International Financial News

By Huw Jones

Tata Motors, Mahindra, and Hyundai argue against any preferential tax treatment for these vehicles. These companies account for over 85% of the Indian car market, effectively making this an industry-wide discord. Both the camps have lobbied with various government departments and ministries, including the Prime Minister’s Office.

Ravi River to Pakistan. Situated on the Punjab-Jammu and Kashmir border, this project will help Jammu and Kashmir region and Punjab to benefit as previously the water was destined for Pakistan. Some media outlets in Pakistan termed it as 'Water Terrorism' despite Indus Waters Treaty giving India exclusive rights over the water usage of the Ravi river. Pakistantoday.com.pk reported the news under the headline of "‘Water terrorism’ intensifies as India stops Ravi River water to Pakistan". The Dawn reported that a rally was organized in Lahore, calling for a review of the Indus Waters Treaty between Pakistan and India and restoration of the natural flow of rivers, including the Ravi. They urged the government to prevent toxic sewage from draining into the Ravi and other abandoned rivers. A Samma.tv report accused India of India persuing 'water terrorism' agenda. (Also read: India completely stops Ravi river water flow to Pakistan. Historical context and significance)

bomb threat call was received at the Indira Gandhi International Airport in the national capital on Tuesday, which later turned out to be a hoax, Delhi Police said. According to official, the hoax call of bomb threat was received at the airport at around 5.15 am regarding a flight from Delhi to Kolkata, which was scheduled to depart from IGI Airport After an inquiry, the call was found to be bogus, Delhi Police said.

Platinum Industries opened for subscription today. The issue will be available for the public to bid till February 29. Ahead of the IPO, the company has garnered Rs 70.59 crore from anchor investors.

U.S. economic growth has been a «key driver» of better than expected global growth, U.S. Treasury Secretary Janet Yellen will tell a news conference on Tuesday ahead of this week's meeting of G20 finance officials in Sao Paolo, Brazil. In excerpts of her remarks released by Treasury, Yellen said the International Monetary Fund and other forecasters had projected a broad-based slowdown in the global economy in 2023 that did not happen.

tax benefit is spurring US companies including PepsiCo Inc. and International Business Machines Corp. to sell bonds through their Singapore subsidiaries, fueling a record surge of sales from borrowers in the city state. The tactic can allow companies to deduct interest expense from their taxable income in both the US and Singapore. That double deduction means that effective borrowing costs — after taxes — can be materially lower than they would be with a bond issued in the US.

economists, decelerating from 7.6% in the preceding three months. Forecasts ranged from 6% to 7.2% for the quarter ended December. The Reserve Bank of India estimates the economy to have grown 6.5% in the period. The government is scheduled to release the data on Thursday. Monetary policy may weigh «A slowdown in state-led capex, which has been propelling investment, likely contributed to the expected deceleration in Q3,» said Rahul Bajoria, managing director and head of EM Asia (ex-China) economics at Barclays.

New Delhi: Russia’s top luxury hotels, once managed by Ritz Carlton, Four Seasons and Park Hyatt, are looking at leading Indian hospitality firms to run these properties, after the international brands checked out of the country following its invasion of Ukraine. Russian officials have sounded out Tata group’s Indian Hotels Co. Ltd (IHCL), which operates Taj luxury hotels; and East India Hotels (EIH), which operates The Oberoi hotels, a person aware of the matter said on condition of anonymity.

Dora the Explorer, is swinging back into action in a new CG animated series on Paramount+. The trailer for the upcoming show, featuring Dora's iconic adventures with her friends, has been released, stirring excitement among fans worldwide.

high-net-worth individuals, luxury hotel chains in India are expanding their branded residences portfolio to cater to a wealthy clientele seeking premium living experiences. Marriott International, the world's largest hotel and branded residences operator, and the leader in operating standalone branded residences, recently signed up its first JW Marriott-branded residences agreement in India at Hyderabad and is in the process of signing up more. Similarly, Hilton is «actively seeking avenues» to extend the presence of its luxury brands like Waldorf Astoria and Conrad in metros to create branded homes. India's EIH, which signed up with B I Luxury for the first such project in May 2022 under Trident Residencies, will have its apartments and penthouses possession-ready by October this year, Shashank Bhagat, chairman, BI Group, told ET. These standalone properties (not co-located within a hotel premises) boast of five-star amenities and range from ₹18 crore to ₹45 crore. Some of the owners include Sunil Kant Munjal, chairman, Hero Enterprise and Pai family of the Manipal Group.

By Tatiana Bautzer and Nupur Anand

In this article

nutraceuticals, health supplements and drugs in the same facility, said people with knowledge of the development. Under the revised Schedule M of Drugs and Cosmetics Act 1940, a manufacturing facility approved for drugs cannot be used for manufacturing other products. The Drugs Controller General of India (DCGI) has now directed the state authorities to take action against units that have licences to manufacture both drugs and food products and are flouting this norm, the people cited earlier told ET. According to the Federation of Pharma Entrepreneurs (FOPE), any clampdown in this regard will pose a significant challenge to the industry, affecting not only exports but also the domestic market. As per a recent notice by the DCGI, an enforcement and surveillance drive carried out by the Food Safety and Standards Authority of India (FSSAI) found that many units in Himachal Pradesh have dual licences under FSS Act 2006 and Drugs and Cosmetics Act 1940 for manufacturing nutraceuticals, health supplements and drugs in same factory.

GIFT City have reached out to the Reserve Bank of India (RBI) for consultations in setting up a dollar payment system mechanism that aims to bring about greater efficiency in transactions conducted in the US currency, sources aware of the developments told ET. «There are initial discussions about this matter because at present when a dollar transaction happens from one bank's nostro account abroad, it takes several hours for a subsidiary in GIFT City to receive the dollars,» one of the sources said. A potentially new dollar payment system could be akin to the existing Real-Time Gross Settlement System (RTGS), said the source.

NEW DELHI : India expressed concerns about the increasing use of unilateral trade protectionist measures being justified in the guise of environmental protection, at the World Trade Organization’s 13th ministerial conference that began in Abu Dhabi on Monday. Speaking at a session on sustainable development and policy space for industrialization, India’s commerce secretary Sunil Barthwal said the country has propagated a sustainable way of living as a key to combating climate change.

International tax treaties can be extremely confusing for the layman. That is because the provisions in such treaties are drafted in a very convoluting manner. And it is not just the layman who is confounded.

China’s C919 single-aisle jet made its international debut at the Singapore Airshow, attracting masses of visitors and hundreds of orders, but analysts say it still has a long way to go before it can compete with aircraft from market leaders Boeing and...

Germany's vice chancellor says the country plans to enable underground carbon storage at offshore sites, pushing ahead with a much-discussed technology in an acknowledgement that time is running out to combat climate change

Nagaland Governor La Ganesan on Monday emphasised that unresolved Naga Political issue is a major impediment to the state's development and welfare goals. Addressing the Nagaland assembly, the Governor called upon all stakeholders to transcend differences and work towards a final solution through dialogue and compromise, reaffirming his government's unwavering commitment to facilitating a peaceful resolution. He expressed appreciation for the members of the house for their steadfast dedication to achieving a peaceful and early resolution of the Naga Political Issue.