Business
Modi promises full cooperation to Lanka in forex crisis
Sri Lankan Finance Minister Basil Rajapaksa on Friday said that Prime Minister Narendra Modi has assured Colombo of full cooperation in all economic and social matters, including backing at international forums, to further intensify the close bilateral ties. Speaking to reporters after he returned from India, where he clinched...
India eying more cheap Russian Oil
India may take up a Russian offer to buy crude oil and other commodities at a discount, two Indian officials said, in a sign that Delhi wants to keep its key trading partner on board despite Western attempts to isolate Moscow through sanctions. U.S. officials have said in recent...
World Bank warns inflation may trigger riots
Soaring energy and food prices triggered by Russia’s invasion of Ukraine could exacerbate existing food security concerns in the Middle East and Africa, and may fuel growing social unrest, World Bank chief economist Carmen Reinhart said. Germany will host a virtual meeting of agriculture ministers from the Group of Seven...
Rupee hits lifetime low at 76.9 per dollar
The Indian rupee hit a lifetime low in opening deals on Monday as a sharp surge in global crude oil prices threatened to push up imported inflation and widen the country’s trade and current account deficits. The partially convertible rupee was trading at 76.92/93 per dollar, after touching 76.96, its weakest level ever....
IT firms’ work from home ends
Work from home began for most employees when the first Covid-19 lockdown was announced. Now, almost after two years when there is a visible decline in the number of Covid-19 cases, several IT firms are gearing up to call their staff back to offices. However, in a slight respite to...
Rupee trade with Russia planned to soften sanctions
India is exploring ways to set up a rupee payment mechanism for trade with Russia to soften the blow on New Delhi of Western sanctions imposed on Russia after its invasion of Ukraine, government and banking sources said. Indian officials are concerned that vital supplies of fertilizer from Russia...
Russia-Ukraine war drags Sensex 2,000 points lower
Indian benchmark indices entered correction territory as Russian President Vladimir Putin announced military operations in Eastern Ukraine on Thursday. The Nifty 50 and Sensex have now fallen more than 10 per cent from their recent highs after the brief recovery seen in January. Both the benchmark indices were at...
CBI files case against ABG Shipyard for Rs22,842-cr loan fraud
ABG Shipyard Limited, one of the India’s largest private sector shipyard firm, has been booked in a bank fraud case by the Central Bureau of Investigation (CBI). On Saturday, the CBI filed a case against ABG Shipyard and its then chairman and managing director Rishi Agarwal, and others for allegedly...
SC sets aside HC order for attaching Future, Biyani assets
In a relief for Kishore Biyani-led Future Group, the Supreme Court on Tuesday set aside Delhi High Court order declining stay on an arbitration tribunal decision refusing to interfere with the Emergency Award (EA) of the Singapore International Arbitration Centre (SIAC) in favour of Amazon. The top court said...
Economic Survey projects GDP growth at 8-8.5%
Finance minister Nirmala Sitharaman tabled the Economic Survey 2022 in the Lok Sabha on Monday, January 31. It projected an 8 per cent to 8.5 per cent growth rate for the Indian economy in 2022-23 fiscal year. Indian economy is likely to witness a real GDP expansion of 9.2 per...
