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.
The Karnataka Congress is a "united house" and it will fight the assembly polls next year on its own under a "collective leadership", party's state unit chief DK Shivakumar said on Thursday.
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
'While the US-Pakistan relationship has been stabilised, it's still mired in uncertainty.'
Overseas shipments at auto firms expanded at a brisk pace year-on-year (YoY) in March, bumping up the overall annual exports for FY22 and taking it to a record level for some like Maruti Suzuki India and Bajaj Auto. Amid a semiconductor shortage, a depreciating rupee and a strong demand in various export destinations, passenger vehicle makers diverted capacity meant for the local market in favour of the more-lucrative export market. Among the passenger vehicle makers, market leader Maruti Suzuki led the rally with its overseas shipments touching a record level of 238,376 units in FY22 - the highest for the company in any financial year.
And there have been months when flows have exceeded $3 billion.
Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
Equity benchmark Sensex tanked over 1,000 points in the opening session on Friday tracking losses in index majors ICICI Bank, HDFC twins and Reliance Industries amid a negative trend in global markets.
The government has also relaxed certain rules to cut delays in military purchase like allowing the three services to procure required weapons and equipment from a single vendor, the sources said.
Despite partial restoration of salaries, pilots across airlines remain dissatisfied, throwing challenges for managers.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
'Just think of this innocent man who had to suffer so much.' 'Who will compensate for the physical and mental torture Kappan had to go through in the last two years though he has not done any crime?'
'Washington appears to be playing the long game, and making the argument to India that over the longer term, Russia -- sanctioned, cash-strapped, isolated by the West -- will no longer be a viable defence partner for India'
Equity mutual funds attracted an all-time high net inflow of Rs 28,463 crore in March, on continued interest by retail and HNI investors, who used market correction as a good buying opportunity.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
Modi's hardline policy towards Pakistan and J&K has created numerous leverages and bargaining positions that New Delhi can bring to the bargaining table and translate into concessions, argues Ajai Shukla.
Shares of the HDFC duo led the fall in the indices, shedding up to 2.94 per cent. IndusInd Bank, Axis Bank, Maruti, Bajaj Finserv, PowerGrid and SBI were among the other major laggards.
'Indian diplomacy faltered amidst multiple failures of statecraft.' 'The functionaries responsible must be held to account for their abject failure,' asserts Ambassador M K Bhadrakumar.
A sharp decline in crude and strengthening of the rupee added to the buoyancy.
India attracted an estimated $49 billion FDI in 2019, a 16 per cent increase from the $42 billion recorded in 2018.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
As many as 140 stocks hit their respective 52-week low levels.
'If Ranil Wickremesinghe starts repressing and suppressing the protesters who represent the people, that will pose a danger for him to continue in office.'
Gold, which lost its sheen to some extent in the second half of 2021, is likely to regain the glitter in the New Year and cross the Rs 55,000-per-10-grams level amid pandemic woes, inflation worries and stronger US dollar. After a stellar run up in 2020 when the yellow metal touched a record high of Rs 56,200 on the MCX in August, the prices are near Rs 48,000 per 10 grams now. This is roughly 14 per cent lower from the all-time highs and 4 per cent lesser compared to January 2021 levels.
'Any future course of action towards active participation in the alliance when formed would need a lot of deliberation, long term vision and should be in our best national interests,' notes Commodore Vengalil Venugopal (retd).
HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by Axis Bank, Bharti Airtel, M&M, Reliance Industries, ICICI Bank, IndusInd Bank and Titan.
'Our future is in limbo. The government saved us with Operation Ganga; now, they must save our careers.'
Oil prices jumped nearly $3 a barrel and gold and safe-haven bonds rallied on Friday after the killing of top Iranian commander Qassem Soleimani in an airstrike by the US in Baghdad.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
When Barca and Neymar were at the peak of their powers in 2017, however, he shook world football by heading to PSG for a record-smashing 222 million euros ($269.89 million).
Seeking to provide a quicker and value-maximising outcome for stressed MSMEs, the government has introduced a pre-packaged resolution process for such enterprises by amending the insolvency law. Now, Micro, Small and Medium Enterprises (MSMEs) can seek resolution for their stress through the pre-packaged process under the Insolvency and Bankruptcy Code (IBC). An ordinance was promulgated to amend the IBC on April 4. Many MSMEs have been impacted by the coronavirus pandemic and experts opined that the latest amendment, which comes less than two weeks after the suspension of certain IBC provisions ended, is a welcome move.
The pressure on India to take a hostile attitude towards Russia and China was not subtle, but it was guarded, observes Ambassador T P Sreenivasan after Monday's 2+2 ministerial meeting in Washington, DC.
The Sensex was mainly dragged by Reliance Industries, HDFC, HDFC Bank, ICICI Bank and SBI, which lost up to 3.35 per cent.
Inflation targeting has worked well and the government must stay with it, and the framework is going to work well in the period ahead also, former RBI Governor D Subbarao said on Thursday. He also said low inflation contributes to sustainable growth. Addressing the 'Times Network India Economic Conclave' virtually, Subbarao said the government's proposal to privatise some public sector units is not akin to selling family silver but it is a route for putting India on a sustainable growth path.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
Trading sentiment in the equity markets this week will be guided by global cues, Covid-19 trends and quarterly earnings by market heavyweight TCS, analysts said. Investors will also monitor movement of rupee and crude oil as well as progress of monsoon, they added.
PCB Chairman Ehsan Mani had insisted that although the PCB had suffered losses because of absence of series against India but it can live without playing them. The PCB also faced financial disagreements with its last broadcaster over the unscheduled home series against West Indies etc.
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