Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
An analysis of WHO data shows that most of the countries with an older cohort of population and higher in the development index had a lower excess mortality rate than India.
Asserting that it is for the first time that BRICS has taken a collective position on strengthening and reforming multilateral systems, Prime Minister Narendra Modi said, "We have to ensure that BRICS is more productive in the next 15 years".
'Indices will remain range bound in 2022 as earnings catch up with the current multiples.'
'Many who have experimented with online education will adopt a blended model once things return to normal,' edX CEO and founder Anant Agrawal tells Anjuli Bhargava.
Official sources said that besides arms and ammunition, two maps showing general area of Uri were recovered from the four slain terrorists, who are now believed to be from Pakistan-based Lashkar-e-Tayiba.
'While we note the very strong cyclical recovery in the economy, we believe there is still uncertainty over medium-term prospects.'
'A soft landing of the Indian economy would be a long-term positive for the equity markets.'
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
The Defence Ministry on Friday inked a nearly Rs 20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force.
IMD has decided to increasingly use cutting-edge technology such as artificial intelligence (AI) and machine learning (ML) in forecasting, both to avoid such glitches and to counter the disruption of normal seasonal patterns as a result of climate change. It has formed various internal sub-groups of senior officials and meteorologists to decide on how best to use AI and ML in predicting cyclone intensity, and in making short-range weather forecasts (those valid for up to three hours) as well as long-range forecasts.
India's stock exchanges have decided to jointly introduce the T+1 settlement cycle in phases from February 25, beginning with the bottom 100 stocks by market capitalisation. From March 2022, on the last Friday (or the immediate next trading day) of every month, the next 500 stocks from the bottom will be subject to T+1 settlement. The phase-wise implementation is expected to give all market participants, including foreign portfolio investors (FPIs), ample time to shift to the shorter cycle. The settlement cycle represents the time period within which the stock exchanges have to settle security transactions.
Legendary cricketer Sachin Tendulkar on Thursday donated Rs one crore to procure oxygen concentrators for COVID-19 patients in the country as it battles a severe second wave of the global pandemic.
'India has formed tremendous resilience and still a strong growth.'
Madasani said he was trying to be strong for the sake of his family and wife who is pregnant with their first baby.
Much on the expected lines, Beijing reacted angrily to Hands' visit, saying that it violates the one-China principle to which London is a signatory.
Many years during which monsoons were poor saw high returns, while normal or excess rainfall has also coincided with poor calendar year gains.
IFFCO is reaching out to the young Indian urban professional.
'The most important priority for the next 25 years should be to strengthen our democracy so that it is supportive of social harmony, and to not just respect but to take pride in the diversity of Indian society in terms of the variety of languages, religion and religious practices and social norms,' explains Nitin Desai.
Stocks of companies having operations and exports to Europe were the top losers.
"I am really grateful to the entire ISRO family for having worked this hard and making IRNSS-1I a success," said the space centre's chief K Sivan.
The US, in coordination with allies and partners, continued to forcefully respond to Russia's "unjustified, unprovoked and premeditated" invasion of Ukraine by imposing sanctions on Putin and Lavrov.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
The US Food and Drug Administration (FDA) says it does not follow an India agenda.
The central bank's currency management will be critical over the next few months. A weaker rupee could help to revive exports. But, the currency must fall slowly and in controlled fashion, says Devangshu Datta.
The World Health Organisation on Monday warned that the global risk from the Omicron variant is "very high" based on early evidence, saying the mutated coronavirus could lead to surges with "severe consequences."
'If the FYUP is making the child employable, then we will have to ensure that learning on the job is integrated.' 'And also ensure that by the time they end FYUP they are completely employable.'
Siva Prasad Nanduri, chief business officer, TeamLease Digital, outlines the skills that will help you get a job in 2023.
As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report. The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022.
The Indian Space Research Organisation successfully launched India's fifth navigation satellite IRNSS-1E from Sriharikota.
'The day the power shifts, they will run across to the other side.'
The Meridian feels comfortable and upright with the quality of gadgetry, interiors and plastics expected from an international brand car. However, it lacks the overall premium-ness that may come with a top-end Japanese car or even a mid-range German car, says Pavan Lall.
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
Government think-tank body Niti Ayog CEO Amitabh Kant supported the industry demand and called for setting up of a single window clearance system for expeditious approval of projects. Start-ups and small medium enterprises requested the prime minister to provide support in low-cost capital at the virtual launch of space and satellite industry body Indian Space Association (ISpA).
The report also referred to Prime Minister Narendra Modi's visit to Israel in July 2017.
The government on Friday said 25 cases of the Omicron variant of the coronavirus have been detected in India so far and that mostly mild symptoms have been noted in all the cases.
'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.'
The most common symptoms were fatigue, post-exertional malaise -- worsening of symptoms after physical or mental exertion -- and cognitive dysfunction, often called brain fog.
Putin said the purpose of the West is to weaken, divide and ultimately destroy Russia.
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