After two decades, the SCO appears to be at a cross-roads with the US withdrawal from Afghanistan, asserts Srikanth Kondapalli, the leading China expert.
The government should 'encourage infrastructure funding by mandating five or six institutions to create an infra bond market,' IMC President Gul Kripalani said in the action plan submitted to the prime minister. It wanted deregulation of the labour market to stimulate investment and employment. 'Encourage contract labour employment to enhance labour flexibility. Amend labour laws to provide flexibility in respect of entry and exit,' IMC said.
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.
Master of Social Entrepreneurship, a flagship programme of Deshpande Center for Social Entrepreneurship, is a two-year full time residential programme designed to enhance entrepreneurial mindset among youngsters and create business leaders for tomorrow.
Master of Social Entrepreneurship, a flagship programme of Deshpande Center for Social Entrepreneurship, is a two-year full time residential programme designed to enhance entrepreneurial mindset among youngsters and create business leaders for tomorrow.
Shortage of semiconductors, price hikes pull January auto sales into red. Dec had seen sales grow for 1st time this FY, which dealers called a one-off.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Delay due to rise in operating cost of telcos, late adoption of 4G network
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
Two years of the NDA government have instituted significant reforms, including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank.
Liquidity-starved sectors such as infrastructure and realty could be the biggest beneficiaries of the vote of confidence for the UPA.
Automobile dealers' body FADA on Tuesday expressed concern that the chip shortage issue could derail passenger vehicle (PV) retail sales during the festive season, as automakers are struggling with an adequate supply of vehicles to dealers due to production challenges. Terming semiconductor shortage as a "full-blown crisis", the industry body warned of a lacklustre festive season, especially for the passenger vehicle dealer fraternity, with low inventory levels and non-availability of the fast-moving model variants ahead of the peak festive period.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
What these elections prove beyond any doubt (if ever there was one) that Modi's hold over public mind and Shah's mastery of election management are unparalleled. It doesn't seem likely that they will be matched any time soon in the Indian political scene, reaffirms Shreekant Sambrani.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Reserve Bank Governor Shaktikanta Das on Thursday said the central bank's asset purchases, aimed at mitigating COVID-19-related liquidity stress in the system, did not dilute its balance sheet or compromise on core principles of central banking. In the wake of the pandemic, the RBI undertook several conventional and unconventional measures. "Unlike many central banks, the RBI's asset purchases did not dilute its balance sheet and hence, did not compromise on core principles of central banking," Das said while addressing an event organised by the Bombay Chamber of Commerce. These purchases were confined to risk-free sovereign (government) bonds including state government securities only, he said.
Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
Raghuram Rajan optimistic about passage of GST
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Shortage of ICU beds, oxygen, ventilators, vaccines, doctors, nurses and crematorium space in India has dominated headlines around the world in the past few weeks with Covid-19 cases surging beyond control and the government failing to deliver. Yes, election rallies, Kumbh Mela, blatant flouting of social distancing and mask protocols coupled with a messy vaccination process are said to be responsible for the health crisis of colossal proportions that India is facing today. But an analysis of Budget speeches made by finance ministers over 75 years also offers a glimpse of how low on the priority list healthcare has featured for the political class and policy-makers, which is a significant reason for the current situation.
Modi said that there was an immediate need to strengthen the WTO, fighting protectionism, ensuring energy security and work together to fight terrorism.
'What the government should do is to use the vaccine judiciously, not just to prevent a third wave alone, but to stop the number of deaths happening in the interim.'
Telecom, metal and healthcare came as dampeners.
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
While online coaching has become a big hit during the lockdown, the path ahead is not easy, reports Rupesh Dutta.
'With nearly double the market share of our nearest competitor, we are shaping the digital transformation journey of close to 1,000 clients in India.'
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
The country must get its act on global alliances right in order to feed its fuel-hungry economy, points out Subhomoy Bhattacharjee.
Observing that it is not yet clear to him what the government means by 'Atmanirbhar Bharat', Rajan said if it is about creating an environment for production, then it is a re-branding of the Make in India initiative.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
The 50-share NSE Nifty slipped below the 10,700-mark and finished at 10,679.65 -- down 38.40 points, or 0.36 per cent.
Navi Mumbai is emerging as the next big real estate location.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
To attract bidders, the government had decided to hive of around Rs 35,000 crore of the company's debt into a separate subsidiary, leaving around Rs 23,286 crore to be absorbed by the new bidder.
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