Biden's remarks could be seen as a setback to the Shehbaz Sharif government's bid to improve ties with the US.
The Central Bureau of Investigation on Monday told a special court here that former ICICI Bank CEO and MD Chanda Kochhar misappropriated the lender's funds for personal use. The probe agency, represented by special public prosecutor A Limosin, made this argument while urging the special court to take cognizance of the chargesheet filed against Chanda Kochhar, her husband Deepak Kochhar and others in a case pertaining to cheating and irregularities in sanctioning of loans to Videocon Group firms. Chanda Kochhar was MD and CEO of ICICI Bank between May 2009 and January 2019 in which capacity she was entrusted with the Bank's funds, the CBI told court.
A special Central Bureau of Investigation court here on Wednesday extended till December 29 the CBI custody of former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot in connection with a loan fraud case. The probe agency arrested Kochhars last Friday after questioning them briefly. Dhoot was arrested on Monday.
The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay high court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, arrested by the CBI on December 26, 2022, and presently in judicial custody, has moved the high court seeking to quash the First Information Report, and has also sought interim bail.
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
'There is a huge risk of misinformation and disinformation, and targeted campaigns that could potentially happen against candidates or to push certain narratives.'
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
Akbaruddin is currently serving as additional secretary in the MEA.
'By taking over these reactors, it will ensure Ukraine's supply of electricity is cut off.'
US urges New Delhi to align its nuclear liability law with the international convention
India must be prepared for a big, fat fuel import bill in FY23 - barring any further avatars of the Covid virus - as refiners crank up runs, or crude processing rates, to meet the growing demand for fuels, and crude prices soar. Capacity additions by an Indian state-run refiner will reinforce the need for foreign crude. Demand for all fuels is expected to increase by 3-8 per cent next fiscal from 2021-22, reaching pre-pandemic levels, according to analysts and industry experts.
A day after the promoters of Adani Group prepaid $1.1 billion loans, one of the group's listed entities - Adani Ports and Special Economic Zone (APSEZ) - announced that it would prepay loans of up to Rs 5,000 crore by next month-end so as to improve its financial metrics. The company is targeting an earnings before interest, tax, depreciation and amortisation (Ebitda) of around Rs 15,000 crore this financial year. This was revealed by Karan Adani, chief executive officer (CEO) and whole-time director of APSEZ, while announcing the September-December 2022 results.
Oil subsidies to fall 44% in FY15.
One looks upon the coming new year with foreboding as current wars in Ukraine and Gaza spill over and escalate and new ones erupt in incipient fault lines across the world, notes former foreign secretary Shyam Saran.
India is currently the world's fourth-largest oil consumer after the United States, China and Japan
The Indian Space Research Organisation said it successfully carried out an "extremely challenging" controlled re-entry experiment of the decommissioned orbiting Megha-Tropiques-1 (MT-1) satellite.
"Have just got the good news that due to the hard work of our teams and your cooperation, a consensus has been reached on New Delhi G20 Leaders Summit Declaration," Modi said while addressing the second session of the Summit at the Bharat Mandapam in New Delhi.
United States President Donald Trump has warned Iran of "major retaliation" if Tehran carries out any attack against America to avenge the killing of top military commander Qasem Soleimani and hinted at striking its cultural sites. His statement came hours after Iran announced it will no longer abide by the limits contained in the 2015 landmark nuclear deal.
Piyush Goyal is leading a delegation to deliberate with Australia.
The temple town is likely to witness a major jump in tourist inflow once flagship projects are commissioned. In the first six months of 2022, more than 20 million tourists visited Ayodhya.
The US dollar's weakness against some currencies overseas capped the losses.
The Economic Survey 2022-23 (FY23), to be presented a day before Union Budget 2023-24 (FY24), is likely to project India's real gross domestic product (GDP) growth between 6 per cent and 7 per cent for FY24, Business Standard has learnt. The broader theme of the Survey could be on how India has dealt with two years of a global pandemic and the ongoing geopolitical disturbance, the strengths and weaknesses that emerged, and what lessons may be learnt. The much-awaited Survey will be the first one by Chief Economic Advisor V Anantha Nageswaran and his team in the finance ministry's economic division.
An India-Japan joint statement said the two leaders expressed serious concern over the conflict and the unfolding humanitarian crisis in Ukraine.
Russia on Thursday said it was not bothered at a possible price cap on its crude oil proposed by the West, saying Moscow will negotiate directly with its partners like India and China as the price should be decided between the producers and consumers, and "not someone who just decided to punish someone." Members of the G7 have agreed to impose a price cap on Russian oil in a bid to hit Moscow's ability to finance the war in Ukraine. Countries want to reach an agreement ahead of December 5, when Europe's embargo on Russian crude travelling by sea takes effect.
The World Bank must become Archimedes's lever to help change the world into a more prosperous, inclusive, and sustainable planet in the 21st century. The change in leadership now provides that opportunity, observes Ajay Chhibber.
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
According to the National Earthquake Monitoring and Research Centre, the earthquake with an epicentre in Jajarkot district was recorded at 11.47 pm.
Seeing the potential of shale gas, Reliance Industries moved early to secure a foothold in the Marcellus shale reserves in the US.
India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said.
The agency has also named companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries limited as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of prevention of corruption act.
Murthy, who currently is the top Indian-American advisor to President-elect Joe Biden on COVID-19, is a potential pick for the post of Secretary of Health and Human Services and Stanford University Professor Arun Majumdar for the post of Secretary of Energy, The Washington Post and Politico said in their reports on Tuesday that mentions a list of potential picks for various Cabinet-level positions in the Biden administration.
Trump's decision to call off the visit came just a day after Pompeo had announced that the newly appointed special representative for North Korea Steve Biegun and he will be travelling to North Korea next week to "make further diplomatic progress towards our objective."
Global supply is staying in excess of demand.
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay high court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal. The high court, however, refused to grant an urgent hearing and directed the Kochhars to mention the matter before the regular bench once it resumes after vacation. A lawyer representing the Kocchars said that no prior sanction, as required under the law, was obtained by the CBI before their arrest.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
"We continue to call on China to be transparent in sharing data and to conduct the necessary investigations and share the results. Understanding how the pandemic began remains both a moral and scientific imperative," Ghebreyesus said.
The India-Japan global partnership is based on shared democratic values and respect for the rule of law and promotes peace and stability in the Indo-Pacific, Prime Minister Narendra Modi said on Monday after holding wide-ranging talks with his Japanese counterpart Fumio Kishida.
Chinese foreign ministry spokesperson, Hua Chunying said China-Pakistan cooperation is in accordance with the 48-member nuclear club, which supervises global nuclear commerce.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
