Show Financial News

Piyush Goyal on Tuesday suggested the auto industry not to import components unnecessarily if the exporting country is not giving equal access to Indian players. He however said that companies can import quality products if those are not available or manufactured domestically. «Where things are being unnecessarily imported without India getting an equal opportunity in those countries I would be tempted....,» he said here at the annual convention of the Society of Indian Automobile Manufacturers. He did not elaborate on these remarks. Goyal also said that the government may have to look at the practices of some of the players in the sector who get dictated by their parent companies on sourcing and pricing of imports of components.

OPEC optimism over the resilience of energy demand in major economies.Brent futures rose $1.64, or 1.8%, to $92.28 a barrel by 11:15 a.m. EDT (1515 GMT). U.S.

ITV has secured the rights to broadcast the Oscars ceremony in the UK, thanks to a newly inked multi-year deal with Disney Entertainment. The Oscars will now find their home on ITV1 and the streaming platform ITVX.

MUMBAI : Small borrowers or those with loans of up to ₹2 lakh have started to utilise less of their sanctioned credit limits after December as interest rates rose, indicating a reluctance to take on additional debt. Calculations based on recent data released by the Reserve Bank of India (RBI) showed that from a utilisation of 67.3% in December, and 66.9% in March, it stood at 65.5% in June, even as their total credit limit grew in the same period. RBI defines ‘small borrowal account’ as one with a credit limit of up to ₹2 lakh, with holders of these accounts being individuals or entities with relatively small credit requirements.

By David Shepardson

Out here in the far reaches of the American empire, it’s always gratifying and more than a little thrilling when people in the imperial capital take notice of us. Last week, the New York Times’ Ross Douthat wrote about wokeness in the Anglosphere and though he started with how James Bond has gone woke in the latest Bond novel (“On His Majesty’s Secret Service,” written not by Ian Fleming, who died in 1964, but by one Charlie Higson), the subject of woke Canada entered soon enough.

MFI) in Karnataka have a loan portfolio of Rs 46,000 crore as on March 2023, showing more than 10% in year-on-year growth, according to an impact report by the Association of Karnataka Microfinance Institutions (AKMi). The association released a sector report for fiscal year 2022-23 in the Microfinance Karnataka Summit – 2023 on Tuesday. The study, which claimed to cover 16,000 customers in seven districts across the state, said that 89% of the surveyed customers preferred MFIs over other lenders and 90% of the loans were for income-generating purposes, like starting a small business. On the other hand, the study revealed that product structures were unsustainable in case of micro-loans, as businesses which used them did not necessarily generate a regular monthly income.

TOKYO—A Chinese aircraft carrier and around two dozen other Chinese warships were gathering in the western Pacific, according to authorities in Taiwan and Japan, an unusually large group suggesting Beijing may be planning major naval exercises. The movement follows a flurry of U.S. military activity in the region, and comes as efforts by Washington and Beijing to improve relations appear to have lost momentum.

Louise Smoczynski is enjoying a quiet retirement in Madison, Wis., but she and her friends are starting to have health problems. Ken Diller is a biomedical engineering professor in Austin, Texas, who has taught for 50 years and isn’t ready to spend his days relaxing on a beach. They have one thing in common: They were born on Nov.

Unions aren’t the force in the U.S. that they used to be. That doesn’t mean they can’t pack a punch.

Amazon.com on Tuesday will unveil its new Manhattan office at the former Lord & Taylor flagship department store, a transformation that highlights how complex office conversions can be. Turning a Fifth Avenue department store that is more than a century old into a modern office came with plenty of challenges. Amazon had to add bathrooms, kitchens, new elevators and stairs wide enough for a rush of office workers.

Russian President Vladimir Putin on Tuesday waded into the debate over the criminal charges faced by Republican election candidate Donald Trump, saying the cases against the former U.S. president amount to political “persecution" and expose U.S. weakness.

China’s sluggish economy is driving cash-strapped local governments to seek unconventional sources of revenue. Their law enforcers have emerged as some of their biggest earners.

More than one-third of Australian businesses are struggling to achieve their carbon emission reduction targets, according to a new survey.

Chhattisgarh eyeing a comeback in the upcoming assembly polls, due later this year. The Yatra was scheduled to be launched by Union Home Minister Amit Shah but his visit was cancelled at the last moment due to some urgent reason, a party leader said. In the absence of Shah, BJP's Chhattisgarh incharge Om Mathur flagged off the yatra after performing rituals at the famous Maa Danteshwari temple in Dantewada town. The Bharatiya Janata Party has planned two Parivartan yatras in poll-bound Chhattisgarh.

Rajasthan recording the highest inflation rate at 8.6%, easing from 9.7% in the previous month, whereas Delhi had the lowest rate at 3.1%. However, Rajasthan was not the only state to record high inflation, as three others, Haryana, Telangana and Odisha, also noted 8%+ numbers. Rajasthan and Telangana are among the five states headed for election later this year. An ET analysis shows that 13 of 22 states for which data was available recorded a higher number than the national average of 6.8%--a worse situation than last month when 12 states had recorded higher than national average inflation. Economists indicate that states taking measures to supply subsidized tomatoes had something to do with inflation variances across states. “Delhi has lowest at 3% with the state taking measures of supplying tomatoes at subsidized prices to the people contributing to this low number,” said Madan Sabnavis, chief economist, Bank of Baroda. Further analysis indicates that two of the 22 states recorded an increase in retail prices as inflation declined across the country.

cryptocurrency market witnessed nearly $70 billion worth of illicit transactions in the last five years, a new report said on Tuesday. According to data presented by AltIndex.com, an investment analysis company, illicit crypto transactions increased by 308% since 2017.

Concerns regarding garbage disposal procedures on the Indian Railways network have been rekindled in response to a widely shared video showing a housekeeping employee of the company throwing trash onto the tracks as a train is moving. The housekeeping staff can be seen in the video sweeping trash off the train and then carelessly tossing it over the tracks, creating a visually upsetting spectacle of trash being thrown from the railway coach. Social media users have shared the video widely in order to voice their outrage at such careless waste disposal techniques.

The Good Ship Canada is taking on water, and bringing in far too many unproductive crew, and its Captain Justin Trudeau simply re-arranges the deck chairs.

Good morning,