Two-wheeler exports from India have decreased by 20 per cent year-on-year (Y-o-Y) to 1.69 million units in the first half (H1) of 2023-24 (FY24) due to a challenging geopolitical situation and foreign exchange (forex) crises in key markets such as South Asia, industry body Society of Indian Automobile Manufacturers (Siam) said on Monday. On the other hand, passenger vehicle (PV) exports in H1FY24 increased by 5 per cent to 336,754 units because the key markets are much more diversified worldwide, Vinod Aggarwal, president, Siam, told reporters during a press conference. The Russia-Ukraine war, which started in February 2022, has brought significant instability to global fuel prices.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
Mountaineer Ajeet Bajaj and his 28-year-old daughter Deeya Bajaj are the first Indians to complete the Explorers Grand Slam.
Maruti Suzuki India on Tuesday reported a 28 per cent rise in exports at 263,068 units in 2022, its highest ever overseas shipments. The company's previous highest exports was achieved in 2021 with 205,450 units. The highest exported models in 2022 were Dzire, Swift, S-Presso, Baleno and Brezza, the company said in a statement.
India saw a huge surge in ransomware and IoT cyber attacks in the first half of 2023, as criminals shifted to stealthier means of malicious activities, according to a report by SonicWall. While major economies like the US and the UK witnessed a decline in ransomware attacks, India (up 133 per cent) and Germany (52 per cent) are among the countries that saw a huge surge in such attacks, the 2023 SonicWall Mid-Year Cyber Threat Report for the January-June period stated. At the global level, a variety of other attacks have trended up, including cryptojacking (399 per cent), IoT malware (37 per cent) and encrypted threats (22 per cent), the report said.
UPL, the country's largest agrochemical company, had a weak July-September quarter (Q2), reporting a sharp fall in revenues across geographies. Overall, the revenues were down 19 per cent on the back of lower agrochemical prices and inventory destocking. While the overall volumes were down 7 per cent, prices fell by 15 per cent. Volume decline in the European market was on the back of high channel inventory and product bans while in India the fall by 27 per cent was on account of muted demand for segments such as cotton and pulses.
'It is great news (cricket in Olympics) if you are a business-person. America has a large section of Asian expats, who are crazy about cricket and they will fill the stadium and of course will follow the game on TV or streaming apps.'
Embracing the past and the present, Mexico City pulsates with warmth and vibrancy, discovers Payal Singh Mohanka.
External Affairs Minister S Jaishankar on Monday (local time) took a veiled dig at Pakistan and said that it is very difficult to engage with a neighbour, who practises cross-border terrorism against India.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
Russian Foreign Minister Sergey Lavrov said Moscow sees the prospect of making the Security Council more democratic, exclusively, through broadening the representation of countries from Africa, Asia and Latin America.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
'Our study finds that only about 20% of Indians are vegetarians and the rest of the 80% are non-vegetarians or meat-eaters.'
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank's India employees a glimmer of hope. The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse's India unit and better synergies at key verticals, such as wealth management and investment banking. "UBS is a much stronger hand. Coming within its fold will give Credit Suisse's wealth management and investment banking divisions a good home.
Clock 11% growth in the first 11 months of 2022.
After being underweight on domestic agrochemical companies and preferring global plays, brokerages believe that the former may perform better in the quarters ahead. Domestic crop protection companies have faced multiple headwinds over the past year and a half, given high inventory costs, pricing pressures, lower realisations in the generic segment, increased stocks due to lower infestations, and demand-led hits to volumes. Some of the overhang from previous quarters was reflected in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24) as well, with aggregate revenues and operating profit for the sector down 12 per cent and 27 per cent, respectively.
2023 was a good year for international cinema with many strong films premiering at the Berlin, Cannes, Venice and Toronto film festivals.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Starbucks' new Indian-origin CEO Laxman Narasimhan has said he will work as a barista once a month in stores to stay close to the company's culture, customers, challenges and opportunities.
On Pakistan, the publication quoted him as saying that India wants "normal and neighborly relations."
The stock of India's largest agrochemical player - UPL (formerly United Phosphorus) - fell 2.8 per cent in trade. It was among the top losers in the BSE 100 on Tuesday. Weak 2022-23 (FY23) January-March quarter (fourth quarter, or Q4) performance and muted near-term outlook led to the decline. The company reported lacklustre growth in revenue of 4 per cent on the back of a price reduction of 3 per cent and volume growth of 1 per cent.
Eight of the newly named cardinals are from Europe, six from Asia, two from Africa, one from North America, and four from Central and Latin America.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
'Three decades of intensive discussions, protocols and Confidence Building Measures were jettisoned one fine morning in 2020.' 'The primary lesson that has been learnt is that that there is no reliability about the Chinese.'
Its success script: Investing more in local content ecosystem; growing its partnership footprint.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
Addressing the G-20 University Connect initiative, the first event of India's presidency of the grouping, Jaishankar said it would also be India's endeavour to emerge as the voice of the Global South -- comprising Asia, Africa and Latin America -- that has to face the brunt of polarisation and conflict in the developed world.
The broader economy risks a potential flight of foreign portfolio capital, therefore pressure on the rupee and more bad news on the stock market, warns T N Ninan.
Ghana had always been expected to struggle at this World Cup after an unconvincing qualifying campaign in which a Nigerian goalkeeping howler saw them win a fortunate place in Qatar.
Argentina and Mexico fans lit up the World Cup on Saturday with their vast and vociferous followings creating a thunderous atmosphere in and around Qatar's Lusail Stadium.
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
External Affairs minister S Jaishankar in New York praised the leadership skills of Prime Minister Narendra Modi while recalling the attack on the Mazar-e-Sharif in Afghanistan near the Indian consulate and while India was coordinating evacuations from the country.
"We work with other countries to develop their capabilities and support their efforts to make free sovereign choices. More broadly, we aim to advance peace and stability in the region," he asserted.
Jaishankar, who met Guterres at the UN headquarters in New York, also discussed other issues, including India's presidency of the G20 and the Ukraine conflict, with the UN chief.
India has been at the forefront of efforts at the UN to push for urgent long-pending reform of the Security Council, emphasising that it rightly deserves a place at the UN high table as a permanent member.
Four out of five permanent members of the UN Security Council (UNSC) have supported India's candidature for a permanent seat in the top world body, the government told the Lok Sabha on Friday.
China has 'violated the sovereignty' of not just the United States but of countries across five continents, Secretary of State Antony Blinken alleged Wednesday, days after US fighter jets shot down a Chinese surveillance balloon.
Indian author Perumal Murugan's Tamil novel Pyre is among 13 books from across Asia, Africa, Europe and Latin America to make it to the longlist of the International Booker Prize 2023, announced by the Booker Prize Foundation in London on Tuesday.
'We believe that India is capable of producing the Gamaleya vaccine and it is very important to say that those partnerships to produce the vaccine will enable us to cover the demand that we have'
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