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China's Singles' Day shopping festival experiences waning consumer enthusiasm amidst economic concerns, prompting e-commerce giants like Alibaba to seek growth in overseas markets. Consumers, wary of promotional tactics and facing financial constraints, are spending less, leading businesses to question the event's profitability despite efforts to attract buyers with discounts and global shipping offers.
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News and Media
The current law says an FPI cannot hold more than 10% of the total paid-up equity capital as portfolio investment in an Indian company. The investment is categorised as foreign direct investment (FDI) if the holding exceeds the 10% limit. Until now, there was lack of clarity on how the offshore portfolio manager could go about classifying and reporting the stake once the holding crosses 10%.
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News and Media
India's government spending for the current fiscal year is expected to stay around the budgeted amount, despite upcoming requests for additional funds. The focus remains on meeting the fiscal deficit target by managing spending and boosting capital investments, which have lagged in the first half of the year.
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News and Media
The Indian government is poised to approve employment-linked incentive schemes after assembly elections conclude in Jharkhand and Maharashtra. The labor ministry aims to implement these schemes by 2024, aiming to transition a significant portion of India's informal workforce into formal employment, ensuring minimum wages and social security benefits.
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News and Media
At the COP29 climate summit in Azerbaijan, US climate envoy John Podesta reassured nations that the US remains committed to combating climate change despite Trump's election victory. However, the summit faced challenges including setting the agenda and securing climate finance for developing countries, amidst concerns over Trump's pledges to reverse climate action and maximize fossil fuel production.
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News and Media
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