Country Financial News

I need to send some money abroad (in excess of $250,000) as a monetary help to my son. How do I go about with it?

India is a huge exporter of services, and growing rapidly. The estimated value of services export for 2022-2023 was $323 billion, up from $254 billion in 2021-22, according to data from the commerce ministry. This includes the income of agencies, consultants, gig workers, exporters and other freelancers who serve overseas clients. If you are an exporter, a freelancer or regularly receive payments from overseas, you would know how much it hurts to pay exorbitant and opaque fees to banks and payment platforms. When receiving payment for your services in foreign currency, processing charges can range from 2% to 10% of the transaction amount. Since the break-up is usually undisclosed and borne by the recipient, these charges cut into your income. Therefore, it is important to clearly understand the common hidden charges.

AFP. On Monday, Iran's top diplomat and president, Ebrahim Raisi had said time was running out to reach a political solution and warned against the expansion of the Israel-Hamas war to other fronts. Amir-Abdollahian said Monday that "the resistance leaders" will not allow Israel "to do whatever it wants in Gaza".

AP reported. In Gaza, hospitals were on the verge of losing electricity, threatening the lives of thousands of patients, the report further added. Many have resorted to drinking dirty or sewage-filled water with taps dry, risking the spread of disease.

Hamas leader said on Monday the group «has what it needs» to free all Palestinians in Israel's jails, indicating the militant group may try to use the Israelis it kidnapped as bargaining chips to secure the release of Palestinian prisoners. Soon after Hamas official Khaled Meshaal made the remarks on the captives, who include Israelis and non-Israelis kidnapped by Hamas on Oct. 7, the group's armed wing separately said the non-Israelis were «guests» who would be released «when circumstances allow». Gunmen from Hamas took scores of hostages after rampaging through southern Israeli communities and military bases, killing over 1,300 people.

S Jaishankar on Monday said that cooperation in the Indo-Pacific region is in the shared interests of India and Vietnam as he underlined the significance of Asean centrality and highlighted the contribution of the Quad. Jaishankar, who arrived in Vietnam on Sunday on a four-day official visit, made the remarks during his address to the Diplomatic Academy of Vietnam on “India in the Indo-Pacific”. “Discussed why cooperating in the Indo-Pacific construct is in our shared interests. Underlined the significance of Asean centrality and highlighted the contribution of the Quad,” the minister posted on ‘X’. “Brought out how India and Vietnam, with their independent mindset, can promote a multipolar and rules-based global order,” he added. Jaishankar met his Vietnamese counterpart Bui Thanh Son and discussed ways to boost cooperation in areas like trade, energy, defence and maritime security while also sharing perspectives on Indo-Pacific as both India and Vietnam remain wary of China’s territorial encroachments in their respective regions. “Concluded a productive meeting of the 18th India-Vietnam Joint Commission today in Hanoi.

By Clare Jim

Investing.com-- New Zealand consumer inflation grew less than expected in the third quarter on softer import prices, taking more pressure off the Reserve Bank to raise interest rates further this year.

By Trevor Hunnicutt, Jarrett Renshaw and Humeyra Pamuk

Australian Securities and Investment Commission chairman Joe Longo punctured the crypto industry’s enthusiasm for federal regulation, warning it will take time to finalise licensing to avoid high-profile collapses like that of US crypto exchange FTX.

scooter sales in India are likely to regain their pre-pandemic peak in the next two years as strong premium-segment demand offsets the drag from weaker entry-level volumes, Diego Graffi, managing director of Italian automaker Piaggio, said. «The domestic two-wheeler industry posted a year-on-year double-digit growth in 2022-23 after three consecutive years of decline. We also expect the ongoing festive season to drive great numbers for the industry,» Graffi told ET.

TIRANA (Reuters) — The European Union wants to bring six Western Balkan countries closer to membership of the bloc but wants them first to implement reform and create their own single market, European Commission President Ursula von der Leyen said on Monday.

UK City Minister Andrew Griffith has called for more clarity and flexibility in the country's recently enacted crypto advertising rules, according to a Financial Times report.

By Rachel Savage

By Alexandra Valencia

Meesho on Monday claimed to have recorded 120 crore customer visits during its recently concluded 10 days festive season sale "Meesho Mega Blockbuster Sale". This is the first time Meesho hosted a festive season sale with Meesho Mall — a digital store within the platforms for brands and claims to have recorded 3 times growth than business as usual these days.

₹23,000 crore that are aligned with the 'Amrit Kaal Vision 2047’ for the Indian maritime blue economy, the statement added. The prime minister will also lay the foundation stone of Tuna Tekra all-weather deep draft terminal, to be built at a cost of more than ₹4,500 crore at Deendayal Port Authority in Gujarat. This state-of-the-art greenfield terminal will be developed in PPP mode.

China's foreign minister condemned Israel's actions for going "beyond the scope of self-defence" and called for it to "cease its collective punishment of the people of Gaza". "(Israel) should listen earnestly to the calls of the international community...

Investing.com — Oil prices slipped lower Monday, consolidating after recent hefty gains as the conflict in the Middle East continued to raise concerns about disruptions in supply from the world’s biggest oil producing region.

After years of zero interest rates, such an abrupt tightening is bound to break something.

By Philip Blenkinsop