Country Financial News

LAHDC) in Kargil took oath on Tuesday while National Conference councillor Dr Jaffar Akhone was proposed as the chief executive councillor of the 5th council of the region for the first half of the five-year term. The NC and Congress had entered into a pre- and post-poll alliance in Kargil and formed the council after winning 22 seats — 12 by NC and 10 by Congress – out of the 26 seats. BJP won two seats while two others were won by the independent candidates.

Life insurance, particularly ULIP has been the most accused product for about a decade now, due to the cursed legacy, mostly of policies which were issued pre 2010 when ULIPs used to operate at disproportionately high charges which dipped into the benefit of customers. Though these bad memories were caused purely by ULIPs, the name "Life Insurance" is taken here consciously as the moment the name "Life Insurance" is spelt today a large section of customers tend to get a feeling of fear and aversion though ULIP was not an insurance focused but Investment centric product.

Chinese developers who have defaulted, would deepen the crisis roiling the property sector, which makes up about a quarter of the world's second-largest economy. Country Garden will be deemed in default on its overseas debt if it does not make a $15 million payment for a September 2025 bond by midnight in New York (0400 GMT). The repayments had not been made by early Wednesday, Reuters reported.

Sony Group Corp's India unit and Zee Entertainment Enterprises Limited (ZEEL) expect to close the pending merger deal — billed as one of the biggest in the country's media industry — as early as next month, multiple people familiar with the progress of the proposed transaction told ET. One of the sources said that despite financial institutions and lenders such as Axis Finance and IDBI having appealed the National Company Law Tribunal's (NCLT) decision approving the merger scheme before the National Company Law Appellate Tribunal (NCLAT), the union could still happen by as early as the first half of November. Another source said the Boston Consulting Group (BCG), which was tasked with completing the integration process, is working overtime to complete the responsibilities associated with the merger. «Our aim is to finish the merger by early November. The teams on both sides are working incredibly hard to finish the merger-related formalities,» said a senior official, who declined to be named. Legal & regulatory formalities Corroborating this information, another source said that the merger is nearing completion, even as a media report suggested that Tokyo-based Sony Group Corp has held exploratory talks with Walt Disney to acquire its India assets due to the delay in completing the merger deal with ZEEL. «While we are targeting to conclude the merger early next month, there is always a possibility of a delay considering the legal and regulatory formalities that are involved,» said the second executive cited above. Both Sony and Zee declined to comment.

The shock Oct. 7 massacre by Hamas gunmen has rallied Israelis to one another.

By Scott Murdoch

(Reuters) — Social media platform X, formerly known as Twitter, said on Tuesday it will test a new subscription model under which it will charge $1 annual fee for basic features.

Biden on Tuesday left the White House for a quick trip to Israel to show solidarity with the people of the country in the aftermath of the terrorist attack by Hamas. However, Biden had to abruptly scrap his trip to Jordan for a meeting with leaders of Jordan, Egypt and Palestine after the Palestinian Authority cancelled the summit following a huge explosion at a hospital in Gaza.

ANI, the Minister said, “Wherever Indians are stranded, our priority is to bring them back. We have successfully conducted Operation Ganga and Operation Kaveri now under Operation Ajay we are bringing people back from Israel. This is the fifth flight, and we have already brought 1180 people back home.

Reuters reported. In an official statement, the White House earlier said, “President Biden will then travel to Amman, Jordan, where he will meet with his Majesty King Abdullah, Egyptian President Sisi, and Palestinian Authority President Mahmoud Abbas." "He will reiterate that Hamas does not stand for the Palestinian people’s right to dignity and self-determination and discuss the humanitarian needs of civilians in Gaza," the statement said. Israel had declared war on Hamas earlier this month after a surprise attack killed more than 1400 people and took around 200 hostages.

By Wayne Cole

Launched a year ago in Europe, Sweat Economy builds on Sweatcoin, an app that pays people to walk in coins that can then be used to donate to charity and to get deals when buying goods and services from over 600 brand partners.Sweat Economy is powered by $SWEAT, or Sweat Token, a crypto asset representing tokenised physical activity, minted by steps. The token is managed via a non-custodial Web3 mobile wallet dApp.Accrued $SWEAT can be deposited into “Growth Jars” to be saved and multiplied, and unlock exclusive rewards within the ecosystem.

(Reuters) — Nvidia (NASDAQ:NVDA) said it may be forced to move some business operations out of countries that are in the purview of U.S. export curbs after the Biden administration on Tuesday expanded its restrictions on export of certain high-end technology.

Mercer Global Advisors has acquired a registered investment advisor, Kingfisher Capital, that manages $630 million in assets for more than 200 clients, the company announced Tuesday.

Car thefts are on the rise in the US, with Federal Bureau of Investigation (FBI) data revealing the latest trends in crime. In the United States last year, almost a million vehicles, valued at over $20 billion, were stolen.

Gold loan companies are seeing a surge in demand from semiurban and rural areas ahead of the festive season, with small businesses and individuals monetising their holdings to raise funds amid a general credit crunch. The recent rally in gold prices following the developments in West Asia has also made such loans attractive by raising eligibility. “There is completely no fear of Covid in this year’s festive season.

Tata Motors is looking to cement its position in the country's internal combustion engine (ICE)-powered sports utility vehicle (SUV) market with the new facelift versions of Safari and Harrier as well as new models Curvv and Sierra planned for 2024. The company on Tuesday launched internal combustion engine (ICE)-powered Safari — priced from ₹16.19 lakh to ₹25.49 lakh — and Harrier — priced from ₹15.49 lakh to ₹21.69 lakh. Tata Motors is also confident of selling 100,000 electric cars by the end of the current fiscal.

Hungarian Prime Minister Viktor Orbán has held talks with Vladimir Putin in a rare in-person meeting for the Russian president with a leader of a European Union country

Poland’s voters delivered a clear verdict

A Thai construction magnate whose conviction on poaching charges became a rare example of the rich and influential facing justice in the country was freed on parole, two months before his prison term ends

China is hosting its third international forum centered around President Xi Jinping’s signature policy, the Belt and Road Initiative, which over the past 10 years has built infrastructure across continents, burdening some smaller countries with debt