Country Financial News

Oil India Limited (OIL) and and private sector producers contributed 0.3 MMT and 0.6 MMT, data released by the Oil Ministry showed. India's crude oil imports rose in October, after falling in the previous four months, as the world's third biggest oil importer and consumer shipped in more fuel to meet winter demand. According to PPAC data, crude oil imports increased by 2.2 per cent and by 0.6 per cent during October 2023 and April-October 2023 respectively, compared to the corresponding period of the previous year.

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HP has introduced free online courses on esports management and game development to upskill serious gamers in the country who do not have access to professional education in online gaming. According to a recent study by HP, nearly half of gamers rely on YouTube and fellow gamer buddies to enhance their skills while 61% are not aware of gaming courses that exist in India.

Thanksgiving Day Parade, bringing with it seasonal cheer, musical performances, and massive floats featuring new and returning characters. This year, the annual event will see 16 enormous character balloons, 26 floats, 32 novelty and heritage inflatables, 12 marching bands, 700 clowns, and an extensive lineup of artists. Here's a list of all the artists who will be performing at the Macy's parade: Cher: The pop goddess will be closing out the 97th parade as the final performer. Pentatonix: The Grammy-winning a cappella group, a perennial favorite during the holiday season, is set to commence their 2023 North American Christmas Tour, titled «The Most Wonderful Tour of the Year.» This comes on the heels of the release of their album «The Greatest Christmas Hits.» Amanda Shaw: A fiddler, singer, and songwriter fusing country and pop, Amanda Shaw known as the Queen of Cajun Country, has released six studio albums since 2001. Chicago: The enduring pop-rock ensemble Chicago continues to captivate audiences with their live performances even after 56 years in the music scene.

Amazon to provide training to micro, small and medium enterprises (MSME) in 20 identified districts to promote exports through e-commerce. As part of the MoU, Amazon and Directorate General of Foreign Trade (DGFT) will co-create capacity building sessions, training and workshops for MSMEs in districts identified by the DGFT as part of the ‘District as Exports Hub’ initiative outlined in the Foreign Trade Policy 2023, in a phased manner. Amazon will provide training by making digital catalogues and tax-related issues, among other services. The capacity building session will allow MSMEs to learn about imaging, digital cataloguing of their products, tax advisory amongst others. “To enable micro, small and medium enterprises (MSMEs) and boost e-commerce exports from the country, DGFT is collaborating with the various e-commerce players to leverage the Districts as Export Hubs initiative and promote e-commerce exports from the country,” the ministry said in a statement. The MoU was signed in the presence of Director General of Foreign Trade (DGFT) Santosh Sarangi, Chetan Krishnaswamy (Vice President, Public Policy Amazon), and Bhupen Wakankar (Director Global Trade Amazon India). “The initiative seeks to link local producers even in rural and remote districts with global supply chains.

India needs an additional 2.4 million (24 lakh) hospital beds to reach the recommended ratio of 3 beds per 1,000 people, fuelling the demand for healthcare-related real estate space, according to Knight Frank. Currently, India has an estimated 70,000 hospitals, of which 63 per cent are from the private sector, global real estate consultant Knight Frank and US-based Berkadia said in their report released on Thursday. «India is facing a deficit of 2 billion sq ft of healthcare space to cater to its current population base of 1.42 billion people,» Knight Frank India said in a statement.

Nagaland chief minister Neiphiu Rio said that Colombia, United States of America, and Germany will be the partner countries for Hornbill music festival which will start from December 1. The festival continues till December 10. Rio stated in X, “I am happy to announce that Colombia is the Country Partner of the Hornbill Music Festival 2023.

Syedna Mufaddal Saifuddin, head of the Mumbai-based Dawoodi Bohra sect of Islam, will be conferred 'Nishan-e-Pakistan', making him the fourth Indian to be honoured with Pakistan's highest civilian award. The announcement of the award comes as an acknowledgement of Dr Saiduddin's services, according to a statement by Pakistan President Arif Alvi, who approved the conferment on Wednesday. The date for the investiture ceremony was, however, not made public.

Paper imports into India surged by 43 per cent in volume terms in the first half of 2023-24, fueled by a more than two-fold jump in imports from ASEAN countries, according to official data. The Directorate General of Commercial Intelligence and Statistics (DGCIS) data showed that imports of paper and paperboard jumped to 959,000 tonnes in April-September 2023-24 from 672,000 tonnes in the first half of FY2022-23.

Also Read: Government proposes new law to regulate OTTs like Netflix, Amazon, Disney+ Hotstar. Details here Filmmaker Carl Rinsch had received $11 million from streaming giant Netflix for his sci-fi series. Later, he deposited $10.5 million into his Charles Schwab trading account and lost over half of it by trading options, according to the NYT report.

e India Meteorological Department on Thursday predicted isolated heavy to very heavy rainfall for the northern part of the state for today. As hilly areas witnessed landslides and mudslides in Idukki and Pathanamthitta districts, intense waterlogging affected the normal life of people in several places, cutting across villages and towns. Continuous rains flooded several low-lying areas of Thiruvananthapuram, disrupting normal life and creating traffic snarls.

BNP Paribas SA is imposing new financing restrictions as part of an updated policy around how to treat clients in the mining industry. The European Union’s biggest bank will no longer provide financing to projects dedicated to the extraction of metallurgical coal, according to an emailed statement late on Wednesday. “This new commitment is part of BNP Paribas’ efforts to align its credit portfolio in the steel sector with its net zero commitment," the bank said in the email.

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Amazon and the West Bengal Industrial Development Corporation (WBIDC) have signed a Memorandum of Understanding (MoU) to enhance exports from West Bengal. Through this partnership, numerous Micro, Small, and Medium Enterprises (MSMEs) in West Bengal will have the opportunity to sell their 'Made in India' products to customers on Amazon in over 200 countries worldwide. WBIDC will establish e-commerce export hubs and set up an e-commerce export facilitation cell in key districts of West Bengal, including Kolkata, North 24 Paraganas, South 24 Paraganas, Howrah, Hooghly, and others.

European Union, and the US-led Indo Pacific Economic Framework for Prosperity (IPEF). Inclusion of these issues in trade pacts could have negative impacts, they said, adding that the recent US presidential memorandum of Joe Biden on worker rights indicates a deepening focus on labour standards in trade deals. Negotiations are on fast track with a comprehensive trade agreement with the UK, which seeks to promote trade in goods, services and two-way investments.

Narendra Modi a "Panauti", West Bengal Chief Minister today called PM Modi a «Paapi». She said this while addressing party workers at the Netaji Indoor Stadium in Kolkata.

Anil Kothuri, MD & CEO, Fedbank Financial Services, says RBI’s intent is to clamp down on unsecured lending which is used to fuel consumption and that is what they seek to moderate and put guardrails around. “The loans that we do are loans for working capital for self-employed customers. To the best of my understanding, that is outside the ambit of the circular that the RBI has recently issued. Almost all the loans that we do in Fedfina qualify for priority sector lending by banks.” In terms of your loan book, I believe, 86% of the portfolio is backed by the assets for the company. Where do you see this target going up? Do you expect this to be at these levels in terms of the secured loan book or could this vary and maybe see a bit of a reduction? We are in business to empower emerging India with easy access to loans. We serve the working capital requirements of the small self-employed customer. We do that against the pledge of gold, mortgage of property and we do unsecured loans too. Our unsecured book is about 14% of the overall portfolio. But it has the lowest behavioural tenor. Unsecured loans get repaid within 30 months as opposed to secured mortgage loans which get repaid in about eight years. Which is why with each passing month, the proportion of secured loans in the portfolio keeps increasing. So, this 14% that you see will keep coming down with the passage of time and we will move to a greater proportion of secured assets in our book.

Abdul Razzaq has once again spewed venom against Indian cricket. In a viral clip on social media, the former Pakistan all-rounder spoke about India's loss to Australia in the ODI World Cup final, said, «Cricket won and India lost. Had India won the World Cup, it would have been a very sad moment for the game. They used conditions to their advantage and I have never seen such a bad pitch for any ICC final before.

NMDC Ltd share price gained up to 1.72% on Thursday during intraday trades on the BSE. The stock has seen a rise close to 40% since end August, is trading near 52 week highs. The rise in international iron-ore prices is boosting investor confidence towards country's largest iron-ore producer.

Bloomberg. Citing people familiar with the matter, the report said that the discussions also involve the two companies jointly building a new e-commerce platform.

Narendra Modi on Thursday and said the Indian cricket team won all matches in the ICC World Cup 2023 except the one that was attended by "sinners". “The Indian team played so well that they won all the matches in the World Cup, except the one attended by the sinners," Mamata Banerjee was quoted by news agency PTI as saying, without naming anyone. Her statement came days after Congress leader Rahul Gandhi for calling PM Modi a “panauti (bad luck)", while speaking at a rally in poll-bound Rajasthan on Tuesday.