Politics
China’s central bank cuts interest rates to revive property sector, ET BFSI
Representative ImageBANGKOK: China's central bank cut key interest rates in a surprise move Monday aimed at injecting new life into its ailing property sector, while the ruling Communist Party released details of a top-level meeting focused on strategies for revving...
U.S., Japan to hold high-level security talks on nuclear deterrence
Foreign and defense ministers from Japan and the United States will hold security talks on July 28 that for the first time will cover "extended deterrence", a term used to describe the U.S. commitment to use its nuclear forces to deter attacks on allies.Wong Yu Liang...
RBI Deputy Governor Rao, ET BFSI
Third-party dependence by banks and other regulated entities can create situations of dependence on single vendors for critical services, thus increasing risks, said Reserve Bank of India deputy governor M Rajeshwar Rao, making the observation days after a global...
China rate cut sends rupee to record intraday low, BFSI News, ET BFSI
The rupee on Monday touched a record low intraday level versus the US dollar as a weaker Chinese yuan dragged Asian units lower, with likely interventions by the Reserve Bank of India reining in weakness in the local currency, whose valuation has become pricier,...
Kamala Harris debuts presidential campaign
U.S. futures ease as focus shifts to key earningsS&P 500 futures eased 0.14% at 08:52 a.m. London time in the Tuesday premarket session, as investors shifted focus toward anticipated earning reports, including giants like General Motors, Coca-Cola, Alphabet and...
UK planned to spend 10 billion pounds on Rwanda asylum scheme
Britain in April struck up a £120 million ($148 million) deal with Kigali to send some migrants, who had reached the U.K. illegally by crossing the Channel in small boats from Europe, to live in Rwanda.Gareth Fuller - Pa Images | Pa Images | Getty ImagesBritain's...
Secret Service failed Trump at campaign rally shooting, Cheatle tells House
Embattled Secret Service Director Kimberly Cheatle told a House panel on Monday that "we failed" to maintain the agency's "solemn mission to protect our nation's leaders" during the attempted assassination of former President Donald Trump on July 13."We must learn...
Republicans call on Biden to resign
Republican lawmakers are calling on President Joe Biden to resign after he announced Sunday that he will no longer seek reelection."If Joe Biden is not fit to run for President, he is not fit to serve as President," Speaker of the House Mike Johnson said in a post on...
Kamala Harris needs to turn her political fortunes around in quicktime
Vice President Kamala Harris speaks during a political event at the Air Zoo Aerospace & Science Experience in Portage, Michigan, on July 17, 2024.Jeff Kowalsky | AFP | Getty ImagesThe pressure is on Vice President Kamala Harris to turn around her political...
Pelosi spoke to Biden the day before he dropped out of 2024 election
U.S. President Joe Biden presents the Presidential Medal of Freedom to U.S. Representative and former House Speaker Nancy Pelosi (D-CA) during a ceremony at the White House in Washington, U.S., May 3, 2024. Evelyn Hockstein | ReutersFormer House Speaker Nancy Pelosi,...
Here are Kamala Harris’ next steps after securing Biden’s endorsement
Vice President Kamala Harris on Sunday received President Joe Biden's endorsement to replace him at the top of the Democratic ticket in the race against Donald Trump."I am honored to have the President's endorsement and my intention is to earn and win this...
Female labour force participation spikes in last six years, ET BFSI
Economic Survey 2024: Female labour force participation spikes in last six yearsThe Economic Survey 2024 on Monday said the female labour force participation has been rising over the last six years, and the unemployment rate is on the decline."The female labour force...
Kamala Harris sees surge in big money support after Biden drops out
Vice President Kamala Harris is already seeing a wave of big money donor support following President Joe Biden dropping out of the race, with the help of bundlers who have assisted her in past races, according to people familiar with the matter.Moments after Biden...
RBI steps up measures to drain out excess liquidity, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has sought to prevent potentially inflation-stoking banking system liquidity enhancement through deft currency and bond market interventions, with foreign inflows into local sovereign debt quickening after the country's inclusion in a...
Biden drops out of U.S. presidential race, global leaders react
US President Joe Biden speaks during an economic summit at the College of Southern Nevada in Las Vegas, Nevada, on July 16, 2024. Kent Nishimura | Afp | Getty ImagesU.S. President Joe Biden on Sunday dropped his reelection bid and and backed Vice President Kamala...
Fundraising via bonds halves in June as issuers wait for Budget, govt cues, ET BFSI
Private placements of corporate bonds saw a modest decline in June, reflecting a period of cautious fundraising amid moderating credit growth and uncertainty surrounding new government policies. Corporations and financial institutions raised Rs 66,300 crore through...
Indian economy likely to grow at 6.5-7% in FY25, ET BFSI
The Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday said the Indian economy is on a strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges."High economic growth in FY24 came on...
Kamala Harris presidential campaign as Biden drops out
Trump rains criticism after Biden's decision to withdraw from presidential raceRepublican presidential nominee, former U.S. President Donald Trump pauses while speaking after officially accepting the Republican presidential nomination on stage on the fourth day of the...
Read President Joe Biden’s letter announcing his decision to drop out of the 2024 race
U.S. President Joe Biden looks on at the 115th NAACP National Convention in Las Vegas, Nevada, U.S., July 16, 2024. Tom Brenner | ReutersPresident Joe Biden on Sunday announced he will not be seeking reelection in the 2024 presidential race and endorsed Vice...
Biden drops out of 2024 presidential election against Trump
U.S. President Joe Biden attends a NATO event to commemorate the 75th anniversary of the alliance, in Washington, U.S., July 9, 2024.Yves Herman | ReutersPresident Joe Biden on Sunday dropped out of the 2024 presidential race and endorsed Vice President Kamala Harris...
Secret Service says it denied some Trump requests for extra security
Former US President Donald Trump exits after attending the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, US, on Monday, July 15, 2024. Al Drago | Bloomberg | Getty ImagesThe Secret Service denied some of former President Donald...
Sen. Joe Manchin calls on Biden to drop out of presidential race
Sen. Joe Manchin, D-W.Va., is seen in the U.S. Capitol on Wednesday, September 6, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesIndependent Sen. Joe Manchin on Sunday called on President Joe Biden to exit the race against former President Donald Trump."I came...
Rep. Takano calls on Biden to exit race, pass the torch to Harris
Chairman Mark Takano, of the House Committee on Veterans’ Affairs (D-CA) speaks alongside members of the Congressional Delegation who recently traveled to the Indo-Pacific Region at a press conference in the U.S. Capitol Building on August 10, 2022 in Washington,...
VP Kamala Harris and Democratic donors discuss ‘urgent, emerging needs’ in the race, with Biden campaign in crisis
Vice President Kamala Harris joined a call with major Democratic donors Friday afternoon to discuss what the hosts called "urgent, emerging needs." The call came as more Democratic lawmakers publicly call on President Joe Biden to drop his bid for reelection.A Biden...
RBI Guv Das, ET BFSI
Governor Shaktikanta Das on Friday said the Reserve Bank does not have any plan to allow business houses to promote banks at present. Allowing corporate houses to promote banks exposes one to conflict of interest risks and related-party transactions, Das said,...
Top UN court says Israel’s occupation of Palestinian territories is illegal
Judges at the International Court of Justice (ICJ) rule on emergency measures against Israel following accusations by South Africa that the Israeli military operation in Gaza is a state-led genocide, in The Hague, Netherlands, January 26, 2024. Piroschka Van De Wouw |...
More Democrats call for new nominee
U.S. President Joe Biden arrives to deliver remarks on the assassination attempt on Republican presidential candidate former President Donald Trump, at the White House on July 14, 2024 in Washington, DC.Kevin Dietsch | Getty ImagesSix more congressional Democrats,...
RBI assessment shows 10 banks, NBFCs experienced ‘minor’ disruptions, ET BFSI
In the wake of a widespread outage in Microsoft Services, the Reserve Bank of India (RBI) on Friday said that it has conducted a thorough assessment to estimate the impact of this outage on its regulated entities, particularly within the Indian financial sector. The...
Biden won’t drop out, campaign insists in new memo
U.S. President Joe Biden looks on at the 115th NAACP National Convention in Las Vegas, Nevada, U.S., July 16, 2024. Tom Brenner | ReutersPresident Joe Biden's campaign insisted Friday that he will remain at the top of the Democratic ticket, insisting in a new memo...
RBI asks banks and payment cos to submit status update on Microsoft outage, ET BFSI
The Reserve Bank of India has enquired with banks whether their customer-facing channels- branches, ATM, mobile banking and net banking - were operating well after technical problem at the US tech giant Microsoft and its vendor American cyber security company...
Vietnam Communist Party chief Trong dies at 80, state media says
Vietnamese Communist Party General Secretary Nguyen Phu Trong looks on as he is received by Russian President Vladimir Putin during talks with on September 6, 2018 in Sochi, Russia. Mikhail Svetlov | Getty Images News | Getty ImagesVietnam's Communist Party chief...
Hunter Biden cites Trump ruling in seeking tax, gun cases dismissal
Lawyers for Hunter Biden on Thursday asked federal judges in California and Delaware to dismiss the criminal tax and gun cases against him in their courts, citing a recent opinion by Supreme Court Justice Clarence Thomas and the related dismissal this week of the...
Democratic donors push Biden to drop out, as Kamala Harris events fill up
U.S. President Joe Biden and Vice President Kamala Harris stand on stage together after delivering remarks at the DNC 2023 Winter Meeting in Philadelphia, Pennsylvania, U.S., February 3, 2023.Elizabeth Frantz | ReutersOn a Tuesday in early July, 75 wealthy Democratic...
What happens next if Biden drops out of the presidential race
US President Joe Biden steps off Air Force One as he arrives at Hagerstown Regional Airport in Hagerstown, Maryland, June 20, 2024, on his way to Camp David.Samuel Corum | AFP | Getty ImagesPresident Joe Biden is under siege from within his own party, as more...
Share of low-cost CASA deposits bottoms out, says RBI Bulletin, ET BFSI
The share of low-cost current and saving deposits has largely bottomed out in the 39-40% range in a steady decline from about 44% in 2021-22."This is likely to squeeze banks’ net margins going forward and prompt repricing of deposit books. In fact, banks have been...
Deposits still most preferred instrument of saving: RBI article, ET BFSI
Mumbai: Deposits are still the most preferred instrument of saving in India although market-based instruments are gaining share, said an article published in the Reserve Bank's July Bulletin. The article provides estimates of quarterly financial balance sheet of...
Trump to speak at RNC amid Biden election questions
Donald Trump reportedly does not plan to mention President Joe Biden by name during his speech accepting the presidential nomination at the Republican National Convention in Milwaukee.Trump's planned avoidance of referring to the Democratic incumbent by name, which...
RBI extends submission deadline for third global hackathon, HaRBInger 2024, ET BFSI
Originally set to close on July 19, 2024, the deadline has now been extended to July 31, 2024.The Reserve Bank of India (RBI) has announced an extension of the submission deadline for its third global hackathon, HaRBInger 2024. Originally set to close on July 19,...
Spotlight on Harris while Biden faces pressure to drop out
U.S. Vice President Kamala Harris campaigns at Westover High School in Fayetteville, North Carolina, U.S., July 18, 2024. Kevin Mohatt | ReutersVice President Kamala Harris touted the nation's domestic manufacturing resurgence under President Joe Biden on Thursday at...
RBI forms panel to review fee structure for white-label ATMs, BFSI News, ET BFSI
New Delhi: The Reserve Bank of India (RBI) has set up a committee to review the fee structure for white-label ATMs (WLAs). This committee will evaluate current policies and practices, aiming to recommend a fair and sustainable model that balances the interests of all...
Household savings are moving to mutual funds from banks impacting their liquidity: RBI governor, ET BFSI
NEW DELHI: Households are choosing the capital markets over the banks to park or invest their savings, highlighted RBI governor Shaktikant Das during his address at FE Modern BFSI (Banking, Financial Services, and Insurance) Summit 2024 on Friday.Governor Das...
Trump RNC speech recounts assassination bid
Former President Donald Trump recounted the assassination attempt that nearly killed him during his Republican National Convention acceptance speech in Milwaukee on Thursday night."I'm not supposed to be here tonight," said a somber Trump, with a bandage covering his...
Biden under Democrat pressure to drop out against Trump
U.S. President Joe Biden in the Oval Office at the White House in Washington on April 15, 2024.Elizabeth Frantz | ReutersAs President Joe Biden isolated at his beach house in Rehoboth, Delaware, on Thursday after testing positive for Covid, he faced renewed pressure...
Biden has ‘mild’ Covid symptoms, no fever, White House doctor says
U.S. President Joe Biden arrives to deliver remarks following the incident that occurred at a campaign rally for former U.S. President Donald Trump, in Rehoboth Beach, Delaware, U.S., July 13, 2024.Tom Brenner | Via ReutersPresident Joe Biden is still dealing with...
Ukraine’s Zelenskyy hits out at self-appointed peace negotiator Orban
Ukrainian President Volodymyr Zelensky attends the European Political Community (EPC) summit at the Blenheim Palace in Woodstock, Oxfordshire, United Kingdom on July 18, 2024.Anadolu | Getty ImagesOXFORD, England — Ukraine's President Volodymr Zelenskyy on Thursday...
SEC sues Trump Media SPAC ex-CEO Patrick Orlando for alleged fraud
The US Securities and Exchange Commission (SEC) headquarters in Washington, DC, US, on Wednesday, Jan. 10, 2024.Graeme Sloane | Bloomberg | Getty ImagesThe U.S. Securities and Exchange Commission sued the former CEO of the blank-check company that merged with Trump...
EU Commission head von der Leyen elected for second term
Ursula von der Leyen reacts after being chosen President of the European Commission for a second term, at the European Parliament in Strasbourg, France, July 18, 2024. Johanna Geron | ReutersEuropean Commission President Ursula von der Leyen was elected for a second...
Biden tests positive for Covid, cancels speech in Las Vegas
President Joe Biden tested positive for Covid-19 on Wednesday, the White House said.The president, who was delivering speeches in Las Vegas, "is experiencing mild symptoms," White House press secretary Karine Jean-Pierre said in a statement.Biden "will be returning to...
Biden says he might withdraw if he had a medical condition
U.S. President Joe Biden boards Air Force One, at Harry Reid international airport in Las Vegas, Nevada, U.S., July 17, 2024. Tom Brenner | ReutersPresident Joe Biden said in an interview airing Wednesday that he might reconsider his decision to stay in the race...
JD Vance accepts nomination; Kai Trump, Peter Navarro deliver memorable moments
Vance says he won't take Trump's trust 'for granted'US former President and 2024 Republican presidential candidate Donald Trump and US Senator from Ohio and 2024 Republican vice presidential candidate J.D. Vance aplaud during the second day of the 2024 Republican...
China’s Communist Party removes ex-foreign, defence ministers from top body
High Representative for Foreign Affairs Josep Borrell was due to meet Chinese Foreign Minister Qin Gang, pictured on May 23, 2023 in Beijing, China. (Photo by Thomas Peter-Pool/Getty Images)Pool | Getty Images News | Getty ImagesChina's Communist Party removed its...
The West must confront the ‘deadly quartet’ of global adversaries
NATO leaders attend the Allied and Partner Heads of State and Government Meeting as part of the NATO Heads of State and Government Summit in Washington DC., United States on July 11, 2024.Anadolu | Getty ImagesLONDON — Hot on the heels of last week's NATO summit that...
UK’s Starmer aims to overhaul EU relations as Trump specter looms
British Prime Minister Keir Starmer reacts as he meets with Defence Secretary John Healey and Member of the House of Lords George Robertson at 10 Downing Street on July 16, 2024 in London, England. Wpa Pool | Getty Images News | Getty ImagesOXFORD, England — The...
Govt’s Next Move After RBI’s ‘Fit & Proper’ Report, ET BFSI
NEW DELHI: With RBI giving its “fit and proper” report on bidders for IDBI Bank, all eyes are now on govt and the Budget as the market awaits for a signal on disinvestment.IDBI Bank has been up for privatisation for several years, and govt had been awaiting an RBI’s...
U.S.-China tensions are not a ‘new Cold War’: Bilahari Kausikan
NEW YORK, NY - SEPTEMBER 19: AMB. Bilahari Kausikan, Ministry of Foreign Affairs of Singapore speaks at The 2017 Concordia Annual Summit at Grand Hyatt New York on September 19, 2017 in New York City.Paul Morigi | Getty Images Entertainment | Getty ImagesWhile some...
India gov’t to stick to February budget targets despite election rebuke, ET BFSI
By Vivek Mishra and Anant ChandakBENGALURU -The Indian government remains committed to upholding pre-election borrowing and spending targets in the July 23 budget, despite the ruling Bharatiya Janata Party (BJP) losing its majority in this year's national vote, a...
Special counsel Jack Smith appeals dismissal of Trump classified documents case
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...
Ex-Trump aide Peter Navarro to speak at RNC hours after leaving jail
Former Donald Trump adviser Peter Navarro holds a press conference before turning himself into a federal prison on March 19, 2024, in Miami, Florida. Joe Raedle | Getty ImagesPeter Navarro, the former Trump trade advisor who was convicted of defying a subpoena from...
Rep. Adam Schiff calls on Biden to drop out of election contest, warns of losing Congress
Rep. Adam Schiff (D-CA) appears on "Meet the Press" in Washington D.C., Sunday July 7, 2024. William Plowman | Nbcuniversal | Getty ImagesCalifornia Democratic Rep. Adam Schiff on Wednesday urged President Joe Biden to exit the 2024 presidential election...
Secret Service changes story on SWAT position
United States Secret Service Director Kimberly Cheatle speaks during a press conference at the Secret Service's Chicago Field Office on June 4 2024 in Chicago, Illinois, ahead of the 2024 Democratic and Republican National Conventions. Kamil Krzaczynski | Afp | Getty...
Biden nomination won’t be fast tracked, buys time for skeptics
US President Joe Biden departs from the White House for Las Vegas on July 15, 2024, in Washington, DC. United States.Celal Gunes | Anadolu | Getty ImagesThe Democratic National Committee said that any virtual roll call to officially nominate President Joe Biden as the...
UK’s Labour uses King’s speech to pledge planning, energy reform
King Charles III, wearing the Imperial State Crown and the Robe of State reads the King's Speech from the The Sovereign's Throne next to Queen Camilla, wearing the George IV State Diadem in the House of Lords chamber, in the Houses of Parliament on July 17, 2024 in...
RBI asks banks to strengthen fraud detection and prevention framework, monitor transactions, ET BFSI
In a significant move to bolster fraud detection and prevention, the Reserve Bank of India (RBI) has mandated banks to implement a comprehensive framework for Early Warning Signals (EWS) and Red Flagging of Accounts (RFA). This framework is to be incorporated into the...
Sebi proposes provisions for summary proceedings in intermediaries rules, ET BFSI
Capital markets regulator Sebi on Tuesday proposed introducing provisions for "summary proceeding" in the intermediaries rules to handle certain violations of securities laws by intermediaries more swiftly and efficiently. In this regard, the Securities and Exchange...
RBI may revisit ‘withdrawal of accommodation’ stance by September: SBI Research, ET BFSI
The Reserve Bank of India (RBI) may revisit its 'withdrawal of accommodation' policy stance in September following a drop in US inflation and domestic inflation localised to a few items, said SBI's research unit."With US inflation having declined by 0.1% from May,...
Trump shooting motive unknown after assassination attempt
Republican presidential nominee and former U.S. President Donald Trump walks during Day 1 of the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 15, 2024.Andrew Kelly | ReutersThe motive of the 20-year-old gunman who tried...
RBI’s clear message to fintechs, BFSI News, ET BFSI
The Reserve Bank of India wants fintech startups to strictly follow the customer verification guidelines while onboarding new clients. Central bank officials conveyed this message to industry representatives during multiple meetings over the last couple of months.RBI...
These 10 transactions will be reported as fraud to RBI, as per new rules, ET BFSI
The Reserve Bank of India (RBI) has released revised rules on the Master Directions on Fraud Risk Management in commercial banks including regional rural banks and all India financial institutions.The RBI said in a circular dated July 16, 2024, “These master...
RNC 2024 Day 2 saw Haley, DeSantis, Rubio, Cruz bend the knee
Lara Trump urges Americans to 'remember what it was like' when Trump was presidentRepublican National Committee Co-Chair Lara Trump speaks on Day 2 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 16, 2024. Brian...
House Democrats circulate letter asking DNC not to rush Biden nomination
US President Joe Biden walks out of the Oval Office towards Marine One on the South Lawn of the White House in Washington, DC, on July 15, 2024. Samuel Corum | Afp | Getty ImagesHouse Democrats are circulating a letter for signatures that urges the Democratic National...
Iran plot to kill Trump boosted Secret Service protection before shooting
Republican presidential candidate and former U.S. President Donald Trump with his bloodied face is assisted by the Secret Service as multiple shots rang out during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, U.S., July 13, 2024. Brendan Mcdermid...
Trump endorses vaccine conspiracy in leaked call with RFK Jr. after assassination attempt
Combination showing Former President Republican nominee Donald Trump (L), and Independent candidate Robert F. Kennedy.ReutersRepublican presidential nominee Donald Trump repeated false conspiracy theories about childhood vaccinations during a recent call with the...
Welsh First Minister Vaughan Gething steps down
First Minister of Wales Vaughan Gething gives a speech during King Charles III and Queen Camilla visit to the Senedd in Cardiff, to mark its 25th anniversary on July 11, 2024 in Cardiff, Wales. Wpa Pool | Getty Images Entertainment | Getty ImagesVaughan Gething said...
Trump 2.0 could be bad news for global inflation, analysts say
US former President and 2024 Republican presidential candidate Donald Trump, a bandage on his ear after being wounded in an assassination attempt, attends the first day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 15,...
Elon Musk plans to give $45 million a month to pro-Trump super PAC, WSJ reports
Elon Musk attends 'Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk' session during the Cannes Lions International Festival Of Creativity 2024 - Day Three on June 19, 2024 in Cannes, France. Marc Piasecki | Getty ImagesElon Musk has...
RFK Jr. getting Secret Service protection
Independent presidential candidate Robert F. Kennedy Jr. addresses the Libertarian Party's national convention in Washington, U.S., May 24, 2024. Brian Snyder | ReutersIndependent presidential candidate Robert F. Kennedy Jr. will receive Secret Service protection at...
‘Bulls-eye’ remark was a mistake in light of Trump shooting
U.S. President Joe Biden delivers remarks following the incident that occurred at a campaign rally for former U.S. President Donald Trump, in Rehoboth Beach, Delaware, U.S., July 13, 2024. Tom Brenner | Via ReutersPresident Joe Biden said he should not have used the...
RBI to banks, ET BFSI
The Reserve Bank of India (RBI) has asked banks to give borrowers at least three weeks to respond before tagging them as fraud accounts. The regulator has also said the decision conveyed to the borrower must contain their submission and reasons for classifying the...
India’s covid-year employment spike led by agriculture: RBI Data, ET BFSI
The Reserve Bank of India's (RBI) recent analysis of employment data for the pandemic year 2020-21 has revealed significant increases in employment within agriculture and allied activities, construction, health, and social welfare. This report, which measures...
Trump lauded at Republican convention, his first public appearance since assassination attempt
Former President Donald Trump was cheered and celebrated when he arrived at the Republican National Convention in Milwaukee Monday, his first public showing since the assassination attempt against him at his Pennsylvania rally.The former president was wearing a...
Trump shooting puts Secret Service under scrutiny
Editor's note: This is a developing story and will be updated throughout the day.The Secret Service is under growing pressure to explain what went wrong in the hours and minutes before a gunman opened fire in an attempted assassination on former President Donald Trump...
Trump to announce VP choice within hours, ex-president tells Fox News
FILE PHOTO: Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, U.S., July 13, 2024. Brendan Mcdermid | ReutersDonald Trump plans to announce his running mate on...
Trump classified documents case dismissed by judge over special counsel appointment
A federal judge in Florida on Monday dismissed the criminal classified documents case against former President Donald Trump, saying the appointment of special counsel Jack Smith as prosecutor for the case violated the appointments clause of the U.S. Constitution.Trump...
RBI issues directions for banks, NBFCs to cut fraud risk, BFSI News, ET BFSI
Mumbai, The Reserve Bank of India on Monday issued three revised Master Directions on fraud risk management for banks, NBFCs and housing finance companies. These Master Directions are principle-based and strengthen the role of the Board in overall governance and...
Trump Media shares rise after assassination attempt
Former US President and Republican presidential candidate Donald Trump speaks during a campaign rally at the Historic Greenbrier Farms in Chesapeake, Virginia, on July 28, 2024.Jim Watson | Afp | Getty ImagesTrump Media & Technology Group shares surged 50% in...
How regulators are using banks to illuminate shadow banks, ET BFSI
By Paritosh Bansal- The Federal Reserve has proposed new rules that would allow it to gather granular details about banks' exposure to shadow banks, a move that shows how regulators are trying to understand the risks there and the limits of that approach.Shadow banks,...
Bank of England’s Dhingra says rates should come down now, BFSI News, ET BFSI
LONDON, - Bank of England interest rate-setter Swati Dhingra said inflation in Britain was unlikely to rise sharply again and the central bank should bring down borrowing costs."Now is the time to start normalising (interest rates) so we can then finally stop...
World leaders condemn assassination attempt on Trump: ‘Tragedy for democracy’
Republican candidate Donald Trump is seen with blood on his face surrounded by secret service agents as he is taken off the stage at a campaign event at Butler Farm Show Inc. in Butler, Pennsylvania, July 13, 2024. Rebecca Droke | Afp | Getty ImagesWorld leaders have...
Banks seek hike in foreign investor cap, BFSI News, ET BFSI
Banks have requested the Reserve Bank of India (RBI) to increase transaction limits for foreign participation in certain rate derivatives, which have seen heightened activity since JP Morgan announced the inclusion of local bonds in its Emerging Market Bond Index,...
SBI Research report, ET BFSI
Retail inflation, or the Consumer Price Index (CPI) in India, is expected to remain below or close to 5.0 percent in the remaining months of 2024-25, except for September, according to SBI Research.India's retail inflation rate increased in June, deviating from the...
Trump shooting live updates: Two still in critical condition; campaigns on high alert
Two people who were shot during the attempted assassination of former President Donald Trump are still in critical condition.
Trump megadonors, VP hopefuls headline Republican National Convention
Former US President and Republican presidential candidate Donald Trump speaks during a rally in Doral, Florida, on July 9, 2024.Giorgio Viera | Afp | Getty ImagesThe Trump campaign and the Republican National Convention on Saturday jointly announced the speaker lineup...
Trump injured after shots fired at rally; one attendee killed, shooter also dead
This is a developing story. Refresh for live updates.Former President Donald Trump was rushed off stage by the Secret Service at a Pennsylvania rally on Saturday after shots were fired, and taken to a local medical facility where he is receiving care. His spokesman...
Biden condemns violence in remarks
President Joe Biden delivered remarks on Saturday evening after former President Donald Trump was injured and rushed offstage when gunshots were fired at his political rally."There's no place in America for this kind of violence," Biden said in Rehoboth Beach,...
Photos show Trump with blood on his face on stage at rally
Republican presidential candidate former President Donald Trump is surrounded by U.S. Secret Service agents at a campaign rally, Saturday, July 13, 2024, in Butler, Pa.Evan Vucci | APEDITORS NOTE: GRAPHIC CONTENT: Images depict gunshot wounds and an image of the body...
Trump victory trades to swell after shooting, investors say
Saturday's shooting at U.S. former President Donald Trump's election rally raises his odds of winning back the White House, and trades betting on his victory will increase this coming week, investors said on Sunday. Trump was shot in the ear during the rally in...
Rally shooter ID’ed as Thomas Matthew Crooks
World leaders respond to Trump assassination attempt British Prime Minister Keir Starmer speaks to media at the Stormont Parliament Buildings, in Belfast, Northern Ireland, July 8, 2024. Clodagh Kilcoyne | ReutersLeaders around the world reacted on social media...
Bernie Sanders urges Dems to ‘stop the bickering’ and back Biden
Sen. Bernie Sanders urged Democrats to "stop the bickering" and support President Joe Biden, admonishing those who have been spurred by fears about the incumbent's health to call for a new nominee to compete against former President Donald Trump."Enough!" Sanders, an...
Biden drop out urged by climate change group
Sunrise Movement protesters gather near Vice President Kamala Harris' Brentwood home calling on her to urge President Joe Biden to declare a climate emergency. Simon Aron, left, and Josiah Edwards, center, lead a chant.Robert Gauthier | Los Angeles Times | Getty...
Judge dismisses Alec Baldwin ‘Rust’ manslaughter case
US actor Alec Baldwin participates in a pretrial hearing in Santa Fe, New Mexico, on July 8, 2024. Ross D. Franklin | AFP | Getty ImagesA New Mexico judge on Friday dismissed the criminal involuntary manslaughter case against Alec Baldwin on the third day of the...
Monetary policy will anchor India’s growth ambitions, said RBI DG Michael Patra, ET BFSI
Mumbai: India could emerge as the second largest economy by 2031 and largest economy in the world by 2060 riding on a stable investment rate, macroeconomic and financial stability, favourable demographics and growth multipliers like digitisation, Reserve Bank of India...
RBI deputy guv Michael Patra, ET BFSI
MUMBAI: India could emerge as the world's second largest economy by 2031 and the largest economy by 2060, riding on a stable investment rate, macroeconomic and financial stability, favourable demographics and growth multipliers like digitisation, Reserve Bank of India...
Australia PM tells Russia to ‘back off’ after claims over espionage arrests
A Russian diplomat leaves a plot of land where Russia's attempts to build a new embassy near Australia's parliament, suffered a legal blow with a top court backing the government's effort to seize the land, in Canberra on June 26, 2023.Yoann Cambefort | AFP | Getty...
Rudy Giuliani bankruptcy case dismissed
Rudy Giuliani speaks to members of the media where Republican candidate Florida Gov. Ron DeSantis was scheduled to host a campaign event on January 21, 2024 in Manchester, New Hampshire.Brandon Bell | Getty ImagesA New York federal bankruptcy judge on Friday dismissed...
Economists say Trump would reheat inflation more than Biden: WSJ
Combination picture showing former U.S. President Donald Trump and U.S. President Joe Biden.ReutersA majority of economists surveyed by The Wall Street Journal said former President Donald Trump's policies would be more likely to reignite inflation than President Joe...
Biden ally Ron Conway spoke to Nancy Pelosi about concerns
Then House Minority Leader Nancy Pelosi, a Democrat from California, center, speaks with Ron Conway, founder of SV Angel, right, during the DreamForce Conference in San Francisco, California, U.S., on Wednesday, Oct. 5, 2016.David Paul Morris | Bloomberg | Getty...
More Democrats ask president to drop out
U.S. President Joe Biden waves at a press conference during NATO's 75th anniversary summit, in Washington, U.S., July 11, 2024.Nathan Howard | ReutersThe reelection campaign of President Joe Biden started the day Friday facing the very real prospect that even more...
House Democratic leader met with Biden about ‘the path forward’
US House Minority Leader Hakeem Jeffries speaks to press at the White House after a meeting with President Joe Biden and Vice President Kamala Harris on funding the government and avoiding a shutdown in Washington D.C., United States on February 27, 2024. Celal Gunes...
Biden calls Ukraine leader Zelenskyy President Putin
President Joe Biden mistakenly introduced Ukrainian President Volodymyr Zelenskyy as "President Putin" at the NATO summit Thursday, an embarrassing verbal stumble at a time when Biden faces intense questions about his mental competency.Biden's confusion of Zelenskyy...
Biden interview edited by Black radio show following campaign request
U.S. President Joe Biden delivers remarks at a campaign event in Harrisburg, Pennsylvania, U.S., July 7, 2024. Nathan Howard | ReutersThe campaign of President Joe Biden asked for and received two edits to an interview he gave a Milwaukee radio station on the heels of...
President Joe Biden holds rare solo press conference
[The stream is slated to start at 7 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to hold a solo press conference in Washington on Thursday following a busy day of NATO Summit events.The press conference is...
RBI purchases gold at an average of 40 tonnes over past five years, ET BFSI
The Reserve Bank of India has purchased over 40 tonnes (average) of gold over the past five years (2019-2023), a recent report highlighted.The data released by the PHD Research Bureau, compiled from World Gold Council highlighted the gold purchase trend by the RBI...
Biden news conference carries high stakes as campaign teeters
U.S. President Joe Biden speaks at a press conference during NATO's 75th anniversary summit, in Washington, U.S., July 11, 2024.Yves Herman | ReutersPresident Joe Biden on Thursday mistakenly referred to Vice President Kamala Harris as "Vice President Trump" in the...
Why does China’s central bank have a new cash management tool?, ET BFSI
China's central bank introduced a new cash management tool this week in the form of temporary bond repurchase (repo) agreements and reverse repos, adding to its various open market operations and creating what could become an important interest rate indicator.The...
Biden won’t drop out against Trump unless polls show zero chance
President Joe Biden on Thursday said that nothing would make him reconsider his decision to remain in the 2024 presidential election contest unless polling data showed "there's no way you can win.""No one's saying that," Biden said in a stage whisper during a news...
CPI inflation continues to be close to 5%… it’s too early to talk on rate cut: Shaktikanta Das, ET BFSI
Mumbai: The Reserve Bank of India (RBI) Governor, Shaktikanta Das, said on Thursday it was too early to talk about a cut in policy rates given the uncertain global economic environment and a persistently high home consumer inflation, which has trended above the...
Biden touts cooling inflation, slams Trump tariffs at press conference
President Joe Biden on Thursday trumpeted the latest inflation report in the opening remarks of his highly anticipated solo press conference in Washington."Just this morning, we had a great economic report showing inflation is down," he said. "Overall, prices fell...
RBI, BFSI News, ET BFSI
New Delhi, As India aims to become the world's third largest economy soon, the banking sector is undergoing a decade-high performance in financial metrics, according to Swaminathan J, Deputy Governor of the Reserve Bank of India (RBI).According to him, the central...
RBI governor hints interest rates may stay higher for longer, BFSI News, ET BFSI
MUMBAI: RBI governor Shaktikanta Das on Thursday indicated that interest rates may remain higher for longer. With a 4.75% rise in retail inflation in May, Das said that inflation numbers for June - which will be announced on Friday - are expected to be close to 5%,...
UAW considering next steps on worries Trump could beat Biden
Joe Biden and Donald Trump 2024Brendan Smialowski | Jon Cherry | Getty ImagesUnited Auto Workers President Shawn Fain met with the union's executive board late on Thursday to discuss his deep concerns with President Joe Biden's ability to defeat Donald Trump in the...
Biden election bid teeters as Democratic senator urges drop out
US President Joe Biden walks to the White House in Washington, DC, on July 7, 2024, after attending campaign events in Pennsylvania. Chris Kleponis | Afp | Getty ImagesPresident Joe Biden is set to face reporters at a potentially make-or-break solo press conference on...
RBI’s new diktat lowers loan costs for you, but banks lose hundreds of crores, ET BFSI
MUMBAI: Banks and non-bank financing companies are likely to report a dip in their profitability in the June quarter due to the impact of the Reserve Bank of India (RBI) directive on charging interest on loans only from the date of actual disbursement.Lenders...
Emerging variable in monetary policy, BFSI News, ET BFSI
The late arrival of the monsoon after a period of intense heat waves is likely to weigh on June inflation data when it is issued on Friday. Inflation for the month is likely to rise 5% year-on-year, higher than the trend expected earlier in the month, according to a...
Why RBI should be concerned about climate change, BFSI News, ET BFSI
June inflation figures are scheduled to be released on Friday. A delayed start to the southwest monsoon and prolonged heat wave is likely to have pushed June inflation for India to 5% year-on-year, higher than the trend anticipated earlier in the month according to a...
NATO condemns China as a ‘decisive enabler’ of Russia’s war in Ukraine
The NATO logo seen during the coalition's summit in Washington D.C. on July 10.Nurphoto | Nurphoto | Getty ImagesIn NATO's most serious denunciation of China to date, the military coalition labeled Beijing a "decisive enabler" of Russia in its ongoing war in Ukraine...
Fed would not wait for 2% inflation to consider rate cut: Powell, ET BFSI
Washington, Jul 10, 2024 -The US central bank will not want to wait for inflation to cool to its two percent target before considering a rate cut, Federal Reserve Chair Jerome Powell told lawmakers Wednesday."We've said that you don't want to wait until inflation gets...
Japan worried about ‘transactional’ Trump presidency, Pesek says
Prime Minister of Japan Shinz Abe, and U.S. President Donald Trump hold a joint press conference in the Rose Garden at the White House in Washington, D.C., on Thursday, June 7, 2018.Cheriss May | NurPhoto | Getty ImagesPesek said that the Japanese government had been...
SBI Report, BFSI News, ET BFSI
The recent KLEMS [capital (K), labour (L), energy (E), material (M) and services (S)]data by the Reserve Bank of India and the ASUSE (Annual Survey of Unincorporated Sector Enterprises) employment numbers of the government broadly match, SBI Research said in its...
RBI permits banks to use ratings of Brickwork Ratings subject to conditions, ET BFSI
The Reserve Bank of India has permitted banks to use the ratings of Brickwork Ratings India Private Limited, two years after the central bank had instructed its regulated entities that no fresh ratings would be obtained from the firm, which was pulled up by regulators...
Senators strike bipartisan deal for Congress ban on stock trading
Senator Jeff Merkley (D-OR) speaks alongside members of the U.S. Senate Banking, Housing, and Urban Affairs Committee during a news conference to discuss the details of the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act at the U.S. Capitol in...
Ashley Biden diary thief arrested before jail surrender date
Aimee Harris, right, walks out of Manhattan federal court, Tuesday, April 9, 2024, in New York.Larry Neumeister | APA Florida woman was arrested Monday in Georgia on motor vehicle, marijuana, and other state charges just one day before her scheduled voluntary...
George Clooney calls on Biden to drop out of presidential race
U.S. President Joe Biden and former U.S. President Barack Obama share a laugh during a star-studded campaign fundraiser at the Peacock Theater in Los Angeles, California, U.S., June 15, 2024. Kevin Lamarque | ReutersHollywood superstar George Clooney said Wednesday...
Supreme Court overturns Chevron, paves way for a ‘legal earthquake’
Four days after the Supreme Court ruled in the case of Loper Bright Enterprises vs. Raimondo, overturning the 40-year-old precedent known as the Chevron deference, the justices announced they would be sending nine cases back to lower courts in light of their...
Pelosi refuses to say she supports Biden as the Democratic nominee
Former Democratic House Speaker Nancy Pelosi on Wednesday refused to explicitly endorse President Joe Biden as the party's presidential nominee, and encouraged her colleagues in Congress to pause from making public statements either for or against Biden."Let's just...
NATO leaders look to ‘Trump-proof’ the military alliance
Former U.S. president Donald Trump pictured during a meeting with NATO Secretary-General Jens Stoltenberg at Winfield House, London on Dec. 3, 2019.NICHOLAS KAMM | AFP | Getty ImagesAs NATO celebrates its 75th anniversary with a summit in Washington this week, the...
Directive on interest to hit bank, NBFC profitability in Q1, ET BFSI
MUMBAI: Banks and non-bank financing companies are likely to report a dip in their profitability in the June quarter due to the impact of the Reserve Bank of India (RBI) directive on charging interest on loans only from the date of actual disbursement.Lenders...
RBI dy guv, ET BFSI
Mumbai: The banking sector, which is at a decadal high in terms of financial parameters, is all set to support the growth of the Indian economy, Reserve Bank deputy governor Swaminathan J said on Tuesday. Addressing a conference of statutory auditors and chief...
CFOs, auditors must follow regulations in letter and spirit says RBI, ET BFSI
Chief financial officers (CFOs) of financial institutions must guard against any misadventure or intelligent interpretation of regulations or accounting standards, deputy governor Swaminathan J said in his remarks at the conference of CFOs and statutory auditors...
Suspected carjacker shot by home of Supreme Court Justice Sonia Sotomayor
Supreme Court Justice Sonia Sotomayor speaks during a service for retired Supreme Court Justice Sandra Day O'Connor in the Great Hall at the Supreme Court in Washington, D.C., on Dec. 18, 2023.Jacquelyn Martin | Getty ImagesA deputy U.S. Marshal tasked with protecting...
Expert panel to meet on July 15, discuss steps to lower risks in derivatives market, ET BFSI
An expert panel of the Securities and Exchange Board of India (Sebi) will meet early next week to discuss various measures to lower risks in the equity derivatives market, said two people familiar with the development. "The only agenda of the secondary market advisory...
Biden announces NATO aid for Ukraine, as reelection campaign teeters
U.S. President Joe Biden speaks at a NATO event to commemorate the 75th anniversary of the alliance, in Washington, U.S., July 9, 2024.Yves Herman | ReutersPresident Joe Biden announced new commitments to help Ukraine bolster its air defense against Russia in a speech...
RBI DG Swaminathan, ET BFSI
">"The fourth and most critical line of assurance for a Regulator is the bank’s Statutory Auditors," noted RBI DG Swaminathan JTransparency is the key, and by sharing comprehensive and accurate data, CFOs not only facilitate a smoother audit and supervision process...
Senators seek special counsel probe of Supreme Court Justice Clarence Thomas
Associate Justice Clarence Thomas during the formal group photograph at the Supreme Court in Washington, DC, US, on Friday, Oct. 7, 2022.Eric Lee | Bloomberg | Getty ImagesTwo Democratic Senate committee leaders asked the Justice Department to appoint a special...
New Jersey Democratic power broker pleads not guilty to state racketeering charges
New Jersey businessman and co-owner of The Philadelphia Inquirer, George Norcross walks to Judge Patricia McInerney's courtroom at City Hall in Philadelphia. Matt Rourke | APThe New Jersey Democratic power broker charged with racketeering by the state attorney general...
Democrats hold meetings on Biden campaign after Trump debate
President Joe Biden returns to the White House, July 7, 2024.Kevin Dietsch | Getty ImagesHouse Democrats convened at their national party headquarters in Washington on Tuesday for a pivotal closed-door meeting, as members weigh whether to continue backing President...
Putin hosts India’s PM to deepen ties, but Ukraine looms over their relationship
Indian Prime Minister Narendra Modi met President Vladimir Putin in Moscow on Tuesday, seeking to deepen the relationship between the two nuclear powers at a time when NATO leaders gathered in Washington and Russia launched deadly missile attacks in Ukraine that hit a...
Financial Inclusion Index reaches 64.2, India’s progress towards complete financial inclusion: RBI, ET BFSI
The Reserve Bank of India, on Tuesday, released its Financial Inclusion Index for FY24, which stands at 64.2, up from 60.1 in March 2023.“Improvement in the FI-Index is mainly contributed by the Usage dimension, reflecting deepening of financial inclusion,” said RBI...
RBI to send strict ‘zero tolerance’ message to banks’ bosses, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will meet the chief financial officers (CFOs) and external auditors of commercial banks on Tuesday to send across a message of zero tolerance towards compliance and regulatory lapses, said people aware of the matter.The people...
Biden faces crucial test at upcoming NATO summit, former diplomat says
The stakes are high for the NATO alliance as the organization's 75th anniversary summit gets underway in Washington this week.Particular focus will be on U.S. President Joe Biden amid widespread concerns about his age and mental fitness for the presidential race...
RNC panel adopts Trump-backed platform on entitlement cuts, abortion
The Republican Party's platform committee on Monday adopted a plank drafted by aides to Donald Trump, whose new language softens the GOP's prior stances on marriage and abortion while rattling off a series of utopian economic promises.Among those are vows to "end...
Joe Biden fundraising signs of weakness appear post debate
U.S. President Joe Biden boards Air Force One at Dover Air Force Base in Dover, Delaware, U.S., June 20, 2024. Amanda Andrade-rhoades | ReutersPresident Joe Biden's fundraising operation started showing cracks in its once formidable armor, almost 10 days after his...
Iran’s new reformist president Masoud Pezeshkian faces steep challenges
Newly-elected Iranian President Masoud Pezeshkian visits to the shrine of the Islamic Republic's founder Ayatollah Ruhollah Khomeini in Tehran, Iran on July 06, 2024.Fatemeh Bahrami | Anadolu | Getty ImagesIran on Friday elected its first "reformist" president in 20...
RBI to hand-deliver a message of zero tolerance on lapses, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will meet the chief financial officers (CFOs) and external auditors of commercial banks on Tuesday to send across a message of zero tolerance towards compliance and regulatory lapses, said people aware of the matter.The people...
Biden blasts ‘elites’ urging him to exit race in surprise interview
President Joe Biden arrives to speak to supporters and volunteers during a campaign stop at a Biden-Harris campaign election office in Harrisburg, Pennsylvania, on July 7, 2024. Saul Loeb | Afp | Getty ImagesPresident Joe Biden defended his place at the top of the...
Ukrainian children’s hospital hit, 31 people killed in daytime Russian missile attack
Emergency forces and civilians conduct search-and-rescue operations among the rubble of 'Okhmatdyt' Children's Hospital in Kyiv, Ukraine, on July 8, 2024.Anadolu | Anadolu | Getty ImagesA barrage of Russian missiles across Ukraine killed at least 31 people, injured...
French Prime Minister Gabriel Attal to tender resignation
France's Prime Minister Gabriel Attal gives a speech following the first results of the second round of France's legislative election at Matignon in Paris on July 7, 2024. Ludovic Marin | Afp | Getty ImagesFrench Prime Minister Gabriel Attal said he would submit his...
Democratic power players propose plan for Biden exit, ‘blitz primary’
Two Democrats with a powerful network of friends are circulating a proposal for President Joe Biden to bow out of the 2024 race and launch an expedited Democratic primary to choose a new nominee before the August convention.Rosa Brooks, a Georgetown University law...
India PM Narendra Modi meeting Russian President Vladimir Putin in Moscow
Russian President Vladimir Putin speaking to Indian Prime Minister Narendra Modi during their meeting at Taj Exotic Hotel on October, 15, 2016 in Benaulim, Goa, India.Mikhail Svetlov | Getty Images News | Getty ImagesIndia's Prime Minister Narendra Modi is set to meet...
Macron’s French snap election gamble ‘did not pay off’, professor says
France's President Emmanuel Macron looks on as he leaves after his vote in the second round of France's legislative election at a polling station in Le Touquet, northern France on July 7, 2024.Ludovic Marin | Afp | Getty ImagesThe gamble that French President Emmanuel...
How RBI’s SAARC Currency Swap Arrangement may help internationalisation of Indian rupee?, ET BFSI
In recent years, the Reserve Bank of India (RBI) has been working to increase the acceptability of the Indian Rupee (INR) in global trade, known as the internationalization of the Indian rupee. As part of this effort, the RBI has announced a Currency Swap Arrangement...
Left-wing New Popular Front coalition leads in French parliamentary run-off vote, early data shows
A woman steps out of a polling booth prior to cast her vote in the first round of parliamentary elections in Le Touquet, northwestern France, on June 30, 2024. Ludovic Marin | Afp | Getty ImagesLONDON — France's left-wing New Popular Front coalition is set to...
Biden faces a ‘vital week’ to convince voters he can beat Trump
Republican presidential candidate former U.S. President Donald Trump and Democratic Party presidential candidate U.S. President Joe Biden speak during a presidential debate in Atlanta, Georgia, U.S., June 27, 2024 in a combination photo.Brian Snyder | ReutersPresident...
Voters go the polls in second round of snap election
Supporters of the French National Rally in Henin-Beaumont, northern France, on June 30, 2024.Francois Lo Presti | Afp | Getty ImagesFrench voters are heading to the polls on Sunday for the second and final round of voting in a snap parliamentary election.After an...
Paytm CEO, BFSI News, ET BFSI
MUMBAI: Paytm founder & CEO Vijay Shekhar Sharma who has been steering the firm through one of its biggest crises following the Reserve Bank of India (RBI)'s restrictions on the fintech's banking unit said the company should have done and understood better."We had...
New UK leader Starmer declares Rwanda deportation plan ‘dead and buried’
British Prime Minister Keir Starmer delivers his speech outside Downing Street 10, following the results of the election, in London, Britain, July 5, 2024. Claudia Greco | ReutersBritain's new Prime Minister Keir Starmer said on Saturday he would scrap a controversial...
Biden ABC interview fails to quell 2024 reelection concerns
President Joe Biden speaks to supporters during a campaign rally at Sherman Middle School on July 05, 2024 in Madison, Wisconsin. Scott Olson | Getty ImagesPresident Joe Biden did not assuage Democratic anxieties about his 2024 reelection bid against former President...
How RBI’s BBPS mandate would impact fintechs and banks, ET BFSI
The Reserve Bank of India (RBI) has issued a directive that all credit card bill payments must be processed through the Bharat Bill Payment System (BBPS) starting July 1, 2024. This significant move aims to enhance the security and oversight of credit card...
US Fed official, ET BFSI
Mumbai, Central banks ought to own up for delivering on price stability and must be given the independence to act for achieving it, a top official from the Federal Reserve Bank of New York said on Friday. In a talk at the Reserve Bank of India (RBI) headquarters, the...
Former HDFC CEO Keki Mistry, ET BFSI
BUDGET 2024: Finance Minister Nirmala Sitharaman is likely to focus on policies around affordable housing in the upcoming Union Budget, former HDFC CEO Keki Mistry told ETNow in an interview recently."I think the focus will be on affordable housing in my opinion and...
RBI launches quarterly survey on order books of manufacturing sector, ET BFSI
Mumbai, The Reserve Bank of India (RBI) on Friday announced the launch of quarterly "order books, inventories and capacity utilisation" survey of companies in the manufacturing sector -- a key input it uses to formulate the monetary policy. The RBI has been conducting...
‘Reformist’ Masoud Pezeshkian elected president
FILE PHOTO: Presidential candidate Masoud Pezeshkian shows the victory sign during a campaign event in Tehran, Iran June 23, 2024.Majid Asgaripour | Via ReutersIran elected Masoud Pezeshkian to its presidency, in an unexpected victory for the country's reformist camp...
US Fed official, ET BFSI
Mumbai, Central banks ought to own up for delivering on price stability and must be given the independence to act for achieving it, a top official from the Federal Reserve Bank of New York said on Friday. In a talk at the Reserve Bank of India (RBI) headquarters, the...
Biden sits for ABC News interview as he weathers Trump debate fallout
U.S. President Joe Biden is welcomed by Air Force Colonel Angela Ochoa (R) as he arrives to board Air Force One at Joint Base Andrews in Maryland on July 5, 2024.Saul Loeb | AFP | Getty ImagesWith his reelection campaign facing an existential crisis, President Joe...
UK’s Starmer appoints Reeves and Rayner to top ministerial team
Labour's shadow chancellor of the exchequer Rachel Reeves.Dan Kitwood | Getty Images News | Getty ImagesBritain's new Prime Minister Keir Starmer began appointing his ministerial team on Friday following a thumping election victory for his Labour Party, naming Rachel...
Putin’s Hungarian ally Orban draws EU ire over ‘peace mission’ to Moscow
Russia's President Vladimir Putin meets with Hungary's Prime Minister Viktor Orban at the Kremlin in Moscow on July 5, 2024. Valery Sharifulin | Afp | Getty ImagesRussia's closest European ally, Hungarian Prime Minister Viktor Orban, has drawn ire from the EU over his...
Israel-Hezbollah war risk rises. Can Iron Dome be overrun?
Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip, as seen from Ashkelon, in southern Israel, October 20, 2023.Amir Cohen | ReutersOn Thursday morning, Hezbollah said it launched 200 rockets into Israel — one of its largest attacks...
RBI’s bumper payout to limit big ticket divestment; govt to maintain Rs 50k cr target: Report, ET BFSI
The record Rs 2.1 lakh crore dividend payout by the Reserve Bank of India will limit the need for big-ticket divestment, a domestic rating agency said on Thursday. Care Ratings said the new government will retain the interim budget's Rs 50,000 crore target on receipts...
Democratic donors say they won’t finance party until he drops out
U.S. President Joe Biden walks to deliver remarks after the U.S. Supreme Court ruled on former U.S. President and Republican presidential candidate Donald Trump's bid for immunity from federal prosecution for 2020 election subversion, at the White House in Washington,...
RBI tells banks to find ways to bridge the gap between credit and deposit growth, ET BFSI
Kolkata/Mumbai: The Reserve Bank of India has told banks to find ways to bridge the gap between credit and deposit growth and reduce credit-deposit ratio, raising concerns over the persistent higher credit growth than deposit mobilisation which could pose a risk in...
RBI guv Das asks banks to strengthen governance, risk management, ET BFSI
Mumbai, RBI governor Shaktikanta Das on Wednesday asked banks to further strengthen the governance standards, risk management practices and compliance culture. As part of the Reserve Bank's continuous engagement with the senior management of its regulated entities,...
What are new Sebi rules for brokers to stop market abuse, BFSI News, ET BFSI
NEW DELHI: The Securities and Exchange Board of India (Sebi) has notified a new institutional mechanism that mandates stock brokers to implement systems for identifying and preventing market abuse including misleading appearance of trading, price manipulation, front...
Biden tries to calm Democrats as 2024 drop-out pressure mounts
President Joe Biden and his White House staff spent Wednesday delivering pep talks in calls and meetings with close allies, Democratic governors, legislators and campaign staff."Let me say this as clearly as I possibly can, as simply and straightforward as I can: I am...
Biden tells ally he’s weighing whether to stay in race: Reports
U.S. President Joe Biden reacts, as he meets with Iraqi Prime Minister Mohammed Shia al-Sudani (not pictured) in the Oval Office at the White House in Washington, U.S., April 15, 2024. Elizabeth Frantz | ReutersPresident Joe Biden has told a key ally that his...
Kamala Harris’ allies strategize in case Biden drops out
Vice President Kamala Harris' allies are privately discussing what her candidacy would look like if President Joe Biden dropped out of the race for the White House, and how they could help her, following Biden's disastrous debate performance on Thursday, according to...
U.S. adds six companies to trade restriction list, four for training China’s military
The United States added six companies to its trade restriction list on Tuesday, including four for their links to the training of China's military forces, according to a government posting.Johannes Eisele | AFP | Getty ImagesThe United States added six companies to...
Fed bank oversight powers grow more uncertain in wake of court action, ET BFSI
By Michael S. Derby- A Supreme Court case upending how government regulators do their work thrusts Federal Reserve bank overseers into extended uncertainty and potential risk, although the ruling should not complicate the central bank's ability to provide support to...
Sebi sends Hindenburg notice on Adani report ‘manipulation’, BFSI News, ET BFSI
MUMBAI: Sebi has issued a show-cause notice to Hindenburg, asking why it should not act against the short-seller for violating norms related to the "prohibition of fraudulent and unfair trading practices in the securities market".The notice, dated June 26, was...
Biden revoked 8 licenses for China’s Huawei in 2024, document shows
The Biden administration has revoked eight licenses this year that had allowed some companies to ship goods to Chinese telecoms equipment giant Huawei, according to a document first reported by Reuters, as it seeks to pressure the resurgent company.Marko Djurica |...
Trump Media announces $105 million raised from DJT warrants
Omar Marques | Lightrocket | Getty ImagesShares of Trump Media dipped at the opening bell Tuesday after the company, whose majority owner is former President Donald Trump, said it collected more than $105 million through the cash exercise of warrants.The proceeds came...
Nancy Pelosi, Jim Clyburn say Biden age concerns are legitimate
US Democratic Representative from California Nancy Pelosi speaks during the anniversary of the Inflation Reduction Act (IRA) Event at the White House in Washington D.C., United States on August 16, 2023.Celel Gunes | Anadolu Agency | Getty ImagesFormer Democratic...
First House Democrat urges Biden to withdraw from presidential race
Rep. Lloyd Doggett of Texas urged President Joe Biden on Tuesday to "make the painful and difficult decision to withdraw" from the 2024 presidential race.Doggett, 77, is the first sitting Democratic lawmaker to formally call on his own party's incumbent to drop his...
Biden campaign reports raising $127 million in June
U.S. President Joe Biden delivers remarks after the U.S. Supreme Court ruled on former U.S. President and Republican presidential candidate Donald Trump's bid for immunity from federal prosecution for 2020 election subversion, at the White House in Washington, U.S.,...
Former Trump lawyer Rudy Giuliani disbarred in New York
Former New York Mayor Rudy Giuliani departs the U.S. District Courthouse after he was ordered to pay $148 million in his defamation case in Washington, U.S., December 15, 2023.Bonnie Cash | ReutersRudy Giuliani's New York law license was revoked on Tuesday amid...
Trump hush money prosecutors won’t fight ex-president’s bid to delay sentencing
Former US President Donald Trump comments as he 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.Justin Lane | Via ReutersManhattan prosecutors...
Macron made key mistakes, vilified the left
Protesters gather during an anti-far-right rally after French President Emmanuel Macron called legislative elections following far-right parties' significant gains in European Parliament elections in Paris on June 15, 2024.Lou Benoist | Afp | Getty ImagesFrench...
Biden administration proposes rule for workplaces to address excessive heat
An agricultural worker takes a water break while enduring high temperatures in a tomato field, as a heat wave affects the region near Winters, California, July 13, 2023.Loren Elliott | ReutersThe Biden administration proposed a new rule Tuesday to address excessive...
RBI proposes draft guidelines to simplify export-import regulations under FEMA, ET BFSI
The Reserve Bank of India (RBI) has unveiled draft guidelines aimed at simplifying export and import regulations under the Foreign Exchange Management Act (FEMA), inviting public feedback until September 1, 2024. These guidelines are part of the Statement on...
Hungary’s Prime Minister Orban makes first wartime visit to Ukraine
Hungarian Prime Minister Viktor Orban (L) talks with Ukrainian President Volodymyr Zelenskyy (R) in the Europa building prior the start of the meeting on June 27, 2024, in Brussels, Belgium.Thierry Monasse | Getty Images News | Getty ImagesHungarian Prime Minister...
Supreme Court dissenters take a ‘darker’ tone on Trump immunity ruling
Supreme Court Justice Sonia Sotomayor and Supreme Court Justice Ketanji Brown Jackson.Jacquelyn Martin | Pool | Getty ImagesSupreme Court Justices Sonia Sotomayor, Ketanji Brown Jackson and Elena Kagan laid out grim visions of U.S. democracy in their joint written...
Donald Trump, crypto take aim at SEC as Biden allies raise alarms
Former U.S. President and Republican presidential candidate Donald Trump looks on during his campaign event, in Racine, Wisconsin, U.S. June 18, 2024. Brendan Mcdermid | ReutersOn a cool, sunny June evening in San Francisco, the Pacific Heights mansion of venture...
Trump immunity ruling hands big decisions to Judge Tanya Chutkan
A general view of the U.S. Supreme Court as justices issue rulings in pending cases on the final day of the court's term in Washington, U.S., July 1, 2024. Leah Millis | ReutersThe U.S. Supreme Court's presidential immunity ruling on Monday sends the federal case...
Hunter Biden sues Fox News over ‘mock trial’ miniseries
Hunter Biden (R), son of US President Joe Biden, exits the J. Caleb Boggs Federal Building on June 10, 2024 in Wilmington, Delaware. Jury deliberations began on Monday in Hunter Biden's trial on federal gun charges, US media reported. Ryan Collerd | AFP | Getty...
Former Trump aide Steve Bannon reports to jail
Steve Bannon, former top adviser to Donald Trump, greets supporters as he arrives to speak with media before he reports to prison at the U.S. federal correctional institution in Danbury, Connecticut, U.S., July 1, 2024. Eduardo Munoz | ReutersSteve Bannon, a former...
Democrats ask Raimondo for more oversight on CHIPS funding
U.S. Secretary of Commerce Gina Raimondo testifies during the House Science, Space and Technology Committee hearing titled "Chips on the Table: A one year review of the CHIPS and Science Act," in the Rayburn Building in Washington, D.C., on Sept. 19, 2023.Tom Williams...
RBI appoints Charulatha S Kar as new Executive Director, ET BFSI
The Reserve Bank of India (RBI) has appointed Charulatha S Kar as its new Executive Director (ED), effective July 1, 2024.Before her promotion to ED, Kar served as the Chief General Manager-in-Charge of the Human Resource Management Department.With over three decades...
RBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has reported that 97.87% of the Rs.2000 denomination banknotes in circulation as of May 19, 2023, have been returned. “The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19,...
RBI appoints Arnab Kumar Chowdhury as new Executive Director, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Monday has announced the appointment of Arnab Kumar Chowdhury as its new Executive Director (ED), effective June 3, 2024.Before his promotion to ED, Chowdhury served as the Chief General Manager-in-Charge in the Department of...
What is the latest interest rate, when will you get it?, ET BFSI
Fixed-income investors are in for a treat as the high interest rate of RBI Floating Rate Savings Bond (FRSBs), 2020 (Taxable) is going to continue for the July-December period of 2024. The interest rate of the RBI Floating Rate Savings Bond is linked to the interest...
India’s GST kitty remains central focus; a look at overall collection, ET BFSI
India’s Goods and Services Tax (GST) has remained a central focus in India’s economic discussions and this time around as well, finance minister Nirmala Sitharaman is expected to take the GST figures into consideration before presenting her upcoming Budget in July....
Trump immunity ruling due in Supreme Court’s final decision day
Republican presidential candidate, former U.S. President Donald Trump speaks at a campaign rally at the Liacouras Center on June 22, 2024 in Philadelphia, Pennsylvania. Anna Moneymaker | Getty ImagesThe Supreme Court is poised Monday morning to release the final...
RBI and ASEAN central banks team up for faster cross-border payments, ET BFSI
The Reserve Bank of India (RBI) has announced its participation in a collaborative effort with ASEAN countries to create a platform that will facilitate instantaneous cross-border retail payments. This initiative is part of Project Nexus, a global endeavor led by the...
Incomplete transmission could delay rate reversal by RBI, BFSI News, ET BFSI
Apart from high food inflation, incomplete transmission of the 250 basis point policy rate hikes since May 2022 could delay reversal of the rate cycle by the Reserve Bank of India (RBI). Transmission through loan and deposit rates ranged between 111 and 245 bps until...
After France’s right-wing surge, parties scramble to block National Rally win
A person from behind looks at the campaign posters of outgoing deputy Danielle Simonnet (20th arrondissement of Paris, 15th constituency), member of the parliamentary group La France Insoumise (LFI NUPES, left-wing opposition), dissident candidate (part of the LFI...
Why central banks are moving gold to home countries and buying more, ET BFSI
Central banks worldwide are significantly increasing their gold reserves in response to escalating geopolitical tensions and economic uncertainties, a World Gold Council study reveals. This trend reflects the critical role of gold in ensuring financial stability and...
Incomplete transmission could delay rate reversal by RBI, BFSI News, ET BFSI
Mumbai: Apart from high food inflation, incomplete transmission of the 250 basis point policy rate hikes since May 2022 could delay reversal of the rate cycle by the Reserve Bank of India (RBI). Transmission through loan and deposit rates ranged between 111 and 245...
Indian economy poised for potentially stable high growth phase, says RBI’s monetary policy panel member, ET BFSI
Indian economy is poised for potentially a stable high growth phase and it is also in a strong position in the context of significant risks that the country is facing, RBI's monetary policy committee member Shashanka Bhide said on Sunday. Bhide further said with the...
CM Naidu to raise budget-specific demands in meeting with PM, FM, ET BFSI
Andhra Pradesh chief minister N Chandrababu Naidu, a key ally of BJP-led NDA, is likely to meet Prime Minister Narendra Modi and finance minister Nirmala Sitharaman this week to raise budget-specific demands for the state.Naidu is likely to discuss his expectations...
French exit polls point to National Rally leading in first vote round
French President Emmanuel Macron looks on after delivering a speech to the Nexus Institute in the Amare theatre in The Hague on April 11, 2023 as part of a state visit to the Netherlands.Ludovic Marin | AFP | Getty ImagesThe first round of a snap parliamentary...
Democrats defend Biden after debate flop as voter support flinches
Democrat candidate, U.S. President Joe Biden, and Republican candidate, former U.S. President Donald Trump, attend a presidential debate in Atlanta, Georgia, U.S., June 27, 2024. Brian Snyder | ReutersDemocrats are making the rounds on the Sunday media circuit working...
Biden campaign fundraises $27 million after first debate
US President Joe Biden speaks at the Stonewall National Monument Visitor Center grand opening ceremony in New York on June 28, 2024. Mandel Ngan | Afp | Getty ImagesThe Biden campaign has raised $27 million starting from the day of the first presidential debate...
Obama, Clinton excuse Biden’s debate performance against Trump
Former US President Barack Obama (L) and former US President Bill Clinton (R) cheer for US President Joe Biden during a campaign fundraising event at Radio City Music Hall in New York City on March 28, 2024. Brendan Smialowski | Afp | Getty ImagesFormer Presidents...
RBI says pandemic period household savings declining, need close monitoring, ET BFSI
With overall household savings declining to 18.4 per cent of GDP in FY:2022-23 from an average of 20.0 per cent of GDP over 2013-2022, and coupled with an increasing trend in financial liabilities, household debt warrants close monitoring from a financial stability...
RBI Guv Shaktikanta Das emphasises on need to eliminate biases in algorithms, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das on Friday said that the central bank is focusing on enhancing capacity in artificial intelligence (AI) and machine learning (ML) techniques and analysing unstructured textual data by using the cutting edge...
New York Times editorial board urges Biden to drop out of presidential race
U.S. President Joe Biden pauses during the CNN Presidential Debate at the CNN Studios on June 27, 2024 in Atlanta, Georgia. President Biden and Republican presidential candidate, former U.S. President Donald Trump are facing off in the first presidential debate of the...
Sebi plans to cut red tape for global funds buying its bonds, BFSI News, ET BFSI
India’s capital markets regulator is working to reduce paperwork for foreign investors buying only sovereign debt, according to a person with knowledge of the matter, as the country debuts on international bond indexes.The Securities and Exchange Board of India is...
Trump aide Steve Bannon must go to jail
Former White House Chief Strategist Stephen Bannon gestures as he speaks to members of the media while leaving the federal courthouse after a judge ordered him to surrender by July 1 to begin serving his four-month prison term, Washington, U.S., June 6, 2024. Nathan...
Biden debate sparks Democratic nominee replacement talk
U.S. President Joe Biden attends the first presidential debate hosted by CNN in Atlanta, Georgia, U.S., June 27, 2024. Marco Bello | ReutersPresident Joe Biden's raspy, unfocused, often inarticulate and widely panned debate performance stoked deep anxiety among...
Supreme Court ruling pleases Republicans, businesses
Birds fly outside the U.S. Supreme Court on the day justices issue orders in pending appeals in Washington, U.S., June 24, 2024. Nathan Howard | ReutersRepublican lawmakers and the U.S. Chamber of Commerce praised the Supreme Court decision Friday overturning the...
China is testing the limits of U.S.-Philippines defense pact
An aerial view shows a Philippines Navy vessel that has been grounded since 1999 to assert the nation's sovereignty over the Second Thomas Shoal, a remote South China Sea reef also claimed by China.Jay Directo | Afp | Getty ImagesChina has stepped up its aggression...
Govt’s gross liabilities rise by 3.4 pc to Rs 171.78 lakh crore at March-end: Finance Ministry, ET BFSI
New Delhi, Total gross liabilities of the government increased to Rs 171.78 lakh crore at the end of March 2024 from Rs 166.14 lakh crore at December-end, the finance ministry has said. This represented a quarter-on-quarter increase of 3.4 per cent in the fourth...
DJT shares rise after Biden stumbles in Trump debate
Republican candidate, former U.S. President Donald Trump, speaks as he attends a presidential debate with Democrat candidate, U.S. President Joe Biden, in Atlanta, Georgia, U.S., June 27, 2024. Brian Snyder | ReutersThe stock price of Trump Media soared more than 11%...
Outcomes of FATF’s mutual evaluation to boost global penetration of UPI: FinMin, ET BFSI
Outcomes of FATF’s mutual evaluation to boost global penetration of UPI: FinMinIn a big push for India towards its economic growth journey, the Mutual Evaluation conducted during 2023-24 by Financial Action Task Force (FATF) has placed the country in the ‘regular...
Iran votes in presidential election amid economic strife, regional war, crackdowns
Iranian women cast their ballots at a polling station during elections to select members of parliament and a key clerical body, in Tehran on March 1, 2024.ATTA KENARE | AFPIran is voting for its next president Friday in a snap election following the unexpected death...
Highest default in personal loans recorded in education, lowest in housing: RBI, ET BFSI
Highest default in personal loans recorded in education, lowest in housing: RBI The Non-performing assets (NPA) are on a rise in the personal loan space as the recent data from the Reserve Bank of India (RBI) highlighted that the highest default was in the education...
How the global media reacted to the presidential debate
Members of the media work during the first presidential debate with US President Joe Biden and former US President Donald Trump in Atlanta, Georgia, US, on Thursday, June 27, 2024.Eva Marie Uzcategui | Bloomberg | Getty ImagesChina: 'Starkly different visions' of...
Specter of Putin casts a shadow over the Trump-Biden debate
Russia's President Vladimir Putin attends a concert at the Hanoi Opera House in Hanoi on June 20, 2024.Gavriil Grigorov | Afp | Getty ImagesThere appeared to be an additional presence on stage with Democratic U.S. President Joe Biden and Republican former President...
Biden, Democratic fundraisers sound alarm on debate
Many of the Democratic Party's top fundraisers are privately sounding the alarm after President Joe Biden's disappointing debate performance Thursday against Republican former President Donald Trump."Disaster," said a Biden donor who plans to attend a fundraiser with...
RBI expresses concern over credit growth, says expansion of above 18% may create risk, ET BFSI
Voicing concerns yet again, the Reserve Bank of India on Thursday said that credit expansion in excess of 18% could put the financial system to the test given the widening gap between credit and deposit growth. The central bank has been advising banks to review...
Full recap of 2024 presidential debate between Biden and Trump
Biden on his debate performance: 'I think we did well'Democrat candidate, U.S. President Joe Biden, embraces first lady Dr. Jill Biden after the conclusion of a presidential debate with Republican candidate, former U.S. President Donald Trump, in Atlanta, Georgia,...
Climate moves up in domestic high risk category, says RBI’s Financial Stability Report, ET BFSI
In case of domestic risks, climate risk has moved up within the ‘high’ risk category and risk to consumption demand inched up, according to the Reserve Bank of India's systemic risk survey conducted in May 2024.Other key risks (viz., domestic inflation, current...
Financial sector strong but RBI watchful of emerging risks, says RBI Governor Das, ET BFSI
Indian financial institutions have strong balance sheets, low levels of impairments and strong capital buffers, but the Reserve Bank of India (RBI) remains watchful of the emerging risks, including those from cyber hazards, climate change and global spillovers,...
EU leaders pick von der Leyen for second term as Commission chief
European Commission President Ursula von der Leyen speaks during a press conference, Nurphoto | Getty ImagesEuropean Union leaders agreed to nominate Ursula von der Leyen of Germany for a second five-year term as president of the European Commission, the EU's powerful...
Trump will debate Biden while under gag orders. What he can’t say
President Joe Biden and former President Donald Trump 2024.Kevin Lamarque | Jay Paul | ReutersWhen he faces President Joe Biden in Thursday's debate, former President Donald Trump will have to watch his tongue.Trump is still bound by multiple court-imposed gag orders...
Sebi approves norms to regulate finfluencers, bars REs association with them, ET BFSI
Securities and Exchange Board of India (Sebi) on Thursday approved norms to regulate misinformation through financial influencers or finfluencers by restricting association of its regulated entities with any unregistered person.In its board meeting the market...
RBI announces SAARC Currency Swap Framework for period 2024 to 2027, ET BFSI
The Reserve Bank of India announced on Thursday its updated Framework on Currency Swap Arrangement for SAARC countries for the period 2024 to 2027, in concurrence with the Government of India.Under this Framework, the Reserve Bank will enter bilateral swap agreements...
Financial stability matrix at best, assign highest priority to governance: Das, ET BFSI
Mumbai, With studies showing gains in asset quality and resilience to withstand stress scenarios, Reserve Bank Governor Shaktikanta Das on Thursday asked financial system stakeholders to assign "highest priority" to governance. "The highest priority must be assigned...
Trump Media closes up nearly 8%, continuing post-sell-off rally
A smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesShares of Trump Media & Technology Group closed up nearly 8% on Wednesday, adding to the stock's post-sell-off rally.The stock initially sank more than...
“India is at the threshold of a major structural shift in its growth trajectory:” RBI Governor Shaktikanta Das at 188th AGM of Bombay Chamber, ET BFSI
VMPLMumbai (Maharashtra) [India], June 26: India is at the threshold of a major structural shift in its growth trajectory, moving towards 8 percent GDP growth in a sustained manner, said RBI Governor Shaktikanta Das. He was speaking at the 188th AGM of Bombay Chamber...
Biden Cabinet unveils new plans to lower prices before Trump debate
U.S. President Joe Biden delivers remarks alongside Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo during a Cabinet Meeting at the White House on June 06, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesPresident Joe Biden's Cabinet will wrap...
Troops disperse as Bolivia arrests leader of coup attempt
Bolivian forces have arrested the general accused of attempting a coup against the country's government on Wednesday, crowning an hours-long overture by armed soldiers who stormed the national palace.In breakneck developments over a handful of hours, video footage...
How the govt may spend Rs 2.11 lakh crore RBI dividend windfall, ET BFSI
In the upcoming Budget, the central government may largely retain its tax and non-debt capital receipt (including disinvestment) projections as presented during the Interim Budget in February 2024."If so, a transfer of Rs 2.11 lakh crore by the RBI implies excess...
New RBI norms leave currency derivatives market with a large number of dollar buyers than sellers, ET BFSI
India's exchange-traded currency derivative market has undergone significant changes following the implementation of new regulatory norms, which have pushed out speculators and mandated that each deal in currency futures and options is based on a genuine, documented...
An Israel-Hezbollah war would be devastating to both sides
Black smoke billows following an Israeli air strike that targeted a house in the southern Lebanese village of Khiam near the Lebanese-Israeli border on June 21, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters.Rabih Daher | AFP |...
Crypto super PAC notches wins in House, Senate races
Ripple cryptocurrency is seen in this illustration photo taken in Krakow, Poland on June 4, 2021. (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images)Jakub Porzycki | Nurphoto | Getty ImagesWASHINGTON — A super PAC bankrolled by top crypto companies...
India central bank policymakers divided over rate-growth debate, ET BFSI
A consensus appears to be emerging among the external members of the Reserve Bank of India’s monetary policy committee that high interest rates are damaging to economic growth, a sign that the debate over the timing of any easing is intensifying. Jayanth Rama Varma...
RBI governor Das, ET BFSI
MUMBAI: RBI governor Shaktikanta Das said that the country is at the threshold of a major structural shift in its growth trajectory and is moving towards an annual growth of 8% in a sustained manner. He said that such a growth outlook gives RBI the space to...
RBI governor Das, ET BFSI
MUMBAI: RBI governor Shaktikanta Das said that the country is at the threshold of a major structural shift in its growth trajectory and is moving towards an annual growth of 8% in a sustained manner. He said that such a growth outlook gives RBI the space to...
Trump classified documents case: Prosecutors release new photos
Documents and materials seized during a search of former U.S. President Donald Trump’s Mar-a-Lago home and social club are pictured in this undated handout picture obtained by Reuters on June 25, 2024.U.s. Justice Department | Via ReutersFederal prosecutors in Donald...
Nobel prize-winning economists warn Trump would ‘reignite’ inflation
Joseph StiglitzCameron Costa | CNBCSixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation."While each of us has...
Trump gag order partially lifted in hush money case ahead of first presidential debate
Former U.S. President Donald Trump walks to speak to the media after being found guilty following his hush money trial at Manhattan Criminal Court in New York City on May 30, 2024.Seth Wenig | Afp | Getty ImagesA New York judge on Tuesday lifted parts of a gag order...
Trump Media stock rises off guilty verdict sell off
Sopa Images | Lightrocket | Getty ImagesShares of Trump Media shot up as much as 11% as markets opened Tuesday, clawing back more of the Truth Social maker's losses that followed former President Donald Trump's criminal conviction in New York.The upward swing movement...
Pictures show police clashing with protesters
Photographs and news agency reports showed protesters clashing in the streets of Kenyan capital Nairobi on Tuesday, as the African state passed a controversial finance bill set to raise national taxes.Earlier in the day, the Kenyan parliament announced it had passed a...
Amid outflow fears, RBI reviews LCR by carrying out special audits with banks, ET BFSI
The Reserve Bank of India has recently carried out special audits with banks to check whether they are holding the appropriate securities to qualify for liquidity coverage ratio, a move that comes at a time when the central bank has expressed concern over sudden...
Reps. Ronny Jackson, Wesley Hunt probed on campaign cash for club dues
From left, Reps. Monica De La Cruz, R-Texas, Wesley Hunt, R-Texas, Ronny Jackson, R-Texas, and Dan Crenshaw, R-Texas, display Texas temporary tattoos to mark Texas Independence Day, which in on March 2nd, on the house steps of the U.S. Capitol after the last votes of...
Time to reset the 4% inflation target?, BFSI News, ET BFSI
Views expressed in the latest rate-setting meeting of RBI include those who feel the repo rate is high and needs to be cut. Two external members of the six-member Monetary Policy Committee (MPC) made a strong pitch for cutting the rate, held at 6.5% since February...
Yellen announces new housing fund amid sticky shelter inflation
A maintenance worker sweeps the street in front of a row of new homes in Fairfax, Virginia, on August 22, 2023. Andrew Caballero-Reynolds | AFP | Getty ImagesTreasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing...
Trump Media stock jumps, reversing weekslong decline in DJT share price
The Truth social network logo is seen in this photo illustration on 04 December, 2023 in Warsaw, Poland. Jaap Arriens | Nurphoto | Getty ImagesShares of Trump Media soared 15% at the market's open on Monday, as the firm majority-owned by former President Donald Trump...
RBI urges banks to address credit gaps for underserved sectors, ET BFSI
India's progress in providing banking access across the country notwithstanding, the micro and small business units, marginal farmers and self-help group members still suffer from unavailability of institutional credit, while grassroot customers do not get...
RBI’s overseas gold reserves drop to 6-year low! Share of gold held at home goes up to 53%, ET BFSI
The Reserve Bank of India's gold reserves stored overseas dropped to 47% of the total by the end of March, the lowest level since December 2017. The RBI began getting gold to India in March 2022, in the wake of the Russia-Ukraine war, a move reflective of global...
Some Indian rate panelists see growth risks from tight policy, ET BFSI
By Swati BhatMUMBAI, - India's economy needs an interest rate cut to sustain high growth, two external members of the central bank's rate panel said, arguing that food price shocks so far have not added to broader inflationary pressures.Ashima Goyal and Jayanth Varma,...
Israel’s Netanyahu signals ‘intense’ stage of Gaza fighting close to end
A boy carries salvaged items from the rubble of a building destroyed during Israeli bombardment at al-Shati refugee camp in Gaza City on June 22, 2024, amid the ongoing conflict between Israel and Palestinian militant group Hamas.Omar Al-qattaa | Afp | Getty...
BOE leaves rate-cut hopes alive, BFSI News, ET BFSI
(Bloomberg) --The Bank of England hinted that more officials may be close to backing interest-rate cuts, keeping alive hopes of a policy easing by the end of the summer.The UK central bank this week kept its benchmark lending rate at a 16-year high of 5.25%. But...
Real rate of interest at 1.5 pc apt for economy: Shashanka Bhide, ET BFSI
A real interest rate of around 1.5% and inflation dipping closer to the Monetary Policy Committee's 4% target would be desirable for the Indian economy, Shashanka Bhide, an external member of the rate-setting panel, told Bhaskar Dutta. Edited excerpts:What is your...
Trump previews debate attacks on Biden’s economy
Former U.S. President and Republican presidential candidate Donald Trump speaks during his campaign event, in Racine, Wisconsin, U.S. June 18, 2024. Brendan Mcdermid | ReutersFormer President Donald Trump on Saturday gave a brief glimpse of the ammunition he is...
RBI to ease compliance burden while fine tuning regulations to address evolving risks, ET BFSI
The Reserve Bank of India has decided to reduce the compliance burden to make life easier for the financial services entities while it is finetuning the regulatory and supervisory framework to make them ready to face evolving challenges.In parallel, the central bank...
Israeli strikes kill at least 42 in Gaza, Hamas-run media office says
A view of a street filled with rubbles of destroyed buildings following the Israeli attacks on Al-Shati refugee camp in Gaza City, Gaza on June 22, 2024. It was reported that there were dead and wounded in the attacks, including children. Anadolu | Anadolu | Getty...
How macroeconomic indicators performed in May 2024?, ET BFSI
Despite the global economic slowdown, India has achieved remarkable growth figures.Recently, the World Bank affirmed India's position as the fastest-growing among major economies and upgraded India's growth estimates by 20 basis points to 6.6 percent in June.The...
Industry bodies’ ask for MSMEs from Budget 2024, ET BFSI
Industry bodies ask for MSMEs from Budget 2024At the pre-budget meeting with the Finance Minister Nirmala Sitharaman, the industry bodies have laid down their recommendations for the Micro, Small, and Medium Enterprises (MSME) sector apart from the other areas....
RBI revises its incentive framework to push banks to increase the flow of priority sector credit, ET BFSI
Kolkata: The Reserve Bank of India has revised its incentive framework to push banks to increase the flow of priority sector credit to districts with lower credit flow in order to address the regional disparities at the district level.Accordingly, the central bank has...
Final guidelines on project loan norms will “suitably reflect” industry concerns: RBI ED, ET BFSI
Mumbai, The final guidelines on project loans will "suitably reflect" the industry's concerns on the subject, a senior Reserve Bank official said on Friday. Acknowledging that the central bank is in receipt of the feedback to the draft guidelines issued on May 24, RBI...
Reserve Bank of India announces URL change for ‘Database on Indian Economy’ portal, ET BFSI
Mumbai (Maharashtra) [India], June 21 (ANI): The Reserve Bank of India (RBI) has announced an update to its 'Database on Indian Economy' (DBIE) portal, effective from the close of business today.According to RBI press release, the domain address for accessing the DBIE...
Real repo rate too high and could hurt growth, said MPC dissenters, ET BFSI
The two external members of the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) who had pushed for a 25 basis point rate cut at the June 7 meeting, Ashima Goyal and JR Varma, said the real repo rate at 2% was too high and could hurt growth, according to...
RBI to ease compliance burden while fine tuning regulations to address evolving risks, ET BFSI
The Reserve Bank of India has decided to reduce the compliance burden to make life easier for the financial services entities while it is finetuning the regulatory and supervisory framework to make them ready to face evolving challenges.In parallel, the central bank...
Sebi disposes of proceedings against former Unitech promoters, ET BFSI
Market regulator Sebi on Friday disposed of its investigation against Unitech's erstwhile promoters Sanjay Chandra and Ajay Chandra in a case pertaining to the alleged routing of funds to the Indian securities market using overseas bank accounts as it found no...
Trump Media free fall continues, as DJT stock slides 6%
Pavlo Gonchar | Lightrocket | Getty ImagesStock Chart IconStock chart iconTrump Media & Technology Group Corp. Stock PriceTrump Media's stock price has whipsawed since its public debut as retail investors and short sellers bought and sold the company tied to the...
India cenbank’s rate panel views diverge further amid fears of growth sacrifice, ET BFSI
By Swati BhatMUMBAI - The Reserve Bank of India's rate panel has diverged further in its views on the need for high interest rates to tame inflation, with some fearing economic growth is being sacrificed, minutes of the latest monetary policy meeting released on...
Russia open to security talks with U.S. if Ukraine on table: Kremlin
Kremlin spokesman Dmitry Peskov attends Russian-Kyrgyz talks in Bishkek, Kyrgyzstan October 12, 2023.Vladimir Pirogov | ReutersRussia is open to "comprehensive" security talks with the U.S., so long as they include the war in Ukraine, Kremlin spokesperson Dmitry...
U.S. and China hold first informal nuclear talks in 5 years: Reuters
The United States and China resumed semi-official nuclear arms talks in March for the first time in five years, with Beijing's representatives telling U.S. counterparts that they would not resort to atomic threats over Taiwan, according to two American delegates who...
Industry bodies’ ask from Budget 2024, ET BFSI
Finance Minister chairs Pre-Budget Consultation with industry leaders and associationsThe Industry bodies on Thursday met the Union Finance Minister Nirmala Sitharaman and presented to her their thoughts and opinions on the upcoming Budget. In this regards, the PHD...
Biden reelection effort raises $85 million in May, but trails Trump’s massive haul
U.S. President Joe Biden departs the White House in Washington, U.S., for a campaign fundraiser in California, May 9, 2024. Craig Hudson | ReutersPresident Joe Biden's reelection effort and the Democratic National Committee raised a combined $85 million in May,...
RBI governor Shaktikanta Das to banks, ET BFSI
MUMBAI: RBI governor Shaktikanta Das has urged banks to avoid the "mindless pursuit of bottom line". He pointed out that some profit-driven business models may contain hidden vulnerabilities, emphasising that profitability should not come at the expense of managing...
Melinda French Gates endorses Joe Biden for president
Melinda French Gates arrives at Elysee Palace for the Generation Equality Forum hosted by French President Emmanuel Macron on July 01, 2021 in Paris, France.Aurelien Meunier | Getty Images News | Getty ImagesMelinda French Gates, a philanthropist and the former wife...
Central banks plan to boost gold reserves despite record highs, ET BFSI
Nearly 30 percent of 70 central banks surveyed plan to add to their gold reserves within the next year, according to a World Gold Council (WGC) survey.The WGC noted that despite two consecutive years of record central bank gold purchases and the metal reaching new...
DJT Trump Media stock price down 10% in premarket trading
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesA sell-off of Trump Media is poised to pick up...
Dutch PM Mark Rutte set to be next NATO leader
Netherland's Prime Minister Mark Rutte arrives to attend the European Political Community summit at the Palacio de Congreso in Granada, southern Spain on October 5, 2023.Jorge Guerrero | Afp | Getty ImagesRomanian President Klaus Iohannis on Thursday rescinded his bid...
Banks, NBFCs should refrain from taking ‘unacceptable risks’: RBI Governor, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das, on Thursday said that the banks and non-banking finance companies (NBFCs) should not take “unacceptable risks” in the pursuit of growth and they must have robust risk mitigation frameworks.“While business...
Hezbollah leader warns Israel of war with ‘no red lines,’ threatens Cyprus
The leader of Hezbollah has vowed a fight with "no rules and with no red lines" if full-our war erupts between the Lebanese militant group and Israel, warning neighboring Cyprus against getting mired in the conflict.Lebanon and Israel have regularly traded...
Economists suggest continuing capital expenditure, controlling fiscal deficit during pre-budget meeting with Sitharaman, ET BFSI
New Delhi [India], June 19 (ANI): Finance Minister Nirmala Sitharaman chaired the first pre-budget meeting with leading economists in Delhi on Wednesday as part of pre-budget consultations for the General Budget 2024-25.The discussions focused on critical issues such...
RBI monthly bulletin, ET BFSI
New Delhi [India], June 19 (ANI): The prospects for Indian agriculture are brightening with the early landfall of the southwest monsoon, according to the monthly bulletin released by the Reserve Bank of India (RBI) on Wednesday.The RBI highlighted that the early...
RBI bought gold sold securities in April, ET BFSI
The Reserve Bank bought almost six tonnes of gold and likely sold $ 7 billion worth US treasury securities this April in what seems to be its strategy of diversifying its forex reserves management.The value of India’s – essentially the Reserve Bank of India’s – US...
Goal of aligning inflation to 4 pc target work in progress: RBI Bulletin, ET BFSI
Mumbai, The goal of aligning inflation with the target of 4 per cent remains a work in progress as long as food price pressures persist, the RBI's latest Bulletin said on Wednesday. An article on the "State of the Economy", published in the June 2024 Bulletin, also...
Retail investors play with a time bomb but RBI and Sebi are watching, ET BFSI
Legendary investor Warren Buffett, called the Oracle of Omaha for his instinct to predict market trends, had issued a warning about derivatives more than two decades ago in one of his popular annual letters to the shareholders of his company Berkshire Hathaway: "We...
Elevated food prices putting pressure on inflation, hot summer to affect crops: RBI, ET BFSI
Elevated food prices putting pressure on inflation, hot summer to affect crops: RBI The Reserve Bank of India (RBI) in its June Bulletin said that the retail inflation is gradually easing, but volatile and elevated food prices are interrupting the path of...
RBI to stand out amongst central banks in Asia with no rate cuts: Morgan Stanley, ET BFSI
A latest report by Morgan Stanley highlighted that it expects RBI to stand out among its other central bank peers in Asia, with no rate cuts, on the back of strong growth and moderating inflation. Unlike most central banks in Asia, we don’t expect the RBI to cut...
How RBI’s bulk deposit threshold revision may play out, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) recent decision to revise the bulk deposit threshold for commercial banks from Rs 2 crore to Rs 3 crore marks a significant step towards addressing the growing divergence between credit and deposit growth. This move is aimed at...
Trump Media shares plunge 17% as more DJT shares to dilute
Omar Marques | Lightrocket | Getty ImagesThe stock price of Trump Media plunged by more than 17% in after-hours trading Tuesday after the Truth Social app owner said its registration of additional shares had been declared effective by the Securities and Exchange...
RBI Deputy Governor, ET BFSI
India’s deposit insurer Deposit Insurance and Credit Guarantee Corporation (DICGC) is way behind its overseas counterparts in processing reimbursements of insured deposits, Reserve Bank of India (RBI) deputy governor Michael Patra has said.DICGC takes about a month or...
Israel warns Lebanon of prospect of ‘all-out war’ as U.S. seeks to de-escalate hostilities
TOPSHOT - Smoke billows from the site of an Israeli airstrike on Zibqin in southern Lebanon on June 12, 2024.Kawnat Haju | Afp | Getty ImagesIsrael's army approved an offensive against Lebanon after a spike in cross-border fire, as talk of "all-out war" stoked...
Sebi invites application to hire executive director, BFSI News, ET BFSI
New Delhi, Capital markets watchdog Sebi has started the process to recruit an executive director and invited applications to fill the vacancy. The Securities and Exchange Board of India (Sebi) has invited applications for the post until July 18. The appointment of...
Sebi plans to introduce some changes to address option trading risks: Report, ET BFSI
The Securities and Exchange Board of India (Sebi), in an attempt to address risks emerging from the rapid expansion of options trading, is reportedly mulling over some modifications to its derivative trading regulations, news agency Reuters reported citing two sources...
Fugitive ex-CEO arrested on investor fraud charges
Hercules Investments CEO and CIO James McDonald.CNBCA former investment company CEO who previously appeared as a paid contributor to CNBC was arrested on fraud charges after more than two years as a fugitive from a Securities and Exchange Commission investigation,...
Too premature to shift RBI policy stance; any form of adventurism has to be shunned: Shaktikanta Das, ET BFSI
Mumbai, The Reserve Bank of India Governor Shaktikanta Das on Tuesday said it is "too premature" to change the monetary policy stance and the apex bank has to shun "adventurism" approach on the rates front. Speaking at broadcaster ET Now's Leadership Dialogues here,...
North Korea rolls out the red carpet for Putin
Russia's President Vladimir Putin is greeted by North Korea's leader Kim Jong Un during a welcoming ceremony at an airport in Pyongyang, North Korea June 19, 2024. Gavriil Grigorov | Via ReutersRussian President Vladimir Putin was met with a grand reception in...
India’s world-beating growth pace to continue, says RBI Governor Shaktikanta Das, ET BFSI
Last quarter's robust economic momentum, which lifted India's GDP to a world-beating 8.2% rate of expansion in FY24, has continued into the first quarter of the current fiscal, buttressed by several growth drivers, Reserve Bank of India (RBI) governor Shaktikanta Das...
DJT shares tumble 13% as Trump Media stock sell-off accelerates
Aytac Unal/ | Anadolu | Getty ImagesShares of Trump Media & Technology Group dropped more than 13% on Tuesday, continuing the stock's tumble following the conviction of former President Donald Trump, the company's majority shareholder.Trump Media shares, which...
Rep. Matt Gaetz investigated by House Ethics Committee
U.S. Rep. Matt Gaetz (R-FL) walks away from the U.S. Capitol after his motion to vacate the chair of House Speaker Kevin McCarthy (R-CA) and end McCarthy's continued leadership succeeded by a vote of 216-210, outside the U.S. Capitol in Washington, October 3,...
Trump gag order appeal dismissed by New York’s top court
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...
AI deepfake porn bill would require big tech to police and remove images
U.S. Senator Ted Cruz (R-TX) addresses a news conference on Capitol Hill in Washington, October 6, 2021.Evelyn Hockstein | ReutersWASHINGTON — Lawmakers on Capitol Hill are scrambling to address the boom in deepfake AI pornographic images, which have targeted everyone...
SBI steps up climate risk tracking after RBI nudge, BFSI News, ET BFSI
MUMBAI: SBI has started watching the weather more intently from the current financial year. The country's largest lender is incorporating climate change risks into its lending framework and has set up a Climate Change Risk Management Committee to enhance governance...
FM Nirmala Sitharaman to hold pre-budget meeting with industry chambers on June 20, ET BFSI
Union Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said. The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of...
The market is blowing off what the Fed is saying about rates, BFSI News, ET BFSI
The Wall Street axiom warns to “never fight the Fed.” But that’s exactly what traders are doing, and it could spark a rally in some of the forgotten corners of the stock market.Federal Reserve forecasts and comments from central bankers couldn’t be more clear....
New Jersey Democratic kingmaker George Norcross indicted on racketeering charges
New Jersey businessman and co-owner of The Philadelphia Inquirer, George Norcross walks to Judge Patricia McInerney's courtroom at City Hall in Philadelphia. Matt Rourke | APGeorge Norcross, who for decades had been a Democratic political kingmaker in New Jersey, was...
Immigrants help keep job growth high as inflation cools
U.S. President Joe Biden greets members of the U.S. Border Patrol at the U.S.-Mexico border in Brownsville, Texas, U.S., February 29, 2024. Kevin Lamarque | ReutersImmigration — both authorized and unauthorized — has helped the U.S. job market sustain a fiery run in...
U.S. sends senior adviser amid surging Israel-Lebanon tensions
Smoke and flame rise after Hezbollah carried out a missile attack on Safed city, northern Israel on June 12, 2024.Anadolu | Anadolu | Getty ImagesA senior U.S. adviser will travel to Israel in a bid to cool rising tensions at the Lebanon border, where recent rains of...
The market is blowing off what the Fed is saying about rates, BFSI News, ET BFSI
The Wall Street axiom warns to “never fight the Fed.” But that’s exactly what traders are doing, and it could spark a rally in some of the forgotten corners of the stock market.Federal Reserve forecasts and comments from central bankers couldn’t be more clear....
Finance minister to meet economists, farm bodies for pre-Budget talk, ET BFSI
NEW DELHI: As part of her pre-budget consultations with stakeholders, finance minister Nirmala Sitharaman will meet farmers' associations and agriculture economists on Friday and seek their suggestions on the policy landscape for the politically and economically...
A battle of anti-western hardliners
Iran's Supreme Leader Ali Khamenei leads funeral prayer for the late Iranian President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian and other officials who died in a helicopter crash at the Tehran University campus in Tehran, Iran on May 22, 2024. Iranian...
Clooney and Roberts help Biden raise $30 million-plus at a star-studded Hollywood gala
Some of Hollywood's brightest stars headlined a fundraiser for President Joe Biden that took in a record $30 million-plus for a Democratic candidate, according to his campaign, in hopes of energizing would-be supporters for a White House contest they said may rank...
TRAI meets RBI, SEBI, IRDAI, and telecom operators to tackle spam calls, ensure consumer protection, ET BFSI
The Telecom Regulatory Authority of India (TRAI) convened a pivotal meeting today, bringing together representatives from the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India...
South Africa’s Ramaphosa re-elected as ANC strikes coalition deal
President of the African National Congress (ANC) Cyril Ramaphosa (C) gestures after he was announced president after members of parliament voted during the first sitting of the New South African Parliament in Cape Town on June 14, 2024.Wikus De Wet | Afp | Getty...
G7 confronts China on commerce, pope talks about AI
Italian Premier Giorgia Meloni receives Pope Francis as he arrives at the G7 Leaders Summit on day two of the 50th G7 summit at Borgo Egnazia on June 14, 2024 in Fasano, Italy.Vatican Pool | Getty Images News | Getty ImagesPope Francis made an historic appearance at...
DOJ won’t prosecute Merrick Garland for contempt over Biden tapes
U.S. Attorney General Merrick Garland departs for a recess during a House Judiciary Committee hearing entitled “Oversight of the U.S. Department of Justice”, in Washington, D.C., U.S., June 4, 2024. Anna Rose Layden | ReutersWASHINGTON — The Justice Department...
He was ‘meandering,’ ‘doesn’t know what he’s talking about’
WASHINGTON — Former President Donald Trump failed to impress everyone in a room full of top CEOs Thursday at the Business Roundtable's quarterly meeting, multiple attendees told CNBC."Trump doesn't know what he's talking about," said one CEO who was in the room,...
Alex Jones’ personal assets to be sold to help pay Sandy Hook debt
A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones′ personal assets and was still deciding on his company's separate bankruptcy case. The decision could determine the future of his Infowars media platform, as Jones owes $1.5 billion...
Russia’s Putin outlines conditions for peace talks with Ukraine
Russian President Vladimir Putin speaks during his meeting with scientists while visiting the Joint Institute for Nuclear Research on June 13, 2024 in Dubna, Russia.Contributor | Getty Images News | Getty ImagesRussian President Vladimir Putin on Friday set out the...
Clarence Thomas omitted three more Harlan Crow trips: Top senator
Supreme Court Justice Clarence Thomas (L) and billionaire Harlan Crow.Getty ImageSupreme Court Justice Clarence Thomas has omitted at least three private jet trips gifted by Republican megadonor Harlan Crow from his annual financial disclosures, a top Senate Democrat...
More aid can be backed by Russian assets
U.S. Treasury Secretary Janet Yellen speaks to the Economic Club of New York in New York City, U.S., June 13, 2024.Brendan McDermid | ReutersU.S. Treasury Secretary Janet Yellen said Thursday that the $50 billion loan to Ukraine that President Joe Biden and other...
RBI’s ASISO system faces glitch, BFSI News, ET BFSI
The RBI on Tuesday witnessed a technical glitch in the facility that allows banks to either deploy surplus funds or borrow money from the central bank, market participants said.Bank treasury executives said the central bank's Automatic Sweep-In and Sweep-Out (ASISO)...
Trump calls Milwaukee a ‘horrible’ city ahead of Republican convention
Republican presidential candidate former President Donald Trump speaks to the media following meetings with Republicans on Capitol Hill, at the National Republican Senatorial Committee headquarters in Washington, June 13, 2024.Evelyn Hockstein | ReutersIn a meeting...
RBI using forex market tools to ease liquidity tightness, BFSI News, ET BFSI
The Reserve Bank of India (RBI) is using forex market tools to inject cash into the banking system, which is soon set to witness large outflows on account of advance tax payments.The central bank has over the past few days undertaken short-term 'buy-sell' foreign...
Indian central bank likely selling dollars to cap rupee weakness, traders say, ET BFSI
MUMBAI, - The Indian central bank was selling U.S. dollars on Friday to limit depreciation in the rupee, four traders told Reuters.The rupee was at 83.5375 against the dollar as of 10:50 a.m. IST, barely changed from its close at 83.5425 in the previous session. The...
G7 taps Moscow’s frozen assets in support of Ukraine
A simple principle underpins a contentious Thursday decision by the U.S. and key allies to tap profits from Russian sovereign assets in support of Ukraine: Moscow must make reparations."Russia has to pay," European Council President Charles Michel told CNBC's Steve...
What Trump told CEOs in their private meeting
Republican presidential candidate, former U.S. President Donald Trump gives remarks to the press at the National Republican Senatorial Committee building on June 13, 2024 in Washington, DC.Anna Moneymaker | Getty ImagesDonald Trump huddled with at least 80 CEOs on...
Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor
Christy Goldsmith Romero, commissioner of the Commodity Futures Trading Commission (CFTC) speaks during the DC Blockchain Summit in Washington, D.C., on Tuesday, May 24, 2022.Valerie Plesch | Bloomberg | Getty ImagesPresident Joe Biden will nominate Christy Goldsmith...
Trump floats eliminating U.S. income tax and replacing it with tariffs on imports
Republican presidential candidate, former U.S. President Donald Trump speaks during his campaign rally at Sunset Park on June 09, 2024 in Las Vegas, Nevada. Brandon Bell | Getty ImagesDonald Trump on Thursday brought up the idea of imposing an "all tariff policy" that...
How campaign funding pays his legal bills
Throughout his 2024 campaign, former President Donald Trump has managed to keep his political operation afloat by walking a delicate financial tightrope. The guilty verdict in a Manhattan hush money case added to a long list of legal challenges that have cost him more...
Trump CEO meeting to include Dimon, Fraser, Moynihan
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on...
White House to nominate Goldsmith Romero soon, aiming for July hearing, says Reuters source
The Federal Deposit Insurance Corp. headquarters in Washington, DC, U.S., on Monday, May 20, 2024. The White House will nominate markets regulator Christy Goldsmith Romero as Federal Deposit Insurance Corporation chair imminently as it targets the week of July 8 for...
Argentina’s Senate passes Milei’s reform bill amid violent protests
Aerial view of a fire during a protest outside the National Congress in Buenos Aires on June 12, 2024. Tomas Cuesta | Afp | Getty ImagesArgentina's Senate narrowly passed President Javier Milei's sweeping economic reform bill, delivering a tentative legislative...
Fed holds rates steady, sees just one cut in 2024 despite inflation progress, ET BFSI
The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year amid rising estimates for what it will take to...
Judge bars Martin Shkreli from streaming Wu-Tang Clan album
Former drug company executive Martin Shkreli and his lead attorney Benjamin Brafman arrive at U.S. District Court for the fourth day of jury deliberations in his securities fraud trial in the Brooklyn borough of New York City, U.S., August 3, 2017. Amr Alfiky |...
France’s Macron says he won’t quit if his party loses in snap election vote
French President Emmanuel Macron speaks with CNBC's Andrew Ross Sorkin (not shown), in Paris on May 23, 2024.CNBCFrench President Emmanuel Macron on Wednesday affirmed that he would not step down if his party suffers in the recently called snap elections for France's...
Biden cheers cooling inflation ahead of key Fed interest rate decision
President Joe Biden on Wednesday took a victory lap on the latest inflation report, which found that consumer prices did not rise in May over their April levels, marking the first time since 2022 that U.S. month over month inflation has remained flat."Prices are still...
U.S. widens sanctions to discourage countries from doing business with Moscow
White House National Security Communications Advisor John Kirby speaks during a press briefing at the White House in Washington, U.S., April 15, 2024. Elizabeth Frantz | ReutersThe United States widened its sanctions against Russia Wednesday as G7 leaders prepared to...
RBI suffers system failure in automated system for banks’ liquidity management, ET BFSI
The Reserve Bank of India on Tuesday witnessed a technical glitch in the facility that it provides to banks to either deploy surplus funds or borrow money from the central bank, market participants said.Bank treasury executives said that the central bank’s Automatic...
Russian warships enter Havana harbor under Washington’s watchful eye
The Russian nuclear-powered submarine Kazan (L) and the class frigate Admiral Gorshkov, part of the Russian naval detachment visiting Cuba, arrive at Havana's harbour, June 12, 2024. Adalberto Roque | Afp | Getty ImagesRussian navy ships churned into Havana harbor on...
Hungary agrees not to veto NATO’s deepening support for Ukraine
Hungarian Prime Minister Viktor Mihaly Orban.Thierry Monasse | Getty Images News | Getty ImagesNATO Secretary-General Jens Stoltenberg said Hungary will neither block nor participate in the military alliance's deepening support for Ukraine, as he looks to shore up...
Trump and Biden campaigns go head-to-head with rival fundraisers in London
Donald Trump pictured with right-wing British politician Nigel Farage during a campaign rally at the Mississippi Coliseum on August 24, 2016.Getty ImagesLONDON — Supporters of U.S. presidential candidates Donald Trump and Joe Biden will be putting their money where...
Why the Trump campaign never fundraised off the Hunter Biden trial
Republican presidential candidate and former U.S. President Donald Trump reacts during a campaign event, in Las Vegas, Nevada, U.S. June 9, 2024. Brendan McDermid | ReutersFormer President Donald Trump has spent years attacking Hunter Biden, President Joe Biden's only...
Biden Hamptons fundraising trip
US President Joe Biden disembarks Air Force One upon arrival at Paris Orly airport near Paris, on June 5, 2024, as he travels to commemorate the 80th anniversary of D-Day.Julien De Rosa | Via ReutersPresident Joe Biden is planning a fundraising swing through the ritzy...
India cenbank’s reserve maintenance system for banks fails on Tuesday, traders say, ET BFSI
By Dharamraj DhutiaMUMBAI, - India's central bank system that enables lenders to manage their day-to-day liquidity needs did not work on Tuesday due to a technical issue, treasury officials said, its first such failure since it was set up nearly four years ago.The...
Key witness Jose Uribe questioned
U.S. Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., June 11, 2024. Shannon Stapleton | ReutersDefense attorneys on Tuesday...
Joe Biden says he will ‘respect the judicial process’ as Hunter considers appeal
U.S. President Joe Biden and son Hunter Biden disembark from Air Force One at Hancock Field Air National Guard Base in Syracuse, New York, U.S., February 4, 2023.Elizabeth Frantz | ReutersPresident Joe Biden said Tuesday he will not challenge the federal jury verdict...
DOJ blasts GOP conspiracy it controlled NY trial
U.S. Attorney General Merrick Garland speaks during a news conference at the Department of Justice Building on March 21, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesThe Department of Justice blasted House Republicans for spreading the "completely baseless"...
Verdict reached in gun case
Hunter Biden, son of U.S. President Joe Biden, departs from the J. Caleb Boggs Federal Building on June 3 2024, in Wilmington, Delaware. Biden is standing trial for felony gun charges.Anna Moneymaker | Getty ImagesJurors reached a verdict Tuesday morning in the...
Hunter Biden gun trial jury deliberates
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden walk outside the federal court as his trial on criminal gun charges continues, in Wilmington, Delaware, U.S., June 11, 2024. Hannah Beier | Reuters(This story is developing and will be...
UK’s Rishi Sunak announces election pledges
British Prime Minister Rishi Sunak speaks at the Conservative Party's general election manifesto launch at Silverstone Circuit on June 11, 2024 in Towcester, United Kingdom.Leon Neal | Getty Images News | Getty ImagesLONDON — British Prime Minister Rishi Sunak...
Rupee flat, volatility expectations drop as RBI maintains grip, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was nearly flat on Tuesday, with traders expecting the currency to largely move sideways as the Reserve Bank of India continued to hurdle sharp declines that also helped cool near-term volatility expectations. The rupee was...
India cenbank should review plan to raise provisions against infra loans, lobby group says, ET BFSI
By Siddhi NayakMUMBAI - The lobby group for Indian non-banking lenders on Tuesday asked for a review of a recent proposal from the central bank calling for an increase in the provisions that lenders have to set aside against infrastructure project loans.Last month,...
India may reduce rates before US Federal Reserve does, BFSI News, ET BFSI
India may reduce rates before the Federal Reserve does as stronger-than-expected employment data in the US weakens the case for monetary policymakers in the world’s biggest economy to begin the cycle of easing, said a report by ICICI Securities Primary Dealership....
How high growth is delaying RBI rate cuts, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has maintained its stance on the repo rate for the eighth consecutive monetary policy review, marking the longest period of unchanged policy rates since 2000. This extended pause reflects the central bank's cautious approach as it waits...
Trump says he will eliminate taxes on tips
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign event, in Las Vegas, Nevada, U.S. June 9, 2024. Brendan McDermid | ReutersFormer President Donald Trump said he would eliminate taxes on tipped income if he wins a second...
Trump Media files reaudited financial statement
A smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesTrump Media on Monday submitted an updated inspection of the company's finances by a newly hired public accounting firm, after its last auditor was charged...
Trump probation interview as legal team readies fight against hush money verdict
Former U.S. President Donald Trump departs the courtroom after being found guilty on all 34 counts in his hush money trial at Manhattan Criminal Court on May 30, 2024 in New York City. Justin Lane | Getty ImagesDonald Trump will participate in an interview Monday with...
5 things to know before the stock market opens Monday, June 10
Here are five key things investors need to know to start the trading day:1. Nvidia splitsStock futures slipped Monday morning after polishing off a winning week on Friday. Dow Jones Industrial Average futures fell by about 0.2%, while S&P 500 futures and Nasdaq...
Hunter Biden gun trial live updates
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden arrive at the federal court for his trial on criminal gun charges, in Wilmington, Delaware, U.S., June 10, 2024. Hannah Beier | ReutersThis is developing news and will be updated...
Israel between far-right coalition and Gaza cease-fire
Benny Gantz, a member of the country's wartime cabinet, departs after announcing his resignation during a press conference on June 9, 2024.Amir Levy | Getty Images News | Getty ImagesIsrael's war cabinet minister Benny Gantz resigned from the emergency government,...
France’s Macron calls election his far-right rival Le Pen could win
French President Emmanuel Macron.Chesnot | Getty Images News | Getty ImagesFrench President Emmanuel Macron's decision to call a snap national election after a surge for his far-right rivals is a high-stakes move and a huge political gamble, analysts say.Macron's...
US Fed’s ‘dot plot’ could offer glimpse of rate-cut resolve, ET BFSI
Investors may glean more on the Federal Reserve's resolve to ease monetary policy when US policymakers update their forecasts for interest rates Wednesday for the first time in three months.The central bank - led by Chair Jerome Powell - is widely expected to hold...
France’s Macron calls for snap election after losing big to the far right in EU vote
French President Emmanuel Macron speaks during a meeting with members of the AI sector at the Elysee Presidential Palace in Paris, France, on May 21, 2024.Yoan Valat | Afp | Getty ImagesFrench President Emmanuel Macron on Sunday said he would dissolve the country's...
South Dakota Gov. Kristi Noem says Trump choosing a woman VP would help him win
South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Shannon Stapleton | ReutersSouth Dakota Gov. Kristi Noem, once a strong contender to be former...
Israel’s Benny Gantz resigns over lack of plan for postwar Gaza
Israeli war cabinet member Benny Gantz arrives at the US State Department ahead of a meeting with US Secretary of State Antony Blinken on March 5, 2024 in Washington DC.Drew Angerer | AFP | Getty ImagesBenny Gantz, a centrist member of Israel's three-man war Cabinet,...
Ukraine says it hit latest-generation Russian fighter jet for first time
The Sukhoi Su-57 jet fighter at the MAKS-2019 Moscow International Airshow near Zhukovsky, southeast of Moscow.Sopa Images | Lightrocket | Getty ImagesUkrainian forces have for the first time hit a latest-generation Russian Sukhoi Su-57 fighter jet at an air base...
RBI sets up panel to track online payment frauds; AP Hota to head committee, ET BFSI
The Reserve Bank of India (RBI) has set up a committee with industry participation to help build a digital public infrastructure platform specialised to tackle the issue of frauds, two people in the know told ET.The committee will also suggest means through which the...
Trump claims credit for Biden’s insulin price cap
President Joe Biden and former President Donald Trump 2024.Kevin Lamarque | Jay Paul | ReutersFormer President Donald Trump on Saturday recognized that the price of insulin is lower under President Joe Biden, but he still wants voters to credit his own...
DOJ settles CityMD Covid fraud allegations for $12 million
People wait in in a queue to enter CityMD, a health clinic that offers coronavirus disease (COVID-19) testing, on the Upper West Side as the Omicron coronavirus variant continues to spread in Manhattan, New York City, U.S., December 19, 2021.Andrew Kelly |...
Biden, Macron to discuss Israel and Ukraine in pomp-filled state visit
French President Emmanuel Macron and U.S. President Joe Biden stand together onstage during an official State Arrival Ceremony for President Macron on the South Lawn of the White House in Washington, U.S., December 1, 2022. Elizabeth Frantz | ReutersFresh from...
Bankers, BFSI News, ET BFSI
~Shrishti SharmaThe Monetary Policy Committee (MPC) has once again maintained its ‘withdrawal of accommodation’ stance in its bi-monthly policy decisions, keeping the repo rate unchanged for the 8th consecutive time at 6.5%. This decision aims to balance inflation and...
Will home loans become cheap after RBI MPC’s rate pause? Experts answer, ET BFSI
Will home loans become cheap after RBI MPC’s rate pause? Experts answer Announcing the deliberations of the second Monetary Policy Committee (MPC) for the Financial Year 2025, the Reserve Bank of India (RBI) Governor said the committee kept the rate unchanged at 6.5%....
IRS employee charged in Exxon Mobil tax credit theft bid
Chip Somodevilla | Getty Images News | Getty ImagesA former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to.Prosecutors said...
Beyoncé tickets, book advances, Bali trip in Supreme Court financial disclosures
Justice Ketanji Brown Jackson (L) and Beyonce (R)Getty ImagesSupreme Court Justice Ketanji Brown Jackson disclosed receiving concert tickets from pop superstar Beyoncé Knowles-Carter, one of several notable items revealed Friday in the high court's latest financial...
Former Trump chief of staff Mark Meadows pleads not guilty in Arizona’s fake elector case
White House Chief of Staff Mark Meadows speaks to reporters following a television interview, outside the White House in Washington, U.S. October 21, 2020.Alexander Drago | ReutersFormer Donald Trump presidential chief of staff Mark Meadows and Trump 2020 Election Day...
Biden cheers May jobs report, slams Congressional GOP economic plan
US President Joe Biden speaks about the economy at the International Brotherhood of Electrical Workers Local 26 union, in Lanham, Maryland, on February 15, 2023.Mandel Ngan | Afp | Getty ImagesPresident Joe Biden touted the far better-than-expected May jobs report,...
Hunter Biden trial: Prosecution rests
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden, arrive at the federal court for his trial on criminal gun charges in Wilmington, Delaware, U.S., June 7, 2024. Hannah Beier | ReutersProsecutors rested their case Friday in the federal...
Trump disrespected Black people on ‘The Apprentice’
Republican presidential candidate and former U.S. President Donald Trump attends a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016,...
Policy shifts following elections and new administration pose risks: Moody’s, ET BFSI
Emerging market (EM) sovereigns are navigating recovery from the dual shocks of Covid-19 and the Russia-Ukraine war, leading to stabilizing debt levels and easing financial conditions.However, potential policy shifts following elections and new administration...
Repo rate unchanged at 6.5%, GDP forecast raised to 7.2%, ET BFSI
RBI MPC Meet 2024: Governor announces repo rate unchanged at 6.5%The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Friday decided to keep policy rate unchanged for the eighth time in a row by 4:2 majority.While announcing the decision, the governor...
RBI rectifies reporting errors in banks’ CRR maintenance data, ET BFSI
Mumbai: After several instances in which average fortnightly cash balances of banks kept with the Reserve Bank of India (RBI) unusually fell short of the mandated cash reserve requirement, the central bank has rectified the matter by resolving issues with how the data...
Fed to unveil 2024 bank stress test results on June 26, ET BFSI
WASHINGTON, - The Federal Reserve will release the 2024 results of its annual stress test of large bank finances on June 26, the central bank announced on Thursday.This year's exercise will examine 32 banks with over $100 billion in assets, and see how they would...
Supreme Court Justice Clarence Thomas got millions in gifts
(L-R) U.S. Supreme Court Chief Justices Clarence Thomas, Ruth Bader Ginsburg, Stephen Breyer, and Samuel Alito attend Judge Neil Gorsuch's judicial oath ceremony in the Rose Garden at the White House April 10, 2017 in Washington, DC.Chip Somodevilla | Getty Images...
Growth Up, Rates Steady, Innovation Ahead, ET BFSI
In a comprehensive address on June 7, RBI Governor Shaktikanta Das unveiled the outcomes of the latest Monetary Policy Committee (MPC) meeting, covering a wide array of critical economic indicators and strategic measures. From raising the GDP growth forecast to 7.2%...
Kohl’s donation Trump Republican National Convention
A Kohl's department store sign hangs outside the building on March 12, 2024 in Miami, Florida. Shares of Kohl's fell as it posted a drop in same-store sales in the fourth quarter. Joe Raedle | Getty ImagesMilwaukee based department store giant Kohl's says it will not...
RBI remain in wait & watch mode, rate-cut expected in October: Economists, ET BFSI
RBI Governor Shaktikanta DasThe Reserve Bank of India on Friday decided to retain the repo rate at 6.5 per cent, thereby maintaining a pause on its rate-hike cycle for the eighth consecutive time.The MPC further decided by a majority of 4 out of 6 members to remain...
RBI proposes to include auto replenishment of FASTag, NCMC & UPI Lite balances in e-mandate framework, ET BFSI
The RBI Governor Shaktikanta Das on Friday announced the inclusion of auto replenishment facility of FASTag, NCMC and UPI Lite wallet balances in the e-mandate facility. The Central bank governor highlighted that the adoption of e-mandates for recurring payment...
Trump suggests tariffs against nations including China over illegal immigration
Presidential candidate Donald Trump was booed and heckled by many in a raucous audience at the Libertarian National Convention on Saturday night, a marked change from the adulation he receives at rallies from his fervently loyal supporters.Brendan McDermid |...
RBI announces HaRBInger 2024 with focus on Zero Financial Frauds, Being Divyang Friendly, ET BFSI
">CenBank has announced the third edition of its annual hackathon, "HaRBInger 2024 - Innovation for Transformation"In a move aimed at enhancing the safety, security, and inclusivity of India's financial ecosystem, the Reserve Bank of India (RBI) Governor...
Activists send balloons carrying K-pop and money into North Korea
A balloon believed to have been sent by North Korea, carrying various objects including what appeared to be trash and excrement, is seen over a rice field at Cheorwon, South Korea, May 29, 2024. Yonhap News Agency | ReutersThe battle of the balloons continues.North...
Bulk deposits limit to e-mandate framework, ET BFSI
RBI MPC’s key announcements: Bulk deposits limit to e-mandate framework While announcing the second Monetary Policy Committee (MPC) decision on Friday, the Reserve Bank of India (RBI) announced certain key additional measures. The (MPC) has decided to keep policy rate...
RBI sees FY25 GDP growth at 7.2% on above-normal monsoon, consumption uptick, ET BFSI
The Reserve Bank of India has predicted 72 per cent real GDP growth for for 2024-25 on above-normal monsoon, growing rural and urban consumption, uptick in services and the government's thrust on capex.It projected the Q1 growth at 7.3 per cent; Q2 at 7.2 per cent; Q3...
U.S. Indo Pacific economic engagement ‘isn’t about China,’ Raimondo says
America's economic engagement in Indo-Pacific "isn't about China" but for strengthening U.S. presence in the region, Commerce Secretary Gina Raimondo told CNBC. President Joe Biden launched the Indo-Pacific Economic Framework for Prosperity, involving14 countries,...
Dutch nationalist Wilders makes big gains at EU election, exit poll shows
Geert Wilders, Dutch right-wing politician and leader of the Party for Freedom (PVV).Carl Court | Getty Images News | Getty ImagesDutch nationalist Geert Wilders' anti-immigration party on Thursday was projected to have made large gains in the Netherlands' election...
Billionaire Frank McCourt’s TikTok bid backed by parents group
Frank McCourt, civic entrepreneur, executive chairman of McCourt Global and founder of Project Liberty, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. Andrew Kelly | ReutersIn the race to buy TikTok, billionaire...
Beau Biden widow Hallie Biden testifies
Hallie Biden (L), daughter in-law of U.S. President Joe Biden, arrives to the J. Caleb Boggs Federal Building for the trial of Hunter Biden on June 06, 2024 in Wilmington, Delaware.Kevin Dietsch | Getty Images News | Getty ImagesHallie Biden, the widow of President...
Ex-Trump aide Steve Bannon ordered to jail by July 1
Steve Bannon, former advisor to President Donald Trump, arrives at the federal courthouse to find out if or when a judge will order him to jail on June 6, 2024 in Washington, DC. Andrew Harnik | Getty ImagesA federal judge in Washington, D.C., on Thursday ordered...
Photos of D-Day’s 80th anniversary in Normandy, France
French troops disembark from a US landing craft during a joint US and French amphibious landing operation showcase, on June 4, 2024, at Omaha beach in Saint-Laurent-sur-Mer, northwestern France, ahead of the "D-Day" commemorations marking the 80th anniversary of the...
Trump in liberal San Francisco for high-dollar tech fundraiser
Republican presidential candidate Donald Trump will attend a fundraiser hosted by two tech venture capitalists in San Francisco on Thursday, a high-dollar event expected to draw Silicon Valley investors turned off by the Biden administration's policies.Venture...
Psychiatrist Henry Jarecki claims consensual relationship with victim
Henry Jarecki attends The Accompanied Literary Society's Summer Benefit at The Hudson Sky Terrace at The Hudson Hotel in New York City, June 11, 2007.David X Prutting | Patrick McMullan | Getty ImagesFamed psychiatrist and former commodities trader Henry Jarecki on...
Trump Georgia election case halted for challenge to DA
Source: Fulton County JailA Georgia appeals court on Wednesday halted the criminal election interference case against Donald Trump in the state pending the outcome of his bid to disqualify the district attorney prosecuting the former president.The order by the Georgia...
Experts bet on status quo, SBI Research predict rate cut in Q3FY25, ET BFSI
RBI MPC meet: Experts bet on status quo, SBI Research predict rate cut in Q3FY25The RBI is set to announce the decision of its Monetary Policy Committee (MPC) on Friday amid the raising concerns of economic slow down. Since the Lok Sabha Elections gave the outcome on...
McConnell suggests ‘discipline’ for Dem senators pressuring Supreme Court over Alito flags
Senate Minority Leader Mitch McConnell, R-Ky., speaks during a press conference following the weekly Senate caucus luncheons on Capitol Hill in Washington, April 9, 2024.Amanda Andrade-Rhoades | ReutersSenate Minority Leader Mitch McConnell, R-Ky., suggested Wednesday...
RBI penalties up 88% in 3 yrs; KYC, AML top list, BFSI News, ET BFSI
The number of penalties imposed by the Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Customer (KYC) and Anti Money Laundering (AML) topping the list of non-compliances.The central bank collected ₹78.6 crore over the...
RBI rate-setting panel starts deliberations on monetary policy, decision on Friday, ET BFSI
The rate-setting panel of RBI on Wednesday started its three-day deliberations to decide the next monetary policy amid expectations of continuation of the current interest rate. Reserve Bank Governor Shaktikanta Das will announce the decisions taken by the Monetary...
Modi’s election shortfall in India has Wall Street scrambling
Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersA stunning political setback for Indian Prime Minister Narendra Modi has business executives in the country furiously...
RBI MPC meets amid concerns of inflation, rate cut unlikely say economists, ET BFSI
Mumbai (Maharashtra) [India], June 5 (ANI): The Reserve Bank of India (RBI) is unlikely to reduce the benchmark interest rate in its monetary policy review meeting. The meeting, chaired by Reserve Bank Governor Shaktikanta Das, is underway in Mumbai.The decision of...
EU elections June 2024: Why it matters
Belgian Foreign minister Hadja Lahbib poses with a European flag in a mock polling station box to encourage people to vote in the upcoming European Elections.Laurie Dieffembacq | Afp | Getty ImagesThe political makeup of the European Union is about to change with...
RBI penalties up 88% in 3 yrs; KYC, AML top list, BFSI News, ET BFSI
The number of penalties imposed by the Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Customer (KYC) and Anti Money Laundering (AML) topping the list of non-compliances.The central bank collected ₹78.6 crore over the...
Trump fundraiser host accused of making racist remarks at work in lawsuit
Xtreme Manufacturing owner and Ahern Rentals CEO and Chairman Don Ahern speaks at a campaign event for President Donald Trump at Xtreme Manufacturing in Henderson, Nevada, Sept. 13, 2020.Ethan Miller | Getty ImagesFormer President Donald Trump will be hosted at a...
Donald Trump to speak at private CEOs meeting, weeks after conviction
Former US President and Republican presidential candidate Donald Trump points as he arrives back at Trump Tower after being convicted in his criminal trial in New York City, on May 30, 2024. Timothy A. Clary | AFP | Getty ImagesFormer President Donald Trump will...
FTC antitrust lawsuit against Southern Glazer’s coming
Lina Khan, chair of the Federal Trade Commission, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. Andrew Kelly | ReutersThe Federal Trade Commission is preparing an antitrust lawsuit against the largest U.S....
Trump wants gag order lifted in hush money case
Republican presidential candidate and former U.S. President Donald Trump attends a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016,...
U.S. appeals court rejects SEC oversight rule for private equity, hedge funds
The headquarters of the U.S. Securities and Exchange Commission in Washington, D.C.Andrew Kelly | ReutersA U.S. appeals court rejected a Securities and Exchange Commission rule intended to give investors more transparency into private funds, but which the nearly $27...
Raghuram Rajan on election results, says voters spoken, ET BFSI
Former RBI Governor Raghuram Rajan Speaking on the Lok Sabha Election Results, the former Governor of Reserve Bank of India (RBI), Raghuram Rajan, praised the ‘wise’ Indian voters for electing a strong Opposition.He further labelled the election results as a ‘win for...
RBI absorbs Rs 44,430 crore surplus liquidity ahead of its dividend spend by govt, ET BFSI
The Reserve Bank of India (RBI) absorbed surplus liquidity amounting to Rs 44,430 crore on Tuesday through two variable rate reverse repo (VRRR) auctions with a three-day tenor. This amount was deployed by banks, even though the central bank was prepared to absorb up...
Electoral shock dashes hopes of rate cut, BFSI News, ET BFSI
Mumbai: It is well known that food inflation has been a thorn in the Reserve Bank of India's (RBI) side for long, but the elections have thrown up a new reason for the central bank to keep rate cuts at bay for the foreseeable future - a potentially new fiscal...
SEBI constitutes committee to review ownership, economic structure of clearing corporations, ET BFSI
SEBI sets up committee to review ownership, economic structure of clearing corporationsFinancial market regulator SEBI has formed a committee to review the ownership and economic structure of clearing corporations and suggest measures to ensure that those entities...
SEBI launches SaaRs thi app to understand personal finance for investors, ET BFSI
The capital markets regulator, the Securities and Exchange Board of India (SEBI) has launched 'SaaRsthi' mobile app on personal finance for investors.This user-friendly app will help investors understand complex financial concepts in a simple way, the market regulator...
Indian central bank likely intervened in NDF to support rupee, traders say, ET BFSI
MUMBAI - The Indian central bank likely intervened in the non-deliverable forwards market to support the rupee on Wednesday, which has been under pressure post the unexpected election outcome, seven traders said.The rupee was last at 83.4475 to the U.S. dollar, up...
Biden speaks on new U.S.-Mexico immigration executive order
[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 set to deliver remarks at the White House on Tuesday about his newly signed executive order tightening asylum restrictions at the...
Attorney General Merrick Garland fires back at House Republicans
U.S. Attorney General Merrick Garland testifies before the House Judiciary Committee in Washington, June 4, 2024.Anna Rose Layden | ReutersAttorney General Merrick Garland on Tuesday hit back at House Republicans threatening to hold him in contempt, calling their...
Biden immigration order labor markets and supply chains
President Joe Biden delivers remarks about immigration and border security on February 29, 2024 in Olmito, Texas. Cheney Orr | Getty ImagesPresident Joe Biden's new executive order tightening asylum limits at the U.S.-Mexico border could have the double-edged economic...
India’s Narendra Modi declares victory despite election blow
India's Prime Minister Narendra Modi (C) flashes victory sign as he arrives at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Arun Sankar | Afp | Getty ImagesIndian Prime Minister...
Trump campaign aide, lawyers charged in Wisconsin fake electors case
Kenneth Chesebro speaks to Fulton County Superior Court Judge Scott McAfee during a hearing where Chesebro accepted a plea deal from the Fulton County District Atorney at the Fulton County Courthouse October 20, 2023 in Atlanta, Georgia. Alyssa Pointer | Getty ImagesA...
U.S. appeals court blocks grant program for Black women-owned businesses
Attorney Ben Crump, Fearless Fund co-partners Arian Simone, Ayana Parsons, Lead counsel Mylan Denerstein and Co-Counsel Alphonso David pose for a picture at the end of a press conference in New York, U.S., August 10, 2023. Eduardo Munoz | ReutersVenture capital fund...
Policy continuity, reduction of rural economy distress & job creation boost if NDA comes to power: Economists, ET BFSI
Top BFSI economists believe that if the incumbents come into power for the third consecutive time, there will be continuity in policy and reforms, the government will focus and try to reduce distress in the rural economy and job creation will get a boost....
Kremlin denies Olympics disinformation campaign, calls Microsoft allegation slanderous
Kremlin spokesman Dmitry Peskov attends the 8th Russian-Chinese EXPO and the 4th Russian-Chinese Forum on Interregional Cooperation in Harbin, China, May 17, 2024. Sergei Bobylyov | Via ReutersThe Kremlin denied an allegation that it is waging a disinformation...
Trump campaign and RNC say they raised $141 million in May
Former U.S. President and Republican presidential candidate Donald Trump smiles during a campaign rally in Windham, New Hampshire, August 8, 2023.Reba Saldanha | ReutersFormer President Donald Trump's campaign and the Republican National Committee announced Monday...
Epoch Times CFO charged in alleged $67 million case
The chief financial officer of conservative global news outlet The Epoch Times has been arrested and charged with leading a yearslong scheme to launder at least $67 million in illicit funds, federal prosecutors said Monday.The scheme — which involved cryptocurrency,...
SEBI introduces ‘Saarthi 2.0’ app on personal finance for investors, ET BFSI
India's securities regulator, Stock Exchange Board of India (SEBI), has launched an upgraded version of its investors app. Called Saarthi 2.0, this app aims to be a one-stop shop for investors, providing them with the tools and information that they need to navigate...
Latest news on Russia and the war in Ukraine
House, school, hospital damaged in Dnipro strike, mayor saysSixteen high-rise buildings, 31 houses, a school and a hospital were among the buildings damaged in a Russian missile attack on the central Ukrainian city of Dnipro Tuesday morning, according to the city's...
RBI, payment industry meet discusses contours of new draft PA guidelines, ET BFSI
The digital payments industry has raised issues with the Reserve Bank of India’s draft guidelines for payment aggregators, including mandatory full KYC and stopping disbursal of funds directly to vendors, at a meeting with RBI officials a week ago.“We made a...
RBI to conduct buyback auction of government bonds worth Rs 30,000 crore, ET BFSI
The government has offered to repurchase Rs 30,000 crore worth of its securities through a buyback auction that will be conducted by the Reserve Bank of India on June 6.The RBI, which is the Centre’s debt manager, will carry out the auction in which banks and other...
Vote counting starts, Modi’s BJP projected to win
Bharatiya Janata Party supporters wearing a hat with Narendra Modi's face during a nomination filing rally by in Kolkata, India on May 10, 2024. Hindustan Times | Hindustan Times | Getty ImagesIndia started counting votes for its 2024 general election on Tuesday, with...
RBI likely to maintain repo rate at 6.5% amid persistent food inflation, ET BFSI
The Reserve Bank of India's Monetary Policy Committee (MPC) is likely to keep the repo rate steady at 6.5% during its meeting from June 5 to 7. Persistent food inflation continues to pose a significant threat to the inflation outlook, prompting expectations that the...
Modi’s BJP-led alliance set for narrower-than-expected win
India's Prime Minister Narendra Modi displays his inked marked finger after casting his ballot at a polling booth at Ranip, Ahmedabad on May 7, 2024. Sajjad Hussain | Afp | Getty ImagesThe Bharatiya Janata Party-led National Democratic Alliance was set to come to...
How RBI’s PRAVAAH portal makes life easier for NRIs, corporates, ET BFSI
The Reserve Bank of India (RBI) has introduced the PRAVAAH portal, a groundbreaking digital interface designed to streamline the process of obtaining approvals under the Foreign Exchange Management Act (FEMA). This initiative marks a significant shift from the...
Jeffrey Epstein accuser sues Henry Jarecki for rape, sex trafficking
Henry Jarecki, and Christine Corcoran attend the Annual Freedom Award Benefit Event hosted by International Rescue Committee on November 5, 2014 in New York City.Jemal Countess | Getty ImagesA woman who says she was sexually abused by Jeffrey Epstein filed a lawsuit...
Kremlin warns Washington of ‘fatal’ miscalculation to let Kyiv use U.S.-supplied weapons inside Russia
An employee of the Kharkiv prosecutor's office collects fragments of an aerial bomb for further analysis on April 30, 2024 in Kharkiv, Ukraine.Global Images Ukraine | Global Images Ukraine | Getty ImagesRussian Deputy Foreign Minister Sergei Ryabkov on Monday warned...
Brexit figurehead Nigel Farage to run in UK election after U-turn
Nigel Farage, leader of Reform UK, during a news conference in London, UK, on Monday, June 3, 2024.Bloomberg | Bloomberg | Getty ImagesLONDON — British politician and media personality Nigel Farage, best known for leading the Brexit campaign, announced Monday he would...
Hunter Biden gun trial jury selection begins, president defends son
Hunter Biden, son of U.S. President Joe Biden, arrives at the federal court with his wife Melissa Cohen Biden, on the opening day of his trial on criminal gun charges in Wilmington, Delaware, U.S., June 3, 2024. Kevin Lamarque | ReutersPresident Joe Biden expressed...
DC settles Bitcoin billionaire Michael Saylor case
Michael Saylor, executive chairman at MicroStrategy.Valerie Plesch | Bloomberg | Getty ImagesBillionaire bitcoin investor Michael Saylor and the company he founded, MicroStrategy, will pay $40 million to settle a tax fraud lawsuit brought by the Washington, D.C.,...
Democrats wanted an agreement on using artificial intelligence. It went nowhere
The Democratic National Committee was watching earlier this year as campaigns nationwide were experimenting with artificial intelligence. So the organization approached a handful of influential party campaign committees with a request: Sign onto guidelines that would...
RBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has reported that 97.82% of the Rs. 2000 denomination banknotes in circulation as of May 19, 2023, have been returned. This follows the RBI's announcement, detailed in a Press Release from May 19, 2023, about the withdrawal of these...
RBI to facilitate opening of rupee accounts abroad to boost global use of Indian currency, ET BFSI
The Reserve Bank of India (RBI) announced plans to allow rupee accounts to be opened outside the country this year, aiming to promote the international use of the Indian currency. This move will enable Indian banks to extend rupee-denominated loans to individuals...
‘No quid pro quo’ between Trump and oil execs, Gov. Burgum says
Kathryn Burgum aplauds as her husband Republican Governor of North Dakota Doug Burgum shakes hands with former US President and 2024 presidential hopeful Donald Trump during a Caucus Night watch party in Las Vegas, Nevada, on February 8, 2024. Patrick T. Fallon | AFP...
Prepare for bond sales, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) challenge for the rest of the year may not be inflation but liquidity. The resumption in government spending likely trimmed borrowing, and a surge in overseas fund flows could complicate the RBI's task of keeping its monetary policies...
Sebi’s rumour verification rule and its implications, BFSI News, ET BFSI
A new rule by the capital market regulator Securities and Exchange Board of India (Sebi) requires top listed companies to confirm, deny or clarify market rumours reported in mainstream media from June 1. Reena Zachariah looks at what it means for these...
Mexico elects Claudia Sheinbaum as first-ever female president
Presidential candidate Claudia Sheinbaum of ''Sigamos Haciendo Historia'' coalition waves to supporters during the 2024 closing campaign event at Zocalo on May 29, 2024 in Mexico City, Mexico.Hector Vivas | Getty Images News | Getty ImagesMexico's left-leaning climate...
RBI unlikely to cut interest rate on June 7, say experts, ET BFSI
Mumbai, Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy...
Trump campaign launches TikTok account as Truth Social stock dips
Republican presidential candidate and former U.S. President Donald Trump speaks during a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in...
RBI approves a Committee of Executives (CoE) in Tamilnad Mercantile Bank as an interim arrangement, ET BFSI
Kolkata: The Reserve Bank of India has approved the appointment of a Committee of Executives (CoE) in Tamilnad Mercantile Bank as an interim arrangement to oversee its operations and administration in the absence of a regular managing director.Current head of the bank...
Zelenskyy accuses China of helping Russia to disrupt peace summit
Ukraine's President Volodymyr Zelensky speaks during the 21st Shangri-La Dialogue summit at the Shangri-La Hotel in Singapore on June 2, 2024. Nhac Nguyen | Afp | Getty ImagesSINGAPORE — Ukrainian President Volodymyr Zelenskyy on Sunday accused China of helping Russia...
Ruling ANC loses majority in parliament
Voters during the South Africa General Elections on May 29, 2024 in Johannesburg, South Africa. Gallo Images | Gallo Images | Getty ImagesSouth Africa's governing African National Congress lost its parliamentary majority of 30 years, in the country's most sweeping...
China’s Dong Jun warns Taiwan separatist forces face ‘self-destruction’
China's Defense Minister Dong Jun speaks during the 21st Shangri-La Dialogue summit in Singapore on June 2, 2024.Nhac Nguyen | AFP | Getty ImagesSINGAPORE — China's defense minister, Adm. Dong Jun, vowed that anyone who aims to separate Taiwan from China will face...
Retired U.S. Navy admiral charged in bribery scheme with tech CEOs
Retired Navy Admiral Robert Burke.Courtesy: U.S. NavyA retired four-star U.S. Navy admiral, who was once the military branch's second-highest-ranking officer, was arrested on Friday for a bribery scheme with two tech CEOs, the Department of Justice announced.From 2020...
Modi’s BJP alliance set to win parliamentary majority
Indian Prime Minister Narendra Modi addresses a public meeting at Jerenga Pathar in the Sivasagar district of India's Assam state on Jan. 23, 2021.Biju Boro | AFP | Getty ImagesIndia's Prime Minister Narendra Modi looks set for a rare third consecutive term in power,...
Bill Ackman likely to back Donald Trump for president
Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations," in New York on Nov. 28, 2023.Jeenah Moon | Bloomberg | Getty ImagesHedge fund executive and billionaire Bill...
Trump slams trial as ‘rigged, disgraceful’ after he is found guilty on all counts
Former U.S. President Donald Trump arrives to court for his hush money trial at Manhattan Criminal Court in New York City on May 30, 2024.Justin Lane | Getty ImagesFormer President Donald Trump called his criminal hush money trial a "disgrace" on Thursday after a New...
Elon Musk’s X to livestream Trump town hall event
Kirill Kudryavtsev | AFP | Getty ImagesElon Musk's X will host a live town hall-style event with former President Donald Trump, the social media platform's owner and CEO confirmed Friday.The plan to spotlight the presumptive Republican presidential nominee on X was...
Trump classified documents judge is target of over 1,000 complaints
Aileen M. Cannon, United States District Judge, Southern District of FloridaCourtesy: US CourtsThe Florida federal judge overseeing the criminal classified documents case against former President Donald Trump has been the target of more than 1,000 complaints in just...
Dinesh D’Souza election fraud film ‘2000 Mules’ pulled after defamation suit
Dinesh D'Souza attends the DC premiere of his film, "Death of a Nation," at E Street Cinema on August 1, 2018 in Washington, DC. Shannon Finney | Getty ImagesWASHINGTON — The conservative gadfly Dinesh D'Souza's film and book "2000 Mules," which pushes false...
RBI warns ARCs against harassing distressed borrowers, BFSI News, ET BFSI
The RBI has told the top executives of Asset Reconstruction Companies (ARC) that they should not directly or through their recovery agents harass distressed borrowers while recovering overdue loans and play by the rule book. The issue was taken up by RBI Deputy...
Austin reaffirms U.S. commitment to Indo-Pacific region
US Secretary of Defence Lloyd Austin speaks at the 21st Shangri-La Dialogue summit in Singapore on June 1, 2024. Nhac Nguyen | Afp | Getty ImagesSINGAPORE — The United States remains vital to the future of the Indo-Pacific region, which is "more vital than ever" to...
How RBI is looking to curb payment frauds in FY25, BFSI News, ET BFSI
The Reserve Bank of India (RBI) will focus on a series of measures aimed at reducing payment frauds and enhancing the security of the financial ecosystem in FY25.One of the key measures is the expansion of the Central Payments Fraud Information Registry (CPFIR)...
How it could impact his White House bid vs. Biden
Donald Trump is now the first former American president ever to be convicted in a criminal trial — but it's far from clear whether that black mark will sink, or even weigh down, his bid to unseat President Joe Biden.Recent polls suggest that the guilty verdict could...
Biden, Democrats react to Trump guilty verdict
The Biden campaign wasted no time slamming former President Donald Trump and making a plea for campaign donations, minutes after the guilty verdict in Trump's New York hush money trial."In New York today, we saw that no one is above the law," Biden campaign spokesman...
Biden condemns Trump response to hush money verdict
U.S. President Joe Biden delivers remarks on the Middle East in the State Dining room at the White House in Washington, U.S., May 31, 2024. Evelyn Hockstein | ReutersPresident Joe Biden on Friday called former President Donald Trump's reaction to his conviction in New...
Trump donations crash website after conviction on 34 felony counts
Now that his criminal trial in New York has wrapped up with a guilty verdict, former President Donald Trump is plowing ahead with a packed schedule of fundraising events that will likely raise millions of dollars for his presidential campaign.The donations started...
Trump slams guilty verdict at press conference
Republican presidential candidate and former U.S. President Donald Trump speaks during a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in...
Philippine president talks red lines in South China Sea
Philippines' President Ferdinand Marcos Jr. delivers a speech during the 21st Shangri-La Dialogue summit in Singapore on May 31, 2024.Nhac Nguyen | Afp | Getty ImagesShould a Filipino citizen be killed in the South China Sea via an incident with the Chinese Coast...
Trump press conference on guilty verdict at 11 a.m.
[The stream is slated to start at 11 a.m ET. Please refresh the page if you do not see a player above at that time.]Former President Donald Trump is set to hold a press conference in New York on Friday, a day after a state court jury found him guilty of 34 felony...
Trump campaign nets $34.8M in donations after guilty verdict
Former U.S. President Donald Trump pumps a fist outside Trump Tower after the verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in New York City, U.S. May 30, 2024. Eduardo...
Trump has been convicted. Here’s what happens next
A New York jury on Thursday found Donald Trump guilty on 34 felony counts of falsifying business records in an effort to conceal a hush money payment made to a porn star ahead of the 2016 presidential election.Politically, the unprecedented criminal conviction of a...
Trump Media shares recover after Donald Trump found guilty on 34 felony counts
Rafael Henrique | Lightrocket | Getty ImagesTrump Media shares fell as much as 15% in extended trading on Thursday after a New York jury found former President Donald Trump guilty on all 34 felony counts of falsifying business records in his criminal hush money...
Trump guilty in hush money trial in New York
A New York jury on Thursday found former President Donald Trump guilty of all 34 felony charges of falsifying business records related to a hush money payment to porn star Stormy Daniels by his then-personal lawyer Michael Cohen before the 2016 election.Trump, 77, is...
RBI’s Retail Direct Mobile App features & usage, BFSI News, ET BFSI
The Reserve Bank of India earlier this week introduced three new facilities for consumers — Pravaah, Retail direct app and FinTech repository. Out of these three, the Retail Direct Mobile App has been introduced to facilitate seamless and convenient access to the...
Trump’s Republican megadonors shrug off his guilty verdict
Former President Donald Trump has at least one group of supporters he won't have to worry about losing even after he was found guilty in his New York criminal hush money trial: Republican megadonors."I haven't heard anybody who gives a s---," said New York businessman...
CBDC usage soars 39-fold among retail users, plunges in wholesale, ET BFSI
The outstanding amount for Central Bank Digital Currency (CBDC) in the wholesale segment crashed while its usage in the retail segment climbed 39 times in the past year, data from the Reserve Bank of India (RBI) showed.In the wholesale segment, the outstanding amount...
South Africa election portal resumes showing results after glitch
Voters during the South Africa general elections on May 29, 2024 in Johannesburg, South Africa. Gallo Images | Gallo Images | Getty ImagesLive updates of partial results from South Africa's parliamentary election reappeared on the electoral commission's website,...
RBI’s dividend transfer may ease deposit rates if govt spends it: Ind-Ra, ET BFSI
India Ratings and Research (Ind-Ra) on Thursday said the Rs 2.11 lakh crore dividend transfer by the RBI is likely to ease liquidity pressure and bring down deposit rates in the banking system if the government spends the amount. It said the mega dividend will give a...
RBI’s Rs 2.11 trn dividend to cushion revenue slippages, allow fiscal correction: Economist, ET BFSI
The Reserve Bank of India (RBI), last week, has transferred the bumper Rs 2.11 trillion to the Centre, and experts believed that this bonanza should help ease sovereign and corporate yield curves, and the near-term bull-steepening of the Gsec curve is possible...
EU’s 14th sanctions package must target circumvention, energy exports, Zelenskyy advisor says
Floating Storage Regasification Unit (FSRU) ship "Hoegh Esperanza" is guided by tug boats during its arrival at the port of Wilhelmshaven, Germany, December 15, 2022.Fabian Bimmer | AFP | Getty ImagesThe European Union's upcoming 14th sanctions package against Russia...
RBI to speed up rupee globalisation, roll out series of reforms this fiscal, ET BFSI
The Reserve Bank of India will boost ongoing efforts towards the internationalisation of the rupee by bringing regulatory changes for non-residents, while taking steps to bolster the GIFT City’s appeal vis-à-vis other international financial centres.“Efforts are...
Austin expresses ‘concern’ over China’s activities in South China Sea
US Secretary of Defense Lloyd Austin (L) leaves a meeting at the Shangri-La Hotel in Singapore on May 31, 2024, as part of his attendance at the 21st Shangri-La Dialogue summit. The US and Chinese defence chiefs will hold rare direct talks in Singapore on May 31,...
Fed officials see inflation falling, signal no rush to cut rates, ET BFSI
Federal Reserve policymakers continue to expect inflation to fall this year even as the labor market stays strong, leaving them in no hurry to cut the policy rate from the 5.25%-5.5% range they have kept it in since last July.Dallas Fed President Lorie Logan said on...
RBI moves 100 tonnes gold from UK to its vaults in India, BFSI News, ET BFSI
NEW DELHI: Reserve Bank of India has moved a little over 100 tonnes of gold from the UK to its vaults in the country, marking the first time at least since early 1991, when precious metal at this scale has been added to the stock held locally.A similar quantity of...
Latest news on Russia and the war in Ukraine
Russian missiles hit several locations in Ukraine's northeastern Kharkiv region overnight, killing five people and injuring at least 25, according to the regional head.Oleh Syniehubov, head of Kharkiv's military administration, described the evening as a "difficult...
How 23% jump in foreign earnings helped RBI give Rs 2.11 lakh crore dividend to govt, ET BFSI
The Reserve Bank of India (RBI) has reported a significant increase in its earnings for the financial year 2023-24, driven by a strong performance from both foreign and domestic sources, helping it to give a record Rs 2.11 lakh crore dividend to the...
Argentina’s Milei meets with Open AI’s Sam Altman and Apple’s Tim Cook
Argentina's President Javier Milei waves during the commemoration of the 214th anniversary of the May Revolution that led to the independence from Spain, at Plaza San Martin in Cordoba, Argentina, on May 25, 2024.Diego Lima | Afp | Getty ImagesArgentina President...
Jury to re-hear David Pecker testimony
Justice Juan Merchan instructs the jury before deliberations as Republican presidential candidate and former U.S. President Donald Trump looks on during his criminal trial over charges that he falsified business records to conceal money paid to silence porn star...
RBI says its balance sheet increases by 11.08% YoY in FY24, ET BFSI
The Reserve Bank of India in its Annual Report on Thursday said that its balance sheet increased 11.08% year-on-year (Y-o-Y) to Rs 70.47 trillion as on March 31, 2024 riding on liquidity and foreign exchange operations. Notably, the balance sheet was Rs 63.44 trillion...
RBI to take regulatory, supervisory measures in FY25 to tackle climate change challenge, ET BFSI
Amid alarming heatwaves across the country, the Reserve Bank of India (RBI) has flagged climate related financial risks and said it was take several regulatory and supervisory measures in 2024-25 to respond to it."Climate-related financial risks and the consequent...
Government’s thrust on capex, fiscal consolidation paint bright picture for Indian economy: RBI, ET BFSI
New Delhi [India], May 30 (ANI): The outlook for the Indian economy remains bright, backed by a sustained strengthening of various macroeconomic fundamentals, robust financial and corporate sectors, said Reserve Bank of India in its annual report published on...
Latest news on Russia and the war in Ukraine
A dormitory of the Novokramatorsk Machine-Building Plant is heavily damaged by a Russian missile strike on May 29, 2024 in Kramatorsk, Donetsk Oblast, Ukraine.Global Images Ukraine | Global Images Ukraine | Getty ImagesRussian Foreign Minister Sergey Lavrov suggested...
India cenbank’s net income jumps to 2.11 trillion rupees in FY24, ET BFSI
MUMBAI, - The Indian central bank had a net income of 2.11 trillion rupees ($25.30 billion) in the financial year 2024, up from 874.20 billion rupees in the previous year with a jump in interest income from foreign securities, its annual report released on Thursday...
RBI’s reserves effective guard against Vostro holding swings, BFSI News, ET BFSI
Mumbai: Record foreign exchange reserves provide New Delhi with a formidable protective buffer against ownership swings in sovereign security holdings by Russian entities, for which the Reserve Bank of India (RBI) had facilitated a specific type of investment...
ANC set to lose majority in pivotal vote
Residents line up to cast ballots in the national election on May 29, 2024 in Matatiele, South Africa.J. Countess | Getty Images News | Getty ImagesSouth African's governing African National Congress appears set to lose majority control in the country's most seismic...
White House to support new nuclear power plants in the U.S.
The Vogtle Unit 3 and 4 site, being constructed by primary contractor Westinghouse, a business unit of Toshiba, near Waynesboro, Georgia, is seen in an aerial photo taken February 2017.Georgia Power | ReutersThe White House on Wednesday plans to announce new measures...
DOJ charges Chinese national in $5.9 billion Covid ‘botnet’ fraud
A global malware network responsible for the theft of $5.9 billion in Covid relief funds and tied to other crimes like child exploitation and bomb threats has been shut down, Department of Justice officials announced Wednesday.The DOJ arrested 35-year-old YunHe Wang,...
Supreme Court’s Alito rejects calls to recuse from Trump, Jan. 6 cases
Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021.Erin Schaff | Pool | ReutersSupreme Court Justice Samuel Alito on Wednesday rejected Democratic lawmakers' requests that he recuse himself from...
All charges dropped against golf champ Scottie Scheffler in Louisville case
FORT WORTH, TX - MAY 23: Scottie Scheffler (USA) hits from the 6th tee during the Charles Schwab Challenge on May 23, 2024 at Colonial Country Club in Fort Worth, TX. (Icon Sportswire | Icon Sportswire | Getty ImagesKentucky prosecutors on Wednesday dropped all...
RBI imposes business restrictions on ECL Finance, Edelweiss ARC, ET BFSI
RBI imposes business restrictions on ECL Finance, Edelweiss ARCThe Reserve Bank of India (RBI) on Wednesday imposed business restrictions on two supervised entities belonging to the Edelweiss Group, namely ECL Finance Ltd (ECL), and Edelweiss Asset Reconstruction...
Trump trial jury set to start deliberations in New York
Former US President Donald Trump attends his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 16, 2024. Angela Weiss | ReutersJurors in the criminal hush money trial of former...
Robust governance led by Board is pre-requisite to ensure ARCs fulfill mandate: RBI DG, ET BFSI
Robust governance led by the Board is a pre-requisite to ensuring that Asset Reconstruction Companies (ARCs) fulfill their intended mandate, said the RBI Deputy Governor Swaminathan J.In a speech at the Conference of ARCs, the Deputy Governor said, “Effective...
RFK Jr. donor to publish Hunter Biden ex’s tell-all memoir
Hunter Biden, son of U.S. President Joe Biden, arrives for a closed-door deposition before the House Committee on Oversight and Accountability, and House Judiciary Committee in the O'Neill House Office Building on February 28, 2024 in Washington, DC. The meeting is...
Investors must take Rajan’s promise, not Pitroda’s threat, ET BFSI
Investors usually turn jittery ahead of any scheduled event that could alter the course of economic policymaking. This month is no different with the general elections underway that could either bring back a single party rule, or anoint an agglomeration of disparate...
Haiti gets a new prime minister as nation remains under siege by gangs
U.N. development specialist Garry Conille was named Haiti's new prime minister Tuesday evening, nearly a month after a coalition within a fractured transitional council sought to choose someone else for the position.Jewel Samad | Afp | Getty ImagesU.N. development...
Latest news on Russia and the war in Ukraine
Ukraine says it shot down 13 drones overnightThe Ukrainian air force said it shot down 13 out of 14 drones launched overnight by Russia, according to a Google-translated Wednesday update on the Telegram messaging app. The attack took place over the Mykolaiv,...
Robert De Niro slams Trump outside criminal trial
US actor Robert De Niro speaks in support of US President Joe Biden outside of Manhattan Criminal Court as former US President and Republican presidential candidate Donald Trump attends his criminal trial for allegedly covering up hush money payments in New York City,...
Georgia president overruled, lawmakers push forward with ‘Russian law’
Demonstrators protesting the "foreign influence" law crowd outside the parliament building in central Tbilisi on May 28, 2024.Vano Shlamov | Afp | Getty ImagesGeorgian lawmakers on Tuesday voted to override a presidential veto on the Russia-style "foreign agents" law,...
RBI transforms finance with PRAVAAH, Retail Direct mobile app, and FinTech Repository, ET BFSI
In the late hours of Tuesday, the Reserve Bank of India (RBI) announced three pioneering initiatives aimed at streamlining regulatory procedures, empowering retail investors, and providing comprehensive insights into the burgeoning fintech sector.The first of these...
U.S. court to hear challenges to potential TikTok ban in September
Participants hold signs in support of TikTok at a news conference outside the U.S. Capitol Building on March 12, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesA U.S. appeals court on Tuesday set a fast-track schedule to consider the legal challenges to a new...
South Africa prepares for election that could see ANC lose grip on power
President of the ruling African National Congress (ANC) and South African President, Cyril Ramaphosa at a rally on May 25, 2024 in Johannesburg, South Africa. Chris Mcgrath | Getty Images News | Getty ImagesSome 30 years on from the peaceful transition from apartheid...
Wikipedia’s Jimmy Wales and business leaders back Labour
Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England.Dan Kitwood | Getty Images News | Getty ImagesLONDON — More than 100 business...
Trump trial closing arguments to begin in New York hush money case
Former President Donald Trump looks on before the start of trial at the Manhattan Criminal Court during trial in New York City May 20, 2024. Mark Peterson | Via ReutersClosing arguments in the criminal hush money trial of Donald Trump are set to begin in New York on...
Four European Union banks seek RBI nod for clearing model, ET BFSI
Four top European banks, which also play key custodian roles in the local sovereign debt trade, have sought the Reserve Bank of India's (RBI) go-ahead for a third-party transaction model to break the impasse involving their home authorities and domestic policymakers...
RBI tells money changers to avoid build-up of idle foreign currency balances, ET BFSI
The Reserve Bank of India has directed full-fledged money changers to ensure that the value of foreign currency notes sold by them to the public should not be less than 75% of the value of such notes bought from other money changers on a quarterly basis.The RBI’s...
PSBs face 11% profit hit if RBI’s project finance norms implemented on existing projects, ET BFSI
Public sector banks may face 11% hit on profits and private sector banks 4% if the RBI project finance norms are implemented on the existing stock of funded projects. "Since the banks are currently under IRAC norms if the higher charge on the existing stock of funded...
E. Jean Carroll’s lawyer responds to Trump Memorial Day post
Former U.S. President Donald Trump speaks to members of the media amid his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, U.S., on May 16, 2024. Angela Weiss | Via ReutersDonald Trump...
What ails RBI’s wholesale e-rupee pilot?, BFSI News, ET BFSI
Image for representationSince its launch in November 2022, the e-rupee pilot for government bonds has operated without technical issues. Despite a flawless proof of concept, the only expansion to the wholesale e-rupee pilot has been the inclusion of call money...
Latest news on Russia and the war in Ukraine
Netherlands pledges Patriot parts, proposes international effort to build system for UkraineThe Netherlands proposed to contribute core parts from its existing stocks, in a bid to assemble a Patriot air defense system in collaboration with other countries and deliver...
RBI dividend to have limited impact on medium-term fiscal consolidation: Fitch, ET BFSI
New Delhi: A larger-than-expected surplus transfer by the RBI will have a limited impact on India's medium-term fiscal consolidation, Fitch Ratings said Friday."While supportive of near-term fiscal performance, the one-off nature of the dividend, however, means the...
North Korea plans to launch satellite rocket between May 27 and June 4, Japan Coast Guard says
View of what appears to be an inspection test of a new surface-to-sea missile, at an undisclosed location in North Korea in this picture released by the Korean Central News Agency on February 15, 2024. KCNA | ReutersNorth Korea has notified Japan of its plan to launch...
Trump booed and heckled by raucous crowd at Libertarian convention
Presidential candidate Donald Trump was booed and heckled by many in a raucous audience at the Libertarian National Convention on Saturday night, a marked change from the adulation he receives at rallies from his fervently loyal supporters.Brendan McDermid |...
Central Bank of India told to pay Rs 25 crore for fraudulent transfer, ET BFSI
Public Health Foundation of India (PHFI), a registered society formed with the aim of establishing new institutes of public health and assisting existing ones, had collaborated with state and central govt agencies for fulfilling its objectives. At the stage of...
China calls on Japan and South Korea to reject ‘protectionism’
SEOUL, SOUTH KOREA - MAY 26: South Korean President Yoon Suk Yeol (3rd, L) talks with Chinese Premier Li Qiang (2nd, R) during a bilateral meeting at Presidential Office on May 26, 2024 in Seoul, South Korea. (Photo by Ahn Young-Joon - Pool/Getty Images)Pool | Getty...
Threatening election officials is ‘domestic terrorism,’ says Arizona Sec’y of State
Adrian Fontes (D-AZ) declares victory in his campaign against Republican candidate Mark Finchem for Arizona's Secretary of State in the U.S. midterm elections in Phoenix, Arizona, U.S., November 14, 2022. Jim Urquhart | ReutersArizona Secretary of State Adrian Fontes...
Lithuanians vote in presidential election overshadowed by Russia
Voters cast their ballot during the second round of the country's presidential election at a polling station in Vilnius, Lithuania on May 26, 2024. Petras Malukas | Afp | Getty ImagesLithuania holds presidential elections on Sunday, with incumbent Gitanas Nauseda...
After China drills, Taiwan president again extends goodwill
Lai Ching-te, president of Taiwan, on Saturday, Jan. 13, 2024. Bloomberg | Bloomberg | Getty ImagesTaiwan President Lai Ching-te again extended goodwill towards and offered cooperation with China on Sunday following two days of Chinese war games near the island,...
European banks in Russia face ‘awful lot of risk’, Yellen says
U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. Kent Nishimura | Getty ImagesU.S. Treasury Secretary Janet Yellen told Reuters...
Misconduct allegations not reported promptly
Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC), during a House Financial Services Committee oversight hearing in Washington, DC, US, on Wednesday, May 15, 2024. Graeme Sloane | Bloomberg | Getty ImagesThe Federal Deposit Insurance Corp....
Truth Social struggles to grow U.S. user base
Nearly two-and-a-half years after its launch, Truth Social is struggling to hang onto its small U.S. user base, according to new data on the microblogging platform launched by former President Donald Trump's media company.So far in May, U.S. daily visits to Truth...
Maldives to launch India’s RuPay service amid bilateral tensions, ET BFSI
Notwithstanding the turbulence in their bilateral ties, the Maldives will soon launch India's RuPay service, which a senior minister has said "will bolster the Maldivian Rufiyaa." RuPay, a product of the National Payments Corporation of India (NPCI), is the first of...
RBI dividend to have limited impact on medium-term fiscal consolidation: Fitch, ET BFSI
New Delhi: A larger-than-expected surplus transfer by the RBI will have a limited impact on India's medium-term fiscal consolidation, Fitch Ratings said Friday."While supportive of near-term fiscal performance, the one-off nature of the dividend, however, means the...
Texas Republican convention splits with corporate sponsors
Texas Governor Greg Abbott and former President Donald J. Trump attend a security briefing with state officials and law enforcement at the Weslaco Department of Public Safety DPS Headquarters before touring the US-Mexico border wall on Wednesday, June 30, 2021 in...
RBI imposes Rs 3.1 lakh penalty on Hero FinCorp, BFSI News, ET BFSI
Mumbai: The RBI on Friday said it has imposed a penalty of Rs 3.1 lakh on Hero FinCorp Limited for non-compliance with certain provisions relating to fair practices code. The Reserve Bank, however, added the penalty is based on deficiencies in regulatory compliance...
Yellen sees no ‘showstoppers’ on G7 Ukraine loan backed by Russian asset earnings
U.S. Treasury Secretary Janet Yellen attends an interview with Reuters Editor in Chief Alessandra Galloni in Washington, U.S., April 25, 2024. Evelyn Hockstein | ReutersU.S. Treasury Secretary Janet Yellen said on Friday that she does not see "any showstoppers" in her...
India’s forex reserves jump third week to hit fresh lifetime high, ET BFSI
New Delhi [India], May 24 (ANI): India's foreign exchange reserves rose for the third straight week, by USD 4.549 billion to USD 648.700 billion in the week that ended on May 17, according to data shared by the Reserve Bank of India (RBI). In the process, they touched...
UN’s top court orders Israel to halt military offensive in Rafah
The International Court of Justice displayed on a smartphone, with the flag of Israel visible in the background in Brussels, Belgium, on May 20, 2024. Nurphoto | Nurphoto | Getty ImagesThe U.N.'s top court, the International Court of Justice, on Friday ordered Israel...
Latest news on Russia and the war in Ukraine
Romania declares Russian diplomat 'persona non grata'Romania's Ministry of Foreign Affairs on Friday said it has declared the diplomat of the Russian embassy to Bucharest persona non grata, citing "activities that contravene the provisions of the Vienna Convention on...
RBI dividend will have economic dividends, BFSI News, ET BFSI
An outstanding dividend by RBI provides the incoming government more elbow room to reach its medium-term fiscal target or improve the deficit's composition to drive more capex. In the first eventuality, GoI could help lower interest rates by trimming its borrowings....
A win-win situation! RBI’s bumper dividend will leave India’s new government spoilt for choice, ET BFSI
India's incoming government will be greeted with a $25 billion cheque from the central bank, giving it the option to either boost spending or narrow the fiscal deficit quicker, both of which will be cheered by investors.On Wednesday, the Reserve Bank of India (RBI)...
Implications of China’s war drills around Taiwan
Members of Taiwan's military conduct routine exercises at Liaoluo Port in Kinmen on May 24, 2024. China on May 23 encircled Taiwan with naval vessels and military aircraft in war games aimed at punishing the self-ruled island after its new president vowed to defend...
Indian cenbank’s FX strategy leans on NDF intervention to safeguard reserves, say sources, ET BFSI
By Jaspreet Kalra, Nimesh Vora and Swati BhatMUMBAI - The Reserve Bank of India is relying more on interventions in the non-deliverable forwards (NDF) market to limit rupee volatility as they have a lower impact on foreign exchange reserves, two sources familiar with...
CHIPS Act last $6 billion in semiconductor award money
The rollout of the Biden administration's CHIPS Act award money has so far focused on providing major awards for major companies, with just four leading-edge semiconductor manufacturers receiving the lion's share of the $33 billion that has been allocated to this...
Sebi proposes relaxation in valuations of AIFs’ investment portfolio, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has proposed relaxation of rules on valuation of investment portfolio of alternative investment funds (AIFs).These easing of norms relate to change in valuation methodology on material change, computing...
Cop violated body camera rules, chief says
Scottie Scheffler arrives to the course during the second round of the PGA Championship at Valhalla Golf Club in Louisville, Kentucky, on May 17, 2024.Ben Jared | PGA Tour | Getty ImagesA Louisville, Kentucky, police detective violated department policy by not...
French AI boom could help EU close U.S., China tech innovation gap
PARIS, France — Europe is pursuing AI innovation, tech regulation and competition with China in very different ways than the United States, French President Emmanuel Macron said this week, as the continent seeks to become the third major global tech force in what is...
UK General Election 2024: Analysts forecast ‘historic’ result
British Prime Minister Rishi Sunak makes a statement in the rain outside 10 Downing Street, announcing the UK general election will take place on 4 July in London, United Kingdom on May 22, 2024.Anadolu | Anadolu | Getty ImagesU.K. Prime Minister Rishi Sunak ended...
JP Morgan bond inclusion helps RBI record highest net dollar purchase in three years, buys $41.27 billion in FY24, ET BFSI
The Reserve Bank of India (RBI) recorded its highest net dollar purchase in the past three years, acquiring $41.27 billion in the financial year 2023-24 (FY24). This marks the largest net purchase since the financial year 2020-21 (FY21), when the RBI bought $68.3...
How did the macroeconomic indicators perform in April 2024?, ET BFSI
~Shrishti SharmaIn April 2024, India's economy showed resilience amidst global uncertainty. GDP growth surged to 8.4%, driven by manufacturing, mining, and construction sectors. Projections revised upwards to 7.6-7.8% by Deloitte and PwC. Nifty index rose steadily...
India central bank’s record dividend to government may reduce fiscal gap, ET BFSI
By Swati Bhat and Nikunj OhriMUMBAI -The board of India's central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts' and government projections.The...
TRAI dials RBI, SEBI & DoT over pesky call issue, BFSI News, ET BFSI
NEW DELHI: A high-level meeting convened by telecom regulator Trai discussed the growing instances of pesky calls and unsolicited messages, to chalk out a solution for countering the menace."Unsolicited commercial communication is a major source of inconvenience to...
RBI buys 1.5 times more gold in January-April than whole of 2023, ET BFSI
The Reserve Bank of India added 24 tonnes of gold to its stock of reserves in four months from January to April this year as a hedge against volatility amid geopolitical tensions. This is reckoned to be a part of strategic diversification of reserves in challenging...
Rate easing may have to wait, highlights RBI in its latest bulletin, ET BFSI
Easing of rates by the Reserve Bank of India might still have to wait going by the hawkish tone in an assessment of the economy published by the RBI economists in its latest monthly bulletin.“A modest easing of headline inflation in the reading for April 2024 confirms...
India central bank’s record dividend to government may reduce fiscal gap, ET BFSI
By Swati Bhat and Nikunj OhriMUMBAI -The board of India's central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts' and government projections.The...
RBI’s record Rs 2.11 lakh crore transfer to govt set to bring down interest rates, ET BFSI
The Reserve Bank of India (RBI) has transferred a record surplus of Rs 2.11 lakh crore to the government for the financial year 2023-24, significantly surpassing expectations. This substantial transfer has raised hopes among bond traders that the government might...
‘I myself was not involved in corrupt practices’
Malaysia's former prime minister Mahathir Mohamad said he and his family members were not involved in any "corrupt practices."Last month, Malaysia's Anti-Corruption Commission said Mahathir was among individuals being investigated over a corruption probe that...
Why RBI is stocking up aggressively on gold reserves; central bank buys 1.5 times more gold in Jan-April than entire 2023, ET BFSI
RBI stocks up gold reserves: From January to April 2024, the Reserve Bank of India (RBI) added 24 tonnes of gold to its reserves, a strategic move to hedge against volatility amidst geopolitical tensions. This addition is significantly higher than the 16 tonnes added...
Latest news on Russia and the war in Ukraine
Russia detains fourth top defense figure for bribe-taking, media reportsRussia has detained the deputy head of the army's general staff Lieutenant General Vadim Shamarin, on suspicion of large-scale bribe-taking, Russian media reported on Thursday, the latest in a...
Indian shares up led by financials after cenbank’s record dividend to government, ET BFSI
By Bharath Rajeswaran and Dimpal GulwaniBENGALURU - Indian shares recovered from a muted start on Thursday, helped by a rebound in financials on hopes of improvement in the country's fiscal deficit after the Reserve Bank of India's record dividend to the...
BP exec’s husband gets prison term for insider trading
Sam Edwards | Getty ImagesThe ex-husband of a former BP mergers and acquisitions manager was sentenced to two years in federal prison for insider trading that netted him $1.76 million after he eavesdropped on her work calls about the oil giant buying another...
UK Prime Minister Rishi Sunak calls July 4 general election
Britain's Prime Minister Rishi Sunak leaves Downing Street in London, Britain, May 22, 2024. Hollie Adams | ReutersLONDON - U.K. Prime Minister Rishi Sunak on Wednesday called for a general election to take place on July 4, after economic data showed a fall inflation...
Most Americans falsely think the U.S. is in recession, poll shows
People walk past a homeless man outside the New York Stock Exchange (NYSE) at Wall Street on January 18, 2023 in New York City. Angela Weiss | AFP | Getty ImagesMore than half of Americans think that the United States is in an economic recession, although gross...
Meet the leaders of the Trump era’s new conservative economic populism
(L-R) J.D. Vance, a Republican candidate for U.S. Senate in Ohio, and Sen. Josh Hawley (R-MO) speak with reporters at a campaign rally on May 1, 2022 in Cuyahoga Falls, Ohio.Drew Angerer | Getty ImagesThis reported column is Part Two of Eamon Javers' two-part series...
RBI approves transfer of Rs 2.11 trillion as surplus to Union government, ET BFSI
In a board meeting, the Reserve Bank of India (RBI) has approved the transfer of Rs 2.11 trillion ($25.35 billion) as surplus to the Union government for the fiscal year ended March.“The Board has approved the transfer of Rs 2,10,874 crore as surplus to the Central...
Will RBI’s dividend, surplus payment to govt top Rs 1 lakh crore this year?, ET BFSI
The government is also likely to raise the target for surplus transfers from the Reserve Bank of India (RBI) and dividends from public sector banks and financial institutions in addition to increasing the target for dividend receipts. The Interim Budget had projected...
RFK Jr. says he invested $24,000 in GameStop after meme stock revival
Independent U.S. presidential candidate Robert F. Kennedy Jr. hikes in the Santa Monica Mountains in Los Angeles on March 18, 2024.Mike Blake | ReutersRobert F. Kennedy Jr., the third-party challenger to President Joe Biden and former President Donald Trump in the...
India on cusp of long-awaited economic take-off, says RBI article, ET BFSI
The Reserve Bank of India has said that there is optimism about India's economic take-off globally and recent indicators point to a rising demand."There is a growing optimism that India is on the cusp of a long-awaited economic take-off. Recent indicators are pointing...
Fani Willis and judge presiding over Trump election interference case defeat challengers in election
Fulton County District Attorney Fani Willis speaks to the media after a grand jury brought back indictments against former President Donald Trump and 18 of his allies in their attempt to overturn the state's 2020 election results, in Atlanta, Georgia, Aug. 14,...
Sebi amends rule to facilitate ease of doing biz for cos planning IPOs, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has allowed non-promoter shareholders to contribute towards the shortfall in minimum promoters’ contribution in an initial public offering (IPO) without being identified as a promoter.Rules mandate at least 20%...
RBI may delay plan to ease interest rates, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will likely push back the decision to begin easing policy rates as the latest inflation print suggests the potential alignment of the keenly monitored price index with the mandated target for the central bank is back-ended. "A...
Trump campaign starts taking cryptocurrency donations
Former US President Donald Trump speaks during a campaign event at the Waukesha Expo Center in Waukesha, Wisconsin, US, on Wednesday, May 1, 2024. Daniel Steinle | Bloomberg | Getty ImagesThe Trump campaign announced Tuesday it will start accepting cryptocurrency...
Citing lack of stability, RBI cautions retail investors against investing in cryptocurrencies, ET BFSI
RBI yet again urged retail investors to be more cautious while investing in cryptocurrencies, and noted that the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.RBI, in its monthly bulletin released Tuesday, asserted that...
Latest news on Russia and the war in Ukraine
Russia's tactical nuclear weapons drills meant to send a warning to the WestThe timing of Russian non-strategic nuclear weapons drills that began on Tuesday is not accidental and will certainly be watched closely by Ukraine and the West.The exercises come at a time...
India Inc raises record debt capital in FY24, BFSI News, ET BFSI
India Inc has raised more debt capital in FY24 from both local and overseas investors than what they did in the preceding fiscal, supported by increasing appetite for investing in Indian companies.Bond issuances during 2023-24 grew by about 15% to Rs 8.6 lakh crore as...
Trump ally Doug Burgum in business with oil giant
Republican presidential candidate and former president Donald Trump shakes hands with North Dakota Gov. Doug Burgum and Vivek Ramaswamy, left, at a campaign rally at the The Margate Resort in Laconia, NH on Monday, January 22, 2024.Jabin Botsford | The Washington Post...
Biden takes credit for Target grocery price cuts
U.S. President Joe Biden delivers remarks on lowering costs for American families during a visit to Goffstown, New Hampshire, U.S., March 11, 2024.Kevin Lamarque | ReutersPresident Joe Biden took a victory lap after Target announced it was lowering prices on groceries...
Trump Media stock falls after posting quarterly loss
Aytac Unal/ | Anadolu | Getty ImagesShares of Trump Media fell more than 10% on Tuesday, a day after the Truth Social app owner reported a net loss of $327.6 million on just $770,500 in revenue in the first quarter of 2024.Trump Media, whose majority shareholder is...
Trump trial resumes in porn star hush money case
Witness Robert Costello is scolded by Justice Juan Merchan, who momentarily cleared the courtroom during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in...
Supreme Court’s Alito sold AB InBev, bought Coors
United States Supreme Court Associate Justice Samuel Alito poses for an official portrait at the East Conference Room of the Supreme Court building on October 7, 2022 in Washington, DC. Alex Wong | Getty ImagesSupreme Court Justice Samuel Alito sold shares of beer...
Trump Republicans shift GOP approach to labor, free markets and regulation
Republican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersThis reported column is Part One of Eamon Javers' two-part series on the new, conservative...
Iran begins days of funeral rites for Ebrahim Raisi after crash
People attend funeral ceremony, held for Iranian President Ebrahim Raisi and his senior officials died in a helicopter crash, in Tabriz, Iran on May 21, 2024. Anadolu | Anadolu | Getty ImagesThousands of mourners descended on Tabriz on Tuesday for a funeral ceremony...
Trump Media (DJT) Q1 2024 earnings
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesTrump Media & Technology Group, the parent...
Heat waves, monsoon will offer RBI some food for thought, BFSI News, ET BFSI
Intense heat waves are not just making daily life inconvenient but also affecting various sectors of the economy. The upcoming monsoon season too will be crucial for the economy. Weather is becoming a permanent factor in the calculations of the Reserve Bank of India...
Donald Trump outraises President Joe Biden in April
Former U.S. President and Republican presidential candidate Donald Trump holds a rally in advance of the New Hampshire presidential primary election in Rochester, New Hampshire, U.S., January 21, 2024. Mike Segar | ReutersFormer President Donald Trump outraised...
FinMin may raise FY25 CPSE dividend target in full budget, BFSI News, ET BFSI
New Delhi, The finance ministry is likely to raise the CPSE dividend estimates by Rs 5,000 crore to around Rs 53,000 crore for the current fiscal in the full budget to be presented in July. In the interim budget 2024-25, the government had pegged dividend estimates...
Banks to RBI, ET BFSI
Representative ImageMUMBAI: Banks will have only a 'limited ability' to pass on the impact of the proposed increase in project loan provisions due to the intense competition among lenders and the pressure to maintain relationships with large corporates. Officials from...
Latest news on Russia and the war in Ukraine
Russia experiencing labor shortages as war demands manpowerRussia is currently experiencing a labor shortage in no small part due to the war in Ukraine, with some sectors experiencing significant problems recruiting workers, the British Ministry of Defense said...
Biden’s White House is courting CEOs while bashing corporate greed
U.S. President Joe Biden departs the White House in Washington, U.S., for a campaign fundraiser in California, May 9, 2024. Craig Hudson | ReutersPresident Joe Biden has had it out for corporate America for much of his term.Over the past three years, he has worked to...
Top Democrat asks Biden to replace FDIC chairman
Senator Sherrod Brown (D-OH), speaks at the 2019 National Action Network National Convention in New York, April 5, 2019.Lucas Jackson | ReutersSen. Sherrod Brown, D-Ohio, on Monday called on President Joe Biden to replace Federal Deposit Insurance Corporation Chairman...
Trump trial closing arguments set for May 28
Former U.S. President Donald Trump sits in the courtroom at Manhattan Criminal Court with his attorney Todd Blanche (L) on May 20, 2024 in New York City.Michael M. Santiago | Getty ImagesThe end of the criminal hush money trial of Donald Trump in New York will not...
ICC seeks arrest warrants for Israeli PM Netanyahu, three Hamas leaders
The International Criminal Court (ICC) logo is seen on a smartphone screen.Sopa Images | Lightrocket | Getty ImagesThe International Criminal Court is seeking arrest warrants against three leaders of Palestinian militant group Hamas and Israeli Prime Minister Benjamin...
WikiLeaks’ Julian Assange can appeal extradition to U.S.: UK court
LONDON, ENGLAND - MAY 19: Julian Assange gestures as he speaks to the media from the balcony of the Embassy Of Ecuador on May 19, 2017 in London, England. Photo by Jack Taylor/Getty Images)Jack Taylor | Getty Images News | Getty ImagesLONDON — WikiLeaks founder Julian...
Russian strikes on Ukraine’s Kharkiv region kill at least 11
A view shows a crater that appeared after a Russian missile strike on a structure at a resort, amid Russia's attack on Ukraine, in Kharkiv, Ukraine May 19, 2024. REUTERS/Valentyn OgirenkoValentyn Ogirenko | ReutersRussia struck a busy lakeside resort on the edge of...
Iran’s President Raisi is dead. What does it mean for the country and the world?
The President of Islamic Republic of Iran Seyyed Ebrahim Raisi during the meeting with Secretary-General Antonio Guterres UN Headquarters.Lev Radin | Lightrocket | Getty ImagesThe sudden death of Iranian President Ebrahim Raisi in a helicopter crash plunges Tehran...
Why did the RBI reject most bids in the bond buyback programme?, ET BFSI
For the past couple of weeks, India's sovereign bond market has been buzzing with developments surrounding a particular kind of operation that the Reserve Bank of India carries out in its role as the government's merchant banker. The operation in question is a buyback...
Iran’s President Raisi, Foreign Minister Amirabdollahian killed in helicopter crash
Iranian President Ebrahim Raisi speaks during a meeting with the cabinet in Tehran, Iran, October 8, 2023.Wana News Agency | ReutersIranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian died in a helicopter crash, state media reported...
Latest news on Russia and the war in Ukraine
Russian oil refinery damaged after weekend attack from Ukraine, state media reportsRussia's Slavyansk oil refinery was damaged in a drone attack from Ukraine over the weekend, Russian state news agency Tass reported on Monday."There is damage. Their scale and size...
Centre may get around ₹1 lakh crore in RBI dividend, BFSI News, ET BFSI
Recent actions by the Reserve Bank of India (RBI) suggest that it may transfer a higher dividend - possibly in the region of ₹1 lakh crore - to the government than last year, giving a potential boost to New Delhi's finances.Last week, the RBI announced a steep cut in...
India’s foreign exchange reserves rose USD 2.6 billion in latest week, ET BFSI
New Delhi [India], May 19 (ANI): India's foreign exchange reserves rose for the second straight week, by USD 2.561 billion to USD 644.151 billion in the week that ended on May 10, according to data shared by the Reserve Bank of India (RBI).Preceding these two weeks,...
Taiwan’s new President Lai Ching-te urges China to stop its ‘intimidation
Lai Ching-te (center) was sworn in as Taiwan's new president on Monday, taking over from his predecessor Tsai Ing-wen (left), who is stepping down at the end of her two-term limit on the presidency.Annabelle Chih | Getty Images News | Getty ImagesTaiwan's new...
Biden confronts Gaza, 2024 election weak spots in Morehouse speech
U.S. President Joe Biden addresses Morehouse College graduates during a commencement ceremony in Atlanta, Georgia, U.S., May 19.Elizabeth Frantz | ReutersPresident Joe Biden on Sunday addressed the war in Gaza and discussed his investments in Black communities during...
RBI announces reduction in the quantum of the government’s treasury bill sales, ET BFSI
Following interactions with lenders amid tight liquidity conditions, the central bank has announced a steep reduction in the quantum of the government’s treasury bill sales and a new selection of bonds for the Centre’s buyback operations to aid freeing up cash for...
RBI’s Swaminathan cautions NBFCs on poor data, unsecured loans, ET BFSI
Mumbai: Non-banking finance companies' (NBFCs) adoption of technology is fuelling growth, but reliance on algorithms built on poor data, over-reliance on unsecured loans and unsustainable loan limits are leading to build-up of risks that could bring grief in the...
Need proactive risk mitigation measures to tackle cyberattacks: RBI DG, ET BFSI
RBI deputy governor Swaminathan J said the potential impact of a cyberattack on a bank's operations, reputation, and financial stability cannot be "overstated", as he emphasised the need for proactive risk mitigation strategies. Speaking at the Conference of Heads of...
New York crypto personality used ‘Seinfeld’ joke in fraud: feds
Jason Alexander as George Costanza. Maria McCarty | NBCU Photo Bank | NBCUniversal | Getty ImagesYada, yada, yada, this cryptocurrency crook isn't laughing now.A New York man swindled more than $1.3 million from friends, neighbors and investors by among other things...
Man convicted of attacking ex-Speaker Nancy Pelosi’s husband with a hammer sentenced to 30 years
David DePape, right, records the nude wedding of Gypsy Taub outside City Hall on Dec. 19, 2013, in San Francisco. DePape is accused of breaking into House Speaker Nancy Pelosi's California home and severely beating her husband with a hammer. DePape was known in...
Trump campaign lawyer John Eastman pleads not guilty in Arizona case
Attorney John Eastman, the architect of a legal strategy aimed at keeping former President Donald Trump in power, gets out of an SUV to talk to reporters after a hearing in Los Angeles, Tuesday, June 20, 2023.Jae C. Hong | APThe attorney John Eastman pleaded not...
Justice urged to leave Trump election case
Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021.Erin Schaff | Pool | ReutersThe chair of the Senate Judiciary Committee on Friday urged Supreme Court Justice Samuel Alito to recuse himself...
RBI Dy Guv highlights supervisory concerns in functioning of ARCs, ET BFSI
The Reserve Bank of India (RBI) on Friday held a Conference in Mumbai for the Directors and MD/ CEOs of Asset Reconstruction Companies (ARCs).At the event, Deputy Governors M. Rajeshwar Rao and Swaminathan J. addressed the participants.In his keynote address, M....
World’s top golfer Scottie Scheffler arrested for assaulting officer at PGA championship event
Mugshot of PGA Golfer Scott Alexander Scheffler, arrested for assault on police after trying to enter PGA Championship venue.Source: WaveScottie Scheffler, the top golfer in the world, was taken into custody Friday and charged with felony assault on a police officer...
RBI holds conference for heads of assurance functions at Urban Co-operative Banks, ET BFSI
Mumbai (Maharashtra) [India], May 16 (ANI): The Reserve Bank of India (RBI) convened a conference in Mumbai on Thursday, bringing together Heads of Assurance Functions from select Urban Co-operative Banks (UCBs).According to RBI press release, this conference,...
RBI’s Swaminathan cautions NBFCs on poor data, unsecured loans, ET BFSI
Mumbai: Non-banking finance companies' (NBFCs) adoption of technology is fuelling growth, but reliance on algorithms built on poor data, over-reliance on unsecured loans and unsustainable loan limits are leading to build-up of risks that could bring grief in the...
Sen. Menendez’s wife has breast cancer, he reveals at corruption trial
US Senator Bob Menendez, Democrat of New Jersey, and his wife Nadine Arslanian, arrive at the US District Court, Southern District of New York, in New York City on September 27, 2023. Timothy A. Clary | AFP | Getty ImagesNadine Menendez, the wife and co-defendant of...
India central bank likely selling dollars to cap rupee depreciation, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to limit weakness in the rupee, four traders told Reuters.The rupee was at 83.4850 against the dollar as of 09:50 a.m. IST, barely changed from its previous close at 83.50.The rupee has remained under...
India central bank likely selling dollars to cap rupee depreciation, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to limit weakness in the rupee, four traders told Reuters.The rupee was at 83.4850 against the dollar as of 09:50 a.m. IST, barely changed from its previous close at 83.50.The rupee has remained under...
Modi strongman rule raises questions on India’s ‘democratic decline’
Narendra Modi, India's prime minister, center, during a campaign rally in Agra, Uttar Pradesh, India, on Thursday, April 25, 2024. Modi doubled down on his attacks against the main opposition party by using language critics say sows division between the country's...
Rupee little changed, likely RBI intervention counters slip in Asian peers, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was largely unchanged on Friday as dollar sales from state-run banks, likely on behalf of the Reserve Bank of India (RBI), curbed weakness in the currency even as its Asian peers slipped.The rupee was at 83.48 against the...
Latest news on Russia and the war in Ukraine
Zelenskyy says situation in Kharkiv region 'stabilized' after Russian forces make significant gainsUkraine's President Volodymyr Zelensky waits to greet US Secretary of State prior to their meeting in Kyiv on May 14, 2024. Brendan Smialowski | AFP | Getty...
India’s 2024 economic growth projection revised upwards by UN to nearly 7 per cent, ET BFSI
By Yoshita Singh United Nations, The United Nations has revised upwards India's growth projections for 2024, with the country's economy now forecast to expand by close to seven per cent this year, mainly driven by strong public investment and resilient private...
Facebook and Nike diversity manager gets prison for fraud
Barbara Furlow-Smiles attends the 2020 Sisters' Awards at Skirball Cultural Center on March 08, 2020 in Los Angeles, California.Robin L. Marshall | Getty ImagesA former diversity manager at Facebook and Nike was sentenced to five years and three months in prison for...
Trump lawyer yells at Michael Cohen in cross-examination
Michael Cohen, a former attorney for Republican presidential candidate and former U.S. President Donald Trump, heads to court for second day of cross-examination at Trump's criminal trial over charges that he falsified business records to conceal money paid to silence...
Perks for Trump top donors during GOP Convention
ANAHEIM, CALIFORNIA - SEPTEMBER 29: Former U.S. President Donald Trump Former U.S. President Donald Trump speaks at the California GOP convention on September 29, 2023 in Anaheim, California. Presidential candidates set to speak at the convention include former...
Biden slams Trump as he touts record-high Dow crossing 40,000
U.S. President Joe Biden delivers remarks on the September Jobs Report at the White House in Washington, D.C., on Oct. 6, 2023.Kevin Dietsch | Getty ImagesPresident Joe Biden's campaign ripped presumptive Republican nominee Donald Trump after the Dow Jones Industrial...
Supreme Court Justice Clarence Thomas questioned on RV loan
Two leading Democratic senators are pressing Supreme Court Justice Clarence Thomas to say whether he repaid a wealthy friend any of the principal for a $267,230 loan he used to buy a luxury motorhome.The letter to Thomas's lawyer, dated Tuesday, raises questions about...
Supreme Court rules Consumer Financial Protection Bureau funding structure is legal
The Consumer Financial Protection Bureau headquarters in Washington, D.C., on May 14, 2021.Andrew Kelly | ReutersThe Supreme Court ruled Thursday that the funding structure of the Consumer Financial Protection Bureau is legal.The court in a 7-2 decision rejected an...
India to become USD 4 trillion economy in FY25: Sanjeev Sanyal, ET BFSI
New Delhi: India will be a USD 4 trillion economy in 2024-25 and surpass Japan by early next fiscal to become the world's fourth largest economy, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday. Sanyal further said that...
U.S. questions China’s no-first-use nuclear call given buildup
China has not responded to U.S. nuclear-weapons risk-reduction proposals and Washington has questions about Beijing's call for no-first-use talks while China continues to build up its arsenal, the top U.S. arms control official said on Wednesday. Under Secretary of...
European Central Bank says stress in home loans manageable despite high rates, ET BFSI
Representative ImageFRANKFURT: Stress in the euro zone market for home loans is "manageable" despite higher interest rates stretching borrowers and lax checks by some banks, the European Central Bank said on Wednesday.Record high interest rates, imposed by the ECB to...
No longer in life-threatening condition
Slovakia's Prime Minister Robert Fico walks during the European Council summit at the EU headquarters in Brussels, on April 18, 2024. Kenzo Tribouillard | Afp | Getty ImagesSlovakia's populist Prime Minister Robert Fico is expected to survive a multiple-shot...
Russia-China relations are ‘stabilizing’ for world
BEIJING, CHINA - MAY 16: (RUSSIA OUT) Russian President Vladimir Putin (L) and Chinese President Xi Jinping (R) talk during a bilateral meeting on May 16, 2024, in Beijing, China. Russian President Vladimir Putin is in China for a two-day state visit. (Photo by...
Saudi-Israeli normalization obstacle is two state solution: former CIA
Gen. David Petraeus, Former CIA Director, Fmr. Central Commander and American commander in Iraq.Adam Jeffery | CNBCA two-state solution to the Israel-Palestinian conflict is "elusive" right now, according to former CIA director David Petraeus, adding that it is also...
Latest news on Russia and the war in Ukraine
Russia and China's relationship is more complicated than meets the eye, analysts sayRussia's relationship with superpower China is in the spotlight as President Vladimir Putin meets his Chinese counterpart Xi Jinping in Beijing.Both countries' ties with the West have...
Feds charge brothers in $25 million cryptocurrency heist that took 12 seconds
Jonathan Raa | Nurphoto | Getty ImagesThe Department of Justice on Wednesday announced the indictment of two brothers for allegedly stealing $25 million in cryptocurrency within roughly 12 seconds.Anton Peraire-Bueno, 24, and James Pepaire-Bueno, 28, were arrested on...
Judge rejects Hunter Biden’s bid to delay June trial on gun charges
Hunter Biden, son of U.S. President Joe Biden, arrives at the White House December 19, 2023 in Washington, DC. President Biden and family spent the weekend in Wilmington, Delaware.Drew Angerer | Getty Images News | Getty ImagesHunter Biden's federal gun case will go...
U.S., EU and NATO decry Georgia’s decision to adopt ‘Russian law’
Georgian President Salome Zurabishvili delivers a speech during an gathering celebrating Europe Day outside her residence in Tbilisi on May 9, 2024. (Photo by Vano SHLAMOV / AFP) (Photo by VANO SHLAMOV/AFP via Getty Images)Vano Shlamov | Afp | Getty ImagesGeorgian...
Netanyahu stands firm on Rafah offensive despite U.S. tensions
Watch the full interview live on CNBC here.Israeli Prime Minister Benjamin Netanyahu acknowledged tensions with historical ally the U.S. over the military offensive in Rafah in the Gaza Strip, but stood firm that the operation is required to protect Israeli...
Biden challenges Trump to two debates before election
President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22.Jim Watson and Brendan Smialowski | AFP | Getty ImagesPresident Joe Biden on Wednesday challenged...
Opening statements in corruption case
U.S. Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., May 14, 2024. Brendan Mcdermid | ReutersProsecutors and defense attorneys...
Biden signs bill banning imports of Russian uranium for nuclear fuel
Ready-to-ship canisters filled with enriched uranium at the Urenco USA uranium enrichment facility near Eunice, New Mexico, US, on Tuesday, July 11, 2023. Russia's invasion of Ukraine is forcing the US and Europe to search for alternative sources of enriched uranium...
TikTok creators sue U.S. government, say law violates First Amendment
TikTok creators gather before a press conference to voice their opposition to the "Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S.,...
Trump jet clipped parked plane after landing in Florida, FAA says
The plane of former US president Donald Trump takes off from Palm Beach International Airport in West Palm Beach, Florida, on April 3, 2023.Chandan Khanna | AFP | Getty ImagesThe wing of the Boeing jet owned by former President Donald Trump struck a parked plane at a...
Trump oil CEOs dinner: House Democrat probe
Rep. Jamie Raskin (D-MD) speaks during a House Committee on Oversight and Accountability hearing on Capitol Hill in Washington, DC, on September 28, 2023.Mandel Ngan | AFP | Getty ImagesThe House Oversight Committee's top Democrat asked oil executives to reveal...
Russia wants 3 things from China, says FPRI
Russian President Vladimir Putin's meeting with Chinese leader Xi Jinping in China this week is the latest sign of deepening strategic ties between both sides. Putin will make a two-day state visit to China from Thursday at the invitation of Xi, it was announced on...
Latest news on Russia and the war in Ukraine
Putin pitches the West as Russia's and China's mutual enemy ahead of talks with XiRussia's President Vladimir Putin has pitched the West and what he called "U.S.-led Western elites" as a mutual enemy of Russia and China, ahead of a two-day visit to Beijing where he...
India’s sticky inflation gives RBI reason to stay on hold, ET BFSI
India’s steady inflation and the threat of rising food prices will probably keep the central bank on hold for longer, with economists pushing out their expectations for interest rate cuts to later in the year.Consumer prices rose 4.83% in April from a year earlier,...
U.S. energy panel agrees to expand transmission of renewable power
Federal energy regulators on Monday approved a long-awaited rule to make it easier to transmit renewable energy such as wind and solar power to the electric grid — a key part of President Joe Biden's goal to eliminate carbon emissions economy-wide by 2050.The rule,...
China is engaged in ‘deliberate’ efforts to undermine the U.S. and Europe, says EU envoy Gitenstein
Mark Gitenstein, the U.S. ambassador to the EU, said China is deliberately distorting markets with a glut of cheap goods.Speaking to CNBC's Silvia Amaro on Tuesday, Gitenstein said China was "engaged in a deliberate effort to undermine economic sectors in both Europe...
Prosecutors ask judge to lift jail stay
Former US President Donald Trump's adviser Steve Bannon, who stands accused of fraud over funds raised to support the construction of US-Mexico border wall, attends a hearing in Manhattan, New York on January 12, 2023.Fatih Aktas | Anadolu Agency | Getty ImagesFederal...
Michael Cohen testifies, House Speaker Johnson watching
Michael Cohen is questioned by prosecutor Susan Hoffinger during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state court in New York...
Georgia passes Russia-style law on foreign influence despite protests
Georgian demonstrators protesting the controversial "foreign influence" bill stand in front of law enforcement officers blocking an area near the parliament building in Tbilisi on May 14, 2024.Vano Shlamov | Afp | Getty ImagesGeorgian lawmakers on Tuesday passed a...
Biden raises China tariffs on EVs, solar panels, batteries
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022.Kevin Lamarque | ReutersThe Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese...
What are RBI’s revised guidelines for custodian banks under T+1 settlement regime?, ET BFSI
The Reserve Bank of India (RBI) has revised guidelines for custodian banks pertaining to the issuance of Irrevocable Payment Commitments (IPCs) in response to the implementation of the T+1 settlement regime for stocks. Under these updated guidelines, custodian banks...
Wholesale inflation in April quickens to 13-month high of 1.26% on spikes in power, food prices, ET BFSI
India's wholesale price index-based inflation accelerated to 1.26 per cent in April on an annual basis as against 0.53 per cent in March, at a 13-month high, data from the Commerce Ministry on Tuesday showed.A Reuters poll showed that WPI inflation for April was...
U.S. orders Chinese-backed crypto miner to sell land near military base
US Treasury Secretary Janet Yellen delivers remarks at the Treasury Department's Committee on Foreign Investment in the United States conference at the Treasury Department in Washington, DC, on September 14, 2023. Olivier Douliery | Afp | Getty ImagesU.S. President...
India’s sticky inflation gives RBI reason to stay on hold, ET BFSI
India’s steady inflation and the threat of rising food prices will probably keep the central bank on hold for longer, with economists pushing out their expectations for interest rate cuts to later in the year.Consumer prices rose 4.83% in April from a year earlier,...
Latest news on Russia and the war in Ukraine
Ukraine derails Russian freight train in drone attack, Russian mediaA Ukrainian drone attack derailed a freight train and sparked a fire in a diesel tank in the southern Russian region of Volgograd, mangling several hundred meters of track, Russian media said on...
RBI’s investment in IIFC UK subsidiary fell by a fifth in FY23-24, ET BFSI
The RBI's investment in the state-owned India Infrastructure Finance Company (IIFC) UK subsidiary fell by a fifth from a year earlier to $932 million in FY’2023-24, according to the latest Half Yearly Report on Management of Foreign Exchange Reserve released on...
Judge scolds lawyers over ‘gamesmanship’
Senator Robert Menendez arrives at the federal courthouse in Manhattan, New York, United States on May 13, 2024. Fatih Aktas | Anadolu | Getty ImagesA judge on Monday admonished attorneys for playing legal games shortly after they convened for the start of the federal...
10 states with the most money
U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersThe Biden administration has announced $537 billion in infrastructure...
Yellen says Chinese response possible on expected U.S. tariff action
U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. Kent Nishimura | Getty ImagesThe United States could see a significant response...
Republican donors fund group doxxing pro-Palestinian students
A truck with a "Fire Gay" message drives through Harvard Square. The congressional testimony of Harvard University president Claudine Gay has caused a stir on campus on Dec 10th. 2023.Pat Greenhouse | Boston Globe | Getty ImagesA far-right activist group that is...
U.S.’ Blinken criticizes Israel’s Gaza operations
U.S. Secretary of State Antony Blinken is welcomed by Israeli Ambassador to the U.S. Mike Herzog, as he arrives at Ben Gurion Airport near Tel Aviv, Israel, April 30, 2024. Evelyn Hockstein | ReutersU.S. Secretary of State Antony Blinken issued harsh words for Israel,...
Michael Cohen testifies against former president
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Thousands in Georgia’s capital protest Russia-style foreign agents law
Police Force attend a protest against the foreign agents law as two Americans and one Russian citizen are among 20 detained on May 13, 2024 in Tbilisi, Georgia.Daro Sulakauri | Getty Images News | Getty ImagesThousands of people took to the streets of Georgia's...
How will RBI’s new finance norms impact real estate projects?, ET BFSI
The Reserve Bank of India's (RBI) proposed guidelines on project financing could potentially impact shareholders, particularly in the infrastructure and real estate sectors. The draft norms suggest that banks should set aside provisions of up to 5% of the loan amount...
Catalan separatists lose majority as Spain’s pro-union Socialists win regional elections
Six years after plunging Spain into its worst political crisis in decades, Catalonia's separatist parties are in danger of losing their hold on power in the northeastern region after the pro-union Socialist Party scored a historic result in Sunday's election.The four...
Will RBI cut rates in the MPC meeting on June 7 after election results?, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting scheduled for June 7, 2024, is set to meet in the immediate backdrop of Lok Sabha election results.However, analysts see the central bank assessing a potential interest rate cut only in the...
Latest news on Russia and the war in Ukraine
19 dead and dozens injured after strikes on Belgorod, Russian officials sayRussian officials said at least 19 people were killed and 27 injured during Ukrainian missile attacks on the border region of Belgorod this weekend.Belgorod Governor Vyacheslav Gladkov,...
BOE sends clearest sign yet of interest-rate cuts, ET BFSI
The Bank of England sent its clearest signal yet that it was closing in on interest-rate cuts, with Governor Andrew Bailey indicating markets were underpricing the pace of easing in the months ahead.The BOE governor made his comments after the UK central bank voted...
A challenging star witness in Donald Trump’s hush money trial
Michael Cohen, former attorney for Donald Trump, leaves after attending the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York City on Oct. 24, 2023.Jeenah Moon | ReutersHe once said he would take a bullet for...
Donald Trump shuts down Nikki Haley VP rumors
Combination showing Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley (L) and Former U.S. President and Republican presidential candidate Donald Trump, campaigning in New Hampshire on Jan. 23rd, 2024.ReutersDonald Trump on...
How the 45-day rule clause in I-T Act causing hurdles for MSME businesses?, ET BFSI
How the 45-day rule clause in I-T Act causing hurdles for MSMEs businesses?The 45-day rule for the MSME businesses has been in an imbroglio since it came into effect. This has happened to such an extent that the associations have moved the Supreme Court, urging its...
RBI looks at asset reconstruction companies amid a flood of allegations, ET BFSI
India’s central bank leadership is scheduled to meet the top management of asset reconstruction companies (ARC) next week to discuss corporate governance and stressed-asset resolutions amid concerns of potential back-door entry by defaulting promoters, people with...
R Lakshmi Kanth Rao apointed as RBI’s Executive Director, ET BFSI
The Reserve Bank of India (RBI) on Friday appointed of R. Lakshmi Kanth Rao as Executive Director (ED). It said that the appointment will be effective from May 10 (Friday) itself.Prior to being promoted as ED, Rao was serving as Chief General Manager-in-Charge in the...
Biden and Netanyahu’s fraught relationship hits new low
Israeli army main battle tanks and other military vehicles are positioned in southern Israel near the border with the Gaza Strip on May 9, 2024, amid the ongoing conflict in the Palestinian territory between Israel and the Hamas movement.Ahmad Gharabli | AFP | Getty...
Trump White House aide Steve Bannon contempt of Congress conviction upheld
Steve Bannon, former adviser to Donald Trump, arrives to federal court in Washington, D.C., U.S., on Wednesday, March 16, 2022.Ting Shen | Bloomberg | Getty ImagesA federal appeals court on Friday upheld the criminal contempt of Congress conviction of former Trump...
Top White House aide resumes testimony in hush money case
Madeleine Westerhout, a former Trump executive assistant, departs Manhattan Criminal Court on May 09, 2024 in New York City.Michael M. Santiago | Getty ImagesThis is developing news. Check back for updates throughout the day.A former top White House aide with deep...
RBI’s project finance norms to prepare banks to move to ECL regime say experts, ET BFSI
The Reserve Bank of India (RBI) released draft guidelines on project finance provisions on May 3, aiming to prepare the banking industry for a transition from the current incurred loss based provisioning model to the expected credit loss (ECL) regime, taking advantage...
Latest news on Russia and the war in Ukraine
Russia ramps up ground attacks in eastern Ukraine ahead of the arrival of Western military aidUkrainian soldiers prepare a mortar in the direction of Chasiv Yar as the war between Russia and Ukraine continues in Donetsk Oblast, Ukraine on May 7, 2024.Anadolu | Anadolu...
Appeals court refuses to toss Delaware case
Hunter Biden, son of U.S. President Joe Biden, arrives for a closed deposition with members of the Republican-led House Oversight Committee conducting an impeachment inquiry into the president, at the O'Neill House Office Building in Washington, U.S., February 28,...
Trump Media investor convicted of insider trading ahead of merger
Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023.Amr Alfiky | ReutersA federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in...
Supreme Court rules against Warner Music in copyright damages case
Flo Rida performs onstage at the Teen Choice Awards on Sunday, July 22, 2012, in Universal City, Calif. (Photo by John Shearer/Invision/AP)John ShearerThe U.S. Supreme Court on Thursday ruled in favor of a Miami music producer in a legal fight with Warner Music over a...
Stormy Daniels resumes testimony in hush money case
Former US President Donald Trump speaks to the press before his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 9, 2024.Angela Weiss | ReutersThis is developing news. Check back...
Corporate leaders and wealthy donors want a say
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersFormer President Donald Trump and people close to him are fielding calls from corporate leaders...
Biden says U.S. won’t supply weapons for Israel to attack Rafah, in warning to ally
U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersPresident Joe Biden said Wednesday that he would not supply offensive...
What’s the new RBI proposal giving cold sweats to lenders?, ET BFSI
For quite some time, the Reserve Bank of India (RBI) has been warning against incipient risks in banking. Its hard-hitting actions against HDFC, Paytm, Bajaj Finance and recently against Kotak Mahindra Bank for various non-compliances and regulatory laxities have...
European Union will soon get a new leadership team. Here are the names
European Commission President Ursula von der Leyen has pushed for a policy of derisking from China.Frederick Florin | Afp | Getty ImagesBRUSSELS, Belgium — European diplomats have already started key negotiations on who will take the main jobs at the European Union...
INDIA RUPEE-Rupee ticks higher on inflows, importer dollar demand caps gain, ET BFSI
By Jaspreet KalraMUMBAI, - The Indian rupee rose slightly on Thursday aided by likely dollar inflows, even as most Asian currencies slipped amid a rise in U.S. bond yields.The rupee was at 83.49 against the U.S. dollar as of 11:45 a.m. IST, against its close at...
Latest news in Russia and the war in Ukraine
Russia 'will not allow anyone to threaten us,' Putin tells Victory ParadeRussian President Vladimir Putin watches a military parade on Victory Day, which marks the 77th anniversary of the victory over Nazi Germany in World War Two, in Red Square in central Moscow,...
RBI talks UPI scale-up with companies, BFSI News, ET BFSI
Mumbai: Payments for minors and senior citizen-friendly features were some of the proposals discussed during a meeting convened by RBI with UPI players.RBI governor Shaktikanta Das on Wednesday convened a meeting of banks, leading third-party UPI apps, and NPCI. Banks...
Former MGM Grand casino president to be sentenced over illegal bets
Resorts World Las Vegas President Scott Sibella speaks during the opening of Resorts World Las Vegas on June 24, 2021 in Las Vegas, Nevada. Ethan Miller | Getty ImagesThe former president of the MGM Grand casino in Las Vegas is set to be sentenced Wednesday afternoon...
RBI Governor meets UPI stakeholders to discuss expansion potential, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, held a meeting on Wednesday with the major stakeholders in the UPI ecosystem such as Banks, National Payments Corporation of India (NPCI), Third Party Application Providers and Technology Service Providers....
Georgia appeals court will hear Trump bid to disqualify D.A. Fani Willis in election case
Fani Willis, the district attorney of Fulton County, Georgia, photographed on Sept. 20, 2022, and former President Donald Trump, photographed on Aug. 8, 2023.Scott Eisen | Getty ImagesA Georgia appeals court Wednesday agreed to hear a bid by Donald Trump to disqualify...
World Bank India chief, ET BFSI
World Bank’s Country Director for India, Dr Auguste Tano KouaméThe World Bank’s Country Director for India, Dr Auguste Tano Kouamé, on Wednesday said that for the 8% growth rate for India, there is a need for increase in the private investment apart from the public...
Trump classified documents trial in Florida postponed indefinitely
Republican presidential candidate and former U.S. President Donald Trump gestures while he walks with his attorney Todd Blanche, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016...
How RBI is easing banking liquidity amid election slowdown in govt spending, ET BFSI
The Reserve Bank of India (RBI) is taking steps to address liquidity constraints within the banking system, as the ongoing 2024 national elections, spanning over six weeks, have led to a slowdown in government spending despite robust tax collections.With voting...
Biden to unveil $3.3 billion Microsoft AI investment in battleground Wisconsin
Construction at Foxconn complex in Mt. Pleasant, Wisconsin in August 2020.Brian Snyder | ReutersPresident Joe Biden will visit the political battleground state of Wisconsin on Wednesday to announce plans by Microsoft Corp to build a $3.3 billion high-tech data center...
RBI’s latest norms may derail Modi govt’s flagship economy driver, ET BFSI
A wary Reserve Bank of India will likely enforce a rule that could dampen the spirits of India’s capital expenditure momentum, a highlight of the Narendra Modi government’s tenure at the Centre.RBI has issued draft guidelines asking lenders in India to increase their...
CEA V Anantha Nageswaran, ET BFSI
CEA with other dignitaries at an event organised by NCAER in New Delhi.NEW DELHI: Chief Economic Adviser (CEA) V Anantha Nageswaran bets on the high possibility of India’s 8% growth rate in the Financial Year 2024. At an event organised by NCAER in New Delhi, the CEA...
U.S. probe finds widespread sexual misconduct at FDIC
Federal Deposit Insurance Corporation (FDIC) building is seen in Washington DC, United States on April 2, 2023.Celal Gunes | Anadolu Agency | Getty ImagesThe Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and...
Govt evaluating RBI proposal for higher infrastructure provisioning; bankers, NBFCs voice concern, ET BFSI
New Delhi|Mumbai: The government is evaluating Reserve Bank of India draft rules calling for higher provisioning in infrastructure projects, while lenders are likely to oppose them on multiple forums. Officials cited concerns that they could lead to a rise in interest...
U.S. paused shipment of weapons to Israel to head off Rafah invasion, says official
Israeli army tanks take position in southern Israel near the border with the Gaza Strip on May 7, 2024, amid the ongoing conflict between Israel and the Palestinian Hamas movement. Menahem Kahana | Afp | Getty ImagesU.S. President Joe Biden's administration paused...
India sees no ‘nasty’ upside to inflation, govt adviser says, BFSI News, ET BFSI
NEW DELHI -India does not see any nasty upside to inflation at the moment, and expects its economy to expand by more than 7% in the current fiscal year, V. Anantha Nageswaran, the government's chief economic adviser, said on Wednesday.Annual retail inflation rate...
India’s growth can top 6.5% for a decade, says CEA Nageswaran, ET BFSI
Chances are “quite high” that India’s growth exceeded 8% in the fiscal year that ended in March and the economy will likely expand more than 7% in the current financial year, he said. The rainfall pattern in the months ahead will be crucial for the growth outlook, he...
Latest news on Russia and the war in Ukraine
Russia used more than 50 missiles and 20 drones in overnight attacks, Zelenskyy saysRussia used dozens of missiles and drones to attack Ukraine's infrastructure overnight, Ukraine's President Volodymyr Zelenskyy said Wednesday morning."More than 50 rockets and more...
LockBit ransomware indictment and reward for Russian
Zoom In IconArrows pointing outwardsDmitry Yuryevich Khoroshev, Russian national and a leader of LockBit. Courtesy: U.S. Department of the TreasuryFederal prosecutors on Tuesday announced criminal charges against a Russian national, Dmitry Yuryevich Khoroshev, for...
SEC Chair Gensler dodges Trump Media campaign finance questions
Securities and Exchange Commission Chair Gary Gensler on Tuesday refused to comment on speculation of whether Trump Media is a funding organ for Donald Trump's presidential campaign."I'm not going to speak on any one company," Gensler said in an interview on CNBC's...
Biden set to meet with executives from Citi, United Airlines & others
US President Joe Biden speaks about his Investing in America agenda at the Wilmington Convention Center in Wilmington, North Carolina, on May 2, 2024. Mandel Ngan | AFP | Getty ImagesPresident Joe Biden is set to meet Tuesday afternoon with a slate of executives from...
RBI tanks up on 18.5 tonnes of gold in Jan-Mar, exceeding 2023 tally, ET BFSI
Global central banks continued to bolster their gold reserves in March, with significant purchases led by emerging market banks, according to data from the World Gold Council (WGC). Central banks collectively added 16 tonnes of gold to their reserves during the month,...
Ex-president posts — then deletes — message about witnesses
Republican presidential candidate and former U.S. President Donald Trump sits in the courtroom, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court...
Trump trial witness David Pecker targeted by ‘swatting’ at his home, Reuters reports
Former National Enquirer publisher David Pecker speaks from the witness stand during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state...
Will RBI’s draft guidelines on project financing tighten infra funding?, ET BFSI
The Reserve Bank of India (RBI) has proposed draft guidelines on project financing that could significantly impact lenders by imposing heightened provisioning requirements. Under these guidelines, lenders would be required to set aside provisions of up to 5% of...
Abortion bans drive away young talent: New CNBC/Generation Lab survey
Young people are seen on the Emory University campus in Atlanta, Georgia on October 14, 2022. Elijah Nouvelage | AFP | Getty ImagesThe youngest generation of American workers is prepared to move away from states that pass abortion bans and to turn down job offers in...
Worries build up over RBI strictures on infra financing, BFSI News, ET BFSI
Mumbai: Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India's tougher draft guidelines on the financing and accounting of project loans. The proposed stricter...
Private digital currencies potentially dangerous, CBDC a safer alternative: RBI Governor, ET BFSI
Reserve Bank of India Governor Shaktikanta DasReserve Bank of India Governor Shaktikanta Das said on Monday that Central Bank Digital Currency (CBDC) or digital currency, can drive financial inclusion and provide a much safer alternative to potentially dangerous...
Latest news on Russia and the war in Ukraine
China says Russia should be included in upcoming Ukraine peace summitChina's ambassador to Russia told Russian media Tuesday that Moscow should be included in a forthcoming Ukraine peace summit to be held in Switzerland.Ambassador Zhang Hanhui told RIA Novosti that...
Six-week long election leaves RBI with liquidity dilemma, ET BFSI
RBI is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending despite strong tax collections.Voting in national elections began on April 19 and will conclude on June 1, with counting...
Israeli forces take control of the Gaza side of the Rafah border crossing with Egypt
Smoke billows after Israeli bombardment in Rafah, in the southern Gaza Strip on May 6, 2024, amid the ongoing conflict between Israel and the Palestinian militant group Hamas.- | Afp | Getty ImagesAn Israeli tank brigade seized control Tuesday of the Gaza Strip side...
Rupee flat as traders remain wary of central bank intervention at weaker levels, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was little changed on Tuesday as traders remained shy of pushing the local currency to weaker levels on expectations that the Reserve Bank of India (RBI) would intervene to prevent a sharp fall.The rupee was at 83.4750...
Hamas says it accepts cease-fire proposal from Egyptian, Qatari mediators
Chairman of the Hamas Political Bureau, Ismail Haniyeh speaks to press as he pays a visit to Palestinian photojournalist Ashraf Amra, a freelancer for Turkiye's premier news agency Anadolu who was severely injured on his hand by Israeli army fire while covering a...
RBI working to make digital currency accessible without internet: Guv Das, ET BFSI
RBI working to make digital currency accessible without internet: Guv DasThe Reserve Bank of India (RBI) is working to make its digital currency available without being dependent on internet access, Governor Shaktikanta Das said on Monday. While speaking at the BIS...
Trump Media hires new auditor after accounting firm charged with fraud
Omar Marques | Lightrocket | Getty ImagesTrump Media hired a new auditor over the weekend, after its previous public accounting firm was accused Friday of perpetrating a massive fraud by the Securities and Exchange Commission.The Truth Social owner fired BF Borgers...
Trump trial resumes after week of tears, gag order threats
Former US President Donald Trump attends the first 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 15, 2024.Angela Weiss | AFP | Getty ImagesThis is developing news....
Putin orders tactical nuclear weapon drills to deter the West
Russian President Vladimir Putin delivers a speech during а meeting of the Federal Assembly's Council of Legislators in Saint Petersburg, Russia, April 26, 2024.Alexey Danichev | Via ReutersRussia said on Monday it would practise the deployment of tactical nuclear...
Why RBI’s dividend payout to govt this year will be lower, ET BFSI
The Reserve Bank may transfer a lesser dividend to the government for FY'2023-24 compared to previous year's bumper Rs 87416 crore. An explainer on why the dividend will be lower. The budget estimates dividend transfer in FY'2024-25 at Rs 1.02 lakh crore from the...
Trump's porn star hush-money trial enters week four: Here’s what’s happened so far
Trump's historic criminal trial enters week four.
Home loan outstanding up by Rs 10 lakh crore in last two years: RBI data, ET BFSI
NEW DELHI: Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'.Experts from banking and real estate...
UPDATE 1-India’s 6-week long national election leaves cenbank with liquidity dilemma, ET BFSI
(Recasts paragraph 1, updates with comments from economists, background)MUMBAI, - India's central bank is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending despite strong tax...
Israeli military tells Palestinian civilians in parts of Rafah to ‘evacuate immediately’
Children stand outside their tents at a camp set up for people displaced from Khan Yunis and areas north of Rafah, in the southern Gaza border city with Egypt on Feb. 15, 2024, amid continuing battles between Israel and the Palestinian Hamas movement. Mohammed Abed |...
Trump VP hopeful Kristi Noem suggests Biden’s dog should be put down
South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Shannon Stapleton | ReutersRepublican South Dakota Gov. Kristi Noem implied that President Joe...
China’s president arrives in Europe to reinvigorate ties at a time of global tensions
Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. Ludovic Marin | AFP | Getty ImagesChinese President Xi Jinping kicked off a three-country trip to Europe on Sunday with the...
Netanyahu’s Cabinet votes to close Al Jazeera offices in Israel
(EDITORS NOTE: Image depicts death.) Wael Al-Dahdouh, Al Jazeera bureau chief in Gaza, center, comforts relatives at the funeral of his son, Al Jazeera journalist Hamza Dahdouh, killed in an Israeli airstrike, in Rafah, southern Gaza, on Sunday, Jan. 7, 2024. US...
France’s Macron set to press visiting Xi on trade, Ukraine
Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. Ludovic Marin | AFP | Getty ImagesChina's President Xi Jinping heads to Paris on Sunday for a rare visit, with his French...
Labour’s Sadiq Khan wins re-election as London mayor
Mayor of London Sadiq Khan hopes to convince U.S. tech firms to invest more in London.Leon Neal | Getty ImagesSadiq Khan was re-elected as London's mayor, final results showed on Saturday, helping to cement the Labour Party's commanding lead over the governing...
Why election polls were wrong in 2016 and 2020 — and what’s changing
Voters fill out their ballots on January 23, 2024 in Loudon, New Hampshire. With Florida Governor Ron DeSantis dropping out of the race two days earlier, Republican presidential candidates former President Donald Trump and former UN Ambassador Nikki Haley are battling...
RBI directs banks to restrict capital market exposure, BFSI News, ET BFSI
New Delhi [India], May 3 (ANI): The Reserve Bank of India (RBI) has issued directives to banks regarding their exposure to the capital markets, emphasizing compliance with prescribed guidelines. The latest circular, pertains specifically to the "Banks' Exposure to...
RBI imposes monetary penalty on Satara Sahakari Bank Limited, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has taken stringent action against The Satara Sahakari Bank Limited, Mumbai, Maharashtra, by imposing a monetary penalty of Rs 2 lakh for non-compliance with certain provisions of the Banking Regulation Act, 1949 (BR Act) and RBI...
Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity, ET BFSI
Mumbai: In a move that will ease the prevailing tight liquidity conditions in the banking system, the Reserve Bank of India on Friday said the Centre plans to buy back Rs 40,000 crore worth of government securities on May 9, the first such repurchase since 2018.The...
RBI issues draft guidelines on infrastructure finance, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has proposed to overhaul rules governing project lending to enable the flow of funds to infrastructure and, at the same time, ensure that the risk metrics are under control. It has stipulated minimum exposure of banks in consortium...
Centre for Financial Accountability urges RBI to broaden scope of climate-related financial risk framework, ET BFSI
In response to the Reserve Bank of India's (RBI) 'Draft Disclosure Framework on Climate-Related Financial Risks' released in February 2024, the Centre for Financial Accountability (CFA) has advocated for an expanded approach to assessing and addressing climate-related...
RBI proposes minimum loan exposure for project finance by banks, ET BFSI
The Reserve Bank of India (RBI) unveiled draft guidelines on project financing aimed at enhancing transparency and risk management in consortium lending, proposing a minimum loan exposure floor for banks and mandated standards for asset provisioning during project...
Guo Wengui chief of staff pleads guilty to $1 billion fraud
Fugitive Chinese billionaire Guo Wengui hold a news conference on November 20, 2018 in New York, on the death of of tycoon Wang Jian in France on July 3, 2018.Don Emmert | AFP | Getty ImagesThe chief of staff to controversial exiled Chinese businessman Guo Wengui...
Trump Media auditor charged by SEC with ‘massive fraud,’ permanently barred from public company audits
Rafael Henrique | Lightrocket | Getty ImagesThe auditing firm for Trump Media and the auditor's owner were charged Friday with "massive fraud" by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator...
Trump trial resumes after infamous Cohen phone call tape is played for jury
Former U.S. President Donald Trump attends the first day of his trial for allegedly covering up hush money payments at Manhattan Criminal Court on April 15, 2024 in New York City. Angela Weiss | Getty ImagesThis is developing news. Check back for updates throughout...
Forget any rate cut in 2024! What experts are predicting after Fed meeting, ET BFSI
Global stock markets heaved a sigh of relief last night when the world's most powerful central banker Jerome Powell assured investors that it is unlikely for the US Federal Reserve to go for a rate hike. After the Dow Jones ended higher overnight, the Sensex was also...
Trump SEC would end climate disclosure rule, target ESG investments
Republican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersThe Securities and Exchange Commission under a second Donald Trump presidency would roll back the...
Latest news on Russia and the war in Ukraine
German foreign minister says there will be consequences for Russian cyberattackAnnalena Baerbock (Alliance 90/The Greens), Foreign Minister, looks at a screen displaying a cyber exercise in the Australian Center for Cyber Cooperation.Sina Schuldt | Picture Alliance |...
Britain’s ruling Conservatives hit with another local defeat as general election nears
New Labour Party MP for Blackpool South, Chris Webb (C) reacts as his win is announced at the count centre in Blackpool, north-west England on May 3, 2024, during the Blackpool South by-election. Oli Scarff | Afp | Getty ImagesU.K. leader Rishi Sunak's Conservative...
RBI says 97.76% of Rs 2000 currency notes returned, BFSI News, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public.On May 19, 2023, the RBI announced the...
Trump campaign lawyers can’t quit workplace discrimination case
Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally at Ted Hendricks Stadium in Hialeah, Florida, U.S. November 8, 2023. Octavio Jones | ReutersA New York federal judge on Thursday rejected — for now, at least — a request by...
U.S. intelligence chief warns Congress of rise in cyberattacks
Director of National Intelligence Avril Haines testifies before the Senate Armed Services Committee May 2, 2024 in Washington, DC.Win Mcnamee | Getty Images News | Getty ImagesThe top U.S. intelligence official warned Congress of an alarming rise in cyberattacks at a...
Trump Media IDs firms for House short selling probe
Omar Marques | Lightrocket | Getty ImagesThe CEO of Trump Media urged leading House committee chairmen to investigate eight financial firms over concerns of potentially illicit short selling of DJT, whose majority shareholder is former President Donald Trump."I...
Lawyer behind Stormy Daniels hush money payment testifies
Republican presidential candidate and former U.S. President Donald Trump walks, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court in New York...
‘Basel III’ bank rules could pose unexpected threat to Biden’s green energy plans
WASHINGTON, D.C. - On a rooftop overlooking Gallaudet University in Washington, D.C., Julian Torres stands next to row after row of solar panels his company, Scale Microgrids, helped install as part of a larger system of renewable energy that has saved the college...
Biden blames China, Japan and India’s economic woes on ‘xenophobia’
President Joe Biden said on Wednesday that "xenophobia" from China to Japan and India is hobbling their growth, as he argued that migration has been good for the U.S. economy.Kevin Lamarque | ReutersPresident Joe Biden said on Wednesday that "xenophobia"...
U.S. issues hundreds of sanctions targeting Russia, takes aim at Chinese companies
Ukrainian servicemen ride on an armored personnel carrier in a field near Chasiv Yar, Donetsk, on April 27, 2024, amid the Russian invasion of Ukraine. Genya Savilov | Afp | Getty ImagesThe United States on Wednesday issued hundreds of fresh sanctions targeting Russia...
Trump’s potential VP picks and major Republican donors are coming to Mar-a-Lago
Former U.S. President Donald Trump delivers remarks on the day of his court appearance in New York after being indicted by a Manhattan grand jury following a probe into hush money paid to porn star Stormy Daniels, in Palm Beach, Florida, U.S., April 4, 2023. Marco...
Lenders seek RBI clearance to sell Jaiprakash Associates loan to NARCL, ET BFSI
Mumbai: Lenders led by the State Bank of India have sought approval from the Reserve Bank of India to sell the ₹18,000 crore debt of realty company Jaiprakash Associates (JAL) to the National Asset Reconstruction Company of India (NARCL), said people with knowledge of...
Fed cites lack of progress on inflation, holds rates steady, ET BFSI
Washington: The Federal Reserve signaled fresh concerns about inflation as it reaffirmed it needs more evidence that price gains are cooling before cutting interest rates from a two-decade high.Officials unanimously decided to leave the target range for the benchmark...
Latest news on Russia and the war in Ukraine
Georgian police disperse protesters as parliament approves 'foreign bill' second readingDemonstrators set up a barricade to block the side entrance of Georgian Parliament during a rally against a controversial "foreign influence" bill, after parliament advanced the...
Trump campaign lawyers seek to quit discrimination case
Presidential candidate Donald Trump gestures in a press conference unveiling his comprehensive tax reform plan at Trump Tower. Andy Katz | Lightrocket | Getty ImagesA federal judge in New York scheduled a closed-door meeting Wednesday afternoon on a request by lawyers...
Harvey Weinstein will be retried in New York after rape conviction overturned
Harvey Weinstein uses a walker as he arrives at the Manhattan Criminal Court, on January 7, 2020 on the second day of his criminal trial on charges of rape and sexual assault in New York City.Timothy A. Clary | AFP | Getty ImagesHarvey Weinstein will be retried in New...
DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
Nicolas Economou | Nurphoto | Getty ImagesThe Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor named Roger Ver. He came to be known as "Bitcoin Jesus," for getting in early on the digital currency and making a...
DJT shares crack $50 as Trump Media continues stock bounce back
Former US president Donald Trump announced plans on October 20 to launch his own social networking platform called "TRUTH Social," which is expected to begin its beta launch for "invited guests" next month.Chris Delmas | AFP | Getty ImagesTrump Media shares opened...
Trump could drive inflation up with second-term economic agenda, analysts say
Republican presidential candidate former President Donald Trump speaks to guests during a rally at Clinton Middle School on January 06, 2024 in Clinton, Iowa. Scott Olson | Getty Images News | Getty ImagesFormer President Donald Trump is building a second-term...
Trump receives 36 million more shares of Trump Media as bonus
Republican presidential candidate and former U.S. President Donald Trump gestures as he arrives to Trump tower during the day of his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in New York...
Ex-RBI Guv Duvvuri Subbarao, ET BFSI
Former RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance...
Trump Media insider trading trial begins in New York
Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023.Amr Alfiky | ReutersThe federal criminal trial of a man accused of insider trading in shares of a shell company ahead of its announcement of a plan to merge with...
New York City police arrest dozens of pro-Palestinian protesters in Columbia University raid
NYPD officers arrest students as they evict a building that had been barricaded by pro-Palestinian student protesters at Columbia University, in New York City on April 30, 2024.Charly Triballeau | AFP | Getty ImagesNew York City police arrested dozens of...
Central bank bars P2P startups from giving default loss guarantee in tie-ups with NBFCs, ET BFSI
The central bank has said peer-to-peer lending platforms cannot offer any default loss guarantee (DLG) to investors, as it furthers scrutiny on the digital lending sector.The Reserve Bank of India’s directive dated April 26 is likely to impact operations of P2P...
police crack down on protests in Georgia
Protestors clash with the police as they block the exists of the parliament building to prevent the ruling Georgian Dream Party's deputies from leaving within a protest against the bill on 'Transparency of Foreign Influence,' in Tbilisi, Georgia on April 30, 2024....
RBI updates guidance note on operational risk management, extends it to NBFCs, ET BFSI
The Reserve Bank on Tuesday updated its "guidance note" on operational risk management for the financial sector, and also extended it to the NBFCs, including housing finance companies. The 2005 'Guidance Note on Management of Operational Risk' covered only commercial...
RBI cautions banks on gold loan disbursals through fintech startups, ET BFSI
The Reserve Bank of India (RBI) has cautioned banks about gold loan disbursals being made through fintech startups, according to people familiar with the matter. The central bank has flagged “concerns with the evaluation process” by these banks and fintechs,...
Latest news on Russia and the war in Ukraine
Russia could be shifting focus onto strategic target, Chasiv YarRussian forces appear to be shifting their operational focus on to Chasiv Yar in the northern area of Donetsk, in eastern Ukraine.Russia did not make any confirmed advances in the Avdiivka area for the...
Trump Media shares rise again; are up 50% in the last week
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares climbed 7% Tuesday, continuing a rise that has seen the Truth Social owner surge about 50% in the past week.DJT was trading at roughly $50 a share, about 30% below its opening price of $70.90 in late March.The...
Biden replaces Obama infrastructure policy amid Chinese cyberthreats
US President Joe Biden speaks after signing the foreign aid bill at the White House in Washington, D.C., on April 24, 2024.Jim Watson | AFP | Getty ImagesPresident Joe Biden on Tuesday updated a more than decade-old policy to protect U.S. critical infrastructure...
Hush money case resumes with testimony from Michael Cohen banker
Former U.S. President Donald Trump speaks to members of the media at Manhattan criminal court in New York, U.S., on Friday, April 26, 2024. Curtis Means | Via ReutersThis story is developing. Check back for updates throughout the day.The New York criminal trial of...
Save lakhs in interest cost? What RBI’s new rules for interest overcharging on loans mean for borrowers, ET BFSI
Has your lender been overcharging you interest for loans? The Reserve Bank of India has come across instances of lenders resorting to certain unfair practices in charging of interest. The same has been flagged by the central bank in a new notification dated April 29,...
RBI issues draft framework for electronic trading platforms, BFSI News, ET BFSI
The Reserve Bank of India on Monday proposed a revised regulatory framework for Electronic Trading Platforms (ETPs) in the wake of increased integration of the onshore forex market with offshore markets. Market makers too have been requesting the Reserve Bank to allow...
RBI directs lenders to review their lending practices in line with fair practice code, ET BFSI
The Reserve Bank of India (RBI) on Monday directed regulated entities to review their lending practices in line with fair practice code after it found that some lenders are resorting to certain unfair practices in charging interest rates, a statement issued by the...
RBI launches two key surveys for monetary policy inputs, BFSI News, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) on Monday announced the launch of 'Inflation Expectations Survey of Households' and 'Consumer Confidence Survey' which will provide key inputs for the bi-monthly monetary policy. The next bi-monthly monetary policy is scheduled...
Understanding the impact on MSMEs, startups & other sectors, ET BFSI
Evergreen loans pose a systemic risk to the financial system. These are essentially loans that are perpetually renewed, preventing genuine repayment and masking potential defaults.In scaling up any business, the initial hurdle often revolves around the requirement for...
Latest news on Russia and the war in Ukraine
Russia likely used ballistic missile with cluster warhead in Odesa attack, official saysRussian forces used an Iskander missile armed with a cluster warhead to carry out the deadly strike on a crowded seaside area of Odesa on Monday, an official said.Dmytro...
Trump Media shares soar more than 12% in afternoon trading
Jonathan Raa | Nurphoto | Getty ImagesThe share price of Trump Media soared by more than 12% in afternoon trading Monday, continuing a stunning rise that began in mid-April.The DJT ticker was up more than $5 per share just before 1 p.m. ET.Trump Media owns the Truth...
Supreme Court denies Trump aide Navarro’s jail release bid
Former Donald Trump adviser Peter Navarro holds a press conference before turning himself into a federal prison on March 19, 2024, in Miami, Florida. Joe Raedle | Getty ImagesThe Supreme Court on Monday denied a request by Peter Navarro, a former advisor to...
Scottish First Minister Humza Yousaf resigns
Scottish First Minister Humza Yousaf speaks to the media during a visit to a housing development on April 26, 2024 in Dundee, Scotland. Jeff J Mitchell | Getty ImagesScottish First Minister Humza Yousaf resigned Monday after the collapse of his power-sharing agreement...
Trump VP contender Kristi Noem defends dog killing amid ridicule
South Dakota Governor Kristi Noem greets former U.S. President and Republican presidential candidate Donald Trump before he speaks at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. Jonathan Ernst | ReutersRepublican South...
Germany’s AfD is finding success on TikTok as its youth vote grows
Cardboard stands with the AfD logo lie on the chairs in the Wiesenhalle before the start of the AfD Brandenburg state party conference.Monika Skolimowska/dpa | Picture Alliance | Getty ImagesGermany's far-right Alternative für Deutschland (AfD) has gone from the...
Expectations of future monetary policy impact stock markets more than rate announcements: RBI paper, ET BFSI
MUMBAI: Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy by the Reserve Bank, said an analysis. According to a working paper prepared by RBI officials, the regulatory...
Only U.S. has the ability to break the cycle of Gaza violence: Egyptian foreign minister
Egypt's Foreign Minister Sameh Shoukry called on the U.S. to leverage its influence over Israel to prevent further bloodshed in Gaza.Speaking to CNBC's Dan Murphy on Sunday at a World Economic Forum meeting in Riyadh, Saudi Arabia, he said "only the United States has...
Powell poised to keep Fed on higher-for-longer path, ET BFSI
Jerome Powell's remarks in the coming week will be closely parsed by investors for any clues on just how long the Fed is willing to wait before cutting interest rates. The last time the US central bank chair spoke, he signaled that policymakers were likely to keep...
Latest news on Russia and the war in Ukraine
Ukraine desperate for U.S. military aid to arriveUkrainian President Volodymyr Zelenskyy gestures during a press conference on the day of the Ukraine Southeast Europe Summit in Tirana, Albania, February 28, 2024. Florion Goga | ReutersUkraine's President Volodymyr...
RBI MPC member, BFSI News, ET BFSI
New Delhi, Unemployment is highest for younger age brackets, but it is 'transient' as Indian youths spend more time acquiring skills and trying hands at entrepreneurship, RBI Monetary Policy Committee (MPC) member Ashima Goyal has said. There is steady improvement in...
RBI draft rules, ET BFSI
The Reserve Bank of India (RBI) has released a draft circular outlining a framework for loan product aggregation by lending service providers (LSPs) to enhance transparency for borrowers in the credit intermediation process. This initiative aims to address the...
Sebi allows AIFs to pledge shares in invested cos in infra sector, ET BFSI
New Delhi, To facilitate ease of doing business, markets regulator Sebi on Friday allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector. The regulator has also provided additional flexibility to AIFs and...
RBI sets rules for loan e-aggregators, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India has updated its guidelines for web aggregators of loans to ensure that consumers get a fair and transparent deal. The RBI has also clarified guidelines on loss default guarantees that can be provided by fintechs to lenders on personal...
HC asks RBI to relook at valuation, BFSI News, ET BFSI
MUMBAI: The Madras HC has asked RBI to carry out a valuation of shares and assets of DBS Bank India and Lakshmi Vilas Bank as on the date before their amalgamation in Nov 2020. RBI has been asked to take a fresh decision on reduction of the value of shares and writing...
Oil refinery in Russia region damaged in Ukraine drone attack: Authorities
Slavyansk oil refinery in Russia's Krasnodar region was damaged in a Ukraine drone attack, local authorities said on Saturday. There were a total of nine attacks on the tank farm and distillation column, Roman Siniagovskyi, head of the Slavyansk administrative...
FPI investment limit in g-sec unchanged at 6% of outstanding stocks of securities for FY25: RBI, ET BFSI
The Reserve Bank on Friday said the limits for FPI investment in government securities, state development loans and corporate bonds will remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of outstanding stocks of securities for the current...
Former Moody’s top lawyer pleads guilty in tax case
Moody's Corporation logo is photographed on the firm's headquarters in Lower Manhattan, NY. Ramin Talaie | Corbis Historical | Getty ImagesA former longtime general counsel to Moody's has pleaded guilty to willfully failing to file federal income tax returns, federal...
Trump trial: Defense continues cross-examination of National Enquirer publisher David Pecker: Live updates
Former U.S. President Donald Trump sits in the courtroom at Manhattan criminal court in New York on April 26, 2024.Jeenah Moon | Via ReutersThis is a developing story and will be updated throughout the day.Defense attorneys for former President Donald Trump continued...
Ashley Biden, in unsealed letter to judge, detailed ‘pain’ from diary theft
US social worker and daughter of the US president Ashley Biden speaks on stage during the Human Rights Campaign's 2024 Los Angeles dinner at the Fairmont Century Plaza in Los Angeles, March 23, 2024. Michael Tran | AFP | Getty ImagesAshley Biden, the daughter of...
U.S., China to hold first AI talks, TikTok stalemate ongoing
U.S. Secretary of State Antony Blinken waves as he prepares to depart Shanghai Hongqiao International Airport en route to Beijing, on April 25, 2024. Mark Schiefelbein | Afp | Getty ImagesThe U.S. and China will hold their first high-level talks on artificial...
Latest news on Russia and the war in Ukraine
China must stop supporting Russia if it wants better relations with West: NATO chiefNATO Secretary General Jens Stoltenberg speaks during a press conference at the International Monetary Fund and World Bank annual meeting in Marrakech, Morocco, October 11, 2023.Susana...
RBI crackdown on consumer credit surge set to hit bank’s co-lending of unsecured loans, ET BFSI
Banks and non-bank lenders are reassessing their personal loan portfolios, leading to a potential decline in the proportion of personal loans within overall co-lending assets under management.The Reserve Bank of India's revision in risk weight on unsecured consumer...
Pecker believed Trump would repay Playboy model hush money
Donald Trump sits in a Manhattan Criminal Courtroom with members of his legal team for the continuation of his hush money trial on April 25, 2024 in New York City. Spencer Platt | Via ReutersFormer National Enquirer publisher David Pecker on Thursday said he believed...
RBI plans curbs on suspect bank accounts to fight cyber fraud, ET BFSI
India's central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters.The plans come as internal government data shows...
Supreme Court hears Trump immunity arguments in election interference case
U.S. President Donald Trump delivers an update on the so-called Operation Warp Speed program, the joint Defense Department and HHS initiative that has struck deals with several drugmakers in an effort to help speed up the search for effective treatments for the...
Latest news on Russia and the war in Ukraine
U.K. Finance Minister Jeremy Hunt visits KyivBritish Finance Minister Jeremy Hunt met with Ukrainian President Volodymyr Zelenskyy in Kyiv, the Ukrainian leader said Thursday. "I welcomed the UK's Chancellor of the Exchequer, @Jeremy_Hunt, and thanked him for the UK's...
Speaker Johnson drowned out by crowds at Columbia speech on Gaza protests
Speaker of the U.S. House of Representatives Mike Johnson (R-LA) attends a news conference at Columbia University in response to demonstrators protesting in support of Palestinians, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in...
How did the macroeconomic indicators perform in March 2024?, ET BFSI
~ Ritesh and Shrishti SharmaThe Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) maintained its stance on the policy repo rates unchanged at 6.5 per cent for the seventh straight time in April’s RBI policy decision. Governor Shaktikanta Das discussed...
Senate launches investigation into high prices of Ozempic and Wegovy in the U.S.
The anti-diabetic medication "Ozempic" (semaglutide) made by Danish pharmaceutical company Novo Nordisk.Joel Saget | AFP | Getty ImagesThe U.S. Senate has launched an investigation into the high price of Novo Nordisk's popular weight loss and diabetes drugs Ozempic...
Chamber of Commerce sues FTC for banning noncompete clauses
FTC Chairwoman Lina Khan testifies during a budget hearing of the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce, April 18, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe U.S. Chamber of Commerce and several other business groups on...
Trump Media CEO asks House GOP to launch stock manipulation probe
Rep. Devin Nunes, R-Calif., ranking member of the House Intelligence Committee, speaks during an impeachment inquiry hearing in Washington, Nov. 13, 2019.Andrew Harrer | Bloomberg | Getty ImagesTrump Media CEO Devin Nunes on Tuesday urged House Republican committee...
Biden signs Israel, Ukraine, TikTok bill into law
President Joe Biden on Wednesday signed into law measures to provide aid to Israel, Ukraine and Taiwan, as well as to compel Chinese TikTok parent company ByteDance to sell the social media platform or face a national ban.Biden's official approval ends a six-month...
RBI raises minimum capital requirement for ARCs to begin securitization, ET BFSI
The Reserve Bank of India (RBI) on Wednesday released a compiled master direction for the asset reconstruction companies (ARCs) raising the minimum capital requirement to begin securitization to Rs 300 crore from Rs 100 crore as on October 11, 2022. Notably, the RBI...
Biden issues new rules for airlines to require automatic cash refunds, prohibit surprise fees
If an airline cancels your flight, remember that you're entitled to a full refund.Bunhill | E+ | Getty ImagesThe Biden administration on Wednesday unveiled two new rules that will directly affect the millions of Americans who fly commercially every year. The first...
RBI asks payment system operators to keep vigil on high-value and suspicious transactions, ET BFSI
As India's Lok Sabha elections unfold, the Reserve Bank of India (RBI) has taken proactive steps to safeguard the electoral process against potential financial influence. The central bank has directed non-bank payment system operators (PSOs) to heighten vigilance over...
ByteDance, TikTok spent over $7 million on lobbying, ad campaign
Omer Taha Cetin | Anadolu | Getty ImagesTikTok and its China-based parent company ByteDance combined to spend over $7 million so far this year to try and stop Congress from passing legislation that could ban the social media app in the United States.ByteDance alone...
Not activating counter-cyclical capital buffer, says RBI, BFSI News, ET BFSI
The Reserve Bank on Tuesday said it has decided against activating the countercyclical capital buffer (CCyB), as it is not needed in the present circumstances. The framework on the countercyclical capital buffer (CCyB) was put in place by the Reserve Bank of India...
FTC votes to ban noncompete clauses that bar employees from working for competitors
Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023.Kevin Wurm | ReutersThe Federal Trade Commission on Tuesday voted 3-2 for a...
RBI economists cautious as inflation risks linger, BFSI News, ET BFSI
Mumbai: A blistering summer and complex geopolitics pose near-term risks to prices and, in turn, to India’s consumer inflation gauge that has, however, come off its peak amid the average economic expansion of 8% in the first three quarters of FY24, central bank...
RBI’s dollar purchases in Feb highest since June 2021, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) bought $8.5 billion in the foreign exchange market on a net basis in February, the highest net purchase by the central bank in 32 months, latest data showed.In January, the RBI had net purchased $1.9 billion in the spot market,...
Latest news on Russia and the war in Ukraine
Court arrests Russian deputy defence minister on bribery chargesA Russian court on Wednesday formally arrested Deputy Defense Minister Timur Ivanov and charged him with bribery, the court said, following his detention on Tuesday.The court remanded Ivanov in custody...
Senate advances aid for Israel, Ukraine, Taiwan, TikTok bill
Senate Majority Leader Charles Schumer, D-N.Y., conducts a news conference after the senate luncheons in the U.S. Capitol on Tuesday, March 12, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Senate on Tuesday advanced a package to provide billions in aid to...
Trump Media shares plunge before former president’s stock bonus
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares fell 9% Tuesday ahead of an expected earnout bonus for former President Donald Trump.DJT was trading at $32 per share Tuesday afternoon, about 50% below its opening price last month of more than $70.Trump will...
Hearing on gag order violations; David Pecker testimony
Republican presidential candidate and former U.S. President Donald Trump looks on in the courtroom, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state...
Billionaire donors rethink Columbia University support
Nassau County Executive Bruce A Blakeman speaks in front of the entrance of Columbia University which is occupied by pro-Palestian protesters in New York on April 22, 2024. Charly Triballeau | AFP | Getty ImagesBillionaire donors like Robert Kraft and Leon Cooperman...
Oracle met with Senate aides on TikTok data housing project
Oracle's top lobbyist in Washington met privately with Senate aides about the company's data housing agreement with TikTok this spring, after a bill that could effectively ban the social media app in the United States passed the House in mid-March.Oracle acts as the...
AUKUS won’t trigger a nuclear arms race in the region
U.S. President Joe Biden delivers remarks on Australia, United Kingdom, United States (AUKUS) Partnership as Prime Minister Rishi Sunak of the United Kingdom and Prime Minister Anthony Albanese of Australia participate at Naval Base Point Loma in San Diego,...
Govt bonds worth Rs 32,000 crore to be auctioned on April 26, ET BFSI
New Delhi, The Finance Ministry on Monday announced the sale of government bonds worth Rs 32,000 crore in two categories on April 26 (Friday). The first lot comprises "7.1 per cent Government Security 2034" for an amount of Rs 20,000 crore while the second lot...
Latest news on Russia and the war in Ukraine
Russia warns it will retaliate if West seizes frozen assetsA close ally of Russian President Vladimir Putin warned Tuesday that Russia is ready to retaliate if almost $300 billion of frozen Russian assets are seized by the West and used to assist Ukraine."The...
Trump set to get millions more Trump Media shares
Anna Barclay | Getty ImagesFormer President Donald Trump is poised to receive an additional 36 million shares of Trump Media Tuesday — an "earnout" bonus worth more than $1.25 billion, at Monday's price.Trump Media, which owns the Truth Social app, was trading at...
European Central Bank governors fear Fed-style ‘dot plot’ would invite political pressure: Sources, ET BFSI
WASHINGTON - European Central Bank governors fear publishing their interest rate forecasts would invite pressure from governments trying to gauge if their central banker was serving their domestic agenda, sources told Reuters in a sign an idea to follow the U.S....
RBI MPC member Shashanka Bhide, ET BFSI
Sustaining the economic growth momentum of 7 per cent in 2024-25 and beyond is feasible on the back of favorable monsoon, higher farm productivity and improved global trade, RBI Monetary Policy Committee (MPC) member Shashanka Bhide said on Monday. During 2023-24, the...
Trump trial set to begin opening statements, first witness testimony
Republican presidential candidate and former U.S. President Donald Trump looks on as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court in New York...
German finance watchdog orders Commerzbank to pay 1.45 mn euro fine, ET BFSI
BERLIN - German financial watchdog BaFin has ordered Commerzbank to pay a fine of 1.45 million euros ($1.55 million) for breaching its anti-money laundering duties, the regulator said on Monday."Commerzbank AG and the former comdirect Bank AG, of which Commerzbank AG...
UK finance watchdog should not publicise probes sooner, lawmakers say, ET BFSI
LONDON - Britain's financial watchdog should drop plans to publicise its investigations sooner until a thorough analysis of its impact has been completed, a committee of lawmakers from parliament's upper house said on Monday.The Financial Conduct Authority (FCA)...
RBI’s mandate on KFS to address MSME credit gap, promote equitable lending, ET BFSI
In order to assist borrowers in navigating the complexities of loan terms and conditions while upholding regulatory standards, the Reserve Bank of India (RBI) has asked all lenders to provide key fact statements (KFS), with effect from 01 October, 2024.It is an...
Why has RBI’s Direct platform for retail investors in govt bonds not picked up?, ET BFSI
The Reserve Bank of India's (RBI) Retail Direct platform, aimed at increasing retail investor participation in the government bond market, has struggled to gain traction due to complex settlement mechanisms and liquidity issues, according to market participants.Prime...
Israel’s military intel chief resigns over failures surrounding Oct. 7
Tanks, armored vehicles and military machinery belonging to the Israeli army on April 17, 2024. Anadolu | Anadolu | Getty ImagesThe intelligence chief of Israel's Defense Forces has resigned citing failures linked to the Hamas terror attack carried out on Oct. 7,...
Once Adani-heavy, 8 FPIs look to settle with Sebi, ET BFSI
Mumbai: More than half a dozen foreign portfolio investors (FPIs) that owned substantial stakes in Adani Group firms are looking to settle securities violation matters with markets regulator Sebi, said people familiar with the matter. They have agreed to pay a certain...
Inflation sustainably moving towards RBI target enough for a rate cut: Ashima Goyal, ET BFSI
Consumer price index (CPI) inflation does not have to touch the Reserve Bank of India's 4% target, but sustainably move towards that mark for interest rates to be lowered, Ashima Goyal, external member of the central bank's monetary policy committee (MPC), told ET....
Blinken to warn China over support for Russia’s military during trip
US Secretary of State Antony Blinken (L) and China's Foreign Minister Qin Gang shake hands ahead of a meeting at the Diaoyutai State Guesthouse in Beijing on June 18, 2023. Leah Millis | AFP | Getty ImagesU.S. Secretary of State Antony Blinken will warn China about...
Government has warned against this government bank’s fake app and stock trading apps, ET BFSI
Late last year, the government warned State Bank of India (SBI) account holders of a fake SMS scam. A message circulating via SMS claiming to be from State Bank of India's (SBI) official channel asked users to update their PAN card. It threatened SBI account holders,...
Latest news on Russia and the war in Ukraine
Russia slams U.S. aid package, saying it will 'ruin Ukraine'Russia has, predictably, reacted angrily to a new U.S. $61 billion aid package for Ukraine, claiming that it will only lead to more carnage in the conflict.Kremlin spokesperson Dmitry Peskov said Saturday...
RBI directs payment firms to track high-value, fishy transactions during elections, ET BFSI
The Reserve Bank of India (RBI) has instructed all regulated payment companies to monitor high-value or suspicious transactions during the general elections, as per multiple senior executives familiar with the matter. In a letter dated April 15, the central bank...
Trump wins on inflation as Biden centers tariffs, jobs: NBC News poll
Joe Biden and Donald Trump 2024.Brendan Smialowski | Jon Cherry | Getty ImagesMore voters trust Donald Trump than President Joe Biden to deal with inflation and the cost of living, their top concerns for the U.S., according to the latest NBC News poll.The poll of...
Russia says deeper U.S. hybrid war using Ukraine will end in Vietnam-style humiliation
In this pool photograph distributed by Russia's state agency Sputnik, Russian President Vladimir Putin meets with the country's Labour and Social Protection Minister in Moscow on April 10, 2024. Gavriil Grigorov | AFP | Getty ImagesRussia said on Sunday that U.S....
Trump Media CEO says he’ll do ‘whatever it takes’ to defend DJT investors from short sellers
Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023. Al Drago | Bloomberg | Getty ImagesTrump Media CEO Devin Nunes on Friday said he would...
Finance ministry may have this plan to deal with frauds, ET BFSI
The Finance Ministry is reportedly proposing stricter measures to protect citizens from cyber fraud. This comes after a surge in incidents, including the recent Bank of Baroda World app scam. These measures are said to be part of a broader national effort to combat...
Trump cancels North Carolina rally due to storm
Former U.S. President Donald Trump enters Manhattan Criminal Court after a lunch break during his trial for allegedly covering up hush money payments on April 19, 2024 in New York City. Spencer Platt | Via ReutersU.S. Republican presidential candidate Donald Trump...
House Republicans will not move forward with vote to remove Johnson as Speaker today, Green says
Rep. Marjorie Taylor Greene says she will let her fellow House Republicans hear from their constituents before deciding whether to move forward with a vote to remove Speaker Mike Johnson.Greene made the remarks to a gaggle of reporters aired on CNN after the House...
House passes Ukraine, Israel, Taiwan aid, potential TikTok ban
Speaker of the House Mike Johnson, R-La., conducts a news conference in the U.S. Capitol after the House passed the foreign aid package rule on Friday, April 19, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe House on Saturday passed a series of bills to...
Trump berates judge for ‘rushed’ hush money trial, days before opening statements
Former US President Donald Trump sits in the courtroom at Manhattan criminal court in New York, US, on Thursday, April 18, 2024. Jeenah Moon | ReutersDonald Trump on Saturday took to social media to deliver another tirade against the judge and the circumstances of his...
Senate passes reauthorization of a key U.S. surveillance program after midnight deadline
After its midnight deadline, the Senate voted early Saturday to reauthorize a key U.S. surveillance law after divisions over whether the FBI should be restricted from using the program to search for Americans' data nearly forced the statute to lapse.The legislation...
US House to vote on long-awaited $95 billion Ukraine, Israel aid package
A view of the U.S. Capitol.Chip Somodevilla | Getty ImagesThe Republican-controlled U.S. House of Representatives on Saturday is set to vote on, and expected to pass, a $95 billion legislative package providing security assistance to Ukraine, Israel and Taiwan, over...
Need to preserve success on inflation control on durable basis, RBI governor at MPC, ET BFSI
MUMBAI: The success in controlling inflation has to be preserved and taken forward to achieve a 4 per cent inflation target on a durable basis, RBI Governor Shaktikanta Das stressed during the MPC meeting even as other members expressed concerns over the impact of...
Forex drop by $5.40 billion to $643.16 billion for the week ended April 12: RBI, ET BFSI
MUMBAI: India's foreign exchange reserves declined by $5.4 billion to $643.16 billion for the first time in eight weeks as of April 12, as per data released by the Reserve Bank of India.This is the steepest decline in Forex in over three months. Earlier, it rose by...
MPC stresses need for aligning to the 4 per cent target on a durable basis, ET BFSI
Aligning inflation to the 4 percent target on a durable basis is the prime concern for the monetary policy committee (MPC) members. Even though inflation is reined in, concerns over food inflation are not abated and at the same time strong growth indicators give a...
New York AG seeks to void Trump business fraud bond
Former President Donald Trump returns from a lunch break at Manhattan criminal court as jury selection continues in New York on April 18, 2024.Jabin Botsford | ReutersThe New York Attorney General's office on Friday asked a judge to effectively void a $175 million...
Citadel Securities blasts Trump Media CEO over DJT short sale letter
Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023. Al Drago | Bloomberg | Getty ImagesCitadel Securities ripped Trump Media CEO Devin...
Man sets himself on fire at New York courthouse
Fire extinguishers (R) are left at the park across from Manhattan Criminal Court in New York City after a man reportedly set himself on fire during the trial of US President Donald Trump, in New York City on April 19, 2024. Angela Weiss | AFP | Getty ImagesA man set...
Norway wealth fund backs proposal to split Goldman CEO, chair roles, ET BFSI
STOCKHOLM - Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors, will support a resolution calling for Goldman Sachs to split the roles of CEO and board chair, it said on Friday.Proxy advisors Institutional Shareholder Services (ISS) and...
Trump trial set to pick final alternate jurors for hush money case
Republican presidential candidate and former U.S. President Donald Trump departs on the day of his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, outside Trump Tower, in New York City, U.S. ,...
Trump Media alerts Nasdaq to potential DJT stock manipulation
Jonathan Raa | Nurphoto | Getty ImagesTrump Media has warned the CEO of the Nasdaq Stock Market of 'potential market manipulation' of the company's stock by "naked" short selling of shares.The warning came as Trump Media has offered shareholders detailed instructions...
All-out war, or measured retaliation?
A banner depicting missiles and drones flying past a torn Israeli flag, with text in Persian reading "the next slap will be harder" and in Hebrew "your next mistake will be the end of your fake state", hangs on the facade of a building in Palestine Square in Tehran on...
Sebi comes out with standard format for AIF PPM audit report, ET BFSI
In order to have uniform compliance standards and for ease of compliance, markets regulator Sebi on Thursday came out with a standard reporting format for alternative investment fund (AIF) pertaining to Private Placement Memorandum (PPM) audit report. The reporting...
New York jury convicts man in cryptocurrency market manipulation
Las Vegas Review-journal | Tribune News Service | Getty ImagesA New York federal jury on Thursday convicted a Puerto Rico man of a $110 million scheme that was the Department of Justice's first-ever cryptocurrency open-market manipulation case, prosecutors said.The...
Vietnam central bank says it stands ready to intervene in forex market, ET BFSI
HANOI - Vietnam's central bank is ready to immediately intervene in the foreign exchange market in case of adverse economic impacts from currency moves, its deputy governor said on Friday, noting it had already taken measures to reduce pressure on the currency.The...
Israel carries out limited strike against Iran, source says
An Iranian flag is pictured near in a missile during a military drill, with the participation of Iran’s Air Defense units, Iran October 19, 2020.WANA News Agency| ReutersIsrael launched a limited direct military attack on Iranian soil early Friday morning, marking the...
RBI imposes Rs 60.3 lakh penalty on five co-operative banks, BFSI News, ET BFSI
The Reserve Bank has imposed penalties totalling Rs 60.3 lakh on five co-operative banks for contravention of various regulatory norms. A penalty of Rs 43.30 lakh has been imposed on Rajkot Nagarik Sahakari Bank for non-compliance with RBI directions on 'ban on loans...
Fed’s rate-cut foot-dragging grates on global peers at IMF meetings, ET BFSI
WASHINGTON - Finance chiefs from economies large and small are scrambling to keep pace with the Federal Reserve's rapid resetting of rate-cut expectations as U.S. inflation data roils markets from London to Brazil.All insist they are setting policy independently of...
Latest news on Russia and the war in Ukraine
'We must defeat Russian terror': Zelenskyy renews call for stronger air defensesUkrainian gunners of the 14th Separate Mechanised Brigade named after Prince Roman the Great, fire at the enemy with BM 21 "Grad" MLRS at a position near the town of Kupyansk, Kharkiv...
TikTok doubles ad buy to fight potential U.S. ban in Congress
Giovanna Gonzalez of Chicago demonstrates outside the U.S. Capitol following a press conference by TikTok creators to voice their opposition to the “Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in...
U.S. unveils sanctions on Iran’s drone program following Israel attack
Unidentified men are carrying a model of Iran's first-ever hypersonic missile, Fattah, past a mosque during a gathering to celebrate the IRGC UAV and missile attack against Israel, in Tehran, Iran, on April 15, 2024. Morteza Nikoubazl | Nurphoto | Getty ImagesThe...
Bank of Japan’s Noguchi says future rate hikes likely to be slow, ET BFSI
SAGA, Japan - Bank of Japan board member Asahi Noguchi said on Thursday the pace of future rate hikes would likely be much slower than that of its global peers in recent policy tightenings, as the impact of rising domestic wages has yet be fully passed onto...
Investor climate group sets target for assets in private equity, debt, ET BFSI
LONDON - The world's leading group of asset owners committed to turning their investment portfolios green said on Thursday it had set guidance for private assets for the first time and would also look to improve assessment of emissions tied to sovereign debt...
Apple, Tesla investments boost Modi
Google CEO Sundar Pichai and Apple CEO Tim Cook listen as India's prime minister, Narendra Modi, speaks during a meeting with senior officials and CEOs of American and Indian companies, in the White House in Washington, D.C., on June 23, 2023.Brendan Smialowski | AFP...
Trump Media shares soar by more than 20% on second day of strong gains
In this photo, a smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesThe share price of Trump Media soared by more than 20% Thursday, the second day in a row of strong gains for the owner of the Truth Social...
Qatar re-evaluates key mediator role in Middle East conflict
U.S. Secretary of State Antony Blinken is greeted by Qatari officials upon his arrival in Doha, Qatar, Friday Oct. 13, 2023.Jacquelyn Martin | ReutersQatar is reconsidering its role as cease-fire broker between Israel and Palestinian militant group Hamas, the Gulf...
India’s policies subject to whims & fancies? Raghuram Rajan, Surjit Bhalla weigh in on why foreign investment is down, ET BFSI
NEW DELHI: India, the world’s fastest-growing major economy in recent years, is struggling to find a consistent flow of foreign investment as investors are spooked by the lack of steady and sustainable policies by New Delhi, economists said.Raghuram Rajan, former...
Trump trial loses juror who shared concerns about getting ID’d
Former U.S. President Donald Trump sits in the courtroom during his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state court in New York City, U.S. April 18, 2024. Brendan...
Trump Media tells DJT shareholders how to block short sellers
Jonathan Raa | Nurphoto | Getty ImagesTrump Media is making a point of telling its shareholders how to prevent their stock from being loaned to short sellers — who bet the price of the shares will drop.The short-selling-prevention tips posted Wednesday on Trump...
How will markets move in runup to Budget after elections? Samir Arora answers, ET BFSI
"I think the Budget will be very good because it will be related to divestments. I think it will be related to unlocking of real estate, of PSUs, I am just doing big picture that you cannot make it transformational and simultaneously cut the deficit," says Samir...
Senate dismisses two articles of impeachment against Homeland Security secretary, ends trial
U.S. Homeland Security Secretary Alejandro Mayorkas testifies before the House Homeland Security Committee about the Biden Administration's FY2025 budget request in the Cannon House Office Building on Capitol Hill on April 16, 2024 in Washington, DC. Chip Somodevilla...
Biden says Trump shouldn’t be Commander in Chief ‘for my son’
U.S. President Joe Biden delivers remarks at the Unitedsteel Workers headquarters in Pittsburgh, Pennsylvania, on April 17, 2024.Elizabeth Frantz | ReutersPresident Joe Biden on Wednesday choked up as he blasted Donald Trump, saying the presumptive Republican...
Banks see delay in rate cuts by RBI, too, ET BFSI
Mumbai: A delay by the US Federal Reserve in reducing rates is likely to weigh on Mint Road's decision on starting its own policy rate-easing cycle. After Morgan Stanley and Kotak Bank, IDFC Bank now expects India's central bank to defer its rate easing call, perhaps...
RBI’s stricter KYC rules may slow merchant onboarding 90%: experts, ET BFSI
The Reserve Bank of India’s (RBI) draft norms around stricter Know Your Customer (KYC) rules for payment aggregators could slow the onboarding of online merchants by as much as 90%, industry insiders said.The new rules will be applicable to existing players across...
China slams U.S. probe into its shipbuilding industry for ‘unfair practices’
U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders' week in Woodside, California, Nov. 15, 2023.Brendan Smialowski | Afp | Getty ImagesChina said it "firmly opposes" the U.S. investigation...
Banks see delay in rate cuts by RBI, too, ET BFSI
Mumbai: A delay by the US Federal Reserve in reducing rates is likely to weigh on Mint Road's decision on starting its own policy rate-easing cycle. After Morgan Stanley and Kotak Bank, IDFC Bank now expects India's central bank to defer its rate easing call, perhaps...
Latest news on Russia and the war in Ukraine
Ukraine has 'urgent' need for air defense, artillery and ammunition, army chief saysThe commander-in-chief of Ukraine's armed forces on Wednesday said that he had emphasized Ukraine's "urgent needs" on the battlefield in a conversation with top U.S. General...
3.3 crore bank accounts opened in FY24, cash level rises by Rs 36K crore, ET BFSI
A remarkable 33 million new Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts were opened during FY24, pushing the cumulative tally to 519.5 million accounts. The total balance across these accounts surged to Rs 2,34,997 crore, compared to Rs 1,98,844 crore recorded in...
Trump complains about hush money trial jury selection
Former U.S. President Donald Trump speaks to the media on the first day of his trial for allegedly covering up hush money payments at Manhattan Criminal Court on April 15, 2024 in New York City. Jefferson Siegel | Getty ImagesDonald Trump complained Wednesday that his...
Euro zone bond yields steady as traders assess interest rate outlook, ET BFSI
LONDON - Euro zone bond yields paused for breath on Wednesday after this week's climb, trading near a 1-1/2-month high, as traders assessed central banks' possible next moves following robust U.S. data.This week's fall in demand for safe assets pushed bond yields...
The European Central Bank is seen forgiving Italy its fiscal sins, if needed, ET BFSI
MILAN - Investors who have snapped up high-yielding Italian bonds over the last year on the assumption they were protected from risk by the European Central Bank are now taking a close look at the ECB's rulebook to gauge whether their investment is safe.The central...
Trump Media shares rise more than 10%
Jonathan Raa | Nurphoto | Getty ImagesThe price of Trump Media shares rose by more than 10% in early trading Wednesday.The big bump for DJT followed two days of share losses on the Nasdaq.Trump Media, which owns the Truth Social app, closed more than 14% lower on...
Proof of HRA claims of previous years; can you really take it easy after CBDT’s assurance of no review of old HRA cases, ET BFSI
If you have made certain claims to get an income tax deduction or exemption while filing your income tax return, then you need to keep documentary evidence of it as the income tax department may ask for it. There were media reports which indicated that the income tax...
RBI’s Das & Co rate easing cycle may be influenced by potential Fed rate cut delays, ET BFSI
A delay by the US Federal Reserve to cut rates is likely to weigh on RBI’s decision on starting its policy rate easing cycle. After Morgan Stanley and Kotak Bank, even IDFC Bank expects RBI to ease its rate easing call. Strong economic growth and escalated tensions in...
G20 watchdog says ‘non-banks’ should hold more cash to cope with margin spikes, ET BFSI
LONDON: "Non-banks" such as insurers, hedge funds, family offices and commodities traders should hold sufficient cash and draw up contingency plans for coping with spikes in collateral used to back derivatives positions against default, the G20's financial watchdog...
RBI directs payment aggregators to undertake due diligence of merchants on boarded, ET BFSI
The Reserve Bank of India on Tuesday directed all payment aggregators to undertake due diligence of merchants on boarded as per RBI's norms, to regulate the payment ecosystem. The KYC and due diligence norms, according to the RBI, shall be applicable 3 months from...
No RBI rate cuts likely this fiscal, says Morgan Stanley, BFSI News, ET BFSI
Morgan Stanley's economists have projected that the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may opt against reducing the policy repo rate, which currently stands at 6.50%, for fiscal 2025. This due to many factors, including robust domestic...
Feuding Kirloskars will have to disclose Deed of Family Settlement, Sebi tells Supreme Court, ET BFSI
Markets regulator Securities Exchange Board of India on Tuesday told the Supreme Court that Kirloskar Oil and Engines (KOEL) and Kirloskar Brothers (KBL) will have to disclose their 2009 Deed of Family Settlement (DFS) pursuant to the amendment in its 2015 LODR...
Biden fund gets big donation from son of GOP donor Larry Ellison
David Ellison, CEO of Skydance Media attends the 81st Annual Golden Globe Awards at The Beverly Hilton on January 07, 2024 in Beverly Hills, California. Kevin Winter | The Hollywood Reporter | Getty ImagesDavid Ellison, the son of Republican megadonor Larry Ellison,...
RBI asks banks to look at setting up central fund to pay internal ombudsmen, ET BFSI
The Reserve Bank of India (RBI) has asked lenders to examine the possibility of establishing a central fund to pay the salaries of banks' internal ombudsman (IO). This move seeks to enhance their independence to further protect customer rights.The banking sector...
Biden wants to triple China tariffs on steel, aluminum imports
President Joe Biden and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco in November.Saul Loeb | Afp | Getty ImagesPresident Joe Biden is calling on the U.S. Trade Representative...
RBI moves to regulate PoS payment players like Pine Labs, Innoviti, MSwipe, ET BFSI
After releasing guidelines for online payment aggregators like Razorpay and Cashfree, the Reserve Bank of India on Tuesday issued draft rules to regulate point-of-sale payment service providers (PA-P). Companies like Innoviti Payments, Pine Labs and MSwipe will be...
Modi 3.0 mega plan for Railways, plans investment of Rs 10-12 lakh crore, ET BFSI
Indian Railways is ready with a 100-day plan post-elections 2024. It includes a focus on various passenger-friendly measures, like a 24-hour ticket refund scheme, a comprehensive super App for various railways facilities, three economic corridors and sleeper Vande...
Republican House panel launches probe into Biden’s FTC-DOJ task force
FTC Commissioner nominee Lina M. Khan testifies during a Senate Commerce, Science, and Transportation Committee hearing on the nomination of Former Senator Bill Nelson to be NASA administrator, on Capitol Hill in Washington, U.S., April 21, 2021. Graeme Jennings |...
Fed VC Jefferson, ET BFSI
Washington DC [US], April 17 (ANI): US Federal Reserve Vice Chair Philip N Jefferson believes it will be appropriate to maintain the current restrictive monetary policy stance, to align inflation with 2 per cent.Speaking at the International Research Forum on Monetary...
Latest news on Russia and the war in Ukraine
Putin warns against escalation in first comments on Iran-Israel conflictRussian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022.Sergei Savostyanov | AFP | Getty ImagesRussian President Vladimir Putin made his first...
Why the US dollar is causing chaos across Asia, BFSI News, ET BFSI
Emerging-market currencies have tumbled this year as the dollar has gone from strength to strength. Taiwan’s currency dropped to the lowest level in almost eight years this week, India’s rupee slumped to a record, and Malaysia’s ringgit is close to the weakest since...
Biden administration partners with states to protect airline customers
U.S. Secretary of Transportation Pete Buttigieg speaks during a press briefing the day after the collapse of the Francis Scott Key Bridge in Baltimore, at the White House in Washington, U.S., March 27, 2024. Elizabeth Frantz | ReutersU.S. Transportation Secretary Pete...
Senator encourages drivers to drag Gaza cease-fire protesters from roads
U.S. Senator Tom Cotton (R-AK) speaks during a Senate Intelligence Committee hearing on worldwide threats to American security, on Capitol Hill in Washington, U.S., March 11, 2024.Julia Nikhinson | ReutersSen. Tom Cotton, R-Ark., on Tuesday doubled down on earlier...
Israel’s military chief says that Israel will respond to Iran’s weekend missile attack
Israel's military chief said Monday that his country will respond to Iran's weekend attack, but he did not elaborate on when and how as world leaders urged Israel not to retaliate, trying to avoid a spiral of violence in the Middle East.The Iranian attack on Saturday...
Is Aadhaar mandatory for investment in small savings schemes such as Senior Citizen Savings Scheme, PPF, NSC, Sukanya Samriddhi Yojana?, ET BFSI
Small savings schemes: Investing in small savings schemes like the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), and others requires adherence to certain documentation procedures. Chief among these is the submission...
Treasury Department to impose sanctions on Iran after Israel attack
US Treasury Secretary Janet Yellen attends a press conference at US Ambassador's residence in Beijing on April 8, 2024. Pedro Pardo | AFP | Getty ImagesTreasury Secretary Janet Yellen said Tuesday the U.S. is preparing new sanctions on Iran after the country launched...
Deutsche Bank, Morgan Stanley expect ECB to deliver 75 bps rate cut in 2024, ET BFSI
Brokerages Morgan Stanley and Deutsche Bank expect the European Central Bank to reduce borrowing costs by 75 basis points (bps) this year, on uncertainty over the U.S. Federal Reserve rate cut outlook and sticky domestic inflation.Last week, the ECB held interest...
Israel’s war Cabinet is locked between restraint and revenge
Vowing retribution but urged to show restraint, Israel has yet to agree on its response to an expansive drone and missile strike carried out on its territories by Iran on Saturday.A Monday meeting of Israel's five-person war Cabinet, headed by Prime Minister Benjamin...
RBI may bring licensing regime for POS players, impact Pine Labs, Paytm among others, ET BFSI
The Reserve Bank of India (RBI) is gearing up to introduce a licensing framework for point-of-sale (POS) operators, a move expected to have significant implications for key players like Pine Labs, MSwipe, Paytm, and BharatPe, according to reports.The objective is to...
Trump Media shares fall, Truth Social will launch TV platform
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares fell by more than 5% Tuesday morning after the company announced its Truth Social platform is moving to launch a live TV streaming platform.The plummet of DJT shares came a day after they closed more than 18%...
RBI imposes restrictions on Mumbai-based Sarvodaya Co-op Bank, ET BFSI
The RBI on Monday imposed several restrictions on Mumbai-based Sarvodaya Co-operative Bank, including capping withdrawals at Rs 15,000 for customers, in the wake of the bank's deteriorating financial situation. The eligible depositors will be entitled to receive a...
RBI asks lenders to provide key facts statement to borrowers from Oct 1, ET BFSI
All lenders will have to provide key facts statement (KFS) about the loan agreement terms, including all-inclusive interest cost to borrowers for retail and MSME loans, from October 1, the Reserve Bank said Monday. Currently, KFS is specifically mandated with respect...
China’s inaction on Iran has ‘undermined’ its influence in the Middle East, analyst says
China's President Xi Jinping attends the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S. November 17, 2023. Carlos Barria | ReutersChina's restrained silence on the Middle East conflict is tipping the scales of regional influence...
No rush for Bank of Korea to cut interest rates, says departing board member, ET BFSI
SEOUL - The Bank of Korea should not rush to lower interest rates as price stability remains the top policy priority for the central bank over slowing domestic demand, a departing board member said on Tuesday."There is no need to lower interest rates in a rush because...
Jury selection continues in criminal hush money case
Former U.S. President Donald Trump speaks to the press after the first day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, U.S. on April 15, 2024. Angela Weiss | Via ReutersThis...
NSE’s Ashish Chauhan, ET BFSI
New Delhi, April 16 (IANS): If the Indian stock markets are considered among the best-performing ones in the world, it is due to the political stability and the creation of a robust social security framework the country has witnessed in the last 10 years, according to...
New York tax preparer charged in big tax fraud scheme
Damian Williams, U.S. Attorney for the Southern District of New York, speaks during a press conference in New York City, Sept. 22, 2023.Barry Williams | New York Daily News | Getty ImagesA New York tax preparer was arrested Monday on charges related to causing...
UK wage growth slows slightly as Bank of England mulls rate cuts, ET BFSI
LONDON - British core wage growth slowed again, posting its weakest rise since the three months to September 2022 but remained strong by historical standards, according to official figures which are likely to be given a cautious welcome by the Bank of England.Regular...
Morgan Stanley, BFSI News, ET BFSI
MUMBAI - Interest rate cuts in India are "off the table" in fiscal year 2024/25 given the change in the Federal Reserve's policy path and strong growth in the South Asian nation, analysts at Morgan Stanley said on Tuesday."We believe that improving productivity...
Lockheed wins U.S missile defense contract worth $17 billion, sources tell Reuters
The Lockheed Martin logo is seen during the the 70th annual International Astronautical Congress at the Walter E. Washington Convention Center in Washington, DC on October 22, 2019.Mandel Ngan | AFP | Getty ImagesLockheed Martin has been awarded a $17 billion contract...
CEIB pushes for mandatory clearance for private banks, posing loan challenge, ET BFSI
Central Economic Intelligence Bureau has written to the department of financial services, finance ministry, to ensure all private banks seek mandatory clearance from CEIB, as in the case of government banks, on whether any enforcement case is pending against a company...
Commerce will spend all CHIPS Act money this year
TAYLOR, Texas — The Commerce Department is on track to dole out all of the $39 billion in grant money allocated under the CHIPS Act by year-end, Commerce Secretary Gina Raimondo told CNBC on Monday.The Commerce Department is providing the money to semiconductor...
Indian regulators plan panel to weigh derivatives risk: Sources, ET BFSI
MUMBAI - India's top financial regulators will form a committee to assess stability risks emerging from a surge in derivatives markets and suggest policy changes if required, two sources familiar with the matter said.Options trading in India has soared in the last...
Sebi to auction 30 properties of seven companies in May 2024, BFSI News, ET BFSI
Representative ImageMarkets regulator Sebi on Monday said it will auction 30 properties of seven companies, including Mangalam Agro Products and Purusattam Infotech Industries, on May 15 to recover money illegally collected from investors. The properties will be...
Speaker Johnson to advance separate Israel, Ukraine, Taiwan bills
Speaker of the House Mike Johnson, R-La., makes his way to the House floor on Friday, March 22, 2024. Rep. Marjorie Taylor Greene, R-Ga., filed a motion to vacate him from the speakership, later in the day. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse Speaker...
Mahendra Kumar Jajoo, ET BFSI
Mahendra Kumar Jajoo, CIO, Mirae Asset Investment Managers, says . “I expect the Fed to cut rates in July-August. The rate cut cycle will be shallow. The Fed will cut to reverse the ultra-aggressive rate hikes of the last 100 basis points and then the Fed will watch...
Biden and his wife report $620,000 income in 2023 tax returns
U.S. President Joe Biden and first lady Jill Biden walk to Marine One for travel to Virginia from the South Lawn of the White House in Washington, U.S., January 23, 2024. Leah Millis | ReutersPresident Joe Biden and his wife Jill on Monday released tax returns showing...
Disclose all loan fees upfront to customers, RBI instructs lenders, ET BFSI
Consumer loans will get more transparent with Reserve Bank of India Thursday directing lenders to disclose all associated fees upfront. This move is part of ongoing regulatory efforts to enhance transparency and disclosure in loan pricing and charges imposed on...
These transactions remain as paper trades within WhatsApp, Facebook and other apps, ET BFSI
In a recent incident, a 58-year-old resident of Kolkata lost Rs 20 lakh to an investment scam on WhatsApp. Initially enticed by a Facebook advertisement offering a complimentary online stock trading course, the victim was subsequently added to a WhatsApp group by the...
Latest news on Russia and the war in Ukraine
Russian forces pummel east Ukraine in bid to advance on Chasiv Yar, officials sayRussian forces continue to pummel eastern Ukraine in a bid to advance farther into the Donetsk region while Ukraine continues to suffer shortages of manpower and materiel.The...
Debt and climate back on IMF, WB spring meetings agenda, ET BFSI
Washington, Apr 15, 2024 - The spring meetings of the International Monetary Fund and the World Bank are due to open Tuesday, with two clear objectives: help countries combat climate change, and assist the most indebted nations.The meetings -- which bring central...
Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024, ET BFSI
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise...
SEBI to auction 22 properties of Rose Valley Group on May 20, BFSI News, ET BFSI
Representative ImageNEW DELHI: Markets regulator Sebi on Monday said it will auction 22 properties of Rose Valley Group of companies on May 20 at a reserve price totalling Rs 8.6 crore in a bid to recover money raised by the firm from the public through illicit...
We have woken up to new paradigm in Middle East, analyst says
Iran's weekend attack on Israel marks a "new paradigm" in the Middle East conflict, which risks escalating into a wider regional war, Chatham House's Middle East director said Monday.Sanam Vakil at the London-based thinktank said it was a matter of when and not if...
Lithuanian policymaker Simkus, ET BFSI
VILNIUS - The European Central Bank could cut interest rates more than three times this year and the reductions should not be held back if the U.S. Federal Reserve delays its own cuts, Lithuanian policymaker Gediminas Simkus said on Monday.Simkus, making some of the...
Rising global risks could delay RBI rate cuts, say analysts, BFSI News, ET BFSI
New Delhi: Rising global risks, including the rise in crude oil prices, may delay RBI's rate cuts, analysts said."While we maintain our call for a 50 bps rate cut starting in 3QFY25, we note increasing risks of further delays to the RBI's rate cuts from rising crude...
Trump Media shares plunge after company files to issue additional DJT stock
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesShares of Trump Media plunged more than 17% in...
Mukherjee, Chidambaram used to pressurise RBI to paint rosier picture of growth: Subbarao, ET BFSI
New Delhi: The finance ministry under Pranab Mukherjee and P Chidambaram used to pressurise the RBI to soften interest rates and present a rosier picture of growth to shore up sentiments, recalled former RBI Governor Duvvuri Subbarao in his memoir. In his recent book...
Trump starts New York criminal trial in hush money case
Former U.S. President Donald Trump attends a campaign event on April 02, 2024, in Grand Rapids, Michigan.Spencer Platt| Getty ImagesThe hush money trial of Donald Trump is set to kick off Monday in New York with jury selection, the first time a former U.S. president...
Bank of Japan’s new policy approach takes shine off its inflation forecasts, ET BFSI
TOKYO - The Bank of Japan is shifting to a more discretionary approach in setting policy, with less emphasis on inflation, sources said, as the central bank maps its monetary path following the historic decision to end a radical stimulus programme in March.With...
RBI steps up gold buying amid US dollar volatility, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has stepped up gold purchases to help diversify its foreign exchange reserves base amid US dollar volatility. The rise in the value of outstanding gold reserves made up more than four-fifths of the near $3-billion increase in forex...
World leaders react to Iran’s unprecedented air assault against Israel
A view of anti-Israel banners and posters placed on building walls in the capital city of Tehran after Iran launched drones, missiles on Israel in response to April 1 attack on consulate in Syria on April 14, 2024.Anadolu | Anadolu | Getty ImagesWorld leaders have...
Soon, you can use money in PhonePe, Amazon Pay wallets to pay via any UPI app, ET BFSI
UPI rule change for PPIs: Unified Payments Interface (UPI) and wallets like Paytm, PhonePe, and Amazon have become integral to our daily transactions. Whether it's paying for groceries, bills, or other expenses, we rely on these platforms regularly. However, a common...
Finance ministry may have this plan to deal with frauds, ET BFSI
The Finance Ministry is reportedly proposing stricter measures to protect citizens from cyber fraud. This comes after a surge in incidents, including the recent Bank of Baroda World app scam. These measures are said to be part of a broader national effort to combat...
RBI steps up gold buying amid US dollar volatility, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has stepped up gold purchases to help diversify its foreign exchange reserves base amid US dollar volatility. The rise in the value of outstanding gold reserves made up more than four-fifths of the near $3-billion increase in forex...
Crisil expects RBI to initiate repo rate cuts from mid-2024, BFSI News, ET BFSI
RBIThe Reserve Bank of India (RBI) maintained the status quo in the repo rate for the seventh time this month. The rating agency Crisil now expects the rate cut cycle to begin from mid-2024.The repo rate is the rate of interest at which the RBI lends to other...
NFRA’s order reveal multiple lapses by Pathak HD & Associates in Reliance Capital audit; debars audit partners, ET BFSI
NFRA's order reveal multiple lapses by Pathak HD & Associates in Reliance Capital audit; debars audit partners India's audit regulator, the National Financial Reporting Authority (NFRA), has taken decisive action against Pathak HD & Associates, the joint...
Govt plans stricter KYC to check financial frauds, ET BFSI
During 2023, as many as 11,28,265 cases of financial cyber fraud worth Rs 7,488.63 crore were reported, as per the data compiled by National Crime Records Bureau (NCRB).In a bid to check incidence of BoB World app scam and other such financial frauds, the finance...
Latest news on Russia and the war in Ukraine
Moscow diplomat slams Israel after attack, saying it hasn't sympathized with assaults on RussiaRussia's Foreign Ministry spokesperson slammed Israel following Iran's massive drone and missile attack on the country on Saturday, saying Israel had not shown any...
NFRA takes action against auditors of Reliance Capital for lapses and fraud, ET BFSI
The National Financial Reporting Authority (NFRA), the regulatory body overseeing auditors and audit firms for listed and large companies, has taken action against Pathak HD & Associates (PHD), the joint auditor for Reliance Capital, formerly an Anil Ambani group...
House Speaker Mike Johnson says he will push for aid to Israel and Ukraine this week
House Speaker Mike Johnson said Sunday he will try to advance wartime aid for Israel this week as he attempts the difficult task of winning House approval for a national security package that also includes funding for Ukraine and allies in Asia.Johnson, R-La., is...
White House will ‘wait and see’ on Iran response after Israel attack
U.S. President Joe Biden holds a press conference at the conclusion of the G7 Summit, in Hiroshima, Japan, May 21, 2023. Jonathan Ernst | ReutersThe White House is taking a "wait and see" approach in response to Iran's attempted strike on Israel, National Security...
Cuban spy Manuel Rocha plea deal raises fresh questions for claims holders
The Miami Herald profiled former Ambassador V. Manuel Rocha in 2003 when he joined the firm of Steel Hector & Davis to help open doors in Latin America.Raul Rubiera | Miami Herald | Getty ImagesWhen Carolyn Lamb saw news of Cuban spy Victor Manuel Rocha's arrest...
News organizations urge Biden and Trump to commit to presidential debates during the 2024 campaign
Twelve news organizations on Sunday urged presumptive presidential nominees Joe Biden and Donald Trump to agree to debates, saying they were a "rich tradition" that have been part of every general election campaign since 1976.While Trump, who did not participate in...
Is it mandatory to submit Aadhaar to invest in small savings schemes?, ET BFSI
Is it mandatory to provide Aadhaar to invest in small savings schemes such as the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), etc.? The answer is yes. While opening a fresh account in any of the small savings...
Payment mechanism for traders importing pulses from Myanmar simplified: Govt, ET BFSI
The government on Saturday said the payment mechanism for traders importing pulses from Myanmar has been eased and simplified. The importers have been asked to utilize Rupee/ Kyat direct payment system using Special Rupee Vostro Account (SRVA) through Punjab National...
Do you need to do KYC again? Check new rules here, ET BFSI
The proverbial monkey on the back is tormenting investors yet again. After changes in Know Your Customer (KYC) norms, starting 1 April, millions are now staring at another bout of KYC updates or risk a freeze on all transactions.Many investors are discovering that...
Israel says 300 Iranian drones and missiles downed in overnight attack
Iranians are waving Iranian flags and a Palestinian flag as they celebrate Iran's IRGC UAV and missile attack against Israel on April 14, 2024.Nurphoto | Nurphoto | Getty ImagesIran rained a deluge of drones and missiles on Israel on Saturday night in response to a...
MUDRA loan limit to be hiked to Rs 20 lakh from Rs 10 lakh, ET BFSI
The loan limit for the Micro Units Development & Refinance Agency (MUDRA) scheme will be hiked by 100 per cent if the Bharatiya Janata Party is voted back to power, the party said while announcing its manifesto on Sunday."The BJP has decided to raise loan limit...
New capital requirements for Swiss banks will slow growth at UBS, says finance minister, ET BFSI
ZURICH: The Swiss government's proposed tougher capital requirements for the banking industry will impact UBS's ability to grow, the country's finance minister said in an interview published on Saturday.Switzerland's largest bank will have to hold more capital if the...
FPSB India CEO, ET BFSI
New Delhi: The country needs a "new breed of financial planning professionals" who can act as consultants for customers, Financial Planning Standards Board (FPSB) India CEO Krishan Mishra said. India currently has 2,731 certified financial planners (CFPs) who are...
Trump targets two likely witnesses ahead of his criminal trial, despite gag order
In this courtroom sketch, Michael Cohen looks toward former U.S. President Donald Trump as he is questioned by a lawyer for the attorney general's office, during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New...
India’s forex kitty surges to new all-time high of $648.56 bn, ET BFSI
Mumbai, India's foreign exchange reserves went up by $2.98 billion during the week ended April 5 to scale a new all-time high of $648.562 billion, data released by the RBI showed on Friday.This is the seventh consecutive week marking a jump in the overall reserves....
Trump says he would testify in upcoming hush money trial
Republican presidential candidate former President Donald Trump and Speaker of the House Mike Johnson (R-LA) hold a press conference at Mr. Trump's Mar-a-Lago estate on April 12, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesDonald Trump said Friday that he...
Trump tries to boost support for Truth Social as his media stock tanks
Donald Trump on Friday urged his followers to support his social media app Truth Social, as its parent company's stock continues to sink lower.Trump in a post on that app said he believes Truth Social embodies the political "movement" behind his "Make America Great...
Marjorie Taylor Greene won’t say what happened to her Trump Media stock
US Representative Marjorie Taylor Greene (R) speaks alongside former US President and 2024 presidential hopeful Donald Trump at a campaign event in Rome, Georgia, on March 9, 2024. Elijah Nouvelage | AFP | Getty ImagesA media company with ties to former President...
Trump Media shares drop more than 6% after trading day begins
Jonathan Raa | Nurphoto | Getty ImagesThe price of Trump Media shares quickly dropped by more than 6% in the first half hour of trading Friday morning.The latest price fall for DJT continued a slide that included a 5.4% drop on Thursday, and a more than 8.5% decline...
The West urges China to intervene with Iran amid fears of a direct attack on Israel
Iranians attend a funeral procession in Tehran, held for seven Islamic Revolutionary Guard Corps members killed in a strike in Syria.Hossein Beris | Afp | Getty ImagesWestern diplomats have mounted pressure on China to prevent Iran from escalating tensions in the...
