Country Financial News

By Roushni Nair

India's drug regulator has started collating and compiling the profiles of pharmaceutical plants in the country. The Drug Controller General of India (DCGI) has asked drug companies to provide details of each of their units operational in the country.

Joe Biden on Thursday left for India to participate in the historic G20 Summit in New Delhi to be chaired by Prime Minister Narendra Modi. Biden will follow the COVID-19 guidelines of the Centers for Disease Control and Prevention (CDC) during his visit to India for the G20 Summit, the White House has said. First Lady Jill Biden, 72, tested positive for COVID-19 on Monday.

nuclear attack submarine it has been developing for years, a step leader Kim Jong Un described as crucial in his efforts to build a nuclear-armed navy to counter the United States and its Asian allies. The North's official Korean Central News Agency said the vessel — named "Hero Kim Kun Ok" — is designed to launch tactical nuclear weapons from underwater but did not specify the number of missiles it could carry and fire. In his speeches at the vessel's launching ceremony on Wednesday and an onboard inspection on Thursday, Kim expressed satisfaction that the country has acquired its own nuclear attack submarine to counter the advanced naval assets of the U.S., KCNA said. In July, the U.S.

Delhi district on Friday morning while online delivery services, except for medicines, have been barred in the area where the G20 summit venue and hotels for delegates are located, officials said. The New Delhi district has been designated as Controlled Zone-I from Friday 5 am till Sunday 11.59 pm because of the summit.

Argentina as they prepare to face Ecuador in CONMEBOL qualifiers this Thursday, September 8. Argentina, fresh off their World Cup victory, faces high expectations, especially with Lionel Messi performing exceptionally well for Inter Miami. With Messi's presence in Major League Soccer, the national team will also have Thiago Almada and Alan Velasco representing MLS. The expanded World Cup format for 2026 will see six South American teams qualify directly, providing Coach Lionel Scaloni with the opportunity to experiment with player rotations and assess talent that might not usually receive a chance.

FPIs), the capital market regulator has simplified the rule for identifying senior management officials (SMOs) in these offshore funds. The urgency to name a key official in an FPI is felt as it is often not possible to know who calls the shots in a fund which is often structured in multiple layers, with each vehicle in separate jurisdictions. Under the circumstances, the regulator had earlier said that the key official in the apex vehicle, which is at the top of the FPI chain, would be considered as the SMO. This did not go down well with most funds as senior officials of the top entity in New York and London were reluctant to be named as SMOs of a Mauritius or Singapore FPI vehicle, several layers below.

Authorities are raising the alarm about a social media challenge in which people eat extremely spicy chips and attempt to avoid eating or drinking anything for as long as possible

The sweltering heat wave in Texas has the power grid manager again asking residents to cut electricity use

Joe Biden leaves for the G20 in India on Thursday, aiming to boost alliances at a summit where global tensions will be highlighted by the absence of the leaders of China and Russia. Biden will try to show that on big transnational issues, Washington is a better partner than Beijing or Moscow -- and that the G20 remains a key forum.

Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for development of electronics manufacturing and industrial chains was very huge. Speaking to media at a group event in Taipei, Liu said that India would be able to build the ecosystem faster than China, which took 30 years, on the back of experience and new technologies such as AI. “Some of India’s development over the past few years, everyone can see that.

Chinese smartphone brand Realme is looking to expand local manufacturing in India through contract manufacturers several of whom are domestic companies besides asking its global suppliers to set up shop in the country, founder and global chief executive officer Sky Li said. The company aims to fully localize production of hearables and wearables in India after achieving complete local manufacturing of smartphones and televisions, Li said. «In terms of manufacturing, we are working to establish a strong manufacturing ecosystem all across India.

Parth Jindal, managing director, JSW Cement and JSW Paints, outlined the company's growth plans as it prepares for a public listing next year. Edited excerpts:How is current market opportunity playing out for JSW Cement? Our capacity is currently at 19 million tonnes a year. By the end of this calendar year, we will be at 21 million tonnes in capacity.

G20 members late Thursday agreed to make an effort towards the “phasedown of unabated coal power”, staying with the text of the Bali declaration on the issue. This was decided at the Sherpa-level deliberations that aim to finalise the text for the Leaders’ Declaration. India’s proposal to expand it to “phase-down of fossil fuel” ran into stiff opposition from Saudi Arabia and Russia, people aware of the deliberations told ET. The “phasedown of coal power”, agreed on in earlier declarations, is in the context of energy efficiency and in line with national circumstances, and does not impinge on India’s energy security, the people said. The cue was taken from the Bali declaration where the phrase “phasedown of unabated coal power” found agreement among all members. The language has also been used earlier in the UNFCCC Glasgow Climate Pact and the Sharm el-Sheikh Implementation Plan. Unabated coal power is generally understood to mean coal power without carbon capture utilisation and storage. There was no mention of a phasedown of coal power at the outcome of the G20 Energy Transition ministerial meeting in July, a prelude to the leaders’ summit.

raw sugar during the upcoming crushing season to help mills in states where adverse weather conditions are expected to hit sugarcane production. «India could import a certain quantity of raw sugar to supplement cane crushing in the areas where climatic impact is likely to reduce crushable sugarcane,» said industry body National Federation of Cooperative Sugar Factories (NFCSF) said in a press release on Thursday. There are concerns about production of sugarcane in Maharashtra and Karnataka, which is likely to affect availability of sugar for consumption and for ethanol production for blending with petrol in these states, it said. India had last imported raw sugar in 2017, after which the country has been an exporter. In 2021-22, India was the second largest exporter of raw sugar in the world. Sugarcane crushing for the 2023-24 (October-September) season will begin next month. NFCSF pointed out that crushing capacity has increased in Maharashtra, Karnataka and Gujarat in recent years and a likely shortage of sugarcane will prevent sugar factories from operating at full capacity, impacting their economies of scale. «Raw sugar, if used along with sugarcane for crushing, will not only enable mills to attain economies of scale of operation, but will help increase net sugar production,» it said. At the same time, the industry body has brushed aside as «rumours» talks of a likely shortage of sugar production in 2023-24, saying most cane-growing states have received good rains. «The situation is contrary,» it said.

IMF) and the Financial Stability Board (FSB) has set out a roadmap to coordinate measures to stop crypto assets from undermining macroeconomic and financial stability. However, the synthesis, put together at the request of the Indian G20 presidency, stopped short of endorsing a blanket ban on such assets, saying it can be “costly and technically demanding to enforce”. The crypto asset regulation is a key part of the agenda for G20 leaders when they meet in New Delhi this weekend. The IMF-FSB Synthesis Paper: Policies for Crypto-Assets provides comprehensive guidance to address the macroeconomic and financial stability risks posed by crypto-asset activities and markets, including those associated with stablecoins and those conducted through so-called decentralised finance (DeFi). The paper cautioned that these digital assets could have significant implications for monetary stability and capital flows, especially if they are granted official currency or legal tender status.

G20 Summit in Delhi. Some New Delhi-based retailers have also started seeing fewer footfalls because of ramped up security in the city and its neighbourhoods, impacting sales. «The event is expected to impact the supply chains of various brands whose stocks are sourced from Noida and Delhi factories.

G20 economy, but its clout is certainly growing. India will account for nearly 5% of G20 GDP in 2027, as it becomes the third largest and a $5-trillion economy.

NEW DELHI : Many national capital region (NCR) residents seeking a quick getaway to nearby resorts to take advantage of the long weekend and escape the G20 summit-related curbs were left stranded at home as their preferred properties were either fully booked or offered only a few rooms at exorbitant rates. Check-ins at Gurugram’s ITC Grand Bharat resort this weekend will cost approximately ₹40,000, including taxes a night for a room for two, while Heritage Village Resort & Spa in Manesar-Gurugram will charge above ₹19,000.

NEW DELHI : Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for the development of electronics manufacturing and industrial chains were huge. Speaking to reporters at an event in Taipei, Liu said India could build the ecosystem faster than China—which took 30 years—on the back of experience and new technologies such as artificial intelligence (AI). “Some of India’s developments over the past few years, everyone can see that.

Indian Prime Minister Narendra Modi says his country is “becoming the voice of the Global South."