Country Financial News

₹8,233 crore) class action lawsuit initiated by over 1,500 app developers in the UK regarding its App Store fees. Apple's services division, which encompasses the App Store, has experienced substantial revenue growth in recent years, reaching approximately $20 billion ( ₹1.63 lakh crore) per quarter. However, the fees charged by Apple, ranging from 15% to 30%, to certain app makers for using their in-app payment system, have drawn criticism from app developers and become a focal point for antitrust regulators in various nations.

MPs from opposition parties have given notices in Lok Sabha and Rajya Sabha, seeking a discussion on the Manipur issue, which has been a key reason for the continuous logjam in both Houses since the session commenced. In Lok Sabha, Congress MPs Manish Tewari, and Gaurav Gogoi have moved Adjournment Motion Notice demanding a discussion on the Manipur situation. Opposition Rajya Sabha MPs K Keshava Rao, KR Suresh Reddy, Joginipalli Santosh Kumar, Badugula Lingaiah Yadav, Ranjeet Ranjan, Manoj Jha, Syed Naseer Hussain, Tiruchi Siva, Imran Pratapgadhi have moved Suspension of Business Notice under Rule 267 to discuss the situation prevailing in Manipur. Significantly, a meeting of the members of the Indian National Developmental Inclusive Alliance (I.N.D.I.A) has been convened at the office of Congress national president and the Leader of the Opposition in Rajya Sabha, Mallikarjun Kharge to chalk out a floor management strategy before the Upper House goes into session. The meeting of the floor leaders will be held at 10 am.

Piramal Alternatives plans to raise $1.5 billion for investment in India’s high-yield companies via private credit, according to its chief executive officer. The unit of Piramal Group, which is controlled by billionaire Ajay Piramal, has four existing private credit funds that together have raised $4 billion, said Kalpesh Kikani, managing director and chief executive officer at Piramal Alternatives.

SHANGHAI/BEIJING (Reuters) -China's major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency.

HSBC Holdings Plc announced to about 100 wealthy Indians it is returning to private banking in India, where it exited about eight years ago. Over dinner served by the chef of Odette, a three-Michelin-star restaurant in Singapore, the bank’s wealthy clients who flew in from Hong Kong and Dubai, mingled with HSBC’s local customers. HSBC’s efforts to convince prospective Indian clients that its wealth management services in the country will not make a retreat again is a linchpin for its ambitious plans there.

Doval has met top Chinese diplomat Wang Yi and discussed bilateral ties with him. The meeting took place on the sidelines of the Friends of BRICS meeting here in South Africa on Monday. The meeting came days after External Affairs Minister S Jaishankar met Wang, director of the Office of the Foreign Affairs Commission of the Communist Party of China Central Committee, in the Indonesian capital Jakarta, and discussed outstanding issues relating to peace and tranquillity in border areas.

By Khanh Vu

Russia launched its sixth air attack this month on Kyiv early on Tuesday, the military administration of the Ukrainian capital said, with air raid alerts blaring for more than three hours over the city and east half of the country. Russia attacked Kyiv with Iranian-made Shahed drones, and based on preliminary information all the drones were downed by Ukraine's air defence systems, Serhiy Popko, head of Kyiv's military administration, said on the Telegram messaging app.

North Korea fired two short-range ballistic missiles into its eastern sea, South Korea's military said on Tuesday, adding to a recent streak in weapons testing that is apparently in protest of the US sending major naval assets to South Korea in a show of force. In its third round of launches since last week, North Korea fired the missiles just before midnight from an area near its capital, Pyongyang, South Korea's Joint Chiefs of Staff said. It said both missiles travelled around 400 kilometers (248 miles) before landing in waters off the Korean Peninsula's eastern coast.

Investing.com-- Most Asian stocks kept to a tight range on Tuesday as markets awaited more cues from a Federal Reserve meeting this week, while Chinese markets rose sharply after top officials promised more policies to support growth. 

Investing.com-- Oil prices rose slightly in Asian trade on Tuesday, sticking to three-month highs as signs of tighter supply and expectations of more Chinese stimulus helped offset uncertainty over an upcoming Federal Reserve meeting.

Benjamin Netanyahu, after last-gasp compromise efforts collapsed and failed to ease a constitutional crisis convulsing the country for months. The amendment limiting the Supreme Court's powers to void some government decisions if it deemed them «unreasonable» passed by a 64-to-0 vote after opposition lawmakers abandoned the session in protest, some of them shouting: «For shame!» Demonstrations against the amendment began early in the day with police dragging away protesters who had chained themselves to posts and blocked the road outside parliament.

Lok Sabha elections. "...2/3rd of the population is going to defeat BJP. I hope that the people of the country will give BJP a massive defeat...I am receiving inputs from all corners of the country that the BJP will be wiped out...," SP chief Akhilesh Yadav said ahead of the Opposition meeting.

release from the hospital, where he had undergone the implantation of a pacemaker, adding yet another dramatic twist to the ongoing events. While Netanyahu's supporters celebrated their triumph and pledged to proceed with further reforms, thousands of protesters took to the streets in Jerusalem and Tel Aviv to express their opposition.  Moreover, opponents of the law stated their intentions to challenge it in the Supreme Court, signaling a continued struggle over the proposed changes in the country's justice system.  “It’s a sad day," Associated Press quoted Opposition leader Yair Lapid as saying after the vote.

A leading Russian lawmaker says China and Russia’s CBDCs may be “compatible” and could be used to make international payments between the nations.

Home prices are again on the rise after a brief dip last year, complicating the Federal Reserve's effort to contain inflation and raising questions about how much further policymakers will have to hike interest rates. Demand for homes around the country continues to outpace supply, despite a rapid rise in borrowing costs spurred by the US central bank.

India last week suspended exports of non-basmati varieties of rice after heavy monsoon rainfall damaged newly planted crops due to be harvested in winter. With rice retail prices up 3% in the past month and 11.5% over the past year, the government hopes to quell food inflation by reserving more grain for the domestic market. It’s not the only crop that’s in crisis.

renewable energy and storage solutions, support the deployment of zero-emission buses, and diversify clean energy supply chains. "In Chennai, Secretary Kerry will attend the G20 Environment and Climate Sustainability Ministers Meeting," the statement read. Notably, the G-20's environment and climate sustainability ministers will meet on July 28 in Chennai.

By Stephanie Kelly

By Nia Williams

New Delhi: In its second international acquisition this month, auto parts maker Samwardhana Motherson International on Monday said it will take over German high-end polymer parts maker Dr Schneider's business at an enterprise value of €118 million. The acquisition will expand Motherson's footprint in the interior polymers business with enhanced offerings in premium lighting panels and air vents. The deal follows Motherson's acquisition of Honda's Yachiyo sunroof business earlier this month.