Country Financial News
09.09 / 07:57
09.09 / 07:57
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'One man, one government, one business group': Congress takes swipe at government over Adani issue
Congress on Saturday attacked the government over the Adani issue, saying the G20 theme is 'One Earth, One Family, One Future' but Prime Minister Narendra Modi seems to actually believe in «One Man, One Government, One Business Group». The Congress has been questioning the financial dealings of billionaire Gautam Adani's group after US research firm Hindenburg alleged «irregularities» and charged it with stock price manipulation.
09.09 / 07:57
Citi
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inclusion
India's G20 presidency has become symbol of inclusion inside, outside country: PM Modi
G20 Presidency has become a symbol of inclusion both inside and outside the country, Prime Minister Narendra Modi said on Saturday that it has become «People's G20» in India and crores of citizens are connected with it. In his opening statement at G20 Summit being hosted under India's presidency, PM Modi spoke of global challenges and said 'Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas' can be the torch bearer to address these. The plaque in front of PM Modi at the G20 Summit said «Bharat». «India's G20 presidency has become a symbol of inclusion, of 'sabka saath' both inside and outside the country. This has become People's G20 in India.
09.09 / 07:35
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Adopting coherent maritime strategy for G20 nations can have huge economic significance, says Bjorn Hojgaard
Anglo-Eastern Shipping's CEO Bjorn Hojgaard on Saturday said that a coherent maritime strategy among the G20 nations can have huge economic significance. He also stressed on the need for streamlining collectively the visa procedures for bonafide seafarers by the G20 member countries.India is currently hosting the G20 leaders' Summit in New Delhi. G20 nations account for around 45 per cent of the world's coastline and 21 per cent of the world's Exclusive Economic Zones, according to Hojgaard.
09.09 / 07:35
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Placard reads 'Bharat' as PM Modi addresses G20 summit
Narendra Modi's country placard read 'Bharat' and not 'India', refueling the debate on a potential name change. During his address, the prime minister, among other things, announced the African Union as a permanent member in the Group of 20 top world economies.
09.09 / 07:35
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Saudi Arabian Crown Prince to hold talks with PM Modi on Monday, co-chair Strategic Partnership Council meeting
Saudi Arabian Crown Prince Mohammed bin Salman arrived in New Delhi on a three-day state visit during which he will hold a bilateral meeting and co-chair the first leaders' meeting of the Strategic Partnership Council with Prime Minister Narendra Modi. During this visit, the Crown Prince and Prime Minister of Saudi Arabia will also attend theG20 Summit being hosted in Delhi on Saturday and Sunday. He will continue his stay in India on Monday for the state visit, a statement issued by the Ministry of External Affairs (MEA) said in a statement. On his arrival, Saudi Crown Prince Mohammed bin Salman was received by Union minister Ashwini Vaishnaw at the airport. The Saudi Crown Prince had earlier come to India on a state visit in February 2019 and this will be his second state visit.
09.09 / 07:23
Citi
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'Need to adopt human-centric approach': PM Modi kicks off G20 with emphasis on global issues
Narendra Modi on Saturday commenced the two-day G20 Summit being held at the Bharat Mandapam in New Delhi. In his opening remarks, he called for a human-centric approach to address the global challenges. He emphasised the significance of the 21st century in finding new solutions to old challenges. PM Modi said that there is a need to adopt a human-centric approach to address global challenges and overcome trust deficits caused by the Russia-Ukraine conflicts. «The 21st century is an important time to show the world a new direction. This is the time when old problems are seeking new solutions from us and that is why we should move ahead fulfilling our responsibilities with a human-centric approach,» said the PM. He asserted that the war in Ukraine has resulted in a trust deficit at the global level and called on all the G20 summit leaders to work together.Also Read: This time for Africa! G20 agrees to make the African Union a permanent member
09.09 / 07:23
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Amid India vs Bharat debate, BHARAT stocks outshine on Dalal Street
Dalal Street. Not just today, but since the last 1-2 years, both foreign and domestic investors are increasingly betting on the domestic growth story and the potential that India holds to become a global powerhouse. A reflection of this can be seen in the performance of the S&P BSE Bharat 22 index, which has more than doubled in value in 3 years. In fact, the index hit a lifetime high of 6118.08 points on Friday. At a time when the sword of a recession was hanging over developed economies such as the US and Europe, India became the fastest growing economy in the world. The euphoria drove a whopping 28% rally in the Bharat 22 index on a year-to-date basis. “India continues to be one of the fastest-growing major economies in the World for the 3rd year in a row.
09.09 / 07:13
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G20 draft declaration leaves paragraph on Ukraine blank
climate change, cryptocurrencies and reforms in multilateral development banks. G20 sherpas have been struggling for days to agree on the language because of differences over the war, hoping to get Russia on board to produce a communique. India's G20 sherpa, or negotiator, Amitabh Kant, said earlier in the day the "New Delhi Leaders' Declaration is almost ready, I would not like to dwell on it ...
09.09 / 07:13
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Grandparents Day 2023: History, significance, and ways to make the day special for elders
When it comes about showering love, scolding, and sharing stories of yore, there is no match of our grandparents. They are always ready with their words of wisdom to help in solving problems. Every year, Grandparents day is celebrated on September 10 to cherish the love and affection showered by our elders.
09.09 / 07:13
Provident
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Who will save Europe’s economy?
Europe appears to be headed for a recession if it’s not there already, and matters are worse if you ask: Who will save it this time? Maybe Europe will have to fix itself. Previous dismal estimates for gross domestic product in the second quarter of the year were revised down to abysmal Thursday. The European Union had zero growth quarter-on-quarter, and 0.4% year-on-year.
09.09 / 07:13
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Sunil Mittal lauds inclusion of African Union into G20
Narendra Modi for successfully leading the inclusion of the African Union as a permanent member of the G20," he said in a statement Saturday. "As this announcement finds its way from New Delhi to the world, I am certain that this day will be remembered as a defining milestone towards charting more inclusive compositions across international organizations and their bodies," he added.
09.09 / 07:13
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Inside
G20 Summit: PM Modi calls on world leaders to overcome ‘trust deficit’ says ‘If we can defeat Covid…’ Key highlights
G20 Summit in Delhi began on 9 September with Prime Minister Narendra Modi's inaugural remarks. The Prime Minister's opening address to the G20 summit came with his nameplate labelled 'Bharat' on it. This came days after the invitations to the summit dinner were sent out in the name of the "President of Bharat", prompting rumours official usage of the country's English name would be scrapped.
09.09 / 06:55
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The extraordinary reasons why parts of Britain are going bust
Hilton hotel and the Chagos Islands have in common? They all feature on a long and increasingly bizarre list of stories behind the financial crisis sweeping Britain’s local authorities. While there’s been a steady dribble of so-called Section 114 notices from councils declaring effective bankruptcy in recent years, Birmingham City Council’s filing this week caused the most alarm. For Europe’s largest local authority, a legal battle over equal pay is proving a huge drain on resources. Its leaders conceded on Tuesday it faces “unprecedented financial challenges” with all new spending, except on core services, stopped in a bid to right the ship. Britain’s second city faces a bill as high as £760 million ($948 million) after a Supreme Court ruling from 2012 backed a group of largely female employees who missed out on bonuses that were given to staff in traditionally male-dominated roles at the council.
09.09 / 06:55
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China group slams India for stoking division at ‘sabotaged’ G-20
spy agency published a strong-worded criticism of India hours before Group of 20 leaders met in New Delhi, accusing the summit host of pushing its own agenda and causing disagreement. The commentary lamented that India held two prior G-20 sessions in disputed territories — one in Arunachal Pradesh that China also claims, and another in Kashmir, contested by Pakistan. The move has “sabotaged the atmosphere for cooperation at the G-20,” the China Institute of Contemporary International Relations said on its official WeChat account on Saturday. The post reveals a possible explanation for President Xi Jinping’s decision to stay away from the summit hosted by Prime Minister Narendra Modi after the Foreign Ministry declined to explain the absence.
09.09 / 06:55
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The African Union is joining the G20, a powerful acknowledgement of a continent of 1 billion people
African Union as a permanent member, a powerful acknowledgement of Africa as its more than 50 countries seek a more important role on the global stage. US President Joe Biden called last year for the AU's permanent membership in the G20, saying it's been «a long time in coming.» Indian Prime Minister Narendra Modi has said the bloc was invited to join during the G20 summit his country is hosting this week. The African Union has advocated for full membership for seven years, spokesperson Ebba Kalondo said.
09.09 / 06:55
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Kim Jong Un hosts Chinese and Russian guests at a parade celebrating North Korea's 75th anniversary
North Korea invited visiting Chinese delegates and Russian artists to a paramilitary parade featuring rocket launchers pulled by trucks and tractors, state media said Saturday, in leader Kim Jong Un's latest effort to display his ties with Moscow and Beijing in the face of deepening confrontations with Washington. The event in the capital, Pyongyang, which began Friday night to celebrate North Korea's 75th founding anniversary that fell on Saturday, came amid expectations that Kim will travel to Russia soon for a meeting with President Vladimir Putin that could focus on North Korean arm sales to refill reserves drained by the Kremlin's war on Ukraine. While China has sent a delegation led by Vice Premier Liu Guozhong to the North Korea's anniversary celebrations, Russia sent a military song and dance group. South Korean media speculated that the lack of Russian government officials at the festivities in Pyongyang could be related to preparations for a summit between Kim and Putin, which Washington expects within the month.
09.09 / 06:21
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G20 Summit: US, India, UAE, Saudi to finalise Middle-East shipping, railway deal
Joe Biden and Indian prime minister Narendra Modi are expected to announce the project as a part of the Partnership for Global Infrastructure Investment. The project, which is in line with president Biden's middle east strategy, will enhance connectivity, de-escalate conflict, and provide a counter for China's 'Belt and Road' initiative. This project, which will push commerce, energy trade, digital connectivity, high standards, will be executed in a transparent, non-coercive and sustainable way, Finer added.
09.09 / 06:21
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G20 special dinner to be hosted by President Droupadi Murmu for 170 guests; here's who is invited and who isn't
G20 summit in New Delhi on Saturday at a hall of Bharat Mandapam, the venue of the summit. Among those invited for the dinner include former Prime Ministers Manmohan Singh, HD Deve Gowda and various chief ministers of different states.
09.09 / 06:07
Digital
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PM Modi plaque at G20 Summit says 'Bharat'
Modi was identified as the leader of 'Bharat' at theG20 Summit that began on Saturday as he made his opening remarks at the beginning of the two-day meeting. The name card in front of Modi as he addressed the gathering at the Bharat Mandapam, the venue of the Summit, said 'Bharat'. The government has used 'Bharat', a name used in the Constitution for the country along with India, in several official G20 documents. A dinner invite sent to G20 delegates and other guests was addressed by the 'President of Bharat', a move which ignited a political row with opposition parties claiming the government is trying to drop 'India' from the country's name.
09.09 / 06:07
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G20 members to back EU-Mid East-India trade plan
G20 partners will unveil ambitious plans Saturday to bolster trade between India, the Middle East and Europe, the United States said — a modern-day Spice Route that could more closely bind three regions that account for about a third of the global economy. Washington, Saudi Arabia, the EU, UAE and others will sign an agreement on the sidelines of the G20 summit to explore a railway and port project to augment trade flows between Europe and India, officials said.Track all the live updates here The agreement comes with Washington actively engaging with Riyadh, a major oil producer and security partner, as it encourages the kingdom to normalise ties with Israel. Jon Finer, US deputy national security advisor, said the announcement came after «months of careful diplomacy, quiet, careful diplomacy, bilaterally and in multilateral settings». Finer said the plan could include shipping and rail transportation projects to «enable the flow of commerce, energy and data from here in India across the Middle East to Europe». This project «has enormous potential» he said.
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