Indian Financial News

Indian diaspora in Germany staged a protest in Frankfurt in an appeal to Prime Minister Narendra Modi to help reunite baby Ariha Shah, currently in German state services custody, with her Indian parents. Waving the Indian national flag and holding banners reading “Modiji Save Ariha!” and “Ariha is Indian”, the group braved the rain on Saturday to make an appeal for the two-year-old toddler to be returned to her parents Bhavesh and Dhara Shah.

inflation data released last week bolstered investors’ hopes that the Federal Reserve was close to the end of its interest rate hike cycle. Adding further pressure, US producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years.

New Delhi: Credit rating agency Fitch Ratings has affirmed Indian Oil Corp Ltd’s (IOC) long-term foreign-currency issuer default rating (IDR) at ‘BBB-’ with a stable outlook. The agency also maintained the senior unsecured rating and the ratings on the outstanding senior unsecured debt of IOC at ‘BBB-’. “The IDR and outlook are equalised with the largest shareholder, the state of India (BBB-/Stable), under our Government-Related Entities (GRE) Rating Criteria, reflecting a very strong likelihood of state support," Fitch Ratings said.

The Indian stock market has been one of the best-performing markets in the world over the last 3 months. Over the last 1 year, 3 year, and 5 years, the Nifty 50 has delivered a CAGR of 21.6%, 23%, and 12.4%, respectively. This strong performance has been driven by the confluence of a number of factors.

While speaking to Indian Express, the former cricketer said that the BCCI should ask questions to Rohit Sharma and Rahul Dravid for taking wrong calls in the final. He said, “The selectors and board should be asking questions, ‘Why did you field first (at WTC final)? Okay, it was explained at the toss that it was overcast and all. The question after that should be, you didn’t know about Travis Head’s weakness against the short ball?”, Sunil Gavaskar said. Rohit Sharma had earlier pointed out that the Indian Cricket team needed more time for preparation, atleast 20-25 days. Gavaskar dismissed the claim saying that it’s the senior guys themselves who avoid travelling in advance for preparations since they know there’s no threat to their spot in the team.

Indian Hotels Company Ltd. slipped 0.21 per cent to Rs 388.5 in Monday's trade. It hit a high of Rs 393.9 and low of Rs 388.5 during the session.

emerging market averages but trailing the global reading (+28%). The net balance is derived by subtracting the percentage of respondents expecting a decrease or deterioration in a variable over the next twelve months from the percentage expecting an improvement or increase. Nevertheless, India emerged as one of only four countries to witness a rise in output prospects, while confidence dwindled in the remaining eight countries with comparable data, added the report.

US Federal Reserve continued to sound cautious, with Governor Christopher Waller Thursday saying that he expected two more rate hikes this year to bring inflation down to the 2% goal, though more good data on prices could obviate the need for the second hike.  Also Read: Q1 earnings, global cues & more: Key triggers for stock markets this week Japanese markets are closed for a holiday. China's Shanghai Composite Index declined 0.58% to 3,219.02, while the Shenzhen Composite Index dropped 0.34% to 2,051.13. South Korea’s Kospi dipped 0.43%, while Hong Kong’s Hang Seng index futures were trading around 100 points lower at 19,319.

NEW DELHI : The art market in India, riding on a decade-long upward trend, has seen a significant boost during the pandemic, led by a small group of dedicated Indian collectors. The emergence of a new category of Indian buyers who collect luxury products through auction houses highlights the growing interest in art. Although Christie’s discontinued its India auctions business a few years ago, the British art auction house remains positive about collector interest from the Indian subcontinent.

Google Doodle in the US and other countries, Zarina Hashmi is known globally for her minimalist art. Recognised as one of the most significant artists associated with the minimalist movement, Zarina Hashmi, the late Indian American artist and printmaker, left an indelible mark on the art world. Through collaboration with guest artist Tara Anand from New York, the doodle artwork honouring Hashmi beautifully captures Hashmi's exploration of concepts such as home, displacement, borders, and memory, employing minimalist abstract and geometric shapes.

Lovepreet Singh and Purnima Pandey finished on the podium on the final day as hosts India wrapped up the Commonwealth Weightlifting Championships with a rich haul of 20 medals on Sunday. Indian weightlifters won a silver and a bronze medal on the last day of the competition. India won nine gold, as many silver and two bronze medals in total.

By Group Captain Praveer Purohit (retd)

Diaspora politics is going to get a lot more complicated and recent turbulence is an indicator of the policy challenges ahead. Pro-Khalistan protests in the US, UK, Canada and Australia have descended into vandalism, arson, rioting, incitement to assassination and inter-group violence. Last year, there was Hindu-Muslim communal violence in Leicester.

Metropolitan Museum of Art (MET) in New York is preparing to throw open its doors to an excellent curation of Buddhist stone sculpture by MET curator of South and Southeast Asian Art, John Guy, that will be on from July 21 to November 13. Replete with exquisite fragments bearing narratives from India's remote past, the exhibition and its accompanying catalogue, 'Tree and Serpent: Early Buddhist Art in India 200 BCE-400 BCE,' focuses on the Deccan's pivotal role in shaping the Buddhist landscape of early India and beyond. The historical Buddha Sakyamuni did not live or die in the Deccan.

World Youth Skills Day, Union Minister Dharmendra Pradhan on Saturday launched AI for India 2.0, a free online Artificial Intelligence skill training course in Indian languages. A joint initiative of Skill India and GUVI, this NCVET and IIT Madras accredited online programme will equip youth with frontier skills.

Tom Cruise magic’ is in full steam! The superstar’s latest outing, the espionage thriller ‘Mission Impossible: Dead Reckoning Part One’ has demolished box-office records in India. According to the Indian film trade tracking portal Sacnilk.com, the movie has earned a whopping Rs 30 crore in a span of three days! The movie enjoyed a spectacular box-office collection on the opening day — Rs 12.3 crore. Although the second-day collection dipped a bit (Rs 9 crore), it remained rock-steady at the box-office and earned Rs 9.28 crore the third day.

Foreign portfolio investors (FPIs) continued to sell Indian equities this week, with net inflows of ₹2,636.43 crores on July 14, 2023. This brings the total net inflows for the month to ₹14,582.63 crores. The inflow was broad-based, with inflow seen across all sectors.

Consulate here to express solidarity with India following a recent attempted arson at the diplomatic facility by Khalistan supporters. A video by Khalistan supporters, dated July 2 posted on Twitter, showed the act of arson at the Indian Consulate in San Francisco. It was the second such act of violence within months.

Ranil Wickremesinghe has said, days ahead of his first official visit to New Delhi. Wickremesinghe, also the cash-strapped country's finance minister, made this remark while addressing the Indian CEO Forum here this week. «Just as East Asia, including countries like Japan, Korea and China, witnessed significant growth 75 years ago, it is now India's turn, along with the Indian Ocean region,» Wickremesinghe said.

Narendra Modi received a dazzling welcome in United Arab Emirates (UAE) as the iconic Burj Khalifa was lit up with the colours of the Indian nation flag. As a part of the light-and-sound show at the Burj on Friday, setting the stage for PM Modi's arrival to the Gulf nation on an official visit, the skyscraper also showcased his picture, followed by a text that read, «Welcome Honorable Prime Minister Narendra Modi.» A leaping skyscraper in Dubai, United Arab Emirates, Burj Khalifa is one of the top attractions to visit in the city.

Silicon valley thumping their chest with pride and looking at what lies ahead for India. Some of the top representatives of the Silicon Valley companies echoed the sentiment that the successful launch of the lunar mission signalled the emergence of India as global leader in key areas of the technology sector.