International Financial News

Xi Jinping on Tuesday left for Russia to attend the BRICS summit where he is expected to meet leaders of the member countries, including Prime Minister Narendra Modi on the sidelines. Xi will articulate China's vision for «greater cooperation» of the BRICS bloc, which has now expanded to 10 members, and «open a new era for the Global South to seek strength through solidarity» at the three day summit. The summit of Brazil, Russia, India, China and South Africa (BRICS), which now has expanded with five additional members Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, is being held in the Russian city of Kazan, about 900 km east of Moscow, from October 22 to 24. Xi left Beijing for the 16th BRICS Summit in Kazan at the invitation of Russian President Vladimir Putin, state-run Xinhua news agency reported.

rupee stayed flat at 84.07 against the US dollar in early trade on Tuesday as positive sentiment in domestic equity markets was negated by the unabated outflow of foreign funds. The local unit resisted the fall on the back of the retreating dollar and a downward movement in the crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals.

This may be the case with central bank digital currency (CBDC). Announced in Nirmala Sitharaman's 2022 budget speech to bolster the unfounded belief that private virtual currencies (PVCs) like bitcoin, upon which an unpopular tax was levied, posed a threat that only a CBDC could counter, RBI was forced to railroad this project into the list of commercial bank priorities, and public consciousness. Had it been possible to rectify the misconception of its eminence grise, e₹ might never have been. After all, the capital gains tax on the sale of PVCs showed that GoI treated them as speculative assets rather than as competitive currencies. In any case, bitcoin did not threaten rupee transactions.

NCLT) has dismissed an application filed by Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVPL), which sought to restrain IndusInd International Holdings (IIHL), the successful bidder for Reliance Capital, from using the ‘Reliance’ brand following the implementation of its resolution plan. On Friday, a division bench comprising Justice V.G. Bisht and technical member Prabhat Kumar orally dismissed the application filed by ADAVPL, according to two individuals familiar with the matter. A detailed order had not been uploaded at the time of this report. A spokesperson for the ADA Reliance Group could not be reached for comment.

Nirmala Sitharaman on Monday pitched the India story to a large group of pension funds and institutional investors in the US and impressed on them to take advantage of India's enormous investment opportunities. Sitharaman addressed a roundtable on “Investment Opportunities in India” at the New York Stock Exchange (NYSE), the world’s oldest and largest bourse with around 11 Indian companies listed on it, according to a finance ministry post on X (formerly Twitter). “The roundtable is being attended by various pension funds and other institutional investors and fund managers across USA, forming one of the largest financial systems in the world in terms of total assets under management,” the ministry said in the post.

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The Walt Disney Co. is tapping Morgan Stanley executive James Gorman to serve as its next chairman, beginning early next year

MS Dhoni has not yet confirmed his availability for the Indian Premier League (IPL) 2025. After CSK's unexpected exit from the group stage in IPL 2024, Dhoni has not spoken about whether he will participate in the next season. With the mega auction for IPL 2025 approaching, Viswanathan hopes Dhoni will provide clarity before the October 31 deadline for franchises to submit their retained player lists. «We have still no confirmation from him, though we will like him to continue playing for us. Hope he will confirm before 31st [October],» Viswanathan told ESPNcricinfo. CSK has the option to retain Dhoni as an uncapped player due to recent rule changes. The IPL has reinstated a rule allowing players to be considered uncapped even if they retired from international cricket five years ago. If Dhoni confirms his availability, he is likely to be retained by CSK as an uncapped player, which would cost the franchise Rs 4 crore from its Rs 120 crore budget.

Pilkington was previously a managing director at AlTi Tiedemann Global, a role she held for a year and a half up until she departed in June this year. Prior to this, she was at Alvarium Investments for three years, where she helped build out the firm's co-invest platform. Brown Advisory turns to Fidelity International for UK intermediary sales director She also worked at ACPI Investments as a fund analyst and deputy fund manager on its Multi Manager balanced product and was an investment and equity fund research analyst at Rathbones. Quintin Ings-Chambers, partner and head of in...

Afcons Infrastructure will open for subscription on October 25 and bidding for the issue can be done till October 29. Through the IPO, the Shapoorji Pallonji Group's infrastructure engineering and construction company plans to raise around Rs 5430 crore. The company has fixed a price band of Rs 440-463 per share, where investors can bid for 32 shares in one lot.

In the coming days, Russian President Vladimir Putin will be shaking hands with multiple world leaders, including those from China, India, Turkey and Iran

KKV Agro Powers Ltd.(up 8.68%), Ravindra Energy Ltd.(up 5.00%), Tata Power Company Ltd.(up 1.86%), JSW Energy Ltd.(up 0.84%), Voltamp Transformers Ltd.(up 0.47%), Jyoti Structures Ltd.(up 0.36%), RattanIndia Power Ltd.(up 0.14%), Adani Green Energy Ltd.(up 0.11%), Inox Wind Energy Ltd.(up 0.01%) and KEC International Ltd.(up 0.01%) were among the top gainers.

Nirmala Sitharaman, arrived in the United States and received a warm welcome at Newark Liberty International Airport on Sunday (local time). India's Ambassador to the United States, Vinay Mohan Kwatra, and Consul General of India in New York, Binaya Srikanta Pradhan, welcomed Sitharaman, following her arrival from Mexico City. «Union Minister of Finance and Corporate Affairs Smt. @nsitharaman is welcomed at the Newark Liberty International Airport by India's Ambassador to USA, Shri @AmbVMKwatra along with Consul General of India in New York, Shri @binaysrikant76, after her arrival from Mexico City, today,» the Ministry of Finance stated in a post on X.

Indonesian President Prabowo Subianto has announced his Cabinet hours after he was inaugurated

UK universities are ranked among the top 100 in the QS World University Rankings 2024. It is important to know the entrance exams you need to pass to study in the UK, as they are necessary for admission to undergraduate and postgraduate certificates, diplomas, and degree programs. The minimum score requirements for the exams change depending on the university, course, or program level.

Subscribe to enjoy similar stories. Nine developers won the final bids for the Yamuna Expressway Industrial Development Authority (Yeida)’s residential group housing plots in sector 22D and 18, Greater Noida in the Delhi-NCR region. The Yeida auctioned nearly 287,000 square meters as 19 prime plots in sectors 17, 18, 19 and 22D, out of which nine deals were closed.

For undergraduate students: All applications for Bachelor’s degrees in the UK are submitted using the UCAS application website (Universities and Colleges Admissions Service). The majority of universities will only accept your application through the UCAS system.

Subscribe to enjoy similar stories. New Delhi: With an eye on China, India is intensifying efforts to expand the number of Geographical Indication (GI) products to scale up exports and secure premium pricing in global markets, two people aware of the development said. GI products play a critical role in export promotion by highlighting the unique qualities tied to specific regions, cultures, and production methods.

Subscribe to enjoy similar stories. New Delhi: Faced with a low recovery rate of penalties imposed for anti-competitive conduct, the Competition Commission of India (CCI) has started exploring ways of making recovery more effective. The regulator has set up a three-member internal committee to recommend measures to make the recovery process more robust, two persons informed about the development said.

Subscribe to enjoy similar stories. Being a chef is a twenty-four seven job. It entails long hours, working Diwalis and no weekend breaks.