"The most successful governments in Afghanistan tend to be those who have the biggest tents, which would include all communities and therefore leave all communities satisfied after a point and do not create massive resentments. Now, this is not a government which I would imagine would successfully govern Afghanistan," Dalrymple, the historian said.
According to the global investment banking major, RBI will increasingly switch to supporting growth from exclusively fighting inflation.
The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognising bitcoin as legal tender. This is proving painful for many of its citizens but it's a useful "pilot" project for larger economies that are contemplating the peculiarities of this new asset class. El Salvador has a population of 6.5 million and GDP of about $27 billion.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
The insurance giant American International Group has replaced Goldman as its main corporate adviser with Citigroup and Bank of America, says a media report.
Quelling fears of a takeover by Ola, which is also funded by Uber's major investor SoftBank Group, the US-based cab aggregating giant made it clear that the company was not ceding its position in India, one of its core markets.
BofA-ML global fund manager study says investors 11% underweight on Indian stocks in November, down from about 5% in the previous month.
Sahara said it has initiated legal action against Mirach Capital.
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
'No amount of digression can hide deflect the fact that the PM's visit was badly conceived, planned and executed,' argues Ambassador M K Bhadrakumar.
Foreign Secretary Harsh Vardhan Shringla terms India's relationship with China as "complex".
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
Pompeo, who became the Trump administration's highest ranking official to visit Sri Lanka, said that the US and Sri Lanka shared a vision for democracy to build a relationship and the "freedom to hold democratic elections".
'This government is so fond of some corporate friends that they can always amend existing laws or make new laws.'
The bank (Williams & Glyn's), which was dormant for about 30 years, is being revived by UK-based lender the Royal Bank of Scotland Group Plc.
This would be fourth straight quarter decline in sales.
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
US President Trump and the First Lady held hands as they strolled at the Taj complex and later wrote in the visitors' book. They were also briefed about the history and importance of the monument.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
'When fund managers talk of being bullish for the long term, they assume strong economic growth.' 'That is what they have assumed every year, naively believing the pronouncements and promises of ministers.' 'Unfortunately, they have been wrong year after year,' observes Debashis Basu, editor, www.moneylife.in.
'You can't take money from Shaktikanta Das (the RBI governor) and give it to Nirmala Sitharaman (the Union finance minister). She will blow it away on Modi.'
Hillary Clinton on Friday became the first woman ever to accept a major US party's presidential nomination.
Banks in India are expected to cut lending rates by up to 50 basis points by September as there is sufficient liquidity in the system.
'I want to show that we are also part of this society and want to participate just as much, whether it is for security or whatever community work there.'
According to the global investment banking major, the RBI will continue to gradually shift its focus to reviving growth from exclusively fighting inflation since 2010 and is likely to cut rates in June by 25bp, and by 50bp in March 2014 quarter.
With America's fourth largest investment bank Lehman Brothers filing for bankruptcy protection and Merrill Lynch being bought over by the Bank of America, placements at the Indian Institutes of Management will be affected.
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
Growth remains weak, inflation is within 2-6% range, rate cut would help recoup forex reserves
Panaya drags Q1 profits though revenue improves on the back of large deal wins, good traction in North America.
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
The Western powers appear to regard Delhi as the most logical destination in the region in these extraordinary times -- as a counterpoint to the ascendance of political Islam and a rising red star over Afghanistan, observes Ambassador M K Bhadrakumar.
In addition to Pichai and Nadella, IBM's Arvind Krishna, Micron's Sanjay Mehrotra, Ajay Banga from Mastercard and Ann Mukherjee from Pernod are among the six Indian-Americans among over 200 corporate honchos who will advise the President and offer recommendations on how to revive the American economy.
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
Bank of America expects Reserve Bank to further step up liquidity restraint through accelerated government borrowings to avoid another rate hike during July monetary policy review.
