Country Financial News

rupee ended higher on Friday after JPMorgan announced it will include the country's government bonds in its emerging market index, which could lead to billions of dollars of inflows. The rupee ended at 82.93 against the U.S. dollar, compared with 83.09 in the previous session. The currency gained 0.3% this week even as the dollar index rose to an over 6-month high in Asia and was on track for its 10th consecutive weekly gain. Importers' dollar purchases capped gains in the rupee after the currency opened at 82.8225 on Friday, traders said. India's inclusion in JPMorgan's index will start on June 28, 2024, and extend over 10 months.

GRE (Graduate Record Examination) test. The GRE testing time has been nearly halved, now taking less than two hours, a significant reduction from the previous nearly four-hour duration. The GRE is widely accepted across various graduate and professional programs, including STEM, business, and law. It assesses cognitive skills that form the foundation of success in various fields of study and professions.We're on WhatsApp! Join the ET NRI Channel here This streamlined GRE experience is part of ETS's ongoing commitment to enhance the testing process for students while maintaining the integrity and reliability of GRE scores, which institutions worldwide rely on. Additionally, official GRE scores will now be delivered to test takers in just 8-10 days post-examination, further expediting the application process. The key changes in the GRE:

For years, the Harvard College China Forum brought business moguls en masse to the university’s oak-paneled rooms, including Alibaba Group Holding Ltd. founder Jack Ma, Xiaomi Corp.’s Lei Jun, Blackstone Inc.’s Stephen Schwarzman and Bridgewater Associates LP’s Ray Dalio. There at the invitation of students, some of whom also happen to be the children of Chinese billionaires, the moneyed classes of the world’s two largest economies would hobnob every year in a lively exchange of ideas, demonstrating wealth’s power to bridge geopolitical rifts. 

Schroders Plc said it has a way to score sovereign debt that corrects for the rich-world biases inherent in ESG investing.

reservation for women may not become effective before the 2029 Lok Sabha election. Why? The Women's Reservation Bill says so… Article 334A of the Women's Reservation Bill says “.…provisions of the Constitution relating to the reservation of seats for women in the House of the People, the Legislative Assembly of a State and the Legislative Assembly of the National Capital Territory of Delhi shall come into effect after an exercise of delimitation is undertaken for this purpose after the relevant figures for the first census taken after commencement of the Constitution (One Hundred and Twenty-eighth Amendment) Act, 2023 have been published…." Immediate implementation of women's reservation bill is illegal.

rupee is expected to gain from the addition of government bonds in the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) index riding on dollar inflows, experts told ETMarkets. India will enter the global bond index with a 10% weight cap and other smaller JPM EM indices in a staggered manner over a 10-month period beginning June 28, 2024. According to market experts, this could prompt around $30 billion of passive inflows. Harsimran Sahni, Executive Vice-president & Head-Treasury at Anand Rathi Global Finance, sees a near- and long-term impact of the move.

Radha Ashtami is celebrated as the birth anniversary of Goddess Radha Rani, an incarnation of Goddess Laxmi and the beloved of Lord Krishna. This year, Radha Ashtami falls on September 23, 2023.Radha Ashtami Date and TimeThe Ashtami Tithi begins on September 22, 2023, at 01:35 PM and ends on September 23, 2023, at 12:17 PM. The Madhyahna time, considered highly auspicious, falls between 10:26 AM and 12:52 PM on September 23, 2023.Radha Ashtami SignificanceRadha Ashtami holds immense significance among Hindus.

BSP MP Danish Ali wrote to Lok Sabha Speaker Om Birla on Friday, demanding that the matter of BJP MP Ramesh Bidhuri's use of abusive language on the floor of the House be referred to the privileges committee. Ali sought an immediate inquiry into the matter. Bidhuri made certain objectionable remarks targeted at Ali on Thursday night during a discussion in the Lok Sabha on the success of the Chandrayaan-3 mission. «I write to you with deep anguish regarding the speech given in Lok Sabha by an MP of the BJP Mr Ramesh Bidhuri during the discussion on 'Chandrayan success'.

SAMHI Hotels and Zaggle Prepaid, even though in-line with Street expectations, were against the recent trend of robust gains on listing day. SAMHI opened with a mild premium of 8%, while Zaggle saw a flattish debut at its issue price. Even though Zaggle Prepaid is a unique player in the fintech industry, analysts said investors should exit positions as the IPO was aggressively priced. «Zaggle has a major dependency on third parties and has faced negative cash flow and a decline in its profitability in recent years. The IPO valuation was also high.

The Proxperts has announced its expansion plans aimed at empowering MSMEs (Micro, Small, and Medium Enterprises) across the country. The business consulting company headquartered in Surat, Gujarat plans to support manufacturing companies in India and contribute towards 'Make in India' initiatives, The Proxperts says that it is planning to inspire 100,000 business owners thereby transforming 1000 business enterprises to create an impact of good profit for them by 2030. The Proxperts' expansion encompasses two pivotal facets:Online Consultation Model: The Proxperts plans to harness the power of technology to provide consulting services online.Franchise Model: The Proxperts is introducing a franchise model to expand their footprint into diverse regions, starting with Rajkot and Jamnagar in Gujarat, and Mumbai with other Tier-2 cities in Maharashtra.

I2U2 Group, consisting of India, the US, Israel, and the UAE, has launched a private enterprise partnership to increase awareness of its initiative in business communities and support projects that further its goals. The four-nation grouping also launched its website to enhance cooperation between the member countries and partnerships across the globe. The launch announcement was made during the I2U2 Sherpas meeting in New York on the sidelines of the 78th session of the United Nations General Assembly by India's Ministry of External Affairs Secretary (Economic Relations), Dammu Ravi, Israel's Ministry of Foreign Affairs Director-General Ronen Levi, UAE's Ministry of Foreign Affairs Minister Ahmed Ali Al Sayegh, and US Department of State Under Secretary Jose W.

ZURICH (Reuters) — The war in Ukraine has reduced economic growth and «considerably» pushed up inflation across Europe, the Swiss National Bank said in a study published on Friday, with worse effects still to come.

Condemning a video by a pro-Khalistan organisation threatening Hindus of Indian origin asking them to leave Canada, the Canada’s public safety minister Dominic LeBlanc said all Canadians deserve to feel safe in their communities. This comes amid the escalating tensions between India and Canada over Hardeep Singh Nijjar murder.

Organising Committee of the Hangzhou Asian Games and the Olympic Council of Asia (OCA) have taken up the matter with the Chinese government over the denial of entry into the country for three Indian wushu players from Arunachal Pradesh, who have qualified for the Asiad. The three female Wushu players — Nyeman Wangsu, Onilu Tega and Mepung Lamgu — were scheduled to fly out to China on Wednesday night from IGI Airport in Delhi. But have not been able to reach China till Friday, a day before the Opening Ceremony and two days before the start of the Wushu competitions. There are conflicting reports here in Hangzhou with some officials claiming that two of the three Wushu players have received e-accreditation (which for the Asian Games also serves as a visa) but could not download and validate it, while the third player did not get the accreditation.

Sukhdool Singh Gill, alais Sukha Duneke was killed, Canada's Winnipeg police had confirmed. As per sources, it was an act of revenge murder for the killing of gang star Goldy Brar's cousin Gurlal Brar. A gang member of Lawrence Bishnoi took responsibility for the murder earlier on Thursday, and asserted that Sukha Duneke was murdered in his flat in Winnipeg city.

Khalistani terrorist Hardeep Singh Nijjar. Sullivan emphasized that there will be no "special exemption" for actions like these, and the United States will uphold its fundamental principles. In response to a question about why the United States appears to be taking a different approach in addressing Russian aggression and bilateral issues with China and India, US National Security Advisor Jake Sullivan clarified that India is distinct from Russia and China.

United Nations General Assembly (UNGA) in New York to discuss the ongoing negotiations for the reform of the UN Security Council (UNSC). In a joint statement, ministers from all four countries underscored that multilateralism is under significant strain due to multiple and complex crises. They also concurred that the UN Security Council’s inability to effectively and timely address contemporary global challenges reinforces the urgent need for its comprehensive reform. They reiterated that the expansion of the UN Security Council in both permanent and non-permanent categories of membership is essential to make the body more representative, legitimate, effective and efficient.

Brics (Brazil, Russia, India, China, and South Africa) nations on Thursday called for comprehensive reforms of the United Nations (UN) and advocated the inclusion of India, South Africa and Brazil in its Security Council (UNSC). At the last Brics Summit in Johannesburg, United Nations Secretary-General Antonio Guterres had supported such a move, warning that without such reforms, fragmentation of the UN body would be inevitable. The ministers recalled their national positions concerning the conflict in and around Ukraine as expressed at the appropriate fora, including the UN Security Council and General Assembly, and noted with appreciation relevant proposals of mediation and good offices aimed at peaceful resolution of the conflict through dialogue and diplomacy," the statement said. On the implementation of the 2030 Agenda for Sustainable Development, the nations’ further reaffirmed the call for donor countries to honour their Official Development Assistance (ODA) to developing countries, in line with the national policy objectives of recipients. The ministers announced the nations are exploring the establishment of an effective global governance framework with the aim to protect human rights and spur innovation and economic growth. The nations also called upon advanced economies to operationalise the fund on Loss and Damage at the upcoming COP28 environmental meet in Dubai. The fund was touted as a historic breakthrough in negotiations at last year's COP27 meet, and aims to provide financial assistance to nations most vulnerable and impacted by the effects of climate change. But differences have since erupted over which nations can access it, with reports that India may not be able to benefit from it. The ministers

«Second, this inclusion, JP Morgan GBI-EM diversified 110 inclusion, obviously it is good news for the country, for the bond markets and what is good news for bond markets is obviously also good news for primary dealers like PNB Gilts,» says Vikas Goel, MD, PNB Gilts.PNB Gilts is in the business of debt broking. Now that the bond market will open up, how will life change for PNB Gilts?So first, let me clarify, we are not a debt broker; we are a primary dealer in government securities, the only listed primary dealer. So our license is primarily focused on allowing us to be a market maker and supporting the government's borrowing program via being an underwriter. So we are essentially not a broker, we are a dealer. Second, this inclusion, JP Morgan GBI-EM diversified 110 inclusion, obviously it is good news for the country, for the bond markets and what is good news for bond markets is obviously also good news for primary dealers like PNB Gilts.

Resource Capital Funds has sold engineering and consulting firm Ausenco for about $900 million in a deal with a US billionaire and private equity firms looking to boost their exposure to battery minerals and energy transition.

Rahul Gandhi cited that though bringing the ‘Women's Reservation Bill’ is a excellent step forward, it is unlikely that it can be implemented anytime soon. He also called it to be a complete ‘distraction’ tactics on government part to avoid issue that are far more important.