Indian information-technology (IT) service providers are likely to report another quarter (July-September) of low, single-digit growth owing to macro uncertainties, chiefly emanating from America, with no respite in sight even in the second half of the year.
The UK government on Sunday announced that it will support "iconic British brand" Jaguar Land Rover (JLR) with a loan guarantee of up to 1.5 billion pounds to give certainty to the Tata Motors owned carmaker's supply chain following a devastating cyber-attack. The loan will come from a commercial bank, backed by the Department for Business and Trade's (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
The World Bank on Wednesday cut India's economic growth projection to 6% for the current fiscal from 6.9% estimated earlier and blamed the slow down on corruption scandals and a host of policy issues including uncertainty in tax policies.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
The World Bank on Tuesday said that India could achieve eight per cent economic growth, provided the government stepped up reforms, including measures to contain fiscal deficit and wasteful subsidies.
His remarks came in response to several European nations announcing their decision to recognise a Palestinian state during a summit at the UNGA on Monday. While the move was largely symbolic, it added to Israel's diplomatic isolation. Washington, however, has made clear it does not support the step.
Congress leader Sonia Gandhi criticizes the Modi government's stance on Palestine, calling it a 'profound silence' and an abdication of humanity and morality. She argues that India needs to demonstrate leadership on the issue and that the government's actions are driven by personal friendship rather than constitutional values or strategic interests.
During that period, the World Bank Group's private sector arm, IFC, committed $1.2 billion in India.
Besides him, Brajendra Navnit who served in the Prime Minister's Office (PMO) has been appointed as Ambassador and Permanent Representative of India to the World Trade Organisation (WTO), Geneva, Switzerland. Topno is a 1996 batch Indian Administrative Service officer of Gujarat cadre.
Saudi Arabia's Al-Hilal stunned Manchester City 4-3 in extra-time in Orlando on Monday to pull off one of the shocks of the Club World Cup.
Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
As a protege of Shinzo Abe, Takaichi is expected to scale bilateral ties much higher. Trade and investment shall grow. People-to-people contacts shall be scaled up, points out Dr Rajaram Panda.
Optimistic of India sustaining 8.0 per cent GDP growth, World Bank on Friday indicated that it will step up assistance to the country next fiscal from close to $2.0 billion this fiscal.
The World Bank has praised India for its rapid economic growth but was critical of the country's labour laws, caste system, gender inequality and imperfections in capital market that were widening inequality.
Spiralling prices of wheat, maize, sugar and oils apart from food items such as vegetables turning costlier, are pushing food inflation higher, according to World Bank.
The World Bank group has been publishing annually 'Doing Business Report' since 2004.
Three days after the World Bank decided to ban it for eight years, Satyam Computer Services today hit back and demanded an apology from the bank for "certain inappropriate statements" made by its representatives.
Women's World Cup winner Divya Deshmukh, who has also qualified for the Women's Candidates, has opted out of the women's section to compete with the best in business.
In President Donald Trump's big priority bill, there is a proposal for a 5 percent excise tax on remittance transfers that would cover more than 40 million people, including those holding green cards and H1B visas.
Entities controlled by governments - sovereign wealth funds, and pension funds - have recorded higher growth in equity assets under custody compared to other foreign portfolio investors (FPIs) over the past five years.
The Mumbai Metropolitan Region Development Authority, which is implementing the project, said that it was in talks with the World Bank for funding the project.
There is lack of scientific basis in computing the poverty line, says govt.
Implementation of the VAT regime, strongly favoured by the Kelkar committee on tax reforms, has been hanging fire since April this year.
For nearly two decades, Nitish Kumar has cultivated women as a distinct constituency. 'To create a broader vote base, he thought it would be better to bring women to electoral politics.'
The World Bank on Wednesday lowered its economic growth forecast for China this year to 6.5 per cent, down from 7.5 per cent at the end of last November, after huge falls in exports and shrinking private sector investment.
The BCCI invited bids for the Indian cricket team's title sponsorship rights after fantasy sports giants Dream11's pullout.
Purchasing power parity revision set to alter poverty estimation; fall won't be so steep once the global poverty line is revised too.
He has since matured into a complete three-format player: 2,647 runs in 37 Tests at 41.35, 2,775 runs in 55 ODIs at a Bradmanesque 59.04, and 578 runs in 21 T20Is.
Praggnanandhaa takes on a strong field at Grand Swiss, eyes Candidates berth
Finance Minister Nirmala Sitharaman on Thursday asked India Inc to take advantage of the policies and reforms undertaken by the government and no longer hesitate to invest more and expand capacities. Sitharaman also asked the industry to partner with the government for skilling the youth and also to engage with the government throughout the year, and not just before the Budget.
'All commercial and banking transactions happen in South Mumbai.'
Former World Bank Chief Economist Kaushik Basu on Thursday said the US economic policy towards India has taken an unfortunate turn, noting that President Donald Trump's harsh stance against New Delhi appears baffling. US President Donald Trump on Wednesday announced a 25 per cent tariff on Indian goods from August 1, amid signs of a stalemate in the ongoing bilateral trade negotiations between the two countries.
The World Bank and The International Monetary Fund concluded their annual spring meeting here by increasing the voting rights of India, China and Brazil, among others, thus giving them more say in the institutions' functioning.
'One has to be very mindful because it will be applicable for big tech platforms and even for banks and insurers, whose business is completely different.'
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