Country Financial News

By Hyonhee Shin

NEW DELHI : India is working on guidelines for strategic trilateral partnerships to maximize the impact of developmental projects in its neighbourhood and beyond in collaboration with other countries, said people aware of the matter. India has partnered with the UK, the US, France, Japan, and Germany to implement developmental projects in India’s neighbouring regions and key nations in Southeast Asia and Africa. While India has traditionally favoured bilateral developmental projects for ease of coordination, and established political relationships with the recipient countries, it is now exploring collaborations with a select group of countries.

Insacog — the network of laboratories set up to monitor genomic variations of the coronavirus in India — will hold a meeting on Friday. «By Friday, we will come to know about the expansion of the new sub-variant and the proportion of other existing sub variants,» said a member of the Indian SARS-CoV-2 Genomics Consortium (Insacog) on the condition of anonymity. So far, 69 cases of JN.1 Covid variant cases have been reported in the country. India reported 116 new cases of Covid-19, with three deaths in Karnataka, bringing total active cases to 4,170 and the total death toll to 533,337, as of Tuesday. «The cases are expected to go up as testing has been ramped up too,» he said. While cases of newly detected sub-variant are surging, XBB continues to be dominant in India.

France and the UAE to bring back the flight which was grounded at the Vatry airport, east of Paris, over suspected human trafficking. It was a tip-off, described as anonymous, from the UAE that enabled France to halt the Romanian Airlines chartered flight at an airport near Paris on suspicion of human trafficking.

EKA Mobility has formed a strategic partnership with Japan’s Mitsui & Company and Netherlands-based VDL Groep to manufacture electric buses and light commercial vehicles in the country. As per the agreement, Mitsui and VDL together will invest $100 million (approx Rs 830 crore) in EKA Mobility for ‘significant’ minority stakes. The resources will be utilized to scale up research and development and enhance manufacturing capacity. EKA Mobility, which commissioned a production unit in Pune earlier this year, plans to scale up production capacity to roll out 5000 electric buses and 6000 light commercial vehicles per annum in the first phase.

NEW DELHI : Union defence minister Rajnath Singh, has vowed to take decisive action against those responsible for the assaults on the India-linked shipping vessels, MV Chem Pluto and MV Sai Baba, amid escalating tensions in the Red Sea region. For over a month, attacks by Yemen’s Houthi rebels on vessels using the crucial Red Sea shipping route have heightened uncertainty in the global economy. “The recent drone attacks on the MV Chem Pluto in the Arabian Sea and a few days ago on the MV Sai Baba in the Red Sea have been taken very seriously by the Indian government.

Russia's crude oil exports and a fifth of coal came to India in the past 12 months, making India the second-largest importer of Russian fuels after China, according to a research agency. Since the European Union imposed a ban on the import of coal, oil and some other commodities from Russia on December 5, 2022, supplies to India and China have increased. Between the EU ban and the end of November this year, China imported 40% of all the coal and 45% of all the crude oil Russia exported, according to the Finland-based Centre for Research on Energy and Clean Air (CREA). India purchased 32% of Russia's crude oil exports while the EU (8%) and Turkey (4%) were the third- and fourth-largest buyers.

suspected drone attack on a merchant vessel off the Porbandar coast and perpetrators of the strike will be brought to justice, defence minister Rajnath Singh said on Tuesday. Speaking at the commissioning ceremony of stealth destroyer INS Imphal, the Union minister said that India's growing economic and strategic power has caused jealousy and hatred, and attacks on ships ferrying goods to the country have been taken very seriously. «The Indian government has taken the recent drone attack on MV Chem Pluto in the Arabian Sea and the attack on MV Saibaba in the Red Sea a few days ago very seriously.

Yoav Gallant hinted on Tuesday that the country had retaliated in Iraq, Yemen and Iran for attacks carried out against it as the war with Hamas-led Palestinian militants in the Gaza Strip widens to other areas of the region. «We are in a multi-front war and are coming under attack from seven theatres: Gaza, Lebanon, Syria, Judea and Samaria (West Bank), Iraq, Yemen and Iran.

PTI. Bharadwaj said the national capital's COVID positivity rate is around 1 percent, adding genome sequencing of samples testing positive for COVID-19 has been ramped up. "The report of genome sequencing is awaited," Bharadwaj added.

₹6,105 per sq. ft. in Q3 2022 to nearly ₹6,800 per sq.

AstraZeneca said on Tuesday it will buy Gracell Biotechnologies for up to $1.2 billion as the Anglo-Swedish pharma company furthers its cell therapy ambitions and boosts its presence in China, the world's second-largest pharmaceuticals market. The cash deal, which adds several experimental therapies to AstraZeneca's portfolio, values Gracell at $2 per ordinary share, or $10 per ADS of Gracell, plus a non-tradable contingent value right of $0.30 per ordinary share, if certain regulatory milestones are met.

last week's gains of about three per cent after Houthi attacks on ships disrupted global shipping and trade while the Israel-Hamas conflict shows no sign of easing. Brent crude futures were up by $1.79, or 2.3 per cent, at $80.86 a barrel and earlier reached $81.23, the highest since December 1. US West Texas Intermediate crude rose by $1.89, or 2.6 per cent, to $75.45, according to news agency Reuters.

The last few days are left to file your Income Tax Return (ITR) for income earned during the previous year 2022-23 (between 01-04-2022 and 31-03-2023). Taxpayers are advised to carefully file forms 1 and 4 keeping in view the changes introduced for the year.

the Ram temple in Ayodhya. He said, “What is happening in this inauguration ceremony is that it has been converted into a state-sponsored event with the Prime Minister, UP CM and others holding Constitutional positions..." "This is straightforward politicisation of the religious belief of the people which is not in consonance with the Constitution. Therefore, in these circumstances, I regret not being able to attend the event," Yechury said.

Kingston, Ont., Wine Rack stores will remain closed. However, where permitted by local municipalities, some LCBO Convenience Outlets might be open with regular hours of business.Most B.C. liquor stores will be closed.

Chinese assets have had a terrible year—but China’s currency is gaining ground as an international payments option. The yuan’s status as a global currency still faces a huge obstacle in the form of China’s own capital controls. Even so, rising willingness to conduct trade in yuan could help insulate China’s economy, at least to an extent, in the event sanctions were imposed in a hypothetical future conflict with the West.

Narendra Modi on Tuesday said the Sikh gurus have taught Indians to live for the glory of their land and served as an inspiration to make the country better and developed. Speaking at a 'Veer Bal Diwas' event to commemorate the martyrdom of two sons of Guru Gobind Singh, Modi said India is now coming out of the «mindset of slavery» and has full faith in its people, their abilities and heritage. «When we did not respect our heritage, the world also did not value it,» he said, adding that the global perspective has now changed.

By Steven Scheer

Boxing Day, shrouded in historical curiosities and evolving traditions, transcends its origins to become a globally observed occasion. Despite its name's misleading connotation, this holiday, rooted in Victorian England, reflects generosity, maritime rituals, and diverse cultural adaptations. Exploring its multifaceted nature unveils a tapestry of traditions, global resonance, and the commercial metamorphosis that characterizes contemporary celebrations. 1. What is the origin of Boxing Day?

free trade agreement (FTA) between India and Oman are moving at a fast pace and the pact is likely to be signed next month, a senior government official said. Officials of the two countries concluded the second round of talks for the pact, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) earlier this month in Muscat. «With Oman, there is a very good progress and both sides are very eager to conclude this deal.