Nobel laureate Muhammad Yunus enjoys great respect in the US for all of his work to help the poor in Bangladesh.
... And what explains the directions of change? asks Ajit Balakrishnan.
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
'We are in very tough times, but we are all absolutely committed to seeing the destruction of Hamas'
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
The bank remains on high alert to intervene if markets freeze.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
United States President Joe Biden on Wednesday said that based on what he saw, it appears that the deadly explosion at the Gaza hospital was done by 'the other team' and not the Israeli military, accepting the Israeli version of the story pinning the blame for the blast on the Palestinian militant group Islamic Jihad.
The Pandays aka The Travelling Family are making a trip around the world. Three days spent in the Amazon were unforgettable.
Aditi Ashok has risen to 15th on the LPGA's Race to CME Globe and could well go better than career-best 48th in world rankings.
Private banks are assumed to be more efficient at intermediating between depositors and investors.
Booming manufacturing and services sector is likely to push up India's GDP growth to 7.7 per cent in 2006-07, but inflationary pressure may lead to hike in interest rates
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs International, JP Morgan Securities, Morgan Stanley, Nomura and UBS have confirmed their commitment to the FSA Rule and the supporting Code on remuneration practices. These were published in August and would come into force on January 1, 2010 (and cover payments for performance year 2009).
India witnessed a 12 per cent year-on-year (YoY) jump in total household wealth last year, at $14,225 billion, according to the Global Wealth Report 2022 by Credit Suisse. The report also forecasts the number of millionaires in the country to more than double from 796,000 in 2021 to 1.6 million in 2026. According to the report, which is based on data for the wealth holdings of 5.3 billion adults across nearly 200 countries, global household wealth rose 9.8 per cent in 2021 to $463.6 trillion, driven by widespread gains in share prices and a favourable environment created by central bank policies in 2020 to lower interest rates but at the cost of inflationary pressure.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
If military power is all it would take to finish the menace of an awful terrorist organisation like Hamas, how come five Israeli wars in Gaza since 2003 have failed to do so? asks Shekhar Gupta.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
The CBI has registered 11 cases against cyber criminals involved in financial fraud using the internet and the agency conducted searches at 87 locations while 28 locations were raided by the state police forces, they said.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
Sundararaman Ramamurthy has been an interesting choice for the publicly-listed BSE, which has seen its chief move to bigger rival -- the National Stock Exchange (NSE) -- in July. Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others in the country. Just like NSE's core team, which includes its founder RH Patil, the 59-year-old Ramamurthy has worked at the Industrial Development Bank of India (IDBI) before moving to NSE in 1995.
"Throughout our history we've learned this lesson -- when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden said addressing the joint session of the Congress in his first State of the Union.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
Goldman Sachs, Morgan Stanley and JPMorgan, the three bulge-bracket banking groups of the US, are likely to get active in Indian real estate after a long gap, according to executives with property funds and consultancies.
There are concerns that his arrest and arraignment could bring with it a repeat of the kind of violence and protest seen during the January 6, 2021 attack on the US Capitol building by pro-Trump rioters in the aftermath of the 2020 presidential election that Trump lost to Joe Biden.
The maximum number of banks are from the US (74), followed by China (29) and South Korea (26).
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
As far as US growth is concerned, he says that the first half of next year is expected to be better than the second half of this year.\n\n
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
'Israel has received an extremely hard and rude reminder that it cannot go ahead and talk of normalisation of relations with other Arab countries without addressing the issues pertaining to Palestine.'
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
A recession is unlikely in the APAC region in the coming year, although the area will face headwinds from higher interest rates and slower global trade growth, Moody's Analytics said on Thursday. In its analysis titled 'APAC Outlook: A Coming Downshift', Moody's said India is headed for slower growth next year more in line with its long-term potential. On the upside, inward investment and productivity gains in technology as well as in agriculture could accelerate growth.
Investors have scaled back their allocation to equities as pessimism has reached "dire" levels due to cloudy economic outlook, according to the latest Bank of America (BofA) monthly global fund manager survey that covered nearly 300 money managers with combined assets of $800 billion. The survey showed that the expectations for global growth and profits are at all-time lows and cash levels are at highest since the 9/11 attacks. Interest rate hikes by central banks, the unwinding of an easy monetary regime, disruptions in global supply chains, and fears of recession have heightened market volatility since the beginning of the year.
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
'We continue to believe that the global economy will narrowly avoid a recession, despite expecting the US, Canada, and most of Europe to fall into recession at some point over the next year or so.'
Though the US has got together a number of vetted and potential Indian business partners, most of these companies say they haven't had much luck in stitching up deals to tap into India as an export market for their goods.
IT major Tata Consultancy Services (TCS), in its Q4FY22 results, said the company's banking, finance services and insurance (BFSI) crossed the $10 billion milestone. This includes revenue from financial products, services and platforms. For Suresh Muthuswami, who recently took over as Chairman of North America, one of the focus will be to grow this percentage going ahead. The first step to grow the US market is hiring. Muthuswami said that the company will be hiring more in the US, especially from the campuses. In FY22 TCS hired over 7,000 people in the US and going ahead too the numbers will be similar.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
