Country Financial News

Ahmedabad and airfares to the city have surged manifold ahead of Sunday's World Cup cricket final between India and Australia, forcing many fans to either cough up the staggering rates or alter their travel plans. The chief executive of a Mumbai-based company, for instance, said he has decided to drive more than 500 km to Ahmedabad for the match. «It's crazy out there,» said the CEO, who did not wish to be identified.

India's G20 sherpa, Amitabh Kant, has said the India-Middle East-Europe Economic Corridor (IMEC) will be a resounding success, despite the Israel-Hamas conflict casting a shadow over its viability. «India will continue to play a central role, balancing interests and aligning incentives to ensure IMEC reshapes global trade,» Kant told ET, adding that the project is resilient enough to withstand the current turbulence in the Middle East. Minted in New Delhi on the sidelines of the G20 summit in September, this ambitious geo-economic and geo-strategic project is designed with two components — an eastern corridor connecting India to the Gulf region, and a northern corridor that will link the Gulf to Europe through a ship-rail transit network and road transport routes. «Despite the ongoing geopolitical tensions, on which India's position has been made clear at the United Nations, we should focus on the long-term significance of projects such as IMEC,» said Kant.

placement season. “It’s quieter this time,” said Sudhir Yadav, proprietor of a photocopy centre within the campus of a tier-2 engineering college in Pune.

World Cup. When NZ's Daryl Mitchell finished with a heroic 134 to take his team from utter defeat to noble defeat, Indian spectators stood up to applaud him at the Wankhede. It was heartening to see this, in what was otherwise a very war-like atmosphere, with stadium DJs exhorting the crowd to sing 1930s freedom songs, bafflingly, against the nice nation of New Zealand. If it happened the other way around, say we were in Auckland, and suddenly the stadium started doing their rugby chant, the Hakka, and audiences started slapping their inner thighs and calling us to war, I'm sure BCCI would have complained. As we go into battle finale today, like over a billion others, I'm in awe of an Indian team that seems to have the DNA of a 1980s West Indies team, but with far more wealth and stardom.

OBCs in our country? No one can tell you because there is a reason. There is a conspiracy, they do not want to tell you about your real population," said Rahul Gandhi at a rally on Thursday in Jat-dominated Hanumangarh constituency promising a caste survey if Congress government is voted back to power. About 600 kilometres away in Chittorgarh, ask Rajkumar Khateek about Congress' promise of a caste survey, he looks blankly.

Mohamed Muizzu of the Maldives formally requested on Saturday that India withdraw its troops from his strategically located archipelago, fulfilling an election pledge on his first day in office. Speaking with a visiting Indian minister, Muizzu asked New Delhi to recall personnel deployed to operate three gifted aircraft patrolling the maritime territory. «The President formally made the request when he met the Minister of Earth Sciences of India Kiren Rijiju, at the President's Office earlier today,» his office said in a brief statement. It did not set a timeline or specify the number of personnel to be withdrawn, but Muizzu announced at his inauguration the previous day that removing foreign troops was a priority. «The country will not have any foreign military personnel in the Maldives,» Muizzu said shortly after being sworn in at a televised, open-air ceremony. «When it comes to our security, I will draw a red line.

Philadelphia Marathon Weekend 2023 commenced from Friday, November 17 to Sunday, November 19, where seasoned runners and first-timers alike will take to the streets of the city for a series of races. This year marks the event's 30th anniversary. It has also been named one of the top ten marathons in the United States. Participants will jog through historic Center City, Fairmount Park, University City, Manayunk, and other neighborhoods. While onlookers cheer them on, runners will see the city's most recognizable monuments, such as the Philadelphia Museum of Art and Boathouse Row. The Philadelphia Marathon will happen on Sunday, November 19. From its humble beginnings as a 1,500-entry local competition, it has expanded to rank among the top ten marathons in the country. The races also benefit the American Association for Cancer Research, with a $600,000 objective this year. Here's all you need to know about Philadelphia's Marathon Weekend 2023 ahead of time:

Logistics Performance Index (LPI) ranking. Sumita Dawra, Special Secretary (Logistics) in the Department for Promotion of Industry and Internal Trade (DPIIT) met the nodal officers of the LPI dedicated cell formed in the stakeholder departments on Friday to discuss the Measures Taken and Action Plan for improving India’s LPI ranking. Dawra said that a targeted action plan is important to improve the logistics efficiency of the country and the country’s ranking in the World Bank LPI, according to a statement issued by the commerce and industry ministry. The dedicated cell meets every fortnight to assess the measures taken and outcomes achieved in improving performance across six parameters of LPI including customs, infrastructure, ease of arranging shipments, quality of logistics services, tracking and tracing, and timeliness. She added that the measures taken by the stakeholder ministries/departments will be showcased to the World Bank LPI team. At the meeting, Land Ports Authority of India (LPAI), highlighted that it has implemented a Land Port Management System to digitise operations and facilitate a secure electronic flow of information between all stakeholders at the integrated check posts, aimed to reduce the dwell time of cross-border movements (trade and passenger), enhance the efficiency of customs and border management clearance, and improve the timely delivery of shipments. As per the release, LPAI has been able to reduce the dwell time from 57 days to less than 24 hours. Manoj Gangeya, ED (Planning), at railways ministry highlighted the development of rail containerisation at ports and freight terminals, which is expected to increase the rail container loading from 80 million tonnes recorded last year

K Chandrasekhar Rao on Saturday alleged that the BJP and the Congress colluded to limit his political activities and see to it that the BRS is not expanded to Maharashtra. Addressing a poll rally, Rao attacked both the national parties alleging that Telangana was ruined during the Congress rule while the BJP-led Central Government has not sanctioned even a single medical college or Navodaya School to the state. Seeking votes for the BRS candidate, Rao said his party should be voted to power again for the development to continue.

Foxconn under its $2 billion incentive scheme to manufacture IT hardware domestically. Information technology minister Ashwini Vaishnaw said the companies are expected to invest 30 billion Indian rupees ($360 million) collectively, while creating 50,000 jobs in the sector. Approvals have also been granted to domestic manufacturers including Dixon Technologies and VVDN, the minister said.

Droupadi Murmu on Saturday said police officers have to always be updated in the field of technology. Addressing a group of Indian Police Service (IPS) probationers of 2022 batch who had called on her at the Rashtrapati Bhavan here, the president said that police forces have many challenges like cyber crime, drug cartels, left-wing extremism and terrorism. «Circumstances change rapidly due to the influence of new technology and social media.

automation major ABB India reported a robust second-quarter performance, with a 78.3% increase in net profit and 30.6% growth in revenue from a year earlier. While large orders have seen traction and demand from core sectors is expected to remain strong in the medium term, it is the tier-two and -three cities that are bringing in double-digit growth, country head and managing director Sanjeev Sharma tells Kalpana Pathak. Edited excerpts: The quarter has been a good one. What are the reasons for this growth? The quarter has been a solid one where we delivered on multiple fronts and the result of actions undertaken over several earlier quarters.

BJP MP Kirodi Lal Meena has claimed that the Gurjar community in Rajasthan has made a “ghar wapsi (homecoming)” to the BJP as its “big leader” Sachin Pilot was betrayed by the Congress and not made the chief minister. Meena, the BJP candidate from Sawai Madhopur taking on sitting Congress MLA Danish Abrar, also claimed that the Gurjar community was feeling “insulted” as Chief Minister Ashok Gehlot had hurled abuses at Pilot. The Rajya Sabha MP, who has been at the forefront of the BJP's campaign alleging graft charges against the Gehlot government over issues such as examination paper leaks, also slammed the Congress for what he claimed was “unprecedented corruption” during its tenure in Rajasthan. “Corruption has increased to such levels that you would not have heard that Rs 2.30 crore in cash is found in a government office and 1 kg gold is being found in almirahs. This is unprecedented and has not happened anywhere in the country.

Pakistan over the past two years. The Pakistani government and the banned militant organizations associated with it have remained silent about these killings.

Hamas in the besieged Gaza Strip, in the wake of the October 7 terror attacks, Congress MP Rajmohan Unnithan came up with a shocker on Saturday, saying that Israel Prime Minister Benjamin Netanyahu «should be shot and killed without a trial». Speaking at a rally to demonstrate solidarity with Palestine in Kasargod, Kerala, amid the ongoing conflict in West Asia, the Congress leader openly advocated the "Nuremberg model" (invoking the trial of Nazis in Nuremberg for the holocaust) against the Israeli PM. «You can ask what should be done to those who break all agreements under the Geneva Convention. After the Second World War, there was something called the Nuremberg trials for bringing those (Nazis) guilty of war crimes to justice.

IPEF members concluding the negotiations for fair and clean economy agreements, India should follow a cautious approach while finalising the text of these pacts as new commitments need not restrict its policy space or tax revenue generation abilities, a report said. Think tank Global Trade Research Initiative (GTRI) said in its report that after the conclusion of the negotiations, the IPEF member countries, including India will now do domestic consultations and legal reviews and prepare final texts of the proposed agreements. While doing that, the government needs to «focus on ensuring that new commitments do not overly restrict its policy space or tax revenue generation abilities,» it said. This includes careful considerations in areas such as clean economy commitments, labour standards, and agricultural policies, it added. India, the US and 12 other members of the Indo-Pacific Economic Framework for Prosperity (IPEF) have this week concluded the negotiations on the clean and fair economy agreements with a view to strengthen the implementation of effective anti-corruption and tax measures and promote sustainable trade. It was announced after the third IPEF ministerial meeting held in San Francisco, California, this week.

Goldman Sachs expects Brent prices to average at $92 per barrel (bbl)in 2024, and expects the oil market to tighten at a moderate pace amid solid demand while core OPEC supply remains low. The bank in a note dated Thursday said it expects a 0.7 million barrel per day (mb/d) deficit and a solid 1.6 million barrel per day demand growth in 2024. Goldman highlighted that while it expects the oil market to tighten at a moderate pace, still sees significant spare capacity to handle tightening shocks. It added in the note that Organization of the Petroleum Exporting Countries (OPEC) is poised to maintain Brent within the $80-$100 range by establishing an "$80 floor from the OPEC put, and a $100 ceiling from spare capacity." Meanwhile, Saudi Arabia and Russia, part of the OPEC+ group of producers, this month confirmed they would continue with additional voluntary oil output cuts until the end of the year as concern over demand and economic growth continue to weigh on crude markets. Global benchmark Brent futures were trading around $80 a barrel, after sinking 5% to a four month-low on Friday and on track for their fourth straight week of losses.

Investment in manufacturing: The Production-Linked Incentive (PLI) scheme is invigorating India's manufacturing sector by strategically targeting 14 key industries, including electronics, automobiles, pharmaceuticals, and more. As a result, early signs of success are evident, especially in the electronics sector.

The Hill. In a hypothetical match-up between Biden and Haley, the poll showed that Haley led with 55 per cent while Biden at 45 per cent, the report citing the poll stated. The poll was conducted from 2 November-7 November wherein 856 registered voters and 668 probable voters participated.

skipper Pat Cummins on Saturday said that a "good wicket" may be on offer for the title clash at the Narendra Modi Stadium on Sunday. The highly anticipated clash between the two cricketing giants will mark a fitting end to what has been a spectacular event so far.

UK visas, including those for study, work, and visit, were issued to Indians. Despite the fact that the UK is witnessing a massive labour shortage, securing employment in a new country poses challenges. However, understanding the right avenues can streamline the process.