International Financial News

T20 World Cup builds up, the Afghanistan Cricket Board (ACB) on Tuesday announced the appointment of former West Indian and T20 World Cup winner Dwayne Bravo as the Bowling Consultant for the tournament. Bravo is set to join the team during the preparation camp ahead of the marquee event in the Caribbean. «AfghanAtalan have already arrived in St. Kitts and Nevis and are expected to begin a 10-day long training camp, as part of their preparations for the ICC Men’s T20 World Cup 2024, which will be overseen by the coaching staff, including DJ Bravo,» said the official statement. «The 40-year-old Dwayne John Bravo was a former right-arm medium-fast bowling all-rounder for West Indies, having played 295 international matches, scoring 6423 runs and picking up 363 wickets. He has also 100 FC, 227 List A and a mammoth 573 T20 caps to his name. DJ Bravo is currently the leading wicket-taker in T20 cricket with 625 scalps to his name in the format. In addition, he has scored almost 7000 runs in the format, making him one of the most successful fast-bowling all-rounders in T20 cricket,» said the statement further.

IRCON International, which is the Indian engineering & construction corporation under the Railways Ministry, announced its financial results on Tuesday for the quarter ending on March 31, 2024. The engineering and construction company posted a marginal 3.8 per cent decline in its consolidated net profit to ₹246.8 crore for the March quarter from ₹256.49 crore same period a year ago. Also read: BHEL Q4 Results: Net profit drops 25% to ₹489 crore, revenue up marginally; dividend declared Whereas, the company reported an overall 19 per cent increase in net profit to ₹929 crore for the year-ended FY24.

Also read | For international travellers, India remains a distant destinationAccording to the report, a big dampener for India has been the steady reduction in government funding for overseas tourism promotions over the years, from ₹524 crore in 2021-22 to ₹341 crore in FY23, and further down to ₹167 crore for FY24. In contrast, substantial funds have been directed towards the development of pilgrimage destinations, with an increase of 66%, from ₹150 crore in FY23 to ₹250 crore in FY24. Despite these shifts, the overall budget for the tourism sector remains unchanged at ₹2,400 crore, the same as in FY23.

Federal Reserve Gov. Christopher Waller, citing a string of data showing that inflation appears to be easing, said Tuesday that he does not think further interest rate increases will be necessary.

“This is 1938," historian Timothy Snyder said at a weekend conference in Estonia. He warned that a Ukrainian defeat would shift the calendar to 1939. Many Americans still don’t fully grasp how serious the international situation has become.

Stocks that traded heavily or had substantial price changes on Monday: Norwegian Cruise Line, Wix

The Biden administration’s push to reclassify marijuana as a less-dangerous drug is going forward without the support of the nation’s premier narcotics agency

The US Commodity Futures Trading Commission expects to finalize its guidance for carbon credits within the next six months, as it pursues a broader crackdown of fraud and manipulation in the embattled market.

Pakistan Cricket Board (PCB) is keen on roping in legendary Vivian Richards as a 'Mentor' for the national team during the upcoming World T20 Cup scheduled in the Americas. Richards has worked as a mentor for Quetta Gladiators in the Pakistan Super League since 2016 and as per PCB sources current chairman Mohsin Naqvi is keen on having a big name associated with the national team. Also with most of the Super Eights games in the Caribbean, Richards' experience of conditions could come in handy. «Sir Viv Richards has some prior media commitments for the World Cup but things are being worked out as the Pakistani players have great respect and regard for him,» the source said. He said if the deal goes through Richards will mentor the team in the World Cup a role fulfilled by former Australian opener, Matthew Hayden in the last two T20 World Cups in 2021 and 2022 where Pakistan reached the semi-final and final.

Shares of Samvardhana Motherson International Ltd.(up 1.27 per cent), Bharat Forge Ltd.(up 0.81 per cent), Mahindra & Mahindra Ltd.(up 0.76 per cent), MRF Ltd.(up 0.42 per cent) and Ashok Leyland Ltd.(up 0.36 per cent) ended the day as top gainers in the pack.

economy is cognisant of the fact that the Indian economy is on the cusp of a long-awaited takeoff, the Reserve Bank of India on Tuesday said that extreme deprivation is set to become extinct. The central bank in its monthly bulletin noted that external agencies like International Monetary Fund and the World Bank have shown considerable appreciation for the dramatic reduction in poverty seen in recent decades. The World Bank has estimated that only 12.9 per cent of the Indian population lived on $2.15 per day at the height of the Covid-19 pandemic in 2021. $2.15 is the the global benchmark for extreme poverty.

SJVN Ltd.(up 9.99%), Adani Power Ltd.(up 7.15%), NHPC Ltd.(up 5.32%), Indo Tech Transformers Ltd.(up 5.00%), Jyoti Structures Ltd.(up 4.82%), Voltamp Transformers Ltd.(up 4.22%), GE T&D India Ltd.(up 3.82%), Suzlon Energy Ltd.(up 3.65%), Kalpataru Projects International Ltd.(up 3.42%) and Power Grid Corporation of India Ltd.(up 2.77%) stood among the top gainers.

Sikko Industries Ltd.(up 5.65%), Madras Fertilizers Ltd.(up 3.22%), Rashtriya Chemicals & Fertilizers Ltd.(up 2.69%), Krishana Phoschem Ltd.(up 2.47%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.99%), National Fertilizers Ltd.(up 0.84%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 0.77%), The Fertilisers and Chemicals Travancore Ltd.(up 0.74%), Khaitan Chemicals & Fertilizers Ltd.(up 0.57%) and Chambal Fertilisers & Chemicals Ltd.(up 0.45%) stood among the top gainers.

Man Industries (India) Ltd on Tuesday said it has bagged new orders worth Rs 505 crore from an international company. The order is for the supply of various types of pipes, the company said in a BSE filing. «The company has received new export orders of approximately Rs 505 crore,» it said. The total unexecuted order book of the company as of today stands at approximately Rs 2,100 crore which would be executed in the next six to eight months, according to the filing.

IndiGo makes long-haul foray, orders 30 wide-body aircraft How much can this translate into profits and how much has the airline earned from Pratt & Whitney as compensation will be known on Thursday. The last few months have seen airlines open up to compensation from Pratt & Whitney, which has run into millions of dollars, not all of which is a cash payout. Globally, the large airlines have reported their best-ever profits in FY24.

ANI): Indian Army Chief General Manoj Pande said that the ancient Indian wisdom is rooted in a 5,000-year-old civilizational legacy, where immense value is attached to knowledge. «The ancient Indian wisdom is rooted in a 5,000-year-old civilizational legacy, where immense value is attached to knowledge. This legacy is exemplified by a vast repository of intellectual literature, the world's largest collection of manuscripts and nurturing of a multitude of thinkers and schools, across various domains,» Pande said at a seminar on 'Historical Patterns of Indian Strategic Culture' in New Delhi on Tuesday. Pande said that 'Project Udbhav', was conceptualized with the idea to «rediscover the profound Indian heritage of statecraft and strategic thoughts, derived from ancient texts of statecraft, warcraft, diplomacy and grand strategy and introduce relevant teachings into the present-day military».

Chennai Super Kings (CSK) captain MS Dhoni said that even though he does not play cricket throughout the year, there is no «discount for age» when he plays in the Indian Premier League (IPL). The 42-year-old Dhoni played for CSK in the ongoing IPL 2024, under the leadership of Ruturaj Gaikwad, to whom he handed over the captaincy ahead of this season. His team crashed out of the playoffs race after a loss to Royal Challengers Bengaluru (RCB) on Saturday. CSK finished at the fifth spot with seven wins, seven losses and 14 points and crashed out of the final four race due to an inferior net run rate. Speaking in a video on Dubai Eye 103.8 YouTube channel on Monday, Dhoni said, «The toughest thing is… I am not playing cricket throughout the year. So I have to be fit. Once I come, you are competing against youngsters who are fit and playing international cricket. Professional sport is not easy, nobody gives you a discount for age. If you want to play, you have to be as fit as the other guy. Age does not really give that grace to you. So, eating habits, a bit of training and all those things are there. Social media, thankfully, I am not on social media, so there's less distraction.»

Balkrishna Industries Ltd.(up 9.44 per cent), Samvardhana Motherson International Ltd.(up 2.01 per cent), Exide Industries Ltd.(up 1.09 per cent), Maruti Suzuki India Ltd.(up 0.47 per cent) and Tata Motors Ltd.(up 0.32 per cent) were among the top gainers.

Donald Trump’s lawyers on Monday pressed the judge overseeing his hush money trial to stop the case from going to the jury and throw out the charges after prosecutors concluded their presentation of evidence.

Russia to halt its military invasion of Ukraine, China is supporting its ally as fully as it can without triggering Western sanctions. The farewell hug between the autocratic leaders of the respective nations — Chairman Xi Jinping and President Vladimir Putin — made a mockery of China's profession of being a neutral party. In his first overseas trip after commencing his fifth term in power, Putin visited China on 16-17 May. The occasion marked the 75th anniversary of diplomatic relations between the two countries, and a 7,000-word joint statement enthused that «Russian- Chinese relations stand the test of rapid changes in the world, demonstrating strength and stability, and are experiencing the best period in their history». Beijing previously declared a «no-limits strategic partnership» with Moscow, and the state visit reinforced the closeness between the two regimes. Instead of urging an end to the war, Xi embraced the Russian strongman and issued assurances of undying support. The joint statement noted the nations would «further deepen mutual military trust and cooperation». This includes expansion of military exercises, regular maritime and air patrols, and strengthening bilateral and multilateral coordination.

Bohra Industries Ltd.(up 2.14%), Madras Fertilizers Ltd.(up 2.09%), Khaitan Chemicals & Fertilizers Ltd.(up 1.78%), Mangalore Chemicals & Fertilizers Ltd.(up 0.54%), Sikko Industries Ltd.(up 0.45%), Southern Petrochemicals Industries Corporation Ltd.(up 0.33%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.26%) and National Fertilizers Ltd.(up 0.20%) were among the top gainers.