Country Financial News

Crimes against women in India rose by 4% in 2022 from the previous year, a majority of the cases being cruelty by the husband or his relatives (31.4%). Delhi is still rated as the country’s most unsafe city for women, with an average of three reported rape cases per day, accounting for 29% of crimes committed against women in 19 major cities, according to 2023 data from the National Crime Records Bureau (NCRB).

On December 13, the Dow Jones Industrial Average accomplished a remarkable feat by reaching a new all-time high, marking the first time since early January 2022.

This was met by a sense of déjà vu among delegates of the Alliance of Small Island States (Aosis), an intergovernmental organisation representing the nations most vulnerable to climate change. In her post-summit statement, Aosis lead negotiator Anne Rasmussen expressed confusion that the UAE Consensus, COP28's final agreement, was approved when representatives from small island developing states (or Sids were not in the room. While some delegates hailed the consensus as «beginning of the end» of the fossil fuel era, Aosis countered that the document contained a «litany of loopholes» which did little to advance the key actions needed to stave off climate breakdown and deliver justice to islands and low-lying states facing the gravest consequences of the climate crisis. Aosis member states came to COP28 to build on the momentum of their victory in the final moments of COP27 a year earlier in Egypt, when delegates agreed to establish a loss and damage fund which would pay developing nations for the unavoidable and extreme consequences of climate change. The group had fought over 30 years in climate negotiations for this fund. Additionally, Aosis identified fundamental areas required to save Sids from impacts such as sea-level rise, desertification and climate migration.

For roughly two decades, Canadians have been telling Tim Hortons something’s missing from the company’s menu: The dutchie.

Biocon Biologics completes integration of Viatris' biosimilar business in 120 countries Biocon Biologics on Monday said it has completed integration of the acquired Viatris' biosimilar business in 120 countries, a year ahead of schedule. The company said over 10 emerging markets along with Japan, Australia and New Zealand have transitioned in this final phase of the integration of the biosimilars business acquired from Viatris. With the completion of this significant milestone, Biocon Biologics is now a fully integrated ‘lab to market’ biosimilars company committed to serving millions of patients across the globe. Around 70 emerging markets were integrated in July, the North America business transitioned in September and the European business in November. Biocon Biologics has made several key leadership appointments, built new capabilities and infrastructure from the ground up and set up dedicated teams to address the growing needs of patients and customers through self-led and partner or distributor-led commercial models. Biocon Biologics will now have a commercial footprint across 120 countries with a direct presence in the US, Canada, Europe and 9 key emerging market countries, namely India, UAE, Saudi Arabia, Morocco, South Africa, Brazil, Malaysia, Thailand, and the Philippines.

global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that artificial intelligence (AI) is here to stay and it will be beneficial if India prepares for it.

Meanwhile, China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. Xu Tianchen, senior economist at the Economist Intelligence Unit, said the data would be alarming for policymakers and cited three main factors behind it: falling global energy prices, the fading of the winter travel boom and a chronic supply glut. Early this month, rating agency Moody's downgraded the outlook for China's economy from 'stable' to 'negative' owing to persistently lower medium-term economic growth and the ongoing downsizing of the property sector in the country. China is struggling with grave portends for its economy which has been for long the toast of the world. China’s economy will slow next year, with annual growth falling to 4.5% from 5.2% this year despite a recent recovery spurred by investments in factories and construction and in demand for services, the World Bank said in a report last week. While it was briefly seen to be emerging strongly out of the Zero-Covid policies, the hope was short lived. The ongoing real estate crisis has dampened the consumer spirit, huge debt is weighing down the economy, foreign investors are losing confidence and unemployment and deflation are dogging the world's second-largest economy. Add to that President Xi Jinping's crackdown on private business. While China is not heading towards a collapse, its miracle growth is now a thing of the past.

Asian Development Bank for two loans of $250 million each essentially for the country’s infrastructure sector. One of the ADB loans is for a project that supports India’s National Industrial Corridor Development programme and the other will part-finance the construction of the 82-kilometer Delhi-Meerut Regional Rapid Transit System (RRTS) corridor, according to the statements by the multilateral institution. The pacts were signed by Juhi Mukherjee, joint secretary in the finance ministry and Hoe Yun Jeong, deputy country director at ADB. Earlier, ADB had approved a $1.049 billion Multi-tranche Financing Facility (MFF) to support the construction of RRTS. The project will help the RRTS improve urban mobility, and women and the differently abled will benefit from its economic impact, Mukherjee said. Passing through the populated sections of the national capital region, the 82-km corridor is aimed at providing fast, safe, and high-capacity commuter transit services, expanding economic and job opportunities by cutting travel time from three-four hours now to about one hour, according to one of the statements. The other loan of $250 million will continue support to industrial corridor development to make manufacturing more competitive, bolster national supply chains and links with regional and global value chains, and create more and better jobs, according to another ADB statement. This loan builds on another financing of $250 million approved by the ADB in October 2021 that helped strengthen policy frameworks for India’s National Industrial Corridor Development Programme (NICDP) and develop 11 industrial corridors, it added. The latest loan will help in the integration of industrial corridors with transport,

Investing.com — Oil prices soared higher Monday on concerns of disruptions to global supply, particularly to the important Asian market, following mounting attacks by the Houthis on ships in the Red Sea.

The Gilded Age, led by the talented Carrie Coon and featuring a stellar cast, promises to return for a third season, with its blend of drama stirred by both old and new adversaries. Whether it's the shrewd manipulation of high society by Coon's character Bertha or the delightful 'tact' served by Christine Baranski, fans eagerly await the continuation of this period drama.

Pakistan Army Chief Gen Syed Asim Munir during his USA trip in a desperate move has launched a charm offensive on the Pakistani diaspora, urging them to invest in Pakistan. Wealthy Pakistani individuals in the USA — investors, physicians, IT professionals, engineers, university professors, financial experts, and economists attended an event during the ongoing visit of Munir.

NEW DELHI : Apart from a stable regulatory and policy regime, transparency in decision-making and information flow are key to attracting foreign investors to emerging economies such as India, said Matthew Stephenson, head of investment and services at the World Economic Forum. Foreign investors are keen on emerging markets, especially India, at a time of slowing global growth, but want the right information before making a decision, Stephenson said, speaking with Mint on the sidelines of the World Investment Conference 2023. “You can’t calculate your costs if you don’t have information.

Narendra Modi uses radio (and the internet) for wide and deep penetration of his weekly Mann Ki Baat talk. But the policy lessons from this access appear to have been forgotten in a country enraptured by the smartphone and app revolution. From a policy perspective, radio should retain importance, particularly for community-based broadcasting, emergency situations and education.

international travel insuranceplan. Take a look and you will know just how important an insurance cover this is: This is one of the biggest reasons why you need to invest in a good travel insurance plan when travelling abroad as a student. You will be away from your parents and if any medical emergency pops up, you will have to address it on your own.

markets and a depreciation of the domestic currency is likely to enhance the competitiveness of the country’s exports while making imports of goods costlier. In a written reply in the Lok Sabha, minister of state for finance Pankaj Chaudhary also said spill-overs from geo-political tensions, aggressive monetary policy tightening across the world and recent surge in crude oil prices are some of the factors exerting pressure on the rupee against the dollar. At the same time, the exchange rate is only one of the several factors that influence demand for exports and imports in an economy, Chaudhary said. These factors include the types of the tradeables (essential or luxury items), availability of substitutes, freight costs and income growth of countries that buy goods and services from India. “Thus, the impact of recent depreciation of the Indian Rupee against the US Dollar, on levels of exports and imports cannot be isolated,” he added. The domestic currency has depreciated by more than 41% against the greenback since May 30, 2014 when one dollar equalled Rs 59.03. He said the Reserve Bank of India (RBI) regulates the foreign exchange market with a view to ensuring its “orderly functioning and development while eschewing undue volatility”. The central bank has announced a raft of steps in recent years to diversify and expand the sources of forex funding to mitigate exchange rate volatility and dampen global spill-overs, Chaudhary said.

Domestic natural gas consumption rose 6% in November over the same month last year, helped by increased supply from domestic fields, the oil ministry data showed. Imports of liquefied natural gas (LNG) expanded 5% year-on-year in November while the output from domestic gas fields increased 7.6%. The overall domestic production was boosted by the 26% increase in output from fields operated by the private sector.

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The Canadian government is poised to pass rules requiring all new vehicles sold in the country to be zero-emissions by 2035, according to news reports.

In a move that could reshape its economic landscape, Bhutan has announced the establishment of a new Special Administrative Region (SAR) in Gelephu, strategically located along its border with India. The announcement, made by King Jigme Khesar Namgyel Wangchuk during his National Day speech on 17 December, signals Bhutan's intent to revitalize its economy by leveraging its geographical position to bridge South and Southeast Asian markets. Mint explores what this means for Bhutan and the wider South Asian region, with a special focus on India's role in this ambitious endeavour.

Nabis Director of Policy Eddie Franco discusses New York marijuana regulators working toward a distributor license extension on 'Kennedy.'

Sri Lanka Navy has arrested 14 Indian fishermen and seized their trawler for allegedly poaching in the island nation's waters, taking the total number of arrests this year to nearly 240. These fishermen were arrested on Sunday off the coast of Karainagar in the northern Jaffna peninsula, the Navy said in a release on Monday.