Country Financial News

NEW DELHI : The government is considering lowering the minimum capacity threshold for bids under a fresh round of the production-linked incentive (PLI) scheme for advanced chemistry cells (ACC) that are used for battery storage and are key to the electric vehicle ecosystem. The government is looking to allocate 20 GWh (gigawatt hour) capacity to new participants in the scheme, and held consultations last week with a diverse set of firms that included Panasonic, Minda Corp, Ather Energy, Maruti Suzuki India Ltd, Tata Motors’ Agratas, NTPC and M&M.

Data may or may not be ‘the new oil,’ but advanced microchips for digital devices are in geopolitical focus as the Indo-Pacific witnesses a contest of glares between China and the West over Taiwan, whose grip on the manufacture of these prized inputs has pushed both sides into a race for supply security. Globally, cutting-edge semiconductors are seen to underlie the current path of tech evolution. India’s effort to break into this field has faced setbacks like a proposed Foxconn-Vedanta venture coming apart, but Prime Minister Narendra Modi has signalled the government’s determination.

Democratic-led states are establishing sanctuaries for those seeking gender transitions, part of a broad legal effort to resist Republican restrictions on medical interventions for transgender youth. The playbook is one used by U.S. cities that have provided sanctuary from federal authorities to migrants lacking permanent legal status, a custom dating to medieval times when fugitives took refuge in churches.

Most economists remember Margaret Thatcher as a leader who ushered a new era of business-friendly economic policies in the 1980s. Statisticians remember her as the politician who wreaked havoc on a world-class statistical system. Soon after becoming the UK’s prime minister, Thatcher appointed a Marks & Spencer executive to review the country’s statistical system.

When U.S. ambassador to Sudan John Godfrey was huddled in Khartoum while dodging bullets and airstrikes, there was one question that he hadn’t expected: How much did the embassy staff’s cats and dogs weigh? Navy SEALs, who were dispatched to save diplomatic personnel from the clashes that had erupted between feuding Sudanese generals, had agreed to evacuate pets as part of their diplomatic rescue mission. The only stipulations were that the four-legged passengers fit in carry-on bags and that their weight was counted down to the pound.

KARNAL/AMBALA/NEW DELHI : You were so thirsty that you came here to get drowned. We warned you, but you did not listen," quipped the residents of Nabiabad. The pun was directed at Tejraj Singh, a farmer in his mid-50s, who relocated to Nabiabad in 2019.

Petronet LNG is yet to recover Rs 1,265 crore of ‘use or pay’ charges from its customers, and is trying to find some ‘amicable solution’, its managing director has said. “The company has booked income towards "use or pay charges" of Rs 848.92 crores and Rs 415.91 crores in the financial year 2022-23 (for calendar year 2022) and financial year 2021-22 (for calendar year 2021) respectively on account of lower capacity utilization by its customers. The balance confirmation/ payment against the same is yet to be received,” the auditors flagged in the earnings statement.Petronet LNG is pursuing the matter with customers and is hopeful of a solution, managing director A K Singh said, adding that customers will be able to pay the charges once their businesses stabilize.

BEIJING (Reuters) -China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard «national security and interests» amid escalating tension with the United States over access to technology.

BJP leader and former Gujarat minister Purnesh Modi on Monday sought the dismissal of Congress leader Rahul Gandhi's appeal in the Supreme Court against his conviction in a criminal defamation case, saying he has defamed all those bearing the Modi surname, particularly people belonging to the 'Modh Vanik' caste of Gujarat. Purnesh Modi had filed a criminal defamation case in 2019 against Gandhi over his «How come all thieves have Modi as the common surname?» remark made during an election rally in Kolar in Karnataka on April 13, 2019.

Uttar Pradesh through good governance because despite being rich in resources, UP had remained a poor and sick due to the misgovernance of the previous non-BJP governments, said Uttar Pradesh Chief Minister Yogi Adityanath on Monday. Addressing the beneficiary conference of PM Awas Yojana organised at Veer Bahadur Singh Sports College campus, the Chief Minister said that the world believes that UP is not a poor and sick state any longer, but a state where five and a half crore people have risen above the poverty line in six years.

Nanyang Technological University is looking at strengthening its research and academic collaborations with top Indian universities, Tim White, Vice President, International Engagement, told ET in an interaction. “The most important institutional collaborations NTU has are with IIT Madras and IISC Bangalore where through the generosity of an endowment from Kris Gopalakrishnan 50 Indian PhD scholars will be trained at NTU,” said White.

Sri Lanka on Monday said that its inflation has dropped to 6.3 per cent in July, a single-digit figure for the first time in two years, providing much-needed relief to the people amidst the worst financial crisis. In a statement, the Census and Statistics Office of the Sri Lankan government said that the overall rate of inflation as measured by the Colombo Consumer Price Index on a year-on-year basis is 6.3 per cent in July 2023 and it was down from 12 per cent recorded in June this year. «The overall rate of inflation as measured by the Colombo Consumer Price Index on a year-on-year basis is 6.3 per cent in July 2023.

Torrent Group has crossed Rs 1 lakh crore market capitalisation as it's power units EV push and pharma company's recent acquisitions fuelled a rally in stocks. The combined market capitalisation of its two listed group companies — Torrent Pharmaceuticals Ltd and Torrent Power Ltd crossed the Rs 1 lakh crore mark in trading on Monday, according to stock exchange information. Torrent Pharmaceuticals shares hit an intra-day high of Rs 2,014.8 before closing at Rs 2,010 on the NSE.

Troubled trucking company Yellow Corp. is shutting down and filing for bankruptcy, the Teamsters said Monday

Typhoon Doksuri swept the country bringing torrential rains and flash floods across the country. Last week Typhoon Doksuri made heavy landfall in the southeastern coastal province of Fujian where authorities evacuated millions of people. Similarly, more than thirty thousand residents were evacuated from the capital Beijing. However, there is little relief as Typhoon Khanun is approaching coastal areas of eastern China, according to reports.

China has launched a slew of new projects as part of its Belt and Road Initiative (BRI), which aim to open new avenues of collaboration with Southeast and South Asian nations through Nepal, where India has huge strategic interests. The projects—clubbed under a platform called the ‘Silk Roadster’—were launched earlier this month to commemorate the 10th anniversary of Chinese President Xi Jinping’s most important initiative, the BRI.

ISIS module case, while rejecting the National Investigation Agency's plea seeking further remand of the duo. Zubair Shaikh and Zulfikar Ali were among the four accused arrested earlier this month by the NIA in the ISIS module case.

Child Development: Child development encompasses the physical, cognitive, emotional, and social transformations that occur from birth through adolescence. This intricate and dynamic process is influenced by a combination of genetic, environmental, and cultural factors. Child Physical Development: This refers to changes in a child's body and their motor skills.

El Nino phenomenon is not likely to affect Indian Monsoon for the second half. El Nino is generally associated with the weakening of monsoon winds and dry weather in India, according to IMD. El Nino is the warming of the waters in the Pacific Ocean near South America.

India is expected to see below normal rainfall in August after witnessing excess showers in July, and normal precipitation in the second half of the June-September monsoon season, the India Meteorological Department said on Monday. Below normal rainfall raises concerns over yield of kharif crops, especially pulses. Lower yields and production may affect overall agriculture growth and rural demand recovery, and cause inflation.

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