Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
Welingkar Institute of Management Development and Research opens admissions to its Master's Level postgraduate diploma in Business Administration through distance learning.
India's public debt ratio, which remarkably remained stable at around 70 per cent of the GDP since 1991, is projected to jump by 17 percentage points to nearly 90 per cent because of increase in public spending due to COVID-19, the IMF said.
Mohan has been appointed as the Professor in the Practice of International Economics and Finance in the Yale School of Management, and as Senior Fellow in the Jackson Institute for Global Affairs at Yale University; Yale University President Richard C Levin said in a statement on Friday.
IIM-Trichy has seen a dip in the number of offers per recruiter. IIM-Udaipur is yet to place 20 of its 144 students.
For several years the Chinese authorities have been taking steps to internationalise the use of the yuan.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
The International Institute of Finance, which has representatives from 360 major banks and financial institutions of 60 countries, has suggested the expansion of the G-7 to G-11 to include India, China, Russia and Brazil.
Payments banks are niche banks which will be allowed to function with several restrictions.
Salaries offered to Indian Institute of Management-Calcutta (IIM-C) graduates have increased 15-20 per cent compared to last year, during the recently concluded final placements, with more than 70 students bagging international postings.
Collection dived to 75-80% in November-December from 99% after demonetisation.
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
India and the US inked a tax information sharing agreement under FATCA which will enable automatic exchange of financial information.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
Welingkar Institute of Management opens admission for the Master's Level Post Graduate Diploma in Business Administration through Distance Learning
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
Young professionals who lost their jobs tell Rediff.com's Divya Nair how they reclaimed their lives.
The AIIMS administration has initiated an internal inquiry to look into the cause of the fire and further strengthen preventive measure.
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.
"In India's development cooperation, we will be guided by our partners' development priorities. Our assistance does not create indebtedness and is without conditionalities," he said at the 44th Annual Meeting of the G-77 Foreign Ministers on Thursday, in a veiled reference to China's loans which has led to debt-traps in some countries.
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
A research was conducted jointly by the universities on the finances of foreign students and the paper asked the Australian government and educational institutions to set aside funds for such students. Review of the 'specified minimum income' the students need to support themselves while studying, was also demanded from the government, The Australian reported on Wednesday.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
Nawaz Sharif was the last Pakistani prime minister to visit the US on an official trip in October 2015.
Jet Airways' plan to raise funds from international institutional investors will come up for approval by the Foreign Investment Promotion Board this week.
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Indian-American economist Arvind Panagariya has said that he is "honoured" to be appointed by Prime Minister Narendra Modi as the first Vice Chairman of the newly created NITI Aayog, which replaces the 65-year-old Planning Commission.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
The CII delegation includes many eminent names.
The new body may be headed by the Prime Minister as the chairman position would be ex-officio.
Dawood Ibrahim is wanted in India to face the law of the land for carrying out serial blasts in Mumbai in 1993 in which scores of people were killed and injured.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
In 2002-03, the government had funded only 30 per cent of its total expenditure.
The IMF proposals will be reviewed by the finance ministers of G-20, whose representatives are in Washington for meetings this week, The Post reported.
'What we are actually missing in India is a platform wherein the government engages with cybersecurity experts, gets them employed and then utilises their capability to deter such attacks.'
'The most important thing is that the psychological signal it is giving to the markets and international markets,' says former finance secretary Arvind Mayaram.
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