The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
Petrol and diesel prices, which have been on a freeze for the past four months in view of assembly elections in states like Uttar Pradesh, need to be increased by over Rs 12 per litre by March 16 for fuel retailers to break even. International crude oil prices shot above $120 a barrel for the first time in nine years on Thursday before retreating a little to $111 on Friday, but the gulf between cost and retail rates has only widened. With international oil prices - on which domestic fuel retails are directly benchmarked - spiking in the last two months, state-owned fuel retailers "need a massive price hike of Rs 12.1 per litre on or before March 16, 2022, just to breakeven and a price hike of Rs 15.1 is required" after including margins for oil firms, ICICI Securities said in a report.
Images from the Women's European Football Championship matches in England on Saturday.
Wani is a part of the six-member Indian delegation at the Winter Olympics where Jammu and Kashmir skier Arif Khan is the only athlete from the country to have qualified this time.
The unalloyed truth about the Ukraine-Russia conflict is that it is a war that Russia cannot lose and Ukraine cannot win, observes Colonel Anil Athale (retd).
'When the gold price rises rapidly, India's physical gold market remains on standby.'
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
We have already suffered considerable collateral damage as a result of the war, and its continuance will continue to dampen our prospects for faster economic growth. We have a direct and legitimate interest in its early cessation, counsels former foreign secretary Shyam Saran.
Regulations in Milan, which is in one of Italy's Yellow Zones, include a curfew between 2200 and 0500 with breaches resulting in fines.
The Reserve Bank of India (RBI) on Wednesday announced to increase the policy repo rate by 50 basis points to 4.9 per cent, the second hike in five weeks aimed at quelling the inflation. The MPC vote was unanimous and has decided to keep stance withdrawal from accommodative, RBI Governor Shaktikanta Das said in a press conference on Wednesday. The decision was taken during a three-day meeting of the RBI's Monetary Policy Committee (MPC) to review the interest rates in the country. The MPC voted unanimously to increase the policy repo rate by 50 bps to 4.90 per cent," Das said.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
More than 16,000 cases have now been reported from 75 countries and there had been five deaths so far as a result of the outbreak.
Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses accumulated from keeping rates steady for over four months in the run-up to assembly elections in five states, including UP, despite international oil prices jumping to a 13-year high of $140 per barrel. West Texas Intermediate crude futures, the US oil benchmark, rose to $130.50 per barrel on Sunday evening, its highest since July 2008, before retreating. The international benchmark, Brent crude, hit a high of $139.13 at one point overnight, also its highest since July 2008.
Assistant Secretary of State for South and Central Asia, Donald Lu, was speaking to members of the Senate Foreign Relations Committee, just after India had abstained from a vote on the United Nations General Assembly resolution.
Wang said that the situation in Ukraine has changed rapidly and that China laments the outbreak of the conflict between Ukraine and Russia and is 'extremely concerned' with the harm to civilians, China's state-run Xinhua news agency reported.
The apex court said people value their privacy more than the value of the company which might be in trillions.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.
EU special representative for human rights Eamon Gilmore said on Friday that in his meetings with the Indian government he has discussed issues such as the use of sedition and anti-terrorism laws, condition of minorities, communal violence and the situation in Jammu and Kashmir.
India's projected economic growth for 2022 has been downgraded by over two per cent to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday. The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6 per cent from 3.6 per cent due to shocks from the Ukraine war and changes in macroeconomic policies that put developing countries particularly at risk. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.
From Covid to climate change, Shankar Acharya's look at some of the trends and events that might shape 2022.
IMAGES from the EPL matches played on Wednesday.
'The Ruble is now down 50 per cent and worth less than one American penny since Putin announced his war'
It's the first time in my memory that I have seen a negative expected return for equities, notes Akash Prakash. Hopefully, this implies the consensus is being too negative, and markets, as usual, will surprise everyone and deliver the least likely outcome.
'We have relatively strong growth and a healthy corporate earnings cycle as positives, but a worrisome current account deficit and high inflation as challenges.'
Blame the voter, who invariably chooses the promise of hand-outs today in preference to a vague promise of, say, better schools tomorrow. Getting the Supreme Court to issue an edict, or Parliament to pass a law, is no solution, observes T N Ninan.
Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI), has never minced words while talking about the giant technology companies, referring to them on multiple occasions as "centres for entrenched and unchecked dominance". The anti-trust regulator has, in fact, been cracking down on big technology companies such as Google, Apple, Facebook, and others, after they were hauled up by regulators and lawmakers in Europe and Australia. However, in several instances, existing regulations have prevented the CCI from going all out against these companies for anti-competitive activities.
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.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
Former Pakistan prime minister Imran Khan reiterated his allegations of a foreign conspiracy behind his ouster and said he knew that the 'match was fixed' when a no-confidence motion was moved against him.
'All Shatabdis and Rajdhanis should be converted to this type of high-speed train.' 'There should be a sleeper version of the train.' 'Right now, there is only a day version of the train.' 'Unless you develop a sleeper version, it will not be possible to replace the Rajdhani.' 'Work on the sleeper version was stopped for some reason. It should be revived now.'
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
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.
World over, pluralism is in retreat. Luckily for us, Indian pluralism and its consequent tolerance of diversity is rooted in our basic values. As long as we remain faithful to these values and keep our institutions in good health, the Indian miracle of last 75 years is likely to last centuries, asserts Colonel Anil A Athale (retd).
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
Parvez, a resident of the downtown area in Khanyar, was 21 when he was rescued from Ankara, after his parents claimed he had been misguided by some people to join the terror ranks.
Under the new norms, passengers coming from 12 'at risk' countries/regions undergo an RT-PCR test and wait for result at the airport before leaving or taking a connecting flight
The Modi government has to embrace the history of Tamil conquests in South East Asia and stop obsessing about Babar/Humayun, argues Colonel Anil A Athale (retd).
Monkeypox is a rare zoonotic disease that is caused by infection with monkeypox virus. Monkeypox virus belongs to the family Poxviridae, which also includes the viruses causing smallpox and cowpox disease
Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.
