Country Financial News

Indian sovereign bonds' inclusion in the JP Morgan Global Bond Index-Emerging Markets (GBI-EM) may support diversification of the investor base but is unlikely to significantly impact the country’s credit profile and fiscal policy approach in the near term, rating agency Fitch said in a report on Wednesday. “This could serve to lower funding costs slightly, and support further development of domestic capital markets, but direct positive effects on India’s credit profile will be marginal in the near term,” the report stated. The inclusion in the index is likely to facilitate $24 billion of inflows between June 2024 and March 2025, with India expected to account for a maximum weight of 10% of the index. JP Morgan GBI-EM comprises 23 bonds with a total value of $330 billion. “We expect the positive effect on the sovereign rating of India’s inclusion in the JP Morgan Global Bond Index-Emerging Markets (GBI-EM) to be small, especially in the near term, as its impact on fiscal credit metrics is unlikely to be significant,” the report further stated. However, it did note that flows could be greater if other indexes also included Indian government securities. Experts indicate that an inclusion in Bloomberg Global Aggregate Index could bring in another $15 billion in passive flows. “The resulting increase in foreign investor holdings of central government maturities is likely to be large — they accounted for only around 1.6% ($19 billion) of the market as of Q2-2023, including about $12 billion of the bonds issued under the fully accessible route (FAR),” Fitch noted, highlighting that the impact of foreign investors in debt pricing is likely to be limited. Fitch was of the view that the move could stimulate further

British royal family has changed noticeably in recent years. The future king and queen, Prince William and Kate Middleton, have seen a significant increase in popularity, while Meghan Markle and Prince Harry have seen a fall in their reputation, according to a report from the UK's Daily Express. It has garnered attention in both the UK and the US because Prince William and Kate Middleton's popularity has grown significantly.

Narendra Modi on Wednesday said his aim is to make India a global growth engine and expressed confidence that the country will soon emerge as an economic powerhouse of the world. Speaking at an event to mark 20 years of success of the Vibrant Gujarat Summit, Modi said they sowed small seeds of a «Vibrant Gujarat» 20 years ago, and today it has developed into a big tree. Modi also said that Vibrant Gujarat became a success at such a time when the previous central government (UPA dispensation) was «indifferent» to the industrial progress of the state.

Army Chief Gen Manoj Pande on Wednesday called for embracing the concept of 'unity of effort' as the guiding principle by like-minded nations to confront multifaceted challenges facing the Indo-Pacific region. In an address at the closing session of the Indo-Pacific Armies Chiefs Conference (IPACC), he said the solutions to the challenges demand creativity, innovation, flexibility and inclusive collaboration. The Indian Army hosted the two-day conclave to evolve a common strategy to ensure peace and stability in the Indo-Pacific.

BJP is «delaying» the panchayat and local bodies polls in Jammu and Kashmir as it has «sensed defeat», PDP chief Mehbooba Mufti said on Wednesday, and charged that the ruling party at the Centre might end the election system in the entire country if it comes back to power. «The BJP has realised that they will be wiped out in Jammu and the parties and system which they tried to put up in Kashmir are not working as people are not ready to accept them, so they are deferring the election,» she told reporters here. The former J-K chief minister said the BJP used to «indulge in a drama» and show to the entire world that they conducted the panchayat and local bodies elections in J-K.

luxury SUV, the Mercedes-AMG G 63 Grand Edition, captivating the attention of automotive enthusiasts with its exclusive features and commanding road presence.

Arunachal Pradesh Chief Minister Pema Khandu assured that the three Wushu players of the state, who missed to participate in the ongoing Asian Games being held at Hangzou in China, due to denial of visa by the neighbouring country, will be treated as participants of the Asian Games as members of the Indian Wushu team and will be provided with incentives as per the state’s sports policy. The three Wushu athletes Onilu Tega, Nyeman Wangsu and Mepung Lamgu along with Sports and Youth Affairs Minister Mama Natung, their coach Maibam Premchandra Singh, Sports Secretary Abu Tayeng, officials of the Arunachal Olympic Association and Arunachal Wushu Association had called on the Chief Minister here this evening at the state civil secretariat. Acknowledging the fact that the three athletes were the first from Arunachal Pradesh ever to qualify for the Asian Games but had to miss the prestigious event for no fault of theirs, Khandu said that they will receive the cash incentive of Rs 20 lakhs each in accordance with the state’s sports policy for an athlete participating in the Asian Games. He also said that Coach Maibam Premchandra Singh will receive his share of 10% of the incentives awarded to the athletes. Interacting with the young Wushu players, Khandu encouraged them to train harder and focus on the 2026 Asian Games scheduled to be held at Tokyo, Japan. “As true sportspersons you are not supposed to get disheartened but prepare harder for the next tournament.

India, September 27 2023: Tyke Technologies Private Limited, a pioneering fintech firm that has successfully made Startup Investment accessible to a broader audience through its platform called Tykeinvest.com, has witnessed over 120+ startups embracing its distinctive product called CSOP (Community Subscription Offer Plan), showcasing the increase in industry demand of Startup Investment and adoption of this innovative product by Consumers in India. The growing utilization of CSOP indicates that Tykeinvest, which has pioneered bringing retail investors to the angel investment table, has yet again found the pulse of the consumer and the business.

Travis King. Even, there is no information about the location where he will be expelled. Travis King had crossed into the country through the heavily armed border between the Koreas in July.

river interlinking projects, designed to address the country's increasing droughts and floods, may inadvertently worsen water stress and disrupt monsoon patterns, according to a study published in the journal Nature. The research used several techniques, including regional climate models and reanalysis data, to shed light on the intricate web of hydro-meteorological consequences that could be unleashed by these massive infrastructure projects. The researchers, including those from Indian Institute of Technology (IIT) Bombay and Indian Institute of Tropical Meteorology (IITM), Pune incorporated atmospheric variables, accounting for common drivers such as the El Nno-Southern Oscillation (ENSO).

Modi on Wednesday said he does not have a house in his name, but his government turned lakhs of daughters in the country house-owners. PM Modi, who has been on a two-day visit to Gujarat starting Tuesday, was speaking at the launch of various development projects worth over Rs 5,000 crore, including projects worth Rs 4,500 crore related to education sector, in Bodeli town of tribal-dominated Chhotaudepur district of Gujarat. «Since I spent significant time with you, I know the issues faced by the poor people and I have always tried to solve those issues.

Chennai: Chocolate manufacturer and supplier LOTTE India has ramped up production at its factory in Tamil Nadu with an investment of Rs 185 crore. The facility, spread across 85,562 sq ft land in Nemam near here, would increase production of the company's range of Choco Pie.

By Mathieu Rosemain and Noele Illien

NaVIC, from its current range of 1,500 km to an extended 3,000 km beyond India's borders. As per a TOI report, this development was shared by ISRO Chairman S Somanath during the CSIR Foundation Day event at Bharat Mandapam, where he presented an overview of the space agency's initiatives. Once the expansion of coverage is achieved, NaVIC will not only serve India but also extend its signals to neighboring countries in the South Asian Association for Regional Cooperation (SAARC) region. NaVIC operates through a constellation of seven satellites and a network of continuous ground stations operating around the clock.

Considering remote working from overseas? Join the growing segment of untethered persons: In the US alone, 17.3 million Americans, 11% of the workforce, now identify as digital nomads—traditional jobholders and independent workers—an increase of 2% from 2022, according to the August 2023 report from US workforce management company MBO Partners. Another 70 million are either planning to become digital nomads over the next two to three years or are considering it. 

Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, according to the latest Federal Reserve study of household finances. 

Cryptocurrency exchange Binance said on Wednesday it will sell its Russia business to newly-launched exchange CommEX, becoming the latest company to pull out of Moscow since the country began its war against Ukraine.

Rana Gupta, MD, Manulife Investment Management, says over the last 10 years, a lot of reforms have happened basically by pivoting the economy from a higher deficit to a much higher savings economy, from more consumption incentives to more investment incentives. Even domestically, for the companies that were linked to those themes – a higher or average PE is all right. But if a company or sector is not linked to those tailwinds and is still trading at higher PE in this high interest rate environment, then a fair amount of caution will come in.” Interest rates are largely a function of how markets are valued and these have gone up quite significantly. So while we are very close to our 10-year averages when it comes to Indian market valuations, with the adjusted interest rate where the US 10-year bond yield is at 4.5% odd now,, how do you look at valuations? Should one look and adjust for those or are you believing that the larger valuation picture is looking decent? Interest rates are set by demand and supply of money and, of course, the central banks can influence and also set those interest rates. But broadly the question is whether with the global interest rates going up and Indian stock market trading above 10 years of the average valuation, we should reset the valuation benchmark in the light of higher global interest rates?

PoddL, a business management startup, has launched a platform for freelancers and creators in India to enable global work discovery and effortless cross-border payments. The mobile first chat-based platform has built-in tools for finding work across the globe, communicating, handling workflows and a simpler way to accept international payments.

Fujifilm Business Innovation on Wednesday announced its foray into the office printer business in India to tap the high growth potential. India will be the 15th operation for the company in the Asia Pacific (APAC) region for the office printer business and is targetting government offices as one of the main customers, Fujifilm Business Innovation Asia Pacific Pte Ltd President Masatsugu Naito said.

The Kashmir Files. In a video shared by an ‘X’ user, Agnihotri is seen being interviewed by OpiIndia, where the filmmaker claims, "Agar constitutional post k log desh k interest k khilaaf, kisi aur cheez ko paise leke promote larte hain, to ye bhoto chinta wala vishae hain. (If people holding constitutional power take money to promote products, against the interests of the country, then that becomes a point for worry).