More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
'The Kerala BJP leadership is doing the job of clerical staff. What the boss orders, they just follow them.'
To curb the menace of illicit fund flows, the government has set up a high level panel that will look into trade-based money laundering activities which particularly involve manipulation of invoices.
Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require. Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
The Central Board of Indirect Taxes and Customs (CBIC) has stepped up its watch on the import of unbranded gold jewellery amid a spurt in seizures on international borders and from importers. During FY24, the CBIC and Directorate of Revenue Intelligence (DRI) jointly seized about 5 tonnes of gold, 30 per cent more than what they did in FY23. In FY23, 3.5 tonnes of gold was confiscated.
The incident remains a reminder of the inherent fragilities of all geopolitical relationships.
This is the first time that this important nodal national agency for economic intelligence has obtained data on suspected offshore stash of Indians as, till now, such information was only received by the exclusive wing of the Central Board of Direct Taxes.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
'It came out of China and it could have been stopped and I wish they had stopped it and so does the whole world wish they had stopped it'
'In Parliament, he was the one person who stood for democracy and secularism even when the principal Opposition party was not very forthright in taking on the BJP and RSS.'
Is India headed there again? questions Ajit Balakrishnan
India has the lowest labour force participation rate in South Asia and one of the lowest in the world, points out Aakar Patel.
NITI Aayog had been asking for Rs 7,500 crore for three years to set up an AI framework.
"I am very happy and proud of his achievements. I am yet to speak to him. I think he must be sleeping as it's still night in the United States," she said.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
'Indians are basically liked because they are educated, they are intelligent.'
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
In its set of recommendations, the China Committee said that economic sanctions against China in case of an attack on Taiwan will be most effective if key allies such as G7, NATO, NATO+5, and Quad members join, and negotiating a joint response and broadcasting this message publicly have the added benefit of enhancing deterrence.
Do not, however, enter expecting quick returns.
The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday. Following a net addition of 84, the country's billionaire tally touched 271 with their combined wealth at $1 trillion, noted the report. Mukesh Ambani, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms.
CEC Sunil Arora will meet former heads of Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs on Friday to discuss ways to keep a check on black money disbursements in South India, especially Tamil Nadu.
The Central Economic Intelligence Bureau, lead agency under Finance Ministry to gather and disseminate intelligence related to financial crimes, has traced illegal flow of money through Private Placement Programme, which involves offering of securities to select individuals or groups, upto 50 in numbers, official sources said.
Trading of diamonds especially with a gulf country has come under the lens of intelligence agencies here for suspected terror financing and money laundering.
Prime Minister Justin Trudeau has said Canada is 'very serious' about building closer ties with India as it is a growing economic power and important geopolitical player, but wants New Delhi to work with Ottawa to ensure that they get the full facts about the killing of Hardeep Singh Nijjar.
Throughout 2022, China turned to the PLA as an increasingly capable instrument of Statecraft, strengthening its ability to 'fight and win wars' against a 'strong enemy', points out Ajai Shukla.
'The Americans want to have a good relationship with India. They see it as a counterweight to China. And also American businesses are all trying to get out of China and go to India and Vietnam as well, but India largely.'
It is time the political leaderships in this country arrived at a common ground over issues of foreign and security policy concerns. There has to be a greater communication between the government and the Opposition leaderships for the nation to present a unified face against the rest of the world, advises N Sathiya Moorthy.
He said that US intelligence shows that Chinese President Xi Jinping has instructed his nation's military to 'be ready by 2027' to invade Taiwan.
'This incident offers ammunition to those inside the US government and elsewhere who question the wisdom of trusting India, so it will have a lasting consequence no matter how it is managed.'
The United States-China Summit meeting concluded at a sprawling mansion in Woodside, California with Presidents Joe Biden and Xi Jinping agreeing to work towards ensuring that the differences between the two countries remain manageable and the relations do not derail.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
"Had corona (COVID-19) not been there, the prime minister would have dedicated NATGRID to the country. I am hopeful that the prime minister will dedicate NATGRID to the country in some time," Union home minister Amit Shah said during the 51st Foundation Day event of the Bureau of Police Research and Development (BPRD) here on September 4.
'Our objective is to reach a localisation rate of 50% in the span of five years.'
"On space, we will be able to announce that India is signing the Artemis Accords, which advance a common vision for space exploration for the benefit of all humankind," a senior administration official said hours before the meeting between Prime Minister Narendra Modi and President Joe Biden in the Oval Office.
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.
The Financial Intelligence Unit (FIU), the federal economic snoop agency under the Union finance ministry, sent 289 legal requests to its counterparts across the globe during 2018-19 as compared to 177 in 2017-18 and 138 in 2016-17.
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
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