The Opposition on Tuesday termed the Union Budget as a 'kursi bachao budget' driven by political compulsions and claimed that it ignored opposition-ruled states in a bid to 'appease' Bharatiya Janata Party's allies.
'He said the N D Studios wasn't functioning, shootings were not happening.'
The recent run on the US-based Silicon Valley Bank (SVB) and the subsequent seizure of its assets by the regulators may have sparked a global wave of risk aversion, particularly for start-ups. However, the Indian banking sector is unlikely to be a victim of any contagion effects, said analysts. he bank, which played a big role in financing start-ups and technology players, faced stress after incurring huge losses on its holdings of US bonds, following the most-aggressive monetary tightening cycle by the Federal Reserve in around four decades.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
Cricket has been suspended since March and the ECB approved an additional financial package of 35.7 million pounds ($44.71 million)
The rupee has depreciated 9.7 per cent against the US dollar over a year and with the RBI stemming the rupee's weakness through dollar sales, its reserves have dropped to their lowest levels since October, 2020. The fall in reserves has widespread implications.
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
If Ahmedabad is India's preferred candidate, as seems likely, hosting Olympics 2036 should give it a leg up: A bigger airport, a better metro network, more hotels, flyovers and so on, observes T N Ninan.
Ramalingam Kalirajan explains the pros and cons of both investment types.
There is a significant risk that advanced economies could experience another downturn, said the World Economic Outlook report released on Thursday.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
The finance ministry has put out a revised draft in public domain.
As China faces a scenario of negative population growth, the government has started to force its citizens to marry early and have at least three children each.
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President Pranab Mukherjee has sought to counter criticism against the economic stimulus provided when he was the Finance Minister in 2009 and maintained that economy under him registered high growth rates.
Desperate to save its multi-million dollar broadcast deal with Channel Seven, Cricket Australia has overshot its COVID-19 bio-bubble budget which now stands at a whopping 30 million Australian dollars with marquee tour of India and the Big Bash League being a part of it.
rediffGURU Kanchan Rai urges you to talk about your problems so you can seek solutions and also transform your life.
In the backdrop of the crisis brewing at Paytm Payments Bank, major fintech companies are ramping up their workforce and inducting new faces in their leadership teams, industry sources said on Wednesday. Users will not be able to add funds to their Paytm Payments Bank Wallet after February 29, though they will still be able to use the services and the existing balance in the wallets, according to the Reserve Bank of India (RBI) diktat. Industry sources said that competitors to Paytm are investing heavily in offline payments while doubling their salesforce.
Go First chief executive officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline's staff, seeking their support for revival. While Khona said the company had taken all steps for the airline's revival, Lal put forward the view it would have to raise funds. Employee engagement took place a day after the National Company Law Tribunal (NCLT) admitted the airline's insolvency plea on Wednesday and ordered a moratorium on recoveries.
Mamata Banerjee's attempt to turn the Presidential race into a troublesome affair for Congress suffered a setback on Friday with her key ally, Samajwadi Party, declaring that it was against any attempt to destabilise the government when the country was facing a serious financial crisis.
'This is a period of significant uncertainty, of unknown unknowns.'
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
The Prime Minister also warned that 'prolonged' uncertainty and instability in Europe will hurt other countries too and suggested that the IMF can help rescue the situation.
He announced Jack Lew as his next Treasury Secretary.
No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.
'The sense of Constitutional propriety and political morality seems to be vanishing fast.' 'There are many things in today's politics of governance which Manmohan Singh would have never dreamt of saying or doing.'
In one of these clips or voice notes, he is heard stating that his company could not come out of the financial crisis it was facing because of the procedure adopted by the financial services firm.
A key accused in the infamous PMC bank scam of Maharashtra was caught in Bihar while trying to sneak into Nepal, an immigration official said here on Thursday.
India was, relatively, less affected, as the central bank here did not allow the banks to speculate with people's money on the market.
Many policy makers and economists have observed that the recovery from the 2007-2008 financial crisis has been much slower than most recoveries of the post-war era, which needed only a little more than a year, on average, to restore output and employment to their previous levels.
The depth of the financial crisis and the various speeds at which different regions are recovering will accelerate the tectonic shift in global wealth distribution to the East, with China, India and the Middle East emerging as new wealth centres, according to a study.
Barcelona won their 27th LaLiga title and first for four years after a 4-2 win at city rivals Espanyol on Sunday.
According to a Reuters report, tourism, which slumped by 25 per cent in 2009-2010 only to rebound last year, is crucial to Greece's economy, accounting for 15 per cent of its output and one in five jobs in a country where unemployment has hit a record high of 21 per cent.
The rouble has fallen about 45 per cent against the dollar this year.
While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024.
Lenders of debt-ridden Jet Airways on Tuesday filed an appeal in the National Company Law Appellate Tribunal (NCLAT) against implementation of the resolution plan by the Jalan-Kalrock consortium, according to sources. The sources said the lenders have maintained that the condition precedent mentioned in the resolution plan of the consortium has not been met. And therefore, the plan is not valid. "The lenders want the plan to be circled back to the committee of creditors (CoC) for fresh consideration," the sources said.
Speaking on the global outlook for the financial services industry during the event, hosted by the Coller Institute of Private Equity and London Business School, J Christopher Flowers said: "There are those in the financial institutions industry who think that we are facing permanently low returns on capital. I don't see it that way.
Reserve Bank governor Shaktikanta Das on Friday cautioned banks against any build-up of asset-liability mismatches, saying both are detrimental to financial stability and hinted that the ongoing crisis in the US banking system seems to have emanated from such mismatches. Delivering the annual KP Hormis (Federal Bank founder) commemorative lecture in Kochi this evening, the governor was quick to acknowledge and assure that the domestic financial sector is stable and the worst of inflation is behind us. Amid the continuing volatility in exchange rates, especially due to the excessive appreciation of the US dollar, and its impact on the external debt servicing ability of nations, Das said, "We have nothing to fear as our external debt is manageable and thus appreciation of the greenback does not pose any problem to us."
High drama was witnessed during the Himachal Pradesh Cabinet meeting on Saturday with ministers Jagat Negi and Rohit Thakur leaving midway following a 'heated debate' over policy decisions, sources said.
The first-quarter performance of top IT services players, as well as mid-cap firms, has been subdued, reflecting macro uncertainties. The numbers of the top four firms show several misses, hinting at difficult times ahead. One mismatch is the total contract value (TCV) signed by the firms and the revenue growth registered.
