Observing that the turmoil in global capital should come as a wake-up call for South Asia, which was the second-fastest growing region in the world in the aftermath of the global crisis, the World Bank said on Wednesday its recent performance has been less stellar, and it has been sustained by potentially volatile portfolio inflows.
A new World Bank-IMF Report says India has achieved significant levels of poverty reduction as a result of high GDP growth of about nine per cent, but regretted serious shortfalls in achieving other Millennium Development Goals (MDGs) like child nutrition and health. Entitled 'Global Monitoring Report 2008,' the report's theme was 'MDGs and the Environment: Agenda for inclusive and sustainable development.' South Asia nations may fall short of the MDGs, says the report.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
Prime Minister Manmohan Singh on Monday constituted a Cabinet committee to oversee reconstruction and rehabilitation in flood-ravaged Uttarakhand.
From the Sensex pack, Mahindra & Mahindra, UltraTech Cement, Power Grid, State Bank of India, ITC, Titan, Tata Motors and ICICI Bank were among the major winners. Tata Consultancy Services, Bajaj Finance, Tech Mahindra, Asian Paints and HDFC were among the major laggards.
Pakistan Prime Minister Nawaz Sharif on Monday approved in principle the financing plan of the much-delayed 4500 megawatt Diamer-Basha Dam project on the Indus river in Pakistan-occupied Kashmir and asked officials to expediate its construction.
The country's economic growth hit a decade low of 5 per cent in the last fiscal on account of poor performance in the farm, manufacturing and mining sectors.
Vice Chancellor of Jamia Milia university and a seasoned bureaucrat Najeeb Jung was on Monday appointed as the new Lt Governor of Delhi while former Delhi Police Commissioner K K Paul was made Governor of Meghalaya.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
ADB projected China's growth to decelerate from 7.4 per cent
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
Projecting economic recovery, ADB on Wednesday said India is likely to record 4.7 per cent growth in current fiscal which will improve to 5.7 per cent next year.
'In Eastern Ladakh the Chinese attempted salami slicing.' 'Our response has been superb. Our military has responded magnificently.'
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.
Sheikh, who is very optimistic of the industry sailing though this tough phase, thanked Mohit Arora, the owner of Supertech, who has been sponsoring him since 2017.
Fitch reaffirmed India's rating at 'BBB-' with a Stable Outlook saying the rating balances a still strong medium-term growth outlook compared with similar category peers and relative external resilience stemming from solid foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors, including governance indicators and GDP per capita.
BRICS countries, including India, on Thursday voiced concern over the "fragile recovery" of global growth and the potential spillover effects from the "unconventional monetary policies" of the developed countries.
'India is an equity market with a breadth and depth of companies to invest in.'
Offshore rupee debt was likely to attract good demand
The protesting wrestlers refrained from immersing their medals in the river Ganges after being convinced by Khap and farmer leaders who sought five days to address their grievances.
Rajiv Kumar will continue as vice-chairman of the body, along with other full-time members V K Saraswat, Ramesh Chand and V K Paul.
The mandates which Pakistan has failed include action against all United Nations-designated terrorists like Jaish-e-Mohammed chief Azhar, Lashker-e-Tayiba founder Hafiz Saeed and the outfit's operational commander Zakiur Rehman Lakhvi.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
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.
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.
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.
The total market capitalisation of BSE-listed companies fell by Rs 1.36 lakh crore to Rs 93.33 lakh crore.
Officials said the World Bank, Japan International Cooperation Agency and Asian Development Bank had evinced interest in the project.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
'Indian equity valuations, although not very expensive, are not cheap either.'
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
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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.
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.
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.
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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.
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