INTERNATIONAL FEDERATION OF ACCOUNTANTS
India to push its 2036 Olympic bid case in Paris; will seek inclusion of indigenous disciplines
India's sports administrators will lobby hard at the Paris Olympics for a successful 2036 Olympic bid, advocating for the inclusion of indigenous sports like yoga, kho kho, and kabaddi. The Sports Authority of India's Mission Olympic Cell has detailed strategies to enhance India's bid and improve medal prospects if the bid succeeds.
Russian economy has withstood what even China could not have achieved: Prof. Alexander Dynkin
Prof. Alexander Dynkin discussed the significance of the Primakov Readings International Forum and the role of BRICS in shaping global economic trends. He emphasized India's pivotal role in BRICS and highlighted the growth potential in Russia-India ties. Dynkin provided insights into the Russian economy, foreign policy priorities, and commitments towards fostering regional stability and collaboration, especially in Africa. His analysis underscored Russia's resilience and strategic positioning in the evolving global landscape.
International Road Federation calls for reducing GST on helmets from 18% to nil
In a statement issued on Wednesday, IRF said removing GST on helmets will make standard helmets more affordable for the masses and will discourage them from buying helmets of substandard quality, thereby reducing chances of head injury and death among two-wheeler riders during a road accident.
International Road Federation wants no GST on helmets to make it more affordable
The International Road Federation (IRF) has urged the GST Council and Ministry of Finance to reduce the tax on helmets from 18% to nil to promote their use for safety. IRF highlighted the vulnerability of two-wheeler riders in road accidents and emphasized the importance of standard helmets to reduce fatalities.
Wall Street drifts to mixed finish after the latest signal of a slowing economy
U.S. stocks mixed as economy slows. S&P 500 up 0.1%. Dow down 0.3%. Nasdaq up 0.6%. Manufacturing shrinks, affecting Treasury yields. Companies struggle with high interest rates. Tech stocks soar. GameStop rises. AMC climbs. Waste Management to buy Stericycle. Bond market sees yield fluctuations. Investors watch economic reports.
Long-term investment in Bitcoin remains promising despite market volatility, says Kumar Gaurav of Cashaa
Kumar Gaurav, Founder and CEO of Cashaa, discussed the impact of factors like escalating crude oil prices and potential interest rate changes by the Federal Reserve on Bitcoin and speculative assets in an interview with ETMarkets. Gaurav says: "We are launching our earn, borrow, spend and store wallets in seven regions including Europe, UAE, India, Turkey, Indonesia, South Africa and Kenya as the first phase of our new direct-to-consumer business model."
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From Tokyo to New York, stock markets are on a record-hitting spree around the world
Equity markets worldwide are experiencing highs. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. Meanwhile, the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks.
Reach Europe 20 days earlier and for 30% cheaper: How Chabahar port helps India expand its trade footprints globally
India’s pact with Iran to develop the Chabahar port will give a boost to the multimodal transportation network called the International North-South Transport Corridor, enabling exports from South Asia to reach Europe and Russia.
The rise of Xi Jinping as Putin's 'Big Brother': A new chapter in Russia-China ties
Putin's recent visit to China underscores the strengthening bond between the two countries amid Russia's actions in Ukraine. This visit, Putin's first abroad since his re-election, emphasizes the strategic partnership between Russia and China. The visit highlights their military collaboration and economic interdependence, with China's support bolstering Russia's economy and military capabilities. The alliance between Russia and China serves as a counterbalance to Western dominance and has raised concerns in the West about China's role in supporting Russia's military operations.
India vs Kuwait Kolkata football match: How to get tickets for Sunil Chhetri's retirement match
Sunil Chhetri, India's revered football icon, announced his retirement from international football via social media. Debuting in 2005, he will retire after the India vs Kuwait FIFA World Cup qualifier on June 6 in Kolkata's Salt Lake Stadium. With 94 international goals, Chhetri's legacy extends through six AIFF Player of the Year awards. The match holds significance as India vies for World Cup qualification.
Exports up 1% in April, yet trade gap widens
India's goods exports grew 1.06% to $34.99 billion in April, with a trade deficit of $19.1 billion fueled by increased gold imports. Switzerland replaced Russia as a key import source. Challenges include rising petroleum imports and ongoing FTA discussions with the UK.
Nevermind those EVs — oil demand keeps growing
Oil demand concerns persist as Brent crude prices have been fluctuating. Gasoline consumption are rising despite push for electric vehicles.
Tesla pullback puts onus on others to build electric vehicle chargers
Musk's decision to lay off the 500-member team responsible for installing charging stations, and to sharply slow investment in new stations, baffled the industry and raised doubts about whether the number of public chargers would grow fast enough to keep pace with sales of battery-powered cars.
IMF flags a common link between India and China's growth stories as it revises Asia outlook
The report said that in China and India, public investment made a significant contribution supporting growth. "In emerging markets, growth was supported primarily by strong private demand. In China and, especially, India, public investment made an important contribution," it said.
Why highly skilled foreign nationals, including international students, are choosing Canada over US
It should, however, be noted that in January, Canada announced a two-year intake cap for international students, which was later expanded. For the first time ever, starting in fall (September), Canada will place limits on the number of ‘temporary residents’ (which also includes temporary foreign workers, those admitted under humanitarian and asylum programs) that it will admit.
Morgan Stanley forecasts strong Indian GDP growth amid robust domestic demand
Morgan Stanley is optimistic about India's economic growth due to strong domestic demand. The firm forecasts GDP growth of 6.8% in 2024-25 and 6.5% in 2025-26. It predicts inflation to be around 5% in the second quarter, easing to 4.1% in the second half of 2024. The current account deficit is expected to remain within 1-1.5% of GDP in 2025-26. The Reserve Bank of India is likely to maintain the policy rate at 6.5% given global factors and domestic improvements. Despite inflation concerns, India's growth prospects remain robust.
Iran to attack Israel: How it may affect your petrol bill?
Geopolitical tensions in the Middle East caused a 1% rise in oil prices on Friday, with concerns over potential supply disruptions. Brent crude settled at $90.45 a barrel, and U.S. West Texas Intermediate crude rose to $85.66. The market focused on potential retaliation from Iran after a suspected Israeli warplane attack on Iran's embassy in Damascus. While the U.S. expects an attack on Israel, Iranian sources suggest a response to avoid major escalation. Analysts warn of possible supply chain issues and price hikes if the situation escalates further.
Gold Price Today: Unstoppable yellow metal hits new all-time high of Rs 71,505. Silver breaches Rs 83,000/kg for first time
The recent uptick has been on account of slippages in the dollar index (DXY) which has declined by 1.30% over the last one month. Today it was hovering near the 104.13 mark, up by 0.02 or 0.02%.
Gold Price Today: Fresh lifetime high of Rs 71,150 for yellow metal; 2024 gains jump to Rs 7,700/10 gram
The gains in bullion prices have been on hopes of interest rate cuts by the US Federal Reserve and global central banks’ heightened buying of the yellow metal.
Gold Price Today: Yellow metal falls by Rs 350/10 gram, silver down by Rs 1000/kg as profit booking hits Street
Gold and silver prices paused after reaching lifetime highs as market was influenced by geopolitical tension, Fed rate cut expectations, and policymakers' remarks. Physical bullion market prices also played a role in the market movement.
Gold Price Today: Whopping gains! Yellow metal dearer by over Rs 5000/10 grams in 2024 so far. Should you buy it?
The MCX June gold futures were trading at Rs 68,644 per 10 grams around 9:10 am, rising Rs 313 or 0.46% while May silver futures were trading at Rs 76,076 per kg, higher by Rs 544 or 0.72%.
Gold Price Today: Yellow metal hits fresh lifetime high of Rs 69,487, gains Rs 1,800/10 grams in opening trade
Gold prices hit a lifetime high of Rs 69,487 on Monday, driven by global factors. Anuj Gupta advises buying MCX June gold at Rs 67,900 and MCX March silver at Rs 76,050.
Gold Price Today: Yellow metal extends fall to Rs 1,040/10 grams from lifetime high. Is it time to book profits?
The MCX April gold futures were trading at Rs 65,900 per 10 grams, down by Rs 121 or 0.18% while May silver futures were trading at Rs 74,780 per kg, lower by Rs 143 or 0.19%.
What is the most powerful weapon? Russian president Vladimir Putin has an interesting response
Russian President Vladimir Putin emphasizes national unity and patriotism as Russia's "most important, most powerful weapon" during a meeting with contest winners. He warns against US troops in Ukraine, calling it interventionist, and addresses the potential for nuclear conflict. Putin's comments come amidst tensions with the West, highlighting the importance of unity in the face of external pressures.
Canada international student cap: British Columbia announces new Provincial Attestation Letter system
British Columbia, a prominent destination for international students in Canada, will introduce provincial attestation letters for eligible post-secondary institutions. This measure, effective from March 4, 2024, is mandated by the federal Department of Immigration, Refugees and Citizenship Canada (IRCC).
View: Federal finance must globalise, with states allowed a bigger share of investments
As the world globalizes, the role of governments in national economies is rising. FPIs can invest in state government debt, but they do not. The Centre is hesitant to let state governments market their debt to migrants aggressively. Migrant workers have a calculus that is a little more generous than that of FPIs, when it comes to investing in their home states. Why prevent state governments from tapping into this fount of generosity?
US agency says it was alerted to breach by contractor CGI Federal
The US Government Accountability Office, a research arm of Congress, said in a statement the data involved personally identifiable information on employees including some people who worked there from 2007 to 2017.
These largecaps have ‘strong buy’ & ‘buy’ recos with upside potential of over 20%
In volatile markets, where there is a readjustment in valuation across midcap space, it is only a matter of time that the concept of relative valuation will come into play and large caps will get more attention from the market. Stocks from different sectors are making to the list, this week, stocks from Oil refining and marketing, private banks, insurance, auto ancillary and fertilizer space. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
NARCL's federal guarantee comes through after delay
"The guarantee has been approved by the department of financial services (DFS) earlier this week. It is now expected that NARCL will complete the take over of SPML debt by next week, the first takeover by the bad bank in more than three months," said a person aware of the process.
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