In a bid to boost economic and trade ties with energy rich Central Asia, India has agreed to actively participate in building trans-Afghanistan road and rail links between Uzbekistan's Termez to Iran's Chahbahar Port in the Gulf.
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.
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.
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.
The project was announced by Prime Minister in September.
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.
To this end, India has recently committed USD 400 million in steel to construction of the railway connecting Chabahar and Zahedan, near Afghan border, the report said.
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.
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.
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.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
The crucial black box of the doomed AirAsia jet was on Sunday found in the Java Sea stuck under the debris from the plane's fuselage and will be retrieved on Monday as the major breakthrough in the search raised hopes of unravelling the mystery of the crash soon.
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.
China is emerging as a naval entity and India cannot turn a blind eye to this, says West Bengal governor and former National Security Advisor M K Narayanan
'This includes increasing restrictions on freedom of expression and the detention of human rights activists and journalists'
From Central Asia to Ireland, from UK to Saudi Arabia, the prime minister has seen it all in his second year of office.
'Historically, equities have consistently outperformed debt, gold, property, and other assets over a reasonable period.'
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.
Dharavi resident advocate Sandip Katake alleged the project would be the world's biggest land scam.
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.
As the ice-covered parts of the Arctic Ocean melt due to climate change, China has flagged its interest to take part in building 'Polar Silk Road', raising prospects for the emergence of a new sea route.
Standard Chartered Bank's aim of expanding its consumer banking business in South Asia was strengthened when it convinced Sanjeeb Chaudhuri to join the bank earlier in July.
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.
'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.'
The Asian Cricket Council (ACC) on Tuesday shifted the 50-over Asia Cup from India to United Arab Emirates as the Board of Control for Cricket in India could not procure permission from the central government to host Pakistan.
In many ways, the United States and India are fulfilling our own destinies now, as we cooperate even more closely together.
The diamond studded crown of India's Srishti Rana, who has been crowned Miss Asia Pacific World 2013 in Busan, South Korea, was seized for not paying customs, a senior customs official said.
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.
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.
United States Secretary of State John Kerry has held wide-ranging talks with visiting Foreign Secretary Sujatha Singh on key issues, including the regional situation with respect to Afghanistan, Pakistan and Bangladesh.
Iran on Tuesday said it has officially received documents, related to the Israeli diplomat attack case, from India two days ago.
'In Eastern Ladakh the Chinese attempted salami slicing.' 'Our response has been superb. Our military has responded magnificently.'
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.
The situation could worsen if weather predictions of more rain in the capital and upper catchment areas come true.
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.
Without naming India, S&P said it expects that in regions where inflation already exceeds targets, or which are vulnerable to capital flight, central banks will be forced to raise interest rates.
Hussain will become the special envoy to the Organization of the Islamic Conference, an intergovernmental group with 57 member countries from the Middle East, Africa, Central Asia, Caucasus, Balkans, Southeast Asia and South Asia.
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.
