Country Financial News
19.07 / 21:31
UPS
Provident
CEO
country
negotiations
week
Teamsters and UPS to resume negotiations next week as contract deadline approaches
The Teamsters said Wednesday they will resume contract negotiations with UPS next week, marking an end to a stalemate that began two weeks ago when both sides walked away from talks while blaming each other
19.07 / 19:43
UPS
Maxim
Manufacturing
Mobile
country
Tata Sons to set up £4 bn battery factory in UK
NEW DELHI : Tata Sons on Wednesday said it would invest £4 billion ($5.16 billion) to establish a new 40GW battery cell gigafactory in the UK. The cells will be utilized to supply to group companies Tata Motors and Jaguar Land Rover for their electric vehicles, as well as cater to renewable energy storage solutions for customers in Europe and the UK, the company said in a press release. “JLR and Tata Motors will be anchor customers, with supplies commencing from 2026", it said.
19.07 / 19:43
Target
Aware
Manufacturing
country
New stainless steel policy to target 5X jump in capacity
NEW DELHI : The Union steel ministry has started industry consultations to frame India’s first stainless steel policy, an official aware of the matter said. The policy will aim to raise domestic capacity by nearly fivefold by 2047, from the current 6.6 million tonnes (mt) to 30 mt. A key objective of the policy is to reduce dependence on China for nickel, silicon and chromium, which are used to make stainless steel.
19.07 / 19:41
BLOCK
Assurant
Apple
country
WTO
US at WTO: India allows GM cotton, mustard at home but blocks imports
New Delhi mandates a non-GMO and GM-free status certificate from exporting countries for 24 food products, including apples, wheat, rice, tomato and potato. In a submission to the WTO on Tuesday, it asked India to revoke the measure.
19.07 / 18:51
BLOCK
Amazon
COMPOSITE
country
audience
Hero
Inuyashiki: Last Hero- A Sci-Fi anime on Hiroya Oku's acclaimed Manga
Inuyashiki anime premiered on Fuji TV's Noitamina block in Fall of 2017 and was also streamed on Amazon Prime Video in Japan. While global audiences can access it on Amazon Prime Video, the series was previously available on Anime Strike in the USA. Following Anime Strike's discontinuation, it became accessible on Amazon Prime Video. Recently, Crunchyroll also acquired the rights to stream all 11 episodes of Inuyashiki, expanding its availability to countries like Canada, the USA, Australia, New Zealand, Central and South America, and Scandinavian countries. The Intriguing Plot of Inuyashiki: Last Her
19.07 / 18:51
Racing
awards
film
country
song
singer
controversy
Jason Aldean’s video pulled out by CMT; What is the controversy over 'Try That In A Small Town' song?
Country Music Television (CMT) has decided to stop airing Jason Aldean's music video «Try That In A Small Town» following its release on Friday. This decision came after Aldean faced backlash due to perceived themes of gun violence and lynching in the song. The network received criticism from online critics who viewed the lyrics as promoting sentiments that could exacerbate gun violence and lynching among Aldean's rural, small-town fan base. A CMT spokesperson confirmed the removal of the video from rotation in an email to USA TODAY on Wednesday. Viewers pointed out that certain scenes in the music video were filmed at the Maury County Courthouse in Columbia, Tennessee. This location holds historical significance as it was the site of the 1927 lynching of Henry Choate, an 18-year-old Black man. It is also associated with the infamous Columbia Race Riot that took place in 1946.
19.07 / 18:25
COST
UPS
Lowe's
country
Union cabinet to consider pharma dept’s R&D scheme
₹5,000 crore for a period of 5 years, i.e., from 2023-24 to 2027-28. Despite India is known for its supplies of accessible and affordable generic drugs to the world, the expenditure in research and development particularly in the pharma sector is very low. The R&D sector accounts for only 7% of the overall expenditure by the Indian pharma industry, compared to over 35% spending in R&D in the developed countries.
19.07 / 18:23
COST
Citi
FIVE
country
Schwab shuts down offices in five cities, merges more
As the wider brokerage industry figures out how to cut real estate costs in a work-from-home era, one firm, Charles Schwab Corp., said Tuesday it was closing offices in five cities because employees in those locations are now working from home.
19.07 / 18:13
show
performer
country
What India’s top exporting states have done right
Seven states account for 75% of India’s exports and they have dominated the Niti Aayog’s Export Preparedness Index for the last three years. What are they doing right? Mint looks at their policies and how they are building the ecosystem. Tamil Nadu has emerged as the most export-competitive state in the country.
19.07 / 18:13
UPS
Manufacturing
awards
Samsung
country
Fresh bids for advanced chemistry cells
₹18,000-crore Advanced Chemistry Cells, or ACC project. The scheme aims to incentivize production of 20GWh battery storage capacity, it said on Wednesday. During the initial round of awards under the PLI scheme, three companies qualified for incentives: Ola Electric, Reliance New Energy, and Rajesh Exports.
19.07 / 17:57
UPS
Provident
MET
Reuters
country
cover
Russia warns against any ships traveling to Ukraine from Thursday
Russia warned that from Thursday any ships traveling to Ukraine's Black Sea ports will be seen as possibly carrying military cargoes after Ukraine said it was setting up a temporary shipping route to try and continue its grain exports. The moves by both countries on Wednesday came just days after Russia quit a deal — brokered by the United Nations and Turkey — that allowed the safe Black Sea export of Ukraine grain for the past year, and revoked its guarantees of safe navigation.
19.07 / 17:57
COST
Provident
Lowe's
Target
country
Hone our healer instinct
Medical tourism in India has been growing at a galloping pace. Interestingly, among the top 10 countries from where medical tourists arrive, nine happen to be majority-Muslim: Bangladesh, Afghanistan, Indonesia, Oman, Turkey, Iraq, the UAE, Sudan and Nigeria, the other being Nepal. This is a true, measurable sign of India's rising stature in the world.
19.07 / 17:57
Progressive
Mobile
show
country
Ease doing business for differently-abled
India Campaign/Sugamya Bharat Abhiyan, launched in 2015, reports and anecdotal evidence abound to show that navigating India remains a nightmare for PwDs. In this context, the Comptroller and Auditor General of India's (CAG) reported decision to order a pan-India audit of disability features in government buildings constructed or retrofitted between April 2022 and March 2023 is very welcome. According to Census 2011, there are 26.8 million PwDs in the country.
19.07 / 17:57
Lowe's
Progressive
Fallout
track
country
voice
Counting down G20 agreement nicely
India is gaining valuable experience in shepherding opinion on the top policy challenges confronting the global economy. The third meeting of the G20 finance ministers and central bank governors under India's rotating presidency held in Bengaluru this week saw progress in negotiations for a common debt framework, reform of multilateral lending institutions, a new approach to international taxation and synchronised regulation of cryptocurrencies. Marshalling a consensual approach to these issues demonstrates a mature handling of conflicting interests of member countries that wield bigger clout in world affairs.
19.07 / 17:41
UPS
Citi
Progressive
country
network
China’s Grand Vision for a Vast Rail Network Transforms a Neighboring Country
A few years ago, this small town on the border with China was a few dusty lanes surrounded by tropical forests. Now, a nearly $6 billion Chinese-built railroad cuts through it—and a city is rising. Dozens of half-constructed office towers and warehouses rise into the skyline.
19.07 / 17:41
Provident
Waters
TCS
country
Is TCS applicable if NRIs transfer the proceeds of property sale?
Can non-resident Indians (NRIs) transfer the proceeds of a property sale to their country of residence? In such a case, will banks collect tax at source even after all tax dues on such sale has been cleared? —Name withheld on request NRIs are allowed to remit upto $1 million in a financial year from the balance held in their NRO (non-resident ordinary) account or from the sale proceeds of a property held in India. These sales proceeds must first be credited to their NRO account in India. Any tax due on such sale should have been duly paid by the NRI in India.
19.07 / 17:41
COST
show
country
Oil prices
Oil prices rise on tighter US crude supplies, lower Russian exports; Brent trades above $80/bbl
₹6,1239 per bbl, having swung between ₹6,188 and ₹6,351 per bbl during the session so far, compared to their previous close of ₹6,221 per bbl. U.S. crude inventories fell by 708,000 barrels in the last week to 457.4 million barrels, Energy Information Administration data showed on Wednesday. For the first time since January 2021, the data showed inventories in the Strategic Petroleum Reserve climbed, as the U.S.
19.07 / 17:41
MET
Cooper
country
‘India could have played more active role in West Asia’
TEHERAN : India could have played a more active role in West Asia, said Iranian Deputy Foreign Minister Ali Bagheri Kani, just months after China helped broker a key normalisation pact between Iran and Saudi Arabia. Speaking to a delegation of Indian journalists in Tehran, Kani said Indian diplomacy had shown “passivity" in the region in contrast to China. “I believe,among the great powers of the world, it is the Chinese party that has emerged victorious because it did not allow the United States’ illegal restrictions to affect its bilateral relations with different countries.
19.07 / 17:41
COST
Citi
Provident
Digital
Strategy
Enterprise
country
Centre
‘Doubling data centre capacity’
New Delhi/Bengaluru NTT Ltd, which merged its data centre and information technology (IT) services divisions last October, is bullish on India, having announced a five-year, $2.5 billion investment in January to build data centres in Maharashtra. In a recent interview, Abhijit Dubey, global chief executive NTT, and NTT India CEO, Avinash Joshi, shared the company’s roadmap while explaining why India is NTT’s largest employee base outside its home turf of Japan, and how artificial intelligence (AI) will influence demand for data centres, among other things. Edited excerpts: What is the extent of operations for NTT in India? Dubey: We have about 40,000 employees in India, and it’s the largest outside NTT’s home base in Japan.
19.07 / 17:23
COST
Citi
Metro
country
social
Low
Non-AC general category trains aimed at low-income groups to run regularly from next year: Officials
Railway Board is planning to run non-air conditioned, general category trains for low-income groups like migrant workers and labourers across the country as part of its regular timetable, senior officials said Wednesday. Usually, such special trains are run during festival time or in summer when there is a rush due to the holiday season. The new trains will, however, be permanent fixtures.
19.07 / 17:09
Waters
Telegram
country
Russia to deem Ukraine-bound ships 'potential carriers of military cargo' from Wednesday eve
(Reuters) — Russia's Defence Ministry said on Wednesday it would deem all ships travelling to Ukrainian ports to be potential carriers of military cargo and their flag countries to be parties to the conflict on the Ukrainian side.
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