Country Financial News

MERSIN, Turkey (Reuters) — Rescuers raced on Sunday to rescue an American caver who had become trapped more than 1,000 metres (3,300 ft) underground in southern Turkey, moving him halfway to the surface.

BEIJING (Reuters) — China's financial regulator on Sunday reduced the risk weighting it attaches to insurance companies' holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country's lagging stock market.

By Katya Golubkova, Michel Rose and Manoj Kumar

(Reuters) — The United States and Saudi Arabia are in talks to secure metals in Africa needed to help them with their energy transitions, the Wall Street Journal reported on Sunday, citing people with knowledge of the talks.

HANOI (Reuters) — The United States and Vietnam announced new deals and partnerships as U.S. President Joe Biden visited Hanoi on Sunday including billions of dollars in plane orders, heightened human rights discussions, digital economy education and semiconductor design centers.

By Nandita Bose, Francesco Guarascio and Trevor Hunnicutt

Investing.com — The news came as quietly as it could on a Friday afternoon and passed without any discernible impact. And understandably too: The U.S. oil rig count went up by one last week, after a drop of 127 over the past year.

trans-Atlantic alliance is taking shape. It is building on India's bilateral ties with the US on end of the pond, and with France on the other.

Supreme Court has dismissed a PIL seeking cancellation of Centre's decision of September 15, 2021 to grant relief to the stressed telecom sector from paying statutory dues, saying these are all matters of policy and decision-making is on the basis of experts' opinion. In a breather to telecom service providers struggling to pay Rs 93,520 crore of Adjusted Gross Revenue (AGR) related dues, the top court on September 1, 2020 gave them a 10-year period to clear their outstanding amount to the government. A bench of Justices B V Nagarathna and Ujjal Bhuyan said that no doubt, the apex court by its judgment had issued certain directions with regard to the telecom sector but in the backdrop of the COVID-19 challenges, with huge surge in data consumption, online education, work from home, etc., reform measures were found necessary to boost the proliferation and penetration of broadband and telecom connectivity. «In our view, these are all matters of policy and decision-making which is on the basis of experts' opinion and on emerging situations and exigencies, to be made in the interest of the welfare of the people of India having serious technical and financial implications and, therefore, have to be in public interest. »Hence, we do not think such Cabinet decisions could be lightly interfered with by a Court of law in the absence of there being any particulars or materials brought to the notice of the Court assailing the Cabinet decisions, as being unconstitutional or arbitrary in nature or contrary to law," the bench said.

G20 summit, with Justin Trudeau remaining adamant on the concept of «Freedom of Expression» for communities in his country and «foreign interference». Modi minced no words when he told Trudeau that relations were anchored in shared democratic values, respect for rule of law and strong people-to-people ties, officials informed. Modi conveyed India's strong concerns about continuing anti-India activities by extremist elements in Canada. They are promoting secessionism and inciting violence against Indian diplomats, damaging diplomatic premises and threatening the Indian community in Canada and their places of worship, officials said, adding that the nexus of such forces with organised crime, drug syndicates and human trafficking should be a concern for Canada as well.

Japanese PM Fumio Kishida on Sunday said the New Delhi Declaration was significant as all members, including Russia, agreed that «states must refrain from the threat or use of force to seek territorial acquisition». However, he did not get into the specifics of the language of declaration. On the safety of Japan's release of treated radioactive water from the Fukushima nuclear power plant, he said, «Many countries already viewed the process of discharge as safe and transparent.

Sitharaman and I are coming together today for an Economic and Financial Dialogue (EFD), the 12th meeting of its kind. Since 2007, our predecessors have been using these unique opportunities to make key decisions that will advance bilateral trade, investment and collaboration between the British and Indian economies. Trade between our two countries has more than doubled in this time. As ever, there’s a lot to discuss — from infrastructure to pensions and to reaching climate and sustainability ambitions.

India and France on Sunday decided to focus on early finalisation of the defence industrial roadmap when Prime Minister Narendra Modi met French President Emanuel Macron over a lunch meeting here following the G20 summit. The leaders reiterated their commitment to strengthen defence cooperation through partnership in design, development, testing and manufacture of advanced defence technologies and platforms, and expand production in India, including for countries in Indo-Pacific and beyond. They also called for early finalisation of the defence industrial roadmap, according to a joint statement issued following talks. Laying emphasis on digital, science, technological innovation, education, culture, health and environment cooperation, both leaders called for strengthening institutional linkages in these domains, on the model of the Indo-French Campus for Indo-Pacific.

The creation of a working group on women empowerment under India's G20 presidency will address the issue of low female labour force participation, says Richard Samans, the G20 Sherpa of the International Labour Organisation. In an interview with Yogima Seth Sharma, he says multilateral institutions should help India build capacities to provide decent work and social protection to its workers. Edited excerpts:Countries world over are fixing wage standards and standards for working conditions for their trading partners. How do you see this impacting the workforce in India and elsewhere? This has been a long-standing controversial issue in the international trade regime.

Afghanistan has surged in recent years, said a UN report published Sunday, indicating an expansion of the drug's production following the Taliban's crackdown on the opiate trade. Afghanistan's Taliban rulers have clamped down on the decades-old, lucrative trade in poppy tar — the psychoactive substance in heroin -since surging back to power two years ago. But while heroin trade has slowed, according to the United Nations Office on Drugs and Crime (UNODC), methamphetamine trafficking in and around Afghanistan has «intensified since the ban». By monitoring drug busts in Afghanistan and neighbouring countries, UNODC has found a «drastic, nearly twelvefold increase in seizures of the drug in five years from 2.5 tons in 2017 to 29.7 tons in 2021», said a statement announcing the report.

The release of a paper that synthesised separate recommendations by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to coordinate measures to stop crypto assets from undermining macroeconomic and financial stability was advanced by about a month so that G20 members could form their assessment on that before the Leadership Summit on September 9-10, he said. The paper, released on September 7, has endorsed regulation of crypto assets, instead of a blanket ban, saying the prohibition could be «costly and technically demanding to enforce».

Nazis during World War II for hiding Jews, will be beatified Sunday, the first time an entire family is given one of Catholicism's highest honours. The ceremony in the family's hometown of Markowa in south-east Poland will be attended by over 30,000 people, including 80 bishops, 1,000 priests, the country's chief rabbi and an Israeli delegation. It was there, on March 24, 1944, that German police acting on a tip-off shot dead Jozef Ulma and his wife Wiktoria, who was seven months pregnant and partially gave birth during the execution. Their children, Stanislawa, Barbara, Wladyslav, Franciszek, Antoni and Maria, aged between two and eight, were killed too, along with the eight Jews the family had been hiding in the attic. The eight — Shaul Goldmann and his five children, including his daughter Lea Didner and her five-year-old daughter, and Golda Gruenfeld — were also shot, before the family farmhouse was looted and set on fire.

G20 summit was a blockbuster — no two ways about it. India managed to forge consensus, produce a clean communique, announce a mega connectivity project linking different worlds and welcome the African Union (AU) as a new member. Broad message to those creating an alternate order: the wait time got longer. G20 as a group of both rich and developing countries, established and emerging markets, can work together when it wants to, and listen and learn when it wants to — especially when the wolf is at the door.

JCB) Excavators, one of the world's largest manufacturers of construction equipment like backhoe loaders and telescopic handlers, aims to increase exports from its India unit this year to 45% of its output, up from 10% five years ago, a top executive said. India, one of the fastest-growing major economies, is JCB's largest market outside Europe. Here, the Bamford family-owned company is also looking to test its recently developed hydrogen combustion engine, its chairman, Lord Bamford, told reporters at the company's global headquarters in Rocester, UK. JCB is also looking to make electrolysers which will produce hydrogen from water for testing its zero-emission backhoe loaders — a first in the construction equipment sector — Bamford said, adding that the electrolysers will be produced for captive consumption. The company plans to commence production of the electrolysers in the next 18 months at its UK facility.

Joe Biden on Sunday said he held «substantial discussions» with Prime Minister Narendra Modi on ways to strengthen the Indo-US partnership and thanked him for his leadership and hosting the G20 Summit in New Delhi. Biden told reporters here in the Vietnamese capital that he also raised the importance of respecting human rights with Prime Minister Modi. Biden, who arrived in New Delhi on his first visit to India as the US President, held wide-ranging talks with Modi and they vowed to «deepen and diversify» the bilateral major defence partnership while welcoming forward movement in India's procurement of 31 drones and joint development of jet engines. «I want to once again thank Prime Minister Modi for his leadership and his hospitality and hosting the G20.

Manipur BJP MLA Rajkumar Imo Singh has written to all the MLAs of the state seeking change in the land law whereby non-tribal can own land in the tribal areas of the state. Presently, tribals can purchase land in the non tribal dominated valley of the state. Imo Singh who is son in law of Chief Minister N.