Country Financial News

Iceland is responding to the exponential growth of tourism and its impact on the country's pristine wilderness by turning to tax measures, according to Prime Minister Katrin Jakobsdottir. In an interview with Shery Ahn on Bloomberg Television from New York, Prime Minister Jakobsdottir acknowledged the significant and rapid expansion of tourism in Iceland over the past decade. This growth not only affects the environment but also exerts pressure on the unspoiled natural landscapes that draw visitors to the island. To address the climate impact of increased travel, Iceland is considering the introduction of taxes for tourists staying in the country.

Reserve Bank of India (RBI) showed on Friday. Previously, forex reserves decreased by $867 million to $593.04 billion for the week ended on September 15. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $2.55 billion to $523.40 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by $307 million to $44.31 billion, while SDRs were down by $79 million to $18.01 billion. Reserve position in the IMF decreased by $11 million to $5.02 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.

Putin was on Friday shown meeting one of the most senior former commanders of the Wagner mercenary group, Andrei Troshev, and discussing how best to use «volunteer units» in the Ukraine war. Is Wagner back, who controls it and are its fighters returning to the Ukraine war?

Visiting South Sudan President Salva Kiir has agreed in a meeting with Russia’s president to expand their relationship in energy, trade and other areas, notably oil

The United States has imposed sanctions on a former Sudanese government minister and two companies tied to the paramilitary force that's locked in fighting with the Sudanese army

Citrus farmers in the southeast corner of Louisiana are scrambling to find ways to irrigate their crops with fresh water

Slovakia holds an early parliamentary election on Saturday that pits populist former Prime Minister Robert Fico who campaigned on a clear pro-Russia and anti-American message against a liberal pro-West newcomer

Many millions of Chinese tourists are expected to travel within their country, splurging on hotels, tours, attractions and meals in a boost to the economy during the 8-day autumn holiday period that began Friday

European Union governments are struggling to overcome obstacles to put a new asylum system in place three years after unveiling a plan to reform the bloc's outdated asylum rules

GENEVA (Reuters) -Global health aid agency Unitaid has written to Johnson & Johnson (NYSE:JNJ)'s (J&J) CEO Joaquin Duato, urging «immediate action» to expand access to the company's tuberculosis drug bedaquiline, which is protected by patents hindering generic alternatives.

It’s a story that has become too common: An investor, often retired, transfers a big chunk of their 401(k) or IRA to buy gold and in doing so ends up losing a lot of money.

China has no claim over Arunachal Pradesh as the state has always been part of India, Chief Minister Pema Khandu asserted on Friday. Referring to the recent denial of regular visa to three Wushu players from Arunachal Pradesh for the Asian Games in Hangzhou, he said China «unnecessary» tries to bring a «political angle» whenever there is an issue related to the border state. «China has no claim over Arunachal Pradesh.

New Delhi: India's current account deficit (CAD) widened in the April-June quarter to $9.2 billion or 1.1% of GDP from $1.3 billion in the preceding three months. The September quarter is expected to see a substantial widening of the deficit as the trade balance has been worsening sequentially, oil and higher core imports are rising, and services exports are slowing further. Mint explains the relevance of the data in the context of the Indian economy The current account measures the flow of trade, including goods and services and investments in and out of a country.

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FRANKFURT (Reuters) — Inflation in the euro zone fell to its lowest level in two years in September, suggesting the European Central Bank's steady diet of interest rate hikes was succeeding in curbing runaway prices albeit at a growing cost for economic growth.

Investing.com — “When push comes to shove” — the phrase seems to be making itself evident with the oil market, where the sharpest correction in nearly two months occurred on Thursday on overbought crude futures that have risen more than 30% since the end of May.

By Kirsty Needham

Also Read: 90 percent of beggars in foreign countries are Pakistani nationals: Senate Standing Committee on Overseas Pakistanis The PML-N senator leveled accusations against PTI chairman Imran Khan, alleging secret negotiations with military officials and various misdeeds. The dispute quickly took a personal turn as the two leaders began involving each other's families. In the widely circulated video, PTI's Marwat stands abruptly and strikes his counterpart's head unexpectedly.

₹251.50 on BSE after the 800-MW power facility for NTPC started operation, and brokerage ICICI Direct Research maintained a 'buy' rating for the NTPC stock with a target price of ₹300 and saw potential upside of 24% from Wednesday's closing price of ₹240. NTPC shares today opened at intraday low of ₹239.20 apiece.

Ramkumar Ramanathan and Saketh Myneni settled for the men's doubles silver medal at the Asian Games after being edged by Chinese Taipei's Hsu Yu-Hsiou and Jason Jung but India's hopes of winning a gold from the tennis courts is still alive with the mixed team reaching the title clash, here on Friday. The duo of Rohan Bopanna and Rutuja Bhosale outplayed the Chinese Taipei combine of Chan Hao-ching and Yu-Hsiou Hsu 6-1 6-3 in the mixed double semifinal. In the men's doubles event, the Taipei team was unseeded but both Hsu (182) and Jung (231) were better-ranked singles players and it showed in their ground strokes and the way they went about their business in a 6-4 6-4 victory against the second-seeded Indians in the title clash.

LIC), the country's largest insurer, has stepped up federal and state debt purchases to reduce capital volatility, according to sources and market participants, also helping lower government borrowing costs. The shift, previously unreported, has helped states reduce costs by more than 40 basis points (bps) over the past 15 months. «LIC has been increasing their investment into state debt,» confirmed a senior official from the state-run insurer, requesting anonymity as they were not authorised to speak to media. LIC did not respond to an email sent by Reuters. Continuous process The shift began in fiscal 2023, not long after LIC went public. LIC began shifting investments from its non-participating fund to debt from equity to reduce volatility in its solvency margin, said another person familiar with the matter, who also declined to be named. Solvency margin, a key measure of capital, refers to the excess capital insurers maintain over claim amounts they may incur. This usually comes out of funds derived from non-participating policies. The plan to shift is a «continuous process» and will be done gradually, they said, declining to specify to what level LIC intends to take its debt investments.