In a speech to the Institute of Directors, a London-based group of business heads, Brown said that protectionist 'sentiments are growing' not only because of the current credit crunch and rises in fuel and food prices, but also due to the longer term challenge posed by the rise of Asia, particularly India and China.
Here are five talking points from the weekend's action in La Liga.
The government is considering blocking internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening, said a source in the know. Two months ago, the government had said it intended to bring a Bill to ban private cryptocurrencies and introduce India's own digital currency in line with what China and other countries had done. This move is part of that. The government had also proposed to promote technology like blockchain. Industry, however, says banning decentralised currencies like bitcoin and ethereum is not possible.
The steep fall in rupee came on a day when the Reserve Bank of India in its first quarter review of monetary policy kept the all key rates unchanged but cut the gross domestic growth forecast to 5.5 per cent for FY'14 from 5.7 per cent earlier.
Carrying their baggage, thousands of people are leaving the port town of Paradip to escape the wrath of the severe cyclonic storm 'Phailin' which is expected to make landfall in Odisha in less than 24 hours.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
Big pharma companies, however, said while it was true that formulation players would not rush to buy raw material, they could not afford losing customers.
Banks bore the brunt of the sell-off.
Power Grid is one of the more promising stocks from the newer listings and I would surely look at it even at current levels. Even when the market fell viciously Power Grid didn't fall as much, says market expert Pranav Sanghavi.
With Indian jewellery market already on the robust recovery path, the jewellers are expecting strong Diwali sales in the Dhanteras as the festive mood remains high with low Covid third wave possibility and softer gold price this season. The industry expects the trends in 2021 will be able to reach pre-covid level sales of 2019 on the back of gold price hovering at Rs 46,000-47,000 per 22 carat 10 grams gold nearly 5 per cent lower than 2020, and jump in number of weddings, a senior official of an industry body said. "Since Navratri market is showing demand. It will continue on Dhanteras also.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
Wounded VfL Wolfsburg, who drew 1-1 with Hanover 96 on Saturday after being crushed 5-1 by Bayern Munich last week, will meet Manchester United in Wednesday's Champions League game.
'The only good thing that has come out of our current situation is that it has brought communities closer.' NRIs describe the impact coronavirus is having on their lives.
One Chinese source informed ANI that 10 million new infections are probably occurring daily in China.
Theoretically, the currency with the public should expand in sync with the nominal income, which again moves in relation to the nominal growth rate of the economy. But the correlation breaks easily when other factors come into play, says Anup Roy.
Talks with government officials on VAT waiver fails.
The fast-growing, high-margin branded spices business is turning out to be an interesting growth opportunity, which to an extent was reflected in the Sunrise-ITC deal, with multiple parties from PE to strategic players joining the fray.
The mutual fund industry is certain that the Sensex, which plunged to below 16,000-level on Friday, has hit rock bottom and there is only one way the market would move from here, which is upward. The move to provide more disposable income in the hands of individuals is also good for the markets. The Asset Management Companies are of the opinion that the India growth story is definitely on as far as the medium-to-long-term future is concerned.
'If the epidemic is sharply contained in a month or two, we have a huge buying opportunity. 'If not, we are staring at a serious economic crisis, the contours of which we are totally unaware of,' warns Debashis Basu.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
In his second national broadcast in a week on the pandemic raging across much of the world with the number of infections rising in India, Modi made a fervent appeal to the countrymen not to cross the 'lakshman rekha' of their homes in the next three weeks.
Multi-cap funds are best suited to exploit the present market scenario as they are free to invest across all market capitalisations and sectors, says Naveen Kukreja, CEO and co-founder, Paisabazaar.com.
Stranger Things Season 4 is dedicatedly macabre and menacing, its deadly ambitions and volatile tempo keeps the mood edge-of-the-seat, applauds Sukanya Verma.
... and I learn more about economic trends than from books, says Ajit Balakrishnan.
The tea industry, hit by rising costs, falling prices and political unrest in the North Bengal plantations, is especially vulnerable to the COVID-19 lockdown.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
SBI was the biggest gainer in the Sensex pack, rallying up to 12 per cent, followed by Sun Pharma, HDFC, Tata Steel, Bajaj Finance, Maruti, ICICI Bank and Bharti Airtel.
'She seems to have disappeared off the face of the planet after telling different people different things.'
Four people have died including one each in Delhi, Karnataka, Punjab and Maharashtra.
'Indian Railways will run 200 non-AC trains daily as per the time table from June 1 for which online booking will start soon,' Goyal said in a tweet. He also said that within the next two days Indian Railways will double the number of Shramik Special Trains to 400 per day.
Tennis world number one Novak Djokovic pledged one million euros ($1.10 million) to help buy ventilators and other medical equipment in his native Serbia on Friday, joining a list of other athletes in the fight against coronavirus.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
Facing accusations of delay in placing orders for vaccines, the government on Thursday defended its vaccine procurement policy saying it has been pursuing Pfizer, J&J and Moderna since mid-2020 for the earliest possible imports, and has even waived local trials for well-established foreign vaccine makers.
The governor requested the political leaders to ask their supporters to maintain calm and not believe exaggerated and unfounded rumours being circulated all around.
The order led to panic in Kashmir which has remained tense for the past few days after the Centre ordered deployment of 100 companies of additional troops in the valley.
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
'It is not about trusting the governor but the ground situation not matching with what he has said,' Jammu and Kashmir People's Movement chief Shah Faesal, who was one of the leaders to meet the governor tells Rediff.com's Prasanna D Zore.
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