Country Financial News

The youth should aspire to be job givers, not just job seekers. Who gave this clarion call? Most would guess that it was our Prime Minister, during his electoral campaign of 2014. But it was not just him.

This week, the UK will see rail strikes as workers demand significantly higher pay raises. From Sunday, workers on London’s fabulous metro are threatening industrial action. Earlier this month, it was the turn of doctors of the National Health Service (NHS), who rejected Prime Minister Rishi Sunak’s offer of a 6% salary hike and are demanding 35% to catch up with what in developed-world terms has been runaway inflation.

Microsoft Corp. has taken a strategic step in its pursuit of acquiring Activision Blizzard by extending the agreement for the $69 billion acquisition until October 18, 2023. The extension aims to overcome remaining regulatory obstacles and create one of the largest video game developers globally. Negotiations led to revised terms, including termination fees, in case the deal does not go through after specific dates. The original deadline for the $69 billion acquisition of Activision Blizzard by Microsoft was set for July 18. However, to address regulatory concerns and ensure a smooth merger process, both companies have agreed to extend the deal deadline until October 18, 2023. This extension allows them to navigate and resolve any remaining hurdles.

G20 ministerial in Goa and Chennai, ministers from 14 countries including the Marshall Islands, Samoa, Palau, Federated States of Micronesia, Vanuatu, Colombia, have under the banner of the High Ambition Coalition called on G20 hosts India and other members to agree on measures such as phasing out fossil fuel use to ensure that average increase in global temperature does not exceed 1.5°C compared to the 1850s. “We urge you, as leaders of the G20, to accelerate your efforts to reach net zero greenhouse gas emissions, to expand your cooperation and lead the way in phasing out all fossil fuels and in transitioning to a green sustainable energy future where access to energy is guaranteed for all,” the ministers wrote in an open letter to the G20.

A recent Wall Street Journal editorial suggested Canada should sit at the kiddies table in the NATO alliance instead of with the adults. This is because as a share of GDP our defence spending is seventh lowest among NATO’s 31 member nations. It’s also lowest among the G7, which prompted the Journal to question whether we are still willing to accept our responsibilities as a member of the G7. It concluded that if this country “doesn’t want to play that role, then the G-7 should consider a replacement.”

By Valerie Volcovici and David Stanway

shipping industry is projected to sustain its performance in the current fiscal, albeit with some moderation in operating margins, CareEdge Ratings said in its report on Wednesday. The outlook for the Indian shipping industry is stable, primarily because the mid-size tanker (both crude and product) and dry Bulk segments account for the majority of vessel capacities, it said.

Uttar Pradesh Police on Wednesday said it would not be appropriate to say if Pakistani citizen Seema Haider, who entered India illegally in May and is staying with her partner in Noida, is a spy «unless we have enough proof». Seema (30) and her Indian partner Sachin Meena (22) were questioned by the Uttar Pradesh Police's Anti-Terrorist Squad on Monday and Tuesday. They were first arrested by the local police in Greater Noida on July 4 but were granted bail by a court on July 7.

Five European Union countries will extend their ban on Ukrainian grain to protect their farmers’ interests

BJP MLAs, including former CM Basavaraj Bommai, who staged protest outside Karnataka Assembly, detained and taken away in a police vehicle. BJP MLAs, including former Chief Minister Basavaraj Bommai, were detained and taken to the Vidhana Soudha police station for staging a demonstration outside the Karnataka Assembly in protest against the suspension of 10 party legislators. JD(S) second-in-command and former Chief Minister H D Kumaraswamy too had briefly joined the BJP during the protest.

Former Intel India head Nivruti Rai has joined as the Managing Director and CEO of Invest India, the Ministry of Commerce and Industry informed on Wednesday. She took over the charge from Manmeet K Nanda, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), who had assumed this additional charge in March 2023. Nanda had taken over Invest India from Deepak Bagla who resigned from his post citing "personal reasons".

Crypto memes may amount to criminal offenses if they don’t comply with existing financial promotion rules, warned the United Kingdom’s top financial regulator on Monday. 

French banking giant Societe Generale’s crypto arm has received a full Digital Asset Service Provider (DASP) license from the country’s financial regulator Autorité des Marchés Financiers (AMF).

Canada still plans to introduce a digital services tax in 2024 despite U.S. opposition, Finance Minister Chrystia Freeland said.

Canada’s luxury housing market has bounced back in recent months, but it’s also undergone a major change: the country’s four biggest markets can no longer be painted with the same broad brush.

A United Arab Emirates resident and Nigerian citizen was sentenced to 8 years in federal prison for orchestrating a multi-million dollar fraud scheme that victimized businesses across the U.S., Illinois federal prosecutors said.

New Delhi (India), July 17: The inaugural City Champions Summit today recognised and awarded 15 top Indian organisations driving urban transformation. The 15 innovators honoured at the event were chosen by a 9-member jury from across the country.

India’s Tata Sons has confirmed plans to build a 4-billion-pound, or $5.2-billion, electric car battery factory in the U.K. The plant is expected to become one of Europe’s largest battery cell manufacturing sites when it begins production in 2026

South Africa says Russian President Vladimir Putin will not attend an economic summit in Johannesburg next month

Nigeria is trying to make Africa’s largest economy reliant on its own wheat production

Russia unleashed intense overnight drone and missile attacks that officials said damaged critical port infrastructure in southern Ukraine, including grain and oil terminals, and wounded at least 12 people