International Financial News

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

Professor Mohammad Yunus, a well-known critic of Sheikh Hasina and persecuted by her regime, when the Nobel laureate became the head of the caretaker government after she resigned and fled to India. The 84-year-old economist, globally recognised as 'The Father of Microfinance,' who flew down from Paris earlier in the day, was declared as the head of the interim government by President Mohammed Shahabuddin after dissolving Parliament Tuesday, a decision prompted by a demand by the Anti-Discrimination Student Movement. Yunus had announced plans to form a political party in 2007 when the country was run by a military-backed government and criticised Bangladeshi politicians alleging they were only interested in money. He, however, did not follow through on that plan. By a quirk of fate, on Thursday he took oath to lead a non-partisan, non-military caretaker government.

Fortis Healthcare is set to acquire the stake of private equity firms in its own diagnostics arm Agilus Diagnostics (formerly SRL), according to sources in the know. Jacob Ballas and International Finance Corporation (IFC), who along with Resurgence PE own around 34% stake in the diagnostics company, are selling their stake and exercising a put option. The deal will peg the valuation of Agilus at around ₹5,000 crore, the people cited earlier said.

Yulu Bikes is looking to raise upwards of $100 million in a Series C round to expand operations over the next couple of years. Yulu, which has a strategic partnership to develop electric vehicles with Bajaj Auto, is looking at more than doubling the fleet of electric two-wheelers it deploys for passenger as well as cargo movement to 80,000 by the end of this fiscal year. The money will also be used to launch new products, extend reach and develop technology, Amit Gupta, cofounder and CEO of Bengaluru-headquartered Yulu Bikes, told ET. Yulu has raised over $123 million in equity capital — which includes $52 million for Yuma (a joint venture between Yulu Bikes and Magna International) — from investors including Bajaj Auto, Magna International, Blume Ventures, 3one4 capital, Wavemaker, Incubate Fund, Rocketship.vc, and other institutional and angel investors. Yulu has also secured $12 million in debt financing from the US International Development Finance Corporation and Northern Arc. Bajaj Auto had an 18.8% stake in Yulu Bikes as of February 2024.

Anand Mahindra has hinted at the upcoming launch of much anticipated BSA Goldstar 650. His post, accompanied by the date "AUGUST 15TH @bsamotorcyclein," has sparked excitement among motorcycle enthusiasts.Adding to the anticipation, BSA Motorcycles India recently shared a cryptic image on its X account, featuring the Goldstar 650 in silhouette and the caption "Riding on 15th August." This suggests that the much-anticipated bike is set for its Indian debut on the same day.According to a report by Bikewale, Classic Legends is poised to introduce BSA's revered nameplate to the Indian market. The Goldstar 650 will mark the first product under the BSA brand in India, following its international release.

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...

IIT Delhi's Abu Dhabi campus will offer two undergraduate courses from the new academic session commencing in September, Director Rangan Banerjee announced on Thursday. The offshore campus, established in 2023, currently offers only postgraduate courses. The two new undergraduate (UG) courses are Computer Science Engineering and Energy Engineering. A total of 60 students will be admitted to the two courses. This will include 20 students who have qualified JEE (Advanced) 2024 and 40 picked through a new entrance test called the Combined Admission Entrance Test (CAET), Banerjee said at a press conference.

India Inc is transforming its approach to rewarding employees as Gen Z enters the workforce, moving from traditional certificates to digital rewards like badges, notes, and points for instant gratification, ToI reported on August 8. Companies such as Epsilon India, Roche Information Solutions India, Merck India, Thryve Digital, and Allstate India are leading this change, integrating innovative methods to engage and motivate younger employees. A standout initiative is Epsilon India’s ‘passport’ called ‘Citizen of Youniverse’. «People, especially the younger lot, like to post everything on Instagram. The ‘passport’ will get stamped every time an employee takes part in any office gathering or event,» said Sonali De Sarker, the company’s HR head. Roche Information Solutions India has launched an internal marketplace called Applause, said the report (by Veena Mani). «Points can be redeemed to buy anything. It could be a pair of headphones or tickets,» explained Raja Jamalamadaka, the company’s MD.

Restaurant Brands International Inc.’s sales grew less than anticipated in the second quarter, the latest sign of consumer malaise hitting restaurants.

India vs Spain head to head:Looking at the head to head clashes, India won four of its matches against Spain in the past five encounters.India vs Spain match time:The India vs Spain Paris Olympics 2024 bronze medal match will begin at 5.30 pm IST at the Yves-du-Manoir Stadium in Paris.India vs Spain Live, Bronze Medal: The India vs Spain Paris Olympics 2024 bronze medal match will begin at 5.30 pm IST at the Yves-du-Manoir Stadium in Paris.India vs Spain Live, Bronze Medal: It is going to be PR Sreejesh's final international hockey match for the country, and the Indian hockey team is trying to best to give Sreejesh a medal-winning farewell at the biggest stage.

KPI Green Energy Ltd.(up 5.00%), Neueon Towers Ltd.(up 4.96%), Indowind Energy Ltd.(up 4.93%), Suzlon Energy Ltd.(up 4.81%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), JSW Energy Ltd.(up 1.37%), Voltamp Transformers Ltd.(up 1.23%), Kalpataru Projects International Ltd.(up 0.90%), Hitachi Energy India Ltd.(up 0.55%) and KEC International Ltd.(up 0.38%) stood among the top gainers.

₹1,499 and goes up to ₹39,999 (quite steep as an offering from fast-fashion but accessible if you consider that Khanna’s couture garments are usually worth lakhs)—but also showcases a relaxed design vocabulary for India. At the same time, it doesn’t compromise on colour and craft, unlike the 2021 H&M x Sabyasachi collection—the first Indian designer collaboration—that was largely restricted to chintz overkill and often-repeated silhouettes. Khanna has used a little chikankari on an oversized jacket that you can wear from an office meeting to a party; kantha on a long shirt that’s perfect for a Sunday brunch; an elephant-eye print on a shirt-like jacket and lungi skirt that would work at an evening party; and hand-embroidered patchwork on a coat that will make heads turn.

The World Cup Final (WCF) will be the season-ending tournament for elite shooters in pistol, rifle and shotgun to determine the best exponents in their respective events for the year. All the medal winners in the 12 individual Olympics shooting events at the Paris Olympics have automatically qualified for the WCF along with the title winners from last year's event in Doha, Qatar.

2024 OR1, measuring approximately 110 feet in diameter, is on a trajectory that will bring it close to Earth on August 6, 2024, at 6:41 PM IST. NASA’s Center for Near-Earth Object Studies (CNEOS) issued a warning about this near-Earth object (NEO), which is traveling at a speed of 30,381 kilometers per hour. However, it is predicted to pass safely away from Earth. 2024 OR1 belongs to the Apollo group, a category of asteroids with orbits that intersect Earth’s orbit, making them subjects of intense study. The asteroid's dimensions and rapid speed place it under NASA's close observation regime, part of a broader effort to track potentially hazardous asteroids. The size of 2024 OR1 is roughly comparable to that of a blue whale, and it moves at velocities similar to other fast-moving NEOs. Radar observations and optical telescopes have been employed to determine its trajectory and physical characteristics. NASA's initial detection of 2024 OR1 happened at the Jet Propulsion Laboratory (JPL) in Pasadena, California. The detection is part of the agency’s ongoing mission to monitor NEOs that could pose a danger to Earth. These efforts are managed by NASA’s Planetary Defense Coordination Office (PDCO), which is tasked with detecting, tracking, and characterizing hazardous asteroids and comets.

Nasa is contemplating extending the stay of astronauts Butch Wilmore and Sunita Williams from one week to eight months aboard the International Space Station (ISS). This consideration arises due to concerns about the safety of Boeing’s Starliner spacecraft for returning astronauts to Earth. If deemed unsafe, those on the ISS might have to use SpaceX's Crew Dragon for their return journey in February 2025. Nasa officials are expecting to decide later this month whether to continue with Starliner, which encountered propulsion issues during its June flight to the ISS. With Wilmore and Williams potentially stranded on the ISS, plans are being developed for their safe return to Earth. “However, with the two additional astronauts stranded on the ISS, Nasa has had to develop a plan to bring them back to Earth,” stated an official.

Vinesh Phogat has announced her retirement from the sport, a decision she shared through a heartfelt social media post. The 29-year-old grappler, who was disqualified from her gold medal bout in the 50kg freestyle wrestling category at the Paris Olympics, cited a lack of strength to continue her career. Phogat's disqualification occurred when she was found to be 100 grams overweight before the match. This announcement marked the end of her international wrestling career, which saw her becoming the first Indian woman to reach the gold medal bout in her weight class. Bajrang Punia, another renowned Indian wrestler, expressed his support for Phogat. He shared a message on social media, telling her, «Vinesh, aap haari nahi, haaraaya gaya hai (Vinesh, you haven't lost; you have been defeated).» He emphasized that Phogat remains a source of pride for India, not just as a daughter of the nation but also as a symbol of its glory .

Bangladesh is set to get a new, interim government headed by Nobel Peace Prize-winning economist Muhammad Yunus on Thursday, after weeks of tumultuous student protests forced Prime Minister Sheikh Hasina to resign and flee to India. Yunus, 84, Bangladesh's only Nobel laureate and a harsh critic of Hasina, was recommended for the job by the student protesters who led the campaign against Hasina. He was expected to be sworn in as chief adviser along with a team of advisers later on Thursday in an interim government which the army chief said may include 15 members, although discussions on the names continued till late on Wednesday.

BSF Salbagan, Agartala, Tripura to review the security and operational preparedness of BSF on Indo-Bangladesh border. DG BSF landed at the Agartala Airport on Wednesday where he was received by Patel Piyush Purusottam Das, IG BSF Tripura Frontier. DG BSF was given an operational briefing by IG Tripura Frontier and further DG BSF chaired a meeting with senior officers of BSF and discussed the ongoing law and order situation in Bangladesh and its implications on the security scenario.

BHEL, REC, HPCL, Ceat, and BPCL, along with several other companies, are likely to be in focus today as they have declared August 9 as the record date for determining eligible shareholders for dividend payments. This means today is the last day to buy shares of these companies to qualify for the announced dividends.

Nobel Laureate economist Muhammad Yunus is expected to return to Bangladesh on Thursday, Bangladesh-based Dhaka Tribune reported. Yunus will arrive at Hazrat Shahjalal International Airport in Dhaka on an Emirates flight from Dubai at 2.10 pm, subject to the flight being on time, Dhaka Tribune reported, quoting a statement from Yunus Centre. Yunus' return comes as he is set to take on a significant role as head of the interim government, following a meeting with President Mohammed Shahabuddin.

LIC, RVNL, BSE, Hindalco, Tata Motors, Eicher Motors among others will be in focus due to various news developments and first quarter results. LIC, Eicher Motors, RVNL, SAIL, MRF and GRSE Shares of LIC, Eicher Motors, RVNL, SAIL, MRF and GRSE will be in focus today as the companies will announce their first quarter results.