Country Financial News

Investing.com — The China bear is lurking again, and that isn’t helping the oil bull — at least not today.

Gran Turismo movie is set to debut on Netflix in the US and other countries, following its theatrical release at the end of August. The film, based on the video game with the same title, revolves around the story of a GT Academy participant, who transitions from virtual to real-world racing.

Apple, HP, Lenovo, Asus and Xiaomi are looking to ship in as many laptops and tablets as possible to the country before import restrictions kick in on November 1, multiple industry executives and analysts said. These firms will increase imports by up to 50% more than what they had initially planned till October end to ensure there is enough pipeline stock for 4-6 months when the new licensing regime for imports of laptops, tablets, and personal computers begins, they said.

New Delhi: The union ministry of power has made changes to the technical requirements for bidding of high voltage direct current (HVDC) transmission systems through tariff based competitive bidding (TBCB) route. Through the amendment, government has raise the requisite period of experience in the infrastructure to 10 years from 5 years. The minimum individual project experience would be ₹100 crore.

₹4 trillion in the last fiscal year, registering a 28% rise. From 1 November, India will restrict the import of laptops and computers in a bid to boost domestic manufacturing. Meanwhile, Indian companies' spending on corporate social responsibility (CSR) remained flat in 2021-22.

Life Insurance Corp of India (LIC) recorded a 14-fold year-on-year jump in net profit at ₹9,543.7 crore for the first quarter of FY24, even though the country's largest insurer has been witnessing a shrink in its market share in terms of new business premium. The super-normal growth in net profit is primarily attributed to a base effect and a change in accounting entry, involving a transfer of funds from non-participating policies to shareholders account as a part of accretion on the available solvency margin, according to a regulatory filing. In the previous fiscal's June quarter, LIC's net profit was ₹682.9 crore.

RBI) has decided to maintain the status quo and keep the repo rate—the rate at which it lends to banks—at 6.5%. This was largely because the RBI believes high inflation isn’t going away anytime soon. Mint examines the details: Retail inflation, which averaged at 6.7% during 2022-23, declined in May to 4.3%—very close to the RBI’s target of 4%.

student loan payments and interest on such loans begin on September 1. This may impact millions of students across the country. According to the New York Federal Reserve, 44 million students have taken loans valued at $1.6 trillion at the end of March 2023.

Rovio, creator of the Angry Birds franchise, have overwhelmingly accepted Japanese Sega's offer to buy the company, allowing the deal to go through, the Finnish company said Thursday. Rovio said in a statement that 96.3 percent of its shareholders had accepted the offer, which values the company at more than 700 million euros ($770 million). The offer was contingent on more than 90 percent acceptance.

By Nandita Bose

Narendra Modi, in his reply to the no-confidence motion in the Lok Sabha on Thursday, said that Opposition bloc INDIA was «playing divisive politics» on violence-hit Manipur and alleged that the «dynastic rule» of Congress was responsible for creating problems in the northeast. As the Opposition walked out even before Modi mentioned Manipur in his address, the motion was defeated by a voice vote. Exuding confidence for 2024 Lok Sabha elections, the PM predicted that he would defeat another no-confidence motion in 2028.

income tax law as only 1% of recognised entrepreneurs have availed the benefit. The department-related Parliamentary Standing Committee on Commerce has expressed concern about the low utilisation of section 80-IAC of the Income Tax Act, 1961, which entitles eligible startups to avail the tax benefit. It was implemented in 2017.

NEW DELHI : The loss of Indian Premier League (IPL) streaming rights blew a hole in the subscriber base of Disney+ Hotstar in the June quarter, with 12.5 million users choosing not to renew their subscriptions. Walt Disney Co. said the subscriber base at its video streaming platform shrank 24% from 52.9 million to 40.4 million, the sharpest fall in any quarter yet.

MPs from Manipur were not allowed to speak. However, their hands and mouths were tapped and shut, and this is what the BJP is trying to do to cover up their failure in Manipur," Gogoi said. He criticised the motion of suspension against Adhir Ranjan Chowdhury by BJP and said it is democracy's murder.

Congress leader Jairam Ramesh on Thursday accused Prime Minister Narendra Modi of «deliberately twisting» and deflecting issues of the alleged «misuse» of LIC and public sector banks to help his «cronies».In a swipe at the opposition during his reply to a debate on the no-confidence motion, Prime Minister Narendra Modi earlier in the day said his rivals have a «secret boon» that whosoever they wish bad for, ends up doing well as it happened with PSUs such as Hindustan Aeronautics Limited and Life Insurance Corporation of India. Responding to the jibe, Ramesh said on X, formerly known as Twitter, «The Prime Minister deflected and deliberately twisted the issue of misuse of LIC and Public Sector Banks(PSBs) during the No Confidence Motion today,» «Three questions that Mr.

Steel Authority of India Limited (SAIL) has reported a 74% decline in consolidated net profit to Rs 212.48 crore in the first quarter of the financial year 2023-24. The company had reported Rs 804.5 crore as net profit in the comparable period of the previous fiscal.

Biocon on Thursday reported 30‰ year-on-year (YoY) drop in net profit to Rs 101 crore for the quarter ended June 2023. The company had reported net profit of Rs 144 crore during corresponding quarter of the previous year. The company attributed the drop in net profit to depreciation, amortisation and interest increase of Rs 353 crore over last year primarily related to the biosimilar business acquisition cost.

Reliance Industries Limited (RIL), reported Economic Times on 10 August. The following development took place days ahead of the listing of JFSL, added the report. It said that the shareholders of RIL have been rewarded with one share of the JFSL for every share of RIL they owned, as of the record date of 20 July.

Covid-19 pandemic induced lockdown. According to reports, the official consumer price index, a measure of inflation, fell by 0.3% last month from a year earlier. On Tuesday, official figures showed that China's exports fell by 14.5% in July compared with a year earlier, while imports dropped 12.4%.

Steel Authority of India Ltd (SAIL) on Thursday reported an 73.6% year-on-year fall in its consolidated net profit for the fiscal's first quarter ended June (Q1FY24) to ₹212.48 crore. The company had reported a profit of ₹804.50 crore in the year-ago period. Sequentially, consolidated net profit was down 81.7% from ₹1,159.21 crore in Q4FY23.

By Amruta Khandekar, Shristi Achar A and Shashwat Chauhan