Indian Financial News

Canada, allegedly carried out under the directive of the Trudeau government. The Indian government is actively discussing these allegations following claims made by authorities in Ottawa to the Canadian media.

Hindustan Times. Ahamed was chosen as India's wildcard entry for the MotoGP Bharat Grand Prix in the Moto3 category and is on a Honda NSF250R at the ongoing event.

Mutual Funds of India (AMFI) on Friday welcomed the decision of global financial major JP Morgan to include government bonds in its benchmark Emerging Market Index from next year, saying it will result in more demand for government securities. It will help bring over USD 30 billion into government bonds or government securities (G-Sec), AMFI Chief Executive NS Venkatesh said. «We welcome the decision. This will increase the demand for government bonds resulting in the yields coming down. The forex inflow of over USD 30 billion will result in strengthening of Indian Rupee,» he told PTI. The inclusion of IGBs will be staggered over a 10-month period from June 28, 2024, to March 31, 2025, with a one per cent increment on its index weight each month.

Also Read: US Polls 2024: Vivek Ramaswamy's Silicon Valley fundraiser dinner to cost ₹41 lakh per ticket. More details here "Strength and pride are essential to our national survival, especially in the face of Communist China. China is an existential threat.

Canada. A dossier put together by Indian intelligence agencies claims that he became the head of the Sikh temple by threatening his own cousin and the temple’s former president Raghbir Singh Nijjar. Nijjar, the dossier adds, was an old associate of Khalistan Commando Force (KCF) terrorist Gurdeep Singh aka Deepa Heranwala, who was involved in over 200 killings in Punjab in the late 1980s and early 1990s.

India in Toronto has extended consular services for Indian nationals in Canada. The consulate services which have been extended include passport issuance, attestation, police clearance certificate and passport renewal. In a post shared on X, formerly known as Twitter, the Consulate General of India in Toronto stated, «Consular services for Indian nationals in Canada, e.g. Passport issuance, Passport renewal, Police Clearance Certificate, Attestation etc.

Nikki Haley has claimed Beijing is «preparing for war». China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday. Her speech comes two days after her India-American Republican rival Vivek Ramaswamy delivered a foreign policy speech on China in Ohio. Both Haley and Ramaswamy have emerged as popular GOP candidates after former US president Donald Trump. «Strength and pride are essential to our national survival, especially in the face of Communist China.

Nifty extended losses for the fourth straight session on Friday, September 22. The domestic institutional investors (DIIs) turned net buyers and invested ₹80 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹10,840.20 crore of Indian equities, while they sold ₹12,166.94 crore --- resulting in an outflow of ₹12,166.94 crore on Friday.

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V Anantha Nageswaran on Friday. Global financial firm JP Morgan has said that it plans to include Indian government bonds or government securities (G-Secs) into its benchmark emerging market index from June, 2024, a move that will bring down borrowing costs for the government. Nageswaran said that there is no need to assume there would be increased volatility in the currency market due to the index inclusion.

ALSO READ: Economic outlook bright but high oil prices a concern: FinMin The report said that as strengthening consumption led to a rise in demand for goods and services, both the manufacturing and the services sectors saw their output and value-added grow robustly in Q1 of FY24. It added that the strength of domestic investment is the result of the government’s continued emphasis on capital expenditure and the measures implemented by the Union government have also incentivised States to increase their capex spending.

The gusts of evolution are currently blowing stronger than ever before in the building industry in India. In a huge and diversified country like ours, the construction sector has consistently been a vital contributor to economic progress. However, this industry has had its fair share of difficulties, ranging from prolonged project time-frames to rising prices and environmental issues.

India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

rupee is expected to gain from the addition of government bonds in the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) index riding on dollar inflows, experts told ETMarkets. India will enter the global bond index with a 10% weight cap and other smaller JPM EM indices in a staggered manner over a 10-month period beginning June 28, 2024. According to market experts, this could prompt around $30 billion of passive inflows. Harsimran Sahni, Executive Vice-president & Head-Treasury at Anand Rathi Global Finance, sees a near- and long-term impact of the move.

Condemning a video by a pro-Khalistan organisation threatening Hindus of Indian origin asking them to leave Canada, the Canada’s public safety minister Dominic LeBlanc said all Canadians deserve to feel safe in their communities. This comes amid the escalating tensions between India and Canada over Hardeep Singh Nijjar murder.

Organising Committee of the Hangzhou Asian Games and the Olympic Council of Asia (OCA) have taken up the matter with the Chinese government over the denial of entry into the country for three Indian wushu players from Arunachal Pradesh, who have qualified for the Asiad. The three female Wushu players — Nyeman Wangsu, Onilu Tega and Mepung Lamgu — were scheduled to fly out to China on Wednesday night from IGI Airport in Delhi. But have not been able to reach China till Friday, a day before the Opening Ceremony and two days before the start of the Wushu competitions. There are conflicting reports here in Hangzhou with some officials claiming that two of the three Wushu players have received e-accreditation (which for the Asian Games also serves as a visa) but could not download and validate it, while the third player did not get the accreditation.

Justin Trudeau went public with allegations implicating India in Khalistan leader Hardeep Singh Nijjar's killing as he learned the story was going to come out in the media. Minister of Emergency Preparedness Harjit Singh Sajjan, who was previously the defence minister, told CBC Radio that Trudeau wanted to ensure Canadians had «accurate information' about the story before it made headlines». Speaking on evidence related to the allegations, the Liberal MP for Vancouver South said that it would be «very inappropriate» for him to discuss anything about that as a police investigation is underway. «When it comes to the evidence, it's the police that hold the evidence.

Anant Singhal, Team Lead, CAPA India, says “in the first quarter of the fiscal, the airlines witnessed very strong yields. In the current fiscal ending this month, there was a dip of about 15% to 17%. Coming to the next quarter, it again will be robust because demand will increase and we expect some upward swing in fares and in the yields that airlines earn.”There have been a lot of issues related to the aviation industry of late, flight cancellations, pilot resignations. What is indicative of the Indian aviation sector? Will we tide over it soon enough?Before I answer your question, I would like to provide some context. Right now, we have about 135 aircraft of Indian carriers that are grounded. Now, with that in mind, the pilot shortage that we would have expected is somewhat better, because 135 aircraft are on ground. As and when these aircraft start flying again and new inductions come in, the challenge of pilot shortage will likely go up and a lot of airlines are expected to face challenges with this area. Right now, it seems to be somewhat manageable, although lately because of the 40 resignations, about 80% of the schedule had to be cancelled. But overall, from the industry perspective, the issue of shortage of pilots is somewhat manageable, but when these aircraft start flying again it will start creating challenges for the industry.

Canadian universities have raised concerns about potential visa delays for Indian students amid ongoing political tensions between the two nations. These delays could disrupt the upcoming spring academic session, scheduled to commence in January. In light of the uncertainty surrounding visa processing times, these representatives, currently attending an education fair in Hyderabad, have advised Indian students interested in pursuing higher education in Canada to consider planning their academic session for the fall/autumn term, starting in August 2024. Expressing their apprehension, one representative told TOI, «With just three months left for students to travel for the spring batch, there is apprehension that visa processing times may pose challenges.» Many universities are contemplating waiting for an additional week to assess the situation before making decisions regarding admission letters for either the spring or fall of 2024. They are actively counseling students not to rush their plans to travel to Canada, emphasizing potential delays in securing study permits. An Ontario university representative highlighted their intention to wait another week before finalizing admission plans. Depending on the evolving situation, they will determine whether to issue admission letters for January, May, or fall 2024. Their goal is to ensure that students do not need to defer admissions due to visa-related issues.

emerging market debt index which may cause billions of dollars of inflows into India. As per reports, quoting JPMorgan, India's local bonds will be included in the Government Bond Index-emerging markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds. The inclusion of Indian bonds will start on June 28, 2024, and extend over 10 months with one per cent increments on its index weighting, as India is expected to reach the maximum weighting of 10 per cent, according to JPMorgan.