Indian Financial News

regulatory framework for VDAs is imperative. This framework should strike a balance between fostering innovation and ensuring investor protection. India has the potential to lead the way in the global Web3 revolution. With a perfect blend of homegrown dynamic startups and investors who passionately embrace the potential of blockchain technology, India holds the key to unlocking immense possibilities. However, as with any emerging industry, it requires support from the government in the form of robust regulation. Denying banking and UPI services to compliant Indian exchanges is not only unjustified but also counterproductive to the nation's policy objectives of protecting Indian VDA users and maintaining oversight in the ecosystem. It is important to note that most of the Indian exchanges are compliant and employ robust measures, such as maintaining a KYC database and utilizing software that ensures secure and transparent trades. As these start-ups are invested in long-term business engagement, the interests of the investors are central. Therefore, it is crucial to grant UPI access to VDA exchanges that are registered in India and comply with Indian laws, such as the Prevention of Money Laundering Act (PMLA) and the Income Tax Act.

The October gold futures were trading at Rs 59,879 per 10 grams on the MCX in the opening trade, down by Rs 203 or 0.34% from Monday's closing price. Meanwhile, September Silver futures were trading at Rs 75,095 per kg, lower by Rs 332 or 0.44%. Track prices here MCX Gold ended up by 0.52% on Monday, while silver futures went up by 1.83% or Rs 1,352.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 1st August Japan’s Nikkei 225 gained 0.15%, while the Topix was flat. South Korea’s Kospi rose 0.66% and the Kosdaq added 0.48%. Hong Kong’s Hang Seng index futures traded around 270 points higher at 20,348, hinting a stronger open.

The Hollywood writers’ strike, now supported by actors, has halted film and television production in the US, resulting in potential delays for titles such as Avatar 3 and movies from the Star Wars and Avengers franchises. The strike, now entering its fourth month, is causing concerns among Indian studio executives and theatre owners, too, especially as the content slated to release early next year may not be complete, and actors may not be available for promotions.

₹701.17 crore, while domestic institutional investors (DIIs) bought securities for a net total of ₹2,488.07 crore. FIIs purchased shares worth a net of 13,922.01 crore rupees for the month up to July 31, while DIIs sold shares worth a net of 1,184.33 crore rupees. Whereas, the India's foreign exchange reserves fell by $1.9 billion for the week ended July 21 to $607.03 billion, according to Reserve Bank of India figures released on Friday.

Nanyang Technological University is looking at strengthening its research and academic collaborations with top Indian universities, Tim White, Vice President, International Engagement, told ET in an interaction. “The most important institutional collaborations NTU has are with IIT Madras and IISC Bangalore where through the generosity of an endowment from Kris Gopalakrishnan 50 Indian PhD scholars will be trained at NTU,” said White.

₹32.78 lakh crore in fiscal 2014-15 to ₹54.35 lakh crore in fiscal 2022-23 (provisional estimates), according to a written response from Pankaj Chaudhary, the Union Minister of State for Finance, in the Lok Sabha. The ministry noted an upward trajectory of GFCF, starting from ₹32,78,096 crore in fiscal 2014-15 to ₹34,92,183 crore in 2015-16, rising to ₹37,87,568 crore in 2016-17 and ₹40,83,079 crore in 2017-18.

India's startup scene has been rapidly growing ove... moreIndia's startup scene has been rapidly growing over the years, contributing significantly to innovation and job creation in the country.

It seems like Indian airlines are caught in a toug... moreIt seems like Indian airlines are caught in a tough spot due to the government's ambitious sustainability goals.

Canada has pleaded guilty to smuggling several Indian nationals from Canada into the US for profit. Simranjit 'Shally' Singh admitted to six counts of alien smuggling and three counts of conspiracy to commit alien smuggling during an appearance in Albany, New York on Friday. At the request of the US government, Singh was taken into custody on June 28, 2022, in Ontario, Canada. He was extradited from Canada to the US on March 30 this year, the US Attorney’s Office in the Northern District of New York stated in a release. From March of 2020 through March of 2021, Singh admitted to facilitating the smuggling of several Indian nationals from Canada into the US, via Cornwall Island and the Akwesasne Mohawk Indian Reservation in the St Lawrence River region.

Crisil Ratings on Monday projected a promising outlook for Indian sugar mills, with expectations of steady operating profitability for integrated mills amid market fluctuations. In a report, the agency said that key contributing factors include a surge in domestic sugar prices and rising sales of ethanol.

India exported USD 2.43 billion worth of smartphones in April-May this fiscal, driven by a multifold jump in shipments to the US which emerged as the biggest destination for India-made devices, according to the government data. The smartphone exports to the US jumped multiple times to USD 812.49 million during the first two months of this fiscal as against USD 92.2 million in April-May 2022-23, the commerce ministry data showed. The US accounted for one-third of the shipments in value terms.

Australia. Initial theories suggested that the object was «space junk». Now, officials have identified the mysterious object as nothing but debris from an Indian rocket. The barnacle-covered object is easily the size of a small car. Read on to know more about it. The mysterious space object was found at Green Head, a town which is about 250 km / 155 miles from Perth, the capital of Western Australia. The object was earlier being guarded by the police, though it did not pose a risk to anyone. The gold-hued canister measures around 2.5 meters long and 2.5 meters wide, and is now in storage. The Australian Space Agency has revealed the object was «most likely» to be “debris from an expended third-stage of a Polar Satellite Launch Vehicle". This kind of medium-lift launch vehicle, the PSLV, is operated by the Indian Space Research Organisation (ISRO). The third stage of the vehicle is catapulted at an altitude of 264 miles.Sky News reports the Australian Space Agency as saying that officials from India and Australia are working together to «provide further confirmation to determine next steps, including considering obligations under the United Nations space treaties». Garth Griffiths, a local, told ABC News that it was a local lady and her partner who discovered the object. It was “just floating on the edge of the water and dragged it out with their four-wheel drive," he said, adding, «There were barnacles and marine life growing on it.»

West Indies in the second ODI at Bridgetown, Barbados on Saturday, their first loss to Windies since 2019, has sparked debates over the team's experimentation with its batting line-up. During the first ODI, skipper Rohit Sharma batted at No. 7, a position he hasn't occupied since 2011.

Indian shooters and compound archers ruled the roost, bagging six medals including four golds at the World University Games in Chengdu, China on Monday. Shooters Aishwary Pratap Singh Tomar, Divyansh Singh Panwar and Arjun Babuta joined forces to outclass local favourites China to win the 10m air rifle men's team gold. The Indian trio, with a combined score of 1894.7, beat China's Li Xinmiao, Song Buhan and Zhu Xiaozhong (1881.9) to clinch the yellow metal while Kazakhstan finished third. Aishwary and Divyansh then made it a one-two finish in the 10m air rifle men's individual event. In a dominant display, Aishwary consistently shot scores in the higher 10s for a total of 252.6 to snatch the gold as Divyansh had to be content with a silver. China's Buhan was a distant third with a score of 229.0 Compound archers also contributed to India's tally, adding two golds and a bronze medal.

inflation data from across the region this week. US markets ending higher on Friday also improved sentiment. China is set to release its July purchasing managers index on Monday, while the US ISM surveys on manufacturing and services, the July payrolls report and European inflation due this week will also be eyed.

NEW DELHI : Corporate earnings in the June quarter met and, in many cases, exceeded market expectations, showed an analysis of 456 companies that have declared results so far. The aggregate net profit and revenue of these companies grew 32% and 7.88% from a year earlier, with profit growing at the fastest pace in eight quarters. Earnings are panning out mostly on expected lines with excellent performance from banks and weak guidance from the information technology (IT) sector, said V.K.

New Delhi: Russia’s largest integrated petrochemicals company PJSC Sibur Holding’s plan to build a large petrochemical plant with state-run Indian Oil Corp. Ltd (IOC) at Paradip has hit a roadblock due to the sanctions amid ongoing Russia-Ukraine war, said two people aware of the development. The two partners were slated to sign an agreement for the facility but Sibur, also Russia’s largest liquefied petroleum gas producer, has kept its plan on hold following the sanctions on Moscow amid the Ukraine war.

Al-Qaeda is shaping its Indian subcontinent offshoot to spread its operations to Jammu and Kashmir, as well as to Bangladesh and Myanmar. The Al-Qaida core in Afghanistan remains stable at 30-60 members, while the number of Al-Qaeda fighters in that country is estimated to be 400, reaching 2,000 with family members and supporters included, according to the report prepared by the UN Security Council 1267 Sanctions & Associated Committee that deals with the ISIS and Al Qaeda. Al-Qaeda in the Indian Subcontinent (AQIS, which is not listed by the UN) has about 200 fighters, with Osama Mehmood being the emir, according to the report.

Islam has received some money and a piece of land as gifts for embracing the religion. Anju — who now goes by the name of Fatima after converting to Islam — on July 25 married her 29-year-old friend Nasrullah, whose home is in the Upper Dir district of Khyber Pakhtunkhwa. They became friends on Facebook in 2019.

₹38,000 crore of a similar fund for the welfare of building and construction workers is sitting unused in governmental coffers. A centralized fund for gig worker welfare is a 19th century solution for a 21st century problem. A far better way is to channel money directly into individual gig worker welfare accounts.