Country Financial News

India and the UAE in a key defence meeting have deliberated on the regional security situation, including maritime security, and underscored the need to «enhance collaboration» to tackle security challenges. During the 12th edition of the Joint Defence Cooperation Committee (JDCC) meeting between India and the UAE held in Abu Dhabi on Tuesday, the two sides also discussed a wide range of opportunities for collaboration to further strengthen defence and security cooperation, the defence ministry said in a statement here. «During the meeting, the two sides discussed a wide range of opportunities for collaboration to further strengthen defence and security cooperation between the two countries,» it said. Detailed discussions were held in areas such as training, joint military exercises, defence industrial cooperation, subject matter expert exchange and research and development.

Budget 2024: Looking to fast-track hydropower capacity creation, the upcoming budget could unveil funding support to north-eastern states for purchasing equity in hydropower projects, said people familiar with the matter. The Centre could support equity participation by state governments in hydropower projects in the northeast at 24% of the total project equity, subject to a cap of Rs 750 crore per project initially, they said. “A new scheme focused on northeast is under consideration,” said one of the persons, who did not wish to be identified, adding the move was part of the government’s clean energy focus. North-eastern states that wish to have a joint venture for such projects are likely to be given financial assistance for their stake, said another person.

ONGC Videsh Ltd (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp. (ONGC), is raising $800 million through a five-year loan from three domestic banks, people familiar with the matter said. The loan is likely to be priced at 120 basis points above the three-month international benchmark Secured Overnight Financing Rate (SOFR), the people said. «Three banks, state-owned Bank of Baroda (BoB), private sector Axis Bank and Singapore-based DBS Bank are the mandated lead arrangers for this loan which is now being syndicated to other banks. Bankers will go on a roadshow to Singapore and Taipei later this month to broaden the scope of lenders in this deal,» said one of the persons cited above.

Mint. Bhargava said incentivizing EVs is good, but only incentivizing EVs alone will slow down our “national carbon reduction goals".He added that the dominance of petrol and diesel vehicles has to be reduced in favour of vehicles with alternative fuels which offer lower emissions. He expressed that the Uttar Pradesh government's directive to waive road tax on hybrid cars would negatively impact the sales of petrol and diesel cars.

OTTAWA — Canada’s banking regulator says it has delayed by a year a rule change established by international banking standards.

China and Bangladesh are reaffirming their ties during a visit by Bangladesh Prime Minister Sheikh Hasina to Beijing as tensions rise in the region over territorial disputes and resources

Arthur “Big Boy” Crudup helped invent rock ‘n’ roll

Taylor Morrison CEO Sheryl Palmer discusses the headwinds facing the housing market after a drop in August on existing home sales on 'The Claman Countdown.'

20-over World Cup and with the younger generation starting to take the baton, the BCCI may not see Kohli as a long-term prospect.A BCCI source while speaking to Hindustan Times said, “There is enough time for the two to have conversations over the table. But it was important for the BCCI to look at the big picture with many youngsters likely to feature in the coming years,"Despite a relatively strained on-field relationship, Kohli and Gambhir have both spoken publicly about the matter this year.

₹200 a pop (well, it was the 1990s, things were a lot cheaper then.) Very soon, students started walking out one by one simply because they had only prepared for the questions that had been leaked and no more. On top of that it was a difficult paper—not of a kind where one could just vomit what one had mugged up, which is how most school and college exams were back then. After the exam was over, the explanation offered was that the administrators had come to know that the paper had been leaked and so had changed it to the backup question paper, which apparently had also been prepared and printed.

The Czech brewer Budvar, which has been embroiled in a long legal dispute with U.S. beer giant Anheuser-Busch over the use of the Budweiser brand, says it increased its net profit, output and exports in 2023

₹59,931 crore worth of new projects across the country during the quarter, the lowest in over a decade and down 92% year-on-year, showed the latest data from the project-tracking database of the Centre for Monitoring Indian Economy (CMIE). The data is provisional and can be updated later. Private companies continued to lead new investments in the June quarter, but they, too, fell below ₹1 trillion for the first time since the June quarter of 2020, which saw a hit due to the covid-led nationwide lockdown.

India's fuel consumption rose by 2.6% year-on-year to 19.99 million metric tons in June from a year earlier, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Monday. India is the world's third-biggest oil importer and consumer. The data is a proxy for the country's oil demand. Prashant Vasisht, vice president and co-head, corporate ratings at India Credit Rating Agency (ICRA), said there had been solid economic growth in India, «and there was a lot of tourist activity this year as compared to last year. Jet fuel has been gradually improving… In the power sector the power supplies were more regular, leading to the farming and agricultural sector being well supplied and that has also led to less dependence on diesel.»

In the presence of Professor Rahul Singh, a leading researcher at the India Office of Charitable Affairs, the two parties signed the "Regional Cooperation Memorandum." Ravi Sharma revealed that the World Children’s Fund has forged beneficial partnerships and collaborative projects with various IYDF branches across several countries in the Asia-Pacific region. The Indian WCF enthusiastically endorses and supports the array of humanitarian aid initiatives that IYDF has lined up for India this year.

Iran's president-elect Masoud Pezeshkian said he looks forward to improved relations with European nations, even though he accused them of reneging on commitments to mitigate the impact of US sanctions. Pezeshkian on July 6 won a runoff election against ultraconservative Saeed Jalili. The 69-year-old has called for «constructive relations» with Western countries to «get Iran out of its isolation», and favours reviving the 2015 nuclear deal between Iran and global powers.

banks may face modest earnings growth in the fiscal first quarter squeezed by pressures on net interest margin (NIM) mainly due to higher deposit costs. While compressed NIM can hurt profitability, this will be partially offset by loan growth outpacing deposit growth, and robust treasury earnings helped by lower bond yields and a rallying equity market for most lenders, analysts said.

China is the world’s largest textile producer and consumer, throwing away 26 million tons of clothes each year, mostly made of unrecyclable synthetics

Android phone users. The Trojan Medusa is back after a year and is now even more dangerous. The malware had in 2020 affected the Turkish business establishments first. It has now expanded to other countries in Europe as well as the US. In 2022, many European countries were affected by this. This evolving virus also indicates that cyber security cannot be ignored and one will have to take precautions for ensuring a safe cyber space. It has affected many devices and there have been many loses sustained by the Android users.

Mint, Alstom chief executive Henri Poupart-Lafarge detailed the company's plans to scale up domestic operations and promote the 'Make in India' initiative globally. This will soon include exporting electric locomotives made at its joint venture facility in Madhepura, Bihar. The goal is to boost both domestic and export revenues in India to over 1 billion euros (approx ₹xxx crore).

Briefing occurred Tuesday in Renton, Washington, detailing «defect» from supplier.

Mallikarjun Kharge criticized the central government, claiming that the BJP-RSS administration has promoted an "education mafia" by taking control of the entire education system. Kharge also reiterated the demand for a re-examination of the NEET-UG. On 'X', Kharge wrote, «The Modi Government has told the honorable Supreme Court that no paper has been leaked in NEET-UG! This blatant lie is being told to lakhs of youth. Their future is being ruined. The Ministry of Education has said that 'irregularities/cheating have taken place only in a few places.' This is misleading. The BJP-RSS has promoted the education mafia by taking control of the entire education system.»