Country Financial News

India is expected to surge to 300 million annually by 2030 from 153 million in 2023, Union Civil Aviation Minister Jyotiraditya Scindia said on Thursday. Speaking at the inaugural session of Wings India 2024, a civil aviation conclave and exhibition, Scindia also said the number of airports, and waterports will increase to over 200 from the existing 149 in the country.

Pakistan Air Force has conducted airstrikes on Baluch separatist camps inside Iranian territory. Pakistan has recalled its ambassador from Iran and blocked Tehran's envoy from returning to Islamabad after attack on the "anti-Iranian terrorist groups" in Balochistan. While US has condemned the airstrikes that "violated the sovereign borders" of neighbouring country, India launched a veiled attack on Pakistan over terrorism.

By Farah Master

QUITO (Reuters) — Ecuadorean prosecutor Cesar Suarez, who focused on pursuing organized trans-national crime in Guayas province, one of the country's most violent areas and the site of an on-air attack on a television station last week, has been killed, the attorney general said on Wednesday.

By Satoshi Sugiyama

Mint, Andrade, shares his perspective on the firm’s upcoming new fund offer (NFO)—the Old Bridge Focused Equity Fund—and provides valuable insights into his investment approach and strategy. With 27 years of experience in Indian capital markets, including a decade as chief information officer (CIO) at IDFC Asset Management, he now serves as CIO at Old Bridge Asset Management Company. Andrade, who recently established his own asset management company, says the firm concentrates on identifying businesses early into a cycle.

Day Two of the annual meeting of the World Economic Forum in Davos was about Ukraine’s Zelenskyy and Chinese Premier Li, Day Three was a mixed treat, with Argentina’s new President Javier Milei getting more mileage at the event. European Central Bank president Christine Lagarde, IMF’s Kristalina Georgieva, and an address by French President Emmanuel Macron were also in focus for their star power.

Chinese warplanes were detected around Taiwan, with 11 crossing a sensitive median line separating the self-ruled island from China, Taipei's defence ministry said Thursday, the first significant show of force since the weekend's presidential election. The ministry, which releases data daily on the Chinese military presence around Taiwan, said Thursday that 24 warplanes and 5 ships had been detected in the 24 hours leading up to 6 am (2200 GMT). «11 of the detected aircraft had crossed the median line of the Taiwan Strait or entered Taiwan's southwest and north (air defence identification zone),» the ministry said in a statement.

Saurabh Mukherjea, Founder, Marcellus Investment Managers, says the first big difference is we are optimistic that the private sector capex story revs into high gear. Private sector capex really has not done much in India since FY19. All the heavy lifting has been done by government capex, which has roughly tripled by our estimates since FY19. Private sector capex plays are very different from public sector capex plays and therefore in our portfolio, we have names such as RSI, RHI Magnesita, which is a play on the steel demand in India continuing to run up and all the steel plants in India needing more capacity to be installed. Similarly, Grindwell Norton is a play on private sector capex as an abrasive provider. The public sector capex beneficiaries would be cement, EPC companies. What about some of the compounders in the portfolio, the likes of Trent as well, fifth Tata Group company to top the Rs 1 lakh crore market cap? How do you see that as a performer along with Astral? Saurabh Mukherjea: In retail, what has happened in Indian apparel retailing is very interesting. It has become a very demanding market because of the rise of online and how online and social media have shaped the tastes of the Indian consumers. If you are a run-of-the-mill apparel retailer in India, not on the cutting edge of fashion, you do not have sharp pricing, I think you are finding life very difficult and we will see that in the Q3 results.

For an economy already caught in a slowdown, Wednesday’s release of China’s population data made it a double whammy. The official headcount fell for the second straight year in 2023. The decline of 2.08 million, though small for a country of more than 1.4 billion, was twice the fall in 2022, its first in six decades.

IMD) has predicted that dense to very dense fog and Cold day to severe cold day conditions likely to continue to prevail over North India during next 4 days. Severe cold wave conditions likely to continue over plains of Northwest India during next 4 days.

unicorns in India, or startups with valuation exceeding $1 billion, met with commerce and industry minister Piyush Goyal on Wednesday. The discussion focused on the growth trajectory of the Indian startup ecosystem, the role of domestic capital in nurturing and scaling startups and India's position in the international startup landscape.

Smriti Irani Wednesday highlighted the importance of normalising conversations around women's health. She said that women's healthcare systems or conversations were never mainstreamed and called it one of the greatest challenges. Speaking at a session linked to the Women's Health Programme at the World Economic Forum in Davos, Smriti Irani said, «I think women's healthcare systems or conversations never were mainstreamed and that has been one of the greatest challenges.

Iran's strikes on the bases of a terrorist group in Pakistan, China has called on both sides to exercise restraint and avoid actions that escalate tensions. While addressing a regular press briefing on Wednesday, Chinese Foreign Ministry spokesperson Mao Ning said that China believes that the ties between the two nations should be handled based on basic norms governing international ties underpinned by the principles of the United Nations Charter.

Trichy district administration has banned the flying of drones ahead of Prime Minister Narendra Modi's visit to Trichy Srirangam Sri Ranganathasamy Temple on January 20th, an official statement issued on Wednesday said. «The use of drones is banned in Trichy City from January 17 to January 20. Trichy District Collector Pradeep Kumar also warned of severe action against those flying drones and other objects during the Prime Minister's visit,» read the statement Prime Minister Narendra Modi will visit Maharashtra, Karnataka and Tamil Nadu on January 19 and launch multiple development projects in the three states, according to an official release on Wednesday.

‘12th FAIL’ over this past weekend. If you see only ONE film this year, make it this one," the Mahindra Group Chairman wrote on the microblogging site. Mahindra listed the factors why the audience should watch the film.

Bharti Enterprises chairman Sunil Mittal says Vodafone Idea urgently needs $7-9 billion capital infusion to survive and a patient investor who has the wherewithal to withstand negative cash flows for some years. In an interview with Sruthijith KK on the sidelines of the World Economic Forum Annual Meeting in Davos, Mittal said ARPU (average revenue per user) needs to increase as 5G has been a huge load on telcos without any revenue coming through.

Ruchira Kamboj said that she is honoured to share India's development journey at the United Nations Development Programme high-level policy dialogue for the Asia-Pacific. She stated that India is committed to fostering development for all with the support of all. Kamboj noted that India is on track to surpass the Sustainable Development Goals (SDG) target 1.2 before 2030.

BEIJING (Reuters) -China and the Philippines agreed to improve maritime communication and to properly manage conflicts and differences through friendly talks in regards to issues around the South China Sea, according to a statement from the Chinese foreign ministry.

Srinivas Satya, who was the former country president of the semiconductor products group at Applied Materials has joined Tata Electronics as the chief supply chain officer and president of the components business at the company, sources in the know told ET. «Srinivas has already begun his work at Tata Electronics from January 13,» one course cited above told ET. «What led to the switch from Applied Materials to Tata Electronics was his belief in the company's ability to build an entire industry as semiconductors need that kind of approach and the Tata group is uniquely positioned to make that happen.»

MEXICO CITY (Reuters) -Mexico's Grupo Financiero Banorte reported on Wednesday a 13% increase in its net profit for the final three months of last year, driven by loan growth and lower costs, and predicted its revenue would grow around 10% in 2024.