Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
Even when large businesses said they were flying blind in mid-2020, the markets rallied and an incredible business boom followed. This is not to say that the markets will continue to rally and there is nothing to worry about, observes Debashis Basu.
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
Stating that India's economic stimulus was not adequate, Banerjee said, the measures did not increase consumption spending of lower income people as the government was not willing to put money in the hands of the low income population.
The decision to not attend the forum attended by 28 heads of state and 130 national delegations is a clear break from its usual policy of going along with the crowd.
Fugitive Diamantaire Mehul Choksi who is held in Dominica after his mysterious disappearance from Antigua and Barbuda has alleged that his "friend" Barbara Jabarica was instrumental in his abduction which involved musclemen claiming to be Antiguan Police and mercenaries looking like Indians. The police have started the investigation after receiving a complaint from Choksi, Antigua Prime Minister Gaston Browne said.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
The struggling steelmaker said the sale includes several South Yorkshire-based assets, including electric arc steelworks and bar mill at Rotherham, steel-purifying facility in Stocksbridge and a mill in Brinsworth.
Citizens are encouraged to deposit jewellery, bars or coins with banks so it can be refined to meet fresh demand and cut the need for imports
West Bengal Chief Minister Mamata Banerjee on Saturday tore into Narendra Modi government, accusing it of bulldozing the federal structure and running a Presidential form of government, drawing sharp reaction from the Bharatiya Janata Party.
...but are we chasing yesterday's dreams, asks Ajit Balakrishnan.
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.
One indictment accuses Huawei of trying to steal trade secrets from T-Mobile, and of promising bonuses to employees who collected confidential information on competitors. A second indictment claims the company worked to skirt US sanctions on Iran.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
The anti-terror watchdog has decided to give respite of four months to Pakistan to help her implement remaining recommendations of the task force.
Despite returns from gold down over 5% in the past three months, it is a good idea to keep this asset class in your portfolio.
For the past five months, ever since he was appointed the Ayushman CEO, Indu Bhushan, a former bureaucrat, has made Nirman Bhawan his second home, working nine to nine with his "dedicated team" on the Modi government's biggest initiative after the Goods and Services Tax, says Nivedita Mookerji.
The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
Once the darling of consumers, the April-June sales figure for Apple is a historic low. This has coincided with Chinese player OnePlus taking top spot in premium smartphones with a share of 40 per cent and Samsung slipping to second position at 34 per cent in April-June.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
Hit hard by volatility in yarn prices, 50% of the looms said to be operating only 3-4 days a week.
'Prevention plus vaccination is what is going to take us into better territory by September or October.'
Khan said Islamabad has taken the first step on a new path to peace and progress.
'Today, we being the majority pass a law and if the Opposition parties do not like it, they throw files at the Chair, and beat up women marshals.'
Shah said the revocation of the special status has paved the way for development in Jammu and Kashmir and it will be a "final nail in the coffin of terrorism".
'The package will help in realising the true potential of employment generation in the textile and apparel sector.'
"The Congress believes in the politics of appeasement and dynasty, whereas BJP follows politics of performance," Shah said.
'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
The minister, in an eight-page open letter to farmers, said the Modi-government was committed to their welfare and stressed that the new legislations were aimed at benefitting small and marginal farmers.
The youth of the country feel they are not getting opportunity to work for the nation, Rahul said.
'There were tears in my eyes when I parted with my medals. I thought was it for this moment did I become a soldier?' In 2008, Captain H Balakrishnan (retd) of the Indian Navy returned all his medals to the President of India to protest the government's failure to implement the One Rank One Pension scheme.
He made a reference to the clash between Indian and Chinese troops in Ladakh's Galwan Valley in June this year. "What our jawans can do, what the country can do, the world has seen in Ladakh," he said.
The Wuhan meetings signify an incremental shift in China's position on India as well as each country buying time for the next phase of bilateral relations, says Srikanth Kondapalli.
After six weeks into the second half, the faltering offline channel, which traditionally rakes in 60 per cent of sales for the market, has become the biggest hurdle towards the path of revival.
National artificial intelligence unit stuck for lack of anchor department
Till recently, iPhone production in India was limited to older models at a lower price tag. So far, Apple has localised production of five smartphone models - iPhone SE (1st Gen), 6S, 7, XR and 11.
An unexpected devaluation of yuan saw it plunge the most in 20 years.
A summary of sports events and persons who made news on Thursday
Foreign brokerage Bank of America Merrill Lynch said they expect the headline inflation to rise to 3.3 per cent in May, but added that it is within the 2-6 per cent range which the government has set for the RBI.
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