Country Financial News

02.08 / 05:07

Provident Manufacturing Entertainment Tesla BMW country India might welcome Tesla's Chinese vendors: Report

reliance on imports from China for critical components like battery cells used in electric vehicles. Previously, Mint reported that A delegation of high-ranking Tesla executives, including key members from the public policy, supply chain, and business development teams, is currently in India to actively interact with various government stakeholders and gain valuable insights into the local market.

02.08 / 05:07

UPS Extreme Fitch Covenant show country Fitch Ratings downgrade: Could a cut in US rating mean higher inflows to India, other EMs?

Fitch cuts US credit rating to AA+ from AAA after debt limit standoffs; White House “strongly disagrees" In simple terms, credit rating shows the creditworthiness of an individual, company, or government. Different rating agencies follow different practices for assigning ratings. As per experts, for Fitch Ratings, 'AAA' rating is the best and 'AA+' is high-quality.

02.08 / 04:43

MET Xiaomi show country Indian Chinese carmaker BYD faces Indian tax investigation: Sources

BYD faces an ongoing Indian investigation over allegations that it paid too little tax on imported parts for cars it assembles and sells in the country, two sources with direct knowledge of the matter said. India's Directorate of Revenue Intelligence (DRI) has alleged that China's largest electric vehicle (EV) maker, whose expansion plans have been hit by fractious relations between New Delhi and Beijing, underpaid tax of 730 million rupees ($9 million), one of the sources said. Although BYD has deposited this sum after the DRI's preliminary findings, the source added, the investigation is ongoing and could lead to additional tax charges and penalties.

02.08 / 04:43

UPS Southern country Premium India should exclude premium rice variety from export ban -trade body

non-basmati rice variety favoured by overseas Indians, which are struggling to secure staple after New Delhi banned the exports, a leading trade body requested the government. The world's biggest exporter of rice surprised buyers last month by imposing a ban on exports of non-basmati white rice after retail rice prices climbed 3% in a month after late but heavy monsoon rains caused significant damage to crops.

02.08 / 03:47

Action Remark DAL country PM Modi plans to flee the country after losing Lok Sabha polls like Marcos: RJD leader Lalu Prasad

Opposition's demand for Prime Minister Narendra Modi's presence in Parliament for a discussion on the Manipur issue, Rashtriya Janata Dal leader Lalu Yadav made a statement on Tuesday suggesting that PM Modi's absence might be due to a sense of guilt. «PM is seemingly avoiding it due to guilt,» remarked RJD chief Lalu Yadav. Regarding the rumored statement that PM Modi might leave the country after the 2024 Lok Sabha election, Lalu Yadav responded, «He seems to have plans to seek refuge elsewhere.

02.08 / 02:57

Lowe's MET Manufacturing Fitch show country Dollar shaky after US credit rating downgrade

dollar struggled to make headway on Wednesday after a cut on the U.S. government's top credit rating by Fitch raised questions about the country's fiscal outlook, though it drew some support from a relatively resilient run of economic data. Rating agency Fitch on Tuesday downgraded the United States to AA+ from AAA in a move that drew an angry response from the White House and surprised investors, coming despite the resolution two months ago of the debt ceiling crisis.

02.08 / 02:57

UPS Fitch show country Gold gains as US dollar, yields stumble on Fitch downgrade

Gold prices edged higher on Wednesday as the U.S. dollar and Treasury yields were bogged down after Fitch downgraded the country's credit rating, souring confidence in the economy ahead of key data due this week. FUNDAMENTALS * Spot gold was up 0.2% at $1,948.43 per ounce by 0122 GMT, while U.S.

02.08 / 02:39

Provident Reuters show country Oil prices Drop Oil prices rise more than 1% after sharp drop in US crude stocks

Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the U.S., the world's biggest fuel consumer.Brent crude futures for October rose 92 cents, or 1.1%, to $85.83 a barrel by 0001 GMT, while U.S. West Texas Intermediate crude climbed 84 cents, or 1.03%, to $82.21 a barrel. Both benchmarks settled lower on Tuesday, breaking a three day streak of gains.

02.08 / 02:39

COST UPS Remark show country boost Consumption China turns to rural tourism and smart appliances to boost consumption

BEIJING — Instead of handing out cash, China is trying to make sure consumers and businesses spend where it matters economically.

02.08 / 01:59

Citi Yellow country Traffic Updates Mumbai Monsoon update: IMD issues Yellow alert in Mumbai, Thane for today. See local train status to traffic updates here

Mumbai city registered its wettest July ever on July 26 with the month so far witnessing a record 1557.8 mm of rainfall. Earlier, the record was set in July in 2020 when 1,502 mm of rainfall was logged by the IMD's Santacruz observatory (representative of Mumbai's suburbs), according to a report published by the news agency PTI.

02.08 / 01:31

UPS Provident Racing Pool ANZ country Lost NOT All is not lost: ANZ says Australia can still win hydrogen race

Australia’s ambitions to develop a green hydrogen industry have suffered only a temporary setback from the US Inflation Reduction Act, and enjoy positive prospects at the hands of state and federal policies, funding support, and demand from key Asian trading partners.

02.08 / 01:23

Provident Aware Manufacturing Apple Tesla country Tesla's Chinese vendors may get to Make in India

India could consider allowing Tesla's foreign vendors, notably those based in China, to manufacture critical components in the country but the government is not in favour of any company-specific exemptions, sources aware of the matter said. This assumes significance as some key components of electric vehicles such as battery cells are imported from China. Tesla has expressed interest in bringing its own supply chain ecosystem to India.

02.08 / 01:23

Fitch AUD country US Treasury yields edge lower after Fitch downgrade

Fitch lowered the country's top credit rating. The 10-year Treasury note declined about 3.2 basis points (bps) to 4.015% as of 0017 GMT, retracing part of its 9 bps rise from Tuesday.

02.08 / 01:07

Cooper country Support Bahamas to join Kenya in security force in Haiti as support grows

United Nations Security Council," the ministry said in a statement. The Bahamas' statement echoed comments from Kenyan Foreign Minister Alfred Mutua, who described the security intervention as an opportunity to stand "with persons of African descent across the world." It added the Bahamas looks "forward to cooperating with hemispheric partners including the United States and Canada." US Secretary of State Antony Blinken on Tuesday commended Kenya for "considering to serve as the lead nation" for the multinational force and expressed support for its authorization from a UN Security Council Resolution.

02.08 / 00:49

UPS Manufacturing Micron country electronic GlobalFoundries eyes tieups for fab unit in India

GlobalFoundries is scouting for local partners to set up a chip fabrication unit, sources told ET, as India seeks to deploy a comprehensive semiconductor manufacturing policy aimed at establishing its leadership credentials in the future. GlobalFoundries (GF) was earlier in talks with a few companies from the country. Those plans, however, did not materialize owing to the latter’s lack of credible expertise and experience in manufacturing electronics products, a source said.

02.08 / 00:49

Target CEO Platform country exclusive Slack India’s key go-to-market, product gub: Slack CEO Lidiane Jones

Slack sees India as a key go-to-market and production region, said CEO Lidiane Jones. Cloud services giant Salesforce acquired Slack for around $28 billion in 2021. Speaking exclusively with ET, Jones said that India represents a key product development hub for the company.

01.08 / 23:04

COST UPS MET country cover Grant Saudi Arabia to grant Yemen $1.2 billion in economic aid

Saudi Arabia said it would grant $1.2 billion of financial aid to Yemen’s internationally recognized government in a bid to buoy the country's struggling economy

01.08 / 23:04

UPS Lowe's track country Israeli high-tech investment plummets in first half of 2023, industry monitor says

An Israeli tech industry monitor says investment in Israeli start-ups has plummeted in the first half of 2023

01.08 / 23:04

COST UPS show country Inside German beer sales resume their downward trend after a post-COVID pickup

Official figures show that German beer sales resumed a long-term downward trend in the first six months of this year after rallying in 2022 thanks to the end of most COVID-19 restrictions

01.08 / 23:03

UPS Waves Target Citizens country coup Support Niger crisis deepens as European nations evacuate and coup leaders get support from other juntas

A French military transport plane carrying Europeans has departed Niger in the first such evacuation flight since mutinous soldiers ousted the country’s democratically elected president nearly a week ago and shut its borders

01.08 / 23:03

FIVE Digital Maxim CEO Celebrity country cover National Maine's biggest newspaper group is now a nonprofit under the National Trust for Local News

The largest newspaper group in Maine is becoming a nonprofit with the completion of the sale of more than 20 daily and weekly newspapers, including the Portland Press Herald

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