India has approved the export of 75,000 tonnes of non-basmati rice to the United Arab Emirates, marking the 4th shipment allowed since India banned rice exports in July to control domestic inflation. Earlier, India permitted rice exports to Singapore, Bhutan and Mauritius after requests from those nations citing food security needs. The government stated that as a country mindful of global food security, India will continue supplying rice to friendly nations for domestic use only. Besides white rice, India has also exported broken rice to several African countries despite prohibiting overseas sales. The export ban in July came amid global supply worries after Russia's withdrawal from a Black Sea grain deal.

Industrialist Mukesh Ambani and his family visited Mumbai's Siddhivinayak Temple on Sunday to seek blessings from Lord Ganesha. He was accompanied by his wife Nita Ambani, children Isha and Anant, and grandchildren. Recently, the Ambanis hosted a Ganesh Chaturthi celebration at their residence Antilia, attended by Bollywood, sports, business, and political figures. Ganesh Chaturthi, marking Ganesha as the remover of obstacles, started on August 31. It is hugely celebrated in Maharashtra with thousands converging in temples. For the 10-day festival, people bring Ganesha idols home, fast, prepare feasts, and visit pandals. The Ambanis partook in the festivities by seeking blessings at Siddhivinayak Temple.  

The UK chapter of the World Hindu Economic Forum (WHEF) held its quarterly meeting on September 21 at the Anoopam Mission Swami Narayan Temple in London. Over 100 Hindu business leaders and community members gathered to network and discuss the global Hindu community. Key speaker Swami Vigyananand emphasized the need for Hindu business unity and leadership worldwide. The event promoted November's World Hindu Congress 2023 in Bangkok. It reflects a growing organisation among global Hindu entrepreneurs looking to leverage their collective influence. WHEF aims to foster collaboration and amplify the voice of the over 830,000 Hindu-owned businesses world.

The State Bank of India has introduced a revolutionary digital service to open NRE and NRO savings and current accounts for NRIs. Leveraging technology, SBI's YONO platform now enables a streamlined, hassle-free account opening process for new NRI customers. A key feature is real-time tracking of application status. This addresses a long-standing demand of NRIs for simplified banking services in India. By digitizing account opening and management, SBI aims to provide a seamless one-stop solution catering to all NRI requirements. The move underscores SBI's commitment to harnessing technology to improve customer experience.

Foxconn, Apple's largest supplier, is set to double its workforce in India. Foxconn India head V Lee announced the plans in a LinkedIn post wishing PM Modi on his birthday. Foxconn already employs 40,000 at its Tamil Nadu plant and seeks to rapidly expand manufacturing capacity in India amid worsening geopolitics. The move aligns with Foxconn's aim to reduce over-reliance on China. Lee stated Foxconn will work harder to present an even greater employment boost and investment next year. Reports last year suggested Foxconn planned to add 53,000 workers in India over two years. Recently, Foxconn announced $600 million investments in Karnataka focused on iPhone casing and chip equipment. The announcement highlights India's potential as Foxconn diversifies from China.

The UK government has announced a £1.25 billion investment package with Tata Steel to modernize the Port Talbot steelworks in Wales. The deal includes a £500 million government grant and will fund new electric arc furnace technology at the site, the largest steelworks in Wales. Prime Minister Rishi Sunak described the investment as a pivotal moment for British steelmaking. The project is expected to cut carbon emissions by 1.5% while safeguarding skilled jobs and driving economic growth. UK officials praised the collaborative initiative between government and industry for helping secure a sustainable future for steel production while fostering green industry and preserving employment.

Negotiations between India and Canada for a free trade agreement have hit a pause due to recent political developments in Canada. Sources said talks were abruptly halted last month and are expected to resume once bilateral issues are resolved. Hopes were high for an interim trade deal by year-end earlier. Ties have been strained over the rise of pro-Khalistan activities in Canada, which PM Modi strongly expressed concerns about during his meeting with Canadian PM Justin Trudeau at the G20 Summit. Despite this setback, both countries recognized potential for deepening economic engagement in previous trade dialogues. The negotiations for a comprehensive trade pact have been ongoing since 2010 but the latest suspension highlights current challenges.

The UK government has agreed to provide up to £500 million in funding to Tata Steel's Port Talbot steelworks, the country's largest, enabling it to transition to greener steel production. Tata will invest £700 million additionally as it installs new electric arc furnaces to cut emissions, though it had sought more funding from the government. While securing the plant's future, the move could cause about 3000 job losses across the UK. The new furnaces are expected to be operational in 3 years after regulatory approvals, reducing the site's carbon emissions by 85%. Unions have warned the less labor-intensive furnaces will require job cuts. Though late, the investment was welcomed for securing Port Talbot's future, but concerns remain over inadequate consultation regarding potential job losses. (Image courtesy: Tata Steel Europe)

The UK government has welcomed the strong cooperation so far through the UK-India Infrastructure Partnership, recalling last year's agreement to support India's National Infrastructure Pipeline. Announcing the launch of the UK-India Infrastructure Financing Bridge, the UK stated this joint initiative co-led by India's NITI Aayog and City of London Corporation will leverage expertise to unlock infrastructure investments in India. The collaborative bridge aims to phase and structure major infrastructure projects to boost financing, including via the City of London. This builds on the 2021 commitment to mobilize infrastructure investment for India. Chancellor Jeremy Hunt tweeted he was proud of the progress and called India exploring London Stock Exchange listings a big step forward.

Indian companies may soon be able to directly list their securities on the London Stock Exchange, as announced during the 12th UK-India Economic and Financial Dialogue meetings in Delhi. Indian Finance Minister Nirmala Sitharaman confirmed India will explore London as a permitted jurisdiction for overseas direct listings by domestic firms, following recent changes in regulations allowing access to global markets. UK Chancellor Jeremy Hunt welcomed the move, calling London the "Europe's Silicon Valley" and seeing major potential for cooperation with "Asia's Silicon Valley" India across sectors like technology and finance.