Country Financial News

G20 Summit, both Modi and Trudeau repeatedly had a testy meeting. Trade talks have been derailed between the two nations. Canada cancelled a trade mission to India that was planned for the fall.

Analysts at most brokerages have raised their price targets on Tata Steel shares in reaction to the company's joint investment plan with the UK government to build the country's largest steelworks in Wales. The move, which is estimated to reduce the steel maker's losses from Europe, has removed an overhang for the stock, said analysts. «We believe the recent developments related to Tata Steel UK will serve as a favourable catalyst for the stock price as it eliminates a key overhang for Tata to provide cash support from India operations to TSUK (Tata Steel UK) in the long term,» said Ravi Sodah, analyst at Elara Capital. Tata Steel shares, which gained 12% in the last month, ended 1.5% lower at ₹130.4 on Monday. While Tata Steel and the UK will invest £1.25 billion — including a government grant of £500 million — to build an Electric Arc Furnace (EAF) steel plant at Port Talbot — a town in Wales, the existing facility, which is nearing the end of its operational life, will be restructured.

Lenders to Bengaluru-based wood panel and laminates maker Associate Decor are awaiting the go-ahead from the National Company Law Tribunal (NCLT) more than three years after they approved a bid for the company, in what is an example of legal issues plaguing the seven-year-old Insolvency and Bankruptcy Code (IBC). Tanzania-based METL was declared the preferred bidder by lenders led by Union Bank of India (UBI) in March 2020. Its offer of ₹245 crore for the ₹604 crore debt of the company meant a recovery of 40% for lenders.

crude prices tends to be bad news for India as it has always weighed down on the economy in the past. With Brent crude futures at about $95 a barrel due to supply cuts by oil producing countries like Saudi Arabia and Russia, market participants have begun evaluating its impact with the country importing more than 80% of its oil needs. In addition to the economy, companies in various sectors such as paints, tyres, oil, cement, and aviation also feel the direct pain of rising prices as crude is a key raw material for many of them.

Trudeau on Tuesday stating in his country’s parliament that the security agencies were investigating a link between the “agents” Indian government and the killing of Hardeep Singh Nijjar earlier this year. Canadian Foreign Minister Melanie Joly said that a top Indian diplomat posted in the country has been expelled based on the “investigations” in what would be the first such action against an Indian diplomat posted in the West. The Indian government is expected to react strongly during the course of the day on these developments. «Canadian security agencies have been actively pursuing credible allegations of a potential link between agents of the Government of India and the killing of a Canadian citizen, Hardeep Singh Nijjar,» Trudeau said while speaking at the House of Commons in Ottawa on Tuesday. "Canada has declared its deep concerns to the top intelligence security officials of the Indian government. Last week, at the G20, I brought them personally and directly to Prime Minister Modi in no uncertain terms," the Canadian Prime Minister said. Trudeau urged the Indian government to «cooperate with Canada to get to the bottom of this matter» and reiterate its position on «extra-judicial operations» in another country. «If proven true, this would be a great violation of our sovereignty and of the most basic rule of how countries deal with each other,» Joly said.

Not all is well at Escala Partners, the wealth management outfit now partially owned by New York-listed Focus Financial Partners.

The Associated Press. In Parliament, the Canadian PM said the country's intelligence agencies have been investigating the allegations after Sikh leader Hardeep Singh Nijjar was gunned down on June 18 outside a Sikh cultural center in Surrey, British Columbia. Trudeau further said that he brought up the slaying with his Indian counterpart Narendra Modi at the G20 Summit last week.

Narendra Modi and save Trudeau is beyond me. He accused the Indian government of something that will only enhance Modi's reputation in India. He literally helped Modi electorally.

Narendra Modi, reports said. Minister of state for Food Processing Industries and Jal Shakti Prahlad Patel confirmed the development on X (formally known as Twitter), but later deleted the post. "Only the Modi government had the moral courage to fulfil the demand for women's reservation which was proved by the approval of the cabinet.

(Reuters) — Chinese property developer Country Garden won bondholders' approval on the last of a batch of eight local notes it sought to stretch out repayments on, Bloomberg News reported on Tuesday.

Russia's top diplomat at the United Nations, Ukrainian President Volodymyr Zelenskyy suggested Monday that the world body needs to answer for allowing his country's invader a seat at the tables of power. «For us, it's very important that all our words, all our messages, will be heard by our partners. And if in the United Nations still — it's a pity, but still — there is a place for Russian terrorists, the question is not to me.

By Devjyot Ghoshal and Stefanno Sulaiman

(Reuters) — Chinese electric vehicle frontrunner BYD (SZ:002594) has taken an early lead in Southeast Asia's small but fast-growing EV market, partly on the back of distribution partnerships with large, local conglomerates.

GUATEMALA CITY (Reuters) -The United States urges Guatemalan authorities to end their «intimidation efforts» targeting election officials and members of the party voted to power in last month's presidential elections, the U.S. Ambassador to the Organization of American States said on Monday.

New Delhi: Continental Device India Pvt. Ltd (CDIL), India’s oldest semiconductor company that moved away from manufacturing 15 years ago, may set up its own fab in India in the long term, a top executive said, provided an enabling ecosystem comes up in the country. In the meantime, it is focusing on its local ATMP (assembly, testing, marking and packaging) business, expanding its 500 million unit capacity by 100 million units more.

Canada expelled a top Indian diplomat Monday as it investigates what Prime Minister Justin Trudeau called credible allegations that India's government may have had links to the assassination in Canada of a Sikh activist.Trudeau said in Parliament that Canadian intelligence agencies have been looking into the allegations after Sikh leader Hardeep Singh Nijjar, a strong supporter of an independent Sikh homeland known as Khalistan, was gunned down on June 18 outside a Sikh cultural center in Surrey, British Columbia. Trudeau told Parliament that he brought up the slaying with Indian Prime Minister Narendra Modi at the G-20 last week. He said he told Modi that any Indian government involvement would be unacceptable and that he asked for cooperation in the investigation. Canadian Foreign Minister Melanie Joly said the head of Indian intelligence in Canada has been expelled as a consequence. «If proven true this would be a great violation of our sovereignty and of the most basic rule of how countries deal with each other,» Joly said.

Canada said on Monday it had credible information linking Indian government agents to the murder of a Sikh separatist leader in British Columbia in June and said it had expelled a senior Indian intelligence official. The announcement marks a significant worsening of bilateral ties at a time when India is already unhappy that Canadian authorities are not cracking down on Sikh protesters who want their own independent homeland. Prime Minister Justin Trudeau said any involvement of a foreign government in the killing of a Canadian citizen was «an unacceptable violation of our sovereignty». Hardeep Singh Nijjar, was shot dead outside a Sikh temple in Surrey, British Columbia, on June 18. Nijjar supported a Sikh homeland in the form of an independent Khalistani state and was designated by India as a «terrorist» in July 2020, India's The Tribune newspaper said. «Canadian security agencies have been actively pursuing credible allegations of a potential link between agents of the government of India» and Nijjar's death, Trudeau said in an emergency statement to the House of Commons. «Canada has declared its deep concerns to the top intelligence and security officials of the Indian government. Last week at the G20 I brought them personally and directly to Prime Minister Modi in no uncertain terms.» The Indian high commission (embassy) in Ottawa did not respond to requests for comment. New Delhi said last week that Modi had conveyed strong concerns about protests in Canada against India to Trudeau. Canada has the highest population of Sikhs outside their home state of Punjab in India, and the country has been the site of many demonstrations that have irked India. Canada is home to one of the largest overseas communities of Indian

Superpower' will make its debut on Ukrainian TV on Monday. It shows the Russian invasion of Ukraine and how the small country fights back. Directed by Hollywood actor and activist Penn and Aaron Kaufman, it shows Penn conducting intimate interviews with Ukrainian President Volodymyr Zelensky, Russian President Vladimir Putin, and others. Sean Penn took seven trips to Ukraine to shoot these interviews and other sequences.

Academy of Country Music Honors is set to air tonight, September 18, 2023, on Fox at 8 p.m. ET. If you can't catch it on TV, you can stream it on Hulu starting Tuesday, September 19, 2023. Originally held live at the Ryman Auditorium in Nashville, Tennessee on August 23, it's now ready for your viewing pleasure.

telecom components to discourage imports and build a robust domestic supply chain as it aims to transform the country into a fully integrated global telecom gear manufacturing hub. The Department of Telecommunications (DoT) is examining a proposal to impose an initial 10% import duty from January and raise it further to 15% by October next year on packaging items, antennae, WiFi switches, plastic/metal housing items, wires/cables, USB ports/connectors, power adaptors and other electrical/mechanical items, among telecom components, said officials aware of the matter. The import duties on these parts and timelines for their implementation are being considered under the government's Phased Manufacturing Programme (PMP) to drive local production and enhance value addition, the officials said. The PMP aims to lend more depth to India's telecom gear manufacturing ambitions by initially incentivising local production of low value accessories and eventually high value components.

Maharashtra government has restricted sugarcane farmers from selling their produce outside the state in a bid to ensure that there is enough cane for the state's mills to run at maximum capacity. Erratic rainfall has led to a drought-like situation in Maharashtra, the country's second-largest sugar producer, and it is likely to see a big drop in sugarcane yield. Lower availability of cane leads to competition among sugar factories for the crop, resulting in mills poaching cane in each other's jurisdiction. Farmers prefer to sell sugarcane to the mills that pay higher prices. The Maharashtra State Cooperative Sugar Factories Federation, also known as Sakhar Sangh, had written to the state government on the need to take measures to ensure availability of sugarcane for the state's sugar mills.