Country Financial News

Narendra Modi and President Muizzu recently met in Dubai along the sidelines of CoP-28 and reportedly agreed to set up a “core group" on ties that would also look into the matter of troop withdrawal. The stakes have clearly risen.

Tata Group is gearing up to construct one of India's largest iPhone assembly plants, aligning with Apple Inc.'s strategy to expand its manufacturing footprint in the country, as per a Bloomberg report. The conglomerate plans to build the factory in Hosur, located in the southern state of Tamil Nadu, sources told the publication. The facility is anticipated to accommodate around 20 assembly lines and aims to employ around 50,000 workers within the next two years.

Narendra Modi and said that he cannot be intimidated or forced to take any decisions that are contrary to India's interests. While speaking at the 14th VTB Investment forum Russia Calling, he also spoke of PM Modi's tough posturing and stance when it comes to defending the national interests. "I cannot imagine that Modi could be intimidated, or forced to take any actions, steps and decisions that are contrary to the national interests of India and the Indian people.

proposed options for the phase-out of unabated coal, and an orderly and just transition away from fossil fuels. This might emerge as a contentious point for India, where "coal is and would remain an important part of India's energy mix". Coal and other fossil fuels are responsible for the emission of greenhouse gases, that, in turn, impact global climate and temperature.

Israel-Hamas War Day 63: Joe Biden holds talks with PM Netanyahu It was a solemn moment for all of Israel and not only for families of the 138 Israelis still held hostage. For some Israelis, the feeling is of a country shrinking. Some 200,000 Israelis have been uprooted from both the south of Israel where Hamas infiltrated and the north of Israel where Hezbollah attacked from Lebanon.

Ashutosh Tiwari, Managing Director and Head of Institutional Equities at Equirus believes Budget 2024 may be balanced, along with growth orientation, and it will also include populist measures with a focus on rural and lower strata of society which has been under distress post Covid. In an interview with Mint, he says NDA's win in the 2024 General Election will not trigger any sharp rally in the market.

Binance chief Changpeng Zhao has to remain in the continental United States ahead of his sentencing for violating U.S. anti-money laundering laws, U.S. District Judge Richard Jones said on Thursday.

ITC Ltd has overtaken rivals Adani Wilmar, Britannia, Parle Products and others to become the country's largest fast-moving consumer goods (FMCG) manufacturer in the foods space by domestic sales in the nine months to September, as per the latest data by market tracker NielsenIQ shared by three industry executives. ITC clocked food FMCG sales of ₹17,100 crore in the period, while Britannia was at ₹16,700 crore, Adani Wilmar at ₹15,900 crore, Parle Products at ₹14,800 crore, Mondelez at ₹13,800 crore and Hindustan Unilever Ltd (HUL) at ₹12,200 crore, NielsenIQ data showed. ITC has jumped from the fourth spot in the same period last year, when Adani Wilmar was leading the market. Adani Wilmar's sales in the January-September period last year stood at ₹16,100 crore, while Britannia was at ₹14,900 crore, Parle at ₹14,800 crore, ITC at ₹13,900 crore and Mondelez at ₹12,400 crore, as per NielsenIQ data. The industry executives said one of the key reasons ITC managed to overtake Adani Wilmar was due to the steep fall in edible oil prices. That has impacted the revenue of the country's largest edible oil company in the nine-month period.

Gal Meir Eisenkot, the son of Israeli Minister Gadi Eisenkot, and Sgt. Major (res.) Jonathan David Deitch of the 55th Brigade's 6623rd Reconnaissance Battalion have been killed in the Gaza Strip, the Times of Israel reported quoting the Israel Defence Forces (IDF). The IDF informed that Eisenkot (25), of the 551st Brigade's 699th Battalion from Herzliya, was killed in northern Gaza. It added that three other troopers were seriously injured and shifted to hospitals for treatment.

Life Insurance Corp (LIC) is stepping up activity in a space where banks are wary of a hawkeyed regulator and higher capital needs, with the country's biggest institutional investor in tradable securities recently buying debt issued by highly rated non-banking financial companies and corporates, including Reliance Industries. LIC subscribed to a lion's share of Reliance's ₹20,000-crore bond sale last month, while also taking up a major portion of a bond sale earlier this week by Tata Capital Financial Services (TCFSL), a subsidiary of Tata Capital, sources aware of the developments told ET. LIC had bought ₹13,000 crore of RIL's bonds, the sources said. The insurance sector giant is also said to have deployed funds in a September bond sale by another highly-rated NBFC — L&T Finance, the sources said. An email sent to LIC did not receive a response by the time of publication.

Global Capability Centres (GCCs) in the country has led to a 40-50% increase in the number of global and senior level roles based out of India in the last five years, numbers sourced by ET show. On an overall basis, an estimated 300,000-400,000 jobs are likely to be created in the GCC sector in the next 2-3 years, according to Deloitte estimates. In the fourth and concluding part of the Global to Local series, ET looks at the maturity and cultural shift of the talent ecosystem of GCCs and how it is driving the shift towards more global roles within Indian GCC leadership.

The United States and Mexico have agreed to monitor foreign investments and regularly share information about the screening process

The Biden administration is putting pharmaceutical companies on notice

The United Nations says at least three of every four Africans can’t afford a healthy diet because of an “unprecedented food crisis.”

European Union talks on comprehensive artificial intelligence regulations were paused after 22 straight hours

Terraform Labs’ founder, Do Kwon, is set to be extradited to the U.S. following months of speculation, according to a report from the Wall Street Journal released Thursday.

A grand total of 167 documentaries have qualified for consideration at the 96th Academy Awards, and there are 88 eligible countries for the International Feature category. Shortlists containing 15 films for each of these categories will be disclosed on December 21.

Canada will require its oil and gas industry to cut emissions to 35 per cent to 38 per cent below 2019 levels in six years in what the government is calling a historic first for a major fossil-fuel producing country.

India is the best performing economy in current times because of policy interventions by the government and green shoots of recovery are emerging in the rural economy as inflation is becoming moderate, Sanjiv Puri, chairman and managing director of ITC, said on Thursday. "(The) Q2 GDP numbers are a testament to how well the economy is doing," Puri said at the Confederation of Indian Industry (CII) Global Economic Policy Forum here. And that is a result of the spirit of enterprise, resilience of people, «enabled by a lot of very timely and purposeful policy interventions over several years», he said. While the government has handled inflation — which has been high due to global challenges — well, all sectors, particularly export-oriented ones, are not doing so well, Puri said. Driven by uneven and scanty rain, annual retail inflation had hit a 15-month high of 7.44% in July with food price inflation at 11.5%, its highest in more than three and a half years. The government took several measures to put a lid on food prices such as prohibiting export of wheat, restricting export of sugar, onion and rice, importing pulses, disposing off wheat, rice, and vegetables such as onions from its own stocks, bringing food inflation down to 6.61% in October. The Indian economy grew 7.6% in the second quarter ended September, beating expectations.

Supreme Court on Thursday asked the Centre to furnish the number of individuals who have been conferred citizenship under Section 6A of the Citizenship Act and details of administrative steps taken to deal with illegal immigration into the country, particularly into northeastern states. A five-judge constitution bench headed by Chief Justice of India (CJI) DY Chandrachud also directed the government to submit the estimated inflow of illegal immigrants into India, including, but not confined to Assam, after March 25, 1971. Under Section 6A — a special provision inserted into the Citizenship Act, 1955, as part of the Assam Accord in 1985 — people who migrated to Assam between January 1, 1966, and March 25, 1971, were allowed to register themselves as citizens. The Supreme Court also demanded to know the number of foreigners detected under the orders of foreigners' tribunals between January 1, 1966, and March 25, 1971, during the resumed hearing of a clutch of petitions challenging the constitutionality of Section 6A. It also summoned information «in respect of persons who are alleged to have entered India after March 25, 1971, (a) the total number of foreigners' tribunals set up by the central government, (b) the total number of cases disposed of, © the number of cases pending as on date, (d) the average time taken for disposal of cases, and (e) the number of cases pending before the Guwahati High Court on such issues». The bench asked the Centre to explain as to why Assam was «singled out» for action against illegal migration, especially when West Bengal shares a much larger border with Bangladesh. «What is the government doing now to ensure an impermeable border?» the bench asked solicitor general Tushar Mehta,

Maruti Suzuki ruled the roost with 7 of its models among the top 10 selling passenger vehicles in the country for April-November. Sports utility vehicles, with their commanding road presence and sporty look, are the new favourites.