Union Finance minister Nirmala Sitharaman on Sunday said movements in the rupee against the US dollar are influenced by a combination of global and domestic factors, stressing that the Reserve Bank of India intervenes only to contain excessive volatility and not to defend any specific exchange rate.Addressing reporters at Devanahalli near Bengaluru during an event…
Defending the credibility of India’s GDP statistics, Chief Economic Adviser V Anantha Nageswaran has said that the country does not use revisions in methodology or base years to artificially boost economic growth figures.In an interview with news agency ANI, Nageswaran responded to concerns raised by some economists over India’s GDP estimates, saying GDP measurement is…
The combined market capitalisation of eight of India’s 10 most-valued companies rose by Rs 1.90 lakh crore last week, with ICICI Bank emerging as the biggest gainer as equities rallied, reported news agency PTI.The gains came during a strong week for the markets, with the BSE Sensex climbing 1,284.61 points, or 1.73%, while the NSE…
BRICS nations on Saturday adopted the “Indore Declaration”, committing to deeper cooperation in agriculture and launching a series of new initiatives, including a global forum on farmers’ seed rights, a digital agriculture network and a platform for agroecology and regenerative farming, PTI reported.The decisions were taken at the end of a five-day meeting of agriculture…
Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday said there is no shortage of energy in the country, asserting that supplies of crude oil, LPG and natural gas remain comfortable despite concerns arising from the Iran conflict.Speaking to reporters in Ludhiana, Puri said India has sufficient reserves to meet energy requirements and…
South Korea’s artificial intelligence-led semiconductor boom has yet to generate a meaningful spillover into the broader economy, even as concerns over the won and financial stability are increasing the likelihood of a Bank of Korea (BOK) rate hike next month, Nomura’s senior economist said.Speaking at Nomura’s Korea Equities & Economy Media Briefing in Seoul, Park…
Why are these 3Fs so important? How do they add to pressure on India’s growth story? We decode: (AI image) Fuel, fertilisers, and forex – the 3Fs that India is focusing on. But why? The US-Iran war has put the global economy at risk, and India is not immune. In fact, in the current context…
US investment groups are racing to capitalise on the reopening of Venezuela’s oil sector, targeting underinvested oilfields and launching new investment vehicles after US President Donald Trump’s January call for companies to invest $100 billion to help rebuild the country’s energy industry, the Financial Times reported.Among the early movers is Miami-based Lionheart Capital, which has…
Representative image (AI-generated) When most people hear the word ‘trillion’, it is difficult to grasp just how large that number really is.A million sounds huge. A billion sounds almost unimaginable. But a trillion is an entirely different scale.The question has taken centre stage after Elon Musk became the world’s first trillionaire, a milestone driven by…
Veteran banker Uday Kotak reacted to SpaceX’s blockbuster Wall Street debut, saying that the company’s massive valuation does not fit traditional ways of valuing businesses.In a post on X, Kotak wrote, “SpaceX IPO, listing, and beyond, is a true test for capitalism. The valuation does not fit any traditional matrix and is a huge bet…