Summary of sports events and persons who made news on Thursday
Modi said that during his recent visit to Japan, he had the opportunity to meet Abe again and discuss many issues, but 'little did I know that this would be our last meeting'.
Meanwhile, an ADB report presented at the seminar said this year could prove crucial for the global economy as financial tensions in Europe could escalate further and there remains concern over fledgling economic recovery in the US.
The World Bank held India's Fifth Pay Commission as the "single largest adverse shock" to the country's strained public finance, according to the bank's India Development Policy Review.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
As India took an unassailable 2-0 lead over Australia in the Border-Gavaskar series, a dejected Allan Border opened up on the visitor's loss.
Images from the Under-19 World Cup final between India and Bangladesh, at Potchefstroom, on Sunday
Suleman Dawood, 19, was on board the vessel with Shahzada Dawood as a Father's Day bonding trip when their small submarine is believed to have imploded, killing all five on board, including British billionaire-explorer Hamish Hamilton.
The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 per cent from 6.8 per cent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 per cent in 2022 to 2.9 per cent in 2023, then rise to 3.1 per cent in 2024. "Our growth projections actually for India are unchanged from our October Outlook.
The world of golf was left stunned as the PGA Tour, DP World Tour and LIV circuit, who have been involved in a bitter fight, announced a shock agreement!
'He is ultimately responsible for this failure, having ignored warnings from Egypt and the US about the attacks.'
'99.6 per cent is occupied by Arab countries in the Middle East; Israel occupies just 0.4 per cent of the entire Middle East.' 'That 0.4 per cent is also a big issue for them.'
The advanced economies have been experiencing their longest period of slow growth in many decades.
Benchmark interest rate hiked by 50 basis points to 3-year high at 5.90 per cent. Economic growth projection for FY23 cut to 7% from 7.2% estimated in August. GDP expected to grow at 6.3% in September quarter, 4.6% each in December and March quarters.
Scotland skipper Richie Berrington said that the win is special for the side after a lot of hard work put in the game since a year.
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
The RBI on Friday retained inflation forecast for FY23 at 6.7 per cent amid uncertain price trajectory on "geopolitical shocks" and on hope that inflationary pressures would ease with pick-up in kharif sowing and supply chain improvements. In its previous monetary policy review in June, it had projected retail inflation for 2022-23 at 6.7 per cent, higher from 5.7 per cent forecast in April. The six-member Monetary Policy Committee (MPC) unanimously decided to raise the benchmark repo rate by a steep 50 basis points to 5.40 per cent with immediate effect to tame inflation while supporting growth.
Will Empire strike back to prevent a game changing election result, asks T P Sreenivasan.
Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as "clear danger" and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. Reserve Bank of India (RBI) has been flagging concerns about cryptocurrencies, which are seen as a highly speculative asset.
Fitch Ratings on Thursday slashed India's GDP growth projection for FY23 to 7 per cent, saying the economy is expected to slow against the backdrop of global economy, elevated inflation and high interest rate. In June, it had forecast 7.8 per cent growth for India. "We expect the economy to slow given the global economic backdrop, elevated inflation and tighter monetary policy. "We now expect the economy to grow 7 per cent in the financial year to end-March 2023 (FY23) from 7.8 per cent previously, with FY24 also slowing to 6.7 per cent from 7.4 per cent before," Fitch said in its September edition of the Global Economic Outlook.
The attack on Rushdie sent shock waves around the world, with world leaders and literary stalwarts saying they were appalled at the attack on the author who championed free speech and lived under the threat of assassination for nearly half his life.
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
Yulimar Rojas of Venezuela soared to her fourth consecutive world triple jump title on Friday.
McMahon was being investigated by the board for agreements to pay $12 million over the past 16 years to suppress allegations of sexual misconduct
Small stocks of Dalal Street grappled with turbulent times in 2022 as high volatility and higher interest rate regime sapped investors' appetite for these scrips but the horizon ahead seems less cloudy for the New Year. While the 30-share Sensex scaled multiple record peaks with bluechips glittering, small stocks underperformed and the BSE smallcap index declined more than 3 per cent this year. In comparison, the BSE Sensex climbed 2,673.61 points or 4.58 per cent till December 27.
Mercedes' seven-times world champion Lewis Hamilton, and now-retired four-times champion Sebastian Vettel, have been among those making political statements at races in recent seasons.
The recent ruling by the Authority of Advance Rulings making back-office services provided by a company to global firms taxable under GST, has sent shockwaves through the information technology and business process outsourcing industry.
Moody's Investors Service on Thursday slashed India's economic growth projection for 2022 to 7.7 per cent, saying that rising interest rates, uneven monsoon, and slowing global growth will dampen economic momentum on a sequential basis.
25 student suicides in 2023 at India's coaching hub Kota have revealed the mindboggling stress children confront every day, reports Prakash Bhandari.
It is a wonder how pervasive and long-lasting the damage can be from a balance-sheet crisis, says Suman Bery.
Prime Minister Narendra Modi on Sunday accused the opposition of playing 'negative politics' and said now the entire country is rooting for corruption, dynasty and appeasement to 'quit India'.
Monday's steep fall turned Sensex's yearly returns to - 2.57%, but only two large-cap funds did worse.
As per the Israeli Air Force, the fighter jets attacked a number of terrorist targets of the terrorist organization Hamas throughout the Gaza Strip. Among other things, the planes attacked a military compound and a weapons warehouse.
Iran was ousted from the United Nations Commission on the Status of Women on Wednesday evening in the wake of the Mahsa Amini protest.
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 International Monetary Fund (IMF) on Tuesday slashed India's growth forecast for 2022-23 (FY23) by 80 basis points to 7.4 per cent, citing less favourable external conditions and rapid policy tightening by the central bank. In its update to the April World Economic Outlook, the IMF said that though a global recession in 2022 was ruled out with a growth estimate of 3.2 per cent, the balance of risks was squarely to the downside, driven by a wide range of factors that could adversely affect the global economic performance. "The risk of recession is particularly prominent in 2023, when in several economies growth is expected to bottom out, household savings accumulated during the pandemic will have declined, and even small shocks could cause economies to stall.
Very often, 'sentiment' drives prices well beyond what is warranted and it is hard to forecast market sentiment, explains Debashis Basu.
