Country Financial News

Edited excerpts: The intention of regulation is to create checks and balances in the market where there is a significant rise, driven either by flows or by a huge participation coming from high networth individuals (HNIs) and retail. Some elements of checks and balances need to be created. Whatever the noise emanating from the regulation is more intended towards that (checks and balances) so that people don't assume that the market will continue to rise.

Mehbooba Mufti on Sunday said National Conference leader Chaudhary Mohammad Akram equating the Congress with the BJP should make the workers of the country's oldest political party think about their support to the oldest regional party in Jammu and Kashmir. «Chaudhary Akram could not have said anything worse than equating the Congress with the BJP while joining the National Conference. He said that there was no difference between the Congress and the BJP,» Mufti told reporters while campaigning in the Larnoo area of Anantnag district. The former chief minister said it was unfortunate that Akram chose to describe the Congress in that way. «His father (Chaudhary Mohammad Aslam) was in Congress. I don't understand how the Congress workers would support the NC. The NC leadership used to refer to Congress workers as 'gandi naali kay keeday' (the worms of the gutter). They used to face social boycott,» she said, referring to a period in the 80s when the two parties were at loggerheads.

A piece of shrapnel from a Russian missile hangs on the wall of Citigroup banker Alexander McWhorter’s office in Kyiv. He got it from a client whose factory was struck early in the war, a token of their long relationship and their plans to rebuild. Two years into the Ukrainian war, Citigroup is the only U.S.

Narendra Modi on Sunday said that India is now projecting with self-confidence the mantras of truth and non-violence globally as a solution to the problems facing the world and its cultural image is playing a big role in it as well. Addressing the 2,550th Bhagwan Mahaveer Nirvan Mahotsav here, Modi said his government put emphasis on promoting heritage as well as material development when it came to power in 2014 at a time when the country was engulfed in despair, a swipe at the previous UPA dispensation. Referring to the Lok Sabha polls, he said a big festival of democracy is happening «and, the country believes from here a new journey into future will also begin». He cited his government's promotion of Indian heritage like yoga and Ayurveda, asserting that the country's new generation now believes that self-pride is its identity.

₹18,000-crore follow-on public offer, the largest so far by an Indian company, was oversubscribed more than six times on Monday, the last day of bidding, led by qualified institutional buyers that subscribed 19.3 times the portion reserved for them. The FPO, which is larger than the ₹15,000-crore FPO by Yes Bank in 2020, had opened for anchor investors on 16 April and retail investors on 18 April, closed on Monday.

Mint, EssenceMediacom’s APAC CEO Rupert McPetrie, and South Asia CEO Navin Khemka, shared insights into the merger journey, the imperatives guiding their approach, and the roadmap for future growth. Edited excerpts: Rupert McPetrie: Bringing together these two businesses was an extraordinary moment for us—merging two robust agencies, each with a stellar client list and a wealth of talent. Our aim wasn't merely to combine them; it was to forge something entirely new.

underworld don Chhota Rajan has emerged after nine years, showcasing him in a robust state, reported TOI on Monday. The recent revelation dispelled speculations surrounding his alleged demise during the Covid pandemic or concerns about his health. However, its release has reignited apprehensions of potential attacks on him while incarcerated, prompting heightened vigilance from intelligence agencies. Rajan, presently confined in a high-security cell within Tihar Jail's Jail No. 2, faces looming threats from underworld figures Dawood Ibrahim and Chhota Shakeel. The latter has recurrently issued threats of harm against him while in jail, as per a TOI report.

Garena is in process of fully localising its India operations before launching the blockbuster video game Free Fire in the country. Following the government's nudge for over seven months, Garena is finally moving its game server to India to be installed in Yotta Data Services' Navi Mumbai premises, sources told ET. «Yotta is working with Garena's HQ (headquarter) team on testing the server, which is showing high throughput required for handling streaming workloads with least redundancy,» a person close to the company told ET. «It is important that performance metrics are adequately tested before the game goes to market because esports tournaments put many ecosystem players at stake and therefore should be devoid of any technical snags.»

climate activists have increasingly turned to courts to precipitate climate action. They want recognition of climate action as intrinsic as safeguarding constitutional and human rights. Starting with courts in the Netherlands, Australia, the US and Germany, and, more recently, European Court of Human Rights (ECtHR) and India’s Supreme Court — in its recent decision to include the adverse impact of climate change as a part of fundamental rights — judicial verdicts have held that governments are dutybound to enact and enforce suitable laws to protect present and future generations from the adverse effects of climate change. Citizen-led judicial activism, particularly from vulnerable and interest groups, reflects a rising public consciousness that governments’ failure to take timely and resolute climate action is a human rights issue. With constitutional courts upholding this position, climate action by the state is no longer a choice but an imperative.

Prime Minister, AIMIM chief Asaduddin Owaisi said that Modi abuses Muslims to get votes. “Modi today called Muslims infiltrators and people with many children. Since 2002 till this day, the only Modi guarantee has been to abuse Muslims and get votes.

In a remote region of Kenya, a group of  Bitcoin  miners has found an innovative way to power their operations and bring electricity to rural homes. 

Modi over his «redistribution of wealth» remark, Congress leader P Chidambaram on Monday said he cannot recall that any other PM had made such «outrageous statements» with each sentence outdoing the previous one in its «absolute falsehood and brazen mendacity». Chidambaram's attack came a day after Prime Minister Modi said that if the Congress came to power, it would redistribute the wealth of people to «infiltrators» and «those who have more children», and cited former PM Manmohan Singh's remark that the minority community had the first claim on the country's resources. In a post on X, Chidambaram said, «I cannot recall that any other prime minister had made such outrageous statements like PM Modi did at Jalore & Banswara in Rajasthan yesterday. Each sentence outdid the previous sentence in its absolute falsehood and brazen mendacity.» «Will the BJP tell the world: when and where did the Congress say that we will distribute people's land, gold and other valuables among Muslims? When and where did the Congress say that a survey will be conducted to value the property of individuals, gold held by women and silver owned by tribal families?» the former Union minister said.

Amit Shah said on Sunday Gorkhas in Darjeeling will get their rightful justice and recognition of 11 tribes, which is a long-time demand of Gorkhas is under consideration. Welfare of Gorkhas is of prime importance to Bharatiya Janata Party, Shah said to people assembled in Darjeeling's Lebong at a public rally, through BJP Darjeeling candidate's mobile phone after his chopper could not land in Darjeeling's Lebong due to heavy cloud. «We stand with you in your fight for justice. The recognition of 11 tribes' which is a demand of Gorkhas is under consideration. The sacrifice of Gorkhas for this country is immense and we are aware of it,» Shah said. He also apologized to people for failing to reach Darjeeling. «My helicopter could not land in Darjeeling due to bad weather and heavy clouds. I apologize for that. But rumours are being spread about it. Please vote for Raju Bista who is the son of the soil,» Shah urged people assembled there.

Here's the list of 11 candidates released by the Congress on Sunday: Earlier this month, the Congress had released list for six Lok Sabha seats and 12 assembly seats in Andhra Pradesh. The voting for the Lok Sabha Elections began on April 19. The polls will be across the country in seven phases and the results will be announced on June 4.

Tesla has announced significant price cuts for its electric vehicles (EVs) in key markets, including China and Germany, as it grapples with declining sales and heightened competition. This move follows price reductions in the United States and comes on the heels of the company reporting a drop in global vehicle deliveries for the first time in almost four years. Price Adjustments to Boost Sales The price cuts aim to stimulate demand and regain market share in the face of increasing competition, particularly from more affordable Chinese EV manufacturers. Tesla has been facing challenges in maintaining sales momentum, and these price reductions are seen as a strategic response to current market dynamics.

Rush Benton, the industry veteran who’s led Captrust’s M&A-driven growth strategy for more than decade, plans to move on. The firm’s senior director of strategic growth announced he would be leaving the firm to pursue a personal business venture.

Edition reported that the ruling PNC won 50 out of the 93 seats in the 20th People's Majlis, winning majority in parliament. As per the report, the majority in parliament is achieved by winning more than half the seats — that is 47 seats — "and a super majority can be reached by three fourth of seats, amounting to 70". Meanwhile, sun.mv reported that of the 203 seats where counting is complete, the PNC led by Muizzu bagged 59 seats, followed by Maldivian Democratic Party (MDP) at 10 seats and Independents nine seats.

Congress leader Rahul Gandhi on Saturday alleged that Prime Minister Narendra Modi is running a «school of corruption» in the country where he himself is teaching under the subject 'Entire Corruption Science". In a post on X, Rahul said that the BJP has made this course mandatory for its leaders. «Narendra Modi is running a 'school of corruption' in the country! Where under the subject 'Entire Corruption Science', he himself is teaching each chapter including 'donation business' in detail,» he said.

India on Sunday, with maximum temperatures settling four to six degrees Celsius above normal in many areas. According to the India Meteorological Department (IMD), maximum temperatures hovered between 42 and 45 degrees Celsius in parts of Odisha and Rayalaseema, Gangetic West Bengal, Jharkhand, Vidarbha, Chhattisgarh, Madhya Pradesh, Telangana and Andhra Pradesh. Parts of Bihar, Madhya Pradesh, Tamil Nadu, Puducherry and Uttar Pradesh recorded maximum temperatures between 40 and 42 degrees Celsius. Maximum temperatures settled 4 to 6 degrees Celsius above normal in many parts of Gangetic West Bengal, Bihar, Jharkhand and Odisha; and 2 to 4 degrees above normal in parts of sub-Himalayan West Bengal, Sikkim, Andhra Pradesh, Tamil Nadu, Puducherry & Karaikal, Chhattisgarh, Madhya Pradesh, Vidarbha and Telangana, the IMD said.

News Wrap this Week: As we wrap up this week, a look at the top news headlines from from April 15 to April 21. India saw its first phase of voting for the mammoth Lok Sabha Elections 2024 on Friday, April 19. While a few areas in West Bengal and Manipur saw violence and exchange of gunfire, the first phase of polling was "largely peaceful across 21 States/UTs", the Elections Commission of India (ECI) said.

INDIA bloc has done well in the first phase of Lok Sabha polls held across the country on April 19, senior Congress leader Digvijaya Singh claimed on Sunday. Singh has been fielded by the Congress from his home turf Rajgarh in Madhya Pradesh. «Good news is coming for INDIA bloc from several places in the first phase of Lok Sabha polls. BJP is not getting the success they expected in their strongholds. They are nervous,» Singh told reporters in Ajgari village, which is part of Chachoda assembly segment under Rajgarh LS seat. He claimed Union Minister and BJP heavyweight Nitin Gadkari «is in trouble» in Nagpur, though he did not elaborate. Two-time MP Gadkari is pitted against the Congress' Vikas Thakre in Nagpur Lok Sabha seat. The BJP used to speak about «Congress-mukt Bharat» but the ruling party itself has become «Congress-yukt» as half of its candidates in the general elections are defectors from the grand old party, the former MP chief minister claimed.