Ajay Banga will be a 'transformative leader', who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
What some of our leaders were up to on Friday, November 11.
India and the US on Friday expressed concern over high inflation which is being driven by external factors and has become a challenge for both the nations. Speaking at the US-India Businesses and Investment Opportunities, Finance Minister Nirmala Sitharaman said in India the inflation challenges are prompted more by external factors. "So while the number today is in a manageable range, the challenges are largely due to the import of crude.
The Opening Ceremony of the 2028 Summer Games in Los Angeles will be held on July 14 and the Games will conclude on July 30, games organizer LA28 announced on Monday.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
Even as the Group of Seven (G7) price cap on Russian crude oil enters into force as of December 5, India has been assured it will continue to receive the existing deep discounts on Russian oil, for the time being, informed officials. "We have been assured by our Russian partners of uninterrupted crude supplies at the existing rates for the time being. "There were a lot of reports of changes in (India's) buying patterns after the global price cap took hold.
Three days after he was shot while delivering a speech in the western Japanese city of Nara, Abe Shinzo, Japan's longest serving prime minister, began his final journey in Tokyo.
United States President Joe Biden and Chinese's wannabe supreme leader Xi Jinping met virtually a few hours ago.
Finance Minister Nirmala Sitharaman on Tuesday highlighted "significant reforms" undertaken by the government including National Monetisation Pipeline (NMP) and National Infrastructure Pipeline (NIP) as she met institutional investors in Boston. Sitharaman arrived in the US on Monday for a week-long trip to attend the annual meet of the World Bank and IMF in Washingon as well as G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. During the official visit to the US, Sitharaman is expected to meet US Treasury Secretary Janet Yellen.
Anupam Kher gets the world ready for New Amsterdam.
Among Sensex stocks, Maruti rose the most, followed by Tech Mahindra, Mahindra & Mahindra and Asian Paints. Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
Referring to how unified Washington Allies have been in isolating President Putin, Biden stated, "...The Quad is, with the possible exception of India being somewhat shaky on some of this, but Japan has been extremely strong -- so has Australia -- in terms of dealing with Putin's aggression."
The distribution of the Covid-19 vaccine is underway across the world. To provide a convenient and safe place for people to receive COVID-19 vaccines, countries around the world transform shopping malls, churches, airports, subway stations and museums to vaccination centers. Some also offer vaccination services on the river and mountain.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Italian shoemakers want lower cost base in an expanding market and India fits the bill, apart from its own growing domestic demand
Lovers Rock is sexy, romantic, charming and hugely entertaining -- a perfect gift for movie lovers in these tough times, feels Aseem Chhabra.
The US, in coordination with allies and partners, continued to forcefully respond to Russia's "unjustified, unprovoked and premeditated" invasion of Ukraine by imposing sanctions on Putin and Lavrov.
Amazing music. Sizzling stars.
Supermodel Naomi Campbell's disco dress is no competition for soccer star Alex Morgan's daring red suit.
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
She has given us another reason to be proud of her.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
'No one in this administration, not the President nor anyone on the national security team, would suggest that the Taliban are respected and valued members of the global community'
Pfizer can show the FDA approval to the Indian regulator and present a case that based on whatever data submitted, the US regulator has granted a full marketing nod, says Sohini Das.
Lumiere, the United Kingdom's largest light festival, was held in London for the first time this year. The event showcases different light installations, videos and interactive sculptures from artists all over the world.
More than 200 million Pfizer doses have been administered in the US, and hundreds of millions more worldwide, since December.
The local currency had gained 7 paise to close at 66.57 in Monday's trade.
In addition to supporting the president-elect, Klain will work to build a diverse, experienced and talented team to help President-elect Biden and Vice President-elect Kamala Harris meet the urgent challenges facing the country, a media release said.
Ukraine fears weighed on sentiment, with Russia rejecting a peace proposal amidst civil war-like situation in the former Soviet union republic.
Biden, 'plotting an ambitious presidency that would begin amid twin health and economic crises, is leaning on veteran advisers with high-level governmental experience rather than outsiders and ideological rivals to help guide him on subjects including the coronavirus pandemic and the country's diminished standing in the world', a report in The New York Times said.
India will have to show more willingness to import, and since Biden will not encourage sale of oil and gas to bridge the gap, it means there has to be more meaningful duty reduction in other areas even if Delhi baulks at a Free Trade Agreement so soon after walking out of RCEP.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
The US Federal Reserve has announced to maintain its bond purchase tapering programme.
The actor plays the role of J C Daniel who is regarded as the father of Malayalam cinema.
'Being able to stay home with him and grieve with him was invaluable.'
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