Country Financial News

By Lewis Jackson and Praveen Menon

BEIJING — U.S. chipmaker Nvidia this week soundly beat analysts' expectations for major revenue lines — except in automotive — as Chinese demand for electric cars moderates.

Narendra Modi on Thursday, who was on a three-day visit to South Africa to attend the 15th BRICS summit, presented special gifts to the organization's leaders including South African president Cyril Ramaphosa, First Lady of South Africa Tshepo Motsepe, and Brazilian president Luiz Inácio Lula da Silva. PM Modi gifted Bidri a pair of 'Surahi' from Telangana to South African President Cyril Ramaphosa. Bidrivase is a purely Indian innovation of 500-year-old Persian, exclusive to Bidar.

Chandrayaan-3 updates: Indian Space Research Organisation (ISRO) has deleted its latest post on X wherein it released pictures of Chandrayaan-3 lander taken by Chandrayaan-2's Orbiter minutes after posting it. ISRO's post which is now deleted read, “I spy you. Chandrayaan-2 Orbiter photoshoots Chandrayaan 3 lander.

Narendra Modi and President Xi Jinping of China met on the sidelines of the BRICS Summit in Johannesburg, South Africa. The two leaders held “candid and in-depth" exchange of views on current China-India relations and other questions of shared interest. Mint explains the significance of the meeting.

Yevgeny Prigozhin was on the list of passengers on the plane that crashed on a flight from Moscow to St. Petersburg. A plane carrying three crew members and seven passengers that was en route from Moscow to St.

Battlegrounds Mobile India) quickly rose to prominence in India after the ban on PUBG Mobile. Despite facing its own ban, the Indian government decided to allow BGMI back into the country with certain modifications around 10 months ago. Similar to other popular battle royale titles like Garena Free Fire, BGMI developers regularly release redeem codes that grant players access to a wide range of enticing rewards and freebies.

New Delhi: Indian steel companies Tata Steel and Jindal Stainless played key roles in the success of the Chandrayaan-3 lunar mission, which landed on the Moon's south pole on Wednesday. Tata Steel said its crane technology helped in assembling the Fat-LVM3-M4 rocket.

Chandrayaan-3 made a soft landing on the moon's so... moreChandrayaan-3 made a soft landing on the moon's south pole on August 23.

earning the team praise from around the country. However, the makers of Gadar-2 have now been questioned by the music composer of the original film Uttam Singh over not giving him due credit for the original songs.

Canada (IRCC) is planning to implement a new Trusted Institution framework to its student visa programme by 2024.This framework is a key component of a larger strategy aimed at modernizing the International Student Program (ISP) operated by the IRCC. Although specific details remain limited at this stage, according to reports, the central concept revolves around evaluating post-secondary institutions based on specific criteria that demonstrate their reliability as partners in areas including sustainable intake, identification of genuine students, compliance monitoring and reporting, and ensuring a safe and enriching experience for international students. Institutions meeting certain criteria will be designated as Trusted Institutions. While the full implications of this designation are not yet fully clarified, the IRCC has indicated that Trusted Institutions may benefit from streamlined and expedited processing for their applicants. Currently, any Canadian institution admitting international students must be classified as a Designated Learning Institution (DLI), approved by their respective provincial or territorial government.

UK in the year to June as employers scrambled to recruit from overseas amid ongoing labor shortages, according to official figures. The Home Office data showed how reliant the UK remains on foreign workers 2 1/2 years after the post-Brexit immigration regime came into force. The number of work visas issued was 45% more than a year earlier. Over a third of the total, 121,290, were “health and care” visas – a 157% increase in the previous year – as the UK struggled to meet the staffing needs of the National Health Service and care providers. Indian and Nigerian nationals accounted for the largest share. With employers unable to fill over a million jobs, the government has responded by expanding the shortage occupation list, its visa rule exemption system, to make it easier to bring workers into the country. However, soaring migration numbers have become a political headache for Prime Minister Rishi Sunak given the promises the Conservative government made to control Britain’s borders after the 2016 referendum that put Britain on a path out of the European Union.

Siddhartha Khemka, Head of Retail Research, MOFSL, says among food aggregators, we definitely like Zomato. We have a target price of Rs 110. We believe the excellent Q1 numbers where the company has turned profitable at PAT level, which is much ahead of its Q4, FY24 guidance. We believe that the company could see strong growth where the management is confident of achieving 40% plus organic growth. Even Blinkit is seeing improvement.”How realistic are the gains in some of the companies which have got business or presence in this entire space/rocket vertical? Stocks have gone up 50 to 100% even though the upside could be minuscule. Is it time to log out of BHEL or Paras Defence or Centrum Electronics? Just about every company in that space has got re-rated because of the Chandrayaan mission.The defence space has been in momentum not only because of the Chandrayaan effect but in the past several months also we have seen the large order book that has flown to some of these Indian companies.

Chakri Lokapriya, CIO & MD, TCG AMC, says “metals as a basket has underperformed. Valuations are attractive but the business momentum is just not there because of global uncertainty. Jindal Steel and Power valuation is still probably about five times EV/EBITDA. While we would stay away from the sector, may go for a couple of companies like Jindal Steel and Power and maybe Hindalco.”As we are now gearing up for the festive season, it definitely is going to be very critical for a lot of these consumer durable companies across the board. What is it that you are anticipating from this festive season and the kind of cheer it could bring for FMCG companies?FMCG companies, probably in terms of consumer staple, not much other than the traditional bounce.

The report by the International Monetary Fund (IMF) looked at both explicit and implicit subsidies for fossil fuels across 170 countries. It found explicit subsidies alone have more than doubled since the previous IMF assessment, rising from $500 billion in 2020 to $1.3 trillion in 2022 as governments rushed to mitigate the inflationary impact of Russia’s invasion of Ukraine and the spike in demand caused by the economic recovery from Covid-19.

Narendra Modi is coming on August 26. We will be receiving him in big numbers with more than 6,000 people at HAL airport. There, he might address the people of Bengaluru.

Chandrayaan-3 and the failure of Russia's Luna-25. India's ISRO recently launched the Chandrayaan-3 spacecraft, which made a soft landing near the moon's south pole, making India the first country to do so. According to a Bloomberg report, the Japan Aerospace Exploration Agency's (JAXA) H2-A rocket is the agency's most reliable rocket, with only one failure in 42 launches since 2001.

Weather update: The India Meteorological Department (IMD) has predicted heavy to very heavy over heavy rains in several states till 26 August. As per IMD, heavy to very heavy rain has been predicted in Odisha, West Bengal and Sikkim, Bihar, Assam & Meghalaya, Arunachal Pradesh In Himachal, IMD has issued a yellow alert in the state for today.

maritime transport, defence, trade and investments and people-to-people ties." Meanwhile, Greek Ambassador to India Dimitrios Ioannou has said that during Prime Minister Narendra Modi’s Greece visit, the two countries will upgrade their long friendship. "We are very happy to welcome him.

Also read: New COVID-19 variant BA.2.86 more infectious, capable of causing infection in vaccinated individuals: US CDC A group of international scientists suggests that while monitoring BA.2.86 is essential, it's unlikely to trigger a devastating wave of severe disease and fatalities, considering the global immunity built up through vaccinations and previous infections. Maria Van Kerkhove, WHO's COVID-19 technical lead, stated that the number of cases is still relatively low. The fact that known cases aren't linked suggests that it is already circulating more widely, especially given reduced global surveillance.

World stocks receded on Thursday as investors took a breather after bets that tech darling Nvidia will deliver blockbuster results paid off, while Treasury bond yields edged back higher following a big sell-off. Profit-taking weighed on shares across the board, with the MSCI All Country stock index dropping 0.91%. In the United States, the Dow Jones lost 1.08%, the S&P 500 fell 1.35% and the Nasdaq Composite slid 1.9%.