Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
After 2014, our growth has been average of around 5%. If this continues, we will remain here like Egypt, Brazil, South Africa and Bangladesh, points out Aakar Patel.
India's first-ever Olympic medallist in women's boxing Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual UK-India Awards in Windsor.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
New York-based Global Finance magazine recently announced its annual awards for the World's best banks in developed markets. The winners of this year's awards are those banks that attended carefully to their customers' needs in difficult markets and accomplished better results while laying the foundations for future success.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
Following are the highlights of the Economic Survey 2022-23 tabled in Parliament on Tuesday
The USIBC has encouraged a streamlined implementation of the GST.
The recent revelations come six years after another round of tapes stole the limelight.
As concerned Indians we need to ask what can be done in the short term, which does not require legislative approval to enhance investment.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
People in India haven't seen what happens if the environment gets sour, the Softbank vice-chairman said.
'I want to leave behind the bank stronger and better than when I took over.'
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
With the Swiss government showing eagerness to help India trace suspected black money hoarders, banks based in Switzerland appear to be losing traction among the wealthy Indian clients and could not get much business commitments during the just-ended WEF summit.
The Lok Sabha elections in 2024 are not a consideration when it comes to monetary policymaking, said Reserve Bank of India governor Shaktikanta Das to underscore the central bank's commitment to controlling inflation. "It's not possible for me to comment what we do in the next MPC (Monetary Policy Committee), but one thing I can tell and I would like to make it very clear-that the fact of elections coming up in 2024 is not a factor at all so far as monetary policymaking is concerned. "Monetary policymaking is for checking (and) controlling inflation," Das said at the Business Standard, BFSI Insight Summit.
Walmart, the world's largest retailer, has paid $1.4 billion to buy out US-based Tiger Global's investment in e-commerce firm Flipkart, according to sources. The transaction puts Flipkart's valuation at $35 billion, against nearly $38 billion in 2021 when it raised funds from Japan's SoftBank, Walmart, and other investors. Tiger Global, Flipkart co-founder Binny Bansal, and Accel now have all fully exited the e-commerce firm by selling their stake to Walmart.
'The World Cup alone is expected to create an additional 100,000 jobs, most of which will comprise gig workers in the delivery space, transportation, hospitality and event management.'
'Indian equity valuations, although not very expensive, are not cheap either.'
Promising to make doing business more attractive, Union Minister Piyush Goyal has assured investors that they can work in India without fear or favour.
With MI no longer the dominant force it used to be in the last couple of IPLs and Rohit also not among the runs, plans were hatched after IPL 2023 to bring about some major changes.
Israel's ministry of defence and the Israel defence forces on Sunday said they are planning to evacuate another 14 communities close to the Lebanese border, The Times of Israel reported.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
The cash-rich Japanese company made waves with its plans to grow outside its home base last year when it bought No. 3 US mobile carrier Sprint Corp for $21.6 billion.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
Australian Prime Minister Anthony Albanese said on Tuesday that his Indian counterpart Narendra Modi gets a 'rock star reception' wherever he goes, as he welcomed his 'dear friend' at an event in Sydney and compared him to American singer Bruce Springsteen.
Chinese companies show their prowess among the world's top companies.
Retail giant Walmart has the world's largest number of employees.
The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
'Chasing sectors which have reported strongest earnings is not always the right strategy for outperformance.'
Residential house prices have only risen since the pandemic.
'Whenever she joined any of our family functions, she was so good, so simple.'
Combining affordable IT with native Indian ingenuity and entrepreneurship F C Kohli believed would enable Indian small businesses match anyone and thrive.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
Those who have a long-range mission of true nation-building will pay close attention to World Bank's new action plan for fairness in all matters of land use, says Rajni Bakshi.
A cricket match involving India and Pakistan is not just about top-quality cricket, but it is also about roaring fans giving the stadium the atmosphere of a Roman colosseum.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
