Country Financial News

Defence Ministry is scheduled to take up two of India's biggest-ever fighter aircraft projects worth Rs 1.3 lakh crore for discussion in a crucial meeting this week including buying 97 new LCA Mark 1A fighter aircraft and indigenously upgrading 84 Su-30 MKI combat planes. «The projects are scheduled to come up for discussion at the Defence Ministry meeting scheduled on November 30,» defence sources told ANI. Sources said the 97 LCA Mark1A project would help the country to build a strong fighter aircraft manufacturing ecosystem across the country and also help the Indian Air Force to replace its MiG-21 fleet which is being phased out. The two projects are listed for discussion at the Defence Acquisition Council meeting planned on November 30. The Indian Air Force has already ordered 83 LCA Mark1A fighter planes and their deliveries are expected to start in February-March 2024. The value of the 97 aircraft is expected to be around Rs 65,000 crore which would be the largest ever fighter aircraft deal in the country. The Su-30 MKI fighter aircraft project upgrade programme is also one of the biggest ever programmes planned to be done completely indigenously where Indian weapons, sensors and radars would be fitted on Russian-origin planes. The project is expected to cost around Rs 64,000 crores. The Indian firm Hindustan Aeronautics Limited will be doing the complete design and development work on the aircraft which includes equipping the aircraft with the latest Virupaksha AESA radars. The Su-30 fighter jets are the mainstay of the Indian Air Force with 260 of them already in service.

Speaking on the milestone, Nalin Negi, CFO and Interim CEO, BharatPe, said, “BharatPe was started with the vision of empowering millions of offline merchants and MSMEs across the country, with best-in-class fintech products. This milestone reflects the trust bestowed upon us by our vast network of over 1.3 crores merchant partners. October was a great month for us- we achieved significant growth with loans facilitated on our platform.

New Delhi (India), November 27: Getting a visa for Australia and other countries can be a tedious job and many people who have a dream of going overseas for their career do not want to waste time. Going to Australia or any other country is a lifetime opportunity, and nobody wants to lose this opportunity. Many freshers who do not have any experience regarding immigration may get confused as a lot of questions may arise in their minds.

The “Global Stocktake": Governments will assess how they are placed to meet the promises of the 2015 Paris deal, and will accordingly chart the actions for the next phase. Energy transition: The phase-out of fossil fuels will again be in the spotlight. Climate finance gap: Crucial, especially with progress on the "loss and damage fund".

Aster DM Healthcare announced on Tuesday that it would sell its stake in its Gulf business to Alpha GCC Holdings for $1.01 billion as it looks to separate its businesses in India and the Middle East. The sale is anticipated to be completed in quarter 4 of financial year ending 2024. “The board of directors of Affinity approved the sale of shares held by Affinity in Aster DM Healthcare FZC to Alpha GCC Holdings Limited and the execution of definitive agreements in connection with the Transaction,” said Aster in a filing. The buyer, owned by Aster India's promoters and funds managed by Fajr Capital Advisors Limited, will have a shareholding ratio of 35:65, respectively.

It has been less than eight months since Niranjan Gupta was elevated to the position of CEO at Hero MotoCorp, and the world’s largest motorcycle maker has already moved with super speed through its launches in the premium segment and pursuing a focused strategy to gain market share across geographies and segments. Investors have given a thumbs up to the company’s performance, with its share price on a steady northward movement. Hero MotoCorp CEO Niranjan Gupta deep dives into the strategies the company is undertaking to reinvent itself in a free-wheeling conversation with Sharmistha Mukherjee. Edited excerpts: Your share price is now at a 5-year high, gaining 50% in last 8 months. What do you attribute this to? I would not like to comment specifically on share price movement, but I can talk about what we are changing at the company. Our company has a strong legacy, with iconic brands built over the last 40 years, providing mobility to millions.

By Maha El Dahan, Olesya Astakhova and Ahmad Ghaddar

Investing.com — U.S. stocks traded in a mixed fashion around the flatline Tuesday, as investors take stock of the strong gains in November so far while digesting  clues about the spending habits of U.S. consumers heading into the key holiday shopping season.

The eternal tussle between quantity and quality has been a subject of debate in various fields, including philosophy, art and innovation. This dichotomy is particularly relevant in the context of innovation, especially when considering the role of patents. Patents are commonly seen as a measure of a country’s innovative capacity.

Housing affordability and availability is a complex public policy issue. It is unlikely there is one expert who knows it all since it involves — at a minimum — a great understanding of many disciplines and how they all intersect with each other, including immigration policy, infrastructure knowledge, economics, public policy, how entrepreneurs tick, labour certification and supply issues, provincial landlord and tenant legislation, taxation policy, etc., etc. If a single expert on housing exists, I’ve yet to meet them.

how to distribute finances from wealthy countries, which have been responsible for the vast majority of carbon emissions, to vulnerable nations that are bearing the brunt of their impact. Although those negotiations will be vital for a just transition to a decarbonized global economy, socioeconomic inequalities within borders should receive equal attention.

₹20,000 crore assets under management. For the first 10 years of its existence, the company was focused only on south India, where it built its reputation, mostly by word of mouth. Twelve years later, in 2013, it opened an office in Mumbai and then started exploring the rest of the country.

Sri Lanka has paved the way for a $4.5 billion investment by China in Hambantota. The town, which also houses a port that was leased to a Chinese state-owned shipping company in 2017, is at the heart of India’s concerns about growing Chinese influence in New Delhi’s strategic backyard. Mint take a look at the announcement and its implication.

Investor confidence is finally returning to emerging markets as equities and bonds rally this month, luring fresh capital into exchange-traded funds that revolve around the asset class.

Researchers working inside a unit of BlackRock Inc. estimate that a reform of public financial institutions could free up as much as $4 trillion in additional spending to help emerging markets tackle the fallout of climate change.

Silkyara tunnel for the 41 trapped workers to be rescued. Ambulances, garlands, hospital beds, have been readied for the trapped workers, for when they are brought out. Rescue workers on Tuesday drilled through the 60-metre stretch of rubble of the collapsed Silkyara tunnel.

ALSO READ: India not the ‘best team’ in World Cup 2023: Gautam Gambhir says, ‘It did not matter whether you finished first…’ Reacting to a question about Dravid's future as India's head coach, Gambhir said on Sportskeeda, as quoted by Hindustan Times, "Dravid's contract as head coach should be automatically renewed. The kind of cricket that India played throughout the World Cup, if you are going to judge a coach by just one match then it is a wrong precedent." On the contrary, Gambhir expressed his reservations against Rohit's statements before the World Cup final. Earlier, on the eve of the final against Australia, Rohit had said that the team wanted to win the trophy for head coach Dravid for the kind of efforts he has put in for the betterment of the players, added the report.

The faster-than-expected integration of artificial intelligence (AI) has actually enhanced job creation rather than diminished it, especially among young and highly skilled workers, according to research published by the European Central Bank (ECB).

By Anisha Sircar

Investing.com -- U.S. stock futures oscillate around the flatline following a dip in the prior session, but equities remain on track to post November gains. Investors are also eyeing a potentially record-breaking amount of spending by American consumers on Cyber Monday. Elsewhere, reports say fast-fashion retailer Shein has confidentially filed for a U.S. listing, in what could be a boon for the stagnant IPO market.

Foreign Portfolio Investors (FPIs) have infused about Rs 12,400 crore into the Indian debt markets in November so far, making it the highest inflow in more than two years, on attractive yields offered by the country's debt. The inclusion of Indian G-Sec in the JP Morgan Government Bond Index Emerging Markets has spurred foreign fund participation in the Indian bond markets, market experts said. FPIs have been bullish on Indian debt since the beginning of 2023 and have invested throughout the year, except March, when they had pulled out Rs 2,505 crore, data with the depositories showed.