Country Financial News

The divergence in interest rates between Canada and the United States became a hot topic and a percolating worry for economists when it looked like the Bank of Canada would feast on cuts while the U.S. Federal Reserve sat pat.

U.S. Senator Bob Menendez (Dem), known for his vocal criticism of crypto, has been found guilty of accepting bribes in exchange for leveraging his political influence.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. The vision to be ‘Viksit Bharat’ by 2047 can become reality only when we closely monitor progress towards our development targets and can prove at the end that we successfully met them. This rests on the institutional capacity to measure defined indicators and present them in an unbiased manner.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. Every incoming government faces massive expectations. This time is arguably greater given the ambitious agenda of becoming a developed economy by 2047.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. To be a catalyst for India’s ambition of becoming one of the top three global economies by 2050, the manufacturing sector must adopt a sustainable and inclusive model that decouples growth from emissions for a developing economy of this scale. This will lower our total cost of societal development.

A 24-year Japanese model and four of her young compatriots, who want to undergo sterilization surgeries, recently filed a lawsuit at a Tokyo court to challenge Japan’s Maternal Protection Act of 1996, which deprives them of the opportunity to do so and thus violates their constitutional right to equality and self-determination. The petitioners’ lawyer argued that the Act smacks of “excessive paternalism" in assuming that “a woman’s body is destined to become a mother," denying them the right to “live a life of their choice." This Japanese law, a revised version of its earlier Eugenics Protection Law of 1948, has stringent pre-conditions for a woman to undergo a sterilization surgery.

Vivek Ramaswamy speaking at the Republican Party's National Convention promised illegal immigrants will be 'returned' to the country of their origin. «Our message to illegal immigrants is also this; we will return you to your country of origin. Not because you're all bad people, but because you broke the law and the United States of America was founded on the rule of law» the 38-year-old who dropped out of the presidential race earlier this year. He was addressing the Republican National Convention in Milwaukee, Wisconsin on Tuesday night.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. It is now proven beyond doubt that India needs a new imagination of how to govern her cities. The last decade finally saw the emergence of the city as a political agenda and a significant increase in investments in urban infrastructure and services. But the narrowly focused, mission- and scheme-led development of our cities across both the Union and state governments is not delivering the desired results.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. For two decades, India has doubled down on the policy prescription of providing financial ‘last-mile access’ to its rural and poor citizens. Has the effort succeeded? It depends on who you ask. Financial institutions have expanded manifold their credit volumes to poor households in the last decade, and still the business remains so profitable that the sector continues to attract new entrants.

NEW DELHI : Rakesh Bharti Mittal, vice-chairman of Bharti Enterprises Ltd, called for simplifying tax regimes for companies and individuals in the Union Budget 2024-25. In an interaction with Mint, he also sought financial support for micro, small and medium enterprises (MSMEs) and the healthcare sector in the budget to be presented to 23 July. He said the industry would be looking for a meaningful road map to advance the country towards becoming a developed nation by 2047 in the budget.

₹50,000 crore till then. That said, the upcoming budget is likely to include substantial measures to bolster the country's data centre ecosystem, underscoring the government's commitment to advancing digital infrastructure here.

Coal: The challenge in weaning away from coal for power generation (accounts for 75% generation, 50% carbon emission) lies in developing round-the-clock (RTC) alternate supplies at affordable prices. While solar tariffs are competitive, for the short to medium term, the complementing low-carbon capacities for RTC supplies are currently expensive (battery), or risk laden (hydel resources). The supply security in meeting the rising demand is equally important.

NEW DELHI : With the taxman coming under fire for filing late appeals, experts say there is an urgent need for a strong tax dispute resolution mechanism to simplify litigation and ensure timely closure of the cases. On 10 July, Chief Justice of India D.Y. Chandrachud rejected the income tax department's appeal against a Delhi high court order in favour of Xerox India because the plea was filed 215 days late.

solar power generation. While the cost of photovoltaic cells has come down dramatically, electricity generation is limited to the period when the sun shines. In a year, this works out to around 18-20% utilization of the panels, compared to 80% for a coal-fired plant.

Sri Lanka U-19 cricket captain Dhammika Niroshana was shot dead on Tuesday night near his home in Ambalangoda. Local media reported that Niroshana was with his wife and two children when an unidentified person opened fire. The 41-year-old ex-cricketer was attacked by an unidentified individual using a 12-bore firearm. The police suspect the killing is related to an underworld gang rivalry. Sri Lanka police are actively investigating the incident. Police media spokesperson Nihal Thalduwa stated, “Investigations are underway to arrest the suspect involved in the shooting which seemed to be a result of a gang rivalry.” Niroshana had returned to Sri Lanka three months ago after fleeing the country following the murder of his close friend, Dasun Manawadu, in the same area.

Indian CAPF and special commando force dogs are in France to provide a counter-terrorist and anti-sabotage security cover to various venues of the Paris Olympics slated to open next week, official sources said on Wednesday. The ten Indian K9 (canine) teams will undertake sniffing and patrolling duties at various venues that will hold events for the Paris Olympics. They have been given a special 10-week training for this first-ever kind of collaboration of canine squads between the Indian and the French government, a security officer told PTI. The teams along with their handlers are drawn from the central armed police forces (CAPFs) like the Central Reserve Police Force (CRPF), Sashastra Seema Bal (SSB), Indo-Tibetan Border Police (ITBP) force apart from the elite federal contingency commando force National Security Guard (NSG) and the Assam Rifles.

President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords

Open Society Foundations revealed Tuesday its first new commitment after a years-long internal reorganization, pledging $400 million over eight years to support green economic development

Bolivia’s embattled president has announced the discovery of vast natural gas reserves just north of the capital, describing it as the biggest find in nearly two decades that could help the cash-strapped country reverse its falling production

The head of upcoming climate negotiations is telling world leaders that a new financial aid package for poor and disaster-struck nations is the urgent and make-or-break goal of United Nations talks this fall

Indonesia has been building out a vast industry for nickel metal, traditionally used in making stainless steel but increasingly for batteries for electric cars and clean electricity projects