International Financial News

07.08 / 09:41

Action President Justice country Courts International Turkiye to submit request to join genocide case against Israel in UN court

United Nations court on Wednesday to join South Africa's genocide lawsuit against Israel, a Turkish official said. The declaration of intervention will be submitted at the International Court of Justice in The Hague, the official said on condition of anonymity in accordance with regulations. Turkiye, one of the fiercest critics of Israel's actions in Gaza, will become the latest nation to seek to participate in the case. Turkish President Recep Tayyip Erdogan has frequently compared Israeli Prime Minister Benjamin Netanyahu to Adolf Hitler, accused his country of genocide, called for it to be punished in international courts and criticised Western nations for backing Israel.

07.08 / 09:27

security Remark performer International athletics wrestling Hema Malini on Vinesh Phogat’s disqualification from Olympics: "Important to keep weight in check"

Hema Malini on Wednesday expressed surprise and disappointment at Vinesh Phogat’s disqualification from the Paris Olympics for being 100 grams overweight. «It is very surprising, and it feels strange that she was disqualified for being 100 gm overweight. It is important to keep the weight in check. It is a lesson for all of us. I wish she could lose that 100 gm quickly, but she would not get an opportunity,» Malini said.

07.08 / 08:46

security Rhythm performer Olympics International athletics wrestling From Vinesh Phogat to Milkha Singh, 7 unluckiest Indian athletes at Olympics

07.08 / 08:27

MET Career performer Olympics International wrestling Why Vinesh Phogat's disqualification from Olympics isn't the first setback for the ace Indian wrestler

Vinesh Phogat on Wednesday was disqualified from Paris Olympics' 50 Kg wrestling category for being overwieght by 100 grams. A statement released by the Indian Olympic contingent revealed that 29-year-old Phogat's disqualification was triggered by a slight uptick in the body weight. «It is with regret that the Indian contingent shares news of the disqualification of Vinesh Phogat from the Women's Wrestling 50 kg class. Despite the best efforts by the team through the night, she weighed in a few grams over 50 kg this morning. No further comments will be made by the contingent at this time. The Indian team requests you respect Vinesh's privacy. It would like to focus on the competitions on hand,» the Indian Olympics contingent said.

07.08 / 01:51

COST UPS Citi economy country International Mauritius keen to set up shop in GIFT City

Mumbai: Seven years after losing the tax edge that had made it India's second-biggest source of capital, Mauritius is eyeing a comeback, this time through the GIFT City route. The island nation's International Financial Centre (IFC) is considering opening an office in Gujarat International Finance Tec-City (GIFT City), a top Mauritius minister said. A large Mauritius delegation currently visiting India will meet officials of the International Financial Services Centres Authority (IFSCA) to discuss areas of collaboration, including equivalence between the two.

07.08 / 01:29

markets FIVE economy Nikkei Trade reports International Asian stocks Asian stocks resume drop in rollercoaster trade: Markets wrap

Equity benchmarks dropped in Japan and Australia, while futures pointed to modest gains in Hong Kong. The S&P 500 and Nasdaq 100 rose on Tuesday — following a Japan-led rebound in Asia — with both climbing 1% after a global meltdown. Wall Street’s “fear gauge” — the VIX — saw its biggest plunge since 2010.

07.08 / 00:42

Booking Election track 2020 reports International New book unveils chaos and struggles in Donald Trump's camp post-2020 election

Trump in Exile," Meredith McGraw's latest book, reveals the disarray in Donald Trump's political operations following his defeat in the 2020 election and the Capitol riot on January 6. Trump's urgent March 2022 call to conservative consultant Susie Wiles is detailed in the book, which was reviewed in Vanity Fair. To sort out his chaotic campaign, he turned to her. Trump acknowledged that he didn't know who was in control, how much money he had, or if anyone on his team was stealing, as per the reports of MSN.

07.08 / 00:20

markets UPS CEO economy performer reports International Consumer giants from Starbucks to General Mills have one big sales problem: China

BEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market.

06.08 / 20:30

UPS Compilation economy show Updates International Work demand falls sharply under MGNREGS in July

monsoon showers that typically causes migration of unskilled workers to agriculture. Work demand under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) usually drops when better-paying employment opportunities are available with strong economic growth. About 22.80 million individuals demanded work in July under the scheme, down 21.6% from a year earlier, showed the preliminary data compiled by the rural development ministry. With this, the work demand contracted for a ninth straight month through July, showed the data. The individuals represented 18.90 million households in July, down 19.5% from a year before and 28.4% from the previous month.

06.08 / 19:50

markets Coca-Cola Action security country International Bangladesh crisis: FMCG majors swing into action

Bangladesh operations said they are stalling field operations and keeping offices shut in the neighbouring country to ensure safety of employees and are closely monitoring the geopolitical crisis there. Coca-Cola, Hindustan Unilever, Nestle, PepsiCo, Marico and Dabur are among the companies taking immediate steps including sending out advisories to employees to stay indoors and not report to work at office a day after violent protests forced prime minister Sheikh Hasina to resign and flee to India, executives said. Some are even shutting sales operations until normalisation resumes.

06.08 / 19:03

Google Landmark Fighting Justice Department Courts International In landmark Google ruling, a warning to companies about preserving evidence

U.S. District Judge Amit Mehta in Washington, D.C., lambasted Google for allegedly failing to preserve internal chats and abusing protections for legal communications, but he declined to formally sanction the company. The U.S. Justice Department had asked Mehta to punish Google for what the government called its «systematic destruction» of employee messages and «flagrant misuse» of the attorney-client privilege that shields communications with lawyers.

06.08 / 15:56

UPS CEO economy show gatherings International Blackstone, BNY and CyrusOne to attend UK's international investment summit

The summit, scheduled on 14 October, is expected to gather around 300 industry leaders in a move to «catalyse investment in the UK», according to the UK government. Chancellor Rachel Reeves, who is meeting the three CEOs in New York this week, reiterated once again that «Britain is open for business» and added that by signing up «to our international investment summit, it shows they believe it too». «They recognise we have taken some difficult decisions to fix the foundations of our economy and set us on a path to sustained economic growth as the government's number one mission – it ...

06.08 / 14:12

markets Manufacturing Action President War International Surat diamond firm announces 10-day 'vacation' for 50,000 employees citing recession

polished diamonds in international markets due to recession. As per Kiran Gems company website, it is the 'world's largest manufacturer of natural diamonds. «We have announced a 10-day vacation for our 50,000 employees. Though we will deduct some amount, all employees will be paid a salary for this period. We are forced to announce this vacation because of the recession. I am tired of this recession now,» Kiran Gems chairman Vallabhbhai Lakhani told PTI. He underlined the short supply of rough diamonds and the lack of sufficient demand for polished diamonds exported by the company.

06.08 / 13:22

UPS Provident Target economy recommendations International India stands out on growth and external fronts amongst South Asian economies: S&P Ratings

fiscal deficit will decide on the direction of sovereign ratings. S&P Director, Sovereign and International Public Finance Ratings (Asia-Pacific), Andrew Wood said the rating agency sees a lot of promise in India's economic growth story even though the global economic growth outlook remains somewhat challenging. «We could raise the rating if India's fiscal deficit narrows meaningfully such that change in net general government deficit falls below 7 per cent of GDP on a structural basis,» Wood said at a webinar on Asia-Pacific.

06.08 / 13:06

markets security Trade Experts Inside consequences International Sebi targets AMCs in market abuse crackdown, operational challenges ahead

Read this | Surviving the front-running storm: An investor's handbook While industry experts applaud the intent, they also warn of potential unintended consequences. Sebi issued a circular on Monday amending the Mutual Funds Regulations, requiring AMCs to establish an institutional mechanism.

06.08 / 10:31

FIVE Career voice Olympics prevention International wrestling Wrestler Vinesh Phogat cries after stunning win against 4 time world champion Yui Susaki in Olympics

Yui Susaki of Japan, Indian wrestler Vinesh Phogat, was seen crying after winning the match. She is all set to advance to the quarterfinals of the Olympic Games. Competing in the 50kg category, Phogat's victory over Susaki marks a significant achievement in her wrestling career. Susaki, a reigning Olympic champion and four-time World Champion, has never lost an international match until now, making Vinesh's victory that much sweeter. Trailing 0-2 after conceding penalty points for passivity, Phogat made a brilliant comeback in the last five seconds to clinch three points, winning the match 3-2.

06.08 / 07:14

markets UPS Citi ETF Strategy International GIFT City regulator proposes lower PMS ticket size, opens door to retail funds

The International Financial Services Authority (IFSCA), which regulates GIFT City, has proposed a reduction in the minimum ticket size for portfolio management services (PMS) from $150,000 to $75,000, or about ₹64 lakh at current exchange rates, according to a consultation paper released on Monday. This brings the minimum ticket size for PMS closer to the ₹50 lakh stipulated by markets regulator Sebi for onshore PMS schemes.

06.08 / 07:07

markets UPS Trade AGRO Updates International Stock market update: Fertilisers stocks up as market rises

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 6.31%), Chambal Fertilisers & Chemicals Ltd.(up 2.84%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 2.60%), Rashtriya Chemicals & Fertilizers Ltd.(up 2.59%), Gujarat State Fertilizer & Chemicals Ltd.(up 2.32%), The Fertilisers and Chemicals Travancore Ltd.(up 2.13%), Coromandel International Ltd.(up 2.07%), Zuari Agro Chemicals Ltd.(up 2.02%), Madras Fertilizers Ltd.(up 1.79%) and Aries Agro Ltd.(up 1.77%) were among the top gainers.

06.08 / 05:13

FIVE Fighting Dreams Videos International hockey India hockey team at Olympics: The size of the fight in Harmanpreet's men is making us dream of a medal

Olympics 2024 and they have inched a step closer to an Olympic medal, with an eye on the gold. Having beaten Great Britain in a thrilling quarterfinal clash, Harmanpreet and Co have dodged a bullet and will face 2023 World Champions, Germany on Tuesday. But the field is not clear for the Indian men as they do not have defender Amit Rohidas on their side for the penultimate clash as he has a one match ban in place by the International Hockey Federation.

06.08 / 02:31

COST UPS Opinion Research Everest International Why India’s IT giants are shunning costly consultants

From Wipro to LTIMindtree, IT employees irked by another delay in salary hikes Subcontractor costs for Tata Consultancy Services Ltd, India’s largest IT services company, dropped to 4% of its operational revenue of ₹62,613 crore in the June quarter, its lowest since October-December 2019, when its temporary worker costs accounted for 7.9% of revenue. For HCL Technologies Ltd, this figure dropped to 12.6% from 14.8% in the same period, and for Wipro Ltd, to 11.3% from 14.7%.

06.08 / 01:36

Justice country Department prevention International Commodities giant Glencore is ordered to pay over $150M in wake of Congo mining bribery case

Federal prosecutors in Switzerland say they have found Glencore’s international unit “criminally liable” and ordered the commodities giant to pay over $150 million in fines and compensation after ending a probe of bribery involving Congo’s mining industry

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