Country Financial News

By Adriana Barrera and Cassandra Garrison

NEW DELHI : A World Bank agency is prepared to stand guarantor for up to $8 billion of loans taken by state-owned infrastructure builders and local government bodies, a move that could attract private capital in a whole range of public projects. In an interview, Junaid Kamal Ahmad, vice-president, operations at the bank’s Multilateral Investment Guarantee Agency (MIGA), said the agency’s focus on underwriting loans aligns with India’s infrastructure development strategy at the national and sub-national levels, covering sectors like logistics, transport, electricity and water.

NEW DELHI : The four nations making up the European Free Trade Association (EFTA) have offered duty-free market access for India’s animal products, fish, processed food and vegetable oils in a trade pact that is expected to be signed next week, two people aware of the matter said. The EFTA nations—Iceland, Liechtenstein, Norway and Switzerland—have also proposed $100 billion of investment in India by their companies over 15 years, which could create about a million jobs, the people said on the condition of anonymity. The two sides began negotiations for a trade treaty in 2008.

The European Union and Germany say they will give Albania nearly $88 million to turn the three main bus lines in the capital Tirana electric, part of helping the Balkan country meet requirements to join the 27-nation bloc

The government's new free electronic filing system for income tax returns is getting its first users this filing season

By David Milliken

7th Time Loop Season 1 Episode 10 have been announced. The anime follows Princess Rishe as she navigates her seventh life, aiming for a carefree existence despite past tragedies. Here's a detailed look at what to expect in the upcoming episode.

India will grow more than five-fold to $50-60 billion in the coming time from about $11 billion last year, IT and Communications Minister Ashwini Vaishnaw said on Wednesday. While speaking at a fintech event, the minister said employment in the electronics manufacturing sector will increase from about 10 lakh at present to 25 lakh in the coming days. He said that 10 years ago India imported 98% of mobile phones and at present 99% of the devices are made in India.

Trinamool Congress for its «grave sin» in Sandeshkhali, Prime Minister Narendra Modi on Wednesday said that the «aakrosh (storm) of narishakti» in Sandeshkhali will not be restricted to Sandeshkhali alone but will sweep across West Bengal. Addressing a public rally in Barasat, he slammed Trinamool's political culture and reluctance to act on issues like Sandeshkhali, calling its inaction in Sandeshkhali as «ghor paap» (grave sin). «Trinamool's politics is such that mothers and sisters were tortured and assaulted in Sandeshkhali but the party did not pay any heed to it. They have committed a 'ghor paap' (grave sin). What has happened in Sandeshkhali, any one will lower their heads in shame. But it makes no difference to the Trinamool Congress,» Modi said.

Also Read: US sanctions threaten Russian oil sales to India; complicate process for OMCs to secure annual deals: Report Oil has found support in 2024 from rising geopolitical tensions and Houthi attacks on Red Sea shipping, although concern about economic growth has weighed. While OPEC+ was widely expected to keep the cuts in place, Russia's announcement could bolster prices further. -Boost crude oil prices: The oil supply cuts first announced in 2023 as part of an agreement among oil producers to boost prices following economic uncertainty.

Also Read: Explained | Why did OPEC+ members extend oil output cuts to mid-2024 Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a March 19 expiry, was last trading 2.42 per cent higher at ₹6,638 per bbl, having swung between ₹6,484 and ₹6,671 per bbl during the session, against a previous close of ₹6,481 per barrel. -The Organisation of Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia and Russia agreed earlier this week to extend voluntary oil output cuts of 2.2 million barrels per day (bpd) into the second quarter or mid-2024.

demand a law to fix a Minimum Support Price (MSP) for their crops, in addition to other concessions including the waiving of loan. However, farmers suspended their march after violence and clashes between farmers and Delhi police were reported at borders on February 24. Farmers then planned to resume their protest on Wednesday, March 6, urging farmers across India to head for Delhi by bus and train since their tractors had been blocked.

Canada and the U.S. is set to spring ahead to daylight saving time (DST) this Sunday.

The Treasury Department says it has sanctioned two people and a Greece-based commercial spyware company headed by a former Israeli military officer that developed and distributed technology used to target U.S. government officials, journalists and poli...

Italian lawmakers have approved the country’s participation in an EU naval mission to protect cargo ship in the Red Sea from attacks by Houthi rebels in Yemen threatening maritime traffic

New York Attorney General Letitia James has sued a cash-advance operation based in the state, claiming it exploited struggling small businesses across the country by issuing fraudulent loans

South Korea’s president vows that he won't tolerate the prolonged walkouts by junior doctors, calling them “an illegal collective action” that threatens public health

Egypt has floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan to $8 billion

24/7 monitoring system for the Maldivian waters this month to ensure control of its Exclusive Economic Zone (EEZ) despite its significantly large area. Speaking at a ceremony at one of the islands that he was visiting on Monday, Muizzu said, the Maldives Ministry of Defence is making efforts to obtain the facilities required for conducting the hydrographic surveys by the country itself. “This will allow Maldives to conduct the underwater surveys of the country by ourselves.

women in India aspire to start their own business, reflecting a strong desire for financial independence and self-reliance, according to a report from PayNearby, a branchless banking and digital network, The report «PayNearby Women Financial Index (PWFI)»is based on a survey among over 5,000 retail stores in the country recording financial transactions of women consumers as observed in those outlets. It highlights the preference for biometric authentication, with over 95% of female customers opting for Aadhaar Enabled Payment System (AePS) for cash withdrawal. While cash remains the favoured mode of transaction, with 48% of women favoring it, Aadhaar-led transactions and UPI QR codes are gaining momentum in double digits.

Indian Oil Corporation Ltd (IOC) — the nation's top oil firm — will in three months start manufacturing fuel used in adrenaline-pumping Formula One or F1, motor racing as it looks to expand its basket of niche fuels. IOC, which already has three branded fuels, including high-selling XtraGreen diesel, on Wednesday unveiled 'Storm' petrol that it will supply for the Asian region motorcycle road racing championship. «Today, we are partnering with FIM Asia Road Racing Championship for the supply of 'Storm'. We are the first company in India to manufacture fuel of specifications used in road racing,» IOC Chairman Shrikant Madhav Vaidya said. IOC will supply fuel for all the motorcyclists from 15 countries that will participate in the FIM Asia Road Racing Championship.