India Financial News

The Trump Organization says it has leased its brand to two new real estate projects in Saudi Arabia just weeks before President-elect Donald Trump returns to the White House

Speaking exclusively to PTI during his recent visit to the city to participate in a curtain-raiser event of the 16th edition of the Apeejay Kolkata Literary Festival, where his latest title 'Chhaunk: On Food, Economics and Society' was launched, Banerjee said he felt India's «explicit political preference for Hindu migrants from Bangladesh» is what prompted the population to leave their homeland in the past, rather than the attacks on the community. «People always leave for another country where they have their families or to a richer nation where the economic opportunities are higher,» the Nobel laureate said, «I am not surprised that Hindu Bengalis have left Bangladesh and settled in, say, large pockets of Assam because of India's overt preference for Hindus instead of Muslims.»

Shaktikanta Das, another finance ministry bureaucrat has been appointed as the governor of the Reserve Bank of India (RBI). Revenue Secretary Sanjay Malhotra will replace Das. Economists were speculating over the future of Das in the wake of data showing the South Asian economy expanded 5.4% from July to September, a seven-quarter low and far below the Reserve Bank of India’s 7% projection, Bloomberg reported. When Shaktikanta Das joined the central bank six years ago, he had waded into a government-RBI rift. A deft bureaucrat like his predecessors Duvvuri Subbarao and YV Reddy, Das had a tough job: to clean the mess left by high-profile economists Raghuram Rajan and Urjit Patel whose tenure at the helm of the RBI was marked by spats with the government, erosion of confidence and high uncertainty. Now, when expectations for a rate cut have spiked after a long rate pause and the GDP dip, Malhotra will be heading the Monetary Policy Committee (MPC) when it considers a rate cut in its February meeting.

Mamata Banerjee on Monday strongly reacted to provocative statements by a section of Bangladeshi politicians that Bangladesh could occupy Bengal within days, calling them «absurd» and dismissing it by saying, «you will occupy Bengal, Bihar, and Odisha, and we will have lollipops?» While addressing the West Bengal Assembly, Banerjee, without naming anyone, condemned the circulation of certain fake videos on this side of the border and blamed a certain political party for attempting to stoke tensions in the state. The chief minister condemned the persecution of minorities in Bangladesh, calling it unacceptable, and stressed the need for unity among India's religious communities. Banerjee strongly rejected provocative statements from across the border, including a Bangladesh Nationalist Party (BNP) leader who said that Bangladesh has claims over Bengal, Bihar, and Odisha, and a viral video featuring Bangladesh Army veterans suggesting the country could occupy West Bengal within days, remarking, «You will occupy Bengal, Bihar, and Odisha, and we will have lollipops? Don't even think that.»

Sanjay Malhotra on Monday was appointed as the 26th Governor of the Reserve Bank of India as current Governor Shaktikanta Das' term ends on Tuesday. Malhotra, a 1990 Batch Rajasthan Cadre IAS Officer, will assume office on December 11, 2024 for a period of three years, the appointment committee of the cabinet said in a notification. His appointment comes at a critical juncture as the RBI battles challenges like inflation control and slowing down of economic growth.

dynasty politics and consider it as family property. Virtually addressing an event organized by Ramkrishna Math at Lekhamba village near Sanand town here, the PM said the Young Leaders' Dialogue will be organised in Delhi on the birth anniversary of Swami Vivekananda to «make a new beginning' towards this aim. In his address, PM Modi said spiritual leader Swami Vivekananda, the founder of Ramakrishna Math and Ramakrishna Mission, was of the opinion that participation of youths will be crucial for the development of the nation. „Along with technology and other sectors, it is needed that our youngsters lead our country in politics too because we cannot leave it to those who believe only in dynasty politics. We cannot hand over politics to those who consider politics as their family's property“ the PM said. »That is why we are going to make a new beginning. On the occasion of Swami Vivekananda's birth anniversary, we are organising Young Leaders' Dialogue in Delhi. While 2,000 selected youths will remain present in person, crores of youths will join the event with the help of technology," Modi said. At the event, youths will discuss India's resolve to turn the country into a developed one, he said, adding a roadmap will be prepared on how youth participation in politics can be increased.

Rajnath Singh attended the Commissioning Ceremony of INS Tushil at Russia's Kaliningrad on Monday. In a post on X, Defence Minister's Office stated, «Raksha Mantri Shri @rajnathsingh attending the Commissioning Ceremony of #INSTushil at Kaliningrad, Russia.»

Dharmendra Pradhan on Monday attacked Congress leader Rahul Gandhi over protests by opposition members in Parliament complex and termed him «comedy king» who is trying to stay relevant. Leaders of some INDIA bloc parties on Monday protested in Parliament complex over the Adani row, with Gandhi conducting a mock 'interview' over the issue with Congress members wearing masks of Prime Minister Narendra Modi and industrialist Gautam Adani «Rahul Gandhi is indulging in what he does best — Stand-up comedy! His malicious claims and rants have crumbled under the weight of comprehensive investigation every time. Playing the role of a pawn to perfection, he yet again attempts to mislead despite his misinformation campaigns failing to cut ice with the people of India,» Pradhan wrote on X tagging a video of the protest.

A ‘Non-Resident Indian’ (NRI) is a citizen of India who resides outside India. An NRI account can be opened jointly with a resident Indian on a former or survivor basis. There are different types of NRI accounts, including Non-Resident External (NRE), Non-Resident Ordinary (NRO), and Foreign Currency Non-Resident (FCNR) accounts. For NRIs looking to invest and retain their foreign currency while simultaneously earning high returns, FCNR (B) accounts can be a great choice. Most banks book FCNR deposits in the US Dollars, Pounds Sterling, Euro, Japanese Yen, Australian Dollars, Canadian Dollars.

Levis, Bata, Puma, Woodland, Wrangler, Biba, Adidas, Flipkart, Myntra, Nykaa Fashion, Shoppers Stop and Lifestyle are some who have already started discounting in online or stores or both, coming days after the heavy discounting during the Black Friday weekend sale in end-November. “Winter has become shorter and there is no point dragging inventory for a longer period,” said shoe and apparel brand Woodland India chief executive Harkirat Singh. The retailer started its sale earliest ever this year but Singh said discount is steep only on the slow sellers unlike previous two years when it was across the board.

Sanjay Malhotra as the new governor of Reserve Bank of India. Malhotra is set to replace Shaktikanta Das whose tenure ends of December 10.

Simbhaoli Sugars Ltd.(up 1.11%), Shree Renuka Sugars Ltd.(up 0.89%), Dhampur Sugar Mills Ltd.(up 0.66%), Rajshree Sugars & Chemicals Ltd.(up 0.61%), Rana Sugars Ltd.(up 0.55%), Bajaj Hindusthan Sugar Ltd.(up 0.45%), Uttam Sugar Mills Ltd.(up 0.34%), DCM Shriram Industries Ltd.(up 0.22%), KM Sugar Mills Ltd.(up 0.12%) and Ponni Sugars(Erode)Ltd.(up 0.10%) stood among the top gainers.

The report highlights the dynamic nature of India's job market, where artificial intelligence, machine learning, and automation are becoming integral. «While global trust in governments to support upskilling remains low at 20 per cent, Indian respondents (31 per cent) and those in Saudi Arabia (35 per cent) demonstrated significantly higher confidence in their governments.

Shares of Natco Pharma Ltd.(up 2.48 per cent), Mankind Pharma Ltd.(up 2.05 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.07 per cent), Granules India Ltd.(up 0.78 per cent) and Abbott India Ltd.(up 0.27 per cent) ended the day as top gainers in the pack.

Indian Navy's Russian-manufactured guided missile frigate INS Tushil was commissioned into the force at Russia's coastal city of Kaliningrad on Monday. Defence Minister Rajnath Singh, Chief of Naval Staff Admiral Dinesh K Tripathi and several other senior Indian officials were present at the commissioning ceremony. INS Tushil is expected to significantly bolster the Indian Navy's operational capability in the Indian Ocean, a region that has witnessed increasing forays by China's PLA Navy in the last few years. The warship has been constructed in Russia as part of an over USD 2.5-billion deal that New Delhi had inked with Moscow in 2016 for four stealth frigates for the Indian Navy.

George Soros Foundation-funded organisation's activities. Addressing a press conference at the BJP headquarters here, party national spokesperson Sudhanshu Trivedi alleged that a «systematic anti-India experiment» was underway and the dots were now connecting. «The Congress' hand is with foreign forces. It's clearly visible now. The Congress wants to make the country's condition worse,» he said, a day after the BJP alleged that Sonia Gandhi had links to the Forum of the Democratic Leaders-Asia Pacific (FDL-AP) Foundation, an organisation financed by George Soros Foundation, which has backed the idea of Kashmir as an independent nation. This association shows the influence of foreign entities in India's internal affairs, the ruling party said in a series of posts on X.

Comprehensive Economic Cooperation Agreement (CECA), the government said Monday. The two sides discussed critical areas of the proposed agreement, including trade in goods, services, mobility, agri-tech cooperation, among others during a three-day stocktake meeting held from December 4-6. “The discussions also centred on market access modalities that align with India’s food security objectives,” the commerce and industry ministry department said in a statement.

gold smuggling attempt involving three passengers on a flight from Almaty, Uzbekistan to Delhi after their suspicious behaviour during the journey raised alarms. The eagle-eyed staff onboard the flight alerted the captain who contacted customs officers at Delhi's IGI airport to intercept the passengers. The incident occurred aboard a flight en route to India, a three-and-a-half-hour late-night journey. While most passengers accepted meal services, three individuals repeatedly refused offerings from the air hostess, including water and tea. Their unusual stillness and abrupt refusals drew the air hostess’s attention, prompting her to inform the flight captain. Acting on her concerns, the captain alerted customs officials via air traffic control.

The NSE Nifty index ended the session 58.8 points down at 24619.0, while BSE Sensex 200.66 points to 81508.46.

Bohra Industries Ltd.(up 3.51%), Krishana Phoschem Ltd.(up 0.99%), Agro Phos India Ltd.(up 0.68%), Zuari Agro Chemicals Ltd.(up 0.61%), Coromandel International Ltd.(up 0.42%) and Nagarjuna Fertilizers and Chemicals Ltd.(up 0.10%) stood among the top gainers.