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Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
Revising India's GDP upwards by 0.3 per cent to 6.3 per cent in 2015, Asian Development Bank (ADB) has said the economy shows a new promise of turnaround after the election brought a stable government in May.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
The total market capitalisation of BSE-listed companies fell by Rs 1.36 lakh crore to Rs 93.33 lakh crore.
ICICI Bank UK Ltd, a wholly owned subsidiary of ICICI Bank Ltd, India's second largest Bank, has enhanced its presence in the United Kingdom by inaugurating branches in Manchester and Southall on Thursday.
Lavasa, a career bureaucrat, joined as Election Commissioner on January 23, 2018, and being senior most on the poll panel would have become CEC in April next year after the term of incumbent Sunil Arora ends.
Equity indices overcame a wobbly start to clock gains for the third session on the trot on Tuesday, propped up by banking, metal and energy stocks amid a mixed trend in global markets. A recovery in the rupee also bolstered sentiment, traders said. The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day.
Officials said the World Bank, Japan International Cooperation Agency and Asian Development Bank had evinced interest in the project.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Climate and sustainable development financing, multilateral institution reforms, regulation of digital assets, the spillover effect on developing economies from actions of western central banks, energy and food security in the backdrop of war in Europe, and sanctions on Russia and their impact on the global economy are some of the agenda items that India will take up as President of G-20, Finance Minister Nirmala Sitharaman said on Tuesday. India will take over as President of the powerful international grouping on December 1 for a year. There will be around 200 meetings throughout the country, with the summit Heads of State meeting expected to be held in New Delhi next September.
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Indian-American economist Arvind Panagariya has said that he is "honoured" to be appointed by Prime Minister Narendra Modi as the first Vice Chairman of the newly created NITI Aayog, which replaces the 65-year-old Planning Commission.
Pakistan has improved its full compliance on only two of the 40 FATF recommendations, the APG report noted.
ADB pegs India's GDP growth at 7.8 per cent in FY 2015-16
An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
There are various projections about India's growth.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
IFC will act as a transaction advisor for the projects to be developed in the public-private partnership mode.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
Manila-based Asian Development Bank (ADB) has upgraded India's economic growth forecast to 6.3 per cent in 2015-16 on hopes of speedy reform process.
The FATF warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses
Equity benchmark Sensex pared its early losses to close higher by 231 points on Monday, helped by buying in index heavyweight Reliance Industries and ICICI Bank amid positive global trends. After falling 537.11 points to a low of 56,825.09 in morning trade, the 30-share BSE barometer staged a recovery in afternoon trade and climbed 231.29 points or 0.40 per cent to settle at 57,593.49. As many as 20 Sensex stocks closed with gains while 10 declined. The broader NSE Nifty recovered 69 points or 0.40 per cent to settle at 17,222 with 29 of its constituents ending in green.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
Hectic preparations are on at the newly-formed Niti Aayog to welcome the first Vice-Chairman Arvind Panagariya and other members whose appointments were approved by Prime Minister Narendra Modi on Monday.
Hippocampus Learning Centres bridges urban-rural gap through affordable, quality pre-schooling for kids.
Market cap of government companies has remained unchanged in the past 8 years.
The rapid growth of India and China will overshadow the development of their Asian neighbours in coming years, with the purchasing power of their populations increasing to almost match consumers in the US and EU combined, a senior Doha Bank official has said.
India's per capita GDP of $5,238 in 2013 was 65 per cent lower than Iran, 54 per cent lower than Maldives, 44 per cent lower than Sri Lanka and 27 per cent lower than Bhutan, according to the Human Development Report 2015
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
After 2014, our growth has been average of around 5%. If this continues, we will remain here like Egypt, Brazil, South Africa and Bangladesh, points out Aakar Patel.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
"We are concerned about the data localisation law and the new e-commerce regulations...they do not fully take into account the needs of all stakeholders, including American and other foreign companies," acting principal deputy assistant secretary of the US, Thomas Vajda said.
ADB was urged to take up the Railways sector.
Due to major policy reforms announced recently by the government, India is poised for good growth.
As the euphoria around US President Barack Obama's visit ebbs, the fine print of the investment announcements reveal a financial boost for American solar energy companies to increase their exports to India.
India also fares poorly on maternal mortality rate.
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