'In terms of semiconductors, challenges do remain in the pan industry, but I think we are much better than where we were a year or so back.'
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.
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.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
Akbar said the next general election "will be won on the basis of governance and not on journeys".
According to outsourcing advisors and experts, while almost half of the deals are likely to see delay, the others are expected to be renewed at a lower price as enterprises ask for discounts in roll-over contracts.
External Affairs Minister S Jaishankar has said India faces a 'very complicated challenge' from China, and the Narendra Modi government has taken steps to ensure no attempts are made to change the status quo in the border areas unilaterally.
Aavas is turning heads in the country's mortgage financing space because it selected to do business in a different way, says Mudar Patherya.
The 47-year-old senior cabinet minister was widely expected to become the third female British Prime Minister after 170,000 online and postal votes cast by Tory members, ending Sunak's historic run as the first member of Parliament of Indian heritage to compete for the top job at 10 Downing Street.
Tourism is badly affected. Entire apple orchards have been washed away. 2 million people are threatened with loss of livelihood.
As mostly sports-mad Mongolians cheer on the country's two medalists at the Rio Olympic Games, deepening economic troubles at home mean the new government cannot afford to pay its athletes.
After withdrawing record funds in 2021-22, foreign portfolio investors (FPIs) continued their sell-off in the last fiscal too and pulled out Rs 37,631 crore from Indian equities amid aggressive rate hikes by central banks globally. The outflow trend is likely to reverse in the current financial year since India has the best growth potential in the financial year 2023-24 (FY24), VK Vijayakumar, chief investment strategist at Geojit Financial Services, said. Market analysts believe that FPI flows in the current financial year would be decided by a host of factors, such as the US Federal Reserve's policy stance, oil prices movement and development in the geopolitical situation.
State-owned CIL on Monday said coal supply to the power sector rose 15.6 per cent to 49.7 million tonne last month in the wake of high demand of the dry fuel from electricity generating plants and stressed that it is planning to augment its dispatches further, especially to power plants in the coming months. The statement comes at a time when several parts of the country are grappling with power crisis. "With the intense demand for coal continuing unabated driven by an upward spiral in the electricity generation, CIL (Coal India) pushed up its supplies to power plants of the country to 49.7 million tonnes (MT) in April'22.
'Already, the temperature has touched 39 degrees in some parts of Gujarat and now we are in the last week of February.' 'We need to activate the heat action plan from March 1.'
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
'We should look at is full year's growth rather than quarter numbers.'
Economist Jayati Ghosh noted that the word 'freebies' indicates the class position of those who use it.
Taliban cleric Sheikh Rahimullah Haqqani was killed in a blast which occured in Afghanistan's Kabul on Thursday, local media reported.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
The Maharashtra government on Tuesay banned digging of borewell below 200 feet in view of the acute water crisis in the state.
'Maggi issue gave us room for introspection.'
The sharp correction in the Indian markets from their peak levels has made valuations attractive, say analysts, who advise buying selectively, but only from a long-term perspective. Fifty-six of the Nifty 100 stocks, according to Mahesh Nandurkar, managing director at Jefferies, now trade below the 10-year historical averages, including stocks in financial, select auto, and pharma sectors. "Valuation (one-year forward consensus price-to-earnings, PE) has declined 25 per cent from October 2021 peak, almost matching the 33 per cent price-earnings contraction during the 2011 tightening cycle when repo rates went up by 375 basis points (bps) versus 250 bps this cycle.
A bench of Justices V M Kanande and M S Karnik, however, said on Thursday that it will not staying the match on April 9, but wanted to know from the state government and the municipal body whether the water supplied to the stadiums in tankers is potable or non-potable.
'The economic crisis hit us from nowhere. No one saw it coming.'
'Betrayed by Ronaldo'
The Aayog recently met the ministries on the issue.
Chartered flights may increase 34% from last year as more Russian tourists come calling.
Mutual funds' average cash holdings in equity schemes topped 6 per cent in February as fund managers went slow on deployment of new inflows on expectations of better buying opportunities amid uncertainties in the market.
If Mr Modi is to be blamed for the post-Godhra riots, he should also be given credit for maintaining peace after the Akshardham and Ahmedabad terror attacks. The BBC will never tell you that, points out Colonel Anil A Athale (retd).
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
'The semiconductor supply is constantly improving, with visible green-shoots in the situation as compared to earlier part of last year'
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
During an interaction -- Shiksha: Dasha Aur Disha -- with university students at the Jawaharlal Nehru Stadium, Delhi, he also alleged that the country's wealth is "concentrated" in the hands of "a few people".
'The reason being we cannot let premiums go beyond a certain point.'
The national carrier, which is already struggling with its fuel payments, spends Rs 6,000-7,000 crore annually on fuel. A 10 per cent hike in crude price would mean over Rs 50-58 crore of extra costs for the airline.
For those who are unaware of the migrant crisis the EU is facing and wondering just what the fuss is all about, here's an explanation of what's going on.
"We are in a very comfortable situation today. The daily requirement of oxygen is 3.6 metric tonnes and we have about six tonnes available which will last for the entire day. It is quite a comfortable situation."
Farmer interest groups predict that unless the government corrects its agricultural pricing and procurement policy, it will face a political blowback.
Amid China's economic slowdown, the country's economic challenges may increase manifold and its economy may be hit harder in the wake of the Ukraine-Russia crisis.
