Country Financial News
25.05 / 07:41
Dash
Election
track
country
social
reports
‘Modi ki Guarantee’: BJP to pull off massive win in Lok Sabha 2024 Elections; Yogendra Yadav predicts
BJP) will pull off another general election triumph, dashing the Congress party's hope for an electoral revival, as per The Hindustan Times.However, according to Yadav, the Congress party will have a silver lining in the ongoing Lok Sabha elections—its seat tally may cross 100, the report added.Kishor, receiving flak on social media for his prediction in favour of the Bharatiya Janata Party, backed Yadav's seat forecast. He said according to Yadav, the BJP will win between 240-260 seats and its allies 34-45 seats – which means the NDA's total may hover between 275 and 305 seats, as per the report.“A trusted face among those who understand elections and socio-political issues in the country, Yogendra Yadav has shared his 'final assessment' of the 2024 Lok Sabha elections.
25.05 / 05:15
Provident
Food
community
Myanmar
Refugees
country
International
Nearly 1,390 Myanmar refugees enter Mizoram amid renewed clashes
refugees from Myanmar have entered Mizoram in the past few days following renewed clashes between the army and civil militia groups in the neighbouring country in Southeast Asia, an official said.
25.05 / 05:15
UPS
Election
President
country
Lok Sabha polls: Congress' Rahul and Sonia Gandhi cast their votes in Delhi
Congress Parliamentary Party Chairperson Sonia Gandhi and party MP Rahul Gandhi cast their votes in the sixth phase of the general elections.
25.05 / 05:15
UPS
Provident
Trade
War
stage
country
reports
Why reforming the WTO dispute settlement mechanism is imperative
WTO at Abu Dhabi renewed the commitment to have a full and well-functioning dispute settlement mechanism (DSM) by 2024, it is yet to be seen if this happens as proposed. A rules-based multilateral trading system like the WTO can work effectively only when there is a robust mechanism in place to resolve disputes that arise among member nations. The DSM has been a key pillar of WTO as it provides a legal framework for resolving trade disputes that arise between member nations of the WTO, thereby lending certainty and predictability to the trading system.
25.05 / 05:15
markets
COST
UPS
economy
show
country
Rate Cut
Asian markets fall after US data dent rate cut hopes
Wall Street sparked by a string of better-than-expected US data that added to worries the Federal Reserve will hold off on cutting interest rates this year. A weeks-long rally in equities has petered out in the past few days on profit-taking and as central bank officials pushed back against bets on an early reduction.
25.05 / 04:53
COST
UPS
Citi
Trade
country
Gold and silver prices today on 25-05-2024: Check latest rates in your city
gold in the last one week has been -0.26%. Whereas in the last month it has been -1.54%.The cost of silver is Rs.89850.0 per kg down by Rs.390.0 per kg. Gold Price Today in Delhi is ₹73685.0/10 grams.
25.05 / 04:37
Action
Election
stage
country
stars
Updates
Congress & AAP - Bitter rivals turned allies hoping to unseat Modi in Delhi
opposition parties are hailing their alliance in India’s capital Delhi, and hoping they can deny Prime Minister Narendra Modi’s and his party a third consecutive clean sweep of the region in the ongoing elections.
25.05 / 04:05
Election
President
show
country
rights
Updates
cricket
Lok Sabha Elections Phase 6: President Murmu, Jaishankar, and others among early voters in Delhi
Jaishankar, Hardeep Singh Puri, Atishi, Bansuri Swaraj, Harsh Malhotra, and others, cast their votes in Delhi. Besides these, Delhi Police Commissioner Sanjay Arora and former India Cricketer Gautam Gambhir also voted today.President Droupadi Murmu showed her inked finger after casting her vote for general elections 2024 at a polling booth in Delhi today.After casting a vote at a polling booth in the national capital, Jaishankar showed his inked finger and said, “We have just cast our vote, and I was the first male voter in this booth.
25.05 / 04:05
Target
Reuters
Digital
Align
Trade
country
Interviews
‘India and China hindering ‘Pillar 1’ tax deal,’ says US Treasury's Janet Yellen
Janet Yellen stated on Friday that she is working to save a component of the global corporate tax agreement targeting highly profitable multinational corporations, and added that “India is refusing to engage on issues important to US interests".Yellen told Reuters in an interview on the sidelines of a G7 finance leaders meeting in Italy that China also has been “all but absent" in the negotiations to finalize “Pillar 1" of the OECD corporate tax deal reached in principle in 2021 that involves 140 countries."We are actively engaged in this negotiation," to meet an end-June deadline for the deal, Yellen told Reuters. “We're committed to doing everything we possibly can to make it work."Also Read: Yellen ‘Feeling Good’ About G-7 Alignment on Russian AssetsEarlier on Friday, Italian Finance Minister Giancarlo Giorgetti told reporters that the Pillar 1 negotiations were set to fail, citing objections from the U.S., India and China.The Pillar 1 negotiations primarily focus on redistributing the taxing authority concerning US-based digital giants, potentially enabling around $200 billion of corporate profits to be taxed in the nations where these companies operate.In addition to Pillar 1, the tax deal includes a second pillar involving the implementation of a 15% global minimum tax on corporate profits, which many countries are independently adopting.
25.05 / 03:57
25.05 / 02:59
Reuters
Digital
Trade
country
reports
rights
Interviews
Yellen says India and China hindering 'Pillar 1' tax deal
U.S. Treasury Secretary Janet Yellen said on Friday she is trying to save a part of the global corporate tax deal focused on highly profitable multinational firms, but India is refusing to engage on issues important to U.S. interests.
25.05 / 02:59
security
Remark
BURST
Election
country
Courts
During Cong-SP rule, day began with news of scams, ended with terror blasts: Adityanath
Uttar Pradesh Chief Minister Yogi Adityanath on Friday said when the country was ruled by the Congress and state by the Samajwadi Party, one's day would begin with news about corruption cases and end with that of terrorist blasts. The chief minister's remark came during a public meeting at Pipraich in Gorakhpur parliamentary constituency where he was seeking votes for BJP candidate and sitting MP Ravi Kishan Shukla.
25.05 / 02:05
markets
Provident
Digital
CEO
Software
country
innovations
India may outpace Nutanix’s global growth metrics: CEO
Nutanix sees its India growth rate outpacing its projected global metrics for Annual Recurring Revenue (ARR) and profitability, CEO Rajiv Ramaswami told ET in an exclusive interaction on the sidelines of the company's annual .NEXT conference being held here.
25.05 / 02:05
Provident
Election
WhatsApp
wellness
country
Updates
"Democracy thrives when people are engaged" says PM Modi, urges voters to come out and vote in large numbers
elections got underway at 7 am on Saturday, Prime Minister Narendra Modi urged voters to come out in large numbers and exercise their franchise.
25.05 / 00:59
markets
COST
Provident
country
guidelines
rights
SBI jumps the gun, sets out to make infra loans costlier
State Bank of India (SBI), the country's largest lender, has kicked off the new project funding regime with a loan clause that enables it to transfer to the borrower any increase in cost resulting from implementation of proposed tighter provisioning regulations, even as the industry is lobbying against the move, people with knowledge of the matter told ET. A new clause in the lender's loan document explicitly states that for any regulatory change that requires SBI to make higher provisions, the bank will pass on the cost to the borrower. This would give the bank the right to raise rates even after sanctioning a loan at a particular interest rate. Early May, the Reserve Bank of India (RBI) issued comprehensive draft guidelines on financing and accounting of project loans. It proposed that banks set aside 5% as provisions on infrastructure and commercial real estate that are under construction, and this provision will come down gradually after the project is operational.
25.05 / 00:59
Hollywood
Entertainment
film
Actor
shooting
country
Bollywood back in Russia: After a long break, more Indian films being screened & shot in the country
Indian films and were floored by Raj Kapoor, Mithun Chakraborty, Hema Malini and Shah Rukh Khan years ago. Now, after a gap of about three decades, industry players and authorities are working to reignite the old cultural affiliation through Indian films by increasing film shoots and screenings of Indian films in Russia. Film production and distribution companies and government officials in Russia are looking to attract Indian filmmakers and films now that Hollywood films are absent in Russia following the Russia-Ukraine conflict. Sarfaraz Alam Safu, who runs Kartina Entertainment, a line production company for Indian films in Russia and CIS countries, said Indian filmmakers are showing increasing interest and parts of some recent films including Sardar Udham, Pathan, Tiger, and Jugjugg Jeeyo were shot there.
25.05 / 00:59
markets
Digital
Mobile
Apple
country
electronic
reports
NOT
Apple not the only company to grapple with cash payments in India; cash also figures prominently in car sales
Apple faced an unanticipated challenge soon after it opened two company-owned stores in India last April — many customers wanting to pay in cash — prompting the iPhone maker to install currency note counting machines in both the Mumbai and Delhi outlets. With customers continuing to stream in with wads of notes to buy mobile phones or computers, payments for 7-9% of the American firm's sales in the two stores in India are made with cash, compared to less than 1% or even nil in its stores in the US or Europe, according to people with knowledge of the matter. Unsurprisingly then, social question-and-answer website Quora is full of queries from consumers on whether they can pay in cash at Apple stores in India, they said.
24.05 / 19:03
UPS
Action
Election
country
Courts
Investigations
MEA show-cause notice to Prajwal Revanna in sexual abuse case
Ministry of External Affairs has served a show-cause notice to suspended JDS MP Prajwal Revanna asking why his diplomatic passport should not be cancelled in view of allegations of sexual abuse against him. The MEA is awaiting his response before deciding on the next course of action, sources told ET. The show-cause notice, served through email, is part of the process initiated to cancel Prajwal's passport. The case is being dealt under the provisions of the Passports Act of 1967. The MP from Hassan left India on April 27, a day after voting for the Lok Sabha elections took place in his constituency. If his passport is cancelled, then Prajwal's stay abroad will be illegal and he may face legal action in the country of stay, sources said.
24.05 / 19:03
markets
Trade
show
country
reports
inequality
No vote-bank threat, less capital-flight risk from wealth tax: Nitin Kumar Bharti
vote-bank threat if a tax is imposed on the assets of the wealthy, as it will not impact 99.96% of the population, says Nitin Kumar Bharti, the lead author of a recent World Inequality Lab report that suggests imposition of a wealth tax to correct inequalities in India. Studies also show that such a tax causes little capital flight, he tells ET. Edited excerpts: India's past experiments on wealth tax haven't worked; why do you think this could? Wealth tax hasn't worked for several reasons — limited purview, easier evasion and, most importantly, lack of a strong government will. Today, evasion is less of a concern due to technological advancements, such as Aadhaar linkage and computerisation of land records and stock market trading. We propose to tax overall net wealth, not keeping any asset out of the purview. But haven't wealth taxes failed in developed countries as well? The narrative is changing now, and there is more debate about bringing back the repealed wealth taxes to tame the rising wealth inequality.
24.05 / 19:03
Citizens
Progressive
Election
WhatsApp
Actor
country
Congress will defuse nuclear weapons if elected: PM Narendra Modi
Modi alleged on Friday that Congress has reached a level of craziness where it intends to terminate India's nuclear weapons if it comes to power, restore Article 370 that gave special status to Jammu and Kashmir, and annul Citizenship Amendment Act. At an election rally in Mandi, he also attacked those who had used unsavory language against BJP candidate and actor Kangana Ranaut during the campaign. «You have seen Congress rule for decades. Congress likes a Bharat which is poor, citizens are surrounded by problems… Hence, it wants to bring back the old situation in the country. It wants to put reverse gear in the country's progress. Hence, Congress is saying if it comes to power, it will bring back Article 370 and annul CAA… It has reached a level of craziness where it is saying it will terminate India's nuclear weapons. They are making these announcements in their election campaign,» Modi said. The prime minister further charged Congress with being staunchly communal and practices appeasement politics for vote bank.
24.05 / 19:03
Progressive
Manufacturing
security
economy
WhatsApp
country
Courts
India's progress would have been faster, if borders were more secure, says NSA Doval
security advisor Ajit Doval on Friday said India would have progressed at a much faster pace if its borders had been more secure, defined and not in «adversarial dispossession» while underlining that the country's power has grown immensely in last 10 years. Delivering the Rustamji Memorial Lecture organised by the BSF on its 21st investiture ceremony, he said, «In the foreseeable future, I don't think our borders are going to be as secure as we will require for our fast economic growth. So, the responsibility on border guarding forces has become very, very heavy. They have got to remain on alert 24X7 in perpetuity. They have got to see that our national interests and country are protected.» Borders are important because that is the limit which «defines our sovereignty», he said. «Zameen par jo kabza hai wo apna hai, baaki to sab adalat aur kachehri ka kaam hai, us se fark nahi padta (The land which is in our possession is ours, the rest is the matter of courts and that is immaterial),» Doval said. He said the government has paid «very, very high attention» to border security during the past 10 years, a period in which «our comprehensive national power has grown immensely».
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