Country Financial News

basmati exports to the EU have consistently risen over the past three years. According to data from the Directorate General of Commercial Intelligence and Statistics (DGCIS), in FY23, India exported 152,857 metric tonnes (MT) of Basmati valued at $167 million, up significantly from 88,452 MT worth about $93.4 million. Between 1 April 2023 and 31 January 2024, India exported 130,122 MT ($168 million) of Basmati to the EU, indicating robust demand for Indian basmati in the EU market.

A U.S.-based rights group says the World Bank has suspended funding for a tourism project in Tanzania that allegedly caused the suffering of tens of thousands of villagers

The Supreme Court is allowing a soccer promoter’s antitrust lawsuit to go forward against FIFA and the U.S. Soccer Federation over the world governing body’s policy of not permitting a country to host league matches involving teams from other countries

Employees’ Provident Fund Organisation (EPFO) reported more than 19 per cent growth year-on-year to 1.65 crore members in fiscal 2024, the latest payroll data shows, showing improvement in the employment situation in the country, reported Press Trust of India. 

American Intelligence Journal, Virginia Kent of the State Department and Robert Gay of the National Intelligence University in Maryland wrote of a “bloodless coup" by Chinese money-handling organisations, noting how, in recent years, they have largely displaced home-grown ones in Mexico that were previously used for this purpose. The authors (expressing their personal views) called these Chinese operators “a new and more challenging money-laundering foe". The American government has been sounding the alarm.

land deals in 2023-24, cumulatively accounting for nearly 2,989 acres across the country, as residential segment continues to drive the Indian real estate market. Amid all-time high residential demand, several large and listed developers and other entities continued to snap up land. Other than residential, commercial, retail, industrial and logistics & warehousing are also driving prime land deals in key locations across India. «Interestingly, out of the total land deals in FY-24, over 83 deals for about 1,135 acres were closed in the top 7 cities alone», said Anuj Puri, chairman, Anarock group.

supermajority" in Parliament by winning over 60 seats in Sunday's crucial parliamentary election, seen as a litmus test for the pro-Beijing politician whose policies are being closely watched by both India and China amidst regional power dynamics. According to information released by the Elections Commission (EC), 207,693 people cast their ballots as of 5:00 pm local time, making for a voter turnout of 72.96 per cent. This includes 104,826 men and 102,867 women. A total of 284,663 people were eligible to vote to elect lawmakers for 93 constituencies in the 20th People's Majlis. A total of 368 candidates were in the fray, including 130 independent candidates, 10 candidates from Jumhoory Party (JP), 39 from The Democrats, Maldives Development Alliance (MDA) 4, Adhaalath Party (AP) 4, and Maldives National Party (MNP) 2 nominees.

President Joe Biden frequently cites insulin prices as he promotes a $35 price cap for Americans with diabetes who are on Medicare

Mint looks at the implications of this development for India and the rest of the world. For the third consecutive month, various inflation indicators in the US exceeded expectations. For instance, the US economy continues to grow faster, adding jobs robustly on the back of strong retail sales despite the interest rates being at a 23-year high.

Hanuman Jayanti. In a post on X, PM Modi said, “I extend my best wishes to my family members across the country on Hanuman Jayanti. The dedication of Pavanputra will always remain an inspiration for all Ram bhakts.

Congress for its "sins" and the party that had once won 400 seats is unable to contest 300 seats in this Lok Sabha election. «In the first phase of voting, half of Rajasthan has punished Congress. Rajasthan, which is full of patriotism, knows that Congress can never make India strong,» Modi said at an election rally in Jalore district. He said that the country does not want the conditions that existed before 2014 to return. «The Congress has hollowed out the country by spreading termites of nepotism and corruption. And today the country is angry with the Congress and is punishing it for these sins.

mangalsutra, gold’ remark that sparked “hate speech" row, PM Modi has doubled down on his anti-Muslim statements at a campaign rally for Lok Sabha elections 2024. Addressing a speech in Rajasthan's Tonk-Sawai Madhopur, PM Modi attacked the Congress, saying it will wants to reduce the “SC-ST reservation and distribute it among the Muslims." Continuing his scathing attack on Congress, PM Modi also said that the grand-old party was hatching a conspiracy to “snatch your property" and “distribute it among selected people".

Pakistan Prime Minister Imran Khan wrote a letter to Chief Justice of Pakistan (CJP) Qazi Faez Isa on Saturday, demanding punishment for those who have subverted the Constitution in matters related to allegations by six Islamabad High Court (IHC) judges about interference in judicial affairs by the country's intelligence apparatus, Pakistan-based Dawn reported. The development comes after six Islamabad High Court judges made allegations against interference in judicial affairs by Pakistan's intelligence apparatus.

"Ulgulan Nyay rally" in Ranchi on Sunday. It's not yet confirmed that there were clashes between RJD and Congress workers at the rally. Taking a dig over the "clashes", Prasad told news agency ANI, “Where is their [INDIA bloc] unity? How will they unite the country when they are not united?...

Maldives voted on Sunday to elect a new Parliament as a MDP victory in the House will enable it to keep a check on the Muizzu’s administration’s steps impacting New Delhi’s interests in the region. As many as 368 candidates are contesting on 93 seats in the parliamentary election MDP had a majority in the last Parliament. China is also keeping a close watch on the elections. This month, President Md Muizzu awarded high-profile infrastructure contracts to Chinese state-owned companies including airport redevelopment plan as campaigning for the parliamentary elections was in full swing.

Thousands of Colombians have taken to the streets in the latest rebuke of leftist President Gustavo Petro’s reform agenda

WeWork India has expanded its presence in India by adding two new assets across Pune and Gurugram spread over 1, 83,000 sq ft. The HQ27 located in Gurugram’s MG Road market, offers over 96,000+ sq. ft. of sace across three with over 1,480+ desks. The property ahs a 15 years lease agreement with WeWork.The Pune property is Situated within Pune’s largest mall complex — Amanora Mall, Amanora Crest offers over 87,000 sq. ft. of workspace with around 1,700 desks under operator model. “There has been a consistent uptick in office leasing, and flexible workspaces are leading the charge. As more organisations opt for hybrid work models, we expect the strong demand for flex spaces to continue rising. We are actively looking at adding new assets to our portfolio”, said Arnav S Gusain, Head of Real Estate, Product, and Procurement, WeWork India said.

Mahendra Patil, a senior civil judge in Maharashtra, had his vehicle registration rejected despite submitting his official ID card which he believed was the only requirement for compliance. Upon inquiry, he discovered that his application did not meet additional conditions set forth in a circular issued by the transport commissioner in February 2024, leading to the rejection of his registration under the BH series. According to the disputed circular, any government employee applying for a BH series vehicle registration is required to provide not only their official identity card but also a certificate verifying their presence in other states, including details of offices they have there, stays during their tenure, and payment slips from such periods. In his legal challenge, Mahendra Patil argued that the transport commissioner lacked the authority to impose these additional requirements, which he claimed contradicted the guidelines established by the Central government. Patil's lawsuit sought the annulment of the transport commissioner's circular and demanded that his vehicle be registered under the BH series. He asserted that he had met all the conditions specified in the Central Motor Vehicles (Twentieth Amendment) Rules of 2021 for such registrations.

Digital Public Infrastructure (DPI) and Digital Public Goods (DPG) in terms of exports by including newer platforms to help emerging market economies with financial inclusion, innovation and economic growth, two people aware of the matter said. While Aadhaar and UPI are popular among global south countries as these can be easily replicated, India is also pushing for exporting other DPI and DPG, which can significantly impact such economies, the people added.

Modi on Sunday accused the Congress party of ignoring the welfare of tribals, saying it could not find a single person from the Adivasi community who could be the President of the country during its 60-year rule. «Were the tribals not capable? Just see the Congress' mindset. But in 2014, you blessed us.., and now a tribal daughter is the country's president. This is real participation. This is the spirit of the Constitution given by Babasaheb,» Modi said addressing a public meeting in Banswara in support of BJP's Mahendrajeet Singh Malviya. Modi said that the BJP is committed towards the welfare of the poor and works honestly, but the Congress sells «fear, hunger and corruption in its shop». He alleged that the Congress has always instilled fear among the Dalits, tribals and minorities and is now spreading lies about democracy, the Constitution and reservation to scare them.

heatwave days, with certain regions facing over 20 days of scorching conditions. Andhra Pradesh, Bihar, Gujarat, Jharkhand, Madhya Maharashtra, Madhya Pradesh, Marathwada, Odisha and Vidharba are predicted to record more heatwave days, some even more than 20 days of the month. The intense heat poses risks to power grids and may lead to water shortages in various parts of the country, the weather department has warned, PTI reported.