Country Financial News

Covid-19 cases continued on Thursday, with 702 new infections reported across the country, according to the data from the ministry of health and family welfare. With this, the country's active caseload stands at 4,097. Six Covid-related deaths were also reported, with two deaths reported in Maharashtra and one each in Karnataka, Kerala, West Bengal, and Delhi within the last 24 hours.

In August, Chandrayan-3’s landing on the moon signified more than India’s advancement in science and technology. It signalled to the world India’s spirit of innovation, extraordinary talent and the desire to invest in the power of technology to change lives and take the country forward. In many ways, India is already leading the world in people-centred innovation.

Indian Space Research Organisation (ISRO) Chief S Somanath Thursday said the Indian space agency is planning to launch 50 satellites in the next five years for geo-intelligence gathering. The initiative involves the creation of a layer of satellites in different orbits with the capacity to track the movement of troops and image thousands of kilometers of area.

NEW DELHI : The government is considering a 50% duty on the export of molasses. The idea is to ensure enough supplies to meet the target for cleaner and more efficient ethanol-blended petrol, two officials aware of the matter said on the condition of anonymity. India is the world’s largest molasses exporter, contributing about 25% to global trade.

manufacturing and increasing exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices and chemicals, a senior official said on Thursday. These issues were discussed during a meeting called by the Commerce and Industry Ministry on Thursday. The meeting was convened by the Department of Promotion of Industry and Internal Trade (DPIIT) in collaboration with Invest India and SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee to unveil outcomes and recommendations made during the Chintan Shivir for Manufacturing, held on October 12 at Bharat Mandapam here.

international tax arena as India, alongside 110 other countries, voted in favour of a UN Tax Convention Framework. This resolution, backed by 125 countries a month earlier at the UN's Economic and Financial Committee, encountered opposition from 48 countries, notably wealthy OECD members, on both instances. OECD has been leading international tax reforms.

By Lucinda Elliott and Jorgelina do Rosario

Why do we need a pan-India retail policy? India’s offline retail market was estimated at $860 billion in 2022; it is expected to nearly double by the end of the current decade. Online retail, on the other hand, is a $70-billion market and is expected to grow at a rapid pace, according to a 2023 report by consulting firm Deloitte. However, the sector lacks a cohesive policy that governs retail trade pan-India.

₹6,000 a night, according to ratings agency Icra. Hotel revenues saw a robust 20% increase over 2022 while operating margins surpassed the 30% mark. Occupancy rates for top hotel firms, with an inventory of 70,000 rooms, are expected to rise by 10% compared to the previous year, to 74%, according to Crisil.

India and the Philippines in the disputed South China Sea, the Chinese military on Thursday said defence cooperation between different countries should not harm the interests of third countries and regional peace. Answering a question from Chinese official media about naval exercises between an Indian naval ship and the Philippines naval vessel besides plans by France to hold naval and air drills with the Philippine Navy, Spokesman of the Chinese Defence Ministry Senior Col Wu Qian said China has taken note of the reports.

Piyush Goyal on Thursday said rice exports have been impacted by the problems in the Red Sea, though a clear picture will emerge after the December exports data is known. The situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, has escalated due to recent attacks by Yemen-based Houthi militants.

NEW DELHI : India is expected to sign a much-awaited deal on two more pillars of the US-led Indo-Pacific Economic Framework—clean economy and fair economy—early next year, two officials aware of the matter said. India’s law ministry is currently vetting proposals for IPEF’s clean economy and fair economy pillars, following which the commerce ministry will move for cabinet approval, the officials said. “Both the pillars are very important for the country.

Hafiz Saeed, the founder of Lashkar-e-Taiba (LeT) and mastermind of 26/11 Mumbai terror attacks. India placed the extradition request to neighboring country Pakistan. Hafiz Saaed has been in Pakistan jail since 2019 after being convicted for several years in multiple terror finance cases along with some other leaders of the banned Jamaat-ud-Dawa (JuD).

Volodymyr Zelensky, the Joe Biden-led United States administration sanctioned military aid for the war torn country. However, this could be the ‘last’ aid the western country has available without fresh approval from US Congress, where talks have stalled. The latest tranche from the US for the includes air defence, artillery and small arms ammunition, and anti-tank weapons.

Ambati Tirupati Rayudu joined the YSR Congress Party in the presence of Chief Minister Shri YS Jagan at the CM Camp office. Deputy CM Narayana Swamy and MP Peddireddy Mithun Reddy participated in this program," the party wrote on X. Ambati Rayudu, who played for MS Dhoni-led Chennai Super Kings (CSK) in the Indian Premier League (IPL) announced his retirement after the franchise won the trophy in 2023.

satellites in the next five years for geo-intelligence gathering which will include the creation of a layer of satellites in different orbits with a capacity to track the movement of troops and image thousands of kilometers of area, Indian Space Research Organisation (ISRO) chairman S Somanath said here on Thursday. Speaking at 'Techfest', an annual science and technology event organised by the Indian Institute of Technology Bombay, he said it is important to improve the ability of satellites to detect changes, to bring in more of AI-related and data-driven approach to analyse data, reduce data downloads and get only the necessary information.

Germany, Britain and South Korea under its new electric vehicle (EV) policy, an Indian government trade official told reporters on Thursday. «Talks are underway and we aim to bring all countries on board,” the official said, without giving a timeline on the launch of the new policy. The official said the policy will also aim to benefit Indian carmakers. „It should be for everyone.“

Magdeburg for the first time in a decade to alleviate pressure from the swollen Elbe River. The ongoing floods this week prompted evacuations in parts of northern and central Germany, but a dry weather forecast for Thursday offered some relief. Nevertheless, concerns persisted as water levels continued to rise in parts of Lower Saxony state in the northwest. In Dresden, the Elbe River reached nearly 4 meters (13 feet) above its normal level, reported the German news agency dpa. Downstream, the Pretziener Wehr, a flood barrier dating back to the 1870s and renovated in 2010, was opened for the first time since the major floods in 2013. The objective was to divert approximately a third of the river's water into a 21-kilometer (13-mile) channel, bypassing the town of Schoenebeck and the state capital, Magdeburg, in Saxony-Anhalt.

₹6,600 crore, allowing them to receive bids. These include two mega projects – a network expansion scheme in Navinal (Mundra) area of Gujarat and the eastern region expansion scheme, which will cost ₹2,383 crore and ₹2,898 crore, respectively. The NCT has recommended these two projects for implementation to the union power ministry.

Edited excerpts of the interview: This year companies had to align themselves to what works long-term for businesses, and what is good for both the company and the investors, and finally, the LPs (limited partners) of our funds who put their faith in India and who have invested heavily in India. Therefore, I think it was time to readjust many things, and in some cases, correct certain excesses in the ecosystem. The good part is we have emerged from this as, maybe, the hotspot globally.

economic ties with India, while meeting the country’s top diplomat, currently on a five-day visit to Moscow and St. Petersburg. Industry and Trade Minister Denis Manturov told External Affairs Minister S Jaishankar that despite the challenges faced by both countries, economic ties are developing rapidly. “There is no doubt that Russian-Indian trade will exceed the significant milestone of $50 billion by the end of this year, and set a new historical maximum,” Manturov remarked.