Country Financial News

WASHINGTON (Reuters) — Top U.S. Senate Democrat Chuck Schumer on Friday said House Republicans would be to blame if lawmakers are unable to reach a deal to keep the government funded past Sept. 30, triggering the fourth partial shutdown of federal agencies in a decade.

Reserve Bank of India Governor Shaktikanta Das has been ranked as the top central banker globally by US-based Global Finance magazine.

Right policies and a proactive approach by the government will help India achieve USD 2-trillion exports target of goods and services by 2030, Chairman, CII national committee on EXIM, Sanjay Budhia, said here on Friday.

Labor Day is right around the corner

By Gavin Jones

Canada’s Environment and Climate Change Minister, Steve Guilbeault, couldn’t resist taking a swipe at Suncor’s CEO, Rich Kruger — not even as the minister visits China, the biggest GHG emitter of all. Tuesday, he criticized Kruger’s recent statement that Suncor has been focusing too much on the energy transition and not enough on its core business. Using this as a pretext, Guilbeault made clear that his government’s made-up cap on oil and gas emissions — an arbitrary 42 per cent reduction by 2030 — is even more necessary to force companies to comply than he had been arguing. Let’s see how he does persuading his Chinese hosts to stop building two new coal plants every week.

The Canadian economy slowed more than expected in the first half of the year, a development that could strengthen the case for the Bank of Canada to hold interest rates when it convenes next week.

E-recruitment activities in India fell by 5% in August compared to the same month last year as companies are cautious following challenges posed by inflation and the slow growth of other major economies such as the US, a report said on Friday. Sequentially also, the e-recruitment activities witnessed a 3% decline in August, foundit's (formerly Monster APAC and ME) 'foundit Insights Tracker (fit)' revealed. «While hiring has slowed down overall in several sectors in the country, our nation's economy maintains its resilience amidst global uncertainties. A large contributing factor to this stability is the government's emphasis on nurturing sectors such as shipping, finance, and travel,» foundit, a Quess company, CEO Sekhar Garisa said.

Domestic passenger vehicle sales hit a record in August led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand and the continued strong offtake of SUVs. Hyundai Motor India, Mahindra & Mahindra and Toyota Kirloskar Motor also reported strong dispatches to dealers last month. Tata Motors, however, saw a dip in domestic passenger vehicle sales in August. «The month of August was a very good month for the industry.

Adani Group companies recovered on Friday with the market valuation going up by Rs 13,500 crore a day after a report by OCCRP alleged that billionaire Gautam Adani used family associates to secretly invest hundreds of millions of dollars through «opaque» Mauritius-based investment funds to fuel the rise in group stocks.

New Delhi, A coalition of institutions from dengue-endemic countries aims to deliver a new treatment for dengue from repurposed drugs and combinations within 5 years, according to a comment published in The Lancet Global Health journal. The mission of the alliance, The Dengue Alliance, is to accelerate research and development and deliver dengue therapeutics through an inclusive partnership, it said. «An integrated approach that comprises vector control, use of safe and effective vaccines, and an effective treatment is needed to face the growing challenges of dengue infection,» the alliance formed by the Drugs for Neglected Diseases initiative (DNDi), Switzerland, said in its comment.

INDIA bloc leaders on Friday vowed to finalise seat sharing in an accommodative spirit, with Congress leader Rahul Gandhi claiming the alliance represents 60 per cent of the country's population and will easily defeat the BJP if it fights the Lok Sabha polls unitedly. Amid speculation of early polls and the government setting up a panel to explore the possibility of 'one nation, one election', leaders from 28 Opposition parties took crucial decisions at their conclave here, including setting up a 14-member coordination committee which will be the top decision-making body of the alliance and start work on seat sharing. Addressing a joint press conference after the two-day brainstorming here on crystallising the alliance's structure, Congress President Mallikarjun Kharge alleged the BJP-led government was stealing from the poor to help big industrialists.

Criticising live-in relationships, the Allahabad High Court observed that there is a “systematic design to destroy the institution of marriage,” reports The Indian Express.

India and the United Kingdom are speeding up their efforts to finalize a Free Trade Agreement (FTA) by the end of the year, with the 13th round of negotiations scheduled for later this month. The recent conclusion of the 12th round of discussions on August 31, 2023, signals the determination of both nations to make progress in this important economic partnership.

By Diwakar Chandiok

a committee has been constituted. A report of the committee will come out, which will be discussed. The Parliament is mature, and discussions will take place; there is no need to get nervous...

MOSCOW (Reuters) — Russian Deputy Finance Minister Alexei Moiseev said on Friday that the government would not allow foreign banks to leave Russia easily.

By Xie Yu

By Liangping Gao and Clare Jim

foreign exchange reserves are down by $30 million at $594.85 billion for the week ending August 25, latest data by the Reserve Bank of India (RBI) showed on Friday. Previously India’s Forex reserves for the week ending August 18 dipped by $7.28 billion to $594.90 billion. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $538 million to $527.24 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves surged by $530 million to $44.35 billion, whereas SDRs decreased by $11 million to $18.19 billion. Reserve position in the IMF decreased by $12 million to $5.06 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.

Nitish Kumar, a key figure in the anti-BJP bloc, on Friday said the 2024 Lok Sabha elections are likely to be advanced and called upon opposition parties to be alert. Speaking at a press conference organised after the two-day conclave of the Indian National Developmental Inclusive Alliance (INDIA) in Mumbai, Kumar expressed confidence the newly formed opposition bloc will defeat the Bharatiya Janata Party (BJP) whenever elections are held. «The BJP wants to change the country's history. Our aim is to strengthen the country and ensure welfare of all sections of society.