Country Financial News

By Joe Cash, Ellen Zhang and Kevin Yao

India's textile industry, 26 February was a big day, marking a significant milestone with the inauguration of the Bharat Tex Expo at Bharat Mandapam (IECC) in the national capital by Prime Minister Narendra Modi. The expo, celebrated as the world's largest textile event, attracted over 3,000 exhibitors, 3,000 buyers, and 40,000 visitors from more than 100 countries.

Monterrey, Mexico Outside this city, 150 miles south of the Texas border and in the shadow of the Sierra de Santa Catarina, is a cactus-dotted field. If all goes well, this unassuming site will be home to Tesla’s Giga Mexico, which could become the world’s largest electric-vehicle factory. The project promises thousands of jobs and as much as $15 billion in investment from Tesla and its suppliers.

Mint explains why the Opec+ has curbed output and the demand outlook for the world. Crude oil price (Brent) has stayed below $100 a barrel since August 2022, after the sharp rise in the early days of the Russian invasion of Ukraine. While it has largely held above $80, the price dipped to the low seventies a few times in the past year.

Regalia Gold Credit Card members entitles you to two complimentary flight tickets. You also get a complimentary membership for Club Vistara Silver Tier and Make My Trip Black Elite, using which you can gain access to all the member benefits of these two coveted platforms. The best part is that this is a welcome benefit, which you can avail as soon as you spend an amount of ₹1 lakh within 90 days of the credit card being issued to you.

rural India, Sharmila Yadav always wanted to be a pilot and is now living her dream remotely, flying a heavy-duty drone across the skies to cultivate the country's picturesque farmlands. Yadav, 35, is among hundreds of women trained to fly fertiliser-spraying aircraft under the government-backed «Drone Sister» programme. The scheme aims to help modernise Indian farming by reducing labour costs, as well as saving time and water in an industry hamstrung by its reliance on outdated technology and growing climate change challenges.

Eurobank is looking to establish a presence in India and is in the process of consulting with advisors and the Reserve Bank of India to open a representative office in Mumbai, said people close to the bank. With 80.5 billion euros of assets and 540 branches across Greece, Cyprus, Bulgaria, Luxembourg and UK, the bank, which has a robust corporate client-focused business in these countries, aims to serve the needs of Indian businessmen looking for a commercial presence in Europe. “Trade relations between Europe and India are on the cusp of taking off. We aim for Eurobank to become a key facilitator and the banking partner of choice for Indian businesses considering establishing a local hub in Greece or Cyprus to gain a footing in the EU market,” said Fokion Karavias, chief executive officer, Eurobank.

Elon Musk in a social media post on X criticized United States President Joe Biden referring to a news report which says «Biden administration ADMITS flying 320,000 migrants secretly into the US to reduce the number of crossing at the border has nation security vulnerability.» Elon Musk said «This administration is both importing voters and creating a national security threat from unvetted illegal immigrants. It is highly probable that the groundwork is being laid for something far worse than 9/11. Just a matter of time.» Musk reposted a X user post which said «This is insane. The Biden administration admits to transporting 320,000 illegal aliens on secret flights into the U.S. to reduce the number of crossings. Lawyers for its immigration agencies claim revealing the locations could create national security “vulnerabilities.”

KUALA LUMPUR (Reuters) — Malaysia is expecting Australian companies to invest up to 24.5 billion ringgit ($5.17 billion) in the country, state news agency Bernama reported on Wednesday, citing Prime Minister Anwar Ibrahim.

youth ahead of the Lok Sabha elections, Congress leader Rahul Gandhi is likely to announce a 10-point poll promise for the youth and unemployed people of the country in a rally in Madhya Pradesh on Wednesday, according to the sources. According to sources, the Congress MP will announce the poll promises in the rally that will be addressed by him and Congress President Mallikarjun Kharge in Badnawar District of Madhya Pradesh today. With election season fast approaching, the Congress Election Committee (CEC) headed by Kharge is likely to meet on Thursday to finalise candidates for a clutch of states like Kerala and Karnataka. The BJP has so far announced 195 candidates.

Ritesh Jain, Global Macro Trader, says India had leapfrogged manufacturing and directly went into services because of digital infra and English-speaking population. Data show services create 20% of the jobs created by manufacturing. That is why we have a jobless recovery and wealth concentrated in metros. Now, India is going back to the drawing board and manufacturing will start pulling its weight because of government focus, PLI schemes, China plus one, etc. This will lead to broad-based prosperity due to job creation and real estate prices in tier II, tier III cities will outpace those of metros. What kind of structural changes are you witnessing in the Indian economy right now? Ritesh Jain: I believe the structure of the Indian economy is changing.

India's first under-river metro tunnel built in Kolkata on Wednesday. In a monumental development set to transform urban transportation, PM Modi is slated to inaugurate several key metro and rapid transit projects across countries, marking a significant stride towards enhancing urban mobility and connectivity. The Kolkata Metro extension, featuring the Howrah Maidan-Esplanade Metro section, includes the first transportation tunnel in India to pass under a major river, representing a critical milestone in the country's infrastructure development.

Investing.com-- Oil prices fell slightly in Asian trade on Wednesday amid persistent concerns over slowing demand this year, although steady production cuts by the OPEC+ and little de-escalation in the Israel-Hamas war heralded tighter supplies.

Indian Navy is set to commission Naval Detachment Minicoy as INS Jatayu today – March 6. The move aims to bolster security infrastructure at the strategically crucial Lakshadweep Islands, officials told PTI. Established in the early 1980s, Naval Detachment Minicoy operates under the command of the Naval Officer-in-Charge (Lakshadweep).

Union Cabinet cleared the proposals entailing investments of $15.14 billion, officials told ET. The projects include an $11 billion semiconductor fab facility, the country's first, to be built by the Tata Group in at Dholera in Gujarat. The other unit proposed by the conglomerate involves a Rs 27,000 crore chip assembly, testing, marking and packaging facility at Morigaon in Assam. Murugappa Group's CG Power will be setting up a chip assembly facility at Sanand in Gujarat at a cost of Rs 7,600 crore.

By Alexandra Ulmer and Nathan Layne

By Stella Qiu

SAO PAULO (Reuters) — Japanese auto maker Toyota (NYSE:TM) officially announced on Tuesday an 11 billion real ($2.22 billion) investment in Brazil, saying it will be made in two parts by 2030, and include the output of a new vehicle specially designed for the country's costumers.

Ravichandran Ashwin is set to complete 100 Tests in the fifth and final match of England’s tour starting Thursday in Dharamsala. Here is what he said about the landmark: ON 100TH TEST

In 1919, Max Weber delivered a lecture titled “Politics as a Vocation," in which he argued for the first time that the state has a monopoly over the use of physical force. He was looking for a way to justify the state’s use of force and chose to do so by elevating it to the level of a crucial feature of the social contract. In those days, authority was manifest through tangible expressions of control—institutions like the police and military, and coercive constructs like laws and regulations.