Progressive Financial News

China Evergrande shares suspended, China may have some learnings from US, India says Uday Kotak The non-performing ratio may go up to 13% of all privately-owned builders and “low quality" state-owned developers were to go into distressed status, pushing earnings down by 10%, they said. In a bid to boost demand in the property sector in China, the Xi Jinping government directed large cities to cut down payments for homebuyers and encouraged lenders to lower rates on existing mortgages in August. Beijing had announced that nationwide minimum down payments will be set at 20% for first-time buyers and 30% for second-time purchasers.

Ram Mandir in Ayodhya, the birthplace of Lord Rama, is nearing completion, bringing immense joy to Hindus worldwide. This much-anticipated religious edifice carries deep significance for millions and has been in the making for centuries.

Maldives votes in a presidential runoff on Saturday that could drastically rebalance its relations with India and China, two regional giants competing for influence in the geopolitical hotspot. The atoll nation of nearly 1,200 coral islets is a prestige tourism hotspot and favourite beach holiday destination for the world's rich and famous. It also sits in a strategically vital position in the middle of the Indian Ocean, astride one of the world's busiest east-west shipping lanes. Frontrunner Mohamed Muizzu's party moved into Beijing's orbit while last in office and was an eager recipient of financial largesse from China's Belt and Road infrastructure programme. Muizzu, the 45-year-old mayor of Male, spearheaded the $200 million China-backed bridge linking the capital to the country's main airport while in the last government. He won just over 46 percent of the first round earlier this month while incumbent Ibrahim Mohamed Solih, who presided over the restoration of ties with traditional benefactor India, trailed at 39 percent. But with only 283,000 eligible voters, and barely 15,000 votes between the pair, former foreign minister Ahmed Shaheed told AFP the contest was on a knife's edge. «The mood in the Maldives suggests that the two candidates are narrowing their gap,» Shaheed said. «This is going to be a very, very close race.» Solih won office in 2018 on the back of discontent with his autocratic predecessor Abdullah Yameen, an ally of Muizzu's who is now serving an 11-year prison sentence for corruption. He had accused Yameen of pushing the country into a Chinese debt trap by borrowing heavily for infrastructure. Yameen's turn towards Beijing had alarmed New Delhi, which shares Western concern at China's

X could turn a profit in early 2024, Chief Executive Officer Linda Yaccarino said on Wednesday, during a wide-ranging interview in which she defended the company's progress under billionaire owner Elon Musk. The appearance at Vox Media's Code conference comes as Yaccarino marked 100 days as CEO of the platform formerly known as Twitter. She has faced questions over her autonomy in the role and the company's ability to court advertisers who have been wary of the rapid changes on the platform and Musk's controversial persona.

Ram Temple in Ayodhya will be completed by December next year with the first phase getting completed in the next three months, Chairman of Ayodhya Ram Mandir Construction Committee Nripendra Misra has said and noted that there are 160 pillars on the ground floor and each pillar has 25 iconographical works of different forms. In an interview with ANI, Misra said that 70,000-75,000 people can have easy darshan if the temple is open for 12 hours.

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PTI reported. Most of the farmers' bodies participating in the protest are from Punjab. However, a few outfits from Haryana, Himachal Pradesh, Uttarakhand, Uttar Pradesh, and Rajasthan will also support the agitation.

Paul Rodgers, known for his role in Bad Company, recently shared the details of a harrowing health ordeal during an interview with CBS Mornings on September 27. He disclosed that he endured two major strokes, one in 2016 and another in 2019, along with a staggering 11 minor strokes, a dire situation that nearly spelled the end of his music career. Speaking about his experience, Rodgers admitted, «I couldn't do anything, to be honest. I couldn't speak. That was a very strange thing. You know, I'd prepare something in my mind and I'd say it, but that isn't what came out, and I'd go, 'What the heck did I just say?'» Following his 2019 stroke, he underwent a carotid endarterectomy to remove plaque from the arteries in his neck leading to the brain. Medical professionals cautioned Rodgers about substantial risks, given the proximity of the procedure to his vocal cords. Rodgers humorously recalled their warning, saying, «They told me, they're very clear, 'You may not come out of this alive.' And I said, 'Oh, well, that's a plus, isn't it?' Fingers crossed, you know? And when I woke up, I opened my eyes, I thought, 'Oh, I'm still here.'» Although his recovery proved arduous, Rodgers managed to resume playing music six months later. Reflecting on his progress, he shared, «Each thing was a step forward. Each thing that I did was an achievement. 'Oh, I can do this. I can sing.'» Rodgers recently released his first solo album in over two decades, titled "Midnight Rose." He described the accomplishment as «kind of a miracle» given the challenges he had faced.

Former Chrysler CEO Bob Nardelli discusses the ongoing talks between the UAW and the Big Three automakers on «The Claman Countdown.»

China's government has accused Taiwan’s ruling party of seeking independence, a day after the self-governing island’s president lobbied for Australia’s support in joining a regional trade pact

The United Auto Workers union says it will announce on Friday how it plans to expand its strike against Detroit’s three automakers

NEW DELHI : A push by India and the Philippines to renegotiate their investment agreement is moving slowly, according to persons aware of the matter. The agreement, which was signed in 2000 and came into force in 2001, expired in 2011. New Delhi has called for the agreement to be terminated and replaced by a new Bilateral Investment Treaty (BIT).

Narendra Modi on Wednesday said his aim is to make India a global growth engine and expressed confidence that the country will soon emerge as an economic powerhouse of the world. Speaking at an event to mark 20 years of success of the Vibrant Gujarat Summit, Modi said they sowed small seeds of a «Vibrant Gujarat» 20 years ago, and today it has developed into a big tree. Modi also said that Vibrant Gujarat became a success at such a time when the previous central government (UPA dispensation) was «indifferent» to the industrial progress of the state.

International Monetary Fund (IMF) concluded its visit to Sri Lanka but did not reach a staff level agreement which was part of the first review under a $2.9 billion bailout package, the fund said in a statement on Wednesday. «Sri Lanka has made commendable progress in implementing difficult but much-needed reforms.

Japan’s Kirin Holdings Company says it plans to expand Blackmores into food and drink-based immunity products after acquiring the local vitamins group for $1.9 billion.

Norwegian Geotechnical Institute (NGI) to explore feasibility of harnessing geothermal potentials that the state’s numerous hot springs offer. The intention of this MoU is to provide a facilitating mechanism for the two parties to work together on mutually agreed, progressive and supportive activities; aiming for further development in the field of Geotechnics and Rock Engineering by dealing with complex sub-surface geological and geotechnical issues faced by the state. To begin with, NGI will carry out geological, geochemical and geothermal investigation of few selected geothermal sites in Tawang and West Kameng districts that will include MT Survey to decipher the deeper geoelectrical configuration of geothermal springs (hot-springs) and feasibility to utilize the Geothermal Energy resources for further use. The MoU was signed by Repo Ronya, Secretary, Science and Technology, Government of Arunachal Pradesh, and Dr Rajinder Bhasin, Technical Expert, NGI, Norway, in presence of Chief Minister Pema Khandu, Science and Technology Minister Honchun Ngandam, Chief Secretary Dharmendra and Dr Vivek Kumar, Senior Advisor, Norwegian Embassy, New Delhi. Congratulating NGI and the department of science and technology, Chief Minister Pema Khandu said that it’s a right step towards green and clean energy production especially in the light of global warming concerns. “It’s a great coincidence that this MoU is being signed on World Tourism Day as its theme this year is ‘Tourism & Green Investment’ that perfectly goes in tandem with this new initiative,” Khandu pointed. He expressed optimism that the study will lead to development of renewable geothermal sources in Arunachal Pradesh and increase energy supply to meet present and

₹5,206 crores at Chhota Udepur in Gujarat including village Wi-Fi facilities in 22 districts on Wednesday. The Gujarat government, in a statement on Monday, said PM Modi will visit Gujarat on September 27 and inaugurate projects worth ₹4,505 crore under the Mission Schools of Excellence.

₹210.00 apiece on the BSE. Moody’s downgraded Vedanta Resources’ Ltd (VRL) corporate family rating (CFR) from Caa1 to Caa2 over elevated risks of debt restructuring over the next few months.

The US Defence Department said they reviewed progress toward operationalizing major bilateral initiatives on information-sharing, defence industrial cooperation, and joint service engagements. The dialogue was co-chaired by Assistant Secretary of Defence for Indo-Pacific Security Affairs Ely Ratner alongside Assistant Secretary of State for South and Central Asian Affairs Donald Lu, Additional Secretary VRao of the Indian Ministry of External Affairs, and Joint Secretary Vishwesh Negi of the Indian Ministry of Defence, said Department of Defence spokesperson John Supple. The officials underscored the transformative momentum in US-India relations and reaffirmed that a strong US-India partnership is essential to upholding security and prosperity in the Indo-Pacific region, he added.

ETF provider Betashares is acquiring Bendigo Bank’s superannuation arm as part of its bid to take on the $3.5 trillion super sector and establish itself as a broader financial services outfit.