Country Financial News

NEW DELHI : Jubilant FoodWorks Ltd, which operates master franchise rights from Domino’s Pizza in India, has announced a brand refresh for its flagship pizza brand that involves upgrading hundreds of pizza stores, apart from new packaging and a marketing campaign as the company hopes to get more consumers to choose pizza over local food. “India is a $50-billion food services market; pizza is only a $1-billion market. Our job is to gain share from dosa-sambar, vada pav, samosa, etc.

Narendra Modi held a telephonic conversation with his Israeli counterpart Benjamin Netanyahu on Tuesday to discuss the ongoing conflict between Israel and Hamas as well as concerns over the flow of shipping through vital West Asian corridors. “Had a productive exchange of views with PM @netanyahu on the ongoing Israel-Hamas conflict, including shared concerns on the safety of maritime traffic. Highlighted India’s consistent stand in favour of early restoration of peace & stability in the region with continued humanitarian assistance for the affected," Modi tweeted on X, formerly Twitter, a social media website.

NEW DELHI : Vikram Solar Ltd has signed a retainer letter with the US International Development Finance Corporation (DFC) for $200 million in funding for its 3 GW cell and module manufacturing plant at Gangaikondan in Tamil Nadu. The letter was signed at the recently concluded climate conference in Dubai, Vikram Solar said in a statement.

Earlier this week, the government introduced the Telecommunications Bill, 2023, in Parliament. It is intended to replace a law that was enacted over 100 years ago to govern telegraph communications, but one that has since been applied in India to every evolution of communication technology to date. If enacted into law, this will reset the way telecom is regulated in India.

The International Monetary Fund has reclassified India's «de facto» exchange rate regime to «stabilized arrangement» from «floating» for December 2022 to October 2023, the first such instance of such reclassification following an article IV review of the country's policies.

credit rating agencies and reforming the structure of the multilateral development banks (MDBs) to mobilise funds for green and sustainable growth across developing nations. “The way forward involves a new toolkit of policies and a reform of the structure of the MDBs to help them engage in capital mobilisation, better project implementation, joint financing, risk sharing and making sustainable infrastructure an asset class,” the Aayog said in its report on a Green and Sustainable Growth Agenda. The report, developed by NITI Aayog in collaboration with the International Development Research Centre (IDRC), Ottawa, and the Global Development Network (GDN), New Delhi, has been compiled following a G20 international conference on the theme in July this year.

IIFL Samasta Finance raised Rs 607 crore in its maiden public bond issue, with the lender aiming to maintain its growth momentum at about 25-40% in the next three years. Happy with the response to its first such fundraising, the company plans to follow up with another public bond issue early next fiscal, managing director Venkatesh N told ET. In this round, the NBCF-MFI mobilised over three times the base issue of Rs 200 crore even as it was aiming to raise up to Rs 1,000 crore through an option to retain oversubscription up to Rs 800 crore over the base size. «We have an approval for raising up to Rs 2,000 crore. Considering only a few months are left for FY24 to end and availability of some other undrawn lines, most likely we will hit the public bond market early next financial year,» Venkatesh said. In the second half of the current fiscal, the company plans to borrow about Rs 6,000 crore as compared with Rs 5,239 crore raised in the first six months.

Bandhan Bank on Tuesday announced the introduction of a new facility aimed at the senior citizens of the country. The bank launched 'INSPIRE' which will offer 8.35 per cent interest per annum on fixed deposits for a tenor of 500 days.

finance ministry on Tuesday said tax reforms, a sharp hike in capital spending “without weakening fiscal discipline” and robust public digital infrastructure are among a raft of steps initiated by the Modi government that would help India emerge as a $5-trillion economy. In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary said India is projected to become the third-largest economy in FY28 with a gross domestic product (GDP) of $5 trillion (from about $3.7 trillion in FY23), citing the International Monetary Fund’s forecast. Taxation measures “Direct tax measures such as the restructuring of the corporate tax rates, reduced tax litigation and removal of tax uncertainties have considerably reduced the compliance burden and resulted in high growth of revenues,” he said. Similarly, indirect tax measures include the implementation of Goods and Services Tax (GST), which has realised the goal of the One Nation, One Tax and OneMarket, expanded formalisation of the economy and ensured a high collection of GST revenue, Chaudhary added. The sharp hike in the government’s capital expenditure—from Rs 4.1 lakh crore in FY21 to the budgeted Rs 10 lakh crore in FY24 (BE)—has supported growth and also initiated the crowding-in of private sector investment, he said.

Natural Resources Canada is working on the first update to its plant hardiness zones map since 2014, hoping to have the map – which gardeners rely on when determining what plants will thrive in their region – available sometime in 2024.

Portland resident Damian Bunting provides insight on the citys crisis on The Bottom Line.

Lok Sabha elections. News agency PTI reported that no final decision had been taken yet on INDIA bloc PM face. The report added Congress chief Mallikarjun Kharge is of view that “winning first is important".

Ministry of Electronics and Information Technology (MeitY) said on Tuesday. S Krishnan, Secretary Ministry of Electronics and Information Technology said that even at 15 per cent value addition, the employment potential is immense and the government is prepared to support this endeavour by the entrepreneurs. Speaking at the Merchants Chamber of Commerce and Industry here, Krishnan said «Electronics manufacturing in the country is an important part of the new policy of the government.

Congress MP Rahul Gandhi was seen making a video of the performance, earning the ire of the Bhartiya Janata Party (BJP) and its leaders. Now add to that The Jat Association. The targeting of the vice president drew sharp reactions as the Rajya Sabha chairman Jagdeep Dhankhar himself termed the opposition actions as "shameful" and "insult" of his background as a farmer and "position as a Jat".

₹100 crore via the issuance of fresh equity shares. The price band for the offer has been fixed at ₹95–100 per equity share, with a face value of ₹10 each. Also Read: RBZ Jewellers IPO opens today: Should you subscribe to the issue? RBZ Jewellers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

By Phil Stewart

Savitri Jindal, chairperson of the OP Jindal Group, is India's richest woman and now also the fifth-wealthiest person in the country. According to a report by The Economic Times citing the Bloomberg Billionaires Index, Savitri Jindal has seen the highest net worth rise among India’s richest over the past calendar year, with her fortune growing by $9.6 billion during the period. Mukesh Ambani, whose net worth is highest among Asians, registered a rise of nearly $5 billion, and his total wealth now stands at $92.3 billion, added the report.

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Global NCAP, Bharat NCAP is poised to initiate its first round of vehicle testing from the specified date. Formally launched in August, it serves as India's independent vehicle assessment program. India joins the ranks of the United States, China, South Korea, and Japan as the fifth country globally to have its own domestic car crash test facility.

REC Ltd for working capital facilities. In a statement on Tuesday, Suzlon said the partnership is aimed at enhancing the company's capacity to meet its working capital needs, pivotal for executing its extensive current order book and prospective future projects. The renewable energy solutions provider anticipates that these facilities will accelerate its operational activities and optimize the use of its existing capacities.

South Korea, the United States and Japan said on Tuesday they have activated a new system to detect and assess North Korea's missile launches in real-time. The announcement comes after North Korea said it had tested the isolated state's newest intercontinental ballistic missile (ICBM) on Monday to gauge the war readiness of its nuclear force against mounting U.S. hostility. Here is what we know about the new missile warning data sharing system: WHAT INFORMATION IS BEING SHARED? Under the new mechanism, the three countries will share information on the launch site, flight trajectory and hitting point of North Korean missiles around the clock, South Korean Defence Minister Shin Won-sik said. The United States had until now shared such information separately with South Korea and Japan. «We will have warning data on North Korean missiles much faster, and be able to secure enough time to respond effectively,» Shin said in an interview with broadcaster MBN on Monday.