Country Financial News

Amid heightened tensions between China and Taiwan, Chinese President Xi Jinping told a former Taiwanese president who supports unification that the countries “belong” together.

Israel and its allies shooting down a fusillade of Iranian missiles and drones this weekend, many began wondering what the latest exchange between Israel and Iran would mean for the war in the Gaza Strip. The Iranian attack was retaliation for what was widely believed to be an Israeli strike this month on an embassy building in Damascus, Syria, that killed seven Iranian officials, including three top commanders in Iran's armed forces. But it occurred against the backdrop of the war in Gaza, where Israel is battling Hamas, a militant group funded and armed by Iran. Israeli military analysts were divided on whether a more direct confrontation with Iran would alter the war in Gaza, now in its sixth month. The next fulcrum in that war could hinge on whether Israel decides to pursue Hamas in the southern city of Rafah, where more than 1 million Palestinians have fled amid a spiraling humanitarian crisis.

recycled." A «sustainable» airline ticket. More and more, big brands are using taglines like these to cater to their green-minded customers. And more and more, they are under fire from courts and regulators for making climate promises they can't keep. Researchers at the Grantham Research Institute on Climate Change and the Environment last year identified «an explosion of 'climate-washing' cases,» using existing national laws and regulations. Between 2020 and 2022, the most recent year for which statistics are available, the number of cases challenging the «truthfulness of corporate climate commitments» more than doubled, their tally found.

missiles attack before 72 hours of its launch, said Turkish, Jordanian and Iraqi officials said on Sunday. “Iran gave neighboring countries and Israel's ally the United States 72 hours' notice it would launch the strikes," said Iranian foreign minister Hossein Amirabdollahian as quoted by Reuters. However, a senior official in the Biden administration stated that Tehran did not warn about the attack and that it was aiming to cause a significant damage.

BJP candidate from Andaman and Nicobar Islands, Bishnu Pada Ray, hit out at the Congress on Sunday, claiming that the grand old party has always harboured 'anti-India' sentiments. Speaking to on Sunday, he claimed that the country's first prime minister, Jawaharlal Nehru, gifted the Coco Islands, which were part of the Northern Andaman Islands, to Myanmar. «The Congress has always harboured anti-India sentiments. Nehru gifted the Coco Islands, which were part of the Northern Andaman Islands, to Myanmar, which is currently under China's direct control. They did not worry about the islands in the 70 years they were in power. Today, the central government is constructing a shipyard, and two defence airports to counter China in Campbell Bay, which is also known as Indira Point,» the BJP candidate claimed.

Iranian drone and missile attack. In an official statement, Gantz said, “We will build a regional coalition and exact the price from Iran in the fashion and timing that is right for us." Iran on Saturday launched over 300 missiles at Israel in revenge on its embassy in Syria which claimed the lives of its officials including a senior commander of the Iranian Revolutionary Guard Corps' overseas Quds Force. However, Israel claimed that it intercepted ‘nearly all’ missiles launched by Iran.

United States on Sunday highlighted its role in helping Israel thwart Iran's aerial attack as President Joe Biden convened leaders of the Group of Seven countries in an effort to prevent a wider regional escalation and coordinate a global rebuke of Tehran. The U.S. assisted Israel in shooting down dozens of drones and missiles fired by Iran on Saturday in what was the first time it had launched a direct military assault on Israel. Israeli authorities said 99% of the inbound weapons were shot down without causing any significant damage.

Interest rates are an important factor that determine the trajectory of gold prices. When interest rates are high, gold becomes less attractive. When the US Fed hiked interest rates in 2022 and 2023, gold prices dipped (see chart). But in recent months, the US Fed has become less hawkish and more inclined to cut rates. Global gold prices have rallied on these expectations. “Gold prices could remain choppy in the months ahead as the market reacts to geopolitical developments. The medium term outlook for the precious metal is promising, given the imminent turn in the US interest rate cycle,” says Chirag Mehta, CIO, Quantum Mutual Fund. Gold has also rallied due to strong buying by central banks in the past few months. News reports say some countries are trying to reduce their US dollar reserves following the freezing of Russia’s reserves by the US and Europe, and are shifting to gold. “Increased buying of gold by central banks, especially China, in the quest to reduce dollar exposure (also called de-dollarisation), is the key reason for the spike in gold prices,” says Vidya Bala, Co-founder, PrimeInvestor.in.

Israel Defense Forces' Home Front Command in providing a response to environmental incidents in regards to the protection of factories during the ongoing emergency. The ministry conducted a situational assessments as part of the country's preparations for another Iranian attack and the fear of damage to plants containing dangerous substances and to plants that have been declared essential by the ministry. The professionals of the Ministry of Environmental Protection assist in examining the compliance of plants containing hazardous substances with the instructions of the Home Front Command for safety protection. During a security emergency, the Home Front Command is the body responsible for the operation of security events, and under its responsibility is the protection of sites and factories that contain dangerous substances, damage to which could be a danger to the public and the environment.

₹6,200 crore from ₹4,645 crore in 2023-24 (budget estimate). Similarly, the allocation for the Modified Programme for Development of Semiconductors and display manufacturing ecosystem was more than doubled to ₹6,903 crore for 2024-25 (BE) from ₹3,000 crore in 2023-24 (BE).

Hindustan Aeronautics Ltd, Bharat Electronics Ltd, Mazagon Dock Shipbuilders, Cochin Shipyard and Data Patterns up between 11% and 36%. What’s fascinating is, the Nifty India Defence index has shot up 14% in the past month, outpacing the Nifty 50, which has seen a mere 2% rise. Presently, much of the enthusiasm in this sector is due to recent preliminary business updates from the defence equipment manufacturers.

Between mid-December and the end of March, police inspected about 400 shipping containers at the Port of Montreal and found nearly 600 stolen vehicles, most of them from the Toronto area.The operation showed how Canada’s second-largest port has become a key transport hub for stolen vehicle exports. Police say that’s because of the port’s strategic location and large container volume.

Sonam Wangchuk on Sunday informed that Pashmina March towards the grazing lands and Line of Actual Control between India and China will start on April 17, on the day of Ram Navami. Wangchuk, who along with scores of other people is on a protest in Leh for over six weeks now–demanding constitutional safeguards under sixth schedule and statehood for Ladakh– celebrated the birth anniversary of Bhim Rao Ambedkar at the protest site. He stated that this was the apt opportunity to demand what is promised and enshrined in the constitution of the country. “We want to remind this government of the promises it made in the last two elections. We hope that they will honour the teachings of Ramji as his true Bhakts and fulfil the promise made to the people of Ladakh,” said Wangchuk.

BDO India LLP is set to open a global capability centre (GCC) in the country through a joint venture among BDO member firms spanning India, the US, the UK and Germany, senior executives said. The GCC, which will be set up in Noida, will look to recruit up to 5,000 people within the next 3-4 years, marking the latest instance of professional services firms establishing or expanding capability centres in India. The Big Four between them have more than 250,000 people working in GCCs in India. The trend is now getting reflected in smaller professional services firms like BDO which are opening GCCs in India to compete effectively on cost and quality.

Pattaya or a spa in Bangkok? Well, that could be a reality if India can pull off a currency deal with Thailand, which has emerged as one of the preferred destinations for holidays, conferences and corporate offsites, especially since the visa relaxation last year. Now, there are early signs that the government and the Reserve Bank of India (RBI) may be pondering over popularising the local unit in the South-East Asian country. The central bank recently asked banks to share their inputs and expectations on the level of transactions linked to Thailand. Authorised dealer banks issuing foreign exchange have a fair idea of travellers’ destinations, besides having latest information on international card spends and trade invoices. “They have asked for our feedback. I think there are plans of some rupee arrangement with Thailand. It’s in the early stages, as far as we can make out,” a senior banker told ET.

resolution professional (RP) for the KSK Mahanadi Power has set April 26 as the date for fresh expressions of interest (EoI) to take over the 1800 MW power plant in a second round of bidding after plans by creditors Power Finance Corp (PFC) and Rural Electrification Corp (REC) to take over the company did not receive government approval. In a regulatory Form G which sets out the timeline for resolution, RP Suresh Binani has set June 18 as the final date for bidders to give a plan. The company owes creditors ₹32,240 crore out of which more than ₹29,000 crore is owed to financial creditors according to the latest list of creditors updated earlier this month. The Chhattisgarh-based power producer is a rare operational plant of its size available for a takeover in the country. As a result a half a dozen asset reconstruction companies (ARCs) have accumulated the debt from banks in the hope of finding good value from buyers. Out of the six units of 600 MW coal-based plant planned, three units of 600 MW are operational totalling 1800 MW.

Iceland has stood out as a catcall for Indian football fans. With a population of 3.82 lakh — about the population of Latur in Maharashtra in 2011 — its national football team features regularly in the highly competitive stratosphere of European tournaments. In the 2018 World Cup, it reached the group stage, drawing with Argentina in their opening match.

Abhishek Banerjee, I-T department sources claimed on Sunday that there was no enforcement action such as search or survey and the TMC leader wasn't even present in the chopper. To fulfil its mandate of coordinating with law enforcement agencies to ensure free and fair elections, a team of the income tax department was sent in «a routine manner» to collect information of the arrival of a helicopter at Behala Flying Club from Malda in West Bengal at around 1300 hrs on Sunday, the sources in the department said. The information of the arrival of the helicopter was received from the Air Traffic Control, they said adding that after collection of the required information, the officials of the department left the place. The helicopter, they said, was carrying two security personnel only.

Angel tax, taxation of Employee Stock Option Plans and bank guarantee commitments in tenders in the upcoming budget to be presented after the general elections. Further, the Centre is gearing up for a new World Bank assessment framework called Business Ready (B-READY), which would assess countries on everything from the start to the closure of a business. «There are four or five elements which they (startups) are a little concerned about. Mainly these are on issues like Angel tax, TDS ( tax deducted at source) there is some software related issue, on ESOP… getting into some kind of double taxation,» DPIIT secretary Rajesh Kumar Singh told ET in an interview.

India have demanded additional duty payments from about 45 major rice exporters due to imposition of 20% export duty, potentially disrupting future rice shipments from the country. The department has issued notices to these exporters for the September 2022 to January 30, 2023 period, and the tax demand could be about Rs 2,000 crore, said people aware of the development. Some port authorities are also asking rice exporters to pay customs duty before clearing shipments, the people said. ET has seen some of the notices. Several members of the All India Rice Exporters Association (AIREA) separately confirmed the notices. The association is likely to convey the exporters' grievances to the government before seeking legal remedy.

Mint looks at the implications for the rest of the world, including India. In a departure from its long-term policy, Iran attacked Israel directly late on Saturday taking tensions in the region to a new high. The attack was in response to the bombing of Iran’s Consulate in Damascus on 1 April, ostensibly by Israel, that killed senior Iranian military commanders.