Country Financial News

BMW has announced plans to transform its Mini factory in Oxford, England, to produce nothing but electric vehicles

A 25-year-old foreign student has been arrested in Norway on suspicion of espionage including illegal eavesdropping through various technical devices

India and Saudi Arabia have agreed to expand trade and security ties, two days after their leaders and others attending a Group of 20 summit announced a new railways and port corridor deal that will link India, Middle East and Europe

Thailand’s new Prime Minister Srettha Thavisin has vowed to act quickly to relieve the country’s economic problems in his inaugural speech to Parliament

Europe's economic outlook just took a turn for the worse

International aid groups have mobilized in Morocco where a 6.8 magnitude earthquake Friday night has killed 2,681 and injured more than 2,500

President Joe Biden has wrapped up a five-day diplomatic sprint through Vietnam and India that put a spotlight on complicated relationships he believes will be crucial for global stability

Sports betting company DraftKings has apologized after using the Sept. 11, 2001, terror attacks to entice people to bet on baseball and football games

The toll of the earthquake that devastated Morocco is on stark display in dozens of remote villages across the North African county's disaster zone

French President Emmanuel Macron witnessed the signature of a deal to facilitate loans to Bangladesh aimed at infrastructure development, as well as a letter of intent to provide the South Asian country with an earth observation satellite system

With a nod toward LPL Financial Holdings Inc.’s recent successes in both recruiting financial advisors as well as signing up large outside firms like banks to use its platform, Barclays Equity Research slapped a brand-new “overweight” rating on shares of LPL Financial (LPLA).

soya bean, sugarcane, moong and urad to overcome the damage caused by scanty rains in August, experts said, warning of poor yield, price increases, and food inflation. «Inadequate rainfall for more than a month now is adding to uncertainty for crop yields,» said Rahul Bajoria, managing director and head of EM Asia (ex-China) economics of Barclays.

marine gas turbines (MGT) that power warships and submarines of the Indian Navy. There is a sense of urgency to create a domestic ecosystem for such equipment given the war in Ukraine that has impacted Zorya-Mashproekt, the primary supplier of the MGTs to the Indian Navy. According to officials aware of the development, public sector undertaking Bharat Heavy Electricals Limited (BHEL) and Bharat Forge from the private sector are said to be among the companies that have been individually consulted for developing and supplying the MGT suited to the Indian Navy's needs. «Some inputs have also been provided by the Indian Navy to BHEL to aid the development of equipment and spares,» one of the officials quoted above told ET. The Ukraine-Russia conflict has impacted supply of spares and parts for MGTs. The move to develop indigenous options is also in line with the Make in India initiative to cut down imports of defence-related equipment.

By Karl Plume

(Reuters) — The U.S. drug regulator on Monday authorized updated COVID-19 vaccines from Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) that closely match the widely circulating Omicron variants, allowing the deployment of the shots to start as soon as this week.

NEW DELHI : Samhi Hotels Ltd, which plans to raise ₹1,370 crore by selling shares, will continue to expand its portfolio of business hotels in India’s top cities, Ashish Jakhanwala, the chairman, managing director and chief executive, said. Most of the proceeds — ₹1,100-1,150 crore—will go towards reducing debt, he said. The Gurugram-based company has 31 hotels, both owned and leased, across the country with 4,800 rooms.

NEW DELHI : India and Saudi Arabia agreed to link their power grids, underscoring a deepening energy alliance that could significantly boost the reliability of power grids in both countries and foster economic development. The agreement on linking power grids follows another more expansive infrastructure connectivity project plan to develop an India-Middle East-Europe economic corridor. The project, announced on 9 September during the G20 summit, envisages a rail and shipping corridor connecting India, the United Arab Emirates (UAE), Saudi Arabia, the European Union, France, Italy, Germany and the US.

NEW DELHI : India and the UK have launched an infrastructure financing bridge to plan and implement major infrastructure projects, finance minister Nirmala Sitharaman said on Monday. The two countries have also agreed to conduct investment negotiations in parallel with the goods negotiations to conclude their free trade agreement (FTA) talks.

NEW DELHI : The global proliferation of digital public infrastructures (DPIs) can be part of India’s soft power projection, in turn helping “increase our influence" around the world, said Ram Sewak Sharma, former chief executive of the Centre’s National Health Authority (NHA). In an interview on the sidelines of the first Digital Public Dialogues, a government-backed discussion forum in Delhi on Monday, Sharma underlined the importance of DPIs, which were a part of India’s agenda during its G20 presidency that concluded on 10 September. “China has a huge amount of money, which can be used to influence global stakeholders.

NEW DELHI : Bhashini, the government’s national language translation project, will release data on early adoption among private companies, as well as on the size of repositories on Indian languages collected and generated by the project in October this year, said Amitabh Nag, chief executive of Bhashini. “The internet does not have data repositories in languages such as Manipuri, which Bhashini is now building. It is still early days for the size of repositories in certain languages, but Bhashini will be making an announcement on the details of this by October this year," Nag told Mint . The executive affirmed that Bhashini now has data for text-to-text translations in 22 languages, while data for voice-to-text translations are available in 14 languages.

NEW DELHI : A global tax convention to tackle aggressive tax avoidance by the top 100 multinational corporations, especially tech giants, is likely to be signed by as many as 138 countries by the end of the year for implementation in 2025, David Bradbury, deputy director of the Organisation for Economic Cooperation and Development’s (OECD) Centre for Tax Policy and Administration said.8 [email protected] A separate but related framework for individual countries to enforce a 15% minimum global corporate tax rate is also being given finishing touches, he said in an interview after discussions on the subject by G20 leaders on Saturday. Bradbury, who was in New Delhi for the summit, said that the two elements of the proposed tax reform--pillar one which gives taxation rights to countries like India where people consume services of MNCs incorporated abroad, and pillar two prescribing a global minimum corporate tax rate--could come as separate measures. Edited excerpts: G20 leaders have said significant progress has been achieved on global tax reform. What is the status now? What we reported to the G20 leaders on Saturday is that a significant milestone has been reached by the inclusive framework on Base Erosion and Profit Shifting (BEPS, or the global initiative to tackle MNC tax avoidance).