Those interested in investing in gold have shifted to instruments, such as sovereign gold bonds and gold ETFs. Many others are, in fact, selling gold or using it as collateral to generate short-term liquidity.
Modi, who met Putin last week on the sidelines of the 22nd meeting of the Shanghai Cooperation Organization in Uzbekistan's Samarkand, had told the Russian leader that "today's era is not of war".
The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
Byju's is set to promote its chief operating officer (COO) Mrinal Mohit to a bigger role, including leading the India operations, according to people familiar with the matter. This is because Byju Raveendran, founder and chief executive officer (CEO) of the edtech giant - which is valued at $22 billion - is planning to focus on global expansion and acquisitions. Among the global regions, Raveendran may look at markets such as the US and the Middle East.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
US hedge fund Tiger Global and Japanese investment giant SoftBank have trimmed their investments in Indian start-ups by over a third - from $3.8 billion in the second half of 2021 to a mere $1.08 billion in H1 2022, according to data from Venture Intelligence. While SoftBank's investments in India dropped from $1.9 billion in H2 2021 by more than a fifth to only $0.33 billion in H1 2022, that of Tiger Global fell from $1.92 to $0.74 billion in the same period. Private equity (PE) fund trackers point out that this year most of the deals that Tiger Global has invested in are in the early stage (up to series D), and only a few are in the series E and above.
The chairman of the JSW Group of companies, Sajjan Jindal, whose stake in the group is valued at $14.5 billion (Rs 1.1 trillion), is betting $4.5 billion of his personal fortune in the firm's bid for Ambuja Cements. According to bankers, Jindal's contribution will be a combination of share sale and debts raised by pledging the stake of the target entities with private equities. The JSW Group chairman has offered $7 billion for Ambuja Cements, including $2.5 billion of investments from private equities, the Financial Times reported on Tuesday.
The high court's observation came while hearing the bail plea of Khalid who has challenged a trial court's March 24 order dismissing his bail application in the case.
Walmart-owned Flipkart will undertake a buyback employee stock options worth about Rs 600 crore, according to sources Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer Kalyan Krishnamurthy lauded the critical role played by the staff in reaching this milestone.
'It will be wrong to raise the expectations of tribals because of a tribal President. 'Tribal issues have not been resolved for 150 years.'
After the scheme was unveiled, protests erupted in several states against the scheme.
Institutional investments in real estate may fall 20 per cent to $4 billion during this calendar year because of a higher inflow of funds in 2020, according to property consultant JLL India. During the January-September period, the institutional investment rose to $2,977 million from $1,534 million in the year-ago period. "Unless some large portfolio deals are not inked at the end of the year, annual investments are expected to be in the $3.8-4 billion range in 2021," JLL said in a statement. Institutional investments managed to cross the $5 billion mark in 2020 due to large portfolio deals worth $3.2 billion during the last quarter of the year.
Fitch Ratings has cut India's economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India's 'BBB-/Negative' sovereign rating "balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors". The 'Negative' outlook, it said, reflects uncertainty over the debt trajectory following the sharp deterioration in India's public finances due to the pandemic shock.
The rumblings of discontent from Righteous Europe over Qatar's admittedly appalling human rights record can only be viewed as deeply disingenuous and phoney, argues Kanika Datta.
These self-appointed well-wishers of AMU are basically for the control or police model of university governance. They have no faith whatsoever in the democratic functioning of the universities, observes Faizan Mustafa, former dean, Faculty of Law, and Registrar, Aligarh Muslim University.
Despite its recent underperformance, gold must be a part of your portfolio.
Tata Consultancy Services (TCS) has bagged -- from the Ministry of External Affairs -- the contract for delivering electronic passports (e-passports), according to sources. This deal is in addition to the second phase of implementing the Passport Seva Program, which the company got from the ministry. Players such as Thales India and HP participated in this deal, which is expected to be of Rs 1,000-1,200 crore.
'The war of 1962 exposed the hollow intellectual foundations of Nehruvian foreign policy, especially vis-a-vis China and that is why it was such a shock.'
Modi on the global stage always comes across as a statesman, counselling peace and amity to world leaders even as his policies at home hurt certain sections, explains Virendra Kapoor.
The value of foreign portfolio investors' (FPI) holdings in domestic equities reached $654 billion in three months ended December 2021, a drop of nearly 2 per cent from the preceding quarter, according to a Morningstar report. This was largely on the back of a massive sell-off by foreign investors and a correction in the Indian equity markets, especially in the large and mid-cap sectors. "At the end of the quarter ended December 2021, the value of FPI investments in Indian equities fell to $654 billion, which was lower than $667 billion recorded in the previous quarter, a fall of around 2 per cent," the report noted.
The negative outlook reflects dominant, mutually-reinforcing, downside risks from deeper stresses in the economy and financial system that could lead to a more severe and prolonged erosion in fiscal strength than Moody's currently projects, the agency said.
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
Quoting Shakespeare, he noted: "As Shakespeare said of the earlier Queen Elizabeth, she was a pattern to all princes living."
Ofcom ruled that it did not consider RT's licensee, ANO TV Novosti, 'fit and proper' to hold a UK broadcast licence.
The decision to grant 10 per cent EWS quota in admissions will not impact the availability of seats for the general and reserved categories as 2,13,766 additional seats will be added to those already existing in higher educational institutions, the Centre Tuesday told the Supreme Court while defending the 103rd constitution amendment.
Another extension for General Bajwa in office at this juncture looks unlikely at this juncture, observes Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
It is going to be a long-term proposition for India -- which has a decades-old relationship with Moscow -- to reorient its foreign policy away from Russia, the US has said, insisting that re-aligning one's approach is not like flipping a light switch.
The US president and the first lady laid a wreath and paid floral tributes at Rajghat.
The state funeral on Monday will take the form of an elaborate ceremony that will see Her Majesty's coffin transported from Westminster Hall to Westminster Abbey and finally to Windsor Castle.
If you pledge market-linked instruments and their value plummets, you will have to provide additional collateral, points out Sanjay Kumar Singh.
Highlights of Economic Survey 2020-21, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.
Riled by Sri Lanka's request to defer the planned docking of a high-tech Chinese research vessel at the strategic Hambantota Port, China on Monday took a dig at India, saying it was "senseless to pressure" Colombo by citing the issue of security concerns.
The remarks of Maryam came after Khan called India a "nation with a great sense of honour".
India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for Rs 10,247 crore in back taxes from Cairn Energy Plc -- the second time in three months that it has refused to accept an international award against retrospective tax.
Union Home Minister Amit Shah on Thursday said the Bharatiya Janata Party is committed to bring Uniform Civil Code (UCC) in the country but only after following all democratic processes and discussions on it.
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.
Russia should not be allowed to host soccer events such as the Champions League final
India's largest cement firm, Ultratech Cement, has joined the race to acquire the Holcim stake in Ambuja Cements and its subsidiary, ACC. UltraTech - part of the Aditya Birla Group - submitted a non-binding bid on Wednesday. Swiss multinational Holcim, which manufactures building material, is exiting India by selling its 63.19% stake in Ambuja Cements. According to banking sources, UltraTech has submitted a plan to Holcim, outlining divestiture details that would meet the norms set by anti-trust body Competition Commission of India.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
