Country Financial News

Bangladesh Prime minister Sheikh Hasina earlier fled the country for an unknown location, bringing a turbulent end to the past few days' raging protests that took the country by storm. Following Hasina's flight, Bangladesh military chief Waker uz Zaman sought to calm the tension and said in a televised address that the forces would help form an interim government.

The bill to amend the Wakf Act, 1995, if it is introduced and passed, will make it mandatory for the Waqf boards to register their properties with the district collectors to ensure their actual valuation. There are 30 Waqf boards in the country. The sources on Sunday pointed out that the revenue generated by all Waqf properties is estimated at Rs 200 crore per annum. This is not in sync with the number of properties such bodies have, they said.

Wayanad disaster, but right now, the affected people battling psychological trauma require attention and sympathy, senior Congress leader Shashi Tharoor said on Monday. Tharoor was responding to Union Environment Minister Bhupender Yadav's remarks that the Kerala government allowed «illegal human habitat expansion and mining» in the state's fragile region which resulted in the devastating landslides in Wayanad district. «If there has been any illegality that certainly should not be condoned and action should be taken. On that, I think we are all in (of) the same view that illegality is not something anybody welcomes. And I am sure the committee should do a professional job and make the decisions it needs to make,» Tharoor told PTI Video.

Sheikh Hasina reportedly resigned today and left the country amid massive protests against her government. The demonstrations, which have led to the deaths of over 106 people since Sunday, were sparked by a controversial quota system. This system reserved 30 percent of government jobs for relatives of veterans who fought in Bangladesh's War of Independence in 1971. However, there has been no official confirmation regarding her resignation or departure from Dhaka. The news channel reported that Hasina was forced to quit as prime minister due to the protests. The army chief is expected to address the nation shortly, according to various reports. Amid all these reports, a video has gone viral in which a woman can be seen leaving Dhaka in a military helicopter.

anti-immigration protests have flared across England. Mosques and police officers have been attacked. In Rotherham criminals tried to set fire to a hotel they thought was housing asylum-seekers.

Stay tuned for more updatesBangladesh violence LIVE: “Representatives of main political parties were present in discussion with Army. Request students to stay calm and go back home," Bangladesh Army Chief said.Bangladesh violence LIVE: Bangladesh's army chief Waker-Uz-Zaman said he will form an interim government, reported AFP"We will form an interim government," Waker said in a broadcast to the nation on state televisionBangladesh violence LIVE: Army Chief said PM Sheikh Hasina has resigned, an interim government will run the country, reported ReutersBangladesh violence LIVE: Armed soldiers patrol deserted streets of Dhaka as a strict curfew remains in place following a day of violent clashes between security forces and protesters that claimed hundreds of lives across the country.Bangladesh violence: Bangladesh Prime Minister Sheikh Hasina has resigned and left the country, local media reports say.

While there are many ways to measure economic inequality, key metrics consistently show that disparities are getting worse. According to a recent United Nations report, 71% of the world’s population now live in countries where inequality has increased. Unsurprisingly, this includes India and China.

Sumant Sinha, chairman and managing director of Gurgaon-based ReNew, was recently appointed co-chair of the Switzerland-based Alliance of CEO Climate Leaders. This private sector collective has about 130 global chief executive officers from 26 countries representing 12 industries. Apart from ReNew, at an institutional level, there are eight other Indian companies that are part of this group.

With its population of 1.4 billion and a massive manufacturing industry, China is by far the world's largest emitter of the greenhouse gases that scientists say drive climate change and make extreme weather more frequent and intense. Until now the country had set itself climate targets based on the carbon intensity of its economic growth, meaning it set objectives to reduce its emissions per unit of wealth produced.

Edited excerpts: Across our four business segments that are India multichannel, overseas business, Globalbees (brand aggregator) and preschools, it’s a $120 billion opportunity we are chasing. So having such a large market, there will be growth levers, and which we'll talk about separately, I'll just restrict myself to profitability right now. So, on profitability, India multichannel we grew our adjusted Ebitda profitability in FY22, we were at 5.9%, we made it to 6.2% in FY23, and now, FY24, we are at 8.8%.

Delhi High Court has designated a special CBI Court to expedite the trial of India's biggest bank fraud. The Central Bureau of Investigation (CBI) has charged Dheeraj Wadhawan, Kapil Wadhawan-promoters of embattled Dewan Housing Finance Ltd (DHFL)-and several others in the alleged loan fraud of Rs 34,614 crore. The orders of the Delhi High Court designating a special CBI Judge to exclusively deal with the DHFL case were received on August 1. It is pertinent to mention that considering the gravity of the case and the enormous amount of documents filed by the CBI, number of accused and hundreds of witnesses involved, a special CBI Court had written to the High Court. In April this year, a special CBI Court had shared the information of the case with the High Court with a request to designate «one special court for doing this matter only». Special CBI Judge Ashwani Kumar Sarpal, in a judicial order passed on April 27, had highlighted the fact that the documents filed by the CBI run into over 330,000 pages and are kept in 26 trunks.

Bangladesh is on edge once again as at least 91 people, including 14 policemen, were killed and hundreds injured on Sunday in fierce clashes between protesters demanding Prime Minister Sheikh Hasina's resignation and the ruling party supporters in different parts of the country. The clashes broke out when protesters attending the non-cooperation programme under the banner of Students Against Discrimination with the one-point demand of the government's resignation faced opposition from the supporters of Hasina-led Awami League. As violence escalated, the home ministry imposed an indefinite countrywide curfew from 6 pm and blocked the use of certain social media platforms. A three-day public holiday has been announced starting Monday.

Keir Starmer said that those responsible for the disorder and chaos that's spreading across UK towns and cities will be punished for what he described as «far-right thuggery.» «Those who have participated in this violence will face the full force of the law,» he said from Downing Street on Sunday. «This is not protest, it is organised violent thuggery. And it has no place on our street or online.» Disturbances have taken place in towns and cities including Rotherham, Blackpool and Bristol over the weekend, with a number of police officers attacked and injured. The riots represent one of the biggest challenges facing the month-old Labour government, as it struggles to rein in the unrest.

government is all set to bring a Bill in Parliament to amend the 1995 law governing Waqf boards to ensure more accountability and transparency in their functioning and mandatory inclusion of women in these bodies, sources said. They claimed that the move comes in the backdrop of demands from within the Muslim community. The Bill to amend the Wakf Act, 1995, will make it mandatory for Waqf boards to register their properties with district collectors to ensure their actual valuation. There are 30 Waqf boards in the country. The sources on Sunday pointed out that the revenue generated by all Waqf properties is estimated at Rs 200 crore per annum. This is not in sync with the number of properties such bodies have, they said.

Rajya Sabha by the government to a question on the MGNREGS, TMC MP Derek O'Brien on Sunday claimed the BJP-led Centre in its response has «finally» accepted that West Bengal has been given «zero» funds under the 100-day rural employment guarantee scheme. The TMC and its Lok Sabha MP Abhishek Banerjee have been demanding a white paper on the scheme to prove what the Centre had paid to West Bengal since the BJP's loss in the 2021 state assembly polls, Rajya Sabha member O'Brien said in a post on X. «Finally! Modi govt admits inside Parliament that Bengal's been given zero for MNREGA funds,» O'Brien said in a post on X, sharing the July 26 reply that gave state and UT-wise data of the last five financial years on the number of households that have completed 100 days of employment under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). In West Bengal, the number of households that completed 100 days of wage employment was «zero» in 2023-24, according to the written reply given by Union Minister of State for Rural Development Kamlesh Paswan in the Upper House of Parliament.

Which financial assets a central bank should buy and sell is hardly a novel question. Historically, the US Federal Reserve has focused on shorter-term Treasury securities, but quantitative easing had the Fed buying mortgage securities and quality commercial paper in vast quantities. Central banks often hold gold and foreign currencies.

₹234 crore at the end of 2023-24. Transactions only picked up after RBI introduced interoperability with the UPI system. But still, the volume of e-rupee transactions remains significantly lower than UPI, debit and credit card transactions in the country, which stood at ₹149.5 trillion in 2022.

Prime Minister Narendra Modi called for the creation of an “investment-friendly charter’ during the ninth Governing Council Meeting of the Niti Aayog on 27 July. This charter will outline policies, programmes and processes to attract more investments. Despite India’s potential, foreign direct investment (FDI) data shows that the country has not fully capitalized on its opportunities.

Delays in justice deliver are among the biggest barriers in India to making it easier to do business and improving people’s ease of living. In a recent response, Union law minister Arjun Ram Meghwal informed Parliament that more than 50 million cases are pending in various courts across India, of which nearly 90% are in district and subordinate courts. This backlog not only burdens the judicial system, but also denies timely justice to millions of citizens, and the cost of it is borne not just by the economy, but by all of us.

France on Sunday called on its citizens in Lebanon to leave the country «as soon as possible» amid fears of all-out war between Israel and Hezbollah and a broader regional conflict. «In a highly volatile security context, we once again call the attention of French nationals, particularly those passing through, to the fact that direct commercial flights and ones with stopovers to France are still available, and we invite them to make their arrangements now to leave Lebanon as soon as possible,» the foreign ministry said in its travel advice notice for Lebanon.

Middle East simmers with tension and stares at the possible Israel-Iran war, the United States announced plans to bolster its military presence in the region. Now the question is — Will it be 'Abraham Alliance' vs 'Axis of resistance' battle? Three US and Israeli officials told Axios that they expect Iran to launch an attack on Israel as early as Monday. This move comes in response to threats of retaliation from Iran and its regional allies following the killings of a Hamas leader in Tehran and a Hezbollah commander in Beirut, heightening fears of a broader conflict.