Country Financial News

The Canadian Food Inspection Agency (CFIA) has recalled E. coli-tainted carrots following a U.S. health warning about the contaminated produce linked to one death and dozens of illnesses.

Subscribe to enjoy similar stories. New Delhi: A blueprint to spruce up India’s tourism industry is in the works. The Centre is preparing a five-year plan to develop about 100 tourist destinations to global standards, and position them according to their individual potential, according to two officials close to the discussions.

Canada’s point person for U

Bank managers and financial authorities need to develop ways to react more quickly and effectively to bank runs, such as the one that led to the collapse of California-based Silicon Valley Bank last year, leaders of G20 countries were warned on Monday.

Compared to other Organization for Economic Co-operation and Development countries, Canada relies more on personal taxation revenues, which generally account for about 50 per cent of overall government revenues — that’s a big number — though it varies annually.

As car theft finally decelerates in Canada after a surge in recent years, the country’s top 10 stolen vehicles for 2023 have been revealed – and they’re mostly SUVs.The Toyota Highlander topped the list, with 3,413 thefts reported, according to the non-profit Équité Association. The Highlanders most commonly stolen were 2021 models.“The Toyota Highlander is a popular model in Canada, which is globally serviceable and has a high resale value both domestically and internationally,” Équité said in news release Tuesday.“It also shares similarities with nearly all of the vehicles on the national list, where the vehicles are 2019 or newer models, and have vulnerabilities that come with keyless ignitions, particularly as these vehicles do not come equipped with anti-theft devices aligned to the ULC 338 Anti-theft Standards.”The Dodge Ram 1500 Series truck came in second place with 3,078 thefts across the country last year, followed by the Lexus RX Series, which was stolen 3,037 times.The Honda CR-V, which was ranked Canada’s top stolen vehicle for two consecutive years, was bumped down to the fourth spot with 2,988 thefts.

Insurance industry regulator Irdai's Chairman Debasis Panda on Tuesday urged bankers to focus on their core job and not pedal insurance alone. In comments that come a day after Finance Minister Nirmala Sitharaman also made similar suggestions, Panda said the bancassurance channel is very useful in deepening the reach of insurance in the country. «There is merit in the system but we have to do it with care and caution so that you don't forget your activity and only start selling insurance. It should be incidental,» Panda said, speaking at the annual banking and economy conclave organised by SBI here. Insurance companies definitely need low-cost distribution solutions like the ones offered by the banks, which have a massive spread across the country and cover nearly all the inhabited places, he said.

Journalist unions in Greece have launched a 24-hour strike, joining broader labor unrest on the eve of a nationwide general strike

Serbian opposition protesters have blocked a court house over a deadly roof collapse at a railway station in the country's north earlier this month, setting off a standoff with riot police

British farmers have descending on Parliament to protest a tax hike they say will deal a “hammer blow” to struggling family farms

Germany’s defense minister says officials have to assume that damage to two data cables under the Baltic Sea was caused by sabotage

Big money to respond to climate change is key to the United Nations talks underway in Azerbaijan

The Income Tax (IT) department is taking a lenient approach this year to address the non-disclosure of foreign assets in income tax returns filed in the current assessment year. This week, the department has sent out emails to taxpayers who have not reported foreign assets, asking them to revise their tax return. 

India looks for equity, balance and fair trade while negotiating a free trade agreement (FTA), Commerce and Industry Minister Piyush Goyal said on Tuesday. He asserted that India has entered into FTAs with countries which are transparent, open and where governments' economic systems align with India.

Spain's new immigration rules will allow for the regularisation of some 300,000 undocumented migrants per year over the next three years as the country seeks to expand its labour force, Migration Minister Elma Saiz told reporters on Tuesday. Unlike many of its European peers — such as Italy — Spain, led by a leftist minority coalition government, has been largely receptive to migrants. «Spain has to opt between being an open, prosperous country or being a closed and poor one, and we have chosen the former,» Saiz said, adding that the nation needs around 250,000 to 300,000 foreign workers a year «to sustain (its) welfare state».

Subscribe to enjoy similar stories. RMZ Digital Infrastructure Partners (RDIP), part of real estate firm RMZ, has entered into a joint venture with Colt Data Centre Services (Colt DCS), a global hyperscale data centre operator, to jointly invest $1.7 billion to develop data centres across cities in India. The equal partnership between RMZ and UK-headquartered Colt DCS plans to build data centres with a combined capacity of 250MW over the next 3-5 years.

«Surging steel imports is a major concern especially from surplus and major exporting countries including China, Japan and Korea,» the Indian Steel Association (ISA), a producers' body, said in its presentation to the Directorate General of Trade Remedies (DGTR), an arm of the federal trade ministry. The steel industry's presentation to DGTR has not been previously reported.

Subscribe to enjoy similar stories. The recent US election that carried Donald Trump back to the White House with a strong mandate underlines a point that was perhaps forgotten by political leaders in many rich countries over a long era of stable prices: Inflation matters. No election result is monocausal.

Subscribe to enjoy similar stories. This year’s United Nations Climate Change Conference (CoP-29) in Baku is taking place against a tumultuous geopolitical backdrop. In addition to shifting strategic alliances, trade tensions and violent conflict, the ‘year of elections’ has ushered in a period of heated political rhetoric and led to changes of government.

SoftBank Vision Fund’s former co-chief executive officer Rajeev Misra, has upped its size by more than $1 billion this month to support its growing operations as it opens offices in countries such as Japan and India, according to people familiar with the matter. The fundraising has increased OneIM’s size to $8 billion, the people said, asking not to be named as the information is not public. The two-year-old fund plans to open an office in New Delhi, adding to its presence in New York, London, Abu Dhabi and Tokyo, they said. OneIM is backed by Abu Dhabi conglomerate Royal Group and Mubadala Investment Co., one of the emirate’s sovereign wealth funds, Bloomberg News reported earlier. The investment vehicle will look for lending and investment opportunities globally, and some of these deals could be in partnership with its existing backers, the people said.

AMPIN Energy Transition on Tuesday said it has partnered with Copenhagen Infrastructure Partners (CIP) for joint equity investment of USD 300 million to set up renewable energy projects across India. The new collaboration follows the existing partnership that AMPIN and CIP entered in 2021 to enable joint equity investments of initially USD 200 million in renewable energy projects in India, a company statement said. «This new partnership along with the existing one is creating a USD 2.7 to 3 billion renewable energy asset base in India,» it said. Pinaki Bhattacharyya, Founder, MD and CEO of AMPIN Energy Transition said, «This deepened partnership not only strengthens our ability to expand our impact and accelerating India's renewable energy transition but it also reinforces our shared commitment to driving innovation and sustainable value creation.»