Country Financial News

Olympic gold medals are worth more than ever at this year’s Paris games, with the raw materials that go into them having the potential to fetch about $900 each.

Youth Affairs and Sports Minister Mansukh Mandaviya on Monday urged youth to work with commitment and dedication to become successful and make India a developed nation by 2047. Addressing the «Impact With Youth Conclave 2024» here on International Youth Day, the minister said the 'Mera Yuva Bharat — 'MY Bharat' portal launched by the Centre will become a single window platform for the youth. This year's International Youth Day, themed 'From Clicks to Progress: Youth Digital Pathways for Sustainable Development,' emphasises the importance of digitalisation and the pivotal role young people play in this transformation. «This is a country with a population of 140 crore. It is our collective responsibility to make India a developed nation. In such a situation, youth have a special responsibility,» Mandaviya said.

Hina Khan is winning hearts across the Internet for coming out in support of Bangladeshi Hindus, who have been the target of communal attacks ever since the former Prime Minister Sheikh Hasina was made to resign after an uprising. Taking to X, the ‘Yeh Rishta Kya Kehlata Hai’ actress mourned how minorities become the casualties in every political upheaval and sent her prayers to the minorities of Bangladesh. “Every innocent death is the death of humanity, no matter what country caste or religion. No community should go through such horrific acts, what’s wrong is wrong. Preservation of minorities in any country is the symbol of their collective community nature. My heart goes out to every individual who’s suffering all around the world. Because for me, humanity comes first. I pray that the Hindus and other minorities of Bangladesh remain safe in their own country,” she tweeted.

PM-Surya Ghar: Muft Bijli Yojana. Under the scheme component, emphasis has been laid on creating one model solar village per district across India, to promote solar energy adoption and enable village communities to become self-reliant in energy needs, Ministry of New and Renewable Energy (MNRE) said in a statement. A financial outlay of Rs 800 crore has been allocated for this component, providing Rs 1 crore per selected Model Solar Village, the ministry said. The scheme guidelines for implementation of Model Solar Village were notified by MNRE on August 9, 2024.

shipping industry worldwide. As per BIMCO’s Manpower study, which is published every 5 years (the last being published in 2021) India ranked as the 5th largest manpower supplier in Shipping globally. In 2021 together with Philippines, Russian Federation, Indonesia, China & India supplied bulk of the global workforce in shipping. These 5 countries collectively accounted for 44% of global supply of seafarers. India accounted for 2,50,071 active seafarers of which 1,51,840 were Ratings & 98,231 were officers. Chinese seafarers catermainly to their own national flag and / or coastal ships. The reason for Chinese being limited to their national industry is obviously due to their language barrier.

Adani Green Energy’s (AGEL) RE capacity would see >30% CAGR during FY24-30, domestic brokerage firm Emkay Global initiated coverage on the stock with a buy rating and a target price of Rs 2,550. “AGEL’s RE capacity would see >30% CAGR during FY24-30E, while the improving CUF would drive a power sales CAGR of ~35%. Rising share of merchant-C&I volumes (20% by FY30) should support realizations, leading to ~35% consol. gross revenue CAGR, while concentrated development—mostly in the high-yield Khavda asset—should further optimize capex-opex efficiency, boosting its cost leadership and industry-leading metrics (EBITDAM, asset turnover) and helping it secure more PPAs competitively,” said Emkay Global in its report.

Independence Day, observed on August 15th, marks the country's liberation from British rule in 1947. This significant day offers a unique opportunity for students in classes 1, 2, and 3 to explore the concept of independence through creative writing. Crafting an essay about this day helps young learners grasp the essence of freedom, unity, and patriotism.

India. President Muizzu further emphasized that India has always been one of the closest allies and invaluable partners, facilitating and providing aid whenever the Maldives needed it, the Maldivian President's Office said in a statement. He was speaking at the ceremony held at the Maldivian President's Office, where he was handing over the completed water supply and sewerage facilities on 28 islands in the Maldives, funded by the Government of India's Line of Credit Facility through EXIM Bank of India.

Afghanistan, the Taliban government has achieved some diplomatic wins even as it has consolidated power and enforced its strict version of Islamic law. The Taliban rulers continue to operate without official recognition from any country — its restrictions on women a major sticking point. But concern over Afghanistan's worsening humanitarian crisis, the threat of terrorism, and hard-nosed pragmatism have led to some international engagement.

Union Minister Giriraj Singh on Monday said Hindenburg Research has defamed the country in alliance with Congress and the «strictest action» will be taken against the US short-seller. Hindenburg on Saturday launched a broadside against markets regulator Sebi chairperson Madhabi Buch, alleging she and her husband Dhaval had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal. The duo has denied the allegations as baseless and asserted their finances are an open book. The Adani Group termed the latest allegations malicious and based on manipulation of select public information. The company said it has no commercial relationship with the Sebi chairperson or her husband.

Axis Commercial Real Estate Fund, a strategic partnership between Axis Asset Management Co and global real estate developer, owner, and operator Tishman Speyer, has acquired a 1.5-acre land parcel at Fintech City in Chennai’s Nandambakkam. The fund has acquired the land parcel through a bid cum e-auction process conducted by the Tamil Nadu Industrial Development Corporation (TIDCO). The Tamil Nadu government, through TIDCO, has envisioned Fintech City as a world-class infrastructure hub for the financial technology industry in Chennai. “Chennai investment is the epitome of the fund strategy; wherein a clear titled land parcel supported by single window clearance for approvals at city centric location has been acquired in a transparent manner by the fund. The fund is completely aligned and will seek to benefit from TIDCO’s vision and strategy of the Fintech City,” said Chetan Shah, Head – Real Estate, Axis AMC.

Narendra Modi made headlines on Sunday as he held an umbrella for farmers during a heavy downpour while interacting with them at the India Agricultural Research Institute in New Delhi. Despite officials suggesting the event be cancelled due to the rain, the Prime Minister insisted on continuing, even offering to hold umbrellas for the farmers as they conversed. During the event, PM Modi released 109 high-yielding, climate-resilient, and biofortified crop varieties, marking a significant milestone in the country's agricultural innovation. He emphasised the growing adoption of natural farming among farmers, highlighting their conscious efforts to reduce pesticide use and their responsibility towards environmental sustainability.

New Zealand government has announced significant visa fee increases starting 1 October 2024, impacting nearly all visa categories. Immigration Minister Erica Stanford said that the changes are intended to create a more sustainable immigration system by shifting the financial burden from taxpayers to visa applicants. According to a report by ICEF Monitor, the adjustments are expected to reduce public funding requirements by more than NZ$563 million (US$338 million) over the next four years. Minister Stanford emphasized that the current immigration system has been heavily subsidized by taxpayers. “The changes we’re making are shifting the cost to those benefitting from the system. We’re ensuring it is self-funding and more efficient," she said.

Jayatri Dasgupta, Program Director, Digital Naari, PayNearby. It is paramount that the country ensure there are women influencers in small towns and villages to bring awareness, technology, financial access and gender equality to the grassroots. This is necessary to realise true inclusivity, Dasgupta says. Digital financial services provider PayNearby launched a women skilling and livelihood programme, Digital Naari, in February to give the women a self-sustainable earning opportunity. “In line with the government’s Lakhpati Didi programme, we want to enable livelihood for at least 1 million women and upgrade them into ‘Lakhpati Didis’ in the next 5 years by making them the preferred banking and digital point in their areas,” Dasgupta says.

according to the Canadian Airports Council. The next 30 are at barely 70 per cent.Driving the travel rebound is a surge along big-city routes.

Mint. While the latest rate hike may not deter Indian corporates from borrowing from Japan, further rate hikes could force them to reconsider their plans. Last week, the Bank of Japan raised its interest rate for the second time in 17 years in another step away from its long-standing ultra-loose monetary policies, setting an interest rate of 0.25%, up from 0-0.1%.

Garuda Aerospace has expanded its operations in Sri Lanka, the first as part of its Global Garuda initiative which aims to increase the company’s presence in 50 countries, its chief executive officer, Agnishwar Jayaprakash, told ET. The Chennai-based company said it chose the island nation as the local drone policies were still developing and the new government was keen to promote technology and precision in agriculture and industries, seeking to reduce dependence on tourism. «We are traditionally a precision agricultural drone company. This year, we've seen revenues touch over Rs 100 crore and we saw a lot of attention coming in from overseas for our precision agriculture drones in particular. So we felt this was the right time to start making measured and cautious steps to expanding in overseas markets,” Jayaprakash said. “Sri Lanka because of its proximity to India, its developing drone regulation and smaller market was the perfect launchpad for us before venturing into other regions.»

IRFC, Vodafone Idea, Adani Enterprises, Honasa Consumer, Siemens, Jubilant FoodWorks among others will be in focus due to various news developments and first quarter results IRFC, Vodafone Idea, NMDC, Hudco, SJVN Voltas Shares of IRFC, Vodafone Idea, NMDC, Hudco, SJVN and Voltas will be in focus as the companies will announce their first quarter results today.

Hulu is out with a new original Korean drama called “The Tyrant.” Rogue government scientists create a deadly virus to put South Korea on the same power level as the U.S. and other countries with nuclear arms. The four-part series premieres Wednesday. MTV’s long-running competition show “The Challenge” began as a spinoff of the “Real World” and “Road Rules,” and is still charging full steam ahead with season 40. Debuting Wednesday, “The Challenge 40: Battle of the Eras,” has 40 contestants from the show’s history, including mainstays Johnny Bananas and Chris “CT” Tamburello. Episodes air on MTV and will also stream on Paramount+. Guess what? Emily is still in Paris! Part 1 of the Lily Collins- led romance, workplace comedy’s fourth season drops Thursday on Netflix. And rumor has it in the new season of “Emily in Paris,” the star also visits Rome.

IPE Plus Fund, finds itself in the crosshairs of Hindenburg Research, its New Delhi-born, Singapore-based, founder and chief investment officer (CIO) Anil Ahuja finds himself in the news yet again. Ahuja was among the first to make a private equity bet on the Adani Group, while he was at 3i Infrastructure, which he joined in 2005. In 2007, 3i made the first investment from its Indian infrastructure fund, paying $227 million (Rs897 crore at the time) for an undisclosed stake in Adani Power Ltd, then a fully-owned subsidiary of flagship Adani Enterprises Ltd. According to a TOI report, with the enterprise value of Adani Power pegged at Rs 10,850 crore, 3i's equity stake in Adani Power worked out to around 8%. This was 3i’s largest transaction in India since it started investing in the country in mid-2005. It held onto the stock for over seven years. When it sold a 2% block in the company in 2014, VC Circle calculated a 25-30% loss in pound sterling (40% in dollar terms) largely on account of sharp depreciation of the Indian currency. Ahuja left 3i in 2013 and joined IPE Plus Advisors in January 2014. Read More: Madhabi Buch made disclosures, investors should read Hindenburg disclaimer: Sebi

Allied Blenders & Distillers (ABD), which owns the Officer's Choice whisky brand, is in talks with vodka giant Russian Standard and Bangkok-based Thai Beverage (ThaiBev) to market and distribute their products in India, two executives privy to the development said. The talks, if fructify, will help ABD to widen its product portfolio from largely whisky to a host of spirit segments such as vodka and scotch, while the two global companies will get an entry into the world's biggest alcohol consuming country with a strong partner which has robust distribution and manufacturing capabilities, the executives said. ThaiBev's global portfolio through its arm International Beverage includes scotch brands Old Pulteney, Speyburn, Balblair, Reid vodka, Phraya rum and Source gin. The company is owned by Thai-Chinese billionaire businessman Charoen Sirivadhanabhakdi and is listed on the Singapore Stock Exchange. Russian Standard is the largest vodka brand, owned by billionaire Roustam Tariko.