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Showing posts from August, 2023

Reliance Industries and BlackRock forge partnership to transform India's asset management industry

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Reliance Industries, at its Annual General Meeting (AGM) on Monday (August 28), announced a joint venture with BlackRock, the world's largest asset management company, to revolutionise India's asset management landscape.   This strategic partnership, known as Jio BlackRock, aims to provide accessible and innovative investment solutions, underpinned by cutting-edge technology. Mukesh Ambani, Chairman, and CEO of Reliance Industries, expressed his excitement about this collaboration, emphasising the shared commitment to creating better financial futures. The venture marks a significant milestone in both companies' missions to make investing easier and more affordable for millions of people. Larry Fink, Chairman and CEO of BlackRock, expressed his excitement for the partnership and highlighted India's role in the global landscape. BlackRock has had a growing presence in India over the past 15 years and recognises the country's potential as a hub of digital transformati...

British Museum seeks recovery of some 2,000 stolen items

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An employee poses as he views examples of the Parthenon sculptures, sometimes referred to in the UK as the Elgin Marbles, on display at the British Museum in London, Britain, January 25, 2023. LONDON, Aug 26 (Reuters) - Around 2,000 artefacts including gold jewellery and gems had been stolen from the British Museum over a long period of time, but recovery efforts were already under way, the museum's chair George Osborne said on Saturday. The museum, one of London's most popular attractions whose treasures include the Rosetta Stone, an ancient Egyptian relic inscribed with hieroglyphs and other texts, said last week a member of staff had been dismissed after items dating from the 15th century BC to the 19th century AD had been taken from a storeroom. Museum director Hartwig Fischer  said on  Friday he would step down after admitting to failings in its investigation into the theft of items from its collection. Osborne, a former British finance minister, told BBC radio that not a...

Inflation hurting Modi, but still likely to win India's 2024 polls, survey shows

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Prime Minister of India Narendra Modi gestures at the plenary session during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa August 23, 2023. GIANLUIGI GUERCIA/Pool   NEW DELHI, Aug 25 (Reuters) - Indian voters are growing unhappy with Prime Minister Narendra Modi's government due to high inflation and unemployment but he is still on track to comfortably win a third term in elections next year due to his personal popularity, a key survey said. The popularity of main opposition leader Rahul Gandhi has risen and a new, 26-party opposition alliance called "INDIA" is expected to do well, the "Mood of the Nation" survey by India Today magazine said on Friday. Modi, however, is far ahead of Gandhi with a 36-point lead as the candidate best-suited to be India's next prime minister and his Bharatiya Janata Party (BJP) will win 287 seats in the 542-member lower house of parliament if elections are held now, it said. National elect...

Analysis: Investors see long wait for enlarged BRICS' economic boon

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resident of Brazil Luiz Inacio Lula da Silva, President of China Xi Jinping, South African President Cyril Ramaphosa, Prime Minister of India Narendra Modi and Russia's Foreign Minister Sergei Lavrov pose for a BRICS family photo during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa, on August 23, 2023   Investors sceptical larger BRICS will lead to investment boom Saudi Arabia, UAE, Iran among those joining club Fuels speculation oil producers to switch to non-USD trade JOHANNESBURG/LONDON, Aug 25 (Reuters) - The  expansion of the BRICS  group of developing countries could provide a lifeline to capital-starved new entrants Iran and Argentina, but investors and analysts say a broader economic boon for the bloc's members is far from certain. Leaders of the BRICS - Brazil, Russia, India, China and South Africa - invited the two as well as Saudi Arabia, the United Arab Emirates (UAE), Ethiopia and Egypt into the club at a summit this wee...

India hopes to conclude free trade deal with Britain this year, finance minister says

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India's Finance Minister Nirmala Sitharaman speaks during a press conference after a G20 Finance Ministers' and Central Bank governors' meeting at Gandhinagar, India, July 18, 2023.   NEW DELHI, Aug 25 (Reuters) - India hopes to conclude talks over a free trade deal with Britain by the end of this year, India's finance minister Nirmala Sitharaman said on Friday, amid consensus on broad contours of the pact meant to boost economic growth and jobs. Sitharaman spoke as Britain's trade minister Kemi Badenoch visits India for a G20 meeting, after free trade talks  have gathered momentum  in recent months. "I won't be wrong in saying a free trade agreement with UK is very close," Sitharaman said at an industry conference in New Delhi. While there isn't a deadline to close the deal, India is committed to "a good outcome at the fastest possible speed", its trade minister Piyush Goyal said at a separate press conference on Friday. In a panel sessi...

Russian mercenary Yevgeny Prigozhin's plane appeared fine on radar until last 30 seconds

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Aug 23 (Reuters) - An Embraer  (EMBR3.SA)  Legacy 600 executive jet, believed to have carried Wagner mercenary chief  Yevgeny Prigozhin to his death  on Wednesday, showed no sign of problem until a precipitous drop in its final 30 seconds, according to flight-tracking data. Rosaviatsia, Russia's aviation agency said Prigozhin, who led an aborted mutiny in June, was one of 10 people on board the downed plane. It was traveling from Moscow to St. Petersburg when it crashed near the village of Kuzhenkino in the Tver Region, Russia's emergency situations ministry said. At 3:19 p.m. GMT, the aircraft made a “sudden downward vertical,” said Ian Petchenik of Flightradar24. Within about 30 seconds, the aircraft had plummeted more than 8,000 feet from its cruising altitude of 28,000 feet. “Whatever happened, happened quickly,” Petchenik said. “They may have been wrestling (with the aircraft) after whatever happened," Petchenik said. But prior to its dramatic drop, there was "n...

The ancient technology keeping space missions alive

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  Some of the most famous space missions, including the two Voyager probes, have been exploring our Solar System for decades. The technology helping to keep them aloft, however, is not what you'd expect. 4 June 1996, European space port, French Guiana… It took more than 10 years to design and build Europe's four identical Cluster satellites for launch; and just 39 seconds to lose them all in an enormous fireball. Their remains rained down over the South American jungle as the Ariane 5 rocket veered off course and exploded. VIPs who had been sipping champagne on the outdoor viewing gallery moments earlier were ushered back inside to avoid being injured by the falling debris. The disaster was one of the European Space Agency's (Esa) most visible and spectacular failures . But within months, work had begun on a replacement mission, Cluster II. Designed to fly in formation to investigate the interaction between charged particles from the Sun – the solar wind ­– and...