INDIAN ECONOMY
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The next phase of India-UAE relations will focus on further strengthening existing areas of cooperation while expanding into new sectors linked to advanced technology, research and the digital economy, UAE BRICS Sherpa Omran Sharaf said on Sunday on the sidelines of the 18th BRICS Summit.
Speaking to ANI, Sh...
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Uttar Pradesh has strengthened its trade engagement with BRICS members and partner nations, recording exports worth Rs 47,484 crore to these markets, as the state steps up efforts to expand the global footprint of its traditional industries, manufacturing units and locally produced goods.
Of the total export...
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BRICS countries are pushing for greater use of national currencies in trade and investment and interoperability of cross-border payment systems to cut transaction costs, even as the grouping stepped up criticism of unilateral tariffs and protectionist measures. “There is no proposal in the BRICS for a BRICS c...
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Prime Minister Narendra Modi and Chinese President Xi Jinping on Saturday underlined the need to address each other’s concerns on trade and economic relations, including New Delhi’s widening trade deficit with Beijing, market-access barriers and supply-chain vulnerabilities.
At their meeting on the sidelin...
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India supplied 70% of Russia’s oil-product imports in August, shipping 120,000 tonne of petrol worth €78 million from Nayara Energy’s Vadinar refinery, as sustained Ukrainian strikes on Russian refineries forced Moscow to increasingly buy back fuel processed from its own crude. Russia imported a record 172,00...
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India’s nascent carbon market is rapidly moving beyond a domestic emissions-compliance mechanism to become a trade and industrial competitiveness tool, as the government begins integrating carbon pricing into its trade strategy and overseas markets start recognising costs paid under the country’s Carbon Credi...
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From European cars and chocolates in India to Indian garments and footwear in Europe, a wide range of goods could become cheaper under the India-EU Free Trade Agreement (FTA), which has moved closer to formal signing. The European Commission has sent the pact to the European Council for approval, advancing an...
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MARKET & FINANCE
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Foreign investors pulled out Rs 13,138 crore from Indian equities in the first half of Sept, as heightened global uncertainty pushed crude oil prices higher, while rising US bond yields and a firm dollar weighed on risk appetite.
The latest outflow comes after Foreign Portfolio Investors (FPIs) turned net bu...
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Globally, interest rates are headed northwards, and clearly so. The United States (US) 30-year Treasury bond yield is at a 19-year high. Japan 10-year government bond yield is at a 30-year high. Technically, bond yields and interest rates are different. Bond yields are traded levels in the secondary market. I...
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GLOBAL CORPORATE
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A growing consumer push to buy Canadian and boycott U.S. products is reshaping supermarket shelves in Canada, forcing grocers to improve country-of-origin labeling and secure new sources of supply....
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Anthropic CEO Dario Amodei called on AI companies to slow the rate at which they advance model capabilities amid mounting fears of misuse of artificial intelligence, outlining a three-step framework intended to pace development and create more time to manage its risks....
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Banking
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India is exploring linking its central bank digital currency (CBDC) with those of several BRICS partner countries to facilitate faster and more efficient cross-border payments, with discussions with Thailand, Malaysia and Vietnam in advanced stages, government sources said. The discussions are part of India's...
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RBI has proposed a new framework under which banks will temporarily freeze only the disputed transaction amount, rather than the entire account, when unusual transfers of Rs 1,000 or more are flagged as potentially linked to mule accounts or cyber fraud. Banks will be required to use Al-based transaction moni...
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Leaders of BRICS countries on Saturday resolved to expand the membership of the New Development Bank (NDB), also known as BRICS Bank, and create new financing mechanisms to support infrastructure and development across the Global South.
As per the New Delhi Declaration adopted by the grouping, apart from r...
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GLOBAL ECONOMY
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Prime Minister Giorgia Meloni expects Italy's economy to grow by 1% this year, in line with the euro zone, she said in an interview with newspaper Il Foglio published on Saturday....
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US President Donald Trump said on Sunday that no country should have lower interest rates than the United States, stepping up pressure on the Federal Reserve days before its next policy meeting as central banks around the world fa...
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Russia and Iran on Friday called for strengthening BRICS financial and trade mechanisms, including an expanded role for the New Development Bank (NDB), greater use of local currencies and new instruments to mobilise private capita...
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Chinese President Xi Jinping on Sunday proposed a network linking special economic zones across BRICS economies as the expanded grouping moves to deepen trade, investment and supply-chain integration....
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INDIAN CORPORATE
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India will play a bigger role in Finnish telecom gear maker Nokia’s global supply chains as the company proposes to make it a manufacturing and export base. However, a fairly steep cost disadvantage for some locally- sourced compo...
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Insolvency
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The insolvency regulator is looking to tighten rules aimed at preventing related parties of personal guarantors from influencing loan repayment plans. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) sugg...
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