Department Financial News

UAE Weather: Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council in the United Arab Emirates (UAE) has ordered work-from-home for all employees today, April 16, NDTV reported. The decision that all Ajman government employees will work remotely on April 16 comes amid adverse weather changes in the region, it added. This ruling applies to workers in all government offices in Ajman, except for those with duties that must be done in person as decided by the competent authority in each department, it said.

Arvind Kejriwal, who is in Tihar jail, will meet two ministers each week and review the progress of the work in their departments, Aam Aadmi Party (AAP) said. Arrested by the Enforcement Directorate on March 21, Kejriwal is currently in judicial custody. Party's Rajya Sabha member Sandeep Pathak and Punjab chief minister Bhagwant Mann met Kejriwal in Tihar jail on April 15.

Elon Musk's satellite internet venture Starlink has received an in-principle approval from the telecom ministry. This approval clears a critical hurdle that the venture has been facing for almost three-and-a-half years. The approval process is now at the desk of communications minister Ashwini Vaishnaw, awaiting final vetting by the home ministry over certain security matters, according to highly-placed sources. One of the sources as reported by TOI stated, «The commercial part has been examined on issues, such as, foreign investment and net worth. The essential examination shows that it (Starlink's application) is in line with the (official) guidelines. Thus, it has been approved.» The source further mentioned that the technical requirements have also been examined as per the license conditions. «The technical requirements have been examined as per the licence conditions,» the source said, adding, the company has also submitted a «declaration» regarding its ownership.

India has showcased itself as a global leader, the top intelligence official from the US Department of Defense has told the Congress that in 2023, India took steps to modernise its military to compete with China and reduce its dependency on Russian origin-equipment. «During the past year, India has showcased itself as a global leader by hosting the Group of 20 economic summit and demonstrated a greater willingness to counter PRC (People's Republic of China) activity throughout the Indo-Pacific region,» Lt Gen Jeffrey Kruse, Director of the Defense Intelligence Agency told members of the House Armed Services Committee — the subcommittee on intelligence and special operations during a Congressional hearing on defence intelligence countering China. India, he said, has advanced partnerships in the Indo-Pacific with regional South China Sea claimants, such as the Philippines, through training and defence sales and deepened cooperation with the US, Australia, France and Japan.

Former Council of Economic Advisers Chair Kevin Hassett joins ‘Kudlow’ to discuss ‘pressure’ that could cause the Fed to increase rates as much as another percentage point.

“This is a part of the government’s broader intention to enhance the proportion of domestic capital invested into Indian startups,” one of the officials said.

India Meteorological Department (IMD) forecast “above normal” rain for the June-September monsoon, boosting prospects of a bountiful agricultural harvest that will likely ease inflationary pressure and bolster growth. This follows uneven rain in 2023, mainly due to the El Niño effect, leading to patchy farm output that pushed up food prices and kept the central bank from cutting interest rates. Rain in the country’s southwest is expected to be 106% of the long period average (LPA), with a 5% margin of error. IMD defines average or normal rainfall as ranging between 96% and 104% of a 50- year average of 87 cm for the season. The department announced the monsoon forecast on Monday.

Jaypee Infratech Ltd (JIL), taking note of the «endless litigation» affecting 22,000 homebuyers of the debt-laden realty company. It asked the Central Board of Direct Taxes to examine the department's assessment order and file an affidavit within four weeks. A bench led by Justice Sanjiv Khanna also issued notice to the Commissioner of Income Tax, Noida, as to why its order should not be quashed.

WASHINGTON—The Supreme Court for years has been making it more challenging for prosecutors to bring corruption cases against public officials, guided by the belief that some of the dealmaking and fundraising in the political realm is unseemly but not illegal. A new batch of cases making their way through the courts shows that where to draw the line remains in flux. In New York, a U.S.

Abhishek Banerjee was inspected by the authorities in West Bengal. EC sources were quoted by PTI as saying that Chief Election Commissioner Rajiv Kumar's had earlier stressed on strict compliance of BCAS instructions on surveillance and inspection of non-scheduled aircraft and helicopters by the Income Tax department, airport authorities and the SPs of concerned districts. "The Commission during reviews had always emphasised that there will be multi-pronged surveillance on all modes of transport -- check posts and nakas for road transport, Coast Guard for coastal routes and DMs and SPs alongside agencies for air routes including checking of helicopters and non-scheduled flights," the statement said.

Subramaniam was previously chief economist and head of asset management at the firm, where she has worked for over 24 years. Before joining Sarasin, she was a macroeconomist for Asia in sovereign research at UBS in Zurich. Trio of analysts departs Sarasin & Partners Her role as head of asset management has been assumed by partner and investment manager Sam Jeffries. He is also a director of Sarasin Investment Funds and former chair of the firm's investment policy committee. Jeffries joined the firm in 2007 from Baring Asset Management, where he managed international private client ...

Congress MLA in Madhya Pradesh's Chhindwara district after receiving a complaint of hoarding of cash and liquor but no such recovery was made, an official said on Monday. The opposition Congress, including state unit chief Jitu Patwari and senior leader Kamal Nath, termed it as harassment of its tribal MLA Nilesh Uikey through misuse of power by the BJP government. Superintendent of Police Manoj Khatri said following a complaint about hoarding of cash and liquor, a team of police and excise department personnel searched several places in Rajola Raiyat village on Sunday evening. But, the team returned after not finding anything at those places, he said.

India Meteorological Department has forecast a heatwave in several regions, including North Goa, Telangana, Andhra Pradesh, and West Bengal. The India Meteorological Department (IMD) has alerted Mumbai and several other regions in Maharashtra about impending heat conditions on April 15 and April 16, 2024. The department forecasts maximum temperatures ranging from 36 to 38 degrees Celsius for Mumbai, Raigad, and Thane, issuing a heatwave warning for these areas. In North Goa, heat wave conditions are predicted to prevail on the 15th and 16th of April, 2024. Similarly, Odisha is likely to witness intense heat wave conditions from the 15th to the 19th of April, posing significant challenges for residents and authorities alike.

Every year, the Centre announces dearness allowance (DA) hike twice: usually in March and again in September or October. However, more than one crore central government employees and pensioners are given the hike effective January and July every year, along with arrears.

India is likely to witness ‘above normal’ monsoon this year, said the India Meteorological Department (IMD) Monday. It added that the rainfall is likely to be 106 per cent of LPA with a model error of ± 5 per cent. The cumulative rainfall is estimated at 106 per cent of the long-period average (LPA) of 87 cm, the IMD said in a release. 

Ministry of Power has asked all thermal plants using imported coal to operate at full capacity for another three and a half months till October 15 to avoid electricity shortage amid rising demand in the country. The ministry has projected peak power demand of 260 GW during the summer season (April to June) in view of longer heat wave duration. Peak power demand had touched all-time higher of 243 GW in September 2023. The India Meteorological Department (IMD) has predicted above-normal maximum temperatures in most parts of the country during summer this year. A power ministry notice to 15 imported coal-based thermal power projects on April 12 stated, «It has now been decided to extend the time period for Section 11 directive to generating companies having imported coal-based plants, up to October 15, 2024.»

Vedanta Ltd. has mandated JPMorgan Chase & Co. to help it raise 25 billion rupees ($300 million) via rupee-denominated bonds, according to people familiar with the matter. JPMorgan’s financing-solutions department in India, headed by Nitin Rungta, is reaching out to potential investors on behalf of the metals and mining company, according to people who asked not to be identified as the information is private. Those investors include global private credit funds, they said.

Vi announced FPO worth Rs 18,000 crore, in addition to the recent Rs 2,000 crore preferential equity issuance to promoters.

Supreme Court on Monday adjourned the medical bail plea of Prabir Purkayastha, Newsclick founder and Editor-in-Chief, lodged in Tihar jail under anti-terror law, for April 22. A bench of Justices BR Gavai and Sandeep Mehta adjourned to next Monday the plea of Purkayashta, seeking bail on medical ground, as senior advocate Kapil Sibal representing him was unavailable. Earlier, the apex court had directed the All India Institute of Medical Sciences (AIIMS) to set up a medical board to examine the health condition of Purkayastha.

shooting incident that took place on the city's South side when everybody was standing outside a family gathering on Saturday night, said police. The cop stated that an 8-year-old girl was fatally shot, while a 1-year-old and a 8-year-old boy were shot multiple times in what Chicago police believe was gang-related violence. Speaking to media persons, Department Deputy Chief Don Jerome said the shooting happened when the offenders fired at a crowd standing outside a family gathering around 9 pm on Saturday.

Top Events of The Day: PM Modi is scheduled to visit Kerala. Ramdevbaba Solvent IPO price band has been set at the price of ₹80 to ₹85 apiece with a face value of ₹10 each. SC will hear Delhi CM Arvind Kejriwal's plea challenging ED arrest and remand on April 15.