Category: Economy & Finance News

The world’s largest cryptocurrency Bitcoin is expected to see over 50 per cent price decline this year from its peak of around $68,000 in November last year as the Bitcoin bubble begins to deflate, according to investment management firm Invesco. In a list of 10 improbable but possible outcomes for 2022, Invesco’s global head of asset allocation Paul Jackson

In a bid to expand its outreach among farmers with small holdings, DeHaat, a technology-based start-up that currently provides services from seed to markets to farmers in the eastern and central regions, aims at expanding its presence across the southern and western parts of the country in the next one year. According to Shashank Kumar, co-founder & CEO

Delhi Health Minister Satyendar Jain on Monday said corona cases have decreased in the city over the last four days as the weekend curfew is proving to work and assured migrant workers there will be no lockdown in the national capital. He said the vaccination drive in Delhi completed one year on Monday and a total of 2.85 crore doses have been administered

By Rajesh Palviya Nifty started the week with an upward gap and buying momentum for the most part of the week led it to close on a strong note. Nifty closed at 18256 with a gain of 443 points on a weekly basis. On the weekly chart, the index has formed a long bullish candle forming higher High-low compared to the previous week and has closed above the

After logging over 10,000 COVID-19 cases per day for the last 11 days, the daily tally in Mumbai dropped to 7,895 on Sunday. A total of 11 people died of the COVID-19 infection, the city civic body said in a bulletin. The caseload in Mumbai now stands at 9,99,862 and the death toll at 16,457, the Brihanmumbai Municipal Corporation (BMC) said in a release. A

By Achla Savyasaachi A significantly large population in developing economies across the globe are part of the informal economy. In India, almost 90 per cent of the country’s workforce earn their livelihood as informal workers as per the Economic Survey 2019-20. An IMF policy paper (February 2021) estimated their contribution to the country’s

By Kunal Doley The Covid-19 pandemic has affected everyone, including musicians and artistes, across the globe. The worst hit are independent or indie musicians, as concerts and live performances have been repeatedly postponed or even cancelled amid the unprecedented health crisis. Although it will be unfair to say that their financials have changed

Engineering Export Promotion Council of India has expressed concern that the spread of Omicron, the new variant of coronavirus, may once again disrupt the global supply chain, which could lead to a slowdown in trading activities. Exports of engineering goods registered a 38 per cent year-on-year growth in December, 2021 to USD 38.4 billion. The sustained

It will arguably go down as an evening to remember showcasing a genuine corporate solidarity and oneness of purpose in supporting women entrepreneurship. The Express Awards for Women Entrepreneurs (or ExpressAWE) announced on Friday saw a tidal wave of entrepreneurial success. But what also added glitter and weight to the memorable evening were rich and

The Reserve Bank of India (RBI) on Friday proposed new norms for the classification and valuation of the investment portfolio of banks, with a view to align them with the global prudential framework and accounting standards. According to the proposed norms, the investment portfolio of banks will be divided into three categories — held-to-maturity (HTM),

Restructured portfolio under tight control: SBIN reported a steady quarter, with net earnings growing 67% YoY to Rs 76.3billion (15% beat), aided by controlled provisions, as asset quality showed remarkable strength, despite the impact of the second Covid wave. It created a family pension provision of Rs 74.2billion, instead of amortizing it over five years,

WhatsApp users will soon be able to play voice messages in the background while scrolling and answering messages from other contacts. The Meta-backed company is testing a feature through which Android users will be allowed to listen to voice messages even when they switch from one chat to another. As of now, one needs to be in a certain chat to listen to the

State-run SJVN said on Tuesday that it has received letters of intent to build solar power projects of cumulative 125 mega-watt (MW) capacity in Uttar Pradesh. As much as 75 MW of the plants will be built in Jalaun district, while the remaining capacity will be set up in the Kanpur Dehat district. The Uttar Pradesh Power Corporation will buy power from these

Twitter Inc has picked up a minority stake in Aleph Group Inc, the digital advertising firm said on Tuesday as it seeks to go public in the United States. Aleph did not reveal any financial terms of the investment but said Twitter’s stake buy would help the company expand its educational tech platform. Emerging markets-focused Aleph, which helps large

India has said that countries need to be careful about providing excuses for terrorist acts since there cannot be any excuse for terrorism and must not divide themselves on combating one of the biggest challenges facing humanity. India is currently the Chair of the UN Security Council Counter-terrorism Committee for the year 2022. “India will chair the

The Union health ministry on Monday said that the percentage of the active cases requiring hospitalisation at present is in the range of 5-10%, compared to the 20-23% range seen during the second wave of the pandemic. The Delta variant of Covid-19 also continues to exist, even as Omicron cases are surging in the country. However, the ministry cautioned that

With the Election Commission imposing restrictions on poll rallies till January 15 in the wake of rising COVID-19 cases, political parties in Uttar Pradesh are gearing up for virtual campaigning. While the Bharatiya Janata Party (BJP) already has a good presence on social media platforms, the Samajwadi Party (SP) and others are putting in efforts to

The government will likely raise allocation under two crucial tax remission schemes for exporters —RoDTEP and RoSCTL — to as much as Rs 22,000-27,000 crore in the Budget for the next fiscal from about Rs 19,400 crore in FY22, a senior official told FE. “Given the sharp rebound in exports, there is a need to raise the outlay for these schemes

Pakistan’s Federal Investigation Agency (FIA) has issued a notice to the world’s largest cryptocurrency trading platform Binance in connection to an alleged crypto scam worth nearly $100 million in the country. According to the notice and subsequent press release issued by Karachi-based FIA, the agency said “On Monday 20th of December, people from all over

The issue of allocation of spectrum — through auctions or administratively – for setting up private networks will be decided by the Telecom Regulatory Authority of India when it submits its recommendations on the reserve price for 5G spectrum auctions. The recommendations are expected by March. Since 5G would herald the era of private networks, the

Karnataka, being a large producer of ragi, should ramp up production of millets and also meet the requirement of other states, Union Food Secretary Sudhanshu Pandey said on Saturday in a meeting with state officials. Pandey, in the meeting with the state chief secretary and other officials, said the Karnataka government should also tie up with the Indian

We marched into 2021 with a pandemic-riddled economy. The real estate industry was quick to lay the ground work for a quick turnaround, in the way it did business. Making recovery faster than expected with a new phase of growth, innovation, technology, and investment trends. Real estate is a multi-dimensional industry, with many facets to it. While some of

Finance minister Nirmala Sitharaman on Friday reviewed state-run banks’ preparedness to deal with any pandemic-induced disruption in the wake of a spike in Covid cases over the past few days. At the same time, the banks have been asked to keep satiating the credit appetite of the economy. The top executives who attended the virtual meeting told the minister

Crypto / Bitcoin Crash 2022: The prices of all top cryptocurrency tokens continue to be in the Red since the start of the New Year. The largest cryptocurrency by market capitalisation – Bitcoin – dropped to as low as $41,270 in the last 24 hours before recovering to $42,303 at the time of writing this report, according to CoinMarketCap data.

By Shivaji Dasgupta Quite expectedly, the luxury retail sector in India suffered a 33% dip in the first year of Covid, as per Euromonitor estimates. Quite unexpectedly, the same source confirmed that the sector was fairly close to restoring its stature in 2021, certainly an outcome of evolutionary consumer behaviour. For starters, while 30% of salaried India

The Reserve Bank has increased the threshold for deposits and other funds of non-financial small businesses by 50 per cent to Rs 7.5 crore for the purpose of maintenance of Liquidity Coverage Ratio (LCR), with the aim to better align its regulations with Basel norms and also enable banks to manage liquidity risks more effectively. The existing cap was Rs 5

The breach in Prime Minister Narendra Modi’s security which led to the cancellation of his rally in Punjab’s Ferozpur on Wednesday has led to a major political controversy. The Ministry of Home Affairs has claimed that despite having intelligence inputs about protesters, Punjab Police did not follow the ‘Blue Book’ and had not

The BJP on Wednesday launched an all-out attack on the Congress over the breach in Prime Minister Narendra Modi’s security in Punjab, alleging it wanted to physically harm him as repeated defeats in elections have taken the party on the path of “insanity”. Top BJP leaders, including Home Minister Amit Shah and party president J P Nadda,

Today, Prime Minister Narendra Modi, in Punjab, will lay the foundation stone of multiple development projects worth over Rs 42,750 crore. These infra projects, according to a statement by Prime Minister’s Office, include Delhi-Amritsar-Katra Expressway; Mukerian-Talwara New Broad Gauge railway line; four laning of Amritsar – Una section; PGI Satellite

In a major setback for Future group companies, the Delhi High Court on Tuesday dismissed their plea seeking to quash the ongoing arbitration proceedings in Singapore with Amazon relating to the Rs 24,500-crore merger deal with Reliance Retail. With this order, the arbitration proceedings initiated by Amazon against Future Retail over the merger deal will