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energy storage is essential to enable the renewables growth Prime Minister Narendra Modi has promised, but so far incentives have been lackluster, according to the head of California-based Energy Vault Holdings Inc. The promising renewables market in India could be stifled by the high cost of power storage, which will become an essential component of the transition away from fossil fuels, Robert Piconi, chief executive officer of the company, said in a interview. Renewable electricity available at any time of the day and night “is sort of a holy grail,” Piconi said.

By Marc Jones

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Ministry of Information and Broadcasting has initiated a series of crucial amendments to the Cable Television Network Rules, 1994, aimed at streamlining the Multi-System Operator (MSO) registration process and promoting infrastructure sharing with broadband service providers to expand internet access across the nation. According to the press release by the Ministry of Information and Broadcasting, MSOs are now required to apply for registration or the renewal of registration online, utilizing the Broadcast Seva Portal of the Ministry of Information and Broadcasting. This move towards digital processes aligns with the government's commitment to facilitating business operations and reducing bureaucratic hurdles. MSO registrations will now be granted or renewed for a more extended period, specifically for ten years.

(Reuters) — European shares edged higher on Thursday, supported by gains in energy stocks as oil prices rallied while investors awaited inflation data from Germany, the euro zone's biggest economy.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The video of Blinken's outstanding performance has amassed more than seven lakh views and garnered over 15,000 likes.

India retained 40th position on the Global Innovation Index 2023, released on Thursday, The annual index, by the World Intellectual Property Organization, ranked 132 economies on the innovation index. «The consistent improvement in the GII ranking is owing to the immense knowledge capital, the vibrant start-up ecosystem, and the amazing work done by the public and private research organizations,» NITI Aayog said in a statement. According to the Aayog, India has been on a rising trajectory, over the past several years in the Global Innovation Index (GII), from a rank of 81 in 2015 to 40 in 2023.

By Jamie McGeever

A look at the day ahead in European and global markets from Tom Westbrook

Anurag Singh, Managing Partner, Ansid Capital, says “rates are going to be higher for a bit longer. The Federal Reserve last week clearly revised the dot plots and this time they are saying there are no cuts at least till the middle of 2024. If we put all this together, the picture is that when the rates are 5.5% with another 25 basis probably coming, can the markets be at 20x multiples? By the way, the entire rally was hinging on just seven stocks. That is also kind of coming back to roost.” What is this extended move on the dollar index for the last six days indicating? Traditionally we spell bad news for equities, especially emerging markets? Yes, true.

By Selena Li

Canada — driven largely by a substantial influx of immigrants and students. These numbers come at a time when the Trudeau government is stuggling to control an acute housing crisis, exacerbated by a lag in construction and the arrival of a large number of newcomers. Statscan had previously reported a population growth rate of 2.9% in the 12-month period ending on July 1, 2023. However, the release on Wednesday offers a more detailed breakdown of this growth. Economists have noted that the arrival of new residents is placing a strain on public services and impacting the Canadian economy, which had, until recently, been experiencing overheating. The population of Canada on July 1, 2023, reached 40,097,761, marking an increase of 1,158,705 individuals compared to the previous year. A staggering 98% of this growth can be attributed to net international migration.

“We are hoping that 2024 will be a breakout year for India in terms of flows with more tailwinds than headwinds,” says Harendra Kumar, Managing Director, Elara Securities India. In an interview with ETMarkets, Kumar said: “There is always some tactical money that finds its way in/out of India during some macro headwinds. There is more money waiting to come in, than to go out” Edited excerpts: After hitting 20,200 on the Nifty50, the market is going through some healthy consolidation. In terms of global overhang, we have the US Fed outlook, a rise in Dollar index, crude, and recent Canada comments. Have we made a top? The Nifty was around 18500 in Oct 2021, and it has taken us two years to reclaim the top — so it is hardly a euphoric event, except that it is a headline moment.

Uday Kotak, Founder & Director of Kotak Mahindra Bank said on Thursday in a tweet. The billionaire businessman said that Evargrande has finally imploded while attributing the crisis to delays in action by Chinese policymakers. «Evergrande China finally implodes.

Gold edged up on Thursday but hovered near a more than six-month low hit in the last session, as the dollar and Treasury yields held at elevated levels, with markets awaiting U.S. economic data for clues on the Federal Reserve's interest rate path. FUNDAMENTALS * Spot gold was up 0.1% to $1,876.89 per ounce by 0040 GMT, after shedding 1.4%, its biggest daily decline in two months, on Wednesday.

Reuters that production at the division had also been affected, adding the extent of the impact was being analyzed. Currently, the carmaker is grappling with lower production at its all-electric Zwickau plant where muted demand for battery-powered vehicles may change a long-standing three-shift system. Volkswagen said there had been an unspecified "IT malfunction of network components" at its site in Wolfsburg, Germany, its global headquarters, Reuters reported.

By Casey Hall and Sophie Yu

Nomura has upgraded its ratings on India to 'overweight' as it sees the recent 'softness' in the stock market driven by higher oil prices as an opportunity to raise bets here. The firm's top stock picks in India include ICICI Bank, Axis Bank, L&T, Reliance Industries, ITC, Medplus Health, and Uno Minda. «We see recent softness driven by higher oil prices as an opportunity to raise exposure,» said Nomura's analysts including Chetan Seth, Anshuman Agarwal, and Ankit Yadav in the firm's Asia strategy note to clients.

Wall Street is holding relatively steady, but only after swinging up and down through the day as pressure from the oil and bond markets cranked even higher

President Joe Biden has vetoed Republican-sponsored bills intended to undo federal protections for two endangered species that have seen their populations plummet over the years

Are high gas prices burning a hole in your wallet