Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
China's debt is dangerously high at close to three times its GDP, with the ratio having nearly doubled in recent years, observes T N Ninan.
Pakistan's Twenty20 captain Shahid Afridi was saved of much embarrassment when a fan stepped in to pay for his meal at a fast food joint in Auckland, after the flamboyant cricketer realised that he was not carrying local currency.
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was sharply higher by 0.62 per cent at 93.96.
Economists polled in a recent survey by Ficci unanimously felt that the rupee will continue to be under pressure in 2018-19
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
The net worth of India's richest man, Mukesh Ambani, dropped 28 per cent, or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his wealth decline by USD 19 billion (app Rs 144,400 crores) in the February-March period, taking his global ranking down eight places to 17th, the Hurun Global Rich List said.
The money generated, expected to be more than a billion dollar per annum, would be used to fund a biometric entry and exit tracking system
Sarojini Naidu, Mother Teresa or Savitribai Phule?
Such service providers were given time until the end of October to follow the law of the land.
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
The Indian basket represents the price of Oman and Dubai sour grade crude.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
The Americans have expended a lot of diplomatic energy to coax India into toeing their line but India has refused to buckle under pressure. As Foreign Minister Subrahmanyam Jaishankar said, India has not taken anyone's side but its own side, points out Virendra Kapoor.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
The Rupee is seen weakening further against the dollar.
Pakistan's close ties with China and its lack of democracy and disregard for human rights will not be overlooked, said Haqqani, who currently is a Senior Fellow at the Hudson Institute think-tank in Washington.
Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.
There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
Since the Union Budget, gold has become costlier by 8-9 per cent because of a 2.5 per cent increase in import duty to 12.5 per cent and about a 5 per cent depreciation in the rupee.
"We pay for a majority or the biggest portion of their money. They actually criticised and disagreed with my travel ban at the time I did it. They were wrong. They've been wrong about a lot of things. They had a lot of information early and they didn't want to -- they're very -- they seem to be very China centric," the US president charged during his news conference.
ONGC and RIL bill their consumers like fertiliser plants and power stations in US dollar.
'They are starting to move more quickly and we would just like to continue to see bold action being taken.'
'When the rupee was at 65 a dollar, we wanted to go to Thailand for a holiday.' 'Now at 72, we may find Goa much more attractive.' 'That's how correction happens.' 'If you don't let that correction happen, then it's a pressure cooker that bursts one day.'
The 50-share Nifty plunged by 134.75 points or 1.23 per cent to close at 10,862.60 points as 38 of its constituents declined.
For the current fiscal, the import bill has been pegged at $66 billion at an average import price of $48 per barrel
The rupee had recovered by 8 paise to close at 66.91 in Tuesday's trade.
In fact, the Taliban apparently collects about 10 per cent as cultivation tax from opium farmers and 15 per cent as heroin tax from laboratories and smugglers that smuggle narcotics into Pakistan. This, by itself, is a revenue stream estimated at USD 250-300 million.
At a time when crude oil and natural gas prices are sky-high, public sector behemoth ONGC's haphazard planning and mismanagement in developing showpiece deep-sea KG-D5 block is costing the nation over Rs 18,000 crores due to the delayed output of oil and gas, government officials said. ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 because of deferments in awarding the fragmented work packages of the project, two officials with direct knowledge of the matter said on condition of anonymity.
Tiger Woods will write a memoir billed by the publishers as a "candid and intimate narrative of an outsize American life".
Uncertainties like the bankruptcies bill, rising non-performing accounts at banks and political uncertainty are expected to drive gold demand higher in India.
Trump has roped in Army Corps of Engineers to build hospitals all over the country, activated the ready reserve components of the Armed Forces and invoked the Defense Production Act to compel General Motors to accept, perform and prioritise federal contracts for ventilators.
PhonePe via Bharat Bill Payment System (BBPS) plans to get into a number of new verticals, including fee payments in schools and colleges, payments at hospitals and other services
On Friday, the rupee fell to its 26-month low at 66.89.
Indian basket at 6-month low of $49.11 a bbl
Punjab faces many mortal threats. For most of these the people of Punjab are themselves responsible. And unless they take a brutal hard look within, their future generations have to be resigned to continue living with this constant slide, warns Shekhar Gupta.
Trump indicated that his administration is looking at a bigger compensation from Beijing than the $140 billion being sought by Germany over the coronavirus pandemic.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
Srichand and Gopichand Hinduja emerged as the 66th richest in the world, as part of an Oxfam study released at the WEF.
