Finance

IMF CHIEF ECONOMIST GITA GOPINATH TO DON LEADERSHIP ROLE

International Monetary Fund Chief Economist Gita Gopinath is set to take over from Geoffrey Okamoto as the institution’s No. 2 official, the institution said Thursday. The move comes as a surprise because Gopinath, the first woman to serve as the IMF’s chief economist, had said in October she planned to rejoin Harvard University in January to retain her tenured facility post after three years of public service.... Read more

PRIME MINISTER MODI WILL INAUGURATE A LEADERSHIP FORUM ON FINANCIAL TECHNOLOGY TODAY

Prime Minister Narendra Modi will inaugurate a leadership Forum on Financial Technology (FinTech) on Friday. This is the first edition of the summit and will be inaugurated via virtual conference.... Read more

CHINA IS TRYING TO DRIVE AUSTRALIA TO ITS KNEES, SAYS U.S.; ALLEGES CHINA OF ECONOMIC WARFARE

U.S. President Joe Biden’s top Pacific envoy on Wednesday accused China of trying to “drive Australia to its knees” through a barrage of sanctions that amounted to “economic warfare”. In remarks to the Sydney-based Lowy Institute, veteran diplomat Kurt Campbell lampooned Beijing for strong-arm tactics.... Read more

THE ORGANISATION FOR ECONOMIC COOPERATION AND DEVELOPMENT (OECD) WARNS OF OMICRON THREATS IN GLOBAL ECONOMIC RECOVERY

The OECD warned Wednesday that the Omicron coronavirus variant threatens the global economic recovery as it lowered the growth forecast for 2021 and appealed for a swifter rollout of Covid vaccines. The Paris-based Organisation for Economic Co-operation and Development the recovery has "lost momentum" as it cut the outlook of top economies including the United States, China and the eurozone.... Read more

NYKAA CEO FALGUNI NAYAR BECOMES INDIA’s RICHEST SELFMADE FEMALE BILLIONAIRE

Falguni Nayyar, the CEO of beauty and wellness E-commerce website NYKAA, now owns a company worth $6.5 billion. Nayyar is now India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index.... Read more

IT DEPT FINDS OVER 200 CRORE IN ‘DRY FRUIT’ RAID IN J&K, PUNJAB

The Income Tax Department conducted a raid on businessmen involved in the dry fruits trade in the states of Punjab and Jammu and Kashmir, on Friday. The raid led to the detection of unaccounted money exceeding an alarming amount of Rs. 200 crores.... Read more

PRESSURE ON NON BJP STATES TO REDUCE VAT FOR PETROL AND DIESEL, AS CENTRE REDUCES EXCISE

On Wednesday the center had announced it will be reducing the excise charges on Petrol and Diesel reducing the prices of both by Rs. 5 and Rs. 10 respectively. The move has been welcomed by many despite the prices being at an all-time high the past few months.... Read more

CENTRAL GOVERNMENT REDUCES EXCISE ON PETROL AND DIESEL ON DIWALI EVE

The excise duty on petrol and diesel will be reduced from 12 am on 4th November, Diwali. The price of petrol and diesel will go down by Rs. 5 and Rs. 10 respectively.... Read more

IMF BACKS CONTROVERSIAL MD KRISTINA GEORGIEVA

The Executive Board of the  International Monetary Fund has decided to support its Managing Director Kristina Georgieva. She was accused of fudging data in the 'Doing Business Report' of the World Bank at China’s behest. This was during the time she was CEO of the World Bank. The decision was declared weeks after an independent jury concluded that Georgieva and the then World Bank President Jim Yong Kim had pressured staff so that China would not get better business ranking.... Read more

YECHURY SAYS AIR INDIA BID, FREE GIFT TO THE TATAs

Sitaram Yechury of the CPI(M) has termed the India Air sale that brought the airlines back to TATA’s hands, as a ‘free gift’ to the business conglomerate as it is reported to be the largest donor of the BJP.... Read more

55% OF PROFESSIONALS STRESSED: SAYS NEW LINKEDIN SURVEY FINDING

A survey conducted by LinkedIn has revealed that a majority of 55% of Indian professionals are highly stressed due to various reasons ranging from insufficient incomes, work-life imbalance and slow career progress.... Read more

PANDORA PAPERS REVEAL MILLIONS OF DOLLARS ILLEGALLY HOARDED BY PUBLIC FIGURES

The documents dubbed as Pandora papers was a result of a partnership of the International Consortium of Investigative Journalists (ICIJ), an organisation that comprises of the BBC and The Guardian in the UK, The Indian Express from India and 150 other media outlets. It is a follow-up of the Panama Papers revealed in 2016, by the same group. They claim to have access to over 11 million files that are confidential, which proves illegal financial dealings of the richest people in the world.... Read more

PANDORA EXPOSES FINANCES OF MANY PROMINENT FIGURES WORLDWIDE

Millions of leaked documents that were investigated in journalistic mission has uncovered financial secrets of many current and former world leaders, politicians, businessmen and public figures from over 91 countries and territories, including India. The documents dubbed as Pandora papers was a result of a partnership of the International Consortium of Investigative Journalists (ICIJ), an organisation that comprises the BBC and The Guardian in the UK, The Indian Express from India and 150 other media outlets.... Read more

PRICE OF DIESEL CROSSES RS. 100 PER LITRE, FIRST TIME IN THE COUNTRY

Andhra Pradesh: The price for a litre of Diesel has breached Rs. 100 in the Indian cities of Guntur and Vijayawada. In Guntur, the diesel price is now Rs. 100.59 and petrol is Rs. 108.63, wherein Vijayawada, the diesel price is at Rs. 100.30 and petrol is at Rs. 108.29.... Read more

AMIT SHAH ANNOUNCES AMENDMENT IN COOPERATIVE SOCIETY ACT

Union Minister of Cooperatives, Amit Shah said that the Centre will bring amendments to the Multi State Cooperative Society Act and, along with it, a new policy for the cooperatives. The newly created ministry will work in tandem with the states and said “there won’t be any friction”.... Read more

PM MODI LAUNCHES AYUSHMAN BHARAT DIGITAL MISSION

Prime Minister Narendra Modi launched the Ayushman Bharat Digital Mission on Monday via video conference. He said the mission will bring “revolutionary change in India’s health facilities”.... Read more

BHARAT BANDH GETS MIXED RESPONSE FROM STATES, ACCORDING TO SOME

The Bharat Bandh called by farmers unions was termed “successful” by leader Rakesh Tikait. The strike that started from Monday 6 am and concluded by 4 pm created traffic havoc in parts of Delhi and around. However commercial establishments and shops were operating as usual. The bandh manifested differently in different parts of the country.... Read more

BHARAT BANDH ‘SUCCESSFUL’, SAYS RAKESH TIKAIT

The 10-hour Bharat Bandh called by the Samyukt Kisan Morcha (SKM) on Monday was termed 'successful' by farmers’ leader Rakesh Tikait. SKM, an umbrella body of over 40 farm unions announced that the strike, from 6 am to 4 pm, will not allow traffic in certain parts of the national highways. The strike was called in as the first- year anniversary of the signing of the farm laws by the President of India.... Read more

16 YEAR MERKEL ERA COMES TO AN END IN GERMANY

Merkel is panning to step down now that the election results are out which could be a historic year for Europe’s largest economy. Chancellor Merkel has played the face of Germany and Europe at large, since 2005 when she first took office. Germany’s center-left Social Democrats (SPD) has claimed victory over the conservatives led by Chancellor Angela Merkel in federal elections on Sunday. SPD leader Olaf Scholz has a clear mandate to form the government now.... Read more