President Financial News

Mandir in Abu Dhabi is witnessing an overwhelming influx of people, resonating with enthusiastic «Modi-Modi» chants, as they eagerly await the historic inauguration ceremony by Prime Minister Narendra Modi today. As the first Hindu temple in Abu Dhabi, the BAPS Mandir has become a focal point of cultural and spiritual significance, drawing devotees from various corners. The atmosphere is charged with excitement as the faithful gather in huge numbers to witness the culmination of years of dedication and hard work that have gone into the construction of this magnificent temple.

Assam Chief Minister Himanta Biswa Sarma on Wednesday said two Congress MLAs, Kamalakhya Dey Purkayastha and former minister Basanta Das, have decided to "join the government". Sarma welcomed both the legislators at the chief minister's chamber inside the assembly complex while the Budget session of the House was in progress. Purkayastha, who has been with the Congress for several decades since his NSUI days, was elected from the Karimganj North constituency in 2021. Das was a former minister in Tarun Gogoi's government and had won the assembly polls from Mangaldoi seat in 2021.

Congress on Wednesday nominated its former party chief Sonia Gandhi and senior leaders Ajay Maken and Abhishek Singhvi for the Rajya Sabha election to be held on February 27. Gandhi, who was accompanied by her son Rahul Gandhi and daughter Priyanka Gandhi Vadra besides former Rajasthan chief minister Ashok Gehlot, filed her nomination papers in Jaipur. The 77-year-old former Congress president is set to enter the Upper House for the first time from Rajasthan. Gandhi will fill the seat that will fall vacant in April after former prime minister Manmohan Sigh completes his Rajya Sabha tenure. Party treasurer Maken has been fielded from Karnataka and Abhishek Singhvi from Himachal Pradesh. The party has its government in both states. Maken had unsuccessfully contested the Rajya Sabha election from Haryana last year.

NEW DELHI : The Sixteenth Finance Commission (SFC), whose members were appointed last month, held its first meeting on Wednesday to discuss the terms of reference and other matters, the finance ministry said in a statement. The SFC acknowledged the need for wide-ranging consultations with various stakeholders, including state governments, local bodies, Union ministries, and experts, the statement said.

16th Finance Commission (XVI-FC) on Wednesday held its first meeting under the Chairmanship of Arvind Panagariya here. During the meeting, the commission discussed its Terms of Reference, as per the order by the President of India and notified by the Ministry of Finance on December 31, 2023, an official statement said. The distribution between the Union and states of the net proceeds of taxes, which are to be, or may be, divided between them under Chapter I, Part XII of the Constitution and the allocation between states of the respective shares of such proceeds, are among the Terms of Reference (ToR) approved by the Cabinet. Another ToR is about the principles governing the grants-in-aid of the revenues of states out of the Consolidated Fund of India and the sums to be paid to states by way of grants-in-aid of their revenues.

Narendra Modi on Wednesday met his UAE counterpart Sheikh Mohammed bin Rashid Al Maktoum, and discussed a wide range of areas of bilateral cooperation including trade and investment. «Strengthening India-UAE Comprehensive Strategic Partnership! PM @narendramodi met VP & PM of UAE @HHShkMohd in Dubai. Discussions covered a wide range of areas of bilateral cooperation including trade & investment, technology, education, and people-to-people ties,» said a post on the official X handle of the Ministry of External Affairs (MEA). In another meeting with Madagascar President Andry Rajoelina, Modi reaffirmed India's commitment to further strengthen India-Madagascar partnership and help in the developmental journey of his island nation. A first meeting between the two leaders, Modi and Rajoelina met on the sidelines of the World Governments Summit here.

Bengal BJP president Sukanta Majumdar was injured on Wednesday after losing balance and falling on a car's bonnet, on which he was standing, while addressing reporters in North 24 Parganas district, following which he was taken to a hospital, a party official said. Majumdar, who was prevented from going to restive Sandeshkhali by the district administration on Tuesday, put up at a guest house in Taki late in the night following a dharna in front of the Basirhat police district SP's office. The state BJP president, who made attempts to go to Sandeshkhali again on Wednesday morning, was prevented by the police from leaving the area. Majumdar, also a Lok Sabha MP from the state's Balurghat constituency, was addressing reporters standing on the car's bonnet, when he slipped and fell on it, the party official said.

Jagjit Singh Dallewal on Wednesday said they are ready for holding talks with the Centre over their demands, including a legal guarantee to minimum support price. Citing media reports, Dallewal said Union Minister Anurag Thakur has, in his statement, said that the Centre was ready for holding talks and was also ready to resolve the issues of the farmers. «We do not want to give any room to the Centre for saying that it was inviting us, but they did not accept it. That we have accepted and we are ready for talks,» he told reporters at the Shambhu border. Dallewal said the farmer leaders have taken the consent of fellow farmers for holding talks.

Jammu and Kashmir Peoples Democratic Party leader Arshid Mehmood Khan Wednesday joined the BJP along with a number of his supporters in Jammu. Khan, a three-time sarpanch from Dandesar village of Nowshera, and his supporters were welcomed into the BJP by the party's J&K president Ravinder Raina and other senior leaders, including former deputy chief minister Kavinder Gupta and MP Jugal Kishore. The former PDP leader had unsuccessfully contested the 2008 assembly elections from the Nowshera constituency of Rajouri district Addressing a press conference after the joining, Raina said the BJP was ready for elections in the Union territory.

The front-runner in Indonesia’s presidential election on Wednesday has endeared himself to young voters by projecting an image of a cuddly, cat-loving grandfather figure. But Prabowo Subianto has a checkered history. He was dismissed from Indonesia’s military 25 years ago on allegations he kidnapped democracy activists.

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.

Bloomberg has reported. His comments came in a forum which was held on X Spaces. In the forum, the discussions included opponents of a Senate bill that would provide further assistance for Ukraine to continue battling the full-scale Russian invasion that began two years ago.

defence ministry said it detected 14 Chinese air force planes operating around Taiwan and carrying out "joint combat readiness patrols" with Chinese warships on Wednesday. China, which views Taiwan as its own territory, has over the past four years regularly sent warplanes and warships into the skies and waters around the island as it seeks to assert sovereignty claims that the Taipei government rejects. Taiwan's defence ministry said that starting around 1 p.m. (0500 GMT) on Wednesday it had detected 14 Chinese aircraft including J-16 fighters and drones operating off northern and southwestern Taiwan.

Congress party announced on Wednesday the first list of candidates for the upcoming Rajya Sabha Biennial Elections to be held in various states. According to an official release from the All India Congress Committee (AICC), «Congress President Mallikarjun Kharge has approved the candidature of Sonia Gandhi from Rajasthan and Dr. Akhilesh Prasad Singh from Bihar.» Additionally, Abhishek Manu Singhvi has been fielded from Himachal Pradesh and Chandrakant Handore from Maharashtra.

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.

Flight attendants for major U.S. airlines are holding rallies at airports around the country to push for higher pay

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

Two fired top executives of FirstEnergy Corp. and Ohio’s former top utility regulator have pleaded not guilty in connection with a $60 million bribery scheme

At least six major technology companies are planning to sign an agreement this week that would guide how they try to put a stop to the use of artificial intelligence tools to disrupt democratic elections

Jared Kushner, Donald Trump’s former White House adviser and his son-in-law, is defending his business dealings with the Saudi crown prince after leaving the U.S. government

On February 12, 2024, Kotak Mahindra Life Insurance Company (Kotak Life) unveiled its digital-centric campaign for the Guaranteed Wealth Builder Plans (GWBP) by Kotak Life. The campaign showcases a range of reliable investment options provided by Kotak Life. Its goal is to tackle consumers' primary concerns regarding investments, specifically addressing uncertainties surrounding returns and emphasizing the importance of investing in tax-efficient instruments.