Sensex rises, snapping two-session losing streak; banks, auto gain.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
London is the most expensive among main cities of Europe, as a range of goods and services are costliest in the British capital, a new study has found.
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
Stating that growth impulses and the fast-moving indicators are strong, Reserve Bank Governor Shaktikanta Das on Wednesday exuded confidence of the economy clipping at the projected 9.5 per cent this fiscal. Giving all the credit for the faster-than-expected recovery of the economy to the government, Das said the central bank has only been supporting the government in reviving the economy ravaged by the pandemic. Citing a slew of measures the government has taken since the pandemic struck in March 2020, the governor specifically mentioned tax cuts on fuels, tax resolution for the telecom sector, annulling of the retro tax legislation, sale of Air India, plans to sell some of the public sector banks and PLI scheme as the major reforms and growth-drivers bearing fruits now.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
Pele was eventually convinced to sign a multimillion-dollar deal with US club New York Santos in June 1975, aided by then-Secretary of State Henry Kissinger, who wrote a letter to the Brazilian government stressing how important his presence would be for bilateral relations.
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
As probe into suspected black money stashed abroad by Indians gathers steam, banks in Switzerland are running from pillar to post to safeguard their interest.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
Ultratech Cement was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI and HUL. NSE Nifty advanced 52.35 points to 18,308.10.
Global gold demand has seen a year-on-year decline of 8 per cent during the April-June period to 948.4 tonnes and going ahead further monetary tightening and continued dollar strength may pose headwinds, says a report. According to the WGC Gold Demand Trends Q2 2022 report, the total gold demand during the second quarter of 2021 stood at 1,031.8 tonnes. The year-on-year demand was affected by increase in gold electronic traded funds (ETFs) outflow, decline in Central banks buying and lower demand from the technology segment, the report said.
Iran is preparing for a trade and investment boom that could reshape the region after agreeing with world powers to curb its nuclear programme, paving the way for sanctions that have stifled its economy to be lifted.
The agreement, dubbed "LaLiga Boost", buys CVC an 8.2% stake in a new company that will get broadcasting revenues and sponsorship rights for 50 years.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
For investment bankers, a Brexit vote is more than just about volatile prices on a screen but also about where they may end up working and living.
The 30-share Sensex ended 79 points lower at 26,909 and the 50-share Nifty closed 25 points lower at 8,102.
By driving a hard bargain with Russia in procuring crude oil at the lowest price possible, India is furthering the policy of G7 and Washington is "comfortable" with New Delhi over its approach in addressing issues relating to energy security, a top Biden administration official said.
BSE benchmark Sensex plummeted over 388 points to close at 58,576.37 on Tuesday, tracking weakness in index majors Wipro, RIL and Bharti Airtel amid a weak trend in global markets. Investors also remained cautious ahead of crucial macroeconomic data announcements -- industrial production for February and inflation rate for March -- post trading hours. The Sensex declined 388.20 points or 0.66 per cent to settle at 58,576.37. During the day, the benchmark tanked 666 points or 1.12 per cent to 58,298.57.
Indian banks are the 2nd-fastest-growing ones.
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
The league, which was announced on Sunday with 12 founding members, has been championed by Real Madrid president Florentino Perez, the new competition's chairman. It is now left with three Italian clubs -- AC Milan, Juventus and Inter Milan -- plus Perez's Real Madrid along with Barcelona and Atletico Madrid from Spain.
Britain said it had imposed asset freezes on Chelsea soccer club owner Roman Abramovich
The US Fed on May 24 hinted at withdrawing its third round of quantitative easing, or bond buying programme, worth $85 billion each month, which began in the wake of the worst credit crisis in September 2008.
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
Metal stocks fell on Tuesday, with the S&P BSE metal index sliding 2.8 per cent compared to the 0.64 per cent fall in the benchmark S&P BSE Sensex
'It is less dependent on imported capital.'
'Sectors that had been left out till now will also start participating in the rally.'
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
Two India-origin individuals -- Sandeep Malhotra and Sanjee Shah -- have found a place in the league of 40 rising stars in the European wealth management industry.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
IT majors along with metal names Sesa Goa and Hindalco buck trend.
The company expects around $40 million annualised revenue from the acquisition but declines to share financial details of the deal.
'Today, three areas give banks a big headache -- steel, power, infrastructure.' 'Three Cs are very critical in lending -- character, capacity and collateral of the borrower.'
'2022 has not been -- and will not be -- the kind of 2021 bull market, which lifted all boats.'
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
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