International Financial News

LONDON (Reuters) — The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.

(Reuters) — Google CEO Sundar Pichai told employees to expect more job cuts at the Alphabet-owned company this year, The Verge reported on Wednesday, citing an internal memo.

₹5,000 crore giant with 15-20% growth potential, needs a clearer regulatory framework to flourish," Tushar Bhandari, Whole Time Director, AABL, opined. Also Read | Alco-bev industry in tight spot over shrinking margins as states keep MRP constant: ISWAI's Nita Kapoor The alcobev industry currently faces a challenge where it pays Goods and Services Tax (GST) on the procurement of raw materials, packing materials, and services.

The Australian Government is actively considering the introduction of mandatory regulations for high-risk AI development. This move follows growing public concerns over the safety and ethical implications of rapidly advancing AI technologies, and publishers' demands for fair compensation for premium content used in AI training.

The International Monetary Fund (IMF) has issued a significant warning about the impact of Artificial Intelligence (AI) on the global job market. In a recent report, the IMF projected that nearly 40% of jobs worldwide could be affected by AI, with this figure rising to 60% in advanced economies like the UK​​​​​​.

IndiGo's Patna to Pune flight (6E-126) faced a substantial delay on Wednesday, leaving 162 passengers grounded for over three hours. The catalyst behind this delay unfolded as the first officer, steering the aircraft through foggy conditions at Jay Prakash Narayan International Airport in Patna, received distressing news of his grandmother's sudden demise. Amid preparations for takeoff, the first officer, grappling with the emotional upheaval, made the poignant decision to abort the flight.

Gem and Jewellery Export Promotion Council. During December 2023, the drop was to the tune of 9.04% to USD 2.19 billion as compared to USD 2.4 billion in December 2022. The overall import of gems and jewellery too has declined by 22.43% Y-o-Y, to USD 15.59 billion from USD 20 billion during April- December of FY24 as compared to the same period of FY23 and 7.58% to USD 2.09 billion, as compared to December 2022.

Prime Minister Narendra Modi on Thursday unveiled Commemorative Postage Stamps on Shri Ram Janmbhoomi Mandir and a book of stamps related to Lord Ram worldwide. The stamps feature various components, including the Ram Mandir, Choupai 'Mangal Bhavan Amangal Hari', the Sun, Sarayu River, and sculptures in and around the Temple. The collection comprises six stamps depicting Ram Temple, Lord Ganesh, Lord Hanuman, Jatayu, Kevatraj, and Ma Shabri.

Budget expectations: According to a report by the World Gold Council, India is the second largest consumer of gold jewellery in the world and the interim Budget with strategic moves can give the industry a shot in the arm. The World Gold Council report said much of the Indian gold market was very traditional, reflecting important cultural and religious ties. This can be seen in the long-standing preference for 22-carat jewellery and the dominance of bridal jewellery. But the gold market is evolving, with changing tastes and designs. In recent years, for example, demand has grown for lightweight and studded jewellery. These stones and jewellery are considered as the power, success, and reputation for the Indian women thus providing them social and economic security, the value of which can never be undermined. Also Read: A bold Budget can pave way for India to be Global South's voice Budget boost for India — a jewellery factory of the world India today is the factory for the world in jewellery segment and has potential to become the market for the world. The Gems and Jewellery industry has become one of the largest businesses in India, playing an important role in the Indian economy. If we consider the statistical data, it is seen that it contributes to almost 7% of the country’s total GDP, and 15.71% of India's total merchandise exports.

India is expected to surge to 300 million annually by 2030 from 153 million in 2023, Union Civil Aviation Minister Jyotiraditya Scindia said on Thursday. Speaking at the inaugural session of Wings India 2024, a civil aviation conclave and exhibition, Scindia also said the number of airports, and waterports will increase to over 200 from the existing 149 in the country.

Shashi Tharoor has continued his ongoing fight with the Civil Aviation Minister by demanding Jyotiraditya M. Scindia to drop his ego and seek an apology from the public concerning the flight crisis at the Delhi airport. Quoting Minister's post on social media platform 'X,' Tharoor said «It would be prudent for the Honourable Minister to apologise to them for the agony and distress that his Government has caused, enabled, and overseen rather than engage in .. Scindia had switched parties when he left the grand old party to join BJP in 2020.

Employees' Provident Fund Organization (EPFO) has announced on 16 January, that the Aadhaar card will NO LONGER be an acceptable document for date of birth. The EPFO, under the Ministry of Labour and Employment in the Government of India, notified the removal of Aadhaar Card as an acceptable document for date of Birth after a directive from the Unique Identification Authority of India (UIDAI). According to UIDAI’s Directive (Circular No.

Iran's attack on a terrorist group's headquarters within Pakistan, the conflict takes a significant turn as Pakistan retaliates. The strikes focus on Baloch separatist factions, namely the Balochistan Liberation Front and the Balochistan Liberation Army, intensifying hostilities. Expressing strong disapproval, Pakistan's Ministry of Foreign Affairs deemed the violation of sovereignty «completely unacceptable,» emphasizing the existence of communication channels between the nations.

quarter, helped by volume growth and a reduction in costs, said analysts. After clocking double-digit volume expansion in the first half of the year, growth of these companies in Oct-Dec is seen moderating to around 5-6% for most players due to elections in some states, a construction ban in the NCR region and shortage of labor. While the eastern region was an underperformer, northern markets have performed the best, followed by central India, Jefferies said in a pre-earnings note. Growth in Mumbai was average, while southern regions were weak in November-December, it said. Apart from the volume growth, a significant boost to earnings for cement-makers will come from a fall in input costs which is expected to be at its lowest level in seven quarters. Energy costs have seen a sharp decline with the average cost of petcoke down by nearly a fourth as compared to the previous year, while prices of international coal have plunged by more than 60%, Anand Rathi Shares and Stockbrokers said. While the surcharge charged by Railways will see freight costs inch up, the overall costs for cement makers is still seen lower, which along with a marginal improvement in realisations will help the operating profit grow by as much as 45-60% on year, said analysts. Operating margins, meanwhile, are seen almost 450-500 basis points higher as compared to the previous year.

The world’s biggest talk show is on: the World Economic Forum’s (WEF) 54th Annual Meeting at Davos began this Monday and ends on Friday. As in the past, this year too, the WEF conclave in the Swiss skiing resort, where they have been held for half a century, is being attended by a veritable who’s-who of business, politics and media.

News18. Recently, low-cost carrier SpiceJet announced that it is set to launch non-stop flights connecting Ayodhya with three Indian cities from February 2024. Spicejet flights will connect Ayodhya with Mumbai, Bengaluru, and Chennai from 1st February.

unicorns in India, or startups with valuation exceeding $1 billion, met with commerce and industry minister Piyush Goyal on Wednesday. The discussion focused on the growth trajectory of the Indian startup ecosystem, the role of domestic capital in nurturing and scaling startups and India's position in the international startup landscape.

Oil prices edged higher on Thursday as OPEC forecast relatively strong growth in global oil demand over the next two years and a cold blast in the U.S. disrupted some oil production. Brent crude futures gained 28 cents to $78.16 a barrel by 0004 GMT, and U.S.

Iran's strikes on the bases of a terrorist group in Pakistan, China has called on both sides to exercise restraint and avoid actions that escalate tensions. While addressing a regular press briefing on Wednesday, Chinese Foreign Ministry spokesperson Mao Ning said that China believes that the ties between the two nations should be handled based on basic norms governing international ties underpinned by the principles of the United Nations Charter.

Colliers International Group Inc., which says prime office values tumbled about 30% from their pre-Covid high in some of the nation’s major cities. “Given how deep prices have corrected, there are lots of bargain-hunting opportunities," said Jimmy Gu, a deputy managing director and co-head of capital markets and investment services at Colliers. “It all depends on buyers’ outlook for the economy." Grade-A offices in Shanghai and Beijing used to be sought after by global real estate funds, making them more attractive than those in New York and London.

Apple cannot sell two flagship Apple Watch models in the U.S. as the iPhone maker fights a legal battle over patents covering a blood oxygen measurement feature, a U.S.