'The China opportunity, the digital opportunity and the end of geography opportunity are the three pieces of luck India got due to Covid.'
The Reserve Bank of India (RBI) unions have decided to intensify their stir demanding revision of wages, pending since November 2017, and have called for mass casual leave of employees at the central bank on November 30. However, several sources in the RBI told Business Standard that the unions may not have to go on agitation, as the new contours of the wage pact have been almost finalised and could be announced any time. An email sent to the RBI was not answered. The United Forum of Reserve Bank Officers and Employees had deferred its agitation earlier after it was told that RBI Governor Shaktikanta Das was to hold talks with the human resource management department (HRMD).
'He is a busy man these days, still, he makes it a point to call me at least once a month.'
Moody's on Thursday upped India's growth projection for the next financial year beginning April 1, to 13.7 per cent, from 10.8 per cent estimated earlier, on the back of normalisation of activity and growing confidence in the market with the rollout of COVID-19 vaccine. For current fiscal, the US-based rating agency expects the economy to contract 7 per cent, lower than its previous estimate of 10.6 per cent contraction.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
The fundamental debate remains where you stand on the long-term growth question. That is what every investor must monitor and come to their own conclusions, suggests Akash Prakash.
'No production house can afford to pay what A-listers were demanding before the pandemic.'
Remember, the security of your job primarily depends on two major factors -- how relevant you are for the organisation and how the organisation is aligned to its stakeholders (investors, clients and employees)
Vidyut Jammwal's latest offering Khuda Haafiz is neither entertaining nor high on action, feels Namrata Thakker.
Concerned over elevated inflation, Reserve Bank of India on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
During recession, consumers tend to vouch for safer choices, and that is where Nokia can build its brand during the downturn, says D Shivakumar, MD and VP-markets, Nokia India.
At a time when the world economy is facing the worst credit freeze in several decades, India attracted $2.7-billion FDI in January, up 58.8 per cent from a year ago, and remained a favourite destination for cross-border investments.
The economic downturn has wiped off thousands of jobs from hundreds of the American companies, but the same crisis has prompted the US administration to announce a massive hiring of 50,000 police personnel.
All people deserve to have a voice in their government and be treated with respect no matter who they are, US Secretary of State Antony Blinken said on Wednesday while noting that Indians and Americans believe in human dignity, in equality of opportunity, the rule of law, fundamental freedoms, including freedom of religion and belief.
As many as 95 MPs did not attend even a single meeting of the parliamentary standing committees that reviewed allocations for different ministries post-presentation of the Union Budget for the 2020-21 fiscal, Rajya Sabha Chairman Venkaiah Naidu said on Monday. Giving an account of the meetings of these panels on the opening day of the Rajya Sabha after the recess, Naidu said, "Ninety-five members, accounting for 39 per cent of the total 244, did not attend any meeting on the demands for grants. Only 28 members had zero attendance last time."
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
Annual festivals at IITs and IIMs to be low-key affairs as sponsorships dry up.
Downing Street confirmed that the two senior-most United Kingdom government officials had received notification from the Metropolitan Police that they would be given "fixed penalty notices".
The government has an opportunity right now to save Indians from deep recession, and in many cases, starvation, notes Kalyan Singhal.
If the initial analysis of this YJ-21 is correct, then China becomes the first country in the world to operationally field such a missile from a naval vessel.
Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports.
While Defence Minister Rajnath Singh spoke about the consensus, Parliamentary Affairs Minister Pralhad Joshi said there is no need for a separate discussion in Parliament on the Pegasus issue during the budget session.
On Monday, the world's biggest food company and the leading Swiss giant Nestle announced an impressive growth of 6 per cent in the first quarter sales that touched over $25.21 billion (Swiss francs 25.7 billion). The company is confident that its full year growth forecast is on target.
'We are going to have a recession this year, maybe next year too...'
As the economy teeters between bad and worse, one question looms: What's the best course of action? Here's what can be done. And what can't
Signs that even the world's richest consumers are falling prey to recessionary fears gathered pace as two big luxury goods makers said demand from Japan and the US for Cartier watches, designer handbags and fine jewellery was slowing.
Addressing a campaign rally in Las Vegas, Nevada on Friday, Biden said that the country deserved a president who understood what people were going through.
In the first reduction in rates in over a year, petrol price on Wednesday was cut by 18 paise per litre and diesel by 17 paise a litre as international oil prices tumbled to the lowest since early February.
'We have to plan for whatever the new normal is.'
Noting that external risks to global growth has increased significantly now, the Crisil report quotes its parent S&P's forecast of a recession in the US and in the Eurozone, and a record low growth in China, which is seen crashing to 2.9 per cent now, almost half of what it had said on March 5 when it has pegged the same at 4.8 per cent.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
The government told an all-party meeting Monday that it does not intend to bring any legislative business in Rajya Sabha during the first part of the Budget Session which is till February 11, sources said.
Watch all the debates and proceedings.
Remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year due to the coronavirus pandemic, which has resulted in a global recession, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the pandemic and shutdowns, according to a World Bank report on the impact of the Covid-19 on migration and remittances released on Wednesday.
Fireworks and music broke out across the country after the 3-2 shootout win
Pakistan's National Assembly resumed its crucial session on Monday after a two-day recess where Opposition is likely to formally table the no-trust motion against embattled Prime Minister Imran Khan amidst fluid political situation in the country.
The first part of the Budget Session of Parliament is likely to end on February 13 instead of February 15, sources said on Friday, underling that the total number of working days would however remain the same.
Bajaj Finance was the top loser in the Sensex pack, tanking over 10 per cent, followed by Axis Bank, Maruti, M&M, Tech Mahindra and ONGC. The gainers included ITC, Bharti Airtel, Kotak Bank and Hero MotoCorp.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
The founder of Silicon Alley Reporter and Mahalo.com offers advice to employers trying to make the right hire and candidates struggling to land a job
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