The continuing debt turmoil in the euro zone area could have an adverse fallout on the Indian economy, hurting its capital flows as well as exports, the Economic Survey said on Friday. Further, it noted that rising international oil prices could aggravate the current account deficit, which is already at high levels.
Closing banks and restricting the flow of capital can build pressure for a solution as finances get squeezed.
At a virtual press conference to launch the report, Inger Anderson, Executive Director, United Nations Environment Programme, said, "Climate change is here and now. No one is safe. Despite warnings from so many years, the world did not listen. We need to act now. Reducing greenhouse gas emissions will not only limit climate change but also reduce air pollution."
RBI's foreign exchange reserves fell $237.5 million.
Shanghai's benchmark share index plunged below 4,000 points for the first time since April
It is useful to note that Indian markets have not gone into a tailspin as the Greece crisis has developed, says Devangshu Datta.
Finance Minister Pranab Mukherjee on Wednesday said Indian markets cannot remain immune to the Eurozone debt problems and will feel the impact if the $1 trillion bailout package by the European Union and the International Monetary Fund does not inspire confidence.
Their reopening followed Prime Minister Alexis Tsipras' reluctant acceptance of a tough package of bailout demands from European partners
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
Even as Europe continues to struggle with the large influx of migrants, European Commission President Jean-Claude Juncker proposed a quota system that each country should adhere to for asylum seekers. ' Rediff.com presents the latest updates in the crisis.
The IMF dashed any hope that Athens could avert default.
For those who are unaware of the migrant crisis the EU is facing and wondering just what the fuss is all about, here's an explanation of what's going on.
US crude was down 25 cents at $52.08.
The BSE Sensex and Nifty fell more than 2 per cent on Tuesday, heading for their biggest daily loss since the midst of the rupee crisis in 2013
Rediff.com presents a selection of the Pultizer Prize winning images that unveil Europe's massive refugee crisis.
Positive cues from Asian peers also uplifted the sentiment.
SBI said the crisis in Grece would have little impact on the bank.
A rising number of Greeks in rural areas are swapping goods and services in cashless transactions.
European leaders are searching for solutions as conflicts in Syria and Iraq are sending thousands of refugees on dangerous voyages through the Balkans and across the Mediterranean to the 28-nation European Union. Here are the latest developments on the crisis.
'The group commands 85 per cent of the global GDP, and if you are able to convey your point of view effectively to this group then you have reached more or less all the important players that matter.'
An interview with Amit Mitra, the finance minister of West Bengal.
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
Rain gods may be kinder; revenue collections going up: Jaitley
World economy may not be teetering on the edge, as yet.
Russian Foreign Minister Sergey Lavrov will be on a two-day official visit to India from Thursday, his first trip to the country since Moscow launched its invasion of Ukraine last month.
The EU is still an India in the making.
A decision to tap the 30 countries for exporting wheat was taken at a meeting of the commerce ministry on Thursday.
It is learnt that Lavrov is expected to travel to India either on Thursday or Friday after concluding a two-day visit to China.
In a recent report, BofA-ML suggests investors to track these six event risks in July apart from the Greek drama
Declining crude price translates into lower under-recoveries for OMCs
Sensex is now as expensive as in early 2008
If profligate Greece defaults on its debt, it will pull down many other European economies, says Shonalee Biswas.
Organisers say the soccer training sessions for children hosted at two refugee camps on the Greek island promote dialogue, respect and tolerance among the young participants, helping to easing stress and nurture friendships.
Athens has pushed two reform packages through parliament
Greece are determined to lift the mood back home during Euro 2012 with the country's huge debt woes causing worry and fear, striker Giorgos Samaras said on Wednesday.
Worries over Greece sparked a sell-off in emerging markets on Monday
India has said that it was deeply concerned over the deteriorating situation in Ukraine and reiterated its call for immediate cessation of violence and end to hostilities.
Wolfgang Schauble has done right by the Euro zone, but the Greeks believe that doesn't necessarily mean he has done right by them.
Prime Minister Alexis Tsipras battled to win lawmakers' approval on Wednesday for a bailout deal to keep Greece in the euro and avoid bankruptcy, as the IMF pressured Greece's creditors to provide massive debt relief for its crippled economy.
Tokyo 2020 organisers received the Olympic flame in a scaled-down handover ceremony in the Greek capital on Thursday, amid the coronavirus spread that has cast doubt on the global, multi-billion dollar event. In a brief ceremony closed to spectators in Athens' Panathenaic stadium, site of the first modern Games in 1896, the torch was received by Tokyo Games representative Naoko Imoto.
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