Progressive Financial News

Delhi during the G20 Summit, Raj Niwas officials said on Sunday.

ITC is seeing green shoots of volume growth and expects the momentum to continue sequentially, its Chairman and Managing Director Sanjiv Puri said on Sunday. This will certainly lead to improvement in volume, but it will not happen overnight, said Puri here on the sidelines of the B20 Summit organised by the CII. Over the ITC's plan for the demerger of its hotel business, Puri said it is going to benefit the existing shareholders by incorporating a wholly-owned new subsidiary ITC Hotels Ltd. «It will be a pure-play, focused on hospitality, which can leverage the institutional strengths of ITC. And ITC in turn will be able to leverage the synergy on its hospitality business, or its FMCG businesses,» Puri told PTI. It is a «very robust» model, which will help the business to make the hotel business accelerate progress, whilst retaining synergies and it will improve the financial metrics of ITC, he added.

US jobs data. This week, COMEX Gold prices saw an uptick, marking their first weekly gain in four weeks, even amid a significant surge in the US dollar. Previously, spot gold prices had dipped below the critical $1,900 per troy ounce threshold due to various factors, including US retail sales data and somewhat hawkish Federal Open Market Committee (FOMC) meeting minutes.

All India Chess Federation (AICF) president Sanjay Kapoor said Indian chess has entered the «golden era» and the country will have over a hundred Grandmasters within two years. For years, five-time World Champion Viswanathan Anand dominated the conversation on Indian chess and rightly so. However, the dynamics have changed in the past decade with youngsters like R Praggnanandhaa, D Gukesh and Arjun Erigaisi making rapid progress in the international arena. «There was one Vishy (Anand) before but now I believe the golden era of chess has started in India,» Kapoor told PTI. «Anand is a stalwart of the game.

renewable energy, energy storage, telecommunications, defence and healthcare. In June this year, India became a member of the coveted critical minerals club - the Mineral Security Partnership. The announcement was part of a joint statement by prime minister Modi and president Joe Biden during the former's recent US visit.

Narendra Modi on Sunday addressed the B20 summit in Delhi. The three-day-long summit of G20's business forum will come to an end today evening. The Business 20 Summit is the official G20 dialogue from the global business community.

By Howard Schneider, Ann Saphir and Balazs Koranyi

B20 Summit LIVE Updates -During his address, EAM Dr S Jaishankar said that the core mandate of the G20 is to promote economic growth and development. -In the session he also said that India was acutely conscious of the absence of voice of the Global South in G20. Mentioning India's concern for the Global South, Jaishanker threw light upon India's global initiatives like International Solar Alliance or the coalition for disaster resilient infrastructure.

ISRO Chairman S Somanath on Saturday said India is capable of launching more interplanetary missions and the objective of the space agency is the overall progress of the country through the expansion of the space sector.Prime Minister Narendra Modi has long-term vision about the country's space sector and the Indian Space Research Organisation (ISRO) is all ready to implement it, he told reporters at the Thiruvananthapuram international airport Saturday night. Somnath reached the Kerala capital for the first time after the historic success of the moon mission. Earlier in the day, Prime Minister Narendra Modi flew down to Bengaluru directly from Greece, to pay tribute to the ISRO scientists. «As far as we are concerned, not just the soft landing, but the entire aspects of the Chandrayaan-3 were 100 per cent successful. The entire country is proud of it and extending support to us,» he said. An elated Somnath said he and his colleagues were happy and proud to be part of the great achievement of the ISRO and requested people to continue their support in their future endeavours.

Delhi government's plan to revise circle rates of residential and commercial areas in the capital is back on the drawing board, reported TOI. According to officials the previous plan prepared by the revenue department proposing the creation of sub-categories in A to H categories of residential areas with multiple slabs of circle rates was returned by the finance department with certain objections and suggestions. «We have decided to carefully study the suggestions and rework our proposal,» said a senior revenue department official. «Since there is a big gap in the existing circle rates and the market rate at which the sale and purchase of properties take place, we will propose a hike of up to 35%. But based on the feedback received from the stakeholders, we will also consider downgrading or upgrading the categories of certain colonies based on their location, facilities and existing market rates,» the official said. Circle rates, or minimum rates for valuation of land and immovable property in the national capital, were last hiked for residential areas in all existing categories in 2014.

PM Modi celebrates success of Chandrayaan-3 with ISRO scientists in Bengaluru. In pics A video has gone viral where two news anchors from Pakistan have heaped praises on India and the Chandrayaan-3 mission. The two anchors in Hindi said, "India chand pe pauch gaya hai aur hum beech pe hi phase hue hai. Apni ladhai pe hi pade hue hai. We need to broaden our horizons. Kya visual tha...hume yaha baith ke bohot khushi ho rahi hai. Hum ek jaise dikhte hai magar bohot farak hai dono mulk mein..Hum muqable ki baat karte haine...yeh wo cheez hai jisme muqabla hona chaiye. This is a progressive and healthy competition. (India has reached the moon and we are stuck in our own system and fighting with each other.

RBI target leading to an elongated high interest rate cycle. However, corporate earnings are forecast to remain buoyant in Q2 due to a moderation in international costs (fuel, metals, and chemicals) and festival demand. The upswing in retail inflation observed in July at 7.44% warrants careful observation due to its potential upward risk.

Narendra Modi has long-term vision about the country's space sector and the ISRO is all ready to implement it On Saturday, PM Modi flew down to Bengaluru directly from Greece, to pay tribute to the ISRO scientists. "As far as we are concerned, not just the soft landing, but the entire aspects of the Chandrayaan-3 were 100 per cent successful.

Gulf of Mexico, raising the likelihood of affecting Florida in the upcoming week, according to meteorologists. The forthcoming named storm in the 2023 Atlantic hurricane season is predicted to be Idalia (pronounced as «ee-DAL-ya»). The National Hurricane Center has expressed agreement with the potential development of this system, attributing an 80 per cent probability to its formation. The prevailing environmental conditions seem favorable for the gradual evolution of this system over the forthcoming days. As it progresses generally northward across the northwestern Caribbean Sea and the eastern Gulf of Mexico, it is anticipated that a tropical depression will likely emerge either late this weekend or early the following week. Dolce mentioned that although the Gulf waters possess ample warmth to facilitate the formation of a depression or storm, the potential hindrance of wind shear needs to be considered. Wind shear, denoting variations in wind speed and direction with altitude, typically acts as an inhibiting factor for storm development. With Florida situated in the prospective trajectory of the impending storm, precautionary measures are being initiated. Governor Ron DeSantis' official schedule confirmed his communication with Kevin Guthrie, Director of the Division of Emergency Management, on Thursday. Subsequently, DeSantis shared an update on X (formerly known as Twitter), directing attention to the state's emergency management team's readiness for the possible tropical system's movement across the Yucatán Peninsula. He advised residents to stay vigilant and prepare for potential impacts in the early days of the forthcoming week, directing them to follow @FLSERT for updates.

Martin Luther King III, along with his wife, Arndrea Waters King, and their 15-year-old daughter, Yolanda, have developed a set of traditions for this time of the year. Each August, they rewatch the Rev.

India is a laboratory for global good and carries a reservoir of talent, Union Education Minister Dharmendra Pradhan said on Saturday. Addressing the B20 Summit India on the theme «Aligning Education to Emerging Imperatives», Pradhan said education is the mothership that will drive all growth. «India is a laboratory for global good which comes from our civilisational values of Vasudhaiv Kutumbukam… India's aspirations are for achieving global good and wellbeing.

BJP on Saturday hailed Prime Minister Narendra Modi's announcement naming the Vikram lander's touchdown spot on the Moon as «Shiv Shakti Point», and took a swipe at the Congress saying if it had been at the helm, it would have christened the site "Indira Point and Rajiv Point". Reaching Bengaluru this morning directly from the Greek capital of Athens after summit talks, Prime Minister Modi announced that Chandrayaan-3's landing spot on the Moon would be named as Shiv Shakti Point and August 23 would be celebrated as National Space Day. He also said the place where the Chandrayaan-2 lander crash-landed on the Moon's surface in 2019 and left its imprints would be known as «Tiranga Point». Hailing the prime minister's announcement, BJP national spokesperson Shehzad Poonwalla said, «PM Modi puts India first.

Kids aren’t spending enough time outside. It’s fueling an epidemic of nearsightedness. Nearsightedness develops in childhood, typically between ages 5 and 16, and it’s closely linked to a lack of exposure to sunlight.

Chandrayaan-3 on the moon will be known as 'Shiv Shakti', Prime Minister Narendra Modi announced at the Indian Space Research Organisation (ISRO) Telemetry Tracking and Command Network (ISTRAC) in Bengaluru on Saturday. India, on August 23, had successfully landed its third lunar mission, the Chandrayaan-3, 70 degrees to the south pole of the moon. August 23, will now be celebrated as National Space Day to celebrate the spirit of science, technology and innovation. The area on the moon where Chandrayaan-2 left its footprints will now be called 'Tiranga'. «This tricolor point will be the inspiration for every effort of India, this tricolor point will teach us that no failure is final,» the PM said.

MVA government had planned a «calculated move» to level false charges on BJP leader Devendra Fadnavis and jail him among others. Shinde was replying to a query of reporters here on a Mumbai court accepting the CBI's closure report in a case of alleged phone tapping that took place during the term of the then Maha Vikas Aghadi government. The case stems from a press conference addressed by present Maharashtra Deputy Chief Minister Devendra Fadnavis in March 2021, when he was the Leader of the Opposition in the Assembly «The then MVA government had misused power and wanted to jail leaders of the BJP by levelling different charges on them.

Brightcom Group Ltd, as well as at the residences of Chairman and Managing Director M. Suresh Reddy and Chief Financial Officer S.L.N Raju in Hyderabad. The searches were conducted as part of the investigation conducted by the Securities and Exchange Board of India (Sebi) regarding impairment of assets worth Rs 868 crore by the company through its international subsidiaries. The inquiry by the ED revealed that Brightcom Group violated provisions of Foreign Exchange Management Act (FEMA). “It was revealed that Brightcom itself financed the preferential issues by round-tripping funds through subsidiaries and conduit entities; that Brightcom falsely claimed to have received full payment for preferential shares/warrants by providing ‘forged and fabricated bank statements’ to SEBI,” the ED said. Further, more than Rs 300 crore advanced as loans to subsidiaries were partly siphoned off or remained unaccounted. The ED also conducted searches at the residence of the company’s statutory auditors P.