Dominic Xavier wonders why the government wants to spend so much money on construction at a time when the money could be put to better use to address and alleviate the agony and misery that so many Indians experience each day.
The main topics of discussions at this years Toronto conference organised by NetIP will be energy and Barack Obama.
The shipping business is like the heaving sea -- it's up and down, observes Shyam G Menon.
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
The value of her private estate fell by 19 per cent in 2008-09 due to a crash in property and investment markets.
Many years during which monsoons were poor saw high returns, while normal or excess rainfall has also coincided with poor calendar year gains.
Fitch Ratings has revised India's GDP growth estimate to 12.8 per cent for the fiscal year beginning April 1 from its previous estimate of 11 per cent, saying its recovery from the depths of the lockdown-induced recession has been swifter than expected. In its latest Global Economic Outlook (GEO), Fitch said revision is on the back of "a stronger carryover effect, a looser fiscal stance and better virus containment." "India's second half of 2020 rebound also took GDP back above its pre-pandemic level and we have revised up our 2021-2022 forecast to 12.8 per cent from 11.0 per cent," it said. "Nevertheless, we expect the level of Indian GDP to remain well below our pre-pandemic forecast trajectory."
He won't do unicorns, but for snakes and skulls, tattoo artist Paul Booth charges $400 an hour.
'If money is spent on good projects, then it is explainable, especially in deflationary circumstances. To boost demand, there is a need to increase spending,' Justin Yifu Lin, chief economist, World Bank.
The downturn in global economy has hit the merger and acquisition transactions as their value so far this year has dropped 35 per cent at $384 billion.
The company plans to consolidate its position in the existing markets in the north, west and eastern region, and foray into the southern states by the end of this year. Hina Nagarajan, country manager, Mary Kay, told Business Standard that the brand was launched in India in September 2007 and has a sales force of over 3,000 women.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
Atul Khekade, CEO, Airnetz, tells young entrepreneurs on how to survive the current economic recession.
Come January 15 and it is not unusual for Bahujan Samaj Party president and Uttar Pradesh Chief Minister Mayawati to show her paranoia invariably on account of the perennial accusation that the collection of money for her birthday 'gift', more often than not, culminates into extortion.
Top losers in the Sensex pack included ICICI Bank, IndusInd Bank, Bajaj Finance, Kotak Bank, HDFC, Infosys and SBI. On the other hand, HUL, Hero MotoCorp, PowerGrid, Maruti and Asian Paints were among the gainers. NSE Nifty slumped 230.35 points or 2.50 per cent to close at 8,967.05.
'The potential headwind is that the Indian economy is likely to see a slowdown in growth rates over the next two years.'
Swiss banking major UBS on Monday said it would adopt a new compensation model for the board of directors for next year and its top executives would not receive any bonus for 2008.
Words and actions like those of R N Ravi and a vocal section of the state BJP have only added to Tamil fears and suspicions, points out N Sathiya Moorthy.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
Cities with a strong presence in health care, education, law, energy, and the government will feel the impact of a downturn less.
These jobs don't necessarily require a degree in engineering or specialisation in coding.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
American retail giant Walmart is not keen on opening direct-to-consumer physical stores in India, but will focus on growing its acquisitions - online marketplace Flipkart and payments major PhonePe, a top official said on Friday. It can be noted that the company acquired Flipkart and PhonePe in a $16 billion deal a few years back. "We've got an omnichannel strategy that includes both of those components.
Domestic ratings agency Icra on Monday forecast a 2 per cent GDP growth in the fourth quarter of 2020-21, and a 7.3 per cent contraction for the full fiscal year. From a GVA or gross value added perspective, the agency pegs Q4 growth at 3 per cent and the full year contraction at 6.3 per cent. According to the agency, the 2 per cent projected GDP growth will help the economy avoid a double-dip recession as indicated by the National Statistical Office (NSO) for Q4. Icra's projection is better than the 8 per cent contraction forecast by the NSO as it sees Q4 growth at only 1.1 per cent.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
As a slowdown looms, Indians remain optimistic, albeit cautiously so. The survey is the largest bi-annual study of its kind. The April round covered 28,253 Internet users in 51 markets. The previous leg was conducted on 26,000 people across 48 countries.
The consumer price index was estimated as being up 3.5 per cent in March from a year ago, the biggest increase in 15 years. On June 6, 2007, the European Central Bank raised its key interest rate from 3.75 pe cent to 4.00 per cent, the highest level in almost four years. In terms of economic freedom, old Europe still lags behind. The Heritage Foundation has the three largest economies, Germany, France, and Italy, ranked 19th, 45th, and 60th respectively in the world.
This is clearly the worst financial problem we've had since the Great Depression," as Joseph Stiglitz told a radio show in New Zealand on Wednesday morning.
Dan Warmenhoven, CEO of Network Appliance (NetApp), the $3 billion network storage solutions provider is bullish on India and the growth of the company despite the slowdown in the US.
In spite of FM's assurance, experts feel that US recession will have definite repercussions on the Indian economy. But it will continue to enjoy a positive run.
Slower growth in the developed world is expected to impact emerging economies like India by reducing demand for their exports in rich country markets.
Tata Consultancy Services (TCS) - the largest information technology (IT) services provider in India and the second-largest globally - recently set an ambitious goal of $50 billion in revenue by 2030. The growth required to reach this goal, however, is lower than the company's own standards. In the past decade, TCS revenues, or net sales in US dollar terms, have grown at a compound annual growth rate (CAGR) of 9.5 per cent, from $10.2 in 2011-12, to an expected $25.3 billion during 2021-22 (FY22), based on its revenue trend in the first nine months of FY22.
The Supreme Court on Thursday said it will list for hearing a public interest litigation challenging the validity of two ordinances under which the tenure of the directors of Central Bureau of Investigation and the Enforcement Directorate can now be extended by up to three years after the mandated term of two years.
The inflows meant assets under management of gold ETFs climbed by over 4 per cent to Rs 13,503 crore at the end of August from Rs 12,941 crore at July-end.
Vedanta, Tata Steel, Tata Motors, ONGC, M&M, Maruti, NTPC and HUL too fell up to 4.06 per cent.
Axis Bank was the top loser in the Sensex pack, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T. NSE Nifty nosedived 1,135.20 points or 12.98 per cent to settle at 7,610.25.
Indian companies are expected to dole out an average increment of 9.1 per cent in 2022, higher than the pre-COVID-19 increment in 2019, as companies are focusing on retention of talent through rewards. According to the 2022 Workforce and Increments Trends Survey by Deloitte Touche Tohmatsu India LLP, the average India 2022 increment is expected to go up to 9.1 per cent from eight per cent in 2021. Moreover, the 2022 projected increment is higher than the pre-COVID-19 increment in 2019 by 50 basis points (bps).
SBI was the biggest gainer in the Sensex pack, rallying up to 12 per cent, followed by Sun Pharma, HDFC, Tata Steel, Bajaj Finance, Maruti, ICICI Bank and Bharti Airtel.
The company sees many more areas of inorganic growth in the future.
The Indian economy will suffer lasting damage from the coronavirus crisis and after an initial strong rebound in FY22 (fiscal year ending March 2022) growth will slow to around 6.5 per cent a year over FY23-FY26, Fitch Ratings said on Thursday. "A combination of supply-side scarring and demand-side constraints - such as the weak state of the financial sector - will keep the level of GDP well below its pre-pandemic path," it said in commentary on the Indian economy. Fitch said India's coronavirus-induced recession has been among the most severe in the world, amid a stringent lockdown and limited direct fiscal support.
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