International Financial News

Radisson Hotel Group said on Wednesday it has 'accelerated' its growth in India by signing 21 hotels in 2023, under its portfolio of nine brands. The chain said it has marked its foray into the South Asian luxury market by signing the first Radisson Collection in India. The group also announced the signing and opening of the first internationally branded hotel in Ayodhya, the Park Inn by Radisson Ayodhya.

Shipping Corporation of India share price while has gained around 85% in last one year, Great Eastern shipping company share too has gained almost 65% during the period. Essar Shipping however has seen its stock prices grow three folds. The overall outlook has improved for shipping companies regularly post Covid followed by geographical uncertainties.

tourists arriving in Bali to preserve the culture of the "Island of Gods", news agency AFP reported. Domestic tourists, diplomatic visa holders and ASEAN nationals are exempted from the tax. The government is trying to capitalise on the popularity of Bali which attracts millions of foreign visitors annually to boost its coffers and protect its tropical allure.

Deflation in the core wholesale index and a decline in food prices pushed wholesale inflation to a three-month low of 0.27% in January compared with 0.73% in the previous month, according to data released Wednesday. “Contrary to expectations, the WPI inflation eased to 0.3% in year-on-year terms in January 2024 from 0.7% in December 2023. This was largely led by the WPI-food and core (manufactured non-food products) items, with the latter remaining in the deflationary zone for the eleventh straight month,” said Aditi Nayar, chief economist, Icra. Sequentially, the wholesale price index was down 0.3%, with the food index declining 1% and manufactured products continuing its deflation for a second consecutive month. Prices of manufactured products in January were down 1% sequentially as well.

Narendra Modi on Wednesday said India brings talent and innovation to the table and the International Energy Agency (IEA) will benefit if the world's fastest growing major economy plays a bigger role in the Paris-based organisation. In a recorded message for the ministerial meeting of the IEA, he said India has surpassed its Paris climate targets ahead of schedule and remains firmly committed to addressing the global issue. Prime Minister Modi said India's carbon emissions account for only four per cent of the global total despite it being home to 17 per cent of the global population and undertaking some of the world's largest energy access initiatives. Congratulating the IEA on its 50th anniversary, the prime minister said, «I am sure that the IEA will benefit when India plays a bigger role in it.»

green energy initiatives, Cochin International Airport Ltd (CIAL) has entered into a Memorandum of Understanding (MoU) with the Bharat Petroleum Corporation Ltd (BPCL) for setting up a green hydrogen plant in the premises of Cochin Airport. This collaborative effort will result in the world's first green hydrogen plant and fueling station located within an airport setting, CIAL said in a statement on Wednesday. Green hydrogen, produced from water using renewable energy sources, is recognized as a future fuel and aligns with zero-carbon energy strategies, it said. The agreement exchange ceremony for the green hydrogen plant was held at Legislative Complex, Thiruvananthapuram in the presence of Kerala Chief Minister Pinarayi Vijayan who is also the chairman of CIAL, the statement said. «As pioneers in sustainable aviation, CIAL is happy to start a groundbreaking journey with BPCL towards establishing the country's first green hydrogen plant in an airport,» CIAL Managing Director, S Suhas IAS is quoted as having said in the statement. He also said that this strategic collaboration underscores CIAL's commitment to green energy and propels closer towards a zero-carbon future in the aviation landscape.

Modi emphasized the importance of inclusive and corruption-free governance on Wednesday, stating that such leadership is crucial in the contemporary world. Speaking at the World Governments Summit during his visit to the UAE, PM Modi reiterated his longstanding principle of 'minimum government, maximum governance'. He highlighted the growing trust of the Indian populace in the government's integrity and dedication over the past few years. «People have trust in the intent and commitment of the Indian government. This was possible only because we prioritized public sentiments,» Modi stated during his address.

UPI payments are accepted in France, UAE, Singapore, Bhutan, and Nepal. After the announcement, MyGovIndia shared a world map, highlighting the countries where Indians can use UPI to make payments. UPI is India's mobile-based fast payment system, allowing customers to make instant payments round-the-clock using a Virtual Payment Address (VPA).

Deepika Padukone, 38, will be presenting an award at the 77th British Academy of Film and Television Arts (BAFTA) Awards scheduled for February 18 evening. The confirmation of her role as a presenter came when she shared the list of presenters on her Instagram story, expressing her gratitude. This will not be her first international awards outing.

Radisson Hotel Group on Wednesday said it has accelerated its growth in India by signing 21 hotels under a portfolio of nine brands in 2023. These 21 hotels also include the signing and opening of the group's first property at Ayodhya, in Uttar Pradesh — Park Inn by Radisson Ayodhya, as the destination gained a lot of national and international attention following the consecration of the Ram Temple last month, Radisson group said in a statement. In India, the Group continues to enjoy a first-mover advantage in the country's key pilgrim destinations. It will soon introduce branded hotels in Vrindavan in Uttar Pradesh and Ujjain in Madhya Pradesh, the statement added. Globally, Radisson Hotel Group added over 30,000 keys to its international portfolio.

The fund house informed investors about this through a notice-cum-addendum dated February 13. The changes are effective from February 14. Aditya Birla Sun Life International Equity Fund is an open-ended equity scheme following an international theme by investing predominantly in Global Equities.

Japanese automaker Daihatsu has named a veteran at its parent company Toyota to replace its president as it tries to repair the damage from a scandal over cheating on vehicle safety tests

A man who managed two forestry projects in Guatemala for a New Hampshire-based investment company has pleaded guilty in federal court to stealing $10 million from the business

Mint. This is significant development, given India plays a crucial role in the G20 as part of the leadership trio, including Brazil and South Africa, tasked with steering the organization's discussions and decisions throughout the year. The G20 meeting is set for 21-22 February, directly overlapping with the Raisina Dialogue, scheduled for 21-23 February.

Airbnb forecast first-quarter revenue above Wall Street estimates on Tuesday, as it expects a boost from strong cross-border travel and longer-duration bookings. International travel demand is expected to remain strong this year as global air connectivity increases and travelers flock to Asian and Latin American countries, while domestic travel demand plateaus in North America.

By Svea Herbst-Bayliss

ETF issuers sure were active in 2023 – especially when it came to actively managed funds.

Israeli ground invasion of Rafah in the Gaza Strip, saying an offensive could «lead to a slaughter» in the southern region of the Palestinian enclave where more than 1 million people are sheltering. Israel says it wants to flush out Hamas militants from hideouts in Rafah and free Israeli hostages being held there, and is making plans to evacuate trapped Palestinian civilians. «Military operations in Rafah could lead to a slaughter in Gaza. They could also leave an already fragile humanitarian operation at death's door,» said U.N. aid chief Martin Griffiths. «We lack the safety guarantees, the aid supplies and the staff capacity to keep this operation afloat.

United States, the UK and Guam on Tuesday. Picketing members included cabin crew from 24 airlines including Alaska, Southwest Airlines, United Airlines and American Airlines. Shares of Alaska Air fell 2.1% in afternoon trade.

PM Modi. He also noted that the strong ties between the two nations serve as a model for international cooperation. PM Modi is set to participate in the World Government Summit 2024 which will be held in Dubai as a Guest of Honour and deliver a special keynote address at the Summit.

Quiver Quantitative — The Democratic-controlled Senate's recent passage of a $95.3 billion aid package, heavily backed by President Biden, represents a significant moment in the United States' foreign policy landscape. This comprehensive package, earmarking substantial funds for key allies including Israel and Taiwan, showcases a concerted effort to assert a robust American presence on the global stage. However, as this legislative victory unfolds, it encounters a complex web of political challenges, particularly with the bill's forthcoming battle in the GOP-dominated House. Speaker Mike Johnson's call for modifications, potentially reviving border security debates, underscores the intricate balance between international support and domestic policy priorities.