The once-delayed Games are due to start on July 23
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.
On the Sensex chart, UltraTech Cement, HCL Tech, HDFC, Tech Mahindra, HDFC Bank and HUL emerged as the major laggards -- falling as much as 4.7 per cent. NSE Nifty dropped 63.05 points to end at 14,296.40.
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 currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
India is looking to develop alternative export markets for tea such as Iraq, Saudi Arabia, the US, Japan and Tunisia in view of the Russian invasion of Ukraine, people aware of the matter said. Meetings are being held with buyers in some of these countries in virtual mode, with the help of diplomatic missions located there. Similar meetings for the remaining countries have also been planned.
'People trust India and Indians a lot more than they trust China and the Chinese.'
With their stadium devoid of fans due to coronavirus restrictions, Japanese baseball team Fukuoka SoftBank Hawks have come up with an imaginative replacement: dancing robots. Before their most recent Nippon Professional Baseball (NPB) game against Rakuten Eagles on Tuesday, over 20 robots danced to the team's fight song on a podium in the otherwise empty stand.
The year 2021 could turn out to be India's year of IPO with the domestic unicorns through their public issues setting "domestic stock markets on fire and global investors in a frenzy", an RBI article said on Tuesday. The successful Initial Public Offerings (IPOs) by new age companies in the recent months are a reflection of bullishness about Indian technology, it said. "...growth impulse is igniting financial markets. 2021 could well turn out to be India's year of the IPO.
Among other stocks, IT firm Mphasis today reported a 15.30% increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015.
Sensex climbs higher on favourable global cues.
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.
India's politicians need to do a better job of managing the economy: Inflation control, productivity improvement, etc, asserts T N Ninan.
Axis Bank was the top loser in the Sensex pack, dropping around 5 per cent, followed by Tech Mahindra, SBI, L&T, IndusInd Bank, Infosys and NTPC. On the other hand, HDFC Bank, HUL, Kotak Bank and Bharti Airtel were among the gainers.
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.
India is facing no risk of recession or stagflation as macroeconomic fundamentals of the economy are strong, Finance Minister Nirmala Sitharaman said on Monday. Replying to a debate on price rise in the Lok Sabha, she said the GST collection and Purchasing Managers' Index (PMI) are indicating that the Indian economy is getting more robust. The GST collection rose 28 per cent to touch the second-highest level of Rs 1.49 lakh crore in July. GST, introduced in July 2017, touched a record high of Rs 1.68 lakh crore in April 2022.
After opening on a weak note, the 30-share BSE index settled 226.79 points, or 0.55 per cent, higher at 41,613.19 -- hitting an intra-day high of 41,697.03 and a low of 41,275.60. Likewise, the broader NSE Nifty closed 67.90 points, or 0.56 per cent, up at 12,248.25.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 6 per cent, ahead of its earnings announcement. Axis Bank, Kotak Bank, ICICI Bank and Bajaj Finance too surged up to 5 per cent. On the other hand, NTPC, M&M, HDFC Bank, Bharti Airtel and ITC were the laggards.
"On the border issue, China always maintains that we should follow through on treaties and agreements we signed and we jointly uphold peace and tranquility at the border region," Foreign Ministry spokesman Wang Wenbin said while responding to Jaishankar's remarks.
China said it has suspended the project due to security concerns from a third party.
The deal did not include the FT Group's 50 per cent stake in The Economist magazine.
'It's such an honor to be a part of the Barbie Role Model series'
It was the second time in the last three days that India asserted that the relationship with China depends on the resolution of the pending issues in eastern Ladakh.
The markets have opened on a lacklustre note in the absence of major cues from the US markets that were closed on account of Independence Day holiday. The Sensex is down 15 points at 17,448. Nifty is flat at 5299.
The 30-share Sensex ended down 159 points at 27,425 and the 50-share Nifty closed down 24 points at 8,299.
Through her Ancestral Weaves collection she gave 'the wonderful Indian weavings a universal language' at Milan.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
Axis Bank was the top loser in the Sensex pack, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T. NSE Nifty nosedived 1,135.20 points or 12.98 per cent to settle at 7,610.25.
Markets across the world are increasingly turning volatile on concerns over the global economic impact of the coronavirus after China announced sharp increases in the number of people affected in the outbreak, analysts said.
