Country Financial News

Vladimir Putin said Tuesday he will only comment on whether he will run for re-election in 2024 after the ballot is officially announced later this year. Putin has led Russia since the turn of the century, winning four presidential elections and briefly serving as prime minister in a system where political opposition has become virtually non-existent. «According to the law, parliament must make a decision at the end of the year,» Putin told the audience at the Eastern Economic Forum in the Pacific port of Vladivostok. «When the elections are announced, when the date is set, then we will talk about it,» he added. Presidential elections in Russia are officially set by parliament and held every six years, after the term limit was lengthened from four years previously.

G20 summit was the 'value' of the India stake in foreign policies of other countries. For that alone, countries made compromises, thus ensuring a successful summit for India. So, what is the India stake? Put simply, almost all G20 countries want to invest in their relationship with India for long term.

New Delhi: French luxury fashion house Christian Dior has leased two large units in Jio World Plaza, a yet-to-open luxury mall, part of Jio World Centre, in Mumbai's Bandra-Kurla Complex, signaling a push by the world's top luxury brands to lure wealthy Indian shoppers. Christian Dior Trading India Pvt Ltd has signed a 9.5-year lease agreement with Reliance Industries Ltd. to lease two units on the ground floor of the Plaza, paying a starting monthly rent of ₹21,56,310 for a total chargeable area of 3,317 sq.ft, according to data accessed by FloorTap.com, a marketplace for commercial properties.

New Delhi: On Tuesday, Apple unveiled its latest generation smartphone, the iPhone 15 lineup, at its Apple Park headquarters in Cupertino, California. While the smartphones in the lineup were largely in line with Apple’s incremental upgrades offered every year, this year marked the first time that Apple began assembling its latest generation iPhones in time for the first batch of the smartphones to be sold—in India and around the world. The iPhone 15, launched with a higher resolution OLED display, a higher resolution 48MP camera, the A16 Bionic custom processor designed in-house for the iPhone 14 Pro last year, and the pill-shaped 'Dynamic Island' notch that was also introduced in the latter, will be available in India starting 22 September, and is priced onward of ₹79900.

A report says Poland is losing large numbers of Ukrainian refugees from its workforce as they travel to Germany to seek higher wages and government benefits in the rich Western economy

The mining of minerals critical to electric vehicle batteries and other green technologies in Congo has led to human rights abuses, including forced evictions and physical assault

Mint takes a closer look at the idea and the benefit it offers. An economic corridor, a term coined by the Asian Development Bank, is an integrated network of infrastructure—including rail, road, and port—within a defined geographical area that connect various economic hubs. They link centres of production with centres of consumption.

Hindalco Industries Ltd said on Tuesday it has signed a technology partnership with Italy-based Metra SpA, to bring the latest aluminium extrusion technology to India for building rail coaches. The company will set up an extrusion press in the country as part of the ₹2,000 crore investment that Kumar Mangalam Birla, chairman of the company, had announced during the company’s 64th annual general meeting (AGM) last month.

NEW DELHI : The spectre of an additional tax on diesel vehicles rattled shares of top automakers on Tuesday before an official clarification that there was no such active proposal before the government. Earlier in the day, Union minister for road transport and highways Nitin Gadkari told an industry gathering that he would consider proposing an additional “pollution tax" on diesel engines if the industry doesn’t transition away from the “hazardous" fuel quickly enough. However, the minister later issued a clarification that said, “It is essential to clarify that there is no such proposal currently under active consideration by the government", and “it is imperative to actively embrace cleaner and greener alternative fuels.

G20 summit ended because of a reported technical snag with his aircraft. While it’s the stock-in-trade of diplomacy to paint smiles on everything, he can hardly be expected to have had a pleasant visit.

Global gabfests rarely produce significant results, and last weekend’s Group of 20 summit in New Delhi was no exception. The carefully drafted and painfully negotiated declaration will be forgotten as quickly as all its predecessors. The war in Ukraine will rumble on exactly as if the language on the war had not been tweaked to favor the Russian position.

Employers around the country have good news for workers who dread chats about their performance: Feedback is on the way out. Many companies, executive coaches and HR professionals are looking to erase the anxiety-inducing word from the corporate lexicon, and some are urging it be replaced by what they see as a gentler, more constructive word: “feedforward." Feedback too often leaves workers feeling defeated, weighed down by past actions instead of considering the next steps ahead, but “feedforward" encourages improvement and development, its proponents say.

RR Kabel IPO: RR Kabel has raised ₹585 crore from anchor investors a day ahead of its IPO subscription opening for bidding. RR Kabel initial public offering (IPO) will open for subscription on Wednesday, September 13 and close on Friday, September 15. The TPG-backed company has fixed the price band at ₹983 to ₹1,035 per equity share of face value of ₹5 each for the issue.

NEW DELHI : The World Trade Organization (WTO) on Tuesday flagged growing fragmentation in international trade with an over-ninefold increase in the number of trade concerns raised in just the last six years. Trade concerns raised at WTO committees are seen as an early indicator of trade disputes.

NEW DELHI : The recently launched Global Biofuels Alliance will work on the definition and specification of biofuels, and also increase international cooperation through a virtual marketplace, said Union petroleum & natural gas minister Hardeep Singh Puri. The alliance was launched on 9 September with 19 countries and 12 international organizations agreeing to join. In an interview, Puri said India would increase its production of biofuels going ahead.

NEW DELHI : The removal of additional duties on imports of American apples, walnuts and almonds will have no effect on growers in Jammu and Kashmir, the Centre said on Tuesday, a day after former chief minister Mehbooba Mufti expressed concern. The Centre said the basic duty of 50% will continue to protect domestic players. India recently lifted additional duties on several American products, including chickpeas, lentils and apples.

By Howard Schneider

special campaign by the Ministry of Heavy Industries led to revenue generation of Rs 5.71 crore through scrap disposal sale of 53,796 files, the Centre said on Tuesday. The cleanliness drive, — part of a nationwide cleanliness drive — was carried out at 101 identified sites of various units of the CPSEs and autonomous bodies (ABs) under Special Campaign 2.0 of the Ministry of Heavy Industries from October 2 to 31, 2022, which led to the weeding out of 52,445 files. In addition, 1,351 physical files were weeded out resulting in freeing the space by 12,349 sq.ft.

solar capacity will double to 1,000 gigawatts (GW) by the end of 2026 as the world's second-largest economy continues to ramp up investment in renewables, energy research firm Rystad Energy wrote in a note published on Monday. Beijing had set a goal of boosting the country's installed capacity of wind and solar power to more than 1,200 GW by 2030. China had installed 365 GW of wind power capacity and 392 GW of solar capacity by the end of last year — about a third of the world's total.

Mines Ministry on Tuesday approved a 25% (of the approved cost) incentive for exploration of critical minerals in the country. In a post on social media, Mines Minister Prahlad Joshi said, «This incentive will be provided through National Mineral Exploration Trust and will help in the discovery of critical minerals in the country.» Exploration agencies from both public and private sectors can avail this financial incentive on successful discovery of critical minerals in the projects, Joshi added. This move is in line with recently approved amendments to the Mines and Minerals (Development and Regulation) Act, 1957.

Piyush Goyal on Tuesday suggested the auto industry not to import components unnecessarily if the exporting country is not giving equal access to Indian players. He however said that companies can import quality products if those are not available or manufactured domestically. «Where things are being unnecessarily imported without India getting an equal opportunity in those countries I would be tempted....,» he said here at the annual convention of the Society of Indian Automobile Manufacturers. He did not elaborate on these remarks. Goyal also said that the government may have to look at the practices of some of the players in the sector who get dictated by their parent companies on sourcing and pricing of imports of components.