Country Financial News

Chinese automaker BYD has launched its first pickup truck, debuting a luxury plug-in hybrid in Mexico to compete with global rivals in China’s second-largest market for auto exports. Warren Buffett-backed BYD, the world’s biggest maker of electric vehicles, said Tuesday that it would sell the midsize Shark at prices starting at 899,980 Mexico pesos ($53,407) for its GL model and MXN969,800 for its upscale GS version. BYD didn’t specify when deliveries would begin or say whether it had begun taking orders.

₹43.5 trillion for building infrastructure in the last 10 years, which boosted the economy through a multiplier effect, while lowering logistics cost for businesses, finance minister Nirmala Sitharaman said on Wednesday. The minister said in a social media post that better road connectivity attracts investments and boosts local businesses by improving market access and reducing logistics costs.

₹15 lakhs and where that 2 crore employment opportunities are. What kind of guarantee was that? Chinese..." Earlier today, Shah, told news agency ANI, "I called it 'Chinese guarantee' on the basis of their durability...Those guarantees hold no meaning. They say that during elections and then forget about it." “I called it 'Chinese guarantee' on the basis of their durability...I was in Telangana recently.

India is considering formulating standard operating procedures (SOP) for negotiating free trade agreements (FTAs) as the country is engaging with several trade partners for such pacts, an official said. To discuss the various aspects of these agreements, the commerce ministry is organising a two-day 'Chintan Shivir' on FTA strategy and SOPs for trade negotiations. Former commerce secretaries, industry experts and government officials would participate in the deliberations on May 16-17 at Neemrana, Rajasthan. Various issues that would come up for deliberations include India's trade strategy and vision 2047; economic assessment and modelling of FTAs; inclusion of new disciplines into FTAs such as labour, environment, gender, indigenous people; services and digital trade; SOPs for FTA negotiations; and industry experience on utilisation of the FTAs.

Robert Fico, the Slovakia's Prime Minister, was reportedly recuperating from life-threatening injuries after he was shot multiple times in an "assassination attempt", as claimed by nation's government officials and condemned by European leaders.

Crude prices slid about 1% to an 11-week low on Wednesday after data from the International Energy Agency (IEA) showed oil demand in developed countries likely would flag this year. Brent futures fell 62 cents, or 0.8%, to $81.76 a barrel by 10:59 a.m. EDT (1459 GMT), while U.S. West Texas Intermediate (WTI) crude fell 60 cents, or 0.8%, to $77.42. That pushed both crude benchmarks into technically oversold territory and put both on track for their lowest closes since Feb. 23.

India's monsoon rains, essential for the country's economy, are expected to hit the Kerala coast in the southwest on May 31, IMD said in a statement. «This year, the southwest monsoon is likely to set in over Kerala on May 31 with a model error of ± 4 days,» said the weather agency in a statement. «Advance of the southwest monsoon over Indian main land is marked by monsoon onset over Kerala and is an important indicator characterizing the transition from hot and dry season to a rainy season. As the monsoon progresses northward, relief from scorching summer temperatures is experienced over the areas,» added IMD in the statement.

Click here to read more The Supreme Court of India on Wednesday ordered release of NewsClick founder and editor Prabir Purkayastha in UAPA case after holding that his arrest and remand were “illegal". It is alleged that the news portal received foreign funds in violation of the FCRA case. Click here to read more After Delhi, Gujarat and Jaipur, schools in Uttar Pradesh's Kanpur, on Wednesday, received bomb threats via emails, creating a panic situation.

Gauri Shankar Nagabhushanam is the Chief Executive Officer, designate CapitaLand India Trust (CLINT), with effect from 16 May 2024. He will assume the position of the Chief Executive Officer of CLINT around August 2024. Gauri is responsible for driving the growth of CLINT, Asia’s first India-focused property trust listed in Singapore. Prior to this appointment, Gauri was Chief Executive Officer, India Business Park at CapitaLand Investment, where he was responsible for growing the company’s business parks portfolio in India. This includes investments, development, operations, asset management, and strategic planning for business parks in the country.

Congress wanted to allocate 15 per cent of the budget for Muslims. «The Congress government had openly said that Muslims have the first right on the country's resources. I was present in the meeting in which (former PM) Dr Manmohan Singh said this and I had raised my objection. Congress and its allies even wanted to allocate separate budgets for Hindus and Muslims. Congress wanted to allocate 15 per cent of the budget for Muslims,» said PM Modi. While addressing a rally in India's financial captial, the Prime Minister alleged that he was exposing the Congress and INDI alliance's plans to divide people on the basis of religion, and to him the country's unity was more important than his own image.

Piyush Goyal, contesting a Lok Sabha election for the first time, asserted on Wednesday that he will surely win — but almost entirely because of the work done by Prime Minister Narendra Modi, adding that this election will determine the fate of India. «I recognise that we are all subsumed under Mr Modi's performance… It is gradually dawning on people that this is Modi's election,» Goyal told PTI during a road show — a slow crawling journey atop a decked up pickup truck that wound its way through a ward of Borivali in the Mumbai North constituency. Goyal, a Rajya Sabha member and a veteran manager of many an election campaign, including that of Lal Krishna Advani in 1989, replaced incumbent Gopal Shetty as BJP's candidate for the constituency. The elections are due on May 20. With four days left for campaigning, which ends on the evening of May 18, Goyal is crisscrossing all the assembly segments of the constituency every day in his truck in a set pattern: every morning, a few hundred party workers wearing orange caps, BJP scarves hanging down their shoulders and lotus sticker on their clothing, gather at the starting point of the road show.

In recent times, India has witnessed a significant surge in gold rates. As of April 19, 2024, the price of gold stood at ₹6,765 per gram for 22 karat and ₹7,380 per gram for 24 karat. This increase in gold prices has a direct impact on the borrowing habits of individuals, especially in a country like India where gold is not just a precious metal but also a cultural symbol of wealth and security.

DSP Mutual Fund on May 15 announced the launch of DSP Nifty Bank Index Fund, an open-ended scheme tracking Nifty Bank Index. The fund will offer an opportunity to invest in banking stocks at reasonable valuations.

The Lok Sabha Elections are underway, and with the poll results scheduled for June 4, discussions and speculations have already begun regarding the reforms and major pending works the new government will undertake. One of the major pending tasks in this regard is the implementation of the Direct Tax Code (DTC), which has been overdue for a long time.

claim settlement within the prescribed time limits, Employees Provident Fund Organisation (EPFO) has come up with an arrangement wherein 19 regional offices are linked to 36 collaborating regional offices. The EPFO stated in a circular dated May 8, 2024 that the periodicity in offices across the country was discussed and deliberated in the zonal review conference chaired by the CPFC (Central Provident Fund Commissioner).

Read more: Why regulatory restraints are not enough to contain retail trading in F&O Another prevalent channel through which people buy mutual funds is banking. Many people—especially the older generation—happen to buy MFs through banks as they’re easy targets for the banks. Bank employees generally need to meet their sales targets and guiding investors is usually not their forte once the sales are done.

Baghel took to X, formerly known as Twitter, to share a video clip of himself making the statement before a group of people. The Congress is part of the Opposition's INDIA bloc, which has not yet declared its prime minister candidate. This has prompted speculation that Rahul Gandhi is the coalition's candidate for the post of prime minister.

defence capabilities over the past decade under the leadership of Prime Minister Narendra Modi's government, according to NITI Aayog member VK Saraswat. Speaking to PTI, Saraswat, a former chief of the Defence Research & Development Organisation (DRDO), highlighted that the country now relies on arms imports only for immediate military needs. Strengthened Indigenous Defence Manufacturing Saraswat noted that currently, 60% of India's arms and ammunition are domestically produced, reflecting a substantial increase in indigenous manufacturing. He mentioned that major corporate entities like the Adani Group, Tata Group, and L&T are now manufacturing radar systems and guns within the country, further bolstering India's self-reliance in defence production.

Mumbai-based FA Airlines is set to acquire regional carrier FlyBig, according to sources. FlyBig has four planes in its fleet. Incorporated in 2022, FA Airlines is focused on the aviation sector. The sources said an initial pact has been signed between the two entities for the deal. Once the transaction is complete, FlyBig's fleet will be expanded by more than 20 aircraft, they added.

Japan and the United States are planning to develop interceptors to shoot down hypersonic missiles by the 2030s under a contract signed by the two countries on Wednesday. The plan, which will reportedly cost more than $3 billion, was first announced in August when the nations' leaders met at a summit with South Korea in Camp David outside Washington. «In recent years, around Japan, missile-related technologies such as hypersonic weapons have improved dramatically,» the defence ministry said in a statement about the agreement to jointly develop the so-called Glide Phase Interceptor (GPI).

international student numbers or some universities may collapse, a government commissioned report said on Tuesday, after foreign registrations plummeted for next year. High levels of legal migration have long dominated Britain's political discourse and were one of the major drivers for the Brexit referendum in 2016. Are you immigration ready? Find out Along with care staff and low salaried workers, the government of Prime Minister Rishi Sunak has sought to reduce the number of students coming to Britain, including preventing some post-graduate students from bringing family members.