International Financial News

Latvia’s government has extended restrictions on the entry of Russian citizens into the Baltic country until next year

this week with adidas Canada, but wasn't allowed to speak with reporters in Connecticut about it on Tuesday, for fear that promoting the deal might jeopardize her student visa. Under current United States law, Edwards, who is from Kingston, Ontario, and other international students can only make money in this country with passive NIL deals. She gets a little something, for example, if someone buys a jersey with her name on it at the campus bookstore.

Bank of Montreal (BMO) on Tuesday missed analysts’ estimates for quarterly profit as the lender set aside a larger-than-expected sum of money to cover bad loans in an uncertain economy.

By Andrea Shalal

Brent crude declined about two per cent and WTI fell more than three per cent after a US central bank policymaker indicated interest rate cuts could be delayed by at least two more months. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a March 19 expiry, was last trading 0.59 per cent higher at ₹6,504 per bbl, having swung between ₹6,408 and ₹6,511 per bbl during the session, against a previous close of ₹6,466 per barrel.

Edited excerpts from the interview: Currently, my investment portfolio is primarily focused on equity and debt instruments. I don’t hold any gold or real estate investments at the moment. Approximately 75% of my portfolio is allocated to equity, while the remaining 25% is diversified in arbitrage funds.

NEW DELHI : New Delhi: The 13th Ministerial Conference (MCA 13) of the World Trade Organization on Tuesday announced new rules to streamline the international trade in services. These regulations, which apply on a Most Favored Nation (MFN) basis, aim to make authorization processes more transparent and accessible, with commitments to gender equality. The reduction in barriers to the services trade could have a substantial economic impact, particularly benefiting poorer countries, and emerging economies like India that are driven by services, experts said.

NEW DELHI : Skoda Auto is looking to double its sales in India by 2026 with the launch of its affordably priced compact SUV next year. As part of its broader plan for the country, the Czech automaker hopes to ship out as many as 100,000 cars in 2026, more than twice the number of vehicles it sold in 2023, a top company official said on Tuesday.

Reserve Bank of India (RBI) on Tuesday issued Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions – 2024 to bring clarity, brevity and harmonization to the instructions issued to various supervised entities for submission of returns. The move aims to reduce the burden of compliance on the regulated entities based on the recommendations of the Regulations Review Authority and an Internal Working Group of the apex bank.

UK higher education institutions and setting back the country’s ambitions to be a leader in science and technology, according to an influential British entrepreneur. Recent steps by Prime Minister Rishi Sunak to make the UK less attractive for overseas students will lead to a university funding shortfall and a reduced pool of talent for British employers, Ewan Kirk, founder of quantitative hedge fund Cantab Capital Partners and a former entrepreneur-in-residence at the University of Cambridge said. The measures will chafe against the premier’s ambition to make Britain a hub for high-growth industries such as biotechnology and artificial intelligence, he said Do you meet the immigration criteria? Check here “For all the guff and bloviation about making the UK a scientific superpower, you’ve actually got to do something that’s going to make that happen,” Kirk, also a non-executive director at defense firm BAE Systems, said in an interview. “The corollary of being a scientific superpower is presumably that you need a lot of scientists,” he said. “We’re not going to grow them all internally, so would it not be good to get some from outside?”

RBI has issued directions for filing of supervisory returns for various supervised entities in order to bring clarity, brevity and harmonization. The move will help reduce the burden of compliance on the regulated entities based on the recommendations of the Regulations Review Authority (RRA 2.0) and an Internal Working Group of RBI. «The Master Direction provides a broader framework to understand the purpose of the returns and harmonises the timelines for their submission. This Direction removes certain instructions that have become obsolete and consolidates twenty existing instructions, including one Master Direction for Non-Banking Financial Companies. It creates a single document for ensuring compliance related to submission of all supervisory data. A summary of all changes made are also included in the Master Direction for ease of reference,» the RBI said.

logistics startup Shadowfax has raised $100 million in a mix of primary and secondary investments as part of its latest funding round led by growth investor TPG NewQuest. Existing investors including Mirae Asset Management, Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital also participated in the fundraise. The round also includes an element of venture debt.

The strength of the US economy has been a key driver of global economic resilience, Treasury Secretary Janet Yellen plans to say Tuesday ahead of meetings with her counterparts from the world’s top economies.

Bank of Nova Scotia missed analysts’ estimates for loan-loss provisions amid growing stress in consumer lending as the Canadian economy weakens as well as higher delinquencies among retail borrowers in its Latin American businesses.

Ajit Pawar announced that a new MSME policy is being prepared for the state. "Under the Jal Jeevan Mission, the government intends to give tap water connections to nearly 1.47 crore households. The government plans to provide 34,400 homes for Divyang people under the Housing for All Scheme," he said.

Havells India Limited surged by 4 percent, reaching a 52-week high of ₹1,482. This notable increase came after Goldman Sachs upgraded the rating for the wires and cables manufacturer from "neutral" to "buy." Alongside the rating upgrade, the global brokerage also raised the price target for Havells to ₹1,660 from ₹1,540, indicating an upside potential of 17 percent from the previous session's closing price.

According to a statement on Fidelity International's website, the restrictions were made «in the best interests of customers» and were effective from 23 February. Clients will still be able to redeem existing holdings under the restrictions, by selling to cash or by switching to other funds. Fidelity previously restricted new investments into Jupiter UK Mid Cap in December 2022, but the ban was later lifted. Fidelity to merge Japan Smaller Companies fund with £450m Japan strategy The new restrictions follow the departure of UK Mid Cap manager Richard Watts, who will be leaving the ...

Hockey India CEO Elena Norman on Tuesday said the work environment in HI was «suffocating» and she had no choice but to call it quits. After holding the position for 13 years, Norman resigned and even though HI did not reveal the specific reasons for her decision in its official statement, the Australian spoke out on what pushed her to exit. «Absolutely, it was getting tough to deliver in the fight between two factions. The environment was becoming suffocating,» Norman told PTI in an interview. «There are two factions in Hockey India. There is (President) Dilip Tirkey and I and there is (Secretary) Bholanath Singh, (Executive Director) Cdr. R K Srivastava and (Treasurer) Sekar J Manoharan,» she said.

Bristol Myers Squibb aims to expand its research and development presence in India and expects its newly inaugurated Hyderabad facility to become its largest unit outside the U.S. by 2025, CEO Christopher Boerner said on Tuesday. The $100-million facility, inaugurated by Boerner on Monday, is expected to employ over 1,500 employees and will be used to enhance its drug development through the use of digital technologies and artificial intelligence, he said in his keynote speech at the BioAsia conference. Bristol Myers also operates a research and development centre in Bengaluru in partnership with the Biocon Group's Syngene International.

reported. This move aims to place greater value on traditional cricket formats. This trend has raised concerns about the future of Test cricket in India.

businesses need to nurture and invest in startups but not with an intention of owning them, Deepinder Goyal, founder and CEO of food-delivery company Zomato said on Tuesday. “I think established businesses need to nurture startups…and I don’t think we have that kind of a culture yet, and larger businesses also need to start funding startups but not with an intention to own them but with an intention to help them become bigger,” Goyal said, at the curtain raiser event of the Startup Mahakumbh, which is slated to happen on March 18-20.