Country Financial News

Ford Motor Co. unexpectedly abandoned plans to sell its Tamil Nadu plant, its sole remaining factory site in the country, after finalising a deal with the Sajjan Jindal-led JSW Group recently, said people with knowledge of the matter.

India over an alleged plot to kill Khalistan separatist Gurpatwant Singh Pannun and expressed its willingness to engage with New Delhi in resolving the ongoing conflicts in Ukraine and West Asia. “I would say that we would welcome India’s constructive engagement in these two matters (wars in Ukraine and Gaza) as we welcome constructive engagement from countries around the world,” US state department spokesperson Matthew Miller said. He said the Joe Biden administration has focused a “great deal of time and attention” on the ties with India. Miller’s comments came ahead of foreign minister S Jaishankar’s Moscow trip later this week. India, which has maintained neutrality in the Ukraine war and continued its engagements with Russia, favours dialogue and diplomacy as the way forward to end the conflict. India has strong ties with Israel as well as with the Arab world. The country recently hosted the Sultan of Oman.

Finhaat has raised $3 million in its first institutional fundraise led by agri-focused venture fund Omnivore, along with participation from early-stage venture fund Kettleborough VC. Finhaat runs an online distribution platform through which insurance products are sold to consumers in rural and semi-urban India.

Aequs may soon make its new line of Marvel toys for India as well as for the countries in the Middle East, people in the know told ET. The company has signed a contract with Stone Sapphire, licensee for Disney in India, to design and manufacture collectible pullback cars in Marvel superhero colours. The design process began 18 months ago, and the new car versions in the colours of Captain America, Black Widow, Spiderman, and 33 other Marvel characters will be available in the markets across India this Christmas. The company plans to expand the existing range even more before proceeding to the next phase, Aravind Melligeri, the US-based founder of Aequs, told ET.

Canada came close to breaking the highest population growth rate in any quarter this July to September when it reported 430,635 new residents in the country.

Narendra Modi government's vision of gender inclusivity to new heights. In a major push to promote inclusivity this year, Defence Minister Rajnath Singh approved a proposal for extending the rules for maternity, child care and child adoption leave for women soldiers, sailors, and air warriors in the armed forces on a par with their officer counterparts. Besides this, Chief of Naval Staff Admiral R Hari Kumar said on December 1 that more than 1,000 women Agniveers have been incorporated into the Indian Navy.

Nine more banks have joined China’s digital yuan pilot, bolstering the number of banks offering CBDC wallets to 60.

The European Union (EU) revealed details on their latest package of sanctions against Russia, which includes provisions on crypto, in a newly released Q&A this week.

Gibran Rakabuming Raka, a vice presidential candidate in the upcoming Indonesian election, aims to accelerate Indonesia’s position as a leader in the digital revolution by cultivating expertise in blockchain and cryptocurrencies.

The debate surrounding illicit financial activities within the cryptocurrency space has been a contentious issue, with critics often pointing to the potential for misuse. However, recent remarks by Binance CEO Richard Teng and analysis by Dr. Andrzej Gwizdalski, a lecturer at the University of Western Australia, offer a new perspective.

Reliance Industries has paid ₹254 crore to Metro AG in the financial year ended September 2023 for using the German retailer's brand name in India after acquiring its wholesale chain in the country a year ago. «Metro AG is providing certain transitional services and licences as part of the transaction to enable the new owner to operate the business. As part of the sale of Metro India, a licence payment of ₹28 million (₹254 crore) received in advance for using the Metro brand is recognised in the financial year,» Metro said in its latest annual report.

Target and Amazon are all-in on the shipping wars, a move retail experts say will help them maintain a competitive edge against low-cost Chinese retailers Shein and Temu. For Walmart and Target, their investments are also aimed at narrowing the gap in delivery speed with Amazon, which has set the standard for fast shipping and remains the king of speed. Amazon packages have been arriving at the doors of Prime customers even faster this year under the company's new distribution model, which divides the country into eight regions and predominantly ships items from warehouses in those areas. The idea, according to Amazon, is to get shipments to travel shorter distances with fewer touchpoints, which helps the company not only speed up deliveries but also cuts down on costs.

startups, young minds come together and manifest how creativity, innovation, and hard work can transform the way they work across various industries in the country. Startups are buzzing with ideas and energy, reflecting the optimistic outlook of the nation.

Congress president Mallikarjun Kharge said that the Opposition alliance first needs to focus on ensuring a majority in the Lok Sabha and the issue of the prime ministerial face can be settled after the election results are announced. Kharge was speakiung to reporters after the conclusion of the fourth meeting of the Indian National Developmental Inclusive Alliance (INDIA) in New Delhi on Tuesday.

NEW DELHI : Meta, the parent firm of Facebook, Instagram and WhatsApp, is piloting new generative artificial intelligence (AI) products, including a creator suite that was announced globally on 4 October. Sandhya Devanathan, vice-president and country head of Meta India, said in an interview that the pilot is also active in India now, albeit as a “large pilot" made available to select creators right now.

Rajya Sabha. After the meeting, Congress Chief Mallikarjun Kharge addressed the media and informed that INDIA bloc will hold a nationwide protest on 22 December against the suspension of 141 MPs from Parliament The Congress chief said the coalition also passed a resolution condemning the suspension and calling the action "undemocratic". As many as 49 more opposition lawmakers were suspended from Lok Sabha on Tuesday for 'unruly conduct', taking the total number of MPs suspended in both Houses of Parliament to 141.

By Dietrich Knauth

Hiring of freshers is likely to decline in the current fiscal as major IT companies look to freeze intake of freshers, according to a report.

India’s second & holiday homes, once believed to be trophy assets for the selected few, are now increasingly becoming mainstream. The market is presently sized north of USD 2.1 billion and is growing at a commendable rate of 23.6%, as per the research by Axon Developers.

The 8th edition of the Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) is currently underway in Bangkok, Thailand, hosted by the Royal Thai Navy from December 19 to 22, 2023. Leading the charge is Admiral R Hari Kumar, Chief of the Naval Staff, who heads a three-member Indian Naval delegation for the Conclave.

FRANKFURT (Reuters) — Austria's Raiffeisen Bank International, one of the banks in Europe most exposed to Russia, said on Tuesday that it will take a nearly 28% stake in Austrian construction group Strabag.