Foreign Financial News

South Korea’s crypto adoption grows as authorities disclosed that 70% of the nation’s reported overseas assets are cryptocurrencies.

growing partnership, Israeli Foreign Minister Eli Cohen has said that his country was willing to create more platforms of joint Research & Development to identify shared challenges, discuss and find solutions together, and even manufacture them together. Cohen also said that the scope for trade opportunities between India and Israel was huge and there is a strong desire to finalise a free trade agreement that will further strengthen the bilateral economic ties. «The Indo-Israeli defence relationship has been a key pillar of the growing partnership.

China's Foreign Ministry has asked all foreign consulates in Hong Kong to provide the personal details of their locally employed staff, as Beijing tightens its control over the semi-autonomous city. The Commissioner's Office of the Foreign Ministry, in a letter seen by The Associated Press, asked the consulates to provide staffers' names, job titles, residential addresses, identity card numbers and travel document numbers «in line with the Vienna Convention on Consular Relations and general international practice.» The letter, dated Monday and addressed to all consulate posts and the Office of the European Union, stated that they should comply with the request by Oct. 18, and that the details of staffers who are employed in the future should be furnished within 15 days. It wasn't clear whether China furnishes details of its staff in foreign missions to other countries. The request comes as Beijing has tightened control over Hong Kong in recent years following its imposition of a sweeping national security law aimed at stamping out dissent. Governments in the West have criticized the law as a dismantling of Hong Kong's political freedoms and civil society.

Thailand would soon tax foreign earnings from crypto traders, a tighter measure to close the loophole, which allowed overseas income into the country tax-free.

NEW YORK—Senior Chinese officials were told that an internal Communist Party investigation found ex-Foreign Minister Qin Gang to have engaged in an extramarital affair that lasted throughout his tenure as Beijing’s top envoy to Washington, according to people familiar with the matter. Qin, once considered a trusted aide to leader Xi Jinping, was stripped of his foreign minister title in July—without explanation—after he disappeared from public view a month earlier. At one point leading up to his ouster, the Foreign Ministry said the absence of 57-year-old Qin was due to health reasons.

Foreign companies operating in China say tensions with Washington over technology, trade and other issues and uncertainty over Chinese policies are damaging the business environment and causing some to reassess their plans for investing in the giant ma...

Narendra Modi and his Canadian counterpart Justin Trudeau during the G20 Summit revolved around Trudeau's concerns regarding the alleged involvement of Indian government agents in the assassination of Hardeep Singh Nijjar, a Khalistani terrorist based in Canada, according to Michael Kugelman. The Director of the South Asia Institute at Wilson Center has said that Trudeau utilised the opportunity to discuss his concerns directly with PM Modi. Trudeau's visit to India had a broader agenda—participation in the G20 Summit.

BEIJING (Reuters) — China's central bank and forex regulator met with foreign financial institutions and companies on Monday, as Beijing strives to attract overseas investment to support its recovery.

emerging markets (EMs), including India, experts believe. The public debt of the world's second-largest economy has been mounting, its property market is in deep distress, its exports are slowing and it has to deal with geopolitical issues too. China's economic outlook is bleak.

G20 summit successfully concluded in New Delhi last week, it managed to generate some positive headlines for India globally. Even India’s staunchest critics had to concede that contrary to their expectations, New Delhi managed to pull off a successful summit at a time when geopolitical and developmental fault-lines have been sharpening by the day. Despite the absence of Chinese President Xi Jinping and Russian President Vladimir Putin (and perhaps because of it), a large part of the world agreed and put its stamp on India’s global developmental priorities.

Kanwal Sibal keep sharing his views and opinions on geopolitics and India's foreign policies through opinion pieces with various media outlets. In 2017, he received Padma Shree- fourth highest civilian award of India by the then President of India Pranab Mukherjee.

foreign exchange reserves decreased by $4.992 billion to $ 593.904 billion for the week ending September 8, the latest data by the Reserve Bank of India (RBI) showed on Friday. Previously, forex reserves were up by $4.039 billion to $598.897 billion for the week ended on September 1. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $4.27 billion to $526.43 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves dipped by $554 million to $44.38 billion, while SDRs were also down by $134 million to $18.06 billion. Reserve position in the IMF decreased by $39 million to $5.03 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.

Nikolai Patrushev, the secretary of Russia's Security Council, wrote in Russia's foreign intelligence agency's house magazine: «In recent years, hundreds of employees of foreign intelligence services, as well as other persons involved in organising intelligence and subversive activities against our country and our strategic partners, have been identified and neutralised». Patrushev, a close ally of Russian President Vladimir Putin, is a former director of the Federal Security Service (FSB) and is seen as a key advocate of hardline, hawkish policies within the Kremlin.

The Biden administration plans to increase scrutiny of the investment plans of foreign-owned companies operating in the United States

Russia-Ukraine crisis, though it stopped short of direct condemnation. From a Karachi resident's perspective, India's effective hosting of the summit signals not only an honour for the nation but also a potentially significant economic boost. This sentiment contradicts the usual rivalry between the neighbouring countries and acknowledges India's growing importance on the world stage.

(This Sept.13 story has been corrected to fix the pronoun to 'she' in paragraph 8)

China has not issued a ban on the purchase and use of foreign phone brands, the Chinese foreign ministry said on Wednesday, in response to media reports that said some government agencies and firms had told staff to stop using Apple's iPhones at work. «China has not issued laws, regulations or policy documents that prohibit the purchase and use of foreign brand phones such as Apple's,» foreign ministry spokesperson Mao Ning told a regular press briefing when asked about the reports.

₹7 lakh a year through international credit and debit cards will be subject to TCS levy at the rate of 20 per cent effective 1 October 2023. Yes, taxpayers can claim a TCS refund in your Income Tax Return.

G20 summit was the 'value' of the India stake in foreign policies of other countries. For that alone, countries made compromises, thus ensuring a successful summit for India. So, what is the India stake? Put simply, almost all G20 countries want to invest in their relationship with India for long term.

A 25-year-old foreign student has been arrested in Norway on suspicion of espionage including illegal eavesdropping through various technical devices

₹20,000 TCS (tax collection at source) that was deducted on the stocks that he bought in February, it led to a discrepancy. “I got an intimation from the I-T department that said the gross receipt/income against which tax has been deducted at source has to be entered in the relevant schedule. My CA (chartered accountant) did not find any such irregularity except the foreign stocks bought after 31 December 2022 that I did not disclose.