Country Financial News

Artificial intelligence (AI) is going to augment human ingenuity, not replace it, said Shantanu Narayen, chairman and chief executive of $17.61-billion Adobe Inc. The Hyderabad-born executive, who has been at the helm of the Nasdaq-listed company for the last 15 years, cautioned that a rush to regulate AI and «arbitrarily limiting advancements may be harmful».

Kazakhstan has ranked 25th in the World Bank's Ease of Doing Business Report. The office of KAZAKH INVEST in India is ready to provide assistance, starting from an idea to the commissioning.

India and Greece on Friday agreed to elevate their relationship to a ‘Strategic Partnership’ as PM Narendra Modi held wide ranging dialogue with Kyriakos Mitsotakis, Prime Minister of Greece in Athens. The two leaders called for respect of international law, sovereignty and territorial integrity in the backdrop of India’s consistent support on Cyprus issue and Greece’s constant support on the Kashmir issue. The PM level discussions covered various dimensions of the bilateral partnership, including trade and investment, defense and security, technology, infrastructure, digital payments, shipping, pharma, agriculture, migration and mobility, tourism, skill development, culture, education and people to people ties, an official informed. They also discussed regional and multilateral issues, including the EU, Indo-Pacific and the Mediterranean. “Greece expressed its support for the India-EU Trade and Investment Agreement. Over the Ukraine issue, both countries support diplomacy and dialogue.

Narendra Modi flew down to Bengaluru on Saturday morning directly from the Greek capital of Athens to congratulate and interact with ISRO scientists involved in the Chandrayaan-3 mission to the Moon. Modi is slated to visit ISRO Telemetry Tracking and Command Network (ISTRAC) here, where he would be briefed by top ISRO officials about the progress of the country's third Lunar venture. «Landed in Bengaluru.

Artificial intelligence (AI) is going to augment human ingenuity, not replace it, said Shantanu Narayen, chairman and chief executive of $17.61-billion Adobe Inc. The Hyderabad-born executive, who has been at the helm of the Nasdaq-listed company for the last 15 years, cautioned that a rush to regulate AI and «arbitrarily limiting advancements may be harmful». In a wide-ranging conversation with ET's Surabhi Agarwal & Bodhisatva Ganguli, he also talked about the role that Adobe India is playing in building the next-gen AI-led products and the monetisation opportunities for the company arising out of the AI boom. Narayen, 60, who is among the original crop of the ever-growing list of Indian-origin CEOs leading American multinationals (MNCs), also said that the future of India is «very bright» because of the right combination of demographics, talent and technology and what the government has done with the digital public goods is incredible.

"The Kashmir Files" winning the Nargis Dutt award for best film on national integration is very unfortunate and nothing can be more ironic than this, the National Conference and the Peoples Democratic Party said here on Friday. "There is not a single scene in that movie that depicts national integration.... Unfortunately, the movie only shows Kashmiri Muslims in bad light.

The prime ministers of India and Greece have pledged to boost their countries’ trade, business and defense ties during a visit to Athens by Indian Prime Minister Narendra Modi

Lebanon’s interim central bank governor has called on the country’s ruling class to quickly implement economic and financial reforms that the central bank won’t offer loans to the state and does not plan on printing money to cover the huge budget defic...

Interest rates in the European Union will need to stay high “as long as necessary” to slow still-high inflation, Christine Lagarde, president of the European Central Bank, said Friday

Taiwan’s vice president and front-runner in upcoming presidential elections has accused China of employing unfair trade practices that could be used to influence the voting

Dutch brewer Heineken says it has completed its withdrawal from Russia, 18 months after Moscow launched its full-scale invasion of Ukraine

Sarbananda Sonowal has asked all the states of northeast India to explore the possibility of setting up an Integrated Ayush Department in the leading state hospitals, in line with setting up of similar departments in all 19 AIIMS. The Regional Review Meeting of Northeastern states of India was ceremonially inaugurated by the Chief Minister of Assam, Himanta Biswa Sarma along with Sonowal in Guwahati. The event was also attended by health ministers of Assam, Arunachal Pradesh, Manipur, Mizoram, Sikkim, Tripura along with senior officials from Meghalaya, Nagaland as well as other states of the region. The Union Minister of State for Ayush and Women & Child Development, Dr.

World Trade Organization (WTO) agreements, and will also continue to assist developing countries and least developed countries (LDCs). However, like several other G20 meetings, the text on Ukraine war and its impact on global economy became a point of contention between the member nations, chiefly Russia and China. Russia rejected the inclusion of geopolitical Para 32, saying it doesn’t conform to the G20 mandate and recognizes the status of Para 32 as Chair’s Summary.

India has leapfrogged over the last decade and other countries can learn from its financial inclusion model and move much faster, State Bank of India (SBI) chairman Dinesh Kumar Khara said on Thursday. «If you look at it in our country, I think it's a lesson for all of the globe on how the payment system could be so efficient, cheap and economical,» Khara told ET on the sidelines of the B20 Summit. He said if Jan-Dhan had been a pure vanilla account, people would not have shown so much interest and that it is the addition of services that has given it nuance.

Amit Shah on Friday urged senior police officers to implement the new criminal laws, once they are passed by Parliament, at the grassroot level to revamp the criminal justice system. The committee on home affairs is holding discussions on the proposed laws replacing the colonial-era Indian Penal Code (IPC), 1860, Criminal Procedure Code (CrPC), 1898, and Indian Evidence Act, 1872. The Bills were introduced by Shah in Lok Sabha during the monsoon session.

onions increasing upside to the food inflation, which has jumped to 11.51% in July; up from 4.49% in June. With rainfall deficiency of up to 40%, the dry weather conditions are likely to extend for a few days in September as well, said experts. «August was highly deficient in rainfall and this dryness is likely to spill to September, at least the first few days of the month,» said GP Sharma, president of private weather company Skymet. According to IMD, from August 30 to September 6, the rainfall activity is likely to remain below normal for most parts of the country except northeast, east and adjoining central India. As most of the kharif crops are waiting for a spell of showers, this extended period of dryness may not auger well for many kharif crops. Dharmakirti Joshi, chief economist at ratings agency Crisil said, «During the last one-and-a-half months, the inflation risk has risen.

Varanasi Culture Ministers' Declaration' will be issued after a meeting of the culture ministers of the G20 nations on August 26. Union Culture Secretary Govid Mohan said this during a press briefing on the ongoing fourth and last meeting of the G20 Culture Working Group and the Culture Ministers' Meeting being hosted in the temple town. The G20 Culture Ministers' Meeting is slated to be held here on Saturday where several ministers and representatives from the G20 member nations and guest countries along with representatives of six international organisations will take part in deliberations. The international organisations include UNESCO and ICOMOS. «The fourth Culture Working Group Meeting that began yesterday came to an end today, and tomorrow the ministerial meeting will take place at the end of which a Varanasi Culture Ministers' Declaration will be issued,» Mohan said. «We are moving towards a full consensus,» he said, adding that they have moved from draft zero to draft 4, ironing out disagreements. The press conference was addressed by Union Culture Minister G Kishan Reddy, his deputy in the ministry Meenakashi Lekhi and Mohan. Meanwhile, the city and its ghats have been spruced up for the mega G20 event.

Resilient Global Trade and Investment, Group Chairman & Chief Executive Officer, DP World, Sultan Ahmed Bin Sulayem said, «The COVID-19 pandemic showed the resilience of global supply chains.» "Nearshoring was mentioned in 2013-14, but when covid happened, people realized we cannot rely on product produced in one part and shipped to other world and I mean China and Far east, it is clear Manufacturers have to come to consumers," he said. While countries like India have been successful in getting global manufacturers like Apple to invest, significant reforms are needed to encourage a shift towards becoming an export-oriented nation. Sulayem said there is an urgent need to reform the Customs clearance framework if a country wants to become an export hub. «If you want to become an export country, then the laws have to be changed.

Mint the company is targeting a billion-dollar business over the long term from India. “We are very excited about the India opportunity and the growth in the market," Prince said. As of now, USPA is close to a ₹2,000 crore brand in India, said Kulin Lalbhai, vice chairman and non-executive director, Arvind Fashions.

Nirmala Sitharaman said on Friday. Persistent high inflation will crimp demand, Sitharaman said and added that the tendency to use interest rates as the only solution to tackle inflation has its own downside. “Most economies do have this problem—an obsession of using interest rate as the only tool to deal with inflation," the minister said at the B20 summit, a gathering of top business executives from G20 countries.

India and China on Friday offered divergent views to characterise the conversation between Prime Minister Narendra Modi and President Xi Jinping in Johannesburg two days ago even as Beijing sought to downplay the eastern Ladakh border standoff saying the boundary question does not represent the «entirety» of the bilateral relations. In a readout on the conversation between the two leaders, the Chinese foreign ministry said President Xi Jinping conveyed to PM Modi that both sides should «bear in mind» the «overall interests» of the ties and «properly» handle the border issue. Hours after Beijing's statement on Modi-Xi conversation claimed it was held at the Indian side's request, Indian sources said there was a «pending request» from the Chinese side for a bilateral meeting, suggesting that New Delhi has not heeded to it. «The two leaders, however, had an informal conversation in the leaders' lounge during the BRICS summit,» one of the sources said. Modi and Xi held the conversation on Wednesday on the sidelines of the BRICS (Brazil, Russia, India, China, South Africa) summit in Johannesburg, amid continuing strain in bilateral ties in view of the lingering border standoff in eastern Ladakh. The conversation was not a structured bilateral meeting.