Country Financial News

For small businesses that rely on summer tourism to keep afloat, extreme weather is replacing the pandemic as the determining factor in how well a summer will go

Egypt has resumed direct commercial flights to Sudan for the first time since a devastating war broke out between Sudan’s rival generals nearly five months ago

President Joe Biden says he doesn’t think an auto workers union strike is going to happen and tells a crowd gathered in Philadelphia for a Labor Day parade he’s celebrating union jobs

New Delhi has gotten a makeover ahead of this week’s summit of the Group of 20 nations

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of the year

China's foreign minister is seeking to sell his Italian counterpart on the benefits of leader Xi Jinping's signature “Belt and Road” initiative of Chinese-built and -funded infrastructure projects, as Rome considers whether to renew the agreement

Some employees in government offices in Nigeria walked off their jobs in protest of the growing cost of living due to the removal of gas subsidies, threatening to “shut down” Africa’s largest economy if their demands for improved welfare are not met

KYIV, Ukraine—A Russian military pilot who defected to Ukraine last month said he flew his Mi-8 helicopter low over fields with its transponder off to evade detection, capping an operation planned over months with Ukraine’s military intelligence agency. In his first public appearance at a news conference in Ukraine, Capt. Maksim Kuzminov said Tuesday that he reached out to the agency, best known by the acronym HUR, late last year after months lamenting the Russian invasion of Ukraine and his part in it.

Investing.com — Stocks were weaker on Tuesday, kicking off a holiday-shortened trading week as oil prices surged.

When the leaders of the G20 countries meet on the 9th and 10th of this month, a primary concern will be accelerating the energy transition to address climate change. There is unanimous acknowledgement of the immediate threat posed by climate change, as well as the urgent need to shift from fossil fuels to non-fossils at an accelerated pace to curb CO2 emissions and strive to limit the global temperature increase to 1.5°C from pre-industrial levels.India has one of the lowest per capita emissions in the world. Our per capita emission is 2.40 tCO2e (tonne carbon dioxide equivalent), whereas the global average is 6.3 tCO2e.

Dilli Haat, New Delhi is all decked up to host the who's who of global politics. The country will focus on 3Cs — culture, crafts, and cuisine — to entertain global leaders at the G20 summit this weekend, officials told ET. Areas in New Delhi that have been transformed with plants and pots include Sardar Patel Marg, Mother Teresa Crescent, Teen Murti Marg, Dhaula Kuan-IGI Airport Road, Palam Technical Area, India Gate C-Hexagon, Mandi House, Akbar Road roundabout, Delhi Gate, Raj Ghat and the ITPO. Thematic murals have been painted on the walls across the city. These include landmarks from India and other G20 member countries such as the Taj Mahal, London Bridge, Leaning Tower of Pisa, Eiffel Tower and Christ the Redeemer. Metro stations have also got a makeover. Almost 10,000 guests will be in the city this week.

Investing.com-- Gold prices fell Tuesday as the U.S. currency and bond yields remained firm before a string of Federal Reserve speakers this week. 

NEW DELHI : India has volunteered to man and manage the global repository of all digital public infrastructure (DPI) through an open-source platform, minister of state for electronics and IT Rajeev Chandrasekhar said, adding that there was interest from multilateral institutions, government and non-government organizations to finance the expansion and adoption of DPIs. “The global DPI repository, which would be essentially the platform where all of these DPIs, will be open in open-source manner, shared technology and innovation and be available to the whole world, will be manned by and managed by us.

Volkswagen (VW) Group will adopt a phased approach to localisation of its battery electric vehicles (BEVs) in India and will await a strong business case before committing to offering affordable, 'Made in India' EVs, chairman of board of management of Volkswagen Group, Oliver Blume, told ET. This is even as the world's second largest automaker by volume, which sells the Skoda, Volkswagen, Audi, Lamborghini and Porsche brands in India, is a lot more confident of the Indian market now owing to the fast-paced growth it has seen in the country in the recent past that has made it the third largest car market globally. Blume was speaking on the sidelines of the Volkswagen Group's annual press meet in Munich. «We have a ramp-up curve for electric mobility, which includes bringing the right products and right positioning, especially for the Indian market, where you also need to address the lower segments.

India led in net mobile subscription additions in the April-June quarter, beating countries like China and the United States as the total number of global mobile subscriptions rose to 8.3 billion, Ericsson said. According to the quarter update in the Ericsson Mobility Report, global mobile subscriptions grew by 40 million, and global 5G subscriptions grew by 175 million.

India a refuelling hub for green ships backed by its target of producing the cheapest green hydrogen, ammonia and methanol in the world, power and renewable energy minister RK Singh said on Tuesday. «The shipping world will go green. Just give it 5-7 years or 10 years.

digital economy ministers of the G20 nations have reached a consensus on the definition, framework and working principles for digital public infrastructure (DPI), minister of state for electronics and information technology Rajeev Chandrasekhar said. «India is now a case study, as a nation that employed and deployed technological tools for progress and growth. Countries that have lagged behind increasingly see this as a way to follow India's lead in DPIs, an open-source digital infrastructure, and use it to create the same impact that India has,» he said. Chandrasekhar was briefing the media on the outcome of a meeting of the digital economy ministers of G20, which had happened in August.

Leela Palaces, Hotels and Resorts business, after the initial deal, which involved an investment of ₹4,500 crore, Ankur Gupta managing partner and head of real estate for the APAC region at Brookfield Asset Management told ET in an exclusive interview. This is the largest ever foreign investment in the Indian hospitality sector. Gupta said the hotel chain is expected to post its best performance in the last three decades in the current year with 'strong' profit margins.

BENGALURU, NEW DELHI : Six of the eight Bermuda and Mauritius-based public funds alleged to have been used by people with ties to the Adani Group for buying shares of the conglomerate’s listed companies, have been shut, according to regulatory filings in these countries accessed by Mint, posing a challenge for the Securities and Exchange Board of India (Sebi) in determining the ultimate beneficiaries of these investment vehicles. The Organized Crime and Corruption Reporting Project (OCCRP), a global network of investigative journalists, recently reported that people with ties to the Adani family secretly held significant stakes in group entities in possible violation of the country’s law on maximum ownership by promoters in listed entities, through some of these funds.

NEW DELHI : Several foreign-owned or controlled companies (FOCCs) are under the Reserve Bank of India’s (RBI) scrutiny for alleged violation of foreign exchange rules, two people privy to the development said. The companies have received notices from the regulator inquiring whether they would want to settle the case, the people said on condition of anonymity. If firms don’t settle the case, RBI can pass orders.

Mint reported that India was holding discussions with Namibia, Mozambique and Kenya to enter into commercial partnerships for launching UPI in the markets. “We have specific objectives for popularising and internationalising Rupay and UPI," he added. Ritesh Shukla, the international chief executive of NPCI, recently said the number of countries using UPI will double in 12-18 months.