Country Financial News

Canada Pension Plan Investment Board has eliminated about a dozen positions in its Greater China public equities team this week, representing close to 10 per cent of its Hong Kong staff, a person familiar with the matter said.

NEW DELHI : The legal vetting for a proposed free trade agreement (FTA) between India and Oman is nearly complete, with the deal likely to be signed in either the coming days or after the general election, two people aware of the matter said. "The government hopes to sign the pact before the announcement of dates for general elections, and in case it cannot be signed before the announcement, the government may nevertheless seek permission from the election commission to announce it as the FTA is in the interest of economy," said the first person mentioned above, who spoke under the condition of anonymity.

training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy. Muizzu also met Major General Zhang Baoqun, Deputy Director of the Office for International Military Cooperation of China, and President of the Export-Import Bank of China, Ren Shengjun separately. Earlier on Monday, the Maldives Ministry of Defence announced that a military assistance agreement has been signed by Defence Minister Mohamed Ghassan Maumoon and Major General Zhang. However, it did not reveal any additional details. This is the first time Maldives has signed a deal with China for military cooperation of this level. Previously, China had been exclusively known for its assistance towards urban and economic development of the Maldives, news portal Sun.mv said.

Canada’s biggest pension funds have largely rebuffed recent pressure to pour more of their billions of investment dollars into their home market, but a new campaign backed by 90 business leaders including chief executives of some of the country’s biggest companies appears set to escalate the debate.

By Nafisa Eltahir and Jana Choukeir

China has announced a 7.2% increase in its defence budget, crossing $230 billion, exceeding three times India's military expenditure. This rise comes despite a slowdown in China's economic growth and its refusal to de-escalate tensions along the Line of Actual Control (LAC) with India. Strategic Intent and Military Modernisation China's two-million-strong armed forces are rapidly modernizing to deter the US from interference, especially in Taiwan. Recent moves include strengthening conventional military and nuclear forces and strategic moves in the Indian Ocean Region (IOR), including a military assistance pact with the Maldives.

Haier is «buoyant» about the fast-growing Indian market where it aims to become the second largest player in the next five years, with increased investments in manufacturing and product portfolio expansion, the company's India President N Satish said on Wednesday. Haier Appliances India, a part of the Chinese multinational Haier Group, is investing around Rs 800 crore on capacity expansion here this year, and has also lined up future expansion plans, he said. The company is also increasing indigenisation, which is a key «thrust area» for the company, where it expects local souring to contribute up to 80 per cent across products in next two years. Haier India is also increasing exports from its Indian operations to other countries and is scouting for new markets in the Middle East and African countries, besides expanding its retail business in the domestic markets.

NEW DELHI : The Directorate General of Civil Aviation (DGCA) on Wednesday granted air operator’s certificate to Goa-based Just Udo Aviation Pvt Ltd to operate its airline Fly91. The grant of the air operator certificate marks the completion of all regulatory and compliance requirements for the airline to begin its commercial operations, the airline said in a statement. "We now look forward to commencing the sale of tickets leading to the start of commercial operations soon," managing director and chief executive officer of Fly91, Manoj Chacko said.

Shaktikanta Das, Governor, the Reserve Bank of India, says «given the uncertainties that we have, including weather-related events, we would like inflation to durably be around 4%. It cannot be just a one-off number or one-month number touching 4% which will give us satisfaction. It has to be sustainable and durable at around 4%. That will give us greater confidence, but the direction is very clear. Inflation is on a downward trajectory. Ever since you took over as the Governor of Reserve Bank of India, December 2018, is this the best macro and the economy set up we have seen? Shaktikanta Das: Yes, in a long time, not just in the last five years. Of course, in the last five years, we have seen several turbulent moments initially coming from the collapse of the IL&FS, followed by the COVID and many other external developments. So, we have gone through a very turbulent period.

state government is determined to uplift women power and more than 11 lakh women of the state will become 'Lakhpati Didi' in the next three years. Sharma was virtually addressing a function organised in Jaipur on the occasion of the conclusion of the nationwide 'Shakti Vandan Abhiyan'. According to an official statement, Sharma said under the guidance of Prime Minister Narendra Modi, the central and state governments are working with determination for the upliftment of women power. He said in the last 10 years, the central government has launched many schemes to empower women economically and socially.

Ministry of Coal on Wednesday said it has sought feedback from interested government as well as private entities for establishment of coal gasification plants in the country. The ministry said it has issued three draft request for proposals (RFPs) for consultation on coal gasification scheme. «Issued three draft RFPs to solicit feedback from interested government PSUs and private investors for the establishment of coal gasification plants in India,» it said in a statement. The stakeholders can provide their feedback and suggestions until March 20, it said.

Investing.com — European stock markets edged higher Wednesday in cautious trading, as investors awaited the U.K. Budget as well as congressional testimony from Federal Reserve Chair Jerome Powell, ahead of a European Central Bank rate-setting meeting later in the week.

Shahjahan Sheikh and others for allegedly attacking Enforcement Directorate (ED) officers during searches at Shahjahan Sheikh’s premises in January 2024. Meanwhile, the Crime Investigation Department (CID) in West Bengal, along with Chief Minister Mamata Banerjee-led West Bengal government has refused to handover Shahjahan Sheikh to the CBI.

The three services were launched from Dehradun's Jolly Grant Airport on Wednesday. CM Dhami inaugurated the event by lighting a lamp and cutting a cake.

BEIJING — China's top securities regulator vowed to «strictly» crack down on market manipulators, while stating that protecting small investors was a «core task.»

Motovolt Mobility is betting big on sales of its newly launched e-scooters for both passenger and cargo transportation in the country, a top company official said. The multi-utility e-scooter, manufactured at its Taratola factory, was launched on Tuesday. Adoption of electric mobility is increasing in the country, CEO of Motovolt Mobility Tushar Chowdhury said at the launch event here. Motovolt Mobility, which had earlier unveiled e-cycles, has entered into a technical collaboration with German company eROCKIT for the manufacture of e-scooters, priced at Rs 1,22,000.

Real Estate Sector of India has witnessed a growing and evolving demand amongst the ultra-rich NRIs. Their preferences, fuelled by an interconnected world, increased availability of sustainable options, world class infrastructure, and advantageous Price Differentials, make Real Estate investment in India a promising purchase for NRIs on multiple fronts. Per recent reports, there has been a 35% YOY rise in investments by NRIs in the Indian residential real estate market. Growing Interest in Indian real estate NRIs at large have witnessed a rise in income with higher paying jobs and flourishing businesses overseas. They are therefore looking at India as a great opportunity for real estate investment given the positive economical outlook for the country. These homes are lucrative rent generating assets for them as appreciation in India is higher than the other markets. The currency advantage also remains a catalyst to encourage investments from other countries.

Apple rolls out iOS 17.4 with third-party app support: 5 new features you should know With the onset of this new feature, Apple will automatically generate a transcript of a podcast soon after they are published. Users can then read the full text of an episode, easily navigate to the word or phrase they were looking for or even read along as the episode goes on.

BEIJING — China's central bank governor said there was room to further cut banks' reserve requirements, and pledged to utilize monetary policy to «mildly» prop up consumer prices.

Mint reported on 6 March. These road assets are expected to be brought under the IHCT.

By Maria Martinez