International Financial News

Subscribe to enjoy similar stories. Giancarlo Devasini, one of the world’s newest billionaires, leads a reclusive life in this Alpine town. He stays in a modest apartment by the lake, strolls the cobbled streets with a black hoodie pulled over his head—and rages about the American rival he believes is trying to kill his business.

Subscribe to enjoy similar stories. Zoho Corp plans to make two artificial intelligence-based internal foundational models public by the end of the year, group chief executive officer Shailesh Davey said in an interview with Mint. The cloud software startup is also working on foundational models to support Indian languages, though it does not have a timeline on when they will be launched, Davey said.

Subscribe to enjoy similar stories. The National Financial Reporting Authority (NFRA) has moved the Supreme Court seeking affirmation that its internal structure complies with the law after a Delhi High Court order last month quashed notices sent to auditors of two IL&FS group entities—Deloitte Haskins & Sells LLP and SRBC & Co.

Sudarshan Chemical Industries (SCIL) is expanding its international footprint as part of its growth strategy, with an aim to strengthen its position in the global pigment industry, managing director Rajesh Rathi told ET. «Europe and Americas are going to be our areas where we would like to grow more,» Rathi said. «If you look at legacy of Sudarshan, our largest market was India, but as now our largest market would be Europe,» Rathi added.

Samsung India, Mobile Experience, Vice President, Aditya Babbar said the new A series devices would be made in India. «As per Counterpoint Research, there are 89 million happy customers on A series. We are targeting greater than 100 million devices in A series this year,» he noted. Babbar said that according to Counterpoint Research, last year, Samsung was an absolute leader in the price segments of Rs 25,000-35,000 and Rs 35,000 to Rs 50,000 in which Galaxy A56 and Galaxy A 36 are being launched, and the company expects to maintain that trend.

Radisson Hotel Group said on Monday its strategy is to have 240 hotels in operation and under development in India by end of 2025, driven by a strategic focus on tier 2 and 3 markets and the increasing demand for luxury lifestyle and midscale accommodations. Headquartered in Belgium, the chain is one of India’s largest international hotel operators, with currently a robust presence of over 194 hotels in operation and development across 114 destinations. «As a global hospitality leader, we are committed to deepening our ties between Belgium and India, two nations united by a shared vision for growth and collaboration,» said Nikhil Sharma, managing director and area senior vice president, South Asia, Radisson Hotel Group.

India Inc is investing heavily in an artificial intelligence (AI)-ready workforce. Companies such as Wipro, Genpact and Ericsson are creating personalised AI training programmes for employees, partnering with universities, setting up skilling academies and enhancing internal learning platforms to build a future-ready workforce. At Wipro, more than 55,000 employees have become advanced AI practitioners, and at Genpact, 60,000-70,000 employees dedicate eight to nine learning hours each month on new-age skills like AI.

DIAL has launched the UTAM system that will help reduce delays, improve turnaround time and also track the speed of all airside vehicles to check for any violations, among other elements. Leveraging Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and radar systems, the Unified Total Airside Management (UTAM) will collect data, help identify issues or delays and trigger alerts to prevent problems before they happen, according to a release. The Delhi International Airport Ltd (DIAL) has established a centralised control room to monitor and manage all activities, and the UTAM will track all airside vehicles such as baggage carts, fuel trucks and maintenance vehicles, in real-time. Generally, airside operations refer to those activities related to an aircraft, including take-off, landing, parking and refuelling. Multiple stakeholders, including ground handling service providers are involved.

Infosys for the mass termination of trainees, seeking immediate intervention of two central ministries, the Education and the Skill Development & Entrepreneurship ministry. “NITES…seeks your urgent intervention in a grave matter concerning Infosys Ltd’s blatant violation of The Apprentices Act, 1961, and The Apprenticeship Rules, 1992,” advocate Harpreet Singh Saluja, president of NITES, told union education minister Dharmendra Pradhan, in a letter reviewed by ET. This comes days after the Karnataka labour department found no violations of labour laws by the Bengaluru-headquartered IT company in the layoffs of over 300 trainees. Infosys terminated these workers claiming that they had failed to clear three rounds of an internal assessment programme.

Champions Trophy on Tuesday. India have stuck to their position of not touring Pakistan because of the strained political relations between the Asian neighbours, who play each other only in global events. The International Cricket Council (ICC), headed by former Indian board secretary Jay Shah, has drawn flak for allowing India to play all their matches in Dubai and getting what many consider an unfair advantage.

Subscribe to enjoy similar stories. The deal President Donald Trump and Ukrainian President Volodymyr Zelensky are expected to sign Friday hinges on a bullish view of Ukraine’s critical mineral wealth. Both parties have reason to project optimism.

Why lab-grown diamonds are cheaper To understand the pricing, we compared both categories. A natural 1-carat solitaire of SI clarity set in 18-carat gold costs Rs.2-3 lakh in a branded jewellery store like BlueStone. Meanwhile, a similar lab-grown version with VS clarity is available for Rs.1.12 lakh, less than half the price. The disparity grows with size. At Orra, a 1.5-carat loose natural diamond of SI clarity can cost Rs.7.55 lakh, while a better quality VS1 clarity natural diamond’s price jumps to Rs.11.45 lakh. On the flip side, a flawless 1.5-carat lab-grown loose diamond costs just Rs.45,000 per carat.

Subscribe to enjoy similar stories. Rising compliance burden, digital transformation and growing deal activity are expected to drive India Inc.’s legal expenses past the ₹60,000-crore mark in the ongoing financial year. “We project Indian companies' aggregate legal expenses for FY25 to jump 15%–18% from FY24," said Ritvik Lukose, co-founder and chief executive officer (CEO) of Vahura, a compliance and governance-focused search and advisory firm.

Academy of Motion Picture Arts and Sciences (AMPAS) enforces a rigid framework that determines which movies make the cut for the coveted nominations. As the 97th Academy Awards approach, the stringent guidelines continue to spark heated debates, especially with the rise of streaming platforms.

Enforcement Directorate (ED) is investigating if there's a foreign link to a multi-thousand crore fraud allegedly committed by an IT company headquartered in Noida. The agency has thus far identified proceeds of crime to be ₹3,558 crore, generated by Vuenow Marketing Services Ltd (VMSL) and its entities. In a breakthrough, the federal agency Saturday arrested Sukhvinder Singh Kharour, CEO of the company, and his wife Dimple Kharour. The agency said that the duo was trying to fly out of India, however an active look out circular (opened against them at the behest of the agency) helped detain the duo at the Indira Gandhi International Airport after the Bureau of Immigration tipped off the federal agency sleuths. Interestingly, Sukhvinder claimed before the court that he and his wife were arrested from Nepal at 8 am on February 28. The court found Sukhvinder's claim «devoid of any merit» and granted ED ten days of custodial interrogation.

Pakistan cricket captain Inzamam-ul-Haq has urged international cricket boards to boycott the Indian Premier League (IPL) in response to the ongoing Champions Trophy venue controversy, echoing concerns raised by Saqlain Mushtaq. Earlier, former Pakistan spinner Saqlain Mushtaq also criticised the Board of Control for Cricket in India (BCCI) over the ongoing Champions Trophy venue controversy, in which the India Team has been playing all its matches in Dubai in a hybrid mode after it refused to travel to Pakistan due to security concerns. The dispute gainted traction after former English player and cricket experts Nasser Hussain and Mike Atherton highlighted that India gained an 'undeniable' advantage by playing all their matches at a single venue in Dubai.

West Indies cricket legend Vivian Richards has urged his national team to take inspiration from Afghanistan's rise in world cricket, highlighting their passion, energy, and determination. His comments come as West Indies cricket continues to struggle, having missed out on both the 2023 ODI World Cup and now the Champions Trophy. Once a dominant force in the sport, the team has faced setbacks due to inconsistency. On the other hand, Afghanistan has been on the rise, putting up one surprising performance after the other, having beaten Pakistan, New Zealand, and Australia within the last 2 years. Continuing its recent trend, it again shocked England in the ongoing Champions Trophy defeating them by 8 runs, ending the team's campaign in the tournament.

Viv Richards hailed Indian batting icon Virat Kohli, who plays his 300th ODI against New Zealand in the ongoing ICC Champions Trophy, saying that the 36-year-old reminds him of himself and his energy and fitness are standout features of his game. Virat became the seventh player from India to play 300 ODIs during India's final league stage match against the Kiwis in the ICC Champions Trophy. His 300th ODI ended with an unremarkable outing with the bat, as he could score just 11 runs off 14 deliveries, In 300 ODIs, Virat has scored 14,096 runs at an average of 58.00, with 51 centuries and 73 fifties. His best score is 183. He is the third-highest run-getter in ODIs, next to Kumar Sangakkara (14,234 runs in 404 matches with 25 centuries) and Sachin Tendulkar (18,426 runs in 463 matches with 49 centuries). He also has the most centuries in ODIs.

Karnataka Deputy Chief Minister D K Shivakumar's criticism of the Kannada film industry, especially actors, over their low turnout at the inauguration of the 16th Bengaluru International Film Festival has sparked sharp reactions from opposition parties. Addressing the gathering on Saturday, he also lashed out at the film industry for not supporting him and Chief Minister Siddaramaiah when they were in the opposition, particularly in their campaign for the Mekedatu project, which aimed to provide drinking water to Bengaluru and surrounding areas. «At today's event, only ten of you among the prominent faces are present. This is not Siddaramaiah's (CM) or D K Shivakumar's private event, nor is it a family function of actors Sadhu Kokila and Kishore. This is an industry event. If actors, directors, and producers don't attend, who else will?» Shivakumar, who claimed himself as a film exhibitor, asked. Referring to actor Shivarajkumar's earlier speech, he said, «Shivarajkumar mentioned that the film festival is like a family festival for the industry. But if this sentiment is not shared by other actors, producers, and directors, then what is the point of hosting an international film festival?»

Subscribe to enjoy similar stories. New Delhi: When the government announced the production-linked incentive (PLI) scheme for semiconductors in 2021, with an outlay of around $10 billion, it was perhaps fitting that it was the largest of all schemes to promote hi-tech manufacturing in India announced by the government. The world over, governments love semiconductors, as a target for industrial policy.

Subscribe to enjoy similar stories. SOON AFTER he took power in 2012, Xi Jinping urged caution about China’s prospects. “The further our cause advances," he told fellow leaders, “the more new situations and problems will arise, the more risks and challenges we will face and the more unforeseen events we will encounter." As China’s economy flounders and social tensions increase—and with Donald Trump about to enter the White House—the coming year will be full of the kind of difficulties Mr Xi feared.