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climate change and sovereign debt, the global pandemic of industrial policy initiatives deserves to be on the agenda. From Magdeburg in east central Germany, where Intel was reportedly given subsidies of €7 billion to build a semiconductor factory, to a Taiwanese battery factory near Dunkirk in France lured by subsidies of €1.5 billion to the Micron Technology factory in Gujarat, more than two-thirds of which will be financed by the central and state governments, subsidies in the name of fostering strategic industries have gone viral.

Fortescue’s radical green reinvention triggered the exit of departing chief executive Fiona Hick, who faced a choice to “get on the bus, or get off the bus”, according to executive chairman Andrew Forrest.

Indian Oil Corp is planning to boost its natural gas consumption two-and-a-half times by 2030 in its quest for carbon neutrality, its refinery chief has said. Indian Oil has set a net zero operational emissions target by 2046 and increasing the use of less-emitting gas is a key element of that plan. «Our natural gas consumption strategy is part of the national goal to increase the share of gas in primary energy consumption to 15% by 2030 from the current 6%,» Sukla Mistry, Director (Refineries), told ET. Currently, Indian Oil's refineries together consume about 8.5 million metric standard cubic meters a day (mmscmd) of natural gas.

IndiaRF), a special situations investment platform sponsored by Piramal Enterprises and Bain Capital Credit, has started talks with its limited partners (LPs) to raise its second fund that seeks to garner up to $1 billion, sources aware of the development told ET. The first fund had a corpus of $629 million with two main LPs — Canadian pension fund manager Canada Pension Plan Investment Board (CPPIB) and World Bank arm IFC. CPPIB had committed $225 million to the fund, while IFC invested $100 million. Piramal group and Bain Capital Credit invested $100 million each as sponsors. «Bain and the two main limited partners CPPIB and IFC are on board with the plans for the second fund.

Piramal Enterprises plans to double its loan book by FY28, with close to 70% of the portfolio comprising retail loans, said its chairman, Ajay Piramal. In an interview to ET's Deborshi Chaki, he said as part of the growth strategy, the company plans to reduce the ticket size of its wholesale book, lend to mid-sized corporates and exit its legacy wholesale book. Edited excerpts:

East Bengal's remarkable victory against NorthEast United FC in the Durand Cup semifinal was overshadowed by allegations of racism, with the visiting team fans reporting instances of racial slurs and being targeted with stones and slippers during the match. The 16-time champions exhibited one of the greatest comebacks as they overturned a two-goal deficit in the last two minutes and secured a thrilling 5-3 victory in penalties to make the Durand Cup final after 19 years. However, the scenes that unfolded after the match painted a grim picture as the NEUFC fans, numbering about 100-odd, claimed that the supporters of the Red and Gold brigade aimed projectiles and slurs at them. The match witnessed an attendance of about 22,000-plus spectators. Such was the condition that immediate intervention by the Indian Army and local police was required to ensure safe exit of NorthEast United FC supporters. However there has been no official complaint regarding the alleged incident as yet.

Nobel laureate Professor Muhammad Yunus, more than 170 global leaders, including former US president Barack Obama, have urged Bangladesh Prime Minister Sheikh Hasina to suspend all legal actions against the pioneer of microfinancing. Yunus, 83, won the Nobel Peace Prize in 2006 for his anti-poverty campaign, earning Bangladesh the repute of being the home of microcredit through his Grameen Bank, which he founded in 1983. More than 170 global leaders and Nobel laureates wrote an open letter to Prime Minister Hasina, urging her to suspend legal proceedings against Yunus. The signatories included Obama, former UN Secretary-General Ban Ki-moon, former US Secretary of State Hillary Clinton and more than 100 Nobel laureates. «One of the threats to human rights that concern us in the present context is the case of Nobel Peace Prize laureate Prof.

Japan’s Prime Minister Fumio Kishida and three Cabinet ministers have eaten Fukushima fish sashimi at a lunch meeting in an apparent effort to show that fish is safe following the release of treated radioactive wastewater from the Fukushima Daiichi nuc...

A Saudi court has sentenced a man to death over his posts on X, formerly known as Twitter, and his activity on YouTube

Retirement is a remarkable milestone in someone’s life, when individuals stop working after a certain age and start enjoying the fruits of their labor. People usually retire around their 60s or 70s, but this can vary from person to person.

HDFC Asset ManagementCompany (HDFC AMC), investment manager to HDFC Mutual Fund (HDFC MF), announced the launch of open-ended equity scheme - HDFC Technology Fund. The scheme intends to invest in technology and technology related companies with a bottom-up approach for stock selection. It aims to embrace the techvolution and invest in the potential of the future.

Here's how analysts interpret the market pulse: «Positive sentiment initially propelled domestic equities, buoyed by softer US labor market data that caused a retreat in US bond yields, alleviating concerns about rate hikes. This positive outlook was reinforced by Chinese banks' move to reduce existing mortgage rates, favorably impacting Indian metal stocks.

Biocon Biologics is on track to integrate a major part of the acquired biosimilars business of long-term partner Viatris in the current fiscal, the company's Executive Chairperson Kiran Mazumdar-Shaw has said. Biocon Biologics, a unit of the Bengaluru-based biotechnology major, had announced earlier this year that it has completed the integration of the acquired biosimilars business from Viatris in over 70 countries in emerging markets effective July 1, 2023. Now, it is looking to integrate the acquired biosimilars business in the remaining markets like North America and Europe. «We are on track to integrate a major part of the acquired business in a phased manner during FY24,» Mazumdar-Shaw said in her address to the company's shareholders in the Annual Report for 2022-23, which was released on Wednesday. Direct commercial presence in many global markets will allow Biocon Biologics to devise more sustainable and targeted strategies to make biosimilars accessible to the maximum number of patients and healthcare providers, she added.

gun culture mass shooting incidents in the US.Australia Australia warned its citizens of the gun culture in the US, told them that shooting incidents are frequent in that country, and warned them that gun crime is possible in all areas. It said, “Violent crime is more common than in Australia. Gun crime is also prevalent. If you live in the US, learn and practice active shooter drills.

Commerce Secretary Gina Raimondo says she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictabl...

The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said in a downgrade from its initial estimate

Nifty failed to reclaim the short-term moving average i.e. 20 EMA despite positive global cues to form a long negative candle on the daily chart as it ended 5 points higher. Technically, this pattern indicates a bearish counterattack-type candle pattern after a small bounce.

drone attack on Russian soil in the 18 months of fighting in Ukraine. Drones hit an airport in the western Pskov region and were shot down over the regions of Oryol, Bryansk, Ryazan and Kaluga. The strike in Pskov started a massive fire and four Il-78 transport aircraft were damaged, Russia's state news agency Tass reported, citing emergency officials. Pskov regional Gov. Mikhail Vedernikov ordered all flights to and from the Pskov airport canceled Wednesday, citing the need to assess the damage during daylight. Footage and images posted on social media overnight showed smoke billowing over the city of Pskov, and a large blaze.

Most OEMs are targeting the young buyers for electric two wheelers and elevating the technology pitch to showcase their aspirational products.TVS Motor Company, which recently launched its new high performance EV called 'X', is also targeting the Gen-Z with its technology-high features. Away from a traditional scooter body style, X is being touted as a ‘crossover’ of scooter and motorcycle. Far away from similarities with the existing iQube, X is built on a new platform and TVS said its in-house R&D team made significant contributions to the development of this technologically advanced product and its electronic and software architecture.ALSO READ: TVS Motor to double EV volume With the connectivity and features intact, TVS X gives a touch and feel of a premium two wheeler.

Rajeev Radhakrishnan, Head-Fixed Income, SBI Mutual Fund, says “the bigger comfort from a fixed income perspective today is that a significant amount of tightening has already been done. Secondly, even when you look at a one-year ahead estimate basis on inflation, even if you assume the expected average inflation to be about 5.5%, fixed income yields today are anywhere between 7% and 8% depending on tenors. So a one-year T-bill today is trading north of 7%. We still have real returns available in fixed income instruments in India today. That, apart from the diversification angle that you did mention initially, would be the key investment points from the Indian fixed income angle. ”A lot of data is coming in where investors are looking very keen on investing in fixed deposits and looking at the interest rate trajectory so far, where debt looks very attractive for all those investors who want to maybe rebalance their portfolio or have a debt exposure. But going ahead, what is the story that you see brewing because in India, if we talk about domestic triggers, inflation still remains a concern, monsoon is predicted to be a dampener in September also. Seeing the kind of situation that is emerging, what is likely on the interest rate front?Coming to some of the factors you mentioned in terms of potential risk factors from a fixed income market perspective, we still have inflation which is fairly elevated and above the upper end of the policy target.

Narendra Modi in the upcoming general elections due next year. The saffron party called PM Modi ‘The Terminator’ who always wins, while telling the Opposition bloc to continue dreaming about PM Modi’s defeat in the 2024 Lok Sabha polls. “2024! I'll be back!" the BJP's social media campaign read.