It is important the SCO focus strongly on economic development and regional integration that leads to greater benefits for the least developed regions of member-countries, writes Sana Hashmi.
Equity indices made an emphatic comeback on Friday after falling for seven straight sessions after the RBI hiked interest rates by 50 basis points on expected lines and projected inflation coming under control from January next year. A strong recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex soared 1,016.96 points or 1.80 per cent to settle at 57,426.92. During the day, it rallied 1,312.67 points or 2.32 per cent to 57,722.63.
A 12-member Indian judo team was forced to withdraw from the ongoing Asia-Oceania Olympic qualifiers in Bishkek, Kyrgyzstan after two judokas -- Ajay Yadav and Ritu -- tested positive for COVID-19 just before the start of the tournament.
If somebody wants to do an instant noodle study on contemporary Indian politics, Shobhaji's book, Battlefield India - 25 years of Politricks and Economix, is the one to look into, applauds M R Venkatesh, the well-known economic and political commentator.
Equity indices overcame a wobbly start to clock gains for the third session on the trot on Tuesday, propped up by banking, metal and energy stocks amid a mixed trend in global markets. A recovery in the rupee also bolstered sentiment, traders said. The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day.
In the face of the Left opposition, the Bush administration has refused to set a timeline for moving the Indo-US nuclear deal forward, saying it will start work towards operationalising the agreement when New Delhi is ready.
The victory kept alive the Central Asians' hopes of making the final in the Nehru Cup football tournament.
The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation (ONGC), is getting ready to bid for an oil field in Azerbaijan.
Srinagar-based Jammu and Kashmir Bank is keen to cross borders to set up branches in Pakistan Occupied Kashmir, Pakistan and Central Asian countries.
CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been put on wait-and-watch mode for more clarity on global oil prices. CNG price in NCT of Delhi has been increased to Rs 57.51 per kg from Rs 56.51, according to the information posted on the website of Indraprastha Gas Ltd - the firm which retails CNG and piped cooking gas in the national capital. Following the firming up of international gas rates, IGL has been raising CNG rates by up to 50 paise (Rs 0.50) per kg periodically. Prices have gone up by about Rs 4 per kg this year alone.
With its political colour dominated by less than democratic trends, BRICS currently leaves some of us wondering -- where in this grouping is there an assurance that human freedom will be respected unconditionally? It would be nice to see the new members of BRICS drawn from the ranks of countries wedded to preserving and guarding human freedom, observes Shyam G Menon.
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
Stock selection in India remain relatively low-beta given the lack of any conviction here on any near-term upturn in the investment cycle
HDFC twins were the top losers in the Sensex pack, shedding over 4 per cent, followed by ICICI Bank, Kotak Bank, Asian Paints, M&M, HUL, TCS and Maruti. NSE Nifty tanked 263.80 points to 14,631.10.
The Director of the Peradeniya Hospital in the central district of Kandy on Monday announced the temporary suspension of all routine surgeries due to the shortage of medicine.
It is the first visit to India by a senior minister of a member nation of the Organisation of Islamic Cooperation after the controversial remarks triggered anguish in the Arab world.
Statements of Assistant Secretary of State For South and Central Asian Affairs Richard A Boucher, Congressmen Tom Lantos and Gary Ackerman on F-16 sale to Pak.
The Asian Football Confederation (AFC) said it welcomed consultations world governing body FIFA's plan to conduct a feasibility study into staging the World Cup every two years instead of every four.
A federal counter intelligence probe against former top American diplomat Robin Raphel, who also lobbied for Pakistan post retirement, would not impact America's ties with South Asian countries, a US official has said.
Washington wants to extend the newly built Kabul-Kandahar highway.
China on Monday expressed the hope that the Taliban will stand by its commitment of establishing an "open and inclusive" Islamic government in Afghanistan and will ensure a peaceful transition of power without violence and terrorism.
Market benchmarks gave up intra-day gains to close in the red for the sixth session on the trot on Friday, capping a bruising week which saw a massive dash for safety amid rate hikes by global central banks and fears of slowing growth.
The fire broke out in the five-storey dormitory of the People's Friendship University.
HCL Tech was the top gainer in the Sensex pack, rising over 2 per cent, followed by Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto and M&M. On the other hand, IndusInd Bank, Kotak Bank Bank, Power Grid, Sun Pharma and Asian Paints were among the laggards.
India's plans to make a counter-offer for PetroKazakhstan might be riddled with impediments, as the Central Asian oil firm would have to shell out $125 million in penalty if it rejects the $4.18-billion offer by China's CNPC.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
S&P Global Ratings on Wednesday cut India's growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict. In its Global Macro Update to Growth Forecasts, S&P said inflation remaining higher for long is a worry, which requires central banks to raise rates more than what is currently priced in, risking a harder landing, including a larger hit to output and employment. S&P had in December last year pegged India's GDP growth in the 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent.
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