Ivan Manuel Menezes, the India-born CEO of the world's biggest spirits company Diageo, died on Wednesday, days after being hospitalised for treatment of stomach ulcer. Menezes, 64, who was to retire at the end of this month, died in London, the company said. "It is with great sadness that Diageo announces that Sir Ivan Menezes has passed away following a brief illness, with his family at his side," it said in a statement. Diageo had on Monday announced that CEO-designate Debra Crew will assume the top role on an interim basis immediately as Menezes undergoes medical treatment.
Strong currency and sagging oil prices are spooking policymakers.
However, the RBI is still not in a mood to issue an OMO calendar, which was the expectation in some sections of the market.
'I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.'
Without naming Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.
The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. "One working group has been set up which is going to review... One of the suggestions is that if any scheme or fund is performing well above the benchmark, it (fee) can be linked to its performance.
Congress leader Vaibhav Walia said Rawat's remarks were not just an insult to the father of the nation but also an insult to the country.
Former England skipper Michael Atherton said that despite ICC's profit-sharing model being flawed, it wouldn't face any pushback.
The application, filed through advocate AP Singh, said, "The Acts were passed hastily without adequate discussion... Inherent weaknesses of the agricultural sector cannot be addressed by way of monetization of farmers."
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
Markets could slide again owing to conditions in Europe and the US.
The market has zoomed to new highs for calendar 2017.
Investors will keenly watch out for the Futures & Options expiry for July on Thursday
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
At Lasalgaon mandi, Asia's largest onion selling market, the onion price jumped Rs 1.50 a kg to Rs 32 a kg, the highest since January last year.
'The decision to supply free food grains is not an economically sound decision because the government will find it very difficult in future to charge anything for food grains.'
The second half of June could be driven more or less by technical factors triggered by news flow from Greece, the US Federal Reserve and the monsoon. The technical picture seems bearish as of now, says Devangshu Datta.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
It has decided not to levy the 2 per cent tax deducted at source (TDS) on cash payments above Rs 1 crore made through Agricultural Produce Market Committees.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
There's a lot more to the festival than just five days of celebration; that is something you can only experience when you live in Kolkata. And that's what every Bengali living outside the state misses, notes Chitrangada Datta Chaudhuri.
The government will unveil the Consumer Price Index data and the Wholesale Price Index data for August on Monday.
India is the UK's second-largest market by volumes for Scotch, importing the equivalent of 136 million bottles, worth £146.2 million, in 2021.
IOC hate the idea of a boycott of the biggest money-spinner in world sport.
BRS spokesperson Sravan Dasoju, speaking to PTI, expressed confidence KCR would win from both the constituencies with a thumping majority.
Releasing the manifesto titled 'Badlav Ka Sankalp' (commitment to change) in the presence of All India Congress Committee (AICC) general secretary Randeep Singh Surjewala and other Mahagathbandhan leaders, Tejashwi Yadav said their government, if elected, would first approve the process for appointments on about 10 lakh jobs in the government.
The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
Analysts are divided on their retail price inflation forecast, with some saying the first quarter numbers will overshoot the RBI target by as much as 60 bps while others are softer in their estimate. Consumer price inflation retreated from its 15-month peak of 7.4 per cent in July to 6.8 per cent in August, much lower than the market expectations, despite vegetable prices remaining elevated at 26.1 per cent. Food inflation eased to 9.9 per cent from 11.5 per cent, led by some cooling of inflation in vegetables, cereals, pulses and milk.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
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.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
On October 25, the government issued an ordinance on the denotification. Earlier, in July 2016, it had denotified fruits and vegetables, thereby allowing farmers to sell these to buyers within or outside APMC yards, as they chose
The Reserve Bank of India (RBI) on Friday hiked repo rate by 50 basis points to 5.90 per cent in order to control the rising inflation, keeping in line with the aggressive policies of central banks and the volatile markets prevalent across economies. RBI Governor Shaktikanta Das announced the rate hike today. In the meeting of the Monetary Policy Committee (MPC) that started on Wednesday, five of the members of the MPC voted to hike the key lending rate, repo rate, by 50-basis points (bps).
The Centre has constituted a five-member expert committee to study various alternatives available to it to decide on a new capital for Andhra Pradesh.
Over the past week, the Sensex and the Nifty continued the bull-run
The Adani stock price saga will pass into public memory as one of those matters that simply escaped being nailed down, perhaps because too many vested interests were involved, notes Debashis Basu.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
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