The rivalry between Tesla CEO Elon Musk and OpenAI CEO Sam Altman has intensified, centering on a groundbreaking artificial intelligence project known as Stargate, reported The Associated Press.
The exodus of FPIs from the Indian equity markets continued unabated, as they withdrew over Rs 7,300 crore (about $840 million) in the first week of this month due to global trade tensions, with the US imposing tariffs on countries such as Canada, Mexico, and China. This came following an outflow of Rs 78,027 crore in the entire January. Before that, they invested Rs 15,446 crore in December, data with the depositories showed.
'Many of these issues will be resolved within 6 months because the US economy has started unravelling.'
India is expected to be the top recipient of remittances in 2023 as inflows increase 12.4 per cent to $125 billion, said a World Bank report on Tuesday. Mexico will come next by receiving $67 billion and China will follow it at $50 billion. The key drivers for remittance growth in 2023 are a tight labour market in the United States, high employment growth in Europe reflecting extensive leveraging of worker retention programs, and a dampening of inflation in high-income countries. India's growth in remittances is expected to halve to 12.4 per cent in 2023 from a historic peak of 24.4 per cent in 2022.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
BCCI's healthy bank balance got healthier this year with an approximate increase of Rs 4200 crore, taking the overall earnings to a whopping Rs 20,686 crore.
India's forex reserves increased by $1.51 billion to $658.09 billion for the week ended November 29, the RBI said on Friday. The overall reserves had dropped by $1.31 billion to $656.58 billion in the previous reporting week.
Major recruiters, with double-digit offers at IIT campuses this year so far, include American Express, Barclays, BCG, Cars24, Deutsche Bank, Goldman Sachs, Google, Intel India, Meesho, Micron Technology, Microsoft, OLA, Oracle, Reliance, and Qualcomm.
In 2024 alone, South India saw the highest rise in sales in the luxury segment, with Tamil Nadu reportedly registering a 19.3 per cent increase in premium car registrations from 2022-23
'One should not invest more than 5 to 10 per cent of their overall portfolio exposure in global or international funds.'
rediffGURU T S Khurana answers readers' personal income tax queries.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
India's forex reserves dropped $1.31 billion to $656.58 billion for the week ended November 22, the Reserve Bank of India (RBI) said. The kitty had dropped a record $17.76 billion to $657.89 billion in the previous reporting week ending November 15.
Six US Congressmen have written to the Attorney General of the United States expressing concerns over the Department of Justice's indictment of the Adani Group, alleging it jeopardizes relations with India. The letter, signed by Lance Gooden, Pat Fallon, Mike Haridopolos, Brandon Gill, William R Timmmons, and Brian Babin, criticizes the Biden administration's decision to pursue the case, arguing that it has no real injury to US interests and could negatively impact the strategic partnership between the US and India. The Congressmen call for an investigation into the DOJ's conduct and request records pertaining to the case.
'If the markets correct further, PSU stocks could continue to decline.'
The Supreme Court of India has refused to halt the redevelopment project of Dharavi in Mumbai, allowing the Adani Group to proceed with their project. The court rejected a plea from Seclink Technologies Corporation, the original highest bidder for the project in 2018, which challenged the tender process and the award to Adani Properties Pvt Ltd in 2022. The court directed Adani Properties to make payments through a single bank account and ordered Seclink Technologies to file an affidavit detailing their increased offer for the project. The project work has already commenced, with constructions underway and 2,000 people employed on the site.
Atishi, a former Delhi Chief Minister and AAP leader, accused the newly formed BJP government of failing to fulfill Prime Minister Narendra Modi's promise of providing financial assistance to women under the Mahila Samridhi Yojana. She questioned why the scheme, which promised Rs 2,500 to each woman in Delhi, was not passed at the first cabinet meeting.
Raising overseas debt has become prohibitively expensive due to the depreciating rupee.
Trump on February 1 had announced tariffs on major US trading partners Canada, Mexico and China. He imposed a 25 per cent tariff on Canadian and Mexican imports and a 10 per cent on goods from China.
Maha Kumbh Mela 2025 is more than just the largest gathering of humanity. It is a testament to faith and devotion.
This was Rana's last legal chance not to be extradited to India. Earlier, he lost a legal battle in several federal courts, including the US Court of Appeals for the North Circuit in San Francisco.
India's forex reserves dropped by $17.76 billion to $657.89 billion for the week ended November 15, the RBI said on Friday. In the previous reporting week ended November 8, the overall reserves dropped by $6.48 billion to $675.65 billion.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Prime Minister Narendra Modi on Saturday vowed to thwart alleged attempts to rob Dalits and backward classes of reservations by the Indian National Developmental Inclusive Alliance (INDIA) which he accused of 'enslavement' and performing 'mujra' for Muslim vote bank.
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.
India's forex reserves dropped by $6.46 billion to $675.65 billion for the week ended November 8, the RBI said on Friday. In the previous reporting week, the forex reserves had dropped by $2.67 billion to $682.13 billion.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
Gold prices slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said. The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
The recent depreciation of the rupee along with sharp fall in the country's foreign exchange (FX) reserves has sparked a debate whether stability of the exchange rate is necessary and desirable. The rupee was one of the least volatile currencies among peers for almost two years before the current downward pressure started in September after the US Federal Reserve lowered interest rate.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
The government on Saturday announced a host of measures such as setting up of a new Fund of Funds Scheme (FFS) with Rs 10,000 crore corpus; and extension of period of incorporation by five years with a view to promote growth of budding entrepreneurs.
'I will continue to donate blood till I am healthy.'
The rupee tumbled 3 per cent against the US dollar in 2024 as concerns over slower economic growth and a stronger greenback in global markets weighed, but it was among the least volatile currencies in the world and the headwinds may be less intense in the coming year.
Partha Pratim Sengupta, who will be taking charge as the MD & CEO of Bandhan Bank in early November, has his task cut out. The Kolkata-based lender, which converted itself from a microfinance institution to a universal bank, is in its 10th year of operation. The bank was able to cut down the share of the micro loan book over these years.
Two women, including a 27-year-old Israeli tourist, were allegedly gang-raped while stargazing on the banks of Sanapur Lake near Hampi, police said on Saturday.
India's forex reserves dropped by $2.16 billion to $688.27 billion for the week ended October 18, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had dropped by $10.75 billion to $690.43 billion in one of the largest declines in the reserves in recent times, the RBI said on Friday.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
'The BJP lacks a credible mass leader who matches Mamata Banerjee's popularity.' 'Given the division of votes among Opposition parties, the West Bengal government's dole-giving strategy, and the consolidation of the poor, significant sections of scheduled caste groups and Muslim minorities behind the ruling party, it will be difficult to dislodge the Trinamool from power.'
Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
