Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
The depreciation in rupee may pose a problem for students who have taken loans from Indian lenders.
Pakistan's new Prime Minister Shehbaz Sharif and Russian President Vladimir Putin have quietly exchanged letters to strengthen bilateral relations, a media report said on Sunday, amidst allegations by Imran Khan that his maiden visit to Moscow, much against Washington's wishes, led to his ouster.
The overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, were on Friday hiked by a steep 40 per cent to record levels, in step with global firming up of energy rates. The rate paid for gas produced from old fields, which make up for about two-thirds of all gas produced in the country, was hiked to $8.57 per million British thermal units from the current $6.1, according to an order from the oil ministry's Petroleum Planning and Analysis Cell (PPAC). Simultaneously, the price of gas from difficult and newer fields like the ones in Reliance Industries Ltd and its partner bp plc operated deepsea D6 block in KG basin, was hiked to $12.6 per mmBtu from $9.92, the order said.
'The RSS ideology has been borrowed from fascism and is not borne out of Hinduism.' 'They want India to have one historical identity whereas India is a land full of divergence which goes in every direction.'
'The MEA, hopefully, made it clear that the Indian PM can't be seen in Xi Jinping's company when China has, for all intents and purposes, annexed over 1,000 sq kms of Indian territory in eastern Ladakh, and essentially that the Wuhan spirit and the Mamallapuram spirit have turned into vinegar.'
During an interactive session at the 'Ideas for India' conference in London on Friday, Gandhi not only mounted a scathing attack on the Bharatiya Janata Party government but also extended an olive branch to regional parties who he had angered with his comment that they were not capable of taking on the saffron party for want of ideology.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
The banking sector in the country is stable, capital is available and credit offtake is poised to take off, he said at a webinar organised by Bharat Chamber of Commerce. "We are not unique to the phenomenon of uncertain growth and high inflation due to the pandemic.
China and India should put their differences on the border issue at a "proper position" in bilateral relations and stick to the "right direction" of bilateral ties, Chinese Foreign Minister Wang Yi said on Friday.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Opposition leaders urged Modi to use the opportunity for the country's benefit.
With its political colour dominated by less than democratic trends, BRICS currently leaves some of us wondering -- where in this grouping is there an assurance that human freedom will be respected unconditionally? It would be nice to see the new members of BRICS drawn from the ranks of countries wedded to preserving and guarding human freedom, observes Shyam G Menon.
Prices of natural gas, which is used to generate electricity, make fertiliser and is converted into CNG to run automobiles, is likely to rise to record levels at the rate review scheduled this week, sources said. The government-dictated price for natural gas produced in the country is to be revised on October 1. After factoring in the spike in energy prices witnessed in recent months, the rate paid for gas produced from old fields such as of state-owned Oil and Natural Gas Corporation (ONGC) is likely to rise to $9 per million British thermal units from current $6.1.
India has so many relationships, such an ability to communicate and find touch points with different countries and regions.
IMAGES from the English Premier League matches played on Saturday
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
Images from Day 2 of the 2023 Australian Open at Melbourne Park on Tuesday.
'We have delivered a bitter medicine. It will take time to work.'
The football world gathered in the Qatari capital on Friday as the draw ceremony for the World Cup finals got under way with music and dance.
Every time we look at the Congress, its future, strengths, weaknesses, opportunities and threats, we find the situation more hopeless than even a few months earlier, observes Shekhar Gupta.
A look at the last 16 team as Euro 2020 enters the knockout phase.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
The victory came for the Indian maestro after three straight draws in rounds 10, 11 and 12
Saudi Arabia said this month it had executed 81 men, including seven Yemenis and one Syrian.
The government has hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal. The duty changes came into effect on June 30. Earlier, the basic customs duty on gold was 7.5 per cent, now it will be 12.5 per cent.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Chinese and Russian warplanes on Tuesday conducted joint air patrols over the Sea of Japan, the East China Sea and the West Pacific Ocean as the leaders of Quad held their in-person summit in Tokyo, in an apparent attempt to send a message of unity between Beijing and Moscow.
Visa delays have perturbed Indian visitors this summer. But a solution could be in sight soon, as embassies gear up to address the challenges caused by a spike in applications and staff shortages. While the British High Commission has said it is working urgently to reduce the current visa processing time, the German Embassy has introduced extra shifts to process more visas. However, appointments with the latter are fully booked till August-end due to high volumes.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
'The minimum holding period for equities should be three years.' 'Try goal-based investing.' 'Link your equity portfolios to specific goals such as retirement, purchase of a house or car...'
Modi invoked the epics of Ramayana and Mahabharata to assert that it is in Indian tradition to avoid war be it in Lanka or Kurukshetra and the country stands for world peace.
India's crude oil import bill is set to exceed $100 billion in the current fiscal year ending March 31, almost double its spending last year, as international oil prices trade at seven-year highs. India spent $94.3 billion in the first 10 months (April-January) of the ongoing financial year that started April 1, 2021, according to data from the oil ministry's Petroleum Planning & Analysis Cell (PPAC). It spent $11.6 billion in January alone when oil prices had started to surge.
'RBI is already late in addressing inflation pressures.'
Size matters on the road. Small is not dominating India's car market any more. The share of cars priced up to Rs 5 lakh in the passenger vehicle market has fallen to 10.5 per cent in the first 11 months of 2021-22, compared with 26 per cent in 2018-19 (FY19), the lowest in four years, according to data from industry sources. Even the share of those in the price range between Rs 5 lakh and Rs 7.5 lakh has dropped to 32.4 per cent in the same period, from 34.9 per cent.
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
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