BUSINESS
G20 Finance Ministers agree to address debt stress, discuss Ukraine and crypto assets
The members arrived at a consensus that global policy responses to crypto assets are required. Finance minister Nirmala Sitharaman, who chaired the meeting held between April 12 and 13, told mediapersons that funding of developmental activities is required for low and middle-income countries.
India, Japan and France announce launch of Sri Lanka's debt restructuring negotiations
Participating in a high-level event on Sri Lankan debt issues on the sidelines of International Monetary Fund (IMF) - World Bank (WB) Spring Meetings in Washington, the three co-chairs India, Japan, and France agreed to lead coordinated debt restructuring of the island nation. The purpose of the event was to demonstrate the multilateral cooperation regarding the debt restructuring process among the creditors, together with Sri Lanka.
Turkey reduces size of lira coins due to rising costs: Report
The one-lira and half-lira coins are now half millimetre thinner and have a different composition of copper, zinc and nickel, the NTV reported on Thursday. The weight of the one-lira coin has been reduced to 6.6 from 8.2 grams, while the half-lira coin to 5.5 from 6.8 grams, the report added. Such changes, the first in 14 years, have saved 30 per cent in the cost of coin production, according to media reports. It is reported that the cost of making the one-lira coin was about 3.48 liras before the changes, Xinhua news agency reported.
ED noose tightens around Atiq Ahmad; cash, property papers seized
The ED said that cash transactions worth more than Rs 50 crore were also detected during the searches. The raids were conducted at 15 locations. According to a source, the raids were conducted at the premises belonging to chartered accountant Sabeeh Ahmed, Asif Jafri, Seetaram Shukla, real estate developers Sanjeev Aggarwal and Deepak Bhargav, advocate-cum-accomplice Saulat Hanif Khan and other aides Khalid Zafar, Asad, Vadood Ahmed, Kali and Mohsin.
French pension reform protests wane ahead of crucial court ruling
However, the General Confederation of Labor (CGT), France's largest union, claimed that the number of protesters exceeded one million. An important ruling over the pension reform will be carried out by France's Constitutional Council on Friday. By Friday evening, the Council is expected to decide whether it approves the controversial pension reform plan or denies part of the reform text.
IMF stands its ground, refuses to show any flexibility towards Pakistan
In the most recent development, Pakistan's Finance Minister Ishaq Dar had a virtual meeting with the IMF's Director for the Middle East and Central Asia Jihad Azour, where he requested the IMF Director to show flexibility and consideration towards Pakistan and sign the staff-level agreement.
Infosys posts Rs 24,108 crore net, recommends dividend of Rs 17.50
The company said it had earned a revenue of Rs 146,767 crore for FY23 against Rs 121,641 crore in the previous year and a net profit of Rs 24,108 crore against Rs 22,146 crore in the previous year. The company closed the fourth quarter of FY23 with a revenue of Rs 37,441 crore (previous year Rs.32,276 crore) and a net profit of Rs 6,134 crore (Rs 5,695 crore).
Wheat export ban to stay to ensure domestic supplies, check inflation, says Piyush Goyal
Speaking to media persons in Rome, where he is currently on an official visit, Goyal noted that wheat procurement has begun and initial figures related to buying are "very satisfactory". He expressed hope that despite unseasonal rains, the harvest will be good. The minister went on to add that adequate supplies need to be ensured in the country of wheat, once the procurement is over.
LT and TS to pay $9.9 mn to resolve visa fraud allegations in US
Between 2014 and 2019, the Indian company with offices in Edison, New Jersey, underpaid visa fees by acquiring inexpensive B-1 visas, rather than more expensive H-1B visas, the Attorney's Office District of South Carolina said in a release. The investigation leading to this settlement was initiated through the filing of a whistleblower (qui tam) complaint in the US District Court in Charleston, South Carolina.
Passenger vehicles sales records nearly 27% jump in FY 2022-23
The Society of Indian Automobile Manufacturers (SIAM) released the data on Thursday which showed that total of 38,90,114 passenger vehicles were sold during the year 2022-23 as against 30,69,523 in the previous year 2021-22. As per SIAM, chip shortages eased and demand for sport utility vehicles (SUVs) surged during the year 2022-23.
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