Progressive Financial News

Narendra Modi and President Xi Jinping of China met on the sidelines of the BRICS Summit in Johannesburg, South Africa. The two leaders held “candid and in-depth" exchange of views on current China-India relations and other questions of shared interest. Mint explains the significance of the meeting.

Jerome Powell delivers a high-profile speech Friday in Jackson Hole, Wyoming, many analysts think he could make one thing clear: That the Fed plans to keep its benchmark interest rate at a peak level for longer than had been expected. Powell isn't likely to say whether the Fed will continue raising rates. But he may signal that any rate cuts are unlikely until well into next year.

Vodafone Idea (Vi) is closer to tying up its much-delayed equity funding with chief executive Akshaya Moondra informing the Department of Telecommunications (DoT) that the telco has term sheets from several potential investors. He said one of these potential investors will also be seeking a meeting with the authorities to get assurances on continuing government support for the cash-strapped operator. In an August 8 letter, Moondra told DoT the external fundraise would set in motion an «accelerated» ₹65,000 crore capex plan over four years to turn around the company. Copies of the letter, seen by ET, were marked to communications minister Ashwini Vaishnaw, finance minister Nirmala Sitharaman and the PMO. A senior government official said Vi's fundraising is imminent and could be finalised in the next seven to 10 days. The government holds 33.1% in the company in which UK's Vodafone Group owns 32.3% and India's diversified Aditya Birla Group holds 18.1%.SBI considering loan «Significant progress has been made with several groups of investors for raising equity and equity-linked capital, and we have a few term sheets from some of them,» Moondra said in his letter. He added that a specific investor would seek time to meet relevant officials in the government to «draw comfort for continued support» to Vi, given the large government debt involved. «Funding from the investor will enable Vi to start the capex cycle.

India and China concluded the longest ever military talks to lower tensions on the border in Eastern Ladakh, with positive developments likely towards further confidence building measures and de-escalation. Sources said that Major General level talks that discussed resolving of border flashpoints, depth and scope of patrolling in disputed regions and other confidence building measures took place over a record six days. The talks have been on since last Friday at two locations in eastern Ladakh — Daulat Beg Oldie and Chushul. While there has been no official statement on what transpired in the marathon talks, sources said that the dialogue took place in a positive and constructive manner towards making progress in easing border tensions.

MUMBAI : Members of the central bank’s monetary policy committee (MPC) have reaffirmed their commitment to bring down inflation to the 4% target amid a sudden spike in vegetable prices, minutes of the MPC meeting released on Thursday showed. Earlier this month, MPC unanimously voted to keep repo rate unchanged at 6.5% for the third straight meeting. The members, however, did not signal the need for any rate action at this point unless food inflation gets generalized.

NEW DELHI : The European Union (EU) has proposed an investment court system for dispute resolution as part of the bilateral investment treaty (BIT) under negotiation alongside the free trade agreement, European commissioner for trade Valdis Dombrovskis said. EU officials plan to discuss the proposal with finance minister Nirmala Sitharaman on Saturday, Dombrovskis said in an interview. In a sign of easing trade tensions, the EU trade chief said that settlement of outstanding disputes at the World Trade Organization (WTO) is also on the agenda.

Some California lawmakers want to make striking workers eligible for unemployment benefits

Congress on Thursday shared several photographs of Jawaharlal Nehru and Indira Gandhi with doyens of India's space programme such as Vikram Sarabhai to highlight the continuity in the country's progress in the sector.

Global energy giant BP is optimistic it can export green hydrogen to Europe and Japan by the end of the decade from a repurposed, 70-year-old oil refinery south of Perth.

I remember, when they landed on the moon, PM Indira Gandhi had asked Rakesh Roshan [sic] that how does India look from there. how does it look from space)" See the video here The guffaw, of course did not go down well with social media users. Everyone was quick to notice and memes followed.

startups is called direct-air capture. It employs vacuum-like devices and fans to suck in air, pull out the carbon and bury it underground. The process is a man-made variation of what trees do every day.

Ashima Goyal, Jayanth R Varma and Rajiv Ranjan voted for status quo on the policy rate. Going forward, the spike in vegetable prices, led by tomatoes, would exert sizeable upside pressures on the near-term headline inflation trajectory. This jump is, however, likely to correct with fresh market arrivals.

Cardano ($ADA) ecosystem has witnessed significant growth and development in Q2 2023, according to Messari's recent report. From the rise in stablecoin value to the expansion of decentralized finance (DeFi) and non-fungible tokens (NFTs), the network has seen remarkable progress.

greenhouse emissions, as the literal building blocks—concrete and cement—of the construction projects are extremely polluting. Roughly 7% of all carbon emissions today come from cement production, making it one of the highest-emitting industrial sectors, according to the consulting firm McKinsey. “Concrete is an essential building material," said Claude Loréa, director of cement, innovation and ESG at the Global Cement and Concrete Association.

The Solana price has gained by 4.5% in the past 24 hours, with its move to $21.72 coming as the cryptocurrency market as a whole recovers modestly after recent selloffs.

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India, as current holder of G20 Presidency, is «well positioned» to help advance a global discussion on AI issues, Microsoft vice chair & president Brad Smith has said advocating broader legal and regulatory frameworks for AI, and safety brakes in AI systems controlling critical infrastructure. Smith, who is on a visit to India and scheduled to participate in the B20 Summit India starting Friday, penned a blog titled 'India's AI Opportunity' where he outlined five key recommendations in the Indian context.

covid pandemic, under which it would provide interest-free capital expenditure (capex) loans, will now come with caveats as the government attempts to nudge states to implement specific reforms. Mint explains the rationale behind the government's decision. About ₹80,000 crore of interest-free loans have been sanctioned to states for this fiscal year and almost ₹40,000 crore has been disbursed to states so far.

Vedanta Limited, plans to increase its zinc production capacity from 1 million tonne per annum (mtpa) to 1.5 mtpa this fiscal. “Zinc will play a key role in India’s growth story... We are looking forward to at least 3-4% growth in the sector and plan to ramp up our production from 1 million tonnes to 1.5 million tonnes per annum," Priya Agarwal Hebbar, chairperson of HZL and non-executive director of Vedanta Ltd, said at the company’s 57th annual general meeting (AGM).

Reliance Industries (RIL) share price dipped about half a per cent in morning trade on BSE on Thursday, a day after the company announced Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest ₹8,278 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. This investment, the company said values RRVL at a pre-money equity value of ₹8.278 lakh crore. QIA’s investment will translate into a 0.99 per cent stake in RRVL on a fully diluted basis, RRVL said on Wednesday.

Nitesh Tiwari of 'Dangal', 'Bawaal' and 'Chhichhore' fame. The Bollywood movie, which boasts a stellar cast featuring Ranbir Kapoor, Alia Bhatt and Yash in pivotal roles, has hit a roadblock. The 'Darlings' actress — who was being considered for the role of Sita in the movie, has decided to step away from the project, according to a report in Pinkvilla. The reports suggested that the collaboration between Bhatt and the makers didn't work out due to date issues. However, Kapoor is said to be determined to play the role of Lord Ram in the mythological movie. As the cast hasn't been finalised yet, the film's production schedule has also encountered delays.