Progressive Financial News

India is making some very strong inroads in the development agenda, says Mathias Cormann, secretary-general at the Organisation for Economic Co-operation and Development. He terms the global tax deal as the biggest reform in more than 100 years that is seeking to cater to changes in business models and the structure of the global economy. Edited excerpts from an interview with Deepshikha Sikarwar.The OECD in its latest economic outlook has said improvement in global growth is very fragile. What are the key risks that you see for the recovery? First, the good news is that we project continued global growth.

Vedanta Group has tied up with technology and equity partners for its semiconductor fabrication project and with Innolux for its display fab unit, Akarsh Hebbar, global managing director of Vedanta Semiconductors and Display, said in a statement on Tuesday. “Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district. Substantial progress has happened to tie up with technology and equity partners in semiconductors and we will make an announcement soon," he said.

Military Cooperation of the Indian-Russian Intergovernmental Commission on Military and Military Technical Cooperation (IRIGC-M&MTC) is being held at Manekshaw Centre in Delhi on Tuesday and Wednesday to discuss the issue of spare parts and maintenance issue of Russian origin defence equipment used by India. The meeting is being chaired by Lt Gen Johnson P Mathew, CISC HQ IDS from the Indian side and Lt Gen Dylevskii Igor Nikolaevich, Deputy Chief of the Main Operational Directorate of the General Staff of the Armed Forces of the Russian Federation from the Russian side.

Taking a swipe at the Opposition alliance named 'INDIA', Prime Minister Narendra Modi said on Tuesday that although India has a long tradition of coalitions, 'those formed with negativity have never succeeded'. He was addressing the NDA meeting in the national capital. Leaders from 38 parties including Ekanth Shinde, K Palaniswami, Ramdas Athavale, and Chirag Paswan reached Delhi to attend the meeting.

China Evergrande Group's (3333.HK) restructuring plan and operations. This comes as the company's long-overdue reports for the past two years reveal significant liabilities and a decrease in cash. Adding to the unease, Evergrande's auditor commented that it could not provide an opinion on the reports due to material uncertainties surrounding the company's ability to sustain its operations as a going concern.

The Niti Aayog released a report on Monday saying that ‘multidimensional poverty’ in India had dropped to about 15% in 2019-21 from almost a quarter in 2015-16, with data drawn from two successive National Family Health Surveys. The think-tank’s second such study, its time-span does not capture pandemic scars. Nor should it be confused with poverty estimates that go by what people consume or the money they need to get by.

Tata Group to build a battery plant supplying a new range of electric Jaguar and Land Rover models. Tata has chosen a site in Somerset, west England, owned by Salamanca Group, an investment and advisory business with roots in real estate, people familiar with the plans said. The Indian parent of the British brands will outline its decision as soon as this week, said the people, declining to be named discussing non-public information. Tata previously considered building its battery site in Spain, but a decision in favor of the UK will help to secure the future of JLR’s plants in its traditional home market. The cell factory will have an eventual capacity of 40 gigawatt hours, enough to supply roughly half a million vehicles per year depending on the size of the batteries.

syphilis among women in Houston, Texas, have seen a significant increase. From 2019 to 2022, there has been a 128% jump, with the number rising from 295 to 674 cases. This rise, along with other similar syphilis statistics, has led the Houston Health Department to declare an outbreak of this sexually transmitted infection (STI). Additionally, there has been a 57% increase in newly diagnosed infections during the same time period, going from 1,845 to 2,905 cases. An outbreak refers to a sudden surge in the number of disease cases within a specific region. Various factors can contribute to outbreaks, such as the emergence of new diseases, environmental changes, or shifts in human behaviour.

clean energy supply chain to minimize risks and uncertainties, the two sides said in a joint statement after the meeting of their energy ministers. Oil minister Hardeep Puri and US energy secretary Jennifer Granholm met in New Delhi on Tuesday to review the progress under the U.S.-India Strategic Clean Energy Partnership (SCEP).

BOJ) Governor Kazuo Ueda said on Tuesday there was still some distance to sustainably and stably achieving the central bank's 2% inflation target. «Based on this understanding, we have patiently continued our ultra-loose monetary policy under yield curve control (YCC),» Ueda told a news conference after attending a G20 finance leaders' meeting in India.

New Delhi: India and the US emphasized on the need for joint action and collaboration to navigate the global energy transition during the Ministerial meeting of the US-India Strategic Clean Energy Partnership (SCEP). The meeting was held between the union minister of petroleum and natural gas, Hardeep Singh Puri and US Energy Secretary Jennifer Granholm in New Delhi on Tuesday.

Investing.com — Crude oil prices edged higher Tuesday, rebounding after the previous session’s weakness ahead of the latest readings on U.S. crude supplies.

Lok Sabha elections draw near, both Opposition parties and the BJP-led NDA held strategy meetings on Tuesday. The ruling coalition meeting began in the national capital on Tuesday afternoon with representatives from 38 parties even as its political opponents concluded a two day meet in Bengaluru. The Opposition has rebranded itself as the Indian National Developmental Inclusive Alliance, asserting that 2024 would be an ‘INDIA vs NDA’ clash.

Prime Minister Narendra Modi on Tuesday said all NDA partners attending the meeting in Delhi is a matter of "immense joy" and described the bloc as a time-tested alliance. Total 38 parties will be attending the National Democratic Alliance meeting in Delhi on Tuesday.

Road accidents claim around 1.5 million lives in India every year, contributing 11 per cent to the total number of such fatalities globally, according to a FICCI-EY report. Globally, at least one life is lost every 24 seconds due to road traffic injury, said the report released on Tuesday. As per the World Health Organisation (WHO), road crash is the 8th leading cause of death with more than 1.3 billion deaths and 50 million serious injuries. It is the leading cause of death amongst youth and kids aged 5 to 29 years, it said. «1st rank in road fatalities is held by India (11 per cent share in the world). Every year India loses 1.5 million lives in road crashes...Every year we lose a number of people the size of the population of Estonia,» the report titled 'Road Safety in India — Navigating through nuances' said. India is a signatory to Brasilia Declaration which aims to half the number of global deaths and injuries from road traffic crashes by 2030. The report was released by Tukuni Sahu, Minister for Transport, Water Resources & Commerce, government of Odisha, in the national capital.

IGO, the West Australian nickel and lithium miner that slashed almost $1 billion from the value of assets it acquired from Western Areas, faces a year-long delay and a $275 million cost blowout on that project.

New Delhi: The fourth Energy Transitions Working Group (ETWG) meeting under India’s G20 Presidency will be held in Goa from 19 July, the ministry of power said on Tuesday. The two-day meeting will bring together over 100 delegates from G20 member countries, special invitee countries, and several international organisations, it added.

Motilal Oswal Financial Services pointed out that the demand recovery is sustaining across segments such as passenger vehicles (PVs), commercial vehicles (CVs) and two-wheelers (2Ws). Exports, too, seem to have largely bottomed out, though recovery may be gradual. Poddar said that the commodity cost continues to soften which would result in margin expansion.

India has made remarkable progress in its quest for a sustainable future, showcasing significant advancements in the field of green buildings. The country has emerged as a global leader in incorporating sustainable and eco-friendly practices into the real estate sector, demonstrating a strong commitment to energy-efficiency and environmentally-conscious materials. The green building revolution in India has been further bolstered by proactive government policies and initiatives.

Democracy, Secularism, and Social Justice". Further, speaking on the unity of the 26 political parties, having different ideologies, Kharge said, "We are aware that at the state level, there are differences between some of us. These differences are not ideological.

Maruti Suzuki has increased the price of its Grand Vitara. The SUV has become expensive by ₹4,000. The hybrid SUV now costs ₹18.29 lakh (ex-showroom), with prices going up to ₹19.79 lakh (ex-showroom).