When Jaipur's Maharaja Madho Singh was invited to attend King Edward VII's coronation in 1902, he chartered a ship for Rs 15 lakh for the journey. He also carried 27,000 litres of Ganga jal on board. Prakash Bhandari recalls the maharaja's voyage to attend a British monarch's coronation on a day when Charles III will be crowned king at Westminster Abbey.
The Karnataka government on Saturday said the mortal remains of a medical student from the state, who was killed in Russian shelling in war-torn Ukraine, is expected to reach the airport in Bengaluru early on March 21, and all the documentations required for transportation have been completed.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
Pele, the legendary Brazilian soccer player who rose from barefoot poverty to become one of the greatest and best-known athletes in modern history, died on Thursday at the age of 82.
Chief economic advisor V Anantha Nageswaran on Tuesday said Indian economy will grow at over 7 per cent, down from above 8 per cent of growth rate projected in January. He, however, said that the economic momentum and the animal spirits are "unmistakable". "India's own growth rates have come off the projections made in January down to about 7-plus per cent for the current financial year," Nageswaran said speaking at Global Fintech Fest event in Mumbai.
In a fresh anti-India tirade, Pakistan's Defence Minister Khawaja Asif has alleged that the assault on an Indian army base in Uri that killed 18 soldiers was a "plan devised by India itself".
Three evacuation flights from Romania's capital Bucharest and Hungary's capital Budapest came to India on Tuesday with 616 Indian nationals who were stranded in Ukraine due to the Russian military offensive, officials said.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
Indian officials will focus on expanding the country's footprint in oil-rich Siberia when they meet their Russian counterparts at the four-day 7th Eastern Economic Forum beginning Monday in Vladivostok. The two sides will discuss the possibility of joint oil exploration in the area and cooperation in running offshore oil and gas fields Western companies are in the process of exiting, officials said in New Delhi. Pavan Kapoor, India's ambassador to Russia, will lead the official-level talks at the summit scheduled September 5-8.
The Bombay high court on Thursday said Jesuit priest and activist Stan Swamy, arrested in the Elgar Parishad-Maoist links case, shall remain admitted in a Mumba-based private hospital till June 18 as he is suffering from Covid-19.
'India's manufacturing will take 10-15 years to catch up with China.'
United States President Joe Biden warned Americans in Ukraine to leave the country immediately amid tensions between Moscow and Kiev, saying that sending US troops for an evacuation would mean 'world war'.
Who won at the Globes? We tell you!
Leading economists have pencilled in a high 13-15.7 per cent uptick in the economy in the first quarter of 2022-23 with an upward bias. Soumya Kanti Ghosh, the group chief economic adviser at State Bank of India, on Tuesday said he expects the GDP to clip past 15.7 per cent in the first quarter with more chances of the final numbers printing in higher, while Aditi Nayar, the chief economist at the rating agency Icra, said the economy will grow much lower at 13 per cent in the June quarter. The national statistical office will announce the first quarter GDP numbers later next week.
Punjab Chief Minister Bhagwant Mann, 48, will tie the nuptial knot in Chandigarh on Thursday, party leaders confirmed.
The India-Japan global partnership is based on shared democratic values and respect for the rule of law and promotes peace and stability in the Indo-Pacific, Prime Minister Narendra Modi said on Monday after holding wide-ranging talks with his Japanese counterpart Fumio Kishida.
The SSP said the investigation of the matter and questioning of the infiltrator will be conducted later.
Kirloskar siblings Rahul and Atul on Saturday raised questions over corporate governance of Kirloskar Brothers Ltd, led by their warring brother Sanjay, after having been cleared of insider trading charges labelled against them.
PE funds say they have enough money to buy two or three of the indebted companies and the issue is not cash but the management bandwidth to turn them around.
India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13. "The export policy of wheat ... is prohibited with immediate effect...," the DGFT said. It also clarified that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
'Last year, India exported more software than Saudi Arabia exported oil.' 'Last year India got $83 billion of private equity.' '50 percent of India's FDI has come in the last five years.'
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
Railway officials also indicated that possible 'sabotage' and tampering with the electronic interlocking system, which detects the presence of trains, led to the Friday accident.
India will need to travel back in time and seek inspiration from football greats Tulsidas Balaram and Chuni Goswami to deftly dribble around and sidestep the West-imposed price cap on exports of Russian seaborne crude oil. India depends on imported oil to meet 86 per cent of its needs, of which nearly a quarter now comes from Russia. The copious flows are roughly 10 per cent cheaper than competing suppliers helping India save billions of dollars in fuel costs.
AELTC took the decision in the wake of Russia's invasion of Ukraine
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
President Gotabaya Rajapaksa, who is currently facing public demand for his resignation over his mishandling of the economic crisis, is the man who ruthlessly ended Sri Lanka's nearly 30-year civil war with the LTTE with the death of its supremo Velupillai Prabhakaran in 2009.
The 21-year-old final year student at Kharkiv National Medical University had died on March one, in the conflict zone, tragically becoming India's first casualty in the ongoing offensive in the eastern European nation.
Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report. In the fiscal ended March 2022, bank advances have likely grown at 9-10 per cent. "Healthy economic growth and budgetary support from the government should lift bank credit growth by 200-300 basis points to 11-12 per cent this fiscal," Crisil Ratings said in the report. The higher credit growth expectation is also supported by the improved resilience of the banking system, it added.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
After the Russian aviation sector was hit by crippling Western sanctions for war against Ukraine, China refused to supply Russia with aircraft parts.
Raw material prices had been on the rise, but since Russia waged war on Ukraine, prices have surged.
'The selling in India may emerge as soon as the RBI reverses its interest rate stance.'
'RBI is already late in addressing inflation pressures.'
The bench, comprising acting Chief Justice S S Saron and Justices Surya Kant and Avneesh Jhingan, directed that no FIR registered by the two states during the episode shall be cancelled without the permission of the high court.
'The inflection point that really happened in the sector was during the pandemic when buyers' perception changed towards consumption and that gave a trigger to pent-up demand with the increased affordability.'
A video is being shared on social media showing the protesters counting the currency notes that were unearthed. The recovered money was said to be handed over to the security units, the Daily Mirror newspaper reported.
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