Foreign Financial News

Uttar Pradesh's liquor landscape is undergoing a transformation as an influx of foreign brands seeks to attract patrons of alcoholic beverages. The state has witnessed a significant surge in the total number of registered liquor brands, soaring to 3,854 during the fiscal year 2023-23 – marking a considerable increase from the previous year's count of 3,106. This trend is poised to introduce formidable competition for local premium brands, as international liquor labels continue to penetrate the retail sector.

(Reuters) — Global ratings agency Fitch downgraded Ecuador deeper into junk territory on Wednesday, citing financing risks arising from a significant deterioration in fiscal accounts as the country heads to polls.

Ajit K Doval and China's foreign minister Wang Yi are believed to be in touch over the disengagement of frontline troops at the two remaining points along the Line of Actual Control (LAC) and are said to be discussing the future of political engagement ahead of the Brics and G20 summits. Doval and Wang have been in communication over the unresolved issues along the LAC since their meeting last month in South Africa on the sidelines of the Brics Summit, ET has reliably learnt.

Officials say Russia has resumed its targeting of grain infrastructure in Ukraine’s southern Odesa region, using drones in overnight strikes on storage facilities and ports along the Danube River

misunderstandings, actions of vested interests and conspiracies of foreign nationals trying to destabilise the state led to the widespread violence that claimed hundreds of lives and resulted in the loss of properties. After hoisting the Tricolour in the Independence Day's main function at the first battalion Manipur Rifles ground, Singh said: “We have to live together with harmony as we all live together for many decades.

LISBON (Reuters) — The number of foreign tourists visiting Portugal surpassed eight million in January-June, making it the best first half on record, official data showed on Monday.

Coast Guard on Monday carried out a mid-sea medical evacuation of a critically ill mariner aboard a foreign vessel off the Kerala coast amidst extreme weather conditions, a Defence statement said. The Coast Guard carried out the medical evacuation of mariner Valid Ola Gilbert, a Filipino national, from MV Evelyn Maersk onboard one of its vessels as it was difficult to shift him to the Advance Light Helicopter (ALH), the statement said. The vessel was enroute from Colombo to Suez Canal and was 110 nautical miles away from Kochi when the request for aid was received, it said.

China's State Council issued guidelines on Sunday that it said would further optimize the country's foreign investment environment and attract more foreign investment. The State Council said in a document containing 24 guidelines that authorities should increase protection of the rights and interests of foreign investors, including strengthening enforcement of intellectual property rights.

jobless recovery in America, and China appeared to be returning to its old robust self. Inflation was off the floor, seen as a good thing. Japan and the eurozone looked good.

COVID pandemic has slow down due to weak export demand from key trade partners and ongoing turmoil in its property market.

India units of overseas automobile and component manufacturers have stepped up their search for manpower in the country to drive their expansion plans, said industry executives. There is a 20-40% increase in demand for specialised talent in the auto captives this year in roles such as engineering, research and design, and IT, they said.

foreign exchange reserves dipped by $2.4 billion in the week ending August 4, in sync with dollar outflows as cautious overseas investors offloaded their investments in local equity market. The reserves stood at $601.5 billion at the end of the reporting period, Reserve Bank of India data showed.

It’s game on for Lendlease’s Australian Communities business, put up for sale via Macquarie Capital in April. First-round bids are in with at least four names throwing their hat in the ring, Street Talk understands.

foreign students in Germany are from India with over 42,000 students, a 25 per cent rise within a year, German Ambassador to India Philipp Ackermann said on Thursday. «Great! 42,000+ Indian students in Germany, 25 % more within one year.

Hambantota port tops this list of eight international ports where China is most likely to land its second overseas base. China built a full-fledged naval base at Djibouti in the Horn of Africa in 2017.

foreign exchange laws in India. A Section 8 company can receive foreign investments, as contributions or donations from overseas entities, subject to compliance with provisions of Foreign Contribution (Regulation) Act, 2010 (“FCRA"). However, the FCRA nod is not always forthcoming and getting it is a rather cumbersome task.

Ireland granted 6,868 employment permits to Indian in the first seven months of 2023, figures provided by the Irish government showed. The permit was distributed in fields like health and social work activities, information and communication activities, accommodation and food services activity, financial and insurance activities, agriculture, forestry, and fishing. So far, Ireland has granted a total of 18,367 employment permits in the first seven months of this year, figures provided by the country’s government showed while 967 were refused and 403 were withdrawn. In addition, previously, the government of Ireland announced that it made some changes to the terms and conditions of the Atypical Working Scheme, which is a short-term contract dedicated to all non-EEA countries’ nationals who want to work in Ireland for short term. This scheme provides individuals to work legally for short-term. The new changes that were introduced by the Department of Justice, from January 1 this year included the salary threshold for this program was amended from the National Minimum Wage in order to align with the salary requirement for General Employment Permit. This decision meant that all employers attempting opting for this visa scheme to get workers will have to ensure that the minimum salary surpasses €30,000. Another major changes included the reduction in wait time. Now, the permission under the Atypical Working Scheme is issued for 90 days.

MUMBAI : India is in a bright spot and seeing steady, long-term foreign investment inflows, ​according to P​.D. Singh, chief executive and managing director of corporate banking, India, at JPMorgan Chase Bank. In India, regulators have driven change by disruption and innovation, Singh said in an interview.

The Palestinian foreign minister has attacked the Biden administration as weak and uninterested in the Mideast conflict

Still catching up after the pandemic, vacationing Americans are streaming onto foreign shores in record numbers this summer. Maybe they should check out some cheap international stocks in between beach and museum visits.

According to FX strategists surveyed by Reuters, the US dollar will maintain its position versus the majority of foreign currencies over the next three months because of predictions that interest rates would remain higher for longer due to the strength of the domestic economy. Despite net short dollar positions reaching their largest level since March 2021, the dollar has increased by almost 3% (DXY) after it reached its lowest point in more than a year on July 14 due to waning expectations for Federal Reserve interest rate reduction.