India has taken a significant step towards curbing gold smuggling and stimulating domestic demand by slashing import duties on gold and silver. The move, announced on July 23, 2023, reduces import duties from 15% to …
Continue readingTag: India
HDFC Bank Beats Q1 Profit Forecasts, Margins Remain Stable
HDFC Bank, India’s largest private lender, reported strong first-quarter results, exceeding analysts’ profit expectations. The bank posted a net profit of 161.75 billion rupees ($1.93 billion), despite a 2% decline from the previous quarter due …
Continue readingSanofi Invests $437 Million in India, Doubling Workforce in Hyderabad
French pharmaceutical giant Sanofi is making a significant investment in India, with plans to invest €400 million ($437 million) in its global capacity center (GCC) in Hyderabad by 2030. The company’s commitment to India extends …
Continue readingNepal’s Political Instability Continues as Oli Takes Over as Prime Minister for Fourth Time
K.P. Sharma Oli has been sworn in as Nepal’s Prime Minister for the fourth time, marking the fifth change in leadership in five years. This highlights the ongoing political instability in the impoverished Himalayan nation. …
Continue readingIndia’s Opposition Calls for Billionaire Tax to Fund Public Services
India’s main opposition party, the Congress, has demanded that Prime Minister Narendra Modi impose a 2% tax on billionaires to fund public services. This demand comes at a time of increasing income inequality in India, …
Continue readingRussia Vows to Quickly Resolve Indian Soldiers Issue in Ukraine War
Russia has acknowledged the presence of Indian nationals fighting in its army during the Ukraine war and has pledged to find a “quick solution” to the issue. The statement, made by a top Russian diplomat, …
Continue readingChina Condemns India’s Development Plans in Disputed Border Region
China has vehemently condemned India’s plans to expedite hydropower projects in the northeastern Himalayan state of Arunachal Pradesh, which China claims as part of its territory, known as South Tibet. The Chinese Foreign Ministry stated …
Continue readingRussia and India Deepen Ties Amidst Western Sanctions: Nuclear Power, Shipbuilding, and Payment Challenges
Amidst the backdrop of Western sanctions imposed on Russia due to the conflict in Ukraine, Moscow has been actively seeking to strengthen ties with “friendly” nations like India. This week, Prime Minister Narendra Modi’s two-day …
Continue readingNepal Floods and Landslides: 11 Dead, 8 Missing After Heavy Rains
Heavy rains triggered landslides and flash floods in Nepal, killing at least 11 people and leaving 8 missing in the past 36 hours. Officials reported that the disaster also blocked key highways and roads, disrupting …
Continue readingEmcure Pharma’s IPO Draws $11 Billion in Bids, Underscoring Strong Investor Confidence in India’s Generics Market
Emcure Pharmaceuticals, a leading Indian generics manufacturer backed by Bain Capital, has witnessed an overwhelming response to its initial public offering (IPO). The IPO, which aimed to raise $234 million, saw bids worth a staggering …
Continue reading