Country Financial News

UBS Group aims to grow its wealth and asset management business in China, despite the slowing economy and dearth of deals that’s weighed on some Wall Street and European lenders in the country.

Hundreds of master kite makers, teams of pilots and contestants coming from all over the world including a team from South American nation Peru participated in the inauguration of the Ahmedabad International Kite Festival, the most important cultural event in the State of Gujarat.

In recent years, India’s real estate industry has undergone a remarkable transition, with a particular emphasis on green initiatives and sustainability. The Indian real estate industry has accepted the duty to solve the urgent environmental issues facing the globe and has made great strides in implementing sustainable and eco-friendly methods. Whether it is commercial or residential developments, there is a shift in real estate development towards sustainability due to a number of factors, including increased global awareness, government initiatives, changing consumer behaviour that is more responsible, and the consequent urgency of combating climate change.

After the Supreme Court’s verdict quashing the remission granted to the 11 convicted men in a case of the gangrape of Bilkis Bano and the murder of her family members, the family said it felt “relieved but not victorious”.

Calcutta and Bengal were the centres of culture, commerce, and creative expression across undivided India. The state and her citizens stood as a beacon of intellectual and cultural prowess in India. The idea of Mother India – Bharat Mata – arose in Bengal with Bankim Chandra Chaterjee’s ‘Bande Mataram’. Religious reform and modernisation arose with the tireless work of Raja Ram Mohan Roy and the Bhramo Samaj.

Maldives Deputy Minister Of Youth Empowerment to Prime Minister Narendra Modi, who recently undertook a trip to the Union Territory of Lakshwadeep, sparked outrage in the country. Several Indian netizens took to social media to call out the racist remarks against Indians and the PM. Hashtags such as #ExploreIndianIslands and #MaldivesOut also trended on X (formerly Twitter)

Chennai: Denmark has announced its Green Fuels Alliance India (GFAI) initiative to boost collaborative efforts between the two countries in the sustainable energy solutions sector and advance their joint global goal towards carbon neutrality. Led by the Danish Embassy and the Consulate General of Denmark in India, the new alliance is a strategic initiative poised to play a pivotal role in advancing the green fuels sector, including green hydrogen, by fostering innovation, collaboration, and partnerships between Danish industries and their counterparts in India. GFAI's primary objective is to promote sustainable energy growth in India by establishing an ecosystem that encourages collaboration among businesses, government entities, research institutions, and financial stakeholders from both the Indian and Danish sectors. Nine pioneering Danish organisations have already committed to the GFAI initiative as founding members, including Maersk, Topsoe, Umwelt Energy, Mash Makes, European Sustainable Solutions, Novozymes, Danfoss, Brdr.

diesel fell 2.5% in December over last year while that for petrol barely changed, according to the oil ministry data. The consumption of diesel, which accounts for 38% of total refined products demand in the country, had contracted 3% year-on-year in November after an unusual 6% growth in the April-October period. Diesel is mainly used in long-haul transport, backup generators, mining, and farming. Petrol sales, which make up 15% of the nation’s total refined products demand, grew just 0.2% in December after growing at 9.4% in November.

India-Maldives row, full service carrier Vistara on Monday said it will monitor the demand for flights between the two countries as the «situation is evolving right now». Vistara operates one flight each daily from Mumbai and Delhi to Male. Airline's Chief Commercial Officer Deepak Rajawat said it has not cancelled anything as of now and will monitor the demand for flights. «The situation is very evolving right now… we will have to monitor in a week or so,» he said at a briefing in response to queries about the Maldives situation. Air India, IndiGo and SpiceJet also operate flights to the Maldives. There were no comments from the three airlines on the current situation. India has conveyed its strong concerns to Maldives over remarks posted on social media against Prime Minister Narendra Modi by a number of ministers of that country. The disparaging remarks by the ministers have drawn flak in India, with many celebrities urging people on X to explore domestic tourist destinations instead of going to the Maldives. There were also posts on social media claiming that some Indians are cancelling their scheduled trip to the Maldives in view of the row. On Sunday, the government of the Maldives suspended three deputy ministers for derogatory social media posts against Modi. The three deputy ministers criticised Modi for his post on 'X' following his visit to Lakshadweep, inferring that it was an attempt to project the Union Territory as an alternative tourist destination to the Maldives.

COVID-19 sub-variant JN.1 reported from 12 states till January 7 rose to 682, official sources said on Monday. They said 199 cases have been reported from Karnataka, 148 from Kerala, 139 from Maharashtra, 47 from Goa, 36 from Gujarat, 30 from Andhra Pradesh, 30 from Rajasthan, 26 from Tamil Nadu, 21 from Delhi, three from Odisha, two from Telangana and one from Haryana.

Baldev Prakash, MD & CEO, J&K Bank, says “retail growth is coming from our home territory, that is Jammu and Kashmir and Ladakh. And in retail also, the home loan segment is picking up. We are clocking a growth of over 20% in home loans and corporate growth is coming from the rest of the country segments, basically all the good corporates. That is the strategy we followed last year and we continue with that study.” What is the outlook when it comes to overall advances growth in terms of any sort of projections or any particular space where you have seen a little bit of weak growth when it comes to your advances? Baldev Prakash: As far as advances growth is concerned, our guidance was around 15% to 17% and we are confident of maintaining the guidance. This quarter also, on the net advances basis, it should be 15% plus.

Commercial vehicle maker Ashok Leyland on Monday said it sold 1,98, 113 units in the Calendar Year (CY) 2023, surpassing its previous sales record of 1,96,579 units achieved in 2018. This record achievement underscores the company's product versatility and strong market presence, solidifying its position in the segment both in the domestic and international markets, the company said in a statement.

Brent crude slipped 0.93%, or 73 cents, to $78.03 a barrel by 0753 GMT after falling more than 1% earlier in the session, while U.S. West Texas Intermediate crude futures shed 1.04%, or 77 cents, to $73.04 a barrel. «Saudi Aramco slashing its February OSPs bolsters the weak demand narrative,» said Vandana Hari, founder of oil market analysis provider Vanda Insights. Rising supply and competition with rival producers prompted Saudi Arabia on Sunday to cut the February official selling price (OSP) of its flagship Arab Light crude to Asia to the lowest level in 27 months. «If we were just to focus on the fundamentals including, higher inventories, higher OPEC/non-OPEC production, and a lower-than-expected Saudi OSP, it would be impossible to be anything other than bearish crude oil,» IG analyst Tony Sycamore said. «However, that doesn't take into account the fact that geopolitical tensions in the Middle East are undeniably rising again which will mean limited downside.» Both contracts climbed more than 2% in the first week of 2024 after investors returned from holidays to focus on geopolitical risk in the Middle East following attacks by Yemeni Houthis on ships in the Red Sea. U.S.

consumption will be done by 90% of the population at the lower end by the end of the next decade, State Bank of India researchers said in a new report released Friday, pointing to the country bridging the inequality gap in the coming years and dismissing K-shaped recovery as a flawed narrative. The researchers stated that an “additional Rs 8.2 trillion of consumption had moved to the lower end of the pyramid post-pandemic following the saving of expenditure through free food, shelter and medical being provided by the government.” The figure is expected to double to Rs 16 trillion by 2040. Using I-T returns data, SBI economists stated that income inequality has decreased over the last few years and that the K-shaped recovery narrative was false. Inequality, as measured by Gini coefficient, has declined during FY14 and FY22, SBI pointed out, noting that 36.3% of people belonging to the lowest income group in FY14 have since moved up the income value chain. “Our study shows that an individual’s weighted mean income has risen from Rs3.1 lakh to Rs11.6 lakh during FY14-21.

Germany is facing a dearth of skilled nursing staff as there are not enough qualified nurses available to meet the high level of demand. Experts anticipate that approximately another 500,000 nurses will be needed by the year 2030. Moreover, the scarcity is expected to exacerbate in the medium and long term due to demographic shifts. The Triple Win Programme was established in 2013 by the German Federal Employment Agency's International Placement Services (ZAV) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for the migration of qualified nurses with German companies. Think you check all the immigration boxes? Find out The project facilitates migration of healthcare personnel from India (specifically from Kerala), Indonesia, the Philippines, Bosnia and Herzegovina and Tunisia. The collaborative efforts of the Federal Employment Agency and GIZ involve the placement of skilled nurses from overseas to work in Germany. The program operates under an agreement between the German Federal Employment Agency (BA) and Norka Roots, focusing on the selection and placement of nursing professionals.

₹6.50, and in Pune, the egg rates have spiked up to ₹7-7.50 per piece. Last year, wholesale egg prices in Pune were at ₹6.44. How people can keep their investments less vulnerable to events in 2024 The whole prices of eggs were high in other Indian cities as well.

Hyundai Motor India Ltd on Monday said it will invest Rs 6,180 crore on various initiatives, including establishing a hydrogen resource centre, in Tamil Nadu. The fresh investment by the automaker is in addition to the Rs 20,000 crore it plans to deploy over a period of ten years (2023- 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure and skill development. The company inked an MoU with the state government regarding the new investment during the Tamil Nadu Global Investors Meet 2024.

By Wayne Cole

diversification is another effective tool. By spreading your investments across various asset classes (such as stocks, bonds, and real estate) and diversifying within each asset class (exploring different sectors and industries), you can reduce risk and create a more stable return pattern. Additionally, you might consider delving into alternative investments such as commodities, gold, or assets designed to guard against inflation if you seek a degree of protection amid economic turbulence.

Investing.com-- Most Asian stocks fell on Monday after a surprise jump in U.S. nonfarm payrolls saw markets rethink expectations for early interest rate cuts, with focus now turning to a string of key inflation readings this week.

By Florence Tan