Country Financial News

Mint. These reforms are being considered with the prime aim of bringing more foreign capital to the sector as only a few investors have taken advantage of the government’s decision in 2021 to increase the foreign direct investment limit in insurance companies from 49% to 74%. Earlier this year, Switzerland-based Zurich Insurance Group Ltd announcing plans to acquire a 70% stake in Kotak Mahindra General Insurance Co.

This idea of privatization in sports clubs of Argentina seeks to impose corporate investment in clubs, but also has the potential of irking dedicated fans who may stand against the decision. Currently, Argentine teams like River Plate and Boca Juniors, are co-owned jointly by their 'members.'

Team USA, brawns and brains will come together this year at the Paris Olympics, as the country's contingent boasts of rocket scientists, engineers, dieticians, which is rather uncommon when it comes to the teams being sent from other countries. The United States boasts of a holistic and overall development of its students, as well as its sportsmen, and this time, at the Paris Olympics 2024, this will be vividly visible.

South African President Cyril Ramaphosa has opened a new parliamentary term

Leaders from across Europe are gathering at an English country mansion for a summit of the European Political Community

Vegetable prices, especially potatoes, are likely to stay elevated in the near term, despite rapid progress of the monsoon, according to agricultural experts and economists. Heatwaves in several parts of the country this summer damaged crops, causing demand-supply mismatch, they say. Vegetable inflation remains a major concern for policymakers, reaching 29.3% in June, from 27.4% in May. The increase was broad-based, affecting both TOP (tomatoes, onions, potatoes) and non-TOP vegetables. «Prices of potatoes are expected to be firm for the next few months,» said an agricultural analyst, adding this year's shortage of the tuber is likely to be felt as early as October unlike the general trend of November and December.

Logistics industry is expecting steps that will further improve ease of doing business in the country, incentives and benefits for green initiatives in the sector, among others, in the Union Budget for 2024-25, which is set to be presented by the Finance Minister Nirmala Sitharaman in the Parliament next week. «There is significant scope to improve the ease of doing business by streamlining regulations and adopting digital processes. Simplifying and ensuring consistency in GST administration, greater clarity and standardisation in interpretation of customs procedures, and TDS regulations are crucial steps in this direction,» said R S Subramanian, Senior Vice President & Managing Director, DHL Express India. «I am optimistic that the Budget will prioritise infrastructure and logistics as critical levers of growth, consistent with the interim Budget,» said Rizwan Soomar, Chief Executive Officer and Managing Director, DP World North Africa and India Subcontinent.

rupee weakened against the dollar on Thursday, coming very close to its record low levels due to dollar outflows from corporates and volatility in oil prices, dealers said. The rupee closed at 83.650 against the US dollar on Thursday, versus the previous close of 83.582, LSEG data showed. The all time low of 83.6650 was on June 20

Masks are creating controversy for businesses again, but this time for a different reason. Early in the pandemic, retailers faced backlash for mandating face coverings. Now some store owners are demanding customers drop their masks.

FIFA World Cup is just two years away but fans are already feeling the excitement around it after an intense month of Euro Cup and Copa America action, that saw some of the leading footballing nations participate in these championships. Euro Cup was won by Spain this year after the beat England and dashed The Three Lions' hopes of winning a major international trophy in decades.

Shimla: The Himachal Pradesh Police has arrested one of the masterminds of a Rs 2,500-crore cryptocurrency scam, which was unearthed in the state in 2022, from Kolkata, officials said on Thursday. Accused Milan Garg (35), a resident of Meerut in Uttar Pradesh, was apprehended on Wednesday night from the Netaji Subhash Chandra Bose International Airport, Kolkata while he was trying to flee to Bangkok in Thailand, they said. Garg, who was allegedly involved in designing and marketing of a fake cryptocurrency, was later brought to Shimla, Deputy Inspector General of Police (DIG), Northern Range, Abhishek Dhullar told. Garg, who earlier fled to Dubai after the scam came to light, had returned to India in June and was again leaving the country when he was detained at Kolkata airport. The accused has been arrested and brought to Shimla, said Dhullar, who is heading an SIT probing the case.

Indian Prime Minister Narendra Modi’s high-profile visit to Moscow last week set off a firestorm of criticism in the West. But if you look beyond the hyperbole used to describe India-Russia relations, it becomes obvious that there’s less to the connection than meets the eye. As a weakened Russia grows more dependent on China, India has no choice but to draw closer to the U.S.

tyre makers such as Bridgestone, Michelin and Goodyear have committed investments worth over Rs 1,100 crore in India after the DPIIT temporarily allowed them to import certain tyres to the country, an official said. The official said that the import restrictions on 'New Pneumatic Tyres' were relaxed for certain global players that were interested in importing specific tyres from their factories abroad into India. The imports were temporarily permitted by the department for promotion of industry and internal trade (DPIIT) subject to the concerned company's commitment to invest and set up or expand its manufacturing facilities in the country for the concerned products, in a time-bound manner. «This initiative has witnessed investment commitments worth more than Rs 1,100 crore from leading global players like Bridgestone, Michelin and Goodyear for the development/expansion of their tyre manufacturing capacity in India,» the official said.

Is the classic, carefree summer vacation facing extinction? Last year was the hottest summer on record in the Northern Hemisphere—Spain, the world’s second-most-visited country, endured three heat waves in just four months. To ace a summer trip in 2024, you must do more than stay hydrated and diligently apply (and reapply) sunscreen. We asked pros how to navigate the new normal of sweltering travel.

The African Development Bank says it has approved a $1 billion loan to South Africa’s state-owned rail and ports company, Transnet

China's ruling Communist Party has ended a top-level meeting by endorsing policies aimed at building the country's technological power and fortifying its national security

An inquiry into the U.K. government's response to COVID-19 found it was ill-prepared for a pandemic and serious errors in planning failed its citizens

A key city council vote could pave the way to give the Tampa Bay Rays a new 30,000-seat ballpark as part of a $6.5 billion redevelopment project in St. Petersburg, Florida

Leaders of 18 Pacific island nations and areas have agreed to an enhanced role of Japan in the region’s development while opposing any attempted coercive activity, as Tokyo seeks greater engagement to counter China’s influence

State media say North Korean leader Kim Jong Un has visited a major tourism site being constructed on the country's eastern coast and discussed steps to open the zone by next year

In crisis-ridden Venezuela, nothing has been spared the uncertainty that plagues everyday life