Country Financial News

shares on Dalal Street over those in Shanghai. Since January 2021, India's weight in the MSCI Standard Index has more than doubled from 8.9% to 18.2%, whereas China's weight has declined from 40.1% to 25.4% during the same period. This is the shortest-ever gap between the weights of stocks of the two countries. Analysts expect this gap to shrink further with the likelihood of higher flows into India as economic uncertainty in China is driving overseas fund managers out of the country.

By Makini Brice

In a display of continued energy in its growth and recruitment strategy, Commonwealth logged a second consecutive year of record results in 2023.

PM Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. The BIT will be a key enabler for further promoting investments in both countries. India has signed both BIT and Comprehensive Economic Partnership Agreement with the UAE. The agreement on interlinking of the instant payment platforms — UPI (India) and AANI (UAE) — will facilitate seamless cross-border transactions between the two countries. This follows the MoU on interlinking payment and messaging systems signed in July last year during PM Modi's visit to Abu Dhabi.

National Aluminium Company Ltd on Tuesday reported an almost two-fold rise in consolidated profit to Rs 470.61 crore for the quarter ended on December 31, 2023. The company had posted a consolidated profit of Rs 256.32 crore in the October-December quarter of FY2022-23, Nalco said in a filing to BSE. Total income during the quarter under review rose to Rs 3,397.87 crore from Rs 3,357.71 crore in the year-ago period.

diplomacy and statecraft are best executed by «our very able leaders», Shah Rukh Khan's office said on Tuesday, dismissing speculation that the star was involved in the release of eight jailed former Indian Navy personnel from Qatar. Qatar on Monday released the Indian Navy veterans who were sentenced to death and whose sentences were commuted to jail terms of varying duration. Seven of them have returned home. Speculation that Shah Rukh, who enjoys massive popularity in Qatar and recently met the country's prime minister Mohammed bin Abdulrahman bin Jassim Al Thani in Doha during an event, played a role in the release of the jailed Indians was rife on Tuesday. Former MP Subramanian Swamy's claim in a post on X that the actor had intervened in the matter circulated widely on social media platforms. Shah Rukh was trending on X for much of the day.

BYD (BYDDF (OTC:BYDDF)), China's EV manufacturing giant and the archrival of Tesla (NASDAQ:TSLA) in the country, is considering building a factory in Mexico, according to a report by Nikkei.

By Dave Sherwood and Marianna Parraga

Indian Prime Minister came as the relations between both nations are at an all-time high with trade reaching over $85 billion in 2022-23. Among the Gulf nations, UAE has the largest Indian expatriate community with 3.5 million Indian nationals living in the country. 1.

Narendra Modi on Tuesday told the Indian diaspora at the 'Ahlan Modi' event in Abu Dhabi that he has come to meet his family members in the gulf country, adding that he has brought the fragrance of the soil where they were born. The Indian prime minister, who was addressing the Indian diaspora at Sheikh Zayed Stadium said that he has brought the message of 140 crore brothers and sisters of the country where they (the Indian diaspora) were born and the message is that India is proud of them, they are the pride of Bharat. Thanking UAE's President Sheikh Mohamed bin Zayed Al Nahyan for the warmth and hospitality extended to him, the prime minister said India-UAE relations reaching unprecedented heights, and both the countries are partners in each others' progress.

₹178 crore in the December quarter on the back of all-round growth in fee-based businesses. The wealth management firm had posted a net profit of ₹90 crore in the year-ago period. The firm's revenue rose 38 per cent in the period under review to ₹558 crore, while it rose 29 per cent to ₹1,467 crore for the first nine months of the fiscal.

₹10,000 every month in an equity mutual fund (MF) for 20 years, they would get around ₹1 crore assuming an annual growth rate of 12%. However, the gains would be subject to 10% long-term capital gains taxation, which would be around ₹7.6 lakh. Debt MFs are taxed at a higher rate based on the investor’s income tax slab rate.

After the U.S. dropped a broad array of sanctions against Venezuela in October, it warned that it could reimpose all of them, except one. The White House admitted that its ban on buying Venezuelan bonds was a failure that had potentially benefited enemies of the U.S.

NEW DELHI : India and the UAE concluded a bilateral investment agreement and also signed a framework agreement on the India-Middle East Economic Corridor (IMEC) during Prime Minister Narendra Modi’s two-day visit to the UAE. Modi met with his counterpart, UAE president Mohamed bin Zayed Al Nahyan, on Tuesday for both one-on-one and delegation-level talks. The bilateral investment agreement came after the two countries signed their Comprehensive Economic Partnership Agreement (CEPA) in 2022.

NIA court here on Tuesday framed charges, including under the anti-terror law UAPA, against nine people accused in the murder case of Udaipur tailor Kanhaiya Lal. Kanhaiya Lal was hacked to death at his shop in the busy Hathipole area of Udaipur on June 28, 2022 by two cleaver wielding men for allegedly supporting a social media post against Islam. The two accused, Mohammad Riyaz and Mohammad Gause, had also made a video of the act and posted it online, which sent shockwaves across the country. The case is being investigated by the National Investigation Agency (NIA).

The release of eight former Indian Navy personnel from Qatar, who had previously faced the death penalty on espionage charges, is a significant triumph for India's diplomatic efforts in West Asia. This development comes just days before Prime Minister Narendra Modi's visit to the United Arab Emirates and then his subsequent travel to Doha, Qatar, and underscores the strengthening economic and strategic relationships between India and the Gulf nations in recent years.

Mint in an interview. He also added that there are plenty of lessons the industry can learn from the Byju's fiasco. GSV has invested in Indian edtech companies including Physics Wallah, Lead Schools and Apna and manages about $800 million in assets.

Narendra Modi received a warm welcome outside his hotel in Abu Dhabi on Tuesday after he arrived in the Gulf country to inaugurate the first Hindu temple in the United Arab Emirates' capital city and participate in the World Government Summit. Members of the Indian diaspora in Abu Dhabi lined up outside the hotel where the Indian prime minister was scheduled to stay and raised slogans of 'Modi-Modi, Modi Hai to Mumkin Hai and Bharat Mata ki Jai' as PM Modi arrived there. The Indian prime minister also warmly greeted the passionate Indian diaspora with namastes and shook hands with some of the members.

A special “Aastha” train, carrying approximately 2,000 pilgrims bound for Ayodhya in Uttar Pradesh, was inaugurated from Goa. The flagging off ceremony, held on Monday evening at Thivim railway station in North Goa district, saw the presence of Chief Minister Pramod Sawant, state BJP president Sadanand Shet Tanavade, and other MLAs. Chief Minister Sawant expressed his excitement about the journey, stating that the entire Goa Cabinet will visit the Ram Mandir on February 15.

The Ministry of External Affairs revealed today that Unified Payment Interface (UPI) services are now accessible in Sri Lanka and Mauritius. Prime Minister Narendra Modi participated in a virtual event marking the introduction of UPI and RuPay card services in these countries.

«We are targeting $300 billion in production and around $100 billion in exports in the next few years. The ecosystem which is developing is giving us a lot of confidence because now the component manufacturers have started shifting to our country,” Information and Technology Minister Ashwini Vaishnaw said at the ET Now Global Business Summit 2024 a few days ago.. With a huge 22% boost in electronic exports in FY24 which breached the $20 billion mark, the IT Minister believes the target of achieving $100 billion exports in the coming few years is a visible thing. Electronics exports were at $7.6 billion in 2013-14 and $22.7 billion in 2022-23, as per the White Paper issued by the government.