BUSINESS
'Stabs in the back': Russia discussing nationalisation of foreign businesses
Russia's ruling party has come up with the idea of nationaliSing the production of companies who announced their departure from the Russian market during the military offensive in Ukraine. Since the launch of the military operation, dozens of international enterprises have revealed their intention to cease operations in Russia, and the list is constantly growing.
Global coal prices at record high, to increase India's import bill
The ongoing conflict between Ukraine and Russia is likely to have a bearing on the supply of thermal coal, while direct or indirect sanctions from the western countries are also expected to put an upward pressure on its prices. Currently, international coal prices are at their lifetime high at above $400 per tonne. Russia accounts for around 20 per cent of the global thermal coal exports.
Pakistan needs bold reforms to arrest economic meltdown: Experts
Amid hydra-headed economic challenges and foreign debt, more and more voices in Pakistan are now demanding that the country bring in structural reforms at the earliest and focus on improving socio-economic indicators. Fixing the country's economy was one of the main thrust areas outlined by Pakistan Prime Minister Imran Khan when he took charge in 2018.
NSE fraud: CBI gets 7 days custody of Chitra Ramkrishna
A Special CBI Court on Monday sent Chitra Ramkrishna, the ex MD and CEO of the National Stock Exchange (NSE), arrested by the Central Bureau of Investigation (CBI), to seven days custody. Ramkrishna was placed under arrest by the federal probe agency on Sunday night. She was produced before the Delhi's Rouse Avenue Court. The CBI told the court that it wanted her custodial remand. The court after hearing their argument remanded her to seven days CBI custody.
Ashneer saga an aberration, not the norm: BharatPe Co-founder Nakrani
Amid the Ashneer Grover-BharatPe tussle, the fintech platform's co-founder Shashvat Nakrani has written a letter to employees, saying that the whole episode is an aberration and not the norm and the company will turn this crisis into an opportunity. Stressing that the company has to acknowledge and address the areas of improvement and the most critical is "culture" and that's "us".
Govt focus on expeditious framework for Black Money Act
Considering the objective of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BM Act), the assessment is to be completed at the earliest possible without keeping the same pending till the time barring date, the Central Board of Direct Taxes (CBDT) said in a set of guidelines issues earlier.
Indices settle low; Sensex falls nearly 1,500 pts
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- settled lower on Monday as international crude oil prices hit a 14-year high amid the Ukraine-Russia war. The Ukraine crisis pushed Brent crude oil price to $130 a barrel on Monday, which in turn has accelerated FIIs' selling in the Indian equity market.
Ukraine war to strain multiple sectors of Indian economy
Russias invasion of Ukraine, and the flurry of punitive sanctions imposed on Moscow by the US and Europe, can impact India Inc due to the resultant spike in commodity prices. If these prices are not passed on, can increase input costs and squeeze the margins of downstream sectors. Two, trade and banking sanctions can cull India's export-import activity in the affected region till workarounds are found, Crisil said.
Union budget aims to bridge gap created by education loss during pandemic:FM
The Union Budget 2022-23 has been presented with a vision for next 20-25 years for the country, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said here on Monday. Participating in a post-Budget interaction with the Trade and Industry here, the minister said that this year's Union budget stands for continuity and gives an impetus for investment on infrastructure.
Equity indices fall further; Sensex slips over 1,700 pts
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- fell further in the afternoon trade amid skyrocketing crude oil prices. The Ukraine crisis pushed Brent crude oil price to $130 a barrel on Monday, which in turn has accelerated FIIs' selling in the Indian equity market.
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