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Tehrik-eTaliban Pakistan (TTP) that has crippled all efforts to revive the sinking economy. The demand was raised by Pakistan army chief Asim Munir with the US leadership during his recent visit there.

Samsung for the first year — FY21 — of the smartphone production-linked incentive (PLI) scheme, officials told ET. The approval, granted after over two years, came after the smartphone major revised its claims as the government had found some discrepancies in the original paperwork. «The claims for the first year have been approved and the amount is likely to be disbursed in a couple of weeks,» an official said. The approved amount though is nearly half of the ₹900 crore that Samsung had initially filed for in August 2021, claiming to have achieved the target of ₹15,000 crore worth of incremental sales for FY21. To claim the subsidy, Samsung had to produce handsets with a factory cost of more than $200 (roughly ₹15,000). However, the ministry of electronics and information technology (Meity) found some discrepancies in the company's invoices and held back the incentives. While Samsung was the only company to have achieved the production targets in the first year of the PLI scheme, it is the last one to get the incentives due to the discrepancies and subsequent checks.

Qure.ai, a Mumbai-based healthtech firm that uses artificial intelligence (AI) for medical imaging diagnostics, is gearing up for a large fundraise early next year to fund business expansion organically as well as through acquisitions, its CEO said. «We will be raising more funds in a few months,» Prashant Warier, chief executive of Qure.ai, told ET in an interview. He declined to specify the quantum of funds Qure.ai plans to raise but said it would be in «triple digits». As for acquisitions, Qure.ai is eyeing companies that have complementary solutions as well as market access in certain geographies, Warier said.

In an economic review for the first half of FY24, the ministry forecast continued growth in manufacturing, upbeat sentiments in the services sector, sustained rise in consumption expenditure buoyed by resilient urban and catching-up rural demand, and much-improved current account balance. It also expected a further moderation in headline retail inflation despite «temporary disruptions» caused by volatile food prices. Retail inflation hit a three-month high of 5.55% in November, driven partly by dearer vegetables and base effect, but remained within the central bank's 2-6% target. The review also flagged downside risks to growth arising from «smouldering inflationary pressures in advanced countries» and supply-chain disruptions re-emerging from persistent geopolitical stress.

government's fiscal deficit in the first eight months of this fiscal year hit 50.7% of the annual target, compared with 58.9% a year before, as a tight leash on spending in recent months on top of improved tax collections kept the deficit under control, according to official data released on Friday. In absolute terms, the fiscal deficit until November dropped below the level a year earlier, for the first time this fiscal year. Between April and November, the deficit touched ₹9.07 lakh crore, compared with ₹9.78 lakh crore a year before. The fiscal gap in November narrowed more than a half to ₹1.03 lakh crore from ₹2.20 lakh crore a year earlier, thanks to lower tax devolution to states, a contraction in revenue spending and only a marginal increase in capital expenditure. The lower deficit further lends credence to the official assertion that the FY24 deficit target of 5.9% of GDP will be met, amid fears the nominal economic growth may trail the budgeted goal (10.8% after the base revision).

ULFA) on Friday signed a peace agreement with the Centre and the Assam government and agreed to surrender weapons, shun violence, disband the organisation and join the democratic process. Union home minister Amit Shah, who was present along with Assam chief minister Himanta Biswa Sarma at the signing of the accord here, said it was a big day for the people of Assam.

climate action echoes louder than ever, and it is crucial to recognise that governments alone cannot bring forth the change. Private financing underpins all aspects of climate action. Despite the COP28 deliberations, financing for climate adaptation remains insufficient. According to the latest estimates, the price tag for climate change hovers between $1.2-1.7 trillion per year by 2030.

Investing.com – Main U.S. indexes declined on the final trading day of 2023, pulling back from recent highs. Megacap tech ended the year on a sour note but was among the best performing groups overall this year.

Throughout the week, Bitcoin faced selling pressure once again as it was rejected from the upper band within the channel movement observed since the beginning of December.

Speculation about a «Santa Claus rally» dominates financial discussions every December, irrespective of the market's annual performance.

SJVN Ltd has secured Rs 10,000 crore construction finance facility to fund its upcoming renewable energy projects from a group of leading domestic and international lenders. The construction finance facility is a unique and first-of-its-kind transaction undertaken by a PSU entity and Public Sector Banks, a company statement said on Friday. According to the statement, SJVN has secured Rs 10,000 crore (USD 1.2 billion) construction finance facility to fund its upcoming renewable power projects from a group of leading domestic and international lenders.

BSE Sensex rose around 20 per cent in 2023, their second-best year since 2017, and were among the top-performing stock indexes globally. The broader small- and mid-caps gained about 55.62 per cent and 46.57 per cent in 2023, far outperforming the blue-chip indexes despite valuation concerns.

Binance, the largest cryptocurrency exchange in the world, and Changpeng Zhao (CZ), the company's former chief executive officer, have been ordered to pay a hefty financial penalty according to the United States District Court for the Northern District of Illinois. A significant enforcement action that was begun by the Commodity Futures Trading Commission (CFTC) has been brought to a successful conclusion by this ruling.

Wipro and Tech Mahindra are likely to see a decline in their respective year-on-year (YoY) and quarter to quarter (QoQ) revenue in the December quarter, according to a report by Kotak Institutional Equities. “We expect a weak quarter for IT Services companies as furloughs, weak discretionary spending and project cuts impact performance. Three of the big five IT services companies should report a yoy and qoq decline in revenues in the December 2023E quarter, while growth for the other two will trickle down to low-single digits," the report said.

Uber (NYSE:UBER) was cut to Neutral from Buy at Nomura on Friday, with analysts increasing the price target on the stock to $62 from $59 per share in a note Friday.

MOSCOW (Reuters) — Russia's state-run carmaker Avtovaz said on Thursday it plans to increase production of its Lada-brand cars to 500,000 next year after targets for 2023 were hit by U.S. sanctions.

UltraTech Cement, ACC, Shree Cements, Ambuja Cements, Ramco Cements and Dalmia Bharat ended 2-6% higher for the week. Benchmarks Nifty 50 and Sensex gained up to 2% each, testing record highs during the week. “We upgrade our view on India’s cement industry on account of potential stronger sales volume growth, better pricing discipline, and roll forward our valuations to FY26F,” Nomura India said in a note to its clients on Wednesday. Demand between Oct-Mar is likely to be 11% higher as compared to Apr-Sep, and 13% higher as compared to the same period the previous year, the brokerage said, raising target prices for the companies under its coverage by 11-28%. Shares of most of these companies, except for ACC and Ambuja, have had a strong run in 2023, gaining between 23-51% so far in the year helped by demand from infrastructure and housing projects. Sales volume for the industry is likely to grow at a compounded annual growth rate of 5% between 2023-26 (Apr-Mar), a 100 basis points higher than the 4% growth seen over the last decade, the brokerage said.

BERLIN (Reuters) -Hapag-Lloyd has decided to continue diverting its vessels around the Suez Canal for security reasons, a spokesperson for the German container shipper told Reuters on Friday, adding a next assessment would be made on Jan. 2.

(Reuters) — U.S. stock index futures edged up in light trading on the final day of a turbulent 2023, with the benchmark S&P 500 and the Dow hovering around record-highs on growing expectations the Federal Reserve will cut interest rates early next year.

Investing.com — U.S. stock futures edged higher Friday, looking set to end a strong year on a positive note.

Investing.com — Wall Street looks set to end the year on a positive note, as traders await next week’s crucial payrolls report. Boeing received some positive news from China, while Nvidia launched a new gaming chip in the important Chinese market.