Country Financial News

China and not even a single inch of land has been taken over by the neighbouring country in recent years, Ladakh Lt Governor Brig (Retd) B D Mishra said on Thursday. He said infrastructure development is taking place at a rapid pace across Ladakh with roads, helipads, airfields, tunnels and bridges being built, and India will catch up with China in that regard within next four-five years. Brig Mishra (Retd) was in Jammu in connection with a three-day north-tech symposium which concluded at IIT Jammu on Wednesday. The event provided a platform for engagement between the academia and industry to devise unique solutions to meet the army's operational requirements in northern command, while promoting self-reliance in defence production and technology proliferation. «If there is any match to them (China) in Asia, it is India.

LIC on Thursday said it has sold 2 per cent of its holding in Sun Pharma for Rs 4,699 crore via open market sale. Following the share sale, there is a decrease of 2 per cent in holding during the period from July 22, 2022 to September 13, 2023. «Corporation's shareholding in Sun Pharma has diluted from 12,05,24,944 to 7,22,68,890 equity shares decreasing its shareholding from 5.023 per cent to 3.012 per cent of the paid-up capital of the said company,» LIC said in a regulatory filing. The shares were sold at an average price of Rs 973.80 per share during the period through an open market sale in an ordinary course of transaction, it said. Sun Pharma is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and Active Pharma Ingredients (APls). Shares of the country's largest state-owned insurer, LIC, closed at Rs 660.80 apiece on BSE, up by 0.27 per cent.

Hamleys, owned by Reliance Brands Limited has opened first retail store in Italy with franchisee Giochi Preziosi SPA (GP), a leading player in Italy's toy manufacturing and distribution industry. Under the terms of the franchise agreement, GP has the rights to operate Hamleys stores throughout Italy. The first store is situated in Milan, at the renowned Corso Vittorio Emanuele II, and will be followed by the launch of a flagship store in Rome. “Guided by our vision — crafting memories through the joy of play, we are looking forward to becoming a centerpiece store in the popular shopping and tourist destination of Corso Vittorio Emanuele II, Milan,” said Sumeet Yadav, CEO, Hamleys Global. Hamleys was founded in 1760 by William Hamley and acquired by Reliance Brands Limited (RBL) in 2019. Currently it has a footprint of 191 stores spread across 15 countries. Hamleys continues to expand into newer markets, most recently the Balkans, with its first store in Albania and Kosovo, and further its reach in existing territories like India and Middle East with a store in Qatar. Spread across 13,300 sq.

₹21,935 crore, the purchase will help refurbish the Indian Air Force’s aging Avro-748 transport fleet. Here’s why it matters In September 2021, India signed a deal with aviation giant Airbus for 56 such C295 transport aircraft. Under the terms of the deal, India would receive 16 aircraft assembled in Spain, while the remaining 40 would be assembled in India.

NASA is set to release on Thursday the findings of a long-awaited study on unexplained flying objects in Earth's skies. The US space agency announced last year it was reviewing evidence regarding unidentified anomalous phenomena, or UAPs — which has replaced the term "UFO" in official parlance. The subject has long fascinated the public but was shunned by mainstream science. An independent team of 16 researchers shared their preliminary observations in May, finding that existing data and eyewitness reports are insufficient to draw firm conclusions, while calling for more systematic collection of high-quality data. It's unlikely Thursday's report will change that bottom line — but it could eventually usher in the start of a new mission for the agency. While NASA's probes and rovers scour the solar system for any fossils of ancient microbes, and its astronomers look for signs of intelligent civilizations on distant planets, its historic posture has been to «debunk» sightings on our home planet. There have been more than 800 «events» collected over 27 years, of which two to five per cent are thought to be possibly anomalous, the report's authors said during the May meeting. These are defined as «anything that is not readily understandable by the operator or the sensor,» or «something that is doing something weird,» said team member Nadia Drake. The US government has begun taking the issue of UAPs more seriously in recent years, in part due to concerns that they are related to foreign surveillance. NASA's work, which relies on unclassified material, is separate from a Pentagon investigation, though the two are coordinating on matters of how to apply scientific tools and methods. In July, a former US intelligence officer made

Pakistan appears to be intensifying its efforts to bolster its nuclear arsenal, according to a recent research report by the Federation of American Scientists. The nation's economy has been in turmoil, marked by widespread protests against skyrocketing fuel prices and exorbitant power bills.

Hindi Diwas, a day to celebrate the significance of the language, versality and its originality. Hindi is considered as official language according to the constitution of India. It is believed that around 425 million people from all over the world speak Hindi as their first language and 120 million people speak it as their second language.

Narendra Modi on Thursday elaborately spoke about the controversy surrounding the Sanatana Dharma remark made by Tamil Nadu minister Udhayanidhi Stalin. Addressing a massive gathering at Bina in poll-bound Madhya Pradesh, PM Modi said that the INDIA alliance has a “hidden agenda" to attack and end the Sanatana Dharma culture. Unleashing a no holds barred attack on the Opposition bloc — the Indian National Developmental Inclusive Alliance (INDIA) — PM Narendra Modi called it an “INDI alliance" that “does not have a leader".

OPEC reduces 2023 oil demand by 1 lakh bpd to 29 mbpd, Saudi output cut leads to 3 mbpd shortfall Experts see a possibility of crude oil prices rising above the $100 per barrel level because of supply cuts and anticipation of economic recovery in China. "Yes, it is quite possible for the global oil price to breach the $100 mark a barrel. Significant efforts of Saudi Arabia and Russia to curtail oil supply and also extend the schedule of oil supply cuts could lead oil to breach this psychological mark," said G.

₹400 crore in May via multiple funds of Convergent Finance LLP, an investment management company led by Harsha Raghavan, besides ₹30 crore from individual investors, Agilitas said. Its founding team comprises Ganguly, who quit Puma India in August, Atul Bajaj, Puma India’s former executive director for sales and operations, and Amit Prabhu, former chief financial officer, Puma India.

foreign exchange and fiscal revenues. Perhaps no company in the world is as closely linked to its country’s collapse as Venezuela’s state oil firm, PDVSA. At its peak in 1998, it provided 5% of global supply.

leadership team led by Gautam Aggarwal, Division President for South Asia & Country Corporate Officer, India, in navigating the domestic payments landscape, Mastercard said in a statement. The veteran banker has nearly four decades of experience in India's largest bank.

cricketer Harmanpreet Kaur, were named by TIME magazine as the top 100 emerging leaders shaping the world. The '2023 TIME100 Next: the Emerging Leaders Shaping the World' list, released on Wednesday, featured three Indians, Kaur, Nandita Venkatesan and Vinu Daniel.

Maruti Suzuki India Ltd on Thursday said it has partnered with Indian Bank to provide financing solutions to its dealers.

By Marc Jones

Bonza chief executive Tim Jordan says politicians need to be willing to tackle the Australian airline duopoly by overhauling Sydney Airport, arguing slot hoarding is a drag on Australia’s productivity.

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By Muyu Xu

By Alex Lawler

NMDC share price jumped over 5 per cent to hit its fresh 52-week high of ₹150 on BSE in intraday trade on Thursday after an upward revision in iron ore prices. The stock opened at ₹142.90 against the previous close of ₹142.25 and rose 5.45 per cent to its one-year peak of ₹150. In a BSE filing on Thursday (September 14), the State-owned company, which is also the country's largest iron ore miner, said that the prices of iron ore with effect from September 14, 2023, has been fixed at ₹4,950 per tonne for lump ore and at ₹4,210 per tonne for fines.

G20 summit, India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union on Saturday on the sidelines of the G20 Summit in New Delhi signed a Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor (IMEC). The G20 Leaders' two-day summit, held under India's presidency, wrapped up on Sunday.