'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.'
The pace of economic growth in emerging markets continued to revive from the stagnation seen earlier in the year.
The HSBC India Services Business Activity Index, that tracks changes in activity at Indian services companies on a month-by-month basis, fell from 51.6 to exactly 50.0 in October.
The index has remained above the 50-mark, below which it indicates contraction, for more than three years now.
'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.'
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.
Indian parents are willing to make tremendous sacrifices when it comes to educating their children.
HSBC's services purchasing managers index, that maps the activity of around 400 firms, despite a 40 basis points dip, has kept above the 50 mark that signifies growth since November.
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.
New business orders fall at faster pace, with index at 47.6 in March from 49.5 in February.
Tax department has launched 60 prosecutions.
According to the annual HSBC 'Value of Education Learning for Life' report, India has the world's highest proportion of parents (88 per cent) who are willing to send their children abroad for higher studies, ahead of Turkey (83 per cent), Malaysia and China (82 per cent each).
After contracting for 3 consecutive months, manufacturing activity saw an uptick in November, latest data from the HSBC Purchasing Managers' Index shows.
The HSBC India Composite Output Index, which maps both services and manufacturing, increased from 48.9 in March to 49.5 in April, but remained below the crucial 50 mark which indicates contraction for the second successive month.
Exports of high-tech products will grow more quickly than exports of other goods over the next 15 years as emerging Asia moves away from being a low-cost production hub for foreign brands and toward developing value-added local products, according to research from HSBC.
The HSBC India Manufacturing Purchasing Managers' Index for the manufacturing industry climbed from 49.6 in October to 51.3 in November on the back of a rebound in new orders and output.
World champion shuttler P V Sindhu on Thursday donated Rs 5 lakh each to the Chief Minister's Relief Funds of Telangana and Andhra Pradesh to fight the dreaded COVID-19 pandemic, which has claimed over 21,000 lives globally. The number of positive cases in India has surpassed the 600-mark, while 13 deaths have been reported so far, prompting the government to put the country under lockdown till April 14 to halt the spread of the virus.
Of the BRIC (Brazil, Russia, India and China) economies, China, Russia and Brazil posted sharper increases in activity, but India registered a fourth successive decline in output.
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.
EPFO is managing a corpus of Rs 6.5 lakh crore.
The index has posted below the 50 mark, which marks contraction, for the third consecutive month.
The HSBC global research team has compared average annual fees and annual cost of living in 13 major study abroad destinations.
Finance Minister P Chidambaram has been repeatedly stressing he will meet the fiscal deficit target of 4.8 per cent of the gross domestic product in this fiscal, but HSBC said the spending-revenue gap may overshoot to 5.1 per cent.
The headline HSBC India Purchasing Managers' Index -- a composite gauge designed to give a single-figure snapshot of manufacturing business conditions -- stood at 54.5 in December, up from 53.3 in the prior month.
The HSBC Markit Services Purchasing Managers' Index fell to 51.7 in June from May's three-month high of 53.6, in a sign that Asia's third-largest economy is still struggling to climb out of a quagmire of low growth and high inflation.
India's manufacturing sector activity remained broadly flat in June as new orders declined for the first time in over four years and power cuts and fragile economic conditions weighed on the sector's performance, an HSBC survey said.
According to HSBC, the volatility in Indian markets since May can be attributed to the initial talk about tapering of bond purchase by the US Federal Reserve but the catalyst for recent volatility in Indian equities was when policymakers decided to tighten liquidity to stem capital outflows.
Let's take a look at countries that will see biggest jump in exports.
Income Tax dept will launch over 100 fresh prosecution complaints.
During May, the HSBC composite index for India, which maps both manufacturing and services sectors, stood at 52, whereas for China it was 50.9, Brazil (51.2) and Russia (51). An index measure of above 50 indicates expansion.
The RBI left interest rates unchanged, saying there was no substantial development on inflation or fiscal fronts to warrant a fresh reduction.
India's private sector activity contracted further in August, reflecting faster contractions of both manufacturing and services output, amid decline in new orders and tough economic conditions.
Chances of a rate cut in April improve if core inflation continues to ease, growth falling below the projected 7.2% for FY19 and if the global trade slowdown exacerbates.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
It was Sindhu's third successive loss to Marin, who had won both the Super 1000 events in Thailand in January before finishing runners-up at the HSBC BWF World Tour Finals.
India's services sector activity expanded in May and the pace was the fastest in three months, driven by uptick in new orders, an HSBC survey said on Wednesday.
With the Financial Intelligence Unit deciding to probe three major banks for alleged money laundering, it is interesting to note that the same agency also conducted a probe in the HSBC money laundering case.
Bumper liquidity as a result of global central bank stimulus measures should prevent a sharper downturn.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
