Goldman says the downgrade reflects the more difficult external funding conditions for Asia as markets increasingly anticipate Fed tapering and eventual exit from unconventional monetary policies.
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The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, continued its upward trajectory in November on the back of faster manufacturing growth.
India may have provided the fodder to the US tax evasion probe on some clients of HSBC Holdings, with respect to their accounts in the sub-continent nation, according to a finance ministry source.
Indian equities have had a rocky start to 2008, after years of double digit growth, but that has not stopped providers coming to the market with fund launches
The policy will be presented in the backdrop of rising inflation.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business, nearly half of which is a sub-prime market.
Reserve Bank of India has turned down Hongkong and Shanghai Banking Corporation Ltd's plans to pick up about 20 per cent stake in UTI Bank by restricting its approval for acquisition of only 14.6 per cent stake
The 28-year-old from Hyderabad, a winner of the Indonesia Masters, semi-finalist at Malaysia Masters and quarter-finalist at the All England Championship, saw US$36,825 added to her career earnings.
The Hyderabad Open badminton tournament, scheduled to be held from August 11 to 16, was on Thursday cancelled by the world body BWF in view of the coronavirus pandemic. The event was part of the BWF's revised calendar to restart the sport after the pandemic-forced cancellations since March.
The Reserve Bank on Thursday permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. Bank customers will have to pay Rs 21 per transaction, instead of Rs 20, with effect from January 1, 2022, if they exceed the monthly limit of free transactions. "To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction. "This increase shall be effective from January 1, 2022," the RBI said in a circular.
Aiming to intensify government's drive on black money, the PMO has asked the revenue department to look for ways other than bilateral tax treaties to bring back funds stashed abroad.
India's flag carrier Air-India has shortlisted three companies to act as advisors for its initial public offer to finance the fleet acquisition and is awaiting the government's nod for the IPO, a spokesman of the airline said on Thursday.
'Both Saina Nehwal and HS Prannoy have been cleared to participate in the ongoing Yonex Thailand Open after the fourth-round tests reports confirmed that both shuttlers have been tested negative for COVID-19.'
India's top shuttlers PV Sindhu and Saina Nehwal will be seen in action for the first time since the coronavirus-forced break when they compete in three upcoming tournaments in Bangkok, including the prestigious BWF World Tour Finals.
Swiss banks seek fresh undertakings from Indians.
Asian countries are home to some of the wealthiest expatriates in the world and about 25 per cent of the highest paid foreign assignees' prefer to live in India, a report has said.
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Business leaders met Manmohan Singh to discuss the problems facing the country.
Indo-UK business ties are becoming a two-way affair with Indian companies contributing to the growth of the British industry
Raman's hacking expertise is much in demand -- and not from criminal elements. Indian firms and multinationals like ABN Amro Bank, Aditya Birla Group, Bank of Maharashtra, Bombay Dyeing, HSBC, ICICI Bank, Indiabulls, Centurion BOP, Citibank, India Infoline, Ispat Industries and Kotak Group proactively seek his services. Raman's hacking expertise is much in demand -- and not from criminal elements.
The HSBC Services Purchasing Managers' Index eased to 53.0 in March from February's eight-month high of 53.9.
The index monitoring new business fell to a six-month low of 51.6 from March's 53.5, prompting some firms to cut jobs.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
Many Indian companies provide outsourcing services to various American entities, including large banks and financial institutions.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
So long as there are concerns about world trade, growth and oil prices, the domestic market will remain volatile.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
Nearly two million e-mandates for recurring payments have been registered with banks and card networks after the Reserve Bank of India (RBI) made it mandatory from October 1 to take prior consent of a customer before debiting her account, sources in know of the matter said. Industry estimates peg the recurring transactions at approximately 2.5 per cent of the total volume of transactions, and about 1.5 per cent in terms of value. Of these, around 75 per cent of domestic recurring transactions, and about 85 per cent international recurring payments are below Rs 5,000.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
India funds have seen almost $1 billion of outflows in the last three weeks, says Brad Durham, MD, EPFR.
Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
India has made a fresh request to Switzerland seeking bank details and names of Indians having unaccounted money in Swiss banks, as the government expands its efforts to combat the menace of black money.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
SpiceJet, India's second-largest private airline, kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress as it looks to raise much-needed capital. On Tuesday, the company sought its shareholders' approval to complete the process and to raise up to Rs 2,500 crore via a qualified institutions placement (QIP). It is in talks with multiple private equity investors as it tries to sell shares in the logistics arm to raise money.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
For India startups, pulling in the reins now may enable them to live longer - even if it means shedding their unicorn status, says Una Galani.
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
Indian banks are the 2nd-fastest-growing ones.
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