India's projected economic growth for 2022 has been downgraded by over two per cent to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday. The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6 per cent from 3.6 per cent due to shocks from the Ukraine war and changes in macroeconomic policies that put developing countries particularly at risk. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
The IAF is likely to deploy several C-17 aircraft as part of Operation Ganga from Tuesday, they said.
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.
After news about the demise of Pakistan's former president General Pervez Musharraf was confirmed, the country's Foreign Minister Bilawal Bhutto Zardari on Sunday changed his Twitter profile picture to a photograph of his mother Benazir Bhutto and the late Nawab Akbar Bugti, in whose murder the former military ruler was named.
The Xi Jinping regime might try to quell internal distress by directing nationalism and militarism against India, warn Ajay Shah and Gautam Bambawale.
Who won at the Globes? We tell you!
India has put curbs on wheat exports through the government route, starting November last year. This comes amid a surge in domestic prices of the cereal. In December, India exported 391 tonnes of wheat to Bangladesh and Bhutan. In November 2022, it had exported 375 tonnes of wheat only to Bhutan.
Bollywood hero on the run, hijacked weddings, shrinks in need of therapy, Sukanya Verma lists the chaos and entertainment on OTT this week.
Thousands of irate anti-government protesters in Sri Lanka on Saturday stormed into embattled President Rajapaksa's official residence in central Colombo's high-security Fort area after breaking the barricades, as they demanded his resignation over the island nation's worst economic crisis in recent memory.
According to the police, a Special Task Force team retaliated when the gangster, recently released from prison on bail, opened fire at them after being cornered. His car had crashed into a pole.
Ukrainian medical universities have allowed their foreign students to gain practical training at hospitals and clinics in their own countries, giving relief to thousands of Indian students who have fled the war-hit nation.
Investors' wealth has swelled by over Rs 13.16 lakh crore as benchmark indices continued their northward march for the fifth session on the trot on Monday. The 30-share BSE Sensex jumped 935.72 points or 1.68 per cent to settle at 56,486.02 on Monday. In the past five trading sessions, the benchmark has zoomed 3,643.27 points or 6.89 per cent. Propelled by the optimism in equities, the market capitalisation of BSE-listed firms jumped by Rs 13,16,944.74 crore in five trading sessions to Rs 2,54,27,775.78 crore.
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.
The likelihood is that India will maintain a moderately upbeat economic tempo -- well short of tearaway growth, explains T N Ninan.
The International Monetary Fund (IMF), in its latest World Economic Outlook report, has slashed its forecast for India's FY23 gross domestic product growth to 8.2 per cent from 9 per cent, saying that higher commodity prices will weigh on private consumption and investment. This was one of the steepest cuts for emerging economies compared to the IMF's January WEO forecasts. Saying that global economic prospects have worsened significantly due to commodity price volatility and disruption of supply chains caused by the war in Europe, IMF cut its global growth outlook for calendar year 2022 to 3.6 per cent from 4.4 per cent, and said both Russia and Ukraine could experience large GDP contractions.
Siachen 1987 reveals for the first time the Northern Army's 'intent' to use Siachen as an excuse to capture the strategic town of Skardu in PoK, notes military historian Colonel Anil A Athale (retd).
The Delhi high court on Tuesday sought Twitter's response on a lawsuit filed by Abhijit Iyer Mitra, seeking restoration of his account on the website that has been "unilaterally banned" and made inaccessible to his followers.
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.
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.
According to Rajeev Jayadevan, co-chairman, national Indian Medical Association Covid Task Force, the current scenario qualifies as a wave.
Balasore district hospital looked like a war zone with the injured lying on stretchers in the corridor and rooms bursting at its seams with extra beds propped up.
As many as 13 key vacant private FM radio stations in five towns are likely to become the battle ground for six big national private FM radio companies in the next month's financial bidding of 96 vacant stations across 48 cities.
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 best, wisest, and fairest next step in strengthening our own cause is to restore statehood to Jammu & Kashmir and allow the resumption of robust political activity. That's a box that remains unchecked on the Modi government's report card as we approach the fourth anniversary of Kashmir's Constitutional shift, notes Shekhar Gupta.
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.
Happily, it does not require the world to hold a mirror up for us. We can look at ourselves and understand easily if we choose to be honest about where we find ourselves three quarters of a century after Independence, asserts Aakar Patel.
Defiant employees from multiple US government agencies are fighting the Trump administration's gag orders on climate change and penchant for "alt facts" with rogue Twitter accounts.
Travel from India increased significantly after resumption of direct flights in March, Turkiye Tourism Board said, with destination weddings contributing to arrivals
The two main factions in Karnataka's Congress party -- one led by Siddaramaiah and the other by D K Shivakumar -- are both contenders for the chief ministership. Both groups have fought hard to get their choice of MLAs the party ticket, notes Aditi Phadnis.
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'.
Why is the government ignoring the advice of its own Economic Survey?
In line with the government's vision of 'Aatmanirbhar Bharat', the ministry of defence on Thursday signed contracts with Indian shipyards for the acquisition of 11 next generation offshore patrol vessels and six next generation missile vessels at a cost of nearly Rs 19,600 crore, officials said.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
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.
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 successful test firing of medium range surface-to-air missiles is welcome news for the IAF.
The status of the current submarine force level is alarming and we need to address the threat perceptions expeditiously. Critical decisions pertaining to national security cannot be delayed any further due to the rapidly changing maritime threat perceptions and growing strategic importance of the Indian Ocean region, asserts Commodore Venugopal Menon (retd).
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
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.
