The International Monetary Fund (IMF), in its latest World Economic Outlook report, has slashed its forecast for India's FY23 gross domestic product growth to 8.2 per cent from 9 per cent, saying that higher commodity prices will weigh on private consumption and investment. This was one of the steepest cuts for emerging economies compared to the IMF's January WEO forecasts. Saying that global economic prospects have worsened significantly due to commodity price volatility and disruption of supply chains caused by the war in Europe, IMF cut its global growth outlook for calendar year 2022 to 3.6 per cent from 4.4 per cent, and said both Russia and Ukraine could experience large GDP contractions.
In what is seen as the first sign of China's exasperation over Russia's Ukraine war, Chinese President Xi Jinping on Thursday raised 'questions and concerns' over the conflict in his meeting in Samarkand with Russian President Vladimir Putin who thanked Beijing for its 'balanced position' on the crisis.
'Transformation of Ukraine into some kind of permanent strategic challenger, which Russia would have to contain and deter, spend a significant part of political and strategic resources on it.'
'There is a cost to war.' 'The West knows that and so does Putin.' 'The point is, how much of the cost are both sides willing to pay?'
If there is a morality tale here, it is that debt and death spare no king.
Around 41 per cent of these companies saw such instances, compared to the global average of 29 per cent. India's number is higher than other countries such as the United States (26 per cent), the United Kingdom (32 per cent) and Japan (27 per cent). It is also worse than other emerging markets. China had 39 per cent of firms affected by data theft. It was 19 per cent and 16 per cent for Brazil and Russia, respectively.
Amid deepening crisis in Afghanistan, United States President Joe Biden defended his move to withdraw troops from the country, saying history will record this as a 'logical, rational, and right decision'.
China on Monday continued its unprecedented military drills around Taiwan, extending the schedule of war games launched in retaliation to the visit by US House Speaker Nancy Pelosi to the breakaway island which Beijing claims is part of its territory.
'The selling in India may emerge as soon as the RBI reverses its interest rate stance.'
As the economic crisis in Sri Lanka - the world's largest exporter of orthodox tea - continues to rage across the island nation, tea producers in India look to cash in on the opportunity to seize the market. The country's largest tea growing company, McLeod Russel India, expects orders to come in from July. "A huge opportunity is coming up for everyone in India. "McLeod Russel is well placed because we have the capacity for orthodox tea," said Azam Monem, director, McLeod Russel. About 10 per cent of McLeod's production is orthodox tea.
With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
Xi Jinping's recent actions in South Asia have amply demonstrated the disastrous impact of China's embrace, observes Jayadeva Ranade, the retired senior RA&W officer and China expert.
Meanwhile, retail jewellery sales in India have declined by 50 per cent since gold price started its uptrend nearly two weeks. Buyers deferred their fresh purchase amid expectations of a correction in gold prices from the current high level.
China will always try to set the agenda for negotiations and tries through such means to determine the direction of talks, and to avoid discussing subjects that may paint it into a corner or compel the Chinese negotiator to disclose their position prematurely.
Chinese Foreign Ministry spokesperson Hua Chunying, known for fiery retorts against the US, welcomed Biden's first moves to join the Paris Climate Accord and the World Health Organisation (WHO) which was trashed by Trump as a puppet of China over its conduct to deal with the COVID-19.
Alarmed and amazed by the 'mind-boggling' figure of over 42,000 flag poles existing across the state, the Kerala high court on Monday told the Left government that action under every applicable law must be taken against the perpetrators, irrespective of political affiliations.
'The pressure to work together is even greater than before, because the Chinese have launched a full-court press on the border, in the region, and globally to advance their geopolitical agenda.'
The government was also faced with problems on its balance of payments. It took steps to conserve declining foreign exchange reserves, and began to regulate the production, supply and distribution of gold. It banned forward trading in the yellow metal in November 1962, and introduced gold bonds as well, reveals the RBI's annual report for the year ending June 1963.
The government has taken several measures to clear the applications and that includes sanctioning of 373 additional posts in the patent wing.
Even as Pakistan continues to urge the international community to accept its membership to the Nuclear Suppliers Group, highly placed sources in the United States who are involved with the tracking of nuclear commerce have claimed that Islamabad is still selling nuclear materials to North Korea.
Ahead of Russian President Vladimir Putin's India visit, the United States has said it would not impact President Barack Obama's trip to the country in January but warned now was not the right time to do business with Russia.
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
'If a stranger refuses to pet my Russian dog, what treatment can I expect for myself?'
White House Press Secretary Kayleigh McEnany told reporters that US President Trump is frustrated with China.
India owes Iran around $8.8 billion primarily on account of crude oil imports.
Announcing a slew of measures for the sector, he said GST-registered micro, small and medium enterprises will be sanctioned a loan of Rs 1 crore in just 59 minutes through a new portal.
ONGC was the top loser in the Sensex pack, ending 3.48 per cent lower. Tata Steel, Vedanta, Bajaj Auto, TechM, RIL, Hero MotoCorp, Kotak Bank, Axis Bank, and Infosys too fell up to 2.33 per cent.
There is growing acceptance of the idea in the international community that engaging the Taliban government is a far better approach than ostracising it, observes Ambassador M K Bhadrakumar.
China, Russia, Iran and international terrorism form the 'big four' set of security threats in an era of dramatic change, Britain's chief spy said in a rare public speech on Tuesday.
'Had a very fruitful meeting with Iranian defence minister Brigadier General Amir Hatami in Tehran. We discussed regional security issues including Afghanistan and the issues of bilateral cooperation,' Singh said in a tweet.
'It is only when Beijing sees a country with an infirm political will such as India that it acts up as the PLA has done in eastern Ladakh.'
Bajaj Finance was the biggest gainer in the Sensex pack, spurting 3.64 per cent. Tata Motors, Infosys, Vedanta, ONGC, PowerGrid, NPTC, Axis Bank, ICICI Bank, Kotak Bank, SBI, HDFC Bank, Tata Steel, TCS and RIL too rose up to 3.48 per cent.
Vajpayee had always felt that India must act with conviction and panache. He decided that, irrespective of the attendant risks, he would undertake what many felt was a precarious course. A fascinating excerpt from N K Singh's Portraits Of Power: Half A Century Of Being At Ringside on Atalji's 96th birthday, December 25.
On June 12, history was made when United States President Donald Trump shook hands with North Korean leader Kim Jong-un and had extensive talks at Capella Hotel in Singapore. However, this meet has come after several twists and turns. Following is the chronology of key events leading to a historic summit between the two leaders.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
'The prospects for both India and the global economy is that we are headed towards a very difficult time.' 'I see very uncertain at least 8-10 months for both India and the rest of the world.'
India and China have already rejected the US' sanctions move.
The winners of the Natural History Museum's prestigious Wildlife Photographer of the Year competition were announced at an awards ceremony in London. American photographer Karine Aigner was announced as this year's Wildlife Photographer of the Year.
Sensex heavyweight Reliance Industries fell 2.76 per cent. In percentage terms, major laggards were Yes Bank, Indusind Bank, RIL, ICICI Bank, HDFC and Axis Bank -- plunging as much as 6.62 per cent.
