Country Financial News

doing business, no matter what the rankings say. We cannot sit back and say that we will sidestep these problems by growing only along the services route. Global exports in labour-intensive products like garments and textiles, toys, footwear make up ~1,040 Billion dollars.

New Delhi: Domestic coal production rose 9.2% year-on-year up to July 2023, Union minister of coal and mines Pralhad Joshi said on Wednesday.In a written response to Lok Sabha, the minister outlined the government’s efforts to escalate indigenous coal production while curtailing non-essential imports. “As per the existing import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choice as per their contractual agreement on payment of applicable duty. Most of the requirement of coal in the country is met through indigenous production.

ALBUQUERQUE (Reuters) — President Joe Biden will take his economic pitch to New Mexico on Wednesday with remarks at the groundbreaking of an Arcosa (NYSE:ACA) wind tower manufacturing facility at which the White House said he will highlight a U.S. clean energy and manufacturing boom.

maritime boundaries between the two countries are somewhat blurry, fishermen have been caught in the net of authorities from both India and Pakistan. – This sets in motion a flurry of diplomatic activity where both governments push for the early release and repatriation of those languishing in jails.

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Union Minister Smriti Irani dubbed Congress leader Rahul Gandhi a ‘misogynist man’ on Wednesday and informed the Wayanad MP that he - and the Congress as a whole - ‘defined incompetence’. The remarks were part of a lengthy war of words that came in response to the newly reinstated lawmaker's comments on Manipur. Gandhi meanwhile dubbed the BJP-led ruling coalition as ‘traitors’ who had ‘murdered India in Manipur’.

Rahul Gandhi "misogynist man" for blowing flying kiss to Parliament that seats female members; says action lacks dignity. Union Minister and BJP MP Smriti Irani said, “I object to something. The one who was given the chance to speak before me displayed indecency before leaving.

New Delhi: Uttar Pradesh sold the maximum number of automobiles during the June ended quarter (Q1 FY24), followed by Maharashtra and Karnataka, according to data from the Society of Indian Automobile Manufacturers (Siam). In the passenger vehicle (PV) category, Maharashtra was the leader, selling 12% of total number of PVs sold in the country.

RBI) may maintain a status quo on policy rates and monetary stance on Thursday but the six-member committee has at least six major factors to consider before they reveal the country's short-term monetary policy. Experts believe the RBI will maintain a status quo on rates and stance on August 10.

Maruti Suzuki India announced a significant achievement on Wednesday as its pre-owned car segment surpassed the remarkable milestone of 50 lakh units sold since its inception. The company first introduced its pre-owned car brand, Maruti Suzuki True Value, back in 2001. Marking 22 successful years in the industry, Maruti Suzuki True Value has solidified its position as India's most trusted pre-owned car brand, garnering the loyalty of 50 lakh delighted customers, according to a statement by Shashank Srivastava, Senior Executive Officer of Marketing & Sales at Maruti Suzuki India Ltd (MSIL).

Amazon has announced there was a 21% increase in 2022 in the use of multilingual mode on Alexa-powered devices in the country. As revealed by the company, almost one out of every two users of Echo smart speakers prefer multilingual mode of Indian-English/Hindi to interact with Alexa.

₹34,418 crore as compared to a net profit of ₹15,307 crore recorded in the April-June quarter of FY23. The net interest margin of PSU banks during Q1FY24 grew at an average of more than 3%, lifted by the high interest rate regime. “PSU banks are witnessing late benefits of credit growth and improving asset quality.

By Amanda Cooper

ROME (Reuters) -Italian banking stocks rose in early trade, regaining some of the ground lost after the government late on Tuesday announced a cap on a windfall tax for the country's lenders.

domestic manufacturing is rightly placed. For nearly three decades from 1962 to 1988, car buyers in South Korea were forced to buy locally manufactured cars because the Korean government had imposed a ban on all imported automobiles till 1988 and the import of Japanese automobiles till 1998. Economist Ha-Joon Chang, in his book, Edible Economics, has talked about how until the early 1990, the Korean government made sure that Hyundai and other firms got access to high subsidised credits.

Singapore Prime Minister Lee Hsien Loong has assured that his government would maintain its high standards of honesty, integrity and propriety which its citizens expect of it, as the city-state witnessed a spate of political scandals in recent months. «Some have asked what these incidents say about the Government. My answer is this: Such issues come up from time to time,» Prime Minister Lee said in his National Day message on Tuesday.

Mahindra & Mahindra Ltd (M&M Ltd) on Wednesday rolled out a new wheel harvester under the Swaraj brand in the domestic market as it looks to tap aggressively the farm mechanisation market in the country. With its latest offering, the brand is aiming for a 15-20 per cent market share in the wheel harvester segment in the long-term, Harish Chavan, Chief Executive Officer at Swaraj Division, said. Manufactured at the company's new farm machinery facility at Pithampur near Indore in Madhya Pradesh, the new 'Swaraj 8200 Wheel Harvester' will be available from the upcoming crop season for the customers through its dealerships pan-India, he said. «The mechanisation in the harvesting space (in the country) is still picking up. We want to give shape to it and that is the reason we want to participate now aggressively as we are participating in tractor segment,» Chavan told PTI. He said that with the tractor industry growth reaching an all-time high, the agri mechanisation sector is also growing very fast and farmers are increasingly adopting mechanisation practices. «We want to make sure that we at Mahindra Group and at Swaraj are able to leverage this opportunity and for this reason we are launching this new wheel harvester,» he said.

US bonds, booking profits in emerging markets (EMs) like India and repatriating some of their gains to the safety of the dollar. Their sharply reduced purchases of Indian equities so far this month correspond with a global equity selloff prompted by Fitch Ratings’ downgrade of the US sovereign rating which spurred rallies in Treasury yields and the dollar. Last week, Fitch Ratings cut the US’s sovereign credit grade one level to AA+ from AAA, two months after it warned the rating was under threat due to oft-repeated political standoffs on the debt ceiling.

Investing.com — European stock markets are expected to open higher Wednesday, as investors attempt to recoup recent losses while digesting more quarterly corporate earnings.

Investing.com — Most Asian stocks fell slightly on Wednesday as weak Chinese inflation data drummed up concerns over the region’s biggest economy, while a batch of weak earnings also weighed. 

Investing.com — Most Asian currencies rose slightly on Wednesday, recovering a measure of recent losses as worsening risk appetite favored the dollar, while the Chinese yuan rose in volatile trade after weak inflation data.