International Financial News

7.8%, taking the annual figure to a neck-turning 8.2%. Internationally, there is growing optimism that India is on the cusp of a long-awaited economic take-off, as evidenced by the recent revision in our sovereign-credit outlook from ‘stable’ to ‘positive’ by S&P Global Ratings, even if the actual credit rating remains barely investment grade (for now). While revising India’s GDP growth upwards by close to 2 percentage points for 2023-24, the International Monetary Fund’s (IMF) April 2024 World Economic Outlook alludes to the robustness of growth expected in 2024 and 2025 as “reflecting continuing strength in domestic demand and a rising working-age population." It may be tempting to conclude from all this that India has reached what development economist W.W.

Adani Ports and Special Economic Zone: Adani International Ports Holdings Pte Ltd (AIPH), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.Cochin Shipyard: Udupi Cochin Shipyard, a subsidiary of Cochin Shipyard, has won an order from Ocean Sparkle Limited, an Indian tug operator under Adani Harbour Services, for the construction of three Azimuth Stern Drive (ASD) Tugs of 70 T bollard pull power.Deepak Nitrite: The company announced that its subsidiary, Deepak Chem Tech Ltd, will acquire a 100% stake in Narmada Thermal Power Private Ltd for a cash consideration of ₹61.65 crore. The acquisition is expected to be completed by June 30.Tata Steel: The company faces industrial action from around 1,500 employees based at Port Talbot and Newport Llanwern in Wales.

Narendra Modi plans a raft of business-friendly measures if he wins a third term this week, including pushing through regulations making it easier to hire and fire workers, according to two government officials familiar with the matter.

«The recent pressure on the benchmark indices this week isn't primarily due to concerns about the election results. There's a broad consensus that the BJP will secure a simple majority. The debate is more about the exact number of seats,» says Harsh Gupta Madhusudan, NSE International Exchange. First of all, how are you viewing the election outcome? What are your predictions or analysis on this? There is some pressure on the benchmark indices and broader markets ahead of the election. Could this pressure intensify post-earnings given the lack of support from FIIs? What are your expectations from the election outcome? The recent pressure on the benchmark indices this week isn't primarily due to concerns about the election results. There's a broad consensus that the BJP will secure a simple majority. The debate is more about the exact number of seats. The final outcome will be known on June 4th. The recent market dip is more related to broader Asia selling off as US yields hit 4.6% on the 10-year, and the dollar index reached 105, although it moderated slightly when the US first quarter GDP annualized came in at 1.3% instead of 1.6%. This was more about US macroeconomic factors driving an Asia equity selloff rather than concerns about the Indian election results, as seen in the Nifty and Sensex over the past few days.

career capital, and you can build and control your career for continuous growth and lifelong primary income. Consider your knowledge of personal finance, where your financial capital is anything that generates value or money for you, be it gold, shares, bonds or rental property. Now, apply this concept to your career. Career capital is what you build and own, which compounds over time and gives you increasing dividends in terms of pay, autonomy, status, responsibility and growth. Why, how & whom? Creating career capital means your ability to invest in yourself to ensure long-term employability. Start with asking yourself three key questions: why, how and whom? ‘Why’ is about discovering and articulating your identity, current motivation, career choices, and the energy and dedication you will bring to building career capital. Without this internal motivation, the career capital approach will fail for you. ‘How’ is about building skills and knowledge that are valuable in the market and can be converted into income. ‘Whom’ is about people and networks relevant to your career, and how they perceive and interact with you. From these, you can formulate the three pillars of career capital—skills, relationships and reputation —which also reinforce each other.

Artificial intelligence (AI) and generative AI (GenAI) are advancing at an incredible pace, but we are unable to understand how they make decisions, so they are called ‘black boxes’. Researchers say they are now able to peek under the AI hood. Will this make AI models safer? AI algorithms, especially those involving complex machine learning (ML) models like deep neural networks, are modelled on the human brain.

Mint. The widespread Indian diaspora across the US, Europe, Africa, and South America also aids the demand momentum, he added.Since 2023, Indian airlines have placed a cumulative order of 100 wide-body aircraft with a 70 wide-body aircraft order placed by Air India in February 2023 and another 30 by IndiGo last month.“I would say it is a good thing happening in this sort of domain and good for the industry and consumers.

asteroid Dinkinesh by NASA’s Lucy spacecraft have revealed intriguing features, including a trough, a ridge, and a distinct satellite named Selam. These observations suggest that both Dinkinesh and Selam possess significant internal strength and have undergone a complex evolutionary process, according to a paper published in Nature on May 29, with Hal Levison, Lucy's principal investigator from the Southwest Research Institute in Boulder, Colorado, leading the research.

Shivakumar and IT/BT Minister Priyank Kharge on Sunday expressed confidence that the exit poll predictions would go wrong like they did during the assembly polls in Karnataka, last year.

OPEC+ on Sunday tentatively agreed to extend all production curbs through the end of the year in an attempt to shore up oil prices, delegates said, as top producers in the group inched toward a deal to cut output into 2025. The expected agreement comes on the same day the group’s kingpin, Saudi Arabia, launched a giant sale of shares in its national oil champion that will yield billions to help fund the kingdom’s economic transformation.

ALSO READ: India's forex reserves jump for third week to hit fresh record high of $648.7 bnIndia’s forex reserves’ last all-time high was in October 2021.During the reporting week ended May 24, the foreign currency assets (FCA), the biggest component of the forex reserves, in the country fell by USD 1.510 billion to USD 567.499 billion, showed the RBI data.Gold reserves stood at USD 56.713 billion, down by by USD 482 million. So far this year, the forex reserves have grown about USD 28 billion on a cumulative basis.As per a RBI report, the foreign exchange reserves are sufficient to cover around 11 months of projected imports of the country.In 2023, the central bank had added about USD 58 billion to its foreign exchange kitty.

Congress leaders on Sunday exuded confidence that the party will do much better than what was projected in the exit polls in states such as Karnataka, Maharashtra, Punjab, Haryana, Uttar Pradesh and Rajasthan, and asserted the INDIA bloc is going to form the next government. The assertion was made at an online interaction Congress general secretary Jairam Ramesh had before the media with key state leaders, PCC presidents and legislature party leaders of various states.

PTI, the passengers will also have the option to credit the amount instead of using it for travel.Air India Executive Vice President and Chief Operating Officer Klaus Goersch wrote a letter to the passengers over the inordinate delay and the inconvenience caused to them.Also Read: Air India passengers faint on San Francisco-bound flight amid 8-hour delay; no AC, say fliersThe San Francisco flight from Delhi got delayed by 30 hours, before it took-off on Friday and landed in San Francisco on Saturday, after the flight duration of around 16 hours.The apology and travel voucher gesture comes after the Directorate General of Civil Aviation (DGCA) on Friday issued a show-cause notice to airlines for inordinate flight delays and failure to take care of passengers."Please allow me to sincerely apologise, on behalf of Air India, for the extended delay in bringing you to San Francisco, which was caused by several technical delays and other operational constraints," reported PTI quoting Klaus Goersch.Also Read: Air India gets DGCA's show-cause notice over two international flight delays and 'failure to take care of passengers'"We are very sorry for this lapse in our service and the inconvenience caused to you," Goersch said in May 31 letter.The letter said that as a gesture of apology, Air India has offered a "travel voucher worth USD 350" for future travel with the airline.The regulator has asked Air India why enforcement action shall not be initiated against the airline as flight Al-179 dated 24 May and flight Al- 183 dated 30 May were inordinately delayed.Milestone Alert! Livemint tops charts as the fastest growing news website in the world

₹38,353 crore.Currently, Titan operates 464 Tanishq stores across 270 towns. In the past three years, it has added 110 new Tanishq and 140 Mia stores.

PTI quoting a source.Also Read: Delhi-Srinagar Vistara flight carrying 178 passengers receives bomb threatThe flight, however, landed safely at 10:19 am. Following that, security agencies started conducting a thorough check"A security concern has been noted by our staff while onboard the airline's flight UK 024 operating from Paris to Mumbai on 2 June 2024," said Vistara in a statement.A Vistara spokesperson said that following the protocol, the airline immediately informed the relevant authorities.Also Read: Hyderabad's Praja Bhavan receives bomb threat, disposal squad rushed to spotIt also said that the flight had landed at the Chhatrapati Shivaji Maharaj International Airport, Mumbai and the airline is fully cooperating with the security agencies for all the mandatory checks.On Friday, operations at Srinagar airport were affected for an hour after Vistara flight from Delhi received a bomb threat.

The world is too distracted with ongoing wars and high-stakes election campaigns to pay attention to a remarkable proposal from China. At the United Nations Conference on Disarmament held in Geneva this February, one of Beijing’s senior officials dealing with nuclear weapons policy declared that “nuclear-weapon states should negotiate and conclude a treaty on no-first-use of nuclear weapons against each other or make a political statement in this regard." There had been some indications towards the end of 2023 that China was planning to engage the United States in a new phase of discussions on nuclear security, but the proposal in Geneva is as breathtaking as it is promising. The world—and India — must approach it constructively.

Anand Mahindra shared a video of R Praggnanandhaa with the caption, «Now, it was the world #2 in the bag...»

reassuring, but external debt is only one part of our external liabilities. For a full picture of what India owes to foreigners, it is more useful to track India’s international investment position (IIP), which shows the stock of international financial assets and liabilities at a point in time. On the assets side, IIP includes all foreign financial assets that Indians own, including international reserves held by the central bank.

Norway Chess competition.“Incredible Praggnanandhaa! Beating both World No.1 Magnus Carlsen and No.2 Fabiano Caruana in classical chess at #NorwayChess is mindblowing. You’re on a roll and still just 18! Keep the tricolour flying high.

Boeing's Starliner spacecraft was called off at the last minute at the Kennedy Space Centre on Saturday. The mission to the International Space Station (ISS) has been postponed for the third time in the last two months.

chess sensation R Pragananadhaa continued with his dominating ways in the ongoing Norway Chess competition as he defeated the world number two player Fabiano Caruana in round five in a classical chess game on Saturday night.