Country Financial News

BEIJING : Eschewing face-time with foreign leaders at global summits this week, Chinese President Xi Jinping on Thursday visited the homes of villagers in a rural part of northeast China battered by floods. In the village of Longwangmiao in Heilongjiang province, Xi called on local residents to triumph over their difficulties and work towards returning life to a more normal footing, according to state media reports. He also enquired about their losses and supply of daily necessities.

Narendra Modi to advise his ministers to give 'befitting reply' on the Sanatan Dharma row, he would like to remind him of what Atal Bihari Vajpayee had said to him in 2002 on rajdharma. Prime Minister Modi reportedly spoke on both the Sanatan Dharma and the India versus Bharat controversies raging in the country -- in his meeting with the ministers before going for 20th ASEAN-India and 18th East Asia Summits. While PM Modi asked to exercise restraint on the India versus Bharat controversy, and he reportedly told his ministers to give befitting replies to the Sanatan row triggered by Tamil Nadu minister Udhayanidhi Stalin's statement that Sanatan is like dengue or malaria.

By Deena Beasley and Julie Steenhuysen

World Bank and the International Monetary Fund will play a critical role in helping countries confront economic, geopolitical and climate change challenges, said the heads of both institutions in a release issued on Thursday. “The Bretton Woods institutions have a critical role to play to help member countries address the challenges and leverage the opportunities, working closely together and with partners,” said Kristalina Georgieva, Managing Director of the International Monetary Fund, and Ajay Banga, President of the World Bank in a joint statement. The institutions stated that the world economy has slowed, with the medium-term outlook at the lowest in three decades.

Ashok Leyland plans to roll out its entire product range with alternate fuel options over the next 3-5 years to cater to different sets of customers, according to its Chairman Dheeraj Hinduja. The Hinduja group flagship, the country's second-largest commercial vehicle maker, also plans to grow its business in the international markets. In an interaction with PTI on the sidelines of an event to launch its latest range of electric light commercial vehicles range, Hinduja said that besides electric and CNG trims, the company is looking at all kinds of alternate fuels like hydrogen, ethanol etc to power its model range going ahead. «So, the priority is to make sure that our full range becomes available in all different alternate fuel types. Whatever the customer might require,» Hinduja said.

AIIMS, Safdarjung, Ram Manohar Lohia and Army Research and Referral Hospital to handle medical emergencies during the G20 Summit. The fully equipped teams are supported by the specialist Corps of Engineers teams to deal with any eventuality and the Army RR Hospital has also been put on standby, the Indian Army added.

By Natalia Siniawski

India will be an important country in terms of manufacturing in future, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) has said, his latest comment adding to a growing chorus of global voices acknowledging the country's bold moves to position itself as electronics and hi-tech production powerhouse. In an interaction with reporters in Taipei, the top honcho of the Taiwanese electronics manufacturing giant said the development of the entire ecosystem and industrial chain, and opportunities for development in India are «very, very huge opportunities». «If there is no big change, India will be a very important country in terms of manufacturing in the future,» Liu said. In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an «appropriate amount of time in India» and the process will be shorter given the experience.

Fintech Summit here. «Yes, they (China) went into (digital) payments very early with Alipay and WeChat Pay. But the rest of it is very interesting.

Prahlad Singh Patel said on Thursday. The Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Pradhan Mantri Micro Food Processing Enterprises (PMFME) scheme, and Production Linked Incentive (PLI) Scheme are three pivotal programmes actively championed by the food processing ministry, the minister said while speaking at speaking at 3-day ANUTEC — International FoodTec India & ANUFOOD India 2023. «These initiatives raise (help) our industry to meet global quality and safety standards, benefiting the entire food processing value chain. »The government has allocated Rs 4,600 crores to sustain PMKSY, and recently, the allocation of an additional Rs 920 crores to PMKSY reaffirms its commitment to sector growth and development.

The head of the U.S. Senate Foreign Relations Committee has asked America's top three oilfield services companies to explain why they continued doing business in Russia after its invasion of Ukraine

President Joe Biden hopes to demonstrate to the world at the upcoming Group of 20 summit in India and during a visit to Vietnam that the United States and like-minded allies can be more trustworthy partners than China on economic and security issues

U.S. Vice President Kamala Harris, Chinese Premier Li Qiang, and Russian Foreign Minister Sergei Lavrov joined the summit in the Indonesian capital led by the Association of Southeast Asian Nations (ASEAN), along with leaders of other partner countries. Tensions have accompanied the talks on issues from trade and technology, to China's increasing assertiveness in the South China Sea, the Myanmar junta's refusal to cooperate with ASEAN on a peace plan, the war in Ukraine, and suspicion that North Korea plans to supply weapons to Russia. Indonesia and other Southeast Asian countries have warned this week of «destructive» rivalries between major powers, a reference to U.S.-China tensions that they say puts them in danger. «We all have a responsibility to not create new conflict, new tension, new war and at the same time we also have a responsibility to reduce tensions,» Widodo, as chair of the 10-member ASEAN bloc this year, said at the beginning of the East Asia Summit. Cooperation and multilateralism risked being replaced by «the rule of the strong». «The world will be destroyed if conflicts and tensions in one place are taken to another place,» he said in closing the summit. On Wednesday, China's Li warned against starting a «new Cold War» and warned countries against taking sides in any conflict. Harris, attending in place of President Joe Biden, reiterated her country's «enduring commitment» to Southeast Asia and the Indo-Pacific. A White House official said earlier the U.S.

“We have signed a contract for 56 C295 aircrafts with the Indian Air Force, 40 of these will be fully manufactured, assembled, and maintained out of India,” Maillard told ET adding that the balance 16 aircrafts will come in fly away condition from Spain. “The first C295 aircraft will be delivered to the Indian Air Force this month itself.

labour market for Indian workers. However India's High Commissioner to Britain Vikram Doriaswamy said that the notion India wanted more visas had been in the British press but not in Indian media.

G20 Summit under the India's Presidency scheduled to be held from September 9-10, reported ANI. The French President will have a bilateral meeting with Indian Prime Minister Narendra Modi, likely in the form of a lunch on the 10th of September at the end of the G20 Summit.

WASHINGTON (Reuters) — The U.S. Treasury will push for a general increase in International Monetary Fund quota resources this year that would be spread evenly across the institution's membership, the department's top economic diplomat said on Thursday.

Roman Storm, co-founder of the sanctioned Ethereum-based crypto mixer Tornado Cash, has pleaded not guilty to charges related to money laundering and sanctions violations.

Renewable energy company Avaada Group on Thursday announced setting up a green hydrogen and ammonia manufacturing unit at Gopalpur Industrial Park of Tata Steel SEZ Ltd in Odisha. The announcement follows Avaada's signing of a memorandum of understanding (MoU) with Tata Steel Special Economic Zone Ltd (TSSEZL). Earlier, TSSEZL had signed an MoU with ACME Clean Energy.