Gold exchange traded funds (ETFs) witnessed a net outflow of Rs 199 crore in January, making it the third monthly withdrawal in a row, with investors preferring equities over other segments on buoyant record SIP flow. This was in comparison to a net outflow of Rs 273 crore registered in the segment in December and Rs 195 crore in November. Prior to that, Gold ETFs attracted Rs 147 crore in October, data with Association of Mutual Funds in India (Amfi) showed.
The fate of the ministerial conference was sealed after assistant US trade representative Sharon Bomer Lauritsen said permanent solution to the food stockholding issue was not acceptable to America.
'I hope more shows highlight the unsung heroes of our rich history.' 'As for bringing the trophy home, a man can hope, but truly I am just excited to be there.'
A group of lenders to educational technology (edtech) giant Byju's has told the firm that they're open to negotiations with the company to resolve litigation and other disputes, according to people familiar with the matter. However, they have told Byju's that they will not engage in the firm's proposal for one-on-one meetings, according to sources. Byju's recently filed a suit against US-based investment management firm Redwood to challenge the acceleration of the $1.2-billion Term Loan B (TLB) facility, and disqualify the lender for its "predatory tactics".
India's upcoming presidency of the G20 grouping is a matter of pride and a great opportunity for the country in its 75th year of Independence, Prime Minister Narendra Modi said on Tuesday. Modi made the remarks after unveiling the logo, theme and website of India's G20 presidency during an online event. India will assume the presidency of the powerful grouping from the current chair Indonesia on December 1.
Prakash Khatri, who created history when he was appointed the first-ever Ombudsman of the US Citizenship and Immigration Services of the Department of Homeland Security tendered his resignation, effective February 29.
The United States has offered to cut its agricultural subsidies by 60 per cent over a period of next five years as demanded by the G-20 developing nations and Britain in its bid to revive the Doha round of trade talks.
The provisions of the border security bill, which allows massive increase in the fees on categories of H-1B and L1 visas, is discriminatory against the Indian companies, India has said and asked the United States to amend it.
He also said that it is more than a relationship between the two countries.
The pilot project for central bank digital currency (CBDC) in the retail segment went live on Thursday with the Reserve Bank of India (RBI) issuing Rs 1.71 crore to four participating banks based on their indents. The central bank has identified four banks for the first phase of the pilot - State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank - in four cities, Mumbai, New Delhi, Bengaluru and Bhubaneswar. The highest indent was received from one private sector bank.
"The National Exchanges were directed on July 23 to ensure that multiple client codes are not given to a single client," Forward Markets Commission said. A separate sting or suffix may be provided after the unique client code to represent different characteristics and branches of the client, if any, it said, adding that these directions would come in force from January 2009.
Lead indicators suggest that domestic current account deficit (CAD) is likely to reduce in 2023, while macro-economic stability has received a boost from inflation being brought back to the official tolerance band, according to the Reserve Bank of India's (RBI's) January 2023 Bulletin. "With the merchandise trade deficit reaching an all-time high of $83.5 billion in a quarter, and a rise in net outgo from the income account, the current account deficit increased to 4.4 per cent of GDP in Q2FY23," the State of the Economy article in the bulletin said. "It is noteworthy, however, that the CAD for Q1 was revised down from 2.8 per cent to 2.2 per cent on account of downward adjustment in Customs data.
Ride-hailing app Uber is selling off its entire holding in Indian food delivery company Zomato for at least $373 million (Rs 2,939 crore) through a block deal of shares, merchant banking sources said on Tuesday. The development comes on a day when the Zomato scrip witnessed a nearly 20 per cent surge to close at Rs 55.60 apiece on the BSE. The sources said the offer price range for the deal to be carried out on Wednesday will be between Rs 48-54 per share.
For nearly seven years, Bhatia served in the first and second George W Bush Administrations, first in the department of commerce and then in the department of transportation, before finally enjoying a more than two-year stint as deputy US trade representative, the senior-most administration position ever served by an Indian American, before he resigned end October last year, to return to the private sector.
'Sullivan and Jaishankar welcomed the cooperation in recent weeks that resulted in deliveries of over USD 500 million in COVID-19 relief supplies from the US federal and state governments, US companies and private citizens across America for the people of India'
'I certainly think India can play a leading role in helping us resolve the Russia-Ukraine crisis. India obviously has an old relationship with Russia'
"Indian foreign direct investment in the US is more than America's FDI in India."
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
Thousands of small brands are ruling the consumer market despite the predatory pricing and deep discounting by foreign e-commerce companies and efforts of certain FMCG companies to sideline the distributor network, said the Confederation of All India Traders (CAIT), which represents about 70 million traders in the country. "If the government gives support policies to non-corporate sector and tighten the e-commerce companies to obey the policy and the law both in letter and spirit, the retail trade of the country is bound to blossom in pursuance of the vision of PM Narendra Modi for Make in India and Atmnirbhar Bharat," said CAIT national president BC Bhartia and secretary general Praveen Khandelwal.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
'Narasimha Rao asked me why China was doing so well in attracting foreign investments and I gave my frank opinion.' 'I told him that giving thrust to exports had to be a national effort.' 'But in India, the system was very centralised in the Government of India and the state governments had no role to play.'
The PhRMA's observation is significant against the backdrop of Swiss pharma major Novartis AG's decision to relocate its R&D investments from India.
He asked to focus on the 'vocal for local' mantra during the 'Azadi ka Amrit Mahotsav' celebrations.
President Xi Jinping on Tuesday pushed China's free trade vision for the Asia Pacific region and asked APEC to "break open closed doors" as leaders of the grouping held talks on forging consensus over opening up commerce in the resource-rich and economically dynamic region.
The markets may be entering a consolidation phase and are expected to trade sideways for now after a good run in the last few weeks, suggest analysts. In this backdrop, they suggest investors can book profits at the current levels and enter the market again on a decline from a medium-to-long term perspective. Thus far in fiscal 2023-24 (FY24), the S&P BSE Sensex has moved up around 5 per cent to nearly 62,000 levels.
The Tata-controlled Videsh Sanchar Nigam Limited has come under sharp criticism from American companies who have complained about the restrictive policies adopted by it on international bandwidth access.
Moody's and Fitch on Thursday downgraded Russia's sovereign rating to 'junk' grade following severe sanctions by western countries. While Moody's Investors Service downgraded Russia's long-term issuer and senior unsecured (local-and foreign-currency) debt ratings to 'B3' from 'Baa3', Fitch pulled down the rating on the country to 'B' from 'BBB', putting it on 'Rating Watch Negative'. The downgraded rating is in speculative or junk category reflecting default risk. It signifies that even through financial commitments are currently being met, the sovereign is vulnerable to high credit risk.
The submissions were made by the CBI in a short written reply while opposing the senior Aam Aadmi Party leader's bail plea, which it said was devoid of any merit and was an attempt to misuse the intricacies of law to thwart the progress of investigation in the case.
'The pandemic had a significant impact on child trafficking.' 'With economic hardships, traffickers exploited the situation to target desperate parents and children.'
Two firms belonging to the Adani group - India's most valued conglomerate - are part of the Nifty 50 index. The group, however, has no representation in the Sensex. And it could stay this way if a proposed index qualification rule change gets approved. Recently, Asia Index, a joint venture between S&P Dow Jones Indices and BSE responsible for index composition, floated a consultation paper where it proposed that a stock must have a derivative contract to be eligible for inclusion in the flagship 30-share Sensex index.
The Ministry of External Affairs (MEA) has been allocated a total of Rs 18,050 crore in the Union Budget for 2023-24 which is an increase of around 4.64 per cent over last year's allocation of Rs 17,250 crore.
India and the United States enjoy excellent relations and these can be further strengthened through extensive trade and business between the two countries, said Senator Satveer Chaudhary of Minnesota state.
The US has hailed India's recent move to withdraw the additional duty on beer, wine and distilled spirits, saying it was a positive step.
Deputy US Trade Representative Karan Bhatia, has defended the Bush Administration's action to deny duty-free tariffs for imports of gold jewelry
Nepal witnessed political turbulence in 2022 that dramatically turned rivals into allies and throned former guerrilla leader Pushpa Kamal Dahal 'Prachanda' as the prime minister for a third time, as Kathmandu made efforts to balance ties with immediate neighbours India and China with high-profile talks and visits.
The United States has a moral and national interest in helping poor and struggling countries transform themselves into free and hopeful societies, Bush said.
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