International Financial News

Ravneet Singh Bittu on Saturday said the Ministry of Food Processing Industries will provide financial support for the establishment of 100 new NABL-accredited food testing laboratories across India in the 2025-26 financial year. Bittu, who inaugurated a food testing laboratory at Maharaja Ranjit Singh Punjab Technical University in Bathinda district, highlighted the critical role of food testing in ensuring food safety. «Food testing is vital for ensuring that food products meet safety standards and are free from harmful contaminants and pathogens,» Bittu said in a statement. The initiative is part of the government's broader plan under the Pradhan Mantri Kisan Sampada Yojana (PMKSY), which has allocated Rs 503.47 crore for 205 laboratory projects. Of these, 169 projects have already been completed, with Rs 349.21 crore disbursed. These labs play a crucial role in meeting the requirements of major regulatory bodies such as the Food Safety and Standards Authority of India (FSSAI), the Export Inspection Council of India (EIC), the Agricultural and Processed Food Products Export Development Authority (APEDA), and international agencies like the USFDA and EU regulations. Farmers and producers in sectors such as citrus fruits, green peas, cauliflower, carrots (both fresh and frozen), milk and milk products, basmati rice, wheat, millets like bajra and sorghum, mustard and sunflower oilseeds, and farm-produced shrimp will benefit from these state-of-the-art facilities, said Bittu, who is the Minister of State for Railways and Food Processing Industries.

Air India Saturday announced that the airline has resumed operations from London's Heathrow Airport after the disruption following Friday's power outage. “Our operations to and from London Heathrow (LHR) have recommenced after the disruption at the airport yesterday due to a power outage. Today’s flight AI111 was on schedule and other flights, to and from London, are expected to operate as per schedule. Flight AI161 of 21 March, which was diverted to Frankfurt, is expected to leave Frankfurt at 14:05 pm local time,” Air India said in a statement. On Friday, Air India said its operations to and from the London Heathrow airport were disrupted, with one flight returning to Mumbai, another diverting to Frankfurt and other flights remaining cancelled due to a temporary suspension of operations at the airport.

Karnataka Infrastructure Development Minister M B Patil on Saturday announced that a multidisciplinary team from the Airports Authority of India (AAI) will visit the state in April to conduct a feasibility study for the second international greenfield airport in Bengaluru. Three locations have been identified for the project. The team is scheduled to visit the state between April 7 and 9, he said. Patil stated that the Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC) has already paid a fee of Rs 1.21 crore to the AAI for the study. Two sites on Kanakapura Road and one on the Nelamangala-Kunigal Road have been shortlisted for the proposed airport.

IPL has become stronger than ever and doesn't see any threat from the growing number of T20 leagues globally, its chairman Arun Dhumal said on Saturday as he steered clear of the speculation swirling around an event backed by Saudi Arabia. Speaking to PTI as the league enters its 18th edition, Dhumal said the BCCI supports the rise in number of T20 leagues globally, especially in unchartered territories like Saudi Arabia, Europe and the USA. He feels the growth will eventually help the game ahead of the 2028 Los Angeles Olympics where cricket will be played. «There is no point discussing something on the basis of speculation. There is nothing on the table for discussion with everyone (all stakeholders). And as far as my knowledge goes, there is no infrastructure as of now in Saudi Arabia that can cater to a tournament of this scale. »So, there is no point discussing speculative stories," said the IPL chairman. Plenty has been reported in international media about the oil-rich Saudi Arabia foraying into cricket over the last two years but nothing concrete has come out of those speculations. Having said that, Saudi Arabia has been a sponsor in the IPL and hosted the mega auction last year.

Subscribe to enjoy similar stories. Next week, Lakmé Fashion Week, in collaboration with the Fashion Design Council of India (FDCI) and Reliance, will mark its 25th anniversary with a five-day showcase, starting 26 March, at Mumbai’s Jio World Convention Centre. Among the highlights will be AK-OK’s opening show, Satya Paul’s first collection under the new creative direction of Abraham & Thakore, and presentations by artisans-turned-designers from Gujarat.

London Heathrow’s unprecedented blackout on Friday has put the airport’s reliance on potentially vulnerable infrastructure into focus, at a time when the biggest UK hub is lobbying for an ambitious expansion plan. A fire late Thursday at a nearby electrical substation cut off the power supply to Heathrow, bringing flights to a standstill for almost all of Friday. While backup systems kicked in, they only allow the hub to land some aircraft and evacuate passengers, but not to support full operations. Only by late on Friday did a few flights resume, mainly to repatriate dislocated passengers. Smoke from a fire at North Hyde Electricity Substation near London Heathrow Airport in London on March 21. The public blowback to the outage was swift, with Willie Walsh, the former chief executive officer of British Airways parent IAG SA and now IATA director, saying it’s “yet another case of Heathrow letting down both travelers and airlines.” Walsh said it’s a “clear planning failure by the airport” if critical national infrastructure relies on one energy source without an alternative.

Heathrow Airport, one of busiest in the world, suffered a major power outage on Friday, the officials confirmed Saturday that its operations have returned to normal and are fully open today. On Friday, flights to and from London's Heathrow Airport were cancelled due to a fire at a nearby electrical substation that caused a significant power outage. The incident occurred just before midnight on Thursday, leading to the airport's closure until 11:59 p.m. on Friday for safety reasons. The London Fire Brigade responded with 10 fire engines and 70 firefighters, managing to contain the fire, although its cause remains under investigation with no signs of foul play.

Textiles on a Pan India basis, including Odisha, said the Ministry of Textiles. The PLI scheme promotes the production of MMF apparel, MMF fabrics, and technical textile products to achieve size and scale and become competitive. Rs 1,143 crore is allocated for disbursement under the PLI scheme to companies that achieve the prescribed threshold investment and threshold turnover. Out of the 74 applicants selected under the scheme, 24 are MSMEs. No application is made for setting up a factory in Odisha.

George Foreman, the legendary heavyweight boxer who defied the odds by reclaiming his world title at the age of 45 and later became a multimillion-dollar entrepreneur, passed away on Friday at 76. His family announced his death on Instagram, though no cause was given. A two-time world heavyweight champion and Olympic gold medalist, Foreman first rose to fame with a stunning second-round knockout of the undefeated Joe Frazier in 1973.

Subscribe to enjoy similar stories. Product marketers rely on up-to-date insights to refine messaging, track competitors, and understand customer sentiment. Traditionally, this involves manually visiting multiple websites, copying data into spreadsheets, and sifting through scattered information—an exhausting and inefficient process.

Subscribe to enjoy similar stories. Reliance Industries Ltd-backed JioStar is betting on “unprecedented viewing" for the 18th season of the Indian Premier League (IPL), which kicks off on Saturday night, as the newly merged media entity brings both TV and digital rights under one umbrella. The unified rights ownership marks a reset for IPL distribution, offering scale across platforms without internal competition, Kiran Mani, chief executive officer-digital, JioStar, said in an interview with Mint.

Joe Biden has privately signaled his willingness to assist Democrats in countering Trump-era policy reversals, offering to fundraise, campaign, and support rebuilding efforts. During a recent meeting with Democratic National Committee (DNC) chair Ken Martin, Biden emphasized his commitment to revitalizing the party, which currently faces historic lows in public approval. However, many within the party remain skeptical, viewing Biden as a relic of past electoral setbacks rather than a bridge to future success. A recent NBC News poll underscores the challenge: only 27% of voters hold positive views of the Democratic Party, the lowest since 1990.

the Netherlands is rolling out initiatives to attract top international scientists. Education Minister Eppo Bruins (NSC) recently unveiled plans for a dedicated fund aimed at recruiting leading academics, framing the effort as urgent amid shifting global dynamics. Bruins emphasized the value of elite researchers to both Dutch and European innovation, noting that many scientists are actively seeking stable environments to continue their work.

Tripura Finance Minister Pranajit Singha Roy on Friday presented Rs 32,423.44 crore budget for 2025-26, proposing a total of 13 new welfare schemes to help job seekers, mentally challenged persons, visitors to the state capital and others. No new tax was proposed in the budget with a deficit of Rs 429.56 crore. In the budget, emphasis was given to capital expenditure by allocating Rs 7,903 crore to boost economy and generate employment. Roy said the government will set up centres in Agartala, Udaipur and Ambassa to provide aspirants with quality coaching for various competitive examinations. Noting that the government focuses on inclusive growth, the minister said, «More focus was given on capital expenditure in the budget by allocating Rs 7,903 crore which is Rs 7,000 crore in the budget for 2024-25. The focus on capital expenditure will boost infrastructure building and generate employment for the youth,» he said. Roy said the government is set to establish a centre for computer-based examinations at Hapania International Fair ground in West Tripura so that the aspirants do not need to travel outside the state to appear in online examinations with a cost of Rs 15 crore.

Formula 1 returns to Shanghai for the Chinese Grand Prix this Sunday, the second race of the 2025 season. The 2025 Chinese Grand Prix will be broadcast in the United States on ESPN. Viewers in other countries can check their local listings for coverage.

Transformers & Rectifiers(India)Ltd.(up 9.76%), Inox Wind Energy Ltd.(up 8.77%), Orient Green Power Company Ltd.(up 6.52%), GE Vernova T&D India Ltd.(up 4.97%), SJVN Ltd.(up 4.57%), Voltamp Transformers Ltd.(up 4.22%), NLC India Ltd.(up 3.84%), Reliance Power Ltd.(up 3.76%), Kalpataru Projects International Ltd.(up 3.68%) and GMR Power and Urban Infra Ltd.(up 3.48%) stood among the top gainers.

Subscribe to enjoy similar stories. BERLIN—Germany’s mammoth spending package cleared its last parliamentary hurdle, paving the way for as much as €1 trillion in civilian and defense investments to jolt the region’s economy and reduce its military reliance on the U.S.

Power Grid Corporation of India, for allegedly taking a bribe of Rs 2.5 lakh from an executive of Mumbai-based KEC International to extend favours to the company, officials said on Friday. Kumar, posted in Rajasthan's Ajmer, was arrested on Thursday along with Suman Singh of KEC International in Sikar where both had agreed to meet for alleged exchange of the bribe amount, they said.

«At least 8,938 people died on migration routes worldwide in 2024,» the fifth year that numbers have reached record highs, the UN's migration agency said. «The tragedy of the growing number of migrant deaths worldwide is both unacceptable and preventable,» said Ugochi Daniels, the deputy director of the International Organization for Migration (IOM). «Behind every number is a human being, someone for whom the loss is devastating,» Daniels said. «The actual number of migrant deaths and disappearances is likely much higher, as many have gone undocumented because of the dearth of official sources,» the IOM said.

Bharat Heavy Electricals Ltd (BHEL) on Friday said it has secured an order worth Rs 7,500 crore for setting up a unit of 800 MW at Ukai Supercritical Thermal Power Plant in Gujarat. The order has been placed on BHEL by Gujarat State Electricity Corporation Ltd (GSECL), a statement said. The unit will start commercial operation within 54 months. According to the statement, BHEL has secured an order under international competitive bidding, for setting up a 1x800 MW Ukai supercritical thermal power plant (Unit-7) on an Engineering, Procurement & Construction (EPC) basis, in Tapi district, Gujarat.

SBI Card, Axis Bank, IDFC First Bank have revised the benefits. SBI Card credit card changes Starting April 1, 2025, SBI Card will implement significant changes to the benefits associated with its Club Vistara SBI Credit Cards and Club Vistara SBI PRIME Credit Cards. One of the key modifications is the removal of economy and premium economy ticket vouchers as renewal benefits. Additionally, milestone benefits that previously offered ticket vouchers on reaching spending thresholds of Rs 1.25 lakh, Rs 2.5 lakh, and Rs 5 lakh will be discontinued.