The recent depreciation of the rupee along with sharp fall in the country's foreign exchange (FX) reserves has sparked a debate whether stability of the exchange rate is necessary and desirable. The rupee was one of the least volatile currencies among peers for almost two years before the current downward pressure started in September after the US Federal Reserve lowered interest rate.
'Of the 20 trading days of January till January 28, FIIs have been selling for 19 trading days'. 'When did FIIs withdraw money with this kind of intensity?' 'It never happened. It's the first. It did not happen even during the 2008-2009 financial crisis when Lehman went under.' 'Even then you did not have like a 19-day selling spree from the FIIs.'
In the shadows of a sliding rupee, India's knitwear hub Tiruppur is weaving a success story. While the domestic currency edges closer to the 86 mark against the US dollar, triggering concerns for many sectors, this textile town in Tamil Nadu is finding opportunity in adversity: Between April and December alone, Tiruppur's exports reached Rs 26,000 crore, almost eclipsing last financial year's total of Rs 30,690 crore.
Kirsty Coventry smashed through the International Olympic Committee's glass ceiling to become the organisation's first female and first African president in its 130-year history.
Australia on Wednesday unveiled an ambitious roadmap to deepen and diversify its trade and investment ties with India. The roadmap identified four "superhighways of growth" -- clean energy, education and skills, agribusiness, and tourism. Broadly, it sets out a pathway to focus ongoing efforts, including to boost two-way investment, and work with Indian-Australian communities and businesses.
"... It's time to stop this madness. It's time to halt the killing. It's time to end the senseless war. If you want to end wars, you have to talk to both sides," Trump said.
Foreign investors continue to pull back money from the Indian equity market, withdrawing Rs 24,753 crore (about $2.8 billion) in the first week of March amid escalating global trade tensions and lacklustre corporate earnings.
As temperatures shoot up this month signalling an early onset of summer, sales of air conditioners (AC) are set to increase, with companies expected to hike the prices of ACs by 4-5 per cent due to component shortages. Leading players like Haier and Bluestar and suppliers like EPack Durables have raised their production capacities to meet the 25-30 per cent rise in demand expected in the coming months.
The order also pauses "hundreds of millions of dollars in aid through the Ukraine Security Assistance Initiative, which provides funds that Kyiv can use only to buy new military hardware directly from US defence companies."
On India, the chart showed that the country charged 52 per cent tariffs on the US "including currency manipulation and trade barriers," and America will now charge India "discounted reciprocal tariffs" of 26 per cent.
US President Donald Trump announced a 26 per cent "discounted reciprocal tariff" on India, half of the 52 per cent levies imposed by India on American goods, as he described India as "very, very tough."
"Their Prime Minister just visited -- he's a great friend -- but I told him, 'You're not treating us right. You charge us 52%, while for years, decades even, we've c'harged you next to nothing. It wasn't until seven years ago, when I took office, that we started pushing back, beginning with China.'"
Many travellers are now opting for domestic destinations like Goa, Kerala, Rajasthan, Lakshadweep, Himachal Pradesh, and the North East.
New investors should gradually build a 5 to 10 per cent allocation to gold.
The risk-reward for the Indian markets, Morgan Stanley said, is turning favourable.
Srinivas Bhogle and Purnendu Maji present Rediff's first Most Valuable Player Index for IPL 2025.
'Retail investors have to stick to their asset allocation plans and continuously do portfolio reviews.'
India's forex reserves dropped by $1.88 billion to $623.98 billion in the week ended January 17, the RBI said on Friday. Earlier, the overall kitty declined by $8.71 billion to $625.87 billion in the week ended January 10, the Reserve Bank of India said.
India and the United States have agreed to deepen their strategic partnership in several key areas, with President Donald Trump announcing plans to provide India with F-35 fighter jets and billions of dollars in military supplies. The two leaders also discussed energy cooperation, critical technologies, connectivity, and countering terrorism. They agreed to work together on the India-Middle East-Europe Economic Corridor, and Trump noted India's reforms to welcome US nuclear technologies. Prime Minister Modi said the two countries can shape a better world through their cooperation. Both leaders also addressed the Russia-Ukraine conflict, with Modi stressing India's commitment to peace.
Stock market participants would track global trends and foreign investors' trading activity in a holiday-shortened week ahead, amid lack of any major domestic trigger in sight, analysts said. Equity markets will remain closed on Wednesday for Christmas.
US President Donald Trump has shared an AI-generated video on social media depicting a war-torn Gaza transformed into a luxurious riviera town, featuring himself vacationing with Israeli Prime Minister Benjamin Netanyahu. The video, which has gone viral, has sparked widespread criticism and backlash, with many users expressing their disgust and disappointment. The video, set to a catchy song, showcases a utopian vision of Gaza with luxurious amenities, including SpaceX CEO Elon Musk enjoying meals in the new town, belly dancers, party scenes, and luxurious cars. The video also portrays Trump and Netanyahu enjoying the beach, while children chase after falling dollars. The post has been met with outrage, with many users stating that they voted for Trump to focus on the American economy, not for this type of project. Others criticized the lack of respect and seriousness in the video. Trump recently announced that the US will take over the Gaza Strip, own it, and undertake economic development to create jobs and housing. He envisions a diverse population, including Palestinians, living in the rebuilt Gaza Strip, which has been met with rejection from key Arab allies like Egypt, Jordan, and Saudi Arabia.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
The United States Department of Government Efficiency (DOGE), led by Elon Musk has announced cancelling a $22 million funding intended for 'voter turnout in India' on Saturday (Local Time).
RS Chairman Dhankhar called Kharge making the claim a "very sad moment" and asked him to withdraw his statement, the Leader of Opposition insisted the government give the correct figures and continued with his speech.
United States President Donald Trump for the fourth time in recent days claimed that the Biden administration allocated $21 million funding to India for 'voter turnout', evoking a sharp response from the Congress which urged Prime Minister Narendra Modi to 'talk to his friend' and strongly refute the allegation.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
The rupee has remained largely stable against the US greenback in the current calendar year (CY 2024), depreciating by just 0.59 per cent so far. However, it has considerably weakened against the euro and pound. The local currency has depreciated by 1.6 per cent against the euro and 5.6 per cent against the pound, as both currencies strengthened against the dollar during this period.
Trump further pointed out India's strong economic position and high tariffs on US goods, stating, "They got a lot of money. They're one of the highest taxing countries in the world in terms of us. We can hardly get in there because their tariffs are so high."
Information technology (IT) stocks ended at their lowest in nearly nine months after a fresh bout of selling, triggered by concerns over a recession in the US, the key market for domestic software exporters. A report by Morgan Stanley citing risks to growth also weighed on sentiment.
Moody's Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks. Moody's said most companies in its rated portfolio are domestic-focused with limited exposure to the US market.
'While I would never wish for anyone to go through what we are, it has brought out the best in us by making each one of us a better version of ourselves.' 'Being courageous, fighting for freedom, taking the burden of responsibility to help each other...' 'I know hundreds and hundreds of examples where Ukrainians are risking their lives for complete strangers and it is only in moments like this that we truly understand what it means to be human.'
The sudden and surprising announcement by Anderson comes within days of a Republican Congressman, a member of the House Judiciary Committee, asking the Department of Justice to preserve all the documents and communications related to the investigations of Adani and his companies.
IT major Microsoft will invest $3 billion in India for the expansion of cloud and AI infrastructure in the country, the company's chairman and CEO Satya Nadella said on Tuesday. There is a fantastic momentum in India where people are pushing for a multi-agent kind of deployment.
India's forex reserves dropped by $8.71 billion to $625.87 billion in the week ended January 10, the RBI said on Friday. Earlier, the overall kitty dropped by $5.693 billion to $634.58 billion in the week ended January 3, the Reserve Bank of India said.
'Not just women, but even men are judged by the colour of their skin and have to fight prejudice every day.'
While liquidity in the banking system has turned surplus in the last few weeks, it could go back to deficit again, mainly due to corporate advance tax outflows. The net liquidity surplus of the banking system rose to touch Rs 1 trillion on Tuesday on the back of government spending, according to the data released by the Reserve Bank of India.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
Trading activity of foreign investors and global trends will be the major driving factors for the equity markets in a holiday-shortened week ahead, according to analysts. Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra. Elections to the 288-member state legislative assembly will be held on November 20, and votes will be counted on November 23.
The tech community, which was getting ready to use the ChatGPT fever and raise unlimited capital for their businesses, is going to face tougher obstacles now, predicts Ajit Balakrishnan.
Such a collection of amiable characters were last seen in Panchayat. There are greedy dowry seekers, criminals, misogynists and the like, but the collective goodness of the others keep violence and male chauvinism in check, notes Deepa Gahlot.
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