Politics
RBI MPC member Nagesh Kumar advocates two inflation rates for better policy making, ET BFSI
RBI Monetary Policy Committee member Nagesh Kumar has suggested that there should be two inflation rates - one including food prices and the other without food prices - so that relevant rates could be taken into account for policy making. Chief Economic Advisor V...
Trump pardons Silk Road creator Ross Ulbricht
US President Donald Trump signs executive orders during the inaugural parade inside Capital One Arena, in Washington, DC, on January 20, 2025. Angela Weiss | Afp | Getty ImagesPresident Donald Trump granted a full pardon on Tuesday to Ross Ulbricht, the founder of...
Union Budget will balance fiscal consolidation and growth; Capital expenditure likely to rise to Rs11-11.5 lakh cr: Report, ET BFSI
New Delhi [India], January 22 (ANI): The Union Budget for the fiscal year 2025-26, to be presented on February 1, 2025, is expected to strike a delicate balance between fiscal consolidation and growth-oriented measures, according to a Bank of Baroda report.To...
Quad foreign ministers meet in Washington in signal of Trump’s China focus
US Secretary of State Marco Rubio (2R) stands alongside Indo-Pacific Quad ministers, L-R, Japanese Foreign Minister Iwaya Takeshi, Indian Foreign Minister Subrahmanyam Jaishankar and Australian Foreign Minister Penny Wong, during a photo opportunity before meetings at...
Where’s the money? Can the Budget pull exporters out of their credit crunch?, ET BFSI
Credit crunch among MSME exporters in India has become a pressing challenge for quite some time. As per estimates, export credit in India has plummeted by 5% from March 2022 to March 2024, with priority sector lending for exports dropping by 41%. A report by the...
Trump AI investment with OpenAI, Oracle, Softbank
U.S. President-elect Donald Trump looks on as SoftBank CEO Masayoshi Son delivers remarks at Trump’s Mar-a-Lago resort on December 16, 2024 in Palm Beach, Florida. Andrew Harnik | Getty ImagesPresident Donald Trump will announce a joint venture Tuesday with OpenAI,...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. Day oneStock futures rose Tuesday in the first trading day of Donald Trump's second term as president. Markets were closed Monday for Martin Luther King Jr. Day. U.S. stocks are...
RBI eases settlement norms for ARCs, resolutions could quicken, ET BFSI
The Reserve Bank of India (RBI) has allowed asset reconstruction companies (ARCs) to settle dues with borrowers after examining all possible ways to recover their dues, doing away with the earlier direction that needed ARCs to exhaust all measures for recovery before...
Reserves adequate to absorb depreciation impact and RBI dollar sales, ET BFSI
While the rupee has depreciated at a modest pace compared to many of India’s trading partners, the armoury of forex reserves is a lot more comfortable than 2013. There is still more room for the value of the rupee to ease further.RBI's reserves adequacy ratio - an...
Reserves adequate to absorb depreciation impact and RBI dollar sales, ET BFSI
While the rupee has depreciated at a modest pace compared to many of India’s trading partners, the armoury of forex reserves is a lot more comfortable than 2013. There is still more room for the value of the rupee to ease further.RBI's reserves adequacy ratio - an...
Biden pardons his family in final minutes in office
President Joe Biden on Monday issued preemptive pardons for three of his siblings and two of their spouses, citing concerns that they will be targeted by "baseless and politically motivated investigations."The White House announced the pardons just minutes before...
RBI announces new external advisory committee for Universal Banks and SFBs, ET BFSI
The Reserve Bank of India (RBI) on Monday announced that it has constituted a Standing External Advisory Committee (SEAC) to evaluate applications for Universal Banks and Small Finance Banks (SFBs). The committee, appointed for a three-year term, will be chaired by MK...
Biden pardons Dr. Anthony Fauci, Gen. Milley, Jan. 6 committee members
U.S. President Joe Biden reacts as he speaks from the Roosevelt Room about the jobs report and the state of the economy at the White House in Washington, U.S., January 10, 2025. Elizabeth Frantz | ReutersPresident Joe Biden on Monday issued pardons for Dr. Anthony...
Trump inauguration live updates: TikTok, immigration, energy orders
Biden pardons Fauci, Gen. Milley, Jan. 6 committee members US President Joe Biden delivers remarks at a Department of Defense Commander in Chief Farewell Ceremony at Joint Base Myers-Henderson Hall in Arlington, Virginia, on Jan. 16, 2025. Roberto Schmidt | AFP |...
Will RBI go for rate cut in upcoming February policy amid rupee crisis?, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) is grappling with a delicate balance between managing inflation and addressing the pressures caused by a weakening rupee as it prepares for its upcoming monetary policy review in February. With the rupee having...
BFSI leaders on Budget 2025 priorities, ET BFSI
As India gears up for Union Budget 2025, there are multiple questions on table. How will the government sustain capital expenditure without straining its fiscal position? Can it balance economic growth with inflation management? Will job creation and skill development...
Trump promises harsh immigration limits on inauguration eve
Supporters of U.S. President-elect Donald Trump gather outside Capital One Arena, for a rally a day before he is scheduled to be inaugurated for a second term, in Washington, D.C., on Jan. 19, 2025.Daniel Cole | ReutersDonald Trump told thousands of roaring supporters...
RBI’s got a tough call in Feb as global peers opt for rate cuts, ET BFSI
Mumbai: Monetary easing by global central banks across developed and emerging market economies has gathered pace since November 2024, when Donald Trump was elected president of the United States. The latest monetary easing by Bank of Indonesia, the first central bank...
RBI study, BFSI News, ET BFSI
The benefits of intervening in the foreign exchange market for emerging market economies like India far outweigh the costs, according to an article published in RBI's Jan bulletin.The authors highlight that RBI's interventions, both in the spot and forward markets,...
China’s vice president meets with Elon Musk ahead of Trump inauguration
Beata Zawrzel | Nurphoto | Getty ImagesChina's Vice President Han Zheng met on Sunday with Tesla CEO Elon Musk and other members of the U.S. business community in Washington D.C., the official Xinhua news agency reported on Monday.Han told Musk he "welcomed Tesla and...
10-minute delivery is boosting Indian economy’s ‘brightening spot’, highlights RBI, ET BFSI
Private final consumption is proving to be a key bright spot in India's economic recovery, with e-commerce and quick commerce (q-commerce) playing a significant role, the Reserve Bank of India (RBI) stated in its recent bulletin. Calling consumption a "brightening...
How the rest of the world feels as Trump is inaugurated
U.S. President Donald Trump at a press conference at the end of the NATO summit in July 12, 2018.Bernd von Jutrczenka | dpa | picture alliance | Getty ImagesU.S. President-elect Donald Trump returns to the White House on Monday, and much of the world is watching on...
New “cooling-off facility” could soon mitigate mule menace as govt, RBI seek to stay a step ahead of fraudsters, ET BFSI
In an ongoing effort to combat online fraud, the government and the Reserve Bank of India (RBI) are exploring the option of implementing a "cooling off facility" designed to temporarily block funds deposited into bank accounts, ToI reported on January 20. This...
Ceasefire brings hope in Gaza as Hamas frees the first hostages
Palestinian Hamas militants hand over hostages kidnapped during the Oct. 7, 2023, attack on Israel by Hamas, to members of the International Committee of the Red Cross as part of a ceasefire and a hostages-prisoners swap deal between Hamas and Israel, in Gaza City, on...
Trump says he will revive TikTok, but wants 50% U.S. ownership
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump said he would revive TikTok access in the U.S. by executive order after he is sworn in on Monday, but said he...
Biden posthumously pardons Black nationalist Marcus Garvey
US President Joe Biden delivers his farewell address to the nation from the Oval Office of the White House in Washington, DC, on Jan. 15, 2025. Mandel Ngan | Via ReutersPresident Joe Biden on Sunday posthumously pardoned Black nationalist Marcus Garvey, who influenced...
Civil rights leaders and King family mark MLK Day as a special call to action as Trump takes office
When President-elect Donald Trump is sworn in as president of the United States inside the Capitol's rotunda, he will do so facing a bust of the Rev. Martin Luther King Jr. on the federal holiday commemorating King's legacy.It's a disquieting contrast for some civil...
Israeli forces attack Gaza after ceasefire deadline missed
A view over the Gaza Strip as seen from a position on the Israeli side of the border on Jan. 16, 2025.Amir Levy | Getty Images News | Getty ImagesIsraeli warplanes and artillery attacked the northern Gaza Strip on Sunday and Palestinian medics said eight people were...
Eliminate coal cess to support power intensive industries like aluminium, says Assocham, ET BFSI
Industry body Assocham has pitched for the removal of coal cess stating that the move will support power-intensive industries like aluminium and maintain competitiveness of the domestic industry. In its pre-budget memorandum 2025-26, the industry body said that "high...
Thousands converge on Washington for a march days before Trump takes office
People attend the "People's March on Washington" ahead of the presidential inauguration of U.S. President-elect Donald Trump, in Washington, D.C., on Jan. 18, 2025Jon Cherry | ReutersThousands of people from around the United States were rallying in the nation's...
South Korea’s President Yoon attends court hearing on extending detention
South Korea's impeached President Yoon Suk Yeol arrives at the Corruption Investigation Office for High-ranking Officials (CIO), in Gwacheon, South Korea, January 15, 2025. Korea Pool | Via ReutersSouth Korea's impeached President Yoon Suk Yeol attended a court...
Ceasefire between Israel and Hamas will go into effect at 0630 GMT on Sunday
People react to the reports of a possible Gaza ceasefire and hostage release deal being reached during a rally calling for the return of captives held in the Gaza Strip on Jan. 15, 2025 in Tel Aviv, Israel. Amir Levy | Getty Images News | Getty ImagesQatar's foreign...
DOJ sues Walgreens alleging prescriptions filled without medical purposes
In an aerial view, a customer enters a Walgreens store on Jan.4, 2024 in San Pablo, California.Justin Sullivan | Getty ImagesThe Department of Justice said Friday that it sued pharmacy giant Walgreens for allegedly dispensing millions of unlawful prescriptions.The DOJ...
Disinflation can be expected to continue unevenly, RBI says, BFSI News, ET BFSI
Disinflation can be expected to continue unevenly, opening up some more albeit limited space for monetary policy easing, according to the Reserve Bank of India’s (RBI) January 2025 bulletin. This shift could provide welcome relief to households and individuals...
Biden declares Equal Rights Amendment law; impact is unclear
U.S. Representative Cori Bush along with other U.S. lawmakers and advocates hold a press conference outside the Capitol Hill building to urge U.S. President Joe Biden to certify the Equal Rights Amendment (ERA) before his term ends in January in Washington DC, United...
Trump economic policy team announced
White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018.Jonathan Ernst | ReutersPresident-elect Donald Trump on Friday announced senior staff appointments to...
Trump inauguration to be moved indoors due to extreme cold
The US Capitol in Washington, DC, US, on Monday, Jan. 6, 2025.Al Drago | Bloomberg | Getty ImagesPresident-elect Donald Trump said his inaugural ceremony will be moved indoors due to the extreme cold set to grip Washington, D.C., on Monday."There is an Arctic blast...
Democrats push for financial oversight
Seating are pictured at the West Front of the U.S. Capitol building as preparations are underway for the upcoming presidential inauguration of U.S. President-elect Donald Trump, in Washington, U.S., Jan. 15, 2025. Fabrizio Bensch | ReutersSenate Democrats are pushing...
Trump and China’s Xi discuss TikTok, trade, fentanyl, president-elect says
President Donald Trump talks with Chinese President Xi Jinping as Xi arrives for dinner at the start of their summit at Trump’s Mar-a-Lago estate in West Palm Beach, Florida, U.S. April 6, 2017.Carlos Barria | ReutersPresident-elect Donald Trump said he spoke on the...
New RBI directive to banks, NBFCs to ensure nomination in FDs, saving accounts: Check details, ET BFSI
The Reserve Bank of India has issued a notification stating that nomination is not available in a large number of deposit accounts with banks and NBFCs. To avoid undue hardship to survivors/ family members of deceased depositors, the RBI has asked banks to obtain...
Canada’s trade chief warns oil and gas exports could be in play
If President-elect Donald Trump follows through with his threat to impose tariffs on Canadian goods, Ottawa is prepared to retaliate with levies that could take aim at the energy sector, Canada's minister of international trade, Mary Ng, said Thursday."Everything is...
Supreme Court lawyer charged with tax evasion on poker winnings
Tom Goldstein, who writes SCOTUSblog.com, poses for a photograph in front of the Supreme Court, Thursday, Oct. 31, 2013, in Washington.Alex Brandon | APA top Supreme Court lawyer who co-founded a popular blog about the high court was indicted Thursday in Maryland on...
RBI eases FEMA norms to boost use of Indian rupee amid currency drop, ET BFSI
The Reserve Bank of India (RBI) has introduced significant relaxations under the Foreign Exchange Management Act (FEMA) to encourage the use of the Indian Rupee (INR) and local currencies for cross-border transactions. This move is aimed at boosting trade and...
BFSI leaders to share key policy priorities today, ET BFSI
14 days to go before the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman presents the Union Budget 2025 on February 1 in Lok Sabha. With inflation running high, growth projections slipping to as low as 5.4 per cent in Q2 of FY25, and geopolitical...
The BRICS bloc is growing — and Trump’s tariff threat isn’t expected to put off aspiring members
Family photo of leaders taken at the 16th BRICS Summit in Kazan, Russia on Oct. 24, 2024. Anadolu | Anadolu | Getty ImagesPresident-elect Donald Trump has pledged a 100% tariff against BRICS nations if they continue to undermine the U.S. dollar — but the threat won't...
American Express to pay $230 million to settle fraud probe
Silas Stein | Picture Alliance | Getty ImagesAmerican Express will pay approximately $230 million to resolve a federal criminal wire fraud investigation and settle allegations of deceptive marketing, the company said Thursday.The total includes more than $138 million...
SALT cap fight ramps up
WASHINGTON — An influential group of five House Republicans from high-tax states is threatening to hold up a major tax package that is a top priority for President-elect Donald Trump unless they get a significant boost to the amount that their constituents can deduct...
Trump, Vance official portraits released
Official portraits of President-elect Donald Trump and Vice-President-elect J.D. VancePresident-elect Donald Trump's transition team shared official portraits of Trump and Vice President-elect JD Vance days before their inauguration.Both of the brightly lit portraits...
RBI liberalises FX rules to promote cross-border trade, ET BFSI
To encourage the use of the rupee and other currencies to settle cross-border transactions, India's central bank took steps to further liberalise regulations under the foreign exchange management act, it said in a release on Thursday.Indian exporters will now be able...
Indian central bank’s daily liquidity infusion to aid money markets, traders say, ET BFSI
By Dharamraj DhutiaMUMBAI - Reserve Bank of India's plan to infuse liquidity into the banking system daily via variable rate repo (VRR) auctions will lead to a drop in overnight interbank and money market rates, as well as near-end overnight index swaps, traders said...
RBI introduces daily VRR operations to boost banking liquidity amidst deficit, ET BFSI
The central bank Wednesday prioritized liquidity infusion into the banking system by announcing daily variable rate repo (VRR) operations, which would accompany the up to $3-billion worth of dollar-rupee buy-sell swaps conducted since Friday, as Mint Road seeks to...
Israel-Hamas ceasefire hostage deal agreed
Supporters of Israeli hostages, who were kidnapped during the deadly October 7 2023 attack by Hamas, react to news on the Gaza ceasefire negotiations, during a protest to demand a deal to bring every hostage home, in Tel Aviv, Israel, January 15, 2025. Ronen Zvulun |...
Trump picks face Senate confirmation hearings
Tense Pete Hegseth hearing kicked off Trump Cabinet confirmationsThe process of appointing Trump's Cabinet kicked off Tuesday with a contentious Senate confirmation hearing for Defense Secretary hopeful Pete Hegseth, one of the president-elect's most controversial...
Biden administration will announce it’s lifting state sponsor of terrorism designation for Cuba
A man with a tattoo depicting late revolutionary hero Ernesto 'Che' Guevara wears a T-shirt with colors of the U.S. flag in downtown Havana, Cuba, October 18, 2024. Norlys Perez | ReutersThe Biden administration on Tuesday is expected to lift the U.S. designation of...
RBI’s 62nd Deputy Governor Michael Patra’s tenure comes to a close, ET BFSI
RBI DG Patra retires on January 15th, 2025 after a tenure of five yearsMichael Debabrata Patra, the 62nd Deputy Governor of the Reserve Bank of India (RBI), will be concluding his tenure today i.e 15th January, 2025, after serving for five years. Dr Patra was...
RBI reshuffles portfolios of Deputy Governors; Michael Patra’s tenure concludes, ET BFSI
The Reserve Bank of India (RBI) on Tuesday announced a reshuffling of portfolios among three of its four Deputy Governors, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan Janakiraman, effective January 15, 2025. The reshuffle coincides with the conclusion of Michael...
Biden administration finalizes crackdown on Chinese vehicles
Chinese made BYD passenger battery electric vehicles and plug-in hybrid electric vehicles collectively known as new energy vehicles in China in a compound in Sheerness, Kent. Issue date: Thursday April 4, 2024.Gareth Fuller | Pa Images | Getty ImagesPresident Joe...
MeitY conducts consultation meeting with top bureaucrats, industry representatives on draft DPDP Rules, ET BFSI
Ashwini Vaishnaw, Minister for Electronics and Information TechnologyNEW DELHI: The Ministry of Electronics and Information Technology (MeitY) organised a consultation meeting with government officials and industry on the Draft Digital Personal Data Protection (DPDP)...
South Korea’s President Yoon Suk Yeol arrested as agencies probe his short-lived martial law decree
SEOUL, SOUTH KOREA - JANUARY 15: Investigators arrive at the entrance to the presidential residence of Yoon Suk Yeol, as authorities try to execute an arrest warrant, in Seoul, South Korea, on January 15, 2025. Anadolu | Anadolu | Getty ImagesSouth Korean president...
Plummeting rupee could delay RBI’s rate cut plans this Februaray, ET BFSI
Some analysts are pushing back expectations for interest rate cuts in India as the rupee's slump to record lows fans worries about inflation, even as growth in Asia's third-largest economy slows.The weaker currency could add to elevated inflation through costlier...
Trump to create External Revenue Service for tariff collection
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday said that he will create an "External Revenue Service" to collect "Tariffs, Duties and all Revenue...
Trump Defense pick Pete Hegseth Senate confirmation hearing
Defense secretary nominee Pete Hegseth meets with Senator-elect Jim Banks (R-IN) on Capitol Hill in Washington, U.S., December 5, 2024.Evelyn Hockstein | ReutersSecretary of Defense hopeful Pete Hegseth is set to appear for a high-stakes Senate confirmation hearing...
Firm to pay $45 million in penalties
Scott Olson | Getty ImagesTwo Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative charges by the Securities and Exchange Commission that they violated more than 10 separate securities law provisions related to their...
India’s central bank to judiciously handle FX reserves amid headwinds, sources say, ET BFSI
By Jaspreet Kalra, Siddhi Nayak, Nimesh VoraMUMBAI, - India's central bank will be more judicious in its use of foreign exchange reserves to mitigate domestic currency market volatility amid strong global headwinds, three sources aware of the development said.The...
RBI rate cut delay will lead to more growth sacrifice; must deliver 0.25% reduction in Feb review, ET BFSI
RBI rate cutsThe RBI must start a rate cut cycle with a 0.25 per cent reduction in key rates at the next policy review in February, a German brokerage said on Tuesday. Delaying rate cuts will only lead to more sacrifice on growth, analysts at Deutsche Bank (DB) said,...
Trump inauguration schedule: MAGA rally, fireworks show
A member of the U.S. Army Herald Trumpets participates in a rehearsal for inauguration on the West Front of the U.S. Capitol on January 12, 2025 in Washington, DC. Kevin Dietsch | Getty ImagesDonald Trump's presidential transition team on Monday released a schedule of...
Despite cyclical downturn in India, govt unlikely to unleash any fiscal stimulus measures: Report, ET BFSI
India's market capitalization-to-GDP ratio has reached an all-time high, standing at approximately 135 per cent.NEW DELHI: India is currently experiencing a cyclical economic downturn, with gross domestic product (GDP) growth projected at 6.1 per cent for both FY25...
Critical minerals are big part of Donald Trump’s fixation
An aircraft alledgedly carrying US businessman Donald Trump Jr. arrives in Nuuk, Greenland on January 7, 2025.Emil Stach | Afp | Getty ImagesU.S. President-elect Donald Trump's pursuit to acquire Greenland could well be motivated by critical minerals, with mining...
U.S. Justice Department releases report on Trump attempt to overturn 2020 election
Special Counsel Jack Smith makes a statement to reporters about the 37 federal charges returned by a grand jury in an indictment of former U.S. President Donald Trump on charges of unauthorized retention of classified documents and conspiracy to obstruct justice as...
Biden gives foreign policy legacy speech
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is delivering an address aimed at highlighting his foreign policy achievements in office.The Democratic president's speech at the...
Trump Media DJT shares jump ahead of inauguration
Jakub Porzycki | Nurphoto | Getty ImagesShares of Trump Media jumped more than 14% in midday trading Monday, ahead of President-elect Donald Trump's inauguration next week.The stock is now on pace for its best day since Nov. 18, when shares surged 16.65% following...
Jeff Bezos enables Trump democracy threat: Outgoing Washington Post columnist
Jeff Bezos, founder and executive chairman of Amazon and owner of the Washington Post, takes the stage during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City. Michael M. Santiago | Getty ImagesAmazon founder...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Trimming techU.S. stock futures fell Monday as investors were poised to drop key tech stocks. The drop in growth stocks comes as the U.S. 10-year Treasury yield climbs. A...
Finance ministry to meet heads of banks on Jan 15 to review financial inclusion schemes, ET BFSI
The Finance ministry from time to time launched various drives to achieve saturation under Pradhan Mantri Jan dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).NEW DELHI: Finance Ministry has called a meeting...
U.S. tightens its grip on AI chip flows across the globe
US President Joe Biden delivers remarks on advancing the safe, secure, and trustworthy development and use of artificial intelligence, in the East Room of the White House in Washington, DC, on October 30, 2023.Brendan Smialowski | AFP | Getty ImagesThe U.S. government...
Foreign capital inflows return in Dec, RBI’s easing cycle likely to begin in Feb, ET BFSI
New Delhi, The conditions are turning favourable for rate cuts in India and the Reserve Bank of India's (RBI) easing cycle is likely to begin from February, according to a report on Monday.The central bank's neutral policy stance gives it flexibility to cut rates.Food...
Finmin to meet heads of banks on Jan 15 to review financial inclusion schemes, ET BFSI
Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday to review progress of various financial inclusion schemes, including Jan Suraksha and Mudra Yojana. The meeting, which would see participation from representatives of private...
Business correspondents urge RBI to ease domestic transfer limits and rules, ET BFSI
Business correspondents (BCs)-who process thousands of crores of rupees daily in domestic remittances-have urged the Reserve Bank of India (RBI) to relax the restrictions it had imposed on monthly and daily transfers 14 years ago, according to people aware of the...
Finmin may skip bold cuts in personal I-T or surcharge for the rich, but can still take steps to ease burden, ET BFSI
Sovereigns are like business empires. As conglomerates tirelessly dream up ways to conquer new markets, states religiously devise methods to mop up more tax. They pose as morally righteous, innovative and guardians of national interest - yet, endeavouring to appear...
LA still in ‘dangerous situation’
The U.S. military is prepared to deploy to help contain the wildfires that have devastated Los Angeles, Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell said Sunday."There are active duty military personnel that are on a 'prepare to deploy'...
Trump Treasury pick Bessent to divest assets to avoid conflicts
Scott Bessent, who U.S. President-elect Donald Trump has nominated to lead the U.S. Treasury Department, walks towards the New York Stock Exchange (NYSE), on the day U.S. President-elect Donald Trump will ring the opening bell at NYSE to celebrate being named Time...
Biden admin delays enforcement of order blocking Nippon Steel, U.S. Steel deal, companies say
U.S. President Joe Biden attends a briefing on the federal response to the wildfires across Los Angeles, in the Oval Office at the White House in Washington, U.S., Jan. 10, 2025. Elizabeth Frantz | ReutersThe Biden administration delayed until June an order for Nippon...
Special counsel Jack Smith resigns from DOJ as Trump’s fight to block final report continues
Special counsel Jack Smith, who is overseeing the prosecution of former President Donald Trump in two federal cases, was the target of an attempted swatting at his Maryland residence on Christmas Day.Ricky Carioti | The Washington Post | Getty ImagesSpecial Counsel...
Can you switch from fixed to floating interest rate when RBI cuts repo rate and vice-versa?, ET BFSI
The Reserve Bank of India (RBI) has issued a new circular on FAQs on 'Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans'. It states that regulated entities, such as banks, must provide the home loan borrower with the option of...
Gold trade bodies call for flexibility in monetisation scheme, ET BFSI
Indians have an estimated 22,000 tonnes of gold lying in their households, equivalent to what the country would have imported in 26 years to make jewellery, bars and coins. To unleash this idle gold and help reduce imports, gold trade bodies have written to the...
RBI stares at acute banking liquidity crunch as MIBOR breaches 7%, ET BFSI
India's interbank liquidity has tightened significantly, prompting calls for the Reserve Bank of India (RBI) to adopt proactive measures such as buy/sell swaps, OMO purchases, and potential CRR cuts to ease the crunch. With the Money Market Interbank Offer Rate...
Penalties surge as RBI cracks the whip on lenders, ET BFSI
Mumbai: Increasing enforcement of penalties by the Reserve Bank of India (RBI) last fiscal are reflected in the sharp jump on bank payments under such heads during the year.Reserve Bank of India (RBI) data in the annually published Trend and Progress of Banking in...
Fired Disney employee to plead guilty in peanut hacking case
File: Guests eat at Great Maple Restaurant at the Pixar Place Hotel at the Disneyland Resort in Anaheim, CA.Paul Bersebach | Medianews Group | Getty ImagesA former Disney employee agreed to plead guilty in a federal criminal case where he is accused of hacking into...
Trump Organization to limit president-elect’s involvement under new ethics plan
U.S. President-elect Donald Trump speaks after a meeting with Republicans in Congress at the U.S. Capitol building in Washington, U.S. Jan. 8, 2025. Jeenah Moon | ReutersThe Trump Organization on Friday unveiled a new ethics plan that it says will limit...
Trump seeks Putin meeting as Biden announces aid package to Kyiv
A souvenir shopkeeper displays Matryoshka dolls featuring Russian President Vladimir Putin and U.S. presidents, including Donald Trump.Misha Friedman | Getty Images News | Getty ImagesPresident-elect Donald Trump floated the possibility of a meeting with Kremlin...
Trump sentenced without penalty in New York hush money case
U.S. President-elect Donald Trump appears remotely for a sentencing hearing in front of New York State Judge Juan Merchan with his attorney Todd Blanche (L) at Manhattan Criminal Court on January 10, 2025 in New York City. Curtis Means | Getty ImagesPresident-elect...
Former WWE boss Vince McMahon resolves SEC charges over undisclosed settlements
TKO Executive Chairman of the Board Vince McMahon is seen during a ceremony announcing Dwayne "The Rock" Johnson has joined the Board of Directors for TKO at New York Stock Exchange on January 23, 2024 in New York City.Michelle Farsi | UFC | Getty ImagesThis is...
Judge scraps Biden’s Title IX rules, reversing expansion of protections for LGBTQ+ students
U.S. President Joe Biden delivers remarks during the Tribal Nations Summit at the Department of the Interior in Washington, D.C., U.S., December 9, 2024. Elizabeth Frantz | ReutersThe Biden administration's Title IX rules expanding protections for LGBTQ+ students have...
Venezuela opposition leader Machado freed, movement says
Venezuelan opposition leader Maria Corina Machado waves a national flag during a protest called by the opposition on the eve of the presidential inauguration, in Caracas on January 9, 2025. Juan Barreto | Afp | Getty ImagesVenezuela opposition leader Maria...
Supreme Court rejects Trump hush money sentencing delay bid
Former U.S. President Donald Trump, alongside his attorney Todd Blanche, speaks to the media as he arrives for his criminal trial for allegedly covering up hush money payments at Manhattan Criminal Court on May 30, 2024 in New York City.Michael M. Santiago | Via...
RBI likely to follow the path of shallow rate cut in Feb MPC meeting: Report, ET BFSI
New Delhi [India], January 10 (ANI): The Reserve Bank of India (RBI) may opt for shallow rate cuts in its upcoming Monetary Policy Committee (MPC) meeting in February 2025, says a report by Sharekhan, a capital markets company. This comes amidst a cautious global...
Photos show former President Jimmy Carter’s state funeral
A picture of U.S. President Jimmy Carter is seen as members of the public sign a condolence book in the U.S. Capitol Visitor Center on Jan. 8, 2025 in Washington, DC.Kevin Dietsch | Getty ImagesAmerican politicians, foreign dignitaries and family members honored...
Biden to deliver eulogy at Jimmy Carter’s state funeral
[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden will deliver a eulogy Thursday morning at the state funeral for former President Jimmy Carter.The speech at the Washington...
Lebanon’s army chief elected president, showing regional shifts
Lebanese lawmakers attend a parliamentary session to elect a president, in Beirut, on Jan. 9, 2025. Anwar Amro | Afp | Getty ImagesLebanon's parliament elected army chief Joseph Aoun head of state on Thursday, filling the vacant presidency with a general who enjoys...
Yakuza leader pleads guilty to trafficking nuclear materials in New York
Takeshi Ebisawa, a leader of the Japanese organized crime syndicate yakuza, in an undated photo. Ebisawa pleaded guilty on Jan. 8, 2025, in New York federal court to charges of trafficking nuclear materials and conspiracy to traffic narcotics and heavy weapons.NBC...
Will new RBI Governor change the central bank’s rupee management policy?, ET BFSI
India's new Reserve Bank of India (RBI) Governor, Sanjay Malhotra, faces a critical choice on managing the rupee's exchange rate: maintain the tightly controlled approach of his predecessor or adopt a more flexible stance as the dollar continues to strengthen.Under...
Man arrested at U.S. Capitol with machete as Jimmy Carter lies in state
A machete and three knives that U.S. Capitol Police say were confiscated from a man who was arrested at a Capitol screening checkpoint as former President Jimmy Carter lay in state in the Capitol Rotunda, Jan. 8, 2025.Source: The United States Capitol PolicePolice...
What Union Budget 2024 delivered, ET BFSI
Finance Minister Nirmala Sitharaman has already concluded the pre-budget consultation with about nine stakeholder groups, and the Union Budget 2025 is slated to be presented on February 1, also marking Sitharaman’s eighth budget. While this year's key announcements...
Biden cancels Italy trip due to California wildfires
US President Joe Biden arrives on the South Lawn of the White House as he returns to Washington, DC, from Camp David, on Jan. 2, 2025. Chris Kleponis | AFP | Getty ImagesU.S. President Joe Biden canceled an upcoming trip to Italy due to the wildfires in California,...
Tuhin Kanta Pandey appointed as Revenue Secretary; Arunish Chawla named as DIPAM Secretary, ET BFSI
Tuhin Kanta Pandey, currently Secretary of the Department of Investment and Public Asset Management (DIPAM), has been appointed as Secretary of the Department of Revenue, succeeding Shri Arunish Chawla, the Appointments Committee of the Cabinet (ACC) on Wednesday...
India’s new central bank chief seeks to improve forecasts, sources say, ET BFSI
By Siddhi Nayak and Swati BhatMUMBAI - India's new central bank governor Sanjay Malhotra has initiated a review of the Reserve Bank of India's inflation and growth forecasting tools to minimise projection errors, four sources said.Malhotra, who took charge last month,...
Musk is courting Germany’s far right. European leaders can’t do much about it
Elon Musk's plan to host a chat with the leader of the Alternative for Germany (AfD) party on his X social media platform has angered European politicians— but they'll struggle to stop him.The tech billionaire is set to speak on Thursday with Alice Weidel, head of the...
Covid stimulus may have contributed ‘a little bit’ to inflation
Treasury Secretary Janet Yellen speaking with CNBC's Sara Eisen (not shown) at the U.S Treasury Department on Jan. 8th, 2024.CNBCTreasury Secretary Janet Yellen said Wednesday that the stimulus spending signed into law by President Joe Biden to aid the U.S. recovery...
Finmin to hold meeting with MFI players on Wed, ET BFSI
Union Finance Minister, Nirmala SitharamanNew Delhi, Finance Ministry will hold a meeting with microfinance institutions (MFIs) on Wednesday amid rising bad loans and delinquencies across all types of lenders in the sector. According to sources, the Department of...
Trump won’t rule out using U.S. military to control Panama Canal, Greenland
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday declined to rule out using the U.S. military to take control of the Panama Canal and Greenland,...
RBI consolidates instructions on credit information of customers, ET BFSI
RBI consolidates instructions on credit information of customersThe RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the...
Trump threatens hell if Gaza hostages not released
U.S. President-elect Donald Trump gestures as he makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump warned Tuesday that "all hell will break out in the Middle East" if Hamas does not release the...
RBI announces results of 3rd edition of Global Hackathon, ET BFSI
Mumbai, The Reserve Bank on Tuesday announced the names of the winners of the third edition of its Global Hackathon with the themes 'Zero Financial Frauds' and 'Being Divyang Friendly'. The hackathon received an enthusiastic response with 534 proposals, of which 39...
Trump loses bid to halt sentencing in hush money case
Former President Donald Trump arrives at Manhattan Criminal Court, Thursday, May 30, 2024, in New York.Seth Wenig | Via ReutersA New York appeals court judge on Tuesday rejected a request by President-elect Donald Trump to delay his criminal sentencing Friday for his...
Trump announces $20 billion foreign investment to build new data centers
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday announced a $20 billion foreign investment to build new data centers across the United...
FTC chair Lina Khan fears Trump deal for Amazon, Facebook
Federal Trade Commission Chair Lina Khan said Tuesday she hopes the incoming Trump administration will not let Amazon and Facebook parent Meta off the hook from pending antitrust lawsuits by her agency with a "sweetheart deal."But, "I can't predict what future people...
Pension oriented schemes among mutual funds’ 15-point suggestion to Finance Minister, ET BFSI
The Association of Mutual Funds in India (AMFI) has submitted a detailed 15-point proposal to the Union Ministry of Finance ahead of the Union Budget FY25-26. Key highlights include the restoration of long-term indexation benefits for debt schemes, adjustments to...
RBI consolidates instructions on credit information of customers, ET BFSI
RBI consolidates instructions on credit information of customersThe RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the...
Trump seeks to block New York hush money sentencing
Former U.S. President Donald Trump sits in the courtroom during his hush money trial at Manhattan criminal court on April 26, 2024 in New York City. Michael M. Santiago | Getty ImagesAttorneys for President-elect Donald Trump sought to block his scheduled sentencing...
Canada’s Prime Minister Justin Trudeau resigns as Liberal Party leader
Canada Prime Minister Justin Trudeau makes an announcement outside Rideau Cottage in Ottawa on Monday, Jan. 6, 2025.Adrian Wyld | The Canadian Press via APCanada's Justin Trudeau on Monday said he would step down from the helm of the ruling Liberal Party, but will...
Congress to certify Trump’s election win over Harris
FILE PHOTO: A mob of supporters of U.S. President Donald Trump fight with members of law enforcement at a door they broke open as they storm the U.S. Capitol Building in Washington, U.S., January 6, 2021.Leah Millis | ReutersCongress will convene Monday to certify...
Italy’s right-wing leader Meloni positions herself as Trump’s ally in Europe
U.S. President-elect Donald Trump meets with Italian Prime Minister Giorgia Meloni at Mar-a-Lago in Palm Beach, Florida, U.S. January 4, 2025. Italian Government | ReutersItalian Prime Minister Giorgia Meloni made a surprise visit to Mar-a-Lago on Sunday, meeting...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Looking for a rebound Traders work on the floor at the New York Stock Exchange on Dec. 10, 2024.Brendan McDermid | ReutersU.S. stock futures ticked higher Monday after a losing...
Elon Musk asks if US should ‘liberate Britain’
Tesla CEO Elon Musk, Co-Chair of the newly announced Department of Government Efficiency (DOGE), arrives on Capitol Hill on December 05, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesElon Musk has questioned whether the United States should "liberate the...
Zelenskyy says Kyiv security guarantees will only work if the U.S. provides them
(COMBO) This combination of pictures created on November 07, 2024 shows Ukraine's president Volodymyr Zelensky (L) arrives to give a press conference on the sideline of a EU summit in Brussels, on October 17, 2024, and former US President and Republican presidential...
Experts eye fiscal consolidation, MSME credit reforms, ET BFSI
Finance Minister Nirmala Sitharaman will table the Union Budget 2025 on February 1 in the Lok Sabha. With India aspiring to achieve its Viksit Bharat 2047 vision and climb to the position of the third-largest global economy, unveiling of Budget 2025 precedes many...
Canada PM Trudeau is likely to announce resignation, Reuters reports
The Prime Minister of Canada, Justin Trudeau, walks through the streets of the capital before attending the APEC CEO Summit, a business event held in parallel with the APEC Summit, on November 15, 2024, in Lima, Peru. Klebher Vasquez | Anadolu | Getty ImagesCanadian...
Melania Trump movie by Amazon Prime planned
Former U.S. President and Republican presidential candidate Donald Trump and former first lady Melania Trump smile after speaking during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, early on Nov. 6, 2024.Jim Watson |...
Jimmy Carter’s funeral begins by tracing 100 years from rural Georgia to the world stage
Former President Jimmy Carter interviewed for "The Presidents' Gatekeepers" project at the Carter Center, Atlanta, Georgia, September 14, 2011.David Hume Kennerly | Archive Photos | Getty ImagesJimmy Carter 's extended public farewell began Saturday in Georgia, with...
Washington Post cartoonist quits after drawing of Bezos, other billionaires with Trump rejected
Editorial cartoonist Ann TelnaesCourtesy of Ann TelnaesA Washington Post cartoonist has quit her role at the paper, saying that her bosses blocked publication of a satirical cartoon that depicted billionaires, including one resembling Post owner Jeff Bezos, kneeling...
RBI Bhubaneswar branch holds financial literacy programme for visually challenged persons, ET BFSI
Bhubaneswar, As part of its drive to create awareness on financial literacy among people, RBI's Bhubaneswar branch on Saturday organised a programme for visually challenged persons and distributed booklets translated into Braille script among the participants. The...
Hillary Clinton, George Soros and Denzel Washington will receive the highest U.S. civilian honor
US President Joe Biden and former secretary of state Hillary Clinton look on as former president Bill Clinton (not pictured) speaks during the Clinton Global Initiative annual meeting in New York on September 23, 2024. Andrew Caballero-Reynolds | AFP | Getty...
All you need to know, from expected tax reforms to fiscal measures, ET BFSI
Union Budget 2025With the economy facing challenges like a 5.4 per cent growth rate in Q2 FY25, the lowest in seven quarters and high inflation, the upcoming Union Budget 2025 will play a crucial role in steering India’s fiscal policy toward sustained growth. The...
RBI removes lending restrictions on microfinance company Arohan Financial Services, ET BFSI
Kolkata: The Reserve Bank of India has removed the lending restrictions on microfinance company Arohan Financial Services after it became satisfied with the company's revamped processes as well as its commitment to adhere to the regulatory guidelines.Arohan can resume...
RBI okays NCBL, Cosmos Co-operative bank merger, BFSI News, ET BFSI
The Reserve Bank of India (RBI) today approved the amalgamation of the National Co-operative Bank Ltd., Bangalore (Karnataka) with Cosmos Co-operative Bank Limited (Maharashtra). The scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4)...
Trump hush money sentencing set for Jan. 10
Former U.S. President Donald Trump leaves the courthouse after a jury found him guilty of all 34 felony counts in his criminal trial at New York State Supreme Court in New York on May 30, 2024.Justin Lane | Via ReutersA judge on Friday rejected a request that he...
Trump touts Mike Johnson for House speaker
U.S. President-elect Donald Trump shakes hands with U.S. House Speaker Mike Johnson (R-LA) as he meets with House Republicans on Capitol Hill in Washington, U.S., November 13, 2024. Brian Snyder | ReutersPresident-elect Donald Trump again called on fellow Republicans...
Trump says UK is making a very big mistake with North Sea windfall tax
The NKT Victoria cable laying ship operates off the coast of Marske by the Sea as it lays cable as part of the Sofia Offshore Wind Farm project on August 17, 2024 in Marske By The Sea, United Kingdom.Ian Forsyth | Getty Images News | Getty ImagesU.S. President-elect...
ETBFSI session to discuss financial sector expectations today, ET BFSI
Anticipation is building as Union Minister for Finance & Corporate Affairs Nirmala Sitharaman prepares to present the Union Budget 2025 on February 1. With inflation running high, growth projections slipping to as low as 5.4 per cent in Q2 of FY25, and...
Banking liquidity in deficit in December, RBI moves cap call rate, ET BFSI
The banking system liquidity slipped into deficit in December for the first time since June 2024 even as both tranches of the easing of cash reserve ratio (CRR) came into effect, infusing ₹1.16 lakh crore.Despite the deficit, the Reserve Bank of India has managed to...
RBI may reduce policy rates by 50 basis points in the first half of 2025: Jefferies, ET BFSI
New Delhi [India], January 3 (ANI): The Reserve Bank of India (RBI) is likely to cut policy rates by 50 basis points (bps) in the first half of 2025, says a report by Jefferies. This after the central bank eased its stance on liquidity and reduced the Cash Reserve...
How new RTGS, NEFT verification facility would help prevent cyber frauds, ET BFSI
The Reserve Bank of India (RBI) has introduced a new beneficiary bank account name look-up facility for the Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, aimed at enhancing the security and accuracy of digital transactions....
South Korean guards prevent arrest of impeached Yoon Suk Yeol after stand-off
Around 30 supporters of impeached President Yoon Suk Yeol stage a sit-in protest in front of his official residence to block his arrest by the police in Seoul, South Korea, on January 2, 2025. A Seoul court issues a detention warrant for Yoon over his failed attempt...
When does a Central Bank succeed most in volatile, uncertain environments?, ET BFSI
RBI Governor Sanjay MalhotraVUCA, or volatility, uncertainty, complexity, and ambiguity, has been a global concern, according to the governor of the Reserve Bank of India (RBI). Many nations are experiencing economic recession, which has harmed the global economy and...
Chinese hack of U.S. Treasury breached sanctions office, Washington Post says
A view from the United States Department of the Treasury building in Washington DC, United States on December 30, 2024. The US Treasury Department was cyberattacked by a Chinese state-sponsored actor in early December. Celal Gunes | Anadolu | Getty ImagesChinese...
How Is the RBI intervening in the forex market to shore up the rupee?, ET BFSI
In recent months, the RBI has actively engaged in the forex market, using a combination of forward market positions and dollar sales to manage the rupee’s value. But with external pressures and a sharp depreciation in the final quarter of 2024, the effectiveness of...
Healthy growth set to return this fiscal; rate cut likely sooner, ET BFSI
New Delhi, India will have to navigate geopolitical headwinds, tame domestic inflation and nudge the private sector to further loosen their purse strings as the world's fastest-growing major economy seeks more purple patches in 2025, leaving behind September quarter...
Nippon Steel offers U.S. government veto power in bid for U.S. Steel approval, source tells Reuters
A water tower at the U.S. Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, on Sept. 4, 2024.Justin Merriman | Bloomberg | Getty ImagesJapan's Nippon Steel has proposed giving the U.S. government veto power over any potential cuts to U.S. Steel's...
Trump says he will attend Jimmy Carter’s funeral
U.S. President-elect Donald Trump looks on during Turning Point USA's AmericaFest at the Phoenix Convention Center on December 22, 2024 in Phoenix, Arizona. Rebecca Noble | Getty ImagesPresident-elect Donald Trump said he would attend next week's state funeral for...
Economic revival or mirage? RBI Governor Malhotra makes growth predictions for first time, ET BFSI
India’s economic growth is poised for a revival in 2025, supported by strong consumer and business confidence, Reserve Bank of India (RBI) Governor Sanjay Malhotra stated in his first comments on the growth outlook since assuming office earlier this month.In the...
U.S. Treasury says its computers were hacked by a Chinese ‘threat actor’ in a ‘major incident’
The exterior of the U.S. Department of Treasury building is seen as they joined other government financial institutions to bail out Silicon Valley Bank's account holders after it collapsed on March 13, 2023 in Washington, DC.Chip Somodevilla | Getty ImagesThe U.S....
Stress may tell on lenders, pile on NPAs, erode buffers, ET BFSI
MUMBAI: The central bank’s Financial Stability Report projected that commercial banks could witness a rise in the share of bad loans and that their capital buffers may decline in extreme stress scenarios.It also voiced concerns over lingering microfinance and consumer...
Stress in microfinance sector doubles in April to September 2024: RBI, ET BFSI
Asset quality stress in the microfinance (MFI) sector has doubled in the April to September 2024 period, with loans due more than 31 to 180 days rising to 4.30% at the end of September 2024 versus 2.15% at the end of March 2024, the Financial Stability Report showed....
Madoff victim fund covers most of Ponzi scheme losses: DOJ
Financier Bernard Madoff leaves Manhattan Federal court March 10, 2009 in New York City. Madoff attended a hearing regarding the conflicting status of his legal representation in his multi-billion dollar fraud allegations.Chris Hondros | Getty ImagesThe 10th and final...
U.S. announces $5.9 billion in military and budget aid to Ukraine
President Joe Biden (R) shakes hands with Ukraine's President Volodymyr Zelensky (L) as they hold a bilateral meeting at the Intercontinental Hotel in Paris, on June 7, 2024. Biden announced $225 million in new aid for Ukraine during talks with Zelensky in Paris. Saul...
Trump loses appeal of E. Jean Carroll $5 million defamation verdict
Writer E. Jean Carroll arrives at the 2nd U.S. Circuit Court of Appeals, where former U.S. President Donald Trump will arrive to ask a federal appeals court to overturn a $5 million jury verdict finding him liable for sexually assaulting and defaming her, who accused...
Trump gives US House Speaker Johnson ‘complete and total endorsement’
U.S. Speaker of the House Mike Johnson shakes hands with U.S. President-elect Donald Trump onstage at a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC.Andrew Harnik | Getty ImagesU.S. President-elect...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Taking stockThe final two days of the trading year will help to determine just how strong 2024 is for stocks. U.S. futures traded lower Monday following a losing session for the...
Consumer, business confidence to remain high in 2025, investment scenario brighter: RBI Guv, ET BFSI
Reserve Bank of India (RBI) Governor, Sanjay Malhotra, in the foreword of the December 2024 edition of RBI’s Financial Stability Report said the prospects of the Indian economy are expected to improve following the recent slowdown in gross domestic product (GDP)...
‘I could have wiped Iran off the map’
Quotations by former President Jimmy CarterFormer President Jimmy Carter, March 25, 2014.Getty Images"My name is Jimmy Carter, and I'm running for president." — Opening his acceptance speech at the Democratic National Convention, July 15, 1976."I've looked on a lot of...
RBI Innovation Hub pilots digital unsecured loans for gig workers, ET BFSI
The Reserve Bank of India Innovation Hub (RBIH) has onboarded digital lender Vivifi Finance to run a pilot project to offer unsecured loans to gig workers, two people with the knowledge said.The pilot that was launched a fortnight ago is aimed at creating a digital...
Jimmy Carter dies at age 100
Former U.S. President Jimmy Carter holds up his Nobel Peace Prize Dec. 10, 2002, in Oslo, Norway. During his acceptance speech, Carter urged others to work for peace.Arne Knudsen | Getty Images News | Getty ImagesJimmy Carter, the Georgia peanut farmer who became a...
Boosted by domestic consumption, India’s economy to achieve up to 7.3% growth in FY2026: Deloitte, ET BFSI
Earlier this month, the Reserve Bank of India cut its growth forecast for the current fiscal to 6.6% from 7.2% projected in June.NEW DELHI: The Indian economy is likely to grow at 6.5-6.8% this fiscal and slightly higher between 6.7-7.3% in FY2026, boosted by domestic...
Easing liquidity, holding rates and why the move was right, ET BFSI
A rate cut of 50 bps is expected in February 2025 to spur the growth.The Reserve Bank of India (RBI) took a significant step on December 6, 2024, by reducing the Cash Reserve Ratio (CRR) from 4.5% to 4%. This move, after a series of ten consecutive status quo...
World leaders react to former U.S. President Jimmy Carter’s death
Then U.S. President Jimmy Carter speaking at a press conference on Sept. 1, 1977.Wally McNamee | Corbis Historical | Getty ImagesWorld leaders and U.S. politicians reacted to news that former U.S. President Jimmy Carter, who as president brokered peace between Israel...
US to send $1.25 billion in weapons to Ukraine before Biden leaves office
WASHINGTON (AP) — The United States is expected to announce that it will send $1.25 billion in military assistance to Ukraine, U.S. officials said Friday, as the Biden administration pushes to get as much aid to Kyiv as possible before leaving office on Jan. 20.The...
5 things to know before the stock market opens Friday
Here are the most important news items that investors need to start their trading day:1. Green ChristmasA Christmas tree stands in front of the New York Stock Exchange (NYSE), on the day U.S. President-elect Donald Trump is expected to ring the opening bell at NYSE to...
German president dissolves parliament for Feb. 23 snap elections
Members of the Bundestag debate before passing a resolution on Nov. 30, 2022 in Berlin, Germany. Sean Gallup | Getty Images News | Getty ImagesPresident Frank-Walter Steinmeier on Friday dissolved Germany's lower house of parliament to pave the way for snap elections...
RBI to banks, NBFCs, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will impose more regulatory curbs on unsecured lending if banks and finance companies do not mend their ways, it said in the Trends and Progress of Banking report published Thursday. The banking regulator also directed boards of...
India’s former PM Manmohan Singh dies aged 92
Indian Prime Minister Manmohan Singh makes a statement to the media after he was shouted down by opposition politicians in the lower house of Parliament, in New Delhi, India, Monday, Aug. 27, 2012. Singh took to Twitter on Monday to defend himself against a coal...
WT-ECIB scheme likely to benefit 1,000 new small exporters: Commerce ministry, ET BFSI
New Delhi, The ECGC is aiming to reduce the export credit gap through the WT-ECIB scheme, which is expected to benefit about 1,000 new small exporters, in addition to the existing 8,000-odd by facilitating the availability of adequate and affordable export finance...
RBI sets up 8-member committee to recommend framework for ethical AI in financial sector, ET BFSI
New Delhi [India], December 26 (ANI): Reserve Bank of India has set up an eight-member committee, comprising experts from diverse fields, to recommend a Framework for Responsible and Ethical Enablement of AI (FREE-AI) in the financial sector.The committee will submit...
Nirmala Sitharaman holds pre-budget meeting with trade experts, stakeholders, ET BFSI
India Budget: Union Finance Minister Nirmala Sitharaman chaired the fourth Pre-Budget Consultation meeting on Thursday with stakeholders and experts from the export, trade, and industry sectors in preparation for the Union Budget 2025-26.The Ministry of Finance, in a...
RBI spent $44.5 billion to defend rupee in October, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) combined intervention in forward and spot currency markets was worth $44.5 billion in October to support the rupee from weakening, the latest central bank data contained in its monthly bulletin showed.While spot sales amounted to $9.3...
RBI spent $44.5 billion to defend rupee in October, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) combined intervention in forward and spot currency markets was worth $44.5 billion in October to support the rupee from weakening, the latest central bank data contained in its monthly bulletin showed.While spot sales amounted to $9.3...
Govt aims to improve quality spending, cut fiscal deficit to 4.5 pc in FY26: Finmin report, ET BFSI
The government will continue its focus on improving quality spending, strengthening the social security net and bringing down the fiscal deficit to 4.5 per cent of the GDP in FY26, a finance ministry document said. Finance Minister Nirmala Sitharaman is scheduled to...
Why business leaders are spending big
Republican presidential nominee, former U.S. President Donald Trump arrives to speak during an election night event at the Palm Beach Convention Center on November 06, 2024 in West Palm Beach, Florida.Chip Somodevilla | Getty ImagesTop CEOs and their companies are...
Rising freebies, discom debt pushing states towards fiscal strain: RBI, ET BFSI
The Reserve Bank of India's (RBI) annual study of state finances flags increasing fiscal risks from rising subsidies and freebie announcements, coupled with mounting debt of state-run power distribution companies (discoms). These trends threaten fiscal consolidation...
Expected decline in food prices in January could increase odds of rate cut in Feb: ICICI Bank, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) could consider a rate cut in February if food inflation declines in January, according to a report by ICICI Bank.The report emphasized that a deceleration in food prices may strengthen the case for...
Ford donates $1 million and fleet of vehicles to Trump’s inauguration
Ford CEO Jim Farley poses for a photo before announcing at a press conference that Ford Motor Company will be partnering with the world's largest battery company, China-based Contemporary Amperex Technology, to create an electric vehicle battery plant in Marshall,...
Matt Gaetz sex, drug report released by House Ethics Committee
U.S. Representative Matt Gaetz (R-FL) listens to testimony during a U.S. House Judiciary Committee hearing entitled "Undue Influence: Operation Higher Court and Politicking at SCOTUS", looking into allegations that the former anti-abortion leader Rev. Robert Schenck...
RBI denies banks extra time to label dodgy borrowers as willful defaulters, ET BFSI
Mumbai: The Reserve Bank of India (RBI) has turned down banks' plea for more time to brand a dodgy borrower as 'wilful defaulter' - a client who diverts borrowed funds or refuses to repay loans despite having the wherewithal to do so.About a fortnight ago, the...
RBI rate cuts may be delayed on US Fed action, rupee pressure, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) may delay its anticipated rate cuts, as pressure on the Indian rupee and rising foreign exchange (FX) intervention costs weigh on monetary policy decisions. Following recent moves by the US Federal Reserve, which...
Why Europe’s trade deal with South America is so controversial
Ursula von der Leyen, president of the European Commission, during a news conference at the Mercosur Leaders Summit in Montevideo, Uruguay, on Friday, Dec. 6, 2024.Bloomberg | Bloomberg | Getty ImagesThe European Union's blockbuster trade deal with South America's...
Trump says Putin wants a meeting as soon as possible about Ukraine war
U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.Brian Snyder | ReutersPresident-elect Donald Trump said Sunday Russian President Vladimir Putin has expressed his interest in a meeting regarding the war...
The fallout from the funding debacle
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersAs Congress regroups following another averted government shutdown, Democratic...
Weakened Iran could pursue nuclear weapon, White House’s Sullivan says
U.S. National Security Advisor, Jake Sullivan speaks during a press conference in Tel Aviv, Israel, 12 December 2024. Abir Sultan | Via ReutersThe Biden administration is concerned that a weakened Iran could decide to build a nuclear weapon, White House National...
Trump taps ex-Treasury official Miran as chair of Council of Economic Advisers
Stephen Miran, who was an adviser for economic policy at the U.S. Treasury Department when Donald Trump was last in office, has been tapped by the president-elect as the chair of his Council of Economic Advisers, Trump said on Sunday.The White House Council of...
Trump says he might demand Panama hand over canal
A cargo ship leaves the Panama Canal in Panama City on June 17, 2024.Martin Bernetti | APF | Getty ImagesPresident-elect Donald Trump on Saturday accused Panama of charging excessive rates for use of the Panama Canal and said that if Panama did not manage the canal in...
Senate review of Supreme Court ethics urges enforceable conduct code
A nearly two-year investigation by Democratic senators of Supreme Court ethics details more luxury travel by Justice Clarence Thomas and urges Congress to establish a way to enforce a new code of conduct.Any movement on the issue appears unlikely as Republicans...
Trump taps ‘Apprentice’ producer, Mark Burnett, as special envoy to the United Kingdom
Mark Burnett, the power producer who helped reintroduce Donald Trump to a national television audience with "The Apprentice," is being tapped by the president-elect as special envoy to the United Kingdom in his upcoming administration."With a distinguished career in...
Unregulated loan app operators in India may face 10 year jail, Rs 50 crore fines, ET BFSI
The central government has unveiled a draft bill aimed at tackling unregulated lending activities, with provisions that could impose penalties of up to Rs 50 crore and prison sentences of up to 10 years for violators. The proposed legislation, titled the Banning of...
Government shutdown averted after Senate passes House funding bill
WASHINGTON — The U.S. Senate approved a bipartisan federal spending bill early Saturday morning that averted a government shutdown and marked the end of a chaotic, high-stakes week in Congress. The bill authorizes continued funding of the federal government at...
RBI fined IndusInd Bk, & Manappuram Fin, BFSI News, ET BFSI
RBI fined IndusInd Bank and Manappuram Finance Rs 27 lakh and Rs 20 lakh, respectively. IndusInd Bank was penalised for non-compliance with norms related to 'interest rate on deposits'. Manappuram Finance was fined over KYC .agencies Published On Dec 21, 2024 at 09:07...
RBI may delay rate cut to April next year amid Fed’s hawkish stance, says Yes Bank report, ET BFSI
The Reserve Bank of India (RBI) may postpone the beginning of its rate cut cycle to April 2025 because of the Federal Reserve's shift towards a more hawkish monetary stance, said a report by Yes Bank."Given INR weakness and developing volatility in financial markets,...
RBI board reviews global, domestic economic situation, ET BFSI
Guwahati, The central board of the Reserve Bank of India (RBI) on Friday reviewed the global and domestic economic situation and outlook at a meeting chaired by new Governor Sanjay Malhotra. The 612th meeting of the Central Board of Directors of the RBI also placed on...
Centre proposes to curb unregulated lending with BULA Bill, BFSI News, ET BFSI
BULA Bill defines Unregulated Lending activities that cover practices including digital lending, that are not governed by existing financial regulations or laws.The Department of Financial Services on Thursday introduced the draft Banning of Unregulated Lending...
Trump-backed bill to avert government shutdown fails
WASHINGTON — A House Republican bill to fund the government for three months and suspend the debt ceiling for two years failed Thursday night, as dozens of rank-and-file Republicans voted against the deal endorsed by President-elect Donald Trump.Without a deal to fund...
Draft bill proposes prison terms, fines up to ₹1 crore for illegal lending via loan apps, ET BFSI
The government has also proposed an online database that would list regulated lenders and facilitate reporting of illegal lenders.NEW DELHI (Reuters) - The Indian government is seeking to clamp down on unregulated lending with a proposed law that would impose prison...
Trump transfers DJT shares to revocable trust: SEC filings
Aytac Unal/ | Anadolu | Getty ImagesPresident-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed Thursday evening.Trump did not receive any money for...
Trump says European Union must buy U.S. oil and gas in trade ultimatum
U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.Brian Snyder | ReutersU.S. President-elect Donald Trump on Friday said he told the European Union it must reduce its trade gap with the U.S. through oil...
RBI’s crypto stance in focus after bitcoin hits $1,00,000, ET BFSI
The Reserve Bank of India's (RBI) stance on cryptocurrencies will be keenly watched after the surge in bitcoin value with the election of Donald Trump as US President and arrival of a new governor at the central bank.The RBI under former governor Shaktikanta Das had...
Father, son plead guilty in $100 million New Jersey deli stock scheme
Peter Coker Sr. and his wife Susan Coker at U.S. District Court in Newark, New Jersey, March 15, 2023.Dan Mangan | CNBCA father and son pleaded guilty Thursday to orchestrating a brazen stock manipulation scheme involving a small New Jersey deli whose parent company...
Drone flights are temporarily banned over some areas of New Jersey
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe Federal Aviation Administration on Wednesday temporarily banned drone flights over 22 areas across New Jersey amid complaints of strange and often bright drones in the night...
Trump could spare Biden’s energy credits and still defeat IRA
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
House Republicans need Trump’s support to avoid government shutdown
U.S. Speaker of the House Mike Johnson (R-LA), and U.S. Senate Majority Leader Chuck Schumer (D-NY) listen during a Hanukkah reception at the U.S. Capitol Building on December 17, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesWASHINGTON — House Republican...
Luigi Mangione agrees to extradition in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, U.S. December 10, 2024. Eduardo Munoz | ReutersLuigi Mangione has...
Trump Georgia election case DA Fani Willis disqualified but indictment stands
Fulton County District Attorney Fani Willis looks on during a hearing in the case of the State of Georgia v. Donald John Trump at the Fulton County Courthouse on March 1, 2024, in Atlanta, Georgia.Alex Slitz-Pool | Getty Images News | Getty ImagesA Georgia appeals...
RBI flags rising subsidies by states as incipient stress, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Reserve Bank of India (RBI) on Thursday termed increasing spending by states on subsidies as an "incipient stress" and called for rationalisation of such outgoes.The central bank in a report 'State Finances: A Study of Budgets...
Indian states must set glide path for fiscal consolidation, says central bank report, ET BFSI
MUMBAI - Indian state governments must have clear and time-bound glide paths for fiscal consolidation with transparent and uniform reporting of liabilities, given the elevated debt levels, the Reserve Bank of India (RBI) said in a report on Thursday.States should also...
Fintechs seek RBI nod for credit line on UPI platform, BFSI News, ET BFSI
Non-banking finance companies (NBFCs) operating in the digital lending space have sought the Reserve Bank of India's permission to offer pre-approved credit on the United Payments Interface (UPI) platform, a product the central bank opened for small finance banks...
US Federal Reserve cuts key interest rates by 0.25%, BFSI News, ET BFSI
The US Federal Reserve has slashed interest rates by 0.25% on Wednesday, cutting the rates for the third time in a row, sidestepping concerns over inflation's downward path and the potential impact of Donald Trump's policy decisions.The Fed has lowered the federal...
Fed Chair Jerome Powell, ET BFSI
US Federal Reserve Chair Jerome Powell highlighted a cautious outlook after the central bank cut key interest rates by 0.25% to 4.25% to 4.5%. Inflation has eased but remains slightly elevated, he said, with projections of 2.4% for this year and 2.5% for 2025. Powell...
RBI may face tougher path in Feb rate cut as Fed reshaped global monetary policy expectations: Report, ET BFSI
The Reserve Bank of India (RBI) may face a tougher path for cutting interest rates in February, according to a report by Angel One's Ionic Wealth. The report attributed this to a shift in the U.S. Federal Reserve's stance on rate cuts, which has reshaped global...
UBS, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Federal Reserve's next steps on interest rates will be guided by economic data, according to a report by UBS. While the major global markets reacted negatively to the change in rate cut cycles by Fed for next year the report...
Trump joins Elon Musk in opposing House GOP’s government funding bill
President-elect Donald Trump on Wednesday came out against a Republican-backed government funding bill, siding with Elon Musk's crusade against the package and raising the odds of a government shutdown.Trump is opposed to the continuing resolution put forward by...
House Ethics Committee expected to release Matt Gaetz report
Rep. Matt Gaetz, R-Fla., talks with a staffer before the start of the House Armed Services Committee hearing on "An Update on Afghanistan in Washington on Wednesday, May 12, 2021.Caroline Brehman | CQ-Roll Call, Inc. | Getty ImagesThe House Ethics Committee secretly...
TikTok ban case to be heard by Supreme Court
The Supreme Court on Wednesday agreed to hear arguments by TikTok that a law that could lead to a ban of the popular social media app violates free speech protections in the U.S. Constitution.The Supreme Court scheduled oral arguments in the case for Jan. 10, nine...
M Rajeshwar Rao, Dy Governor RBI, ET BFSI
New Delhi [India], December 18 (ANI): M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), highlighted the importance of institutionalising data under the Insolvency and Bankruptcy Code (IBC) to provide valuable insights and precedents for handling...
How RBI maneuvered its policy in 2024, BFSI News, ET BFSI
At 6.5%, the benchmark interest rate today is exactly where it was when former Reserve Bank of India governor Shaktikanta Das took charge in late 2018, and the year 2024 has intensified the debate over whether the central bank should maintain this rate — a level it...
Warren says Trump needs to hold Elon Musk to ethics standards
U.S. President-elect Donald Trump walks with Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersSenator Elizabeth Warren has asked Donald...
RBI lifts restrictions on two Edelweiss Group cos, BFSI News, ET BFSI
Reserve Bank of India (RBI) has lifted the business restrictions on Edelweiss Group's NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies.“Having satisfied itself based on submissions...
RBI Deputy Governor, ET BFSI
The "buy now, pay later" (BNPL) schemes and the credit card spending facilitate immediate consumption and reduce the savings of the younger generations, said Michael Debabrata Patra, Deputy Governor, Reserve Bank of India.He also noted that these trends facilitate...
Luigi Mangione indicted in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, on Dec. 10, 2024.Eduardo Munoz | ReutersA New York grand jury...
How is the Union Budget prepared? Here are its key components and the process, ET BFSI
Finance Minister Nirmala Sitharaman is likely to present the annual budget 2025, her eighth consecutive Union Budget, on February 1.The annual budget details the planned expenditures and revenues for the fiscal year, which runs from April 1 to March 31. Expenditures...
Trump attorney alleges ‘grave juror misconduct’ in hush money trial
Former U.S. President Donald Trump, with attorney Todd Blanche, speaks to reporters as jurors are released to begin deliberations for his criminal trial at the Manhattan Criminal Court in New York, NY on Wednesday, May 29, 2024.Jabin Botsford | ReutersAttorneys for...
Enforcement Directorate recovers Rs 22,280 crore in assets from major economic offenders, including Vijay Mallya and Nirav Modi: Finance Minister, ET BFSI
On Tuesday, Finance Minister Nirmala Sitharaman informed the Lok Sabha about the Enforcement Directorate's (ED) substantial progress in recovering assets worth Rs 22,280 crore from various economic offenders. This amount includes over Rs 14,000 crore that was returned...
Biden’s DOJ antitrust head to step down, Reuters reports
US Assistant Attorney General Jonathan Kanter, with Attorney General Merrick Garland (L), speaks during a press conference announcing an antitrust lawsuit against Apple, at the Justice Department in Washington, DC, on March 21, 2024. Mandel Ngan | AFP | Getty...
Trump trade aide Peter Navarro denies tariff plans will spur inflation
Former director of the US Office of Trade and Manufacturing Policy Peter Navarro speaks on stage with his "Wife Bonnie" on the third day of the Republican National Convention at the Fiserv Forum on July 17, 2024 in Milwaukee, Wisconsin. Chip Somodevilla | Getty...
FTC bans hidden junk fees in hotel, event ticket prices
U.S. President Joe Biden delivers remarks on protecting consumers from hidden junk fees during an event at the South Court Auditorium at Eisenhower Executive Office Building on June 15, 2023 in Washington, DC.Alex Wong | Getty ImagesThe U.S. Federal Trade Commission...
Ukraine kills top Russian general in Moscow it accuses of chemical weapons crimes
Igor Kirillov, head of the Russian Defense Ministry's radiological, biological and chemical protection unit, speaks at a briefing over an alleged chemical attack on the Syrian city of Douma, at the Patriot park in the Moscow region on June 22, 2018. Afptv | Afp |...
Govt to push for green energy financing; MNRE minister to meet bank CEOs in January, ET BFSI
New Delhi: Union minister for new and renewable energy Pralhad Joshi on Tuesday said he would meet bank chairpersons and managing directors in January to discuss increasing financing for renewable energy projects. Industry stakeholders will also be part of the...
What are the key challenges before RBI in 2025?, ET BFSI
RBI Governor Sanjay MalhotraAs Sanjay Malhotra takes over as the 26th Governor of the Reserve Bank of India (RBI), the central bank faces a slew of critical tasks aimed at navigating an evolving economic landscape. From sustaining economic growth to enhancing...
Trump meets TikTok CEO, Supreme Court asked to block app ban
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024.Graeme Sloan | Bloomberg | Getty ImagesTikTok on Monday asked the Supreme Court to block a law that could effectively ban the...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Trump loses bid to toss New York hush money conviction
Former US President Donald Trump leaves the courthouse after a jury found him guilty of all 34 felony counts in his criminal trial at New York State Supreme Court in New York, New York, USA, 30 May 2024. Trump faced 34 felony counts of falsifying business records...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Government has taken many steps during the year to boost trade: Finance Ministry, ET BFSI
New Delhi [India], December 17 (ANI): A day after the commerce ministry released trade data for November showing the highest-ever trade deficit of USD 37.8 billion. The Ministry of Finance highlighted the various initiatives taken by the ministry this year to boost...
Trump picks China critic Glass as Japan envoy
American and Japan flags waving against the sky.Adventtr | Istock | Getty ImagesU.S. President-elect Donald Trump said on Monday he was picking George Glass, a former investment banker and diplomat notable for his criticisms of China, to serve as his ambassador to...
Canada finance minister quits after clash with Trudeau, deals blow to government
Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland, and Canada's Prime Minister Justin Trudeau speak at a news conference in Ottawa, Ontario, Canada, October 6, 2021.Patrick Doyle | ReutersCanada's Finance Minister Chrystia Freeland quit on...
Trump considers pardoning NYC Mayor Eric Adams
Mayor Eric Adams speaks to the press during the weekly briefing at the City Hall about the ongoing programs in New York City. Lev Radin | Lightrocket | Getty ImagesPresident-elect Donald Trump said Monday that he would "certainly look at" issuing a pardon for New York...
Trump transition team plans sweeping rollback of Biden EV, emissions policies
A Chevrolet Bolt EV sits parked at a charging station at Stewart Chevrolet on April 25, 2023 in Colma, California. Justin Sullivan | Getty Images News | Getty ImagesIncoming U.S. President Donald Trump's transition team is recommending sweeping changes to cut off...
German Chancellor Olaf Scholz loses confidence vote
German Chancellor Olaf Scholz will undergo a vote of confidence in Parliament on Monday, December 16.Michael Kappeler | Picture Alliance | Getty ImagesGerman Chancellor Olaf Scholz on Monday lost a confidence vote in the country's Bundestag, clearing the path for an...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Dull DecemberStocks enter the final full trading week of 2024 coming off a tough stretch. The Dow Jones Industrial Average has lost ground for seven straight sessions, and fell...
RPT-Domestic, global headwinds challenge Indian central bank’s fx intervention, ET BFSI
(Repeats story published on Dec. 13; no changes to text)By Nimesh Vora and Jaspreet KalraMUMBAI, - The Reserve Bank of India's efforts to slow the rupee's decline have been relentless but its already-stretched strategy is now challenged by weak economic growth, tepid...
Will RBI cut rates in February after inflation eases in November?, ET BFSI
India’s retail inflation eased to 5.5% year-on-year in November, down from 6.2% in October, bringing much-needed relief to policymakers. Food inflation also moderated from 10.9% to 9% during the same period. The decline in prices, particularly on a month-on-month...
DBT through Public Financial Management System supports Digital India: Finance Ministry, ET BFSI
DBT through Public Financial Management System supports Digital India: Finance MinistryNew Delhi [India], December 15 (ANI): The Department of Expenditure has been consistently improving direct benefit transfer (DBT) linkages between beneficiaries and onboarding with...
Rs 71,889 crore released to states under various heads for FY25 till now: Centre, ET BFSI
New Delhi, The government on Sunday said that based on the recommendations of 15th Finance Commission (XV-FC), Rs 71,889 crore has been released to the states under various heads for FY 2024-25.New Delhi, Dec 15 (IANS) The government on Sunday said that based on the...
South Korea’s acting president moves to calm markets after Yoon impeachment
A protester holding a cardboard reading "Leader of insurgents" on an image depicting the face of South Korea's President Yoon Suk Yeol takes part in a protest calling for his ouster outside the National Assembly in Seoul on December 8, 2024. Philip Fong | Afp | Getty...
ABC agrees to give $15 million to Donald Trump’s presidential library to settle defamation lawsuit
ABC News Anchor George StephanopoulosPaula Lobo | ABC | Getty ImagesABC News has agreed to pay $15 million toward Donald Trump's presidential library to settle a lawsuit over anchor George Stephanopoulos' inaccurate on-air assertion that the president-elect had been...
Many New Jersey drones sightings are ‘manned aircraft being misidentified as drones,’ FBI says
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe FBI and Department of Homeland Security said on Saturday that ongoing investigations around reported drone sightings over New Jersey have found "many of the reported drone...
Iran will not impede IAEA access, head of its atomic organization says
The flag of Iran is seen in front of the building of the International Atomic Energy Agency (IAEA) Headquarters on May 24, 2021 in Vienna, Austria.Michael Gruber | Getty Images News | Getty ImagesIran will not impede U.N. nuclear watchdog's access and inspection of...
Bank of America, Goldman to donate to Trump’s inaugural committee
A man walks by the Bank of America headquarters in New York on July 18, 2023.Eduardo Munoz | View Press | Getty ImagesBank of America, the second-largest U.S. lender, and investment bank Goldman Sachs plan to contribute to President-elect Donald Trump's inaugural...
South Korea’s President Yoon impeached after failed attempt to impose martial law
A screens shows footage of South Korean President Yoon Suk Yeol delivering an address to the nation at Seoul station on Dec. 7, 2024 in Seoul, South Korea.Chung Sung-jun | Getty Images News | Getty ImagesSouth Korea's President Yoon Suk Yeol was impeached on Saturday...
Nancy Pelosi hospitalized after injury in Luxembourg
Nancy Pelosi delivers remarks at the Anti-Corruption Champions Award Ceremony at the Department of State in Washington D.C, United States on December 9, 2024.Celal Gunes | Anadolu | Getty ImagesFormer House Speaker Nancy Pelosi was hospitalized after being injured...
Trump transition wants to scrap crash reporting requirement opposed by Tesla: Reuters
The remains of a Tesla vehicle are seen after it crashed in The Woodlands, Texas, April 17, 2021, in this still image from video obtained via social media. Video taken April 17, 2021. Scott J. Engle | Via ReutersThe Trump transition team wants the incoming...
If Ukraine fails against Russia, war will come to Europe: Dmytro Kuleba
Former Ukrainian Foreign Minister Dmytro Kuleba warned of the potential repercussions for the European Union if Ukraine does not prevail in its fight against Russia, telling CNBC that "if Ukraine fails, war will come to the streets of European cities.""Putin today has...
McKinsey & Co. to pay $650 million to settle opioid probe
The McKinsey & Company logo is displayed at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 21, 2023. Benoit Tessier | ReutersMcKinsey & Co. agreed to pay $650 million in a deferred prosecution agreement that will resolve a...
North Koreans charged in $88 million identity theft, extortion case
DPRK IT workers FBI wanted poster.Source: FBIThe Department of Justice accused 14 North Korean nationals of conspiring to use false identities to get IT jobs with U.S. companies and siphon money back to their home country, in violation of U.S. sanctions.The...
New Jersey drones are not national security threat, FBI says
Unidentified drone in New Jersey.Source: MSNBCThe FBI and Department of Homeland Security said Thursday that they had seen "no evidence" that mysterious drone sightings over New Jersey and adjacent areas in recent weeks "pose a national security or public safety...
SEC charges Cantor Fitzgerald, led by Trump’s Commerce pick
Howard Lutnick, chairman and CEO of BGC Partners Inc., speaks during the Piper Sandler Global Exchange and FinTech Conference in New York City, U.S., June 8, 2022. Brendan McDermid | ReutersWASHINGTON — The Securities and Exchange Commission on Thursday charged global...
Reserve Bank of India receives bomb threat, probe underway, BFSI News, ET BFSI
Mumbai (Maharashtra) [India], December 13 (ANI): The Reserve Bank of India (RBI) in Mumbai received a bomb threat email on Friday, police said. Police have registered a case against an unknown accused in connection with the bomb threat and started an investigation. "A...
Europe can make up the Ukraine funding shortfall if the U.S. withdraws, analysts say
The first General Dynamics F-16 Fighting Falcons received by Ukraine fly on the Day of Ukrainian Air Force on August 4, 2024 in Unspecified, Ukraine. At the event for the Day of Ukrainian Air Force with the participation of President of Ukraine Volodymyr Zelenskyi,...
RBI wary of fintech cos’ vehicle loan drive, ET BFSI
The MFI and fintech industry have been grappling with the issue of customers having more than four loans with a total outstanding of more than INR 2 lakh.The proliferation of fintech players in the light commercial vehicles and two-wheelers financing space has caught...
Top U.S. liquor distributor favored Costco, Kroger, other chains over small businesses: FTC
Cases of Beam Suntory Inc. Jim Beam brand bourbon sit stacked in the warehouse at Southern Glazer's Wine and Spirits LLC distribution center in Louisville, Kentucky, U.S., on Friday, Sept. 28, 2018. Luke Sharrett | Bloomberg | Getty ImagesThe Federal Trade Commission...
Watch full video of Donald Trump talking with Jim Cramer at the NYSE
After President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday morning, he spoke to CNBC's Jim Cramer from the trading floor about his plan for boosting the American economy.Trump refrained from making any stock market predictions,...
Meta donates $1 million to Trump’s inaugural fund: Reuters
Meta CEO Mark Zuckerberg makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024. Manuel Orbegozo | ReutersMeta Platforms has donated $1 million to President-elect Donald Trump's...
Trump rings bell at NYSE to cheers of ‘USA’ as Wall Street CEOs, business leaders look on
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after vowing an economic boom to a cheering crowd of traders and business leaders.Trump was flanked by Vice President-elect JD Vance, incoming first lady Melania Trump, NYSE...
FBI Director Christopher Wray to resign before Trump takes office
FBI Director Christopher Wray walks into a secure information area ahead of a closed-door security meeting on Capitol Hill in Washington on Sept. 25, 2024.Tom Brenner | The Washington Post | Getty ImagesFederal Bureau of Investigation Director Christopher Wray...
Rupee slips to record low pressured by NDF dollar bids, RBI likely steps in, ET BFSI
The rupee fell to 84.86 in early trading, eclipsing its previous record low of 84.8575 hit on Tuesday.The Indian rupee weakened to its all-time low on Wednesday, pressured by heightened dollar bids in the non-deliverable forwards market, while likely intervention by...
Luigi Mangione’s notebook mentioned killing of UnitedHealthcare CEO
A notebook found with Luigi Mangione contains a description of killing a CEO that matches details of his alleged murder of UnitedHealthcare's CEO in New York last week, NBC News reported Wednesday."What do you do?" a section of the notebook says."You wack the CEO at...
Real estate stars Oren, Tal Alexander and brother arrested after sex assault claims
Tal Alexander (L) and Oren Alexander (R).Getty ImagesTop real estate agents Tal and Oren Alexander and their brother, Alon, who have been accused of sexual assault in multiple lawsuits, were arrested in Miami on Wednesday.Federal prosecutors in New York, who announced...
Trump’s White House return is already pushing Europe and the UK closer together
British Chancellor of the Exchequer Rachel Reeves talks to the media at the EU Council headquarter on Dec. 9, 2024 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty ImagesBRUSSELS, Belgium ꟷ President-elect Donald Trump has not yet re-entered the...
RBI Governor Sanjay Malhotra, ET BFSI
Sanjay Malhotra takes charge as 26th RBI GovernorAddressing his first press conference after assuming the charge of Reserve Bank of India (RBI) Governor, Sanjay Malhotra said, It’s a huge responsibility, and all decisions will be taken with public interest in mind.“I...
‘Will do what’s best for economy,’ says newly appointed RBI Governor Sanjay Malhotra, ET BFSI
Newly appointed Reserve Bank governor Sanjay Malhotra on Tuesday said that he will work towards what is best for the economy when he takes charge at the central bank.Malhotra will take charge as the 26th RBI governor on Wednesday. "This is a completely new role and...
Trump vows ‘fully expedited’ permits for $1 billion investments in U.S.
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump vowed Tuesday that people or companies who invest...
Analysts, BFSI News, ET BFSI
Mumbai, The appointment of Sanjay Malhotra as the new RBI Governor "cements" the possibility of a rate cut at the next policy review in February, analysts said on Tuesday. Outgoing Governor Shaktikanta Das was "sticking to his guns" on rates as seen at the December 6...
Fed Chair Jerome Powell can serve remainder of term, Scott Bessent says
Federal Reserve Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on Nov. 7, 2024.Kent Nishimura | Getty ImagesFederal Reserve Chair Jerome Powell can finish his term leading the U.S. central bank...
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years, ET BFSI
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years (Image Source: RBI)The newly appointed Sanjay Malhotra takes charge as the 26th Governor of Reserve Bank of India for the next 3 years on Wedneday. His tenure is effective from December 11, 2024, a day...
Inflation major challenge globally, no country can tackle it in isolation: Nirmala Sitharaman, ET BFSI
New Delhi: Union Finance Minister Nirmala Sitharaman during the CII Global Economic Policy Forum, in New Delhi. (PTI Photo/Shahbaz Khan)(Finance Minister Nirmala Sitharaman while addressing the CII Global Economic Policy Forum said that inflation continues to be a...
Yellen discusses South Korean political crisis with country’s finance minister
Treasury Secretary Janet Yellen speaks at the Council on Foreign Relations in New York City, U.S., October 17, 2024. Andrew Kelly | ReutersU.S. Treasury Secretary Janet Yellen spoke to South Korean Finance Minister Choi Sang-mok on Tuesday and discussed South Korea's...
Luigi Mangione rages before UnitedHealthcare murder extradition hearing
Luigi Mangione is led into the Blair County Courthouse for an extradition hearing December 10, 2024 in Hollidaysburg, Pennsylvania. Jeff Swensen | Getty ImagesAn agitated Luigi Mangione yelled at reporters outside a Pennsylvania courthouse before a hearing on his...
Note by UnitedHealthcare murder suspect
Luigi Mangione seen in a McDonald's restaurant in Altoona, P.A. on Dec. 9th, 2024.Source: Altoona Police DepartmentLuigi Mangione had a handwritten note that said, "These parasites had it coming," when he was nabbed in Pennsylvania by police who recognized him as the...
Biden gives remarks on his economic legacy
[The stream is slated to start at 12:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to deliver remarks about his decisionmaking on the U.S. economy during his four years in office.The Democratic incumbent...
NY AG Letitia James refuses Trump’s demand to drop fraud case
Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. Shannon...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Brazil’s Lula rushed to Sao Paulo for brain surgery, stable in ICU
President of Brazil Luiz Inácio Lula da Silva speaks during an event to commemorate the International Amazon Rainforest Day at Salão Nobre of Planalto Government Palace on September 5, 2023 in Brasilia, Brazil.Andressa Anholete | Getty Images News | Getty...
Income tax relief in Budget 2025? Nirmala Sitharaman may announce a cut for this tax slab, ET BFSI
The upcoming Budget that will be presented by Finance Minister Nirmala Sitharaman in February 2025 is likely to provide relief to the low-income group in the budget with tax reduction expected in the Rs 3 lakh - Rs 7 lakh tax slab under the new regime, reported ETNow...
RBI’s ‘impossible trinity’ dilemma is waiting for incoming governor Sanjay Malhotra, ET BFSI
The Reserve Bank of India (RBI) is set for a change at the helm as Sanjay Malhotra prepares to step in as governor, succeeding Shaktikanta Das. Malhotra’s tenure begins amidst significant challenges, including navigating economic growth, inflation control, and...
RBI, Finance Ministry coordination at its best, says Shaktikanta Das, ET BFSI
Mumbai, The Reserve Bank of India and the Finance Ministry have been on "best terms with excellent coordination and cooperation" over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.He said, "The perspectives of the...
New RBI governor Sanjay Malhotra faces tough tasks of balancing growth, inflation, and rupee stability, ET BFSI
Ending weeks of speculation, the government has announced the appointment of Sanjay Malhotra as the Reserve Bank of India Governor, who arrives at a crucial time when the central bank is battling at several fronts.Malhotra succeeds Shaktikanta Das, who steered RBI and...
Dinesh Kumar Khara, ET BFSI
"A very fine gentleman and, of course, having an eye on detail and very sharp in his grasp. So, this is how I really look at Mr Malhotra and I am quite confident that he will continue to take the RBI to the higher pedestal in terms of the contribution put in by Mr...
UnitedHealthcare CEO killing person of interest
The suspect involved in killing of Brian Thompson, the CEO of UnitedHealthcare, in Midtown Manhattan on Dec. 4, 2024.Source: NYPDThe man considered a "strong person of interest" in the fatal shooting of UnitedHealthCare CEO Brian Thompson is a private-school...
Economists react to India’s new cenbank chief announcement, ET BFSI
NEW DELHI - India appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy, as growth slows and high inflation persists. With a new governor...
Luigi Mangione charged with murder of UnitedHealthcare CEO Brian Thompson
Booking photo of Luigi Mangione.Pennsylvania Department of CorrectionsNew York prosecutors on Monday charged Ivy League grad Luigi Mangione with the murder of UnitedHealthcare CEO Brian Thompson, court records show.The charge came hours after Mangione, 26, was...
Shaktikanta Das remembers Late Arun Jaitley; extends gratitude to PM, FM, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das As the term of Shaktikanta Das as Reserve Bank of India (RBI) Governor comes to an end on Tuesday, he extends his gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. Das also...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Lithium pivotal to Europe’s massive trade deal with South America
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022.Martin Bernetti | Afp | Getty ImagesThe strategic importance of lithium is likely to...
Six major policy decisions in six years, BFSI News, ET BFSI
Whether it's the “horse requiring a tight leash” or addressing the “elephant in the room,” Shaktikanta Das has often relied on vivid metaphors to describe interest rate policies. Das, 67, the outgoing governor of the Reserve Bank of India will demit office on December...
U.S. creators could lose over $1 billion in first month, company says
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024. Graeme Sloan | Bloomberg | Getty ImagesTikTok in a court filing Monday warned that U.S. small businesses and social media creators...
Man questioned in Pennsylvania in UnitedHealthcare CEO slaying
Police in Pennsylvania are questioning a man on Monday in connection with the fatal shooting of UnitedHealthcare CEO Brian Thompson, NBC News reported.The man was found with a gun that is similar to the one used to kill the 50-year-old Thompson by a masked gunman last...
Who is Sanjay Malhotra? RBI’s new Governor replacing Shaktikanta Das, ET BFSI
Revenue Secretary Sanjay Malhotra has been appointed as the Reserve Bank of India (RBI) Governor on Monday. Currently, the 56-year-old, Malhotra is serving as the Revenue Secretary under Government of India, and is a 1990-batch IAS officer of the Rajasthan cadre. He...
Shaktikanta Das’s tenure concludes as second-longest-serving RBI Governor: A timeline, ET BFSI
Outgoing Governor of the Reserve Bank of India, Shaktikanta Das After serving for six years with an illustrious career, the Reserve Bank of India (RBI) Governor Shaktikanta Das hanged his boots. The 25th Governor of RBI is the second-longest-serving RBI governor after...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Dow dragsMajor U.S. stock indexes enjoyed another strong stretch last week – except for the Dow Jones Industrial Average. The S&P 500 and Nasdaq Composite both had their third...
Sanjay Malhotra appointed as 26th RBI Governor, ET BFSI
Revenue Secretary Sanjay Malhotra will be the next RBI Governor for a period of three years, a notification issued by the DPoT said on Monday.Sanjay Malhotra will take over from current RBI Governor Shaktikanta Das on December 11.Sanjay Malhotra is an IIT-Kanpur...
South Korea President Yoon banned from foreign travel as leadership crisis deepens
People gather outside the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Soo-hyeon Kim | ReutersSouth Korean President Yoon Suk Yeol has been banned from leaving the country over a failed...
Economists see RBI rate cut in February; muted growth due to low investments, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das in his latest MPC announcement on Friday decided to keep the repo rate unchanged at 6.5 percent for the 11th consecutive time, despite high inflation and a slowdown in economic growth. Economists shared with ETCFO...
Biden says U.S. will support Syria and its neighbors after Assad dynasty collapses
U.S. President Joe Biden delivers remarks from the Rose Garden of the White House in Washington, U.S., November 26, 2024. Nathan Howard | ReutersPresident Joe Biden cheered the toppling of Syria's dictatorship in remarks on Sunday, but he warned about the uncertainty...
Russian state news agencies say ousted Syrian leader Bashar Assad is in Moscow and given asylum
Russia's President Vladimir Putin (R) shakes hands with his Syrian counterpart Bashar al-Assad during a meeting in Sochi on November 20, 2017.Ousted Syrian President Bashar Assad fled to Moscow on Sunday, Russian media reported, hours after a stunning rebel advance...
India leads with 27 tonnes in October, ET BFSI
The October gold purchase by the Central banks across the globe doubled that of the 12-month average with the Reserve Bank of India (RBI) leading both y-t-d purchases and those reported during the month, according to a report released by the World Gold Council.India...
Trump is stacking his White House roster with uber-rich backers
U.S. President-elect Donald Trump greets Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersDonald Trump's first administration was chock...
U.S. unveils $988 million aid package for Ukraine including rockets and drones
U.S. Defense Secretary Lloyd Austin testifies before a U.S. House Appropriations Defense Subcommittee hearing on President Biden's proposed budget request for the Department of Defense, on Capitol Hill in Washington, March 23, 2023.Michael A. McCoy | ReutersThe United...
South Korea martial law fallout deepens as prosecutors close in on president, ex-defense minister
People march in heavy rain to protest against South Korean president Yoon Suk Yeol, as strike and protests continue amid the martial law crisis, in Seoul, South Korea, on December 05, 2024. Daniel Ceng | Anadolu | Getty ImagesSouth Korea's leadership crisis deepened...
Assad regime on brink of collapse in Syria as rebel forces claim Damascus
TOPSHOT - Fighters fire towards Syrian Army troops in the Rashidin district on the outskirts of Aleppo on Nov. 29, 2024.Bakr Alkasem | Afp | Getty ImagesThe more than 50-year Assad dynastic dictatorship was on the cusp of collapse on Sunday, as rebel forces seized the...
Trump is welcomed by Macron to Paris with presidential pomp and joined by Zelenskyy in their meeting
French President welcomed Donald Trump to Paris on Saturday with a full a dose of presidential pomp and they held an impromptu meeting with Ukraine's Volodymyr Zelenskyy on a day that mixed pageantry with attention to pressing global problems.Trump, the once and...
South Korea’s President Yoon survives impeachment motion after ruling party boycotts vote
SEOUL, SOUTH KOREA - NOVEMBER 07: South Korean President Yoon Suk-yeol attends a press conference on state affairs at the presidential office on Nov. 7, 2024.Pool | Getty Images News | Getty ImagesBeleaguered South Korean President Yoon Suk Yeol on Saturday survived...
RBI cash reserve ratio cut expected to support banks’ NIMs: Report, ET BFSI
NEW DELHI: The RBI's reduction in Cash Reserve Ratio (CRR) is expected to offer modest support to banks' Net Interest Margins (NIMs), according to a report by Axis Securities. The assessment mentioned that the decision will enhance liquidity while supporting broader...
Trump returns to world stage at Notre-Dame reopening in Paris
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
SBI forecasts India’s GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25, ET BFSI
SBI forecasts India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25New Delhi [India], December 7 (ANI): SBI forecasted India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25 in its latest report.The average growth of the...
Inflation likely to ease to 5.4 per cent in November on decline in vegetable prices: Union Bank, ET BFSI
New Delhi [India], December 7 (ANI): India's Consumer Price Index (CPI) inflation is expected to ease to 5.4 per cent in November 2024, down from 6.2 per cent in October, according to a report by Union Bank of India.The decline is primarily attributed to a seasonal...
Syrian rebels seize fourth city, close in on Homs in threat to Assad’s rule
HOMS, SYRIA - DECEMBER 06: Anti-regime armed groups advancing in Syria's strategically important province of Homs, the gateway to the capital Damascus, on Dec. 06, 2024. Anadolu | Anadolu | Getty ImagesSyrian rebels said they seized control of the southern city of...
Police believe suspect left New York
Closed circuit screenshots of a person of interest in the UnitedHealthcare CEO killing.Source: NYPDPolice believe the person of interest being sought in connection to the killing of UnitedHealthcare CEO Brian Thompson left New York City shortly after the slaying...
RBI’s CRR cut may provide 3-4 bps relief to banks on margins front ; liquidity challenges remain, ET BFSI
The reduction in the Cash Reserve Ratio (CRR) by 50 basis points may not impact rates but provide relief on banks on squeezed margins.The Reserve Bank of India (RBI) announced a reduction in the Cash Reserve Ratio (CRR) by 50 basis points in two tranches of 25 bps...
UnitedHealthcare CEO killing leads health insurers to pull photos
Igor Golovnov | Sopa Images | Lightrocket | Getty ImagesThe killing of UnitedHealthcare CEO Brian Thompson led Centene, another big health insurer, to switch to a virtual investor day instead of a planned in-person event in New York.Thompson's slaying also has...
Trump may cancel U.S. Postal Service electric mail truck contract: Reuters
The United States Postal Service unveils two of its battery-powered vehicles at an event announcing its plan on implementing electric vehicles, at the Postal Service Headquarters on December 20, 2022 in Washington, DC. Kevin Dietsch | Getty ImagesDonald Trump's...
Court upholds law ordering ByteDance to divest app
A federal appeals court on Friday cited national security concerns as it upheld a law requiring China-based ByteDance to sell the popular social media app TikTok next month or face an effective ban in the United States.The unanimous ruling by a three-judge panel of...
DOGE’s Musk, Ramaswamy try to sell Congress on huge spending cuts
WASHINGTON, D.C. — Entrepreneurs Elon Musk and Vivek Ramaswamy's have an ambitious agenda to cut federal spending with the help of their outside advisory council, the Department of Government Efficiency (DOGE).But on their first joint visit to Congress on Thursday,...
RBI reduces Cash Reserve Ratio to 4%, Repo rate unchanged at 6.5%, ET BFSI
RBI Reduce CRR: Reserve Bank of India (RBI) Governor Shaktikanta Das announced the decisions of the last Monetary Policy Committee (MPC) for 2024 on Friday. The MPC members with a majority of 4:2 decided to keep the repo rate unchanged and keep the ‘Neutral’ stance....
India cenbank holds rates steady, market awaits liquidity steps, ET BFSI
MUMBAI, - The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday, citing still-high inflation and disappointing some investors who had bet on a cut after a sharp slowdown in economic growth in the July-September quarter.The Monetary Policy...
RBI’s MPC announces launch of podcasts as new communication channel, ET BFSI
The Reserve Bank of India's Monetary Policy Committee on Friday announced that it will be adding another medium of communication of through podcasts. The announcement was made by Governor Shaktikanta Das on Friday in what is his last speech of this term.The decision...
RBI sees inflation moderating to 4% by Q2 of next fiscal, ET BFSI
The Reserve Bank of India has projected inflation within its tolerance band of 4-6 per cent for this fiscal and the next second half on easing of food prices but has warned of geopolitical uncertainties and financial market volatilities as upside risks."CPI inflation...
Romanian top court annuls presidential election result
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesRomania's top court annulled the result of the first round of the country's presidential election...
RBI sharply cuts FY25 GDP growth projections to 6.6% after Q2 shocker, ET BFSI
The RBI has lowered its real GDP growth projection for 2024-25 to 6.6% from the earlier estimate of 7.2%. This sharp revision follows a subdued second-quarter GDP growth of 5.4%, compared to the RBI’s earlier estimate of 7%."Real GDP growth for 2024-25 is projected at...
RBI Governor Das on demand weakness, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday allayed concerns on muted consumer demand saying private consumption is expected to improve with good crop prospects.“Looking ahead, robust kharif foodgrain production and good rabi prospects, coupled with...
RBI asks banks to collaborate with MuleHunter.AI intiative, ET BFSI
Mumbai, The RBI on Friday asked banks to collaborate with its initiative MuleHunter.AI to weed out mule accounts which are used to commit financial fraud. A mule account is a bank account used by criminals to launder illicit funds, often set up by unsuspecting...
New interest rate benchmark SORR to replace Mibor, BFSI News, ET BFSI
The Reserve Bank of India has decided to float a new interest rate benchmark -- the Secured Overnight Rupee Rate (SORR) -- in line with the increasing importance of the collateralised money markets.The move is expected to improve the credibility of the interest rate...
De-dollarisation not on agenda, only agreements for Vostro accounts with countries for trade in local currency: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], December 6 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that India has not taken any specific steps to move away from dollars, in what is often called de-dollarisation. Responding to questions during the...
Liquidity & Macroeconomic pressures keeps RBI cautious: Economists, ET BFSI
~Samriddhi Singh MaharWith the announcement by RBI Governor Shaktkanta Das, that the repo rate will remain unchanged for the 11th consecutive time, economists see the decision to maintain the policy rate at 6.5% while implementing a 50-bps CRR cut as RBI prioritising...
RBI raises FY25 inflation estimate to 4.8 pc; food price pressures to keep CPI elevated in Q3, ET BFSI
Mumbai, The Reserve Bank on Friday raised the inflation projection for current fiscal year to 4.8 per cent from 4.5 per cent with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter....
McKinsey unit settles claims it bribed South African officials
This photograph shows a logo of American multinational corporation McKinsey & Company on the first day of the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. Pau Barrena | Afp | Getty ImagesA...
RBI says financial parameters for banks and NBFCs continue to be strong, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das said Friday the financial parameters for banks and non-banking financial companies (NBFCs) continue to be strong amid narrowing credit deposit gaps and proactive regulatory oversight."The incoming data suggests...
Top 10 announcements from MPC Meet Dec 2024, ET BFSI
The Reserve Bank of India (RBI) on Friday, in a 4-2 majority vote, decided to keep the repo rate unchanged at 6.5 per cent, marking the 11th consecutive pause in its rate-setting cycle. RBI Governor Shaktikanta Das stated that the policy stance remains neutral,...
IRS crackdown on wealthy Americans faces roadblocks
WASHINGTON — Tens of thousands of wealthy Americans are not complying with recently revamped Internal Revenue Service efforts to get them to file tax returns, according to data obtained exclusively by CNBC.A quirk in federal tax law may be incentivizing wealthy people...
Is RBI boss getting extension for another term? Governor Shaktikanta Das says…, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das remained tight-lipped on whether his term as the head of the central bank would be extended, during the Monetary Policy Committee (MPC) press conference on Friday. "I am not giving you any headlines," Das said when...
CEOs seek protection after UnitedHealthcare executive shooting: Kroll
Chief executives and other high-level corporate officers are seeking additional security protection after the brazen slaying of UnitedHealthcare's chief executive officer in New York, according to a top risk management firm."We had CEOs and other executive level and...
Inflation prompts India cenbank to raise agri loan limit, ET BFSI
MUMBAI, - India's central bank said on Friday it will raise the limit for collateral-free agriculture loans to 200,000 rupees ($2,364.15) in a bid to enhance access to formal credit for small and marginal farmers in the country.Banks were required to extend...
RBI move to make foreign currency deposits more attractive for non-residents, ET BFSI
Mumbai: Reserve Bank of India (RBI) has announced an increase in the interest rate ceilings on Foreign Currency Non-Resident Bank [FCNR(B)] deposits in an effort to attract more foreign investment. This move comes at a time when the Indian rupee has been under...
Trump picks former Senator David Perdue to be ambassador to China
Former Republican U.S. Senator David Perdue, who is primarying incumbent Brian Kemp for Georgia governor, speaks at a campaign event in Covington, Georgia, February 2, 2022.Elijah Nouvelage | ReutersU.S. President-elect Donald Trump said on Thursday he has chosen...
UnitedHealthcare shooting shell casing clues
Book title: "Delay Deny Defend: Why Insurance Companies Don't Pay Claims and What You Can Do About It" by Jay M. FeinmanSource: Amazon Inc.Shell casings from the brazen slaying of UnitedHealthcare CEO Brian Thompson in midtown Manhattan had the words "deny," "defend"...
NYPD photos show face of person sought
Closed caption screenshots of of person wanted for questioning in the United Healthcare CEO killing.Source: NYPDNew York police on Thursday released photos of a person wanted for questioning in the fatal shooting of UnitedHealthcare CEO Brian Thompson.The two photos...
RBI may go for CRR cut instead of repo rate reduction in monetary policy: Expert, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): With the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting underway, experts have suggested that the central bank might go for a reduction in Cash Reserve Ratio (CRR) for banks instead of cutting the...
Rupee little changed as cenbank rate decision, growth commentary looms, ET BFSI
The Indian rupee ended little changed following a rangebound trading session on Thursday, with market players speculating whether the country's central bank will initiate an interest rate easing cycle on Friday to stimulate economic growth.The rupee, ended at 84.7325...
Trump picks Adam Boehler to be presidential envoy for hostage affairs
Adam Boehler, the CEO of the U.S. International Development Finance Corporation, addresses the daily coronavirus task force briefing in the Rose Garden at the White House in Washington, U.S., April 14, 2020. Leah Millis | ReutersPresident-elect Donald Trump announced...
Das & Co likely to hold rates and lower GDP growth outlook, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am.The three-day meeting, which began on December 4, is being closely watched. For the first time in more than 30 months, MPC...
Piyush Goyal asks MSMEs to share issues related to accessing bank credit, ET BFSI
Union Minister of Commerce and Industry Piyush Goyal Addressing the financing challenges faced by the micro, small, and medium enterprises (MSME), Union Minister for Commerce and Industry, Piyush Goyal said the government is open to the idea of alternate financing...
RBI, BFSI News, ET BFSI
Mumbai: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
RBI, BFSI News, ET BFSI
Mumbai: Climate risks have started to impact the financial system and could pose systemic problems in future, according to RBI. Besides damage to assets, risks include business disruption, increase in loan losses, and transition risks arising from the shift to a...
Indian markets make substantial gains from day’s low in anticipation of rate cut by RBI: Experts, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The Indian stock indices revived during the day on Thursday after a slow start at the opening, as investors anticipate a rate cut in the ongoing MPC meeting says market experts.The Nifty 50 index surged 165 points or...
RBI may explore other liquidity tools like open market operations (OMOs) and foreign exchange (FX) swaps instead of rate cut: Report, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may keep the current policy rates unchanged in the ongoing Monetary Policy Committee (MPC) meeting, according to a report by the Union Bank of India. As per the report, RBI is unlikely to announce a cash reserve ratio (CRR)...
Notable decline in forex reserve because RBI using forex to manage currency volatility: UBI Report, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The recent decline in India's forex reserve from USD 705 billion to USD 656.58 billion is because the central bank is using forex reserve to manage currency volatility says a report by Union Bank of India.The report says...
Trump asks Georgia court to end election interference case
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump asked the Georgia Court of Appeals on...
When and where to watch Guv Shaktikanta Das’ live address, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am. The three-day meeting, which began on December 4, is being closely watched as the central bank navigates through...
Some ATMs to retract cash, BFSI News, ET BFSI
MUMBAI: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
South Korea’s Yoon names new defense minister after botched martial law
Defense Minister Kim Yong-hyun resigns.Anadolu | Anadolu | Getty ImagesSouth Korean President Yoon Suk Yeol has accepted the resignation of Defense Minister Kim Yong-hyun and nominated his ambassador to Saudi Arabia, Choi Byung-hyuk, as new defense minister, Yonhap...
French government toppled in no-confidence vote brought by opposition
France's Prime Minister Michel Barnier (C) looks on during a session of questions to the government at The National Assembly in Paris, on December 3, 2024. Julien De Rosa | Afp | Getty ImagesThe French government has been toppled in a vote of no confidence Wednesday,...
Trump picks Peter Navarro as top trade advisor
Peter Navarro, former Director of the U.S. Office of Trade & Manufacturing, gestures as he speaks on Day 3 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 17, 2024. Mike Segar | ReutersPresident-elect Donald...
RBI’s top moves in balancing innovation and regulation, ET BFSI
The Reserve Bank of India (RBI) marked its 90th year on April 1, 2024, also its another year of heightened regulatory activity. From tightening actions on Paytm and Kotak Mahindra Bank to introducing the SRO framework in May, announcing Unified Lending Interface (ULI)...
Will RBI blink on rates after govt’s rate-cut call and GDP miss?, ET BFSI
The tenure of Shaktikanta Das as the governor of the Reserve Bank of India (RBI) is nearing its end next week, with speculation rising over whether he will receive an extension. His future has become a point of focus, particularly following India's underwhelming GDP...
MoS Finance, BFSI News, ET BFSI
New Delhi, The government is not considering merger of public sector banks, Minister of State for Finance Pankaj Chaudhary said on Tuesday. In a written reply to a question in the Rajya Sabha, he said several steps have been taken by the government to strengthen the...
Banks should adopt ‘bottom-up’ approach for preparing credit plan: RBI’s Swaminathan, ET BFSI
Mumbai, Banks should adopt a "bottom-up" approach for preparing credit plans to fulfil fund requirements for different segments in districts, RBI Deputy Governor Swaminathan J has said. Addressing a conference for lead district managers of Maharashtra last week, the...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
RBI Governor, Shaktikanta DasOne of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over...
Central bank behind the curve?, BFSI News, ET BFSI
Dec 3 - By Ira Dugal, Editor Financial News, with global staff.Greetings from Mumbai!This week on the India File, we focus on the unexpectedly weak economic growth reported for the July-September quarter. Does part of the blame lie at the central bank's door?The...
Mike Bloomberg warns RFK Jr. atop HHS risks killing Americans
Former New York City mayor Michael Bloomberg, a democratic presidential candidate, attends the U.S Conference of Mayors 88th Winter Meeting in Washington, D.C, January 22, 2020.Yasin Ozturk | Anadolu Agency | Getty ImagesBillionaire and public health advocate Mike...
Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy, ET BFSI
Mumbai, Reserve Bank's high level panel on Wednesday started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation is above the upper tolerance level of the central bank. The decision taken at the RBI...
Trump agrees to DOJ background checks for nominees
President-elect Donald Trump's transition team said Tuesday that it reached an agreement with the Department of Justice that sets the stage for the department to conduct background checks and start the security clearance process for Trump administration nominees and...
All eyes on central bank’s action on rising inflation, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting to determine the policy rate in the country commenced today in Mumbai.Chaired by RBI Governor Shaktikanta Das, the three-day meeting will run from December 4 to December 6, with the Governor...
SBI writes to RBI to consider non-financial transactions as well for tagging an account as operative, ET BFSI
Faced with the challenge of ensuring an account remains operative, the State Bank of India (SBI) has written to the Reserve Bank, requesting change in rules, and consider non-financial transactions like balance checking as well for tagging an account as operative. C S...
Contentious budget plans are wreaking political havoc across Europe
France's Prime Minister Michel Barnier ponders during a session of questions to the government at the National Assembly in Paris, on December 3, 2024.Julien De Rosa | Afp | Getty ImagesThe French government once again stands on the brink of collapse, after Prime...
On the horns of a dilemma, BFSI News, ET BFSI
In the last few years, RBI has largely been following a data-driven and evidence-based approach in its pursuit of a contextually relevant Policy, a Policy stemming from the concerns at the time of formulation and an attempt to arrive at judicious Policy prescriptions....
$200 million Ponzi scheme nets Florida woman 20-year prison sentence
Screenshot of Johanna Michely Garcia of MJ Capital Funding, who was sentenced on Dec. 3, 2024, to 20 years in prison in a Ponzi scheme.Source: MJ CapitalA Florida woman who pleaded guilty in a Ponzi scheme that raked in nearly $200 million was sentenced Tuesday to 20...
Indian central bank likely conducting dollar-rupee buy/sell swaps, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely conducting dollar-rupee buy/sell swaps in the mid-to-far tenors on Wednesday as part of its steps to support the local currency, which had declined to its lifetime low in the previous session, four traders told Reuters.The...
South Korean parliament votes to lift president’s martial law declaration
Members of the military make their way through the crowd in front of the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Kim Hong-ji | ReutersThe South Korean National Assembly voted to...
Shots fired near Treasury Secretary Janet Yellen home
Treasury Secretary Janet Yellen delivers remarks on the Inflation Reduction Act after visiting the site of a new paperless processing initiative in McLean, Virginia, on August 2, 2023. Stefani Reynolds | Afp | Getty ImagesMultiple shots were fired early Tuesday...
South Korean president declares emergency martial law
South Korea's President Yoon Suk Yeol speaks during a ceremony held to mark the 74th anniversary of the start of the 1950-1953 Korean War, in Daegu on June 25, 2024.Ahn Young-joon | Afp | Getty ImagesSouth Korean President Yoon Suk Yeol declared an "emergency martial...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. New highsA specialist trader works at his post on the floor at the New York Stock Exchange (NYSE) in New York City.Brendan McDermid | ReutersThe first trading day of December...
Rupee may fall to 85 against dollar leading to RBI intervention: Naveen Mathur, ET BFSI
Naveen Mathur, Director - Commodities, Currencies and International Business, Anand Rathi Wealth, says the overall perception is that the rupee might continue to 85 levels or so where the RBI might start intervention. They might be intervening because we have seen...
What’s the BRICS’ financial architecture plan that Donald Trump is wary about, ET BFSI
US President-elect Donald Trump has warned of imposing 100% tariffs on a group of nine nations if they pursue the creation of a currency to rival the US dollar sparking a new debate.As the global economic order evolves, the BRICS bloc—comprising Brazil, Russia, India,...
France to hold no-confidence vote in government on Wednesday
French Prime Minister Michel Barnier (C) ahead of his general policy statement to the French National Assembly in Paris on October 1, 2024. Barnier, a right-wing former EU Brexit negotiator, was appointed three weeks ago by French President to bring some stability...
Rupee forward premiums plunge on Indian cenbank’s buy/sell swaps, traders say, ET BFSI
By Nimesh VoraMUMBAI, - The dollar/rupee forward premiums dropped on Tuesday, extending their losses, as the Indian central bank conducted buy/sell swaps alongside spot interventions to prevent the local currency from sliding more than it already has, four traders...
RBI advises banks to organize special campaigns like Aadhaar updation for facilitating activation of frozen accounts, ET BFSI
Mumbai (Maharashtra) [India], December 3 (ANI): The Reserve Bank of India (RBI) has directed banks to take immediate steps to reduce the number of inoperative or frozen accounts and to make the activation process smoother and more hassle-free. To achieve this, the RBI...
RBI cancels registration of Nagpur-based Zavron Finance, ET BFSI
The RBI on Monday said it has cancelled the certificate of registration of Nagpur-based Zavron Finance due to irregular lending practices. Zavron Finance has violated RBI guidelines on code of conduct in outsourcing of financial services in its digital lending...
Trump Defense pick Pete Hegseth report details alcohol abuse
President-elect Donald Trump's nominee to be Secretary of Defense Pete Hegseth leaves the Russell Senate Office Building on November 21, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesPete Hegseth, the already embattled choice of President-elect Donald Trump to...
No extension for Shaktikanta Das? Speculation over RBI chief’s future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
California Gov. Newsom starts special session, ‘safeguard’ from Trump
Governor Newsom speaks as he signed into law the most significant bipartisan legislation to crack down on property crime at a Home Depot store in San Jose, California, United States on August 16, 2024. Tayfun Coskun | Anadolu | Getty ImagesGov. Gavin Newsom's special...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
Ireland election sees pro-business continuity despite voter discontent
Ballot papers are counted at the Dublin RDS centre, in Dublin, on December 1, 2024, on the second day of counting ballots in the Irish General Election. Ben Stansall | Afp | Getty ImagesIreland's election looks set to have secured victory for the incumbent...
WDRA to approach RBI again for getting preferential treatment eNWRs: Par report, ET BFSI
New Delhi, Warehousing regulator WDRA will pursue with the RBI again for getting preferential treatment to Electronic Negotiable Warehouse Receipt (eNWR), according to a Parliamentary report tabled on Monday. eNWR is a digital warehousing receipt issued by registered...
RBI lifts its supervisory restrictions on Sachin Bansal-led Navi Finserv Limited, ET BFSI
Reserve Bank of India on Monday announced decision to remove its supervisory restrictions on Navi Finserv Limited following several rounds of interaction with the company for rectification of deficiencies."RBI had several rounds of interaction with the company for...
Exchanges warn Religare for not disclosing RBI rejection on Asthana’s appointment, ET BFSI
Mumbai: India’s two major stock exchanges issued warning letters to Religare Enterprises (REL) concerning delayed disclosures regarding the central bank’s rejection of Rakesh Asthana’s appointment as an Additional Director on the company’s board. The Bombay Stock...
Indian cenbank’s ballooning NDF position suggests more rupee losses, bankers say, ET BFSI
By Nimesh VoraMUMBAI, - The surge in the Indian central bank's position in the non-deliverable forward market (NDF) reflects the extent of pressure on the rupee and suggests that the currency, already at a lifetime low, will fall further, bankers said on Monday.The...
RBI unlikely to cut rates in December, may lower CRR by 50 bps in two instalments & talk dovish: B Prasanna, ET BFSI
B Prasanna, Group Head - Global Markets, Trading and Research, ICICI Bank, says GDP was a shocker, but he thinks it has bottomed out and is going to improve in the second half. But even after the improvement, ICICI Bank is penciling in a second half GDP of around 6.5%...
No rate cut in current fiscal, first one likely in April’25, says SBI Report, ET BFSI
As the Reserve Bank of India (RBI) is set to begin the last Monetay Policy Committee (MPC) meeting of 2024 on December 4, the expectations on the rate cut have started coming in. State Bank of India (SBI) in its report said it does not foresee rate cut during the...
Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine U.S. dollar
Officials, including Chinese President Xi Jinping, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, attend the BRICS summit in Kazan, Russia October 23, 2024. Alexei Danichev | ReutersPresident-elect Donald Trump on Saturday threatened 100%...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Trump names Massad Boulos, campaign liaison and family relative, as a senior adviser on Middle East
Massad Boulos in Dearborn, Michigan, Friday, Nov. 1, 2024.AP Photo | Julia Demaree NikhinsonPresident-elect Donald Trump on Sunday named Massad Boulos, a Lebanese American businessman who is the father-in-law of Trump's daughter Tiffany, as a senior adviser on Arab...
FM Nirmala Sitharaman to move Banking Laws (Amendment) Bill in Lok Sabha tomorrow, ET BFSI
Union Finance Minister Nirmala Sitharaman is expected to move the Banking Laws (Amendment) Bill, 2024 in the lower house of Parliament on Monday.As per the schedule issued by the secretariat, Sitharaman is expected to move the Bill further to amend the Reserve Bank of...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Finance ministry invites applications for PFRDA chairperson post, ET BFSI
The government has begun searching for a successor to Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty whose term is ending in May next year. The PFRDA chairman holds office for five years or till the age of 65 years. The chairman is...
Trump picks real estate mogul Charles Kushner for ambassador to France
Charles Kushner and Jared Kushner attend an event at Lord & Taylor on March 28, 2012 in New York City.Patrick McMullan | Patrick McMullan | Getty ImagesU.S. President-elect Donald Trump said on Saturday that he had picked his son-in-law Jared Kushner's father,...
Canada Prime Minister Trudeau visits Florida to meet with Trump amid tariff threat
Canada's Prime Minister Justin Trudeau takes part in a press conference about the Royal Mounted Police's investigation into "violent criminal activity in Canada with connections to India", on Parliament Hill in Ottawa, Ontario, Canada October 14, 2024. Blair Gable |...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive said.The...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
New Delhi: The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive...
RBI to keep repo rate unchanged at meeting next week, chances of rate cut in Feb increased: Report, ET BFSI
The Reserve Bank of India (RBI) is expected to maintain its policy rate during its upcoming meeting next week, as GDP growth slowed significantly in the second quarter of FY25. However, the likelihood of a rate cut in February has increased, according to a report by...
5 things to know before the stock market opens Friday
Here are the most important news items that investors need to start their trading day:1. Market leftoversU.S. stocks will have a shortened trading day Friday after the market was closed Thursday for Thanksgiving. Equities fell entering the holiday, as some investors...
India cenbank devolves 70% of new green bonds, cutoff below 10-year note, ET BFSI
By Dharamraj DhutiaMUMBAI - The Indian central bank devolved 70% of a new 10-year green bond at an auction on Friday on the primary dealers who underwrote the issue, as market participants likely demanded yields higher than the Reserve Bank of India's comfort, traders...
UK transport minister quits in new blow to PM Starmer
Louise Haigh, U.K. transport secretary, arrives for a pre-budget cabinet meeting in London on Wednesday, Oct. 30, 2024.Bloomberg | Bloomberg | Getty ImagesBritain's transport minister Louise Haigh has resigned after pleading guilty years ago to an offence in...
Lebanon had ‘no say in the decision to go to war,’ foreign minister says
Lebanon's foreign minister on Thursday defended Hezbollah's presence in the region, but said his country had "no say in the decision to go to war" with Israel. Speaking to CNBC's Dan Murphy, Abdallah Bou Habib vowed to uphold a U.S.-France brokered cease-fire that is...
Mexico warns Trump tariffs would kill 400,000 U.S. jobs, threatens retaliation
Mexican President Claudia Sheinbaum speaks after reading a letter to be sent to U.S. President-elect Donald Trump, warning that tariffs would cause inflation and job losses in both countries, at National Palace in Mexico City, Mexico, November 26, 2024. Presidencia De...
Dy Guv Swaminathan, ET BFSI
Mumbai, RBI is working towards creating a robust data analytics ecosystem to support its supervisory functions, ensuring that the approach remains forward-looking and agile in a rapidly changing world, central bank's Deputy Governor Swaminathan J has said. Addressing...
Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersElon Musk and Vivek Ramaswamy will visit Capitol Hill to discuss government reform...
Indian central bank likely selling dollars to support rupee near key level, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to help the rupee hold above a key psychological support level for the currency at 84.50, three traders told Reuters.The rupee was marginally weaker at 84.4625 as of 9:20 a.m. IST, compared to its close...
RBI should allow innovation without causing negative disruption; induct more people with tech background: D Subbarao, ET BFSI
Former Reserve Bank of India governor D Subbarao said today that the central bank and other regulators need to include more people with a technology background as technology is coming in a big way in finance."The main purpose of RBI regulation is to maintain financial...
Ireland has much to mull over as voters head to the polls
Polling station in Ireland. Kinga Krzeminska | Moment | Getty ImagesIreland goes to the polls on Nov. 29, with center-right parties Fianna Fáil and Fine Gael once again expected to form the nucleus of the country's next government.The historical rivals have shared...
Donald Trump Jr. joins drone maker Unusual Machines advisory board
Donald Trump Jr. leaves a fundraiser for Donald Trump hosted by former "Neighbours" star Holly Valance, in London, June 12, 2024.James Manning | PA Images | Getty ImagesThe share price of small U.S. drone and drone component maker Unusual Machines soared more than 90%...
RBI DG Rao highlights quadrant of expectations for REs and global risks, ET BFSI
Reserve Bank of India's (RBI)Deputy Governor M Rajeshwar Rao provided insights into the challenges and expectations of regulated entities (REs) in an evolving financial landscape. Speaking on the theme “Building Synergies,” Rao discussed the importance of aligning...
RBI Dy Guv Rao, ET BFSI
Mumbai, India needs to take a quantum leap in the scale and size of the financial institutions to achieve the aspiration of becoming a developed nation by 2047, RBI Deputy Governor M Rajeshwar Rao has said. He was speaking 'High-Level Policy Conference of Central...
Gujarat unveils new cottage and rural industries policy; eyes 12 lakh jobs in 5 years, ET BFSI
Gandhinagar, The Gujarat government announced on Wednesday its new cottage and rural industries policy, offering higher loans and subsidies to artisans and entrepreneurs to set up units in the state. Minister of Cottage Industries Balwantsinh Rajput, who unveiled the...
Parliament likely to pass Banking Laws Amendment Bill, ET BFSI
Union Finance Minister Nirmala Sitharaman As the Winter Session of Parliament begins on Monday, the Finance Minister Nirmala Sitharaman is set to move the Banking Laws Amendment Bill for passage. The Bill was introduced in the previous Monsoon Session seeking enhanced...
Israel-Hezbollah permanent ceasefire has been accepted, Biden says
A permanent ceasefire between Israel and Lebanon's Hezbollah is scheduled to begin Wednesday, following a yearlong conflict between the Jewish state and Iranian-backed groups.President Joe Biden announced the deal, which was brokered by France and the U.S."Under the...
RBI injects ₹6,956 crore as liquidity turns to deficit, BFSI News, ET BFSI
Mumbai: After running surplus liquidity of about ₹1.4 lakh crore for over two months, the banking system saw a decline in cash, prompting the Reserve Bank of India to inject ₹6,956 crore on Monday.The liquidity deficit was because of the balance of payments turning...
Trump selects Jamieson Greer as U.S. trade representative
U.S. President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, D.C., on Nov. 13, 2024.Allison Robbert | Via ReutersU.S. President-elect Donald Trump tapped attorney Jamieson Greer on Tuesday to serve as the...
Govt to soon provide long-term finance via PACS to further empower farmers: Amit Shah, ET BFSI
New Delhi, Cooperation Minister Amit Shah on Tuesday said the government will soon provide long-term finance through Primary Agricultural Credit Societies (PACS) to further empower the farming community. Speaking at the National Federation of State Co-operative Banks...
Development & decarbonization, ET BFSI
India has consistently championed the principle of “common but differentiated responsibilities” (CBDR), underscoring the need for equitable action that takes historical emissions into account.Recently, at COP29, the annual United Nations Climate Change Conference,...
Trump chooses U.S. Covid policy critic Bhattacharya to lead NIH
Dr. Jay Bhattacharya speaks during a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesPresident-elect Donald Trump on...
Biden proposes Medicare and Medicaid cover weight-loss drugs
Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersMillions of Americans with obesity would be eligible to have popular weight-loss drugs like Wegovy or Ozempic covered by Medicare or...
RBI Dy Governor offers 4 suggestions to MSMEs on credit challenges, ET BFSI
What factors contribute to MSMEs’ credit challenge?: RBI DG shares 4 key suggestions The Deputy Governor of Reserve Bank of India (RBI), Swaminathan J, on Monday highlighted that despite the critical role of the MSME sector in the Indian economy, a common grouse is...
Rate cuts likely to optimise home affordability in next 12 months, Kolkata most affordable: Report, ET BFSI
India's housing market is expected to see a significant shift in affordability by 2025, driven by a projected cumulative 50-basis-point cut in interest rates over the next few months, which is anticipated to make home ownership more accessible for buyers, showed a JLL...
Mahila Samman scheme draws 4.33 million depositors, Maharashtra at the top of the list, ET BFSI
The government’s latest small savings scheme for women, launched on April 1 last year, has drawn 4.33 million depositors across the country, minister of state for finance Pankaj Chaudhary told the Lok Sabha on Monday.Maharashtra led the pack of states with 7,46,223...
Republicans gear up for the coming battle over $5 trillion tax cut’s costs
As Republicans on Capitol Hill lay the groundwork for extending the 2017 tax cuts, cracks are already emerging on one of the biggest questions: how to handle the cost.Extending the tax provisions is estimated to increase the deficit by $5 trillion, according to the...
RBI’s inflation ‘horse’ is at war but FinMin is not worried, BFSI News, ET BFSI
While Reserve Bank of India remains worried, Finance Ministry in its monthly economic review has expressed optimism that moderation in prices of key food items is expected soon with bumper kharif (summer crop) harvest to lower food inflation in the coming months"Early...
RBI governor Shaktikanta Das hospitalised in Chennai, BFSI News, ET BFSI
NEW DELHI: Reserve Bank of India governor Shaktikanta Das has been admitted to a corporate hospital in Chennai, a source told news agency PTI on Tuesday.He was being monitored, the source said without divulging details. There was no immediate official information from...
Banana auction billionaire invests in Trump’s crypto venture
Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, China, on Friday, May 8, 2020.Calvin Sit | Bloomberg | Getty ImagesTron blockchain founder Justin Sun has invested $30 million into Donald Trump's crypto project, World Liberty...
EU challenges Chinese brandy tariffs at WTO
HAIKOU, CHINA - DECEMBER 17: People purchase brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products at Hainan International Convention And Exhibition Center on December 17, 2023 in Haikou, Hainan Province of...
5 things to know before the stock market opens Monday November 25
Here are the most important news items that investors need to start their trading day:1. Turkey tradeU.S. stocks enter a shortened trading week on a winning run. The Dow Jones Industrial Average climbed about 2% last week and notched a record close Friday. The S&P...
PM Modi, BFSI News, ET BFSI
Prime Minister Narendra Modi on Monday emphasised the need to link cooperative movement to circular economy and promote international collaboration in the sector. Addressing the ICA Global Cooperative Conference 2024 at the Bharat Mandapam here, Modi said that for...
Macy’s posts preliminary results, delays full earnings release
A shopper carries a Macy's bag on Market Street in San Francisco, California, US, on Wednesday, Nov. 13, 2024. David Paul Morris | Bloomberg | Getty ImagesMacy's on Monday posted preliminary third-quarter results and said it would delay its full earnings release as it...
Surprise far-right candidate leads in Romania’s presidential vote: Partial results
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesFar-right, pro-Russia independent candidate Calin Georgescu won 22.94% of the vote in Romania's...
How RBI’s gold buying is helping shore up India’s foreign exchange reserves, ET BFSI
The RBI's strategic gold buying has bolstered India’s foreign exchange reserves, offsetting the significant outflow of foreign portfolio investments that resulted in a $47 billion reduction in reserves over a five-week period.Since December 2017, the RBI has been...
Dems back Rubio for State, but criticize Trump-picks Hegseth, Gabbard
A handful of Democrats are sounding their approval of Republican Florida Sen. Marco Rubio as Secretary of State but others continue to doubt some cabinet picks made by President-elect Donald Trump."I think Marco Rubio is enormously well-qualified for the job for which...
Nirmala Sitharaman to move bills to amend banking laws, ET BFSI
New Delhi [India], November 24 (ANI): The Banking Laws (Amendment) Bill which aims to amend the Reserve Bank of India Act, 1934, in addition with the Banking Regulation Act, the State Bank of India Act, among other bills will be moved by Union Finance Minister Nirmala...
Trump picks Brooke Rollins to be agriculture secretary
Brooke Rollins, president and CEO of America First Policy Institute (AFPI), speaks during a discussion hosted by AFPI and The Abraham Accords Peace Institute, in Washington D.C., on Monday, September 12, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesU.S....
Trump expected to pick Brooke Rollins to be Agriculture secretary, WSJ reports
A sign of United States Department of Agriculture is seen on USDA building in Washington D.C., United States on June 21, 2023. The United States Department of Agriculture has approved selling cell-cultured chicken. (Photo by Celal Gunes/Anadolu Agency via Getty...
Policy guidance is more effective when rates are low, BFSI News, ET BFSI
MUMBAI: Interest rate guidance is more effective when policy rates are low as compared to when they are on their way down, according to RBI deputy governor Michael Patra."Under heightened uncertainty, discretion in forward guidance has increasingly gained legitimacy...
Optimal communication is gold standard for all central bankers says RBI deputy Governor, ET BFSI
Optimal communication is gold standard for all central bankers says RBI deputy GovernorMumbai (Maharashtra) [India], November 22 (ANI): Optimal communication is the gold standard for all central bankers, said Reserve Bank of India's Deputy Governor, Michael Debabrata...
Trump picks congresswoman Lori Chavez-Deremer to be labor secretary
Rep. Lori Chavez-DeRemer, R-Ore., participates in the House Transportation Committee hearing on "Oversight of the Department of Transportation's Policies and Programs and Fiscal Year 2025 Budget Request" in the Rayburn House Office Building on Thursday, June 27,...
RBI injects Rs 25,000 cr via VRR route to boost system liquidity, ET BFSI
Mumbai: The Reserve Bank of India (RBI) injected funds into the banking system as the weighted average call rate, a barometer for short-term borrowing costs, rose 23 basis points above the policy repo rate at 6.73% on Friday.Surplus liquidity in the banking system...
Former NY cop pleads guilty to foreign exchange fund fraud conspiracy
U.S. Attorney for the Eastern District of New York, Breon Peace, speaks during a news conference in Brooklyn, New York, U.S., October 22, 2024.Brendan Mcdermid | ReutersFormer New York City police officer Jason Rodriguez pleaded guilty to conspiracy to commit wire...
Trump hush money sentencing delayed indefinitely
Former US President Donald Trump attends the second day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on April 16, 2024.Mary Altaffer | AFP | Getty ImagesA New York judge Friday...
RBI, Maldives Monetary Authority sign pact to promote use of local currencies, ET BFSI
The RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies -- the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding...
Trump AG pick Matt Gaetz says he’s withdrawing
US Representative Matt Gaetz (R-FL) speaks to members of the media after speaking on the House floor about a possible Motion to Vacate to oust US Speaker of the House Kevin McCarthy, outside the US Capitol in Washington, DC, on October 2, 2023.Saul Loeb