Country Financial News

Elon Musk's Starlink is likely to get approval from the telecom ministry to start offering its services in India. A report by The Times of India while quoting sources noted, "A high-level meeting is slated for later this month and Starlink's proposal for a global mobile personal communication by satellite (GMPCS) services licence is expected to be taken up there," "The meeting is likely to give an approval to the proposal, though we cannot rule out certain last-minute hiccups that may cause some more delays." the report added.

Q: At Adobe’s Best of SUMMIT event, we discussed how experience-led growth is foundational to the success of every business. As an Adobe partner, can you share your perspective on how digital transformation is evolving as an area of priority for businesses today? Harpinder Singh: I strongly believe that to transform in the true sense, an organisation must understand the pulse of its business, ecosystem, and customers. The process of redesigning of customer journeys, products, services, and business models across the organisation can be successful only if the whole purpose of transformation is mapped directly to the creation of value.

Stock market today: India has been at the center of the global political and economic discourse for some time now. As the fastest growing large economy in the world, India is viewed with respect among the comity of nations. According to IMF, India will contribute 15 percent to the global GDP growth this year.

Prime Minister Narendra Modi's «Amrit Kaal» call to bring India into the category of developed nations by 2047, popular music composer and singer Kailash Kher has said. Energised and motivated Indians have put the country on an accelerated path of development and India would become a developed nation much before 2047, a timeline set by the prime minister, Kailash said. India today is «taking a lead» in making the world a «livable» place, the 50-year-old singer told PTI here in an interview as he referred to the phenomenal success of the recently concluded G20 Summit in New Delhi. Bollywood can play an important role in Prime Minister Modi's «Amrit Kaal» call to bring India into the category of developed nations by 2047, he said. In its discourse, the Bharatiya Janata Party describes the period between the country's 75th Independence year to the 100th as «Amrit Kaal».

A look at the day ahead in European and global markets from Kevin Buckland

OTT aggregator platform Binge as it makes Apple TV+ now available for consumers in the country. The integration that has just been completed is Apple TV+’s first with an aggregator service in India, and only second in the world.

free trade agreement (FTA), with investment negotiations set to run parallel to goods and services trade negotiations. The Economic and Financial Dialogue saw a continuation of the G20 discussion on digital payments with several countries expressing interest in India's Unified Payments Interface during G20 discussions.

The train carrying North Korea leader Kim Jong Un has already arrived in Russia, RIA state news agency reported on Tuesday. The Russian agency, citing one of its correspondents in Russia's Far East, where Kim is expected, posted also a video of a train, with dark green and grey cars, moving forward and saying it was the train carrying the North Korean leader.

Narendra Modi, who embraced the Sanskrit name for his country in the same week that he played lavish host to the G-20 summit in New Delhi, is trying hard to project India as a “vishwaguru" (guru to the world). It is time to examine his claims more closely, and also to see the present and the future of his “New India" without comforting illusions.

upcoming Cricket World Cup 2023 has been building up for some time. Fans across India are hoping that ‘conservative’ India can lift the trophy after 12 years on home soil. India triumphed over Sri Lanka in the 2011 Cricket World Cup.

SHANGHAI/BEIJING (Reuters) -China's largest private property developer Country Garden won approval from its creditors to extend repayments on six onshore bonds by three years, two sources familiar with the matter said on Tuesday, sending shares up as much as 10%.

Justin Trudeau and his delegation are facing travel disruptions in India as their official aircraft developed technical issues, leaving them stranded in Delhi. The situation is causing uncertainty and may result in Trudeau's return to Canada being delayed. The 30-year-old aircraft, an Airbus A310, was scheduled to transport Trudeau and his team back to Canada from Delhi on Sunday night.

Devang Mehta, Director – Equity Advisory, Spark Private Wealth, says “we have been maintaining that HDFC Bank is going to now enjoy the economies of scale. The synergies of HDFC and HDFC Bank which now becomes a sort of behemoth or a conglomerate in terms of its banking strengths as well as housing finance strengths. Both of them as they are integrated together and HDFC will benefit from lower cost of funds from HDFC Bank and get to use each other's synergies as well. ”Do you see the return of the banking names and if yes, which stocks will lead the rally?There are a plethora of factors which I was just looking at when you talk about the banking index or banking stocks. On the fundamental front, if one can argue, in 2018, in the entire banking system collectively the NPAs were roughly around 11% and now this is roughly around 4% with extremely strong credit growth, extremely strong capex, government induced capex as well as private sector induced capex.

Joe Biden's administration over its decision of prisoner swap with Iran. The US cleared the way for $6 billion in proceeds to be returned to Iran and agreed to release five Iranians as a part of a secretly negotiated deal. The deal will clear the way for five American citizens detained in Iran to return home, according to a report published by Bloomberg. Secretary of State Antony Blinken notified Congress on Monday of a waiver that will let German, Irish, Qatari, South Korean, and Swiss banks transfer the $6 billion from South Korea without fear of running afoul of US sanctions.

Kashmir have urged the government of India to reconsider its decision to remove additional duties on American products, including apples, walnuts and almonds, as this would adversely impact local farmers. The apple farmers have complained that the removal of additional tariff would negatively impact the local industry in J&K, Himachal Pradesh and Uttarakhand. It would result in huge losses for the local apple industry, which is already grappling with the economic stress in the wake of Covid-19 lockdowns and lesser crop production. “The government of India’s decision to remove additional duties on apples, walnuts and almonds will have a devastating effect on local growers in J&K already grappling with huge losses post 2019.

India has imposed anti dumping duty of $613 per tonne on flat base steel wheels from China for five years. «The anti-dumping duty imposed under this notification shall be effective for a period of five years from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency,» a notification issued by the Central Board of Indirect Taxes and Customs (CBIC) said. The product is used in tubed tyre applications in commercial vehicles. The duty is based on the recommendation by the Directorate General of Trade Remedies(DGTR), the investigation arm of the ministry of commerce and industry to guard domestic players against cheap imports from China. According to global trade practice, a country is allowed to impose tariffs on such dumped products to provide a level playing field for domestic manufacturers.

Kazakhstan Kassym-Jomart Tokayev recently delivered an address, titled “Economic Course of a Just Kazakhstan,” detailing ambitious plans for economic reforms and a fresh economic trajectory for the nation. Tokayev also outlined plans to establish Kazakhstan as a major transit hub in Eurasia, focusing on key routes like the Trans-Caspian and the International North-South Corridor that connects Russia with India. Tokayev outlined various facets of the national agenda, underscoring the key economic tasks facing the government.

Libyan officials are expressing grave concerns as thousands of people are feared dead due to the severe rain and flooding caused by Storm Daniel. In the city of Derna alone, over 2,000 reported deaths have occurred, with an additional 5,000 to 6,000 individuals still unaccounted for. However, the exact figures remain unverified by independent sources, and the origin of this data is unclear.

The Ukrainian military says it recaptured strategic gas and oil drilling platforms from Russia in the Black Sea

Kim Jong Un arrived in Russia on Tuesday for a meeting with President Vladimir Putin that is likely to focus on Russia's desire to buy ammunition to refill reserves drained by its war in Ukraine. The meeting will also underscore deepening cooperation as the two isolated leaders are locked in separate confrontations with the U.S. In return for providing ammunition, North Korea will likely want shipments of food and energy and transfers of sophisticated weapons technologies. A meeting with Putin would be Kim's first with a foreign leader since North Korea closed its borders in January 2020. They met for the first time in April 2019, two months after Kim's high-stakes nuclear diplomacy with then-U.S.

India is the top destination for Chinese companies, but it falls to 11th place in the overall rank as the most attractive destination when other factors are considered. In an Economist Intelligence Unit (EIU) report published this month, which indexes 80 investment destinations based on their appeal to Chinese investors, Singapore emerged the number one most attractive destination for Chinese companies to invest in. The China Going Global Investment Index uses a robust and quantitative approach to rank countries based on their attractiveness for Chinese outward direct investment (ODI). It is aimed at assisting Chinese firms narrow down the list of potential investment destinations, and also focus the minds of recipient governments on the issues that matter for Chinese investors. A total of 200 indicators were used to create the 2023 edition of the index.