Country Financial News

Union Ministry of Education on Monday ruled out any proposal to revive the quota for Members of Parliament for admission in Kendriya Vidyalayas (KVs) across the country. Union Minister of State for Education Annapurna Devi said this in response to a written question in the Rajya Sabha.

Manipur has demanded the withdrawal of a remark made by Solicitor General Tushar Mehta in the Supreme Court where he had reportedly said that most of the unclaimed bodies of the ethnic violence in Manipur belong to those of «infiltrators». In a statement, the UNAU Tribal Women's Forum, Delhi-NCR, said the mothers of the Kuki-Hmar-Zomi community of Manipur, represented by the group, are «deeply hurt and appalled» by the remarks made by the solicitor general in the Supreme Court on August 1.

New Delhi: American streaming platform Netflix has announced that its new India original called Guns & Gulaabs starring Rajkummar Rao, Dulquer Salmaan and Gulshan Deviah, will premiere on 18 August. Netflix has finally decided to introduce curbs on password sharing in India, a move aimed at building scale as well as ringing in revenue growth, said media experts. However, this could result in significant decline in subscriber numbers, they added.

semiconductors. These so-called strategic, emerging industries now account for over 56% of Hefei’s industrial output, compared with less than 27% in 2013. Whatever local officials have been doing, it appears to be “the right mix of industrial policy and private-sector mojo," says Robin Xing, an economist at Morgan Stanley and a Hefei local.

Lok Sabha on Monday passed the Digital Personal Data Protection Bill, 2023 which lays down the obligations of entities handling and processing data as well as the rights of individuals. The bill proposes a maximum penalty of Rs 250 crore and minimum of Rs 50 crore on entities violating the norms. The norms will apply to personal data collected within India from data principals online, and personal data collected offline, but subsequently digitised. It will also apply to such processing outside India if it is for offering goods or services to individuals in India. Union Communications, Electronics and Information Technology Minister Ashwini Vaishnaw had tabled the bill in the lower house on August 3. Opposition had demanded that it should be sent to the standing committee for scrutiny. While moving the bill, Vaishnaw had rejected suggestions that it was a money bill saying it was a «normal bill». The bill provides for the processing of digital personal data in a manner “that recognises both the right of individuals to protect their personal data and the need to process such personal data for lawful purposes”.

Aramco said Monday that it made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous year that it attributed to lower oil prices. Total sales stood at just over 400 billion riyals (about $106 billion), down from 562 billion riyals ($150 billion in the second quarter of 2022. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease «mainly reflected the impact of lower crude oil prices and weakening refining and chemicals margins». The company reported net income of 112.8 billion Saudi riyals ($30 billion) compared to 181.6 billion riyals ($48 billion) in the second quarter of 2022, a decline of 37.8% Aramco nevertheless raised its dividend paid out to investors to 110.18 billion riyals ($29.38 billion), compared to $18.8 billion in the second quarter of 2022. The performance-based dividend is partly based on the company's record earnings last year, it said. «Our strong results reflect our resilience and ability to adapt through market cycles,» Aramco CEO Amin Nasser said in a statement accompanying the report.

Congress leader Rahul Gandhi on Monday attacked the Centre over rising inflation and alleged that the government is not even listening to the poor, as he shared a video of his recent visit to the Azadpur Mandi where he had met some vegetable and fruit vendors as well as traders. Gandhi shared the video of his interactions at the Azadpur Mandi on his social media handles. In a tweet along with the link to his video, Gandhi said he met labourers, traders and farmers in Azadpur Mandi to know why there is 'mandi (slowdow) in the Mandi'. «Jata Shankar is a labourer who has not been able to go home, meet his family, for more than a year because of this work. How will he go, if he misses work, money will be deducted and it will become more difficult to survive in this inflation,» the former Congress chief said in a tweet in Hindi. «A shopkeeper also told me that due to the losses, he has to sleep hungry two to three nights in a week. Far from solving the problems of the country's poor, the government is not even listening to them!» Gandhi said.

Suresh Soni, CEO, Baroda BNP Paribas MF, says “in the last three-four months, there have seen about Rs 125,000-150,000 crore of foreign flows, which is more than the entire outflow from FIIs last year. As the Indian growth story remains strong, we believe that foreigners who are relatively under-owned in India might invest more money. Domestic flows have remained strong.

Narendra Modi while addressing said India's vibrant handlooms exemplify country's diversity, and adds, “let us reaffirm our commitment to popularise local products." Meanwhile, in a veiled attack towards opposition, he said said certain people are trying to create roadblocks in making India a developed country, and citizens are now demanding ills, like corruption and appeasement to 'Quit India'. Here are the top quotes of PM Modi on National Handloom Day.

semiconductors, from this month. Trade tensions between China and the US don’t look like easing any time soon despite the Biden administration’s overtures to Beijing, including visits to China by top US officials such as Yellen. This has inescapable consequences for global trade.

The Yindjibarndi people are entitled to compensation for economic and cultural or spiritual loss from Fortescue Metals or the West Australian government over mining on their land in the state’s northwest, the Federal Court has been told.

tech stocks which have been under scrutiny for reporting weaker-than-expected growth and guidance cuts in the June quarter. A bulk of the investment (Rs 11,514 crore) went into financial services, which have been a favourite of all big boys of Dalal Street amid solid credit growth. However, the pace of inflow in financial stocks slowed down compared to June when FIIs invested over 19,000 crore in the sector.

Energy solution provider Apraava Energy has inked initial pacts with state-owned firms REC Ltd and Power Finance Corporation (PFC) to get finance of Rs 9,120 crore for funding its wind, transmission, and advanced metering projects in the country. The signing of MoUs took place as part of the Green Finance Summit organised by REC on the sidelines of the Green Business Summit Clean Energy Ministerial (CEM) and Energy Transition Working Group (ETWG) Ministerial held on July 21, 2023 in Goa against the backdrop of India's G20 Presidency, a company statement said.Apraava Energy signed the Memorandum of Understanding (MoUs) with REC Ltd and PFC for financial assistance worth Rs 9,120 crore (USD 1.1 billion), the company said. Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said in the statement, «This partnership further strengthens our roadmap to deliver sustainable and integrated growth in the future. We thank REC and PFC for placing their trust in our aspirations for a better world.» Over the last few years, Apraava has diversified into newer areas of the energy value chain such as transmission and advanced metering that will support the acceleration of the transition to a greener economy in India.

customs duty on certain items, banning import of used or old equipment, and introduction of performance linked incentive scheme for value-added production will help India's medical devices industry touch USD 50 billion by 2030, a report by think tank GTRI said. Suggesting six action points for the government and industry for accelerating growth of the sector, the Global Trade Research Initiative (GTRI) also asked the government to not allow input tax credit (ITC) for the IGST paid on import of items where basic customs duty is zero; combatting foreign influence; and encourage local sourcing for essential Make in India products.

Cyient DLM. Given that the two businesses are from two different sector, where SBFC Finance IPO is a non-banking finance company (NBFC), while Concord Biotech IPO is a research & development biopharma company, most analysts are bullish on both. In case you are an investor who is looking to apply for only one, here are some expert views: Speaking on SBFC Finance IPO vs Concord Biotech IPO, Vaibhav Kaushik, Research Analyst at GCL Broking said, “If you ask me to choose either of the two public issues, I would advice investors to go for SBFC Finance IPO as it is providing better valuation comfort to investors.

consign coal to history". As recently as 2020 the iea believed consumption had peaked a decade ago. Yet King Coal looks brawnier than ever.

₹4.55/unit, lower 16% YoY, due to improved sell side liquidity on the exchange platform," the company said in a press release. Supplies continued to ease during the month due to robust coal production, reduction in prices of e-auctioned coal and imported fuel. In the coming months, higher liquidity is expected to result in more competitive prices on the exchanges, giving further optimisation opportunities to discoms and open access consumers, it added.

The US dollar has long been the world's reserve cu... moreThe US dollar has long been the world's reserve currency, but its dominance is under threat.

Panchayati Raj system in villages. «No concrete efforts were made to strengthen the Panchayati Raj institutions during the Congress rule,» he said after inaugurating the 'Haryana Kshetriya Panchayati Raj Parishad', a two-day BJP event, via video conference.

Saudi Arabia announced that citizens of eight more countries will now be eligible for a visitor e-visa, state media reported. The e-visa will be available to visitors from Albania, Azerbaijan, Georgia, Kyrgyzstan, Maldives, South Africa, Tajikistan, and Uzbekistan, for leisure, business, and religious (Umrah only) travel, bringing the total number of eligible countries to 57, Xinhua news agency quoted the state media report as saying. The visitor e-visa is valid for an entire year, grants multiple entries, and permits a stay of up to 90 days. After launching the e-visa program in 2019, Saudi Arabia welcomed 93.5 million visits in 2022, a 93-per cent increase from 2021, registering a tourism expenditure of 185 billion Saudi Riyals ($49 billion). In 2022, Saudi Arabia decided to provide a visitor e-visa for holders of valid Schengen, British and US visas that have been used to enter these countries before arriving in Saudi Arabia and for permanent residents of the European Union, Gulf Arab countries, Britain and the US.

The cases relate to demands raised under the Goods and Services Tax (GST) Act. As per estimates by officials, the aggregate demand in the past three months amounts to a few hundred crores. The office of the directorate general of goods and services tax intelligence (DGGI) as well as state audit officials are currently probing such cases across sectors.