International Financial News

Indian Railway Finance Corporation (IRFC) plunged over 10% to Rs 137 in Monday's trade on BSE after the firm reported a 1.7% year-on-year (YoY) decline in its net profit to Rs 1,604 crore in the December quarter of FY24. The company had reported a net profit of Rs 1,633 crore in Q3 FY23. Its revenue from operations, however, rose 8.43% to Rs 6,742 crore in Q3 FY24 as against Rs 6,218 crore in the corresponding period last fiscal.

Buy or sell stocks for today: After witnessing a sharp sell-off on Thursday, the Indian stock market shifted into a sustainable upside bounce from the lows and closed higher on Friday. The Nifty 50 index gained 64 points and closed at the 21,782 level, the BSE Sensex went up 167 points and closed at the 71,595 mark while the Nifty Bank index shot up 622 points and finished at the 45,634 level.

kiwi dollars were subdued in holiday thinned trade on Monday, while traders looked ahead to a central bank speech in New Zealand that could make or break market bets for another hike given the huge shift in market pricing last week. Most of Asia including China, Hong Kong, Japan, South Korea, Singapore, Taiwan, Vietnam and Malaysia are closed for holidays.

Amazon Seller Services, the entity that runs the Amazon marketplace in India, said its US parent infused Rs 830 crore into the company. Amazon Seller Services said it allotted 830 million equity shares to Amazon Corporate Holdings Ltd and Amazon.com.inc as part of the fund infusion.

(Reuters) — Shares of New Zealand's SkyCity Entertainment slumped the most in nearly two months after the casino operator said its ‍Skycity Casino Management Ltd (SCML) unit will face a proposed lawsuit for alleged breaches anti-money laundering laws.

Imphal confiscated 19 gold biscuits worth over Rs 1.99 crore from two persons at Imphal International Airport on Sunday. Acting on a reliable source, officers of the anti-smuggling unit of the division moved to the airport’s departure terminal where security staff of Indigo Airlines detained the two, said a statement issued by the division’s deputy commissioner, Rajivkumar Yengkhom. The two have been identified as A Minaketan Sharma of Bhrahmapur Aribam Leikai in Imphal East district and Maibam Priyobrata Singh of Nambol Kongkham Makha Leikai in Bishnipur district.

Coveted worldwide for their style, design and durability, but shut out of the Indian market over quality rules: That’s the paradox facing French luxury brands like Louis Vuitton, Dior and Christian Louboutin trying to sell their exquisite footwear in India. Footwear imports by these brands and others have faced hurdles after the government’s quality rules mandating the application of BIS standards for imported footwear, including embossing ISI marks on all footwear sold in India took effect in July 2023, three people aware of the matter said. Under the quality control order (QCO) on footwear, no company can manufacture, import, distribute, sell, hire, lease, store or exhibit any product in the country without the ISI mark.

By Dylan Martinez

President Volodymyr Zelenskyy has replaced General Valerii Zaluzhnyi as the head of Ukraine's armed forces, marking a significant shift in the country's military leadership amid ongoing tensions with Russia, reported CNN. Speculation was rife for over a week before Zelenskyy's announcement on February 8, reflecting the strained relationship between him and Zaluzhnyi over recent months. The change comes at a crucial moment in the war with Russia, with Ukrainian units facing challenges along various fronts, particularly in the Donetsk and Kharkiv regions. Shortages of ammunition and experienced personnel have added to the complexities faced by Ukrainian forces, as per CNN.

Reliance General Insurance Company Ltd made a Rs 118 crore provision in the quarter ending December 2023 to provide a one-time incentive to the senior officials of the company, a move opposed by the administrator of parent Reliance Capital, said people with knowledge of the matter. Reliance Capital is undergoing corporate insolvency, and Reliance General Insurance is its wholly-owned subsidiary and one of the biggest attractions for buyers among the 20 financial companies under its ambit. Lenders have unanimously voted for the Rs 9660 crore resolution plan given by Hinduja group's holding company IndusInd International Holdings Ltd, and this is pending approval from the National Company Law Tribunal (NCLT).

Muthoot Finance, Siemens, Hindalco Industries will be revealing their results this week. The earning season commenced in January with technology giants Infosys and TCS setting the initial tone.

The Dartmouth men’s basketball team has scheduled a March 5 election to determine whether the players will unionize

Mint takes a look at the world's largest centres of international traffic, the benchmarks set by the world's busiest airports, and the key factors that drive their efficiency. An airport hub is characterized by a concentration of air traffic and flight operations. These airports act as transfer points for passengers to reach their final destination.

Raymond T Dalio, Founder, CIO Mentor, says “avoid indebtedness, debt assets, minimize the debt assets and then to diversify into various locations. No one asset class, no one country, no one currency should be concentrated in because of the nature of that. So, look at those good places and then look for good leadership. Dalio further says: “Should the United States weaken its currency status, other countries also will have weaker currencies and then there would be an emergence of alternatives such as most importantly likely gold or currencies that tend to depreciate together. If you have a lot of debt and the United States has a lot of debt that most importantly results in a lot of sales of debt, that money probably has to be printed. For the US dollar to lose its status relative to other countries would require another currency to become dominant. You always look at the world based on five factors – economy and credit, internal peace and conflict, external issues between countries, climate change and technology. If you have to look at the mechanics of the world, rather than giving an audience a fish to eat, if they have to know the trick of how to catch the next fish, how would you put your thoughts into play and explain some of these pointers, the number one being economy and credit? Raymond T Dalio: Yes, you are right.

Social media has been flooded with complaints of how people are being coerced into using the Digi Yatra app, which uses facial scanning biometrics. Is it really risky? And what do the stakeholders have to say about it? Suraksha P finds out. Akshay Gupta recently posted on social media platform X (previously Twitter) that he was denied entry at the Varanasi airport because he “did not follow the Digi Yatra lane”.

Indian space sector is changing from a «closed» and «secretive» society to an open one and the objective behind it is to turn it into an economic or business activity instead of government programme, ISRO Chairman S Somanath said here on Saturday. The change in mindset has been influenced by how space-related activities in countries like the USA have been turned into an economic activity, Somnath said while speaking at the Mathrubhumi International Festival of Letters (MBIFL) 2024 being held at Kanakakunnu Palace here. The ISRO Chairman said that in the past 60 years, the work of the space sector — from making rockets to satellites — was aimed at societal application, for delivering services that benefit the common man. As a result, the budget of the space programme was «very less» — Rs 10,000 crore, he said during a session of the fifth edition of the MBIFL.

A Ramachandran died from prolonged illness at his residence here on Saturday. He was 89. «He was sick for quite some time now and passed away at 9 this morning from medical complications,» his son Rahul told PTI. Ramachandran will be cremated at Lodhi Road crematorium on Monday at 2.30 pm, he added.

While the main event will take place on February 18, Sunday, Daytona 500 will commence on Wednesday, February 14. On Wednesday, February 14, Daytona 500 qualifying will begin at 8.15 pm (ET), as per a report in Autosport.

Dividend Stocks: Shares of several companies, including Nestle India, Power Grid Corporation of India, Oil & Natural Gas Corporation (ONGC), IRCON International and many others will others will trade ex-dividend in the coming week, starting from Monday, February 12. Some other companies will also trade ex-bonus and ex-rights in the coming week. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout.

electric vehicles and EV Battery Manufacturing Project. This ambitious initiative will unfold across two cities in Odisha.

called for a probe against the Pakistan Army for its alleged involvement in the “rigged" election. Check which US lawmaker said what. I am deeply troubled by reports of interference in this week's election in Pakistan.