The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
Iran can now unlock $4.2 billion of payments for its oil stuck with major clients including India, China, Japan and South Korea after it reached an interim deal with six world powers in November over its nuclear programme.
An escalation in the already simmering tensions between North and South Korea, China and Taiwan, and Russia and Ukraine could prove to be a bigger worry for the markets over the next few months rather than central bank policy action, said analysts. The markets, they said, are still not fully factoring in this possibility. "The conflict between Iran and Saudi Arabia is another geopolitical worry.
'If the majority falls short of expectations, it may prompt initial adjustments in investor sentiment.'
The central government and the Reserve Bank of India have devised a country-specific plan towards implementation of overseas trade in rupee, people aware of the matter said. To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country. "Small countries that are dollar-deficient have shown interest in doing trade in rupee.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join the grouping.
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
State Bank of India, the nation's largest lender, has stopped processing transactions of Russian entities that have been sanctioned by the West over Moscow's invasion of Ukraine, sources said. To effect this, SBI has issued a circular as it fears that any transaction with entities or sectors under sanction will invite sanction on it as well, sources said. No transactions involving entities, banks, ports or vessels appearing on a US, European Union or United Nations sanctions list would be processed irrespective of the currency of the transaction, they said. Payments due to such entities have to be processed by other mechanism rather than through the banking channel, sources added.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
The sanctions have a singular purpose, denying the world's largest state sponsor of terrorists the capacity to do things like they did this past couple weeks, attempted assassination campaign in the heart of Europe, said US Secretary of State Mike Pompeo.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
India has been eyeing deeper energy ties with Iran and has already lined up $20 billion as investment in oil and gas as well as in petrochemical and fertiliser sectors there.
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
If military power is all it would take to finish the menace of an awful terrorist organisation like Hamas, how come five Israeli wars in Gaza since 2003 have failed to do so? asks Shekhar Gupta.
The rupee has depreciated 10.5 per cent against the dollar this year, making it Asia's worst-performing currency.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
PM Modi and Rouhani inked nine pacts including a lease contract for a part of Chabahar port's operation for 18 months.
The Indian side expressed readiness to provide extensive humanitarian assistance to Afghanistan, Mujahid was quoted as saying by Afghanistan's Tolo News.
During a short halt at Tabriz airport in Iran on his way back home, Mukherjee gave Vrishti Beniwali a brief account of the summit, euro zone crisis and what it meant for India.
Exporters are readying back-up routes to send their shipments to the nations belonging to the Commonwealth of Independent States (CIS), including Russia, as the war in Ukraine continues to intensify. Three routes are being explored. The first is the China route using Qingdao port. The second is the International North-South Transport Corridor (INSTC) route that connects Mumbai to Moscow via Iran and Azerbaijan.
Scanty rain would have put extra pressure on food prices.
Establishments from Hong Kong and Macau will require prior approval of the Reserve Bank to set up business or related activities in India.
It hovered in a range of 63.57 and 63.70.
The concessional swap windows have attracted about $25 billion, RBI deputy governor HR Khan said on Monday.
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
'Rawalpindi must downsize its quest for 'strategic depth' in Afghanistan and Kashmir,' suggests Matein Khalid.
The Shanghai Cooperation Organisation (SCO) will hold its first in-person summit in Samarkand in Uzbekistan on Thursday after two years, shaking off Covid fears and providing a rare opportunity for all its eight heads of state to meet on the sidelines of the event to have face-to-face talks on pressing global and regional issues of common concern.
The RBI has made serious attempts to improve fiscal deficit.
According to Soumya Kanti Ghosh, chief economic advisor of the State Bank of India group, a 50 bps rate cut is a possibility, but 25 bps is more likely.
Can we find fault with RBI for not intervening enough in the market? Actually no, say some experts. A correction in rupee was long overdue.
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
Lower crude oil prices would impact India's inflation, CAD.
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
The Taliban knows that Washington holds the key, points out Ambassador M K Bhadrakumar.
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
Russia and China are tight-fisted and Iran is broke and none of them has the political will or capacity to bankroll the Afghan economy, which only the US can, points out Ambassador M K Bhadrakumar.
Plenty of other factors are likely to keep a lid on prices.
There have been at least 1,641 cases of the virus in the Gulf region. Dubai has postponed its March boat show until November and Abu Dhabi postponed the ITU World Triathlon event this month, after earlier cancelling a cycling event in which two riders were diagnosed with the virus.
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