Saudi Arabia has agreed to provide US$ 4.2 billion worth of assistance to cash-strapped Pakistan to support its economy, it emerged on Wednesday after Prime Minister Imran Khan held talks with Saudi Prince Mohammad bin Salman in Riyadh this week.
The home ministry said only asymptomatic people would be allowed to travel and it would be arranged by aircraft and naval ships, and the facility will be available on a payment basis.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
The Bharatiya Janata Party faces an uphill task of repeating its performance of the last assembly election of winning 53 out of 58 constituencies in western Uttar Pradesh where polling will be held in the first phase on February 10.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
Speaking in the Security Council briefing on 'Threat to International Peace & Security Caused by Terrorist Acts' on Wednesday, Permanent Representative to the UN Ambassador T S Tirumurti reiterated India's firm belief that terrorism in one part of the world is threat to peace and security of entire world.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
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.
Internet giant Google will invest USD 1 billion in telecom major Bharti Airtel, which includes equity investment as well as a corpus for potential commercial agreements, to be identified and agreed on mutually agreeable terms over the course of the next five years.
Rajapaksa said China indicated that it would help Sri Lanka, while adding that "usually they don't like" lending out more money to cover earlier debt payments.
India lost the hosting rights of the 2021 men's World Boxing Championship to Serbia after the national federation failed to pay the host fee, prompting the International Boxing Association (AIBA) to terminate the agreement signed in 2017. The elite competition, which would have happened for the first time in the country, will now be held in the Serbian city of Belgrade.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
Domino's India data that included sensitive customer information such as their names, phone numbers, and credit card details has allegedly been breached and put on sale on the dark web. According to tweets by Israel-based Co-Founder and Chief Technology Officer of cybercrime intelligence firm Hudson Rock, Alon Gal, the data is worth 13 terabytes (TB). He tweeted on Sunday that the data includes as many as 180 million order details, including 1 million credit card details. The data, said Gal, was up for sale on the dark web. The threat actor, he said, was asking for $550,000 for the data.
Home ministry sources say there are fears that international lobbies might have been involved in spying, to create a narrative around Indian governance as well as the economy.
After facing multiple outages that irked the regulator, the country's largest private sector lender, HDFC Bank, is revamping its technology infrastructure by making large scale investments, wherein it is bringing new talent, getting into cloud-native stacks, a shift from the traditional monolithic IT infrastructures, and working with strategic partners for better products and services. The bank management is clear that it will do whatever it takes in line with its growth path to ramp up its technology infrastructure.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
Experts pointed out the move will only help taxpayers temporarily, as the tax liability remained the same and the date for advance tax has not been extended.
'We are also seeing the birth of new evil, the new face of drug distribution where human interface has reduced; consumers are using the Dark Web to source supplies and using cryptocurrencies as payment mode.'
Paytm's Rs 18,300-crore IPO -- India's largest public issue to date -- was subscribed only 18 per cent on the first day of bidding on Monday.
Fifty years ago today, December 25, 1972, Chakravarti Rajagopalachari, one of the titans of India's freedom struggle, passed into the ages. Kalki Krishnamurthy, who penned the Tamil classic Ponniyin Selvan among numerous other novels, describes his first glimpse of the man who would become an august national leader and his cherished role model.
Companies owned by fugitive diamantaire Mehul Choksi have allegedly siphoned off over Rs 6,344.96 crore from the Punjab National Bank (PNB) using fraudulent letters of undertaking and foreign letters of credit, a CBI investigation into the scam has detected. The findings were submitted by the CBI in a supplementary chargesheet filed before a special court in Mumbai last week, where the agency said the PNB was conned by its employees who were allegedly hand in gloves with Choksi and his company executives and who facilitated the scam as part of a criminal conspiracy. The PNB officials at the bank's Brady House branch in Mumbai issued 165 letters of undertaking (LoUs) and 58 foreign letters of credit (FLCs) during March-April 2017, against which 311 bills were discounted.
It said Naisar Kothari, a resident of Bhavnagar in Gujarat, was arrested under sections of the Prevention of Money Laundering Act (PMLA) and he has been sent to the ED custody till December 22 by a court.
Despite partial restoration of salaries, pilots across airlines remain dissatisfied, throwing challenges for managers.
Among other things, the e-commerce players will have to display the total 'price' of goods and services offered for sale, mention the 'expiry date' of goods and the 'country of origin' of goods and services.
The 2020 Beijing International Light Festival's Alive Together outdoor light immersive experience exhibition opened on Thursday in Beijing Yuyuantan Park. The exhibition will last till December. Here are some glimpses from this festival.
S&P Dow Jones Indices on Tuesday said it will remove Adani Ports and Special Economic Zone from its sustainability index following reports of its business ties with Myanmar's military that has been accused of human rights violations after a coup. The Adani Group firm is building a $290 million port in Yangon. In a statement, S&P Dow Jones Indices said: "Adani Ports and Special Economic Zone will be removed from the Dow Jones Sustainability Indices following a media and stakeholder analysis triggered by recent news events pointing to heightened risks to the company regarding their commercial relationship with Myanmar's military, who are alleged to have committed serious human rights abuses under international law."
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
You can avail of tax deduction on expenses incurred on preventive health check-ups. This provision is beneficial to younger people who don't exhaust their Section 80D limit with their health insurance premium.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
Describing China as its 'most important partner', the Afghan Taliban has said it looks to Beijing to rebuild Afghanistan and exploit its rich copper deposits as the war-ravaged country faces widespread hunger and fears of an economic collapse.
Uber Technologies said it is doing a fresh round of recruitment for its India tech centres and is planning to hire 500 more tech employees by December. The app-based mobility and delivery company has a 1,000-member tech team across its centres in Hyderabad and Bengaluru. The firm said the hiring plan is a testament to Uber's commitment to India, and its recognition of the engineering talent in the country. Uber hired 250 engineers to its India teams in 2021.
China's GDP grew by 4.9 per cent in the third quarter, down from 7.9 per cent in the second, confirming the slowdown of the world's second-largest economy which was under pressure from the crisis-hit property sector, curbs on energy and tardy recovery from the Covid-19 pandemic.
Education technology, grocery, fashion, food delivery and UPI payments surpassed volumes or revenues of February, in the September-October period.
In 2019-20, the capital expenditure of Indian Railways (IR) increased 60 per cent over 2016-17. The draft National Railways plan envisages a further increase in IR's capital expenditure, but an analysis by Business Standard shows that IR has come to depend more on borrowings and budgetary support. In 2016-17, while 11 per cent of its capital expenditure (capex) was funded by internal sources, in 2019-20 the ratio dropped to less than 1 per cent. A 2015 Committee on Restructuring Railways had flagged that over-reliance on borrowings could exacerbate the financial situation of Railways.
Walmart agreed to pay more than $ 144 million to settle US Security and Exchange Commission's charges and approximately $ 138 million to resolve parallel criminal charges by the Department of Justice for a combined total of more than $ 282 million.
India is better positioned to face external shocks emanating from increasing geopolitical tensions, the aftermath of the COVID pandemic and the inevitability of climate change, Reserve Bank Deputy Governor Michael Debabrata Patra said on Monday. Relative to macroeconomic configurations in 2013 when India was described as one of the fragile five countries, he said, "India is better positioned currently, as its macroeconomic fundamentals have improved significantly, and external sector indicators point to the availability of enough cushions to manage external shocks." He was speaking at a conference on 'Growth And Development in the BRICS Economies' organised by the Delhi School of Economics (DSE) and the Indian Statistical Institute (ISI).
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The Central Bureau of Investigation has booked Venkata Krishna Reddy Gunupati, chairman of the GVK group of companies, and his son G V Sanjay Reddy, managing director of Mumbai International Airport Ltd, among others for alleged irregularities to the tune of Rs 705 crore in running of the airport, officials said.
Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
