Country Financial News

Prajwal Revanna's sex videos: Karnataka Chief Minister Siddaramaiah on Wednesday wrote to Prime Minister Narendra Modi seeking his intervention to get Hassan MP Prajwal Revanna's (JDS) diplomatic passport cancelled and his swift return to India to face the police investigation into the charges of sexual exploitation of women. Within hours, Revanna Jr posted a message on social media saying he has sought time to appear before the SIT, CID as he is not in Bengaluru. Truth will come out soon, he said. His advocate has requested the SIT to give the MP seven days of time to appear before it. He is the grandson of former PM HD Deve Gowda and fought the April 26 Lok Sabha polls as NDA candidate from Hassan.

American Express has opened its largest campus globally in India, spanning around one million square feet, demonstrating its commitment to the country. “American Express in India continues to develop in-country capabilities by leveraging our global expertise and local talent, fostering new opportunities and innovation for customers worldwide. The new office building provides a modern, energy-efficient workspace, enabling our teams to continue driving innovation and delivering exceptional value to our customers worldwide,” said Sanjay Khanna, CEO and Country Manager of American Express, India. According to the company, employees will begin moving to the new facility, located in sector 74A Gurugram, in phases, starting at the end of May 2024. The facility has received Leadership in Energy and Environmental Design (LEED) Gold certification for Building Design and Construction (BD+C) Core and Shell Development,” the company said.

GTRI) Wednesday said that nearly $700 million worth of India’s spice exports to critical markets are at stake due to cascading regulatory actions in many countries, as concerns are being raised about the quality of Indian spices. It cautioned that if the EU follows suit with a rejection across the bloc, it could impact an additional $2.5 billion of India’s spice exports. The US, Hong Kong, Singapore, Australia, and Malé have raised questions on the quality of spices supplied by leading Indian firms MDH and Everest. India exported spices worth $692.5 million to these countries in FY24. “This issue demands urgent attention and action to uphold the storied reputation of India’s fabled spice garden,” it said, adding that so far the response from Indian authorities has been tepid and formulaic.

BENGALURU : One branch of the Godrej family could enter property development to become a future rival to the other, under the terms of their family agreement, though some riders in the treaty may limit its growth in the short term. For long, Godrej & Boyce Mfg Co. Ltd owned the group's land assets, while Godrej Properties Ltd did the property development.

India needs to address the quality issue with regard to its spice exports with urgency and transparency as the ongoing quality concerns could threaten over half of the country's spice shipments, a report said on Wednesday. Economic think tank Global Trade Research Initiative (GTRI) said that every day new countries are raising concerns about the quality of Indian spices. This issue demands urgent attention and action to uphold the storied reputation of India's fabled spice garden, it said. «With nearly USD 700 million worth of exports to critical markets at stake, and potential losses soaring to over half of India's total spice exports due to cascading regulatory actions in many countries, the integrity and future of India's spice trade hang in delicate balance,» the report said.

₹7.5 trillion on education every year. There are frequent calls to double this number if the education system is to be fixed. Overcoming the myriad problems in areas such as education, health, nutrition, safety, justice and social protection needs more than higher public spending.

Marine. Since taking over the National Front in 2011, rebranding it the National Rally (RN), she has converted a pariah into a party preparing to govern. Her protégé, the 28-year-old Jordan Bardella—now party president—is the only politician to feature in the top 50 favourite French personalities, alongside football stars and ageing rock legends.

Heritage Foundation economist Peter St. Onge offers his analysis on the housing unaffordability crisis on 'The Bottom Line.’

Kolkata port as they eye a new Master Ship Repair Agreement (MSRA) that will allow US warships to access repair services at the port, according to persons aware of the matter. This is part of attempts by New Delhi and Washington to make India a major hub for maintenance and repair of US Navy ships in the Indo-Pacific. Ehe US navy signed MSRA deals with Larsen and Toubro as well as Mazagon Dock Shipbuilders Ltd last year.

Global investors are unwinding bets on local-currency bonds as some emerging-market central banks come under pressure to raise interest rates — rather than cut them as widely anticipated just weeks ago.

Chirp Network has partnered with peaq to provide connectivity solutions for decentralized physical infrastructure networks (DePINs).

Chinese smartphone brands are roping in services of Reliance Retail’s distribution arm to reach retail stores in the hinterlands. Xiaomi sub-brand Poco recently roped in Jio Mart Digital (JMD), through a strategic partnership to distribute Poco devices to over 80,000 retail stores across the country, according to industry executives and retailers. The move comes amidst the offline retail channels claiming over 61% of sales in Q1 2024, according to preliminary estimates from Counterpoint Research, up from 56% the previous quarter. Samsung and Vivo have the strongest hold over offline retail, the research firm said, adding that Xiaomi and Transsion were the fastest growing in Q1 2024.

RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance Commission. Subbarao, who held various positions including the finance secretary of Andhra Pradesh and Union finance secretary, and wrote extensively on issues in fiscal federalism in his new book titled 'Just A Mercenary?: Notes from My Life and Career' further said that horizontal sharing of the divisible pool of taxes has always been a contentious issue but will be even more so in this round. «This (north-south divide in deciding on the distribution of the tax pool among states) is a complex political challenge beyond the remit of the Finance Commission. »Resolving it will demand enlightened leadership at central and state levels that can look beyond politics and build a consensus around an optimal way forward," he told PTI.

mafia raj" was going on in Assam, Congress leader Priyanka Gandhi Vadra on Wednesday claimed Chief Minister Himanta Biswa Sarma was involved in multiple scams. Addressing an election rally in Dhubri, she claimed Sarma has a «secret understanding» with Badruddin Ajmal of the AIUDF just like BJP has with Assaduddin Owaisi in Telangana, both of which were aimed at defeating the Congress. She also hit out at the BJP on the sexual abuse allegations against Karnataka MP Prajwal Revanna and said that PM Narendra Modi sought votes for him and then did not stop him from leaving the country. The Congress leader also attacked the BJP on the electoral bonds issue.

₹2.10 trillion in April, according to the finance ministry data on Wednesday. The GST collection breached the ₹2 trillion mark for the first time, reflecting robust economic growth and administrative efficiency in tax mop-up. The revenue collected by the Centre and states on goods and services consumed in the country in April was 12.4% higher year-on-year, as per data from the finance ministry.

The Environmental Protection Agency has finalized a ban on consumer uses of methylene chloride, a chemical widely used as a paint stripper but known to cause liver cancer and other health problems

Novo Nordisk, said on Wednesday it plans to invest around $200 million in quantum computing startups. The company, the investment arm of the Novo Nordisk Foundation, has 77% of voting shares in Novo Nordisk, which is known for producing blockbuster obesity drug Wegovy and diabetes treatment Ozempic.

The scale of investment by the world’s two superpowers as they conduct a proxy war through aggressive industrial policies is epic. Given the opaque nature of China’s Communist Party government, the most cited estimate is that even five years ago, China was spending 1.7% of GDP on industrial-policy projects. That ratio has surely gone up since.

National Investigation Agency (NIA) has arrested another key accused in the Rs 700 crore Attari border drugs seizure case, taking the total number of arrests in the matter to eight. An official statement issued on Wednesday said the accused, Athar Saeed alias Chacha, had handled the proceeds of the drugs on the directions of the kingpin, Shahid Ahmed. Saeed was arrested on Tuesday after the NIA teams searched his premises in Delhi's Daryaganj and seized incriminating documents. The documents are being examined by the anti-terror agency to unravel the complete conspiracy behind the massive drugs racket, the statement said.

South Korea has held talks about joining part of the AUKUS defence deal between the U.S., Britain and Australia, Defence Minister Shin Won-sik said on Wednesday, only weeks after the pact said it would consider including Japan. Formed in 2021, AUKUS is a two-stage security pact to counteract China's growing power in the Asia Pacific region. While a first stage to give Australia nuclear submarine technology is limited to the core trio, they have raised the possibility of other countries joining a second stage, or «Pillar 2», that aims to share other military technology.

Adani Energy Solutions Ltd (AESL) on Tuesday posted a 13.26 per cent fall in its consolidated net profit to Rs 381.29 crore during the quarter ended March 2024 on account of increased expenses. Its net profit after tax was at Rs 439.60 crore in the January-March period of the preceding 2022-23 financial year, the company said in an exchange filing.