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.
The Congress party may have its eyes firmly set on the Bharat Jodo Yatra, but it kept its fingers crossed as it waited for Thursday's counting of votes for the assembly elections in Gujarat and Himachal Pradesh.
The virtual meeting between the two leaders came in the midst of some disquiet in Washington over India's position on the Ukraine crisis as well as its decision to procure discounted Russian oil.
'We are planning load shedding in such a way that the entire state will not suffer.'
Former New Jersey Governor Chris Christie and a Republican presidential aspirant have called his fellow rival Indian-American Vivek Ramaswamy a guy who sounds like ChatGPT and described him as an "amateur" Barack Obama.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
What some of our leaders were up to on Monday and Tuesday.
India has not yet condemned the Russian invasion of Ukraine and it has been maintaining that the crisis must be resolved through diplomacy and dialogue.
Fauci, 81, has been the National Institute of Allergy and Infectious Diseases director since 1984, and the chief medical adviser to the US President Joe Biden.
RB Leipzig's Timo Werner scored a hat-trick as they demolished hosts Mainz 5-0 on Sunday to reclaim third place in the Bundesliga with an emphatic victory after three straight draws. Schalke 04 slumped to a shock 3-0 home defeat by relegation-threatened Augsburg on Sunday, their fourth defeat in five games dropping them to eighth place in the Bundesliga.
India on Wednesday asserted there can be no military solution to the lethal Syrian conflict and societies cannot be "re-ordered from outside" as people have the right to choose their own destiny.
'India's sizeable foreign exchange reserves should serve as a buffer.'
The Russia-Ukraine conflict, which has spooked financial markets globally, will set the tone for Dalal Street this week amid concerns over energy prices and foreign fund outflows, analysts said. Participants will also track key macroeconomic signals like GDP estimates and PMI data for manufacturing and services sectors to be announced this week, they added. "With earnings season behind us and given the overall sentiments, markets are expected to move in sync with global peers in the coming week. "A close eye will be kept on the developments concerning the Russia - Ukraine crisis and considering the inflation overhang, market participants will also observe movements in energy prices," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
The electric scooter juggernaut which has been picking up momentum with heady growth month-on-month is now slowing down. The combined number of registrations in April of eight electric two wheeler companies has seen a dip of over 1 per cent to 43,061 vehicles, according to data from the Ministry of Road Transport & Highways' site VAHAN. The reasons are the continuing shortage of chips, especially after the Ukraine-Russia war, and the spate of fires which have led to scooters being recalled by manufacturers.
The solution to globalisation is decentralisation and the solution to multilateralism is reformed multilateralism, not a 1945-version of multilateralism, External Affairs Minister S Jaishankar has said.
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
Chinese Foreign Minister Wang Yi on Sunday met Sri Lanka's top leadership and discussed a host of issues, including the debt crisis faced by the island nation, investments, promoting tourism and the fight against the COVID-19 pandemic as the two countries marked the 65th anniversary of diplomatic ties.
Russian forces have made minimal progress on land, sea or air in recent days and they continue to suffer heavy losses, the UK's ministry of defence said on Thursday.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
RRR threw a lifeline, or so it seemed -- to a world that was down in the dumps. Keeravani and his Naatu Naatu just happened to be in the right place at the right time, notes Saibal Chatterjee.
The company is currently celebrating the first anniversary of its Camry Hybrid in India during which it has sold 541 units
On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's chief executive officer Igor Sechin and discussed raising crude imports from that country, in addition to talks about going for more acquisitions.
Addressing the 400th birth anniversary celebrations of legendary Ahom general Lachit Barphukan, Modi said the history of India was not just about slavery but also about its warriors and it was important that the collective sense of history was not limited to a few decades or centuries.
India annually spends Rs 4.5 lakh crore on importing petroleum products, and Transport Minister Nitin Gadkari feels methane is a cost-effective import substitution. But is it? Pallava Bagla examines the pros and cons.
India and France expressed "serious concern" at the ongoing conflict and humanitarian crisis in Ukraine.
They said rampant infrastructure development without a plan is making the fragile Himalayan ecosystem even more vulnerable to the effects of climate change which acts as a force-multiplier.
Notwithstanding how the current impasse is solved, at some point in the future, Russia will realise that just as centuries ago it developed the paradigm of securing its heartland's safety through annexing vast buffer zones between itself and the enemy, a more modern security is possible only through friendly relations and sustainable peace, observes Shyam G Menon.
Pakistan's cash-strapped new government announced a hefty 15 per cent hike in its defence budget to Rs 627 billion, with the powerful army getting the lion's share of the outlay.
The nominees are Congresswoman Deb Haaland as Secretary of Interior, Jennifer Granholm as Energy Secretary, Michael Regan as administrator for Environmental Protection Agency and Brenda Mallory as Chair of the Council of the Council on Environmental Quality.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
Each disaster has the same message: Learn to respect the mountains before you build tunnels, roads, and houses, notes Sunita Narain.
People familiar with the development said on Friday that the Chinese envoy held wide-ranging talks with the external affairs ministry's point person for Afghanistan J P Singh.
In what is seen as the first sign of China's exasperation over Russia's Ukraine war, Chinese President Xi Jinping on Thursday raised 'questions and concerns' over the conflict in his meeting in Samarkand with Russian President Vladimir Putin who thanked Beijing for its 'balanced position' on the crisis.
As oil marketing companies (OMCs) stare at huge under-recoveries, India is facing fuel shortage across the country with states like Rajasthan, Madhya Pradesh, Karnataka Uttarakhand, Gujarat and Haryana being the worst hit. The under-recoveries suffered by OMCs are around Rs 20-25 a litre for diesel and Rs 14-18 a litre for petrol, said sources. Government and state-run companies denied reports of any crisis or supply-side issues on the availability of fuel.
The leaders of the Quad comprising India, the United States, Australia and Japan are set to demonstrate that the grouping is a 'force for global good' and has a unifying commitment to a rules-based international order amid China's increasingly intimidatory behaviour.
Given the economic trends, it might make sense to allocate some savings to gold.
Krishna Kumar offers some tips on how to cope with being served the pink slip.
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
