International Financial News

By Joanna Plucinska and Tim Hepher

NEW DELHI : Liquor ad masquerading as soda? Tobacco ad in the guise of cardamom? Companies pushing surrogate advertisements of products they are not allowed to promote may face stiff penalties to be specified in upcoming consumer protection guidelines, two officials aware of the plans said. A committee formed by the Central Consumer Protection Authority (CCPA) on surrogate advertisements is meeting next week to discuss the matter, one of the two officials said. Promotional activities must be genuine, and companies should not misuse legal provisions for brand extension, the official said on condition of anonymity.

Social Capital, the venture capital firm led by podcaster and former Facebook executive Chamath Palihapitiya, fired two of its partners, citing an undisclosed “situation,” according to a letter sent to its investors that was reviewed by Bloomberg.

The head of the U.N. atomic agency has observed firsthand the Fukushima Daiichi nuclear power plant’s ongoing radioactive wastewater discharges for the first time since the contentious program began six months ago

Three and a half years after hundreds of tons of improperly stored ammonium nitrate ignited at the Beirut port, setting off one of the world’s biggest non-nuclear explosions, Lebanese and French officials have put forward a plan for reconstruction and ...

Stocks that traded heavily or had substantial price changes on Wednesday: Dollar Tree, Vera Bradley fall; Valero, Williams-Sonoma rise

Godzilla x Kong: The New Empire" is all set to hit theatres this month. Ahead of the much-awaited release date, makers have unveiled stunning dolby first look. With this, tickets of «Godzilla x Kong: The New Empire» have gone for sale. Fans can buy tickets.

HT quoted Gavaskar's writing in his column for The Sportstar. ALSO READ: 'There is only one MS Dhoni but…’: Sunil Gavaskar praises Dhruv Jurel again Gavaskar also rued England's unnecessary chirping throughout the series and linked it to their lack of success in the Indian Premier League, unlike the Australians. Compared with Australian cricketers like Mitchell Starc and Pat Cummins, who broke the bank during the IPL 2024 auction in December, Gavaskar pointed out that English players have more often than not hit the jackpot.

Piyush Goyal is all set to take the plunge in the rough and tumble of electoral politics as the BJP's candidate from Mumbai North in the upcoming Lok Sabha polls. A three-term Rajya Sabha member, Goyal (59) has been in the thick of politics since his teenage years when he campaigned for his mother, late Chandrakanta Goyal, for the Maharashtra Assembly election. Ved Prakash Goyal, Piyush Goyal's father, was an old-time RSS worker who worked closely with Sangh stalwarts Balasaheb Deoras, Atal Bihari Vajpayee and L K Advani. The Goyal home at Sion in central Mumbai was a beehive of political activity, with veteran leaders opting for it as a residence of choice when visiting the metropolis. Piyush Goyal, known largely by his pet name «Happy», had the task of escorting leaders around Mumbai. The formal alliance of the Bharatiya Janata Party (BJP) and the Shiv Sena was also struck at the Goyal residence after a meeting between Sena supremo Balasaheb Thackeray and Vajpayee in 1984.

McDonald's (NYSE:MCD) stock fell on Wednesday after the company’s management hinted while speaking at a UBS conference that they expect slightly lower international business sales in Q1 compared to Q4. 

Luxury brand leases in India surge 170% in 2023: Report “2024 is anticipated to be a more dynamic year for the both the Asia Pacific real estate markets as well as capital in the region remaining the dominant investor in global real estate. The ability to act quickly, dig deeply into markets and sectors to identify value, and forge productive partnerships will be key to making the most of the region’s diversity and increased opportunity," said Chris Pilgrim, Colliers Managing Director of Global Capital Markets, APAC, said.

NEW DELHI : Tata Group aims to begin commercial production from India’s first semiconductor fabrication unit by 2026, an aggressive timeline considering the country’s long wait to become self-reliant in chips that power technology ranging from smartphones to defence systems. Tata Electronics Pvt. Ltd’s plant in Assam will begin with producing semiconductor chips starting at 28 nanometres, said N.

capital on Wednesday amid weak trends in the overseas markets, according to HDFC Securities. The precious metal had closed at Rs 66,350 per 10 grams in the previous trade. Silver also plummeted Rs 600 to Rs 75,300 per kg. In the previous close, it had settled at Rs 75,900 per kg.

Also Read: Bitcoin hits all-time high of $73,000 following release of US CPI data Shares of RailTel Corporation of India ended today's session with a drop of 20% at ₹308.25. However, the stock still holds a 183% gain in a year. Similarly, Ircon International witnessed substantial selling pressure, with its stock finishing today's session with a drop of 10.77% at ₹185.20 apiece and it is down 18% in a week.

Axis Bank on Wednesday opposed before the Delhi High Court BJP leader Subramanian Swamy's public interest litigation (PIL) seeking a probe into an alleged fraud committed by the bank to make «undue profits» through sale and purchase of shares in Max Life Insurance. Senior counsel for Axis Bank as well as Max Life told a bench headed by Acting Chief Justice Manmohan that the PIL by the former BJP MP was not maintainable as the issue squarely fell in the realm of a commercial transaction between private entities. Senior advocate Mukul Rohatgi, appearing for Axis Bank and its related companies, argued that the PIL does not state the «class» of individuals for whose benefit it has been filed when the aggrieved shareholders, if any, were capable of coming to court. Senior advocate Neeraj Kishan Kaul, who appeared for Max companies, asserted that the transaction, which was a purely commercial arrangement, has been looked into by the sector regulator.

finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. «We have asked banks to undertake comprehensive review of the gold loan business,» Financial Services Secretary Vivek Joshi told PTI. A directive in this regard was issued last month advising them to fix anomalies relating to collection of fees and interest and closure of gold loan accounts.

Figures from the Office for National Statistics also revealed the nation remained in the red on a year-on-year basis, down 0.3% on January 2023's print. While Tom Stevenson, investment director at Fidelity International, noted the «short and shallow recession may already be over», he warned the rising unemployment and slowing wage growth show the economy is «not out of the woods yet». He added the Bank of England is «likely to sit on its hands» over H1 while it waits for a clearer picture of the nation's growth and inflation trajectory. 'More questions than answers' as inflation re...

Prachanda', is set to seek a vote of confidence in Parliament today — March 13, PTI reported. This move comes after Prachanda parted ways with the Nepali Congress and formed a new alliance with the Communist Party of Nepal (Unified Marxist-Leninist) (CPN-UML). Prachanda, a former guerrilla leader from the Communist Party of Nepal (Maoist Centre), which is the third largest party in the House of Representatives (HoR), officially broke ties with the Nepali Congress by sending a letter to the Parliament Secretariat.

Lithium-ion battery pack maker and recycling firm Lohum on Wednesday said it has secured USD 54 million (Rs 450 crore) in a funding round from a bunch of investors. The investors who participated in the series B funding round of capital infusion include Singularity Ventures, Baring Private Equity, Cactus Venture Partners & Venture East amongst other new and existing venture firms, Lohum said in a statement. The company will use these funds to fuel its market expansion, scaling up recycling operations across India, and also expanding to new energy transition materials markets in North America, the EU, the Middle East, Africa, and Asia, it said. «The funds will expedite our international expansion, enable us to hire top professionals from talent pools in India, expand our strength, and provide fresh tailwinds to our industry-leading R&D innovation centre,» said Rajat Verma, Founder & CEO of Lohum.

rupee depreciated 5 paise to 82.85 against the US dollar in early trade on Wednesday, as the strength of the American currency in the international market and elevated crude oil prices dented investors' sentiment. Forex traders said the rupee is expected to trade with a slight negative bias on recovery in the greenback and concerns over elevated crude oil prices. However, a positive tone in domestic markets may support the rupee at lower levels. At the interbank foreign exchange, the rupee opened at 82.82 against the dollar and touched an early low of 82.85 against the greenback.

Chennai Super Kings (CSK) and Royal Challengers Bangalore (RCB) at the MA Chidambaram Stadium in Chennai. This season promises to be exciting as it marks the return of several prominent cricketing stars to the field. PBKS Starts IPL 2024 Campaign Against Delhi Capitals on March 23 Punjab Kings (PBKS) will start their IPL 2024 journey with a match against Delhi Capitals on March 23 at the Maharaja Yadavindra Singh International Cricket Stadium in Mullanpur, Chandigarh. The team, led by Shikhar Dhawan, will play only one home game in the initial phase of the tournament, with the remaining schedule to be announced after the General Elections 2024 schedule is finalized.