International Financial News

Karma Energy Ltd.(up 5.00%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), GE T&D India Ltd.(up 4.75%), Energy Development Company Ltd.(up 4.29%), Kalpataru Projects International Ltd.(up 3.70%), Jyoti Structures Ltd.(up 3.68%), Indowind Energy Ltd.(up 2.64%), Power and Instrumentation(Gujarat)Ltd.(up 2.01%) and Inox Wind Energy Ltd.(up 1.74%) stood among the top gainers.

IMF's approval. Finance Minister Muhammad Aurangzeb and his team had a virtual meeting with Dr Adnan Chilwan, Group CEO of Dubai Islamic Bank, on Thursday, the Dawn newspaper reported on Friday. On Wednesday, a similar interaction was held with Mashreq Bank President and Group CEO Ahmed Abdelaal. Both meetings had been arranged to «discuss the economic outlook and explore investment opportunities in Pakistan». For the current fiscal year, Pakistan has pitched about USD 20 billion in foreign borrowing in the budget, besides another USD 3 billion rollover from the UAE that was reported separately for the balance of payments. With this much borrowing, Pakistan's reserves are estimated to grow to about USD 19-20 billion by the end of the current fiscal year.

Shares of Bajaj Auto Ltd.(up 4.97 per cent), TVS Motor Company Ltd.(up 2.25 per cent), Samvardhana Motherson International Ltd.(up 1.98 per cent), Tata Motors Ltd.(up 1.9 per cent) and Tata Motors Ltd.(up 1.57 per cent) ended the day as top gainers in the pack.

Jay Shah, the current secretary of the Board of Control for Cricket in India (BCCI), has emerged as the leading candidate to succeed Greg Barclay as the International Cricket Council (ICC) chair. The BCCI is confident that Shah will be elected unopposed, given the widespread support he has received from various cricket boards, which have expressed their desire for him to lead the global cricket body, a top source from the board has confirmed. To secure his nomination, the ICC requires a proposer and a seconder. Reports indicate that England and Australia are likely to back Shah's candidacy, further solidifying his bid for the top position.

SpaceX's attempt at the first ever private spacewalk next week will be a test of trailblazing equipment, including slim spacesuits and a cabin with no airlock, in one of the riskiest missions yet for Elon Musk's space company. A billionaire entrepreneur, a retired military fighter pilot and two SpaceX employees are poised to launch on Tuesday aboard a modified Crew Dragon craft, before embarking on a 20-minute spacewalk 434 miles (700 km) into space two days later. Until now, walking into the empty expanse of space has only been attempted by government astronauts on the International Space Station (ISS), 250 miles (400 km) above Earth.

₹71,400 per 10 grams level, while Silver prices rose above ₹84,030 per kg level. International bullion prices that hit an all-time high of $2,531.60 on Tuesday, have fallen nearly 1% this week amid a rebound in the dollar index and rise in US 10-year Treasury yields.

silver September futures contracts were trading at Rs 83,979/kg, up by 0.29% or Rs 243. Prices of gold have dipped by Rs 400/10 gm in the last 3 days while silver has fallen by Rs 750 per kilogram.

The Walt Disney Co. has tapped James Gorman to lead its succession planning committee as the entertainment company continues to work toward finding someone to take over the helm from Bob Iger

NASA said on Thursday it expects to announce on Saturday its decision on whether the two astronauts who rode Boeing's glitchy Starliner spacecraft to the International Space Station will need a SpaceX vehicle to return to Earth. «NASA's decision on whether to return Starliner to Earth with astronauts aboard is expected no earlier than Saturday, Aug. 24 at the conclusion of an agency-level review,» the space agency said in a statement. Starliner launched its first two astronauts into space in June as a crucial test before it can receive NASA approval for routine flights. But what was supposed to be an eight-day mission docked to the ISS has been drawn out by months after the capsule sprang leaks and some of its thrusters failed.

NASA will decide this weekend whether Boeing's new capsule is safe enough to return two astronauts from the International Space Station, where they've been waiting since June

₹39 crore in funding from Dubai-based real estate company, Brickwork Development. This investment values the retired cricketer league at ₹350 crore and will support it as it prepares for its next season from 11 September, according to the company. The upcoming season will be held in India and Qatar and will feature six teams composed of recently retired international cricketers.

₹30,000 crore." The value of the family’s holdings in group listed companies is more than ₹10 trillion (about $126 billion), the person said. The immediate plan is to sell stake worth ₹3,000-4000 crore in Ambuja Cements Ltd, in which the promoters hold 70.3%. Rajiv Jain-led US-based boutique investment firm GQG Partners LLC and at least four other entities, including three large bank-promoted firms, are likely to buy the stake soon in a private placement, the person added.

Republican lawmakers say Kentucky has met the financial conditions to set in motion another cut in the personal income tax rate that could take effect in 2026

Adani Group's promoters are looking to sell shares worth ₹30,000 crore ($3.6 billion) over the next nine months as they look to rebalance their portfolio in listed companies that's currently worth about $126 billion. The promoters will pare stakes in some listed firms while increasing them in others, according to people with knowledge of the matter. The final aim of this rebalancing exercise is to hold 64-68% stake across firms. The stake sale will begin with Ambuja Cement and Adani Power while the holding will be increased in Adani Green Energy.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Say Nothing. The nine-episode series will be available on Hulu in the U.S. and Disney+ in select international markets.

American Airlines flight despite bleeding from his head. The incident occurred when he and his companion, Yusleydis Blanca Loyola, 32, boarded a flight at Miami International Airport. The flight crew noticed Hernandez-Garnier had a bloody bandage on his head, indicating a wound, as per the reports of Daily Express US. The Miami-Dade police advised Hernandez-Garnier to clean the blood and replace his wound's dressing. However, he informed them he did not have any fresh dressings. The flight crew, concerned about health risks and potential contamination from bodily fluids, asked the couple to leave the plane. Despite the request, Hernandez-Garnier and Loyola refused to comply, reportedly stating that if they couldn't fly, no one else should either.

The sinking of a luxury yacht owned by British tech entrepreneur Mike Lynch off the coast of Sicily earlier this week has unfolded into a greater tragedy.

Kellogg Co, is struggling with low sales growth and profit in India, a market that prefers traditional or savoury breakfast compared to its ready-to-eat cornflakes and muesli alternatives. For FY24, the American food company reported one of its slowest sales growth in a decade at 4% to ₹1,610 crore, with a net profit decline of 19% to ₹97 crore, as per its filing with the Registrar of Companies. A year ago, it had sales of ₹1,554 crore with net profit of ₹119 crore. Last week, chocolate maker Mars agreed to buy Kellanova for nearly $36 billion. «Cornflakes is on a decline as a category and for Kellogg, the segment accounts for the bulk of the sales. While the company has been driving sales of other products such as oats and muesli, competition is intense in these segments,» said an industry executive, who did not wish to be named. In India, Kellogg started its first manufacturing plant in 1994. Its second unit opened in 2016, followed by a research and development centre to develop breakfast products for India and other emerging markets in the Asia-Pacific. Four years ago, the company that globally relies on western style breakfast options, launched Indian options including upma in select markets to widen its consumer base, a strategy which has not worked yet.

electric vehicle manufacturing. The remaining 24 applications are in process. The approvals on Wednesday are likely to help the companies partially offset losses they are incurring in manufacturing EVs due to low volumes currently. Among the companies, Bajaj Auto is the sole automaker to get approvals for all the 13 applications filed for its electric scooter Chetak and three-wheelers. Mahindra & Mahindra got approvals for 16 out of 23 applications, Tata Motors 15 out of 27, Ola Electric four out of five, TVS Motor two out of five, and Eicher which applied for one didn't get an approval, according to an internal document showing the DVA (domestic value addition) application status.

humanoid robot was unveiled by Tesla at Robot Tesla Humanoid. Elon Musk wants to move his humanoid robot initiative forward by hiring someone to pose as a robot. The data collection operator position, paying close to $100,000, will improve the body of knowledge for Tesla's Optimus program. Musk said earlier this year that the company intends to use the humanoid robots internally as early as the following year, according to The Mirror UK. Tesla unveiled Optimus Gen 2 a few months ago, and the company anticipates that these new humanoid robots will be able to replace humans in repetitive tasks. The selected candidate must be able to move about thirty pounds of equipment while on the go for seven hours every day. They will also put on a VR headset and a motion capture suit, which might cause VR sickness symptoms.