International Financial News

Also Read: ‘Oil markets well supplied’, says IEA as it raises 2024 global demand forecast; projects lower than OPEC The premium of the first-month Brent contract to the six-month contract rose to as much as $2.15 a barrel on Friday, the highest since November. This structure, called backwardation, indicates a perception of tighter supply for prompt delivery. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a February 16 expiry, settled 0.28 per cent higher at ₹6,045 per bbl, having swung between ₹6,084 and ₹6,213 per bbl during the session, against a previous close of ₹6,106 per barrel.

BSE Sensex which posted its worst week in over two months. The broader indices comfortably achieved weekly gain of over one per cent, driven by a sharp rally by railway public-sector undertaking (PSU) stocks. The frontline indices grappled to gain momentum this week amid global uncertainties and lacklustre earnings by major companies so far.

Kenyan citizen with drugs worth Rs 26 crore at the Kempegowda International Airport here. The woman was set to travel to Delhi with 2.56 kg of cocaine when the DRI sleuths nabbed her on a tip-off on January 15.

Mahantesh Sabarad, Independent Market Expert, says “most of the banks, like I have told you before, now have a problem related to growth because the deposit growth, which was lagging in the past, has caught up for the past three-four months but is not enough. That means that the growth on the advancing side is going to be constrained.” What is your first sense on the numbers, the profitability is a smidge lower. But if I am looking at other internals, they do not look too bad. What's your initial take? Mahantesh Sabarad: I have not been able to look at NPA numbers, let me know, because that was what was a little crucial for them to look at. And from a perspective of growth, which is the advances growth, I do not think they have achieved a great number. The net NPA percentage has come down to 0.34 versus 0.37 last quarter and net NPA stands at 1.73 versus 1.72. So there is a smidge of, you know, decline in gross NPA, but net NPAs have actually improved. Mahantesh Sabarad: I have been able to read it from a stand-alone perspective. So there is not much in terms of a material improvement in the asset quality for them. What was expected is that they were working on the asset quality related issues but that does not seem to have come down for them. As far as the top line, which is the NII is concerned, it suggests that the NIMS are steadier for them. So the result seems to be alright. But the NPAs are a little worry.

Since its formal iteration by Prime Minister Modi at the Shangri-la dialogue in 2018, India’s Indo-Pacific policy has undergone transformative changes. Almost six years down the road, today, it is not only seen as an ambitious outreach campaign but also a tool for India’s strategic recalibration with Indo-Pacific countries. Navigating systemic and strategic constraints, a rising power India has made good attempts in both making friends and alliance building, as well as in managing intense rivalries with China and Pakistan. From a Valluvarian perspective, adeptness at balancing the complexities of super power competition and regional conflicts, can be seen as the essence of India’s Indo-Pacific gambit.

Rail Vikas Nigam and Indian Railway Finance Corporation (IRFC), locked in 10% upper circuit limit in today's trade, while another railway PSU, Ircon International, soared by an additional 15%, touching a new all-time high of ₹261.35 apiece. Railway PSUs have been on an upward trajectory since the government announced a substantial capital outlay of ₹2.40 lakh crore for the Indian Railways in the Union Budget 2023-2024. This marked the highest-ever outlay, approximately nine times the investment made in 2013–14.

railway stocks as they continue to move on the fast track ahead of the 2024 Budget. Ircon International was the leader in the pack on Saturday, gaining 15% while hitting a fresh 52-week high.

Madhya Pradesh Congress's disciplinary committee has issued show cause notices to nearly 150 local leaders for allegedly engaging in «anti-party» activities during the November 2023 state assembly polls. The committee issued the notices on Friday, giving the leaders 10 days to respond, failing which strict action including expulsion from the party would be initiated, according to a senior party functionary.

Ram Temple in Ayodhya on January 22, the world's largest lock, weighing 400 kg, and 1,265 kg of laddu Prasad reached Ayodhya on Saturday. Both are offerings to the temple. While the lock is from Aligarh, the ladus are from Hyderabad. But what is in common between the two is the devotion of the people associated with them to Lord Ram. The laddu prasad was made by Sri Ram Catering Services in Hyderabad.

IRCON International soared 15 percent in intra-day deals today to its new high of ₹261.35 followed by Rail Vikas Nigam (RVNL), which has rallied 10 percent to its record high of 320.75. Meanwhile, IRFC (Indian Railway Finance Corp) surged 9.7 percent to its new peak of ₹176. RailTel jumped 8 percent to its all-time high of ₹417.80 and IRCTC advanced 4.7 percent to its 52-week high of ₹1,029.85.

Walt Disney and Mahindra group officials have joined the Board of Directors of US India Strategic and Partnership Forum, which the organisation said is testimony to the success story of American companies in India and a growing presence of Indian conglomerates in the US. The two officials are Dorothy Attwood, senior vice president of Global Legal, Policy and Compliance for The Walt Disney Company, and Amarjyoti (Amar) Barua, Executive Vice President (EVP) of Group Strategy at the Mahindra Group to the Board of Directors, the US India Strategic and Partnership Forum (USISPF) said in an announcement. Attwood, in her current role, is responsible for the company's international legal and government affairs functions around the world, outside of the US, and leads strategic public policy initiatives as well as ESG and Sustainability globally across all business segments.

Airtel, Jio square off against Elon Musk in India's satellite broadband race "Starlink replied to the Department for Promotion of Industry & Internal Trade, and in next few days or by the end of this month, the Department of Telecommunications (DoT) may issue a Letter of Intent (LoI) to Starlink," ET Telecom quoted a source as saying. Meanwhile, a Moneycontrol report, citing sources, noted that the Department of Telecommunications (DoT) could issue a letter of intent (LoI) to Starlink as early as Wednesday.

PPP) Chairman Bilawal Bhutto-Zardari on Friday refuted any chances of forming a coalition with Pakistan Muslim League-Nawaz (PML-N) after the February 8 general elections. Notably, the PPP and PML-N were major partners in the Pakistan Democratic Movement's (PDM) 16-month government that was formed after overthrowing the Imran Khan-led Pakistan Tehreek-e-Insaaf (PTI) government in April 2022.

oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S.

Valve's upcoming handheld console, the Steam Deck 2, set to allegedly release in 2026. Despite Valve's silence, speculations on its specifications, price and benchmarks have started circulating.

Canadian cities need to relax their zoning policies if they want to tap into billions in federal funds available for new home construction. That was one of the messages delivered by Sean Fraser, the federal minister of housing, to a lunchtime audience at the Empire Club of Canada in Toronto on Jan. 17. Here are three key take-aways from the event.

, there will be no flight arrivals or departures from 10.20 am to 12.45 pm every day till January 26 in connection with the Republic Day preparations and celebrations, an official said earlier in the day. In a statement, the airline said that due to flypast rehearsals for the Republic Day parade, airspace restrictions have been imposed around Delhi airport from January 19 to January 26.

1. Samsung Galaxy S23 FE 5G The Samsung Galaxy S23 FE 5G is a stellar choice for tech enthusiasts. Its Dynamic AMOLED 2X display and HDR10+ support offer an immersive visual experience, while the robust Gorilla Glass 5 ensures durability.

Remarkable Alexa. Amazon has already initiated testing with 15,000 external customers, seeking to provide more conversational interactions and a deeper level of customization, adds the report. However, employees who have had early access to the service have voiced concerns about its current performance.

Zee Entertainment Enterprises (ZEE) on Friday said that it is not aware of any board meeting of Sony Pictures, where it was expected to seal the fate of a $10-billion merger deal. «The company is not aware of, and cannot comment on, any board meeting held or proposed to be held by Culver Max Entertainment Pvt Ltd (formerly Sony Pictures Networks India Private Limited), given that these are internal matters of Sony,» Zee said in a filing. Punit Goenka-led Indian media giant reiterated that it is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger. Earlier today, multiple media outlets reported that a board meeting of Sony was scheduled on Friday to take a call on the merger deal with Zee. «Two key meetings are set to be held back-to-back. Culver Max Entertainment is likely to hold a board meeting on Thursday night, followed by Sony at its Tokyo headquarters,» an ET report noted. Reacting to the media reports, Zee said it is engaging in good faith negotiations with Sony with a view to discuss the extension of the date required to make the scheme effective, by a reasonable period of time. Zee and Sony agreed on a merger two years ago, but the proposed deal hit a brick wall after Sony expressed inhibitions about Goenka running the combined entity. It was expected that the deal would be completed within the stipulated deadline of December 2023.

Investing.com — Oilfield services giant SLB (NYSE:SLB) has reported fourth-quarter profit that topped analyst estimates and bumped up its dividend.