Politics
Trump expects visit from Chinese President Xi without giving timeline
Chinese President Xi Jinping and U.S. President Donald Trump.Dan Kitwoodnicholas Kamm | Afp | Getty ImagesU.S. President Donald Trump said on Wednesday he expected Chinese President Xi Jinping to visit the United States without giving a timeline for his...
Palantir plunges after Pentagon budget report, Karp sales plan
Palantir co-founder and CEO Alex Karp attends meetings at the U.S. Capitol in Washington on Oct. 18, 2023.Jonathan Ernst | ReutersThe share price of Palantir fell as much as 12.5% Wednesday after news that CEO Alex Karp had adopted a new stock trading plan, and a...
Despite growth in economic activities Fed minutes signals rate cut on hold, ET BFSI
New Delhi [India], February 20 (ANI): The Federal Open Market Committee (FOMC) remains focused on its dual mandate of maximum employment and stable inflation at 2 per cent, according to the minutes of the latest meeting.The Federal Open Market Committee (FOMC) has...
Who is Friedrich Merz, the favorite to become Germany’s new chancellor?
Friedrich Merz, Union candidate for chancellor and CDU federal chairman, joins the "Quadrell" TV round in the Bundestag election campaign.Michael Kappeler | Picture Alliance | Getty ImagesFriedrich Merz, migration hardliner and longtime rival of Angela Merkel, is...
DOJ dismissal hearing in New York court
NYC Mayor Eric Adams speaks during a press conference with NYPD Commissioner Jessica Tisch at Bellevue Hospital Center on Feb. 18, 2025 in New York City.Michael M. Santiago | Getty ImagesA top Department of Justice official on Wednesday offered a new rationale for the...
Trump Media sues Brazil justice who crossed Elon Musk
FILE PHOTO: Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., February 11, 2025. REUTERS/Kevin Kevin Lamarque | ReutersTrump Media and its fellow conservative-oriented social media company Rumble on...
Reserve Bank launches RBIDATA App for simplify access to economic data, ET BFSI
Reserve Bank of India launches RBIDATAIn a significant move to elevate financial transparency and accessibility of data, the Reserve Bank of India has launched RBIDATA, a mobile application that offers macroeconomic and financial statistics relating to the Indian...
Trump scores win in suit challenging Elon Musk’s cost-cutting powers
U.S. President Donald Trump looks on as he stands in the Oval Office of the White House, on the day Robert F. Kennedy Jr is sworn in as secretary of Health and Human Services, in Washington, D.C., U.S., February 13, 2025. Nathan Howard | ReutersDonald Trump's...
White House tweets ‘ASMR’ video of immigrants in shackles
A deportation flight.Source: Twitter/X | The White HouseThe White House on Tuesday afternoon posted a video online showing immigrants in shackles being prepared to board a deportation flight from Seattle.The video includes footage of a set of handcuffs and chains...
Senate confirms Howard Lutnick as commerce secretary, a key role for Trump’s trade agenda
U.S. President Donald Trump speaks from the Oval Office of the White House, flanked by U.S. Commerce secretary Howard Lutnick, on the day he signs executive orders for reciprocal tariffs, in Washington, U.S., February 13, 2025. Kevin Lamarque | ReutersThe Senate...
Trump administration to continue Biden merger guidelines
The Trump administration on Tuesday said it will keep using strict guidelines by the administration of former President Joe Biden to review proposed corporate mergers.The decision to retain the regulatory guidelines —which have been widely disliked by corporations...
Judge orders Eric Adams, DOJ lawyers to explain case dismissal request
New York City Mayor Eric Adams speaks with members of the media as he arrives for an Adult Town Hall at Sunnyside Community Services Older Adult Center on Feb. 12, 2025 in the Queens borough of New York City.Michael M. Santiago | Getty ImagesA federal judge ordered...
Liquidity, not rate cuts, should be the priority to spur growth, says Axis Bank’s Neelkanth Mishra, ET BFSI
Neelkanth MishraAmid ongoing discussions on injecting liquidity, Neelkanth Mishra, Chief Economist at Axis Bank said that managing liquidity should be the primary tool for supporting economic growth rather than cutting interest rates. According to Mishra, a 25-basis...
Arunachal cabinet approves schemes for Women, Youth, and State Development, ET BFSI
Kurung Kumey (Arunachal Pradesh) [India], February 18 (ANI): The Arunachal Pradesh government has given a positive nod for revamping the Dulari Kanya Scheme with the fixed deposit for institutional births of girl children was raised from Rs 20,000 to Rs 30,000.The...
Financial services secretary, ET BFSI
In 2020, the limit was raised from ₹100,000 after restrictions were placed on Punjab and Maharashtra Cooperative Bank over financial irregularities.NEW DELHI/MUMBAI: India is actively considering raising the bank deposit insurance coverage, a top official said on...
Finance Minister hands over keys to homebuyers under SWAMIH Fund in Mumbai, ET BFSI
(Special arrangement)Union Finance Minister Nirmala Sitharaman handed over keys to homebuyers from select projects in Mumbai Metropolitan Region (MMR). These houses were long-stressed residential projects have been completed under the “Special Window for Affordable...
Europe clambers to form Ukraine plan as U.S., Russia peace talks ramp up
France's President Emmanuel Macron (C) walks with U.S. President-elect Donald Trump (R) and Ukraine's President Volodymyr Zelenskyy (L) after a meeting at the Elysee Presidential Palace in Paris on Dec. 7, 2024.Julien De Rosa | Afp | Getty ImagesEurope is vying for a...
FM Sitharaman launches Mutual Credit Guarantee Scheme for MSMEs, ET BFSI
Mumbai, The Centre on Monday launched the 'Mutual Credit Guarantee Scheme for MSMEs', which was announced in the Union Budget 2024-25 to boost the micro, small, and medium enterprises.The scheme facilitates collateral-free loans to MSMEs by providing loans up to Rs...
FM Sitharaman dispels gloom over capex cut worries, says no govt programme will suffer, ET BFSI
The govt's efforts at asset building continues, which is why the capex target for this FY is higher by 10.2% than the previous year, Finance Minister Nirmala Sitharaman said at a post-budget interaction with stakeholders from Indian industry.The FM's clarification...
RBI lets funds flow to tackle liquidity deficit, ET BFSI
Mumbai: The Reserve Bank of India has supported liquidity to its full extent through long-term variable rate repo (VRR) auctions, foreign exchange swaps and doubling down on its open market operation (OMO) purchases in its auctions and on screen. Since January 30, the...
How govt can prevent rising cooperative bank failures, ET BFSI
While the government has taken steps such as forming the Ministry of Cooperation in 2021, experts believe that deeper structural reforms are needed to prevent cooperative bank failures. A combination of strict regulatory action, professional management, technological...
Trump wants the Supreme Court to let the firing of whistleblower agency head proceed
A supporter of U.S. President-elect Donald Trump stands outside the U.S. Supreme Court, in Washington, U.S., January 17, 2025. REUTERS/Carlos BarriaCarlos Barria | ReutersThe Trump administration wants the Supreme Court to permit the firing of the head of the federal...
Trump administration cuts reach FDA employees in food safety, medical devices and tobacco products
FILE PHOTO: The headquarters of the U.S. Food and Drug Administration (FDA) is seen in Silver Spring, Maryland November 4, 2009. Jason Reed | ReutersThe Trump administration's effort to slash the size of the federal workforce reached the Food and Drug Administration...
U.S., Ukraine could still secure ‘positive’ minerals deal, officials say
U.S. President Donald Trump speaks, as he signs an executive order in the Oval Office, at the White House in Washington, D.C., U.S. Feb. 14, 2025. Nathan Howard | ReutersU.S. President Donald Trump's hopes of securing access to Ukraine's rare earth minerals hit a wall...
Reuters criticizes Trump’s ban of Associated Press reporters in Oval Office, Air Force One
Associated Press White House reporter Darlene Superville and AP photographer Ben Curtis are told by a U.S. President Donald Trump administration member that they have been denied from joining the White House press pool in West Palm Beach, Florida, U.S., February 15,...
US sent Ukraine minerals deal, offered almost nothing in return
SLOVIANSK, UKRAINE - FEBRUARY 9: In an aerial view, a chalk quarry on Mount Karachun is seen in front of the city on February 9, 2025 in Sloviansk, Ukraine. Due to the strategic importance of the mountain and the telecommunication tower located on it, fighting...
Trump team to start Russia-Ukraine peace talks in Saudi Arabia
Israel's Foreign Minister Gideon Sa'ar welcomes U.S. Secretary of State Marco Rubio as he arrives in Israel, on the first leg of his Middle East trip, in Tel Aviv, Israel, on Feb. 15, 2025.Evelyn Hockstein | ReutersSenior officials from U.S. President Donald Trump's...
Trump tours a Boeing plane to spotlight delay on getting new Air Force One
The motorcade of U.S. President Donald Trump is parked next to a 12-year-old Boeing 747-8 that Trump was touring in West Palm Beach, Florida, on Feb. 15, 2025.Kevin Lamarque | ReutersPresident Donald Trump toured a Boeing plane on Saturday to highlight delays in...
IRS will lay off thousands of probationary workers in the middle of tax season
Nametags with the IRS logo in a conference room at the Internal Revenue Service (IRS) campus in Austin, Texas, US, on Friday, Sept. 6, 2024. Jordan Vonderhaar | Bloomberg | Getty ImagesThe IRS will lay off thousands of probationary workers in the middle of tax season,...
JD Vance Munich Security speech criticizes European democracy
US Vice President JD Vance delivers his speech during the 61st Munich Security Conference (MSC) in Munich, southern Germany on February 14, 2025. Thomas Kienzle | Afp | Getty ImagesEuropean leaders reeled Friday after U.S. Vice President JD Vance lambasted the...
Washington D.C. unemployment spikes as Trump and Musk begin efforts to shrink the government
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | ReutersPresident Donald Trump's moves to fire thousands of federal government workers have coincided with a surge in...
Kellogg says Russia-Ukraine peace plan could come in days or weeks
AUVERS-SUR-OISE, FRANCE - 2025/01/11: Lt Gen. Keith Kellogg, former National Security Advisor to U.S. Vice President Mike Pence speaks at the conference and says the regime in Iran is weaker and more vulnerable than it has been in decades. It should not be feared but...
3 Biden clean energy rules top targets for Senate GOP
Republican U.S. Senator John Thune (R-SD), who was elected to become the next Senate Majority Leader, speaks to the media after a U.S. Senate Republicans meeting to vote on leadership positions for the 119th Congress, on Capitol Hill in Washington, U.S., November 13,...
NATO’s Rutte tells Europe to stop complaining, come up with concrete ideas
MUNICH, GERMANY - FEBRUARY 15: NATO Secretary-General Mark Rutte walks outside the main venue at the 61st Munich Security Conference on February 15, 2025 in Munich, Germany. International defence and security leaders from around the world are gathering for the...
Eric Adams denies quid pro quo, urges NYC to put ‘episode behind us’
New York City Mayor Eric Adams leaves the federal court after being charged with bribery and illegally soliciting a campaign contribution from foreign nationals, in New York City, U.S., October 2, 2024. Shannon Stapleton | ReutersNew York City Mayor Eric Adams on...
Zelensky calls for a European army, warns Russia not preparing for dialogue
Volodymyr Zelenskyy, Ukraine's president, during the Munich Security Conference in Munich, Germany, on Friday, Feb. 14, 2025. Bloomberg | Bloomberg | Getty ImagesUkrainian President Volodymyr Zelenskyy called for the creation of a European army to boost the...
RBI walks the talk, unveils more steps to ease liquidity, ET BFSI
Mumbai: The Reserve Bank of India has doubled down on its liquidity infusion measures via the open market operation (OMO) purchase to ₹40,000 crore, and announced a four-day variable rate repo (VRR) auction for another ₹75,000 crore, to be held on February 17.This...
Mizoram CM attends State Credit Seminar organised by NABARD, releases State Focus Paper 2025-26, ET BFSI
Aizawl (Mizoram) [India], February 15 (ANI): NABARD, Mizoram Regional Office on Friday organized the State Credit Seminar in Aizawl and Mizoram Chief Minister Lalduhoma attended the event as Chief Guest and released the State Focus Paper 2025-26. The seminar's Special...
Trump border czar warns Eric Adams on immigration agreement
President Donald Trump's border czar Thomas Homan, left, and New York Mayor Adams, right, and others, meeting in New York, Thursday, Feb. 13, 2025.Ed Reed | Office of the Mayor of New York via APPresident Donald Trump's border czar implicitly warned New York Mayor...
Eric Adams prosecutor quits DOJ over case dismissal order
Danielle Sassoon, assistant US Attorney for the Southern District of New York, left, arrives at court in New York, US, on Thursday, March 28, 2024. Yuki Iwamura | Bloomberg | Getty ImagesA seventh federal prosecutor resigned Friday over the Department of Justice's...
India’s RBI to enhance liquidity next week to cover for tax outflows, ET BFSI
By Dharamraj DhutiaMUMBAI - The Reserve Bank of India will step up its liquidity infusion and inject over $16 billion next week into the banking system, which will see large outflows owing to tax payments.The RBI has doubled the quantum of government securities it...
RBI imposes monetary penalty on Shriram Finance, Ujjivan Small Finance Bank, ET BFSI
The Reserve Bank of India (RBI) on Friday imposed monetary penalties on Shriram Finance and Ujjivan Small Finance Bank, amounting to Rs 5.80 lakh and Rs 6.70 lakh, respectively, for non-compliance with regulatory guidelines.Penalty on Shriram FinanceFollowing a...
U.S. embassies told to prepare for Trump staff cuts, sources say
The entrance of the United States Embassy in Bogota, Colombia on Jan. 26, 2025.Pablo Vera | Afp | Getty ImagesPresident Donald Trump's administration has asked U.S. embassies worldwide to prepare for staff cuts, three sources familiar with the matter told Reuters on...
U.S. and India to boost bilateral trade to $500 billion by 2030
U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands, at the White House in Washington, D.C., U.S., Feb. 13, 2025. Kevin Lamarque | ReutersNew Delhi and Washington will work to more than double bilateral trade to $500 billion by 2030, Indian...
Top federal prosecutor quits after DOJ moves to toss NYC Mayor Adams case
New York City Mayor Eric Adams arrives at the federal court after being charged with bribery and illegally soliciting a campaign contribution from a foreign national, in New York City, U.S., October 2, 2024. Caitlin Ochs | ReutersThe top federal prosecutor in...
Trump reciprocal tariffs news conference set for 1 p.m.
U.S. President Donald Trump reads about tariffs on steel and aluminum, as Howard Lutnick stands in the background, in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025. Kevin Lamarque | ReutersPresident Donald Trump set an Oval Office news...
PACS-CSCs disburse ₹12905 crore in loans as part of rural financial inclusion in Andhra Pradesh, ET BFSI
Common Service Centres, a key component of the Digital India initiative launched by the govt of India, aim to provide essential govt and non-govt services to citizens, particularly in rural and remote areas, through digital means.VIJAYAWADA: In a major boost to rural...
NABARD projects ₹4.40 lakh crore priority sector credit for Rajasthan in FY 2025-26, ET BFSI
The Minister of State (Independent Charge) for Cooperatives and Civil Aviation, Gautam Kumar Dak, release the State Focus Paper, in the presence of Manju Rajpal, Principal Secretary, Cooperation, Balraj Singh, VC, SKNAU, Jobner, Tikam Chand Bohra, MD-RAJFED and Dr...
Essential for govt departments to modernise to cater to ever-rising public expectation: President Murmu, ET BFSI
It is essential for government departments to modernise their systems by making the best use of emerging technologies to cater to the ever-rising expectations of the public for efficiency in service delivery, President Droupadi Murmu said on Thursday. Addressing a...
Unions sue Trump, fearing mass firings of federal employees
Local labor organizers celebrate at a United Auto Workers vote watch party on April 19, 2024 in Chattanooga, Tennessee. With over 51% of workers voting yes the UAW won the right to form a union at the plant. Elijah Nouvelage | Getty ImagesFive unions sued...
RBI’s inflation target seems feasible with softened vegetable prices, skewed demand recovery: BoB report, ET BFSI
New Delhi [India], February 13 (ANI): India's inflation outlook appears favourable, with the possibility of aligning with the Reserve Bank of India's (RBI) 4 per cent target in the coming months, highlighted a report by Bank of Baroda. The report noted that a seasonal...
Elon Musk’s X settles Trump lawsuit over deplatforming
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | ReutersSocial media company X has agreed to pay about $10 million to settle a lawsuit by President Donald Trump, who...
Trump froze law that hit Tesla suppliers
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | ReutersThe anti-bribery law whose enforcement President Donald Trump has suspended was previously used by the...
Trump reciprocal tariffs could come by Thursday, White House says
U.S. President Donald Trump looks on, as he signs executive orders in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025. Kevin Lamarque | ReutersPresident Donald Trump could announce his reciprocal tariff plan before he meets with Indian Prime...
Mitch McConnell warns Trump trade war, tariffs will raise prices
Then President Donald Trump speaks to the media while flanked by Senate Majority Leader Mitch McConnell after arriving at a Senate Republican weekly policy luncheon at the U.S. Capitol March 26, 2019 in Washington, DC. Mark Wilson | Getty ImagesRepublican Sen. Mitch...
White House nominates new chiefs for bank, market regulators: Reuters
The entrance to the Consumer Financial Protection Bureau (CFPB) headquarters is seen during a protest on Feb. 10, 2025 in Washington, DC.Anna Moneymaker | Getty ImagesThe White House plans to nominate Jonathan McKernan, a former member of the Federal Deposit Insurance...
RBI extends UPI credit line facility to Small Finance Banks, BFSI News, ET BFSI
RBI extends the credit line facility on UPI to Small Finance BanksThe Reserve Bank of India (RBI) on Wednesday announced an expansion in the scope of Unified Payments Interface (UPI) by enabling transactions from pre-sanctioned credit lines at banks for Small Finance...
Karnataka governor clears ordinance to curb coercive micro-loan recoveries, ET BFSI
Governor Thaawarchand Gehlot has cleared the Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance, 2025, with his assent. This would now allow the government to notify the ordinance to check unlawful and coercive recovery of loans from...
RBI to issue Rs 50 notes with Guv Sanjay Malhotra’s signature, ET BFSI
The Reserve Bank of India on Wednesday said it will soon issue Rs 50 denomination banknotes bearing the signature of Governor Sanjay Malhotra. Malhotra assumed office in December 2024 replacing Shaktikanta Das who demitted office after completion of his extended term....
Trump renews insistence that the U.S. can control, redevelop Gaza
President Donald Trump hosted Jordan's King Abdullah II at the White House on Tuesday and renewed his insistence that Gaza could be emptied of all residents, controlled by the U.S. and redeveloped as a tourist area — a plan that could likely only work if the Arab...
Simplifying downstream investments, creating level playing field, ET BFSI
The reporting requirements have become more stringent, as entities now must report all prior investments to the RBI, even if the original equity investments were made when the entity was not an FOCC. The Reserve Bank of India (RBI) has recently updated its master...
Businessman Duped of Rs 37.5 Lakh, ET BFSI
A web of deception unraveled when a businessman, desperate for financial aid, fell for the words of fraudsters, who lured him with promises of accessing money stuck in the Reserve Bank of India (RBI). Using forged documents, the scammers, who were known to the victim,...
Musk says DOGE is ‘what democracy is all about’ during Oval Office visit
Elon Musk on Tuesday defended his "Department of Government Efficiency" against critics, saying the unaccountable cost-slashing task force represents the will of American voters who elected President Donald Trump."That's what democracy is all about," said Musk, who...
RBI’s gold buying not to replace $ for settlements, BFSI News, ET BFSI
New Delhi: FM Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by RBI, is not intended to replace any international currency.She responded to Congress MP Manish Tiwari's concerns about whether the global...
East Germany is a far-right stronghold — economics helped make it happen
Alice Weidel, chancellor candidate of the far-right Alternative for Germany (AfD) political party, speaks to supporters as they wave German flags at the AfD election campaign launch rally.Sean Gallup | Getty Images News | Getty ImagesGermany's far-right party is...
RBI’s gold buying not to replace $ for settlements, BFSI News, ET BFSI
Finance Minister Nirmala SitharamanNew Delhi: FM Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by RBI, is not intended to replace any international currency.She responded to Congress MP Manish Tiwari's...
Idea is not to maximise revenue, but to collect which is due to govt: CBIC Chair, ET BFSI
Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and Customs (CBIC) The idea is not to maximise the revenue but to collect the revenue which is due to the government, said Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and...
White House bars AP from Oval Office
U.S. President Donald Trump speaks to reporters after signing a proclamation renaming the Gulf of Mexico to the Gulf of America, while flying over the gulf aboard Air Force One en route to New Orleans to attend the Super Bowl, February 9, 2025. Kevin Lamarque |...
Trump FBI pick Kash Patel accused of directing staff purge as nominee
Kash Patel, U.S. President Donald Trump's nominee to be director of the FBI, looks on as he testifies before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., January 30, 2025. Evelyn Hockstein | ReutersPresident Donald Trump's...
Trump says Treasury Secretary Bessent is going to Ukraine as U.S. has ‘little to show’ for aid sent
U.S. Secretary of the Treasury Scott Bessent speaks, at the White House, in Washington, U.S. February 3, 2025. Elizabeth Frantz | ReutersU.S. Treasury Secretary Scott Bessent will head to Ukraine for discussions about the war with Russia, U.S. President Donald Trump...
Former Trump aide Steve Bannon pleads guilty in New York
Steve Bannon, former advisor to U.S. President Donald Trump, arrives for a hearing at Manhattan Criminal Court on February 11, 2025 in New York City. Michael M. Santiago | Getty ImagesSteve Bannon, a former top White House aide to President Donald Trump, pleaded...
Trump poll shows high approval ratings for first weeks
U.S. President Donald Trump salutes before the Super Bowl 59 game between the Philadephia Eagles and the Kansas City Chiefs on Feb. 9, 2025.Evelyn Hockstein | ReutersPresident Donald Trump received one of his highest job approval ratings in his decade long political...
Trump removes director of government ethics office
David Huitema, Director of the Office of Government Ethics, sits down with Reuters for his first interview on the job, at his office in Washington, U.S., Jan. 2, 2025.Evelyn Hockstein | ReutersPresident Donald Trump has removed David Huitema as director of the U.S....
Supreme Court lawyer Tom Goldstein jailed after cryptocurrency claim
Tom Goldstein, a partner at the law firm of Akin Gump Strauss Hauer & Feld LLC, poses for a photo outside the Supreme Court in Washington, D.C., U.S., on Monday, Jan. 11, 2010. Stephen Voss | Bloomberg | Getty ImagesA federal judge on Monday ordered leading...
RBI rate cuts may top 100 bps in FY26 as growth concerns persists, ET BFSI
RBI rate cuts may top 100 bps in FY26 as growth concerns persistsThe Reserve Bank of India (RBI) is expected to further ease monetary policy by cutting the benchmark repo rate by an additional 75-100 basis points (bps) by the end of FY26, following its recent 25 bps...
Trump says Hamas should free all hostages by midday Saturday or ‘let hell break out’
President Donald Trump said on Monday that Hamas should release all hostages held by the militant group in Gaza by midday Saturday or he would propose canceling the Israel-Hamas ceasefire and "let hell break out."Trump cautioned that Israel might want to override him...
How RBI is changing its regulatory approach under Governor Sanjay Malhotra, ET BFSI
How RBI is changing its regulatory approach under Governor Sanjay Malhotra The Reserve Bank of India’s (RBI) latest monetary policy announcements indicate a significant shift in its regulatory approach, focusing on easing liquidity concerns and deferring stringent...
Man pleads guilty in hack of SEC’s X account that claimed approval of bitcoin ETFs
Omar Marques | Lightrocket | Getty ImagesAn Alabama man pleaded guilty on Monday in federal court in connection with the January 2024 hack of the Securities and Exchange Commission's X account, which was used to falsely claim that the SEC had approved exchange-traded...
Trump to pause enforcement of law banning bribery of foreign officials
President Donald Trump speaks to members of the press in the Oval Office of the White House on Jan. 30, 2025.Kent Nishimura for The Washington Post | Getty ImagesPresident Donald Trump is set Monday to sign an executive order directing the Department of Justice to...
Trump, Musk could put U.S. at default risk: former Treasury chiefs
Elon Musk walks on Capitol Hill on the day of a meeting with Senate Republican Leader-elect John Thune (R-SD), in Washington, U.S. December 5, 2024. Benoit Tessier | ReutersFive former Treasury secretaries warned Monday that recent actions at the Treasury Department...
Trump’s federal employee buyout plan could be extended
U.S. President Donald Trump meets with Japan's Prime Minister Shigeru Ishiba (not pictured) at the White House in Washington, U.S., Feb. 7, 2025. Kent Nishimura | ReutersThe federal judge who paused the Trump administration's offer of mass buyouts for government...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. A bumpy rideStock futures climbed Monday as investors digested the latest phase in a brewing global trade war. The three major U.S. averages dipped last week. The S&P 500...
Centre releases Rs 1.11 lakh cr interest-free loan to states in Apr-Jan, ET BFSI
New Delhi, The Centre has released about Rs 1.11 lakh crore loan to states during April-January under the scheme for special assistance to states for capital expenditure, Minister of State for Finance Pankaj Chaudhary said on Monday. In the 2024-25 Budget, Finance...
Govt keeps eye on rate transmission, BFSI News, ET BFSI
New Delhi: The government is closely monitoring lenders to ensure they pass on rate cuts announced by the central bank. A senior government official said they will hold discussions with banks if such transmission is not reflected in the next few weeks."There is no...
Taxonomy for climate finance should be ready in 6 months: DEA secretary, ET BFSI
Economic Affairs Secretary Ajay Seth has said work with respect to developing a taxonomy for climate finance is going on and it should be ready in the next six months or so. "Work is happening, and in fact, the steel ministry has completed their work. They have issued...
Musk calls to impeach judge whose order blocks DOGE from Treasury systems access
Elon Musk has called to impeach a federal judge in New York, Paul Engelmayer, over an order that temporarily restricts the tech centi-billionaire and his DOGE team from accessing U.S. Department of Treasury payment systems and sensitive data.Over the weekend an...
FM Nirmala Sitharaman, ET BFSI
Finance Minister Nirmala Sitharaman on Monday said action will be taken in case there are violations of well laid down processes for auctioning of gold by banks and NBFCs when a borrower fails to pay the gold loan. During Question Hour in Lok Sabha, she said Non...
Credit Guarantee Fund scheme benefitted 6.78 lakh students till 2024: Pradhan, ET BFSI
New Delhi, The Centre has approved Rs 3,019 crore under the Credit Guarantee Fund Scheme benefitting 6.78 lakh students till 2024, Union Education Minister Dharmendra Pradhan said on Monday. Under the scheme, the central government gives guarantee for education loans...
Consumer Financial Protection Bureau staff to work remotely, HQ shuttered
Office of Management and Budget (OMB) Acting Director Russell Vought speaks with reporters during a press briefing at the White House in Washington, U.S., March 11, 2019.Jonathan Ernst | ReutersConsumer Financial Protection Bureau employees were told Sunday to work...
Bank of Baroda, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may cut interest rates further by 50 basis points (bps) in 2025 and shift its stance from "neutral" to "accommodative," according to a report by Bank of Baroda.The report suggested that the central bank has entered a rate-cut...
Trump to announce 25% steel and aluminum tariffs in latest trade escalation
Canadian, Mexican and Chinese flags.Nurphoto | Nurphoto | Getty ImagesU.S. President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the U.S., on top of existing metals duties, in another major escalation of his...
More RBI rate cuts on the cards, stance likely to change from neutral to accommodative, ET BFSI
Although RBI's new Governor delivered 25 bbps rate cut on Friday, marking the first rate reduction in five years, the market was slightly disappointed.As the RBI embarks upon the rate cut cycle, it can be expected that more cuts are also on the cards, while the timing...
Egypt announces emergency Arab summit after Trump’s Gaza plan infuriates key allies
U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu hold a joint press conference in the East Room at the White House in Washington, U.S., Feb. 4, 2025.Leah Millis | ReutersEgypt announced Sunday that it will host an emergency Arab summit on Feb....
Trump’s acting Consumer Financial Protection Bureau chief halts all supervision of companies
Russell Vought, President-elect Donald Trump's pick to be director of the Office of Management and Budget, arrives for a meeting at the office of Sen. Chuck Grassley, R-Iowa, in Hart building on Monday, December 16, 2024. Tom Williams | Cq-roll Call, Inc. | Getty...
Trump says he’s firing Kennedy Center board of trustees members and naming himself chairman
President Donald Trump says he is firing members of the board of trustees for the John F. Kennedy Center for the Performing Arts and naming himself chairman.He also indicated that he would be dictating programming at one of the nation's premier cultural institutions,...
Trump and Japanese prime minister hold press conference
[The stream is slated to start at 2:00 p.m. ET. Please refresh the page if you do not see a player above at that time.]U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba are set to hold a joint press conference at the White House on Friday.The...
Trump’s USAID staff plan paused by federal judge
A worker removes the U.S. Agency for International Development sign on their headquarters on Feb. 7, 2025 in Washington, DC.Kayla Bartkowski | Getty ImagesA federal judge on Friday said he would temporarily pause the Trump administration's plan to place thousands of...
U.S. states sue to block Musk’s DOGE from accessing payment systems
Elon Musk checks his phone on the day of the Presidential Inauguration of U.S. President Donald Trump at the Rotunda of the U.S. Capitol in Washington, U.S., Jan. 20, 2025. Kevin Lamarque | ReutersA coalition of mostly Democratic-led U.S. states filed a lawsuit on...
Ukraine’s Zelenskyy offers Trump mineral partnership, seeking security
Ukraine's President Volodymyr Zelenskyy speaks during an interview with Reuters, amid Russia's attack on Ukraine, in Kyiv, Ukraine Feb. 7, 2025.Valentyn Ogirenko | ReutersUkrainian President Volodymyr Zelenskyy pored over a once-classified map of vast deposits of rare...
Hamas hands over three Israeli hostages to Red Cross in central Gaza
Members of Hamas' Al-Qassam Brigades gather in the square to release Israeli hostages as part of a hostage swap deal between Hamas and Israel, in Deir al Balah, Gaza, on February 8, 2025. Anadolu | Anadolu | Getty ImagesPalestinian militant group Hamas handed over...
U.S. judge declines to block Elon Musk’s DOGE from Labor Department systems
Tesla and SpaceX CEO Elon Musk arrives to the inauguration of U.S. President-elect Donald Trump in the Rotunda of the U.S. Capitol on Jan. 20, 2025 in Washington, DC. Chip Somodevilla | Via ReutersA federal judge on Friday declined to block Elon Musk's government...
What are the new bank cybersecurity measures announced by RBI Governor Sanjay Malhotra?, ET BFSI
RBI Governor Sanjay Malhotra has announced a series of measures aimed at strengthening security in the banking and payments ecosystem. From introducing stricter authentication for international online transactions to launching exclusive internet domains for banks and...
Trump ends Biden’s security clearances, intelligence briefings
US President Joe Biden, left, and President-elect Donald Trump during a welcome ceremony at the North Portico of the White House ahead of the 60th presidential inauguration in Washington, DC, US, on Monday, Jan. 20, 2025. Jim Lo Scalzo | Bloomberg | Getty ImagesU.S....
Monetary policy has imprint of a tech-savy bureaucrat, next rate cut in April, ET BFSI
The Reserve Bank of India's repo rate cut under its new leadership—its first reduction in two years—signals a renewed focus on balancing growth, inflation, and risk while optimising economic benefits, according to SBI Ecowrap."Today's monetary policy has the imprint...
RBI banning bank business last resort but in public interest says new governor, ET BFSI
Barring regulated entities from doing business due to irregularities is in the interest of the public. This policy of the central bank will continue but will only be used as a measure of last resort, governor Sanjay Malhotra said.He said that there are about two banks...
Staffer with Elon Musk’s DOGE amplified white supremacists online
One of the people working with billionaire Elon Musk in his efforts to overhaul the U.S. government is a Berkeley-educated computer scientist who has boosted white supremacists and misogynists online.Gavin Kliger lists his job on LinkedIn as "Special Advisor to the...
White House blames Biden for jobs data, touts Trump plan
President Donald Trump's new Press Secretary Karoline Leavitt is interviewed by FOX News on her first full day of work at the White House on January 21, 2025 in Washington, DC. Tuesday marks the first full day of Trump's second term in the White House. Chip...
DOGE chief Elon Musk polls X users over staffer’s racist tweets
Tesla and SpaceX CEO Elon Musk takes his seat at the inauguration ceremony before Donald Trump is sworn in as the 47th U.S. President in the U.S. Capitol Rotunda in Washington, D.C., on Jan. 20, 2025.Saul Loeb | AFP | Getty ImagesBillionaire tech mogul Elon Musk on...
Elon Musk U.S. airspace reform plan spurs conflict-of-interest fears
Elon Musk walks on Capitol Hill on the day of a meeting with Senate Republican Leader-elect John Thune (R-SD), in Washington, U.S. December 5, 2024. Benoit Tessier | ReutersElon Musk's involvement in the Trump administration's airspace reform plan has quickly spurred...
Governor Sanjay Malhotra announces rate cut by 25 bps to 6.25%, ET BFSI
RBI Governor Sanjay Malhotra delivers the Monetary Policy statement. (RBI Youtube via PTI Photo) Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced that the Monetary Policy Committee (MPC) has decided unanimously to reduce the policy rate by 25...
Trump administration demands lists of low-performing federal workers
U.S. President Donald Trump during the annual National Prayer Breakfast at the U.S. Capitol in Washington on Feb. 6, 2025.Kevin Lamarque | ReutersThe Trump administration on Thursday ordered all federal departments and agencies by March 7 to submit lists of employees...
Exclusive ‘bank.in’ Internet Domain to curb financial frauds; enforceable from April, ET BFSI
(Representational image: iStock)Coming as a big step towards curbing the bank frauds, the Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced introducing the 'bank.in' exclusive Internet Domain for Indian banks.This initiative aims to reduce cyber...
Musk DOGE staffer resigns over racist social media posts
Elon Musk, CEO of Tesla, speaks with CNBC on May 16, 2023.David A. Grogan | CNBCA staff member on the Department of Government Efficiency advisory group led by tech billionaire Elon Musk resigned Thursday after The Wall Street Journal asked the White House about his...
Rate Cut, Market Reforms & Digital Security, ET BFSI
RBI Governor Sanjay Malhotra delivers the Monetary Policy statementThe Reserve Bank of India on Friday announced the outcomes of the Monetary Policy Committee (MPC) meeting held on February 5-6, reducing the repo rate by 25 basis points to 6.25 per cent led by a...
RBI sees inflation falling to 4% in Q2 of next fiscal, BFSI News, ET BFSI
The Reserve Bank sees inflation moderating in the next fiscal and gradually aligning with the target of 4 percent on the back of substantial softening of food prices."CPI inflation for 2024-25 is projected at 4.8 per cent with Q4 at 4.4 per cent. Assuming a normal...
Senate confirms Trump budget director pick Vought
Russell Vought, director of the Office of Management and Budget (OMB) nominee for US President Donald Trump, during a Senate Budget Committee confirmation hearing in Washington, DC, US, on Wednesday, Jan. 22, 2025. Al Drago | Bloomberg | Getty ImagesThe Republican-led...
RBI’s understanding of crypto will not change, uneffaced by any country’s stance: DG Sankar, ET BFSI
RBI’s understanding of crypto will not change, uneffaced by any country’s stance: DG Sankar During the press conference held with the key decision makers of RBI, after the announcements made during the Monetary Policy Committee's speech, Deputy Governor, T Rabi Sankar...
As Baltic states break from Russian grid, they brace for retaliation
Heavy snow in Tallinn, EstoniaKarl Hendon | Moment | Getty ImagesThe Baltic countries of Lithuania, Latvia, and Estonia are bracing themselves for possible sabotage and cyberattacks this weekend as they complete their long-awaited decoupling from Russia's power...
RBI sees GDP growth hitting 7% in Q2 of FY26 on strong agri, manufacturing push, ET BFSI
The Reserve Bank of India sees the country's GDP growth at 6.7 per cent in FY26 on the expectations of agricultural activity remaining upbeat and manufacturing recovering gradually in the second half of this year."Agricultural activity remains upbeat on the back of...
RBI sets up working group to review trading and settlement timings, ET BFSI
The Reserve Bank of India (RBI) on Friday announced the setting up of a working group to conduct a comprehensive review of trading and settlement timings across markets regulated by the central bank.The step aims to assess market efficiency, identify operational...
Trump administration sued by government workers over cuts to USAID
The flag of the United States Agency for International Development (USAID) outside its headquarters in Washington, D.C., on Feb. 5, 2025.Mandel Ngan | AFP | Getty ImagesThe largest U.S. government workers' union and an association of foreign...
Trump federal employee buyout deadline faces court challenge
Trump supporters walk near the U.S. Capitol building as the sun sets the day U.S. President Elect Donald Trump was declared the winner of the presidential election in Washington, U.S., November 6, 2024. Leah Millis | ReutersA lawsuit challenging the Trump...
Revenue Secretary hints at a rate cut, says ‘Don’t want to create problem for RBI’, ET BFSI
Revenue Secretary, Tuhin Kanta PandeyThe Reserve Bank of India (RBI) Monetary Policy Committee (MPC) is set to announce the policy decision on Friday. This will be unique in its kind as it will be first under the new Governor Sanjay Malhotra as well as the three...
Revenue Secretary, Tuhin Kanta Pandey, ET BFSI
Revenue Secretay, Tuhin Kanta PandeyRevenue Secretary, Tuhin Kanta Pandey ahead of the upcoming Income Tax Bill, which was announced by the Finance Minister, Nirmala Sitharaman during her budget speech, said the Bill will not introduce any new taxes. “When you will...
Republicans divided on how to pay for Trump’s tax cuts
U.S. House Speaker Mike Johnson (R-LA) reacts following the passage of a spending legislation to avert a government shutdown, on Capitol Hill in Washington, U.S., December 20, 2024. Nathan Howard | ReutersPresident Donald Trump's agenda is hitting speed bumps on...
Why Trump loves them, and how they work
A drone view shows shipping containers from China, at the China Shipping (North America) Holding Company Ltd. facility at the Port of Los Angeles in Wilmington, California, Feb. 4, 2025. Mike Blake | ReutersPresident Donald Trump has long been a fan of tariffs, and in...
Rupee closes in on 88/$-level ahead of RBI’s rate-cut decision, ET BFSI
Rupee flat on RBI support amid pressure from dollarThe Indian rupee plunged to a new all-time low and moved closer to the 88 per dollar mark as the Reserve Bank of India's Monetary Policy Committee began its meeting on Wednesday. The currency opened at 87.13 per...
Govt rethinking disinvestment plan? Finance Minister Nirmala Sitharaman sets the record straight, ET BFSI
After presenting the Union Budget on February 1, Finance Minister Nirmala Sitharaman has revealed where the government's priorities lies when it comes to disinvestment and privatisation plans. "On disinvestment and privatisation, which was very specifically undertaken...
More accommodative stance for NBFCs, banks needed in RBI monetary policy: HSBC, ET BFSI
New Delhi [India], February 6 (ANI): Upcoming monetary policy announcement by the Reserve Bank of India (RBI) is expected to provide clarity on crucial aspects that will shape the financial services sector, according to a report by HSBC. The report stated that a more...
Bank of Baroda, ET BFSI
RBI may cut Repo Rate by 25 bps on February 7: Bank of BarodaNew Delhi [India], February 6 (ANI): The Reserve Bank of India (RBI) is expected to reduce the repo rate by 25 basis points (bps) in its upcoming monetary policy announcement on February 7, according to a...
Trump sued over purge at NLRB
U.S. President Donald Trump looks on as he signs an executive order in the Oval Office at the White House in Washington, U.S., Jan. 31, 2025. Carlos Barria | ReutersThe former chair of the National Labor Relations Board in a new lawsuit Wednesday accused President...
Argentina to withdraw from WHO after Trump exit
Argentina's President Javier Milei addresses the audience during the World Economic Forum (WEF) annual meeting in Davos on January 23, 2025. Milei said at a Bloomberg event on January 22, 2026 that "The world should celebrate the arrival of President Trump,"before...
Watch Trump’s Gaza takeover remarks
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu held a joint press conference at the White House Tuesday, as a fragile ceasefire in Gaza continued to hold.There, Trump shocked the world by announcing that he wants the United States to "take over"...
Senate confirms Trump’s nominee Pam Bondi as attorney general
Pam Bondi, U.S. President-elect Donald Trump's nominee to be attorney general, testifies at a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., January 15, 2025. Elizabeth Frantz | ReutersThe Republican-led U.S. Senate...
Trump’s Gaza takeover plan does not include Palestinian residents
President Donald Trump on Tuesday evening said the United States "will take over the Gaza Strip," and "we'll own it."Trump said that all Palestinians currently living in Gaza — around 2 million people — should leave and be placed in other countries in the Middle East,...
Govt market borrowings for FY26 are well placed, but alternative funding options should be explored: SBI Report, ET BFSI
New Delhi [India], February 5 (ANI): The government's market borrowing plans for the financial year 2025-26 (FY26) appear well-placed to support fiscal policy while complementing monetary policy, according to a report by the State Bank of India (SBI).For FY26, the...
India’s cash deficit eases after RBI opens fund tap, ET BFSI
Reserve Bank of India (RBI)The cash crunch plaguing India’s banking system has more than halved after the central bank took aggressive liquidity injection measures amid faltering economic growth.Deficit liquidity, or the amount that lenders borrow from the Reserve...
Trump’s trade war could have a clear winner: The UK
General view of the City of London skyline, the capital's financial district, in October.Sopa Images | Lightrocket | Getty ImagesGlobal markets were hit with fresh volatility this week after U.S. President Donald Trump confirmed plans to impose tariffs on imports from...
Trump administration sued over Jan. 6 and health data
The Trump administration was sued Tuesday in separate civil complaints challenging a request for information about FBI employees who worked on cases involving President Donald Trump and the Jan. 6 Capitol riot, and the removal of data from federal health agency...
Multiple people killed in attack at Swedish school for adults
Members of the emergengy services work at the scene of the Risbergska School in Orebro, Sweden, on Feb. 4, 2025, following reports of a serious violent crime.Jonathan Nackstrand | AFP | Getty ImagesAround 10 people have been killed in a shooting at an adult education...
RBI seen cutting rates for first time since May 2020, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) is widely expected to cut interest rates for the first time in nearly five years in Governor Sanjay Malhotra's first monetary policy review on Friday, aiming to boost economic growth which is seen falling to a...
RBI’s dividend likely to hit Rs 1.5-2 lakh crore amid sluggish disinvestment in FY25, ET BFSI
The Reserve Bank of India (RBI) is expected to deliver a significant dividend payout to the government for the fiscal year ending March 2025, with estimates pegging the surplus transfer at Rs 1.5-2 trillion. This anticipated payout comes as disinvestment proceeds have...
Will RBI MPC vouch for a rate cut? What is new at this meet?, ET BFSI
Reserve Bank of India Governor Sanjay Malhotra The Reserve Bank of India (RBI) is set to begin its bi-monthly Monetary Policy Committee (MPC) meeting on Wednesday. This will be the first meet for the newly appointed Governor Sanjay Malhotra, and the three new members...
FM Sitharaman to hold post-budget meeting with RBI top brass on Feb 8, ET BFSI
New Delhi, Finance Minister Nirmala Sitharaman is scheduled to address the Reserve Bank of India's central board on February 8 in a post-budget meeting to coordinate the fiscal and monetary steps required to accelerate GDP growth.The customary meeting will take place...
Non-inflationary budget to aid RBI in monetary easing: Finance Secy, ET BFSI
Govt plans to use borrowings for capex, it is non-inflationary, says Finance SecretaryNew Delhi, The government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and the Monetary Policy Committee of the Reserve Bank has to now decide...
Budget 2025 laid out fundamental platform for India to grow, says Indranil Pan of YES Bank, ET BFSI
Union Minister of Finance & Corporate Affairs Nirmala SitharamanThe Union Minister of Finance & Corporate Affairs' eighth budget speech laid out ‘reform’ as a fuel; ‘inclusivity’ as a guiding spirit to materialise the goal of ‘Viksit Bharat by 2047’, which is...
FEMA rules to be eased further, says DEA Secretary, ET BFSI
New Delhi: The finance ministry and the Reserve Bank of India (RBI) are in talks to further ease foreign exchange rules, especially with regard to non-debt instruments, economic affairs secretary Ajay Seth told ET. He said the exercise focused on simplifying Foreign...
Trump pauses tariffs on Canada, Mexico
Canadian Prime Minister Justin Trudeau looks on during a press conference while responding to U.S. President Donald Trump's orders to impose 25% tariffs on Canadian imports, in Ottawa, Ontario, Canada, on Feb. 1, 2025.Patrick Doyle | ReutersPresident Donald Trump on...
FM says no targets for rupee value, it is market-determined, BFSI News, ET BFSI
The value of Indian rupee is market-determined, and there has been no devaluation, which is a feature of a fixed exchange rate regime, Finance Minister Nirmala Sitharaman said on Monday. The rupee has been falling in recent weeks, and on Monday touched an all-time low...
India’s Modi invited to meet with Trump next week, White House official says
Narendra Modi, India's prime minister, left, and U.S President Donald Trump, arrive for a news conference at Hyderabad House in New Delhi, India, on Tuesday, Feb. 25, 2020.T. Narayan | Bloomberg | Getty ImagesU.S. President Donald Trump has invited Indian Prime...
RBI should revisit its liquidity policy, rethink using CRR as a regulatory intervention tool: SBI Report, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) might start using the cash reserve ratio (CRR) as a tool for regulatory intervention rather than for liquidity management, a report by the State Bank of India revealed.The report stressed on the need for the apex bank to...
Trump tariffs on Mexico paused one month, Claudia Sheinbaum says
Mexico's President Claudia Sheinbaum gestures as she speaks about U.S. President Donald Trump's policies during a press conference at the National Palace, in Mexico City, Mexico January 21, 2025. REUTERS/Henry RomeroHenry Romero | ReutersMexico President Claudia...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Trade tailspin2. Tariff tremorU.S. President Donald Trump speaks with members of the media as he departs the White House, in Washington, U.S., Jan. 31, 2025. Carlos Barria |...
Insights from Leaders at Bajaj Allianz, Yes Bank, CRISIL, Shriram Finance, and Suzuki Motorcycle, ET BFSI
The Union Minister of Finance & Corporate Affairs presented the Union Budget 2025 on Saturday, emphasising support for farmers, the poor, youth, and women, while highlighting agriculture, investment, MSMEs, and exports as growth engines of economy.Finance Minister...
RBI expected to cut interest rates for first time in nearly five years, ET BFSI
The Reserve Bank of India (RBI) is expected to cut interest rates for the first time in nearly five years this Friday on waning concerns about stubborn inflation, economists and investors polled by ET said, as Mint Road's priority changes to helping a visibly slowing...
Govt plans alternative financing plans for MSME exporters, ET BFSI
The government plans to provide alternative financing models including export factoring services under the budget's proposed Export Promotion Mission as it seeks to ensure collateral-free, pre-shipment loans to micro, small, and medium enterprise (MSME) exporters. "We...
EU leaders meet to talk defense but Trump and his tariffs loom large
EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. Jana Rodenbusch | ReutersEuropean leaders are gathering Monday to discuss how to finance huge investments in defense — but the latest moves by U.S. President...
Not concerned about rupee value, RBI managing volatility: Finance Secretary, ET BFSI
Amid rupee falling to a record low level of 87.29 to a dollar, Finance Secretary Tuhin Kanta Pandey on Monday said there is no concern over rupee value and the Reserve Bank of India is managing the volatility of the local currency. "There is no concern about the value...
MUDRA loan expansion in Budget for homestays create Rs 1,500 cr opportunity for small businesses: SBI, ET BFSI
New Delhi [India], February 3 (ANI): The expansion of MUDRA loans for homestays has opened a significant opportunity for small businesses in the tourism sector, with potential loans amounting to Rs 1,500 crore under the Shishu category, according to a recent report by...
Rubio tells Panama to end China’s influence of canal or face U.S. action
TOPSHOT - U.S. Secretary of State Marco Rubio (L) shakes hands with Panama Canal Authority Administrator Ricaurte Vasquez during a tour at the Miraflores locks of the Panama Canal in Panama City on February 2, 2025. Mark Schiefelbein | Afp | Getty ImagesU.S. Secretary...
Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement
Ontario Premier Doug Ford speaks during a campaign stop at Walker Construction in Niagara Falls, Ontario, Canada, January 31, 2025. Carlos Osorio | ReutersOntario will pull all American alcohol from its government-run liquor shelves beginning Tuesday in response to...
SEC’s Republican-led commission tightens oversight of probes, sources say
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S.Andrew Kelly | ReutersLawyers at the U.S. Securities Exchange Commission (SEC) have been told they need to seek permission from the politically...
Trump tariffs on Canada, Mexico and China begin Saturday, White House says
U.S. President Donald Trump signs executive orders in the Oval Office at the White House in Washington, U.S., Jan. 30, 2025.Elizabeth Frantz | ReutersIn an apparent ending to weeks of intense speculation, the White House confirmed Friday that President Donald Trump...
Canada, Mexico and China respond to Trump’s tariffs
Canadian, Mexican and Chinese flags.Nurphoto | Nurphoto | Getty ImagesU.S. President Donald Trump on Saturday imposed long-threatened tariffs on imports from Canada, Mexico and China — and it didn't take long for the countries to respond.Trump signed an order slapping...
Trump fires the director of the Consumer Financial Protection Bureau
President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover.Chopra was one of the more important regulators from the previous Democratic administration who was still on...
Trump tariffs on Mexico, Canada, China imposed
U.S. President Donald Trump looks on as he signs an executive order in the Oval Office at the White House in Washington, U.S., Jan. 31, 2025. Carlos Barria | ReutersU.S. President Donald Trump is pushing ahead with long-threatened import tariffs on goods from Canada,...
China denounces Trump tariff: ‘Fentanyl is America’s problem’
The U.S. and China flags stand behind a microphone at the U.S. Embassy in Beijing on April 9, 2009.Frederic J. Brown | AFP | Getty ImagesChina's government on Sunday denounced the Trump administration's imposition of a long-threatened 10% tariff on Chinese imports...
Govt keeps borrowings low, raises RBI rate cut chances this month, ET BFSI
Reserve Bank of IndiaThe Union Budget has kept government borrowing largely in line with expectations, providing bond traders with little cause for concern. Gross market borrowing for FY26 is set at Rs 14.62 lakh crore, slightly higher than Rs 14.01 lakh crore in...
Industry and corporate leaders react to Trump duties on Mexico, Canada and China
Aerial view of trucks queueing next to the border wall before crossing to the United States at Otay commercial port in Tijuana, Baja California state, Mexico, on Jan. 22, 2025. Guillermo Arias | AFP | Getty ImagesIndustry and corporate leaders are weighing in after...
While the middle class won, India Inc lost; check complete list, ET BFSI
India’s Budget for 2025 had a few winners and losers. The biggest of them all has to be India's salaried class. The budget is key to challenge consumption woes of India's 400 million urban population, as rising inflation continues to squeeze household incomes. The...
Industry leaders to discuss key takeaways, BFSI News, ET BFSI
Leading financial analysts and economic analysis firms such as Moody's, SBI, and Fitch have projected lower growth for India, even the Economic Survey released on Friday estimates India's growth between 6.3% and 6.8%. Amidst this what is it that Finance Minister...
Credit growth moderates in personal loan segment in December: RBI data, ET BFSI
Bank credit to personal loan segment moderated to 14.9 per cent year-on-year in December, largely due to decline in growth in 'other personal loans', 'vehicle loans' and 'credit card outstanding', according to Reserve Bank data released on Friday. The RBI has released...
ICAI expects rationalisation of taxation for startups, ET BFSI
The Institute of Chartered Accountants of India (ICAI) on Thursday said it hopes the Union Budget will have measures to rationalise taxation for startups as well as simplify compliance requirements for professionals. The Budget for 2025-26 will be presented by Finance...
Major announcements and all you need to know, ET BFSI
Union Finance Minister Nirmala Sitharaman Union Budget 2025 LIVE Updates: Union Finance Minister Nirmala Sitharaman on Saturday presented her 8th Budget. This was the historical highest number of back-to-back budget presentations by any finance minister in India’s...
Musk aides lock U.S. government workers out of computer systems
Elon Musk arrives for the inauguration of U.S. President-elect Donald Trump in the U.S. Capitol Rotunda on Jan. 20, 2025 in Washington, DC.Kenny Holston | Getty ImagesAides to Elon Musk charged with running the U.S. government human resources agency have locked career...
Live Updates from the Finance Minister, BFSI News, ET BFSI
Nirmala SitharamanUnion Finance Minister Nirmala Sitharaman will be tabling the Union Budget 2025 today in Lok Sabha at 11 AM, Sitharaman including Minister of India for Defence Rajnath Singh has arrived at the Parliament.Cabinet Ministers have left the premises of...
What are the changes to your personal taxation in Budget 2025-26?, ET BFSI
In a bid to simplify taxation and provide relief to various segments of taxpayers, Finance Minister Nirmala Sitharaman unveiled several key changes in the Union Budget for 2025-26. Among the most notable adjustments are revisions to the Tax Deduction at Source (TDS)...
Finance Minister announces roll-out of revamped Central KYC this year, ET BFSI
Union Finance Minister Nirmala Sitharaman announced the roll out revamped Central KYC (Know Your Customer) in 2025 while giving her Union Budget 2025 speech on Saturday.To implement the earlier announcement on simplifying the KYC process, the revamped Central KYC...
FM sticks to fiscal prudence, Sets FY26 deficit target at 4.4%, ET BFSI
The central government has maintained its fiscal consolidation roadmap in the Union Budget 2025, setting the fiscal deficit target for 2025-26 at 4.4% of GDP. This aligns with the government’s commitment to bringing the deficit below 4.5% by FY26, as outlined under...
Govt tightens crypto reporting norms, new compliance rules from April 2026, ET BFSI
The government has introduced stricter compliance requirements for crypto transactions by proposing Section 285BAA in the Income-tax Act, making it mandatory for specified entities to furnish transaction details. The changes, announced as part of the Finance Act 2022,...
Second federal judge blocks Trump funding freeze
A person uses a mobile phone with the U.S. Capitol building in the background, on Capitol Hill in Washington, U.S., November 13, 2024. Nathan Howard | ReutersA federal judge on Friday temporarily blocked President Donald Trump's administration from freezing federal...
Top announcements by FM Sitharaman for the Finance Sector, ET BFSI
100% FDI in Insurance, boost to Infrastructure Financing by NaBFID, Credit Boost to MSMEs and moreFinance Minister Nirmala Sitharaman tabled the Union Budget 2025 in Parliament today, Sitharaman said that the engines of development are Agriculture, MSMEs, Investment,...
Musk aides lock government workers out of computer systems at U.S. agency: Reuters
Elon Musk arrives for the inauguration of U.S. President-elect Donald Trump in the U.S. Capitol Rotunda on Jan. 20, 2025 in Washington, DC.Kenny Holston | Getty ImagesAides to Elon Musk charged with running the U.S. government human resources agency have locked career...
No tax for up to Rs 12.75 lakh income for salaried under new tax regime as Section 87A tax rebate hiked in Budget 2025, ET BFSI
The finance minister has announced a hike in tax rebate under Section 87A. Due to this hike, resident individuals having net taxable income up to Rs 12 lakh will pay zero tax. Salaried individuals having standard deduction benefit of Rs 75,000 under the new tax regime...
Tax holiday for startups extended by five years until 2030, ET BFSI
The government has extended the tax holiday for eligible startups by five years, allowing new businesses incorporated until April 1, 2030, to avail of tax deductions under Section 80-IAC of the Income-tax Act. This amendment, which takes effect from April 1, 2025,...
Federal Reserve advisor spied for China, DOJ says
A former senior advisor for the Federal Reserve was arrested Friday on charges that he conspired to steal Fed trade secrets for the benefit of China.The data that the advisor John Harold Rogers allegedly shared with his co-conspirators could allow China to manipulate...
Trump Media gifts DJT shares to FBI pick Kash Patel
Kash Patel, U.S. President Donald Trump's nominee to be director of the FBI, looks on as he testifies before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., January 30, 2025. Evelyn Hockstein | ReutersTrump Media this week gifted...
Economic Survey signals domestic push, Budget ‘25 likely on 10% nominal GDP, say Economists, ET BFSI
Economists react to Economic Survey 2024-25Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024-25 in Parliament on Friday, drafted under the guidance of Chief Economic Adviser Anantha V Nageswaran. The survey projects India’s real GDP growth at 6.4 per...
Is RBI easing by stealth via Rs 60,000 crore OMOs?, ET BFSI
The Reserve Bank of India (RBI) is actively implementing measures to address the liquidity deficit in the banking system, raising questions about whether these actions signal a gradual shift toward easing its monetary stance.The RBI’s actions come at a time when...
Eco Survey warns of prolonged correction in Indian stock market in 2025, ET BFSI
Elevated valuations and optimistic market sentiments in the US raise the likelihood of a meaningful market correction in 2025, according to the Economic Survey 2025."Should such a correction occur, it could have a cascading effect on India, especially given the...
India needs 8% growth rate for at least a decade to become Viksit Bharat: Eco Survey, ET BFSI
Achieving Viksit Bharat@2047 vision would entail sustained economic growth of close to 8 per cent every year for at least a decade, Economic Survey 2025 has said."To achieve this growth, the investment rate must rise to approximately 35 per cent of GDP, up from the...
RBI tightens rules for payment system offences, raises penalty limit to Rs 10 Lakh, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) has introduced a revised framework for imposing monetary penalties and compounding offences under the Payment and Settlement Systems Act, 2007 (PSS Act), effective immediately. The revised guidelines outline...
Major announcements and all you need to know, ET BFSI
President Droupadi Murmu kicked off the first day of the Budget session in the Parliament on Friday. During her address, the President hailed the growing Indian economy and government’s progress in passing reforms. President Murmu further said, “Our aim is to make...
Trump says 25% tariffs on Mexico and Canada may not include oil
President Donald Trump speaks to members of the press in the Oval Office of the White House on Jan. 30, 2025.Kent Nishimura for The Washington Post | Getty ImagesDonald Trump has confirmed he will impose 25% tariffs on imports from Mexico and Canada from February,...
President Droupadi Murmu to Parliament as budget session gets underway, ET BFSI
New Delhi [India], January 31 (ANI): President Droupadi Murmu on Thursday stated that with the efforts of the government, India is going to become the third biggest economy in the world.The president said that my government's mantra is "Sabka Sath, Sabka Vikas, Sabka...
Budget 2025 may push large-scale deregulation, Economic Survey set to suggest, ET BFSI
The Economic Survey, tabled a day ahead of Finance Minister Nirmala Sitharaman’s Budget 2025 speech, signals a potential push for large-scale deregulation. Earlier, Chief Economic Advisor (CEA) Anantha Nageswaran emphasised that easing regulatory burdens could enhance...
Trump lashes out at Biden, DEI efforts after D.C. plane crash
U.S. President Donald Trump speaks to reporters about Wednesday's deadly midair collision between a U.S. Army Black Hawk helicopter and American Eagle flight 5342 near Ronald Reagan Washington National Airport, in the Brady Press Briefing Room at the White House in...
GST not applicable on penal charges levied by banks and NBFCs, CBIC clarifies, ET BFSI
No GST on penal charges levied by banks, NBFCs: CBICThe Central Board of Indirect Taxes and Customs (CBIC) has said that Goods and Services Tax (GST) will not be applicable on penal charges levied by banks and non-banking financial companies (NBFCs). This...
What is Economic Survey? What to expect from the 2024-25 Survey?, ET BFSI
The Union Government is set to present the Annual Economic Survey 2024-25, the official report card on the state of economy, on Friday.As per the protocol, Chief Economic Adviser (CEA) V Anantha Nageswaran will present the Economic Survey a day before the presentation...
RBI likely to continue liquidity easing as deficit seen above Rs 2 lakh crore this fiscal, ET BFSI
The Reserve Bank of IndiaThe Reserve Bank of India (RBI) is expected to take further actions to alleviate the banking system’s liquidity deficit, which has remained consistently above Rs 3 lakh crore in recent weeks.To tackle liquidity crunch which has reached almost...
Survey, BFSI News, ET BFSI
New Delhi: Majority of industry leaders expect the country's economy to grow between 6-6.9% in the financial year 2025-26, supported by technological advancements and reforms to improve the ease of doing business, says a survey. According to the Grant Thornton...
Understanding key terms from fiscal deficit to finance bill, ET BFSI
Nirmala Sitharaman, Minister of Finance & Corporate AffairsIndia’s first union budget was presented on February 18, 1860, by James Wilson, a Scottish economist and politician under British rule. Post-independence, the first budget of India was introduced by R K...
Budget Session will have several key economic and policy bills to shape India’s fiscal landscape, ET BFSI
New Delhi [India], January 30 (ANI): Following the presentation of the Economic Survey on January 31 and the Union Budget on February 1, the Budget Session 2025 is poised to address a range of significant legislative matters. This year's session will not only include...
Trump says he will send migrants to Guantanamo Bay
U.S. President Donald Trump speaks during an event to sign the Laken Riley Act, at the White House in Washington on Jan. 29, 2025.Elizabeth Frantz | ReutersPresident Donald Trump on Wednesday said he will order his administration to prepare Guantanamo Bay, the U.S....
Budget, RBI policy to steer India’s economic growth in next 10 days: UBI, ET BFSI
New Delhi [India], January 30 (ANI): The next 10 days will be pivotal for India's economic trajectory as the upcoming Union Budget announcement on February 1 and the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting on February 7 will lay down the...
Trump accuses Fed, Powell of creating inflation on heels of rate decision
President Donald Trump, right, speaks as Jerome Powell, Trump's nominee as chairman of the Federal Reserve, listens during a nomination announcement in the Rose Garden of the White House in Washington, D.C., Nov. 2, 2017.Olivier Douliery | Bloomberg | Getty...
US Fed pauses interest rate cuts, signaling a cautious approach ahead, ET BFSI
The US Fed on Wednesday paused interest rate cuts after its last slash, confirming an expected cautious approach to further reductions in the year and signalling a wait-and-watch approach to gauge what policies President Donald Trump may pursue.The Fed decided to...
Trump files formal notice of plan to appeal hush money conviction
Former U.S. President Donald Trump speaks to members of the media amid his trial on charges of covering up hush money payments linked to alleged extramarital affairs, at Manhattan Criminal Court in New York City, on May 16, 2024.Angela Weiss | Via ReutersPresident...
White House rescinds federal funds freeze memo
U.S. President Donald Trump looks on as he speaks to reporters aboard Air Force One before arriving at Joint Base Andrews, Maryland, U.S., Jan. 27, 2025. Elizabeth Frantz | ReutersThe White House on Wednesday formally rescinded a controversial memo that had ordered a...
DOJ drops appeal against co-defendants
Walt Nauta, personal aide to former U.S. President Donald Trump who faces charges of being Trump's co-conspirator in the alleged mishandling of classified documents, walks with Trump during a LIV Golf Pro-Am golf tournament at the Trump National Golf Club in Sterling,...
RBI likely to go for steps to spur growth in February monetary policy review: Jefferies, ET BFSI
Mumbai, The RBI's monetary policy committee meeting scheduled for February is likely to spring some positive surprises with a growth-favoured approach, according to brokerage firm Jefferies.Reserve Bank of India (RBI) policies can take a growth-supportive turn,...
Man eyed killing Treasury Secretary Scott Bessent at Capitol, police say
The dome of the Capitol is seen through a security fence on Capitol Hill in Washington, U.S., December 20, 2024.Kevin Lamarque | ReutersA Massachusetts man arrested at the U.S. Capitol with Molotov cocktails and a knife told police he was there to "kill" Treasury...
RBI’s bold liquidity measures signal rate cut in February, shift towards easing, ET BFSI
The Reserve Bank of India's (RBI) recent liquidity injection measures, announced to address a significant Rs 2.9 lakh crore liquidity deficit, are set to recalibrate the financial system but may not entirely resolve the shortfall. Analysts believe these steps, while...
Trump administration offering buyouts to nearly all federal workers
A woman walks down the stairs in front of the U.S. Capitol building, ahead of the presidential inauguration of Donald Trump, in Washington on Jan. 15, 2025.Marko Djurica | ReutersThe Trump administration is offering millions of federal workers the option to accept...
CBIC, BFSI News, ET BFSI
Goods and Services Tax (GST) will not be applicable on penal charges levied by banks and non-banking finance companies (NBFCs), the CBIC has said. The Central Board of Indirect Taxes and Customs (CBIC) through a circular has also clarified that GST will not be levied...
Judge pauses Trump funding freeze order until Feb. 3
A federal judge paused until next week a Trump administration order that would have frozen the issuance of existing federal grants and loans until agencies vetted them.Judge Loren AliKhan's ruling Tuesday during a hearing conducted on Zoom came just minutes before the...
Widened gap between credit and deposit requires further liquidity boost by RBI: Report, ET BFSI
New Delhi [India], January 29 (ANI): The Reserve Bank of India (RBI) should take further measures to boost liquidity says a report by the Union Bank of India.The report said the gap between the credit and the deposit growth in the Indian banks has gone up over the...
Medicaid state portals down, Sen. Wyden says
Medicaid reimbursement portals were down Tuesday in all 50 states on the heels of a funding freeze ordered by the Trump administration of federal grants and loans, Sen. Ron Wyden, D-Ore., said.Sen. Chris Murphy, a Connecticut Democrat, separately said that his state's...
Trump funding freeze challenged in lawsuit
U.S. President Donald Trump looks on as reporters ask questions aboard Air Force One during a flight from Las Vegas, Nevada, to Miami, Florida, U.S., January 25, 2025. Leah Millis | ReutersNon-profit groups and a small-business organization filed a lawsuit on Tuesday...
Short seller Andrew Left seeks to dismiss U.S. fraud case, filing shows
Andrew Left of Citron Capital on CNBC's Halftime Report.Adam Jeffery | CNBCProminent short seller Andrew Left is pressing a judge to dismiss U.S. charges that he manipulated the market and defrauded investors with his negative reports about companies, according to a...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Strong run threatenedU.S. stocks were set to fall to start the week. Shares of AI companies – which have driven the market in recent months – tumbled amid concerns about a...
Trump military executive orders on DEI, vaccines, transgender troops
U.S. President Donald Trump signs documents as he issues executive orders in the Oval Office at the White House on Inauguration Day in Washington, U.S., Jan. 20, 2025. Carlos Barria | ReutersPresident Donald Trump is expected Monday to sign multiple executive orders...
DOJ fires Jack Smith prosecution officials
James McHenry testifies before the Senate Judiciary Committee in the Hart Senate Office Building on Capitol Hill July 31, 2018 in Washington, DC.Chip Somodevilla | Getty ImagesThe Department of Justice on Monday fired officials involved in the now-terminated federal...
RBI asks banks to tighten cybersecurity oversight, digital fraud prevention, ET BFSI
RBI governor Governor Sanjay Malhotra asks banks to continue financial stability, deepen financial inclusion, ensure affordable credit. The Reserve Bank of India said on Monday its chief has urged banks to tighten their oversight on cybersecurity issues and to have...
CDC ordered to stop working with WHO immediately
A logo is pictured outside a building of the World Health Organization (WHO) during an executive board meeting on update on the coronavirus disease (COVID-19) outbreak, in Geneva, Switzerland, April 6, 2021. Denis Balibouse | ReutersU.S. public health officials have...
Trump’s rate-cut call can’t reverse underwhelming growth odds just yet, ET BFSI
It is a truth universally acknowledged that a copious supply of inexpensive money is no guarantee of durable economic growth.But as economic fault-lines on either side of the Atlantic become more visible after the first week of Donald Trump 2.0 in the Oval Office,...
Lower budget borrowing may add to India cash boost cheer, BFSI News, ET BFSI
India’s net borrowings will likely decline for a second straight year, possibly extending a rally in the nation’s bonds, as the government is expected to stick to its fiscal consolidation path. Prime Minister Narendra Modi’s administration will borrow 11.4 trillion...
Trump addresses House Republican conference in Florida
[The stream is slated to start at 5 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Donald Trump is set to address House Republicans at the kickoff of their annual agenda-planning conference on Monday afternoon.The three-day...
RBI announces measures to inject liquidity in banking system, BFSI News, ET BFSI
Reserve Bank of India (RBI) on Monday announced a host of measures to inject liquidity in the banking system, including bond purchases and dollar/rupee swaps.The central bank in a release said it will buy government bonds worth Rs 60,000 crore in three tranches and...
World Bank president cautions against hasty reaction to Trump policies, ET BFSI
By Duncan MiririDAR ES SALAAM, - Policymakers around the globe should not react in haste to announcements by U.S. President Donald Trump's administration, and be prepared to argue their case, World Bank President Ajay Banga told Reuters.Trump's first week in office...
Govt plans customised social security policy for gig workers from FY26, FM may announce plan in Budget, ET BFSI
New Delhi: The government could soon unveil a social security benefit plan for gig and platform workers, officials said.Transaction-based contribution by aggregators, or a common rate of contribution aimed at creating a sustainable and meaningful finance pool for the...
coffee, crude oil and cut flowers could see higher prices
US President Donald Trump speaks to the media after signing executive orders in the Oval Office of the White House in Washington, DC, on Jan. 23, 2025.Roberto Schmidt | AFP | Getty ImagesPresident Donald Trump's newly announced tariffs on goods from Colombia could...
RBI has hired over 800 officers, including techies in supervision and enforcement department, ET BFSI
RBI hires 800 plus officers, including techies, in supervision and enforcement departmentThe Reserve Bank of India (RBI) has strengthened its supervision and enforcement team by over 800 people since the pandemic, based on recruitment trends, resulting in increased...
Trump’s firing of independent watchdog officials draws criticism
U.S. President Donald Trump's late-night firing of inspectors general at multiple government agencies was criticized as illegal on Saturday by Democrats and others and drew concern from at least one fellow Republican.In what critics called a late-night purge, Trump...
India central bank’s bond purchases raise bets of February rate cut, investors say, ET BFSI
By Dharamraj DhutiaMUMBAI - The Reserve Bank of India's unexpected purchase of government bonds pushed down bond yields on Monday and raised bets for a cut in interest rates in February, investors said.The central bank's bond purchases accompanied daily overnight repo...
Centre invites applications for SEBI Chairperson as Buch’s tenure ends in Feb, ET BFSI
The Ministry of Finance’s Department of Economic Affairs has invited applications for the position of Chairperson of the Securities and Exchange Board of India (SEBI).Madhabi Puri Buch, the current SEBI Chairperson, will conclude her tenure on February 28, 2025. Buch,...
U.S. puts Colombia tariff, sanctions threat on hold after deportations deal
Colombian Foreign Relations Minister Luis Gilberto Murillo (C) looks on next to Vice-Minister of Foreign Affairs Jorge Rojas (L), Director of DAPRE Laura Sarabia (2nd-L), Ambassador of Colombia to the United States German Garcia-Pena (2nd-R), and Minister of Commerce,...
Trump wants to ‘clean out’ Gaza, send Palestinians to settle in Egypt and Jordan
People watch a television along a street in Khan Yunis in the southern Gaza Strip on Jan. 15, 2025, amid the ongoing war in the Palestinian territory between Israel and Hamas.Bashar Taleb | AFP | Getty ImagesPresident Donald Trump's suggestion that Egypt and Jordan...
Trump Greenland play is about national security
President Donald Trump has reiterated his desire to buy Greenland, and refused to rule out using military or economic coercion to achieve his goal of controlling the autonomous territory of Denmark. .However, the United States isn't the only country with an eye on the...
House Republicans divided over how to pay for Trump’s tax cuts
U.S. House Speaker Mike Johnson (R-LA) listens to remarks during a House Republican leaders press conference at the U.S. Capitol House in Washington, U.S., November 12, 2024. Nathan Howard | ReutersRepublicans who control the U.S. House of Representatives are trying...
CIA believes Covid-19 likely caused by lab leak, NBC News reports
"CIA continues to assess that both research-related and natural origin scenarios of the COVID-19 pandemic remain plausible."
White House makes 2,000-pound bombs available to Israel, undoing Biden’s pause
A Palestinian child plays with the rubble after Israel bombs Palestinians' tents and shelters in Rafah, Gaza, on May 27, 2024.Hani Alshaer | Anadolu | Getty ImagesPresident Donald Trump's White House has instructed the U.S. military to release a hold imposed by the...
Trump uses mass firing to remove more than a dozen independent inspectors general at a series of agencies
The Trump administration has fired more than a dozen independent inspectors general at government agencies, a sweeping action to remove oversight of his new administration that some members of Congress are suggesting violated federal oversight laws.The dismissals...
Trump’s stop in Las Vegas will focus on how he wants to eliminate taxes on tips
U.S. President Donald Trump disembarks Air Force One at Harry Reid International Airport, in Las Vegas, Nevada, on Jan. 24, 2025.Leah Millis | ReutersPresident Donald Trump is using a stop Saturday in Las Vegas to offer details on how he can begin excluding tips from...
Senate heads toward confirming Kristi Noem as Trump’s homeland security secretary
South Dakota Governor Kristi Noem looks on at the start of a Senate Homeland Security and Governmental Affairs Committee hearing on her nomination to be Secretary of Homeland Security, on Capitol Hill in Washington, DC, on January 17, 2025. Saul Loeb | Afp | Getty...
Women centric Direct Benefit Transfer have bled state finances: SBI, ET BFSI
NEW DELHI: The State Bank of India raised concerns about the financial stability of women-centric Direct Benefit Transfer (DBT) schemes in various states. These schemes, which provide direct cash benefit transfers to women particularly around election periods, could...
Trump third-term amendment tough to pass: Harvard Law professor
U.S. President Donald Trump speaks to journalists as he signs executive orders in the Oval Office of the White House in Washington, D.C., on Jan. 20, 2025.Jim Watson | AFP | Getty ImagesA newly introduced constitutional amendment that would allow President Donald...
Ombudsman disposed of 95 pc complaints received in FY24, BFSI News, ET BFSI
Mumbai: The RBI on Friday said the ombudsman disposed of 95.1 per cent of the complaints it received between April 1, 2023 and March 31, 2024. Under the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), a total of 9,34,355 complaints were received by the Office of...
RBI penalises J&K Bank, Bank of India, Canara Bank, BFSI News, ET BFSI
The Reserve Bank on Friday said it has penalised Jammu and Kashmir Bank, Bank of India, and Canara Bank for deficiencies in regulatory compliance. Jammu and Kashmir Bank has been penalised Rs 3.31 crore for contravention of certain norms related to financial inclusion...
Hegseth confirmed as Trump’s defense secretary in tie-breaking vote despite turmoil over his conduct
The Senate confirmed Pete Hegseth as the nation's defense secretary Friday in a dramatic late-night vote, swatting back questions about his qualifications to lead the Pentagon amid allegations of heavy drinking and aggressive behavior toward women.Rarely has a Cabinet...
Trump recommends ending FEMA ahead of California fire site visit
U.S. President Donald Trump speaks to the media flanked by Tennessee Governor Bill Lee, as they arrive to assess recovery efforts and tour areas devastated by Hurricane Helene, at Asheville Regional Airport in Asheville, North Carolina, U.S., Jan. 24, 2025. Leah...
RBIH seeks new CEO, releases advertisement as Rajesh Bansal’s term to end soon, ET BFSI
The tenure of Rajesh Bansal, CEO of RBI Innovation Hub (RBIH), a wholly owned subsidiary of the Reserve Bank of India, is set to come to an end as the central bank has released an advertisement for the apex post on Friday. The RBIH seeks a visionary Chief Executive...
Costco shareholders reject call for review of diversity programs
A truck driver climbs into a semitruck at a Costco Wholesale location in Hawthorne, California, on March 14, 2020.Patrick T. Fallon | Bloomberg | Getty ImagesCostco Wholesale shareholders voted strongly against a proposal requesting a report on the risks of...
RBI in touch with banks on new liquidity norms amid fears of credit flow being hit, ET BFSI
Mumbai, The Reserve Bank of India (RBI) has got in touch with banks this week to understand the impact of its new liquidity coverage norms following concerns that the move would adversely impact the flow of credit in the economy.Banks have provided some feedback,...
Here’s what Gen Z & Millennials expect from upcoming budget, ET BFSI
~Samriddhi Singh Mahar & Siddhi Nawar In an era of rising geopolitical volatility and turmoil in capital markets, add in the ongoing rupee crisis and India’s youth is truly confused about what the future holds. With an increasingly competitive job market and a...
Supreme Court allows anti-money laundering law to take effect
A woman carries a "SCOTUS v THE PEOPLE" sign in front of the U.S. Supreme Court in Washington on Monday, October 7, 2024. Bill Clark | Cq-roll Call, Inc. | Getty ImagesThe Supreme Court cleared the way on Thursday for the enforcement of an anti-money laundering...
Innovate, explore CBDC for efficient micro loan collection, ET BFSI
Suvendu Pati, CGM (FinTech Department), Reserve Bank of IndiaAddressing the challenges faced by banks during product testing, the Reserve Bank of India, Chief General Manager, Suvendu Pati brought attention to one of the causes behind delays and stretched timelines in...
Reforming the credit information landscape to foster confidence in credit market, ET BFSI
By streamlining existing regulations and introducing new provisions, the RBI seeks to empower borrowers, strengthen lenders, and foster a more inclusive and responsible credit market.The Reserve Bank of India (RBI) recently unveiled its Master Direction on Credit...
Trump declassifies JFK, RFK, King assassination files
President Donald Trump signed an executive order at the White House on Thursday to declassify government records related to the assassinations of President John Kennedy, Sen. Robert F. Kennedy and the Rev. Martin Luther King Jr.Trump's order could put an end to some...
Bumper dividend or higher provisions amid rupee fall, ET BFSI
India’s central bank is likely to deliver a significant dividend payout to the government for the fiscal year ending March, supported by its income from extensive foreign exchange transactions, according to brokerage estimates. Analysts estimate the Reserve Bank of...
Trump third White House term eyed by House resolution
From left, Rep. Andrew Clyde, R-Ga., Speaker of the House Mike Johnson, R-La., Reps. Andy Ogles, R-Tenn., and Dusty Johnson, R-S.D., talk in the House chamber of the U.S. Capitol before Johnson won the speakership for the 119th Congress on Friday, Jan. 3, 2025.Tom...
Government’s subsidy burden to exceed budget estimates to Rs 4.2 lakh crore in FY25: BoB report, ET BFSI
Government's subsidy burden is expected to rise to about Rs Rs 4.1-4.2 lakh crore in the financial year 2024-25 (FY25) more than the budget estimates of Rs 3.8 lakh crore, according to a report by the Bank of Baroda.The report said that the increase is driven...
Sen. Lisa Murkowski to vote against Hegseth
U.S. Sen. Lisa Murkowski (R-AK) ahead of a session on Capitol Hill in Washington on Jan. 22, 2025 in Washington, DC.Kayla Bartkowski | Getty ImagesSen. Lisa Murkowski announced Thursday that she will vote against confirming Pete Hegseth to lead the Pentagon, becoming...
Trump speaks to Davos, global markets respond
(The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a video above at that time.)WASHINGTON — President Donald Trump addressed the World Economic Forum in Davos, Switzerland, virtually on Thursday, his first major appearance at an...
Finance minister may balance growth and fiscal discipline, ET BFSI
The Union Budget for FY26 is expected to emphasise on targeted fiscal policies to sustain growth while adhering to the fiscal consolidation roadmap. Nomura anticipates a fiscal deficit target of 4.4% of GDP, a reduction from 4.8% in FY25, signaling a balanced approach...
Bid amount exceeds RBI offer for 1st time in daily VRR auction, ET BFSI
The Reserve Bank of India (RBI) Wednesday received bids worth Rs 1.72 lakh crore - 38% more than the notified amount of Rs 1.25 lakh crore - in the daily variable rate repo (VRR) auctions.Higher-than-expected monthly goods and services tax (GST) outflows, typically...
RBI expected to transfer another bumper payout to govt, analysts say, ET BFSI
India’s central bank will likely make another windfall payout to the government on account of its intervention in currency markets to stem the decline in the rupee, according to economists. IDFC First Bank Ltd. estimates 2 trillion rupees ($23.1 billion) of transfer...
Musk undercuts Trump’s Stargate AI investment announcement
The logo of OpenAI is shown on a mobile phone in front of a computer screen displaying the photographs of Sam Altman, left, and Elon Musk, March 14, 2024.Muhammed Selim Korkutata | Anadolu | Getty ImagesElon Musk claimed overnight Tuesday that tech giants OpenAI,...
Trump threatens Russia with sanctions if Ukraine persists
Russian President Vladimir Putin (L) looks at U.S. President Donald Trump during the welcoming ceremony prior to the G20 Summit's Plenary Meeting on November 30, 2018 in Buenos Aires, Argentina. Mikhail Svetlov | Getty ImagesPresident Donald Trump on Wednesday...
RBI MPC member Nagesh Kumar advocates two inflation rates for better policy making, ET BFSI
RBI Monetary Policy Committee member Nagesh Kumar has suggested that there should be two inflation rates - one including food prices and the other without food prices - so that relevant rates could be taken into account for policy making. Chief Economic Advisor V...
Trump pardons Silk Road creator Ross Ulbricht
US President Donald Trump signs executive orders during the inaugural parade inside Capital One Arena, in Washington, DC, on January 20, 2025. Angela Weiss | Afp | Getty ImagesPresident Donald Trump granted a full pardon on Tuesday to Ross Ulbricht, the founder of...
Union Budget will balance fiscal consolidation and growth; Capital expenditure likely to rise to Rs11-11.5 lakh cr: Report, ET BFSI
New Delhi [India], January 22 (ANI): The Union Budget for the fiscal year 2025-26, to be presented on February 1, 2025, is expected to strike a delicate balance between fiscal consolidation and growth-oriented measures, according to a Bank of Baroda report.To...
Quad foreign ministers meet in Washington in signal of Trump’s China focus
US Secretary of State Marco Rubio (2R) stands alongside Indo-Pacific Quad ministers, L-R, Japanese Foreign Minister Iwaya Takeshi, Indian Foreign Minister Subrahmanyam Jaishankar and Australian Foreign Minister Penny Wong, during a photo opportunity before meetings at...
Where’s the money? Can the Budget pull exporters out of their credit crunch?, ET BFSI
Credit crunch among MSME exporters in India has become a pressing challenge for quite some time. As per estimates, export credit in India has plummeted by 5% from March 2022 to March 2024, with priority sector lending for exports dropping by 41%. A report by the...
Trump AI investment with OpenAI, Oracle, Softbank
U.S. President-elect Donald Trump looks on as SoftBank CEO Masayoshi Son delivers remarks at Trump’s Mar-a-Lago resort on December 16, 2024 in Palm Beach, Florida. Andrew Harnik | Getty ImagesPresident Donald Trump will announce a joint venture Tuesday with OpenAI,...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. Day oneStock futures rose Tuesday in the first trading day of Donald Trump's second term as president. Markets were closed Monday for Martin Luther King Jr. Day. U.S. stocks are...
RBI eases settlement norms for ARCs, resolutions could quicken, ET BFSI
The Reserve Bank of India (RBI) has allowed asset reconstruction companies (ARCs) to settle dues with borrowers after examining all possible ways to recover their dues, doing away with the earlier direction that needed ARCs to exhaust all measures for recovery before...
Reserves adequate to absorb depreciation impact and RBI dollar sales, ET BFSI
While the rupee has depreciated at a modest pace compared to many of India’s trading partners, the armoury of forex reserves is a lot more comfortable than 2013. There is still more room for the value of the rupee to ease further.RBI's reserves adequacy ratio - an...
Reserves adequate to absorb depreciation impact and RBI dollar sales, ET BFSI
While the rupee has depreciated at a modest pace compared to many of India’s trading partners, the armoury of forex reserves is a lot more comfortable than 2013. There is still more room for the value of the rupee to ease further.RBI's reserves adequacy ratio - an...
Biden pardons his family in final minutes in office
President Joe Biden on Monday issued preemptive pardons for three of his siblings and two of their spouses, citing concerns that they will be targeted by "baseless and politically motivated investigations."The White House announced the pardons just minutes before...
RBI announces new external advisory committee for Universal Banks and SFBs, ET BFSI
The Reserve Bank of India (RBI) on Monday announced that it has constituted a Standing External Advisory Committee (SEAC) to evaluate applications for Universal Banks and Small Finance Banks (SFBs). The committee, appointed for a three-year term, will be chaired by MK...
Biden pardons Dr. Anthony Fauci, Gen. Milley, Jan. 6 committee members
U.S. President Joe Biden reacts as he speaks from the Roosevelt Room about the jobs report and the state of the economy at the White House in Washington, U.S., January 10, 2025. Elizabeth Frantz | ReutersPresident Joe Biden on Monday issued pardons for Dr. Anthony...
Trump inauguration live updates: TikTok, immigration, energy orders
Biden pardons Fauci, Gen. Milley, Jan. 6 committee members US President Joe Biden delivers remarks at a Department of Defense Commander in Chief Farewell Ceremony at Joint Base Myers-Henderson Hall in Arlington, Virginia, on Jan. 16, 2025. Roberto Schmidt | AFP |...
Will RBI go for rate cut in upcoming February policy amid rupee crisis?, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) is grappling with a delicate balance between managing inflation and addressing the pressures caused by a weakening rupee as it prepares for its upcoming monetary policy review in February. With the rupee having...
BFSI leaders on Budget 2025 priorities, ET BFSI
As India gears up for Union Budget 2025, there are multiple questions on table. How will the government sustain capital expenditure without straining its fiscal position? Can it balance economic growth with inflation management? Will job creation and skill development...
Trump promises harsh immigration limits on inauguration eve
Supporters of U.S. President-elect Donald Trump gather outside Capital One Arena, for a rally a day before he is scheduled to be inaugurated for a second term, in Washington, D.C., on Jan. 19, 2025.Daniel Cole | ReutersDonald Trump told thousands of roaring supporters...
RBI’s got a tough call in Feb as global peers opt for rate cuts, ET BFSI
Mumbai: Monetary easing by global central banks across developed and emerging market economies has gathered pace since November 2024, when Donald Trump was elected president of the United States. The latest monetary easing by Bank of Indonesia, the first central bank...
RBI study, BFSI News, ET BFSI
The benefits of intervening in the foreign exchange market for emerging market economies like India far outweigh the costs, according to an article published in RBI's Jan bulletin.The authors highlight that RBI's interventions, both in the spot and forward markets,...
China’s vice president meets with Elon Musk ahead of Trump inauguration
Beata Zawrzel | Nurphoto | Getty ImagesChina's Vice President Han Zheng met on Sunday with Tesla CEO Elon Musk and other members of the U.S. business community in Washington D.C., the official Xinhua news agency reported on Monday.Han told Musk he "welcomed Tesla and...
10-minute delivery is boosting Indian economy’s ‘brightening spot’, highlights RBI, ET BFSI
Private final consumption is proving to be a key bright spot in India's economic recovery, with e-commerce and quick commerce (q-commerce) playing a significant role, the Reserve Bank of India (RBI) stated in its recent bulletin. Calling consumption a "brightening...
How the rest of the world feels as Trump is inaugurated
U.S. President Donald Trump at a press conference at the end of the NATO summit in July 12, 2018.Bernd von Jutrczenka | dpa | picture alliance | Getty ImagesU.S. President-elect Donald Trump returns to the White House on Monday, and much of the world is watching on...
New “cooling-off facility” could soon mitigate mule menace as govt, RBI seek to stay a step ahead of fraudsters, ET BFSI
In an ongoing effort to combat online fraud, the government and the Reserve Bank of India (RBI) are exploring the option of implementing a "cooling off facility" designed to temporarily block funds deposited into bank accounts, ToI reported on January 20. This...
Ceasefire brings hope in Gaza as Hamas frees the first hostages
Palestinian Hamas militants hand over hostages kidnapped during the Oct. 7, 2023, attack on Israel by Hamas, to members of the International Committee of the Red Cross as part of a ceasefire and a hostages-prisoners swap deal between Hamas and Israel, in Gaza City, on...
Trump says he will revive TikTok, but wants 50% U.S. ownership
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump said he would revive TikTok access in the U.S. by executive order after he is sworn in on Monday, but said he...
Biden posthumously pardons Black nationalist Marcus Garvey
US President Joe Biden delivers his farewell address to the nation from the Oval Office of the White House in Washington, DC, on Jan. 15, 2025. Mandel Ngan | Via ReutersPresident Joe Biden on Sunday posthumously pardoned Black nationalist Marcus Garvey, who influenced...
Civil rights leaders and King family mark MLK Day as a special call to action as Trump takes office
When President-elect Donald Trump is sworn in as president of the United States inside the Capitol's rotunda, he will do so facing a bust of the Rev. Martin Luther King Jr. on the federal holiday commemorating King's legacy.It's a disquieting contrast for some civil...
Israeli forces attack Gaza after ceasefire deadline missed
A view over the Gaza Strip as seen from a position on the Israeli side of the border on Jan. 16, 2025.Amir Levy | Getty Images News | Getty ImagesIsraeli warplanes and artillery attacked the northern Gaza Strip on Sunday and Palestinian medics said eight people were...
Eliminate coal cess to support power intensive industries like aluminium, says Assocham, ET BFSI
Industry body Assocham has pitched for the removal of coal cess stating that the move will support power-intensive industries like aluminium and maintain competitiveness of the domestic industry. In its pre-budget memorandum 2025-26, the industry body said that "high...
Thousands converge on Washington for a march days before Trump takes office
People attend the "People's March on Washington" ahead of the presidential inauguration of U.S. President-elect Donald Trump, in Washington, D.C., on Jan. 18, 2025Jon Cherry | ReutersThousands of people from around the United States were rallying in the nation's...
South Korea’s President Yoon attends court hearing on extending detention
South Korea's impeached President Yoon Suk Yeol arrives at the Corruption Investigation Office for High-ranking Officials (CIO), in Gwacheon, South Korea, January 15, 2025. Korea Pool | Via ReutersSouth Korea's impeached President Yoon Suk Yeol attended a court...
Ceasefire between Israel and Hamas will go into effect at 0630 GMT on Sunday
People react to the reports of a possible Gaza ceasefire and hostage release deal being reached during a rally calling for the return of captives held in the Gaza Strip on Jan. 15, 2025 in Tel Aviv, Israel. Amir Levy | Getty Images News | Getty ImagesQatar's foreign...
DOJ sues Walgreens alleging prescriptions filled without medical purposes
In an aerial view, a customer enters a Walgreens store on Jan.4, 2024 in San Pablo, California.Justin Sullivan | Getty ImagesThe Department of Justice said Friday that it sued pharmacy giant Walgreens for allegedly dispensing millions of unlawful prescriptions.The DOJ...
Disinflation can be expected to continue unevenly, RBI says, BFSI News, ET BFSI
Disinflation can be expected to continue unevenly, opening up some more albeit limited space for monetary policy easing, according to the Reserve Bank of India’s (RBI) January 2025 bulletin. This shift could provide welcome relief to households and individuals...
Biden declares Equal Rights Amendment law; impact is unclear
U.S. Representative Cori Bush along with other U.S. lawmakers and advocates hold a press conference outside the Capitol Hill building to urge U.S. President Joe Biden to certify the Equal Rights Amendment (ERA) before his term ends in January in Washington DC, United...
Trump economic policy team announced
White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018.Jonathan Ernst | ReutersPresident-elect Donald Trump on Friday announced senior staff appointments to...
Trump inauguration to be moved indoors due to extreme cold
The US Capitol in Washington, DC, US, on Monday, Jan. 6, 2025.Al Drago | Bloomberg | Getty ImagesPresident-elect Donald Trump said his inaugural ceremony will be moved indoors due to the extreme cold set to grip Washington, D.C., on Monday."There is an Arctic blast...
Democrats push for financial oversight
Seating are pictured at the West Front of the U.S. Capitol building as preparations are underway for the upcoming presidential inauguration of U.S. President-elect Donald Trump, in Washington, U.S., Jan. 15, 2025. Fabrizio Bensch | ReutersSenate Democrats are pushing...
Trump and China’s Xi discuss TikTok, trade, fentanyl, president-elect says
President Donald Trump talks with Chinese President Xi Jinping as Xi arrives for dinner at the start of their summit at Trump’s Mar-a-Lago estate in West Palm Beach, Florida, U.S. April 6, 2017.Carlos Barria | ReutersPresident-elect Donald Trump said he spoke on the...
New RBI directive to banks, NBFCs to ensure nomination in FDs, saving accounts: Check details, ET BFSI
The Reserve Bank of India has issued a notification stating that nomination is not available in a large number of deposit accounts with banks and NBFCs. To avoid undue hardship to survivors/ family members of deceased depositors, the RBI has asked banks to obtain...
Canada’s trade chief warns oil and gas exports could be in play
If President-elect Donald Trump follows through with his threat to impose tariffs on Canadian goods, Ottawa is prepared to retaliate with levies that could take aim at the energy sector, Canada's minister of international trade, Mary Ng, said Thursday."Everything is...
Supreme Court lawyer charged with tax evasion on poker winnings
Tom Goldstein, who writes SCOTUSblog.com, poses for a photograph in front of the Supreme Court, Thursday, Oct. 31, 2013, in Washington.Alex Brandon | APA top Supreme Court lawyer who co-founded a popular blog about the high court was indicted Thursday in Maryland on...
RBI eases FEMA norms to boost use of Indian rupee amid currency drop, ET BFSI
The Reserve Bank of India (RBI) has introduced significant relaxations under the Foreign Exchange Management Act (FEMA) to encourage the use of the Indian Rupee (INR) and local currencies for cross-border transactions. This move is aimed at boosting trade and...
BFSI leaders to share key policy priorities today, ET BFSI
14 days to go before the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman presents the Union Budget 2025 on February 1 in Lok Sabha. With inflation running high, growth projections slipping to as low as 5.4 per cent in Q2 of FY25, and geopolitical...
The BRICS bloc is growing — and Trump’s tariff threat isn’t expected to put off aspiring members
Family photo of leaders taken at the 16th BRICS Summit in Kazan, Russia on Oct. 24, 2024. Anadolu | Anadolu | Getty ImagesPresident-elect Donald Trump has pledged a 100% tariff against BRICS nations if they continue to undermine the U.S. dollar — but the threat won't...
American Express to pay $230 million to settle fraud probe
Silas Stein | Picture Alliance | Getty ImagesAmerican Express will pay approximately $230 million to resolve a federal criminal wire fraud investigation and settle allegations of deceptive marketing, the company said Thursday.The total includes more than $138 million...
SALT cap fight ramps up
WASHINGTON — An influential group of five House Republicans from high-tax states is threatening to hold up a major tax package that is a top priority for President-elect Donald Trump unless they get a significant boost to the amount that their constituents can deduct...
Trump, Vance official portraits released
Official portraits of President-elect Donald Trump and Vice-President-elect J.D. VancePresident-elect Donald Trump's transition team shared official portraits of Trump and Vice President-elect JD Vance days before their inauguration.Both of the brightly lit portraits...
RBI liberalises FX rules to promote cross-border trade, ET BFSI
To encourage the use of the rupee and other currencies to settle cross-border transactions, India's central bank took steps to further liberalise regulations under the foreign exchange management act, it said in a release on Thursday.Indian exporters will now be able...
Indian central bank’s daily liquidity infusion to aid money markets, traders say, ET BFSI
By Dharamraj DhutiaMUMBAI - Reserve Bank of India's plan to infuse liquidity into the banking system daily via variable rate repo (VRR) auctions will lead to a drop in overnight interbank and money market rates, as well as near-end overnight index swaps, traders said...
RBI introduces daily VRR operations to boost banking liquidity amidst deficit, ET BFSI
The central bank Wednesday prioritized liquidity infusion into the banking system by announcing daily variable rate repo (VRR) operations, which would accompany the up to $3-billion worth of dollar-rupee buy-sell swaps conducted since Friday, as Mint Road seeks to...
Israel-Hamas ceasefire hostage deal agreed
Supporters of Israeli hostages, who were kidnapped during the deadly October 7 2023 attack by Hamas, react to news on the Gaza ceasefire negotiations, during a protest to demand a deal to bring every hostage home, in Tel Aviv, Israel, January 15, 2025. Ronen Zvulun |...
Trump picks face Senate confirmation hearings
Tense Pete Hegseth hearing kicked off Trump Cabinet confirmationsThe process of appointing Trump's Cabinet kicked off Tuesday with a contentious Senate confirmation hearing for Defense Secretary hopeful Pete Hegseth, one of the president-elect's most controversial...
Biden administration will announce it’s lifting state sponsor of terrorism designation for Cuba
A man with a tattoo depicting late revolutionary hero Ernesto 'Che' Guevara wears a T-shirt with colors of the U.S. flag in downtown Havana, Cuba, October 18, 2024. Norlys Perez | ReutersThe Biden administration on Tuesday is expected to lift the U.S. designation of...
RBI’s 62nd Deputy Governor Michael Patra’s tenure comes to a close, ET BFSI
RBI DG Patra retires on January 15th, 2025 after a tenure of five yearsMichael Debabrata Patra, the 62nd Deputy Governor of the Reserve Bank of India (RBI), will be concluding his tenure today i.e 15th January, 2025, after serving for five years. Dr Patra was...
RBI reshuffles portfolios of Deputy Governors; Michael Patra’s tenure concludes, ET BFSI
The Reserve Bank of India (RBI) on Tuesday announced a reshuffling of portfolios among three of its four Deputy Governors, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan Janakiraman, effective January 15, 2025. The reshuffle coincides with the conclusion of Michael...
Biden administration finalizes crackdown on Chinese vehicles
Chinese made BYD passenger battery electric vehicles and plug-in hybrid electric vehicles collectively known as new energy vehicles in China in a compound in Sheerness, Kent. Issue date: Thursday April 4, 2024.Gareth Fuller | Pa Images | Getty ImagesPresident Joe...
MeitY conducts consultation meeting with top bureaucrats, industry representatives on draft DPDP Rules, ET BFSI
Ashwini Vaishnaw, Minister for Electronics and Information TechnologyNEW DELHI: The Ministry of Electronics and Information Technology (MeitY) organised a consultation meeting with government officials and industry on the Draft Digital Personal Data Protection (DPDP)...
South Korea’s President Yoon Suk Yeol arrested as agencies probe his short-lived martial law decree
SEOUL, SOUTH KOREA - JANUARY 15: Investigators arrive at the entrance to the presidential residence of Yoon Suk Yeol, as authorities try to execute an arrest warrant, in Seoul, South Korea, on January 15, 2025. Anadolu | Anadolu | Getty ImagesSouth Korean president...
Plummeting rupee could delay RBI’s rate cut plans this Februaray, ET BFSI
Some analysts are pushing back expectations for interest rate cuts in India as the rupee's slump to record lows fans worries about inflation, even as growth in Asia's third-largest economy slows.The weaker currency could add to elevated inflation through costlier...
Trump to create External Revenue Service for tariff collection
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday said that he will create an "External Revenue Service" to collect "Tariffs, Duties and all Revenue...
Trump Defense pick Pete Hegseth Senate confirmation hearing
Defense secretary nominee Pete Hegseth meets with Senator-elect Jim Banks (R-IN) on Capitol Hill in Washington, U.S., December 5, 2024.Evelyn Hockstein | ReutersSecretary of Defense hopeful Pete Hegseth is set to appear for a high-stakes Senate confirmation hearing...
Firm to pay $45 million in penalties
Scott Olson | Getty ImagesTwo Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative charges by the Securities and Exchange Commission that they violated more than 10 separate securities law provisions related to their...
India’s central bank to judiciously handle FX reserves amid headwinds, sources say, ET BFSI
By Jaspreet Kalra, Siddhi Nayak, Nimesh VoraMUMBAI, - India's central bank will be more judicious in its use of foreign exchange reserves to mitigate domestic currency market volatility amid strong global headwinds, three sources aware of the development said.The...
RBI rate cut delay will lead to more growth sacrifice; must deliver 0.25% reduction in Feb review, ET BFSI
RBI rate cutsThe RBI must start a rate cut cycle with a 0.25 per cent reduction in key rates at the next policy review in February, a German brokerage said on Tuesday. Delaying rate cuts will only lead to more sacrifice on growth, analysts at Deutsche Bank (DB) said,...
Trump inauguration schedule: MAGA rally, fireworks show
A member of the U.S. Army Herald Trumpets participates in a rehearsal for inauguration on the West Front of the U.S. Capitol on January 12, 2025 in Washington, DC. Kevin Dietsch | Getty ImagesDonald Trump's presidential transition team on Monday released a schedule of...
Despite cyclical downturn in India, govt unlikely to unleash any fiscal stimulus measures: Report, ET BFSI
India's market capitalization-to-GDP ratio has reached an all-time high, standing at approximately 135 per cent.NEW DELHI: India is currently experiencing a cyclical economic downturn, with gross domestic product (GDP) growth projected at 6.1 per cent for both FY25...
Critical minerals are big part of Donald Trump’s fixation
An aircraft alledgedly carrying US businessman Donald Trump Jr. arrives in Nuuk, Greenland on January 7, 2025.Emil Stach | Afp | Getty ImagesU.S. President-elect Donald Trump's pursuit to acquire Greenland could well be motivated by critical minerals, with mining...
U.S. Justice Department releases report on Trump attempt to overturn 2020 election
Special Counsel Jack Smith makes a statement to reporters about the 37 federal charges returned by a grand jury in an indictment of former U.S. President Donald Trump on charges of unauthorized retention of classified documents and conspiracy to obstruct justice as...
Biden gives foreign policy legacy speech
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is delivering an address aimed at highlighting his foreign policy achievements in office.The Democratic president's speech at the...
Trump Media DJT shares jump ahead of inauguration
Jakub Porzycki | Nurphoto | Getty ImagesShares of Trump Media jumped more than 14% in midday trading Monday, ahead of President-elect Donald Trump's inauguration next week.The stock is now on pace for its best day since Nov. 18, when shares surged 16.65% following...
Jeff Bezos enables Trump democracy threat: Outgoing Washington Post columnist
Jeff Bezos, founder and executive chairman of Amazon and owner of the Washington Post, takes the stage during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City. Michael M. Santiago | Getty ImagesAmazon founder...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Trimming techU.S. stock futures fell Monday as investors were poised to drop key tech stocks. The drop in growth stocks comes as the U.S. 10-year Treasury yield climbs. A...
Finance ministry to meet heads of banks on Jan 15 to review financial inclusion schemes, ET BFSI
The Finance ministry from time to time launched various drives to achieve saturation under Pradhan Mantri Jan dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).NEW DELHI: Finance Ministry has called a meeting...
U.S. tightens its grip on AI chip flows across the globe
US President Joe Biden delivers remarks on advancing the safe, secure, and trustworthy development and use of artificial intelligence, in the East Room of the White House in Washington, DC, on October 30, 2023.Brendan Smialowski | AFP | Getty ImagesThe U.S. government...
Foreign capital inflows return in Dec, RBI’s easing cycle likely to begin in Feb, ET BFSI
New Delhi, The conditions are turning favourable for rate cuts in India and the Reserve Bank of India's (RBI) easing cycle is likely to begin from February, according to a report on Monday.The central bank's neutral policy stance gives it flexibility to cut rates.Food...
Finmin to meet heads of banks on Jan 15 to review financial inclusion schemes, ET BFSI
Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday to review progress of various financial inclusion schemes, including Jan Suraksha and Mudra Yojana. The meeting, which would see participation from representatives of private...
Business correspondents urge RBI to ease domestic transfer limits and rules, ET BFSI
Business correspondents (BCs)-who process thousands of crores of rupees daily in domestic remittances-have urged the Reserve Bank of India (RBI) to relax the restrictions it had imposed on monthly and daily transfers 14 years ago, according to people aware of the...
Finmin may skip bold cuts in personal I-T or surcharge for the rich, but can still take steps to ease burden, ET BFSI
Sovereigns are like business empires. As conglomerates tirelessly dream up ways to conquer new markets, states religiously devise methods to mop up more tax. They pose as morally righteous, innovative and guardians of national interest - yet, endeavouring to appear...
LA still in ‘dangerous situation’
The U.S. military is prepared to deploy to help contain the wildfires that have devastated Los Angeles, Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell said Sunday."There are active duty military personnel that are on a 'prepare to deploy'...
Trump Treasury pick Bessent to divest assets to avoid conflicts
Scott Bessent, who U.S. President-elect Donald Trump has nominated to lead the U.S. Treasury Department, walks towards the New York Stock Exchange (NYSE), on the day U.S. President-elect Donald Trump will ring the opening bell at NYSE to celebrate being named Time...
Biden admin delays enforcement of order blocking Nippon Steel, U.S. Steel deal, companies say
U.S. President Joe Biden attends a briefing on the federal response to the wildfires across Los Angeles, in the Oval Office at the White House in Washington, U.S., Jan. 10, 2025. Elizabeth Frantz | ReutersThe Biden administration delayed until June an order for Nippon...
Special counsel Jack Smith resigns from DOJ as Trump’s fight to block final report continues
Special counsel Jack Smith, who is overseeing the prosecution of former President Donald Trump in two federal cases, was the target of an attempted swatting at his Maryland residence on Christmas Day.Ricky Carioti | The Washington Post | Getty ImagesSpecial Counsel...
Can you switch from fixed to floating interest rate when RBI cuts repo rate and vice-versa?, ET BFSI
The Reserve Bank of India (RBI) has issued a new circular on FAQs on 'Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans'. It states that regulated entities, such as banks, must provide the home loan borrower with the option of...
Gold trade bodies call for flexibility in monetisation scheme, ET BFSI
Indians have an estimated 22,000 tonnes of gold lying in their households, equivalent to what the country would have imported in 26 years to make jewellery, bars and coins. To unleash this idle gold and help reduce imports, gold trade bodies have written to the...
RBI stares at acute banking liquidity crunch as MIBOR breaches 7%, ET BFSI
India's interbank liquidity has tightened significantly, prompting calls for the Reserve Bank of India (RBI) to adopt proactive measures such as buy/sell swaps, OMO purchases, and potential CRR cuts to ease the crunch. With the Money Market Interbank Offer Rate...
Penalties surge as RBI cracks the whip on lenders, ET BFSI
Mumbai: Increasing enforcement of penalties by the Reserve Bank of India (RBI) last fiscal are reflected in the sharp jump on bank payments under such heads during the year.Reserve Bank of India (RBI) data in the annually published Trend and Progress of Banking in...
Fired Disney employee to plead guilty in peanut hacking case
File: Guests eat at Great Maple Restaurant at the Pixar Place Hotel at the Disneyland Resort in Anaheim, CA.Paul Bersebach | Medianews Group | Getty ImagesA former Disney employee agreed to plead guilty in a federal criminal case where he is accused of hacking into...
Trump Organization to limit president-elect’s involvement under new ethics plan
U.S. President-elect Donald Trump speaks after a meeting with Republicans in Congress at the U.S. Capitol building in Washington, U.S. Jan. 8, 2025. Jeenah Moon | ReutersThe Trump Organization on Friday unveiled a new ethics plan that it says will limit...
Trump seeks Putin meeting as Biden announces aid package to Kyiv
A souvenir shopkeeper displays Matryoshka dolls featuring Russian President Vladimir Putin and U.S. presidents, including Donald Trump.Misha Friedman | Getty Images News | Getty ImagesPresident-elect Donald Trump floated the possibility of a meeting with Kremlin...
Trump sentenced without penalty in New York hush money case
U.S. President-elect Donald Trump appears remotely for a sentencing hearing in front of New York State Judge Juan Merchan with his attorney Todd Blanche (L) at Manhattan Criminal Court on January 10, 2025 in New York City. Curtis Means | Getty ImagesPresident-elect...
Former WWE boss Vince McMahon resolves SEC charges over undisclosed settlements
TKO Executive Chairman of the Board Vince McMahon is seen during a ceremony announcing Dwayne "The Rock" Johnson has joined the Board of Directors for TKO at New York Stock Exchange on January 23, 2024 in New York City.Michelle Farsi | UFC | Getty ImagesThis is...
Judge scraps Biden’s Title IX rules, reversing expansion of protections for LGBTQ+ students
U.S. President Joe Biden delivers remarks during the Tribal Nations Summit at the Department of the Interior in Washington, D.C., U.S., December 9, 2024. Elizabeth Frantz | ReutersThe Biden administration's Title IX rules expanding protections for LGBTQ+ students have...
Venezuela opposition leader Machado freed, movement says
Venezuelan opposition leader Maria Corina Machado waves a national flag during a protest called by the opposition on the eve of the presidential inauguration, in Caracas on January 9, 2025. Juan Barreto | Afp | Getty ImagesVenezuela opposition leader Maria...
Supreme Court rejects Trump hush money sentencing delay bid
Former U.S. President Donald Trump, alongside his attorney Todd Blanche, speaks to the media as he arrives for his criminal trial for allegedly covering up hush money payments at Manhattan Criminal Court on May 30, 2024 in New York City.Michael M. Santiago | Via...
RBI likely to follow the path of shallow rate cut in Feb MPC meeting: Report, ET BFSI
New Delhi [India], January 10 (ANI): The Reserve Bank of India (RBI) may opt for shallow rate cuts in its upcoming Monetary Policy Committee (MPC) meeting in February 2025, says a report by Sharekhan, a capital markets company. This comes amidst a cautious global...
Photos show former President Jimmy Carter’s state funeral
A picture of U.S. President Jimmy Carter is seen as members of the public sign a condolence book in the U.S. Capitol Visitor Center on Jan. 8, 2025 in Washington, DC.Kevin Dietsch | Getty ImagesAmerican politicians, foreign dignitaries and family members honored...
Biden to deliver eulogy at Jimmy Carter’s state funeral
[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden will deliver a eulogy Thursday morning at the state funeral for former President Jimmy Carter.The speech at the Washington...
Lebanon’s army chief elected president, showing regional shifts
Lebanese lawmakers attend a parliamentary session to elect a president, in Beirut, on Jan. 9, 2025. Anwar Amro | Afp | Getty ImagesLebanon's parliament elected army chief Joseph Aoun head of state on Thursday, filling the vacant presidency with a general who enjoys...
Yakuza leader pleads guilty to trafficking nuclear materials in New York
Takeshi Ebisawa, a leader of the Japanese organized crime syndicate yakuza, in an undated photo. Ebisawa pleaded guilty on Jan. 8, 2025, in New York federal court to charges of trafficking nuclear materials and conspiracy to traffic narcotics and heavy weapons.NBC...
Will new RBI Governor change the central bank’s rupee management policy?, ET BFSI
India's new Reserve Bank of India (RBI) Governor, Sanjay Malhotra, faces a critical choice on managing the rupee's exchange rate: maintain the tightly controlled approach of his predecessor or adopt a more flexible stance as the dollar continues to strengthen.Under...
Man arrested at U.S. Capitol with machete as Jimmy Carter lies in state
A machete and three knives that U.S. Capitol Police say were confiscated from a man who was arrested at a Capitol screening checkpoint as former President Jimmy Carter lay in state in the Capitol Rotunda, Jan. 8, 2025.Source: The United States Capitol PolicePolice...
What Union Budget 2024 delivered, ET BFSI
Finance Minister Nirmala Sitharaman has already concluded the pre-budget consultation with about nine stakeholder groups, and the Union Budget 2025 is slated to be presented on February 1, also marking Sitharaman’s eighth budget. While this year's key announcements...
Biden cancels Italy trip due to California wildfires
US President Joe Biden arrives on the South Lawn of the White House as he returns to Washington, DC, from Camp David, on Jan. 2, 2025. Chris Kleponis | AFP | Getty ImagesU.S. President Joe Biden canceled an upcoming trip to Italy due to the wildfires in California,...
Tuhin Kanta Pandey appointed as Revenue Secretary; Arunish Chawla named as DIPAM Secretary, ET BFSI
Tuhin Kanta Pandey, currently Secretary of the Department of Investment and Public Asset Management (DIPAM), has been appointed as Secretary of the Department of Revenue, succeeding Shri Arunish Chawla, the Appointments Committee of the Cabinet (ACC) on Wednesday...
India’s new central bank chief seeks to improve forecasts, sources say, ET BFSI
By Siddhi Nayak and Swati BhatMUMBAI - India's new central bank governor Sanjay Malhotra has initiated a review of the Reserve Bank of India's inflation and growth forecasting tools to minimise projection errors, four sources said.Malhotra, who took charge last month,...
Musk is courting Germany’s far right. European leaders can’t do much about it
Elon Musk's plan to host a chat with the leader of the Alternative for Germany (AfD) party on his X social media platform has angered European politicians— but they'll struggle to stop him.The tech billionaire is set to speak on Thursday with Alice Weidel, head of the...
Covid stimulus may have contributed ‘a little bit’ to inflation
Treasury Secretary Janet Yellen speaking with CNBC's Sara Eisen (not shown) at the U.S Treasury Department on Jan. 8th, 2024.CNBCTreasury Secretary Janet Yellen said Wednesday that the stimulus spending signed into law by President Joe Biden to aid the U.S. recovery...
Finmin to hold meeting with MFI players on Wed, ET BFSI
Union Finance Minister, Nirmala SitharamanNew Delhi, Finance Ministry will hold a meeting with microfinance institutions (MFIs) on Wednesday amid rising bad loans and delinquencies across all types of lenders in the sector. According to sources, the Department of...
Trump won’t rule out using U.S. military to control Panama Canal, Greenland
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday declined to rule out using the U.S. military to take control of the Panama Canal and Greenland,...
RBI consolidates instructions on credit information of customers, ET BFSI
RBI consolidates instructions on credit information of customersThe RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the...
Trump threatens hell if Gaza hostages not released
U.S. President-elect Donald Trump gestures as he makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.Carlos Barria | ReutersPresident-elect Donald Trump warned Tuesday that "all hell will break out in the Middle East" if Hamas does not release the...
RBI announces results of 3rd edition of Global Hackathon, ET BFSI
Mumbai, The Reserve Bank on Tuesday announced the names of the winners of the third edition of its Global Hackathon with the themes 'Zero Financial Frauds' and 'Being Divyang Friendly'. The hackathon received an enthusiastic response with 534 proposals, of which 39...
Trump loses bid to halt sentencing in hush money case
Former President Donald Trump arrives at Manhattan Criminal Court, Thursday, May 30, 2024, in New York.Seth Wenig | Via ReutersA New York appeals court judge on Tuesday rejected a request by President-elect Donald Trump to delay his criminal sentencing Friday for his...
Trump announces $20 billion foreign investment to build new data centers
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday announced a $20 billion foreign investment to build new data centers across the United...
FTC chair Lina Khan fears Trump deal for Amazon, Facebook
Federal Trade Commission Chair Lina Khan said Tuesday she hopes the incoming Trump administration will not let Amazon and Facebook parent Meta off the hook from pending antitrust lawsuits by her agency with a "sweetheart deal."But, "I can't predict what future people...
Pension oriented schemes among mutual funds’ 15-point suggestion to Finance Minister, ET BFSI
The Association of Mutual Funds in India (AMFI) has submitted a detailed 15-point proposal to the Union Ministry of Finance ahead of the Union Budget FY25-26. Key highlights include the restoration of long-term indexation benefits for debt schemes, adjustments to...
RBI consolidates instructions on credit information of customers, ET BFSI
RBI consolidates instructions on credit information of customersThe RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the...
Trump seeks to block New York hush money sentencing
Former U.S. President Donald Trump sits in the courtroom during his hush money trial at Manhattan criminal court on April 26, 2024 in New York City. Michael M. Santiago | Getty ImagesAttorneys for President-elect Donald Trump sought to block his scheduled sentencing...
Canada’s Prime Minister Justin Trudeau resigns as Liberal Party leader
Canada Prime Minister Justin Trudeau makes an announcement outside Rideau Cottage in Ottawa on Monday, Jan. 6, 2025.Adrian Wyld | The Canadian Press via APCanada's Justin Trudeau on Monday said he would step down from the helm of the ruling Liberal Party, but will...
Congress to certify Trump’s election win over Harris
FILE PHOTO: A mob of supporters of U.S. President Donald Trump fight with members of law enforcement at a door they broke open as they storm the U.S. Capitol Building in Washington, U.S., January 6, 2021.Leah Millis | ReutersCongress will convene Monday to certify...
Italy’s right-wing leader Meloni positions herself as Trump’s ally in Europe
U.S. President-elect Donald Trump meets with Italian Prime Minister Giorgia Meloni at Mar-a-Lago in Palm Beach, Florida, U.S. January 4, 2025. Italian Government | ReutersItalian Prime Minister Giorgia Meloni made a surprise visit to Mar-a-Lago on Sunday, meeting...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Looking for a rebound Traders work on the floor at the New York Stock Exchange on Dec. 10, 2024.Brendan McDermid | ReutersU.S. stock futures ticked higher Monday after a losing...
Elon Musk asks if US should ‘liberate Britain’
Tesla CEO Elon Musk, Co-Chair of the newly announced Department of Government Efficiency (DOGE), arrives on Capitol Hill on December 05, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesElon Musk has questioned whether the United States should "liberate the...
Zelenskyy says Kyiv security guarantees will only work if the U.S. provides them
(COMBO) This combination of pictures created on November 07, 2024 shows Ukraine's president Volodymyr Zelensky (L) arrives to give a press conference on the sideline of a EU summit in Brussels, on October 17, 2024, and former US President and Republican presidential...
Experts eye fiscal consolidation, MSME credit reforms, ET BFSI
Finance Minister Nirmala Sitharaman will table the Union Budget 2025 on February 1 in the Lok Sabha. With India aspiring to achieve its Viksit Bharat 2047 vision and climb to the position of the third-largest global economy, unveiling of Budget 2025 precedes many...
Canada PM Trudeau is likely to announce resignation, Reuters reports
The Prime Minister of Canada, Justin Trudeau, walks through the streets of the capital before attending the APEC CEO Summit, a business event held in parallel with the APEC Summit, on November 15, 2024, in Lima, Peru. Klebher Vasquez | Anadolu | Getty ImagesCanadian...
Melania Trump movie by Amazon Prime planned
Former U.S. President and Republican presidential candidate Donald Trump and former first lady Melania Trump smile after speaking during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, early on Nov. 6, 2024.Jim Watson |...
Jimmy Carter’s funeral begins by tracing 100 years from rural Georgia to the world stage
Former President Jimmy Carter interviewed for "The Presidents' Gatekeepers" project at the Carter Center, Atlanta, Georgia, September 14, 2011.David Hume Kennerly | Archive Photos | Getty ImagesJimmy Carter 's extended public farewell began Saturday in Georgia, with...
Washington Post cartoonist quits after drawing of Bezos, other billionaires with Trump rejected
Editorial cartoonist Ann TelnaesCourtesy of Ann TelnaesA Washington Post cartoonist has quit her role at the paper, saying that her bosses blocked publication of a satirical cartoon that depicted billionaires, including one resembling Post owner Jeff Bezos, kneeling...
RBI Bhubaneswar branch holds financial literacy programme for visually challenged persons, ET BFSI
Bhubaneswar, As part of its drive to create awareness on financial literacy among people, RBI's Bhubaneswar branch on Saturday organised a programme for visually challenged persons and distributed booklets translated into Braille script among the participants. The...
Hillary Clinton, George Soros and Denzel Washington will receive the highest U.S. civilian honor
US President Joe Biden and former secretary of state Hillary Clinton look on as former president Bill Clinton (not pictured) speaks during the Clinton Global Initiative annual meeting in New York on September 23, 2024. Andrew Caballero-Reynolds | AFP | Getty...
All you need to know, from expected tax reforms to fiscal measures, ET BFSI
Union Budget 2025With the economy facing challenges like a 5.4 per cent growth rate in Q2 FY25, the lowest in seven quarters and high inflation, the upcoming Union Budget 2025 will play a crucial role in steering India’s fiscal policy toward sustained growth. The...
RBI removes lending restrictions on microfinance company Arohan Financial Services, ET BFSI
Kolkata: The Reserve Bank of India has removed the lending restrictions on microfinance company Arohan Financial Services after it became satisfied with the company's revamped processes as well as its commitment to adhere to the regulatory guidelines.Arohan can resume...
RBI okays NCBL, Cosmos Co-operative bank merger, BFSI News, ET BFSI
The Reserve Bank of India (RBI) today approved the amalgamation of the National Co-operative Bank Ltd., Bangalore (Karnataka) with Cosmos Co-operative Bank Limited (Maharashtra). The scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4)...
Trump hush money sentencing set for Jan. 10
Former U.S. President Donald Trump leaves the courthouse after a jury found him guilty of all 34 felony counts in his criminal trial at New York State Supreme Court in New York on May 30, 2024.Justin Lane | Via ReutersA judge on Friday rejected a request that he...
Trump touts Mike Johnson for House speaker
U.S. President-elect Donald Trump shakes hands with U.S. House Speaker Mike Johnson (R-LA) as he meets with House Republicans on Capitol Hill in Washington, U.S., November 13, 2024. Brian Snyder | ReutersPresident-elect Donald Trump again called on fellow Republicans...
Trump says UK is making a very big mistake with North Sea windfall tax
The NKT Victoria cable laying ship operates off the coast of Marske by the Sea as it lays cable as part of the Sofia Offshore Wind Farm project on August 17, 2024 in Marske By The Sea, United Kingdom.Ian Forsyth | Getty Images News | Getty ImagesU.S. President-elect...
ETBFSI session to discuss financial sector expectations today, ET BFSI
Anticipation is building as Union Minister for Finance & Corporate Affairs Nirmala Sitharaman prepares to present the Union Budget 2025 on February 1. With inflation running high, growth projections slipping to as low as 5.4 per cent in Q2 of FY25, and...
Banking liquidity in deficit in December, RBI moves cap call rate, ET BFSI
The banking system liquidity slipped into deficit in December for the first time since June 2024 even as both tranches of the easing of cash reserve ratio (CRR) came into effect, infusing ₹1.16 lakh crore.Despite the deficit, the Reserve Bank of India has managed to...
RBI may reduce policy rates by 50 basis points in the first half of 2025: Jefferies, ET BFSI
New Delhi [India], January 3 (ANI): The Reserve Bank of India (RBI) is likely to cut policy rates by 50 basis points (bps) in the first half of 2025, says a report by Jefferies. This after the central bank eased its stance on liquidity and reduced the Cash Reserve...
How new RTGS, NEFT verification facility would help prevent cyber frauds, ET BFSI
The Reserve Bank of India (RBI) has introduced a new beneficiary bank account name look-up facility for the Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, aimed at enhancing the security and accuracy of digital transactions....
South Korean guards prevent arrest of impeached Yoon Suk Yeol after stand-off
Around 30 supporters of impeached President Yoon Suk Yeol stage a sit-in protest in front of his official residence to block his arrest by the police in Seoul, South Korea, on January 2, 2025. A Seoul court issues a detention warrant for Yoon over his failed attempt...
When does a Central Bank succeed most in volatile, uncertain environments?, ET BFSI
RBI Governor Sanjay MalhotraVUCA, or volatility, uncertainty, complexity, and ambiguity, has been a global concern, according to the governor of the Reserve Bank of India (RBI). Many nations are experiencing economic recession, which has harmed the global economy and...
Chinese hack of U.S. Treasury breached sanctions office, Washington Post says
A view from the United States Department of the Treasury building in Washington DC, United States on December 30, 2024. The US Treasury Department was cyberattacked by a Chinese state-sponsored actor in early December. Celal Gunes | Anadolu | Getty ImagesChinese...
How Is the RBI intervening in the forex market to shore up the rupee?, ET BFSI
In recent months, the RBI has actively engaged in the forex market, using a combination of forward market positions and dollar sales to manage the rupee’s value. But with external pressures and a sharp depreciation in the final quarter of 2024, the effectiveness of...
Healthy growth set to return this fiscal; rate cut likely sooner, ET BFSI
New Delhi, India will have to navigate geopolitical headwinds, tame domestic inflation and nudge the private sector to further loosen their purse strings as the world's fastest-growing major economy seeks more purple patches in 2025, leaving behind September quarter...
Nippon Steel offers U.S. government veto power in bid for U.S. Steel approval, source tells Reuters
A water tower at the U.S. Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, on Sept. 4, 2024.Justin Merriman | Bloomberg | Getty ImagesJapan's Nippon Steel has proposed giving the U.S. government veto power over any potential cuts to U.S. Steel's...
Trump says he will attend Jimmy Carter’s funeral
U.S. President-elect Donald Trump looks on during Turning Point USA's AmericaFest at the Phoenix Convention Center on December 22, 2024 in Phoenix, Arizona. Rebecca Noble | Getty ImagesPresident-elect Donald Trump said he would attend next week's state funeral for...
Economic revival or mirage? RBI Governor Malhotra makes growth predictions for first time, ET BFSI
India’s economic growth is poised for a revival in 2025, supported by strong consumer and business confidence, Reserve Bank of India (RBI) Governor Sanjay Malhotra stated in his first comments on the growth outlook since assuming office earlier this month.In the...
U.S. Treasury says its computers were hacked by a Chinese ‘threat actor’ in a ‘major incident’
The exterior of the U.S. Department of Treasury building is seen as they joined other government financial institutions to bail out Silicon Valley Bank's account holders after it collapsed on March 13, 2023 in Washington, DC.Chip Somodevilla | Getty ImagesThe U.S....
Stress may tell on lenders, pile on NPAs, erode buffers, ET BFSI
MUMBAI: The central bank’s Financial Stability Report projected that commercial banks could witness a rise in the share of bad loans and that their capital buffers may decline in extreme stress scenarios.It also voiced concerns over lingering microfinance and consumer...
Stress in microfinance sector doubles in April to September 2024: RBI, ET BFSI
Asset quality stress in the microfinance (MFI) sector has doubled in the April to September 2024 period, with loans due more than 31 to 180 days rising to 4.30% at the end of September 2024 versus 2.15% at the end of March 2024, the Financial Stability Report showed....
Madoff victim fund covers most of Ponzi scheme losses: DOJ
Financier Bernard Madoff leaves Manhattan Federal court March 10, 2009 in New York City. Madoff attended a hearing regarding the conflicting status of his legal representation in his multi-billion dollar fraud allegations.Chris Hondros | Getty ImagesThe 10th and final...
U.S. announces $5.9 billion in military and budget aid to Ukraine
President Joe Biden (R) shakes hands with Ukraine's President Volodymyr Zelensky (L) as they hold a bilateral meeting at the Intercontinental Hotel in Paris, on June 7, 2024. Biden announced $225 million in new aid for Ukraine during talks with Zelensky in Paris. Saul...
Trump loses appeal of E. Jean Carroll $5 million defamation verdict
Writer E. Jean Carroll arrives at the 2nd U.S. Circuit Court of Appeals, where former U.S. President Donald Trump will arrive to ask a federal appeals court to overturn a $5 million jury verdict finding him liable for sexually assaulting and defaming her, who accused...
Trump gives US House Speaker Johnson ‘complete and total endorsement’
U.S. Speaker of the House Mike Johnson shakes hands with U.S. President-elect Donald Trump onstage at a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC.Andrew Harnik | Getty ImagesU.S. President-elect...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Taking stockThe final two days of the trading year will help to determine just how strong 2024 is for stocks. U.S. futures traded lower Monday following a losing session for the...
Consumer, business confidence to remain high in 2025, investment scenario brighter: RBI Guv, ET BFSI
Reserve Bank of India (RBI) Governor, Sanjay Malhotra, in the foreword of the December 2024 edition of RBI’s Financial Stability Report said the prospects of the Indian economy are expected to improve following the recent slowdown in gross domestic product (GDP)...
‘I could have wiped Iran off the map’
Quotations by former President Jimmy CarterFormer President Jimmy Carter, March 25, 2014.Getty Images"My name is Jimmy Carter, and I'm running for president." — Opening his acceptance speech at the Democratic National Convention, July 15, 1976."I've looked on a lot of...
RBI Innovation Hub pilots digital unsecured loans for gig workers, ET BFSI
The Reserve Bank of India Innovation Hub (RBIH) has onboarded digital lender Vivifi Finance to run a pilot project to offer unsecured loans to gig workers, two people with the knowledge said.The pilot that was launched a fortnight ago is aimed at creating a digital...
Jimmy Carter dies at age 100
Former U.S. President Jimmy Carter holds up his Nobel Peace Prize Dec. 10, 2002, in Oslo, Norway. During his acceptance speech, Carter urged others to work for peace.Arne Knudsen | Getty Images News | Getty ImagesJimmy Carter, the Georgia peanut farmer who became a...
Boosted by domestic consumption, India’s economy to achieve up to 7.3% growth in FY2026: Deloitte, ET BFSI
Earlier this month, the Reserve Bank of India cut its growth forecast for the current fiscal to 6.6% from 7.2% projected in June.NEW DELHI: The Indian economy is likely to grow at 6.5-6.8% this fiscal and slightly higher between 6.7-7.3% in FY2026, boosted by domestic...
Easing liquidity, holding rates and why the move was right, ET BFSI
A rate cut of 50 bps is expected in February 2025 to spur the growth.The Reserve Bank of India (RBI) took a significant step on December 6, 2024, by reducing the Cash Reserve Ratio (CRR) from 4.5% to 4%. This move, after a series of ten consecutive status quo...
World leaders react to former U.S. President Jimmy Carter’s death
Then U.S. President Jimmy Carter speaking at a press conference on Sept. 1, 1977.Wally McNamee | Corbis Historical | Getty ImagesWorld leaders and U.S. politicians reacted to news that former U.S. President Jimmy Carter, who as president brokered peace between Israel...
US to send $1.25 billion in weapons to Ukraine before Biden leaves office
WASHINGTON (AP) — The United States is expected to announce that it will send $1.25 billion in military assistance to Ukraine, U.S. officials said Friday, as the Biden administration pushes to get as much aid to Kyiv as possible before leaving office on Jan. 20.The...
5 things to know before the stock market opens Friday
Here are the most important news items that investors need to start their trading day:1. Green ChristmasA Christmas tree stands in front of the New York Stock Exchange (NYSE), on the day U.S. President-elect Donald Trump is expected to ring the opening bell at NYSE to...
German president dissolves parliament for Feb. 23 snap elections
Members of the Bundestag debate before passing a resolution on Nov. 30, 2022 in Berlin, Germany. Sean Gallup | Getty Images News | Getty ImagesPresident Frank-Walter Steinmeier on Friday dissolved Germany's lower house of parliament to pave the way for snap elections...
RBI to banks, NBFCs, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will impose more regulatory curbs on unsecured lending if banks and finance companies do not mend their ways, it said in the Trends and Progress of Banking report published Thursday. The banking regulator also directed boards of...
India’s former PM Manmohan Singh dies aged 92
Indian Prime Minister Manmohan Singh makes a statement to the media after he was shouted down by opposition politicians in the lower house of Parliament, in New Delhi, India, Monday, Aug. 27, 2012. Singh took to Twitter on Monday to defend himself against a coal...
WT-ECIB scheme likely to benefit 1,000 new small exporters: Commerce ministry, ET BFSI
New Delhi, The ECGC is aiming to reduce the export credit gap through the WT-ECIB scheme, which is expected to benefit about 1,000 new small exporters, in addition to the existing 8,000-odd by facilitating the availability of adequate and affordable export finance...
RBI sets up 8-member committee to recommend framework for ethical AI in financial sector, ET BFSI
New Delhi [India], December 26 (ANI): Reserve Bank of India has set up an eight-member committee, comprising experts from diverse fields, to recommend a Framework for Responsible and Ethical Enablement of AI (FREE-AI) in the financial sector.The committee will submit...
Nirmala Sitharaman holds pre-budget meeting with trade experts, stakeholders, ET BFSI
India Budget: Union Finance Minister Nirmala Sitharaman chaired the fourth Pre-Budget Consultation meeting on Thursday with stakeholders and experts from the export, trade, and industry sectors in preparation for the Union Budget 2025-26.The Ministry of Finance, in a...
RBI spent $44.5 billion to defend rupee in October, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) combined intervention in forward and spot currency markets was worth $44.5 billion in October to support the rupee from weakening, the latest central bank data contained in its monthly bulletin showed.While spot sales amounted to $9.3...
RBI spent $44.5 billion to defend rupee in October, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) combined intervention in forward and spot currency markets was worth $44.5 billion in October to support the rupee from weakening, the latest central bank data contained in its monthly bulletin showed.While spot sales amounted to $9.3...
Govt aims to improve quality spending, cut fiscal deficit to 4.5 pc in FY26: Finmin report, ET BFSI
The government will continue its focus on improving quality spending, strengthening the social security net and bringing down the fiscal deficit to 4.5 per cent of the GDP in FY26, a finance ministry document said. Finance Minister Nirmala Sitharaman is scheduled to...
Why business leaders are spending big
Republican presidential nominee, former U.S. President Donald Trump arrives to speak during an election night event at the Palm Beach Convention Center on November 06, 2024 in West Palm Beach, Florida.Chip Somodevilla | Getty ImagesTop CEOs and their companies are...
Rising freebies, discom debt pushing states towards fiscal strain: RBI, ET BFSI
The Reserve Bank of India's (RBI) annual study of state finances flags increasing fiscal risks from rising subsidies and freebie announcements, coupled with mounting debt of state-run power distribution companies (discoms). These trends threaten fiscal consolidation...
Expected decline in food prices in January could increase odds of rate cut in Feb: ICICI Bank, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) could consider a rate cut in February if food inflation declines in January, according to a report by ICICI Bank.The report emphasized that a deceleration in food prices may strengthen the case for...
Ford donates $1 million and fleet of vehicles to Trump’s inauguration
Ford CEO Jim Farley poses for a photo before announcing at a press conference that Ford Motor Company will be partnering with the world's largest battery company, China-based Contemporary Amperex Technology, to create an electric vehicle battery plant in Marshall,...
Matt Gaetz sex, drug report released by House Ethics Committee
U.S. Representative Matt Gaetz (R-FL) listens to testimony during a U.S. House Judiciary Committee hearing entitled "Undue Influence: Operation Higher Court and Politicking at SCOTUS", looking into allegations that the former anti-abortion leader Rev. Robert Schenck...
RBI denies banks extra time to label dodgy borrowers as willful defaulters, ET BFSI
Mumbai: The Reserve Bank of India (RBI) has turned down banks' plea for more time to brand a dodgy borrower as 'wilful defaulter' - a client who diverts borrowed funds or refuses to repay loans despite having the wherewithal to do so.About a fortnight ago, the...
RBI rate cuts may be delayed on US Fed action, rupee pressure, ET BFSI
Reserve Bank of IndiaThe Reserve Bank of India (RBI) may delay its anticipated rate cuts, as pressure on the Indian rupee and rising foreign exchange (FX) intervention costs weigh on monetary policy decisions. Following recent moves by the US Federal Reserve, which...
Why Europe’s trade deal with South America is so controversial
Ursula von der Leyen, president of the European Commission, during a news conference at the Mercosur Leaders Summit in Montevideo, Uruguay, on Friday, Dec. 6, 2024.Bloomberg | Bloomberg | Getty ImagesThe European Union's blockbuster trade deal with South America's...
Trump says Putin wants a meeting as soon as possible about Ukraine war
U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.Brian Snyder | ReutersPresident-elect Donald Trump said Sunday Russian President Vladimir Putin has expressed his interest in a meeting regarding the war...
The fallout from the funding debacle
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersAs Congress regroups following another averted government shutdown, Democratic...
Weakened Iran could pursue nuclear weapon, White House’s Sullivan says
U.S. National Security Advisor, Jake Sullivan speaks during a press conference in Tel Aviv, Israel, 12 December 2024. Abir Sultan | Via ReutersThe Biden administration is concerned that a weakened Iran could decide to build a nuclear weapon, White House National...
Trump taps ex-Treasury official Miran as chair of Council of Economic Advisers
Stephen Miran, who was an adviser for economic policy at the U.S. Treasury Department when Donald Trump was last in office, has been tapped by the president-elect as the chair of his Council of Economic Advisers, Trump said on Sunday.The White House Council of...
Trump says he might demand Panama hand over canal
A cargo ship leaves the Panama Canal in Panama City on June 17, 2024.Martin Bernetti | APF | Getty ImagesPresident-elect Donald Trump on Saturday accused Panama of charging excessive rates for use of the Panama Canal and said that if Panama did not manage the canal in...
Senate review of Supreme Court ethics urges enforceable conduct code
A nearly two-year investigation by Democratic senators of Supreme Court ethics details more luxury travel by Justice Clarence Thomas and urges Congress to establish a way to enforce a new code of conduct.Any movement on the issue appears unlikely as Republicans...
Trump taps ‘Apprentice’ producer, Mark Burnett, as special envoy to the United Kingdom
Mark Burnett, the power producer who helped reintroduce Donald Trump to a national television audience with "The Apprentice," is being tapped by the president-elect as special envoy to the United Kingdom in his upcoming administration."With a distinguished career in...
Unregulated loan app operators in India may face 10 year jail, Rs 50 crore fines, ET BFSI
The central government has unveiled a draft bill aimed at tackling unregulated lending activities, with provisions that could impose penalties of up to Rs 50 crore and prison sentences of up to 10 years for violators. The proposed legislation, titled the Banning of...
Government shutdown averted after Senate passes House funding bill
WASHINGTON — The U.S. Senate approved a bipartisan federal spending bill early Saturday morning that averted a government shutdown and marked the end of a chaotic, high-stakes week in Congress. The bill authorizes continued funding of the federal government at...
RBI fined IndusInd Bk, & Manappuram Fin, BFSI News, ET BFSI
RBI fined IndusInd Bank and Manappuram Finance Rs 27 lakh and Rs 20 lakh, respectively. IndusInd Bank was penalised for non-compliance with norms related to 'interest rate on deposits'. Manappuram Finance was fined over KYC .agencies Published On Dec 21, 2024 at 09:07...
RBI may delay rate cut to April next year amid Fed’s hawkish stance, says Yes Bank report, ET BFSI
The Reserve Bank of India (RBI) may postpone the beginning of its rate cut cycle to April 2025 because of the Federal Reserve's shift towards a more hawkish monetary stance, said a report by Yes Bank."Given INR weakness and developing volatility in financial markets,...
RBI board reviews global, domestic economic situation, ET BFSI
Guwahati, The central board of the Reserve Bank of India (RBI) on Friday reviewed the global and domestic economic situation and outlook at a meeting chaired by new Governor Sanjay Malhotra. The 612th meeting of the Central Board of Directors of the RBI also placed on...
Centre proposes to curb unregulated lending with BULA Bill, BFSI News, ET BFSI
BULA Bill defines Unregulated Lending activities that cover practices including digital lending, that are not governed by existing financial regulations or laws.The Department of Financial Services on Thursday introduced the draft Banning of Unregulated Lending...
Trump-backed bill to avert government shutdown fails
WASHINGTON — A House Republican bill to fund the government for three months and suspend the debt ceiling for two years failed Thursday night, as dozens of rank-and-file Republicans voted against the deal endorsed by President-elect Donald Trump.Without a deal to fund...
Draft bill proposes prison terms, fines up to ₹1 crore for illegal lending via loan apps, ET BFSI
The government has also proposed an online database that would list regulated lenders and facilitate reporting of illegal lenders.NEW DELHI (Reuters) - The Indian government is seeking to clamp down on unregulated lending with a proposed law that would impose prison...
Trump transfers DJT shares to revocable trust: SEC filings
Aytac Unal/ | Anadolu | Getty ImagesPresident-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed Thursday evening.Trump did not receive any money for...
Trump says European Union must buy U.S. oil and gas in trade ultimatum
U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.Brian Snyder | ReutersU.S. President-elect Donald Trump on Friday said he told the European Union it must reduce its trade gap with the U.S. through oil...
RBI’s crypto stance in focus after bitcoin hits $1,00,000, ET BFSI
The Reserve Bank of India's (RBI) stance on cryptocurrencies will be keenly watched after the surge in bitcoin value with the election of Donald Trump as US President and arrival of a new governor at the central bank.The RBI under former governor Shaktikanta Das had...
Father, son plead guilty in $100 million New Jersey deli stock scheme
Peter Coker Sr. and his wife Susan Coker at U.S. District Court in Newark, New Jersey, March 15, 2023.Dan Mangan | CNBCA father and son pleaded guilty Thursday to orchestrating a brazen stock manipulation scheme involving a small New Jersey deli whose parent company...
Drone flights are temporarily banned over some areas of New Jersey
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe Federal Aviation Administration on Wednesday temporarily banned drone flights over 22 areas across New Jersey amid complaints of strange and often bright drones in the night...
Trump could spare Biden’s energy credits and still defeat IRA
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
House Republicans need Trump’s support to avoid government shutdown
U.S. Speaker of the House Mike Johnson (R-LA), and U.S. Senate Majority Leader Chuck Schumer (D-NY) listen during a Hanukkah reception at the U.S. Capitol Building on December 17, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesWASHINGTON — House Republican...
Luigi Mangione agrees to extradition in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, U.S. December 10, 2024. Eduardo Munoz | ReutersLuigi Mangione has...
Trump Georgia election case DA Fani Willis disqualified but indictment stands
Fulton County District Attorney Fani Willis looks on during a hearing in the case of the State of Georgia v. Donald John Trump at the Fulton County Courthouse on March 1, 2024, in Atlanta, Georgia.Alex Slitz-Pool | Getty Images News | Getty ImagesA Georgia appeals...
RBI flags rising subsidies by states as incipient stress, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Reserve Bank of India (RBI) on Thursday termed increasing spending by states on subsidies as an "incipient stress" and called for rationalisation of such outgoes.The central bank in a report 'State Finances: A Study of Budgets...
Indian states must set glide path for fiscal consolidation, says central bank report, ET BFSI
MUMBAI - Indian state governments must have clear and time-bound glide paths for fiscal consolidation with transparent and uniform reporting of liabilities, given the elevated debt levels, the Reserve Bank of India (RBI) said in a report on Thursday.States should also...
Fintechs seek RBI nod for credit line on UPI platform, BFSI News, ET BFSI
Non-banking finance companies (NBFCs) operating in the digital lending space have sought the Reserve Bank of India's permission to offer pre-approved credit on the United Payments Interface (UPI) platform, a product the central bank opened for small finance banks...
US Federal Reserve cuts key interest rates by 0.25%, BFSI News, ET BFSI
The US Federal Reserve has slashed interest rates by 0.25% on Wednesday, cutting the rates for the third time in a row, sidestepping concerns over inflation's downward path and the potential impact of Donald Trump's policy decisions.The Fed has lowered the federal...
Fed Chair Jerome Powell, ET BFSI
US Federal Reserve Chair Jerome Powell highlighted a cautious outlook after the central bank cut key interest rates by 0.25% to 4.25% to 4.5%. Inflation has eased but remains slightly elevated, he said, with projections of 2.4% for this year and 2.5% for 2025. Powell...
RBI may face tougher path in Feb rate cut as Fed reshaped global monetary policy expectations: Report, ET BFSI
The Reserve Bank of India (RBI) may face a tougher path for cutting interest rates in February, according to a report by Angel One's Ionic Wealth. The report attributed this to a shift in the U.S. Federal Reserve's stance on rate cuts, which has reshaped global...
UBS, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Federal Reserve's next steps on interest rates will be guided by economic data, according to a report by UBS. While the major global markets reacted negatively to the change in rate cut cycles by Fed for next year the report...
Trump joins Elon Musk in opposing House GOP’s government funding bill
President-elect Donald Trump on Wednesday came out against a Republican-backed government funding bill, siding with Elon Musk's crusade against the package and raising the odds of a government shutdown.Trump is opposed to the continuing resolution put forward by...
House Ethics Committee expected to release Matt Gaetz report
Rep. Matt Gaetz, R-Fla., talks with a staffer before the start of the House Armed Services Committee hearing on "An Update on Afghanistan in Washington on Wednesday, May 12, 2021.Caroline Brehman | CQ-Roll Call, Inc. | Getty ImagesThe House Ethics Committee secretly...
TikTok ban case to be heard by Supreme Court
The Supreme Court on Wednesday agreed to hear arguments by TikTok that a law that could lead to a ban of the popular social media app violates free speech protections in the U.S. Constitution.The Supreme Court scheduled oral arguments in the case for Jan. 10, nine...
M Rajeshwar Rao, Dy Governor RBI, ET BFSI
New Delhi [India], December 18 (ANI): M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), highlighted the importance of institutionalising data under the Insolvency and Bankruptcy Code (IBC) to provide valuable insights and precedents for handling...
How RBI maneuvered its policy in 2024, BFSI News, ET BFSI
At 6.5%, the benchmark interest rate today is exactly where it was when former Reserve Bank of India governor Shaktikanta Das took charge in late 2018, and the year 2024 has intensified the debate over whether the central bank should maintain this rate — a level it...
Warren says Trump needs to hold Elon Musk to ethics standards
U.S. President-elect Donald Trump walks with Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersSenator Elizabeth Warren has asked Donald...
RBI lifts restrictions on two Edelweiss Group cos, BFSI News, ET BFSI
Reserve Bank of India (RBI) has lifted the business restrictions on Edelweiss Group's NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies.“Having satisfied itself based on submissions...
RBI Deputy Governor, ET BFSI
The "buy now, pay later" (BNPL) schemes and the credit card spending facilitate immediate consumption and reduce the savings of the younger generations, said Michael Debabrata Patra, Deputy Governor, Reserve Bank of India.He also noted that these trends facilitate...
Luigi Mangione indicted in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, on Dec. 10, 2024.Eduardo Munoz | ReutersA New York grand jury...
How is the Union Budget prepared? Here are its key components and the process, ET BFSI
Finance Minister Nirmala Sitharaman is likely to present the annual budget 2025, her eighth consecutive Union Budget, on February 1.The annual budget details the planned expenditures and revenues for the fiscal year, which runs from April 1 to March 31. Expenditures...
Trump attorney alleges ‘grave juror misconduct’ in hush money trial
Former U.S. President Donald Trump, with attorney Todd Blanche, speaks to reporters as jurors are released to begin deliberations for his criminal trial at the Manhattan Criminal Court in New York, NY on Wednesday, May 29, 2024.Jabin Botsford | ReutersAttorneys for...
Enforcement Directorate recovers Rs 22,280 crore in assets from major economic offenders, including Vijay Mallya and Nirav Modi: Finance Minister, ET BFSI
On Tuesday, Finance Minister Nirmala Sitharaman informed the Lok Sabha about the Enforcement Directorate's (ED) substantial progress in recovering assets worth Rs 22,280 crore from various economic offenders. This amount includes over Rs 14,000 crore that was returned...
Biden’s DOJ antitrust head to step down, Reuters reports
US Assistant Attorney General Jonathan Kanter, with Attorney General Merrick Garland (L), speaks during a press conference announcing an antitrust lawsuit against Apple, at the Justice Department in Washington, DC, on March 21, 2024. Mandel Ngan | AFP | Getty...
Trump trade aide Peter Navarro denies tariff plans will spur inflation
Former director of the US Office of Trade and Manufacturing Policy Peter Navarro speaks on stage with his "Wife Bonnie" on the third day of the Republican National Convention at the Fiserv Forum on July 17, 2024 in Milwaukee, Wisconsin. Chip Somodevilla | Getty...
FTC bans hidden junk fees in hotel, event ticket prices
U.S. President Joe Biden delivers remarks on protecting consumers from hidden junk fees during an event at the South Court Auditorium at Eisenhower Executive Office Building on June 15, 2023 in Washington, DC.Alex Wong | Getty ImagesThe U.S. Federal Trade Commission...
Ukraine kills top Russian general in Moscow it accuses of chemical weapons crimes
Igor Kirillov, head of the Russian Defense Ministry's radiological, biological and chemical protection unit, speaks at a briefing over an alleged chemical attack on the Syrian city of Douma, at the Patriot park in the Moscow region on June 22, 2018. Afptv | Afp |...
Govt to push for green energy financing; MNRE minister to meet bank CEOs in January, ET BFSI
New Delhi: Union minister for new and renewable energy Pralhad Joshi on Tuesday said he would meet bank chairpersons and managing directors in January to discuss increasing financing for renewable energy projects. Industry stakeholders will also be part of the...
What are the key challenges before RBI in 2025?, ET BFSI
RBI Governor Sanjay MalhotraAs Sanjay Malhotra takes over as the 26th Governor of the Reserve Bank of India (RBI), the central bank faces a slew of critical tasks aimed at navigating an evolving economic landscape. From sustaining economic growth to enhancing...
Trump meets TikTok CEO, Supreme Court asked to block app ban
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024.Graeme Sloan | Bloomberg | Getty ImagesTikTok on Monday asked the Supreme Court to block a law that could effectively ban the...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Trump loses bid to toss New York hush money conviction
Former US President Donald Trump leaves the courthouse after a jury found him guilty of all 34 felony counts in his criminal trial at New York State Supreme Court in New York, New York, USA, 30 May 2024. Trump faced 34 felony counts of falsifying business records...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Government has taken many steps during the year to boost trade: Finance Ministry, ET BFSI
New Delhi [India], December 17 (ANI): A day after the commerce ministry released trade data for November showing the highest-ever trade deficit of USD 37.8 billion. The Ministry of Finance highlighted the various initiatives taken by the ministry this year to boost...
Trump picks China critic Glass as Japan envoy
American and Japan flags waving against the sky.Adventtr | Istock | Getty ImagesU.S. President-elect Donald Trump said on Monday he was picking George Glass, a former investment banker and diplomat notable for his criticisms of China, to serve as his ambassador to...
Canada finance minister quits after clash with Trudeau, deals blow to government
Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland, and Canada's Prime Minister Justin Trudeau speak at a news conference in Ottawa, Ontario, Canada, October 6, 2021.Patrick Doyle | ReutersCanada's Finance Minister Chrystia Freeland quit on...
Trump considers pardoning NYC Mayor Eric Adams
Mayor Eric Adams speaks to the press during the weekly briefing at the City Hall about the ongoing programs in New York City. Lev Radin | Lightrocket | Getty ImagesPresident-elect Donald Trump said Monday that he would "certainly look at" issuing a pardon for New York...
Trump transition team plans sweeping rollback of Biden EV, emissions policies
A Chevrolet Bolt EV sits parked at a charging station at Stewart Chevrolet on April 25, 2023 in Colma, California. Justin Sullivan | Getty Images News | Getty ImagesIncoming U.S. President Donald Trump's transition team is recommending sweeping changes to cut off...
German Chancellor Olaf Scholz loses confidence vote
German Chancellor Olaf Scholz will undergo a vote of confidence in Parliament on Monday, December 16.Michael Kappeler | Picture Alliance | Getty ImagesGerman Chancellor Olaf Scholz on Monday lost a confidence vote in the country's Bundestag, clearing the path for an...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Dull DecemberStocks enter the final full trading week of 2024 coming off a tough stretch. The Dow Jones Industrial Average has lost ground for seven straight sessions, and fell...
RPT-Domestic, global headwinds challenge Indian central bank’s fx intervention, ET BFSI
(Repeats story published on Dec. 13; no changes to text)By Nimesh Vora and Jaspreet KalraMUMBAI, - The Reserve Bank of India's efforts to slow the rupee's decline have been relentless but its already-stretched strategy is now challenged by weak economic growth, tepid...
Will RBI cut rates in February after inflation eases in November?, ET BFSI
India’s retail inflation eased to 5.5% year-on-year in November, down from 6.2% in October, bringing much-needed relief to policymakers. Food inflation also moderated from 10.9% to 9% during the same period. The decline in prices, particularly on a month-on-month...
DBT through Public Financial Management System supports Digital India: Finance Ministry, ET BFSI
DBT through Public Financial Management System supports Digital India: Finance MinistryNew Delhi [India], December 15 (ANI): The Department of Expenditure has been consistently improving direct benefit transfer (DBT) linkages between beneficiaries and onboarding with...
Rs 71,889 crore released to states under various heads for FY25 till now: Centre, ET BFSI
New Delhi, The government on Sunday said that based on the recommendations of 15th Finance Commission (XV-FC), Rs 71,889 crore has been released to the states under various heads for FY 2024-25.New Delhi, Dec 15 (IANS) The government on Sunday said that based on the...
South Korea’s acting president moves to calm markets after Yoon impeachment
A protester holding a cardboard reading "Leader of insurgents" on an image depicting the face of South Korea's President Yoon Suk Yeol takes part in a protest calling for his ouster outside the National Assembly in Seoul on December 8, 2024. Philip Fong | Afp | Getty...
ABC agrees to give $15 million to Donald Trump’s presidential library to settle defamation lawsuit
ABC News Anchor George StephanopoulosPaula Lobo | ABC | Getty ImagesABC News has agreed to pay $15 million toward Donald Trump's presidential library to settle a lawsuit over anchor George Stephanopoulos' inaccurate on-air assertion that the president-elect had been...
Many New Jersey drones sightings are ‘manned aircraft being misidentified as drones,’ FBI says
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe FBI and Department of Homeland Security said on Saturday that ongoing investigations around reported drone sightings over New Jersey have found "many of the reported drone...
Iran will not impede IAEA access, head of its atomic organization says
The flag of Iran is seen in front of the building of the International Atomic Energy Agency (IAEA) Headquarters on May 24, 2021 in Vienna, Austria.Michael Gruber | Getty Images News | Getty ImagesIran will not impede U.N. nuclear watchdog's access and inspection of...
Bank of America, Goldman to donate to Trump’s inaugural committee
A man walks by the Bank of America headquarters in New York on July 18, 2023.Eduardo Munoz | View Press | Getty ImagesBank of America, the second-largest U.S. lender, and investment bank Goldman Sachs plan to contribute to President-elect Donald Trump's inaugural...
South Korea’s President Yoon impeached after failed attempt to impose martial law
A screens shows footage of South Korean President Yoon Suk Yeol delivering an address to the nation at Seoul station on Dec. 7, 2024 in Seoul, South Korea.Chung Sung-jun | Getty Images News | Getty ImagesSouth Korea's President Yoon Suk Yeol was impeached on Saturday...
Nancy Pelosi hospitalized after injury in Luxembourg
Nancy Pelosi delivers remarks at the Anti-Corruption Champions Award Ceremony at the Department of State in Washington D.C, United States on December 9, 2024.Celal Gunes | Anadolu | Getty ImagesFormer House Speaker Nancy Pelosi was hospitalized after being injured...
Trump transition wants to scrap crash reporting requirement opposed by Tesla: Reuters
The remains of a Tesla vehicle are seen after it crashed in The Woodlands, Texas, April 17, 2021, in this still image from video obtained via social media. Video taken April 17, 2021. Scott J. Engle | Via ReutersThe Trump transition team wants the incoming...
If Ukraine fails against Russia, war will come to Europe: Dmytro Kuleba
Former Ukrainian Foreign Minister Dmytro Kuleba warned of the potential repercussions for the European Union if Ukraine does not prevail in its fight against Russia, telling CNBC that "if Ukraine fails, war will come to the streets of European cities.""Putin today has...
McKinsey & Co. to pay $650 million to settle opioid probe
The McKinsey & Company logo is displayed at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 21, 2023. Benoit Tessier | ReutersMcKinsey & Co. agreed to pay $650 million in a deferred prosecution agreement that will resolve a...
North Koreans charged in $88 million identity theft, extortion case
DPRK IT workers FBI wanted poster.Source: FBIThe Department of Justice accused 14 North Korean nationals of conspiring to use false identities to get IT jobs with U.S. companies and siphon money back to their home country, in violation of U.S. sanctions.The...
New Jersey drones are not national security threat, FBI says
Unidentified drone in New Jersey.Source: MSNBCThe FBI and Department of Homeland Security said Thursday that they had seen "no evidence" that mysterious drone sightings over New Jersey and adjacent areas in recent weeks "pose a national security or public safety...
SEC charges Cantor Fitzgerald, led by Trump’s Commerce pick
Howard Lutnick, chairman and CEO of BGC Partners Inc., speaks during the Piper Sandler Global Exchange and FinTech Conference in New York City, U.S., June 8, 2022. Brendan McDermid | ReutersWASHINGTON — The Securities and Exchange Commission on Thursday charged global...
Reserve Bank of India receives bomb threat, probe underway, BFSI News, ET BFSI
Mumbai (Maharashtra) [India], December 13 (ANI): The Reserve Bank of India (RBI) in Mumbai received a bomb threat email on Friday, police said. Police have registered a case against an unknown accused in connection with the bomb threat and started an investigation. "A...
Europe can make up the Ukraine funding shortfall if the U.S. withdraws, analysts say
The first General Dynamics F-16 Fighting Falcons received by Ukraine fly on the Day of Ukrainian Air Force on August 4, 2024 in Unspecified, Ukraine. At the event for the Day of Ukrainian Air Force with the participation of President of Ukraine Volodymyr Zelenskyi,...
RBI wary of fintech cos’ vehicle loan drive, ET BFSI
The MFI and fintech industry have been grappling with the issue of customers having more than four loans with a total outstanding of more than INR 2 lakh.The proliferation of fintech players in the light commercial vehicles and two-wheelers financing space has caught...
Top U.S. liquor distributor favored Costco, Kroger, other chains over small businesses: FTC
Cases of Beam Suntory Inc. Jim Beam brand bourbon sit stacked in the warehouse at Southern Glazer's Wine and Spirits LLC distribution center in Louisville, Kentucky, U.S., on Friday, Sept. 28, 2018. Luke Sharrett | Bloomberg | Getty ImagesThe Federal Trade Commission...
Watch full video of Donald Trump talking with Jim Cramer at the NYSE
After President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday morning, he spoke to CNBC's Jim Cramer from the trading floor about his plan for boosting the American economy.Trump refrained from making any stock market predictions,...
Meta donates $1 million to Trump’s inaugural fund: Reuters
Meta CEO Mark Zuckerberg makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024. Manuel Orbegozo | ReutersMeta Platforms has donated $1 million to President-elect Donald Trump's...
Trump rings bell at NYSE to cheers of ‘USA’ as Wall Street CEOs, business leaders look on
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after vowing an economic boom to a cheering crowd of traders and business leaders.Trump was flanked by Vice President-elect JD Vance, incoming first lady Melania Trump, NYSE...
FBI Director Christopher Wray to resign before Trump takes office
FBI Director Christopher Wray walks into a secure information area ahead of a closed-door security meeting on Capitol Hill in Washington on Sept. 25, 2024.Tom Brenner | The Washington Post | Getty ImagesFederal Bureau of Investigation Director Christopher Wray...
Rupee slips to record low pressured by NDF dollar bids, RBI likely steps in, ET BFSI
The rupee fell to 84.86 in early trading, eclipsing its previous record low of 84.8575 hit on Tuesday.The Indian rupee weakened to its all-time low on Wednesday, pressured by heightened dollar bids in the non-deliverable forwards market, while likely intervention by...
Luigi Mangione’s notebook mentioned killing of UnitedHealthcare CEO
A notebook found with Luigi Mangione contains a description of killing a CEO that matches details of his alleged murder of UnitedHealthcare's CEO in New York last week, NBC News reported Wednesday."What do you do?" a section of the notebook says."You wack the CEO at...
Real estate stars Oren, Tal Alexander and brother arrested after sex assault claims
Tal Alexander (L) and Oren Alexander (R).Getty ImagesTop real estate agents Tal and Oren Alexander and their brother, Alon, who have been accused of sexual assault in multiple lawsuits, were arrested in Miami on Wednesday.Federal prosecutors in New York, who announced...
Trump’s White House return is already pushing Europe and the UK closer together
British Chancellor of the Exchequer Rachel Reeves talks to the media at the EU Council headquarter on Dec. 9, 2024 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty ImagesBRUSSELS, Belgium ꟷ President-elect Donald Trump has not yet re-entered the...
RBI Governor Sanjay Malhotra, ET BFSI
Sanjay Malhotra takes charge as 26th RBI GovernorAddressing his first press conference after assuming the charge of Reserve Bank of India (RBI) Governor, Sanjay Malhotra said, It’s a huge responsibility, and all decisions will be taken with public interest in mind.“I...
‘Will do what’s best for economy,’ says newly appointed RBI Governor Sanjay Malhotra, ET BFSI
Newly appointed Reserve Bank governor Sanjay Malhotra on Tuesday said that he will work towards what is best for the economy when he takes charge at the central bank.Malhotra will take charge as the 26th RBI governor on Wednesday. "This is a completely new role and...
Trump vows ‘fully expedited’ permits for $1 billion investments in U.S.
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump vowed Tuesday that people or companies who invest...
Analysts, BFSI News, ET BFSI
Mumbai, The appointment of Sanjay Malhotra as the new RBI Governor "cements" the possibility of a rate cut at the next policy review in February, analysts said on Tuesday. Outgoing Governor Shaktikanta Das was "sticking to his guns" on rates as seen at the December 6...
Fed Chair Jerome Powell can serve remainder of term, Scott Bessent says
Federal Reserve Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on Nov. 7, 2024.Kent Nishimura | Getty ImagesFederal Reserve Chair Jerome Powell can finish his term leading the U.S. central bank...
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years, ET BFSI
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years (Image Source: RBI)The newly appointed Sanjay Malhotra takes charge as the 26th Governor of Reserve Bank of India for the next 3 years on Wedneday. His tenure is effective from December 11, 2024, a day...
Inflation major challenge globally, no country can tackle it in isolation: Nirmala Sitharaman, ET BFSI
New Delhi: Union Finance Minister Nirmala Sitharaman during the CII Global Economic Policy Forum, in New Delhi. (PTI Photo/Shahbaz Khan)(Finance Minister Nirmala Sitharaman while addressing the CII Global Economic Policy Forum said that inflation continues to be a...
Yellen discusses South Korean political crisis with country’s finance minister
Treasury Secretary Janet Yellen speaks at the Council on Foreign Relations in New York City, U.S., October 17, 2024. Andrew Kelly | ReutersU.S. Treasury Secretary Janet Yellen spoke to South Korean Finance Minister Choi Sang-mok on Tuesday and discussed South Korea's...
Luigi Mangione rages before UnitedHealthcare murder extradition hearing
Luigi Mangione is led into the Blair County Courthouse for an extradition hearing December 10, 2024 in Hollidaysburg, Pennsylvania. Jeff Swensen | Getty ImagesAn agitated Luigi Mangione yelled at reporters outside a Pennsylvania courthouse before a hearing on his...
Note by UnitedHealthcare murder suspect
Luigi Mangione seen in a McDonald's restaurant in Altoona, P.A. on Dec. 9th, 2024.Source: Altoona Police DepartmentLuigi Mangione had a handwritten note that said, "These parasites had it coming," when he was nabbed in Pennsylvania by police who recognized him as the...
Biden gives remarks on his economic legacy
[The stream is slated to start at 12:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to deliver remarks about his decisionmaking on the U.S. economy during his four years in office.The Democratic incumbent...
NY AG Letitia James refuses Trump’s demand to drop fraud case
Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. Shannon...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Brazil’s Lula rushed to Sao Paulo for brain surgery, stable in ICU
President of Brazil Luiz Inácio Lula da Silva speaks during an event to commemorate the International Amazon Rainforest Day at Salão Nobre of Planalto Government Palace on September 5, 2023 in Brasilia, Brazil.Andressa Anholete | Getty Images News | Getty...
Income tax relief in Budget 2025? Nirmala Sitharaman may announce a cut for this tax slab, ET BFSI
The upcoming Budget that will be presented by Finance Minister Nirmala Sitharaman in February 2025 is likely to provide relief to the low-income group in the budget with tax reduction expected in the Rs 3 lakh - Rs 7 lakh tax slab under the new regime, reported ETNow...
RBI’s ‘impossible trinity’ dilemma is waiting for incoming governor Sanjay Malhotra, ET BFSI
The Reserve Bank of India (RBI) is set for a change at the helm as Sanjay Malhotra prepares to step in as governor, succeeding Shaktikanta Das. Malhotra’s tenure begins amidst significant challenges, including navigating economic growth, inflation control, and...
RBI, Finance Ministry coordination at its best, says Shaktikanta Das, ET BFSI
Mumbai, The Reserve Bank of India and the Finance Ministry have been on "best terms with excellent coordination and cooperation" over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.He said, "The perspectives of the...
New RBI governor Sanjay Malhotra faces tough tasks of balancing growth, inflation, and rupee stability, ET BFSI
Ending weeks of speculation, the government has announced the appointment of Sanjay Malhotra as the Reserve Bank of India Governor, who arrives at a crucial time when the central bank is battling at several fronts.Malhotra succeeds Shaktikanta Das, who steered RBI and...
Dinesh Kumar Khara, ET BFSI
"A very fine gentleman and, of course, having an eye on detail and very sharp in his grasp. So, this is how I really look at Mr Malhotra and I am quite confident that he will continue to take the RBI to the higher pedestal in terms of the contribution put in by Mr...
UnitedHealthcare CEO killing person of interest
The suspect involved in killing of Brian Thompson, the CEO of UnitedHealthcare, in Midtown Manhattan on Dec. 4, 2024.Source: NYPDThe man considered a "strong person of interest" in the fatal shooting of UnitedHealthCare CEO Brian Thompson is a private-school...
Economists react to India’s new cenbank chief announcement, ET BFSI
NEW DELHI - India appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy, as growth slows and high inflation persists. With a new governor...
Luigi Mangione charged with murder of UnitedHealthcare CEO Brian Thompson
Booking photo of Luigi Mangione.Pennsylvania Department of CorrectionsNew York prosecutors on Monday charged Ivy League grad Luigi Mangione with the murder of UnitedHealthcare CEO Brian Thompson, court records show.The charge came hours after Mangione, 26, was...
Shaktikanta Das remembers Late Arun Jaitley; extends gratitude to PM, FM, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das As the term of Shaktikanta Das as Reserve Bank of India (RBI) Governor comes to an end on Tuesday, he extends his gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. Das also...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Lithium pivotal to Europe’s massive trade deal with South America
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022.Martin Bernetti | Afp | Getty ImagesThe strategic importance of lithium is likely to...
Six major policy decisions in six years, BFSI News, ET BFSI
Whether it's the “horse requiring a tight leash” or addressing the “elephant in the room,” Shaktikanta Das has often relied on vivid metaphors to describe interest rate policies. Das, 67, the outgoing governor of the Reserve Bank of India will demit office on December...
U.S. creators could lose over $1 billion in first month, company says
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024. Graeme Sloan | Bloomberg | Getty ImagesTikTok in a court filing Monday warned that U.S. small businesses and social media creators...
Man questioned in Pennsylvania in UnitedHealthcare CEO slaying
Police in Pennsylvania are questioning a man on Monday in connection with the fatal shooting of UnitedHealthcare CEO Brian Thompson, NBC News reported.The man was found with a gun that is similar to the one used to kill the 50-year-old Thompson by a masked gunman last...
Who is Sanjay Malhotra? RBI’s new Governor replacing Shaktikanta Das, ET BFSI
Revenue Secretary Sanjay Malhotra has been appointed as the Reserve Bank of India (RBI) Governor on Monday. Currently, the 56-year-old, Malhotra is serving as the Revenue Secretary under Government of India, and is a 1990-batch IAS officer of the Rajasthan cadre. He...
Shaktikanta Das’s tenure concludes as second-longest-serving RBI Governor: A timeline, ET BFSI
Outgoing Governor of the Reserve Bank of India, Shaktikanta Das After serving for six years with an illustrious career, the Reserve Bank of India (RBI) Governor Shaktikanta Das hanged his boots. The 25th Governor of RBI is the second-longest-serving RBI governor after...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Dow dragsMajor U.S. stock indexes enjoyed another strong stretch last week – except for the Dow Jones Industrial Average. The S&P 500 and Nasdaq Composite both had their third...
Sanjay Malhotra appointed as 26th RBI Governor, ET BFSI
Revenue Secretary Sanjay Malhotra will be the next RBI Governor for a period of three years, a notification issued by the DPoT said on Monday.Sanjay Malhotra will take over from current RBI Governor Shaktikanta Das on December 11.Sanjay Malhotra is an IIT-Kanpur...
South Korea President Yoon banned from foreign travel as leadership crisis deepens
People gather outside the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Soo-hyeon Kim | ReutersSouth Korean President Yoon Suk Yeol has been banned from leaving the country over a failed...
Economists see RBI rate cut in February; muted growth due to low investments, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das in his latest MPC announcement on Friday decided to keep the repo rate unchanged at 6.5 percent for the 11th consecutive time, despite high inflation and a slowdown in economic growth. Economists shared with ETCFO...
Biden says U.S. will support Syria and its neighbors after Assad dynasty collapses
U.S. President Joe Biden delivers remarks from the Rose Garden of the White House in Washington, U.S., November 26, 2024. Nathan Howard | ReutersPresident Joe Biden cheered the toppling of Syria's dictatorship in remarks on Sunday, but he warned about the uncertainty...
Russian state news agencies say ousted Syrian leader Bashar Assad is in Moscow and given asylum
Russia's President Vladimir Putin (R) shakes hands with his Syrian counterpart Bashar al-Assad during a meeting in Sochi on November 20, 2017.Ousted Syrian President Bashar Assad fled to Moscow on Sunday, Russian media reported, hours after a stunning rebel advance...
India leads with 27 tonnes in October, ET BFSI
The October gold purchase by the Central banks across the globe doubled that of the 12-month average with the Reserve Bank of India (RBI) leading both y-t-d purchases and those reported during the month, according to a report released by the World Gold Council.India...
Trump is stacking his White House roster with uber-rich backers
U.S. President-elect Donald Trump greets Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersDonald Trump's first administration was chock...
U.S. unveils $988 million aid package for Ukraine including rockets and drones
U.S. Defense Secretary Lloyd Austin testifies before a U.S. House Appropriations Defense Subcommittee hearing on President Biden's proposed budget request for the Department of Defense, on Capitol Hill in Washington, March 23, 2023.Michael A. McCoy | ReutersThe United...
South Korea martial law fallout deepens as prosecutors close in on president, ex-defense minister
People march in heavy rain to protest against South Korean president Yoon Suk Yeol, as strike and protests continue amid the martial law crisis, in Seoul, South Korea, on December 05, 2024. Daniel Ceng | Anadolu | Getty ImagesSouth Korea's leadership crisis deepened...
Assad regime on brink of collapse in Syria as rebel forces claim Damascus
TOPSHOT - Fighters fire towards Syrian Army troops in the Rashidin district on the outskirts of Aleppo on Nov. 29, 2024.Bakr Alkasem | Afp | Getty ImagesThe more than 50-year Assad dynastic dictatorship was on the cusp of collapse on Sunday, as rebel forces seized the...
Trump is welcomed by Macron to Paris with presidential pomp and joined by Zelenskyy in their meeting
French President welcomed Donald Trump to Paris on Saturday with a full a dose of presidential pomp and they held an impromptu meeting with Ukraine's Volodymyr Zelenskyy on a day that mixed pageantry with attention to pressing global problems.Trump, the once and...
South Korea’s President Yoon survives impeachment motion after ruling party boycotts vote
SEOUL, SOUTH KOREA - NOVEMBER 07: South Korean President Yoon Suk-yeol attends a press conference on state affairs at the presidential office on Nov. 7, 2024.Pool | Getty Images News | Getty ImagesBeleaguered South Korean President Yoon Suk Yeol on Saturday survived...
RBI cash reserve ratio cut expected to support banks’ NIMs: Report, ET BFSI
NEW DELHI: The RBI's reduction in Cash Reserve Ratio (CRR) is expected to offer modest support to banks' Net Interest Margins (NIMs), according to a report by Axis Securities. The assessment mentioned that the decision will enhance liquidity while supporting broader...
Trump returns to world stage at Notre-Dame reopening in Paris
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
SBI forecasts India’s GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25, ET BFSI
SBI forecasts India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25New Delhi [India], December 7 (ANI): SBI forecasted India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25 in its latest report.The average growth of the...
Inflation likely to ease to 5.4 per cent in November on decline in vegetable prices: Union Bank, ET BFSI
New Delhi [India], December 7 (ANI): India's Consumer Price Index (CPI) inflation is expected to ease to 5.4 per cent in November 2024, down from 6.2 per cent in October, according to a report by Union Bank of India.The decline is primarily attributed to a seasonal...
Syrian rebels seize fourth city, close in on Homs in threat to Assad’s rule
HOMS, SYRIA - DECEMBER 06: Anti-regime armed groups advancing in Syria's strategically important province of Homs, the gateway to the capital Damascus, on Dec. 06, 2024. Anadolu | Anadolu | Getty ImagesSyrian rebels said they seized control of the southern city of...
Police believe suspect left New York
Closed circuit screenshots of a person of interest in the UnitedHealthcare CEO killing.Source: NYPDPolice believe the person of interest being sought in connection to the killing of UnitedHealthcare CEO Brian Thompson left New York City shortly after the slaying...
RBI’s CRR cut may provide 3-4 bps relief to banks on margins front ; liquidity challenges remain, ET BFSI
The reduction in the Cash Reserve Ratio (CRR) by 50 basis points may not impact rates but provide relief on banks on squeezed margins.The Reserve Bank of India (RBI) announced a reduction in the Cash Reserve Ratio (CRR) by 50 basis points in two tranches of 25 bps...
UnitedHealthcare CEO killing leads health insurers to pull photos
Igor Golovnov | Sopa Images | Lightrocket | Getty ImagesThe killing of UnitedHealthcare CEO Brian Thompson led Centene, another big health insurer, to switch to a virtual investor day instead of a planned in-person event in New York.Thompson's slaying also has...
Trump may cancel U.S. Postal Service electric mail truck contract: Reuters
The United States Postal Service unveils two of its battery-powered vehicles at an event announcing its plan on implementing electric vehicles, at the Postal Service Headquarters on December 20, 2022 in Washington, DC. Kevin Dietsch | Getty ImagesDonald Trump's...
Court upholds law ordering ByteDance to divest app
A federal appeals court on Friday cited national security concerns as it upheld a law requiring China-based ByteDance to sell the popular social media app TikTok next month or face an effective ban in the United States.The unanimous ruling by a three-judge panel of...
DOGE’s Musk, Ramaswamy try to sell Congress on huge spending cuts
WASHINGTON, D.C. — Entrepreneurs Elon Musk and Vivek Ramaswamy's have an ambitious agenda to cut federal spending with the help of their outside advisory council, the Department of Government Efficiency (DOGE).But on their first joint visit to Congress on Thursday,...
RBI reduces Cash Reserve Ratio to 4%, Repo rate unchanged at 6.5%, ET BFSI
RBI Reduce CRR: Reserve Bank of India (RBI) Governor Shaktikanta Das announced the decisions of the last Monetary Policy Committee (MPC) for 2024 on Friday. The MPC members with a majority of 4:2 decided to keep the repo rate unchanged and keep the ‘Neutral’ stance....
India cenbank holds rates steady, market awaits liquidity steps, ET BFSI
MUMBAI, - The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday, citing still-high inflation and disappointing some investors who had bet on a cut after a sharp slowdown in economic growth in the July-September quarter.The Monetary Policy...
RBI’s MPC announces launch of podcasts as new communication channel, ET BFSI
The Reserve Bank of India's Monetary Policy Committee on Friday announced that it will be adding another medium of communication of through podcasts. The announcement was made by Governor Shaktikanta Das on Friday in what is his last speech of this term.The decision...
RBI sees inflation moderating to 4% by Q2 of next fiscal, ET BFSI
The Reserve Bank of India has projected inflation within its tolerance band of 4-6 per cent for this fiscal and the next second half on easing of food prices but has warned of geopolitical uncertainties and financial market volatilities as upside risks."CPI inflation...
Romanian top court annuls presidential election result
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesRomania's top court annulled the result of the first round of the country's presidential election...
RBI sharply cuts FY25 GDP growth projections to 6.6% after Q2 shocker, ET BFSI
The RBI has lowered its real GDP growth projection for 2024-25 to 6.6% from the earlier estimate of 7.2%. This sharp revision follows a subdued second-quarter GDP growth of 5.4%, compared to the RBI’s earlier estimate of 7%."Real GDP growth for 2024-25 is projected at...
RBI Governor Das on demand weakness, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday allayed concerns on muted consumer demand saying private consumption is expected to improve with good crop prospects.“Looking ahead, robust kharif foodgrain production and good rabi prospects, coupled with...
RBI asks banks to collaborate with MuleHunter.AI intiative, ET BFSI
Mumbai, The RBI on Friday asked banks to collaborate with its initiative MuleHunter.AI to weed out mule accounts which are used to commit financial fraud. A mule account is a bank account used by criminals to launder illicit funds, often set up by unsuspecting...
New interest rate benchmark SORR to replace Mibor, BFSI News, ET BFSI
The Reserve Bank of India has decided to float a new interest rate benchmark -- the Secured Overnight Rupee Rate (SORR) -- in line with the increasing importance of the collateralised money markets.The move is expected to improve the credibility of the interest rate...
De-dollarisation not on agenda, only agreements for Vostro accounts with countries for trade in local currency: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], December 6 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that India has not taken any specific steps to move away from dollars, in what is often called de-dollarisation. Responding to questions during the...
Liquidity & Macroeconomic pressures keeps RBI cautious: Economists, ET BFSI
~Samriddhi Singh MaharWith the announcement by RBI Governor Shaktkanta Das, that the repo rate will remain unchanged for the 11th consecutive time, economists see the decision to maintain the policy rate at 6.5% while implementing a 50-bps CRR cut as RBI prioritising...
RBI raises FY25 inflation estimate to 4.8 pc; food price pressures to keep CPI elevated in Q3, ET BFSI
Mumbai, The Reserve Bank on Friday raised the inflation projection for current fiscal year to 4.8 per cent from 4.5 per cent with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter....
McKinsey unit settles claims it bribed South African officials
This photograph shows a logo of American multinational corporation McKinsey & Company on the first day of the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. Pau Barrena | Afp | Getty ImagesA...
RBI says financial parameters for banks and NBFCs continue to be strong, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das said Friday the financial parameters for banks and non-banking financial companies (NBFCs) continue to be strong amid narrowing credit deposit gaps and proactive regulatory oversight."The incoming data suggests...
Top 10 announcements from MPC Meet Dec 2024, ET BFSI
The Reserve Bank of India (RBI) on Friday, in a 4-2 majority vote, decided to keep the repo rate unchanged at 6.5 per cent, marking the 11th consecutive pause in its rate-setting cycle. RBI Governor Shaktikanta Das stated that the policy stance remains neutral,...
IRS crackdown on wealthy Americans faces roadblocks
WASHINGTON — Tens of thousands of wealthy Americans are not complying with recently revamped Internal Revenue Service efforts to get them to file tax returns, according to data obtained exclusively by CNBC.A quirk in federal tax law may be incentivizing wealthy people...
Is RBI boss getting extension for another term? Governor Shaktikanta Das says…, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das remained tight-lipped on whether his term as the head of the central bank would be extended, during the Monetary Policy Committee (MPC) press conference on Friday. "I am not giving you any headlines," Das said when...
CEOs seek protection after UnitedHealthcare executive shooting: Kroll
Chief executives and other high-level corporate officers are seeking additional security protection after the brazen slaying of UnitedHealthcare's chief executive officer in New York, according to a top risk management firm."We had CEOs and other executive level and...
Inflation prompts India cenbank to raise agri loan limit, ET BFSI
MUMBAI, - India's central bank said on Friday it will raise the limit for collateral-free agriculture loans to 200,000 rupees ($2,364.15) in a bid to enhance access to formal credit for small and marginal farmers in the country.Banks were required to extend...
RBI move to make foreign currency deposits more attractive for non-residents, ET BFSI
Mumbai: Reserve Bank of India (RBI) has announced an increase in the interest rate ceilings on Foreign Currency Non-Resident Bank [FCNR(B)] deposits in an effort to attract more foreign investment. This move comes at a time when the Indian rupee has been under...
Trump picks former Senator David Perdue to be ambassador to China
Former Republican U.S. Senator David Perdue, who is primarying incumbent Brian Kemp for Georgia governor, speaks at a campaign event in Covington, Georgia, February 2, 2022.Elijah Nouvelage | ReutersU.S. President-elect Donald Trump said on Thursday he has chosen...
UnitedHealthcare shooting shell casing clues
Book title: "Delay Deny Defend: Why Insurance Companies Don't Pay Claims and What You Can Do About It" by Jay M. FeinmanSource: Amazon Inc.Shell casings from the brazen slaying of UnitedHealthcare CEO Brian Thompson in midtown Manhattan had the words "deny," "defend"...
NYPD photos show face of person sought
Closed caption screenshots of of person wanted for questioning in the United Healthcare CEO killing.Source: NYPDNew York police on Thursday released photos of a person wanted for questioning in the fatal shooting of UnitedHealthcare CEO Brian Thompson.The two photos...
RBI may go for CRR cut instead of repo rate reduction in monetary policy: Expert, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): With the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting underway, experts have suggested that the central bank might go for a reduction in Cash Reserve Ratio (CRR) for banks instead of cutting the...
Rupee little changed as cenbank rate decision, growth commentary looms, ET BFSI
The Indian rupee ended little changed following a rangebound trading session on Thursday, with market players speculating whether the country's central bank will initiate an interest rate easing cycle on Friday to stimulate economic growth.The rupee, ended at 84.7325...
Trump picks Adam Boehler to be presidential envoy for hostage affairs
Adam Boehler, the CEO of the U.S. International Development Finance Corporation, addresses the daily coronavirus task force briefing in the Rose Garden at the White House in Washington, U.S., April 14, 2020. Leah Millis | ReutersPresident-elect Donald Trump announced...
Das & Co likely to hold rates and lower GDP growth outlook, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am.The three-day meeting, which began on December 4, is being closely watched. For the first time in more than 30 months, MPC...
Piyush Goyal asks MSMEs to share issues related to accessing bank credit, ET BFSI
Union Minister of Commerce and Industry Piyush Goyal Addressing the financing challenges faced by the micro, small, and medium enterprises (MSME), Union Minister for Commerce and Industry, Piyush Goyal said the government is open to the idea of alternate financing...
RBI, BFSI News, ET BFSI
Mumbai: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
RBI, BFSI News, ET BFSI
Mumbai: Climate risks have started to impact the financial system and could pose systemic problems in future, according to RBI. Besides damage to assets, risks include business disruption, increase in loan losses, and transition risks arising from the shift to a...
Indian markets make substantial gains from day’s low in anticipation of rate cut by RBI: Experts, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The Indian stock indices revived during the day on Thursday after a slow start at the opening, as investors anticipate a rate cut in the ongoing MPC meeting says market experts.The Nifty 50 index surged 165 points or...
RBI may explore other liquidity tools like open market operations (OMOs) and foreign exchange (FX) swaps instead of rate cut: Report, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may keep the current policy rates unchanged in the ongoing Monetary Policy Committee (MPC) meeting, according to a report by the Union Bank of India. As per the report, RBI is unlikely to announce a cash reserve ratio (CRR)...
Notable decline in forex reserve because RBI using forex to manage currency volatility: UBI Report, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The recent decline in India's forex reserve from USD 705 billion to USD 656.58 billion is because the central bank is using forex reserve to manage currency volatility says a report by Union Bank of India.The report says...
Trump asks Georgia court to end election interference case
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump asked the Georgia Court of Appeals on...
When and where to watch Guv Shaktikanta Das’ live address, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am. The three-day meeting, which began on December 4, is being closely watched as the central bank navigates through...
Some ATMs to retract cash, BFSI News, ET BFSI
MUMBAI: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
South Korea’s Yoon names new defense minister after botched martial law
Defense Minister Kim Yong-hyun resigns.Anadolu | Anadolu | Getty ImagesSouth Korean President Yoon Suk Yeol has accepted the resignation of Defense Minister Kim Yong-hyun and nominated his ambassador to Saudi Arabia, Choi Byung-hyuk, as new defense minister, Yonhap...
French government toppled in no-confidence vote brought by opposition
France's Prime Minister Michel Barnier (C) looks on during a session of questions to the government at The National Assembly in Paris, on December 3, 2024. Julien De Rosa | Afp | Getty ImagesThe French government has been toppled in a vote of no confidence Wednesday,...
Trump picks Peter Navarro as top trade advisor
Peter Navarro, former Director of the U.S. Office of Trade & Manufacturing, gestures as he speaks on Day 3 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 17, 2024. Mike Segar | ReutersPresident-elect Donald...
RBI’s top moves in balancing innovation and regulation, ET BFSI
The Reserve Bank of India (RBI) marked its 90th year on April 1, 2024, also its another year of heightened regulatory activity. From tightening actions on Paytm and Kotak Mahindra Bank to introducing the SRO framework in May, announcing Unified Lending Interface (ULI)...
Will RBI blink on rates after govt’s rate-cut call and GDP miss?, ET BFSI
The tenure of Shaktikanta Das as the governor of the Reserve Bank of India (RBI) is nearing its end next week, with speculation rising over whether he will receive an extension. His future has become a point of focus, particularly following India's underwhelming GDP...
MoS Finance, BFSI News, ET BFSI
New Delhi, The government is not considering merger of public sector banks, Minister of State for Finance Pankaj Chaudhary said on Tuesday. In a written reply to a question in the Rajya Sabha, he said several steps have been taken by the government to strengthen the...
Banks should adopt ‘bottom-up’ approach for preparing credit plan: RBI’s Swaminathan, ET BFSI
Mumbai, Banks should adopt a "bottom-up" approach for preparing credit plans to fulfil fund requirements for different segments in districts, RBI Deputy Governor Swaminathan J has said. Addressing a conference for lead district managers of Maharashtra last week, the...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
RBI Governor, Shaktikanta DasOne of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over...
Central bank behind the curve?, BFSI News, ET BFSI
Dec 3 - By Ira Dugal, Editor Financial News, with global staff.Greetings from Mumbai!This week on the India File, we focus on the unexpectedly weak economic growth reported for the July-September quarter. Does part of the blame lie at the central bank's door?The...
Mike Bloomberg warns RFK Jr. atop HHS risks killing Americans
Former New York City mayor Michael Bloomberg, a democratic presidential candidate, attends the U.S Conference of Mayors 88th Winter Meeting in Washington, D.C, January 22, 2020.Yasin Ozturk | Anadolu Agency | Getty ImagesBillionaire and public health advocate Mike...
Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy, ET BFSI
Mumbai, Reserve Bank's high level panel on Wednesday started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation is above the upper tolerance level of the central bank. The decision taken at the RBI...
Trump agrees to DOJ background checks for nominees
President-elect Donald Trump's transition team said Tuesday that it reached an agreement with the Department of Justice that sets the stage for the department to conduct background checks and start the security clearance process for Trump administration nominees and...
All eyes on central bank’s action on rising inflation, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting to determine the policy rate in the country commenced today in Mumbai.Chaired by RBI Governor Shaktikanta Das, the three-day meeting will run from December 4 to December 6, with the Governor...
SBI writes to RBI to consider non-financial transactions as well for tagging an account as operative, ET BFSI
Faced with the challenge of ensuring an account remains operative, the State Bank of India (SBI) has written to the Reserve Bank, requesting change in rules, and consider non-financial transactions like balance checking as well for tagging an account as operative. C S...
Contentious budget plans are wreaking political havoc across Europe
France's Prime Minister Michel Barnier ponders during a session of questions to the government at the National Assembly in Paris, on December 3, 2024.Julien De Rosa | Afp | Getty ImagesThe French government once again stands on the brink of collapse, after Prime...
On the horns of a dilemma, BFSI News, ET BFSI
In the last few years, RBI has largely been following a data-driven and evidence-based approach in its pursuit of a contextually relevant Policy, a Policy stemming from the concerns at the time of formulation and an attempt to arrive at judicious Policy prescriptions....
$200 million Ponzi scheme nets Florida woman 20-year prison sentence
Screenshot of Johanna Michely Garcia of MJ Capital Funding, who was sentenced on Dec. 3, 2024, to 20 years in prison in a Ponzi scheme.Source: MJ CapitalA Florida woman who pleaded guilty in a Ponzi scheme that raked in nearly $200 million was sentenced Tuesday to 20...
Indian central bank likely conducting dollar-rupee buy/sell swaps, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely conducting dollar-rupee buy/sell swaps in the mid-to-far tenors on Wednesday as part of its steps to support the local currency, which had declined to its lifetime low in the previous session, four traders told Reuters.The...
South Korean parliament votes to lift president’s martial law declaration
Members of the military make their way through the crowd in front of the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Kim Hong-ji | ReutersThe South Korean National Assembly voted to...
Shots fired near Treasury Secretary Janet Yellen home
Treasury Secretary Janet Yellen delivers remarks on the Inflation Reduction Act after visiting the site of a new paperless processing initiative in McLean, Virginia, on August 2, 2023. Stefani Reynolds | Afp | Getty ImagesMultiple shots were fired early Tuesday...
South Korean president declares emergency martial law
South Korea's President Yoon Suk Yeol speaks during a ceremony held to mark the 74th anniversary of the start of the 1950-1953 Korean War, in Daegu on June 25, 2024.Ahn Young-joon | Afp | Getty ImagesSouth Korean President Yoon Suk Yeol declared an "emergency martial...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. New highsA specialist trader works at his post on the floor at the New York Stock Exchange (NYSE) in New York City.Brendan McDermid | ReutersThe first trading day of December...
Rupee may fall to 85 against dollar leading to RBI intervention: Naveen Mathur, ET BFSI
Naveen Mathur, Director - Commodities, Currencies and International Business, Anand Rathi Wealth, says the overall perception is that the rupee might continue to 85 levels or so where the RBI might start intervention. They might be intervening because we have seen...
What’s the BRICS’ financial architecture plan that Donald Trump is wary about, ET BFSI
US President-elect Donald Trump has warned of imposing 100% tariffs on a group of nine nations if they pursue the creation of a currency to rival the US dollar sparking a new debate.As the global economic order evolves, the BRICS bloc—comprising Brazil, Russia, India,...
France to hold no-confidence vote in government on Wednesday
French Prime Minister Michel Barnier (C) ahead of his general policy statement to the French National Assembly in Paris on October 1, 2024. Barnier, a right-wing former EU Brexit negotiator, was appointed three weeks ago by French President to bring some stability...
Rupee forward premiums plunge on Indian cenbank’s buy/sell swaps, traders say, ET BFSI
By Nimesh VoraMUMBAI, - The dollar/rupee forward premiums dropped on Tuesday, extending their losses, as the Indian central bank conducted buy/sell swaps alongside spot interventions to prevent the local currency from sliding more than it already has, four traders...
RBI advises banks to organize special campaigns like Aadhaar updation for facilitating activation of frozen accounts, ET BFSI
Mumbai (Maharashtra) [India], December 3 (ANI): The Reserve Bank of India (RBI) has directed banks to take immediate steps to reduce the number of inoperative or frozen accounts and to make the activation process smoother and more hassle-free. To achieve this, the RBI...
RBI cancels registration of Nagpur-based Zavron Finance, ET BFSI
The RBI on Monday said it has cancelled the certificate of registration of Nagpur-based Zavron Finance due to irregular lending practices. Zavron Finance has violated RBI guidelines on code of conduct in outsourcing of financial services in its digital lending...
Trump Defense pick Pete Hegseth report details alcohol abuse
President-elect Donald Trump's nominee to be Secretary of Defense Pete Hegseth leaves the Russell Senate Office Building on November 21, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesPete Hegseth, the already embattled choice of President-elect Donald Trump to...
No extension for Shaktikanta Das? Speculation over RBI chief’s future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
California Gov. Newsom starts special session, ‘safeguard’ from Trump
Governor Newsom speaks as he signed into law the most significant bipartisan legislation to crack down on property crime at a Home Depot store in San Jose, California, United States on August 16, 2024. Tayfun Coskun | Anadolu | Getty ImagesGov. Gavin Newsom's special...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
Ireland election sees pro-business continuity despite voter discontent
Ballot papers are counted at the Dublin RDS centre, in Dublin, on December 1, 2024, on the second day of counting ballots in the Irish General Election. Ben Stansall | Afp | Getty ImagesIreland's election looks set to have secured victory for the incumbent...
WDRA to approach RBI again for getting preferential treatment eNWRs: Par report, ET BFSI
New Delhi, Warehousing regulator WDRA will pursue with the RBI again for getting preferential treatment to Electronic Negotiable Warehouse Receipt (eNWR), according to a Parliamentary report tabled on Monday. eNWR is a digital warehousing receipt issued by registered...
RBI lifts its supervisory restrictions on Sachin Bansal-led Navi Finserv Limited, ET BFSI
Reserve Bank of India on Monday announced decision to remove its supervisory restrictions on Navi Finserv Limited following several rounds of interaction with the company for rectification of deficiencies."RBI had several rounds of interaction with the company for...
Exchanges warn Religare for not disclosing RBI rejection on Asthana’s appointment, ET BFSI
Mumbai: India’s two major stock exchanges issued warning letters to Religare Enterprises (REL) concerning delayed disclosures regarding the central bank’s rejection of Rakesh Asthana’s appointment as an Additional Director on the company’s board. The Bombay Stock...
Indian cenbank’s ballooning NDF position suggests more rupee losses, bankers say, ET BFSI
By Nimesh VoraMUMBAI, - The surge in the Indian central bank's position in the non-deliverable forward market (NDF) reflects the extent of pressure on the rupee and suggests that the currency, already at a lifetime low, will fall further, bankers said on Monday.The...
RBI unlikely to cut rates in December, may lower CRR by 50 bps in two instalments & talk dovish: B Prasanna, ET BFSI
B Prasanna, Group Head - Global Markets, Trading and Research, ICICI Bank, says GDP was a shocker, but he thinks it has bottomed out and is going to improve in the second half. But even after the improvement, ICICI Bank is penciling in a second half GDP of around 6.5%...
No rate cut in current fiscal, first one likely in April’25, says SBI Report, ET BFSI
As the Reserve Bank of India (RBI) is set to begin the last Monetay Policy Committee (MPC) meeting of 2024 on December 4, the expectations on the rate cut have started coming in. State Bank of India (SBI) in its report said it does not foresee rate cut during the...
Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine U.S. dollar
Officials, including Chinese President Xi Jinping, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, attend the BRICS summit in Kazan, Russia October 23, 2024. Alexei Danichev | ReutersPresident-elect Donald Trump on Saturday threatened 100%...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Trump names Massad Boulos, campaign liaison and family relative, as a senior adviser on Middle East
Massad Boulos in Dearborn, Michigan, Friday, Nov. 1, 2024.AP Photo | Julia Demaree NikhinsonPresident-elect Donald Trump on Sunday named Massad Boulos, a Lebanese American businessman who is the father-in-law of Trump's daughter Tiffany, as a senior adviser on Arab...
FM Nirmala Sitharaman to move Banking Laws (Amendment) Bill in Lok Sabha tomorrow, ET BFSI
Union Finance Minister Nirmala Sitharaman is expected to move the Banking Laws (Amendment) Bill, 2024 in the lower house of Parliament on Monday.As per the schedule issued by the secretariat, Sitharaman is expected to move the Bill further to amend the Reserve Bank of...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Finance ministry invites applications for PFRDA chairperson post, ET BFSI
The government has begun searching for a successor to Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty whose term is ending in May next year. The PFRDA chairman holds office for five years or till the age of 65 years. The chairman is...
Trump picks real estate mogul Charles Kushner for ambassador to France
Charles Kushner and Jared Kushner attend an event at Lord & Taylor on March 28, 2012 in New York City.Patrick McMullan | Patrick McMullan | Getty ImagesU.S. President-elect Donald Trump said on Saturday that he had picked his son-in-law Jared Kushner's father,...
Canada Prime Minister Trudeau visits Florida to meet with Trump amid tariff threat
Canada's Prime Minister Justin Trudeau takes part in a press conference about the Royal Mounted Police's investigation into "violent criminal activity in Canada with connections to India", on Parliament Hill in Ottawa, Ontario, Canada October 14, 2024. Blair Gable |...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive said.The...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
New Delhi: The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive...
RBI to keep repo rate unchanged at meeting next week, chances of rate cut in Feb increased: Report, ET BFSI
The Reserve Bank of India (RBI) is expected to maintain its policy rate during its upcoming meeting next week, as GDP growth slowed significantly in the second quarter of FY25. However, the likelihood of a rate cut in February has increased, according to a report by...
5 things to know before the stock market opens Friday
Here are the most important news items that investors need to start their trading day:1. Market leftoversU.S. stocks will have a shortened trading day Friday after the market was closed Thursday for Thanksgiving. Equities fell entering the holiday, as some investors...
India cenbank devolves 70% of new green bonds, cutoff below 10-year note, ET BFSI
By Dharamraj DhutiaMUMBAI - The Indian central bank devolved 70% of a new 10-year green bond at an auction on Friday on the primary dealers who underwrote the issue, as market participants likely demanded yields higher than the Reserve Bank of India's comfort, traders...
UK transport minister quits in new blow to PM Starmer
Louise Haigh, U.K. transport secretary, arrives for a pre-budget cabinet meeting in London on Wednesday, Oct. 30, 2024.Bloomberg | Bloomberg | Getty ImagesBritain's transport minister Louise Haigh has resigned after pleading guilty years ago to an offence in...
Lebanon had ‘no say in the decision to go to war,’ foreign minister says
Lebanon's foreign minister on Thursday defended Hezbollah's presence in the region, but said his country had "no say in the decision to go to war" with Israel. Speaking to CNBC's Dan Murphy, Abdallah Bou Habib vowed to uphold a U.S.-France brokered cease-fire that is...
Mexico warns Trump tariffs would kill 400,000 U.S. jobs, threatens retaliation
Mexican President Claudia Sheinbaum speaks after reading a letter to be sent to U.S. President-elect Donald Trump, warning that tariffs would cause inflation and job losses in both countries, at National Palace in Mexico City, Mexico, November 26, 2024. Presidencia De...
Dy Guv Swaminathan, ET BFSI
Mumbai, RBI is working towards creating a robust data analytics ecosystem to support its supervisory functions, ensuring that the approach remains forward-looking and agile in a rapidly changing world, central bank's Deputy Governor Swaminathan J has said. Addressing...
Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersElon Musk and Vivek Ramaswamy will visit Capitol Hill to discuss government reform...
Indian central bank likely selling dollars to support rupee near key level, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to help the rupee hold above a key psychological support level for the currency at 84.50, three traders told Reuters.The rupee was marginally weaker at 84.4625 as of 9:20 a.m. IST, compared to its close...
RBI should allow innovation without causing negative disruption; induct more people with tech background: D Subbarao, ET BFSI
Former Reserve Bank of India governor D Subbarao said today that the central bank and other regulators need to include more people with a technology background as technology is coming in a big way in finance."The main purpose of RBI regulation is to maintain financial...
Ireland has much to mull over as voters head to the polls
Polling station in Ireland. Kinga Krzeminska | Moment | Getty ImagesIreland goes to the polls on Nov. 29, with center-right parties Fianna Fáil and Fine Gael once again expected to form the nucleus of the country's next government.The historical rivals have shared...
Donald Trump Jr. joins drone maker Unusual Machines advisory board
Donald Trump Jr. leaves a fundraiser for Donald Trump hosted by former "Neighbours" star Holly Valance, in London, June 12, 2024.James Manning | PA Images | Getty ImagesThe share price of small U.S. drone and drone component maker Unusual Machines soared more than 90%...
RBI DG Rao highlights quadrant of expectations for REs and global risks, ET BFSI
Reserve Bank of India's (RBI)Deputy Governor M Rajeshwar Rao provided insights into the challenges and expectations of regulated entities (REs) in an evolving financial landscape. Speaking on the theme “Building Synergies,” Rao discussed the importance of aligning...
RBI Dy Guv Rao, ET BFSI
Mumbai, India needs to take a quantum leap in the scale and size of the financial institutions to achieve the aspiration of becoming a developed nation by 2047, RBI Deputy Governor M Rajeshwar Rao has said. He was speaking 'High-Level Policy Conference of Central...
Gujarat unveils new cottage and rural industries policy; eyes 12 lakh jobs in 5 years, ET BFSI
Gandhinagar, The Gujarat government announced on Wednesday its new cottage and rural industries policy, offering higher loans and subsidies to artisans and entrepreneurs to set up units in the state. Minister of Cottage Industries Balwantsinh Rajput, who unveiled the...
Parliament likely to pass Banking Laws Amendment Bill, ET BFSI
Union Finance Minister Nirmala Sitharaman As the Winter Session of Parliament begins on Monday, the Finance Minister Nirmala Sitharaman is set to move the Banking Laws Amendment Bill for passage. The Bill was introduced in the previous Monsoon Session seeking enhanced...
Israel-Hezbollah permanent ceasefire has been accepted, Biden says
A permanent ceasefire between Israel and Lebanon's Hezbollah is scheduled to begin Wednesday, following a yearlong conflict between the Jewish state and Iranian-backed groups.President Joe Biden announced the deal, which was brokered by France and the U.S."Under the...
RBI injects ₹6,956 crore as liquidity turns to deficit, BFSI News, ET BFSI
Mumbai: After running surplus liquidity of about ₹1.4 lakh crore for over two months, the banking system saw a decline in cash, prompting the Reserve Bank of India to inject ₹6,956 crore on Monday.The liquidity deficit was because of the balance of payments turning...
Trump selects Jamieson Greer as U.S. trade representative
U.S. President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, D.C., on Nov. 13, 2024.Allison Robbert | Via ReutersU.S. President-elect Donald Trump tapped attorney Jamieson Greer on Tuesday to serve as the...
Govt to soon provide long-term finance via PACS to further empower farmers: Amit Shah, ET BFSI
New Delhi, Cooperation Minister Amit Shah on Tuesday said the government will soon provide long-term finance through Primary Agricultural Credit Societies (PACS) to further empower the farming community. Speaking at the National Federation of State Co-operative Banks...
Development & decarbonization, ET BFSI
India has consistently championed the principle of “common but differentiated responsibilities” (CBDR), underscoring the need for equitable action that takes historical emissions into account.Recently, at COP29, the annual United Nations Climate Change Conference,...
Trump chooses U.S. Covid policy critic Bhattacharya to lead NIH
Dr. Jay Bhattacharya speaks during a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesPresident-elect Donald Trump on...
Biden proposes Medicare and Medicaid cover weight-loss drugs
Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersMillions of Americans with obesity would be eligible to have popular weight-loss drugs like Wegovy or Ozempic covered by Medicare or...
RBI Dy Governor offers 4 suggestions to MSMEs on credit challenges, ET BFSI
What factors contribute to MSMEs’ credit challenge?: RBI DG shares 4 key suggestions The Deputy Governor of Reserve Bank of India (RBI), Swaminathan J, on Monday highlighted that despite the critical role of the MSME sector in the Indian economy, a common grouse is...
Rate cuts likely to optimise home affordability in next 12 months, Kolkata most affordable: Report, ET BFSI
India's housing market is expected to see a significant shift in affordability by 2025, driven by a projected cumulative 50-basis-point cut in interest rates over the next few months, which is anticipated to make home ownership more accessible for buyers, showed a JLL...
Mahila Samman scheme draws 4.33 million depositors, Maharashtra at the top of the list, ET BFSI
The government’s latest small savings scheme for women, launched on April 1 last year, has drawn 4.33 million depositors across the country, minister of state for finance Pankaj Chaudhary told the Lok Sabha on Monday.Maharashtra led the pack of states with 7,46,223...
Republicans gear up for the coming battle over $5 trillion tax cut’s costs
As Republicans on Capitol Hill lay the groundwork for extending the 2017 tax cuts, cracks are already emerging on one of the biggest questions: how to handle the cost.Extending the tax provisions is estimated to increase the deficit by $5 trillion, according to the...
RBI’s inflation ‘horse’ is at war but FinMin is not worried, BFSI News, ET BFSI
While Reserve Bank of India remains worried, Finance Ministry in its monthly economic review has expressed optimism that moderation in prices of key food items is expected soon with bumper kharif (summer crop) harvest to lower food inflation in the coming months"Early...
RBI governor Shaktikanta Das hospitalised in Chennai, BFSI News, ET BFSI
NEW DELHI: Reserve Bank of India governor Shaktikanta Das has been admitted to a corporate hospital in Chennai, a source told news agency PTI on Tuesday.He was being monitored, the source said without divulging details. There was no immediate official information from...
Banana auction billionaire invests in Trump’s crypto venture
Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, China, on Friday, May 8, 2020.Calvin Sit | Bloomberg | Getty ImagesTron blockchain founder Justin Sun has invested $30 million into Donald Trump's crypto project, World Liberty...
EU challenges Chinese brandy tariffs at WTO
HAIKOU, CHINA - DECEMBER 17: People purchase brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products at Hainan International Convention And Exhibition Center on December 17, 2023 in Haikou, Hainan Province of...
5 things to know before the stock market opens Monday November 25
Here are the most important news items that investors need to start their trading day:1. Turkey tradeU.S. stocks enter a shortened trading week on a winning run. The Dow Jones Industrial Average climbed about 2% last week and notched a record close Friday. The S&P...
PM Modi, BFSI News, ET BFSI
Prime Minister Narendra Modi on Monday emphasised the need to link cooperative movement to circular economy and promote international collaboration in the sector. Addressing the ICA Global Cooperative Conference 2024 at the Bharat Mandapam here, Modi said that for...
Macy’s posts preliminary results, delays full earnings release
A shopper carries a Macy's bag on Market Street in San Francisco, California, US, on Wednesday, Nov. 13, 2024. David Paul Morris | Bloomberg | Getty ImagesMacy's on Monday posted preliminary third-quarter results and said it would delay its full earnings release as it...
Surprise far-right candidate leads in Romania’s presidential vote: Partial results
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesFar-right, pro-Russia independent candidate Calin Georgescu won 22.94% of the vote in Romania's...
How RBI’s gold buying is helping shore up India’s foreign exchange reserves, ET BFSI
The RBI's strategic gold buying has bolstered India’s foreign exchange reserves, offsetting the significant outflow of foreign portfolio investments that resulted in a $47 billion reduction in reserves over a five-week period.Since December 2017, the RBI has been...
Dems back Rubio for State, but criticize Trump-picks Hegseth, Gabbard
A handful of Democrats are sounding their approval of Republican Florida Sen. Marco Rubio as Secretary of State but others continue to doubt some cabinet picks made by President-elect Donald Trump."I think Marco Rubio is enormously well-qualified for the job for which...
Nirmala Sitharaman to move bills to amend banking laws, ET BFSI
New Delhi [India], November 24 (ANI): The Banking Laws (Amendment) Bill which aims to amend the Reserve Bank of India Act, 1934, in addition with the Banking Regulation Act, the State Bank of India Act, among other bills will be moved by Union Finance Minister Nirmala...
Trump picks Brooke Rollins to be agriculture secretary
Brooke Rollins, president and CEO of America First Policy Institute (AFPI), speaks during a discussion hosted by AFPI and The Abraham Accords Peace Institute, in Washington D.C., on Monday, September 12, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesU.S....
Trump expected to pick Brooke Rollins to be Agriculture secretary, WSJ reports
A sign of United States Department of Agriculture is seen on USDA building in Washington D.C., United States on June 21, 2023. The United States Department of Agriculture has approved selling cell-cultured chicken. (Photo by Celal Gunes/Anadolu Agency via Getty...
Policy guidance is more effective when rates are low, BFSI News, ET BFSI
MUMBAI: Interest rate guidance is more effective when policy rates are low as compared to when they are on their way down, according to RBI deputy governor Michael Patra."Under heightened uncertainty, discretion in forward guidance has increasingly gained legitimacy...
Optimal communication is gold standard for all central bankers says RBI deputy Governor, ET BFSI
Optimal communication is gold standard for all central bankers says RBI deputy GovernorMumbai (Maharashtra) [India], November 22 (ANI): Optimal communication is the gold standard for all central bankers, said Reserve Bank of India's Deputy Governor, Michael Debabrata...
Trump picks congresswoman Lori Chavez-Deremer to be labor secretary
Rep. Lori Chavez-DeRemer, R-Ore., participates in the House Transportation Committee hearing on "Oversight of the Department of Transportation's Policies and Programs and Fiscal Year 2025 Budget Request" in the Rayburn House Office Building on Thursday, June 27,...
RBI injects Rs 25,000 cr via VRR route to boost system liquidity, ET BFSI
Mumbai: The Reserve Bank of India (RBI) injected funds into the banking system as the weighted average call rate, a barometer for short-term borrowing costs, rose 23 basis points above the policy repo rate at 6.73% on Friday.Surplus liquidity in the banking system...
Former NY cop pleads guilty to foreign exchange fund fraud conspiracy
U.S. Attorney for the Eastern District of New York, Breon Peace, speaks during a news conference in Brooklyn, New York, U.S., October 22, 2024.Brendan Mcdermid | ReutersFormer New York City police officer Jason Rodriguez pleaded guilty to conspiracy to commit wire...
Trump hush money sentencing delayed indefinitely
Former US President Donald Trump attends the second day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on April 16, 2024.Mary Altaffer | AFP | Getty ImagesA New York judge Friday...
RBI, Maldives Monetary Authority sign pact to promote use of local currencies, ET BFSI
The RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies -- the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding...
Trump AG pick Matt Gaetz says he’s withdrawing
US Representative Matt Gaetz (R-FL) speaks to members of the media after speaking on the House floor about a possible Motion to Vacate to oust US Speaker of the House Kevin McCarthy, outside the US Capitol in Washington, DC, on October 2, 2023.Saul Loeb | AFP | Getty...
Marjorie Taylor Greene with Musk, Ramaswamy on DOGE subcommittee
Rep. Marjorie Taylor Greene, R-Ga., attends a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesRep. Marjorie Taylor...
RBI, Maldives Monetary Authority sign pact to promote use of local currencies, ET BFSI
Mumbai, The RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies -- the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of...
RBI Guv Shaktikanta Das, ET BFSI
Mumbai, Reserve Bank Governor Shaktikanta Das on Thursday said price stability acts as a bedrock for sustained growth, and the central bank's endeavour is to bring down retail inflation to 4 per cent on a durable basis. Speaking on 'Balancing Inflation and Growth: The...
International Criminal Court issues arrest warrants for Netanyahu and Hamas officials
The International Criminal Court issued arrest warrants on Thursday for Israeli Prime Minister Benjamin Netanyahu, his former defense minister and Hamas officials, accusing them of war crimes and crimes against humanity over the war in Gaza and the October 2023...
RBI purchases $9.6 billion in September to curb rupee’s appreciation amid Fed rate cut buzz, ET BFSI
Mumbai: The Reserve Bank of India net purchased $9.6 billion in September, its highest monthly purchase in six months, as the central bank absorbed dollar inflows into local stocks and bonds and curbed the rupee from excess appreciation. The rupee appreciated 0.1% in...
INDIA BONDS-Indian bond yields inch up on cenbank’s inflation worries, debt sale eyed, ET BFSI
By Dharamraj DhutiaMUMBAI, - Indian government bond yields ended a tad higher on Thursday after the central bank emphasized domestic inflation concerns, while market participants awaited a fresh supply of debt through the weekly auction.The benchmark 10-year bond...
RBI tanked up on dollars in H2FY25, ahead of rupee’s fall in oct-Nov, ET BFSI
The Reserve Bank of India (RBI) emerged as a net buyer of dollars during the first half of the current financial year (April-September 2024), purchasing $8.52 billion in the spot market. This marks a significant moderation compared to the $17.68 billion net purchase...
Ukraine says Russia launched an intercontinental missile
Russian President Vladimir Putin meets with Yevgeny Balitsky, Moscow-installed governor of the Russian-controlled parts of Ukraine's Zaporizhzhia region (not pictured), amid the Russia-Ukraine conflict, at the Kremlin in Moscow, Russia, on Nov. 18, 2024.Vyacheslav...
Private consumption back, driving domestic demand: RBI Bulletin, ET BFSI
Mumbai, Private consumption is back driven by festive spending, and the medium-term economic outlook remains bullish as the innate strength of the macro-fundamentals reasserts itself, the Reserve Bank Bulletin said on Wednesday. Global economic activity remained...
Private consumption driving growth in Q3 with rural India taking lead: RBI, ET BFSI
Mumbai, The slack in speed observed in the Indian economy during the second quarter of 2024-25 is behind us as private consumption is back to being the driver of domestic demand with festival spending lighting up real activity in Q3, according to the RBI's monthly...
India’s export outlook brighter as manufactured goods gain share: RBI, ET BFSI
Mumbai, The outlook for India's exports is brightening as underneath the subdued growth profile of the past few months, the country has been gaining a share in global trade of key manufacturing items, according to the RBI bulletin for November."In fact, India...
RBI defends currency strategy, says interventions aim to shield economy from global risks, ET BFSI
India is striving to maintain a stable currency to protect its economy from global spillovers and financial stability risks, the Reserve Bank of India (RBI) said. India' central bank said that the value of the rupee is determined by market demand and supply,...
Billionaire Gautam Adani charged with fraud, bribery in New York
Gautam Adani, chair of Indian conglomerate Adani Group, addresses a gathering during the Vibrant Gujarat Global Summit 2024 in Gandhinagar, Gujarat, India, on Jan. 10, 2024.Punit Paranjpe | AFP | Getty ImagesGautam Adani, chair of India's Adani Group and one of the...
Indian central bank likely selling dollars to support rupee near record low, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling dollars to support the rupee on Thursday as the local currency teetered near its all-time low, four traders told Reuters.The rupee was slightly weaker on the day at 84.4175 as of 09:10 a.m. IST, compared with its...
Effective fiscal-monetary coordination was core for India’s success amid a series of adverse shocks: RBI Governor, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized the critical role of fiscal-monetary coordination in navigating India through a series of external economic shocks. Speaking at the High-Level Policy Conference of Central Banks from the Global South in...
Ethics Committee deadlocks on releasing Matt Gaetz sex, drug probe report
Vice President-elect, Sen. JD Vance (R-OH) (L) and former Congressman Matt Gaetz (R-FL) leave the U.S. Capitol after meeting with Republican members of the Senate Judiciary Committee on November 20, 2024 in Washington, DC.Chip Somodevilla | Getty ImagesThe bipartisan...
Senate seeks evidence in Matt Gaetz FBI sex trafficking probe
Rep. Matt Gaetz, R-Fla., is seen outside a meeting of the House Republican Conference in the U.S. Capitol on Tuesday, January 3, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Senate Judiciary Committee asked the FBI on Wednesday for its "complete...
Trump urges Senate GOP to block Biden’s last judicial nominees
U.S. President-elect Donald Trump attends the America First Policy Institute (AFPI) gala at Mar-A-Lago in Palm Beach, Florida, U.S., November 14, 2024. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday pushed his fellow Republicans in the Senate to stop...
Visa & Mastercard execs grilled by senators on high swipe fees
The Senate Judiciary Committee convened on Tuesday for a hearing on the alleged Visa-Mastercard "duopoly," which committee members from both sides of the aisle say has left retailers and other small businesses with no ability to negotiate interchange fees on credit...
RBI pulls up banks for freezing accounts over KYC, BFSI News, ET BFSI
MUMBAI: RBI pulled up banks for freezing accounts that receive direct benefit transfer (DBT) funds from govt due to incomplete KYC. Banks have also been found to be at fault for delaying KYC updates, resulting in accounts getting frozen.Addressing directors of private...
RBI cautions public over deepfake videos of its top management, ET BFSI
The Reserve Bank of India (RBI) has cautioned public over deepfake videos of its top management being circulated over social media giving financial advice.In a statement Tuesday, RBI said it has come to their notice that fake videos of the Governor (Shaktikanta Das)...
Trump picks Dr. Oz to lead massive Medicare and Medicaid agency CMS
Dr. Mehmet Oz, a former celebrity TV host and Republican U.S. Senate candidate in Pennsylvania, poses for a portrait outside a polling location during the primary election in Rockledge, Pennsylvania, May 17, 2022.Hannah Beier | ReutersPresident-elect Donald Trump on...
Trump attending SpaceX launch with Elon Musk
Nov 16, 2024; New York, NY, USA; President-elect Donald Trump talks with Elon Musk (right) during UFC 309 at Madison Square Garden. Mandatory Brad Penner | Usa Today Sports Via Reuters ConPresident-elect Donald Trump will attend Tuesday's launch of the SpaceX rocket...
Caroline Kennedy calls RFK Jr.’s vaccine views ‘dangerous’
Caroline Kennedy, US ambassador to Australia, speaks during the AFR Business Summit in Sydney, Australia, on Tuesday, March 7, 2023.Brent Lewin | Bloomberg | Getty ImagesRobert F. Kennedy Jr.'s views on vaccines are "dangerous" and rejected by his family, U.S....
Georgia appeals court cancels oral arguments
US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024.Allison Robbert | AFP | Getty ImagesA Georgia appeals court on Monday canceled until further notice oral arguments on an...
Trump Media in reported talks to buy crypto trading platform Bakkt
Trump Media is in "advanced talks" to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks.The news sent shares of both companies soaring.Trump Media, which is majority owned by President-elect...
New York prosecutors set to weigh in
In this courtroom sketch, former U.S. president Donald Trump appears by video conferencing before Judge Juan Merchan during a hearing before his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in...
Russia says Ukraine attacked it using U.S.-made missiles
Moscow signaled to the West that it's ready for a nuclear confrontation after Ukraine was given permission to attack Russian territory — and appeared to quickly act on that greenlight — using U.S.-made long-range missiles.Kyiv appeared to waste little time after...
Sources, BFSI News, ET BFSI
Reserve Bank of India governor Shaktikanta Das NEW DELHI/MUMBAI: The Union government is likely to extend the term of Reserve Bank of India governor Shaktikanta Das for a second time, three sources with direct knowledge of the matter told Reuters, an unprecedented...
RBI cautions public about ‘deepfake’ video of governor being circulated on social media, ET BFSI
Mumbai, Reserve Bank on Tuesday cautioned public against "deepfake" videos of the governor being circulated on social media that claim the launch of or support to some investment schemes by the central bank. In a statement, the RBI cautioned public on "deepfake videos...
Private banks misreporting complaints as queries: Shaktikanta Das, ET BFSI
MUMBAI: RBI Governor Shaktikanta Das has criticised private banks for mishandling customer grievances, flagging a concerning trend of misclassifying complaints as mere queries. "It is disheartening to see complaints being misclassified, which undermines the very...
RBI extends supersession on Abhyudaya Coop Bank board for another year, ET BFSI
Kolkata: The Reserve Bank of India has extended the supersession on Abhyudaya Cooperative Bank board for another year till November 24, 2025 and asked Satya Prakash Pathak to continue as the administrator of the bank.Earlier, the regulator superseded the board on...
RBI governor Shaktikanta Das’ term likely to be extended further, ET BFSI
The central government is likely to extend the term of Reserve Bank of India (RBI) governor Shaktikanta Das for a second time, three sources with direct knowledge of the matter told Reuters. This move would make him the longest-serving chief of India's central bank...
Govt pushes back on key RBI proposals fearing hit to credit growth, ET BFSI
The central government is pushing back on two key proposals of the Reserve Bank of India (RBI), which will require banks to set aside more funds for infrastructure projects and hold more liquid assets against online deposits, a government source told Reuters.Large...
House ethics panel to meet
Rep. Matt Gaetz, R-Fla., leaves the House Republican Conference meeting at the Capitol Hill Club on Tuesday, Oct. 22, 2019.Bill Clark | CQ-Roll Call, Inc. | Getty ImagesThe House Ethics Committee will meet Wednesday to discuss its report on former Rep. Matt Gaetz, who...
UK’s Starmer calls for ‘consistent, durable’ ties with China in Xi meeting
RIO DE JANEIRO, BRAZIL - NOVEMBER 18: UK Prime Minister Sir Keir Starmer during a bilateral meeting with President Xi Jinping of China, at the Sheraton Hotel, as he attends the G20 summit in on November 18, 2024 in Rio de Janeiro, Brazil. Keir Starmer is attending his...
Russia warns U.S. is adding fuel to fire with long-range missile decision
Local residents walk past destroyed houses in the city, approximately 10 km from the frontline, on November 16, 2024 in Pokrovsk, Ukraine.Libkos | Getty ImagesThe Kremlin has lashed back against a White House decision to now allow Ukraine to use U.S.-made long-range...
RBI Guv raises concerns over complaints being misclassified as “customer queries” by banks, ET BFSI
Mumbai, Reserve Bank Governor Shaktikanta Das on Monday expressed concerns over instances wherein banks misclassify complaints as "customer queries" and asked bank boards to ensure lenders' genuine commitment to customer centricity. The governor was speaking at the...
Can’t force banks to waive loans of landslide victims, BFSI News, ET BFSI
Thiruvananthapuram: The Reserve Bank of India (RBI) said it cannot instruct banks to waive loans of Wayanad landslide disaster victims. Currently, the feasible options are either a moratorium or restructuring of liabilities. Banks can take the necessary decisions in...
RBI prepares booklets in Santali language to create financial awareness among tribals, ET BFSI
Bhubaneswar: To create financial literacy awareness among the tribal population, the Reserve Bank of India (RBI), Odisha office has prepared five specific booklets in Santali (Ol Chik) language, an official said. Odisha Chief Minister Mohan Charan Majhi released the...
RBI Guv to bank boards, ET BFSI
Mumbai, RBI Governor Shaktikanta Das on Monday asked banks to proactively monitor their portfolios, identify areas of over-concentration, and take preemptive measures to address potential risks and challenges. The Governor also asked bank boards to strengthen the...
Indian central bank likely selling dollars to support rupee, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling dollars to support the rupee as the currency lingered near its all-time low on Monday, pressed by sustained outflows from local stocks, five traders told Reuters.The rupee was nearly unchanged on the day at 84.39...
Rupee holds ground; cenbank intervention counters outflows, dip in Asia FX, ET BFSI
The Indian rupee ended nearly unchanged on Monday, supported by the central bank's market intervention as portfolio outflows and a decline in most Asian currencies weighed on the local unit.The rupee closed at 84.3850 against the U.S. dollar, nearly unchanged from its...
Municipal corporations need to impose adequate user charges to provide better facilities: RBI report, ET BFSI
NEW DELHI: Municipal corporations need to impose adequate user charges for essential services like water supply and sanitation, to boost non-tax revenues and provide quality public services, according to a Reserve Bank of India (RBI) report.The 'Report on Municipal...
RBI Guv to bank boards, ET BFSI
Mumbai, RBI Governor Shaktikanta Das on Monday asked bank boards to strengthen internal governance framework to curb unethical practices, such as mis-selling of products or opening of accounts without proper KYC verification. Das also said that the incentives for bank...
RBI prepares booklets in Santali language to create financial awareness among tribals, ET BFSI
Bhubaneswar: To create financial literacy awareness among the tribal population, the Reserve Bank of India (RBI), Odisha office has prepared five specific booklets in Santali (Ol Chik) language, an official said. Odisha Chief Minister Mohan Charan Majhi released the...
RBI prepares booklets in Santali language to create financial awareness among tribals, ET BFSI
Bhubaneswar: To create financial literacy awareness among the tribal population, the Reserve Bank of India (RBI), Odisha office has prepared five specific booklets in Santali (Ol Chik) language, an official said. Odisha Chief Minister Mohan Charan Majhi released the...
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms, ET BFSI
By Ashwin Manikandan and Haripriya SureshMUMBAI - India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as...
Trump taps Brendan Carr to chair Federal Communications Commission
Brendan Carr speaks during a House Committee on Energy and Commerce Subcommittee on Communications and Technology Hearing titled Connecting America.The Washington Post | The Washington Post | Getty ImagesPresident-elect Donald Trump will tap Brendan Carr, a critic of...
RBI plans 2025 launch of cloud services, countering dominance of global firms, ET BFSI
India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential.The Reserve Bank of...
Biden allows Ukraine to use U.S. arms to strike inside Russia
U.S. President Joe Biden embraces Ukraine's President Volodymyr Zelenskyy as they visit the Wall of Remembrance to pay tribute to killed Ukrainian soldiers, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 20, 2023.Ukrainian Presidential Press Service | Via...
House Speaker Johnson says Gaetz ethics report shouldn’t be released
U.S. House Speaker Mike Johnson (R-LA) speaks to reporters as House Republican leaders hold a press conference at the U.S. Capitol House in Washington, U.S., November 12, 2024. Nathan Howard | ReutersHouse Speaker Mike Johnson said Sunday that House Ethics Committee's...
Senegal votes for lawmakers in test for new president
A voter casts his ballot at a voting station in the fishing village of Ndayane on Nov. 17, 2024, during Senegal's parliamentary elections.John Wessels | Afp | Getty ImagesSenegal headed to the polls on Sunday to vote in legislative elections that the president hopes...
Elon Musk endorses Trump’s transition co-chair Howard Lutnick for Treasury secretary
Elon Musk at the tenth Breakthrough Prize ceremony held at the Academy Museum of Motion Pictures on April 13, 2024 in Los Angeles, California.The Hollywood Reporter | The Hollywood Reporter | Getty ImagesOn Saturday, Elon Musk shared who he is endorsing for Treasury...
Trump picks oil industry CEO Chris Wright as Energy secretary
US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC, U.S. on November 13, 2024. Allison Robbert | Via ReutersPresident-elect Donald Trump said on Saturday that oil and gas industry executive Chris...
RBI Governor Calls for Continued Economic Reforms in India for Growth Stability, ET BFSI
KOCHI: Initiatives like the Insolvency and Bankruptcy Code 2016, GST and flexible inflation targeting frameworks have fostered progress, India must persist with structural reforms, particularly in the land and labour sectors, said Reserve Bank of India (RBI) governor...
Indian economy well placed to handle any kind of spillovers from global events: RBI Guv, ET BFSI
Kochi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said that the Indian economy and financial sector are well placed to handle any kind of spillovers from global events. The country's external sector is also strong and our current account deficit...
During meeting with Biden, China’s Xi cautions the U.S. to ‘make the wise choice’ to keep relations stable
China's leader Xi Jinping met for the last time with U.S. President Joe Biden on Saturday but was already looking ahead to President-elect Donald Trump and his "America first" policies, saying Beijing "is ready to work with a new U.S. administration."During their...
RBI Declines to Waive Loans for Wayanad Landslide Victims, BFSI News, ET BFSI
Thiruvananthapuram: The Reserve Bank of India (RBI) said it cannot instruct banks to waive loans of Wayanad landslide disaster victims. Currently, the feasible options are either a moratorium or restructuring of liabilities. Banks can take the necessary decisions in...
China willing to be partners, friends with US, Chinese envoy says
The national flags of the United States and China flutter at the Fairmont Peace Hotel on April 25, 2024 in Shanghai, China.Wang Gang | Visual China Group | Getty ImagesChina is willing to be partners and friends with the United States, China's ambassador to Washington...
Shaktikanta Das to stay or leave RBI? His future and your wallets are connected, ET BFSI
RBI Governor Shaktikanta DasUncertainty about the future of India’s central bank governor, whose contract ends in less than a month, is adding another layer of complexity to interest rate expectations.Shaktikanta Das, who has been at the helm of the Reserve Bank of...
Trump Defense pick Pete Hegseth sex assault probe revealed
Pete Hegseth, host of Fox & Friends, at the National Council of Young Israel Gala in New York City.Michael Brochstein | SOPA Images | Lightrocket | Getty ImagesPolice in California investigated Fox News host Pete Hegseth — who was picked this week by...
Democratic senators call for probe into Musk’s Russia calls: Reuters
Elon Musk wears a black "Make America Great Again" cap while attending a campaign rally with Republican presidential nominee and former President Donald Trump at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024 (L), and Russian President and...
Major Trump Media shareholder ARC Global unloads nearly all DJT stock
Omar Marques | Lightrocket | Getty ImagesOne of the top shareholders of President-elect Donald Trump's media company has unloaded nearly his entire stake, a regulatory filing showed.The Thursday night disclosure to the U.S. Securities and Exchange Commission showed...
Germany’s Scholz urges Putin in phone call to open talks with Ukraine
German Chancellor Olaf Scholz (SPD, r) and Russian President Vladimir Putin look up after several hours of one-on-one talks at a joint press conference. Scholz met the Russian president for talks on the situation on the Ukrainian-Russian border.Kay Nietfeld | picture...
François Hollande calls for a united Europe after Trump election win
French President Francois Hollande delivers a speech as he attends the inauguration of the new 'Sud Europe Atlantique' (South Europe Atlantic) high-speed rail line, linking Tours and Bordeaux, on February 28, 2017, in Villognon, central France.Yohan Bonnet | AFP |...
India to clock 7.2 pc growth in 2024, RBI to hold interest rates steady this year: Moody’s, ET BFSI
New Delhi, Moody's Ratings on Friday forecast a 7.2 per cent GDP growth for India in 2024, saying the Indian economy is in a sweet spot, but inflation risks may prompt the RBI to retain a relatively tight monetary policy this year. Moody's said that despite the...
Trump picking Matt Gaetz for AG puts House sex, drug probe in focus
Multiple Republican senators gave a chilly reception to President-elect Donald Trump's selection of Matt Gaetz for U.S. attorney general, putting the former Florida congressman's odds of being confirmed by the Senate in question.The surprise announcement Wednesday,...
Trump might cede climate leadership to China
President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019.Kevin Lemarque | ReutersAfter a campaign featuring promises to slash landmark climate legislation, and a...
Bitcoin money launderer Ilya Lichtenstein gets prison sentence
Booking photos for Heather Morgan and Ilya Lichtenstein.Courtesy: Alexandria Adult Detention Center.A man whose 2016 hack of Bitfinex drained nearly 120,000 bitcoin from that cryptocurrency exchange was sentenced Thursday to five years in prison for a money laundering...
Shaktikanta Das to stay or leave RBI? His future and your wallets are connected, ET BFSI
RBI Governor Shaktikanta DasUncertainty about the future of India’s central bank governor, whose contract ends in less than a month, is adding another layer of complexity to interest rate expectations.Shaktikanta Das, who has been at the helm of the Reserve Bank of...
3 methodologies approved for issuing high-integrity carbon credits, ET BFSI
Baku, The Integrity Council for the Voluntary Carbon Market on Friday announced approval of three methodologies for issuing high-integrity carbon credits for reducing emissions from deforestation and forest degradation in developing countries (REDD+). Carbon markets...
Trump picks RFK Jr. for Health and Human Services secretary
President-elect Donald Trump said Thursday that he will nominate vaccine skeptic and conspiracy theorist Robert F. Kennedy Jr. as secretary of the Health and Human Services Department.If the Senate approves Kennedy, the former independent presidential candidate will...
RBI Deputy Governor Swaminathan, ET BFSI
Reserve Bank of India (RBI) Deputy Governor Swaminathan J on Thursday stressed the need for urban cooperative banks to evolve digitally, addressing IT and cybersecurity gaps as he highlighted the importance of improving the liquidation process to protect depositors'...
Javier Milei visits Trump, Elon Musk as DOGE takes shape
President-elect Donald Trump and Argentina's President Javier Milei at Mar-a-Lago on November 14, 2024Courtesy presidential office of ArgentinaSelf-described anarcho-capitalist President Javier Milei of Argentina became the first foreign leader to visit...
Risk of inflation coming back and growth slowing down globally, says RBI Governor, ET BFSI
Risk of inflation coming back and growth slowing down globally, says RBI GovernorReserve Bank Governor Shaktikanta Das said that the central bank has ensured a "soft landing" after having faced with various headwinds, but "risks of inflation coming back and growth...
5 things to know before the stock market opens Thursday
Here are the most important news items that investors need to start their trading day:1. Trump trade tremblesA trader wears a hat in support of Republican Donald Trump, after he won the U.S. presidential election, at the New York Stock Exchange in New York City, Nov....
Trump’s transition team aims to kill Biden EV tax credit: Reuters
U.S. President Joe Biden answers questions from reporters after driving a Jeep Wrangler Rubicon Xe around the White House driveway following remarks during an event on the South Lawn of the White House on Aug. 5, 2021, in Washington, D.C. Biden delivered remarks on...
Rudy Giuliani lawyers seek to quit defamation claim case
Rudy Giuliani (C) arrives at the New York court following a judge's order compelling his appearance in the defamation case filed by Georgia election workers in New York, United States on November 07, 2024. Lokman Vural Elibol | Anadolu | Getty ImagesLawyers...
Union Minister Nirmala Sitharaman, ET BFSI
Union Finance Minister Nirmala Sitharaman on Thursday emphasised that welfare measures have always been present, but the shift now is that these measures are no longer patronizing beneficiaries. Instead, they acknowledge that people are capable of producing marketable...
Will RBI Cut Rates in December? Governor Shaktikanta Das Responds to Piyush Goyal’s Request, ET BFSI
Reserve Bank of India Governor Shaktikanta DasNew Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das did not reveal the apex bank's plans for rate cuts in the upcoming December 2024 monetary policy announcement. There has been a buzz surrounding possible rate...
RBI deputy governor Patra lists digitalisation gains for Indian banks, ET BFSI
Indian banks have seen substantial productivity improvements from digitalisation initiatives, according to Michael Debabrata Patra, Deputy Governor of the Reserve Bank of India (RBI).Key advancements include significant cost reductions, time savings, and operational...
RBI reaffirms SBI, HDFC Bank, and ICICI Bank as domestic systemically important banks, ET BFSI
The Reserve Bank of India (RBI) has reaffirmed State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) under the same structure as the previous year’s list. These D-SIBs, commonly referred to as “too big to fail,” are...
Municipal corporations need to enhance own sources of revenue: RBI report, ET BFSI
Mumbai, Municipal corporations need to enhance their sources of revenue through reforms in property tax, rationalisation of user charges, and better collection mechanisms, an RBI report has suggested. The elasticity of property tax revenues, the predominant source of...
Special counsel Jack Smith seeks pause
Special counsel Jack Smith speaks to members of the media at the U.S. Department of Justice building in Washington, D.C., on Aug. 1, 2023.Saul Loeb | AFP | Getty ImagesSpecial counsel Jack Smith asked a federal appeals court Wednesday to pause proceedings in his...
Municipal corporations need to enhance own sources of revenue: RBI report, ET BFSI
Mumbai, Municipal corporations need to enhance their sources of revenue through reforms in property tax, rationalisation of user charges, and better collection mechanisms, an RBI report has suggested. The elasticity of property tax revenues, the predominant source of...
Trump picks Rep. Matt Gaetz as attorney general
President-elect Donald Trump said Wednesday that he will nominate Republican Rep. Matt Gaetz of Florida as U.S. attorney general.Gaetz has submitted his resignation from Congress, House Speaker Mike Johnson revealed at a news conference Wednesday evening. The...
India trade minister says central bank should cut rates, look through food prices, ET BFSI
MUMBAI - India's central bank should cut interest rates to boost economic growth and look through food price while deciding on monetary policy, the trade minister said, the first time a government minister has backed calls to re-examine the nation's inflation...
Indian economy ‘sailing smoothly’ amid global challenges, says RBI Governor Shaktikanta Das, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das shared an optimistic outlook on India’s economy, highlighting its resilience amid global turbulence, while speaking at CNBC-TV18’s Global Leadership Summit, on Thursday. Despite ongoing global challenges—including...
What has Marco Rubio said about China, Iran, Israel and Ukraine?
Republican presidential nominee and former U.S. President Donald Trump and Senator Marco Rubio (R-FL) react during a campaign event at Dorton Arena, in Raleigh, North Carolina, U.S. November 4, 2024. Jonathan Drake | ReutersPresident-Elect Donald Trump's nomination of...
Republicans projected to win House majority, securing GOP trifecta
Speaker of the House Mike Johnson, R-La., holds the gavel onstage ahead of the start of the first day of the Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 15, 2024.Andrew Harnik | Getty ImagesRepublicans will keep control of the...
Trump Media CFO, director sell DJT stock
Pavlo Gonchar | Lightrocket | Getty ImagesThe chief financial officer of Trump Media and two other corporate insiders sold more than $16 million worth of company stock in the week following the presidential election, according to new disclosures.Most of the stock was...
New Senate Majority Leader elected in early test of Trump’s power
U.S. Sen. John Thune, (R-SD) speaks with reporters following the Senate Republicans weekly policy lunch on Capitol Hill in Washington, U.S., March 6, 2024. Bonnie Cash | ReutersRepublicans elected Sen. John Thune of South Dakota to be the Senate majority leader on...
Elon Musk, Trump will meet with House Republican conference
Elon Musk, chief executive officer of Tesla Inc., left, and former US President Donald Trump, prior to a campaign event at the Butler Farm Show in Butler, Pennsylvania, US, on Saturday, Oct. 5, 2024. Justin Merriman | Bloomberg | Getty ImagesElon Musk on Wednesday...
India cenbank pushes for expansion of municipal bond market, BFSI News, ET BFSI
MUMBAI, - India's smaller municipal corporations (MCs) could explore issuing municipal bonds to diversify their funding sources, the central bank said on Wednesday.An MC in India is a local government body responsible for administering and providing civic amenities to...
RBI Deputy Guv, ET BFSI
Jaipur, The average number of daily e-transactions to access public services in India has increased by 56 per cent in 2024 compared to the previous year while there has been a transfer pf Rs 6.9 lakh crore through the digitally-powered Direct Benefit Transfers (DBT)...
Israel not in violation of U.S. law, Gaza aid will be monitored: State Dept.
US Secretary of State Antony Blinken addresses a press conference in Tel Aviv on January 9, 2024, during his week-long trip aimed at calming tensions across the Middle East, amid continuing battles between Israel and the Palestinian militant group Hamas in...
Final redemption price of SGB 2016-17 Series III announced; check details, ET BFSI
The Reserve Bank of India (RBI) announced the final redemption under the Sovereign Gold Bond details of SGB 2016-17 Series III issued on November 17, 2016. The SGB is repayable on the expiration of eight years from the date of issue of the Gold Bonds. Accordingly, the...
Trump’s tariff threats send lobbyists scrambling to find loopholes
In the days since President-elect Donald Trump won the presidential race, Nicole Bivens Collinson's phone has barely stopped ringing.Collinson, who helps lead the international trade and government relations division at the lobbying firm Sandler, Travis &...
RBI may not cut rates in FY25 as CPI Inflation hits 14-month high: SBI Research, ET BFSI
The Reserve Bank of India (RBI) is unlikely to reduce interest rates in the first quarter of 2025 after it surged beyond its tolerance band in October, say analysts."We expect Nov’24 inflation numbers are likely to be closer to 5.3% and the average FY25 inflation...
RFK Jr. site crowdsources Trump administration appointees
Robert F. Kennedy Jr. and Republican presidential nominee and former U.S. President Donald Trump attend a campaign event sponsored by conservative group Turning Point USA, in Duluth, Georgia, U.S., October 23, 2024.Carlos Barria | ReutersRobert F. Kennedy Jr. doesn't...
Trump backer John Paulson bows out as possible Treasury Secretary pick
John Paulson visits "Mornings With Maria" at Fox Business Network Studios on October 23, 2024 in New York City. John Lamparski | Getty ImagesHedge fund chief John Paulson removed himself Tuesday from consideration as a potential nominee for Treasury secretary by...
Trump criminal case ruling delayed by election
In this courtroom sketch, former U.S. president Donald Trump appears by video conferencing before Judge Juan Merchan during a hearing before his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in...
Germany sets election date for February after ruling coalition collapse
German Chancellor Olaf Scholz attends a session of the Bundestag in which new Finance Minister Joerg Kukies was sworn in the day after Scholz fired previous Finance Minister Christian Lindner on November 7, 2024 in Berlin, Germany.Sean Gallup | Getty ImagesGermany is...
Star India to make web series on Reserve Bank, BFSI News, ET BFSI
Star India will make a web series on the Reserve Bank of India's 90-year-long journey to help people have a better understanding about the central bank's vital role in the country's fast-growing economy. The Reserve Bank of India (RBI), which was set up in 1935,...
RBI rolls out rules to reclassify FPI investment as FDI, BFSI News, ET BFSI
MUMBAI: The central bank Monday laid down the rules a foreign portfolio investor (FPI) must follow, including seeking the Centre's approval for raising equity ownership, once its holding in an Indian company breaches the prescribed 10% regulatory threshold. These...
SBI chief, BFSI News, ET BFSI
MUMBAI: Even as SBI’s deposit rates have peaked, C S Setty, chairman of the country’s largest bank, expects RBI to cut interest rates by a moderate 25 basis points only in Feb 2025. SBI aims to grow its deposits by differentiating itself on services available and...
Trump taps Lee Zeldin for EPA, Rep. Elise Stefanik for UN post
Former U.S. President and Republican presidential candidate Donald Trump reacts as former U.S. Representative Lee Zeldin speaks at a rally ahead of the New Hampshire primary election in Concord, New Hampshire, U.S. January 19, 2024.Elizabeth Frantz |...
Indian cenbank likely selling dollars to support rupee amid Asian currencies’ slide, ET BFSI
MUMBAI - The Indian central bank was likely selling dollars to support the rupee after the local currency hit its all-time low on Tuesday, pressured by a Chinese yuan-led decline in Asian currencies, four traders told Reuters.The rupee weakened to a low of 84.40 per...
Nirmala Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22, ET BFSI
Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said. The meeting assumes significance as states finance ministers would present their...
Trump deportation policy run by ‘border czar’ with more power, fewer hurdles
President Donald Trump (C) holds a law enforcement roundtable on sanctuary cities, in the Roosevelt Room at the White House on March 20, 2018 in Washington, D.C. Trump was joined by Attorney General Jeff Sessions (L), and Homeland Security Secretary Kirstjen Nielsen,...
SBI chief, BFSI News, ET BFSI
MUMBAI: Even as SBI’s deposit rates have peaked, C S Setty, chairman of the country’s largest bank, expects RBI to cut interest rates by a moderate 25 basis points only in Feb 2025. SBI aims to grow its deposits by differentiating itself on services available and...
RBI introduces new framework for FPI to FDI reclassification to enhance ease of business, ET BFSI
The Reserve Bank of India has finalised an operational framework for the reclassification of Foreign Portfolio Investment made by Foreign Portfolio Investors (FPI) to Foreign Direct Investment (FDI) under Foreign Exchange Management (Non-debt Instruments) Rules, 2019...
Will RBI follow the US Fed in a shallow rate cut cycle?, BFSI News, ET BFSI
The Federal Reserve’s recent decision to cut its benchmark interest rate by another 25 basis points, taking the federal funds rate target range to 4.5%-4.75%, may prompt a cautious response from the Reserve Bank of India (RBI), according to analysts. This is Fed's...
Rupee slips to record low as Asia FX declines; RBI likely steps in, ET BFSI
The Indian rupee weakened to its lowest level on record on Monday, as worries about Donald Trump's victory in the U.S. election kept Asian currencies under pressure while sustained outflows from Indian stocks weighed on the local currency.Likely intervention by the...
Trump ‘most likely’ needs 60 votes in Senate to enact tariff plan, Sen. Rick Scott suggests
Chip Somodevilla | Getty ImagesPresident-elect Donald Trump proposed sweeping new tariffs while on the campaign trail. The self-proclaimed "Tariff Man" has said he could impose such levies on U.S. imports without Congress' approval.There's debate among economists and...
Musk endorses Trump intervening on Federal Reserve after election win
Tesla CEO Elon Musk (R) joins former U.S. President and Republican presidential candidate Donald Trump during a campaign rally at the site of his first assassination attempt in Butler, Pennsylvania, on Oct. 5, 2024.Jim Watson | Afp | Getty ImagesTesla and SpaceX CEO...
FEMA fires employee who told Florida relief to skip Trump supporters
Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell stands next to a track map of Hurricane Ian, during a press conference at FEMA Headquarters on September 28, 2022 in Washington, DC.Kevin Dietsch | Getty Images News | Getty ImagesThe Federal...
Trump says Haley, Pompeo will not join second administration
President-elect Donald Trump speaks during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, on November 6, 2024.Jim Watson | AFP | Getty ImagesPresident-elect Donald Trump said on Saturday that former Republican...
US ordered TSMC to halt shipments to China of chips used in AI: Source
TSMC displayed on a phone screen and microchip and are seen in this illustration photo taken in Krakow, Poland on July 19, 2023Jakub Porzycki | Nurphoto | Getty ImagesThe U.S. ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese...
Biden and Trump will meet in the Oval Office on Wednesday, the White House says
View of the White House as the sun sets the day after the Presidential election, in Washington, DC on November 6, 2024. Ting Shen | AFP | Getty ImagesPresident Joe Biden will host President-elect Donald Trump for a traditional postelection meeting in the Oval Office...
RBI includes spot deals to expand forex reporting requirements, ET BFSI
The Reserve Bank on Friday said it has decided to expand the reporting requirement of forex transactions and include foreign exchange spot deals to ensure completeness of transaction data in the trade repository (TR) of the Clearing Corporation of India. Currently,...
Special counsel Jack Smith seeks pause in Trump criminal 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...
Trump reiterates no plans to sell DJT after election win; stock soars
Jakub Porzycki | Nurphoto | Getty ImagesTrump Media shares soared Friday after President-elect Donald Trump reaffirmed he has no plans to sell off his stake in the Truth Social operator.Trump's announcement, posted on Truth Social, was his personally first written...
Europe cannot finance Ukraine war if Trump pulls U.S. out of the conflict, Hungary’s Orban warns
Hungarian Prime Minister Viktor Orban attends ADF Talks as part of the Antalya Diplomacy Forum (ADF) at NEST Congress and Exhibition Center in Antalya, Turkiye on March 01, 2024.Emin Sansar | Anadolu | Getty ImagesEurope alone cannot shoulder the financial strain of...
Black business leaders consider how to approach a Trump administration
Black business leaders are still trying to figure out why Vice President Kamala Harris lost the presidential race, and how to approach the coming administration of President-elect Donald Trump."It certainly means change. That's what the voters wanted and that's what...
RBI’s shift to neutral stance have eased concerns of widening credit-deposit gap: Jefferies, ET BFSI
RBI's shift to neutral stance have eased concerns of widening credit-deposit gap: JefferiesNew Delhi [India], November 8 (ANI): The Reserve Bank of India's (RBI) shift to a neutral liquidity stance, is expected to ease liquidity concerns says a report by investment...
Goyal, BFSI News, ET BFSI
Panaji, Union Commerce and Industry Minister Piyush Goyal on Friday said India's growth story will take the country's USD 3.5 trillion economy now to USD 35 trillion in the next 25 years. Addressing the inaugural session of Amazing Goa Global Business Summit 2024,...
What Trump’s win could mean for student loan forgiveness
The U.S. Department of Education's work to cancel student debt for tens of millions of Americans will likely come to a halt with the election of Donald Trump, who has called the efforts "vile" and "not even legal."When Trump reenters the White House in January, he...
Trump takes rare social media break after election win
Republican presidential nominee, former U.S. President Donald Trump arrives to speak with former first lady Melania Trump during an election night event at the Palm Beach Convention Center on November 06, 2024 in West Palm Beach, Florida. Chip Somodevilla | Getty...
Here’s how much control the president has over the U.S. economy
About 50% of Americans believe the result of the 2024 presidential election will directly affect their personal finances, according to a survey by financial services company Empower. And about 99% of voters in a Gallup survey said the economy was at least somewhat...
CORRECTED-Indian cenbank likely selling dollars to help rupee avert record low, traders say, ET BFSI
(Corrects to 84.37-84.3750, from 83.37-83.3750, in paragraph 3)MUMBAI, - The Indian central bank was likely selling U.S. dollars on Friday to support the rupee as the currency was pinned near its all-time low due to persistent outflows from local stocks, five traders...
Polymarket signaled Trump win, will return to U.S.
Online election betting platform Polymarket plans to bring its prediction markets back to customers in the United States, on the heels of accurately forecasting the electoral win of President-elect Donald Trump."I want to give a lot of credit to the people who fought...
Rudy Giuliani responds to election workers claims on assets
Rudy Giuliani (C) arrives at the New York court following a judge's order compelling his appearance in the defamation case filed by Georgia election workers in New York, United States on November 07, 2024.Lokman Vural Elibol | Anadolu | Getty ImagesFormer Trump lawyer...
Germany appoints Jörg Kukies as new finance minister as pressure for quick snap elections mounts
Olaf Scholz, Germany's chancellor, right, speaks with aide Joerg Kukies at the COP27 climate conference at the Sharm El Sheikh International Convention Centre in Sharm El-Sheikh, Egypt, on Monday, Nov. 7, 2022.Islam Safwat | Bloomberg | Getty ImagesJörg Kukies was...
India cenbank sees European proposal for oversight of clearing corp as ‘extra jurisdictional’, official says, ET BFSI
MUMBAI, - India's central bank continues to be in talks with the European Securities and Markets Authority (ESMA) but views the latter's proposal for supervisory and auditing powers over domestic clearing corporations as "extra jurisdictional", an official said on...
Trump election win may end criminal cases but not civil fines
Republican presidential nominee and former U.S. President Donald Trump takes the stage following early results from the 2024 U.S. presidential election in Palm Beach County Convention Center, in West Palm Beach, Florida, U.S., November 6, 2024. Callaghan O'hare |...
German Chancellor Olaf Scholz fires Finance Minister Christian Lindner
German Chancellor Olaf Scholz and Finance Minister Christian Lindner in the Bundestag on June 26, 2024 in Berlin, Germany.Michele Tantussi | Getty Images News | Getty ImagesChancellor Olaf Scholz announced Wednesday he had dismissed Finance Minister Christian Lindner,...
Harris concedes election to Trump in speech
"Earlier today, I spoke with President-elect Trump and congratulated him on his victory," Harris said at the vice president's alma mater Howard University, in Washington, D.C.It was the first time that Harris had spoken on camera to the public since Trump declared...
Reserve Bank amends master direction on KYC, BFSI News, ET BFSI
Mumbai, The Reserve Bank on Wednesday made changes to the Know Your Customer (KCC) norms to align them with recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules and revised certain existing instructions. According to the...
Trump victory deals latest severe blow to a struggling Germany
Olaf Scholz, Germany's chancellor, during a news conference at the Chancellery in Berlin, Germany, on Monday, Nov. 4, 2024.Krisztian Bocsi | Bloomberg | Getty ImagesDonald Trump's election as U.S. President could mark yet another major blow for the struggling German...
Central banks revisit their rate-cut plans, BFSI News, ET BFSI
Central bankers the world over are gauging whether their worst fears over Donald Trump will come to pass following his resounding return to the US presidency.Trump has promised levies on US imports that would upend global trade, tax cuts that would further stretch the...
House majority still in play as Republicans eye a red sweep
U.S. Speaker of the House Mike Johnson (R-LA) and U.S. House of Representatives Democratic Leader Hakeem Jeffries (D-NY).Tom Williams | Michael A. McCoy | ReutersThe race to control the House is undecided, though Republicans are already expressing early optimism about...
World leaders react as Trump secures White House victory
Former US President Donald Trump (L) shakes hands with Israeli Prime Minister Benjamin Netanyahu (R) as they pose for a photo within their meeting at Mar-a-Lago estate, in Palm Beach, Florida, United States on July 26, 2024. Amos Ben-Gershom | Anadolu | Getty ImagesA...
EU reaction to US election 2024
Donald Trump (L), President of the USA, and Emmanuel Macron, President of France, join hands during the final press conference of the G7 Summit on 26 August 2019, in Biarritz, France.NurPhoto | NurPhoto | Getty ImagesEuropean officials have been quick to congratulate...
Government subsidies are a concern, may impact GDP: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], November 6 (ANI): RBI Governor Shaktikanta Das said on Wednesday that capital expenditure spending of the centre and states are picking up but high subsidy outgo is a concern.Das was speaking at the BFSI Summit organised by a business...
Tim Sheehy defeats Jon Tester
Montana Republican U.S. Senate candidate Tim Sheehy walks up to the stage during a rally for Republican presidential nominee, former U.S. President Donald Trump at the Brick Breeden Fieldhouse at Montana State University on August 9, 2024 in Bozeman, Montana.Michael...
Trump live updates: Markets and world leaders react to America's new president-elect
Donald Trump won a decisive victory in the U.S. presidential race, defeating Kamala Harris and surprising even his closest allies.
Trump wins 2024 presidential election
Republican presidential nominee Donald Trump will defeat his Democratic rival, Kamala Harris, and return to the White House for another four years, NBC News projects.After losing his reelection bid to President Joe Biden in 2020, Trump, the 45th president, will now...
Immediate rate cut unlikely, inflation still a concern: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], November 6 (ANI): RBI Governor Shaktikanta Das clarified on Wednesday that changing the monetary policy stance to 'neutral' does not mean a rate cut in the central bank's next policy announcement."It should not be assumed that we have...
Republicans will win Senate majority
Republicans are expected to regain majority control of the U.S. Senate in 2025, according to NBC News.Democrats entered Tuesday's elections with 47 seats out of 100 in the Senate. But the four independents in the chamber caucus with Democrats, giving the party a...
Indian central bank likely selling dollars to support rupee, traders say, ET BFSI
MUMBAI, - The Indian central bank is likely selling dollars on Wednesday to support the rupee, which sank to an all-time low at the open as U.S. Treasury yields jumped and Asian currencies fell amid Republican candidate Donald Trump building a lead in the U.S....
Trump declares victory over Harris in presidential election
Donald Trump declared victory in the presidential election early Wednesday morning, as the Republican led Kamala Harris in projected Electoral College votes in the presidential election.Neither Trump nor Harris has secured the 270 Electoral College votes needed to win...
2024 Presidential Election Results – Live updates
First results are in from a small New Hampshire town — it's a Harris-Trump tieA voter walks with his dog after casting his ballot in the First-in-the-Nation midnight vote for the New Hampshire primary elections in the Living Room of the Tillotson House at the Balsams...
These countries have the most at stake as the U.S. heads to the polls
Democratic presidential nominee, U.S. Vice President Kamala Harris, and Republican presidential nominee, former U.S. President Donald Trump.Scott Olson | Bill Pugliano | Getty ImagesThe world is watching the U.S. presidential election as voters go to the polls...
RBI, BFSI News, ET BFSI
Mumbai, As many as 98.04 per cent of the Rs 2000 banknotes which were in circulation as of May 19, 2023, have now been returned with the total value of such notes outside the banking system coming down to Rs 6970 crore at the close of business on October 31, 2024,...
Trump tariffs could spike retail prices dramatically: NRF report
People shop in an Abercrombie & Fitch store in midtown Manhattan on October 24, 2024 in New York City. Spencer Platt | Getty ImagesFormer President Donald Trump's universal tariff proposals could cause prices to skyrocket on clothing, toys, furniture, household...
RBI’s new domestic money transfer rules for stronger KYC are applicable from November 1, 2024; check details, ET BFSI
The Reserve Bank of India (RBI) had issued a new framework on Domestic Money Transfer (DMT) in July 2024 for regulated enterprises, requiring stronger Know Your Customer (KYC) record standards and focusing on banking services and payment systems.The new guidelines are...
Immigration plan on ballot could worsen worker shortage
PHOENIX — Immigration is a top election issue across the country, but few places feel it more than Arizona, the only swing state along the southern border and home to one of the races that could make or break control of the Senate.Arizona businesses say a shortage of...
Elon Musk and PAC know voter lottery illegal, DA says
Larry Krasner, Philadelphia's district attorney, center, departs after a hearing at City Hall in Philadelphia, Pennsylvania, US, on Thursday, Oct. 31, 2024. Ryan Collerd | Bloomberg | Getty ImagesPhiladelphia District Attorney Larry Krasner on Monday testified that...
2024 Presidential Election – Live updates
Harris to barnstorm Pennsylvania on the final day of campaigningDemocratic presidential nominee and U.S. Vice President Kamala Harris attends a campaign rally, in Erie, Pennsylvania, U.S., October 14, 2024.Evelyn Hockstein | ReutersHarris will spend her final day on...
How RBI is going about global rollout of digital rupee, ET BFSI
India’s journey toward a cashless economy is advancing as the Reserve Bank of India (RBI) develops the digital rupee (e₹), its Central Bank Digital Currency (CBDC). With 16 banks and over 5 million users already participating in a pilot project, the RBI is steadily...
Planning to remit more than $250,000? The RBI plans to keep a close watch, ET BFSI
Banks have approached the Reserve Bank of India (RBI) seeking integration with its Centralised Information Management System (CIMS) platform, aiming for real-time verification of limit utilisation under the Liberal Remittance Scheme (LRS), said people familiar with...
ICT’s contribution to output growth surged to 13.2 pc during 1992-2023: RBI paper, ET BFSI
New Delhi, The contribution of information and communication technology (ICT) to output growth in India increased from 5.0 per cent in 1981-1990 to 13.2 per cent during 1992-2023, according to a recent RBI paper.On average, the ICT sector's productivity fared better...
Donald Trump win looming? RBI well-equipped for post-US election volatility, ET BFSI
The Reserve Bank of India (RBI) is well-equipped to deal with a potential sudden outflow of foreign funds and any steep fall in the rupee if Republican candidate Donald Trump wins next week's U.S. presidential election, two sources familiar with the bank's thinking...
RBI invites applications for the post of Deputy Governor, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has announced an invitation for applications for the position of Deputy Governor. The notification outlines specific qualifications, age limits, salary details, term of office, and application submission guidelines for prospective...
Trump says RFK Jr. plan to remove fluoride from public water ‘sounds okay to me’
Robert F. Kennedy Jr. and Republican presidential nominee and former U.S. President Donald Trump attend a campaign event sponsored by conservative group Turning Point USA, in Duluth, Georgia, U.S., October 23, 2024.Carlos Barria | ReutersFormer president Donald Trump...
Trump’s final campaign message muted by distractions, disconnect
Republican presidential nominee and former U.S. President Donald Trump attends his campaign rally at Macomb Community College in Warren, Michigan, U.S., November 1, 2024.Brian Snyder | ReutersFormer President Donald Trump's final week in the race against Vice...
Nearly $1 billion has been spent on political ads over the last week
Republican presidential nominee, former U.S. President Donald Trump, greets supporters during a campaign rally at The Expo at World Market Center Las Vegas on September 13, 2024 in Las Vegas, Nevada.Justin Sullivan | Getty Images News | Getty ImagesWith Election Day...
Harris leads Trump in Iowa poll days before Election Day
Democratic presidential nominee and U.S. Vice President Kamala Harris speaks during a "When We Vote We Win" campaign rally at Craig Ranch Amphitheater on October 31, 2024 in North Las Vegas, Nevada. Ethan Miller | Getty ImagesKamala Harris leads Donald Trump in Iowa...
Harris defends CHIPS Act after Johnson suggests GOP would repeal it
Speaker of the House Mike Johnson and Vice President Kamala Harris stand in the House of Representatives ahead of US President Joe Biden's third State of the Union address to a joint session of Congress in the US Capitol in Washington, DC, USA, 07 March 2024. SHAWN...
The next president could inherit a booming economy
Republican presidential nominee and former U.S. President Donald Trump holds a campaign rally at Macomb Community College in Warren, Michigan, U.S., November 1, 2024 (L), and Democratic presidential nominee U.S. Vice President Kamala Harris speaks during a campaign...
Harris campaign expects Trump to declare victory before votes counted
Former US President Republican presidential candidate Donald Trump arrives, more than 3 hours late, to a campaign rally in Traverse City, Michigan on October 25, 2024. Jim Watson | Afp | Getty ImagesA senior official in the presidential campaign of Kamala Harris said...
Trump and Harris vie for the Latino vote on eve of election
This combination of photos shows Vice President Kamala Harris, left, on Aug. 7, 2024 and Republican presidential candidate former President Donald Trump on July 31, 2024.APFormer President Donald Trump and Vice President Kamala Harris campaigned around southwestern...
House Speaker Johnson says GOP may try to repeal CHIPS Act, then walks it back
U.S. Speaker of the House Mike Johnson (R) (R-LA) answers questions during a press conference with Republican leadership on Capitol Hill on September 18, 2024 in Washington, DC. Win McNamee | Getty ImagesHouse Speaker Mike Johnson said Friday that Republicans...
Elon Musk $1 million voter lottery suit sent back to state court
Tesla CEO and X owner Elon Musk, who supports Republican presidential nominee former U.S. President Donald Trump, gestures as he speaks about voting during an America PAC Town Hall in Folsom, Pennsylvania, U.S., October 17, 2024.Rachel Wisniewski | ReutersA federal...
Trump targets Washington Post, CBS over Harris decisions
The Washington Post office in Washington, DC, US, on Thursday, June 27, 2024. Ting Shen | Bloomberg | Getty ImagesDays before the presidential election, Donald Trump and his campaign have launched legal actions against two major media outlets, claiming that they are...
What a potential Harris administration could actually do to protect abortion access
Democratic presidential nominee, U.S. Vice President Kamala Harris, speaks during a campaign rally at Shell Energy Stadium on October 25, 2024 in Houston, Texas. Justin Sullivan | Getty ImagesVice President Kamala Harris has made abortion a central issue in her bid...
Banks seek a ticket to RBI’s LRS server, BFSI News, ET BFSI
New Delhi : Banks have approached the Reserve Bank of India (RBI) seeking integration with its Centralised Information Management System (CIMS) platform, aiming for real-time verification of limit utilisation under the Liberal Remittance Scheme (LRS), said people...
RBI helps rupee outperform peers in month marred by US election anxiety, ET BFSI
The Indian rupee was little changed on Thursday, similar to most of this month during which the central bank's stranglehold on the currency helped it avoid the pressure on its Asian peers from the rising odds of Donald Trump winning the U.S. elections.The rupee was at...
Trump sues CBS over Kamala Harris interview
Republican presidential nominee and former U.S. President Donald Trump delivers remarks at Albuquerque International Sunport, in Albuquerque, New Mexico, U.S. October 31, 2024. Brendan McDermid | ReutersRepublican presidential candidate Donald Trump sued CBS on...
Trump Media shares halted again as DJT falls in volatile trading
Trump Media was halted twice Thursday morning as shares rapidly dropped at the start of another volatile trading session.DJT stock was down nearly 14% when it was halted due to volatility for the second time at 10:04 a.m. ET. The company, which is majority-owned by...
Elon Musk wants voter lottery lawsuit in federal court
SpaceX and Tesla founder Elon Musk speaks at a town hall with Republican candidate U.S. Senate Dave McCormick at the Roxain Theater on October 20, 2024 in Pittsburgh, Pennsylvania. Michael Swensen | Getty ImagesElon Musk and his political action committee are seeking...
RBI’s investment in gold rises faster than in securities, BFSI News, ET BFSI
The Reserve Bank of India's gold holdings have increased at double the pace of its investments in US treasuries this year reflecting the central bank's preference for safe haven assets at times of volatile global economic environment.While the value of gold has risen...
Elon Musk must attend voter lottery hearing in Philadelphia
Elon Musk wears a black "Make America Great Again" cap while attending a campaign rally with Republican presidential nominee and former President Donald Trump at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024.Anna Moneymaker | Getty...
Trump, GOP allies escalate election fraud conspiracies in Pennsylvania
Republican presidential nominee and former U.S. President Donald Trump looks on during a campaign event at the Drexelbrook Catering and Event Center, in Drexel Hill, Pennsylvania, U.S., October 29, 2024. Brendan Mcdermid | ReutersFormer President Donald Trump on...
Harris rejects Biden garbage comment on Trump supporters
Vice President Kamala Harris on Wednesday distanced herself from President Joe Biden's controversial comment that appeared to label supporters of Donald Trump as "garbage.""I strongly disagree with any criticism of people based on who they vote for," Harris told...
Trump Media plummets 22%, cutting into DJT rally days before election
Aytac Unal/ | Anadolu | Getty ImagesShares of Trump Media dropped more than 22% Wednesday, pouring cold water on a remarkable rally that added billions of dollars to former President Donald Trump's on-paper net worth in the run-up to the 2024 election.DJT stock, which...
RBI unlikely to go for immediate rate cut, inflation likely to cool: Ind-Ra, ET BFSI
In a cautious outlook for the upcoming fiscal year, India Ratings and Research (Ind-Ra) projects a decline in inflation for FY25, yet it emphasizes that immediate rate cuts from the Reserve Bank of India (RBI) are unlikely. According to Ind-Ra, the persistent pressure...
RBI’s investment in gold rises faster than in securities, BFSI News, ET BFSI
The Reserve Bank of India's gold holdings have increased at double the pace of its investments in US treasuries this year reflecting the central bank's preference for safe haven assets at times of volatile global economic environment.While the value of gold has risen...
U.S. election won’t be an ‘uneventful event’ for global markets, UBS chief says
Sergio Ermotti, chief executive officer of UBS GroupStefan Wermuth | Bloomberg | Getty ImagesThe outcome of upcoming elections in the world's leading economy is set to ripple into global markets no matter who clinches leadership of the White House, UBS head Sergio...
Trump judge Aileen Cannon denies recusal in assassination bid case
The Florida federal judge who dismissed the criminal classified documents case against former President Donald Trump on Tuesday rejected a request that she step off the case of a man charged with trying to assassinate Trump at his golf course in September.Judge Aileen...
Elon Musk, Trump allies say tariff plans could cause economic pain
Tesla and SpaceX CEO Elon Musk speaks at a rally for former US President and Republican presidential candidate Donald Trump at Madison Square Garden in New York, October 27, 2024. Angela Weiss | Afp | Getty ImagesTop allies and surrogates of former President Donald...
India’s external assets grew faster than liabilities: RBI report, ET BFSI
India's external assets grew faster than its liabilities between June 2023 and June 2024, according to the latest report from the Reserve Bank of India (RBI). The report, which provides details on India's International Investment Position (IIP) as of the end of June...
Canada alleges Indian minister Amit Shah behind plot to target Sikh separatists
Indian Prime Minister Narendra Modi (L) waves to supporters next to India's Home Minister Amit Shah after filing his nomination papers to recontest the parliamentary seat in Varanasi on May 14, 2024.Niharika Kulkarni | Afp | Getty ImagesThe Canadian government alleged...
Europe prepares for ‘America First’ push no matter who wins U.S. election
Former President Donald Trump and Vice President Kamala Harris are shown on screen during a debate watch party at the Cameo Art House Theatre in Fayetteville, North Carolina, on Sept. 10, 2024.Allison Joyce | Bloomberg | Getty ImagesEuropean politicians and...
EU slaps tariffs on Chinese EVs, risking Beijing payback
Employees work on the production line of new energy vehicles at Huaian BYD Industrial Co., Ltd. on August 26, 2024 in Huaian, Jiangsu Province of China. Zhao Qirui | VCG | Visual China Group | Getty ImagesThe European Union has decided to increase tariffs on...
Trump Media shares halted repeatedly as DJT turns negative in volatile trading
Omar Marques | Lightrocket | Getty ImagesTrading of Trump Media shares was halted for volatility multiple times Tuesday morning as the company majority-owned by Donald Trump ricocheted in early trading.The company, which trades as DJT on the Nasdaq, was halted for...
RBI’s Neutral Monetary Policy Stance vs Inflation Horse, BFSI News, ET BFSI
The higher-than-expected September inflation further strengthens the case that the RBI will need to remain vigilant.The MPC on 9th October 2024 adopts a "neutral" stance in its monetary policy which typically means that the central bank is neither actively tightening...
DNC buys ads in nail salons, malls in final Trump-Harris election push
Democratic presidential nominee and U.S. Vice President Kamala Harris takes the stage on Day 4 of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, U.S., August 22, 2024. Kevin Lamarque | ReutersThe personal is getting political.One...
46 million early votes cast so far in 2024
Local residents line up to enter a polling site on the first day of early in-person voting in a region still severely impacted by the storm, in Asheville, North Carolina, U.S. October 17, 2024. Jonathan Drake | ReutersMore than 46 million Americans have cast their...
Harris’ closing argument speech will reject Trump-era politics
Vice President Kamala Harris will make her closing argument to voters Tuesday evening at a Washington rally that is expected to draw as many as 20,000 supporters to the National Mall. Harris will speak on the Ellipse lawn, framed by a view of the White House, where...
Washington Post loses digital subscriptions over endorsement
The Washington Post Building at One Franklin Square Building on June 5, 2024 in Washington, DC. Andrew Harnik | Getty ImagesThe Washington Post reportedly has lost more than 200,000 digital subscriptions, and three members of its editorial board have stepped down on...
RBI fixes Rs 300 cr net worth criteria for entities applying for central counterparty, ET BFSI
Mumbai: The Reserve Bank on Monday said an entity seeking authorisation or recognition as a Central Counterparty (CCP) should have a minimum networth of Rs 300 crore at the time of submitting its application. CCP means a system provider by way of novation interposes...
US poll jitters, RBI governor talk push up 10-year yields, ET BFSI
Mumbai: Yields on the 10-year benchmark government security climbed three basis points since its previous close, on the back of rising US treasury yields, ahead of presidential elections in the world's largest economy, bond dealers said.Yields on the 10-year benchmark...
Washington Post owner Jeff Bezos defends lack of endorsement
Amazon founder Jeff Bezos arrives for his meeting with British Prime Minister Boris Johnson at the UK diplomatic residence in New York City, Sept. 20, 2021.Michael M. Santiago | Getty Images News | Getty ImagesWashington Post owner Jeff Bezos on Monday defended his...
Trump Media soars after Madison Square Garden rally
Republican presidential nominee and former President Donald Trump holds a rally at Madison Square Garden in New York on Oct. 27, 2024.The Washington Post | The Washington Post | Getty ImagesShares of Donald Trump's social media company rocketed up more than 20%...
Harris response to Tony Hinchcliffe Puerto Rico joke at Trump rally
Democratic presidential nominee U.S. Vice President Kamala Harris speaks to the media before boarding Air Force Two to depart for Michigan, at Joint Base Andrews, Maryland, U.S. October 28, 2024. Evelyn Hockstein | ReutersVice President Kamala Harris on Monday...
Harris touts manufacturing plan in Michigan as Trump leads on economy
Democratic presidential nominee U.S. Vice President Kamala Harris attends a campaign event at Wings Event Center in Kalamazoo, Michigan, October 26, 2024. Evelyn Hockstein | ReutersVice President Kamala Harris is planning to put manufacturing at the center of her...
Philadelphia DA sues Elon Musk PAC to stop $1 million lottery for voters
Tesla and SpaceX CEO Elon Musk speaks during a town hall event hosted by America PAC in support of former US President and Republican presidential candidate Donald Trump at the Greater Philadelphia Expo Center in Oaks, Pennsylvania, on October 18, 2024. Ryan Collerd |...
RBI’s rule to push reorganisation of lending business of bank groups, ET BFSI
The Reserve Bank of India’s (RBI) has recently released the draft guidelines on amending the regulatory framework for banks to undertake various permissible forms of business. The draft guidelines highlighted that there should be no overlap in lending businesses...
Fall in call market volumes makes transmission of repo rate tricky, ET BFSI
Mumbai: When it comes to rate transmission, a challenge that the Reserve Bank of India (RBI) is faced with is the visible clout of various money market segments at the cost of the interbank call money market, which is the official platform through which the central...
Biggest potential for CBDC will be cross-border money transfer, ET BFSI
Kolkata: India's central bank governor Shaktikanta Das has backed the role of legal digital currencies in fostering trade beyond national frontiers, underscoring how such monetary units limit the scope for intermediaries and help reduce transaction costs linked to the...
Trump headlines Madison Square Garden rally after vulgar, racist remarks from allies
Republican presidential nominee and former U.S. President Donald Trump speaks during a rally at Madison Square Garden, in New York, U.S., October 27, 2024. Andrew Kelly | ReutersRepublican presidential candidate Donald Trump headlined a rally at New...
RBI’s rosy growth forecast baffles economists, ET BFSI
The Reserve Bank of India’s upbeat growth estimates for the world’s fastest-growing major economy is causing both confusion and concern among economists.The central bank has stuck to its forecast that India’s economy will expand 7.2% in the year ending March 2025...
No interest in a White House cabinet position
Entrepreneur Mark Cuban speaks at a campaign event for US Vice President Democratic presidential nominee Kamala Harris at University Wisconsin-La Crosse in La Crosse, Wisconsin, on October 17, 2024.Craig Lassig | Afp | Getty ImagesBillionaire investor Mark Cuban said...
Harris and Walz to visit battleground states this week
Democratic presidential candidate US Vice President Kamala Harris and her running mate, Governor Tim Walz,enjoy music by members of the marching band at Liberty County High School in Hinesville, Georgia, August 28, 2024, as they travel across Georgia for a 2-day...
Shaktikanta Das reeives award for A+ grade in Central Bank Report Cards 2024 in USA, ET BFSI
New Delhi [India], October 27 (ANI): Shaktikanta Das, the Governor of Reserve Bank of India (RBI), on October 26, received award for A+ grade in Central Bank Report Cards 2024, for the second consecutive year.The award, presented by Global Finance in Washington D.C.,...
Trump ally Elon Musk was ‘illegal worker’ when he began U.S. career
President Joe Biden called out Tesla and SpaceX CEO Elon Musk, now a Republican megadonor and Trump campaign surrogate, for hypocrisy on immigration on Saturday, saying Musk launched his long career in the U.S. as an "illegal worker" before becoming the world's...
Trump in Joe Rogan interview says he’d replace income tax with tariffs
Former President Donald Trump stood by his idea to end income taxes and substitute them with tariffs in a Friday interview with Joe Rogan, the host of one of the most widely listened to podcasts in the world."Did you just float out the idea of getting rid of income...
Elon Musk and Putin talks ramped up during Twitter takeover: WSJ
Tesla and SpaceX CEO Elon Musk has engaged in secret talks with Russian President Vladimir Putin since late 2022, according to reporting published Thursday by The Wall Street Journal.Citing "several current and former U.S., European and Russian officials," the Journal...
RBI revokes authorisation certificate of UAE Exchange Centre, BFSI News, ET BFSI
The Reserve Bank has revoked the certificate of authorisation of UAE Exchange Centre LLC for non-compliance with regulatory requirements and now it cannot transact the business of cross border in-bound money transfer. UAE Exchange Centre LLC (UAEEC), with registered...
RBI’s playing aggressively in currency market in FY25, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India's (RBI) gross currency market interventions until August in FY25 have registered a sharp increase from a year ago, reflecting the central bank's efforts to mitigate volatility in the exchange rate in a turbulent global economic...
Israeli military launches strikes on military targets in Iran, officials say
Israel launched airstrikes early Saturday on what it described as military targets in Iran in retaliation for a ballistic missile assault Oct. 1, officials said. There was no immediate information on damage in the Islamic Republic.The attack, threatened for weeks by...
Abercrombie ex-CEO Mike Jeffries to plead not guilty to sex crimes
Michael Jeffries, former CEO of Abercrombie & Fitch, leaves following a hearing at the Paul G. Rogers Federal Building and U.S. Courthouse, in West Palm Beach, Florida, on Oct. 22, 2024.Rebecca Blackwell | APFormer Abercrombie & Fitch CEO Mike Jeffries and his...
Jeff Bezos killed Washington Post endorsement of Kamala Harris
The Washington Post Building at One Franklin Square Building on June 5, 2024 in Washington, DC. Andrew Harnik | Getty ImagesThe Washington Post said Friday that it will not endorse a candidate in the presidential election this year, breaking decades of tradition, and...
Virginia blocked from voter purging of noncitizens
Voters wanting to cast an early vote line up outside the Elena Bozeman Government Center for a polling station to open in Arlington, Virginia, on September 20, 2024. - | Afp | Getty ImagesA federal judge on Friday blocked Virginia from purging its voter rolls of...
Biden student debt plan creates financial disaster loan cancellation
US President Joe Biden gestures after speaking about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024.Andrew Caballero-Reynolds | AFP | Getty ImagesThe Biden administration introduced a new proposal Friday to deliver...
Mudra loan limit doubled to Rs 20 lakh in line with Budget announcement, ET BFSI
New Delhi [India], October 25 (ANI): As announced in the Union Budget for 2024-25 in July, the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from the current Rs 10 lakh to Rs 20 lakh. The government has to this effect put out an...
Party over? Banks and NBFCs curb growth in unsecured loans after RBI action, ET BFSI
Several banks and non-banking finance companies (NBFCs), including Axis Bank, Kotak Mahindra Bank, Bajaj Finance, and Piramal Enterprises, are adopting a cautious approach to growing unsecured loan segments, such as microfinance, personal loans, and credit cards after...
French trader bet $28 million on Trump with 4 Polymarket accounts
Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign event at the Erie Insurance Arena in Erie, Pennsylvania, on October 14, 2024. Dustin Franz | Afp | Getty ImagesA stark shift toward Donald Trump on the political gambling platform...
RBI governor, members stay cautious on inflation, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, has said the need for a cautious approach to interest rate cuts, warning that India cannot afford another surge in inflation.In the minutes of the October Monetary Policy Committee (MPC) meeting, Das...
FM Nirmala Sitharaman engages with bank-fund staff India club members at Washington DC event, ET BFSI
New Delhi [India], October 24 (ANI): Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, engaged with members and families of the Bank-Fund Staff India Club during an interaction held on the sidelines of the Annual Meetings of the World Bank and IMF....
SBI Ecowrap report, BFSI News, ET BFSI
New Delhi [India], October 24 (ANI): A recent report by SBI Ecowrap report on the minutes of MPC meetings indicates dichotomy of views. It says MPC members have approached voting from different vantage points. Over a period of last few policies voting records of...
Elon Musk PAC gets DOJ warning $1 million contest may be illegal
Elon Musk wears a black "Make America Great Again" cap while attending a campaign rally with Republican presidential nominee and former President Donald Trump at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024.Anna Moneymaker | Getty...
Nobel Prize-winning economists slam Trump agenda, endorse Harris
Former President Donald Trump, left, and Vice President Kamala HarrisReutersTwenty-three Nobel Prize-winning economists endorsed Vice President Kamala Harris over former President Donald Trump in a joint letter released Wednesday.The nearly two dozen economists said...
Harris blasts Trump on Hitler comments
Republican presidential nominee and former U.S. President Donald Trump reacts during a rally in Greensboro, North Carolina, U.S. October 22, 2024.Carlos Barria | ReutersVice President Kamala Harris on Wednesday blasted Donald Trump for his reported praise of Adolf...
Chinese influence operation targets down ballot races, Microsoft says
Voters enter a polling location to cast their ballots in the state's primary on March 5, 2024 in Oxford, Alabama. 15 States and one U.S.Elijah Nouvelage | Getty ImagesAn army of Chinese-controlled social media bots is attempting to influence voters in Alabama, Texas...
RBI deputy governor, BFSI News, ET BFSI
New York, India's GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said Reserve Bank of India deputy governor Michael Debabrata...
Rudy Giuliani must give apartment, Mercedes, watches to defamation victims
Rudy Giuliani, the former personal lawyer for former U.S. President Donald Trump, speaks to the press as he leaves the E. Barrett Prettyman U.S. District Courthouse on December 11, 2023 in Washington, DC.Drew Angerer | Getty ImagesFormer Donald Trump attorney Rudy...
RBI’s platform bridges India’s $600 billion gap for smaller firms, ET BFSI
In the past two years, Indian engineering firm BTL EPC Ltd has seen revenues double and profit margins expand which Managing Director Ravi Todi says is due to a central bank-backed electronic platform that helps small businesses gain quicker and cheaper access to...
RBI move to slow down gold loan growth, lead to uptick in delinquencies: Crisil, ET BFSI
Mumbai: The Reserve Bank's recent notification asking financiers to review their gold loan practices can slow down loan growth in the near-term and lead to an uptick in asset quality stress, a domestic rating agency said on Tuesday. "Potentially, this could impact...
Trump campaign accuses UK’s Labour Party of election ‘interference’
Republican presidential candidate Donald Trump dances for his supporters following a rally at East Carolina University on October 21, 2024 in Greenville, N.C. Ricky Carioti | The Washington Post | Getty ImagesDonald Trump's campaign has accused British Prime Minister...
Former Abercrombie CEO Mike Jeffries arrested in sex trafficking case
File: Mike Jeffries, then Abercrombie & Fitch CEO in 2005.Michael Loccisano | FilmMagic | Getty ImagesFormer Abercrombie & Fitch CEO Mike Jeffries was arrested in Florida and faces sex trafficking-related charges, a spokesman for federal prosecutors in...
RBI issues alert list of unauthorised Forex trading platforms, ET BFSI
The Reserve Bank of India (RBI) on Tuesday issued an updated alert list featuring additional unauthorised forex trading platforms that are in violation of RBI regulations.The Alert List contains names of entities which are neither authorised to deal in forex under the...
Young voters Harris support grows, CNBC Generation Lab survey finds
Democratic presidential nominee Vice President Kamala Harris speaks with members of the press on board Air Force Two at Philadelphia International Airport, Monday, Oct. 21, 2024, in Philadelphia, before departing to Michigan. Jacquelyn Martin | Via ReutersExactly two...
RBI expands its “Alert List” of forex trading platforms, adds 13 new names, ET BFSI
The Reserve Bank of India has added as many as 13 new names to its "Alert List" of unauthorised forex trading platforms, news agency PTI reported on October 22.Following this update, the total number of entities on the list now stands at 88.The latest additions...
Trump tax plans could exempt 93 million Americans from income taxes
Former President Donald Trump's tax reform ideas could offer total or partial income tax exemptions to roughly 93.2 million Americans, a meaningful chunk of the U.S. electorate, according to CNBC's analysis of several estimates.As part of his economic pitch to voters,...
Amitabh Kant, BFSI News, ET BFSI
Amitabh Kant, India's G20 Sherpa on Tuesday highlighted the country's remarkable economic progress, stating that India will surpass Japan and Germany to become the world's third-largest economy within 2-2.5 years. He added that previously considered one of the...
Harris, Cheney bash Trump, vie for Republican crossover votes
Vice President and Democratic presidential candidate Kamala Harris (L) holds a moderated conversation with Former US Rep. Liz Cheney, Republican of Wyoming, at People's Light performing arts theater Malvern, Pennsylvania, on October 21, 2024. Brendan Smialowski | Afp...
Elon Musk, Tesla sued for Blade Runner AI robotaxi ripoff
A still from Warner Bros. Discovery Blade Runner 2049 trailer.Source: Warner Bros. PicturesElon Musk, his car company Tesla and Warner Brothers Discovery were sued Monday over their alleged artificial intelligence-fueled copyright infringement of images from the film...
Trump plan would hasten Social Security insolvency: Budget group
Former President Donald Trump's campaign plans would significantly accelerate the already-fast-approaching date when Social Security is projected to run out of money, a nonpartisan budget group said Monday.Trump's agenda would make the popular government program,...
Biden student loan payment pause extended for SAVE borrowers
U.S. President Joe Biden speaks as he announces a new plan for federal student loan relief during a visit to Madison Area Technical College Truax Campus, in Madison, Wisconsin, U.S, April 8, 2024.Kevin Lamarque | ReutersFederal student loan payments for some 8 million...
Supreme Court rebuffs challenge to job protections for consumer watchdog leaders
The Supreme Court is visible on July 29, 2024 in Washington, DC. In an op-ed in The Washington Post, U.S. President Joe Biden laid out his proposed reforms to the Supreme Court including 18 year term limits for Supreme Court Justices and a new code of ethics for the...
Election is Harris vs. Musk, not Trump, Cuban says
Vice President Kamala Harris is campaigning for president against Elon Musk at least as much as she is against former President Donald Trump, Mark Cuban said Monday, as he advocated for the Democratic nominee as the pro-business choice."It's the Harris campaign versus...
Trump sued by Central Park Five for defamation over Harris debate claims
Republican presidential nominee, former U.S. President Donald Trump delivers remarks during a campaign rally at the Cobb Energy Performing Arts Centre on October 15, 2024 in Atlanta, Georgia. Kevin Dietsch | Getty Images News | Getty ImagesFive men who were wrongfully...
Trump works McDonald’s drive-thru, Harris campaign scoffs at stunt
Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024.Doug Mills | Via ReutersWithin minutes of former President Donald Trump's brief...
Fethullah Gulen, cleric accused of orchestrating a Turkish coup, dies
An undated capture taken from a video shows Fetullah Gulen, leader of a group that the Turkish government alleges was behind the defeated 2016 coup in Turkiye and has designated the Fetullah Terrorist Organization's (FETO),. Social media accounts associated with the...
5 things to know before the stock market opens Monday October 21
Here are the most important news items that investors need to start their trading day:1. Can stocks keep rising?U.S. stocks have carved out a winning streak. The S&P 500 and Dow Jones Industrial Average have posted six straight positive weeks. Both indexes closed...
Trump doubles down on tariff plan that voters hate
Republican presidential nominee and former U.S. President Donald Trump speaks as he visits a campaign office in Hamtramck, Michigan, U.S. October 18, 2024. Brian Snyder | ReutersA majority of voters are less likely to support a candidate who promotes universal...
Musk promises to award $1 million each day to a signer of his petition
SpaceX and Tesla founder Elon Musk participates in a town hall-style meeting to promote early and absentee voting at Ridley High School on October 17, 2024 in Folsom, Pennsylvania. Anna Moneymaker | Getty ImagesBillionaire Elon Musk promised on Saturday to give away...
Israel pounds Beirut and Gaza after rockets hit Israel’s north
A view of damaged buildings following Israeli attacks on Laylaki and Haret Hireyk neighborhood of Dahieh region in Beirut, Lebanon on October 1, 2024. Houssam Shbaro | Anadolu | Getty ImagesIsrael struck what it said were Hezbollah arms facilities in southern Beirut...
Trump seethes as Mark Cuban campaigns for Harris
Donald Trump and Mark CubanLucas Jackson | Reuters; Getty ImagesFormer President Donald Trump on Saturday railed against fellow billionaire Mark Cuban, who has been vigorously campaigning for his Democratic opponent, Vice President Kamala Harris."Mark Cuban is a...
Drone targets Israeli prime minister’s house as strikes in Gaza kill 50
Israel's Prime Minister Benjamin Netanyahu addresses the 79th United Nations General Assembly at U.N. headquarters in New York, U.S., September 27, 2024. Mike Segar | ReutersThe Israeli government said a drone was launched toward the prime minister's house Saturday,...
Pro-Trump group funded by Musk struggles with outreach targets
The political action committee funded by billionaire Elon Musk to help re-elect former U.S. President Donald Trump is struggling in some swing states to meet doorknocking goals and is investigating claims that some canvassers lied about the number of voters they have...
Iran’s supreme leader says Hamas leader’s death will not halt ‘Axis of Resistance’
Iran's Supreme Leader Ayatollah Ali Khamenei speaks during a meeting in Tehran, Iran, September 25, 2024. Office of the Iranian Supreme Leader | ReutersIran's Supreme Leader Ayatollah Ali Khamenei said on Saturday the death of Hamas leader Yahya Sinwar will not halt...
RBI lifts restrictions on JM Financial, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has lifted restrictions placed on JM Financial Products Ltd, the company said in a stock exchange filing late on Friday."With this communication, the company is permitted to provide, with immediate effect, the financing against shares...
Trump refuses to show health records, Harris questions his fitness
Republican presidential nominee, former U.S. President Donald Trump, addresses the media as he arrives at Detroit Metropolitan Wayne County Airport on October 18, 2024, in Detroit, Michigan. Win Mcnamee | Getty ImagesDonald Trump on Friday dismissed more questions...
Governor Shaktikanta Das on action against financial market, ET BFSI
Reserve Bank of India governor Shaktikanta Das on Friday said that the central bank doesn't act as a policeman but keeps a close watch on the financial market, taking regulatory action when needed."No, we are not policemen. We are watching very closely. We keep vigil...
Trump calls election case Judge Chuktan evil
Courtroom sketch depicting Judge Tanya Chutkan in an exchange with Donald Trump's lawyers. Donald Trump on Friday called the judge presiding over his criminal election interference case in Washington, D.C., "the most evil person" for ordering the release of nearly...
Minimum wage ballot measures in Arizona, California, Alaska, Missouri
A Feb. 18 rally celebrating the California Labor Commissioner’s order for a McDonald's franchise to rehire and compensate workers who went on strike for coronavirus protections was held on Feb. 18, 2021.Lucy Nicholson | ReutersThis November, voters in at least three...
