Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
The US drone strike that killed Ayman al-Zawahiri has raised questions over Pakistan's possible role in the raid amid reports suggesting that the country's airspace could have been used for carrying out the precision strike on the Al Qaeda chief's safe house in Kabul.
One thing is certain: The part-Goan, part-Malayali group CEO of Air Asia is not your usual boardroom CEO, and he cultivates the maverick businessman image, buying race car teams and football clubs and taking off-beat bets with his mentor and now buddy Richard Branson of Virgin.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
The mega solar power project is comprised of three solar generating units of 250 MW each located on a 500-hectare plot of land situated inside a solar park.
Meanwhile, Israel has expressed its "deep disappointment" with China's response to the war.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
'You will really wish oh! Had I stayed in Dharavi I would have got a nice house. I can assure you that. We will make dreams come true.'
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Indian equity markets had a good run in the first half of calendar year 2023 (CY23), with the S&P BSE Sensex and the National Stock Exchange Nifty50 hitting fresh 52-week highs. While the Sensex scaled up to a peak 64,718, the Nifty50 hit Mt 19,189. As the markets now prepare to enter the second half (H2) of CY23, all eyes are on global central banks, especially the US Federal Reserve, as to when they will pause and pivot as regards their interest-rate cycle.
'In Eastern Ladakh the Chinese attempted salami slicing.' 'Our response has been superb. Our military has responded magnificently.'
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
'Historically, equities have consistently outperformed debt, gold, property, and other assets over a reasonable period.'
BCCI puts Asia Cup in Pakistan on Indian team's roster for 2023
Fundraising via initial public offers (IPOs) dropped 52.2 per cent to $147.2 billion in the first eight months of calendar year 2023 (CY23), suggests a recent report by GlobalData, a London-based analytics and consulting company. At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion during this period, primarily due to a higher number of SME IPOs, followed by the US with 99 deals totaling $16 billion, while China ranked third with 88 transactions worth $32.3 billion. "An analysis of GlobalData's Deals Database reveals that there were 750 IPO listings registered with an aggregate deal value of $147.2 billion in the first eight months of 2023 on the stock exchanges worldwide.
India is expected to contribute 15 per cent to the global growth in 2023, an International Monetary Fund (IMF) official said on Tuesday. "Both India and China are expected to contribute 50 per cent of the global growth in the upcoming year (2023). "However, the share of India's contribution to global growth is expected to be around 15 per cent," Krishna Srinivasan, director, Asia and Pacific Department (APD) at IMF said at a roundtable with reporters from south Asian countries.
Energy-hungry India is scouting for oil and gas assets in Central Asia, Africa and Latin America to feed the requirements of its rapidly expanding economy.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Close on the heels of initiating a dialogue with Iran and Myanmar on importing gas through onland pipelines, Petroleum Minister Mani Shankar Aiyar will soon visit Turkmenistan and Afghanistan to explore the possibility of bringing natural gas from Ce
Dharavi resident advocate Sandip Katake alleged the project would be the world's biggest land scam.
'India needs to be cautious that its differences with Pakistan do not obstruct SCO's functioning,' says Sana Hashmi.
A study by an international team of researchers had warned two year ago that the South Lhonak lake in Sikkim may burst in the future and significantly impact the downstream region.
Wholesale price inflation remained in the negative territory for the fourth month in a row in July at (-)1.36 per cent, even though prices of food items, especially vegetables, skyrocketed. The inflation, however, has inched up from (-)4.12 per cent recorded in June fuelled by 62.12 per cent rise in vegetable prices. In July last year, wholesale price index (WPI) was 14.07 per cent.
Pakistan Prime Minister Shehbaz Sharif will take the USD 60 billion China-Pakistan Economic Corridor forward with new vigour, vitality and in a rejuvenated manner, ensuring the multifaceted development of the flagship project of China's ambitious Belt and Road Initiative, a top leader of the ruling PML-N has said.
IS-Khorasan was sanctioned for its links with Al Qaeda and involvement in several deadly attacks in Afghanistan and Pakistan that killed over 150 people.
India's full membership of the grouping would extend its reach to the Central Asian region in whose peace and stability it is a major stakeholder, says Sana Hashmi.
The satellite will enable a full range of services to neighbours including the areas of telecommunication, television, direct-to-home, VSATs, tele-education and tele-medicine.
PCB supremo Zaka Ashraf in his desperate bid to do damage control after indirectly terming India "enemy nation", hailed the warm reception that was accorded to the Pakistani team.
Jaishankar, who arrived in Santo Domingo on his first official visit to the Dominican Republic, also said that India has seen a dramatic expansion in connectivity, contacts, and cooperation across the region.
Year by year, our cities remain defeated in the face of weather conditions, costing us time, money, resources and often lives, observe Amit Kapoor and Bibek Debroy.
The need for an inclusive government in Kabul and a zero-tolerance stance on the use of Afghan territory by terrorist groups are among four aspects that Prime Minister Narendra Modi listed on Wednesday for countries in the region to focus on in the backdrop of the developments in the war-torn nation.
Besides vice president N A Harris, treasurer Ajay Kipa, all other newly elected executive committee members, and the six eminent footballers co-opted in the committee, except Bhutia, were present in the meeting.
The stock exchange on which they are traded boasts higher profits than most of the companies whose shares are hitting new highs. Only 37 of approximately 2,000 listed companies with comparable data for 2022-23 (FY23) reported higher profits, while the rest had lower profits. Despite rising corporate profitability, the universe of companies that outperform the National Stock Exchange (NSE) in terms of profitability has been shrinking of late, according to an analysis of companies with comparable data over the past seven years.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
The situation could worsen if weather predictions of more rain in the capital and upper catchment areas come true.
Equity benchmarks Sensex and Nifty declined nearly 1 per cent on Friday, in tandem with a weak trend in overseas markets amid hawkish tone of global central banks. The 30-share BSE Sensex fell 461.22 points or 0.75 per cent to settle at 61,337.81. During the day, it tumbled 506.5 points or 0.81 per cent to 61,292.53.
State health minister Veena George said a meeting was held between the principal secretary of the health department and the Union health ministry earlier in the day and now the monoclonal antibody has arrived.
The NRSC satellite imagery revealed that the lake covered approximately 162.7 hectares. Its area increased to 167.4 hectares on September 28 but drastically reduced to 60.3 hectares.
'Customers will end up pre-buying laptops, even at inflated rates. The same is true for second-hand and refurbished pieces that a company's authorised stores sell.'
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