Country Financial News

By Jing Bian, Xie Yu and Carolina Mandl

Indian cinema and the legacy of Indian motorbikes. The cumulative earnings of 'Jawan,' across all languages in India, currently amount to ₹346.30 crore. 'Jawan,' the film that brought SRK and the classic Yezdi together, has enjoyed tremendous success.

Joe Biden when he became president. It reflects a view that the federal bureaucracy, whatever its size, should not have any entrenched authority. For the first century of its existence, civil servants were appointed to jobs by the government of the day based on an algorithm of personal contacts and favours owed known as the spoils system.

In a bid to reshape its immigration landscape, Canada has introduced major changes to its Express Entry system and Provincial Nominee Program (PNP). The country aims to welcome 117,500 newcomers through the PNP annually by the end of 2025. These changes come in the form of six new attribute-based Express Entry categories, announced by Immigration, Refugees and Citizenship Canada (IRCC) on May 31.

«People are misusing genuine OTT platforms to bypass the system because they are not regulated, they are not subject to any security regulations.

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₹7,405 per barrel on MCX. Crude oil price opened at ₹7,372 a barrel as compared to its previous close of ₹7,385 on the bourse. International crude oil prices rose, firming around a 10-month peak, as the market balanced supply concerns over Libya output and OPEC cuts with global macroeconomic headwinds.

Nitin Gadkari on Tuesday ignited concerns in the industry when he suggested he may propose levying an additional 10 per cent ‘pollution’ tax on sales of diesel vehicles. Well-intentioned as the warning may have been for it seeks to curb the black smoke on roads in one of the most polluted countries, automobile companies and investors were not enthused. Gadkari warned that just like India pushed through stricter fuel emission norms against opposition from the industry, it will similarly drive up taxes to push out diesel vehicles. “Today (Tuesday) evening, I am scheduled to meet Union Finance Minister (Nirmala Sitharaman).

Read here: India's retail inflation eases to 6.83% in August from 15-month high peak in July; remains above RBI's tolerance band Among states, the inflation rate in Delhi was the lowest of all, while that in Rajasthan was the highest, the data showed. The inflation rate in Delhi for the month of August 2023 was 3.09%, followed by Assam at 4.01% and West Bengal at 4.79%. Inflation rate in the Union Territories of Jammu & Kashmir and Ladakh combined was at 5.45%, while in Chhattisgarh it was 5.52%, data by Press Information Bureau showed.

Aeroflex Industries, whose metal hoses are used in utilities, refineries and fire fighting equipment, is in talks to enter the aerospace sector, a top company executive said, aiming to capitalise on the country's burgeoning space program. Following the recent success of its lunar mission, India launched its first solar mission, the latest step in its efforts to increase its share of the global satellite launch market by fivefold within the next decade. «It is our aim that our products be a part of India's next space mission,» Aeroflex Managing Director Asad Daud told Reuters in an interview last week. The company is in early-stage discussions with the likes of Hindustan Aeronautics Ltd (HAL) and Bharat Heavy Electricals Ltd (BHEL) and even the Indian Space Research Organisation (ISRO), Daud said. While HAL and BHEL are existing clients, the ongoing talks are a first for specific space-related projects, he said. The move will help the company, which made a stellar debut on the stock market about two weeks back, diversify its revenue stream. Aeroflex expects its total revenue to increase by 35% in the next three to four years, with at least 5% coming from aerospace, Daud said. Its revenue has surged over 86% in the past two years, to clock in at 2.69 billion rupees ($32.5 million) in the year that ended in March. Daud also said Aeroflex aims to cut imports of coils — a key raw material that accounts for half of overall raw material costs — from China in favour of local suppliers, who can deliver much faster. Aeroflex has three Chinese suppliers that, currently, meet 70%-75% of its needs for their coils.

Kim Jong Un on Wednesday toured Russia's most modern space launch centre, where President Vladimir Putin promised to help Pyongyang build satellites. The unprecedented visit comes as North Korea seeks to put its first spy satellite into orbit, an effort that has seen two failed attempts this year. The promised Russian aid comes as North Korea's scientists have vowed to try another launch of the new Chollima-1 booster in October. Here's what we know about North Korea's race for space, why it's so controversial, and how Russia might help: WHY DOES NORTH KOREA WANT A SATELLITE? Since 1998 North Korea has launched six satellites, two of which appeared to have been successfully placed in orbit. In 2015, a senior North Korean space official said the country wanted to develop cooperation with Russia on «peaceful» use of outer space, the official told TASS. The most recent successful satellite launch was in 2016.

According to data from ANSR, while the absolute GCC hiring numbers are still smaller than the IT services hiring numbers, GCCs in India are expected to create 3.64 lakh jobs in 2023 in the country. Of the varied sectors, Xpheno data says 25% of the net additions will come from the banking and financial services sector. And the skills in demand will include software developers, engineers, data scientists, AI/ML scientists, cloud experts and cybersecurity professionals.GCCs have been operating in India for years. The key question for many today is what’s new about the current wave of GCC hiring? Vikram Ahuja, MD of ANSR and CEO & Co-Founder of Talent500, says while there are already 1,600 GCCs employing 1.5 million professionals, growing at 12% year on year, the last 2 years have been transformational. The GCCs are seeing the strongest pipeline ever for their work. He pins the reasons on some specific factors: “The pandemic normalised the idea of remote work. GCCs gained more mainstream acceptability. GCCs, in many cases, outperformed standard organisations on important metrics such as business continuity and information security, which are critical for large global companies. In a way, it served as a litmus test.”

Narendra Modi will visit Madhya Pradesh and Chhattisgarh on Thursday to launch a slew of projects in the two states. His office said in a statement that he will lay the foundation stone of projects worth over ₹50,700 crore in Madhya Pradesh from an event in Bina in the state. The projects include a petrochemical complex at Bina refinery and 10 new industrial projects across the state.

European venture capital giant Lakestar, an early supporter of fintech unicorn Revolut, has emerged as a prominent backer of French fintech startup Swan.

Kim Jong Un told Russian President Vladimir Putin on Wednesday that his country offers its “full and unconditional support” for Russia’s “sacred fight” to defend its security interests, in an apparent reference to the war in Ukraine, and said Pyongyang will always stand with Moscow on the “anti-imperialist” front. Through a translator, Kim called North Korea’s relations with Russia “the first priority.” Putin in his opening remarks welcomed Kim to Russia and said he was glad to see him. Putin listed economic cooperation, humanitarian issues and the “situation in the region” among the agenda items for their talks. Talks between Russian President Vladimir Putin and North Korean leader Kim Jong Un began on Wednesday at the Vostochny cosmodrome, Russian state news agency Tass reported. The talks, which included their delegations, began shortly after Putin and Kim toured various facilities at the cosmodrome, including two launch pads. The leaders met at the remote Siberian rocket launch facility for a summit that underscores how the two leaders’ interests are aligning in the face of their separate, intensifying confrontations with the United States. The two men began their meeting with a tour of a Soyuz-2 space rocket launch facility, at which the North Korean leader peppered a Russian space official with questions about the rockets. Kim's meeting with Putin came hours after North Korea fired two ballistic missiles toward the sea, extending a highly provocative run in North Korean weapons testing since the start of 2022, as Kim used the distraction caused by Putin’s war on Ukraine to accelerate his weapons development. South Korea’s Joint Chiefs of Staff didn’t immediately say how far the North Korean missiles flew.

dengue fever in Honduras has meant teaching people to fear mosquitoes and avoid their bites. Now, Hondurans are being educated about a potentially more effective way to control the disease — and it goes against everything they’ve learned. Which explains why a dozen people cheered last month as Tegucigalpa resident Hector Enriquez held a glass jar filled with mosquitoes above his head, and then freed the buzzing insects into the air.

iPhone model you purchase on launch day may be manufactured in India. As per reports, Apple intends to make the India-built iPhone 15 available here and in a few other areas on the first day of worldwide sales on September 15. When will the iPhone 15 sale start in India?Apple will begin collecting preorders for the next iPhones on September 15 in over 40 countries, including the US, India, China, the UK, and Canada.

Apple has refreshed its iPhone line-up with the launch of the iPhone 15 series, including the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. These phones will be available in India and 40 more countries starting September 22. Sources familiar with the matter said that Apple will make India-built iPhone 15 units available to Indian customers and customers in “some other regions” on the first day of sales.

UN General Assembly President Dennis Francis has said it is «incongruous» that only five countries can exercise certain powers within the UN Security Council, underlining that the thrust of reform has to be to «democratise» the powerful UN organ, making it more fit for purpose in the 21st century. «It's not untrue that the architecture of the Security Council was designed a very long time ago, decades ago when geographically and geopolitically the world was a very different place,» Francis, President of the 78th session of the UN General Assembly, told PTI in an exclusive interview. Francis said many countries did not exist at the time when the UN Security Council was formed more than seven decades ago, particularly developing countries in the Global South and «countries like my own Trinidad and Tobago. We would at that time have been represented by the British. »But the world has changed.

Vladimir Putin said on Wednesday that Russia would help North Korea build satellites and, when asked if he and Kim Jong Un would talk about weapons supplies, replied that the two leaders would discuss all issues. When asked by reporters if Russia would help Kim build satellites, Putin replied: «That's why we came here. The leader of the DPRK shows great interest in rocket engineering, they are also trying to develop space.» Putin showed Kim around Russia's most modern space rocket launch site, the Vostochny Cosmodrome, which is nestled among the forests of eastern Russia not far from the Chinese border. Kim arrived at Vostochny by train, after crossing into Russia early on Tuesday. «I am glad to see you,» Putin said as he shook Kim's hand for around 40 seconds at Vostochny. «This is our new cosmodrome.»

North Korean missiles flew. Japan’s Coast Guard, citing Tokyo’s Defence Ministry, said the missiles have likely already landed but still urged vessels to watch for falling objects. Putin's meeting with Kim is an opportunity to refill ammunition stores that the 18-month-old war has drained.