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Good morning. India has warned its residents to “train utmost warning” if travelling to Canada, amid a disaster in bilateral relations over the killing in June of a Canadian Sikh.
India’s warning, which it stated was prompted by Canada’s “deteriorating safety atmosphere”, got here after Prime Minister Justin Trudeau stated on Monday there have been credible allegations that Indian brokers have been concerned within the homicide of Sikh activist Hardeep Singh Nijjar.
The federal government of Prime Minister Narendra Modi has rejected as absurd Canada’s allegations of its potential involvement within the killing of Nijjar, a campaigner for the creation of an impartial Sikh state who had been designated as a terrorist by New Delhi.
The dispute has resounded in Canada — a rustic with one of many world’s largest Indian diaspora populations — and positioned the 2 nations’ allies in a fragile spot at a time when India is changing into an more and more valued companion for the US and different western democracies looking for to counter China. The FT’s John Reed reports from New Delhi.
Right here’s what else I’m preserving tabs on right this moment:
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Financial coverage: The Financial institution of England publicizes its rate of interest resolution, a day after inflation figures confirmed costs rose less than expected in August. The Financial institution of Japan begins a two-day assembly forward of its personal rate of interest announcement on Friday.
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Volodymyr Zelenskyy in Washington: Ukraine’s president is anticipated to ask for more military aid throughout a go to to the US capital.
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Books: The Monetary Instances Enterprise E-book of the Yr shortlist can be introduced.
Be a part of Martin Wolf, FT China watchers and UBS China economist Tao Wang for a subscriber-only webinar on China’s financial slowdown right this moment at 11am GMT +1. Register for free here.
5 extra prime tales
1. Federal Reserve officers on Wednesday signalled help for one more charge rise this 12 months and fewer cuts in 2024 even because the US central financial institution held its benchmark rate of interest regular at a 22-year excessive. The Federal Open Market Committee stated it remained “extremely attentive to inflation dangers”, noting that financial exercise had been increasing at a “stable tempo” and that jobs features, whereas slower, have been “sturdy”. Here’s more on the Fed’s latest meeting.
2. WhatsApp has launched its in-chat funds service for companies in India. Tons of of thousands and thousands of WhatsApp customers in India will have the ability to pay for services and products via the chat app, as its guardian firm Meta seeks to generate more revenue from the messaging service in its biggest market.
3. World funding banks are eyeing growth in India, attracted by sturdy financial progress and the will to scale back publicity to China amid tensions with the US. “It’s virtually inconceivable for a world financial institution to disregard India,” stated Debasish Purohit, co-head of India funding banking at Financial institution of America. Read the full story.
4. Goldman Sachs has raised greater than $15bn to purchase buyers’ stakes in non-public fairness funds and put money into offers the place buyout teams promote portfolio firms from one among their funds to a different. The fundraise is the most recent signal of sustained help for the fast-growing “secondary” technique amid a broader slowdown in buyout fundraising. The FT’s Will Louch reports.
5. Amazon is trying to faucet generative AI to reignite pleasure about its dwelling gadgets, together with the Alexa voice assistant, towards a backdrop of job cuts within the firm’s {hardware} division. Generative AI would “drive a completely new Alexa expertise” and usher into life a “smarter and extra conversational” voice assistant, Amazon’s head of gadgets, Dave Limp, stated on Wednesday. Here are more details on the AI-driven upgrades.
Deep dive
![](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F27262d52-330c-4418-88c2-d0a159052345.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1)
The inexperienced transition is fuelling growing demand for uncommon earths in Europe. Though they’re discovered internationally, no nation has exploited these minerals like China, which accounted for 70 per cent of rare-earth mining manufacturing final 12 months. With the EU virtually fully depending on the nation for the provision and processing of uncommon earths, can Europe go inexperienced with out China? The FT’s visual team investigates.
We’re additionally studying . . .
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Company malfeasatainment: Might the downfall of a second-hand automobile supplier show restorative for Japan’s psyche?
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In defence of the UN: The organisation badly wants reform. However Gillian Tett nonetheless believes the world would be worse off right this moment with out it.
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Afro-Indian commerce: The latest G20 summit in New Delhi brokered everlasting membership for the African Union, presenting a huge opportunity for both Africa and India.
Graphic of the day
![Huawei's smartphone chip](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd6c748xw2pzm8.cloudfront.net%2Fprod%2F7a799c60-5704-11ee-bd76-87043984f5e3-standard.png?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1)
Evaluation of the principle chip inside Huawei’s Mate 60 Professional smartphone reveals that the Chinese language firm has joined the elite group of Huge Tech firms — together with Apple — able to designing their very own semiconductors. Going through US sanctions, the breakthrough will assist the Chinese language firm to reduce its reliance on foreign technology.
Take a break from the information
Latin reggaeton famous person J Balvin has teamed up with Australian-born museum director Melissa Chiu to convey artwork — and psychological well being consciousness — to Gen Z.
![Melissa Chiu and J Balvin in front of I Spend Each Day Embracing Flowers, 2023, by Yayoi Kasuma, at David Zwirner, New York](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4a3f1090-2ea8-40e3-8eab-aa4c39007ff0.png?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1)
Extra contributions from Tee Zhuo and Gordon Smith