International Financial News

The drone in the video, which is clearly modeled after Iran’s Ababil model — the workhorse of paramilitaries across the Middle East since it was developed in the 1990s — reflected a design tweak: Its two front tires, instead of the usual one, provided actual battlefield evidence that Sudan is modifying the Iranian drone into its own weapon, which it calls the Zagel-3. That revelation follows the emergence in the last two years of ramped-up Iranian drone production in at least five other countries, from South America to Central Asia. Most recently, Russia has started making Iranian drones for its war in Ukraine, bringing the number of countries using Iranian technology, assistance, or parts to at least a dozen.

Ola Cabs is set to exit all of its existing international markets, namely the UK, Australia and New Zealand by the end of this month. The company has started sending out notifications to users about the impending closure, with operations set to cease in Australia from April 12. The firm had announced its rollout in Australia and New Zealand in 2018.

PNP) in 2024, reported CIC News. This number represents a hike of 5,000 nominations over 2023’s 16,500. Ontario got more allocation after a meeting last November where immigration ministers from all Canadian regions met with Federal Minister Marc Miller to discuss immigration's effects on their areas.

₹915.00. In the past 1 day, the Mentha oil rate on MCX has decline 0.6% from ₹925.70 to ₹915.00.Mentha oil is an essential oil obtained from a mint plant and India is one of the leading producers and exporters of mentha oil. Mentha oil is used in food, pharma, soaps, and other skincare/personal care products.

Gujarat International Finance Tec-City may soon enjoy a five-day work week, months after the government eased alcohol consumption rules in GIFT City to make it more attractive to global financial institutions. A working group set up by the International Financial Services Centres Authority (IFSCA) on uniform working hours and a holiday list for IBUs has recommended a five-day work week and a decision in this regard may be announced soon, according to two officials aware of the matter. «The recommendations are being examined, and we expect a nod for a five-day work week within the first quarter of 2024-25,» said one of the officials, who did not wish to be identified, adding that IBUs will also adopt the Mumbai holiday calendar. «This is required because most of the IBUs are involved in treasury operations, which, for Indian lenders, are mostly done through Mumbai, and also because overseas units of Indian banks follow the Mumbai holiday calendar.» The working group said in its recommendations that a five-day work week will align with practices adopted in international financial centres and offshore units of Indian banks. «The government wants to position GIFT City as a major financial hub. All these steps are very important benchmarks for an aspiring international financial centre like GIFT IFSC,» said another official.

Recently, two international organizations published their assessment of India’s labour market and employment situation. Two weeks ago, the International Labour Organization (ILO), in collaboration with the Institute for Human Development (IHD), released the India Employment Report 2024, focusing on youth employment. Shortly thereafter, the World Bank released its South Asia Development Update (SADU), with a focus on jobs.

The global labour market is in the midst of a gradual but significant transformation. Driven by a dramatic collapse in birth rates, impeded globalization, changes in the capital intensity of growth, a preference shift towards fewer work hours, initial use cases of artificial intelligence (AI) and societal angst over immigration, labour market dislocations have already begun and are only about to go further out-of-whack with time. The manifestations and initial responses are different, country by country, but the meta phenomenon is a major upheaval in labour markets that will necessitate responses.

American Astronomical Society, the best way to watch an eclipse while protecting ones eyes is by adopting 'ISO 12312-2:2015' certified eyewear. This specifies the properties that a solar viewer should have in order to protect your eyes from injury and provide a comfortable view. The world is witnessing a rare phenomenon- the total solar eclipse today.

Oil prices report second straight weekly gain, hit 6-month high on Middle-East crisis; Brent at $91/bbl “Crude oil exhibited significant volatility, extending its gains to reach a 5-1/2 month high amidst escalating tensions in the Middle East and constrained supply from OPEC+ nations. On Monday, both international oil benchmark prices experienced a decline of more than $1 per barrel.

Mumbai will face double property tax if they fail to display signboards in Marathi or Devanagari script. This was announced by the Brihanmumbai Municipal Corporation (BMC) today. The BMC further stated that it will revoke the licenses of illuminated boards lacking Marathi or Devanagari lettering, with license renewal costs ranging from Rs 25,000 to Rs 1.5 lakh. This enforcement aligns with the Supreme Court's directive and the Maharashtra Shops and Establishments Rules. The BMC's decision was approved during a review meeting chaired by BMC commissioner-cum-administrator Bhushan Gagrani in view of the compliance deadline set by the Supreme Court earlier.

The first labor union for Amazon workers in the United States is divided, running out of money and still does not have a contract two years after clenching a historic victory in New York City

A raft of agreements between African countries and Dubai-based company Blue Carbon could give the company control over large swaths of land for conservation projects

MUMBAI : Mumbai: New-age lender Veritas Finance Pvt. Ltd is preparing to raise ₹2,000 crore from an initial public offering, and has appointed Kotak Mahindra Capital Co., Jefferies, HDFC Ltd and ICICI Securities to help it with the share issue, three people with knowledge of the development said. Last year, the Chennai-based non-banking financial company had raised ₹1,200 crore in equity funding from Multiples PE and International Finance Corporation, among others, to expand access to capital for India’s micro, small and medium enterprises (MSMEs).

Royal Bank of Canada fired its chief Financial Officer Nadine Ahn after an internal review concluded that she was in an undisclosed close personal relationship with another employee that violated the bank’s code of conduct.

by Paul Deegan   

By Frank McKenna 

India, April 08, 2024- Nothing Before Coffee (NBC), a premier Jaipur-based coffee chain, is proud to announce its foray into the global market with the opening of its inaugural outlet in Portugal. Portugal, celebrated for its coffee culture and discerning coffee aficionados, serves as an ideal canvas for NBC to showcase its exceptional blends and warm hospitality.

Invest4Edu, an education fintech firm, has onboarded Hemika Tanwar as cofounder and chief people officer along with Chintan Kotak as cofounder and global business head. The company said these co-founders bring a wealth of experience, specialisms and cohesive vision to deliver fast and consistent growth. The company said it aims to expand its team, targeting India's burgeoning $2.5 billion ed-fintech market opportunity, competing with local and international players.

China has carried out military «combat patrols» in the disputed South China Sea, amid the US' first joint military exercises with the Philippines, Japan and Australia, Al Jazeera reported. China announced a naval drill on Sunday after defence chiefs from four nations said the Philippines will host joint drills in the same area on the same day. Beijing's People's Liberation Army (PLA) Southern Theater Command announced it was organising «joint naval and air combat patrols in the South China Sea».

Wipro have gone up 116% during Frenchman Thierry Delaporte's tenure as the CEO and MD. With effect from April 6, Srinivas Pallia, CEO of the Americas 1 business unit of Wipro, has taken over the hot seat. Delaporte had joined Wipro on July 6, 2020, when the market capitalisation was around Rs 117,500 crore. It ended at Rs 2.53 lakh crore at the end of Friday's session. After the rejig at the top management, the stock fell up to 1% at Rs 478.40 on BSE on Monday.

Sandip Sabharwal, asksandipsabharwal.com, says “the IT outsourcing industry is facing challenges in terms of demand but this could incrementally be positive in my view. I do not think this is incrementally negative. Most analysts are giving a sell on Wipro today; I am not so sure about that. This is something to be tracked.” Sabharwal further says that “it seems very clear that the main reason for Chandra Shekhar Ghosh resigning as CEO & MD of Bandhan Bank could be some reservation from the regulator, although we are not privy to that. Otherwise, when the board had approved his extension, there was no reason for him to step down.” Maybe we can start off with your take as to what is going on with respect to Wipro? There has always been a lot of uncertainty with respect to the top position at Wipro. Do you think that even with the new CEO, the improvement is going to be gradual? How do you expect the stock to react? Sandip Sabharwal: It will be a gradual process.