According to IMF, the body is planning to raise $6bn by selling 12.97 mn ounces of gold, about 12% of the total holdings it has. IMF officials said the sale would likely take place over several years in an effort to avoid market disruption. The news of the IMF decision will most probably affect the bullion market. It is a fundamental step that will enable IMF to remain an independent, astute and dynamic international organisation. It will put IMF on solid financial footing.
Both the soldiers were among five armed forces personnel who were awarded the Sena Medal for exceptional gallantry in daring exploits against militants in J&K. \n
After the latest rout, the American depositary receipt (ADR) premium of HDFC Bank to its local shares has shrunk to nearly zero. Shares of HDFC Bank on Thursday fell 3.1 per cent to Rs 1,490, extending its two-day decline to 11 per cent. Meanwhile, the ADR has slumped over 15 per cent in the past two trading sessions.
The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways chief executive officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.
Jennifer Aniston returns to her news anchor duties, Akshay Kumar saves the day and 456 South Koreans fight to the finish in a bloody game of survival. Sukanya Verma suggests everything you can catch on OTT this week.
The office, spread over 52,775 square feet carpet area, in Mumbai's suburban financial centre Bandra Kurla Complex, is on the fourth floor of the building 'Jet Airways Godrej BKC'.
Shares of SpiceJet zoomed almost 20 per cent on Friday on expectations of revival of the distressed air carrier.
Passenger vehicle wholesales in India declined by 27 per cent year-on year in October with semiconductor shortage hitting production of automobile manufacturers, auto industry body SIAM said on Friday. Passenger vehicle sales last month stood at 226,353 units, as compared to 310,694 units in the year-ago period. As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also witnessed a 25 per cent decline at 15,41,621 units, compared to 20,53,814 units in October 2020.
Passenger vehicle wholesales in India witnessed a decline of 41 per cent year-on year in September as automobile manufacturers struggled to produce adequate units owing to semiconductor shortage, auto industry body SIAM said on Thursday. Passenger vehicle sales last month stood at 1,60,070 units as compared with 2,72,027 units in the year-ago period. As per the latest data by Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also witnessed a dip of 17 per cent at 15,28,472 units, compared to 18,49,546 in September 2020.
No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents' grouping TAAI said on Wednesday.
The country has been facing an ever-rising fiscal deficit, increasing debt and a hamstrung economy.
Since their highs in September, chemical stocks have underperformed the benchmarks and broader indices over the past month with larger players witnessing a 9-22 per cent fall during this period. Expectations of weak September quarter results amid high inventory, demand woes and weak realisations have led to the underperformance.
The former Arsenal forward rules out Germany return.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
Investors became richer by over Rs 2.27 lakh crore on Monday as equities rebounded, with the BSE Sensex rallying over 1 per cent amid continuous foreign fund inflows and upbeat global markets. The 30-share BSE Sensex jumped 709.96 points or 1.16 per cent to settle at 61,764.25. During the day, it zoomed 799.9 points or 1.31 per cent to 61,854.19. Following the rally, the market capitalisation of BSE-listed firms jumped by Rs 2,27,794.46 crore to Rs 2,76,06,443.06 crore.
Gurgaon is the industrial and financial centre of Haryana.
There are millions of Indian women who avoid the responsibility of managing their finances due to a variety of reasons, including cultural and social conditioning.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
German clubs returned to training last week with squads split into small groups and having to adhere to strict social distancing guidelines.
'India's edtech and start-up story will be in danger.'
"It would be appropriate for you to include two representatives from us so as to better understand our concerns about the company, and also to enable the new shareholders to confidently expect a highly empowered and engaged workforce," Jet staff told SBI.
The domestic equity market on Thursday snapped the five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks. A positive opening in the European market helped the investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US. Halting its five-day losing streak, the 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points, with 17 of its constituents ending in the green.
Want last year's bonus? Sell our tickets: Jet Airways tells travel agents.
The party was trounced in Rajasthan, Madhya Pradesh and Chhattisgarh and is now left with only Himachal Pradesh in the north. It is ruling in only three states on its own and is in power in Bihar and Jharkhand as a junior partner in alliance with regional parties.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
Around 100 Indians have committed suicide in the United Arab Emirates every year since 2011, India's ambassador in Dubai said, calling on the expatriate community to help people in distress, particularly those with financial problems.
The operating environment is unpredictable, but if the bank can't give a clear picture of what's in store, calling the bottoming out of its asset quality stress is nearly impossible.
After raising interest rate by a cumulative 250 basis points in 11 months, the Reserve Bank of India (RBI) on Thursday unexpectedly kept benchmark rate unchanged as global banking woes added uncertainty to the economic outlook. Five out of six members of MPC voted to remain focused on the withdrawal of accommodation to ensure inflation aligns with target while focusing on growth, RBI Governor Shaktikanta Das said on Thursday. The Monetary Policy Committee of the central bank decided to take a pause after a rate hike seen in previous six consecutive policies.
As part of cost reduction efforts, the full service carrier has asked its employees, including pilots, to take steep pay cuts
Even as the gaming industry battles multiple regulations in different Indian states, it has received more than double the amount of investment this year compared to 2020. Industry watchers attribute this to the growing popularity of gaming, spurred by the pandemic, and the innovative business models gaming firms have built. According to data from industry tracker Venture Intelligence, investment in India's gaming sector in 2021 has more than doubled to $794 million, as against a total investment of $339 million last year. In 2019, this number was $176 million. Marquee investors such as Tiger Global (Dream11), Sequoia Capital India (Mobile Premier League), WinZO (Griffin Capital Partners), Tencent (Dream11) and Matrix Partners (Zupee) have pumped money into the sector.
In an emotionally-charged letter to the 22,000-strong employees, Goyal said the approval of the debt-recast plan will put the carrier on a "sounder and sustainable" financial footing.
SBI is the lead lender to Jet Airways, which has a debt burden of more than Rs 8,000 crore.
Real estate experts say rentals have corrected by 5-10 per cent across formats, including office, retail and housing, with a pick-up expected over the next few quarters as the economy recovers.
Automobile dealers' body FADA on Thursday said passenger vehicle (PV) retail sales in March witnessed a year-on-year growth of 28.39 per cent to 279,745 units, as compared to the year-ago period which saw disruptions in the market due to COVID-19 led lockdown. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,277 out of the 1,482 regional transport offices (RTOs), PV sales stood at 217,879 units in March 2020. Two-wheeler sales, however, declined 35.26 per cent to 11,95,445 units last month, as compared to 18,46,613 units in March 2020. Commercial vehicle sales also declined 42.2 per cent to 67,372 units, as against 116,559 units a year ago.
Microfinance portfolio of SFBs saw a muted growth of about 3% last year
India remained the world's fastest growing domestic aviation market with 51 straight months of doubled-digit traffic growth but the woes of passengers as well as carriers manifested in myriad forms.
'Life has been very stressful and frustrating.'
Despite a 56 per cent fall in residential launches in the first half of the year compared to the second half of 2019, Anarock Property Consultants believes that consolidation in residential real estate is expected to gain ground, and that branded players may garner a market share of 75-80 per cent.
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