In this issue

March 16, 2023

Sidbi's Fof gets into action to help start-ups

The fund will work with over 100 active AIFs, say executives

2 mins

Credit Suisse left in the lurch; world markets in disarray

TOP SHAREHOLDER WON'T INVEST MORE IN SCANDAL-HIT SWISS BANK. STOCK DEEPENS DECLINE, SLIPS 28%; BONDS PLUMMET TO DISTRESSED LEVELS. EUROPEAN CENTRAL BANK QUIZZES LENDERS ON EXPOSURE TO CREDIT SUISSE

2 mins

BAR COUNCIL ALLOWS ENTRY OF FOREIGN LAW FIRMS, LAWYERS

Those from sbroat will only be allowed to advise on international laws

3 mins

States given capex targets tied to interest-free loans

If target missed, part of loans to be deducted in 2024-25

2 mins

Crude oil falls 5% to its lowest in more than a year

Oil extended its slide on falling 5 per cent Wednesday, and hitting its lowest in more than a year as unease over Credit Suisse spooked world markets and offset hopes of a Chinese oil demand recovery.

1 min

ACCOUNTING AUDIT TRAIL MANDATORY FROM APRIL 1

Move to bring transparency, prevent tampering of accounting entries

1 min

Only 3% PMLA cases against politicians: ED

Of the 5,906 cases the probe agency has registered since 2005, 176 involve legislators

2 mins

Exports, imports shrink over 8% in February

Imports hit 18-month low as non-essentials curbed

3 mins

Campa challenge: Coke blinks, cuts price in few states

Coca-Cola has reduced the prices of some of its lowest stock-keeping units in key states after Reliance Consumer Products reintroduced the 50-year-old iconic beverage brand Campa Cola into the cola market. The price cut comes at a time when demand for cold beverages increases as temperatures start to soar.

2 mins

India set for most modern digital infra with its 5Gpace: Ericsson CEO

Nokia CEO says it is already exporting 5G base stations manufactured in India

2 mins

Honda rides into mass segment with 100cc bike

Japanese two-wheeler giant's Indian arm Honda Motorcycle and Scooter India (HMSI) finally enters the highly competitive mass segment of 100cc bikes with the launch of the Shine 100 on Wednesday.

1 min

CENTRAL BANKING AWARD: Das named Governor of the Year

Reserve Bank of India's (RBI's) Shaktikanta Das has been awarded the title of Governor of the Year by financial publisher 'Central Banking', which lauded him for critical reforms and overseeing payments innovation.

1 min

IMD predicts rain, asks farmers to harvest early

Over the next five to six days, nearly all parts of the country-except the West coast of India - are expected to experience fairly widespread light to moderate rain, hailstorm, and thunderstorm, informed weathermen. These weather phenomena will be under the influence of back-to-back cyclonic circulations that will bring humid winds from the seas that surround India the Bay of Bengal and the Arabian Sea.

1 min

Jayant Sinha to bring Competition (Amendment) Bill on March 17

In an unexpected move, Jayant Sinha, Member of Parliament from the ruling Bharatiya Janata Party, is expected to introduce a Competition (Amendment) Bill, 2023, introducing changes to the 2022 Bill which is pending Parliament approval.

1 min

'Need more': IMF economist backs rate hikes

IMF senior representative to on India Luis Breuer Wednesday said the RBI was doing the right thing on rate hikes, and added that there was need for more.

1 min

RBI declines Bajaj Fin request to operate in Philippines

Rejection as country on FATF grey list, under increased monitoring

1 min

Credit Suisse default swaps 18x UBS, 9x Deutsche Bank

The cost of insuring the bonds of Credit Suisse Group AG against default in the near-term is approaching a level that typically signals serious investor concerns.

1 min

Court Forces Police To Retreat In Battle To Arrest Imran Khan

A Pakistan court ordered police on Wednesday to suspend an operation to arrest former Prime Minister Imran Khan, bringing a halt to pitched battles in which police batoncharged supporters of the former cricketer and fired water cannon and tear gas.

1 min

Time And Money For Love: China Brainstorms Ways To Boost Birth Rate

Concerned by China's shrinking population, political advisors to the government have come up with over 20 recommendations to boost birth rates, though experts say the best they can do is to slow the population's decline.

1 min

No Recession In UK In 2023, Says Hunt; Gives Pension, Childcare Sops

UK Chancellor of the Exchequer Jeremy Hunt tabled the country's annual Budget in Parliament on Wednesday with a raft of measures targeted at luring people back to work with higher pension savings and childcare costs to fight back against the cost-of-living crisis.

1 min

South Asia gets back to reality

On March 6, China became the last major bilateral creditor to provide financing and restructuring International Monetary Fund (IMF) has agreed to make a final decision on Colombo's $2.9 billion bailout package. Sri Lanka's consistent back-and-forth negotiations with the IMF and China indicate a broader development in South Asia. In 2022, two other South Asian nations and participants of the Belt and Road Initiative (BRI) - Pakistan and Bangladesh had sought financial assistance from the IMF. These developments in the subcontinent indicate that developing countries are furthering their economic interests and stability by approaching the IMF and the West, even as they try not to antagonise China.

3 mins

India's export cushion

Rising services surplus is likely to offset the goods trade deficit in the short and medium term

4 mins

Neelkanth Mishra resigns from Credit Suisse, to head research at Axis Bk

A veteran of two decades at the Swiss bank, Mishra has agreed to helm Axis Bank's research department, the people said, asking not to be named as the information is private.

1 min

Credit Suisse trigger: Nifty ends below 17K

Indices decline for 5th consecutive session

2 mins

Land-for-job scam: Court grants bail to Lalu, Rabri

A Delhi court on Wednesday granted bail to Rashtriya Janata Dal (RJD) leader Lalu Prasad, his wife and former Bihar chief minister Rabri Devi, their daughter Misa Bharti and others in connection with a case related to the alleged land-for-job scam.

1 min

Tough to become $5-trn economy a year before IMF projection of FY27

India's GDP is estimated to grow to $3.58 trillion this financial year

3 mins

Panel suggests grace period extension for H1-B workers

A presidential advisory subcommittee has recommended the federal government to extend the grace period for H1-B workers, who have lost their jobs, from the existing 60 days to 180 days so that the workers have enough opportunities to find a new job or other alternatives.

1 min

Opposition writes to ED, seeks Adani probe

Several Opposition parties, including the Congress, shot off a letter to the Enforcement Directorate (ED) on Wednesday demanding a probe into allegations against the Adani group, saying that the agency \"cannot turn around and abdicate its jurisdiction\".

1 min

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