Country Financial News

₹20 crore Osamu Suzuki made in the company in 1981, ‘staking his reputation’ on a company that was almost ‘guaranteed to fail’, according to Bhargava, because he was one of the few people who believed in the potential of India’s car market. Suzuki also helped Maruti break out of the mould of a traditional PSU and prioritize profitable growth and competitiveness.

China has ramped up its digital yuan work over the last year, while the ECB is now in the preparation phase for a digital euro and India is seeing a million transactions per day processed by commercial banks throughout the country for the digital rupee. Yet in the US, the Federal Reserve has been cautious about pushing ahead with pilots and several governors have expressed scepticism about the need for a CBDC. This month, Donald Trump vowed to prevent the creation of a digital dollar if he wins the US presidential election, calling a CBDC a "dangerous threat to freedom". Josh Lipsky and Ananya Kumar from the Atlantic Council’s GeoEconomics Centre warn that technological payments innovation at the Fed is lagging behind its peers and competitors.

SHANGHAI (Reuters) -China's securities regulator said on Sunday that it will fully suspend the lending of restricted shares effective from Monday, in policymakers' latest attempt to stabilise the country's stock markets following recent sharp falls.

Mint reported that India is considering reforming the lines of credit (LoCs) it grants to other countries to improve its economic diplomacy. So far, India has extended over 300 lines of credit to 65 countries with an estimated value of $30 billion.

SINGAPORE (Reuters) -Small Chinese investors are scrambling even harder than foreigners to exit the country's crumbling stock markets, sending premiums on global index funds skyrocketing as they search for exposure to anything but the sputtering domestic economy.

By Ariba Shahid

WASHINGTON (Reuters) — Three U.S. service members were killed and as many as 34 wounded, United States officials said on Sunday, after a drone attack in Jordan that they linked to Iranian-backed militants.

Last week at Davos, a group of self-declared rich people demanded that elected politicians force them to pay more tax. The “patriotic millionaires" group announced in a letter, signed by 260 of them, that they would be “proud to pay more" if it were to make for better societies. They also insisted that they were not alone in wanting to pay more.

By Benjamin Mallet and Sudip Kar-Gupta

By Anne Kauranen and Essi Lehto

Karnataka Bank for ₹100 crore. "The Board of Directors of Karnataka Bank on January 27, 2024 had approved to issue, offer and allot 37,72,730 equity shares of face value of ₹ 10/- each fully paid-up at a price of ₹ 265.06/- per equity share, amounting to an aggregate value of up to ₹ 100 crore," the company said in an exchange filing. Also read: Market cap of 7 out of top 10 most valued firms decline by ₹1.16 lakh crore; HDFC Bank biggest laggard The Board of Directors of Karnataka Bank has granted approval for the infusion of an additional equity capital of ₹700 crore.

Mallikarjun Kharge commented on Bihar Chief Minister Nitish Kumar's resignation by stating that he was not surprised by the development. As reported by ANI, Kharge added that many individuals in the country are known for switching loyalties, using the popular phrase 'Aaya Ram-Gaya Ram' to describe such political behaviour. Also Read: Bihar politics LIVE: BJP chief JP Nadda to leave for Patna in afternoon; oath likely today “Earlier he and us were fighting together.

By Michelle Nichols

As much as 80% of Hamas’s vast warren of tunnels under Gaza remains intact after weeks of Israeli efforts to destroy them, U.S. and Israeli officials said, hampering Israel’s central war aims. Thwarting Hamas’s ability to use tunnels is the keystone to Israel’s effort to capture top Hamas leaders and rescue the remaining Israeli hostages, Israeli officials have said.

Vladimir Putin castigated Europe for “Russophobia" and aimed the Baltic States for their human rights record during the inauguration of a World War II memorial on Saturday. As reported by Reuters, over the past nearly two years since deploying Russian troops into Ukraine, Putin has consistently drawn parallels with the struggle against the Nazis as a means to unify his nation. Also Read: Putin Has Staked Russia’s Resources on Victory in Ukraine.

ICICI Prudential Life Insurance Company. In an interview with MintGenie, Balasubramanian said that to increase insurance penetration across the country, IRDAI is working towards implementing Bima Sugam, Bima Vahak, and Bima Vistaar initiatives. Edited Excerpts: The life insurance industry in India has registered a 13% year-on-year growth in total premium income, amounting to ₹7.83 trillion during FY2023, according to the IRDAI Annual Report, indicating an increase in the uptake of life insurance products.

2024 Lok Sabha elections and address a public meeting in Dehradun on Sunday. Former Uttarakhand Chief Minister said the Congress chief is travelling across the country for the crucial polls due this year. “We are grateful that he has chosen Uttarakhand to give his call for a change.

HEFEI, China: Ultramodern factories churn out electric cars and solar panels in Hefei, an industrial center in the heart of central China. Broad avenues link office towers and landscaped parks. Subway lines open at a brisk pace. Yet at Hefei's market for construction materials, local merchants are gloomy. Wu Junlin, a vendor of doors, has closed two of his three stores and laid off all but one of his dozen employees.

China's industrial firms fell 2.3% in 2023, their second straight yearly decline, due to sluggish demand at home and abroad, adding pressure on economic growth amid a deep property slump and deflationary risks. The drop followed a 4.4% profit fall in the first 11 months from the same period a year earlier, according to data from the National Bureau of Statistics (NBS) on Saturday.

The Congress leader was speaking at a talk show at the Kolkata International Book Fair. According to the report, he said that while relations with Maldives at present are not good, that with Sri Lanka was not too bad, while that with Bangladesh is pretty good. "Relations with Pakistan are in bad shape, Nepal is more and more subject to Chinese influence and Chinese influence is also increasing in Bhutan," Tharoor said while talking about India's position vis-a-vis smaller countries in the periphery.

Higher Education Institutions (HEIs) in the country will no longer be given grades under the accreditation system, rather they will be categorised either as «accredited» or "not accredited", the National Assessment and Accreditation Council (NAAC) decided on Saturday. In an executive council meeting held on Saturday, the NAAC also decided that the accredited institutions will be further given levels between one and five to encourage them to achieve the highest level.