Country Financial News

China’s dominance in electronics exports in some key markets as manufacturers diversify supply chains away from the world’s factory to other parts of Asia, a new study shows. The impact is most pronounced in the UK and US, where geopolitical tensions with China have increased in recent years. India’s electronics exports to the US as a ratio of China’s increased to 7.65% in November last year from 2.51% in November 2021, according to London-based Fathom Financial Consulting. In the UK, the share rose to 10% from 4.79%.

Microsoft co-founder Bill Gates visited the tech giant's India Development Center (IDC) in Hyderabad, the company said. Gates addressed some of India's brightest engineering minds at the IDC, Rajiv Kumar, managing director, Microsoft IDC, and CVP, experiences + devices India said as he shared Gates' «optimism over the opportunity for an AI-powered India». «History comes full circle as philanthropist and Microsoft co-founder Bill Gates paid a visit to the Microsoft India Development Center (IDC)...a center of innovation he envisioned in 1998,» the company said in a note capturing Gates' Tuesday visit.

KKR & Co. is exploring options including selling its controlling stake in India’s JB Chemicals & Pharmaceuticals Ltd. amid interest from potential buyers, according to people familiar with the matter. The US private equity firm is looking to hire financial advisers to help evaluate a sale of its 53.8% stake in the Mumbai-based company, the people said, asking not to be identified as the matter is private. Other buyout firms and industry players have shown preliminary interest in buying KKR’s stake, the people said. Shares of the company, which is known as JB Pharma, have climbed 68% in the past 12 months, valuing the firm at just over $3 billion.

BEIJING — China is beefing up national security measures by expanding its protections of state secrets to include a broad category of «work secrets.»

Jesper Brodin, Global CEO of Ikea's franchisee holding company Ingka Group. Acknowledging that India is a "challenging market", Brodin in an interview with The Economic Times said it is tough "keeping up with the rapid development of digital and physical infrastructure in the country". “It has been interesting to see the speed of development over the last five to ten years.

India’s position remained unchanged at 42 at the International IP Index 2024 compared to 2023, with no change even on the index score which stood at 38.64% since 2022, the US Chamber of Commerce said in a report released on Wednesday. The index ranks 55 countries on their intellectual property (IP) regime. The top countries on the index were the USA (95.48%), UK (94.12%), France (93.12%), Germany (92.46%), Sweden (92.12%), Japan (91.26%), Netherlands (91.24%), Ireland (89.38%), Spain (86.44%) and Switzerland (85.98%).

DMK in Tamil Nadu, accusing it of not cooperating in Central schemes and criticised it over walking out in the Parliament during a discussion on the Ayodhya Shri Ram temple. The DMK's 'running away' shows its 'hatred' for people's faith, Modi said in an apparent reference to the opposition walkout when the Parliament took up the matter. He lashed out at DMK and its ally Congress, alleging they created rift among people and slammed them for dynasty politics. «Tamil Nadu's connect with Shri Ram is well-known. Before the January 22 consecration of the Ram temple in Ayodhya, I visited different temples, including in Dhanushkodi (in TN). The entire country was happy that the temple was coming up after so many years. A related matter came up in the Parliament but the DMK MPs ran away,» Modi said, addressing a public rally here.

Also Read Govt to rope in PSUs for solar rooftop initiative; households can get rent According to the latest government data, power consumption in the country has risen to 1354.97 billion units (BU) during the April-January period of this fiscal year, marking a 7.5% increase from 1259.49 BU recorded during the same period in fiscal year 2022–23. The significant increase in power demand has prompted the government to revise its projections for electricity consumption. Also Read: Best renewable energy stock: KP Energy vs Inox Wind Last year, peak demand soared to 243 gigawatts, exceeding initial projections of 229 gigawatts by the power ministry.

One Vehicle, One FASTag" initiative to discourage users from using a single FASTag for multiple cars or associating multiple FASTags with a single vehicle. NHAI has asked people to update their FASTag before the February 29, 2024 deadline.

Giridhar Aramane and German Ministry of Defence State Secretary Benedikt Zimmer chaired the India-Germany High Defence Committee (HDC) meeting in Berlin on Tuesday. The two sides discussed a range of bilateral security and defence issues, with a focus on developing the defence cooperation as a key pillar of the Strategic Partnership between India and Germany. Giridhar Aramane and Benedikt Zimmer held talks on the regional situation and discussed on potential defence industrial projects and proposals, according to Ministry of Defence press release. The two sides stressed on the need for a closer defence partnership and connecting defence industries of India and Germany. In a press release, Ministry of Defence stated, «They exchanged views on the regional security situation, discussed likely joint exercises with Germany in the Indo-Pacific, and deliberated on potential defence industrial projects and proposals.»

renewable energy capacity, it faces a conundrum, despite targets for renewable power generation, the nation is poised for significant growth in fossil fuel-fired power generation in the coming years. This dilemma, highlighted by BP chief economist Spencer Dale, underscores the mounting sense of «frustration and anger» in developing economies over Western-imposed climate policies. «Even if that happens, the country will still need to boost coal- and/or gas-fired generation to meet forecasts of energy demand growth», Dale said.

Investing.com-- Hong Kong-listed Chinese property stocks fell on Wednesday, coming under pressure from renewed concerns over a real estate meltdown after Country Garden (HK:2007) was slapped with a liquidation petition. 

Investing.com-- Most Asian stocks kept to a tight range on Wednesday amid persistent caution over higher-for-longer U.S. interest rates, with Japanese indexes pulling back from record highs as a tech-driven rally cooled. 

Investing.com-- Oil prices fell slightly in Asian trade on Wednesday, coming under pressure from signs of a massive weekly build in U.S. inventories and a potential ceasefire between Israel and Hamas. 

By Andrea Shalal

National Science Day is celebrated across India on February 28 to honor the discovery of the Raman Effect by physicist Sir CV Raman in 1928. The Raman Effect is the inelastic scattering of light by molecules, a discovery that earned Raman the Nobel Prize in Physics in 1930, making him the first Asian to receive the prestigious award in any branch of science. History of National Science Day In 1986, the National Council for Science and Technology Communication (NCSTC) proposed to the Government of India that February 28 be designated as National Science Day. Since 1987, this day has been celebrated to commemorate the discovery of the Raman Effect and to promote scientific temper in the country.

G20 finance ministers will meet Wednesday in Brazil, seeking ways to shore up a global economy whose nascent recovery is threatened by a raft of conflicts and crises, including the wars in Ukraine and Gaza. The Ukraine war could take center stage at the meeting, with G7 countries due to meet on the sidelines to discuss shoring up Western support against Russia's invasion — including what US Treasury Secretary Janet Yellen called an «urgent» proposal to use frozen Russian assets to increase aid for Kyiv.

Germany and Poland affirmed Tuesday that they would not be sending troops to Ukraine, after reports that some Western countries may be considering doing so as the war with Russia enters its third year. The head of NATO also said the U.S.-led military alliance has no plans to send troops to Ukraine, after other central European leaders confirmed that they too would not be providing soldiers. The Kremlin, meanwhile, warned that a direct conflict between NATO and Russia would be inevitable if the alliance sends combat troops. «In this case, we need to talk not about probability, but about the inevitability (of conflict),» Kremlin spokesman Dmitry Peskov told reporters.

ANI. As per the report, the will be held under the chairmanship of BJP President JP Nadda. Home Minister Amit Shah, BJP President JP Nadda, BL Santosh, and state officials and chief ministers, among others, will be present in the meeting.

Article 370 Box Office Collection Day 5: Article 370, Yami Gautam's latest movie, has been doing consistent business at the box office since its release. After having passed the Monday test and earned ₹3.25 crore net on February 27, the Bollywood movie earned ₹3.25 crore net on Tuesday as well. The movie was released on February 23 and collected ₹5.9 crore net in India.

Nigeria’s government employees and other union workers have begun a new nationwide strike that threatens to shut down key services while people are angry about soaring inflation and growing economic pain