Giri world

Starting from January 1, 2024, health insurance policies in India will be required to provide a concise summary of coverage details, waiting periods, limits, and exclusions in a customer information sheet (CIS). Policyholders will also have a 15-day "free-look" period to cancel their cover if they suspect mis-selling. The aim is to increase transparency and policyholder awareness. The CIS will also highlight policyholders' rights and their obligation to disclose relevant health information for claim settlements. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/N3BbIxS >

Mamaearth's parent company, Honasa Consumer, has raised ₹765.2 crore from 49 anchor investors ahead of its IPO launch on October 31. The company has also allocated shares worth ₹253.6 crore to domestic mutual funds. Mamaearth's IPO consists of a fresh issue of shares worth ₹365 crore and an offer for sale of up to 4.12 crore shares. Promoters, founders, and investors will be offering shares in the OFS. The IPO is expected to fetch about ₹1,701 crore at the upper end of the price band. The offer will close on November 2. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5qG6HLV >

Niti Aayog, the Centre's think tank, will consult with business and thought leaders including Mukesh Ambani, N Chandrasekharan, Sundar Pichai, Gautam Adani, and others to gather input for a vision document aimed at making India a developed nation by 2047. The consultations will take place in Delhi and Mumbai in November, with the draft document expected to be ready by December. Niti Aayog was given the responsibility in July 2023 to consolidate sectoral visions into a national vision for Viksit Bharat@2047. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jTY452O >

VinFast recently expressed its intention to establish a manufacturing facility in India. The company is set to invest approximately $200 million. The Vietnamese electric vehicle manufacturer is widely seen as a rival to Elon Musk's Tesla. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Naq3OxB >

Stock markets this week will be influenced by the US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements, and quarterly earnings. The outcome of the Federal Reserve meeting and the policy decisions of the Bank of Japan will be closely watched. Economic data releases from the US and China, as well as geopolitical situations, will also impact market sentiment. In a holiday-shortened last week, the BSE benchmark tanked 1,614.82 points or 2.46 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IsTr8Rk >

Apple's India business almost touched a record milestone of Rs 50,000-crore revenue, with sales growing by 48% to Rs 49,321 crore in the fiscal year 2022-23. Analysts attribute this growth to a higher share of sales of new generation devices and a reduction in component costs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/46xf3SN >

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ShyamVNL, an Indian company specializing in cyber intelligence and security, has developed a technology to combat illegal mobile phone usage in prisons. The solution, unveiled at a defense and security exhibition in New Delhi, blocks mobile phone usage within a coverage area and provides mobile identity detection and location tracking. The technology aims to put control in the hands of prison authorities, eliminating dependence on mobile operators and enhancing security in prisons and other critical sites. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rbujDlk >

A top supplier to companies such as Apple, Samsung, Xiaomi, Vivo, and Oppo, this will be Corning's first manufacturing investment in India for glass. The company looks to not only cater to mobile phone makers but also to other segments, such as, notebooks, tablets, and smartwatches, John Bayne, senior VP and GM for Corning's Mobile Consumer Business, said. Bayne said the company, will cater to large local and global smartphone ecosystem, while it will consider exports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0ZFE2hj >

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The Sensex fell below the 64,000 mark for the first time in four months due to global factors impacting investor sentiment. The index closed 523 points down at 64,049, with 24 of 30 Sensex constituents in the red. Foreign funds recorded a net outflow of Rs 4,237 crore, while domestic funds were net buyers. Global factors such as the Israel-Hamas conflict, crude oil price volatility, and rising US government bond yields have led to a 'risk-off' sentiment among investors, resulting in strong selling by foreign portfolio investors in the Indian market. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SQOjv1f >

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Reliance General Insurance has obtained a legal opinion that states IndusInd Holding's resolution plan cannot extinguish any stock options or other employee benefits. IndusInd International Holdings has emerged as the successful bidder for Reliance Capital. RCap's most valuable holdings are the shares it owns in its 100% subsidiary Reliance General Insurance. IndusInd Holding's resolution plan involves raising funds to pay creditors of Reliance Capital by creating a charge on the shares of Reliance General Insurance. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NolnMRP >

Canada and Taiwan have concluded talks on a bilateral deal to enhance foreign investment. The deal aims to boost Taiwan's diplomatic and moral support from major Western democracies, such as Canada, as it faces mounting pressure from China. The agreement, called the Foreign Investment Promotion and Protection Arrangement, is part of Canada's strategy to expand trade and influence in the Indo-Pacific region. Trade between Canada and Taiwan reached C$10.2 billion in 2021. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/mEd2CoU >

Microsoft reported better-than-expected fiscal first-quarter results, driven by growth in its cloud computing and PC businesses. The company's revenue rose 13% to $56.5 billion, exceeding analysts' estimates. Revenue from its Intelligent Cloud unit, which includes its Azure cloud-computing platform, grew to $24.3 billion, surpassing expectations. Microsoft's strong messaging on its AI technology is attracting companies to consider them more seriously. The company's capital expenditures for AI software are expected to exceed $44 billion this fiscal year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eZfY47q >

Officials from Pakistan and Afghanistan met to discuss border management issues and the evacuation of illegal Afghan citizens living in Pakistan. The Pakistani government has set a deadline of November 1 for all illegal Afghan nationals to leave the country. The meeting focused on providing facilities to Afghan refugees crossing the border, including patients, and ensuring a smooth and organized evacuation process. There was also an emphasis on addressing the challenges faced by patients at the border. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/S59dN68 >

Chevron agreed to buy Hess for $53 billion - a deal aimed at boosting production growth as the US oil industry bets on an enduring future for fossil fuels. In an all-stock transaction, Chevron will pay $171 per share for Hess, a premium of about 10% to the 20-day average price, according to a statement from the companies on Monday. Hess shareholders will receive 1.025 shares of Chevron for each Hess share, giving the company a total enterprise value of $60 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/a5qtyrM >

Juventus initiated talks with banks to create a syndicate for a planned capital increase of up to €200 million following the board's approval. "The company is considering the opportunity to engage a syndicate for the subscription of any newly-issued shares that remain unsubscribed and, for this purpose, has initiated contacts with leading banking institutions," it said in a statement. Juventus said the capital increase was expected to be executed in the first four months of next year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6eSgtk9 >

Foxconn's annual technology event in Taiwan, Hon Hai Tech Day (HHTD) 2023, showcased the growing presence of India as a key partner for the electronics giant. The event saw an increase in the number of Indian employees, executives from Indian companies, and government officials attending. Foxconn's India representative shared images of the event on LinkedIn, highlighting the company's ambitions in India, particularly in the areas of electric vehicles and semiconductors. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WLkZR6Y >

Banks in India are seeing a rise in stress related to small unsecured personal loans as borrowers with low incomes struggle to repay their debts. Yes Bank and Kotak Mahindra Bank report higher delinquencies compared to last year, while ICICI Bank is seeing the most distress in the below Rs 50,000 loan segment. RBI has expressed concerns over the increase in unsecured loans and is closely monitoring the situation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/aAsB01N >

China's natural resources department conducted on-site investigations on the land use of enterprises of Foxconn in Henan, Hubei provinces and other places, according to the exclusive report in the Global Times. It did not elaborate on the investigations or the timing of them. "Foxconn's subsidiaries are obliged to actively cooperate with audits and investigations, and if there are indeed violations of laws and regulations, they should admit mistakes and accept penalties and step up rectification," Zhang, deputy dean of the Taiwan Research Institute of Xiamen University, said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GvKF2ym >

The US has imposed sanctions on three China-based companies for supplying missile-related items to Pakistan's ballistic missile program. The sanctions were imposed as part of the global nonproliferation regime. China has been a major supplier of arms and defense equipment to Pakistan. The sanctioned firms include General Technology, Beijing Luo Luo Technology Development Co, and Changzhou Utek Composite Company. They have been involved in activities that contribute to the proliferation of weapons of mass destruction or their means of delivery. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UuG9vIa >

The Municipal Corporation of Delhi (MCD) has imposed a penalty of Rs 5 lakh on a subsidiary of Godrej Properties for not taking environment safety precautions in construction works at its project site here. In a regulatory filing on Saturday, Godrej Properties informed that its subsidiary Godrej Vestamark LLP on October 16 received an order in this regard under the Delhi Municipal Corporation Act 1957. Godrej Properties is one of the leading real estate firms in the country. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tu20FJo >

Finance Minister Nirmala Sitharaman has highlighted terrorism as a concern that businesses should consider when making investment decisions, noting that supply chains are being disrupted due to ongoing wars. She emphasized that investors and businesses must factor in the impact of global terror on their decision-making. Sitharaman also discussed the challenges of energy transition for climate change and the need for climate finance for developing and poor countries. Additionally, she mentioned the government's focus on reducing debt and responsible spending. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/onfSwgy >

Wall Street declined due to mixed earnings, concerns about further interest rate hikes from the Federal Reserve, and worries about escalating conflict in the Middle East. The yield on 10-year US Treasury notes briefly surpassed 5%, the first time since July 2007. Tech stocks were particularly affected, pulling down the Nasdaq. Investors were urged to focus on strong company earnings and guidance. Federal Reserve Chairman Jerome Powell's comments left open the possibility of another rate hike. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1eZV6Wy >

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Oil prices rose on Thursday amid concerns that the conflict between Israel and Gaza could escalate into a regional conflict. Brent futures settled up 1% at $92.38 a barrel, while US West Texas Intermediate (WTI) futures settled up 1.2% at $89.37 a barrel. The potential for escalation, particularly from the Arab world, is a concern. However, gains were limited after the US issued a six-month license authorizing transactions in Venezuela's energy sector. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7RL40y8 >

Union Pacific reported a 19% decline in third-quarter profit due to lower shipments and high costs. However, the average speed of its trains improved by 5% under the leadership of new CEO Jim Vena. The company earned $1.53 billion. Although the number of shipments decreased by 3%, costs improved by 4%. Union Pacific's revenue also fell by 10% to $5.9 billion. Vena aims to push decision making to lower levels and eliminate bureaucracy to improve efficiency. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/r3NK8E6 >

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The sensex fell by 551 points due to spiking crude oil prices and geopolitical tensions in West Asia. Banking & financial stocks, as well as Reliance Industries, were major contributors to the slide. Investors are concerned about surging crude oil prices impacting inflation and interest rates. Foreign funds selling Indian stocks also weighed on sentiment, with net outflows for the second consecutive month. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7IRj5fs >

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Netflix has raised subscription prices for its streaming plans in the US, UK, and France, following a surge in new customer sign-ups. The company gained nearly 9 million new customers worldwide, surpassing Wall Street's forecast of 6 million. Netflix attributed the growth to its crackdown on password-sharing and the success of new programming such as "One Piece." from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JK4GRng >

Dabur, an Indian FMCG company, has revealed that three of its foreign subsidiaries are facing legal cases in the US and Canada. The cases relate to allegations that hair relaxer products containing certain chemicals have caused health issues, including ovarian and uterine cancer. The cases are currently in the early stages of litigation, with the total number of cases reaching approximately 5,400. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BvzHhj7 >

The IMF director for Asia-Pacific, Krishna Srinivasan, explained the agency's stance on currency market intervention and other economic policies in an interview. He discussed the impact of China's slowdown on the Asia-Pacific region and India, emphasizing the strong linkages between countries and the indirect effects of China's slowdown on the world. Srinivasan also mentioned the gradual shift away from China in global value chains and the potential for India to become a manufacturing hub. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7UuWZEm >

RBI inspected the books of ICICI Bank in 2020 and 2021 to evaluate its financial status. During the inspection, RBI found that the bank had given loans to companies where two of the lender’s directors held board positions — in violation of RBI guidelines. The bank also marketed and sold non-financial products, which are outside the remit of a commercial bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Gtm0QdU >

Wholesale price inflation in India remained negative for the sixth consecutive month in September, but the contraction was narrower compared to previous months. The annual rate of inflation, as measured by the Wholesale Price Index, contracted by 0.3% in September, slower than the 0.5% decline in August. Deflation in September was primarily due to falling prices of chemical products, mineral oils, textiles, basic metals, and food products. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bR3OnPL >

The Indian rupee closed at a record low of 83.28 against the US dollar, despite the Reserve Bank of India (RBI) selling US currency. The rupee's decline is attributed to concerns about the Israel-Hamas conflict potentially involving neighboring countries, leading to higher oil prices. The currency market is reacting to these tensions, and if the conflict escalates, oil prices could rise further. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H1p3WbS >

HDFC Bank reported a net profit of Rs 15,976 crore for the September quarter, following its amalgamation with parent HDFC. The bank's consolidated net profit stood at Rs 16,811 crore, better than expectations. However, the bank's margins declined due to the additional funds raised for the merger and the different nature of HDFC Bank's business compared to HDFC. The bank's net interest margin dropped to 3.4% post-merger. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/J7wfr16 >

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The dollar strengthened as tensions in the Middle East increased and investors awaited a speech by Federal Reserve Chair Jerome Powell for insight into the US central bank's rate outlook. The Israeli shekel fell to an eight-year low against the dollar after Prime Minister Benjamin Netanyahu vowed to "demolish Hamas". from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/s2KLz0V >

Oil prices declined in early Asia trade on Monday as investors awaited the possibility of the Israel-Hamas conflict involving other countries, which could further increase prices and impact the global economy. Brent futures fell 0.4% to $90.53 per barrel, while US West Texas Intermediate (WTI) crude dropped 0.4% to $87.32 a barrel. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/l1LQOsH >

The US government is set to implement new rules to prevent American chipmakers from selling products to China that bypass government restrictions on exports. The move comes as part of the Biden administration's efforts to block the export of AI chips. While chips for consumer products will be exempt, the restrictions could complicate diplomatic relations between the US and China. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jH1NKqQ >

Finance Minister Nirmala Sitharaman has called on the private sector to support the Sustainable Development Goals (SDGs), stating that it is the collective responsibility of all stakeholders to contribute. Speaking at an event in Morocco, Sitharaman expressed confidence that reforms in multilateral development banks (MDBs) prompted by G20 deliberations will increase investments in developing nations. She highlighted the need for global cooperation and innovative financing approaches to bridge the financing gap for achieving the SDGs by 2030. Sitharaman also emphasized the need for MDBs to be reformed in order to address the challenges of the 21st century. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/U5ANb6r >

California Governor Gavin Newsom has signed a bill that will raise wages for fast-food workers across the state. The legislation establishes the highest minimum wage for fast-food employees in the industry nationwide, but has faced criticism from the National Owners Association (NOA) for its strict regulations. The bill also creates a council with the power to approve future wage increases. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TboWqyh >

Reserve Bank of India (RBI) Governor Shaktikanta Das has been awarded an 'A+' ranking in the Global Finance Central Banker Report Cards 2023. The report cards recognize central bank governors who have outperformed their peers in terms of originality, creativity, and tenacity. Das was placed at the top of the list alongside Switzerland's Thomas J Jordan and Vietnam's Nguyen Thi Hong. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ac7MzrB >

"Fire-breathing dragon" concept represents a leader who is fiercely competitive and uncompromising in their pursuit of success. However, many leaders and experts argue that such an approach is not sustainable. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4O5ljXb >

The country's exports dipped by 2.5% in September to $34.5 billion and the trade deficit narrowed to $19.3 billion, official data released on Friday showed. The data showed imports contracted 15.1% in September to $53.8 billion from $63.4 billion in the year earlier month. The country's overall exports (merchandise and services combined) in September were estimated at $63.8 billion, exhibiting a contraction of 1.2% compared to September 2022. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/A37TV1l >

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The U.S. labor board has accused Elon Musk's X, formerly known as Twitter, of illegally firing an employee in retaliation for her internet posts challenging the company's return-to-office policy. The National Labor Relations Board (NLRB) alleged that X violated federal law by punishing employees for communicating and organizing about their working conditions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OF3bRjT >

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In its efforts to meet the shortage of formal holistic education for product managers, who hold the key to innovations and their company's overall strategies and goals, Hari Shankar Singhania School of Business (HSB), set up under the aegis of Jaipur's JK Lakshmipat University (JKLU), has launched the country's first full-time MBA programme with a niche product management specialisation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sgHcwCO >

RBI Governor Shaktikanta Das has defended the central bank's policy of intervening in markets to prevent extreme volatility. He called on global agencies, such as the IMF, to avoid labeling countries as "currency manipulators" or adding them to watchlists. Das emphasized the importance of strong foreign exchange reserves, citing India's $587 billion reserves as a buffer against capital outflows and the spillover effects of actions taken by advanced economies. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nJvNRIc >

An independent expert group has proposed reforms to strengthen multilateral development banks (MDBs) and increase lending to countries. The group suggests mobilizing $240 billion from the private sector to reach a lending goal of $390 billion by 2030. The group emphasizes the need for collaboration and inclusivity, following the G20 Summit's example. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tXIUHS2 >

India's finance minister, Nirmala Sitharaman, highlighted domestic consumption and investment as key drivers of the country's growth. She also cautioned against inflationary pressures due to global uncertainties and emphasized the need for vigilance from the government and the Reserve Bank of India. Sitharaman acknowledged the impact of the slowdown in global demand on India's goods exports and suggested the need to strengthen the external sector. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JqhInVx >

Retail inflation in India eased to a three-month low in September due to moderating food prices, bringing relief from surging price pressures. The Consumer Price Index (CPI) rose by 5% annually in September, slower than the 6.8% in August and below the Reserve Bank of India's upper tolerance band. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/t1KqMwb >

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