With equity and commodity exchanges allowed to enter each other's areas from October, brokerages are pump-priming their businesses to allow their clients seamless trading in commodities and equities.
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending.
India's economic growth slowed to 8.4 per cent in the second quarter of 2021-22, mainly due to waning low base effect, official data showed on Tuesday. The GDP growth in April-June quarter this fiscal stood at 20.1 per cent. The Indian economy had contracted by 24.4 per cent in April-June last year.
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
In a major move in 2016, the US had designated India a "Major Defence Partner" intending to elevate defence trade and technology sharing to a level commensurate with that of its closest allies and partners.
Mumbai is converting several of its iconic structures into quarantine facilities as it races to prepare for a predicted peaking of infections this month. With some projections suggesting the number of cases in Mumbai will touch 75,000 by the end of May, civic authorities are working overtime to add to the number of beds. There are around 7,500 hospital beds in the city. Another 5,000 have been identified in private hospitals. According to rough estimates, there are 750 ICU beds in Mumbai. As Mumbai races against time, here's some of the spots authorities have transformed in the fight against coronavirus.
7 million jobs will be created in formal sector in FY18
100-day agenda: Commerce ministry pushes for separate logistics department
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
Trump will pay a state visit to India on February 24 and 25 at the invitation of Prime Minister Narendra Modi, who on Wednesday said the US President's visit will be a 'very special one' and it will go a long way in further cementing India-USA friendship.
During the six-month period (April-September 2019), the Indian economy grew 4.8 per cent as against 7.5 per cent in the same period a year ago.
The CSO estimate is, however, a bit lower than 7.4 per cent growth projected by the Reserve Bank for the current fiscal.
The two leaders also took positive note of the growing bilateral cooperation in defence, counter-terrorism and energy, besides the co-ordination on regional and global issues, the officials said.
The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said.
The economy has shown sharp resilience in the past and has also bounced back in good time. We could hence expect a similar trajectory next year, observes Madan Sabnavis, chief economist, CARE Ratings.
Prime Minister Narendra Modi commissioned India's first indigenously designed and built aircraft carrier INS Vikrant in Kochi on Friday, that put India into a select league of countries with domestic capability to build such large war ships.
Globally, the estimated average financial loss from cyber incidents was $2.7 million, a 34-per cent increase over 2013.
The report cautioned that low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
Rahul Khullar's guiding credo was that a civil servant must never lose sight of his client: The little guy. The evil men are those who are decision-makers but abdicate their responsibility of taking decisions, leading people to lose confidence in public institutions.
NSE managing director and CEO Vikram Limaye on Wednesday said that he will not seek a second term at the stock exchange when his five-year term ends in July. This comes amid the National Stock Exchange (NSE) facing the regulatory probe in a case related to governance lapses at the bourse as well as in the co-location matter. "I have informed the board that I am not interested in pursuing a second term and will therefore not be applying and participating in the process that is underway. My tenure ends on July 16, 2022," Limaye said in a statement.
Earlier this year, Toyota Motor Corp was fined $1.2 billion for concealing problems related to sudden acceleration of some of its vehicles.
ndia has said it is ready to sign the global trade deal as early as next month if other WTO members agree to its demand for concessions on food subsidies.
Four Canadian ministers of Indian origin are traveling with Prime Minister Trudeau.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
The NCEAR has indicated some improvement in the fourth quarter of the current financial year.
New Delhi to push for services trade facilitation & food stockpiling.
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
To address the shortage of COVID-19 jabs in the country, the government is exploring the possibility of boosting production of vaccines, including identifying manufacturing sites for indigenously developed Covaxin outside India, sources said.
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
The US president alleged that China had been indulging in tremendous intellectual property theft worth hundreds of billions of dollars on a yearly basis.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
India's economy could prove to be the "most resilient" in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country's large market will continue to attract investments. The report titled 'Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021', and compiled by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), stated that inward FDI flows to South and South-West Asia slightly decreased by 2 per cent in 2019, from $67 billion in 2018 to $66 billion in 2019. The growth, however, was mainly driven by India, which accounted for 77 per cent of the total inflows to the subregion and received $51 billion in 2019, up 20 per cent from the previous year.
The crop is currently trading at Rs 22 a kg compared to Rs 12.50 one month ago.
Regaining the lost sheen, sales of gold jewellery and coins are set to touch pre-COVID levels in volume terms on the auspicious Dhanteras as easing pandemic concerns and pent up demand saw consumers flocking to stores to buy the precious metal. Increased footfall at stores and brisk sales online as well as relatively softer gold prices compared to record Rs 57,000 per 10 grams level in August spurred increased buying, especially light weight offerings, on Tuesday. Dhanteras is considered to be auspicious for buying precious metals and other valuable items.
