It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
'The coronavirus epidemic highlights the need to start thinking more actively about multilateral coordination, including, but not confined to, health emergencies and climate uncertainties,' says Rathin Roy.
The uncertainty created by the jump in COVID-19 infections and localised lockdowns prompted RBI Governor Shaktikanta Das and other members of the rating setting panel MPC to unanimously vote for status quo in interest rates and an accommodative policy stance to support growth, as per minutes of the meeting released on Thursday. "The need of the hour is to effectively secure the economic recovery underway so that it becomes broad-based and durable," the Governor said during the three-day meeting of the Monetary Policy Committee (MPC) which ended on April 7. The renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns add uncertainty to the growth outlook, he observed, as per the minutes of the meeting released by the central bank.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
We need to take special steps to provide resources to the developing countries.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
Prime Minister Narendra Modi on Sunday lauded Singapore's founder and first premier Lee Kuan Yew as a 'global thinker'
India has been maintaining that Pakistan extends regular support to terror groups like Lashkar-e-Taiba, Jaish-e-Mohammad and Hizbul Mujahideen, whose prime target is India, and has urged FATF to take action against Islamabad.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
Amid an existential crisis confronting the company, Vodafone Idea CEO Ravinder Takkar has reached out to consumers reaffirming the telco's commitment to continue providing "superior services and best-in-class propositions". Thanking users for their continued support as the company approaches first anniversary of 'Vi' branding, Takkar noted that Vi came with a promise of a better tomorrow, bringing the best in technology, services and solutions for the Digital India and Digital Bharat. The company will continue to deliver on this promise to keep users ahead, Takkar said in the mailer to consumers.
Combined net profit estimated to grow 14.6% year-on-year, against a 5.7% decline in the Dec 2015 quarter
Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
In an address at the Council of Heads of Government meeting of the eight-member SCO, Vice President Venkaiah Naidu said the most important challenge faced by the region is terrorism, particularly cross-border terrorism, and that India remained concerned about threats emerging from ungoverned spaces as well.
The right policy response to global price increases is not straightforward. The draft report is wide-ranging in its scope, and it attempts to provide a coherent, integrated view of financial sector reforms that would equip India's financial sector to support growth, widen financial access and maintain stability over the next decades. The report is being released for public discussion at a critical juncture in both the domestic and global economy.
So far, almost every positive development in terms of the bilateral ties has been overtaken by innate hostility that is often driven by popular sentiments.
'Banking is a business of trust.'
Outlining seven principles of engagement for closer cooperation between India and China, Prime Minister Manmohan Singh on Thursday said the two countries should show sensitivity to each other's interests and sovereignty and move quickly to resolve the boundary issue.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution, Subramanian said.
India has already signed the OECD's global standard for automatic exchange of information between tax authorities two years back and once the new format is implemented, the country will follow the new protocols envisaged in it.
Walmart agreed to pay more than $ 144 million to settle US Security and Exchange Commission's charges and approximately $ 138 million to resolve parallel criminal charges by the Department of Justice for a combined total of more than $ 282 million.
HR Guru Mayank Rautela offers practical advice.
While Prime Minister Modi grapples with serious matters of State so very successfully, may I urge that he focus just a bit of attention on the economy, says Manoj Mohanka.
Many analysts over the past week have said the RBI has legroom to cut rates to the tune of 65 bps by June and some like Barclays and BofA have also spoken about the likelihood of an inter-meeting cut.
'The competition between the two is definitely going to be of great interest to the Indian market.'
Cloned journals have become more rampant in the post-pandemic world.
IT firms Infosys and Mphasis on Tuesday said they will create employment for about 2,000 people, while Wipro will invest pound 16 million (about Rs 163 crore) in the UK over the next few years. The announcements were made ahead of the virtual summit between UK Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. Infosys said it plans to hire 1,000 workers in the UK over the next three years as part of efforts to support the country's economic recovery and growth.
'Investors should reduce cash gradually and look for value investing.'
'India needs offensive and defensive security measures to protect itself.'
'The world needs India because it needs a voice that speaks of peace, non-violence and peaceful coexistence.' 'This vision and voice, this attitude and belief are what India has stood for over the last twenty millennia,' Vice President Venkaiah Naidu tells trainee diplomats.
"Workers and businesses are facing catastrophe, in both developed and developing economies. We have to move fast, decisively, and together. The right, urgent, measures, could make the difference between survival and collapse," ILO Director-General Guy Ryder said on Tuesday. Worldwide, two billion people work in the informal sector (mostly in emerging and developing economies) and are particularly at risk, the report said, adding that the COVID-19 crisis is already affecting tens of millions of informal workers. "In India, Nigeria and Brazil, the number of workers in the informal economy affected by the lockdown and other containment measures is substantial," ILO said.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
GSVC allows young entrepreneurs to showcase their business models and possibly win a trip to America!
While companies continue to face regulatory pressure leading to higher costs, they see an uptick from the launch of differentiated and high-margin products
Leading global advertising and marketing communications services company, Omnicom Group Inc, said on Monday that it has reached an agreement with Anil Ambani-led ADAG to buy a 51 per cent stake in the latter's ad agency, Mudra.
Global technology service provider EDS said on Monday it has reached an agreement to acquire Bangalore-based software testing firm RelQ Software Private Ltd.
Analysts remain sceptical on the profitability from freighter business, saying that once normal air transport resumes and there's abundant belly capacity, the traditional economics of air cargo may not be that lucrative.
