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Indian Air Force is firmly on the path of indigenisation, with recent acquisitions resulting in a Rs 70,000 crore boost to the domestic economy, Air Chief Marshal VR Chaudhari told ET, adding that there has been a quantum increase in defence exports as well which will have a positive cascading impact on the economy in the coming years. The Air Force has been on a 'Make in India' drive, with more than 200 locally designed and developed light combat aircraft (LCA) set to be inducted and a range of helicopters, including attack choppers, set to be ordered soon. While 83 LCA Mk1A fighters have already been ordered, the air force has also moved a proposal to add 100 of the variant in an order that is expected to be of the tune of Rs 66,000 crore. The Air Force and Army are also working on inducting 156 'Prachand' light combat helicopters (LCH), at a cost of about Rs 50,000 crore. «Cash outflow to the Indian economy has been approximately Rs 70,000 crore through indigenous purchases.

United States touched record levels in September as it crossed the massive $33 trillion mark. In the past few years, there has been a significant surge in debt levels, particularly following a substantial 50% rise in federal expenditures between 2019 and 2021, as substantiated by information provided by the US Department of the Treasury. Exciting news! Mint is now on WhatsApp Channels.

₹42,999 for one-way and ₹52,999 for return. Apart from this, Air India said that all-premium economy fares start from ₹79,999 for one way and ₹1,09,999 for return. It added that currently, Air India’s premium economy class is available to guests traveling on select routes: Bengaluru-San Francisco, Mumbai-San Francisco, and Mumbai-New York.

Madhya Pradesh on Monday and will lay the foundation stone for various development projects in both states, said an official release. Prime Minister will dedicate to the nation and lay the foundation stone for various development projects worth about Rs 7,000 crore in Chittorgarh, Rajasthan. According to the Prime Minister's Office, to promote a gas-based economy, the Mehsana-Bhatinda-Gurdaspur Gas Pipeline will be dedicated by the Prime Minister. «The pipeline has been built at a cost of about Rs 4,500 crores. Prime Minister will also dedicate the LPG Plant of HPCL at Abu Road.

Investing.com — It's OPEC+ week ahead and we can expect the drone on how much higher crude prices can go to continue all week.

International Monetary Fund will begin holding meetings in Ukraine on Sunday to discuss policy goals and challenges with government officials and others there, the Fund's country representative Vahram Stepanyan said on Sunday. Ukraine's economy has been hit hard since Russia launched a full-scale invasion in February 2022, and the government has relied heavily on Western aid to finance social and humanitarian payments. The IMF said last week its mission had begun its second review of a $15.6 billion multi-year loan program for the country.

net sellers and pulled out of over Rs 14,767 crore from Indian equities in September, primarily due to dollar appreciation, steady rise in the US bond yields, and a spike in crude oil prices. Going forward, the outlook for FPI flows in India is uncertain, as it will depend on the performance of the Indian economy, the RBI's October monetary policy, and the outcome of the September quarter earnings, Mayank Mehra, smallcase, manager and principal partner at Craving Alpha, said. According to data with the depositories, Foreign Portfolio Investors (FPIs) have sold shares to the tune of Rs 14,767 crore in September.

Fountain, a provider of hiring automation software for frontline workforces, considers India as one of the «big hubs» in this space, a top company official said. The company is present in the US, Western Europe — UK, France, Germany as well as in South Africa, India, New Zealand and a few other countries. «The big hubs are India, UK and France,» Founder and CEO of the company Sean Behr told PTI.

crypto company: Binance. Stablecoin issuer Circle Internet Financial Ltd. and crypto investment fund Paradigm Operations submitted filings this week arguing that the Securities and Exchange Commission had overstepped its authority when it filed charges against the world’s biggest crypto exchange in June. The SEC has alleged that Binance engaged in what the regulator described as “an extensive web of deception, conflicts of interest, lack of disclosure and calculated evasion of the law.” Binance has called the complaint “disappointing,” and said it had engaged with the SEC in good-faith negotiations to settle the matter.

oil prices may have a marginal impact on India's FY24 wholesale and retail inflation, said economists. However, they said crude sustaining above the $90-level could be a downside risk for core inflation as companies begin passing on high input costs. «Unless retail fuel prices change, there is no direct impact of higher oil prices on Consumer Price Index.

Mohamed Muiz won the Maldives presidential runoff on Saturday, securing more than 53 per cent of the vote, local media reported. The election has turned into a virtual referendum on which regional power — India or China — will have the biggest influence in the Indian Ocean archipelago nation. Mihaaru News reported that incumbent President Ibrahim Mohamed Solih had received 46% of the vote and that Muiz had won by more than 18,000 votes.

By Nate Raymond

Congress is on the brink of a government shutdown, and many Americans are left wondering about the potential consequences. In this guide, we explore what a government shutdown entails and how it could affect various aspects of daily life.

closer to $100 a barrel, many investors took profits on the rally given ongoing macroeconomic concerns. Crude prices going above $100 per barrel mark brings inflationary pressures on global economy and will compel central banks to raise interest rates all over again. Front-month Brent November futures settled down 7 cents to $95.31 per barrel at the contract's expiry, up about 2.2 per cent in the week and 27 per cent between July-September.

BEIJING (Reuters) — China's lottery ticket sales in August soared to their highest for any month so far this year, amid public concern about the economy following months of mostly gloomy data including youth unemployment.

Zelenskiy said on Saturday he wants to turn Ukraine's defence industry into a «large military hub» by partnering with Western weapons manufacturers to increase arms supplies for Kyiv's counteroffensive against Russia. He was speaking at a forum his government convened with international producers to discuss how to jointly develop industrial capacity to build and repair weapons in Ukraine despite constant Russian bombardment. «Ukraine is in such a phase of the defence marathon when it is very important, critical to go forward without retreating. Results from the frontline are needed daily,» Zelenskiy told executives representing more than 250 Western weapons producers. «We are interested in localizing production of equipment needed for our defence and each of those advanced defence systems which are used by our soldiers, giving Ukraine the best results at the front today,» he told the forum in Kyiv. Zelenskiy said that air defence and de-mining were his immediate priorities.

₹14,768 crore worth of Indian equities and offloaded a total of ₹13,810 crore as of September 29, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL ) data. The ₹14,768 crore-figure also includes bulk deals and investment in primary market.

By Giuseppe Fonte

By Sara Rossi and Valentina Consiglio

An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices

Gold on the key London spot market declined to a six-month low on firm US dollar and a jump in Treasury yields. Hopes of interest rates staying higher for an unexpected period increased the demand for US assets. Despite a weaker Indian Rupee, domestic gold mirrored the trend with the most active MCX futures and shed its price to Rs 57500 per ten grams, its lowest level since March 2023.