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Check the latest updates hereBRICS countries have economies vastly different in scale and governments with often divergent foreign policy goals, a complicating factor for a bloc whose consensus decision-making model gives each member a de facto veto.Bloc heavyweight China has long called for an expansion of BRICS as a means of fostering a multipolar world order to challenge Western dominance."The world ... has entered a new period of turbulence and transformation," China's President Xi Jinping said on Wednesday.

Shares of companies that supply equipment and components to the space sector rallied up to 15% on Wednesday ahead of Chandrayaan-3 spacecraft’s landing on the moon. These companies added almost Rs 13,000 crore in market value on Wednesday. After trading hours on Wednesday in Mumbai, India made history becoming the first country to land on the South Pole of the lunar surface. Shares of Centum Electronics, which provides systems to the Indian Space Research Organisation (ISRO), rallied 14% on Wednesday. Godrej Industries surged 7% as its arm Godrej Aerospace supplies components to ISRO.

Chandrayaan-3, near the south pole of the moon. The success of India’s third lunar mission makes it only the fourth country to achieve the milestone after the US, Russia and China. As lander Vikram, touched down at the proposed landing site 70 metres near the south pole at 6.04 pm, it marked the culmination of the work of decades by the Indian Space Research Organisation (ISRO), evoking awe and winning plaudits from an array of global and local admirers. “India is on the Moon,” said chairman S Somanath to the sound of resounding cheers that erupted at the Mission Operations Complex (MOX) at Isro’s Telemetry Tracking and Command Network (ISTRAC) in Bengaluru. Terming the moment as “unforgettable,” Prime Minister Narendra Modi, who viewed the landing live from Johannesburg, said, “When we see such a history being made before our eyes, life becomes blessed. Such historical events become the eternal consciousness of a nation’s life.” Noting that India will soon launch the Aditya L1 mission, the prime minister said, “Even the Sun is not far away.” Speaking to the reporters after the monumental achievement, the ISRO chief attributed the success of Chandrayaan-3 to project director P Veeramuthuvel and mission directors M Srikanth and Kalpana K, and M Sankaran, director of the UR Rao Satellite Centre in Bengaluru. As soon as the landing was confirmed, MOX erupted in cheers, handshakes, and smiles.

Shares of TVS Supply Chain Solutions were listed at ₹206.30 on Wednesday, a premium of 4.7% to its offer price of ₹197. The stock ended at ₹ 200.95, 2% higher than the offer price. The ₹880-crore initial public offering of TVS Supply Chain Solutions was subscribed 2.78 times earlier this month.

offshore assets. Till now many bought time and tried to dodge the tax office by denying ownership or links with any overseas assets with false submissions, often made in letterheads of their chartered accountants and lawyers. Later, if tax officials called their bluff, such plain submissions gave them the leeway to escape harsh consequences. That ploy would no longer work.

What might persuade affluent 20- and 30-somethings to give to charity

Foot Locker is cutting its full-year outlook again and pausing its quarterly dividend as sales dropped in its fiscal second quarter with consumers continuing to be more cautious about their purchases

U.S. government officials on Wednesday started cracking down on co-founders of the virtual currency mixer Tornado Cash, just days after a federal judge decided that the government had the authority to sanction them

Germany plans to ease rules for obtaining its citizenship under legislation approved by the Cabinet

Lebanon's political elites are pushing a recovery plan for the country's financial collapse that would allow them to sidestep tough reforms demanded by the International Monetary Fund

The leaders of Brazil, Russia, India, China and South Africa have held closed-door discussions on the possible expansion of their BRICS economic bloc

U.S. regulators have announced a settlement with the company that runs Dollar Tree and Family Dollar aimed at improving worker safety at thousands of the bargain stores across the country

China's economic challenges have given rise to deflationary pressures that present a global concern and are likely to accelerate in the coming quarters, according to economists.

Joe Biden Wednesday said he was not surprised by reports that Russian Wagner chief Yevgeny Prigozhin may have died in a plane crash. Biden said not much happens in the country that President Vladimir Putin is not behind, Reuters reported.

Canaccord Genuity Group Inc. shuffled its Canadian capital markets division, installing a new slate of leaders following a round of job cuts.

China so that it can undergo negotiations with Beijing to «amend and strengthen» the landmark deal, the State Department said on Wednesday. For over 40 years, the agreement between the two countries has yielded cooperation across a range of scientific and technical fields, a powerful sign that the rivals could set aside their disputes and work together. The deal, signed when Beijing and Washington established diplomatic ties in 1979 and renewed about every five years since, has resulted in cooperation in areas from atmospheric and agricultural science to basic research in physics and chemistry. But concerns about China's growing military prowess and theft of U.S. scientific and commercial achievements have prompted questions about whether the Science and Technology Agreement (STA), set to expire on Aug. 27, should continue. «This short-term six-month extension will keep the agreement in force while we seek authority to undertake negotiations to amend and strengthen the terms of the STA. It does not commit the United States to a longer-term extension,» a State Department spokesperson told Reuters.

Thailand's billionaire former leader Thaksin Shinawatra was taken to hospital on his first night in prison after his historic return from self-exile, officials said on Wednesday, citing concern about his heart and blood pressure. The influential founder of Thailand's populist Pheu Thai Party was transferred to a police hospital overnight, 15 hours after a vaunted homecoming from 15 years abroad to avoid jail, that coincided with his political ally being elected prime minister in a parliamentary vote. The Corrections Department said Thaksin, 74, was transferred in the early hours of Wednesday after being unable to sleep and experiencing chest tightness and high blood pressure. «Physicians agreed that to prevent dangerous risks to his life, he be transferred to the police hospital,» it said. Soponrat Singhajaru, a senior doctor, said Thaksin's condition had improved since he was admitted. A representative for Thaksin declined to comment.

House of Masaba is looking at tier-2 and 3 markets as the growth drivers for the beauty label LoveChild, as it scales up amid a surge in the number of brands competing for a share of the country's beauty industry. LoveChild is the beauty label founded by entrepreneur-designer Masaba Gupta and owned by Aditya Birla Group under the House of Masaba Lifestyle franchise. «If we ignore tier-2 and 3 markets, we'll be making a big mistake,» Gupta said on Wednesday, while announcing scale-up plans for the House of Masaba brand, in which Aditya Birla group has 51% stake.

India and the Association of Southeast Asian Nations (Asean) are likely to revaluate duty cuts, non-tariff measures, safeguard and anti-dumping duties as part of the review of their existing free trade agreement. While the scope of the review of the Asean-India Trade in Goods Agreement (AITIGA) would be decided at the leaders' meeting next month, sources said that the two sides have agreed on exclusion lists, origin rules and technical barriers to trade to be part of the review. New Delhi also sought an evaluation of the services agreement but the grouping is not on board for the same, people familiar with the matter said. The Asean-India Trade in Services Agreement was signed in November 2014 and contains provisions on transparency, domestic regulations, recognition, market access, national treatment and dispute settlement. «India has been asking for a review for more than five years. Asean has agreed for some provisions and there are concerns on others,» said an official. India has asked for a review of the agreement to eliminate barriers and misuse of the trade pact.

India is hopeful of a «good outcome document» and consensus among G-20 members on the five key areas of trade and investment at the two-day trade ministers' meet beginning Thursday. Commerce and industry minister Piyush Goyal said that the members are looking at reaching a consensus on a «Jaipur call for action». India has identified five priority issues-growth and prosperity, resilient global value chains, MSMEs, logistics, and World Trade Organization (WTO) reform-under its G-20 presidency from December 1, 2022 to November 30, 2023. «We have been able to come up with significant consensus amongst the member countries invoking a Jaipur call for action,» he said, adding that it will help promote industry, MSME sector, upgrade the global trade help desk, and bridge information gaps for MSMEs to help them expand their business and trade. Goyal was addressing the media at the G-20 trade and investment ministers' meeting in Jaipur on Wednesday. He said the members have deliberated on formulating high-level principles for digitalisation of trade and trade facilitation. «We are confident that tomorrow and day after ministerial meetings will come up with a concrete actionable outcome agenda, which will help the world withstand any future shocks,» he said. On WTO reforms, he said India wants the dispute settlement mechanism of the multilateral trade watchdog to work smoothly.Russia-Ukraine conflict shadow On the Ukraine-Russia conflict casting a shadow on the G-20 trade and investment track outcome, he said that there are realities on which consensus is not possible.

South Korea and China saying the consequent lowering of prices is hurting local producers. Imports of steel products from China surged during the first quarter of this financial year, even as South Korea remained the highest steel exporter to India despite a year-on-year decline in shipments. «A sharp rise in imports of finished steel was recorded in the first quarter of the current financial year. The surge in imports, driven by countries with free trade agreements, as well as China, is eating into domestic demand,» Ranjan Dhar, chief marketing officer, ArcelorMittal Nippon Steel, told ET. Imports of steel products in April-June stood at 2.23 million tonnes, 31% more than 1.70 mt a year ago.