International Financial News

Pernod Ricard concluded that top executives at its India business violated the law by colluding with alcohol retailers in New Delhi, according to a document seen by Reuters, even as the French giant's representatives denied wrongdoing in court and publicly. PRI told Reuters in January and February 2023 that it «strongly» denies the Enforcement Directorate allegations, calling them «factually incorrect.» As recently as Sept. 4, lawyers for Benoy Babu, a PRI executive named in Shardul Amarchand Mangaldas's report, asked the Delhi High Court to quash the case against him. They said allegations against Babu, who was briefly jailed pending trial last year, were «false and baseless», and authorities were relying on «hearsay evidence». The court has yet to rule on Babu's non-public filing, which was seen by Reuters. He didn't respond to questions from the news agency.

company aims to raise Rs 114 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Subscribe to enjoy similar stories. When Mahindra showcased two of its upcoming electric sport utility vehicles (SUVs) last week, it wouldn’t have expected a challenge from a high-altitude carrier of passengers.

Agricultural powerhouse Cargill, one of the world’s biggest privately held firms with thousands of Canadian employees, is slashing its global workforce as part of a major restructuring effort.

startups by the government till October this year, Parliament was informed on Tuesday. The Government, with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging private investments in the startup ecosystem of the country launched the Startup India initiative in January 2016.

Indian exports, commerce and industry minister Piyush Goyal said in Lok Sabha. This has resulted in increased time for goods to reach international markets. “No shortage of containers has been, however, reported on account of the longer voyage time or the Red Sea conflicts issues and Russia-Ukraine War,” he said. He also said limited demand for containers manufactured in India and accordingly the limited manufacturing capacity for containers in the country.

‘Barron’s Roundtable’ panelists Ben Levisohn, Teresa Rivas and Jacob Sonenshine share their top stock picks.

Phillips Machine Tools (PMT) will launch a dedicated 3D materials division to address India’s lack of locally available high-tech consumables and raw materials, including titanium. The company has plans to secure an import license in the next six months and cater to the defence, aerospace, renewable, electronics, and, in certain aspects, the health tech market and clean energy sectors, the company’s Managing Director, Terrence Miranda, told ET. PMT is a fully owned subsidiary of the USA-based Phillips Corporation. “To obtain this license, you need to demonstrate capabilities, such as owning the necessary equipment and conducting R&D on it. India does not yet produce aerospace-grade titanium in the quantities or quality needed. For sectors like space and defence, this poses a significant challenge,” he said, adding that the company will incorporate it into its new 20,000 sq. ft facility in Chakan, Pune. PMT is working to source titanium from international markets, including the US and Germany, while also exploring regional exports to make it easier to procure.

Subscribe to enjoy similar stories. China will strengthen controls on U.S.-bound exports of some materials that are used in chip making and can have military applications, a move that comes amid rising trade tensions between the two countries. The Chinese Ministry of Commerce said Tuesday that it will ban exports of so-called dual-use materials to the U.S.

bail petition of Hindu monk Chinmoy Krishna Das, arrested on a sedition charge, as no lawyer appeared on his behalf. Swatantra Gauranga Das, an associate of the monk at his Sammilita Sanatani Jagaran Jote, claimed that no lawyer represented the Hindu leader due to threats from a «politically motivated lawyers' group». The bail hearing at the Chattogram court has now been postponed to January 2. Das' arrest on November 25 had triggered demonstrations by supporters of the monk, who was previously with the International Society for Krishna Consciousness (ISKCON). In Chattogram, an assistant government prosecutor, Saiful Islam Alif, was killed in a protest after the monk was denied bail.

Tata Consultancy Services (TCS), India’s largest software service provider, expanded partnership with Bank of Bhutan, the largest commercial bank of Bhutan, to modernise the bank’s digital core for enhanced customer service, the company informed the stock exchanges. The financial and other details of the deal were not disclosed. TCS said in a statement that it will implement its banking software platform TCS BaNCS to help the bank optimise operations and integrate with the various public services within the digital ecosystem of the country.

Dharavi Redevelopment Project (DRP) has embraced cutting-edge technologies to survey and document Asia's largest slum, officials said. Drones and remote sensing technology Light Detection and Ranging (LiDAR) are being used to map the 620 acres densely populated Dharavi slums. This is to ensure accuracy, transparency, and efficiency in a redevelopment project of this scale and complexity. The Dharavi Redevelopment Project Pvt Ltd, in which the Adani Group holds an 80 per cent stake along with the state government, plans to turn 620 acres of prime land, about three-quarters of the size of New York's Central Park, into a glitzy urban hub. About 7 lakh living in rickety shanties with open sewers and shared toilets in the densely populated slums, close to Mumbai's international airport, are to be given flats up to 350 square feet free of cost.

According to an RBI notification as of December 2, 2024, “The reasons were attributed to either inactivity for a long time or pending/periodic updation of KYC in such accounts. Reportedly, there were instances of customers facing inconvenience when they approached the bank branches for activation of inoperative accounts, including inadvertent errors in customer details such as mismatch in name, etc. It was also observed that a few banks have a large pendency of accounts that are due for update/periodic updation of KYC, resulting in such accounts getting frozen for further transactions as per the bank's internal policies.” The RBI has advised banks to take necessary steps urgently to reduce the number of inoperative/frozen accounts and make the process of activation of such accounts smoother and hassle-free, including by enabling seamless updation of KYC through mobile/internet banking, non-home branches, video customer identification process, etc.

Sri Lankan port’s expansion led by the Adani Group is progressing as scheduled, a top local official said, even as the fate of $553 million in American funding for the project remains uncertain following the indictment of the Indian conglomerate’s executives in the US. Construction at the Colombo West International Terminal remains ongoing, with phase one of the project still set for completion in early 2025, said Sirimevan Ranasinghe, chairman of the Sri Lanka Ports Authority, a minority shareholder in the project. “We are continuing as per our agreement,” Ranasinghe told Bloomberg News. He said the US financing had not been finalized and declined to comment further on its status, adding that it was up to the joint-venture company developing the project to secure financing.

Alaska Airlines says an unspecified technology issue caused the temporary grounding of flights in Seattle and continuing problems with booking flights online

Best phones under ₹20,000 in December 2024: With new phones launching every month, it can be hard to keep a track of all the devices available in a price range. In order to help you select the right phone, we have compiled the list of top mobiles one can choose under a budget of ₹20,000.iQOO Z9 is powered by the MediaTek Dimensity 7200 octa-core processor. It features a 6.67-inch AMOLED display with a 120Hz refresh rate, offering vibrant colors and fluid visuals.

Future of Sports in India,' also suggested that the government could provide incentives to the private sector to fund large-scale, holistic sports programmes to support talent development as part of their Corporate Social Responsibility (CSR) activities. CSR contributions could be leveraged to establish and run high-performance training centres with facilities, including international coaches, nutritionists, and mental and physical trainers. It said that the government may formulate policies to establish and support comprehensive skill development programmes for sports coaching, sports management, and sports-related ancillary industries to boost employment generation through sports, especially in tier-2 and rural areas.

Trump has threatened retaliation against governments that challenge the US dollar, vowing «100 percent tariffs» on countries that undercut the US currency. The Republican vowed the action on states that «create a new BRICS Currency» or otherwise «replace the mighty US dollar,» according to a post on Truth Social on Monday. BRICS refers to a grouping that includes Brazil, Russia, India, China and South Africa, and has expanded in recent years to include Iran, Egypt, Ethiopia and the United Arab Emirates.

Solar Industries India jumped as much as 9.5% on Tuesday to Rs 11,549 on BSE after the company, along with its subsidiary, secured export orders worth Rs 2,039 crore for supplying advanced defence products to international clients. The deliveries will be executed over the next four years, the company announced in an exchange filing. «We are pleased to share that our company, Solar Industries India Limited and its subsidiary have received export orders worth Rs 2039 Crores for Supply of Defence Products, to be delivered over a period of 4 years,» Solar Industries India said in an exchange filing.

Accel and some accounts managed by Orbis Investments. Nebius, which emerged in July following a $5.4 billion deal to split the domestic and international assets of Russian internet giant Yandex, is joining a drive to build the infrastructure underpinning artificial intelligence. Nebius was founded by Arkady Volozh, former founder and CEO of Yandex. Trading in Nasdaq-listed Yandex was suspended soon after Russia's invasion of Ukraine, with Nebius eventually reviving the listing as part of the asset split.

badminton player PV Sindhu. As per reports, she is gearing up to tie the knot on December 22 in Udaipur. The former world champion, who sought victory at the Syed Modi International in Lucknow on Sunday, is preparing to tie the knot with Hyderabad-based Venkata Datta Sai, an Executive Director at Posidex Technologies. In an interview with PTI, the shuttler’s father, PV Ramana shared that the two families knew each other but it was only a month ago that everything was finalised. He further added that this was the only possible window as her schedule would become hectic from January. Hence, the two families decided to have the marriage ceremony on December 22. The reception will be held in Hyderabad on December 24. As per reports, the wedding-related festivities will kickstart on December 20.