Country Financial News

Two top editors at Penguin Random House are leaving as the country’s leading trading publisher continues to transform during a period of uncertain revenues and generational change

Kosovo police have closed six branches of a Serbia-licensed bank in line with the decision on the ban of the use of the Serbian dinar currency in the country

Saudi Arabia’s national airline says that it ordered more than 100 new Airbus jets, a reflection of the kingdom’s ambitious drive to lure more tourists

Indonesia’s top investment official says the government has proposed building an electric vehicle battery plant to Tesla CEO Elon Musk

The Environmental Protection Agency warns that cyberattacks against water utilities around the U.S. are becoming more frequent and more severe

Pakistan Cricket Board (PCB) is keen on roping in legendary Vivian Richards as a 'Mentor' for the national team during the upcoming World T20 Cup scheduled in the Americas. Richards has worked as a mentor for Quetta Gladiators in the Pakistan Super League since 2016 and as per PCB sources current chairman Mohsin Naqvi is keen on having a big name associated with the national team. Also with most of the Super Eights games in the Caribbean, Richards' experience of conditions could come in handy. «Sir Viv Richards has some prior media commitments for the World Cup but things are being worked out as the Pakistani players have great respect and regard for him,» the source said. He said if the deal goes through Richards will mentor the team in the World Cup a role fulfilled by former Australian opener, Matthew Hayden in the last two T20 World Cups in 2021 and 2022 where Pakistan reached the semi-final and final.

"I have not spoken a word against minorities. I am speaking against the vote bank politics of the Congress. I am speaking about the Congress working against the Constitution," PM Modi said.

Also Read: Explained: What's driving the ongoing uptrend in metal stocks? The country is experiencing a significant surge in power demand each month, driven by increased usage in both the industrial and household sectors. The above-normal temperatures witnessed across most regions during April and May have led to a surge in the use of cooling appliances such as air conditioners and desert coolers, resulting in heightened power consumption. The India Meteorological Department (IMD) has forecast above-normal maximum temperatures across the country for the summer season.

Ebrahim Raisi, in a helicopter crash on Sunday is unlikely to result in immediate changes to Iran's ruling system, which Supreme Leader Ayatollah Ali Khamenei determines. However, Raisi was widely viewed as a leading candidate to succeed the 85-year-old supreme leader. His sudden death raises the possibility that Khamenei's son could eventually assume the position.

Bitcoin has achieved all-time highs against local currencies in several countries across Asia and South America, following a significant 7% surge in its price.

NEW DELHI : Navigating the legal landscape of succession rights in India can be particularly challenging for non-resident Indians (NRIs) married to foreign nationals. Questions about the financial rights of offspring and spouses of NRIs whose marriages aren't solemnized in India often arise, creating a maze of legal intricacies. While the short answer is that there are no immediate issues, the longer answer uncovers several legal nuances.

Hemant Sood, the managing director of Findoc, is positive about the prospects of the Indian stock market. Sood says this could be a good time to enter the market and suggests buying on dips to average out the portfolio's overall performance. He adds that there is huge potential for a double-digit return this year, but this cannot be guaranteed due to overvaluation.

Rinku Singh, the middle-order player for India and Kolkata Knight Riders , stated that his goal in senior cricket is to lift a large trophy for his team with his own hands. Rinku, who is accompanying the Indian team to the ICC T20 World Cup as a reserve, will depart on June 1, is currently competing in the Indian Premier League on behalf of Kolkata Knight Riders. With four fifties and 474 runs scored at an average of 59.25 and a strike rate of 149.52 in his breakout season the previous year.

energy demand, and a move towards renewable energy sources are driving a dramatic transformation of the Indian power sector. Both domestic and foreign investors may find lucrative investment opportunities in this sector. India's power consumption is expected to almost double due to urbanization, economic growth, and rising per capita income by 2040. India's growth trajectory is attracting investments across the value chain, positioning the country as a major player in the global energy markets, in our view.

Gensol Engineering on Tuesday announced the appointment of Shilpa Urhekar as Chief Executive Officer (CEO), Solar EPC (India). Urhekar will succeed Ali Imran Naqvi, who has been nominated to oversee the growth of Gensol Engineering Ltd and its subsidiaries, the company said in a BSE filing. Before joining Gensol, Urhekar served as the Country Head (India) at Sterling and Wilson Renewable Energy Ltd (SWREL), where her tenure saw successful bidding and execution of 6 Gigawatt (GW) renewable energy projects. She managed the multi-gigawatt Solar EPC projects across India.

INDI alliance has been completely defeated in the fifth phase of the 2024 Lok Sabha elections polling which was held on Monday. PM Modi also said that India of the 21st century can't march ahead with the «sins» of the INDI alliance. Addressing a public meeting in Bihar's Champaran. PM Modi said, «In the fifth phase, the INDI alliance has been completely defeated. India of the 21st Century cannot move forward with the sins of the INDI alliance. And that is why in every election the public is strongly attacking parties like Congress and RJD. On June 4, there will be an attack on corruption, politics of appeasement, tukde tukde gang...»

SINGAPORE—For the past few years, the West has been trying to break China’s grip on minerals that are critical for defense and green technologies. Despite their efforts, Chinese companies are becoming more dominant, not less. They are expanding operations, supercharging supply and causing prices to drop.

Russia to halt its military invasion of Ukraine, China is supporting its ally as fully as it can without triggering Western sanctions. The farewell hug between the autocratic leaders of the respective nations — Chairman Xi Jinping and President Vladimir Putin — made a mockery of China's profession of being a neutral party. In his first overseas trip after commencing his fifth term in power, Putin visited China on 16-17 May. The occasion marked the 75th anniversary of diplomatic relations between the two countries, and a 7,000-word joint statement enthused that «Russian- Chinese relations stand the test of rapid changes in the world, demonstrating strength and stability, and are experiencing the best period in their history». Beijing previously declared a «no-limits strategic partnership» with Moscow, and the state visit reinforced the closeness between the two regimes. Instead of urging an end to the war, Xi embraced the Russian strongman and issued assurances of undying support. The joint statement noted the nations would «further deepen mutual military trust and cooperation». This includes expansion of military exercises, regular maritime and air patrols, and strengthening bilateral and multilateral coordination.

European Commission is set to increase Schengen visa fees from June 11, 2024. Slovenia’s Ministry of Foreign and European Affairs confirmed that while visa fees for adults will increase from €80 to €90 for adult applicants beginning, visas for children aged six to twelve will also increase, from €40 to €45. Furthermore, countries not cooperating with the readmission of their irregularly staying citizens in the EU may face visa fees rising to €135 or €180. «The European Commission adopted a decision to increase short stay Schengen visa (visa type C) fees worldwide by 12 per cent. The increase will apply worldwide as of 11 June 2024,» the Slovenian government said in a statement. The fee increase follows a review of EU visa fees in December 2023, which occurs every three years as mandated by the Schengen Visa Code. The EU cites inflation and civil servants' salaries as reasons for the hike. The last increase was in February 2020 when fees rose from €60 to €80.

Iran proclaimed five days of mourning for President Ebrahim Raisi on Monday, though the muted atmosphere revealed little of the spectacular public grief that has accompanied the deaths of other senior figures in the Islamic Republic's 45-year history. While government loyalists packed into mosques and squares to pray for Raisi and Foreign Minister Hossein Amir Abdollahian, both killed in a helicopter crash, most shops remained open and the authorities made little effort to interrupt ordinary life.

Ebrahim Raisi who died in a helicopter crash. Prime Minister Narendra Modi on Tuesday will interact with more than 25,000 women at a conference to be organized at the Sampurnanand Sanskrit University in Kashi aiming to appreciate the efforts of all women who played a vital role in PM Modi's roadshow. In the evening, a 'Nari Shakti Samvaad' focusing on women empowerment will be hosted at Sampurnanand Sanskrit Vishwavidyalaya to honour all women who played a vital role in PM Modi's roadshow.