Equity benchmark Sensex slumped over 1,000 points to sink below the 55,000-level on Friday, tracking deep losses in IT, finance, banking and energy stocks amid widespread selling in the global markets. A weak rupee, surging crude prices and relentless foreign capital outflows further weighed on sentiment, traders said. The 30-share BSE index ended 1,016.84 points or 1.84 per cent lower at 54,303.44.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
'BJP loses a democratic election, then buys MLAs from the ruling party's flock and rides to power in these states.' 'Do you think Atalji would have tolerated this?'
Moody's Investors Service on Tuesday lowered India's GDP growth forecast for the 2020 calendar year to 5.3 per cent, on coronavirus implications on the economy. Moody's had in February projected a 5.4 per cent real GDP growth for India in 2020. This too was a downgrade from 6.6 per cent earlier forecast.
Thackeray made the statement at the inauguration of two wings of the annexe building at the Aurangabad bench of the Bombay high court.
Former West Bengal governor Jagdeep Dhankhar's subsequent elevation set a new benchmark for the actions of those who occupy Raj Bhavans, observes Aditi Phadnis.
A ceremonial procession is scheduled for Wednesday afternoon that will see the coffin travel in a gun carriage from Buckingham Palace to the Palace of Westminster, or the Houses of Parliament building.
Prime Minister Boris Johnson said the UK will hit Russia with a "first barrage' of economic sanctions, warning that President Vladimir Putin is fixed on a "full-scale invasion of Ukraine".
The North East is a sizeable success story for the Modi government politically and for the BJP electorally. It will be an unpleasant surprise if they choose to blow it, bowing to their basic, polarising instinct at any point, points out Shekhar Gupta.
King Charles III acceded to the throne immediately following the death of Elizabeth II on Thursday, and described losing his mother as "a moment of the greatest sadness for me and all members of my family".
Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
Facing criticism from the Congress, the government on Thursday moved the Supreme Court seeking a review of its order for premature release of six convicts in the Rajiv Gandhi assassination case.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
A statement from the finance ministry said, 'it shall be the policy of the Sri Lankan government to suspend normal debt servicing...shall apply to amounts of affected debts outstanding on April 12, 2022'.
India on Friday launched a no-holds-barred attack on Pakistan Foreign Minister Bilawal Bhutto-Zardari for his 'uncivilised' outburst against Prime Minister Narendra Modi and said the comments were a 'new low' even for that country.
The Delhi high court on Thursday reserved its judgment on a batch of petitions challenging the Centre's Agnipath scheme for recruitment in armed forces.
British freestyle skier Gus Kenworthy has urged the International Olympic Committee (IOC) not to allow countries that have "appalling human rights stances" to host the Games and questioned China's suitability to stage the 2022 Winter Olympics.
India is in the process of filing an appeal against an arbitration panel asking it to return $1.2 billion to British oil firm Cairn Energy Plc, sources said on Wednesday. If enforcement proceedings are initiated, India is confident to address them and will strongly defend its interests, the sources said, adding it is open to a constructive settlement of tax disputes within the existing legal framework. India is in the process of filing an appeal in the Cairn's arbitration award case, they said, adding in this case, it was well within India's sovereign powers to redress the situation of Double Non-Taxation and tax abuse. Cairn chief executive Simon Thomson had last month met the then finance secretary Ajay Bhushan Pandey to discuss the arbitration award.
I don't read anything into it until I see what their actions are, Biden told reporters.
Taking to Twitter, the ministry shared the intelligence update and said, 'Russian forces have continued their advance on Kyiv with the bulk of their forces now 30km from centre of the city.'
Policy decisions, particularly those which have wide-ranging implications on the nation's health and security, should be decided by bodies best suited to do so, the Delhi high court said on Monday while refusing to interfere with the Agnipath scheme.
The Delhi high court on Friday said it will first hear the pleas directly challenging the Centre's Agnipath scheme and then decide those concerning the recruitment processes for the armed forces under certain previous advertisements.
China's high-tech research vessel 'Yuan Wang 5' is on a 'mission of peace and friendship' and its docking at a Sri Lankan port will deepen bilateral relations in the field of space, science and technology, according to the controversial ship's captain.
Prime Minister Narendra Modi and other senior Bharatiya Janata Party leaders on Sunday paid homage to those who lost their lives during the Partition as the Congress accused the ruling party of using the traumatic events as a 'fodder' for its political battles.
London hopes to convince New Delhi's naval planners to power India's second indigenous aircraft carrier with the Queen Elizabeth's integrated all-electric propulsion system.
A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad granted two weeks' time to the petitioners to respond to the Centre's stand on the matter.
The central government has mandated all ministries, public departments and public sector units to use the telecom services of State-run Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL).
The rating agency, however, pointed out that India's fiscal position remains precarious, with elevated fiscal deficits and net government indebtedness.
The spokesperson also said that they are figuring out the logistics as to how the aircraft would be transferred from Poland to Ukraine.
The Asian Development Bank (ADB) on Wednesday slashed India's GDP growth forecast for FY23 to 7 per cent from the earlier estimate of 7.2 per cent mainly on account of higher inflation and a tight monetary policy. India's economy grew 13.5 per cent year-on-year in the first quarter of 2022-23, reflecting strong growth in services, ADB said in its second supplement to Asian Development Outlook Report 2022 (ADO 2022). "However, GDP growth is revised down from ADO 2022's forecasts to 7 per cent for FY2022 (ending March 2023) and 7.2 per cent for FY2023 (ending March 2024) as price pressures are expected to adversely impact domestic consumption, and sluggish global demand and elevated oil prices will likely be a drag on net exports," ADB said.
Law Minister Kiren Rijiju on Saturday claimed that a few retired judges and some activists who are 'part of the anti-India gang' are trying to make the Indian judiciary play the role of the opposition party.
"If the job profile is same, then how you justify different pay? A lot will depend on the job profile. Get instructions on this and put it on an affidavit," a bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad told Additional Solicitor General Aishwarya Bhati who was representing the Centre.
Assume that the rupee will trend lower over the next 10 years as India increases overseas sovereign exposures, and your long-term asset allocation should be geared to deal with this trend, suggests Devangshu Datta
Dr Mukul Hazarika, who is a general practitioner at County Durham, is sought by the Indian authorities to stand trial for conspiracy related to a banned terrorist organisation in India.
The comments come a year after the government tagged Bitcoins and other crypto-currencies illegal and following which the RBI banned trading on them.
"The Queen died peacefully at Balmoral this afternoon," Buckingham Palace announced in a statement on Thursday.
Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
The home minister said reference books should be written on these empires and if they are written, "the history which we believe wrong will gradually fade away and truth will emerge".
With the international markets facing uncertainty after Russia invaded Ukraine and Western nations retaliated with sanctions, Indian companies are putting their international fundraising plans on hold as they wait for the markets to recover. Bankers said apart from the geopolitical crisis, international rates are hardening in anticipation of interest rate hikes by the US Federal Reserve to control rising prices in the US. The Ukraine situation has implications for the market. In such a situation, international investors try to shift to safe haven assets by exiting from emerging markets.
