Country Financial News

Arvind Kejriwal on Friday sounded the poll bugle and asked AAP workers to go to every household in the national capital and tell people about the «conspiracies» of the BJP and ensure it doesn't get a single seat here in the 2024 Lok Sabha elections. Addressing a congregation of AAP workers (karyakarta sammelan), Kejriwal also told them to ask people in every household if they want him to continue to serve as the chief minister from jail in case he is arrested or should he resign. «I have no lust for the chief minister's post.

foreign exchange reserves dipped by $462 million to $590.32 billion for the week ending November 10, the latest data by the Reserve Bank of India (RBI) showed on Friday. Previously, forex reserves witnessed a surge of $4.67 billion to $590.78 billion for the week ending on November 3. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) increased by $108 million to $522 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves decreased by $608 million to $45.52 billion, while SDRs were up by $36 million to $18.01 billion. Reserve position in the IMF was up by $3 million to $4.79 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.

(This story originally appeared in on Nov 16, 2023)

Rohit Sharma-led Indian cricket team all set to face the Pat Cummins-led Australia on 19 November at Ahmedabad's Narendra Modi stadium for the high-adrenaline-filled ICC Men's World Cup final, hotel room tariff in Gujarat's Ahmedabad and airfares to the city have skyrocketed. According to a report by news agency PTI, the hotel room tariffs for the night of the match have gone up as high as ₹2 lakh in top five-star hotels in the city, while other hotels have also increased their rates by five to seven times.

RBI) and others to smoothen out various issues faced by the sector. "We (DGFT) are working with the RBI, and Indian banking association to streamline the process of export credit availability," Sarangi said.

Biden and Xi Jinping had more in common with a counseling session for a couple contemplating divorce. The premise: Let’s try to keep things civil for the kids. All week, fear of a new Cold War has loomed over San Francisco, where Asia-Pacific leaders are gathered. After four hours of talks on Wednesday, the US and Chinese presidents offered a glimpse of just how hard it’s going to be to manage their relationship away from that course. The meeting at the Filoli Estate, 30 miles south of San Francisco, was months in the planning. But when the stakes are high, and the differences fundamental, even the most arduous diplomatic groundwork can sometimes only yield small victories. The US and China have agreed to collaborate on climate and artificial intelligence, and resume military-to-military contacts. More American students will be welcomed in China, Chinese pandas may return to American zoos, and Xi vowed to crack down on fentanyl shipments. Bigger and more divisive issues like trade, tariffs leftover from the Trump years and competition over technology were set aside for now. Also largely unanswered after Wednesday’s talks was the question of what comes next. There are plans for working groups that will see middle-ranking officials meet occasionally, but no future high-level interactions were announced aside from a planned China trip by Treasury Secretary Janet Yellen, although the two leaders pledged to speak directly if tensions flared. And 2024, which starts with a presidential election in Taiwan and ends with another one in the US, is shaping up to be a crucial year for the world’s most important relationship.

Oil prices drop over $3 on China's demand concerns, US crude stock; Brent crashes to $78/bbl Both of these crucial benchmarks marked a 9.12% decline this month so far, reaching their lowest levels in four months. The substantial decrease in crude oil prices on Thursday followed a larger-than-anticipated build-up in U.S. oil inventories.

The e-commerce industry has suggested the government permit foreign direct investment (FDI) in inventory-based model of online trade only for export purposes, a senior government official said on Friday. 

While the Indian economy powers ahead to overtake many developed countries in terms of GDP growth, Millennial and GenZ citizens continue to form the bedrock of our nation’s demographic dividend and remain critical to its future success. Being more inclined towards adopting technological advancements, both across consumption and investment-related themes, this young working population ought to consciously invest in building a healthy corpus that can sustain their improved standards of living. To do this, it is critical for them to start investing early and follow a robust investment strategy that compounds savings while offering adequate insurance protection. Let us look at top smart money investment avenues and important insurance products that should be considered when creating such a holistic strategy.

The festive season is upon us, and stakeholders in India’s real estate sector have more than just the holiday cheer to be excited about this year. What has kept the growth momentum going for the second-largest employment sector in the country at a time when global economies are reeling under the impact of geo-political tension?

Congress leader Priyanka Gandhi Vadra said on Friday that the BJP is scattered in Rajasthan and it does not have a chief ministerial face in the upcoming state Assembly polls. The Congress general secretary also took a dig at Prime Minister Narendra Modi's frequent visits to the poll-bound state, saying it seems that he is out to find a chief ministerial face for the Bharatiya Janata Party (BJP).

Brazil's Para state, flocks of noisy green parrots soar overhead as children run and play between wooden homes, kicking up sandy soil — in places white and bare as a beach. The ground reveals one of the paradoxes of the rainforest. Renowned for its beauty and biodiversity, the life-giving nutrients of the forest are mostly stored in the trees and other plants, not the soil. When the forest is cleared — for a cattle ranch, soybean field or even a small cluster of village homes — the combination of scorching Amazonian sun and intense rainfall combine to leach scarce nutrients from the soil in just a few years, leaving behind surprisingly barren ground. This impoverished dirt makes it difficult to sustain agriculture in one place. And in a region with some of the highest poverty levels in Brazil, people with few options have often just abandoned degraded fields and cleared more forest — hastening the cycle of deforestation that threatens the planet’s climate and the millions of species unique to the Amazon. “The biodiversity is rich, but so many people are very poor,” said Judson Ferreira Valentim, a soil scientist for the government’s agricultural research agency, Embrapa.

Mastercard’s expert Ashok Venkateswaran has expressed skepticism about the current viability of widespread central bank digital currencies (CBDC), claiming that the broad adoption of CBDC could be “difficult,” according to CNBC.

₹1,133 per 10 gm in just four seconds during Thursday's evening trade. This spike occurred despite a stable dollar-priced gold market. The “unusual" surge took gold prices to ₹61,9.14 per 10 gm between 9:10 and 9:15 pm, prompting speculation among traders.

PCBL zoomed 10.19% to register a historic high of ₹244.90 apiece in today's trade. This propelled the stock to achieve a substantial gain of 84% in the current year, registering its best yearly performance since CY17. Looking at the long-term performance, the shares have delivered a 204% return over the last three-year period and over the last decade, the shares delivered a whopping return of 4,170%, climbing from ₹5.62 per share to the current position of ₹238.40.

Mark Mobius, whose name has been synonymous with investing in developing countries for a third of a century, isn’t planning to slow down even as he steps back from the firm that bears his name. The 87-year-old money manager said he’s busier than ever as he looks to set up a new venture in Dubai. The firm will be “involved in investment,” he said, declining to provide specifics because he said it’s still in the negotiating stage.

BharatPe cofounder Ashneer Grover and his wife Madhuri Jain were stopped at the Indira Gandhi International Airport Thursday on the basis of a look-out circular (LoC) issued against the two. The couple was travelling to New York, sources in the know told ET. The LoC was opened against the two at the request of the Economic Offences Wing (EoW) of the Delhi Police. Earlier in May, the EOW registered an FIR against the couple and some other family members for alleged misappropriation of funds and causing losses worth Rs 81 crore to Resilient Innovations Private Limited, which runs BharatPe.

China’s President Xi Jinping a “dictator". The video of Joe Biden calling Xi Jinping a “dictator" surfaced a day after Joe Biden met his Chinese counterpart Xi on the sidelines of the Asia-Pacific Economic Cooperation (APEC). Anthony Blinken, 61, visibly grimaced and was seen fiddling with his hands when Joe Biden said Xi “is a dictator in the sense that he is the guy who runs the country that is a communist country … based on a form of government different than ours" at a press conference.

Delhivery, the country's largest fully integrated logistics services provider, tumbled 3.70% in early trade on Friday, reaching ₹398.50 apiece. This downturn came after 1,74,57,113 shares of the company changed hands in a block deal window on Friday. The total worth of the transaction was around ₹722.18 crore.

Apple said in a statement that later next year they will be adding support for RCS Universal Profile which is the standard as per the GSM Association. “We believe RCS Universal Profile will offer a better interoperability experience when compared to SMS or MMS. This will work alongside iMessage, which will continue to be the best and most secure messaging experience for Apple users," told Apple to the publication.

Varun Fatehpuria, Founder & CEO of Daulat Finvest Private Limited says mid and small-cap segments have had a dream run this year but their valuations are at premium. He believes it is tough to see these premiums being maintained in Samvat 2080. In an interview with Mint, Fatehpuria shared his views on markets and sectors he is positive about.