International Financial News

Imane Khalif has become the target of politicians, and rabble-rousers and has become the focus of one of the most polarised cultural debates — the inclusion of trans people in sports. After the Algerian boxer defeated her Italian counterpart, Angela Carini in the boxing ring at the Paris Olympics, her victory sparked a global outrage as she was assumed to be a trans woman. Khelif emerged victorious when Carini conceded merely 46 seconds into their welterweight match after enduring several blows to the face. Following Carini's Round of 16 bout in Paris, the Italian Prime Minister criticized the International Olympic Committee (IOC), stating, «Given the testosterone levels in the Algerian athlete's blood, it’s evident that the competition was unfair from the beginning.» In a social media post, American politician Donald Trump promised to ban men from women's sports.

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Supreme Court said on Friday while wondering why public interest litigations (PILs) are filed when infrastructure projects like highways are launched. The apex court's observation came while dealing with a petition over construction work for doubling of the railway tracks on the Vasco Da Gama-Kulem section of Tinaighat-Vasco Da Gama route in Goa. «We are only wondering why this happens only in this country that when you start constructing a road in Himachal (Pradesh), the PILs come. When you start constructing a highway, national highways, the PILs come,» a bench of Justices Surya Kant and R Mahadevan observed. «You tell us a single internationally famed tourist resort where the railway facility is not there,» the bench told the petitioner's counsel, adding, «Go to the Alps mountains and they take you through the snow in train.»

An estimated 1m Palestinians have fled Rafah since the start of Israel’s offensive there on May 6th. For those who remain, the fighting has had grisly consequences. At least 45 people, including a number of children, died on May 26th after an Israeli air strike set fire to a tent camp; survivors had to pull charred bodies from the wreckage.

The 2024 Budget has reshaped the investment landscape, making exchange-traded funds (ETFs) significantly more attractive compared to funds of funds (FoFs). With changes in tax treatments for gold, silver, and overseas investments, ETFs now offer a compelling advantage due to their shorter holding periods and trading flexibility.

Also read: Deepak Dhar of Banijay: Bigg Boss of entertainment in India After gaining experience at a hedge fund in New York and at a partner of JSW Steel in Japan, Jindal decided to learn the tricks of the trade at JSW Group. All along, he was clear that he wanted to build businesses and create his own legacy, much like his grandfather and father had in the past. And quite unknowingly, his first assignment handed him a brainwave that pushed him in the direction of sports.

Viacom18 and Walt Disney-owned Star India are hopeful of completing their merger by October, when the Competition Commission of India (CCI) is also expected to issue its order, officials familiar with the matter told ET. The National Company Law Tribunal (NCLT) has already put the merger scheme between Star and Viacom18 for final disposal. The merger, which was announced on February 28, is expected to receive the NCLT green signal as creditors and shareholders of both companies have approved it. «The biggest barrier to the merger proposal is the CCI approval. Once the competition watchdog approval comes, the merger deal will be more or less concluded. The expectation internally is that the CCI approval might come in October,» said one of the officials tracking the development.

RBI) is said to be agreeable to a restructuring plan proposed by Tata Sons seeking a waiver for the mandatory listing of the group’s holding company. The Tata Group holding company has already implemented parts of the plan, including wiping off debt, said people with knowledge of matter. The recast will result in Tata Sons not being classified as a non-bank finance company (NBFC) in the ‘upper layer’ (UL) subject to a few regulatory conditions. This, in turn, will imply that Tata Sons won’t be required to list itself on the stock exchanges. In line with the plan, Tata Sons has restructured its balance sheet to be a zero-debt company to be compliant with RBI rules, said the people cited above. Net debt was at Rs 15,200 crore on September 30, 2023, according to the latest Crisil Ratings report. It had standalone cash and cash equivalents of over Rs 2,500 crore. An RBI circular in October 2021 directed that those companies identified as NBFC-UL should be mandatorily listed within three years. The central bank had classified Tata Sons as an ‘upper layer’ NBFC in 2022, which would have meant a listing by September 2025 if it had not undertaken this restructuring exercise, said the people cited.

Paris Olympics judging panel after a photo circulated online of him embracing a competitor along the shore's edge in Tahiti this week. During one of the competition's off days, a commentator shared a photo on his social media showing Australian judge Benjamin Lowe posing alongside Australian surfing team member Ethan Ewing. Bede Durbidge, coach of the Australian team, was also in the photo, as per an AP report. The International Surfing Association released a statement Thursday saying it removed Lowe from the judging panel for the remainder of the competition to «protect the integrity and fairness of the ongoing competition.» «The ISA is aware of a photo circulating on social media in which one of the Olympic surfing judges from Australia is seen socially interacting with an Australian athlete and the team manager,» the ISA said.

Italian female boxer Angela Carini has spoken for the first time after her opponent and Algerian boxer Imane Khelif's 46-second win in a 66-kilogram fight at the Paris Olympics 2024 on Thursday. Carini revealed that she didn't give up but a punch hurt her badly. Subsequently, she decided to leave with her «head held high». 25-year-old Italian boxer retired hurt and shrugged off attempts by Khelif to shake her hand, before collapsing to her knees and sobbing uncontrollably in the middle of the ring.

Beach volleyball player and convicted child rapist Steven van de Velde was heartily booed by the crowd during his first two matches at the Paris Olympic Games.

When Bangladesh makes international news, it’s usually for tragedies: devastating cyclones, massive industrial accidents, grisly terrorist attacks. Even by those dismal benchmarks, the latest story from Bangladesh stands out—the deaths this month of more than 200 people during a government crackdown on student protests. The violence may signal the beginning of the end for 76-year-old Prime Minister Sheikh Hasina, under whose increasingly autocratic rule the country has turned into a de facto one-party state.

Supreme Court has sought response from the government, the Directorate General of Foreign Trade (DGFT), National Cooperative Exports Ltd and others on a plea challenging validity of two notifications prohibiting the export of non-basmati white rice since July 20. The petitioner, Rika Global Impex Ltd, has also challenged the DGFT's notification of September last year allowing export of 75,000 MT of non-basmati white rice to the United Arab Emirates only through the National Co-operative Exports Ltd. A Bench led by Justice B.V. Nagarathna also issued notice to the customs department on Rika’s petition alleging that the notifications were «ultra vires» to the Foreign Trade Policy, 2023 and liable to be set aside on account of «doctrine of legitimate expectation.”

Swapnil Kusale doesn't quite know just why it has taken so long for him to be at the Olympics, where he landed a medal on debut on Thursday. A medal that is definitely life-changing for him personally but also historic in significance for Indian shooting given that it's the first time that a rifle shooter has managed to do it in the physically draining 50m 3 positions event. Ask him why it took him so long to arrive, he was as candid as one can be. «May be I was not as strong mentally,» says the 28-year-old son of a teacher father and sarpanch mother from Kambalwadi village near Maharashtra's Kolhapur.

Debadatta Chand, CEO & MD, Bank of Baroda, says the bank’s guidance on the NIM has been 3.15% plus-minus 5 bps. And the good part of this quarter, the June quarter results is that we maintain the NIM vis-a-vis the last year. The last full year NIM was 3.18 and if you look at the June quarter, it is 3.18. So, while there is cost pressure at the industry level, we have managed NIM positively. You have mentioned this 12-14% credit growth guidance for FY25. Considering the growth that you have witnessed this quarter, what is giving you the confidence that we will see a pickup? Debadatta Chand: In the current quarter also we slightly calibrated the advance growth based on the deposit growth. And if you look at the segment of the advances, like the retail is growing more than 20%, the agri and MSME is slightly less than 10%, the corporate was at 2.9%. But within the corporate segment also, the co-corporate which is non-institutional, the growth is 12%. Currently the pipeline is very strong for July onwards and there is a strong pipeline because we wanted to calibrate the corporate advance in line with the deposit which is again possibly better this quarter. Now we have good control over deposit costs. So, I think the guidance of 12-14% that we are giving is quite achievable. The budget is also supportive in terms of MSME growth and in that scenario and earlier also, we have demonstrated that we are growing higher than 12-13%. So that is achievable.

tax evasion related to work down by their overseas offices, a government source said on Thursday, a day after Infosys was slapped with a $4 billion tax demand. In serving its highest-ever tax demand on Infosys, the government accused India's second-largest tech services company of evading taxes and sought Rs 32,000 crore ($3.8 billion), or almost all its revenue for the quarter ended June 30. Infosys said late on Wednesday it had received «pre-show cause» notices from the tax authorities but believed the relevant taxes had been paid. The company said in a statement it had paid its dues and is in compliance with central and state regulations.

Tata Group companyAutomobile Corp of Goa was a standout performer in the fourth quarter of FY24, with profit growth of 41% driven by 25% sales growth. Market participants were tracking the company and how it would perform in the following quarter, and it did not disappoint. The auto ancillary company posted robust growth In the first quarter of FY25, causing its stock to hit an all-time high of ₹2,861 on the BSE on 31 July.

₹37,500 a night for a regular room, about 15-25% higher than its usual rates, Mint found in its research. Similarly, pool view suites at the plush ITC Grand Bharat in a remote corner of Gurugram in Delhi-NCR will start from ₹32,000 a night excluding tax, which is ₹8,000 higher than its usual rate.

Equity mutual funds have offered up to 11% return in July. There were around 615 equity and equity-oriented mutual funds in the market in the said period. The toppers in the list were sectoral/thematic funds and only one scheme offered a double-digit return in July.

Stocks that traded heavily or had substantial price changes on Wednesday: Powell Industries, Mastercard rise; Pinterest, Lantheus fall