Country Financial News

Investing.com — The Dow closed lower Monday in muted trade as investors were reluctant to make big bets on stocks ahead of further catalysts including key economic data due later this week.

Binance founder Changpeng Zhao (CZ) could be sentenced to up to ten years in prison following his exchange’s historic legal settlement last week, according to a new filing from the Department of Justice (DOJ).

Binance founder and former CEO, Changpeng Zhao, must stay in the U.S. for the time being until his sentencing in February of next year, a federal judge has ruled.

Joe Biden is the only President in the history of US to be over 80 while in office. The incumbent chief executive, who recently celebrated his 81st birthday, was also the oldest American president when he took the top job at the age of 78. His predecessor Donald Trump previously held the record for the country's oldest President. Biden's age has become a cause of concern as the country gears up for election next year.

Ottawa plans on expanding its clean technology and electricity tax credits to include heat and electricity produced by burning biomass, as outlined in its fall economic statement.

National Skill Development Plan, said people familiar with the development. It will help map human resource requirements in each district of the country which will form the basis for setting up skilling targets under the fourth-phase of the flagship skilling scheme, Pradhan Mantri Kaushal Vikas Yojana (PMKVY 4.0), they said. The move signals a strategic shift since targets have so far been based on sector-wise demand, said a senior government official. «The idea is to expand outreach of the Skill India Mission and ensure employment generation even at the district level and below while also preventing large-scale migration to urban centres for work,» said the official, who did not wish to be identified. The proposed plan will focus on aspects including labour market and skill gap analysis, mapping demand for skilled workforce in the formal sector and employment generation capacity in each district. The demand and supply map of skilled manpower at the district level will then be used to formulate dedicated district plans that will flow into the state skill development plans, officials said. The Ministry of Skills Development and Entrepreneurship (MSDE) is gearing up to launch the fourth phase of the flagship skilling scheme, which is yet to secure the cabinet's approval. However, the government has moved ahead with the first round of financial sanctions under the scheme, said one of the officials.

Tamil Nadu chief minister MK Stalin on Monday unveiled a statue of former prime minister VP Singh in Chennai's Presidency College to commemorate his 15th death anniversary. Singh is credited with the implementation of the Mandal Commission report, which paved the way for 27% reservation for OBCs in central government jobs. The unveiling of Singh's status gains significance in the backdrop of the importance that caste census and OBC (other backward class) politics have gained in the political narrative across the country. The event was attended by Singh's family members and Samajwadi Party chief and former Uttar Pradesh chief minister Akhilesh Yadav, among others. Sources told ET that JD(U) and RJD, the leading political parties of Bihar which came to existence riding on the Mandal wave, were not invited for the function, and it was only SP leader Yadav who was invited. Exemplifying the vagaries of politics, SP leader Mulayam Singh Yadav had become opposed to Singh in the later years, and had gone with his rival Chandrashekhar. At Monday's event, Stalin praised Singh, calling it a duty of his party DMK to honour the guardian of social justice. Tamil Nadu provides 69% reservation in the state.

higher emissions by 2030 if they continue with the business-as-usual approach instead of cutting carbon dioxide and greenhouse gas emissions by 50% of 2019 levels by end of decade, according to a new blog by International Monetary Fund researchers before United Nations Climate Change Conference or Conference of the Parties of the UNFCCC 2023 or CoP28 summit. The researchers highlighted that countries would fall woefully short of the 50% target even if they were to follow their nationally determined contributions.

MUMBAI : The insurance regulator has asked top executives of Care Health Insurance Ltd to explain the issue of stock options to non-executive chairperson Rashmi Saluja despite being told not to do so, two people aware of the matter said. On 22 November, officials of the Insurance Regulatory and Development Authority of India (Irdai) summoned Anuj Gulati and Anoop Singh of Care Health and questioned them about “excessive" stock options issued to Saluja and Gulati, the people said on the condition of anonymity. While Gulati is managing director and chief executive of Care Health, Singh is chief compliance officer.

MUMBAI : FPI net inflows into Indian bonds in November have hit the highest level in 26 months, thanks to higher allocations by foreign investors to emerging markets like India in anticipation of US interest rates having peaked and buying by non-index funds ahead of the country’s inclusion in JP Morgan’s Global Bond Index - Emerging Markets next year. Analysts expect the flows to remain strong, though volatile.

Nirmala Sitharaman said on Monday, describing exchange rate fluctuations and high-interest rates as downsides for the Indian economy. Speaking virtually at the India Global Forum held in the UAE, Sitharaman said high-interest rates, especially in advanced countries, “will have a bearing on investments into India." “The domestic market and our macroeconomic fundamentals are fairly well-rooted. India is comfortably placed because of our stable policy and predictable tax domains, but factors outside are not in our control," Sitharaman said.

rainfall increases under global warming, according to a study published Monday that signals a future of more frequent catastrophic floods unless humanity curbs greenhouse emissions. It comes as countries prepare to meet at the COP28 summit in Dubai beginning later this week, amid fears it could soon be impossible to limit long-term warming to the 1.5 degrees Celsius scientists say is necessary to curb the worst effects of human-caused climate change. Researchers from the Potsdam Institute of Climate Impact Research (PIK) looked at the intensity and frequency of daily precipitation extremes over land in 21 «next generation» climate models used by a UN body in its global assessments. They then compared the changes projected by the models with those observed historically, finding that nearly all climate models significantly underestimated the rates at which increases in precipitation extremes scaled with global temperature rise. «Our study confirms that the intensity and frequency of heavy rainfall extremes are increasing exponentially with every increment of global warming,» said Max Kotz, lead author of the paper published in the Journal of Climate. The changes track with the Clausius-Clapeyron relation in physics, which established that warmer air holds more water vapor.

Didi Global said on Monday its ride-hailing app had experienced a «systems malfunction» after users in multiple cities including Beijing and Shanghai said they were unable to book rides in the evening. The company apologised for the issue on its official Weibo account and said it was urgently trying to fix it.

Canadian rock band, 'Nickelback' is all set to enthrall their fans once again. The band recently announced the big UK and European 2024 Get Rollin’ arena tour. After the successful North American tour supporting their latest LP, praised as a 'great rock album' in our 4/5 review for being crafted on the creators' terms with musical flair, songwriting finesse, and occasional immense force, the band is set to visit 12 cities across eight countries next May and June. The Lottery Winners will be joining the band on this tour. The band said that they are very excited to begin the Europe tour and meet every fan. As part of their 'Get Rollin' Tour,' the Canadian rock group is scheduled to entertain audiences with 12 arena performances across eight countries in May and June 2024. The tour will begin on May 16, 2024, in Glasgow, UK at OVO Hydro. Further, the tour will come to an end on June 8, 2024, in Munich, Germany at Olympiahalle. Adding more, the band said that it has been far too long since they have performed in Europe, and these will be incredibly special shows for the band.

COP28 host the United Arab Emirates planned to discuss possible natural gas and other commercial deals ahead of U.N. climate talks that begin this week, an investigation by the BBC and the Centre for Climate Reporting (CCR) said on Monday. The climate summit will be the first global assessment of progress since the landmark Paris Agreement in 2015, which set a goal of limiting global warming to well below 2 degrees Celsius (3.6 degrees Fahrenheit), while aiming for a cap of 1.5C. Climate scientists have said achieving that goal depends on phasing out fossil fuels. The investigation cited leaked documents, which it said were prepared for COP28 President-designate Sultan Al Jaber for meetings with at least 27 governments. They included talking points to further ADNOC's interests in LNG or petrochemicals, as well as state renewables firm Masdar's interests in renewables and other climate-mitigation measures. A COP28 spokesperson told Reuters the documents were «innacurate». «The documents referred to in the BBC article are inaccurate and were not used by COP28 in meetings,» a COP28 spokesperson said.

₹7,500, a rate that applies even to guests not staying at the hotel. Since 2018, hoteliers have been voicing their concerns that this tax discrepancy is leading to a loss of restaurant customers, who prefer standalone restaurants for the tax benefits they offer. The industry's stakeholders are pushing for a uniform GST rate of 5% for all dining establishments to level the playing field.

poor air quality. A number of areas in the national capital received incessant rainfall post sunset, combined with gusty winds of around 30-40 kmph.

By Marc Jones

(This Nov. 24 story has been corrected to add weekly loss data in paragraph 2 and show that there was no weekly oil price gain in the headline and paragraph 1)

By Luiza Ilie

Oil prices declined for a fourth day on Monday ahead of a meeting of OPEC (Organization of Petroleum Exporting Countries) and its allies, together known as OPEC+, later in the week. The member countries on November 30 will deliberate on supply curbs in 2024. The OPEC+ ministerial meeting was earlier scheduled to be held on Sunday, but was postponed to iron out differences with African nations as they had disagreed on supply cuts.