Prime Minister Yousuf Raza Gilani today accused the world of "double standards" in dealing with the Mumbai attacks and terrorist incidents in Pakistan, saying there was no need for the international community to make "so much noise" about the strike in India's financial hub.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
He also said the city had a long way to go before it could reach the status of a global city, and said that greater autonomy and better governance of the city would ensure the global city status, says the finance minister.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Japan's Sumitomo Realty & Development Company will buy a 22-acre land parcel in central Mumbai from Bombay Dyeing for Rs 5,200 crore, the Wadias-run company said on Wednesday. The sale of the land parcel in Worli is one of the biggest land sale transactions in the history of the financial capital.
'When the gold price rises rapidly, India's physical gold market remains on standby.'
China's debt is dangerously high at close to three times its GDP, with the ratio having nearly doubled in recent years, observes T N Ninan.
Agency sources said it is a major operation in which agencies of China, Romania and the US are jointly acting along with CBI against cyber criminals in these countries who were allegedly hacking into websites based in the US and duping people financially.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
'Adani can attract vessels at a much lower cost to Vizhinjam as he has the financial muscle to do so.'
Fadnavis is the local remote control, but the ultimate remote control is in the hands of the BJP leadership in Delhi, observe Sunil Gatade and Venkatesh Kesari.
Echoing similar views, CII too said the Prime Minister has given high importance to manufacturing and investment.
'With Ramaland, the tourism department is looking to attract children and adults alike. It'll be learning with entertainment.'
This is also because Johnson's visit will follow at the end of Modi's three-day visit to Gujarat for inaugurating projects, reports Vinay Umarji.
'Although mid- and small-cap funds have the potential for higher growth, they come with inherent higher volatility.'
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
In Federal Court papers filed this month and reviewed by Reuters, Tendulkar said Sydney-based Spartan Sports International agreed in 2016 to pay him at least $1 million a year to use his image, logo and promotional services to sell "Sachin by Spartan" sporting goods and clothing.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
The NIA had registered three cases last year following information suggesting that terrorist outfits and their sympathisers abroad were operating as members of organised criminal gangs active in the northern states of India for targeted killings and violent criminal acts.
After launching expressway projects worth almost Rs 1 trillion, the Uttar Pradesh government is now betting big on the aviation sector to propel the state's economic growth. Air travel, comprising both business and leisure, is expected to give a fillip to the socioeconomic landscape by attracting fresh investment. It would also ramp up infrastructure and create jobs.
The markets regulator made it easier for banks to acquire control in listed companies.
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.
The future certainly looks good for Bangalore.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
The India personal computer (PC) market shipment, inclusive of desktops, notebooks, and workstations, dropped by an overall 30.1 per cent in the first quarter of CY2023 over the previous year, to only 2.99 million units, according to the latest data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker released on Tuesday. In Q1CY23, while the demand for desktops was positive, the notebook category witnessed another weak quarter as it declined by 40.8 per cent year-on-year (y-o-y). The consumer segment declined by 36.1 per cent y-o-y primarily due to slowing demand and weak market sentiment.
'Career paths are no longer linear as professionals look to build a more holistic career portfolio that is true to their professional and financial goals.'
Security at the airports across the country has been tightened following a terrorist attack on Pakistan's largest airport in Karachi in which at least 28 people, including 10 terrorists, were killed.
Prime Minister Narendra Modi has said that India's economic growth is a 'natural by-product' of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with 'corruption, casteism and communalism' having no place in our national life.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
The new law permits for the first time Chinese security agencies to open their establishments and operate in Hong Kong.
So far, GMTS has defaulted on the supply of more than 20 cargoes or shiploads, 13 of which were set to be received in the second quarter (July-September), officials said.
Pakistan airline authorities fear that the terrorist attacks on Karachi airport terminal building could negatively impact the flow of international air traffic at the Jinnah international airport in Karachi.
The seventh anniversary of the 26/11 Mumbai terror attacks, which had claimed lives of 166 people and left hundreds injured, would be observed on Thursday.
Shah will have the responsibility of heading ICC's most important committee. Al the major financial policy decisions are taken by the F&CA committee before it is ratified by the ICC board
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
Of the 22 planes it operated, 16 were on the domestic routes and the rest were deployed in the international routes.
India will encourage greater investments in Sri Lanka's economy, especially in areas of energy, tourism and infrastructure, External Affairs Minister S Jaishankar said on Friday, as he expressed India's solidarity with the debt-ridden Island nation during its "difficult moments".
Most of the local residents expressed fear that redevelopment will kill the small businesses in Dharavi that it is known for and that they are content with the way things are at present.
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