International Financial News

President Biden says Donald Trump is a lawbreaker, but his Administration is hardly any better. A case in point is its failure to file a report to Congress required by law on the status of Iran’s nuclear weapons program. Sen.

BYD has signed a contract to build a $1 billion factory in Turkey, stepping up its efforts to expand internationally. This calculated action seeks to support BYD's ambition to lead the world EV market. According to a statement shared on X, Turkey's industry minister Mehmet Fatih stated the factory will start production by late 2026. It is anticipated to increase BYD's capability for European vehicle manufacture, with an approximate yearly production capacity of 150,000 vehicles.

army personnel were deployed in the hills and dense forests of Jammu and Kashmir's Kathua-Udhampur-Doda belt as the search for the terrorists behind the ambush on an army patrol in Kathua district entered its fourth day on Thursday. Since the attack on Monday, that killed five army personnel and injured as many, 60 people have been detained for questioning, including three individuals suspected of providing food and shelter to the terrorists, officials said. One those detained is a woman who cooked food and handed over it to a person. The quantity of food prepared was sufficient for «10 to 15 people», they said. Security agencies suspect that the food was intended for the terrorists, the officials added. In Kathua, senior police and Border Security Force officers from Jammu and Kashmir and Punjab met to discuss the security grid along the International Border (IB), from across which the terrorists are believed to have infiltrated, the officials said.

Comments suggesting that Iran's reformist presidential candidate could increase government-set gasoline prices have raised fears of a repeat of nationwide protests

Tata Digital as CEO, the resignation of Paytm Payments Bank MD and CEO Surinder Chawla, and the appointment of Rakesh Singh as CEO of Paytm Money, among others. ET analysed the top-level movements with data from executive search firm Longhouse Consulting.

Piramal Capital & Housing Finance raised its maiden dollar syndicated social loan of $100 million (₹835 crore). The entire loan is pre-funded by Standard Chartered Bank and the foreign lender is expected to syndicate the loan in the next few months. The loan has a three-year maturity, and it is benchmarked to the three-month secured overnight financing rate (SOFR) plus 200 basis points. The prevailing SOFR is 5.3%. «Through this loan, we are trying to tap the overseas market and since a large part of our financing gels well with the social theme, this loan is the first of many to come,» a Standard Chartered Bank official said on condition of anonymity. «All highly-rated NBFCs have to start looking at some amount of financing from the international markets and this route is expected to pick up pace. In fact, there is a lot of global investor appetite for ESG space.»

Modarres military base and the Khojir missile production complex near Tehran, as reported by Reuters. Key Sites and Developments The imagery from Planet Labs shows structures surrounded by large dirt berms, which are typical for missile production to prevent explosions from spreading. Jeffrey Lewis from the Middlebury Institute of International Studies at Monterey noted that construction at Khojir began in August last year, while Modarres' expansion started in October.

Unionized workers at Samsung Electronics have declared an indefinite strike to pressure South Korea’s biggest company to accept their calls for higher pays and other benefits

Arbitration has been struggling to take off in India since the first Arbitration and Conciliation Act, 1996. This is worrisome. From PM to vice-president, many have argued for a sound institutional arbitration process. Law minister Arjun Ram Meghwal recently even wondered why India can't become the hub for arbitration in the Asia-Pacific region. As efforts are made to ensure its take- off, a recent finance ministry notification has the potential to nix the Act. It prohibits automatic arbitration clauses in any procurement and requires that even if one is incorporated, it be for less than ₹10 cr. The primary reason behind this is GoI's unsatisfactory experience in arbitration. The alternative prescribed is mediation or the courts, whose track record in timely disposal is poor. Most contracts come with an arbitration clause because it is quick, and the awards are final. It is the choice for businesses not only in India but all over the world.

Israel's Defence Minister Yoav Gallant said Wednesday that 60 percent of Hamas fighters had been «eliminated or wounded» in the Gaza war since the militant group's October 7 attacks. Gallant reaffirmed in a statement to parliament on the first nine months of the conflict that Israel was «determined» to meet its war goals of eradicating Hamas and bringing all hostages back from Gaza. The minister praised Israeli soldiers for «performing their work with dedication, sacrifice and success» and said «the achievements are many».

Zerodha chief executive officer Nithin Kamath has sought tax exemptions for startup investments, which he believes will eventually help address the unemployment issue plaguing the country. Taking to microblogging site 'X' (formerlyTwitter) days before the presentation of the Union Budget for FY25, he said that encouraging entrepreneurship is one of the ways to tackle unemployment.

Rent inflation remains a pressure point for small businesses

Tata Realty & Infrastructure has secured a loan worth Rs 825 crore loan from the World Bank Group member International Finance Corporation (IFC) for the strategic refinancing of Ramanujan Intellion Park in Chennai. This financing is a part of Tata Realty's broader commitment to advance its sustainability efforts and elevate the standard of green commercial spaces across India. The funds will further integrate state-of-art sustainable technologies and practices at this flagship asset, which boasts a total leasable area of approximately around 4.67 million sq ft of IT/ITES commercial office spaces.

Tampons sold under various popular brands may contain toxic metals such as arsenic and lead, according to a recent study out of the University of Berkeley in California.

Bandhan Bank board is meeting Saturday to decide on the issue of an interim head to navigate the daily operations as managing director and CEO Chandra Shekhar Ghosh is all set to step down next week. The journey of Ghosh as head of Bandhan Bank is coming to an end on July 9, in a rather imperfect way as the bank is yet to find his successor, which will leave a void at the top at least for some time in one of the two universal banks given licence in the past decade. The board may select any of the two executive directors—Rajinder Kumar Babbar and Ratan Kumar Kesh—to run the show, sources in the bank said. There is also a possibility of forming a committee of executives including both Babbar and Kesh to oversee the operation in the interim as happened in Tamilnad Mercantile Bank last month.

PALPITE: The wings of the world's tiniest birds are a near-invisible blur as they whizz around tourists visiting a private Cuban garden that has become a haven for the declining species. The bee hummingbird, which measures just five to six centimeters (two inches) long, is only found in Cuba. Its losses have been huge, with the International Union for Conservation of Nature (IUCN) saying it has disappeared from many areas due to deforestation. But in Palpite, in the southwest of the country, Bernabe Hernandez, 75, has turned his garden into a paradise for the bitty bird.

Sergey Lavrov has praised Prime Minister Narendra Modi's recent visit to Russia, calling it a success, adding that he stated the two leaders discussed almost each and every issue mentioned on the agenda including cooperation in global organizations like G20, BRICS, and the UN. While speaking to ANI, Sergey Lavrov mentioned Russia's support for India to become a permanent member of the United Nations Security Council. «I think the visit was very successful. They discussed each and every issue on the bilateral agenda. They discussed the international situation, our cooperation in G20, BRICS, the Shanghai Cooperation Organization, in the United Nations, where we support the Indian interest to become a permanent member of the Security Council, like we do for Brazil and African candidates,» said Lavrov.

Episode 5 unveils the aftermath of the intense clash at Rook's Rest, revealing pivotal developments in the Targaryen saga.

Alibaba's international e-commerce unit is tapping generative AI-powered tools to help cross-border merchants with translation, content creation and product returns, group vice president Kaifu Zhang said. Speaking on stage at the Next Conference in Singapore, the executive, who heads Alibaba International Digital Commerce's artificial intelligence (AI) initiative, said he was bullish on AI's potential for the company, even in the face of increasing tensions between China and the U.S.

The FanDuel sports book took bets on some mixed martial arts fights on April 1, 2022

electric vehicle (EV) policy to incentivise automakers that have already made investments in the country, people in the know told ET. This comes as US electric carmaker Tesla Inc is still to make any firm commitment on building a factory in India. The policy, which aims to accelerate the local manufacturing of high-end electric cars, currently supports only fresh investments. Consultations are also on with stakeholders on another key issue troubling carmakers. Govt Preparing SOPs The government may potentially consider investments in plants producing both internal combustion engine and electric vehicles as eligible for incentives to add scale and make large investments viable for automakers, the people said. About half a dozen carmakers such as Volkswagen-Skoda, Hyundai-Kia and VinFast have expressed interest in the new policy, the Scheme for Manufacturing of Electric Cars (SMEC), the people said.