Country Financial News

By Jarrett Renshaw

India is collaborating with «friendly» countries on leveraging Artificial intelligence for enhancing defence capabilities, the head of the Defence Research Development Organisation (DRDO) said on Thursday. Speaking to ANI, Samir V Kamat explained that India is working with other countries on developing tools as well as fundamental research in improving the algorithm which goes into AI. Talking about the applications of AI in the defence sector, the DRDO chief said that Artificial Intelligence helps in preventive maintenance, surveillance and cyber security. «It is playing an increasing role in the offensive action. It is a technology which is going to make a big difference not only in improving the performance of the military but also in its efficiency,» he said. When asked whether India is working with other countries on leveraging AI to enhance defence capabilities, Kamat said: «We are working in collaboration with countries which are friendly to us.

HDFC Bank Ltd, India’s biggest private sector lender, is seeking to open its first branch in Singapore, signaling its overseas ambitions after sewing up a landmark merger with mortgage financier Housing Development Finance Corp. last year. The bank has applied to the Monetary Authority of Singapore for a banking license and is awaiting approval, according to sources familiar with the matter.

Rahul Gandhi referred to Himanta Biswa Sarma as the ‘most corrupt chief minister’, the latter hit back at Congress leader saying, ‘most corrupt family of the country - Gandhi family of Congress.’ Soon after 'Bharat Jodo Nyay Yatra' entered Assam, Gandhi on Thursday commented that perhaps the "most corrupt government" in India is functioning in the state "Today BJP and your chief minister (Himanta Biswa Sarma) are dividing Assam. Maybe, the most corrupt chief minister in the country is the chief minister of Assam." “You know what is happening here. We will raise the issues of Assam during the 'Bharat Jodo Nyay Yatra'," he told party workers.

Pran Pratishtha ceremony of Ram Lalla in Ayodhya Ram Mandir on January 22 across the country, news agency ANI reported Thursday citing sources The report said at least 9,000 screens are available at railway stations across the country, on which the national transporter plans to live telecast the Pran Pratishtha ceremony. Besides, Indian Railways the DD News and DD National channels of Doordarshan will live telecast the entire event Pran Pratishtha ceremony on January 22. Live telecast arrangements have been made in Ayodhya Dham.

jewellery exports fell 8.14 per cent year-on-year in December to Rs 18,281.49 crore (USD 2,195.23 million), according to data released by the Gem Jewellery Export Promotion Council (GJEPC). The total exports stood at Rs 19,901.55 crore (USD 2,413.46 million) in the corresponding month of 2022, GJEPC said in a statement.

Investing.com — Mizuho Financial Group (TYO:8411) is in «full-fledged» discussions with overseas asset managers about potential deals as part of a bid by the Japanese banking firm to increase its assets to $1 trillion in the next decade, Reuters reported, citing a senior executive.

Kristalina Georgieva on Thursday said interest rates should keep falling in 2024 but cautioned that there is no room for any policy error as the last mile is «very, very tricky». In an interview with the World Economic Forum here during its Annual Meeting 2024, she said that the central banks should not tighten prematurely because then they may lose the victory that is now in their hands. Expecting the positive trend to continue in 2024, she said, «The inflation rate is going down, on average.» The International Monetary Fund's Managing Director, however, flagged the regional discrepancies still persisting around.

₹ 21,547 crore. This projects will be financed by way of equity infusion by the companies and debt. SECL will set up a 660 megawatt (MW) super critical thermal power plant through a joint venture with Madhya Pradesh Power Generating Company.

Small investors in China are using an underground network of brokers and go-betweens to skirt the country’s strict rules on cryptocurrency trading. China is officially one of the world’s toughest jurisdictions for cryptocurrencies. Beijing banned crypto trading in 2021, and authorities have since detained, fined and jailed people working in the sector.

PTI. ALSO READ: Ayodhya Ram Mandir: Govt offices to observe half-day on January 22. Check timing and other details "Today, the idol will be cleansed with water as part of the 'Jaladhivas' ritual and 'Ganesh Pujan' and 'Varun Pujan' will be held," he added. The priest said that 121 priests will be assigned puja tasks and there will also be a 'Vastu Puja' outside the sanctum sanctorum on the temple premises.

As the real estate sector continues to witness unprecedented growth and innovation, the niche of Senior Living is emerging as a vital and undetectable sub-asset, catering to the unique needs of an ageing population. The ageing demographic is a global phenomenon, and with longer life expectancies, there is an increasing demand for housing and facilities tailored to the needs of seniors. This surge in demand has given rise to a new dimension within the real estate market, where developers and investors are recognizing the potential and long-term sustainability of Senior Living projects.

LONDON (Reuters) — The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.

Emkay Global Financial Services, said, “With index setting at long-term mean valuations, we expect 11% return for the Nifty in 2024. The current composition of the Nifty is predominantly defensive. The India story is largely a capex-driven, industrials-led earnings bounce-back.

When HDFC Bank announced a merger with housing mortgage leader HDFC Ltd last year, signalling the biggest merger in the Indian financial sector, the near- and medium-term challenges of pulling it off was clear to everyone. Or it should have been to analysts and investors. On Wednesday, the HDFC Bank stock fell by over 8%, the highest single-day slide in the past three years, dragging down the benchmark Nifty index by over 4 %.

The International Monetary Fund (IMF) has issued a significant warning about the impact of Artificial Intelligence (AI) on the global job market. In a recent report, the IMF projected that nearly 40% of jobs worldwide could be affected by AI, with this figure rising to 60% in advanced economies like the UK​​​​​​.

ICRA Analytics anticipates several potential changes in the upcoming Interim Union Budget for the fiscal year 2025. The Budget will be announced on February 1, 2024. Since the general elections will be held in May, this will be the Interim Budget and a new Budget will be presented in July.

land deals for over 2707 acres closed in 2023 across the country up from 82 deals for 2508 acre a year ago. Backed by strong residential sales momentum across cities, at least 72% of the total land area closed in 2023 is slated to be used for residential development. “In terms of transaction size, Ahmedabad was the front-runner with the biggest land transaction in 2023.

Gem and Jewellery Export Promotion Council. During December 2023, the drop was to the tune of 9.04% to USD 2.19 billion as compared to USD 2.4 billion in December 2022. The overall import of gems and jewellery too has declined by 22.43% Y-o-Y, to USD 15.59 billion from USD 20 billion during April- December of FY24 as compared to the same period of FY23 and 7.58% to USD 2.09 billion, as compared to December 2022.

World Economic Forum Annual Meeting at Davos after the Asian nation conducted strikes in Iran, the foreign ministry said on Thursday. In a recent escalation of tensions between Pakistan and Iran, both countries have conducted military strikes on each other's territories, leading to civilian casualties and a diplomatic standoff. Pakistan carried out strikes in the Siestan-o-Baluchistan province of Iran, targeting alleged «terrorist hideouts» and claiming the elimination of a number of terrorists.

Budget expectations: According to a report by the World Gold Council, India is the second largest consumer of gold jewellery in the world and the interim Budget with strategic moves can give the industry a shot in the arm. The World Gold Council report said much of the Indian gold market was very traditional, reflecting important cultural and religious ties. This can be seen in the long-standing preference for 22-carat jewellery and the dominance of bridal jewellery. But the gold market is evolving, with changing tastes and designs. In recent years, for example, demand has grown for lightweight and studded jewellery. These stones and jewellery are considered as the power, success, and reputation for the Indian women thus providing them social and economic security, the value of which can never be undermined. Also Read: A bold Budget can pave way for India to be Global South's voice Budget boost for India — a jewellery factory of the world India today is the factory for the world in jewellery segment and has potential to become the market for the world. The Gems and Jewellery industry has become one of the largest businesses in India, playing an important role in the Indian economy. If we consider the statistical data, it is seen that it contributes to almost 7% of the country’s total GDP, and 15.71% of India's total merchandise exports.