Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
'We have to be prepared on the borders to withstand Chinese expansionist designs.'
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
Indian policymakers are almost alone, alongside the United States, in seeking a hard and multi-sectoral global decoupling from China in the expectation that it will boost their economies, observes Mihir S Sharma.
India and China on Monday held a fresh round of military talks with a focus on disengagement of troops in the remaining friction points in eastern Ladakh and ease overall tensions in the region.
Bank of Kunlun was placed under sanctions yesterday for transactions with Iran.
Arunachal Pradesh Chief Minister Pema Khandu on Wednesday expressed concern over China's proposed mega hydropower project on the upstream of Siang River in Tibet, stating it will have a cascading effect on India and Bangladesh in the near future.
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.
A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts. Equity markets would remain closed on Friday for Guru Nanak Jayanti. "India is set to release CPI and IIP data on November 12, with WPI data expected on November 14.
India on Monday pressed for early disengagement of troops in remaining friction points in eastern Ladakh during a fresh round of high-level military talks with China, people familiar with the matter said.
The 16th Brics Summit beginning Tuesday in Kazan, Russia, is expected to see more focus on creating a sharper energy policy for Brics that ensures closer partnership among members in both energy security and energy transition, official sources said. The same is expected to be a part of the Kazan declaration, currently being negotiated, they added.
The US Fed interest rate decision, ongoing quarterly earnings, macroeconomic data and FII trading activity are the major triggers that will drive stock markets this week, analysts said. Investors would also track global market trends and the movement in global oil prices for further cues. "This week, the focus will shift to global cues, particularly the US markets," Santosh Meena, Head of Research, Swastika Investmart Ltd said.
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
Chinese Foreign Minister Qin Gang reiterated that the situation at the India-China border is generally stable and both sides should consolidate the present achievements and strictly abide by the relevant agreements while pushing for further cooling and easing of the conditions for sustainable peace and tranquillity at the frontier.
The Indian market remains an attractive place to do business for the nation's entrepreneurs, with 75 per cent of them operating domestically.
Growth in India is expected to slow to 6.3 per cent in FY 2023/24 (April-March), a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. The World Bank made these points in its latest edition of Global Economic Prospects according to which global growth is projected to decelerate from 3.1 per cent in 2022 to 2.1 per cent in 2023. In Emerging Markets and Developing Economies (EMDEs) other than China, growth is set to slow to 2.9 per cent this year from 4.1 per cent last year. These forecasts reflect broad-based downgrades.
China's e-commerce giant Alibaba, which completed the world's largest initial public offering ever this month, has won approval from authorities in Beijing to establish a private bank as it diversify into financial services.
From the 30 Sensex pack, Hindustan Unilever fell by nearly 6 per cent after the FMCG major reported a 2.33 per cent decline in consolidated net profit at Rs 2,595 crore for the second quarter ended in September 2024 impacted by moderation in demand from the urban market.
With a loan book of $268 billion, India's retail banking is now ahead of Russia, Malaysia and Mexico but behind China, Brazil and Thailand
India is set to press for early disengagement of troops from the remaining friction points in eastern Ladakh at a fresh round of high-level military talks with China on August 14, people familiar with the matter said on Saturday.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
ICICI Bank on Sunday said there is also enough space for Chinese banks to play a complementing role in the India.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
India and China held two days of military talks in an "open and constructive manner" for an early and mutually acceptable resolution of the remaining issues along the Line of Actual Control in eastern Ladakh and agreed to maintain peace on the ground.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
Stating some consolidation in the banking system was inevitable, Finance Minister P Chidambaram on Saturday said India must have two or three world size banks.
Police in Guiyang, capital of southwest China's Guizhou Province, arrested Song Chenglin from northeast China's Harbin city.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
Disengagement from the LAC will remain a chimera because China has given enough indications that the PLA will not move back any more. China has even deployed drones to monitor and deny any patrolling by Indian troops even in the buffer zones which are all in Indian Territory, explains Lieutenant General Prakash Katoch (retd).
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
President Mohamed Muizzu, known for his pro-China stance, has thanked India for enabling the resumption of medical evacuation services with civilian aviation personnel from India.
A top management leadership team from SoftBank has been coming to India in the last few days to meet the founders of start-ups and other investors, signalling the country's emergence as a pivotal market for the global investment giant. Based on current estimates, India accounts for nearly 10 per cent ($20 billion) of SoftBank's invested assets under management (AUM) globally. That makes the country its third largest market after the US and China.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
