Country Financial News

India and Canada will not have a material impact on the country's exports, according to apex engineering body EEPC. India's exports to Canada stood at USD 4.1 billion in 2022-23. The export goods include pharmaceuticals, gems and jewellery, textiles, and machinery, while imports (USD 4.06 billion) include pulses, timber, pulp and paper, and mining products. «We do not believe that the stand-off with Canada will have a material impact on our exports and trade, given our long-standing relationship.

Sarbananda Sonowal is going to inaugurate India’s First Lighthouse Festival from the Fort Aguada Lighthouse on Saturday. The three days festival, beginning 23rd September and ending on 25th September, will be celebrated across all the lighthouses in the country in an effort to transform these historic spots as tourist destinations. The inaugural session will also be attended by the Chief Minister of Goa, Pramod Sawant; the Union Minister of Ports, Shipping & Waterways and Tourism, Shripad Naik as well as Tourism Minister of Goa, Rohan Khaunte among others. The Union Minister, Sarbananda Sonowal, earlier launched a campaign ‘Lighthouse Heritage Tourism’ to transform 75 historic lighthouses into Tourism Spots.

ISRO) said today that it has tried to establish contact with the Vikram lander and Pragyan rover but no signal has been received from them till now. «Efforts have been made to establish communication with the Vikram lander and Pragyan rover to ascertain their wake-up condition. As of now, no signals have been received from them,» the space agency said today. «Efforts to establish contact will continue,» it added. The Chandrayaan-3 lander, 'Vikram', touched down on August 23 at the uncharted lunar South Pole making India the first country to do so.

Mumbai airport will remain closed for six hours for maintenance works on October 17 and during this period, there will be no flight operations.

₹2 trillion worth of deposits. Over 55.5% of bank accounts belong to women, and 67% come from rural and semi-urban areas. "The average balance in these accounts is over ₹4,000.

Pope Francis is visiting Marseille, France, on Friday to advocate for refugees amid an antimigration political backlash in Europe. The pope, who has made migration a signature issue of his decadelong pontificate, will attend a meeting of Catholic bishops and young people of different faiths from around the Mediterranean to address common social problems and particularly the challenge of migration.

European battery startups are grappling with how to make less-expensive batteries at scale as they race to meet demand from an electrifying car industry, and while investors are still buying in, there is less enthusiasm than a few years ago. Battery production capacity to meet demand from car makers, whose electrification march is fueled by European Union climate policies, simply doesn’t exist yet in the EU, said Gert Meylemans, the general manager of Eurobat, an association that represents automotive and industrial battery manufacturers. Eurobat commissioned a study in 2019 that suggested battery supply would match demand by 2024.

foreign exchange (forex) reserves fell for a second straight week and stood at a near four-month low of $593.037 billion as of September 15 - a decrease of $860 million from the previous week, Reserve Bank of India's (RBI) data showed on Friday, September 22. In the previous reporting week, the overall reserves dropped $4.99 billion to $593.90 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.

The gusts of evolution are currently blowing stronger than ever before in the building industry in India. In a huge and diversified country like ours, the construction sector has consistently been a vital contributor to economic progress. However, this industry has had its fair share of difficulties, ranging from prolonged project time-frames to rising prices and environmental issues.

Chief Minister Arvind Kejriwal granted a special exemption for using loudspeakers till midnight during Ramleela and Durga Puja celebrations, the Delhi Chief Minister’s Office (CMO) said in a statement on Friday.

If there is any city in the country which has seen both continuous and rapid transformation, it is undoubtedly Gurugram (being Gurgaon for most of the time)! What was once a cluster of villages today is now a global commercial & residential hub that has seen an exponential rise in its real estate index, thanks to the cosmopolitan working & living communities that have dotted the region.

Financial literacy is a critical component of economic empowerment, and it plays a pivotal role in enhancing the socio-economic status of individuals and communities. Unfortunately, in many rural areas around the world, particularly in developing countries, women often face significant challenges when it comes to financial literacy. This disparity can be attributed to several interrelated factors.

The demographic dividend that India intends to exploit, on its stated intent, to be the third largest economy in the world would suffer a major loss, if living for senior citizens is not included into the plans today. Countries like Japan, Monaco, Italy, Germany etc. are consciously wrapping their policies around their aging population. While many developed nations have a third of their population over the age of 60, India’s elderly population is likely to rise to 41% over next decade and expected to touch around 194 mn.

A new LifeWorks study commissioned by the Alberta government says the province could be entitled to take $334 billion — more than half of assets in the Canada Pension Plan — were it to exit the national plan entirely and start its own fund. The figure has raised eyebrows in pension circles and big questions across the rest of the country: Can Alberta really walk off with half the CPP? And what happens to everyone else if they do? The Financial Post’s Ian Vandaelle breaks down what you need to know about the issue.

Sam Ramadori laughed as he spoke of his youth and the chaos involved when working alongside his siblings, cousins, uncles, aunts and parents at Pasta Casareccia, the Italian family restaurant his immigrant family opened in Montreal some 40-odd years ago.

Uttar Pradesh International Trade Show- a first of its kind event being held in UP to showcase products manufactured in the state to B2B and B2C buyers from India and abroad. The show being held at the India Expo Mart in Greater Noida was inaugurated on Thursday by president Droupadi Murmu. Murmu pointed out that the G20 New Delhi Leaders' Declaration included the goal of local value creation and identifying the challenges faced by MSMEs and connecting MSMEs at the international level and said the trade show would «advance India's national and international priorities in line with the goals of the G20». CM Yogi Adityanath in his address at the inaugural ceremony said in the last six years UP has moved from being a Bimaru state to becoming a prosperous state.

Reserve Bank of India (RBI) showed on Friday. Previously, forex reserves decreased by $4.99 billion to $593.90 billion for the week ended on September 8. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $511 million to $525.92 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 dipped by $384 million to $44 billion, while SDRs were up by $32 million to $18.09 billion. Reserve position in the IMF decreased by $4 million to $5.03 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.

New Delhi: Over 15,300 companies and 4,668 limited liability partnerships (LLPs) were registered in August, as per available from the ministry of corporate affairs, indicating that the process of incorporation of businesses in the new high security forms is going smoothly. The number of companies set up last month is about 6% more than the over 14,400 companies formed in August last year. In the first five months of this financial year, over 79,300 companies were registered against 78,118 companies set up in the same time a year ago.

Bhartiya Janata Party (BJP) MP Ramesh Bidhuri's communal name calling and usage of abusive language in the Lok Sabha should be referred to the Privileges Committee. In his letter to Speaker Om Birla, Danish Ali has sought immediate inquiry in the matter. Bidhuri was recorded on camera using communally instigated abusive language tantamounting to name calling to BSP MP Danish Ali attacking his religious practice- Islam.

ET had earlier reported that the ministry is seeking an additional INR 1,500 crore as support from the finance ministry funds earmarked for the second phase is likely to be exhausted before March 2024 due to robust electric vehicle sales. As per the ET Auto report, MoHI has proposed to increase allocation for e-two-wheelers by 165.5 percent while slashing the same for electric three-wheelers by a whopping 60 percent.

Sterlite Power on Friday said it has acquired Beawar Transmission Ltd for developing an electricity transmission project in Rajasthan. Beawar Transmission is a Special Purpose Vehicle (SPV) of REC Power Development and Consultancy Ltd. The SPV was awarded to Sterlite Power through tariff-based competitive bidding in August, a company statement said. «Sterlite Power announces the acquisition of Beawar Transmission Ltd from REC Power Development and Consultancy Ltd, a wholly owned subsidiary of REC Ltd,» it said. The company did not share the financial details of the acquisition. Through the Beawar Transmission Ltd, the company will build the Green Energy Corridor project on Build, Own, Operate, Transfer (BOOT) basis, for a period of 35 years, as per the statement. This is Sterlite Power's 19th power transmission project in India acquired through tariff-based competitive bidding, the company said, adding that it now has Rs 12,000 crore worth of projects under management. «Sterlite Power is proud to be building the green energy corridor that will enable the flow of 20 GW of renewable energy,» Sterlite Power Managing Director Pratik Agarwal said in the statement. The Beawar Transmission will entail construction of three integral components. Initially, a 350 km 765kV transmission corridor connecting the renewable energy zone of Fatehgarh III to the substation at Beawar will be developed. Then, a 3,000 MVA 765/400kV Substation at Beawar will be constructed and finally, there will be construction of two LILO lines, covering approximately 120 km. In March, the Sterlite Power won Part G Phase III of the project, titled Fatehgarh III Beawar Transmission Ltd.