International Financial News

MUMBAI : Anant Goenka, heir to the $4.4 billion RPG Group, has a distinct personality from his father, Harsh Goenka, and grandfather, the late Rama Prasad Goenka. He has built himself a reputation as more of a consolidator for the RPG Group, a conglomerate that had grown through aggressive acquisitions. But the third-generation scion, after about a decade-and-half at the group, may finally be ready to change stripes.

Bank holiday on May 1: May 1 is celebrated as Maharashtra Day in honour of the formation of Maharashtra in India. It marks the anniversary of the day in 1960 when the state was officially formed after reorganising states on linguistic lines. May 1st is also observed as Labour Day, a day to honour the contributions of workers and the labour movement.

India saying the country is dreaming of becoming a superpower while the Islamic nation is begging to avoid bankruptcy. He asked, “Who is responsible for this?" “There are powers behind the walls controlling us, and they make decisions while we are just puppets," he accused the Pakistan government of “selling democracy" as quoted by ARY News. Rehman also expressed dismay over the state of representation in Pakistan, saying, “The governments are formed in palaces and bureaucrats decided who would be the Prime Minister." “How long will we continue to compromise? How long will we seek help from external forces for being elected as a lawmaker.

HONG KONG—Some U.S. consumer brands in China are struggling with tepid consumer demand and a trend toward nationalist buying. McDonald’s is leaning in.

Russian lawmakers are poised to legalize the nation’s burgeoning industrial crypto mining sector, but could impose strict limits on home-based “private” miners.

Dubai International Airport, the world’s busiest for international travel, will move its operations to the city-state’s second, sprawling airfield in its southern desert reaches “within the next 10 years” in a project worth nearly $35 billion

A suspected missile attack by Yemen’s Houthi rebels targeted a ship in the Red Sea, the latest assault in their campaign against international shipping in the crucial maritime route

Medical device maker Philips will pay $1.1 billion to settle personal injury lawsuits in the U.S. over its defective sleep apnea machines

China Southern Airlines is launching China’s longest commercial flight from the southern city of Shenzhen to Mexico City. This will surpass the airline’s previous longest route from Guangzhou to New York city. While the latter covers a distance of 12871 kms, the former will cover a distance of 14147 kms, one way, as per a report on CNN. This flight from Shenzhen to Mexico city will be a 16 hour long non stop journey and the distance is expected to be covered in 16 hours. The departure from Shenzhen will be on every Tuesday and Saturday. This service will commence from May 11.

A cybersecurity incident led London Drugs to close all of its stores in western Canada on Sunday until further notice.

capital flows have been firm, foreign lenders have requested the banking regulator for flexibility in compliance with the central bank's Large Exposures Framework (LEF), particularly in handling certain types of accounts that facilitate global transactions. Banks have requested the Reserve Bank of India (RBI) to consider excluding Nostro accounts from the exposures that are permitted under the LEF as sporadic instances of foreign flows that are meant for payouts over the next couple of days have resulted in breaches of the central bank's exposure norms, sources aware of the developments told ET. A Nostro account is one that a bank holds with an overseas lender which is denominated in the currency of that country. Such accounts help banks in enabling fund flows for international trade.

Tata group-backed Indian Hotels Company (IHCL) is aiming for double-digit topline growth this fiscal and plans to open 25-30 hotels. It will also launch hotels overseas but its primary target will remain India's thriving hospitality industry. «Our commitment extends to maintaining zero net debt while accumulating cash reserves, positioning us strategically for future investments in cash deployment, capex, M&A, or strategic reserves,» Puneet Chhatwal, MD, IHCL, told ET in an interview. He said while FY25 will be a 'breakthrough year' for the company's international expansion, the primary focus will remain on the Indian subcontinent. «We're expanding internationally with a target of at least three hotels outside of India, with contracts already signed, including two in Bhutan, and ongoing discussions for locations such as Dubai, London, Frankfurt, and others. We have two hotels under construction in Dhaka and several negotiations underway in the Indian peninsula, Sri Lanka, and nearby regions,» he said.

India to over $4 billion in the current financial year ending June from $1.3 billion two years ago, its regional vice president for Asia and the Pacific Riccardo Puliti told ET. He said climate finance would occupy an even greater focus in the financial institution's future investment in the country. IFC is the World Bank's lending arm focussed exclusively on private sector in developing countries. «Nearly 41% of IFC's total investment this year is related to climate finance; 41% is already very high and will go higher because the whole Indian economy is moving in that direction,» Puliti highlighted.

home ministry has cancelled the Foreign Contribution Registration Act (FCRA) licences of six non-governmental organisations (NGOs) for their alleged violation of the FCRA rules, misuse of foreign grants, religious conversion, among others, ET has learnt. The cancellation came following a scrutiny by the Centre in March-April this year, said officials familiar with the developments. The NGOs include the Diocesan Society Church of North, Jesus and Mary Delhi Educational Society, Delhi Diocese Overseas Grant Fund, Institute of Economic Growth (IEG), Samuel Foundation Charitable India Trust and Hemophilia Federation of India (HFI). Earlier this month, the home ministry had revoked the FCRA licences of five leading NGOs on charges of violations.

Tata group-backed Indian Hotels Company (IHCL) has set an ambitious aim of a double digit topline growth this fiscal, besides plans of opening 25-30 hotels. It will also launch hotels overseas, but its primary target will remain India's thriving hospitality industry. “Our commitment extends to maintaining zero net debt while accumulating cash reserves, positioning us strategically for future investments in cash deployment, capex, M&A, or strategic reserves,” Puneet Chhatwal, MD and CEO of IHCL, told ET in an interview. Chhatwal said while FY2025 will be a 'breakthrough year' for international expansion, the primary focus will remain on the Indian subcontinent.

ALSO READ: Google layoffs: Sundar Pichai-led Alphabet's arm fires entire Python team, says report “I went downstairs and opened up my laptop. That was 21:00. I got a weird email saying 'Your Cloudtop StopInstance operation has begun' and I suddenly recalled I just had the cloudtop maintenance a few days back, it couldn't be a scheduled task, there is definitely something bad happening.

Harsh Goenka, who describes himself as a sports lover, has six tips for the BCCI for the upcoming T-20 World Cup. In a post on X on 'How can India win the T-20 World Cup', Goenka said, «Pick the team like it is done now in Dream11.» His second suggestion was to pack the team with batsmen. Goenka suggested the names of six batsmen as well: Virat Kohli, Rohit Sharma, Ruturaj Gaikwad, Shubman Gill, Shivam Dube, and Yashasvi Jaiswal.

optimal health, a person's ideal day should include more than four hours of physical activity involving exercise of light, moderate or vigourous intensity, and at least eight hours of sleep, new research has found. Light-intensity activity could range from doing chores to making dinner, whereas moderate and vigourous exercise involve more intentional movement such as a brisk walk or a gym workout, researchers said. The ideal daily routine should also include six hours of sitting and five hours of standing, they said. The international team, led by Swinburne University of Technology, Australia, analysed the behaviour of more than 2,000 people within a 24-hour day to determine the right mix of time spent sitting, sleeping, standing and being physically active for desirable health.

The departing portfolio managers are Chris Parr, Will Kenney, James Clarke and Niko de Walden.  Rutter joined RLAM in 2017 from Waverton Investment Management, where he worked as a director for global equities for nearly five years. Royal London AM head of fixed income Jonathan Platt to retire Prior to that, he was managing director for global equities at IronBridge International for more than five years and, before that, he worked as a portfolio manager at Deutsche Asset Management, now DWS. Following the resignations, RLAM has reshuffled its global equities team, which will no...

Nestle India Chairman & Managing Director Suresh Narayanan on Monday asserted that the company's infant food formulation for children below 18 months is done on a global basis and the allegation that «it is racially stereotyped is unfortunate» and untrue. Addressing reporters here, he said the amount of sugar content in infant foods is determined by the capability to meet the nutrition profile of a particular age group and that is universal. Nestle India's added sugar content in Cerelac is much lower than the upper limit prescribed by FSSAI, he added. «There is nothing in this product that makes it a product that is potentially of any risk or any kind of harm to the child,» he said.

Everest have come under scanner after Hong Kong and Singapore banned their spices due to “quality concerns". The health authorities in both Singapore and Hong Kong found cancer-causing pesticide called “ethylene oxide" in these masalas. It is pertinent to note that the International Agency for Research on Cancer has identified ethylene oxide as a major carcinogen.