UK Prime Minister Rishi Sunak, is currently dealing with a fresh conflict of interest just days before the G20 conference in New Delhi. The dispute stems from concerns over questions around his wife, &nbsp;Akshata Murthy’s Infosys shares, a sizable international IT services and consultancy firm with its headquarters in Bengaluru. The shares are estimated to be worth 500 million pounds and are involved in a potential free trade deal (FTA) with India, according to a report by The Guardian.

According to the report, Infosys might be a major beneficiary of any agreement reached with India, and on August 26 Labour and the chair of the all-party House of Commons business and trade select committee urged Sunak to be more transparent about his wife’s financial interests.

Darren Johns, the Labour chair of the business and trade select committee, suggested that the British PM withdraw entirely from the trade negotiations.

“As the prime minister recently learned, it’s important he declares any interests properly. I expect him to do so in respect of the India trade deal too,"&nbsp;The Guardian&nbsp;quoted Jones as saying.

This latest step comes after Nadine Dorries, a former cultural secretary and strong critic of Sunak, finally submitted her letter of resignation from the House of Commons.

In a separate bilateral meeting with his Indian counterpart Narendra Modi, Sunak, who is scheduled to attend the G20 Summit in Delhi in September, is anticipated to address the trade negotiations between the UK and India.

Trade Secretary Kemi Badenoch returned from India this past weekend after having lengthy discussions about the potential FTA.

Sunak had unintentionally failed to properly declare his wife’s shareholding in the child-minding business Koru Kids, which stood to benefit from the government’s budget strategy, according to a report from the UK parliamentary watchdog that was issued earlier this week.

Sunak then expressed his regret for the “inadvertent” violation that had occurred “out of confusion,” and only then was the problem resolved.

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UK Prime Minister Rishi Sunak, is currently dealing with a fresh conflict of interest just days before the G20 conference in New Delhi. The dispute stems from concerns over questions around his wife, Akshata Murthy’s Infosys shares, a sizable international IT services and consultancy firm with its headquarters in Bengaluru.

UK Prime Minister Rishi Sunak, is currently dealing with a fresh conflict of interest just days before the G20 conference in New Delhi. The dispute stems from concerns over questions around his wife, Akshata Murthy’s Infosys shares, a sizable international IT services and consultancy firm with its headquarters in Bengaluru. The shares are estimated to be worth 500 million pounds and are involved in a potential free trade deal (FTA) with India, according to a report by The Guardian. According to the report, Infosys might be a major beneficiary of any agreement reached with India, and on August 26 Labour and the chair of the all-party House of Commons business and trade select committee urged Sunak to be more transparent about his wife’s financial interests. Darren Johns, the Labour chair of the business and trade select committee, suggested that the British PM withdraw entirely from the trade negotiations. “As the prime minister recently learned, it’s important he declares any interests properly. I expect him to do so in respect of the India trade deal too," The Guardian quoted Jones as saying. This latest step comes after Nadine Dorries, a former cultural secretary and strong critic of Sunak, finally submitted her letter of resignation from the House of Commons. In a separate bilateral meeting with his Indian counterpart Narendra Modi, Sunak, who is scheduled to attend the G20 Summit in Delhi in September, is anticipated to address the trade negotiations between the UK and India. Trade Secretary Kemi Badenoch returned from India this past weekend after having lengthy discussions about the potential FTA. Sunak had unintentionally failed to properly declare his wife’s shareholding in the child-minding business Koru Kids, which stood to benefit from the government’s budget strategy, according to a report from the UK parliamentary watchdog that was issued earlier this week. Sunak then expressed his regret for the “inadvertent” violation that had occurred “out of confusion,” and only then was the problem resolved. WATCH WION LIVE HERE

India-UK FTA involves conflict of interest with Rishi Sunak’s wife Akshata Murthy’s Infosys shares

According to the Department for Promotion of Industry and Internal Trade (DPIIT) the months of April through June during the current fiscal year, foreign direct investment (FDI) into India decreased by 34 per cent to $10.94 billion, The Economic Times reported.

The DPIIT data indicated that, FDI inflows totaled $16.59 billion between April and June 2022–2023.

The figures show that during April to June 2023–24, FDI from nations like Mauritius, Singapore, the US, and the UAE decreased.

Inflows decreased in a number of industries, including trading, automobile, pharma, and computer hardware and software.

Top FDI destinations included Maharashtra, Karnataka, Gujarat, and Delhi.

Despite FDI inflows declining by roughly 30 per cent to $45 billion from $64 billion in 2020, India has moved up a spot to become the seventh-highest beneficiary in calendar 2021, according to the United Nations Conference on Trade and Development. In 2021, with FDI flows reaching about $1.6 trillion, global FDI flows returned to pre-pandemic levels.

&nbsp;

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According to the Department for Promotion of Industry and Internal Trade (DPIIT) the months of April through June during the current fiscal year, foreign direct investment (FDI) into India decreased by 34 per cent to $10.

According to the Department for Promotion of Industry and Internal Trade (DPIIT) the months of April through June during the current fiscal year, foreign direct investment (FDI) into India decreased by 34 per cent to $10.94 billion, The Economic Times reported. The DPIIT data indicated that, FDI inflows totaled $16.59 billion between April and June 2022–2023. The figures show that during April to June 2023–24, FDI from nations like Mauritius, Singapore, the US, and the UAE decreased. Inflows decreased in a number of industries, including trading, automobile, pharma, and computer hardware and software. Top FDI destinations included Maharashtra, Karnataka, Gujarat, and Delhi. Despite FDI inflows declining by roughly 30 per cent to $45 billion from $64 billion in 2020, India has moved up a spot to become the seventh-highest beneficiary in calendar 2021, according to the United Nations Conference on Trade and Development. In 2021, with FDI flows reaching about $1.6 trillion, global FDI flows returned to pre-pandemic levels. WATCH WION LIVE HERE

India’s April-June FDI equity inflows dropped 34 pc to $10.94 bn

ITC Chairman and Managing director Sanijv Puri stated that the company is witnessing signs of volume growth as inflation begins to ease. He said that the trend is expected to continue over the forthcoming quarters, PTI reported.

According to Puri, this would undoubtedly result in an increase in volume, but it won't happen immediately. Puri made this statement in New Delhi, outside of the B20 Summit, which was hosted by the Confederation of Indian Industry (CII).

Puri commented on the ITC’s decision to demerge its hotel division, saying that by creating a wholly-owned new subsidiary, ITC Hotels Ltd., it will benefit the current shareholders.

“It will be a pure-play, focused on hospitality, which can leverage the institutional strengths of ITC. And ITC in turn will be able to leverage the synergy on its hospitality business, or its FMCG businesses,” PTI quoted Puri as saying.

It is a “very robust” strategy that will help the hotel industry advance faster while maintaining synergies, and it will boost ITC’s financial KPIs, he added.

According to Puri, there are two main causes of inflation: the first is the increase in foreign geopolitical variables, and the second is the problems with climate change.

“However, now, India is much better placed in the rest of the world and I would like to compliment the government for stewarding management of inflation and being extremely proactive in taking the right steps to control that,” he said.

ITC and several other FMCG manufacturers have reported volume growth and profitability improvement for the June quarter. Aashirvaad, Bingo, Sunfeast, YiPPee, Fiama, Vivel, and Savlon are just a few of ITC’s 25 brands.

Puri told PTI, “We are already seeing green shoots of pickup on volumes as inflation is moderating,” in response to a question regarding the recovery of consumer mood and volume growth, particularly in the rural market. He believes that when inflation slows, market prices will rise or the climate shall improve. He voiced his worries about the operating environment’s ongoing weather instability.

&nbsp;

&nbsp;

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ITC Chairman and Managing director Sanijv Puri stated that the company is witnessing signs of volume growth as inflation begins to ease. He said that the trend is expected to continue over the forthcoming quarters, PTI reported.

ITC Chairman and Managing director Sanijv Puri stated that the company is witnessing signs of volume growth as inflation begins to ease. He said that the trend is expected to continue over the forthcoming quarters, PTI reported. According to Puri, this would undoubtedly result in an increase in volume, but it won't happen immediately. Puri made this statement in New Delhi, outside of the B20 Summit, which was hosted by the Confederation of Indian Industry (CII). Puri commented on the ITC’s decision to demerge its hotel division, saying that by creating a wholly-owned new subsidiary, ITC Hotels Ltd., it will benefit the current shareholders. “It will be a pure-play, focused on hospitality, which can leverage the institutional strengths of ITC. And ITC in turn will be able to leverage the synergy on its hospitality business, or its FMCG businesses,” PTI quoted Puri as saying. It is a “very robust” strategy that will help the hotel industry advance faster while maintaining synergies, and it will boost ITC’s financial KPIs, he added. According to Puri, there are two main causes of inflation: the first is the increase in foreign geopolitical variables, and the second is the problems with climate change. “However, now, India is much better placed in the rest of the world and I would like to compliment the government for stewarding management of inflation and being extremely proactive in taking the right steps to control that,” he said. ITC and several other FMCG manufacturers have reported volume growth and profitability improvement for the June quarter. Aashirvaad, Bingo, Sunfeast, YiPPee, Fiama, Vivel, and Savlon are just a few of ITC’s 25 brands. Puri told PTI, “We are already seeing green shoots of pickup on volumes as inflation is moderating,” in response to a question regarding the recovery of consumer mood and volume growth, particularly in the rural market. He believes that when inflation slows, market prices will rise or the climate shall improve. He voiced his worries about the operating environment’s ongoing weather instability. WATCH WION LIVE HERE

 ITC CMD Sanjiv Puri sees signs of volume growth as inflation moderates

Nearly 10 per cent of women in India own cryptocurrency, which ranks third among all countries, according to a study. Data from the foreign exchange education portal Forex Suggest reveals&nbsp;that there are&nbsp;63 million female cryptocurrency owners in India, accounting for 9.2 per cent of the female population of around 685 million.

When looking at what the figures indicate in India, blockchain and emerging tech evangelist Sharat Chandra said, “There are several aspects including the propensity to explore new assets. Most educated women are seeking independence in employment. Financial literacy, their general awareness and their tendency to explore new asset classes is on the rise.”

Vietnam tops&nbsp;the list with 12 million female cryptocurrency owners, or 24 per cent of the female population. With 47 per cent female cryptocurrency owners, Vietnam has&nbsp;the most even gender distribution. Philippines comes second with 9.6 per cent, representing over 5.5 million female cryptocurrency owners.

Kenya and Colombia are tied for&nbsp;third place, with women making up 42 per cent of all cryptocurrency owners in both nations. India comes&nbsp;in eighth, with male and female crypto ownership at 60 per cent and 40 per cent, respectively.

According to the study, “This is a difference of just six percentage points, showing that female access to digital currencies is being supported by the local culture.”

Blockchain advisor Kamlesh Nagware differs&nbsp;from the study, saying that women investing in crypto is not a question of being supported by the local culture but has more to do with the “hype” surrounding it. “People are seeking opportunities, educated ladies especially, want to begin and set up their own new ventures.”

According to Chandra, in the Indian context, developer groups, both national and international are empowering and supporting women in this domain. He said that platforms like The Pheonix Guild have assisted in increasing awareness about digital and block work investments among women. “Not-for-profit orgnaisations and other established ones like Google are also working in the background to make women more employable,” he said.

Chandra said that there is more noise and less substance when it comes to talking about investment risks, adding that information asymmetry has been influencing investment decisions, as there are limited neutral voices but more biased content.&nbsp;

The lack of regulatory oversight, no definitive laws for protection and the lack of credible sources or ‘self proclaimed experts,’ pose additional threats for making crypto investments.

Nagware, on the other hand, said, “Understanding the regulatory culture, the laws involved and the security concerns about money laundering is essential. Grasping the technology involved and educating oneself about the domain are equally important.” He further discourages&nbsp;investors from making decisions based on inputs from crypto influencers.

Despite these setbacks, Chandra said that increasing asset tokenisation which in turn improves asset liquidity and the opening up of other asset classes are some of the positives women get to explore while investing in crypto. &nbsp;

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Nearly 10 per cent of women in India own cryptocurrency, which ranks third among all countries, according to a study. Data from the foreign exchange education portal Forex Suggest reveals that there are 63 million female cryptocurrency owners in India, accounting for 9.

Nearly 10 per cent of women in India own cryptocurrency, which ranks third among all countries, according to a study. Data from the foreign exchange education portal Forex Suggest reveals that there are 63 million female cryptocurrency owners in India, accounting for 9.2 per cent of the female population of around 685 million. When looking at what the figures indicate in India, blockchain and emerging tech evangelist Sharat Chandra said, “There are several aspects including the propensity to explore new assets. Most educated women are seeking independence in employment. Financial literacy, their general awareness and their tendency to explore new asset classes is on the rise.” Vietnam tops the list with 12 million female cryptocurrency owners, or 24 per cent of the female population. With 47 per cent female cryptocurrency owners, Vietnam has the most even gender distribution. Philippines comes second with 9.6 per cent, representing over 5.5 million female cryptocurrency owners. Kenya and Colombia are tied for third place, with women making up 42 per cent of all cryptocurrency owners in both nations. India comes in eighth, with male and female crypto ownership at 60 per cent and 40 per cent, respectively. According to the study, “This is a difference of just six percentage points, showing that female access to digital currencies is being supported by the local culture.” Blockchain advisor Kamlesh Nagware differs from the study, saying that women investing in crypto is not a question of being supported by the local culture but has more to do with the “hype” surrounding it. “People are seeking opportunities, educated ladies especially, want to begin and set up their own new ventures.” According to Chandra, in the Indian context, developer groups, both national and international are empowering and supporting women in this domain. He said that platforms like The Pheonix Guild have assisted in increasing awareness about digital and block work investments among women. “Not-for-profit orgnaisations and other established ones like Google are also working in the background to make women more employable,” he said. Chandra said that there is more noise and less substance when it comes to talking about investment risks, adding that information asymmetry has been influencing investment decisions, as there are limited neutral voices but more biased content. The lack of regulatory oversight, no definitive laws for protection and the lack of credible sources or ‘self proclaimed experts,’ pose additional threats for making crypto investments. Nagware, on the other hand, said, “Understanding the regulatory culture, the laws involved and the security concerns about money laundering is essential. Grasping the technology involved and educating oneself about the domain are equally important.” He further discourages investors from making decisions based on inputs from crypto influencers. Despite these setbacks, Chandra said that increasing asset tokenisation which in turn improves asset liquidity and the opening up of other asset classes are some of the positives women get to explore while investing in crypto. WATCH WION LIVE HERE

Nearly 10 per cent of Indian women own crypto: Exploring the trend

The Pakistani rupee reached a record-low closing value of 300.2 against the US dollar, breaking through the psychological barrier of 300 on Thursday. Data from the central bank indicated that this unwanted milestone was reached amid less curbs on outflows.

On Wednesday, the Pakistani rupee lost more ground, closing at 299.6 to the US dollar.

The rupee has lost 2.9 per cent of its value since the caretaker government assumed power on August 15, when it hit a record low for a third straight day.

The administration is tasked with monitoring at least one review of the $3 billion standby agreement with the International Monetary Fund (IMF) and guiding the nation towards a general election, scheduled to take place by November.

In order to stop the drain on its dwindling foreign reserves, Pakistan introduced import restrictions beginning in 2022. The IMF rescue programme to support the crisis-hit economy had a clause to remove those restrictions from June this year.&nbsp;

“When you open up a restricted trade economy, it results in an initial overreaction,” Fahad Rauf, head of research at Ismail Iqbal Securities, told Reuters.

He added that increased inflation expectations have returned as a result of the government’s imposition of energy tariffs and increase in the price of petrol.

These steps are inflationary and put pressure on the rupee, he added.

(With inputs from Reuters)

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The Pakistani rupee reached a record-low closing value of 300.2 against the US dollar, breaking through the psychological barrier of 300 on Thursday. Data from the central bank indicated that this unwanted milestone was reached amid less curbs on outflows.

The Pakistani rupee reached a record-low closing value of 300.2 against the US dollar, breaking through the psychological barrier of 300 on Thursday. Data from the central bank indicated that this unwanted milestone was reached amid less curbs on outflows. On Wednesday, the Pakistani rupee lost more ground, closing at 299.6 to the US dollar. The rupee has lost 2.9 per cent of its value since the caretaker government assumed power on August 15, when it hit a record low for a third straight day. The administration is tasked with monitoring at least one review of the $3 billion standby agreement with the International Monetary Fund (IMF) and guiding the nation towards a general election, scheduled to take place by November. In order to stop the drain on its dwindling foreign reserves, Pakistan introduced import restrictions beginning in 2022. The IMF rescue programme to support the crisis-hit economy had a clause to remove those restrictions from June this year. “When you open up a restricted trade economy, it results in an initial overreaction,” Fahad Rauf, head of research at Ismail Iqbal Securities, told Reuters. He added that increased inflation expectations have returned as a result of the government’s imposition of energy tariffs and increase in the price of petrol. These steps are inflationary and put pressure on the rupee, he added. (With inputs from Reuters) WATCH WION LIVE HERE

Pakistani rupee falls to an all-time low of 300.2 against the US dollar

The comprehensive Digital Services Act (DSA) of the European Union imposes new regulations on content moderation, user privacy, and transparency, putting more than a dozen of the largest tech companies in the world under unprecedented legal scrutiny.

A number of internet giants, including Meta’s&nbsp;Facebook and Instagram, Apple’s online App Store, and a few Google services, will be subject to new regulations in the EU, starting on Friday. These regulations include preventing the spread of harmful content, prohibiting or restricting certain user-targeting techniques, and sharing some internal data with regulators and related researchers.

With other comprehensive pieces of legislation, including the Digital Markets Act and the AI Act, on the horizon, the EU is regarded as the global leader in digital regulation. The introduction of comparable laws around the world will be influenced by how successfully the bloc implements these regulations.

Researchers have questioned whether these businesses have gone above and beyond what is required of them by the law.

For the time being, the regulations are applicable to 19 of the biggest internet sites, those with more than 45 million EU users. But starting in mid-February, they will be applicable to all online outlets, regardless of size.

Any company found to be in violation of the DSA faces a fine of up to 6% of its annual global revenue, and repeat offenders risk being barred from doing business in Europe.

E-commerce behemoth Amazon and German fashion retailer Zalando are the two businesses picked out for early regulation, and both are now refuting their inclusion on the list in court.

“We can expect that platforms will fight tooth and nail to defend their practices,” Reuters quoted Kingsley Hayes, the head of data and privacy litigation at law firm Keller Postman, as saying. “Especially when new compliance rules encroach on their core business models," he added.&nbsp;

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The comprehensive Digital Services Act (DSA) of the European Union imposes new regulations on content moderation, user privacy, and transparency, putting more than a dozen of the largest tech companies in the world under unprecedented legal scrutiny.

The comprehensive Digital Services Act (DSA) of the European Union imposes new regulations on content moderation, user privacy, and transparency, putting more than a dozen of the largest tech companies in the world under unprecedented legal scrutiny. A number of internet giants, including Meta’s Facebook and Instagram, Apple’s online App Store, and a few Google services, will be subject to new regulations in the EU, starting on Friday. These regulations include preventing the spread of harmful content, prohibiting or restricting certain user-targeting techniques, and sharing some internal data with regulators and related researchers. With other comprehensive pieces of legislation, including the Digital Markets Act and the AI Act, on the horizon, the EU is regarded as the global leader in digital regulation. The introduction of comparable laws around the world will be influenced by how successfully the bloc implements these regulations. Researchers have questioned whether these businesses have gone above and beyond what is required of them by the law. For the time being, the regulations are applicable to 19 of the biggest internet sites, those with more than 45 million EU users. But starting in mid-February, they will be applicable to all online outlets, regardless of size. Any company found to be in violation of the DSA faces a fine of up to 6% of its annual global revenue, and repeat offenders risk being barred from doing business in Europe. E-commerce behemoth Amazon and German fashion retailer Zalando are the two businesses picked out for early regulation, and both are now refuting their inclusion on the list in court. “We can expect that platforms will fight tooth and nail to defend their practices,” Reuters quoted Kingsley Hayes, the head of data and privacy litigation at law firm Keller Postman, as saying. “Especially when new compliance rules encroach on their core business models," he added. WATCH WION LIVE HERE

Big tech companies brace for EU’s Digital Services Act regulations 

Turkiye’s central bank increased its benchmark interest rate by a higher-than-anticipated 750 basis points to 25 per cent on Thursday, igniting a rare lira rally and indicating a renewed commitment to combating rising inflation as part of a broader policy U-turn.

The unexpected move has resulted in the policy rate reaching its highest level since 2019 and the Turkish Lira is at its highest level since mid-July. Since June, the bank has increased the TRINT=ECI one-week repo rate by 1,650 basis points.

The policy committee reiterated that it would tighten “as much as needed in a timely and gradual manner” to lower inflation, which jumped to nearly 48 per cent last month. The committee included three members participating for the first time who are viewed as having hawkish sway.

After years of unconventional policies under President Tayyip Erdogan, analysts said the shift was the clearest one yet toward more conventional measures and could help control inflation.

In the days leading up to the policy announcement, as well as in previous weeks, the lira experienced nearly daily new all-time lows. But it then increased by more than three per cent in relation to the dollar and peaked at 26.41 at 12:05 GMT.

According to Tradeweb data, the price of the government’s dollar-denominated bonds increased by more than two cents, while Turkish bank stocks increased by almost 10 per cent, supporting the larger Istanbul Stock Exchange.

A Reuters poll of analysts found that they anticipated a median increase of 250 basis points from the previous 17.5 per cent, with some even anticipating a more dovish decision given the bank’s performance over the previous two months.

As per the poll conducted in the last week, the interest rates were not anticipated to rise to 25 per cent until the end of the year.

The rate hike “sends a very strong signal that the (bank) is determined to rein in inflation and the initial market response is very positive,” Reuters quoted Piotr Matys, a senior FX analyst at In Touch Capital Markets, as saying.&nbsp;

He also said, “at least some investors will be wondering whether the 750bps hike has been approved by President Erdogan.”

(With inputs from Reuters)

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Turkiye’s central bank increased its benchmark interest rate by a higher-than-anticipated 750 basis points to 25 per cent on Thursday, igniting a rare lira rally and indicating a renewed commitment to combating rising inflation as part of a broader policy U-turn.

Turkiye’s central bank increased its benchmark interest rate by a higher-than-anticipated 750 basis points to 25 per cent on Thursday, igniting a rare lira rally and indicating a renewed commitment to combating rising inflation as part of a broader policy U-turn. The unexpected move has resulted in the policy rate reaching its highest level since 2019 and the Turkish Lira is at its highest level since mid-July. Since June, the bank has increased the TRINT=ECI one-week repo rate by 1,650 basis points. The policy committee reiterated that it would tighten “as much as needed in a timely and gradual manner” to lower inflation, which jumped to nearly 48 per cent last month. The committee included three members participating for the first time who are viewed as having hawkish sway. After years of unconventional policies under President Tayyip Erdogan, analysts said the shift was the clearest one yet toward more conventional measures and could help control inflation. In the days leading up to the policy announcement, as well as in previous weeks, the lira experienced nearly daily new all-time lows. But it then increased by more than three per cent in relation to the dollar and peaked at 26.41 at 12:05 GMT. According to Tradeweb data, the price of the government’s dollar-denominated bonds increased by more than two cents, while Turkish bank stocks increased by almost 10 per cent, supporting the larger Istanbul Stock Exchange. A Reuters poll of analysts found that they anticipated a median increase of 250 basis points from the previous 17.5 per cent, with some even anticipating a more dovish decision given the bank’s performance over the previous two months. As per the poll conducted in the last week, the interest rates were not anticipated to rise to 25 per cent until the end of the year. The rate hike “sends a very strong signal that the (bank) is determined to rein in inflation and the initial market response is very positive,” Reuters quoted Piotr Matys, a senior FX analyst at In Touch Capital Markets, as saying. He also said, “at least some investors will be wondering whether the 750bps hike has been approved by President Erdogan.” (With inputs from Reuters) WATCH WION LIVE HERE

Turkish lira shoots up after a 25 per cent rate hike

Indian low-cost carrier, SpiceJet told Delhi High Court on Thursday it was “struggling to stay afloat”, after it was told to make a payment for money owed to its former owner.

SpiceJet was forced to pay $70 million plus interest after losing an arbitration case in 2018, which involved share transfers from the company’s former management to Kalanithi Maran in 2015. Later, Maran sued SpiceJet, alleging that he was still due $48 million.

SpiceJet said it was having financial difficulties at a hearing before the Delhi High Court on Thursday in response to Maran’s lawsuit seeking the unpaid debts.

“We are struggling to stay afloat,” the airline’s lawyer Amit Sibal told the judge.

SpiceJet said that it would deposit 750 million rupees ($9.08 million) within 10 days, but the judge instead demanded that the airline pay one billion rupees ($12 million) by September 10 or risk having its assets seized in order to recoup the debt.

In a statement, SpiceJet agreed to uphold the court decision and “make the specified payment within the prescribed timeframe.”

The directive was issued a few days after the Indian Supreme Court ordered SpiceJet’s managing director, Ajay Singh, to appear in court to defend Credit Suisse’s claims for certain outstanding dues that were owed.

The Supreme Court case and the Delhi High Court case will both be heard next on September 11.

Due a substantial decrease in costs brought by the operation of fewer flights, SpiceJet posted its biggest quarterly profit in four years, last month. As competition in the industry becomes tougher, SpiceJet has also been frantically trying to obtain funds and resume operations for nearly a fourth of its fleet, which has been grounded due to disputes with its lessors over payments.

(With inputs from Reuters)

&nbsp;

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Indian low-cost carrier, SpiceJet told Delhi High Court on Thursday it was “struggling to stay afloat”, after it was told to make a payment for money owed to its former owner.

Indian low-cost carrier, SpiceJet told Delhi High Court on Thursday it was “struggling to stay afloat”, after it was told to make a payment for money owed to its former owner. SpiceJet was forced to pay $70 million plus interest after losing an arbitration case in 2018, which involved share transfers from the company’s former management to Kalanithi Maran in 2015. Later, Maran sued SpiceJet, alleging that he was still due $48 million. SpiceJet said it was having financial difficulties at a hearing before the Delhi High Court on Thursday in response to Maran’s lawsuit seeking the unpaid debts. “We are struggling to stay afloat,” the airline’s lawyer Amit Sibal told the judge. SpiceJet said that it would deposit 750 million rupees ($9.08 million) within 10 days, but the judge instead demanded that the airline pay one billion rupees ($12 million) by September 10 or risk having its assets seized in order to recoup the debt. In a statement, SpiceJet agreed to uphold the court decision and “make the specified payment within the prescribed timeframe.” The directive was issued a few days after the Indian Supreme Court ordered SpiceJet’s managing director, Ajay Singh, to appear in court to defend Credit Suisse’s claims for certain outstanding dues that were owed. The Supreme Court case and the Delhi High Court case will both be heard next on September 11. Due a substantial decrease in costs brought by the operation of fewer flights, SpiceJet posted its biggest quarterly profit in four years, last month. As competition in the industry becomes tougher, SpiceJet has also been frantically trying to obtain funds and resume operations for nearly a fourth of its fleet, which has been grounded due to disputes with its lessors over payments. (With inputs from Reuters) WATCH WION LIVE HERE

'Struggling to stay afloat': SpiceJet to Indian court

Pre-colonial India was one of the most prosperous times in Indian history and a lot is attributed to the traditional banking system involving bankers and merchants. But there were other groups who were a part of the banking system and contributed immeasurably to the prosperity of the regions they were situated in. One such group present throughout the 18th&nbsp;century in India’s Bengal region was the family of the Jagat Seths.

For years, the family dominated the Bengal money market, provided funds for both trade and government. The Jagat Seths were in close contact with the European Companies that imported a lot of silver due to their control over the credit market and coinage of specie. Companies borrowed directly from the Seths’ agencies in Calcutta, Kasimbazar, Dhaka, Hughli, Patna, et cetera.

After visiting the Seths’ house in Murshidabad following the battle of Plassey, Robert Clive wrote:

“The city of Murshidabad is as extensive, populous and rich, as the city of London, with this difference that there are individuals in the first possessing infinitely greater property than any of the last city.”

Who were the Jagat Seths?&nbsp;

The House of the Jagat Seths’ is traced back to Manickchand, a banker who founded the house after migrating from Nagar in Marwar to Murshidabad.

Since its founding in 1704, the house’s financial standing and prestige in that city reached a point where the Mughal emperor bestowed on the latter the title of “Jagat Seth,” which translates to "the Banker of the World,” by the time it emerged distinct in 1722.

The house’s fame and fortune came during the reign of Fatechand, who passed away in 1742 after nearly thirty years of influence on Bengal’s political, economic, and commercial life. His two grandchildren, Maharaja Swaroopchand and Jagat Seth Mahtab Rai, succeeded him.

How did they rise?&nbsp;

The House of the Jagat Seth initially made their fortune by farming the Murshidabad and Dhaka mints, collecting two-thirds of the provincial tax revenue. They were later able to influence exchange and interest rates, bill-broking, and the granting of credit. By 1720, the Seth family had completely taken control of the mint farms, with the help of Nawab Murshid Quli Khan.

The family’s power over Bengal’s money market was so strong that everyone involved accepted the exchange rate that the house set. Fatechand was able to persuade the government to take actions and adopt regulations for the rate of money exchange that would benefit the house because to his influence over the Bengal administration, which he acquired by providing financial assistance to the Nawab.

Due to the lack of liquid capital for investments for all European businesses, they were compelled to borrow from the local capital market.&nbsp;&nbsp;The Jagat Seths served as their mainstay. The family was the largest lender to European businesses, and because of their control over the market, they were able to set interest rates as per their own terms.

How wealthy was their family?&nbsp;

Although the exact figure of their wealth could never be measured, the family remains well-known for their assets. The House of Jagat Seth family was often compared to the Bank of England. They performed a variety of duties for the Bengal government, including tax collection and financial management. They even produced their own coinage and worked with foreign currency, which increased their fortune.

Sources say that the Jagat Seth family fortune was bigger than that of the British Empire. They had assets worth at least $1 trillion in today’s value. They possessed more cash than all of England’s banks combined, according to British newspapers.

What happened to the Seths?&nbsp;

Mahtab Chand succeeded his grandfather Fateh Chand in 1744. During the reign of Alivardi Khan, Mahtab Chand and his relative Maharaja Swarup Chand had tremendous influence over the market. However, when Siraj-ud-Daula assumed authority, everything changed, and they ultimately teamed up with the British to plot against him.

Ultimately, the Seths lost control of their lands, and the British East India Company never repaid their loan. The 1857 uprising was the last straw. The Jagat Seths had disappeared from public eye by the 1900s. Just like the Mughals, their descendants remain a mystery.

Pre-colonial India was one of the most prosperous times in Indian history and a lot is attributed to the traditional banking system involving bankers and merchants.

Pre-colonial India was one of the most prosperous times in Indian history and a lot is attributed to the traditional banking system involving bankers and merchants. But there were other groups who were a part of the banking system and contributed immeasurably to the prosperity of the regions they were situated in. One such group present throughout the 18th century in India’s Bengal region was the family of the Jagat Seths. For years, the family dominated the Bengal money market, provided funds for both trade and government. The Jagat Seths were in close contact with the European Companies that imported a lot of silver due to their control over the credit market and coinage of specie. Companies borrowed directly from the Seths’ agencies in Calcutta, Kasimbazar, Dhaka, Hughli, Patna, et cetera. After visiting the Seths’ house in Murshidabad following the battle of Plassey, Robert Clive wrote: “The city of Murshidabad is as extensive, populous and rich, as the city of London, with this difference that there are individuals in the first possessing infinitely greater property than any of the last city.” Who were the Jagat Seths? The House of the Jagat Seths’ is traced back to Manickchand, a banker who founded the house after migrating from Nagar in Marwar to Murshidabad. Since its founding in 1704, the house’s financial standing and prestige in that city reached a point where the Mughal emperor bestowed on the latter the title of “Jagat Seth,” which translates to "the Banker of the World,” by the time it emerged distinct in 1722. The house’s fame and fortune came during the reign of Fatechand, who passed away in 1742 after nearly thirty years of influence on Bengal’s political, economic, and commercial life. His two grandchildren, Maharaja Swaroopchand and Jagat Seth Mahtab Rai, succeeded him. How did they rise? The House of the Jagat Seth initially made their fortune by farming the Murshidabad and Dhaka mints, collecting two-thirds of the provincial tax revenue. They were later able to influence exchange and interest rates, bill-broking, and the granting of credit. By 1720, the Seth family had completely taken control of the mint farms, with the help of Nawab Murshid Quli Khan. The family’s power over Bengal’s money market was so strong that everyone involved accepted the exchange rate that the house set. Fatechand was able to persuade the government to take actions and adopt regulations for the rate of money exchange that would benefit the house because to his influence over the Bengal administration, which he acquired by providing financial assistance to the Nawab. Due to the lack of liquid capital for investments for all European businesses, they were compelled to borrow from the local capital market. The Jagat Seths served as their mainstay. The family was the largest lender to European businesses, and because of their control over the market, they were able to set interest rates as per their own terms. How wealthy was their family? Although the exact figure of their wealth could never be measured, the family remains well-known for their assets. The House of Jagat Seth family was often compared to the Bank of England. They performed a variety of duties for the Bengal government, including tax collection and financial management. They even produced their own coinage and worked with foreign currency, which increased their fortune. Sources say that the Jagat Seth family fortune was bigger than that of the British Empire. They had assets worth at least $1 trillion in today’s value. They possessed more cash than all of England’s banks combined, according to British newspapers. What happened to the Seths? Mahtab Chand succeeded his grandfather Fateh Chand in 1744. During the reign of Alivardi Khan, Mahtab Chand and his relative Maharaja Swarup Chand had tremendous influence over the market. However, when Siraj-ud-Daula assumed authority, everything changed, and they ultimately teamed up with the British to plot against him. Ultimately, the Seths lost control of their lands, and the British East India Company never repaid their loan. The 1857 uprising was the last straw. The Jagat Seths had disappeared from public eye by the 1900s. Just like the Mughals, their descendants remain a mystery.

Flashback Friday: The rise and fall of pre-colonial India’s richest family – the Jagat Seths 

India’s transition to a net-zero economy by 2050 presents an investment opportunity that is estimated to be worth at least $12.7 trillion, according to the New Energy Outlook: India report, released by research firm BloombergNEF on Thursday.

The two energy system futures for India are explained in the report, along with the opportunities and difficulties the nation will face during its transition.

The base case, Economic Transition Scenario (ETS), assumes a rise in global temperature of 2.6 degrees Celsius by 2050, and describes a shift driven by economics. In this scenario, India may make great strides towards energy independence and decarbonisation, but neither objectives could be accomplished by 2050.

The second scenario, known as the Net Zero Scenario (NZS), calls for increased public assistance and private sector investment. It is in line with achieving net-zero emissions without relying on emerging technologies by 2050. It enables India to achieve energy independence by the middle of the century at the lowest cost.

Moving towards the power sector de-carbonisation &nbsp;

According to the report, between 2018 and 2022, India added 53 gigawatts of solar and wind energy. However, coal still dominates the overall power generation capacity, with solar and wind making up less than a fourth of it.&nbsp;

India’s greatest source of emissions continues to come from energy generation via coal.

The study says that increasing the use of solar and wind energy while supplementing it with nuclear, energy storage, and carbon capture and storage (CCS) for thermal power plants is the most affordable method for India to increase access to electricity while decarbonising its energy supply.

In India, new wind and solar power facilities have already produced electricity at a lower cost than new thermal power plants. By the middle of the 2030s, the cost of producing electricity from new solar and wind power plants will be lower than the cost of maintaining coal-fired power facilities.

The total installed wind and solar power capacity in the NZS increases approximately 30 times, from 99 gigawatts in 2021 to 2,998 gigawatts by 2050. In 2050, nuclear power is projected to contribute 9 per cent of the country’s electricity, with wind and solar power generation making up the remaining 80 per cent. Hydro, biomass, hydrogen-fired thermal plants, and thermal power plants with CCS make up the difference.&nbsp;

Solar and wind are to become a major source of electricity supply, accounting for 67 per cent of electricity generated in 2050, even under the ETS, BNEF’s baseline scenario.

Investment opportunities &nbsp;

The report notes that a $7.6 trillion investment in energy supply and consumption will be made under the ETS between 2022 and 2050. According to the NZS, investment levels must be 1.7 times greater to stay on track for net zero, amounting to an average of $438 billion annually and a total of $12.7 trillion by 2050.

Moreover, India needs to reduce its&nbsp;total investment in fossil-fuel generation --&nbsp;from $317 billion in the ETS to $142 billion in the NZS. India also needs to invest $870 billion in carbon capture and storage to reduce emissions under the NZS.&nbsp;

Sales of electric vehicles represent the largest portion of energy demand investments in both cases. In the NZS, EV deployment costs $3.9 trillion.

“By accelerating deployment of mature clean technologies such as solar, wind and electric vehicles, India could create more domestic economic opportunities while reducing emissions and strengthening its energy security,” the report quotes Shantanu Jaiswal, Head of Research at BNEF as saying.

Tackling industrial emissions with hydrogen and CCS&nbsp;

By the early 2040s, industrial CO2 emissions in India are predicted to surpass those from the electricity sector under the ETS, attributed to the expansion of the steel, aluminium, petrochemical, and cement industries. The largest emitting industrial subsector in India, steel, will virtually quadruple its emissions from 351 to 948 million metric tonnes (Mt) of carbon dioxide between 2021 and 2050.

A similar rise is shown in the amount of coal used in steel production, which increases to 399 million metric tonnes by the middle of the century. By 2050 compared to 2021, the cement industry will need five times as much coal, or 83Mt. Thus, emissions from the cement industry increase five times, reaching 289 Mt by the middle of the century.

Decarbonising the industrial sector and removing such emissions will depend heavily on green hydrogen and CCS. According to the NZS, between 2022 and 2050, the use of clean hydrogen in the production of steel can prevent 54 per cent of the total emissions. Similarly, 56 per cent of the total emissions associated with cement manufacturing can be reduced by CCS.

According to the NZS, India’s industrial sector emissions reach their peak in 2031 and start to decrease sharply in the mid-2030s as more hydrogen and carbon capture technology is used to decarbonise the production of steel, cement, and petrochemicals.&nbsp;

By 2050, there will be a roughly tenfold rise in domestic hydrogen demand, reaching 53Mt. The steel industry’s adoption of hydrogen-fired direct-reduction furnaces will be the primary driver of the new demand for hydrogen, which will reach 33Mt in 2050.&nbsp;

The majority of the hydrogen produced in India today comes from unrestricted fossil fuels. Under the NZS, the predominant pathway in India by 2050 is hydrogen produced using electrolysers driven by renewable sources.

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India’s transition to a net-zero economy by 2050 presents an investment opportunity that is estimated to be worth at least $12.7 trillion, according to the New Energy Outlook: India report, released by research firm BloombergNEF on Thursday.

India’s transition to a net-zero economy by 2050 presents an investment opportunity that is estimated to be worth at least $12.7 trillion, according to the New Energy Outlook: India report, released by research firm BloombergNEF on Thursday. The two energy system futures for India are explained in the report, along with the opportunities and difficulties the nation will face during its transition. The base case, Economic Transition Scenario (ETS), assumes a rise in global temperature of 2.6 degrees Celsius by 2050, and describes a shift driven by economics. In this scenario, India may make great strides towards energy independence and decarbonisation, but neither objectives could be accomplished by 2050. The second scenario, known as the Net Zero Scenario (NZS), calls for increased public assistance and private sector investment. It is in line with achieving net-zero emissions without relying on emerging technologies by 2050. It enables India to achieve energy independence by the middle of the century at the lowest cost. Moving towards the power sector de-carbonisation According to the report, between 2018 and 2022, India added 53 gigawatts of solar and wind energy. However, coal still dominates the overall power generation capacity, with solar and wind making up less than a fourth of it. India’s greatest source of emissions continues to come from energy generation via coal. The study says that increasing the use of solar and wind energy while supplementing it with nuclear, energy storage, and carbon capture and storage (CCS) for thermal power plants is the most affordable method for India to increase access to electricity while decarbonising its energy supply. In India, new wind and solar power facilities have already produced electricity at a lower cost than new thermal power plants. By the middle of the 2030s, the cost of producing electricity from new solar and wind power plants will be lower than the cost of maintaining coal-fired power facilities. The total installed wind and solar power capacity in the NZS increases approximately 30 times, from 99 gigawatts in 2021 to 2,998 gigawatts by 2050. In 2050, nuclear power is projected to contribute 9 per cent of the country’s electricity, with wind and solar power generation making up the remaining 80 per cent. Hydro, biomass, hydrogen-fired thermal plants, and thermal power plants with CCS make up the difference. Solar and wind are to become a major source of electricity supply, accounting for 67 per cent of electricity generated in 2050, even under the ETS, BNEF’s baseline scenario. Investment opportunities The report notes that a $7.6 trillion investment in energy supply and consumption will be made under the ETS between 2022 and 2050. According to the NZS, investment levels must be 1.7 times greater to stay on track for net zero, amounting to an average of $438 billion annually and a total of $12.7 trillion by 2050. Moreover, India needs to reduce its total investment in fossil-fuel generation -- from $317 billion in the ETS to $142 billion in the NZS. India also needs to invest $870 billion in carbon capture and storage to reduce emissions under the NZS. Sales of electric vehicles represent the largest portion of energy demand investments in both cases. In the NZS, EV deployment costs $3.9 trillion. “By accelerating deployment of mature clean technologies such as solar, wind and electric vehicles, India could create more domestic economic opportunities while reducing emissions and strengthening its energy security,” the report quotes Shantanu Jaiswal, Head of Research at BNEF as saying. Tackling industrial emissions with hydrogen and CCS By the early 2040s, industrial CO2 emissions in India are predicted to surpass those from the electricity sector under the ETS, attributed to the expansion of the steel, aluminium, petrochemical, and cement industries. The largest emitting industrial subsector in India, steel, will virtually quadruple its emissions from 351 to 948 million metric tonnes (Mt) of carbon dioxide between 2021 and 2050. A similar rise is shown in the amount of coal used in steel production, which increases to 399 million metric tonnes by the middle of the century. By 2050 compared to 2021, the cement industry will need five times as much coal, or 83Mt. Thus, emissions from the cement industry increase five times, reaching 289 Mt by the middle of the century. Decarbonising the industrial sector and removing such emissions will depend heavily on green hydrogen and CCS. According to the NZS, between 2022 and 2050, the use of clean hydrogen in the production of steel can prevent 54 per cent of the total emissions. Similarly, 56 per cent of the total emissions associated with cement manufacturing can be reduced by CCS. According to the NZS, India’s industrial sector emissions reach their peak in 2031 and start to decrease sharply in the mid-2030s as more hydrogen and carbon capture technology is used to decarbonise the production of steel, cement, and petrochemicals. By 2050, there will be a roughly tenfold rise in domestic hydrogen demand, reaching 53Mt. The steel industry’s adoption of hydrogen-fired direct-reduction furnaces will be the primary driver of the new demand for hydrogen, which will reach 33Mt in 2050. The majority of the hydrogen produced in India today comes from unrestricted fossil fuels. Under the NZS, the predominant pathway in India by 2050 is hydrogen produced using electrolysers driven by renewable sources. WATCH WION LIVE HERE

India’s push towards a net-zero economy could attract investments worth $12.7 tn: Report

Porsche AG, a German sports car manufacturer, is doubling down on expanding its presence in India, as a new generation of Indians look for supercar brands with a sustainable story, Detlev von Platen, a member of the company’s executive board told Mint.

“India has a chance (to grow the luxury car market) when you look at its willingness to invest in sustainable technology and infrastructure. We’d like to learn more about it. At Porsche, we have a clear commitment to be net-carbon neutral by 2030, which means our entire supply chain and even the usage of our products must be net carbon-neutral. India can be a country where the transition to EVs can happen quickly. We don’t see India as an&nbsp;emerging market anymore,” Mint quoted Platen as saying.

In addition, Platen noted that India has a strong momentum as it embraces investment in research and development (R&amp;D), sustainability, and infrastructure. Although many opportunities have opened up over the past ten years, he said that the company will not set up assembly units in India. Instead, the vehicle manufacturer would prioritise value-oriented growth, sustainable growth, and national brand building in the country.&nbsp;

By the end of the year, the German high-performance automaker would have 10 dealer-investors in India, giving it a presence in all significant tier-one markets, the company said.

Platen also told Mint that Porsche is one of the fastest growing luxury car brands in India. As part of the luxury car market in India, Planten said that Porsche would continue to be small in terms of its volume.&nbsp;

He added that the group would&nbsp;not see India as an emerging market anymore, especially in terms of establishing all operations in the country, arguing that&nbsp;India is a leading country in terms of software technologies.&nbsp;

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Porsche AG, a German sports car manufacturer, is doubling down on expanding its presence in India, as a new generation of Indians look for supercar brands with a sustainable story, Detlev von Platen, a member of the company’s executive board told Mint.

Porsche AG, a German sports car manufacturer, is doubling down on expanding its presence in India, as a new generation of Indians look for supercar brands with a sustainable story, Detlev von Platen, a member of the company’s executive board told Mint. “India has a chance (to grow the luxury car market) when you look at its willingness to invest in sustainable technology and infrastructure. We’d like to learn more about it. At Porsche, we have a clear commitment to be net-carbon neutral by 2030, which means our entire supply chain and even the usage of our products must be net carbon-neutral. India can be a country where the transition to EVs can happen quickly. We don’t see India as an emerging market anymore,” Mint quoted Platen as saying. In addition, Platen noted that India has a strong momentum as it embraces investment in research and development (R&D), sustainability, and infrastructure. Although many opportunities have opened up over the past ten years, he said that the company will not set up assembly units in India. Instead, the vehicle manufacturer would prioritise value-oriented growth, sustainable growth, and national brand building in the country. By the end of the year, the German high-performance automaker would have 10 dealer-investors in India, giving it a presence in all significant tier-one markets, the company said. Platen also told Mint that Porsche is one of the fastest growing luxury car brands in India. As part of the luxury car market in India, Planten said that Porsche would continue to be small in terms of its volume. He added that the group would not see India as an emerging market anymore, especially in terms of establishing all operations in the country, arguing that India is a leading country in terms of software technologies. WATCH WION LIVE HERE

India can see quick transition to EVs: Senior Porsche executive

Indian tycoon Mukesh Ambani-owned Reliance Retail&nbsp;will get a $1 billion investment from Qatar’s sovereign wealth fund, valued at $100 billion, a report published in&nbsp;Financial Times said.

This is significant as it indicates Gulf investors’ growing exposure to India’s rapidly expanding economy.&nbsp;

The Reliance Industries subsidiary said on Wednesday that the $450 billion Qatar Investment Authority would acquire a 0.99 percent share in Reliance Retail Ventures Limited.

“QIA is committed to supporting innovative companies with high growth potential in India’s fast growing retail market,” Financial Times quoted QIA chief executive Mansoor Ebrahim al-Mahmoud as saying in a statement.

He also mentioned that&nbsp;Reliance&nbsp;Retail has joined the fund’s “growing and diverse portfolio of investments in India.”

The gas-rich Gulf state's sovereign wealth fund, which has also invested in Indian start-ups like online restaurant operator Rebel Foods and delivery group Swiggy, will be making one of its biggest bets on Indian retail with this investment. Qatar was reportedly exploring the investment last month, according to the Financial Times.

The sale comes after a string of other transactions by the QIA in India. According to market records, a fully owned subsidiary of the fund invested $474 million this month on a nearly 3 per cent investment in Gautam Adani’s renewable energy company Adani Green Energy.

About the Qatar Investment Authority &nbsp;

The Qatar Investment Authority (QIA) was established in 2005 with the goal of boosting the nation’s economy through asset diversification. Building on a more than 30-year history of investments, Qatar’s expanding portfolio of long-term strategic investments serves as a complement to the state’s natural resource wealth. The QIA, which has its main office in Doha, is set up to function at the highest levels of international investing. The QIA upholds the strongest financial and commercial requirements as a world-class investor.

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Indian tycoon Mukesh Ambani-owned Reliance Retail will get a $1 billion investment from Qatar’s sovereign wealth fund, valued at $100 billion, a report published in Financial Times said.

Indian tycoon Mukesh Ambani-owned Reliance Retail will get a $1 billion investment from Qatar’s sovereign wealth fund, valued at $100 billion, a report published in Financial Times said. This is significant as it indicates Gulf investors’ growing exposure to India’s rapidly expanding economy. The Reliance Industries subsidiary said on Wednesday that the $450 billion Qatar Investment Authority would acquire a 0.99 percent share in Reliance Retail Ventures Limited. “QIA is committed to supporting innovative companies with high growth potential in India’s fast growing retail market,” Financial Times quoted QIA chief executive Mansoor Ebrahim al-Mahmoud as saying in a statement. He also mentioned that Reliance Retail has joined the fund’s “growing and diverse portfolio of investments in India.” The gas-rich Gulf state's sovereign wealth fund, which has also invested in Indian start-ups like online restaurant operator Rebel Foods and delivery group Swiggy, will be making one of its biggest bets on Indian retail with this investment. Qatar was reportedly exploring the investment last month, according to the Financial Times. The sale comes after a string of other transactions by the QIA in India. According to market records, a fully owned subsidiary of the fund invested $474 million this month on a nearly 3 per cent investment in Gautam Adani’s renewable energy company Adani Green Energy. About the Qatar Investment Authority The Qatar Investment Authority (QIA) was established in 2005 with the goal of boosting the nation’s economy through asset diversification. Building on a more than 30-year history of investments, Qatar’s expanding portfolio of long-term strategic investments serves as a complement to the state’s natural resource wealth. The QIA, which has its main office in Doha, is set up to function at the highest levels of international investing. The QIA upholds the strongest financial and commercial requirements as a world-class investor. WATCH WION LIVE HERE

Qatar sovereign wealth fund to invest $1 billion in India’s Reliance retail

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