Country Financial News
06.05 / 15:55
markets
Citi
CEO
trends
country
reports
Destinations
China's gold consumption rose 6% in first quarter this year; what is driving the rally?
Gold rate today jumps after disappointing US non-farm payroll data, slide in US dollar rate, Xi Jinping's Europe trip According reports, Chinese consumers have increasingly turned to gold amid waning confidence in conventional investment avenues such as real estate or stocks. Concurrently, the nation's central bank has consistently bolstered its gold reserves while reducing its holdings of U.S. debt.
06.05 / 15:55
markets
Digital
CEO
Platform
Sustainability
wellness
country
Financial
Tata Projects Announces Financial Results for FY 2024
The pre-owned category on the platform is a strategic focus. In its continuous effort to make unique and rare pre-owned pieces easily available to people across the country, the platform will be onboarding various partners to offer products across categories.
06.05 / 14:03
Analysis
Justice
country
information
reports
Courts
NewsClick's Amit Chakraborty gets bail in UAPA case
ALSO READ: NewsClick: Court acknowledges founder received funds for pro-China content Justice Swarana Kanta Sharma had reserved the order after Chakravarty's counsel submitted that the chargesheet has already been filed in the case and the petitioner, after turning an approver, has been cited as a prosecution witness. Chakravarty's lawyer had said that the high court has the discretion under section 482 of the Code of Criminal Procedure (CrPC) to grant bail to him. The counsel for the Enforcement Directorate (ED) had said the prosecution has no objection if the relief is granted to him.
06.05 / 14:03
markets
MET
country
reports
Department
prevention
India's pickled mini cucumbers are a global delight
NEW DELHI : The popularity of Indian gherkins – pickled baby cucumbers – is growing across Europe, the US, South Korea and Brazil. In Europe, imports have surged in Germany, Spain, the UK, Netherlands, France, Italy and Greece. Exports surged 10% to $218.76 million in 2022-23 from $199.38 million in 2021-22.
06.05 / 14:03
Remark
Election
President
country
Naveen Patnaik will take oath as Odisha CM for 6th term on June 9, says VK Pandian after PM Modi's ‘expiry day’ remark
ANI, quoting the BJD leader VK Pandian. The Odisha assembly elections, along with voting in 21 Lok Sabha seats, will be held simultaneously in four phases: May 13, 20, 25, and June 1.
06.05 / 14:03
Election
country
information
Videos
Lok Sabha elections 2024: Amid rising deepfake content, EC directs political parties to remove fake clips within 3 hours
publishing and circulating deep fake audios/videos, disseminate any misinformation or information which is patently false, untrue or misleading in nature, to refrain from posting derogatory content…The parties have been directed to promptly remove any such content within three hours of bringing it to their notice, warn the person responsible in their party…" Recently, a political slugfest erupted over a doctored video of Home Minister Amit Shah and notices were served to 17 persons, including Telangana Chief Minister and Congress leader Revanth Reddy. Arun Reddy, who handled 'Spirit of Congress' X account, was arrested in connection with Amit Shah's doctored video case.
06.05 / 13:57
markets
economy
Sustainability
Experts
track
country
reports
India on track to become third largest consumer market by 2026: UBS
India is on track to become the third largest consumer market in 2026, overtaking Germany and Japan, as people in the affluent category increase, UBS said in its latest report released Monday. “As of 2023, there were an estimated 40 million people in India (4% share in the population of 15 years and above) in the affluent category (annual income above $10,000), and these will likely more than double in the next 5 years,” UBS said, highlighting 88 million people with over $10,000 annual income by 2028. The investment bank noted that consumption growth will likely remain muted at 4-5% in the current and next fiscal and below the 6.5-7% average annual growth witnessed during FY11 and FY20.
06.05 / 13:57
UPS
Election
pandemic
performer
country
Porbandar Lok Sabha Polls 2024: Date, schedule, result, party-wise candidates and other details you need to know
Bharatiya Janata Party, the Porabandar Lok Sabha constituency will see a heavyweight in Mansukh Mandaviya contest from there. In the past elections, the seat has switched hands a few times from the Congress and the BJP, but has remained in the saffron party's grip since 2013, when it won the seat in a by-poll. Currently the Health Minister in the Narendra Modi Cabinet, Mansukh Mandaviya will be contesting the 2024 Lok Sabha elections counting on his performance as the point person during the height of the COVID-19 pandemic. Going up against him is the Congress' Lalit Vasoya. The Congress last won this seat in 2009 and lost it almost instantly in 2012 when Vitthalbhai Radadiya quit the party and later contested the same seat on a BJP ticket.
06.05 / 13:57
Waters
Election
wellness
President
country
International
Union Minister, ex-CMs in north Karnataka's Lok Sabha battleground
Basavaraj Bommai and Jagadish Shettar and AICC President Mallikarjuna Kharge's son-in-law Radhakrishna Doddamani are among the 227 candidates facing the polls in the 14 constituencies in north Karnataka on Tuesday. Ministers Lakshmi Hebbalkar, Shivanand Patil, Eshwar Khandre and Satish Jarkiholi and seeking to launch their sons and daughters in electoral politics with the LS polls. About 2.59 crore electors will cast their vote at 28,269 polling stations where voting will take place between 7 am to 6 pm.
06.05 / 12:39
Waters
security
President
country
blues
Courts
yachting
The dictator’s son wanted his yacht back. That’s when trouble started
Vice President Teodorin “Teddy" Nguema Obiang was in a mood for payback. The Obiangs have run the oil-rich Central African country of Equatorial Guinea like a family ATM since 1979, accumulating mansions in Paris and Malibu, Ferraris and Bugattis, and at least three superyachts, according to court documents. And now a South African court was seizing Nguema Obiang’s two high-end Cape Town villas and the Blue Shadow, the yacht that carries his jet-ski collection while he vacations on one of the other two.
06.05 / 12:39
Provident
Waters
country
testing
International
How is a seafarer's income taxed?
—Name withheld on request Being a seafarer, there are certain concessions granted to you for determination of tax residence in India under the Income Tax Act, 1961 (ITA). Since you have left Indian territory as a crew member on an Indian-flag ship, you have to cross the threshold of 182 days or more stay in India in order to qualify as a tax resident of India.
06.05 / 12:23
Man
Election
WhatsApp
country
rights
Taking legal advice on returning looted corruption money to people: PM Modi
Andhra Pradesh): Prime Minister Narendra Modi on Monday said he was taking legal advice on how to return the money of poor people 'looted' in corruption. Referring to the seizure of «mounds of cash» by the Enforcement Directorate from the domestic help allegedly linked to the secretary of a Jharkhand minister, Modi wondered why such persons were «close to the Congress' first family.» «They have made the worker's house a godown of corruption. This is not the first time as a bigger seizure was made from an MP (in Jharkhand) earlier also and it was such a big cache that even machines were tired of counting.» The PM was addressing a rally at Vemagiri here, which was attended by TDP leader Nara Lokesh and Jana Sena chief Pawan Kalyan.
06.05 / 12:19
UPS
Google
Election
country
politician
From ‘Pappu’ to ‘Shehzada’: BJP's changing tactics for Rahul Gandhi
Pappu’ has been a common pet name in India, especially the North. In certain context, it is also used to denote a foolish or an ill-witted person. The BJP successfully used the name as a political tool in the run-up to the 2014 Lok Sabha elections to discredit Congress leader and Member of Parliament (MP) Rahul Gandhi.
06.05 / 12:19
Progressive
Analysis
Election
trends
show
country
Voter turnout: What data says about India’s reluctant electors
As 94 Lok Sabha seats go to polls on Tuesday in the third phase of the ongoing elections, voter turnout will again be under scrutiny. The election season has had a disappointing start, with overall turnout in the first two phases lower than it was in 2019. This trend has sparked concerns over whether Indian voters are less inclined to cast their ballots amid the scorching summer heat.
06.05 / 12:17
markets
COST
Strategy
Trade
country
reports
CBAM, permanent establishment rules, transfer pricing key in India’s outbound FDI: EY
global concern surrounding environmental issues and clean energy pose certain threats to Indian companies planning to invest abroad, consultancy major EY said in a report. While deeper insights are needed in areas like Carbon Border Adjustment Mechanism (CBAM), transfer pricing regime, permanent establishment rules, it said that higher investment limits for strategic PSUs investing overseas and investment by family offices are expected to spur overseas investments. India’s outward foreign investment increased to $22.88 billion in FY23 from $1 billion in FY02. On CBAM, it said: “Effective October 2023, it will be an additional cost for importers of specific emission-intensive product categories into the EU and means new compliance and reporting obligations. Companies therefore need to proactively address CBAM-related challenges for exporting ‘covered products’ to their overseas subsidiaries by understanding the requirements, assessing the potential impact on their operations and by developing a compliance plan”.
06.05 / 12:17
Waves
FIVE
Extreme
Yellow
country
Department
Heatwave in Rajasthan: IMD issues yellow alert from May 7 to 10
Regional Meteorological Centre issued a yellow alert for a heatwave from May 7 to 10 on Monday and mentioned the possibility of loo following the hot weather conditions in the state. «The average temperature in most areas of Rajasthan is recorded at more than 40°C. The highest 42.2 was recorded in Phalodi. In the next 48 hours, in most parts of Rajasthan, the average temperature will increase by 2-4 degrees,» said Radheshyam Sharma, director of the Jaipur Meteorological Centre. «In Rajasthan, the temperature will be 44-45 °C. There is a possibility of heatwaves and loo. From May 7 to 10, there will be a heatwave. From May 10-11, there is a possibility of light rain in some regions. From May 7 to 10, IMD Jaipur has issued a yellow alert for heatwave,» he added.
06.05 / 12:17
Waves
FIVE
WhatsApp
Southern
country
reports
isolate
IMD issues fresh heatwave warning for 8 states as temperature remains above 45 degrees
Gangetic West Bengal and Tamil Nadu, with similar severe conditions noted in isolated regions of Odisha, Rayalaseema, interior Karnataka, and Telangana. Heat wave conditions have persisted in Odisha since the 15th of April, Gangetic West Bengal since the 17th, and Rayalaseema since the 24th of April, 2024, according to IMD. Heat wave conditions are expected to abate over east India starting today and over southern Peninsular India from tomorrow onwards. Additionally, there is a forecast for a new heat wave spell to affect Western India, encompassing Gujarat, Rajasthan, and western Madhya Pradesh, over the next five days.
06.05 / 12:17
Target
War
country
social
consequences
Germany recalls its ambassador in Russia for a week in protest over a hacker attack
Germany said Monday it recalled its ambassador to Russia for a week of consultations in Berlin following an alleged hacker attack on Chancellor Olaf Scholz's party. Germany last week accused Russian military agents of hacking into the top echelons of Scholz's Social Democrats' party and other sensitive government and industrial targets. Berlin has joined NATO and fellow European countries in warning that Russia's cyberespionage would have consequences. The Foreign Office in Berlin said Monday that the government is taking the latest incident «seriously» and that Foreign Minister Annalena Baerbock had decided to call back German Ambassador Alexander Lambsdorff. He would return to Moscow after a week, it said.
06.05 / 12:17
Target
Election
WhatsApp
country
gatherings
Akhilesh Yadav will be defeated in Kannauj, Rahul Gandhi in Rae Bareli: Keshav Prasad Maurya
Keshav Prasad Maurya on Monday said both Samajwadi Party chief Akhilesh Yadav and Congress leader Rahul Gandhi will be defeated in Kannauj and Rae Bareli, respectively in the Lok Sabha elections. Addressing a gathering in support of BJP candidate from Shravasti, Saket Mishra, Maurya said the manner in which Akhilesh's wife Dimple Yadav was defeated in 2019 from Kannauj, the same will be his fate this time. «Rahul will also taste defeat from Rae Bareli,» he said. The BJP leader expressed confidence of the saffron party winning more than 400 seats in the general elections.
06.05 / 10:17
UPS
Platform
PwC
wellness
country
Features
Relationships
PwC India unveils a suite of GenAI-enabled products for CFOs
PwC’s Integrated Accounts Payable Engine: This is a complete solution to drive touchless, paperless invoice processing with in-built tax compliance at the transaction level. It has an AI-based invoice reading solution and workflow to handle invoices (purchase order (PO) and non-PO based) and a supplier portal with 50+ other features. This GenAI-enabled tool can be used to handle vendor queries as well as onboarding and matching processes.
06.05 / 10:13
security
Election
WhatsApp
country
Afraid of offending vote banks, Congress and TMC silent when terror struck during UPA rule: Amit Shah
Amit Shah on Monday accused the Congress and the TMC of maintaining stoic silence during terror attacks in the country in the UPA regime as they «were afraid of offending their vote banks». While the 10 years of BJP-led NDA government is characterized by a «tough stance» on terror and no compromise on the issue of national security, the Congress-headed UPA regime of which TMC was also an ally was soft on terror, he claimed. He was addressing a rally at Durgapur in Bardhaman-Durgapur constituency. «The Congress and TMC because of their vote bank politics didn't utter a word when terror strikes took place in the country during the Congress regime (UPA regime from 2004-2014). The TMC was then part of the Congress government. They were afraid that their vote bank would take offence if they took a tough stance on terror,» Shah said.
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