Country Financial News

Deepak Parekh, former chairman of HDFC Limited, today said that the most difficult decision he had to make in his career was stepping down as Executive Chairman of HDFC at the age of 65. At that time, the board expressed a desire for him to continue, but Parekh made the tough choice to retire, believing it was essential to create opportunities for the next lot. «I decided after a lot of thinking and much against my family's wishes that it is not fair for me to continue, and I retired in my 65th year as the executive chairman of HDFC,” said Parekh speaking to an audience during the global Fintech fest on Thursday. “I thought if I continued, it would come in the way of the next lot of people.“ He added that this retirement meant that for the past 13 years, Parekh hasn't received any salary, and as a non-executive chairman, he wasn't entitled to stock options.

A World Bank eport says online gig work is growing globally and is creating an important source of employment for women and young people in poorer countries where jobs are scarce

A top government official says Turkish President Recep Tayyip Erdogan supports his new economic team's plan to increase interest rates to lower the country's soaring inflation

G20 major economies are gathering in New Delhi, led by India, to tackle pressing global issues amidst a divisive geopolitical climate due to the Ukraine conflict. India has gone to great lengths, employing drones, murals, and large langur cutouts to enhance security and logistics for the event.

Why Countries & Corporates Want To Go To Space...

With Russian foreign minister Sergey Lavrov insist... moreWith Russian foreign minister Sergey Lavrov insisting that his country will block any G20 summit declaration that doesn't reflect Moscow's views on Ukraine and other crises.

Prime Minister Narendra Modi is in Jakarta to atte... morePrime Minister Narendra Modi is in Jakarta to attend the ASEAN-India Summit.

Nasdaq 100 futures declined 0.5% in early New York trade on Thursday as Apple (NASDAQ:AAPL) stock selloff continued for the second consecutive day.

Nabh Shakti', a joint training exercise, was conducted in the Indian Army's elite Brahmastra Corps in the Northeast states, Army officials said on Thursday. Both Indian Army and Indian Air Force participated in the joint exercise. «Joint Training Exercise 'Nabh Shakti' was conducted in the Indian Army's Brahmastra Corps (Mountain Strike Corps) with the participation of the Indian Army and Indian Air Force to validate rapid response to dynamic operational scenarios and enhance joint acumen in multimodal operations,» Indian Army officials said in a statement. «The exercise achieved integration at all strata enmeshing operational concepts and procedures,» the official added. 17 Mountain Strike Corps has been raised by the Indian Army to carry out strike operations in enemy territory during conflicts with the adversary in eastern parts of the country.

Congress on Thursday took a swipe at the government over the heads of state of Russia and China not coming for the G20 Summit, saying their absence raises a lot of questions which External Affairs Minister S Jaishankar should answer.

Hinduja group flagship Ashok Leyland on Thursday said its aiming to be among the top 10 global commercial vehicle manufacturers in the near future. According to company chairman Dheeraj Hinduja, the heavy commercial vehicle maker is looking at exploring newer markets. Top officials of Ashok Leyland were in Chennai to mark the 75th anniversary celebrations of the city-headquartered company. «You know our vision is clear and we have discussed it many times, that is to be a global Top 10 commercial vehicle player. Currently, we are at No 20...» Hinduja told select reporters. Elaborating, he said the company's sales volume was growing in the Indian market and the 'Avtar' product developed by Ashok Leyland was a modular product, and such products have been developed with a mindset to serve international markets. «What is critical for us is to create the right network outside of India, find appropriate distributors in markets where we are currently not present,» he added. In the last 16 months, the company appointed 13 distributors in the African market with some of them having their own Assembly facility. «We are constantly looking at newer markets..» hinduja said. On the products offered by the company, Ashok Leyland Managing Director and CEO Shenu Agarwal said the country's first hydrogen fuel bus developed by them would be commercially plying on the road by December. On the Hydrogen fuel bus developed by the company for state-owned NTPC, he said, "… it is going to be the country's first hydrogen fuel bus that would be commercially plying on the road.

Foxconn Technology Group is teaming up with STMicroelectronics NV for a bid to build a semiconductor factory in India, seeking state backing to broaden its footprint in the South Asian country. Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, people familiar with the matter said, asking not to be identified as the plan isn’t public. Such mature chips are used in cars, cameras, printers and a wide variety of other machines.

Thick, white clouds obscured the skyline at 7 a.m. on a recent weekday morning, when a ferry bound for Fishers Island, N.Y., departed New London, Conn. Carrying mail, groceries and day workers, the boat churned through slate-colored water, past the island’s rocky shoreline and into a small harbor where it docked with little fanfare about 45 minutes later.

A year after the death of Queen Elizabeth II triggered questions about the future of the British monarchy, King Charles III’s reign has been marked more by continuity than transformation, by changes in style rather than substance

Poland’s central bank has lowered its interest rates by 75 basis points despite the country’s double-digit inflation rate

Rescue teams in Turkey, Greece and Bulgaria have recovered the bodies of seven more people following floods after fierce rainstorms

Fijian authorities say they are in the process of deporting six leaders of a South Korean religious sect that a decade ago moved hundreds of followers to Fiji and built a series of thriving businesses

Australia and China have started their first high-level dialogue in three years in a sign of a slight thaw to relations between countries that have clashed on human rights, COVID-19 and trade

A two-day summit in Romania has started in the country's capital bringing together 12 European Union member states situated between the Baltic, Black and Adriatic Seas

Chinese Premier Li Qiang has taken a test ride on Southeast Asia’s first high-speed railway, which connects two Indonesian cities as part of China’s Belt and Road infrastructure initiative

Chinese exports and imports both fell in August, reflecting tepid global demand that is adding to pressures on its slowing economy