Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
Manufacturing activities in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest improvement in operating conditions in 2023 so far. The March PMI data pointed to an improvement in overall operating conditions for the 21st straight month.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
Modi tells global investors to invest in India.
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
Some bankers are of the view the move will also help lenders meet their priority sector commitments as a large part of their housing loan portfolios comprise of loans under Rs 25 lakhs.
The Narendra Modi-led government has issued around 50 fresh guidelines easing conditions for industry in about six months, beside launching an online system for applying environment clearances.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
'India has always been a bottom-up stock-picking market, and as growth recovers with higher liquidity, mid and small-caps always tend to outperform.'
He observed that the 21st century India belongs to wealth and job creators and innovators, who are the country's true strength.
Domestic-focused agricultural chemical (agrochem) companies could face near-term headwinds, given the worries on the El Nio effect on monsoons, higher inventory, and pressure on margins. Some of these were reflected in the October-December quarter (third quarter, or Q3) results of companies and may impact them in the current quarter (fourth quarter, or Q4) as well. Nuvama Research pointed out that the sector witnessed mixed performance during the quarter as global agrochem and domestic fertiliser companies maintained growth momentum, while adverse agronomical conditions and excess channel inventory weighed on domestic market volume offtake.
'Significant reductions in the compliance obligations mean businesses earlier struggling to comply will now have enough time to prepare and comply within the extended timelines.'
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Although the survey pointed to the softness in demand leveling off, a complete recovery is still some way off.
There has not been a large impact of untimely rain and hailstorm so far in several major wheat-growing areas, and those might have damaged around 3 per cent of the standing crop -- not enough to make a big dent in the expected 112 million tonnes of production in FY24, a senior government official said on Tuesday. Relentless rain pounded most North Indian states all through March. Separately, the chairman of Food Corporation of India (FCI), Ashok K Meena, told reporters the agency was on track to achieve the targeted 34 million tonnes of procurement in FY24 on the back of a strong start to the purchase season from Madhya Pradesh.
Switzerland has been facing international pressure as countries step up efforts to curb illicit fund flows.
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
IMAGES from Day 8 of the action at the US Open at USTA Billie Jean King National Tennis Center at Flushing Meadows in New York on Monday.
People depositing money with banks in legal tender are allowed to withdraw the equivalent amount without any restriction.
More than 70 per cent of Indian youth aged between 15 and 29 can't!
Investors' confidence has been revived in recent weeks on the likelihood the elections will usher in a new government.
The information technology (IT) services industry could see value investors taking selective punts in the near future. While growth remains visible, managements across the board have been cautious or measured in their guidance and have also complained about a combination of margin pressures and high churn. The two factors are related in that employee compensation is a large component of IT costs and high churn has forced firms to hike compensation packages and also invest more in hiring, training, and retention.
The meeting, which lasted for over four hours, was attended by chief ministers and deputy chief ministers of 18 states.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
Dhanush, who turns 40 on July 28, still defies his age and can transform into an unemployed college graduate, an obsessive, one-sided lover or the doting father of a teen with equal integrity and maybe even lead a badly written film to commercial success.
A government ministry has proposed decriminalising offences under the Collection of Statistics Act 2008 as part of the government's efforts to rationalise legislations to promote the ease of doing business. The Ministry of Statistics and Programme Implementation (MoSPI) has invited public comments on its draft proposal by October 30. The proposal to amend sections of the act will decriminalise offences like obstructing or deceiving statistics officers by doing away with the provision of simple imprisonment up to six months.
India's manufacturing sector activity moderated in January amid slower increase in total sales, and headcounts were broadly unchanged amid sufficient staff numbers to cope with current requirements, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell from December's recent high of 57.8 to 55.4 in January, as factory orders and production rose at sharp, albeit slower, rate. The January PMI data pointed to an improvement in overall operating conditions for the 19th straight month.
Total foreign direct investment into India rose 2 per cent to the "highest ever" $83.57 billion in 2021-22 on account of various measures like policy reforms and ease of doing business taken by the government, the commerce and industry ministry said on Friday. Total FDI comprises equity inflows, reinvested earnings and other capital. In 2020-21, the inflow stood at $81.97 billion. It was $74.39 billion in 2019-20 and $62 billion in 2018-19. "India has recorded the highest ever annual FDI inflow of $83.57 billion in 2021-22," the ministry noted in a statement.
Images from Day 3 of the 2023 French Open at Roland Garros in Paris on Tuesday.
With the recovery of more bodies, the death toll in riot-hit Muzaffarnagar and adjoining areas touched 47 while the curfew was eased in the city for the fourth consecutive day.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
Modi assured US investors that in the next six months, he would implement all the things necessary for ease of business in the country.
The Union Cabinet has approved the modalities for holding 5G spectrum auctions, and 72097.85 MHz of radio waves will be put on the block by July-end, an official release said on Wednesday.
The key platforms that India has been exporting are Dornier-228 aircraft, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos missiles, Akash missile system, radars, mine protected vehicles, armoured vehicles, Pinaka rockets and launchers, ammunition, thermal imagers and various components of avionics and small arms.
The postponement of the Tokyo Olympics has disappointed athletes around the world but, if the coronavirus pandemic eases over the next few months, it could turn out to be a blessing for the tennis world.
The Central Drugs Standard Control Organisation said while the rights, safety, and well-being of trial subjects were of paramount importance, protocol amendment, deviation or modification might be necessary in some cases owing to unavoidable circumstances.
Equities are the go-to asset class as far as ultra-long-term returns are concerned. Over the past 123 years, global equities have provided an annualised real return of 5 per cent in US dollar terms, while bonds have delivered 1.7 per cent and short-term bills just 0.4 per cent, according to Credit Suisse's Global Investment Returns Yearbook 2023. In collaboration with the London Business School, Credit Suisse has analysed over 100 years of returns for key asset classes in 35 countries.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Manufacturing activities in India touched a three-month high in November as new orders and exports expanded boosted by demand resilience and substantial easing of cost pressure, according to a monthly survey released on Thursday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 55.7 in November, up from 55.3 in October, signalling the strongest improvement in operating conditions in three months. The November PMI data pointed to an improvement in overall operating conditions for the 17th straight month.
Thankam delivers an engaging drama that fans of good crime-solving tales will enjoy, recommends Mayur Sanap.
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