United States President Barack Obama, in an effort to rejuvenate the battered US economy, on Thursday nominated his chief-of-staff and budget specialist Jack Lew as the next treasury secretary.
He was previously Chief-of-Staff and Budget specialist.
The ties between India and the Maldives came under severe strain since Muizzu, known for his pro-China leanings, took charge of the top office in November.
The other recent reforms initiative of the government include the decision to raise FDI cap in insurance from 26 to 49 per cent and allowing foreign investment in pension.
WazirX lost about 45 per cent of its crypto assets to the security breach. People privy to the discussions say North Korea has been mentioned.
Opposition members in Rajya Sabha on Thursday accused the government of imposing Hindi by bringing new bills with titles only in that language, a charge the treasury bench contested while alleging they were stuck with a colonial mindset.
Two bills that lay down the mechanism to hold simultaneous elections were introduced in the Lok Sabha after a fiery debate on Tuesday, with the opposition terming the move 'dictatorial' and Law Minister Arjun Ram Meghwal asserting that the legislation would not tamper with the powers enjoyed by states.
The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China. As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far. Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the piossibility of a trend reversal.
The Indian rupee is likely to depreciate further against the US dollar through the end of 2024. This is due to the continued strengthening of the greenback, combined with the weakening of the Chinese yuan, which is expected to keep pressure on the Indian currency.
In a significant gesture ahead of the high level Sino-US talks, China has increased its holdings of United States treasury debt by $17.7 billion, consolidating its position as the number one holder of US treasury securities with a total of $895.2 billion.
'The economy is clearly at a very soft spot, and earnings growth is disappointing every day.' 'After three great years, the Indian economy has hit a rough patch.'
Do Aur Do Pyaar Producer Tanuj Garg threw a party at a restaurant in Mumbai, and while the film's cast members -- Vidya Balan, Pratik Gandhi, Sendhil Ramamurthy and Ileana D'Cruz -- did not attend, many film folk did.
Other income stood at about a quarter of PBIDT in the first 9 months of 2013-14
Neel Kashkari, who was nominated by President George W Bush to the post of Assistant Secretary of Treasury for International Affairs, has been confirmed by the Senate and has begun work in his new job, even if it is only for the next six months.
Returns of liquid funds are meant only for the short term and don't help investors create wealth over the long term, as equity funds do.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
The BJP accused Congress leaders of colluding with foreign forces to destabilize India and demanded Sonia Gandhi to disclose her role in a George Soros Foundation-funded organization's activities. The ruling party also attacked Rahul Gandhi, calling him a "pawn" for his protests against the Adani issue.
The rupee has remained largely stable against the US greenback in the current calendar year (CY 2024), depreciating by just 0.59 per cent so far. However, it has considerably weakened against the euro and pound. The local currency has depreciated by 1.6 per cent against the euro and 5.6 per cent against the pound, as both currencies strengthened against the dollar during this period.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Union minister Nitin Gadkari has said the Maharashtra government's Ladki Bahin scheme, introduced to provide financial assistance to women, could affect the timely payment of subsidies in other sectors.
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
Goldman Sachs and American Express played a large role in boosting the US Treasury's coffers by agreeing to pay a favourable price for the warrants received in return for the aid, the Financial Times said citing a study by the consultancy SNL Financial.
The Reserve Bank of India (RBI) abstained from selling any US dollars throughout February, for the first time in nine months. The decision comes amid increasing pressure on the rupee, as expectations of rate cuts by the US Federal Reserve keep pushing back. The last time the RBI did not sell dollar over a month was in May 2023.
The Reserve Bank of India's (RBI's) record surplus transfer to the government has raised hopes among bond traders that the government might reduce its gross borrowing for the current financial year (2024-25/FY25) by up to Rs 1 trillion. The RBI approved a dividend of Rs 2.11 trillion for the central government for 2023-24, marking an increase of roughly 141 per cent from 2022-23 (FY23). In addition, the contingency risk buffer has been raised to 6.5 per cent from the previous 6 per cent.
Prime Minister Narendra Modi on Tuesday asked NDA MPs to follow parliamentary rules and conduct, and learn from senior members about the best practices, comments that came a day after the ruling alliance accused Leader of Opposition Rahul Gandhi of making a "most irresponsible" speech.
Pawar urged people not to fall prey to the Opposition's "fake campaigns", highlighting government schemes for the youth, women, Warkaris (followers of Lord Vithoba) and others.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
BJP members, including the Leader of Opposition Sunil Sharma, opposed the resolution, saying it was not part of the listed business.
Foreign investors have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections and outperformance of Chinese markets.
India on Monday asserted that its friendly ties with the Maldives will continue as Prime Minister Narendra Modi and President Mohamed Muizzu unveiled a blueprint for comprehensive economic and maritime cooperation, signalling a reset of the relationship that had hit a rough patch last year due to anti-New Delhi rhetoric.
She's a popular, cute-looking vlogger who's written a book about breakups. But what does Shenaz Treasury think about romance? The modern version of right swipe-left swipe love? And a world in which the rule of ishq have changed?
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The liquidity in the banking system moved into surplus almost after three months as the Reserve Bank of India (RBI) absorbed over Rs 40,000 crore from the market on Monday, predominantly on the back of increased government spending. However, this situation may be short-lived given the higher demand for funds to pay taxes and year-end targets, treasury executives said. Meanwhile, two variable reverse repo rate (VRRR) auctions held on Tuesday received weak response.
The introduction of tax deducted at source (TDS) on income from central government securities and state bonds may not lead to a significant effect on retail participation, according to market participants. The Union Budget proposed that starting October 1, 2024, investors may face a 10 per cent TDS on investments in central government securities and state development loans (SDLs). "Last Budget, TDS on interest on securities was reintroduced.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Obama plans to write checks to Treasury on a monthly basis, effective March 1, but will cut the first check in April.
Hasina was set to travel to London from India but is now contemplating other options after the British government indicated she may not get legal protection in the UK against any possible investigation, they said.
The US treasury department informed about the sanctions following the October 7 attacks on Israel by Hamas.
