As part of a cost-cutting plan, the bank is now dismantling its stock broking, equity research, and equity listing desks worldwide.
India was being evaluated for a potential weight of around 1 per cent in the index, an allocation that could have translated into $25 billion of inflows, spread over roughly 10 months.
Under Usha and Narang, the National Olympic Academy will "collaborate" closely with the International Olympic Academy in Olympia, to "align India's Olympic education programmes with the Olympic Charter and international best practices."
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
In today's dynamic economic landscape, commerce and management education is crucial for a global career, says Nayagam PP.
These categories rank among India's top 10 export items by value.
'The strategic direction of the relationship will not be affected. But the perception has been affected.'
Indians have topped the number of illegal immigrants from Asian countries caught at land, sea, and air checkpoints of the US since 2022.
Adani Ports and Special Economic Zone will prepay $195 million of debt due in 2024 as the conglomerate helmed by Gautam Adani looks to boost investors' confidence post being targeted by a US short-seller. In a stock exchange filing, APSEZ said it will buy back $195 million of bonds due in 2024 using its cash reserves. Out of the $520 million principal outstanding, $325 million will be left after the buyback, it said.
Billionaire Gautam Adani's group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
Standard Chartered Private Equity Fund on Tuesday said it was carrying out due diligence for evaluating the stake before arriving at investment decision.\n\n
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
StanChart starts retrenching staff in India.
Standard Chartered on Friday lowered India's growth forecast for the current financial year to 4.7 per cent from earlier 5.5 per cent, citing "upside risks" to inflation and fiscal deficit.
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
This is part of an 'aggressive and decisive set of action' to shore up the company.
The country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. Per capita income/GDP has risen from $460 in fiscal 2001 to $1,413 in fiscal 2011 and further to $2,150 in fiscal 2021. The biggest growth driver will be external trade which may nearly double to $2.1 trillion by 2030 from $1.2 trillion in fiscal 2023 when the GDP printed in at $3.5 trillion, Standard Chartered Bank said in a weekend report which assumes a 10 per cent nominal GDP growth annually from now on.
Improvements in industrial activity and services sector mainly seems to have boosted GDP growth.
Adani Ports and Special Economic Zone (APSEZ) on Monday started the first debt buyback programme since billionaire Gautam Adani's conglomerate was targeted by a US short-seller in January. APSEZ floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, it said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable. Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.
Gerard Lyons, chief economist and group head of research, Standard Chartered Bank, says that much will depend on monetary and fiscal policies undertaken.
Economies the world over are facing different sets of challenges.
With a view to tame the inflation -- 8.66 per cent in April -- the RBI has increased its key rates eight consecutive times over the past 12 months, the last being the higher-than-expected 50 bps hike on May 3.
Captive centres set up by multinational corporations in India are posing a serious threat to the domestic outsourcing companies.
India is set to emerge as the world's third largest economy by 2030.
In the final part of this five part series on top 25 mutual funds analysed by Value Research we produce the last best five mutual funds that investors can put their money in for the long term.
SAS, global leaders in business intelligence solutions, on Friday announced setting up of its largest research and development centre in Pune, as it expects the Indian market to grow by 27 per cent and generate $87.4 billion worth business by 2009.
As inflation rate is near the upper limit of the comfort zone, experts rule out rate cuts anytime soon
After two years of a record low interest-rate regime, Indian corporate houses are experiencing a sharp and abrupt increase in funding costs. With the Reserve Bank of India last month making an unequivocal turn towards policy tightening amid high inflation, firms looking to tap the capital markets for funds are ending up shelling out more. The yield on the benchmark triple-A-rated corporate bonds maturing in three years has climbed 98 basis points (bps) since the policy rate hike in May. It was last at 7.47 per cent, Bloomberg data showed.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
Auditor Deloitte flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
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