Oil Minister M Veerappa Moily has suggested pricking the ballooning oil bill with everything from a street theatre campaign encouraging lower fuel use, to shutting fuel stations, to increasing imports from Iran.
The bill now heads to the White House for President Donald Trump's approval.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
India's rupee is likely to remain under pressure due to high prices of crude oil and other commodities, and may stabilise at around 79-80 against the US dollar in the near term, say experts amid limited headroom available with the Reserve Bank to check the weakening of the domestic currency. The currency has slumped over 5 per cent this year after Russia's invasion of Ukraine sent international crude oil prices soaring to a decade high. On Monday, rupee ended at a fresh all-time low of 78.34 (provisional) against the US dollar.
Indian exporters on Monday said the fluctuating rupee will not only raise imports bill but would also lead to volatility affecting their businesses.
Russian traders have started asking for payments in ruble for their exports to India in a move that could derail trade between the two countries which gathered pace after the war in Europe. This is because Indian importers are unable to pay in ruble. The India-Russia trade gathered pace after Vladimir Putin invaded Ukraine in February this year. In the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent year on year.
Introduced by Republican Congressman Ted Poe and Democratic lawmaker Rick Nolan, the legislation calls for revoking MNNA status of Pakistan, which was granted to it in 2004 by the then president, George Bush, in an effort to get the country to help the US fight Al Qaeda and the Taliban.
India has asked refiners that owe about $6.5 billion to Iran for oil imports to build up dollar and euro balances to avoid downward pressure on the rupee if six world powers and Tehran reach a final nuclear deal.
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
The tech creators, or the ones who made billions, asks Ajit Balakrishnan.
Musk blasted the "current lords and peasants system for who has or doesn't have a blue checkmark", using an expletive.
India's historical focus on its continental borders has overshadowed its maritime ambitions, but that is changing quickly, notes Ajai Shukla.
The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street.
The attendee had to call into the conference call and say a few initial pleasantries to establish his/her presence, but could then leave the app to handle the rest once the Senior Company Bore began his monologue... A rib-tickling excerpt from Sanjeev Sanyal's Life Over Two Beers.
An Indian-American physical therapist assistant has been sentenced to over four years in prison and ordered to pay USD 1.9 million in restitution for his role in a $14.9 million health insurance fraud scheme.
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
The Independence Day parade in Highland Park, Illinois, a northern suburb of Chicago, erupted in panic when shots were fired about 10 minutes after the parade kicked off, according to media reports. As per US media, an active shooter has been spotted in Highland Park.
In constitutional democracies the Opposition is legitimate and part of the legislature. To see it as the enemy and to try and get rid of it through convictions and expulsions is not democratic, asserts Aakar Patel.
The United States Senate has passed the landmark comprehensive immigration reform bill that will provide a pathway to citizenship to some 11 million illegal immigrants, including over 240,000 Indians.
When corruption eats into the vitals of a nation, the State structures decompose and collapse. And when the leadership loses respect of the people, the war is lost, asserts Ambassador M K Bhadrakumar, who played a stellar role in beginning India's systemic dealings in Afghanistan in 1994.
Pakistan's current account deficit (CAD) increased to a 4-year high of $17.4 billion in the fiscal year of 2021-22, indicating more troubles for the ailing economy of the cash-strapped country. The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of $17.406 billion in FY22 compared to a gap of just $2.82 billion in FY21. According to Dawn newspaper, the massive CAD speaks a lot about the severe problem of the balance of payments.
Modi to dilute pro-business changes to land bill.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
The British comedian who showered FIFA president Sepp Blatter with fake dollar bills has been charged by Swiss police after being arrested and interrogated, a police spokesman said on Tuesday.
The United States government over the years has been spending more than what it earns. Like for the year 2011, the expected revenues for the US government stand at $2.17 trillion, whereas the expected expenditure is much higher at $3.82 trillion, leaving a difference of $1.65 trillion between what the government earns and spends.
A piece of cricketing history -- the bat used by the legendary Donald Bradman in the 1934 Ashes series with which he scored two triple centuries is up for auction.
On Saturday, Biden had accused Donald Trump of "abdicating responsibility" and had pressed the outgoing president to immediately sign the COVID-19 relief bill that was pending.
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
The Taliban knows that Washington holds the key, points out Ambassador M K Bhadrakumar.
Heads of state and big-name billionaires opened the Paris climate summit with a bang on Monday.
The 30-share Sensex ended 271 points higher to end at 28,930 and the 50-share Nifty climbed 76 points to close at 8,776.
The bill for the star studded ceremony was footed by the city and included the costs for putting extra police on the streets, trash pickup, sanitation, traffic control and more.
As the 16th edition of the glitzy Indian Premier League is set to unfold, let's take a look at the driving force of the T20 league and what's in store in this edition.
India imports 1.2 billion barrels of oil, and oil prices are falling, falling...
Apple's ability to shelter billions of dollars of income from tax has hinged on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
The insolvency and bankruptcy code will strengthen the hands of lenders to recover outstanding debts by setting a deadline of 180 days for companies to pay or face liquidation
The most important institutions have been and are being undermined with almost no resistance, warns Aakar Patel.
The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
Weak dollar against other currencies overseas supported the rupee
