The ruble has recouped most of its losses and become the top-performing currency globally. It continues to gain and is up 60 per cent against the US dollar from its lows in the first week of March. The ruble appreciated to 83 to the dollar intraday on Tuesday against a record low of 139 on March 7.
'This was Indian land the PLA advanced on and occupied.' 'The Chinese then 'negotiated' a pullback of their troops a small distance on Indian territory even as Indian jawans draw back further into India from the forward position.' 'An apparently satisfied Indian government says this is a great move for peace! How great is that for China!'
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
'For the common man, the economic conditions are not going to get better.'
Even as the Group of Seven (G7) price cap on Russian crude oil enters into force as of December 5, India has been assured it will continue to receive the existing deep discounts on Russian oil, for the time being, informed officials. "We have been assured by our Russian partners of uninterrupted crude supplies at the existing rates for the time being. "There were a lot of reports of changes in (India's) buying patterns after the global price cap took hold.
IIT Roorkee has so far seen the highest domestic salary rise Rs 80 lakh, up by a third from Rs 60 lakh last year.
By driving a hard bargain with Russia in procuring crude oil at the lowest price possible, India is furthering the policy of G7 and Washington is "comfortable" with New Delhi over its approach in addressing issues relating to energy security, a top Biden administration official said.
The Sensex has hit its lowest level since August 29, 2016 whereas the Nifty hit its lowest level since Sep 12, 2016
Prime Minister Narendra Modi on Tuesday gifted a Gond art painting, a specimen of Sanjhi art form and a wooden hand-carved box to his fellow Quad leaders from Australia, the US and Japan, sources said.
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery plant. Ola Electric needs 40 Gwh of battery capacity to power 10 million electric scooters annually. The remainder will be for its electric cars, which the company plans to manufacture in the future.
Following another disappointing year in 2014, developing countries should see an uptick in growth this year, boosted in part by soft oil prices, a stronger US economy, continued low global interest rates, and receding domestic headwinds in several large emerging markets, it added.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
As regards India, FIIs have pumped in over Rs 34,400 crore in the Indian stocks in calendar year 2021.
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
With the Japanese government taking a lead in funding the megapolis' many signature infrastructure projects, the World Bank has evinced interest in funding the proposed Charkop-Dahisar and Wadala-Teen Hath Naka Metro projects.
'People trust India and Indians a lot more than they trust China and the Chinese.'
IndusInd Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by Axis Bank, HDFC, ICICI Bank, HDFC Bank, Kotak Bank and SBI. On the other hand, ONGC, Tech Mahindra, NTPC, Sun Pharma and TCS were among the laggards.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
Shares of L&T Technology Services, an arm of engineering giant Larsen and Toubro, made a decent debut on the bourses
Arora was hired in July to run a newly created unit called SoftBank Internet and Media Inc.
Arora's appointment brings no real transfer of power, says Una Galani.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
PS banks need to pull up their socks to improve cash flows.
Jain was the architect of Deutsche's investment banking business and placed one of his former trading heads, Alan Cloete, in Hong Kong as co-CEO for Asia Pacific in 2012.
Asked about the campaign against the Games, Tokyo Governor Yuriko Koike said she would work towards a "safe and secure" Olympics.
The Asian Development Bank has approved a US$ 1.5 billion (around Rs 11,185 crore) loan to India for COVID-19 vaccine procurement.
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
Domestic market is losing its trend to rate sensitive stocks post the announcement of the new RBI governor who is likely to maintain a cautious stance on interest rate cut
Pawan Verma contended that PSU banks are influenced to give loans to the people who are not able to repay them.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
Japan's Asahi Shimbun, an official partner of the Tokyo 2020 Olympics, called for the Summer Games to be cancelled in an editorial
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
Atanu Biswas explains the economics behind hosting a Games in pandemic times.
Under Nikesh Arora's leadership, SoftBank has made several investments in India in a short span.
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
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