Month-end dollar demand from importers resulted in the rupee touching a new all-time low on Wednesday against the dollar.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
The 42-year-old is holding a solid 55 per cent lead with the Oddschecker betting odds aggregator, followed by a 29 per cent chance of former prime minister Boris Johnson making a comeback. Third placed in what is emerging as a three-way contest is Leader of the Commons Penny Mordaunt, who had polled third in the first round of parliamentary votes to shortlist candidates for the last leadership race.
They suggest that this method could be applied to help identify warning signs in search data before a range of real world events
India will need to travel back in time and seek inspiration from football greats Tulsidas Balaram and Chuni Goswami to deftly dribble around and sidestep the West-imposed price cap on exports of Russian seaborne crude oil. India depends on imported oil to meet 86 per cent of its needs, of which nearly a quarter now comes from Russia. The copious flows are roughly 10 per cent cheaper than competing suppliers helping India save billions of dollars in fuel costs.
Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday. It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property bears the address: 32 Avenue FOCH in France.
India remains an attractive destination for foreign direct investments (FDI) on account of healthy prospects of economic growth and its skilled workforce, according to a survey by Deloitte. A large proportion of international business leaders remain confident in India's short- and long-term prospects and are readying plans to make additional and first-time investments in the country, it said on Tuesday. "The survey, which questioned 1,200 business leaders of multinational corporations in the US, UK, Japan and Singapore, found that India remains an attractive destination for investments, scoring highly for its skilled workforce and prospects for economic growth," the survey - India's FDI Opportunity - said.
Benchmark indices finished higher on hopes of economic reforms
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
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.
China, at 28, remains by far the most competitive of this group.
Aseem Chhabra presents his list of 10 international films that mattered to him, stories that he connected with and characters that gave him a better understanding of the human condition.
European Union steel prices hit their lowest since 2004
The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation, industry sources said. India on July 1 joined a select league of nations globally that have taxed windfall gains accruing to oil companies from soaring energy prices. The government slapped a Rs 6 per litre tax on the export of petrol and jet fuel (ATF) and Rs 13 a litre on the export of diesel effective July 1. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
After raising Rs 10 crore in seed funding last week from investors like Paytm founder Vijay Shekhar Sharma, Freshworks founder Girish Mathrabootham and Silicon Valley based venture capitalist firm Hourglass Venture, Chennai-based social media startup Pepul told Business Standard that it is looking to raise around Rs 200 crore by June this year for expansion. The social media platform, focused on online ethical practices, will be launched by 1,000 entrepreneurs across the country on January 26. Pepul, founded by G Suresh Kumar, will be using an Aadhaar-based user verification system to get rid of fake accounts on its platform. "We are planning to raise around Rs 200 crore by June this year.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
The Securities and Exchange Board of India (Sebi) has mulled introduction of confidential initial public offering (IPO) filings and "pre-filing" of offer documents, a move aimed at giving issuers flexibility and alleviating concerns around privacy. Industry players said the concept, if implemented, would give a fillip to the domestic capital markets, ease the process and encourage more companies to go public. To be sure, the proposals are still at a discussion stage with Sebi just floating a consultation paper seeking public feedback.
The expert committee sought more information from Serum Institute regarding the Oxford-AstraZeneca vaccine.
The stock plummeted after the the New York state in the US on Monday night threatened to revoke its licence and charged it of $250 billion worth secret transactions with Iran.
Overcoming its initial concerns, national reinsurer GIC Re has contributed to the formation of an insurance pool to cover most imports from Russia. While it will be called the fertiliser pool with a corpus of Rs 500 crore, it can be used to cover the risks of oil and gas imports too. This was decided by a clutch of Indian insurance companies, led by the state-owned ones. GIC Re's share is about 40 per cent in the pool. Last month, GIC Re had shot off a letter to all non-life insurance companies that underwrite marine risks not to ask it for reinsurance of cargoes that originate from Russia.
An Action Hero's oil and water combination of genres doesn't always gel, gets overly far-fetched in places but still holds up on the strength of whimsy and surprise, notes Sukanya Verma. An Action Hero Review.
'Where you change the law and then say, we are following the law.' 'The fact is, the law is not meeting any international standards.' 'How can you call UAPA or PMLA a law when you are guilty until proven innocent?'
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
Sebi has asked stock exchanges and other market participants to remain watchful of funds and entities with Iranian links, as the global inter-governmental agency FATF continues to classify Iran as one of the 'high-risk and non-cooperative jurisdictions' with respect to money laundering and terror financing activities.
'There were two options before the government -- create a complex, cumbersome law, which will cause a tremendous amount of compliance challenges for startups or say let's go back and do a clean slate, where we do a framework of laws and policies'
Gains were led by index heavyweights Reliance Industries and Infosys.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
"In principle, the ask in return is that India should not support the G7 (Group of Seven) proposal. "A decision on this issue will be taken later following talks with all the partners," an official with the Ministry of External Affairs (MEA) said.These "substantial discounts" will be steeper than those offered by Iraq in the past two months, officials said.
Bengaluru has emerged as the world's fastest-growing mature tech ecosystem in the world since 2016, followed by the European cities of London, Munich, Berlin and Paris, with India's financial centre of Mumbai in sixth place, according to new research released in London on Thursday.
Among other stocks, IT firm Mphasis today reported a 15.30% increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015.
'Investing in the stocks of holdcos can be a very efficient and inexpensive way of gaining exposure to the stocks of India's reputable growing business houses.'
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
An "emotional" British Prime Minister David Cameron on Tuesday chaired his last cabinet meeting before handing over the baton to Theresa May who will assume charge on Wednesday, becoming the United Kingdom's second woman premier after Margaret Thatcher.
The Serum Institute of India has stockpiled 40 mn-50 mn doses and is adding more every week. Most of these will come to India.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
The Hinduja Group, in partnership with a Spanish industrial company, has acquired UK's iconic Old War Office building that was once occupied by the country's war-time Prime Minister Winston Churchill.
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
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