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BusinessPhoto: News18Hi BusinessChina has been continuously buying gold for 23 months, increasing its gold reserves to a record 2,410 tons. This move follows the freezing of nearly $300 billion of Russia's foreign currency reserves by the US and Western countries after the Ukraine invasion. China appears to be betting on gold as a strategic reserve asset under Xi Jinping's plan.
News18Hi Business·
BusinessPhoto: Mint MarketsMSCI Inc. is considering removing Indonesia from its global indexes, posing a significant challenge to Southeast Asia's largest economy. This development comes at a difficult time as Indonesia was beginning to recover from recent economic instability. The potential removal could trigger an exodus of international capital, impacting the country's financial markets and economic growth prospects.
Mint Markets·
BusinessPhoto: Economic TimesPaul John, founder of John Distilleries, is considering keeping a 10% to 20% minority stake in the company. Sazerac currently owns 65.7% and values John Distilleries at around ₹4,500 crore. The company reported a 15.1% revenue increase to ₹10,820 crore in FY26, with a significant net profit rise. However, rising state duties in Karnataka are affecting retail prices and consumption.
Economic Times··Bengaluru
TechnologyPhoto: Economic TimesSaudi Arabia has shown interest in collaborating with India on extra-high-voltage electricity transmission systems, focusing on renewable energy integration to meet increasing power demands. Officials from both countries held a virtual meeting to discuss technical cooperation addressing electricity needs for data centres and grid codes. Discussions on electrical interconnection and further cooperation are ongoing.
Economic Times·
HealthPhoto: TOI BusinessThe Indian government has capped trade margins at 30% of the MRP on 137 cancer drugs, covering over 1,000 medicine brands. This move aims to reduce costs for patients, but effective implementation and monitoring are essential to ensure that the price cap results in lower medical bills for cancer treatment.
TOI Business·
WorldPhoto: TOI WorldAn Indian family with an infant was denied a US B1/B2 tourist visa during their interview, where officials questioned them about their travel to China. The woman shared their experience on Reddit, explaining that she and her husband applied for the visa to visit the US for a vacation. This case highlights increasing visa denials for Indian travelers this year.
TOI World·
News18Hi Business·
Photo: News18Hi BusinessChina has been continuously buying gold for 23 months, increasing its gold reserves to a record 2,410 tons. This move follows the freezing of nearly $300 billion of Russia's foreign currency reserves by the US and Western countries after the Ukraine invasion. China appears to be betting on gold as a strategic reserve asset under Xi Jinping's plan.
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