International Financial News

NEW DELHI : New Delhi: The crisis in the Red Sea, one of the world’s busiest trade corridors, hit global merchandise trade volumes in 2023, according to Ngozi Okonjo-Iweala, director-general, World Trade Organization (WTO). These disruptions, coupled with a global economic slowdown, likely led to a less than 0.8% increase in global merchandise trade volumes in 2023, falling short of the WTO's April projection, Okonjo-Iweala said while speaking at the business forum on the third day of the 13th Ministerial Conference (MC13) in Abu Dhabi.

Cloud computing has made a massive impact in today’s business landscape by making it easier for employees to collaborate and share company data seamlessly. It has made businesses more productive and is responsible for an increase in revenue in some cases. However, operating a business on the cloud comes with security risks that cybersecurity professionals have to contend with.

Earnings at Bank of Montreal and Bank of Nova Scotia were marred by increasingly cash-strapped consumers and businesses amid a challenging economic landscape.

₹1.8 lakh for a 40-minute circling time to ₹2.6 lakh for 60 minutes. This not only raised airfares but also affected airport operations, resulting in delays.

In a stock exchange notice today (28 February), the board said it would present the proposed changes for shareholder approval at a general meeting on 25 March, having already secured the green light from the Financial Conduct Authority and its lenders.  The directors said the move is required to facilitate the managed wind-down, which was announced on 29 January following the board's two-month strategic review launched to «maximise shareholder value». DGI9 is proposing that the trust will be managed by either a third-party investment manager or internally by the board of directors wit...

India’s position remained unchanged at 42 at the International IP Index 2024 compared to 2023, with no change even on the index score which stood at 38.64% since 2022, the US Chamber of Commerce said in a report released on Wednesday. The index ranks 55 countries on their intellectual property (IP) regime. The top countries on the index were the USA (95.48%), UK (94.12%), France (93.12%), Germany (92.46%), Sweden (92.12%), Japan (91.26%), Netherlands (91.24%), Ireland (89.38%), Spain (86.44%) and Switzerland (85.98%).

apex auditors of various nations, including India, are firming up an international framework for auditing regional and municipal bodies to gauge the performance of such grass-root level institutions, comptroller and auditor general (CAG) of India Girish Chandra Murmu said on Wednesday. India is planning to host a conference of the supreme audit institutions (SAIs) of Asia in September where a preliminary draft framework for such auditing standards could be deliberated on, Murmu said on the side lines of an event. As many as 262,000 local bodies exist in rural India alone, he said. Local bodies directly get a 4.2% of the Union government’s total divisible tax pool. A global framework assumes significance, as these local institutions play a crucial role in the implementation of various welfare programmes and other projects of both the Union and state governments in every nook and cranny of the nation. Better audit standards will not just result in greater transparency but also effective last-mile delivery of various schemes.

Canada’s immigration minister is pushing back against provincial assertions that the federal government didn’t consult with Ontario over the international student cap that upended the post-secondary sector.

₹12,142.14 Crore an under the Approved Resolution Plan, the Corporate Debtor (RCL) is proposed to be acquired on a going concern basis and the assets that continue on the books of RCL shall be available post implementation of the Approved Resolution Plan. Following governance issues and payment defaults, the Reserve Bank of India (RBI) took over the board of the Anil Ambani group's firm in November 2021.

PayU Payments has significantly bolstered its board of directors, appointing five new members in a strategic move that expanded the board's strength to seven on February 29, according to a report by Moneycontrol. This diverse group brings a wealth of experience in finance, law, and business leadership, aiming to provide valuable guidance and support to PayU as it navigates the ever-evolving payments landscape in India. Leading the new appointees is Renu Sud Karnad, the former Managing Director of Housing Development Finance Corporation (HDFC), who will serve as the Chairperson of the board, the report added.

The Internal Revenue Service (IRS) said on Tuesday that it hired two crypto industry executives to aid in digital asset reporting, compliance, and enforcement programs.

READ HERE: India's GDP growth to moderate in Q3 & Q4; Capex to remain tepid: ICRA's Aditi Nayar The brokerage further informed that its estimates are corroborated with the in-house developed SBI-ANN (Artificial Neural Network) model, with 30 high-frequency indicators. ANN has been trained for the quarterly GDP data from 2011Q4 to 2020Q4 and the in-sample forecast performance of the model in the training period has been precise.

Wipro to ‘Sell’ on unattractive risk-reward and has revised the target price on the stock to ₹440 per share from ₹430 earlier, following a sharp 34% stock upmove in the past three months. It believes Wipro stock is expensive at 21X FY2026E earnings and trades at just 6-9% discount to Infosys and HCL Technologies despite significantly weaker fundamentals. Also Read: Vodafone Idea share price falls over 4% after board approval to raise ₹45,000 crore “Wipro has materially underperformed peers such as Infosys and HCL Technologies on growth in the past several years and yet commands hefty multiple of 21X FY2026E earnings, at just a 6-9% discount.

Giridhar Aramane and German Ministry of Defence State Secretary Benedikt Zimmer chaired the India-Germany High Defence Committee (HDC) meeting in Berlin on Tuesday. The two sides discussed a range of bilateral security and defence issues, with a focus on developing the defence cooperation as a key pillar of the Strategic Partnership between India and Germany. Giridhar Aramane and Benedikt Zimmer held talks on the regional situation and discussed on potential defence industrial projects and proposals, according to Ministry of Defence press release. The two sides stressed on the need for a closer defence partnership and connecting defence industries of India and Germany. In a press release, Ministry of Defence stated, «They exchanged views on the regional security situation, discussed likely joint exercises with Germany in the Indo-Pacific, and deliberated on potential defence industrial projects and proposals.»

By Andrea Shalal

G20 finance ministers will meet Wednesday in Brazil, seeking ways to shore up a global economy whose nascent recovery is threatened by a raft of conflicts and crises, including the wars in Ukraine and Gaza. The Ukraine war could take center stage at the meeting, with G7 countries due to meet on the sidelines to discuss shoring up Western support against Russia's invasion — including what US Treasury Secretary Janet Yellen called an «urgent» proposal to use frozen Russian assets to increase aid for Kyiv.

nuclear weapons against each other or make a political statement in this regard, the Chinese foreign ministry's arms control department said. Director general of the department, Sun Xiaobo, called on nuclear states to fulfil their «special and priority responsibilities» on nuclear disarmament according to the U.N. Conference on Disarmament, which seeks to prevent nuclear war, official news agency Xinhua said on Wednesday. During the forum's weekly meeting in Geneva on Monday, Sun said the body should define a roadmap or timetable for an international legal instrument that would protect non-nuclear-weapon states from the threat of nuclear weapons.

By Scott Murdoch and Clare Jim

Ukrainian President Volodomyr Zelenskyy has arrived to Saudi Arabia and met the kingdom’s powerful crown prince to push for a peace plan and the return of prisoners of war from Russia

The U.S. and United Kingdom sanctioned a deputy commander of Iran’s Islamic Revolutionary Guard Corps and a Houthi militant member, Tuesday

Beyond Meat has reported higher-than-expected sales in the fourth quarter, despite weak U.S. demand