Country Financial News

A diplomatic rift between Ecuador and Russia appeared to intensify over the weekend after the European nation decided to ban some imports of bananas from Ecuador

Transak is tapping into Visa Direct, meaning that its users in over 145 countries can convert more than 40 different cryptocurrencies into fiat in under 30 minutes.Yanilsa Gonzalez-Ore, North America head, Visa Direct and global ecosystem readiness, says: “By enabling real-time card withdrawals through Visa Direct, Transak is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 130M merchant locations where Visa is accepted."Sami Start, CEO, Transak, says: “We believe this partnership is an inflection point for Web3 as a whole. Now, millions across the globe have a straightforward way to cashout their digital asset holdings to their local currency in real-time and intuitively.

As the White House ponders its response to the attack on Tower 22, the U.S. military outpost in Jordan, the news from the Middle East could hardly be worse. From Gaza to the Red Sea and from Jordan to Iraq, a stream of unprovoked attacks by Iran and its proxies are driving President Biden into the greatest crisis of his presidency.

By Walter Bianchi

FRANKFURT (Reuters) — The European Central Bank said on Monday it would lower the bar for lending to central banks from outside the European Union in times of crisis.

₹1.10 trillion, was now controlled by the state. How are these two events connected? Finance Commissions and their work might seem remote from the concerns of most citizens, but in fact they are highly contentious. Most of the controversy centres around how taxes are shared with states, and how certain types of taxes, such as surcharges and cesses, are kept out of the shareable tax pool.

economy has made. He emphasized the government’s role in the accelerated high-growth trajectory the country has taken, as it is awash with optimism, pride, and anticipation.

ALSO READ: Maldives news: Opposition MPs engage in fight during parliamentary proceedings, video goes viral Analysis of the data show that in the last one month, China took over India in terms of the number of tourist arrivals in the Maldives around January 21. Before this, China was trailing India in chart showing 'Top 10 Markets 2024' of the Maldives tourism. As of December 31, India bagged the top spot in the Maldives tourism market share (11.1 percent), followed by Russia and China (10 percent).

Airtel added the maximum number of 4G/5G subscribers in November with 3.98 million users joining its network, followed by Reliance Jio with 3.45 million. Beleaguered Vodafone Idea added 0.96 million 4G subscribers, even as it continued to lose overall wireless subscribers, data shared by Telecom Regulatory Authority of India (Trai) said Monday. At the end of November 30, Reliance Jio commanded the leadership position in wireless broadband space with 455.82 million subscribers followed by Bharti Airtel with 255.07 million and Vodafone Idea at 126.63 million.

Delhi court on Monday extended the judicial custody of NewsClick founder and editor-in-chief Prabir Purkayastha and HR department head Amit Chakravarty in a case lodged under anti-terror law UAPA over allegations that the news portal received money to spread pro-China propaganda. While Purkayastha is an accused in the case, former co-accused Chakravarty recently turned approver in the matter. Additional Sessions Judge Hardeep Kaur on Monday extended their judicial custody till February 17, 2024.

RBI deputy governor Swaminathan J countered the popular notion that a small entity like an Urban cooperative Bank (UCB) is not systemically important and underscored the importance of governance standards among others to strengthen them. “Some may argue that UCBs are not systemically important in view of their size and turnover” RBI deputy governor Swaminathan J.” However, if we consider the inter-connectedness that binds the entire spectrum of financial entities, it becomes evident that any vulnerable link has the potential to erode public trust and confidence” Mr Swaminathan J said in his speech titled “ Urban Co-operative Banks: Upholding Governance and Professionalism with Capacity Buidling and Technology Upgradation” delivered to the South based UCBs at Hyderabad last week. In an increasingly interwoven financial landscape, the ripples of even an apparently small disturbance can resonate far beyond its initial impact, said citing that the failure in 2001 of a Gujarat based UCB and more recently in 2019 to a Mumbai based UCB attest to the contagion risks posed by even relatively smaller banks. UCBs form a critical layer of the financial system of the country. Despite the sector's consistent 3-4% presence in the overall banking business, its significance should not be underestimated, he said.

LONDON (Reuters) — IKEA is investing in price cuts on some products across a range of countries, including Belgium, Canada and India, as the furniture retailer aims to unwind increases it introduced in 2022.

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(Reuters) — Slovakia wants to discuss buying a Patriot missile defence system from the United States as part of longer-term plans to defend its airspace, Defence Minister Robert Kalinak said.

By Ariba Shahid

Gautam Adani's sprawling conglomerate is core to India's ambitions to become the world's third-largest economy by 2030, as it plays a key role across the infrastructure sector, US-based Cantor Fitzgerald & Co said in a note. Adani Enterprises Ltd, the group's flagship company, can deliver a gain of more than 50 per cent, analysts Brett Knoblauch and Thomas Shinske wrote in a note dated January 28, initiating coverage of the company. «India is now the most populous country in the world and has ambitions to be the world's third-largest economy by 2030. To get there, India needs to invest in both digital and physical infrastructure, in addition to increasing its energy production, as energy consumption will be meaningfully higher,» the US-based broker said.

India’s exports, given the existing capabilities, the finance ministry said in its economic review for January. It also said that despite subdued global trends dictating the course of foreign direct investment (FDI) flows to India lately, the country continues to chart its way forward and remain a preferred destination.

Indians now constitute one-tenth of all US visa applicants globally, with demand skyrocketing across all visa categories, witnessing a remarkable 60 per cent surge compared to the previous year. «In 2023, the US Embassy and Consulates in India processed a record-smashing 1.4 million US visas. Demand across all visa classes was unprecedented, with a 60 per cent increase in applications compared to 2022. Indians now represent one out of every ten US visa applicants around the world,» a statement by the US Embassy and Consulates in India said. Visitor visas (B1/B2) experienced a notable resurgence, representing the second-highest number of applications in the history of the US Mission, surpassing 700,000. The United States has ramped up staff in India whoch have led to a remarkable reduction of appointment wait times from an average of 1,000 days to a mere 250 days nationwide, across all visa categories. The US consular team in India achieved another milestone by issuing over 140,000 student visas in 2023, setting a record for the third consecutive year. Mumbai, New Delhi, Hyderabad, and Chennai emerged as the top four student visa processing posts globally, solidifying Indian students as the largest cohort of international graduate students in the United States, constituting over a quarter of the one million foreign students in the country.

Nitish Kumar's exit from the INDIA bloc, Delhi Chief Minister Arvind Kejriwal said that Kumar shouldn't have left and called it «wrong.» Kejriwal made the remark at a press conference responding to a question about Nitish forming a new government with BJP in Bihar. «He shouldn't have left, this is wrong. Such conduct is not good for democracy,» said the Delhi CM. Nitish Kumar on Sunday was sworn-in as the new chief minister of Bihar with BJP support.

Uttarakhand Chief Minister further said that after receiving the report on February 2, it will be brought to the Uttarakhand Cabinet. After that, action will be taken in the state assembly to enact the Uniform Civil Code Act. The Uniform Civil Code (UCC) proposes a common set of laws dealing with a range a issues, including marriage, inheritance, adoption and gender equality for every citizen in India.

ONGC (Oil and Natural Gas Corporation ) share price rose more than 5% during the intraday trades on Monday as it scaled 52-week highs. The stock was amongst the largest gainers in the Nifty-50 stocks.