Country Financial News

By Maha El Dahan and Yousef Saba

Lok Sabha polls and whether what he stands for is for the good of the people of the country would be the subject matter of the elections, Rajya Sabha MP Kapil Sibal said on Sunday. In a video interview with PTI, Sibal also said the opposition INDIA bloc needs to come out with a joint vision document which entails what key issues are there before the country which need to be addressed. Asserting that no election is a done deal, Sibal quipped, «I don't know whether picture baki hai ki nahi lekin jo picture chal rahi hai woh desh ke liye theek nahi hai (I don't know whether or not there is more to the film but the one that is playing is not good for the country).» Asked about the Indian National Developmental Inclusive Alliance (INDIA) losing its way with JD(U) chief Nitish Kumar crossing over to the NDA and TMC supremo Mamata Banerjee saying her party will go solo in the polls, Sibal said negotiations with Banerjee were still on and that was not an issue.

Mobile phone manufacturing in value terms jumped 21-fold to Rs 4.1 lakh crore in India in the last 10 years as government policy measures like PLI played a critical role in attracting global players to boost local production, industry body ICEA said in a statement. India now produces 97 per cent of its total mobile phone demand locally and 30 per cent of the total production in financial year 2024 is meant for export, the India Cellular and Electronics Association said. «Mobile phone production surged from Rs 18,900 crore in 2014-15 to an estimated Rs 4,10,000 crore in FY'24, registering an increase of 2000 per cent. In 2014-15, mobile phone exports from India were a mere Rs 1,556 crore. The industry expects to end FY24 with an estimated export of Rs 1,20,000 crore. This would mean a 7500 per cent increase in exports over a decade,» ICEA said. According to a note on manufacturing, in the field of smartphones, Apple and Samsung, have played a crucial role in boosting mobile phone exports from the country.

Actor and Big Boss contestant Sambhavna Seth, who joined the Aam Aadmi Party (AAP) over a year ago, has quit the party. Seth, while taking to the X, said that she quit Arvind Kejriwal's party after 'realising her mistake'. «I joined the Aam Aadmi Party a year back with a lot of enthusiasm to serve my country. But, no matter how wisely you take a decision, you could still go wrong, because at the end of the day, we are humans. Realising my mistake I officially declare my exit from AAP,» she said.

Rahul Gandhi for casting aspersions on 'Modi Ki Guarantee' (PM Modi's guarantees), expelled Congress leader Acharya Pramod Krishnam on Sunday said a person, who has lost his mental bearings, can say anything. Speaking to on Sunday, Acharya Krishnam also lamented the bulk exits and desertions from the grand old party, saying the Congress has been reduced to an 'anti-Ram' and 'anti-Sanatan' party, which is why it losing leaders and members to rivals. On Rahul's claim that there was 'no guarantee' that PM Modi would return to office for a third straight term, the expelled Congress leader said, «See, a person, who has lost his mind, can say anything. As we have seen with children, they often ramble on without making much sense. One need not take the words of a child or a senseless person seriously.»

Russia is expected to cement President Vladimir Putin's grip on power until at least 2030. Any opposition figures who could have challenged him are either in prison or exiled abroad. Independent media outlets that could show criticism of his policies have been blocked. And the Kremlin maintains rigid control over the political system and electoral process in the country of 146 million.

India and four-nation European bloc EFTA on Sunday signed a free trade agreement to help promote investments and exports of key domestic services sectors such as IT, audio-visual, and movement of skilled professionals. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Union Minister Piyush Goyal, quoting PM Narendra Modi, said, «Despite structural diversities in many aspects, our economies possess complementarities that promise to be a win-win situation for all nations. With the opening up of enormous trading and investment opportunities, we have reached a new level of trust and ambition. The trade agreement symbolizes our shared agreement to open fair, equitable trade, as well as generate growth and employment for the youth.»

Congress party expressed concern over the resignation of Election Commissioner Arun Goel, warning against the «systematic decimation» of independent institutions that could lead to the erosion of democracy. Goel resigned just ahead of the anticipated announcement of the schedule for the 2024 Lok Sabha elections. Congress President Mallikarjun Kharge questioned the circumstances surrounding Goel's resignation, emphasizing the reduction of the Election Commission to only one Commissioner while crucial elections loom. He warned that if the trend of weakening independent institutions persists, democracy in India may give way to dictatorship.

Indian Oil Corporation (IOC) has now set sight on the Grand Prix and will in next three months start producing fuel used in adrenaline-pumping Formula One or F1, motor racing. The firm's refinery at Paradip in Odisha will in three months produce the petrol used in F1 car racing, its chairman Shrikant Madhav Vaidya said. IOC, the country's largest oil firm controlling roughly 40 per cent of fuel market share, will be the first Indian company and only a handful globally that will produce fuel used in F1 racing. Vaidya said the company expects to get its Formula 1 fuel certified in around three months, after which it will start competing with other global majors like Shell to supply it to the F1 teams.

China, Xi Jinping appears imperiously assured that he possesses the right road map to surpass Western rivals. China's economy has lurched into a slower gear. Its population is shrinking and aging. Its rival, the United States, has built up a lead in artificial intelligence. Xi's pronouncement several years ago that the «East is rising and West is declining» — that his country was on the way up while American power shrank — now seems premature, if not outright hubristic.

Zardari, was resoundingly elected as Pakistan's 14th President on Saturday, making history as the nation's only civilian leader for a second time. Zardari, the co-chairperson of the Pakistan Peoples Party, was the joint candidate of the ruling alliance of the PPP and the Pakistan Muslim League-Nawaz (PML-N).

The study uses a Mental Health Quotient (MHQ) to assess various aspects of mental health. Participants are categorized based on their scores, ranging from «thriving» to «distressed.» In the rankings for 2023, the Dominican Republic topped the list with the highest average MHQ (91), followed by Sri Lanka (89) and Tanzania (88). Conversely, Uzbekistan had the lowest average MHQ (48), with the UK following closely at 49.

Test Cricket Incentive Scheme' - starting from the 2022-23 season - cricketers who play 75 per cent or more of scheduled Test matches will receive an additional incentive of ₹45 lakh per match. The scheme was announced by BCCI secretary Jay Shah in a post on X (formerly Twitter), where he informed that the latest measure is aimed at providing financial growth and stability to the country's 'esteemed sportsmen'.

Kazakhstan with its hackers penetrating the telecom sector of the region’s biggest country. Kazakhstan’s National Computer Emergency Response Team (Cert.kz), has recently alleged that a group of Chinese hackers had access to the infrastructure of Kazakhstani telecommunication operators for two years, according to persons familiar with the development. Kazakhstan’s Ministry of Defence and the country’s national airline may have been one of the targets. At least one Chinese hacker group had full access to the critical infrastructure of Kazakhstani telecommunication operators in the past two years. The Kazakh Digital Development, Innovation and Aerospace Industry Ministry said in a statement on 20 February 2024 that it has, together with the National Security Committee, (KNB), begun analyzing the leaked information to learn more.

Antony Blinken, spoke with Kenyan President William Ruto on Saturday to discuss the ongoing political and security crisis in Haiti. During their conversation, both leaders reiterated their commitment to ensuring free and fair elections in the region. «Secretary of State Antony J. Blinken spoke with Kenyan President William Ruto to discuss the ongoing political and security crisis in Haiti. They underscored unwavering commitment to the deployment of a Multinational Security Support mission to support the Haitian National Police in creating the security conditions necessary to conduct free and fair elections,» US Department of State official spokesperson, Matthew Miller said in an official statement.

Arun Goel before the Lok Sabha elections, emphasizing the widespread concern across the nation regarding the upcoming Lok Sabha polls. Congress General Secretary KC Venugopal also slammed the Centre and said that the government is uninterested in ensuring a transparent and impartial electoral process. Also Read: Lok Sabha polls LIVE The resignation of Election Commissioner Arun Goel was announced on Saturday and subsequently accepted by the President.

India has more than 820 million active internet users at present. Over half of them — 442 million — now come from rural parts of the country. In 2023, internet penetration grew eight per cent year-on-year. A new report shows that Indians’ internet behaviour and activities are changing in several ways.

Ramadan began on Sunday, people in Pakistan are bracing themselves for a hike in essential commodities, including food items, The Express Tribune reported. According to the report, the country already records a two to three-fold inflation in the prices of essential kitchen items, including vegetables, sugar, edible oil, ghee, meat, eggs, and pulses.

The federal government is reducing its nationalbeer tax that was set to increase on April 1, Finance Minister Chrystia Freeland announced Saturday.

skydiving in Madhya Pradesh, exploring a “seabeach” in Rajasthan or going on a temple trail in Goa? You could even board a special tourist train to cover lesser-known spots in Uttarakhand. State tourism departments across the country are working on promoting new destinations and activities in a bid to attract more travellers, said officials. While Goa, for instance, wants tourists to explore more of the coastal state beyond its beaches, Rajasthan wants to develop destinations other than forts and palaces, they said.

Welcome to skijoring: an extreme — and quirky — winter sport that celebrates the unlikely melding of rodeo and ski culture in the U.S. Mountain West. It's a heart-pumping, white-knuckle competition in which horses — and sometimes dogs, snowmobiles and even cars — tow skiers by rope at speeds that can top 40 mph (64 kph) over jumps as high as 8 feet (2.4 meters) and around obstacles as they try to lance suspended hoops with a baton, typically a ski pole that's cut in half.