Country Financial News

RBI) may need to continue with disinflationary monetary policy and it has to remain cautious as the pressure stemming from persistently high food prices is spilling over into other components of inflation and shaping household perceptions on prices, a central bank article said. «Food price shocks may lie outside the realm of monetary policy, but when they result in food inflation acquiring persistence and spilling over into other components of inflation and into consumer behaviour, the monetary policy must be disinflationary to quell these price pressures in order to achieve its mandate of price stability and thereby retain credibility,» deputy governor Michael Debabrata Patra said in the article, co-authored by Joice John and Asish Thomas George. They said that the country is facing the danger of losing the beneficial effects of low core inflation if food prices cannot be anchored. Core inflation has been restrained through monetary policy tightening.

index and a fall in crude oil prices which softens India's inflation and trade deficit. The rupee closed at 83.87 against the US dollar, versus its previous close of 83.94/$1 on Friday, LSEG data showed. The currency strengthened to 83.84 during the day, the strongest since 6th August, but dollar demand from public sector banks capped its gains, traders said.

mpox in Pakistan announced last week was not the new strain spreading through Africa, health officials said Monday. The mpox diagnosis in a 34-year-old man recently returned from a Gulf country was declared by health officials on Friday, while testing over the exact strain was carried out. «The virus has been classified as Clade 2b,» the health ministry said in a statement on Monday.

RBI) said in its monthly bulletin on Monday. This trend marks a significant revival in external borrowing, reflecting the evolving dynamics of the domestic credit landscape, it added. It is to be noted that Foreign direct investment (FDI) inflows into India fell to $28.1 billion in 2023 from $49.3 billion in 2022. The country slipped seven notches to rank 15 in the World Investment Ranking, marking a dull 2023.

It is helpful when investing to have a near-term view balanced by a longer-term one looking for trends that could turn into opportunities or realized risks.

Imagine sending a secret message to someone. Traditionally, you might use a unique code or encryption to keep it safe from prying eyes. But can you guarantee that no one intercepts or tampers with your message, especially without being detected? That’s where quantum cryptography comes in.

BEIJING — The U.S. and China last week signed agreements for cooperating on financial stability, according to a People's Bank of China readout Monday.

trade war between the world's two largest economies, Easy Signs would now be hiring dozens of workers at its factory in Allentown, Pennsylvania. It would be readying plans to build a second plant somewhere out West — Salt Lake City was a contender — generating another 100 jobs. Based in Australia, Easy Signs manufactures banners and marketing installations for corporate events, using huge printers to press logos and slogans onto rolls of cloth. Its American business has been growing 70% a year. Still, the company is putting off an expansion. Its cloth signs are displayed on aluminum stands made in China. Those products are now subject to a series of tariffs reaching as high as 365% under a policy set in motion by former President Donald Trump and continued by the Biden administration in the name of protecting American industry from Chinese government subsidies.

Ukraine, the External Affairs Ministry said today. It will be Modi's first trip to the war-torn country since its conflict with Russia and about a month after he met President Vladimir Putin in Moscow. Details of the trip will be shared later in the day, Reuters reported quoting the foreign ministry. Modi is expected to visit Ukraine between August 21 and 23, ET had reported earlier. It comes just over a month after Modi visited Russia and Austria. Western capitals have imposed sanctions on Moscow following its invasion of Ukraine in 2022, but friendly nations such as India and China have continued to trade with it.

World Nomad Games, often described as the Olympics of Central Asia, are just around the corner, ready to bring together the diverse and historically rich cultures of nomadic peoples from across the globe. From September 8 to 13, Astana, the capital of Kazakhstan will host this. The World Nomad Games are a competition and are a celebration of the ancient sports and lifestyles that have been passed down through generations. Over 2,000 participants from around 100 countries will converge in Astana to compete in 21 sports that reflect the skills and traditions of nomadic peoples. The fifth World Nomad Games in Astana will showcase not only sporting events but also intellectual disciplines. This year’s program includes exotic sports such as mas-wrestling, the national sport of Yakutia; Ovari, an intellectual game from West Africa; and Mangala, a strategic game from Türkiye. Ovari, an intellectual game from West Africa, was first documented by English explorer Richard Jobson in 1620.

Samajwadi Party (SP) chief Akhilesh Yadav launched a scathing attack on the Centre over lateral entry into government jobs and said that this is a «big conspiracy» against the country. The SP MP alleged that the lateral entry is a plan to snatch away the reservation and rights from PDA (Pichhde, Dalit, and Alpsankhyak). «The time has come to launch a nationwide movement against the conspiracy being hatched by the BJP to place its ideological allies in high government positions through the back door in UPSC. This method will close the doors for today's officers as well as for the youth to reach higher positions in the present and future. Common people will be limited to the positions of clerks and peons. In fact, the whole plan is to snatch away reservations and rights from PDA,» the SP chief posted on X.

TMC) MP Saket Gokhale on Monday accused Bharatiya Janata Party (BJP) of unleashing a sinister toolkit in West Bengal with an agenda to topple the state government. In a post on X (formerly Twitter), he said, «There's an organized campaign being run by BJP by trending 'Mamata Must Resign'.' »It's been 5 days since CBI took over the case & there are ZERO updates. But not a SINGLE protest has been done against CBI. Genuine protestors have now been replaced by BJYM & BJP workers on the streets of Kolkata. In their own words: the ONLY agenda is toppling the Govt," he added.

fuel has provoked no end of excitement. From the deserts of Australia and Namibia to the wind-blasted straits of Patagonia, companies and governments worldwide plan to build almost 1,600 plants to make it. The gas can be produced cleanly by using wind- or solar-powered electricity in a process that splits the molecule from water. There’s only one problem: The vast majority of those projects don’t have a single customer stepping up to buy the fuel. Among the handful with some kind of fuel purchase agreement, most have vague, nonbinding arrangements that can be quietly discarded if the potential buyers back out. As a result, many of the projects now touted with great fanfare by countries vying to become “the Saudi Arabia of hydrogen” will likely never get built. Just 12% of hydrogen plants considered low-carbon because they avoid natural gas or mitigate emissions have customers with agreements to use the fuel, according to BloombergNEF. The media could not be loaded, either because the server or network failed or because the format is not supported.

Biden addressed an adoring crowd at the Democratic National Convention in Denver, his smile radiating confidence about the country's future and his own journey. The soon-to-be vice president hugged his son Beau. He spoke about how his own parents had endowed him with a sense of grit and tenacity. «Champ, when you get knocked down, get up,» he recalled his father, Joe, saying. Biden then repeated the lesson taught to him by his mother, Catherine Eugenia Finnegan Biden, who was seated in the audience: «Failure at some point in your life is inevitable, but giving up is unforgivable.»

The scorching summer that India just trudged past was yet another reminder of a rapidly warming Earth, with temperatures soaring to almost 50° Celsius in one of our longest heatwave spells. The country logged more than 40,000 suspected cases of heatstroke, with a death toll of over 100 people. But 2024 stands out for another reason: a shift in the Pacific Ocean’s see-saw of warm and cool water along the equator, a phenomenon that distorts weather around the globe.

Edited excerpts from the interview: Life has taught me that investing goes through phases. There are times when making money seems easy, and you must stay grounded. And then there will be times when returns are elusive, where you shouldn't lose hope.

₹2,400-3,000 crore, translating to ₹4-5 crore per MW, the people cited above said on the condition of anonymity. A potential acquisition would help India's largest private thermal power producer capitalize on the rising electricity demand in the country. "Adani Power is negotiating with CFM Asset Reconstruction Co.

Narendra Modi has been continuously monitoring the Mpox (monkeypox) situation, the government said on Sunday. PK Mishra, Principal Secretary to the PM, chaired a high-level meeting to review the status of preparedness for Mpox in the country and related public health measures. The meeting was briefed that as of now there is no reported case of Mpox in the country. As per the current assessment, the risk of a large outbreak with sustained transmission is «low». The WHO has declared Mpox a health emergency of international concern.

Narayana Murthy, co-founder of Infosys, highlighted the issue of India's rising population as a major challenge during the convocation ceremony at Motilal Nehru National Institute of Technology in Prayagraj on Sunday. He stressed that inadequate attention to population control since the Emergency period threatens the country's sustainability. «India faces significant challenges related to population, per capita land availability, and healthcare facilities,» Murthy stated. He elaborated by comparing India with other nations, saying, «Since the Emergency period, we Indians have not paid enough attention to population control. This poses a risk of making our country unsustainable. In comparison, countries such as the US, Brazil and China have far higher per capita land availability.»

academic institutions, including the Indian Institute of Technology received notices from goods and services tax (GST) authorities for non-payment of tax. «The ministry of education has taken up the matter with the finance ministry. It is looking into it, » said a government official, privy to the development. A host of academic institutions countrywide including IIT-D have been served show cause notice seeking explanation on non-payment of tax on funding support for research by GST authorities. Notices have been sent by the Directorate General of GST Intelligence for the period between 2017-2022.

Gita Gopinath said, while flagging concerns around the growing sentiment against de-globalisation and protectionism. She said countries are certainly becoming more selective about their trading partners. “In that sense, India is in a bit of a favoured position because for many countries, India is an attractive country to work with in terms of diversifying their trading partners… so that plays a beneficial role for India,” Gopinath told ET.