Country Financial News

direct mutual fund distributors like Groww grab market share, traditional offline financial distributors are increasingly searching for their own technology stack to remain relevant and grow. Chennai-based AssetPlus and Gurugram’s ZFunds are tapping into that opportunity. They are working with these offline agents, providing them with a technology stack to help them offer the best investment advice and products to their clients. Venture funds are opening up to backing them too. According to two people in the know, ZFunds is in talks with Elevation Capital to lead a Rs 25 crore equity funding round, which will be its first institutional funding round.

Bank of Baroda and Axis Bank are considering raising funds totalling ₹6,500 crore through bonds to boost their capital base, said market sources. State-run Bank of Baroda will likely offer tier-2 bonds worth ₹3,500 crore for 15 years, while private lender Axis Bank is looking at raising ₹3,000 crore through tier-1 bonds.

The leader of Canada’s most populous province says all of the country’s provincial and territorial premiers want Prime Minister Justin Trudeau's federal government to negotiate a bilateral trade deal with the United States that excludes Mexico

One of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in India by concealing that it was being facilitated by an alleged bribery scheme

Brazil's President Luiz Inácio Lula da Silva has welcomed China’s President Xi Jinping for a state visit at the Alvorada Palace in Brasilia, in the latest sign of deepening ties between the two countries that analysts say may accelerate as Donald Trump...

First things first. Hot off the press.

We are now on day six of the nationwide mail strike, after year-long negotiations between Canada Post and the Canadian Union of Postal Workers (CUPW) failed last week and 55,000 postal workers hit the picket lines — just ahead of Black Friday and the busy holiday season. Here’s the latest on the ongoing talks and the strike’s impact on Canada Post customers.

Numerous celebrities have expressed their wish to leave America in favour of a new life overseas ahead of his inauguration in January; many of them made their intentions known long before the election even happened, as quoted in a report by MarketWatch. A lot of celebrities, including Sharon Stone, are searching for a better life overseas. Stone, an A-lister, has revealed that she is considering a house in Italy, while Cher made clear her drastic steps if Trump were to fight his way into the White House again before the election.

Digital Public Infrastructure (DPI), Artificial Intelligence and data for governance amid global economic growth at just over 3%, its lowest rate since the turn of the century. Accelerating progress towards the SDGs requires inclusive digital transformation.

This year, Russian missile attacks have knocked out about 50% of Ukraine's power generation, a major threat as winter looms

Ford is cutting its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars

California voters have rejected a measure on the November ballot that would have raised the minimum wage for most workers to $18 an hour

South African authorities are embroiled in a standoff with an unconfirmed number of illegal miners who remain underground at an abandoned mine, apparently fearing arrest by police officers at the site

President-elect Donald Trump has vowed to repeal President Joe Biden’s signature artificial intelligence policy when he returns to the White House for a second term

The Czech Defense Ministry says it's planning to buy 14 Leopard 2A4 tanks from Germany in a deal worth about $167 million

Tax Justice Network's 'State of Tax Justice 2024' report was made public on Tuesday. It has dropped like a grenade into the neatly-raked zen garden of global finance. The report reveals a staggering $492 bn lost annually to global tax- dodging that's lounging in secret offshore accounts, funding billionaire jets, yachts and even booking for future intergalactic travel. This is a tale of two kinds of tax-avoiders: one, corporate; the other, personal. Two-thirds of the total $347.6 bn comes from MNCs playing an elaborate game of offshore hopscotch to underpay taxes. The remaining third, $144.8 bn, stems from HNIs hiding their treasure chests in tax havens. So, who's enabling this grand evasion? Eight countries, the 'Elite Eight', are at the forefront: Australia, Canada, Israel, Japan, New Zealand, South Korea, Britain and the US. Together, these economic heavyweights are responsible for nearly half of global tax abuse losses.

Families of victims who were murdered by notorious serial killer and rapist Paul Bernardo have been barred from attending his upcoming parole hearing in person, according to the families’ lawyer.

steel imports are landing from FTA countries at nil duty and any duty hike will not have any impact on these shipments, Steel Secretary Sandeep Poundrik said on Wednesday while acknowledging that there is a genuine problem of supply glut due to increased imports. His comments have come against the background of domestic steel players raising concerns over rising cheap steel imports from select nations, affecting their competitiveness. The domestic industry has also sought an increase in customs duty on steel products to check below-cost shipments. Speaking at a Ficci event here, the Steel Secretary even if the government raises the basic customs duty on imports, the move will not have the desired impact as 62 per cent of the shipments entering India from FTA nations. There is a genuine problem and the ministry is aware of that, Poundrik said adding that there are multiple ways to protect the domestic industry but the only problem is that 62 per cent of imports are from FTA countries.

Guyana as President Irfan Ali broke the protocol to receive PM Modi at the airport. Both Guyana and Barbados, another small Caribbean country, will confer their highest national awards on Modi. People of Indian origin, the biggest ethnic group in Guyana, make up 43.5% of the population. There are around 3,20,000 people of Indian origin in Guyana, according to the Ministry of External Affairs (MEA), which described it as «one of the oldest Indian diasporas, which migrated more than 185 years ago». «Prime Minister received a rousing and colorful welcome from the Indian community and the Indo-Guyanese diaspora in the presence of several Cabinet Ministers of Guyana,» the MEA said in a statement. However, the presence of a large Indian-origin community is not the only reason PM Modi is visiting Guyana. It may be a tiny country but it is assuming great global significance due to its huge oil reserves. Forging economic relations with smaller countries is part of Modi's agenda to bring together the Global South.

Crown Princess Mette-Marit's eldest son has been arrested again, this time on suspicion of sexual assault. Marius Borg Høiby, Mette-Marit's son from a previous relationship, is the stepson of Crown Prince Haakon, the heir to the Norwegian throne. He has no official functions or royal titles, as quoted in a report by The AP. Borg Høiby was arrested in Oslo late Monday on preliminary allegations of participating in sexual intercourse with someone who is unconscious or for other reasons unable to resist the act. A preliminary charge allows police to detain somebody while they conduct an investigation and precedes a formal charge. Also Read:High Potential: When will new episodes release? Here’s what we know so far