International Financial News

tech giant is expected to hire replacement workers for positions in India and Mexico, CNBC reported citing internal documents. The "core" team at Google, which develops the "technical foundation behind the company's flagship products" along with the user safety online and its global IT infrastructure, was the target of the internal job cuts, announced a day before Google's first-quarter earnings report.

The Taliban takeover three years ago has sent Afghanistan's economy into a tailspin

IRDAI) is most likely to give the go-ahead to IndusInd International Holdings Limited's acquisition of Reliance Capital's three insurance companies within a couple of weeks, said people aware of the development. The insurance regulator believes Reliance Capital is a major non-banking financial company going through bankruptcy proceedings, which need to be closed within the time frame prescribed by the court, they said. Last week, the committee of creditors had asked IndusInd International Holdings (IIHL) to conclude the process by the May 27 deadline. However, IIHL had informed lenders that without the IRDAI's approval, it would not be able to conclude the transaction. On February 27, the National Company Law Tribunal (NCLT) gave its nod to IIHL's resolution plan worth ₹9,650 crore for Reliance Capital, formerly under the control of Anil Ambani. The NCLT directed IIHL to close the deal within a 90-day period. In March, in a letter to the administrator, the IRDAI had expressed reservations regarding IIHL's takeover of Reliance Capital, particularly about IIHL's diverse shareholder structure, under which no single entity holds more than a 10% stake. The IRDAI requested in-depth information on IIHL's shareholders, including their identities, countries of incorporation, citizenship, equity percentages and details of major shareholder groups.

₹5,400 crore to boost production capacity and make acquisitions. The company’s investment strategy involves pursuing growth through a blend of organic and inorganic expansions over the next three years. It will finance the acquisitions and capacity additions mostly through internal accruals.

Mint. Industry watchers, however, feel the group needs to execute a big winning strategy or have a big pull brand to become successful and eventually list. The company is aiming to hit three times its last reported numbers by Diwali 2025.

Named Heuristik Capital, the four managers will use behavioural investment tools to understand bias in markets, said Beck-Friis in a LinkedIn post. According to the firm's page on LinkedIn, they will base their approach on the work of Daniel Kahneman on cognitive psychology in markets in the 1970s. Ardevora Asset Management shuts its doors after 14 years The company noted that around 65% of sell-side analysts have a «yearly earnings forecast error of above 10%», while the International Monetary Fund failed to forecast all recessions the year before they happened over the last two d...

He was previously head of distribution and, in the new role, will lead distribution for the UK, Guernsey, Jersey and the Isle of Man as well as oversee the international sales team across Europe, the Middle East and Asia. Reporting to managing director Duncan Stratford and CEO of international Andy Finch, Muncaster will focus on expanding CGWM UK's distribution channels as well as growing its client base. Canaccord Genuity Wealth Management names co-CIOs He joined the wealth manager in 2021, and prior to that he led distribution teams at UBS, Close Brothers and Bordier & Cie. Da...

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Jindal Stainless Limited (JSL) on Wednesday announced a Rs 5,400 crore investment plan for expanding its capacity by 4.2 million tonnes per annum (MTPA). Speaking to journalists in Delhi, Abhyuday Jindal, JSL's Managing Director said this investment will be funded through internal accruals with minimal debt raise. Company officials said JSL expects its debt to rise by Rs 300-500 crore, over the existing Rs 4,800 crore, by the end of the current fiscal due to the expansion plans. JSL said it will be developing and operating a stainless steel melt shop (SMS) in Indonesia with an annual production capacity of 1.2 MTPA. This will increase the company’s melting capacity by over 40% to 4.2 MTPA at a Rs 700 crore investment. This investment will be made through Jindal Stainless' Singapore based subsidiary which will enter into Joint Venture (JV) with Zenith International Capital Pte. Ltd, to operate the SMS in Indonesia.

blood pressure and, in turn, their risk of developing hypertension, according to a new research. Genomics is the study of an individual's entire genetic makeup, including the inter-relationships between genes, which are segments forming DNA that resides inside human cells. Data from more than a million people were analysed to discover regions on the genome, including over a 100 new ones, linked to blood pressure. The international study, led by Queen Mary University of London, UK, is published in the journal Nature Genetics. «Our study found additional genomic locations that together explain a much larger part of the genetic differences in people's blood pressure. Knowing a person's risk for developing hypertension could lead to tailored treatments, which are more likely to be effective,» first author Jacob Keaton, staff scientist at the National Human Genome Research Institute's (NHGRI), US, said.

Digantara, which focuses on space situational awareness (SSA), has been chosen for a joint industry space mission called Mission for Australia-India's Technology, Research and Innovation (Maitri) to manage debris in space. The mission, led by Space Machines Company, has won over AUD $8.5 million (Rs 46 crore) in grants from the Australian Space Agency as a part of the International Space Investment (ISI) India Projects programme.

GTRI) Wednesday said that nearly $700 million worth of India’s spice exports to critical markets are at stake due to cascading regulatory actions in many countries, as concerns are being raised about the quality of Indian spices. It cautioned that if the EU follows suit with a rejection across the bloc, it could impact an additional $2.5 billion of India’s spice exports. The US, Hong Kong, Singapore, Australia, and Malé have raised questions on the quality of spices supplied by leading Indian firms MDH and Everest. India exported spices worth $692.5 million to these countries in FY24. “This issue demands urgent attention and action to uphold the storied reputation of India’s fabled spice garden,” it said, adding that so far the response from Indian authorities has been tepid and formulaic.

things did not go as expected. While Rinku is not a part of the Final 15, he is among the reserves announced by the Board of Control for Cricket in India (BCCI). The squad was announced on April 30, just before the deadline of May 1, as set by the International Cricket Council (ICC).

Fortune Hotels, a member of ITC's hotel group, is planning to open a new hotel every month in the current financial year, the company's Managing Director Samir MC said on Wednesday. In an interview to PTI, Samir shared the expansion plans of Fortune Hotels, which has just opened its first international hotel — Fortune Resort & Wellness Spa Bhaktapur — in Nepal. He described it as a significant milestone in the company's «beyond borders» expansion strategy, envisioning its presence in South Asia and proximal markets. «Following on the heels of this prestigious opening, we are poised to open at least four to six more hotels in the first half of the fiscal year in unique destinations like Kevadia (Ekta Nagar, Gujarat), Candolim (Goa), Palampur (Himachal Pradesh), and a beach resort in Chennai amongst others and an equal number in H2 (second half: October-March),» Samir said.

stainless steel manufacturing company Jindal Stainless on Wednesday announced a 'three-pronged' investment strategy worth nearly Rs 5,400 crore for its melting and downstream capacities. Jindal Stainless has entered into a joint venture in Indonesia for developing, operating a stainless steel melt shop that has an annual production capacity of 1.2 MTPA. “For the Indonesian SMS, the partner entity is of international repute with extensive experience in running such projects. The downstream expansion in Jajpur and acquisition of CSPL are aligned with the Indonesian SMS capacity,” Jindal Stainless said in a stock exchange filing.

India needs to address the quality issue with regard to its spice exports with urgency and transparency as the ongoing quality concerns could threaten over half of the country's spice shipments, a report said on Wednesday. Economic think tank Global Trade Research Initiative (GTRI) said that every day new countries are raising concerns about the quality of Indian spices. This issue demands urgent attention and action to uphold the storied reputation of India's fabled spice garden, it said. «With nearly USD 700 million worth of exports to critical markets at stake, and potential losses soaring to over half of India's total spice exports due to cascading regulatory actions in many countries, the integrity and future of India's spice trade hang in delicate balance,» the report said.

Tomorrow's IPL Match: Sunrisers Hyderabad (SRH) will take on Rajasthan Royals (RR) on May 2 at the Rajiv Gandhi International Cricket Stadium in Hyderabad. SRH, having won five out of nine matches, are currently at number five on the points table. They have won three out of their last five matches.

Bryon Lake, JPMorgan Asset Management’s global head of ETF solutions, is departing the firm.

spinners in India's T20 World Cup squad suggest that the Indian selectors are expecting slow turners in the Americas but have they missed a trick by picking only three pacers in the final 15? Also questionable is the choice of pacers. Before the IPL began, Jasprit Bumrah was the lone certainty in the pace department while the other contenders had to prove themselves in the league. As it turned out on Tuesday, the selectors chose to play safe and picked Mohammed Siraj and Arshdeep Singh to support the one-of-a-kind Bumrah in the ICC event beginning June 1.

Class 10th Result 2024 on May 1. The fake notification, circulating widely, stated a specific time frame for the result announcement, but CBSE PRO Rama Sharma clarified the misinformation through the board's official WhatsApp group. Anticipated Announcement: Class 10th Result Expected in May According to CBSE Secretary Himanshu Gupta, the results for both Class 10th and 12th for the year 2024 are slated for release in May. The evaluation process nears its conclusion, hinting at an imminent announcement. Students can expect to find their results available on the official websites: cbse.gov.in and results.cbse.nic.in.

Delhi Police have revealed that the email used to threaten over 80 Delhi-NCR schools in the early hours of Wednesday contained the word 'Sawaraiim', which is an Arabic word used by the Islamic State since 2014. According to the sources, the email ID from which Delhi NCR schools were sent the threat letter is '[email protected].' The investigation so far has revealed that 'Sawariim' (clashing of the swords) is an Arabic word, that has been used by the Islamic State since 2014 to spread Islamist propaganda.