The Economic Times
The Economic Times BRICS nations agree to boost trade, financial settlement in local currencies
BRICS nations have decided to boost trade using local currencies and explore new financial infrastructures. They agreed to study the feasibility of an independent cross-border settlement system and establish a BRICS reinsurance company. The New Development Bank will also be developed further. They emphasized financial cooperation and inclusion in financial transactions.
The Economic Times Sebi bars First Overseas Capital from acting as lead manager for new mandates
Sebi has prohibited First Overseas Capital from taking new mandates in public debt issues for violating merchant banker rules. The firm did not meet the required net worth and accepted public deposits unlawfully. Inspections revealed frequent non-compliance, posing stability risks to the securities market and investor interests.
The Economic Times No country, US far away or China very close to us, can ignore India, says FM Nirmala Sitharaman
While participating in a panel discussion on the ' Priorities for the Next Decade', organised by the Center for Global Development on the sidelines of the World Bank and International Annual Meetings 2024 in Washington, DC, Sitharaman stated that no country, whether US which is far away or China which is very close cannot ignore India.
The Economic Times Indian bond ETFs to draw billions as Amundi to BlackRock join race
Major asset management firms like BlackRock, Amundi, and Janus Henderson's Tabula have launched new ETFs focused on Indian debt following JPMorgan's inclusion of Indian bonds in its emerging-market index. This is expected to attract $5 to $10 billion, with professionals driving initial interest.
The Economic Times OYO unveils new dedicated B2B vertical for corporate travel
OYO said its latest venture provides tailored corporate packages that include comfortable stays, customised meal plans, fully equipped conference setups, and on-site event management, ensuring a hassle-free experience for businesses. In addition to major cities, the platform will strategically tap into tier-2 and tier-3 cities, catering to the evolving needs of corporate travellers beyond traditional hubs.
The Economic Times India continues to be world's largest growing economy: IMF director
India is set to continue as the world's fastest-growing economy with projected growth at 7% in FY24-25, driven by strong macroeconomic fundamentals and rural consumption recovery. The IMF's Krishna Srinivasan highlighted necessary reforms in job creation, labor codes, trade barriers, infrastructure, and education to maintain competitiveness and tackle challenges like low female labor participation and youth unemployment.
The Economic Times India cannot risk another bout of inflation: RBI Governor Shaktikanta Das
India cannot risk another bout of inflation and the best approach would be to remain flexible and wait for more evidence of inflation aligning durably with the target, Reserve Bank Governor Shaktikanta Das observed in the last meeting of MPC while also noting that the Indian economy presents a picture of stability and strength and that the balance between inflation and growth is well-poised.
The Economic Times Meeting of Parliament PAC to be held today, SEBI chief to appear in meeting
Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch is likely to be scheduled to appear before the Parliament's Public Accounts Committee in the national capital on Thursday, sources said.
The Economic Times GST appeals authority upholds demand notice of Rs 139 cr against Maruti Suzuki
Maruti Suzuki India announced that Haryana GST appeals authority upheld a Rs 139.3 crore tax demand against the company for the period July 2017 to August 2022. The company intends to file an appeal, asserting the order will not affect its financial, operational, or other activities.
The Economic Times Setback to Byju, SC reverses NCLAT order closing insolvency proceedings
In a setback to ed-tech company Byju, the Supreme Court on Wednesday set aside the decision of the National Company Law Appellate Tribunal (NCLAT) closing the insolvency proceedings against ed-tech company Byju's by accepting a settlement between it and the Board of Control for Cricket in India (BCCI) for about Rs 158 crores.
The Economic Times FM Nirmala Sitharaman advocates for debt restructuring and resilient infrastructure at World Bank and IMF Annual Meetings 2024
Ministry of finance posted on X, "Union Minister for Finance and Corporate Affairs @nsitharaman participated in the Global Sovereign Debt Roundtable #GSDR on the sidelines of the World Bank and IMF #AnnualMeetings2024, in Washington DC, today. In her intervention, FM @nsitharaman congratulated the GSDR co-chairs for helping advance #DebtRestructuring by addressing technical bottlenecks through candid discussions.
The Economic Times ICAI refutes NFRA's legal violation claims, asserts new quality management standards are not auditing standards and within its remit
ICAI stands firm that it has diligently followed all due legal processes to issue the new Standards on Quality Management (SQMs) and highlighted that SQMs are not auditing standards, countering NFRA's allegations of illegality.
The Economic Times Syngene International CFO Sibaji Biswas resigns, Deepak Jain takes over
In light of Biswas's departure, Syngene has appointed Deepak Jain as the new CFO, effective December 1, 2024. Jain joined the company in September 2024 from Ather Energy, where he served as CFO for four years, driving significant revenue growth.
The Economic Times Germany bets on India to reduce reliance on China
German Chancellor Olaf Scholz is leading a delegation to New Delhi to enhance market access in India. This is part of Germany's strategy to reduce reliance on China. German firms see growth potential in India, despite investment hurdles. Trade between Germany and India reached a new peak in 2023, reflecting increased economic cooperation.
The Economic Times Nath Bio-Genes CFO Devinder Khurana resigns, Amol Gupta takes over
Khurana cited succession planning and transition as the reasons for his departure but will continue to serve the company in a different capacity. Amol Gupta, previously the General Manager of Accounts and Finance at Nath Bio-Genes, has been promoted to Chief Financial Officer (KMP) as of October 23, 2024.