Country Financial News

For decades, tourists to Hawaii have brought home gift boxes of the islands’ famous chocolate-covered macadamia nuts for friends and family

Nepal is hosting an investment summit, hoping to attract much-needed foreign investment

Medical device maker Philips will pay $1.1 billion to settle personal injury lawsuits in the U.S. over its defective sleep apnea machines

capital flows have been firm, foreign lenders have requested the banking regulator for flexibility in compliance with the central bank's Large Exposures Framework (LEF), particularly in handling certain types of accounts that facilitate global transactions. Banks have requested the Reserve Bank of India (RBI) to consider excluding Nostro accounts from the exposures that are permitted under the LEF as sporadic instances of foreign flows that are meant for payouts over the next couple of days have resulted in breaches of the central bank's exposure norms, sources aware of the developments told ET. A Nostro account is one that a bank holds with an overseas lender which is denominated in the currency of that country. Such accounts help banks in enabling fund flows for international trade.

Netflix announces the highly anticipated third season and accompanying world tour. Set against the backdrop of the Regency Era, this unique event promises to transport viewers into the extravagant world of the Ton, unfolding glamour, romance, and drama across ten countries. Exclusive Experience

Bihar deputy CM and BJP leader Samrat Choudhary in an interaction with ET dismissed the notion that low voter turnout would impact the NDA while expressing confidence that the difference between the NDA and the opposition is high. He further added that low voting percentage won't impact the NDA in terms of winnability of seats. «Where is the new vote going to the opposition? In Bihar, the fight is at 80:20. Therefore, low polling is not going to impact us. In fact, we are determined to do better than 2019,» Choudhary told ET. In 2019, the NDA had won 39 of the 40 Bihar seats with JDU and LJP as their allies. The BJP leader said that there are around 20 seats in Bihar where the opposition has almost given a walk over. Talking about JDU joining the NDA again, Choudhary said the alliance is natural with a strong vote bank.

India to over $4 billion in the current financial year ending June from $1.3 billion two years ago, its regional vice president for Asia and the Pacific Riccardo Puliti told ET. He said climate finance would occupy an even greater focus in the financial institution's future investment in the country. IFC is the World Bank's lending arm focussed exclusively on private sector in developing countries. «Nearly 41% of IFC's total investment this year is related to climate finance; 41% is already very high and will go higher because the whole Indian economy is moving in that direction,» Puliti highlighted.

BJP President J P Nadda on Monday asked who the prime ministerial candidate of the opposition bloc would be. Nadda, who addressed election rallies at Kothagudem and Mahabubabad in Telangana, said Narendra Modi would become prime minister if the BJP and its allies win the Lok Sabha polls but nobody knows who the INDIA bloc's PM candidate is. «We have decided that Narendra Modi ji will be our prime minister. But, I want to know who will become the prime minister on behalf of INDI alliance's 'arrogant' coalition. Does anyone know?,» he asked. «Who will become prime minister? Modi ji will become. But, who is the prime ministerial candidate from there (INDIA bloc)? Who is the candidate? God forbid if Rahul Gandhi becomes, if anyone brings him to the front, will he be able to fight with Corona (pandemic)?,» Nadda asked.

₹1,400 crore. The latest acquision will see the Karnataka-based hospital chain increase its bed count from 9,500 currently to more than 10,500, making it the largest healthcare group in the country, it said in a statement. Earlier, Apollo Hospitals was the biggest hospital chain in the country with around 10,103 owned and operated beds as of 31 March 2024.

Honda Motor Co. Ltd.’s announcement last week that it’s building a $15-billion “vertically integrated” electric-vehicle and battery-cell manufacturing complex in Ontario has opened a new chapter in the country’s industrial strategy for the energy transition.

gender equality have three times higher loyalty, productivity, and motivation than those working with laggards, a survey said on Monday. Deloitte's 'Women @ Work' survey said the transition to full-time work has resulted in difficult adjustments for many women professionals. Around 41 per cent women have asked for a reduction in their hours, 31 per cent said it has negatively impacted their mental well-being. These parameters are better for those who are returning to office in a hybrid setup, the survey said.

travel and tourism sector is all set to add 5.82 crore jobs across the country by 2033, a top executive of global technology and digital talent solutions provider NLB Services said on Monday. «The growing synergy of the sector has led to steadfast employment generation across the country both in tier I and II locations. In the pandemic year 2020, the tourism sector accounted for 39 million jobs, constituting 8 per cent of the nation's total workforce. Post the pandemic recovery tenure, this was one of the sectors that saw the quickest recovery,» NLB Services CEO Sachin Alug said in a statement. Incidentally, talent demand in tourism recorded a 44 per cent spike in August 2023, and 1.6 million additional jobs were expected to be added in the calendar year 2023, he said.

Narendra Modi has become worried after learning that the Congress had been ahead in the first two phases of polls, AICC president Mallikarjuna Kharge said on Monday, while adding that the PM was attacking the Congress by referring to things the party never said in its manifesto. Neither the Indian Constitution nor the Congress election manifesto said all wealth would be distributed to Muslims, but Modi was saying so in sheer frustration after learning about the Congress party’s leads in the first two phases, the AICC president said, addressing rallies at Sedam, Gurmitkal and Kamalapur. The three assembly segments are part of Kalaburagi (Gulbarga) Lok Sabha seat his son-in-law Radhakrishna Doddamani was contesting from. Kalaburagi is one of the 14 constituencies in Karnataka that are going to polls on May 7. The Congress has only said the poor would get their due share and there was no mention of Hindus or Muslims in the manifesto. The Congress party, since the time of Indira Gandhi, had worked for the upliftment of poor people and battled poverty. Land reforms, bank nationalisation and programmes like NREGA, and Food Security Act were an outcome of the Congress initiatives, the 81-year old AICC leader said, wondering if Modi could claim credit for any such programme.

Almost threefold growth has occurred in Indian benchmarks over the past decade. The meteoric rise of the stock market has also attracted retail investors' participation in India's equity markets. Income from investments attracts taxes in the form of dividend distribution tax (DDT), long-term capital gains (LTCG), and short-term capital gains (STCG), which individual investors must understand carefully. If investors do not engage in proactive tax management, these taxes have the potential to reduce their total returns. 

Mytek Innovations has launched a first-of-its-kind digital platform that uses open artificial intelligence (AI) tools to help contractors deliver infrastructure projects on time. This AI-enabled platform can analyze the input cost required to complete a project and auto-generate a detailed, milestone-wise plan to complete the project on time and reduce completion cost by 10-12%. Contractors and subcontractors can use this platform to plan rapidly and begin work without delays. Additionally, once registered on Mytek’s contactor app, contractors can apply for funding to execute the project. “Today, delays and budget overruns are commonplace in infrastructure projects. Mytek’s platform will be a powerful tool for contractors and subcontractors all around the country that helps contractors save costs and deliver projects on time. We are using the latest technologies to not only revolutionize project planning but also democratize it,” said Shivkumar Borade, founder and chief managing director of Mytek Innovations.

COVID-19 vaccine at the height of the pandemic in the country in 2020, has been dismissed from Parliament for alleged corruption. Yang Xiaoming, the chairman of China National Pharmaceutical Group's vaccine subsidiary China National Biotec Group (CNBG), has been stripped of his membership in the National People's Congress (NPC) due to serious discipline and law violations, official media reported here on Monday. The charge of serious discipline and law violations is a common euphemism for corruption under the ruling Communist Party of China (CPC) disciplinary practice.

Jaishankar on Monday said the partition of India in many ways broke the natural connectivity of the northeastern states and impacted the growth in the area due to political barriers as well as administrative issues. Jaishankar was addressing an event in Delhi University's Kirori Mal College on the topic 'Northeast India's Integration with South East Asia and Japan: Balancing Economic Ties and Ecological Conservation'. «The consequence of the partition of India broke in many ways the natural connectivity that the Northeast had or would have enjoyed. As a result of that, the levels of growth that the Northeast should have seen was slowed down. In the first few decades after the partition, the Northeast did not enjoy the advantages which other parts of the country did because of political barriers and administrative issues,» Jaishankar said while speaking to students. The Union minister also added that the current economic stability in the Northeast is moving towards a stronger front.

Delhi Police has asked Telangana Chief Minister Revanth Reddy to join the probe on May 1 in connection with Union Home Minister Amit Shah's doctored video being circulated on social media, official sources said on Monday. According to sources, the police served notices to five people, including Reddy, who posted the video on X. Reddy, who is also the Telangana Congress chief, has been asked to appear with his mobile phone allegedly used for posting the fake video on X, according to sources. The Special Cell of the Delhi Police had on Sunday registered an FIR after the Indian Cybercrime Coordination Centre (I4C), which is under the Ministry of Home Affairs, filed a complaint about the doctored video of Shah where his statements indicating a commitment to abolish quota for Muslims on religious ground in Telangana were changed to make it seem that he was advocating scrapping all reservations.

Nestle India Chairman & Managing Director Suresh Narayanan on Monday asserted that the company's infant food formulation for children below 18 months is done on a global basis and the allegation that «it is racially stereotyped is unfortunate» and untrue. Addressing reporters here, he said the amount of sugar content in infant foods is determined by the capability to meet the nutrition profile of a particular age group and that is universal. Nestle India's added sugar content in Cerelac is much lower than the upper limit prescribed by FSSAI, he added. «There is nothing in this product that makes it a product that is potentially of any risk or any kind of harm to the child,» he said.

Narendra Modi from contesting elections for six years for allegedly seeking votes in the name of deities. Justice Sachin Datta said the plea was devoid of any merits.

Narendra Modi on Moday said the opposition "INDI alliance" wants to give the PM's post to its leaders for a year each, and asked the people if they support such an idea. «There is a great war going on about who will be the leader of the INDI alliance. Can you hand over such a big country to someone whose face is not known,» Modi said, addressing an election rally in Solapur. Modi claimed that if the INDI alliance comes to power, it will work with the "one year, one PM" formula during its five-year term.