Remittance into India from foreign countries has already seen a jump of 25% in the last two months
If there was one event that made the month of August stand out, it was a strengthening of the dollar index to levels last seen only 20 years ago, as the Federal Reserve dispelled all doubts about its intention to continue raising interest rates. Predictably, most currencies suffered against the US unit, with the bulk of the losers belonging to the emerging markets pack. Amid the volatility, the rupee, however, has displayed significant resilience and fared much better than most of its peer currencies.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
After a delay due to COVID and a postponement for another year, the Asia Cup 2022, hosted by Sri Lanka but played in the UAE due to the political and social turmoil in the island, finally kicked off on August 27.
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
Maninder Singh, the talented left-arm spinner, was taken to cleaners with utter disdain, but he never faced public wrath.
The Shahbaz Sharif family (his two wives and their children) invested PkRs 277 crore in 13 companies without having known sources of income.
IPL 2021 had many moments that made the tournament more special and fans asking for more.
Modi is the first foreign leader to be invited to the palace by the Crown Prince, who appreciated the role played by Indian workers in the development of UAE as a modern nation, ministry of external affairs spokesperson Raveesh Kumar tweeted.
External affairs minister S Jaishankar on Tuesday discussed issues relating to Afghanistan and the Indo-Pacific during his bilateral meetings with global counterparts on the sidelines of the annual high-level UN General Assembly session.
Licence winners are expected to be announced by the first quarter of 2014.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
The Biden administration is quietly pressing Pakistan to cooperate on combating dreaded terrorist groups such as the ISIS-K and Al Qaeda following the Taliban takeover of Afghanistan, according to a set of leaked documents and diplomatic cables to a prominent US media outlet.
The prime minister's visit will begin from Palestine on February 10 after transiting through Jordan, where he will meet King Abdullah II.
Krrish, Ravi enter semis of Asian Youth & Junior Boxing Championships
Walee Bukhatir and Mazhar Khan, the men who drive cricket in the UAE, tell Harish Kotian/Rediff.com what the game is missing by India and Pakistan not playing at the Sharjah Cricket Stadium.
Images and a round-up of all the World Cup qualifiers played across continents on Tuesday.
Indian football hero of '80s, Chibuzor dies
What could be more uncertain than Virat Kohli's agonising wait for a century for over two years? Perhaps it's what you will pay tomorrow morning to fill your vehicle's tank. Pump prices have joined cricket scores as the country's favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different.
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The RBI has accepted the application withdrawal request, according to the statement.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
Australia's limited-overs captain Aaron Finch wants the home team players to strike a fine balance when they confront Virat Kohli in the opening Test as he believes, if provoked too much, the India skipper can be ruthless against his opponents.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
Abu Dhabi is no longer exclusive hub for Jet, Etihad won't recommend candidates for Jet management.
BSE proposes two models for making gold trading and investment transparent
Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
'With just 2.4 per cent of global landmass, India houses six to eight per cent of planetary biodiversity and hence is a prime target of wildlife criminals.'
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
In a circular, Sebi said QFI would now mean a resident in a country that is a member of the Financial Action Task Force or a member of a group which is a member of FATF.
A 42-year-old flight attendant and a 47-year-old cabin services supervisor -- both unidentified -- of Emirates Airline were convicted of "coercion to commit sin" after sending each other sexually-themed SMS messages, the National newspaper reported court documents as saying.
Sri Lanka were finally able to pose a challenge to India in the first Test after being hammered in the home series and that, according to chief coach Nic Pothas, was a huge positive.
While Indians are increasingly using mobile platforms and technology for various financial transactions and purchases like bill payments, ticket bookings, entertainment, travel and banking transactions, cross border mobile remittance is yet to see the light of the day.
'We don't want the year 2020 to finish without an IPL. Our first priority is India and even if we get 35 to 40 days, we will host it. But we don't know where'
As part of the service, UAE-based Indian immigrants can transfer money to their families based in India and the service would complement existing remittance channels and make transferring money internationally more affordable, Tata Communications said in a filing to the Bombay Stock Exchange. In the first phase, this service would be extended to over 27 lakh subscriber base of mobile services operator Idea Cellular in Kerala.
Opening up India's market to neighbouring countries can be as strategic as access denial to others. The game should be played both ways, even if it upsets domestic business lobbies, observes T N Ninan.
'Rawalpindi must downsize its quest for 'strategic depth' in Afghanistan and Kashmir,' suggests Matein Khalid.
In recognition of the award for Sharma, the Asia Society said the officer "has led the investigation and prosecution of several high-profile crimes in India, including the infamous Delhi gang rape case that earlier this year turned into a television series. She has transformed police work and the roles of policewomen in India."
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
National Disaster Management Authority had in 2016 suggested assistance offered as a goodwill gesture 'may' be accepted.
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