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Gaza, triggered by a Hamas attack on Israel in October last year, and later pulled in Hezbollah too. The ceasefire does not extend to Gaza, where Israel’s military continues to fight Hamas as there is no progress on the release of Israeli hostages held by Hamas. Yet, the ceasefire is a definite turning point in the conflict and raises hope for final resolution. The ceasefire comes as a good news for India not just because India has trade and business interests in the Middle East which will be harmed if a wider war breaks out, but also because a highly ambitious project, which was deferred due to the conflict, can be back on track. The most consequential announcement at last year's G20 Summit in Delhi was the commitment to build a rail-and-port network that will connect India to the Middle-East and the Middle-East to Europe and the US. It has been named the India-Middle East-Europe Economic Corridor (IMEEC). Though no leader from the participating countries mentioned China, it is an obvious alternative to China's Belt and Road Initiative (BRI) that aims to connect the whole world to China through shipping, rail and road networks.

Financial Action Task Force's recommendations to tackle money laundering and terror financing, a central government official said on Wednesday. India is among the few countries that are working on FATF recommendations to regulate the fintech industry, said Vivek Agrawal, additional secretary (department of revenue), ministry of finance, during the ongoing 41st plenary meeting of the Eurasian Group in Indore. FATF leads global action to tackle money laundering, terrorist and proliferation financing. The Reserve Bank of India (RBI) has also issued separate guidelines to regulate payment aggregators and payment gateways, he said.

Subscribe to enjoy similar stories. One of the most striking images in Rohit Chawla’s new series,Havana, is of an old bespectacled lady, sporting an array of vibrant blooms in her hair, beaming with smile. Photographed against a Spartan beige wall, her entire being radiates cheer and positivity.

Google has appointed former Apple India executive Mitul Shah as the managing director for its devices and services business in India, as the tech giant intensifies its focus on scaling its Pixel smartphone sales in the country. In his new role, Shah will lead Pixel's sales and expansion strategies across India. Prior to this he served as the head of consumer sales for Apple in India. In a LinkedIn post on November 27, Shah wrote, «To everyone who has asked me in the last few weeks, why 'switch' from Apple? This is not a switch. This is a continuation of the mission of putting the world's best technology in the hands of fellow countrymen and women.»

SBI Funds Management has announced the appointment of Nand Kishore as Managing Director and Chief Executive Officer. Nand Kishore, Deputy Managing Director of State Bank of India, takes over as the Managing Director and Chief Executive Officer of SBI Funds Management from Shamsher Singh. Prior to his current deputation at SBIFM, Kishore served as Deputy Managing Director (Global Markets) at SBI’s Corporate Centre in Mumbai, where he oversaw the bank’s treasury operations.

Subscribe to enjoy similar stories. Every month, Mint’s Plain Facts section brings out an update on key global data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India.

Turkey follows behind in second place. Mine production in 2023 stood at 36.5 tonnes, which is six times lower than the demand of 201.6 tonnes. Gold demand in Turkey has also been rising, going from 1.13 grams per person in 2021 to 1.43 grams in 2022 and 2.34 grams in 2023. Rounding out the top three is China. With a population of over 1.4 billion, the country has a yearly gold demand of 909.7 tonnes. Although the mine production figure is the highest seen in all 10 countries, it still falls short of the demand by two times.

“They have huge domestic requirements and for that they want to set up manufacturing facilities here. They want to get these supplies from India,” ToI's report (by Dipak K Dash) said quoting a railway ministry official. TMH CEO Kirill Lipa elaborated on the plan at the company's Moscow headquarters. “The current interest rate in India is very different from other countries. So, we are interested and ready to invest in India. We are interested in developing several facilities in India, which are capable of providing certain components and we think some of them can be supplied to the Russian market as well.”

Mahesh Jethmalani said on Wednesday that while US and India have had excellent relations, he believes that the Joe Biden-led Democratic administration has done 'irreparable harm' to the bilateral ties between the two countries. Jethamalani made the comments while speaking in reference to the allegations pinned against the Adani group by the US Department of Justice and the US Securities and Exchange Commission. He linked the case's timing with the exit of the Democrats from power in American as Donald Trump is set to take the Oval Office in January 2025.

HDFC Bank, M&M, and Infosys were offset by losses in Reliance Industries and Bharti Airtel. The BSE Sensex was trading 14 points, or 0.02%, lower at 79,992. The Nifty50 was down 18 points, or 0.08%, trading at 24,175 around 9:25 am.

COP29 climate conference in Azerbaijan at the weekend as a sort of diplomatic echo of the US election result three weeks earlier. In the US, progressives found themselves blocked by a surprisingly strong coalition of both traditional Republicans, and a faction of working class and non-White supporters whom they’d regarded, perhaps naively, as their natural allies. At the United Nations climate conference in Baku, rich nations found that efforts to reduce their own emissions and fund climate programs elsewhere in the world bought them little favor with developing countries most at risk of global warming. Both situations are powerful examples of aspirational politics. Since the 19th century, conservatives have marketed themselves to the electorate by arguing that their policies were the best way to achieve the wealth and independence sought by working-class voters.

Brazilian beef is headed back to the shelves of Carrefour-owned grocery stores after a brief boycott sparked by remarks from the French company’s chief executive about nations in the South America trade bloc Mercosur

Canadian officials are blasting President-elect Donald’s Trump’s threat to impose sweeping tariffs

President-elect Donald Trump is threatening tariffs on Mexico and Canada as he seeks to portray them as responsible for illegal immigration and drug smuggling

Subscribe to enjoy similar stories. Executives at Zeiss SMT, which makes indispensable components to build the world’s most powerful semiconductors, got some troubling news last fall. Headhunters from Huawei Technologies, the Chinese tech firm, were trying to poach its employees.

The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices

Mexican President Claudia Sheinbaum has suggested Mexico could retaliate with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% tariffs on Mexican goods if the country doesn’t stop the flow of drugs and migrants acros...

The Corcoran Group founder Barbara Corcoran argues that a massive mortgage rate drop would be ‘tremendous’ for the markets during an appearance on ‘Cavuto: Coast to Coast.’

Subscribe to enjoy similar stories. The stiff duties that President-elect Donald Trump threatened against the U.S.’s neighbors and big trading partners, along with the additional tariffs he promised against China, could raise prices for Americans on everything from fresh fruit from Mexico to lumber from Canada and Chinese electronics. Import-reliant businesses—especially automobile manufacturers—could face significantly higher costs that they would then pass on to consumers.

Subscribe to enjoy similar stories. WASHINGTON—President-elect Donald Trump’s brandishing of tariffs on goods from Canada, Mexico and China marks the passage from one era to another: Partnerships are out, and coercion is in. Trump is showing his second term will be much like his first, defined by the economic and diplomatic fights he picked with friends as well as foes.

President-elect Donald Trump picked Kevin Hassett to lead the National Economic Council, a role that puts him at the center of the administration's policy-making discussions from trade to taxes and deregulation.