Progressive Financial News

Wipro, the fourth largest Indian IT services company, is set to announce its earnings for the first quarter of fiscal 2024. The IT major is widely expected to report a weak quarter in line with the industry peers, witnessing a sequential decline in revenue and operating margin.

Antony Blinken will meet top Chinese diplomat Wang Yi on Thursday as officials gather in Indonesia for ASEAN meetings, the State Department said in announcing the latest in series of interactions between the rival superpowers. Wang is representing China at the Jakarta meetings involving the Association of Southeast Asian Nations (ASEAN) and partner countries after Beijing said Foreign Minister Qin Gang would not attend due to health reasons. Blinken met Qin and Wang in Beijing last month, marking the first visit to China by a U.S. secretary of state in five years. It was aimed at bringing stability to intense rivalry between the superpowers, which are also the world's two largest economies U.S. Treasury Secretary Janet Yellen visited China earlier this month and climate envoy John Kerry is to visit next week. Wang, who is the foreign policy chief for the Chinese Communist Party, ranks above Qin, who as the foreign minister is the government's foreign policy chief.

equity market is likely to open higher on Thursday following a positive trend in global peers as sentiment improved after slowing inflation in the US indicated that the Federal Reserve could soon end its monetary policy tightening. Trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading at 19,555.00 level as compared to Nifty’s previous close of 19,384.30.

Also read: Hollywood writers’ strike casts shadow on web show slate and OTT biz In the comedy genre, the multiple Emmy-winning series "Ted Lasso" will compete for the best comedy award against shows like "Abbott Elementary," "The Marvelous Mrs. Maisel," "The Bear," "Barry," "Jury Duty," "Only Murders in the Building," and "Wednesday." "Ted Lasso" received the most nominations in the comedy category, with 21 nods. The limited series category features Netflix's "Dahmer - Monster: The Jeffrey Dahmer Story" and "Beef," as well as Disney's "Obi-Wan Kenobi." Although "The White Lotus" won in this category last year, it has been moved to the drama race this year.

HCLTech will acquire a 100% stake in German automotive engineering services provider ASAP Group for €251 million and the transaction is expected to close by September 2023 subject to regulatory approvals, the IT major informed the stock exchanges on Thursday. ASAP is focussed on future-oriented automotive technologies in areas such as autonomous driving, e-mobility, and connectivity.

China's ambassador to the United States held a rare meeting at the Pentagon on Wednesday with the top US defence official for Asia, the Pentagon said, in talks that followed US criticism of Chinese reluctance to engage in military communications. A brief Pentagon statement said Chinese Ambassador Xie Feng discussed defence relations and "a range of international and regional security issues" in talks with Ely Ratner, a US assistant secretary of defence.

New Delhi: G20 finance ministers and central bank governors will be presented a global framework for regulation and supervision of crypto assets as part of policy dialogue that will take place in Gujarat later this month, department of economic affairs secretary Ajay Seth said. In a recorded video message shared by the finance ministry, Seth said that the G20 finance and central bank governors will also be presented the first volume of the report of an independent committee set up by the G20 to strengthen multilateral development institutions.

₹386 crore Chandrayaan-1 was successful. Its orbiter kept orbiting around the Moon for 312 days conducting experiments while its impact probe landed on the lunar surface and discovered signs of water. The ₹850 crore Chandrayaan-2’s mandate was bigger.

New Delhi: Indian airlines face a potential capacity shortage during the peak December quarter travel season, as aircraft induction plans of major carriers are progressing at a sluggish pace, according to data from aircraft tracking site Flightradar24 . Since the suspension of low-cost carrier Go First, domestic airlines’ fleet size has risen by just 0.9% to around 680. Only three major scheduled carriers, including market leader IndiGo, Tata Group’s Air India and startup carrier Akasa Air have added airplanes to their fleet since May.

Financial advisors, characteristically not known for making rash decisions or succumbing to knee-jerk reactions, are soaking up the latest inflation data and generally acknowledging some shifting economic tides in the works.

Philanthropy was practised in other ways too. Even today, religious institutions rent out spaces donated to them. The rental revenues fund their activities.

(Bloomberg) — The Bank of Canada raised interest rates for a second straight meeting, pushing back the timeline for inflation’s return to target while revising growth upward.

The Bank of Canada raised it benchmark lending rate 25 basis points to five per cent on July 12, adopting what economists called a “hawkish tone” and reminding Canadians that bringing inflation back to the two per cent target remains its priority.

Ahead of Prime Minister Narendra Modi’s visit to the UAE later this week, India’s engagement with the Gulf Cooperation Council (GCC) has gained momentum as discussions on the Free Trade Agreement (FTA) between the two parties resume.

With the India-UK talks for a free trade agreement has reached a “critical stage”, the visit of Commerce and Industry Minister Piyush Goyal to London this week has helped in moving the negotiations forward as both the countries held discussions on various “difficult” issues, an official statement said on Wednesday.

Uzbekistan marches towards a steady democracy, economic stability with President Shavkat Mirziyoyev

IGGL) and Oil and Natural Gas Corporation Limited (ONGC) signed three hook-up agreements to connect ONGC’s Natural Gas fields with the North East Gas Grid for transportation of natural gas from Jorhat, Silchar and Tripura Assets of ONGC to the consumers. Indradhanush Gas Grid Ltd is laying a 1656 km long Natural Gas pipeline connecting the capital cities and the demand centres of all the eight north eastern states.

“This pragmatic approach aimed at resolving issues where negotiators had encountered challenges. The visit proved to be critical in overcoming crucial obstacles and charting a path forward towards an ambitious and mutually beneficial trade deal,” the government said in a statement after Commerce and Industry Minister Piyush Goyal met UK’s Secretary of State for Trade Kemi Badenoch. Goyal was on a visit to the UK from July 10-12. The meeting was marked by a shared understanding and a commitment to advancing mutual interests, according to the statement. The ministers also explored opportunities for enhanced collaboration between the two nations.

The Goods and Services Tax (GST) Council’s latest decisions highlight just how complex this tax regime has become. Multi-utility vehicles (MUVs) with a minimum length of 4,000mm, or engine size of at least 1,500cc, or ground clearance exceeding 170mm will now be treated like sport-utility vehicles (SUVs), thus attracting a cess of 22% instead of 20%. MUVs that measure less will still attract the lower levy (applied as an extra after GST).

By Foo Yun Chee

Bengaluru have more than tripled between 2017 and 2022, and the number of cases this calendar year may beat all previous records going by the trends in the first five months, according to the data placed by the Karnataka government before the Legislative Assembly. The city, which is home to several global technology firms and thousands of startups with an estimated 2.3 million tech workers, reported 9940 cybercrime cases in 2022, recording a big jump from 2742 in 2017. In the five months of this calendar year, the city has already reported 6226 cases, Home Minister G Parameshwara has said in response to a query from S Suresh Kumar (BJP).