International Financial News

India may allow certain foreign investors to raise capital in rupees for investments in select countries, a government official said, in a move aimed at boosting the international use of the South Asian nation's currency. The plan comes after Indian Finance Minister Nirmala Sitharaman said in July the nation will simplify its foreign direct investment and overseas investment rules to promote opportunities for use of the Indian rupees as a currency for overseas investments. The new provision could enable investments in rupees in select nations of «strategic interest» to India, said the official with direct knowledge of the plans.

Nest Seekers International chief economist Erin Sykes weighs in as high interest rates continue to hurt the housing market on The Bottom Line.

markets regulator SEBI to raise Rs 4,000 crore ($480 mn) through an initial public offering (IPO). The offer comprises fresh issue of shares worth Rs 1,250 crore and offer-for-sale shares worth Rs 2,750 crore.

tax disputes with major companies including Infosys Ltd. and foreign airlines, people familiar with the matter said, suggesting New Delhi is open to making accommodations to avoid hurting investor sentiment in the South Asian nation. Authorities are exploring options to settle with companies including Infosys, which last month got hit by a demand for 324.03 billion rupees ($3.9 billion) in back taxes dating back to 2017, the people said. Authorities at the time cited non-payment of taxes on expenses incurred by overseas offices of the company, which provides IT services to banks and other multinational corporations from the US to Europe. Also Read: Infosys accused of Rs 32,000-crore GST evasion: Here are 10 things to know

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Banijay Asia, part of content powerhouse Banijay Entertainment, has inked a deal with Sony Pictures Television, the global television production and distribution company, acquiring format rights to produce Indian remakes of five of its popular international scripted series. The five shows include Drop Dead Diva, La Prepago, Men At Work, Mob Doctor, and Rosario Tijeras. Drop Dead Diva is a blend of comedy and drama that follows the story of a fashion model who dies in a sudden car accident and reincarnates into the body of a brilliant, plus-sized lawyer.

18% of their stake since September 2022 and now own less than 20% of InterGlobe Aviation. While investors generally don’t react positively to promoters selling shares, this particular exit seems to have been conducted in a transparent and orderly manner. Investors did eventually absorb Gangwal’s gradual exit in 2023.

Reserve Bank of India allowed foreign currency cards on RuPay. In FY24, there were 968 million transactions via RuPay cards, lower than 1.26 billion in FY23. The quantum of transactions remained unchanged at ₹2.4 trillion across both years.

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),...

₹200 crore. The Indian cosmetics brand, created under the watch of the late J.R.D. Tata in 1952, had taken wing in 1952 when Simone Tata, Noel Tata's mother, joined the board.

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

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),...

Cristiano Ronaldo's Al Nassr FC will play Al-Raed in the Saudi Pro League opening match of the season on Thursday. The new season of the 18-team league is starting on August 22 and will culminate in May, 2025. Portuguese soccer star Ronaldo's Al Nassr FC vs Al-Raed soccer match is scheduled to kick off at 2 pm (ET). The football game between Al Nassr FC vs Al-Raed will be live telecast on Fubo which offers free trial. Cristiano Ronaldo is lining up for another Saudi Pro League season with the main aim of helping Al-Nassr end the dominance of Riyadh rival Al-Hilal. Ronaldo signed for Al-Nassr in December 2022 and has yet to win a domestic trophy with the club. In a social media post this week, he wrote: New season, same goal.

National Company Law Tribunal (NCLT) approving its takeover of SKS Power Generation Ltd, winning bidder Sarda Energy and Minerals has deposited ₹1,950 crore into an escrow account with Bank of Baroda (BoB) — ahead of the 45-day deadline set by lenders. In a stock exchange filing Tuesday, Sarda Energy confirmed the payment, including ₹1,805 crore paid to financial creditors of SKS Power, State Bank of India and BoB, as well as additional expenses for the insolvency process. It also includes excess cash in the company to be given to lenders. The NCLT on August 13 approved the transaction, with BoB Capital as the process advisor. «The transfer was made on earlier this week well ahead of the 45-day timeline provided for in the resolution plan. Sarda has raised a majority of the funds from banks with about 30% from internal accruals,» said a person familiar with the deal.

Lionel Messi's injury has raised concerns among soccer fans as Inter Miami footballer has been out of action since Argentina's Copa America 2024 triumph on the US soil in mid-July. Now injured Argentina captain Lionel Messi has been left out of the squad announced by the Argentine FA for September's South American World Cup qualifiers against Chile and Colombia. The 37-year-old Messi was not included in the 28-man squad following an ankle injury sustained during last month's Copa America final in the United States. The Inter Miami player is currently recovering from a right ankle injury at his club. Neither Messi nor the Inter Miami club management has divulged details about his return for the competitive game.

Italy on Monday morning, including British tech entrepreneur Mike Lynch and chairman of Morgan Stanley International Jonathan Bloomer, are presumed to be dead. Italian coast guard officials said on Tuesday that Lynch and Bloomer were among the six people still not found. The other individuals include Hannah, Bloomer's 18-year-old daughter, Clifford Chance attorney Chris Morvillo and his wife Judy, and Bloomer's wife Neda. On Monday, a storm formed around the 184-foot British-flagged yacht The Bayesian, which was moored approximately half a mile offshore. According to civil protection officials, they think the ship was hit by a waterspout, a tornado, that crossed the water and swiftly sank the yacht. On the Giornale di Sicilia website, grainy footage from shore-based closed-circuit cameras depicted the Bayesian's lit 246-foot mast enduring the storm before it vanished within a minute.

The Bank of Canada’s view that the worst is behind us was challenged recently by warning signs from two key sectors of the economy, say economists.

The study reveals that passive funds AUM has grown to Rs 10.2 lakh crore with 17% of total market share. The AUM of active funds stands at Rs 50.9 lakh crore as of June 2024. The equities take away the majority of the share with 59.75% of total AUM, followed by 26.95% in debt, 8.85% in hybrid and 4.44% in others.

Approvals for new coal-fired power plants have dropped sharply in China after a flurry of permits in the previous two years raised concern about the government’s commitment to limiting climate change

The check-in area of London City Airport, about a 30-minute Tube ride from Canary Wharf, looks much like any midsized hub in North America. There are queues of passengers waiting to check bags, busy shops and restaurants, and a duty-free shop.

BP’s chief economist Spencer Dale has said. “Most of the consensus for next year is that oil demand will continue to grow. But many also point to strong growth in non-OPEC supply, with many of those scenarios suggesting the growth in non-OPEC supply will largely meet the growth in overall demand,” said Dale. “And that means the scope for OPEC to bring back production is likely to be relatively limited.” OPEC+, a grouping of nearly two dozen countries led by Saudi Arabia and Russia, has kept its production artificially low, keeping a record 5.8 million barrels per day of supply off the market. It plans to return these supplies to the market, starting October.