Politics
5 things to know before the stock market opens Monday, June 10
Here are five key things investors need to know to start the trading day:1. Nvidia splitsStock futures slipped Monday morning after polishing off a winning week on Friday. Dow Jones Industrial Average futures fell by about 0.2%, while S&P 500 futures and Nasdaq...
Hunter Biden gun trial live updates
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden arrive at the federal court for his trial on criminal gun charges, in Wilmington, Delaware, U.S., June 10, 2024. Hannah Beier | ReutersThis is developing news and will be updated...
Israel between far-right coalition and Gaza cease-fire
Benny Gantz, a member of the country's wartime cabinet, departs after announcing his resignation during a press conference on June 9, 2024.Amir Levy | Getty Images News | Getty ImagesIsrael's war cabinet minister Benny Gantz resigned from the emergency government,...
France’s Macron calls election his far-right rival Le Pen could win
French President Emmanuel Macron.Chesnot | Getty Images News | Getty ImagesFrench President Emmanuel Macron's decision to call a snap national election after a surge for his far-right rivals is a high-stakes move and a huge political gamble, analysts say.Macron's...
US Fed’s ‘dot plot’ could offer glimpse of rate-cut resolve, ET BFSI
Investors may glean more on the Federal Reserve's resolve to ease monetary policy when US policymakers update their forecasts for interest rates Wednesday for the first time in three months.The central bank - led by Chair Jerome Powell - is widely expected to hold...
France’s Macron calls for snap election after losing big to the far right in EU vote
French President Emmanuel Macron speaks during a meeting with members of the AI sector at the Elysee Presidential Palace in Paris, France, on May 21, 2024.Yoan Valat | Afp | Getty ImagesFrench President Emmanuel Macron on Sunday said he would dissolve the country's...
South Dakota Gov. Kristi Noem says Trump choosing a woman VP would help him win
South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Shannon Stapleton | ReutersSouth Dakota Gov. Kristi Noem, once a strong contender to be former...
Israel’s Benny Gantz resigns over lack of plan for postwar Gaza
Israeli war cabinet member Benny Gantz arrives at the US State Department ahead of a meeting with US Secretary of State Antony Blinken on March 5, 2024 in Washington DC.Drew Angerer | AFP | Getty ImagesBenny Gantz, a centrist member of Israel's three-man war Cabinet,...
Ukraine says it hit latest-generation Russian fighter jet for first time
The Sukhoi Su-57 jet fighter at the MAKS-2019 Moscow International Airshow near Zhukovsky, southeast of Moscow.Sopa Images | Lightrocket | Getty ImagesUkrainian forces have for the first time hit a latest-generation Russian Sukhoi Su-57 fighter jet at an air base...
RBI sets up panel to track online payment frauds; AP Hota to head committee, ET BFSI
The Reserve Bank of India (RBI) has set up a committee with industry participation to help build a digital public infrastructure platform specialised to tackle the issue of frauds, two people in the know told ET.The committee will also suggest means through which the...
Trump claims credit for Biden’s insulin price cap
President Joe Biden and former President Donald Trump 2024.Kevin Lamarque | Jay Paul | ReutersFormer President Donald Trump on Saturday recognized that the price of insulin is lower under President Joe Biden, but he still wants voters to credit his own...
DOJ settles CityMD Covid fraud allegations for $12 million
People wait in in a queue to enter CityMD, a health clinic that offers coronavirus disease (COVID-19) testing, on the Upper West Side as the Omicron coronavirus variant continues to spread in Manhattan, New York City, U.S., December 19, 2021.Andrew Kelly |...
Biden, Macron to discuss Israel and Ukraine in pomp-filled state visit
French President Emmanuel Macron and U.S. President Joe Biden stand together onstage during an official State Arrival Ceremony for President Macron on the South Lawn of the White House in Washington, U.S., December 1, 2022. Elizabeth Frantz | ReutersFresh from...
Bankers, BFSI News, ET BFSI
~Shrishti SharmaThe Monetary Policy Committee (MPC) has once again maintained its ‘withdrawal of accommodation’ stance in its bi-monthly policy decisions, keeping the repo rate unchanged for the 8th consecutive time at 6.5%. This decision aims to balance inflation and...
Will home loans become cheap after RBI MPC’s rate pause? Experts answer, ET BFSI
Will home loans become cheap after RBI MPC’s rate pause? Experts answer Announcing the deliberations of the second Monetary Policy Committee (MPC) for the Financial Year 2025, the Reserve Bank of India (RBI) Governor said the committee kept the rate unchanged at 6.5%....
IRS employee charged in Exxon Mobil tax credit theft bid
Chip Somodevilla | Getty Images News | Getty ImagesA former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to.Prosecutors said...
Beyoncé tickets, book advances, Bali trip in Supreme Court financial disclosures
Justice Ketanji Brown Jackson (L) and Beyonce (R)Getty ImagesSupreme Court Justice Ketanji Brown Jackson disclosed receiving concert tickets from pop superstar Beyoncé Knowles-Carter, one of several notable items revealed Friday in the high court's latest financial...
Former Trump chief of staff Mark Meadows pleads not guilty in Arizona’s fake elector case
White House Chief of Staff Mark Meadows speaks to reporters following a television interview, outside the White House in Washington, U.S. October 21, 2020.Alexander Drago | ReutersFormer Donald Trump presidential chief of staff Mark Meadows and Trump 2020 Election Day...
Biden cheers May jobs report, slams Congressional GOP economic plan
US President Joe Biden speaks about the economy at the International Brotherhood of Electrical Workers Local 26 union, in Lanham, Maryland, on February 15, 2023.Mandel Ngan | Afp | Getty ImagesPresident Joe Biden touted the far better-than-expected May jobs report,...
Hunter Biden trial: Prosecution rests
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden, arrive at the federal court for his trial on criminal gun charges in Wilmington, Delaware, U.S., June 7, 2024. Hannah Beier | ReutersProsecutors rested their case Friday in the federal...
Trump disrespected Black people on ‘The Apprentice’
Republican presidential candidate and former U.S. President Donald Trump attends a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016,...
Policy shifts following elections and new administration pose risks: Moody’s, ET BFSI
Emerging market (EM) sovereigns are navigating recovery from the dual shocks of Covid-19 and the Russia-Ukraine war, leading to stabilizing debt levels and easing financial conditions.However, potential policy shifts following elections and new administration...
Repo rate unchanged at 6.5%, GDP forecast raised to 7.2%, ET BFSI
RBI MPC Meet 2024: Governor announces repo rate unchanged at 6.5%The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Friday decided to keep policy rate unchanged for the eighth time in a row by 4:2 majority.While announcing the decision, the governor...
RBI rectifies reporting errors in banks’ CRR maintenance data, ET BFSI
Mumbai: After several instances in which average fortnightly cash balances of banks kept with the Reserve Bank of India (RBI) unusually fell short of the mandated cash reserve requirement, the central bank has rectified the matter by resolving issues with how the data...
Fed to unveil 2024 bank stress test results on June 26, ET BFSI
WASHINGTON, - The Federal Reserve will release the 2024 results of its annual stress test of large bank finances on June 26, the central bank announced on Thursday.This year's exercise will examine 32 banks with over $100 billion in assets, and see how they would...
Supreme Court Justice Clarence Thomas got millions in gifts
(L-R) U.S. Supreme Court Chief Justices Clarence Thomas, Ruth Bader Ginsburg, Stephen Breyer, and Samuel Alito attend Judge Neil Gorsuch's judicial oath ceremony in the Rose Garden at the White House April 10, 2017 in Washington, DC.Chip Somodevilla | Getty Images...
Growth Up, Rates Steady, Innovation Ahead, ET BFSI
In a comprehensive address on June 7, RBI Governor Shaktikanta Das unveiled the outcomes of the latest Monetary Policy Committee (MPC) meeting, covering a wide array of critical economic indicators and strategic measures. From raising the GDP growth forecast to 7.2%...
Kohl’s donation Trump Republican National Convention
A Kohl's department store sign hangs outside the building on March 12, 2024 in Miami, Florida. Shares of Kohl's fell as it posted a drop in same-store sales in the fourth quarter. Joe Raedle | Getty ImagesMilwaukee based department store giant Kohl's says it will not...
RBI remain in wait & watch mode, rate-cut expected in October: Economists, ET BFSI
RBI Governor Shaktikanta DasThe Reserve Bank of India on Friday decided to retain the repo rate at 6.5 per cent, thereby maintaining a pause on its rate-hike cycle for the eighth consecutive time.The MPC further decided by a majority of 4 out of 6 members to remain...
RBI proposes to include auto replenishment of FASTag, NCMC & UPI Lite balances in e-mandate framework, ET BFSI
The RBI Governor Shaktikanta Das on Friday announced the inclusion of auto replenishment facility of FASTag, NCMC and UPI Lite wallet balances in the e-mandate facility. The Central bank governor highlighted that the adoption of e-mandates for recurring payment...
Trump suggests tariffs against nations including China over illegal immigration
Presidential candidate Donald Trump was booed and heckled by many in a raucous audience at the Libertarian National Convention on Saturday night, a marked change from the adulation he receives at rallies from his fervently loyal supporters.Brendan McDermid |...
RBI announces HaRBInger 2024 with focus on Zero Financial Frauds, Being Divyang Friendly, ET BFSI
">CenBank has announced the third edition of its annual hackathon, "HaRBInger 2024 - Innovation for Transformation"In a move aimed at enhancing the safety, security, and inclusivity of India's financial ecosystem, the Reserve Bank of India (RBI) Governor...
Activists send balloons carrying K-pop and money into North Korea
A balloon believed to have been sent by North Korea, carrying various objects including what appeared to be trash and excrement, is seen over a rice field at Cheorwon, South Korea, May 29, 2024. Yonhap News Agency | ReutersThe battle of the balloons continues.North...
Bulk deposits limit to e-mandate framework, ET BFSI
RBI MPC’s key announcements: Bulk deposits limit to e-mandate framework While announcing the second Monetary Policy Committee (MPC) decision on Friday, the Reserve Bank of India (RBI) announced certain key additional measures. The (MPC) has decided to keep policy rate...
RBI sees FY25 GDP growth at 7.2% on above-normal monsoon, consumption uptick, ET BFSI
The Reserve Bank of India has predicted 72 per cent real GDP growth for for 2024-25 on above-normal monsoon, growing rural and urban consumption, uptick in services and the government's thrust on capex.It projected the Q1 growth at 7.3 per cent; Q2 at 7.2 per cent; Q3...
U.S. Indo Pacific economic engagement ‘isn’t about China,’ Raimondo says
America's economic engagement in Indo-Pacific "isn't about China" but for strengthening U.S. presence in the region, Commerce Secretary Gina Raimondo told CNBC. President Joe Biden launched the Indo-Pacific Economic Framework for Prosperity, involving14 countries,...
Dutch nationalist Wilders makes big gains at EU election, exit poll shows
Geert Wilders, Dutch right-wing politician and leader of the Party for Freedom (PVV).Carl Court | Getty Images News | Getty ImagesDutch nationalist Geert Wilders' anti-immigration party on Thursday was projected to have made large gains in the Netherlands' election...
Billionaire Frank McCourt’s TikTok bid backed by parents group
Frank McCourt, civic entrepreneur, executive chairman of McCourt Global and founder of Project Liberty, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. Andrew Kelly | ReutersIn the race to buy TikTok, billionaire...
Beau Biden widow Hallie Biden testifies
Hallie Biden (L), daughter in-law of U.S. President Joe Biden, arrives to the J. Caleb Boggs Federal Building for the trial of Hunter Biden on June 06, 2024 in Wilmington, Delaware.Kevin Dietsch | Getty Images News | Getty ImagesHallie Biden, the widow of President...
Ex-Trump aide Steve Bannon ordered to jail by July 1
Steve Bannon, former advisor to President Donald Trump, arrives at the federal courthouse to find out if or when a judge will order him to jail on June 6, 2024 in Washington, DC. Andrew Harnik | Getty ImagesA federal judge in Washington, D.C., on Thursday ordered...
Photos of D-Day’s 80th anniversary in Normandy, France
French troops disembark from a US landing craft during a joint US and French amphibious landing operation showcase, on June 4, 2024, at Omaha beach in Saint-Laurent-sur-Mer, northwestern France, ahead of the "D-Day" commemorations marking the 80th anniversary of the...
Trump in liberal San Francisco for high-dollar tech fundraiser
Republican presidential candidate Donald Trump will attend a fundraiser hosted by two tech venture capitalists in San Francisco on Thursday, a high-dollar event expected to draw Silicon Valley investors turned off by the Biden administration's policies.Venture...
Psychiatrist Henry Jarecki claims consensual relationship with victim
Henry Jarecki attends The Accompanied Literary Society's Summer Benefit at The Hudson Sky Terrace at The Hudson Hotel in New York City, June 11, 2007.David X Prutting | Patrick McMullan | Getty ImagesFamed psychiatrist and former commodities trader Henry Jarecki on...
Trump Georgia election case halted for challenge to DA
Source: Fulton County JailA Georgia appeals court on Wednesday halted the criminal election interference case against Donald Trump in the state pending the outcome of his bid to disqualify the district attorney prosecuting the former president.The order by the Georgia...
Experts bet on status quo, SBI Research predict rate cut in Q3FY25, ET BFSI
RBI MPC meet: Experts bet on status quo, SBI Research predict rate cut in Q3FY25The RBI is set to announce the decision of its Monetary Policy Committee (MPC) on Friday amid the raising concerns of economic slow down. Since the Lok Sabha Elections gave the outcome on...
McConnell suggests ‘discipline’ for Dem senators pressuring Supreme Court over Alito flags
Senate Minority Leader Mitch McConnell, R-Ky., speaks during a press conference following the weekly Senate caucus luncheons on Capitol Hill in Washington, April 9, 2024.Amanda Andrade-Rhoades | ReutersSenate Minority Leader Mitch McConnell, R-Ky., suggested Wednesday...
RBI penalties up 88% in 3 yrs; KYC, AML top list, BFSI News, ET BFSI
The number of penalties imposed by the Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Customer (KYC) and Anti Money Laundering (AML) topping the list of non-compliances.The central bank collected ₹78.6 crore over the...
RBI rate-setting panel starts deliberations on monetary policy, decision on Friday, ET BFSI
The rate-setting panel of RBI on Wednesday started its three-day deliberations to decide the next monetary policy amid expectations of continuation of the current interest rate. Reserve Bank Governor Shaktikanta Das will announce the decisions taken by the Monetary...
Modi’s election shortfall in India has Wall Street scrambling
Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersA stunning political setback for Indian Prime Minister Narendra Modi has business executives in the country furiously...
RBI MPC meets amid concerns of inflation, rate cut unlikely say economists, ET BFSI
Mumbai (Maharashtra) [India], June 5 (ANI): The Reserve Bank of India (RBI) is unlikely to reduce the benchmark interest rate in its monetary policy review meeting. The meeting, chaired by Reserve Bank Governor Shaktikanta Das, is underway in Mumbai.The decision of...
EU elections June 2024: Why it matters
Belgian Foreign minister Hadja Lahbib poses with a European flag in a mock polling station box to encourage people to vote in the upcoming European Elections.Laurie Dieffembacq | Afp | Getty ImagesThe political makeup of the European Union is about to change with...
RBI penalties up 88% in 3 yrs; KYC, AML top list, BFSI News, ET BFSI
The number of penalties imposed by the Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Customer (KYC) and Anti Money Laundering (AML) topping the list of non-compliances.The central bank collected ₹78.6 crore over the...
Trump fundraiser host accused of making racist remarks at work in lawsuit
Xtreme Manufacturing owner and Ahern Rentals CEO and Chairman Don Ahern speaks at a campaign event for President Donald Trump at Xtreme Manufacturing in Henderson, Nevada, Sept. 13, 2020.Ethan Miller | Getty ImagesFormer President Donald Trump will be hosted at a...
Donald Trump to speak at private CEOs meeting, weeks after conviction
Former US President and Republican presidential candidate Donald Trump points as he arrives back at Trump Tower after being convicted in his criminal trial in New York City, on May 30, 2024. Timothy A. Clary | AFP | Getty ImagesFormer President Donald Trump will...
FTC antitrust lawsuit against Southern Glazer’s coming
Lina Khan, chair of the Federal Trade Commission, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. Andrew Kelly | ReutersThe Federal Trade Commission is preparing an antitrust lawsuit against the largest U.S....
Trump wants gag order lifted in hush money case
Republican presidential candidate and former U.S. President Donald Trump attends a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016,...
U.S. appeals court rejects SEC oversight rule for private equity, hedge funds
The headquarters of the U.S. Securities and Exchange Commission in Washington, D.C.Andrew Kelly | ReutersA U.S. appeals court rejected a Securities and Exchange Commission rule intended to give investors more transparency into private funds, but which the nearly $27...
Raghuram Rajan on election results, says voters spoken, ET BFSI
Former RBI Governor Raghuram Rajan Speaking on the Lok Sabha Election Results, the former Governor of Reserve Bank of India (RBI), Raghuram Rajan, praised the ‘wise’ Indian voters for electing a strong Opposition.He further labelled the election results as a ‘win for...
RBI absorbs Rs 44,430 crore surplus liquidity ahead of its dividend spend by govt, ET BFSI
The Reserve Bank of India (RBI) absorbed surplus liquidity amounting to Rs 44,430 crore on Tuesday through two variable rate reverse repo (VRRR) auctions with a three-day tenor. This amount was deployed by banks, even though the central bank was prepared to absorb up...
Electoral shock dashes hopes of rate cut, BFSI News, ET BFSI
Mumbai: It is well known that food inflation has been a thorn in the Reserve Bank of India's (RBI) side for long, but the elections have thrown up a new reason for the central bank to keep rate cuts at bay for the foreseeable future - a potentially new fiscal...
SEBI constitutes committee to review ownership, economic structure of clearing corporations, ET BFSI
SEBI sets up committee to review ownership, economic structure of clearing corporationsFinancial market regulator SEBI has formed a committee to review the ownership and economic structure of clearing corporations and suggest measures to ensure that those entities...
SEBI launches SaaRs thi app to understand personal finance for investors, ET BFSI
The capital markets regulator, the Securities and Exchange Board of India (SEBI) has launched 'SaaRsthi' mobile app on personal finance for investors.This user-friendly app will help investors understand complex financial concepts in a simple way, the market regulator...
Indian central bank likely intervened in NDF to support rupee, traders say, ET BFSI
MUMBAI - The Indian central bank likely intervened in the non-deliverable forwards market to support the rupee on Wednesday, which has been under pressure post the unexpected election outcome, seven traders said.The rupee was last at 83.4475 to the U.S. dollar, up...
Biden speaks on new U.S.-Mexico immigration executive order
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to deliver remarks at the White House on Tuesday about his newly signed executive order tightening asylum restrictions at the...
Attorney General Merrick Garland fires back at House Republicans
U.S. Attorney General Merrick Garland testifies before the House Judiciary Committee in Washington, June 4, 2024.Anna Rose Layden | ReutersAttorney General Merrick Garland on Tuesday hit back at House Republicans threatening to hold him in contempt, calling their...
Biden immigration order labor markets and supply chains
President Joe Biden delivers remarks about immigration and border security on February 29, 2024 in Olmito, Texas. Cheney Orr | Getty ImagesPresident Joe Biden's new executive order tightening asylum limits at the U.S.-Mexico border could have the double-edged economic...
India’s Narendra Modi declares victory despite election blow
India's Prime Minister Narendra Modi (C) flashes victory sign as he arrives at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Arun Sankar | Afp | Getty ImagesIndian Prime Minister...
Trump campaign aide, lawyers charged in Wisconsin fake electors case
Kenneth Chesebro speaks to Fulton County Superior Court Judge Scott McAfee during a hearing where Chesebro accepted a plea deal from the Fulton County District Atorney at the Fulton County Courthouse October 20, 2023 in Atlanta, Georgia. Alyssa Pointer | Getty ImagesA...
U.S. appeals court blocks grant program for Black women-owned businesses
Attorney Ben Crump, Fearless Fund co-partners Arian Simone, Ayana Parsons, Lead counsel Mylan Denerstein and Co-Counsel Alphonso David pose for a picture at the end of a press conference in New York, U.S., August 10, 2023. Eduardo Munoz | ReutersVenture capital fund...
Policy continuity, reduction of rural economy distress & job creation boost if NDA comes to power: Economists, ET BFSI
Top BFSI economists believe that if the incumbents come into power for the third consecutive time, there will be continuity in policy and reforms, the government will focus and try to reduce distress in the rural economy and job creation will get a boost....
Kremlin denies Olympics disinformation campaign, calls Microsoft allegation slanderous
Kremlin spokesman Dmitry Peskov attends the 8th Russian-Chinese EXPO and the 4th Russian-Chinese Forum on Interregional Cooperation in Harbin, China, May 17, 2024. Sergei Bobylyov | Via ReutersThe Kremlin denied an allegation that it is waging a disinformation...
Trump campaign and RNC say they raised $141 million in May
Former U.S. President and Republican presidential candidate Donald Trump smiles during a campaign rally in Windham, New Hampshire, August 8, 2023.Reba Saldanha | ReutersFormer President Donald Trump's campaign and the Republican National Committee announced Monday...
Epoch Times CFO charged in alleged $67 million case
The chief financial officer of conservative global news outlet The Epoch Times has been arrested and charged with leading a yearslong scheme to launder at least $67 million in illicit funds, federal prosecutors said Monday.The scheme — which involved cryptocurrency,...
SEBI introduces ‘Saarthi 2.0’ app on personal finance for investors, ET BFSI
India's securities regulator, Stock Exchange Board of India (SEBI), has launched an upgraded version of its investors app. Called Saarthi 2.0, this app aims to be a one-stop shop for investors, providing them with the tools and information that they need to navigate...
Latest news on Russia and the war in Ukraine
House, school, hospital damaged in Dnipro strike, mayor saysSixteen high-rise buildings, 31 houses, a school and a hospital were among the buildings damaged in a Russian missile attack on the central Ukrainian city of Dnipro Tuesday morning, according to the city's...
RBI, payment industry meet discusses contours of new draft PA guidelines, ET BFSI
The digital payments industry has raised issues with the Reserve Bank of India’s draft guidelines for payment aggregators, including mandatory full KYC and stopping disbursal of funds directly to vendors, at a meeting with RBI officials a week ago.“We made a...
RBI to conduct buyback auction of government bonds worth Rs 30,000 crore, ET BFSI
The government has offered to repurchase Rs 30,000 crore worth of its securities through a buyback auction that will be conducted by the Reserve Bank of India on June 6.The RBI, which is the Centre’s debt manager, will carry out the auction in which banks and other...
Vote counting starts, Modi’s BJP projected to win
Bharatiya Janata Party supporters wearing a hat with Narendra Modi's face during a nomination filing rally by in Kolkata, India on May 10, 2024. Hindustan Times | Hindustan Times | Getty ImagesIndia started counting votes for its 2024 general election on Tuesday, with...
RBI likely to maintain repo rate at 6.5% amid persistent food inflation, ET BFSI
The Reserve Bank of India's Monetary Policy Committee (MPC) is likely to keep the repo rate steady at 6.5% during its meeting from June 5 to 7. Persistent food inflation continues to pose a significant threat to the inflation outlook, prompting expectations that the...
Modi’s BJP-led alliance set for narrower-than-expected win
India's Prime Minister Narendra Modi displays his inked marked finger after casting his ballot at a polling booth at Ranip, Ahmedabad on May 7, 2024. Sajjad Hussain | Afp | Getty ImagesThe Bharatiya Janata Party-led National Democratic Alliance was set to come to...
How RBI’s PRAVAAH portal makes life easier for NRIs, corporates, ET BFSI
The Reserve Bank of India (RBI) has introduced the PRAVAAH portal, a groundbreaking digital interface designed to streamline the process of obtaining approvals under the Foreign Exchange Management Act (FEMA). This initiative marks a significant shift from the...
Jeffrey Epstein accuser sues Henry Jarecki for rape, sex trafficking
Henry Jarecki, and Christine Corcoran attend the Annual Freedom Award Benefit Event hosted by International Rescue Committee on November 5, 2014 in New York City.Jemal Countess | Getty ImagesA woman who says she was sexually abused by Jeffrey Epstein filed a lawsuit...
Kremlin warns Washington of ‘fatal’ miscalculation to let Kyiv use U.S.-supplied weapons inside Russia
An employee of the Kharkiv prosecutor's office collects fragments of an aerial bomb for further analysis on April 30, 2024 in Kharkiv, Ukraine.Global Images Ukraine | Global Images Ukraine | Getty ImagesRussian Deputy Foreign Minister Sergei Ryabkov on Monday warned...
Brexit figurehead Nigel Farage to run in UK election after U-turn
Nigel Farage, leader of Reform UK, during a news conference in London, UK, on Monday, June 3, 2024.Bloomberg | Bloomberg | Getty ImagesLONDON — British politician and media personality Nigel Farage, best known for leading the Brexit campaign, announced Monday he would...
Hunter Biden gun trial jury selection begins, president defends son
Hunter Biden, son of U.S. President Joe Biden, arrives at the federal court with his wife Melissa Cohen Biden, on the opening day of his trial on criminal gun charges in Wilmington, Delaware, U.S., June 3, 2024. Kevin Lamarque | ReutersPresident Joe Biden expressed...
DC settles Bitcoin billionaire Michael Saylor case
Michael Saylor, executive chairman at MicroStrategy.Valerie Plesch | Bloomberg | Getty ImagesBillionaire bitcoin investor Michael Saylor and the company he founded, MicroStrategy, will pay $40 million to settle a tax fraud lawsuit brought by the Washington, D.C.,...
Democrats wanted an agreement on using artificial intelligence. It went nowhere
The Democratic National Committee was watching earlier this year as campaigns nationwide were experimenting with artificial intelligence. So the organization approached a handful of influential party campaign committees with a request: Sign onto guidelines that would...
RBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has reported that 97.82% of the Rs. 2000 denomination banknotes in circulation as of May 19, 2023, have been returned. This follows the RBI's announcement, detailed in a Press Release from May 19, 2023, about the withdrawal of these...
RBI to facilitate opening of rupee accounts abroad to boost global use of Indian currency, ET BFSI
The Reserve Bank of India (RBI) announced plans to allow rupee accounts to be opened outside the country this year, aiming to promote the international use of the Indian currency. This move will enable Indian banks to extend rupee-denominated loans to individuals...
‘No quid pro quo’ between Trump and oil execs, Gov. Burgum says
Kathryn Burgum aplauds as her husband Republican Governor of North Dakota Doug Burgum shakes hands with former US President and 2024 presidential hopeful Donald Trump during a Caucus Night watch party in Las Vegas, Nevada, on February 8, 2024. Patrick T. Fallon | AFP...
Prepare for bond sales, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) challenge for the rest of the year may not be inflation but liquidity. The resumption in government spending likely trimmed borrowing, and a surge in overseas fund flows could complicate the RBI's task of keeping its monetary policies...
Sebi’s rumour verification rule and its implications, BFSI News, ET BFSI
A new rule by the capital market regulator Securities and Exchange Board of India (Sebi) requires top listed companies to confirm, deny or clarify market rumours reported in mainstream media from June 1. Reena Zachariah looks at what it means for these...
Mexico elects Claudia Sheinbaum as first-ever female president
Presidential candidate Claudia Sheinbaum of ''Sigamos Haciendo Historia'' coalition waves to supporters during the 2024 closing campaign event at Zocalo on May 29, 2024 in Mexico City, Mexico.Hector Vivas | Getty Images News | Getty ImagesMexico's left-leaning climate...
RBI unlikely to cut interest rate on June 7, say experts, ET BFSI
Mumbai, Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy...
Trump campaign launches TikTok account as Truth Social stock dips
Republican presidential candidate and former U.S. President Donald Trump speaks during a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in...
RBI approves a Committee of Executives (CoE) in Tamilnad Mercantile Bank as an interim arrangement, ET BFSI
Kolkata: The Reserve Bank of India has approved the appointment of a Committee of Executives (CoE) in Tamilnad Mercantile Bank as an interim arrangement to oversee its operations and administration in the absence of a regular managing director.Current head of the bank...
Zelenskyy accuses China of helping Russia to disrupt peace summit
Ukraine's President Volodymyr Zelensky speaks during the 21st Shangri-La Dialogue summit at the Shangri-La Hotel in Singapore on June 2, 2024. Nhac Nguyen | Afp | Getty ImagesSINGAPORE — Ukrainian President Volodymyr Zelenskyy on Sunday accused China of helping Russia...
Ruling ANC loses majority in parliament
Voters during the South Africa General Elections on May 29, 2024 in Johannesburg, South Africa. Gallo Images | Gallo Images | Getty ImagesSouth Africa's governing African National Congress lost its parliamentary majority of 30 years, in the country's most sweeping...
China’s Dong Jun warns Taiwan separatist forces face ‘self-destruction’
China's Defense Minister Dong Jun speaks during the 21st Shangri-La Dialogue summit in Singapore on June 2, 2024.Nhac Nguyen | AFP | Getty ImagesSINGAPORE — China's defense minister, Adm. Dong Jun, vowed that anyone who aims to separate Taiwan from China will face...
Retired U.S. Navy admiral charged in bribery scheme with tech CEOs
Retired Navy Admiral Robert Burke.Courtesy: U.S. NavyA retired four-star U.S. Navy admiral, who was once the military branch's second-highest-ranking officer, was arrested on Friday for a bribery scheme with two tech CEOs, the Department of Justice announced.From 2020...
Modi’s BJP alliance set to win parliamentary majority
Indian Prime Minister Narendra Modi addresses a public meeting at Jerenga Pathar in the Sivasagar district of India's Assam state on Jan. 23, 2021.Biju Boro | AFP | Getty ImagesIndia's Prime Minister Narendra Modi looks set for a rare third consecutive term in power,...
Bill Ackman likely to back Donald Trump for president
Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations," in New York on Nov. 28, 2023.Jeenah Moon | Bloomberg | Getty ImagesHedge fund executive and billionaire Bill...
Trump slams trial as ‘rigged, disgraceful’ after he is found guilty on all counts
Former U.S. President Donald Trump arrives to court for his hush money trial at Manhattan Criminal Court in New York City on May 30, 2024.Justin Lane | Getty ImagesFormer President Donald Trump called his criminal hush money trial a "disgrace" on Thursday after a New...
Elon Musk’s X to livestream Trump town hall event
Kirill Kudryavtsev | AFP | Getty ImagesElon Musk's X will host a live town hall-style event with former President Donald Trump, the social media platform's owner and CEO confirmed Friday.The plan to spotlight the presumptive Republican presidential nominee on X was...
Trump classified documents judge is target of over 1,000 complaints
Aileen M. Cannon, United States District Judge, Southern District of FloridaCourtesy: US CourtsThe Florida federal judge overseeing the criminal classified documents case against former President Donald Trump has been the target of more than 1,000 complaints in just...
Dinesh D’Souza election fraud film ‘2000 Mules’ pulled after defamation suit
Dinesh D'Souza attends the DC premiere of his film, "Death of a Nation," at E Street Cinema on August 1, 2018 in Washington, DC. Shannon Finney | Getty ImagesWASHINGTON — The conservative gadfly Dinesh D'Souza's film and book "2000 Mules," which pushes false...
RBI warns ARCs against harassing distressed borrowers, BFSI News, ET BFSI
The RBI has told the top executives of Asset Reconstruction Companies (ARC) that they should not directly or through their recovery agents harass distressed borrowers while recovering overdue loans and play by the rule book. The issue was taken up by RBI Deputy...
Austin reaffirms U.S. commitment to Indo-Pacific region
US Secretary of Defence Lloyd Austin speaks at the 21st Shangri-La Dialogue summit in Singapore on June 1, 2024. Nhac Nguyen | Afp | Getty ImagesSINGAPORE — The United States remains vital to the future of the Indo-Pacific region, which is "more vital than ever" to...
How RBI is looking to curb payment frauds in FY25, BFSI News, ET BFSI
The Reserve Bank of India (RBI) will focus on a series of measures aimed at reducing payment frauds and enhancing the security of the financial ecosystem in FY25.One of the key measures is the expansion of the Central Payments Fraud Information Registry (CPFIR)...
How it could impact his White House bid vs. Biden
Donald Trump is now the first former American president ever to be convicted in a criminal trial — but it's far from clear whether that black mark will sink, or even weigh down, his bid to unseat President Joe Biden.Recent polls suggest that the guilty verdict could...
Biden, Democrats react to Trump guilty verdict
The Biden campaign wasted no time slamming former President Donald Trump and making a plea for campaign donations, minutes after the guilty verdict in Trump's New York hush money trial."In New York today, we saw that no one is above the law," Biden campaign spokesman...
Biden condemns Trump response to hush money verdict
U.S. President Joe Biden delivers remarks on the Middle East in the State Dining room at the White House in Washington, U.S., May 31, 2024. Evelyn Hockstein | ReutersPresident Joe Biden on Friday called former President Donald Trump's reaction to his conviction in New...
Trump donations crash website after conviction on 34 felony counts
Now that his criminal trial in New York has wrapped up with a guilty verdict, former President Donald Trump is plowing ahead with a packed schedule of fundraising events that will likely raise millions of dollars for his presidential campaign.The donations started...
Trump slams guilty verdict at press conference
Republican presidential candidate and former U.S. President Donald Trump speaks during a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in...
Philippine president talks red lines in South China Sea
Philippines' President Ferdinand Marcos Jr. delivers a speech during the 21st Shangri-La Dialogue summit in Singapore on May 31, 2024.Nhac Nguyen | Afp | Getty ImagesShould a Filipino citizen be killed in the South China Sea via an incident with the Chinese Coast...
Trump press conference on guilty verdict at 11 a.m.
[The stream is slated to start at 11 a.m ET. Please refresh the page if you do not see a player above at that time.]Former President Donald Trump is set to hold a press conference in New York on Friday, a day after a state court jury found him guilty of 34 felony...
Trump campaign nets $34.8M in donations after guilty verdict
Former U.S. President Donald Trump pumps a fist outside Trump Tower after the verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in New York City, U.S. May 30, 2024. Eduardo...
Trump has been convicted. Here’s what happens next
A New York jury on Thursday found Donald Trump guilty on 34 felony counts of falsifying business records in an effort to conceal a hush money payment made to a porn star ahead of the 2016 presidential election.Politically, the unprecedented criminal conviction of a...
Trump Media shares recover after Donald Trump found guilty on 34 felony counts
Rafael Henrique | Lightrocket | Getty ImagesTrump Media shares fell as much as 15% in extended trading on Thursday after a New York jury found former President Donald Trump guilty on all 34 felony counts of falsifying business records in his criminal hush money...
Trump guilty in hush money trial in New York
A New York jury on Thursday found former President Donald Trump guilty of all 34 felony charges of falsifying business records related to a hush money payment to porn star Stormy Daniels by his then-personal lawyer Michael Cohen before the 2016 election.Trump, 77, is...
RBI’s Retail Direct Mobile App features & usage, BFSI News, ET BFSI
The Reserve Bank of India earlier this week introduced three new facilities for consumers — Pravaah, Retail direct app and FinTech repository. Out of these three, the Retail Direct Mobile App has been introduced to facilitate seamless and convenient access to the...
Trump’s Republican megadonors shrug off his guilty verdict
Former President Donald Trump has at least one group of supporters he won't have to worry about losing even after he was found guilty in his New York criminal hush money trial: Republican megadonors."I haven't heard anybody who gives a s---," said New York businessman...
CBDC usage soars 39-fold among retail users, plunges in wholesale, ET BFSI
The outstanding amount for Central Bank Digital Currency (CBDC) in the wholesale segment crashed while its usage in the retail segment climbed 39 times in the past year, data from the Reserve Bank of India (RBI) showed.In the wholesale segment, the outstanding amount...
South Africa election portal resumes showing results after glitch
Voters during the South Africa general elections on May 29, 2024 in Johannesburg, South Africa. Gallo Images | Gallo Images | Getty ImagesLive updates of partial results from South Africa's parliamentary election reappeared on the electoral commission's website,...
RBI’s dividend transfer may ease deposit rates if govt spends it: Ind-Ra, ET BFSI
India Ratings and Research (Ind-Ra) on Thursday said the Rs 2.11 lakh crore dividend transfer by the RBI is likely to ease liquidity pressure and bring down deposit rates in the banking system if the government spends the amount. It said the mega dividend will give a...
RBI’s Rs 2.11 trn dividend to cushion revenue slippages, allow fiscal correction: Economist, ET BFSI
The Reserve Bank of India (RBI), last week, has transferred the bumper Rs 2.11 trillion to the Centre, and experts believed that this bonanza should help ease sovereign and corporate yield curves, and the near-term bull-steepening of the Gsec curve is possible...
EU’s 14th sanctions package must target circumvention, energy exports, Zelenskyy advisor says
Floating Storage Regasification Unit (FSRU) ship "Hoegh Esperanza" is guided by tug boats during its arrival at the port of Wilhelmshaven, Germany, December 15, 2022.Fabian Bimmer | AFP | Getty ImagesThe European Union's upcoming 14th sanctions package against Russia...
RBI to speed up rupee globalisation, roll out series of reforms this fiscal, ET BFSI
The Reserve Bank of India will boost ongoing efforts towards the internationalisation of the rupee by bringing regulatory changes for non-residents, while taking steps to bolster the GIFT City’s appeal vis-à-vis other international financial centres.“Efforts are...
Austin expresses ‘concern’ over China’s activities in South China Sea
US Secretary of Defense Lloyd Austin (L) leaves a meeting at the Shangri-La Hotel in Singapore on May 31, 2024, as part of his attendance at the 21st Shangri-La Dialogue summit. The US and Chinese defence chiefs will hold rare direct talks in Singapore on May 31,...
Fed officials see inflation falling, signal no rush to cut rates, ET BFSI
Federal Reserve policymakers continue to expect inflation to fall this year even as the labor market stays strong, leaving them in no hurry to cut the policy rate from the 5.25%-5.5% range they have kept it in since last July.Dallas Fed President Lorie Logan said on...
RBI moves 100 tonnes gold from UK to its vaults in India, BFSI News, ET BFSI
NEW DELHI: Reserve Bank of India has moved a little over 100 tonnes of gold from the UK to its vaults in the country, marking the first time at least since early 1991, when precious metal at this scale has been added to the stock held locally.A similar quantity of...
Latest news on Russia and the war in Ukraine
Russian missiles hit several locations in Ukraine's northeastern Kharkiv region overnight, killing five people and injuring at least 25, according to the regional head.Oleh Syniehubov, head of Kharkiv's military administration, described the evening as a "difficult...
How 23% jump in foreign earnings helped RBI give Rs 2.11 lakh crore dividend to govt, ET BFSI
The Reserve Bank of India (RBI) has reported a significant increase in its earnings for the financial year 2023-24, driven by a strong performance from both foreign and domestic sources, helping it to give a record Rs 2.11 lakh crore dividend to the...
Argentina’s Milei meets with Open AI’s Sam Altman and Apple’s Tim Cook
Argentina's President Javier Milei waves during the commemoration of the 214th anniversary of the May Revolution that led to the independence from Spain, at Plaza San Martin in Cordoba, Argentina, on May 25, 2024.Diego Lima | Afp | Getty ImagesArgentina President...
Jury to re-hear David Pecker testimony
Justice Juan Merchan instructs the jury before deliberations as Republican presidential candidate and former U.S. President Donald Trump looks on during his criminal trial over charges that he falsified business records to conceal money paid to silence porn star...
RBI says its balance sheet increases by 11.08% YoY in FY24, ET BFSI
The Reserve Bank of India in its Annual Report on Thursday said that its balance sheet increased 11.08% year-on-year (Y-o-Y) to Rs 70.47 trillion as on March 31, 2024 riding on liquidity and foreign exchange operations. Notably, the balance sheet was Rs 63.44 trillion...
RBI to take regulatory, supervisory measures in FY25 to tackle climate change challenge, ET BFSI
Amid alarming heatwaves across the country, the Reserve Bank of India (RBI) has flagged climate related financial risks and said it was take several regulatory and supervisory measures in 2024-25 to respond to it."Climate-related financial risks and the consequent...
Government’s thrust on capex, fiscal consolidation paint bright picture for Indian economy: RBI, ET BFSI
New Delhi [India], May 30 (ANI): The outlook for the Indian economy remains bright, backed by a sustained strengthening of various macroeconomic fundamentals, robust financial and corporate sectors, said Reserve Bank of India in its annual report published on...
Latest news on Russia and the war in Ukraine
A dormitory of the Novokramatorsk Machine-Building Plant is heavily damaged by a Russian missile strike on May 29, 2024 in Kramatorsk, Donetsk Oblast, Ukraine.Global Images Ukraine | Global Images Ukraine | Getty ImagesRussian Foreign Minister Sergey Lavrov suggested...
India cenbank’s net income jumps to 2.11 trillion rupees in FY24, ET BFSI
MUMBAI, - The Indian central bank had a net income of 2.11 trillion rupees ($25.30 billion) in the financial year 2024, up from 874.20 billion rupees in the previous year with a jump in interest income from foreign securities, its annual report released on Thursday...
RBI’s reserves effective guard against Vostro holding swings, BFSI News, ET BFSI
Mumbai: Record foreign exchange reserves provide New Delhi with a formidable protective buffer against ownership swings in sovereign security holdings by Russian entities, for which the Reserve Bank of India (RBI) had facilitated a specific type of investment...
ANC set to lose majority in pivotal vote
Residents line up to cast ballots in the national election on May 29, 2024 in Matatiele, South Africa.J. Countess | Getty Images News | Getty ImagesSouth African's governing African National Congress appears set to lose majority control in the country's most seismic...
White House to support new nuclear power plants in the U.S.
The Vogtle Unit 3 and 4 site, being constructed by primary contractor Westinghouse, a business unit of Toshiba, near Waynesboro, Georgia, is seen in an aerial photo taken February 2017.Georgia Power | ReutersThe White House on Wednesday plans to announce new measures...
DOJ charges Chinese national in $5.9 billion Covid ‘botnet’ fraud
A global malware network responsible for the theft of $5.9 billion in Covid relief funds and tied to other crimes like child exploitation and bomb threats has been shut down, Department of Justice officials announced Wednesday.The DOJ arrested 35-year-old YunHe Wang,...
Supreme Court’s Alito rejects calls to recuse from Trump, Jan. 6 cases
Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021.Erin Schaff | Pool | ReutersSupreme Court Justice Samuel Alito on Wednesday rejected Democratic lawmakers' requests that he recuse himself from...
All charges dropped against golf champ Scottie Scheffler in Louisville case
FORT WORTH, TX - MAY 23: Scottie Scheffler (USA) hits from the 6th tee during the Charles Schwab Challenge on May 23, 2024 at Colonial Country Club in Fort Worth, TX. (Icon Sportswire | Icon Sportswire | Getty ImagesKentucky prosecutors on Wednesday dropped all...
RBI imposes business restrictions on ECL Finance, Edelweiss ARC, ET BFSI
RBI imposes business restrictions on ECL Finance, Edelweiss ARCThe Reserve Bank of India (RBI) on Wednesday imposed business restrictions on two supervised entities belonging to the Edelweiss Group, namely ECL Finance Ltd (ECL), and Edelweiss Asset Reconstruction...
Trump trial jury set to start deliberations in New York
Former US President Donald Trump attends his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 16, 2024. Angela Weiss | ReutersJurors in the criminal hush money trial of former...
Robust governance led by Board is pre-requisite to ensure ARCs fulfill mandate: RBI DG, ET BFSI
Robust governance led by the Board is a pre-requisite to ensuring that Asset Reconstruction Companies (ARCs) fulfill their intended mandate, said the RBI Deputy Governor Swaminathan J.In a speech at the Conference of ARCs, the Deputy Governor said, “Effective...
RFK Jr. donor to publish Hunter Biden ex’s tell-all memoir
Hunter Biden, son of U.S. President Joe Biden, arrives for a closed-door deposition before the House Committee on Oversight and Accountability, and House Judiciary Committee in the O'Neill House Office Building on February 28, 2024 in Washington, DC. The meeting is...
Investors must take Rajan’s promise, not Pitroda’s threat, ET BFSI
Investors usually turn jittery ahead of any scheduled event that could alter the course of economic policymaking. This month is no different with the general elections underway that could either bring back a single party rule, or anoint an agglomeration of disparate...
Haiti gets a new prime minister as nation remains under siege by gangs
U.N. development specialist Garry Conille was named Haiti's new prime minister Tuesday evening, nearly a month after a coalition within a fractured transitional council sought to choose someone else for the position.Jewel Samad | Afp | Getty ImagesU.N. development...
Latest news on Russia and the war in Ukraine
Ukraine says it shot down 13 drones overnightThe Ukrainian air force said it shot down 13 out of 14 drones launched overnight by Russia, according to a Google-translated Wednesday update on the Telegram messaging app. The attack took place over the Mykolaiv,...
Robert De Niro slams Trump outside criminal trial
US actor Robert De Niro speaks in support of US President Joe Biden outside of Manhattan Criminal Court as former US President and Republican presidential candidate Donald Trump attends his criminal trial for allegedly covering up hush money payments in New York City,...
Georgia president overruled, lawmakers push forward with ‘Russian law’
Demonstrators protesting the "foreign influence" law crowd outside the parliament building in central Tbilisi on May 28, 2024.Vano Shlamov | Afp | Getty ImagesGeorgian lawmakers on Tuesday voted to override a presidential veto on the Russia-style "foreign agents" law,...
RBI transforms finance with PRAVAAH, Retail Direct mobile app, and FinTech Repository, ET BFSI
In the late hours of Tuesday, the Reserve Bank of India (RBI) announced three pioneering initiatives aimed at streamlining regulatory procedures, empowering retail investors, and providing comprehensive insights into the burgeoning fintech sector.The first of these...
U.S. court to hear challenges to potential TikTok ban in September
Participants hold signs in support of TikTok at a news conference outside the U.S. Capitol Building on March 12, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesA U.S. appeals court on Tuesday set a fast-track schedule to consider the legal challenges to a new...
South Africa prepares for election that could see ANC lose grip on power
President of the ruling African National Congress (ANC) and South African President, Cyril Ramaphosa at a rally on May 25, 2024 in Johannesburg, South Africa. Chris Mcgrath | Getty Images News | Getty ImagesSome 30 years on from the peaceful transition from apartheid...
Wikipedia’s Jimmy Wales and business leaders back Labour
Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England.Dan Kitwood | Getty Images News | Getty ImagesLONDON — More than 100 business...
Trump trial closing arguments to begin in New York hush money case
Former President Donald Trump looks on before the start of trial at the Manhattan Criminal Court during trial in New York City May 20, 2024. Mark Peterson | Via ReutersClosing arguments in the criminal hush money trial of Donald Trump are set to begin in New York on...
Four European Union banks seek RBI nod for clearing model, ET BFSI
Four top European banks, which also play key custodian roles in the local sovereign debt trade, have sought the Reserve Bank of India's (RBI) go-ahead for a third-party transaction model to break the impasse involving their home authorities and domestic policymakers...
RBI tells money changers to avoid build-up of idle foreign currency balances, ET BFSI
The Reserve Bank of India has directed full-fledged money changers to ensure that the value of foreign currency notes sold by them to the public should not be less than 75% of the value of such notes bought from other money changers on a quarterly basis.The RBI’s...
PSBs face 11% profit hit if RBI’s project finance norms implemented on existing projects, ET BFSI
Public sector banks may face 11% hit on profits and private sector banks 4% if the RBI project finance norms are implemented on the existing stock of funded projects. "Since the banks are currently under IRAC norms if the higher charge on the existing stock of funded...
E. Jean Carroll’s lawyer responds to Trump Memorial Day post
Former U.S. President Donald Trump speaks to members of the media amid his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, U.S., on May 16, 2024. Angela Weiss | Via ReutersDonald Trump...
What ails RBI’s wholesale e-rupee pilot?, BFSI News, ET BFSI
Image for representationSince its launch in November 2022, the e-rupee pilot for government bonds has operated without technical issues. Despite a flawless proof of concept, the only expansion to the wholesale e-rupee pilot has been the inclusion of call money...
Latest news on Russia and the war in Ukraine
Netherlands pledges Patriot parts, proposes international effort to build system for UkraineThe Netherlands proposed to contribute core parts from its existing stocks, in a bid to assemble a Patriot air defense system in collaboration with other countries and deliver...
RBI dividend to have limited impact on medium-term fiscal consolidation: Fitch, ET BFSI
New Delhi: A larger-than-expected surplus transfer by the RBI will have a limited impact on India's medium-term fiscal consolidation, Fitch Ratings said Friday."While supportive of near-term fiscal performance, the one-off nature of the dividend, however, means the...
North Korea plans to launch satellite rocket between May 27 and June 4, Japan Coast Guard says
View of what appears to be an inspection test of a new surface-to-sea missile, at an undisclosed location in North Korea in this picture released by the Korean Central News Agency on February 15, 2024. KCNA | ReutersNorth Korea has notified Japan of its plan to launch...
Trump booed and heckled by raucous crowd at Libertarian convention
Presidential candidate Donald Trump was booed and heckled by many in a raucous audience at the Libertarian National Convention on Saturday night, a marked change from the adulation he receives at rallies from his fervently loyal supporters.Brendan McDermid |...
Central Bank of India told to pay Rs 25 crore for fraudulent transfer, ET BFSI
Public Health Foundation of India (PHFI), a registered society formed with the aim of establishing new institutes of public health and assisting existing ones, had collaborated with state and central govt agencies for fulfilling its objectives. At the stage of...
China calls on Japan and South Korea to reject ‘protectionism’
SEOUL, SOUTH KOREA - MAY 26: South Korean President Yoon Suk Yeol (3rd, L) talks with Chinese Premier Li Qiang (2nd, R) during a bilateral meeting at Presidential Office on May 26, 2024 in Seoul, South Korea. (Photo by Ahn Young-Joon - Pool/Getty Images)Pool | Getty...
Threatening election officials is ‘domestic terrorism,’ says Arizona Sec’y of State
Adrian Fontes (D-AZ) declares victory in his campaign against Republican candidate Mark Finchem for Arizona's Secretary of State in the U.S. midterm elections in Phoenix, Arizona, U.S., November 14, 2022. Jim Urquhart | ReutersArizona Secretary of State Adrian Fontes...
Lithuanians vote in presidential election overshadowed by Russia
Voters cast their ballot during the second round of the country's presidential election at a polling station in Vilnius, Lithuania on May 26, 2024. Petras Malukas | Afp | Getty ImagesLithuania holds presidential elections on Sunday, with incumbent Gitanas Nauseda...
After China drills, Taiwan president again extends goodwill
Lai Ching-te, president of Taiwan, on Saturday, Jan. 13, 2024. Bloomberg | Bloomberg | Getty ImagesTaiwan President Lai Ching-te again extended goodwill towards and offered cooperation with China on Sunday following two days of Chinese war games near the island,...
European banks in Russia face ‘awful lot of risk’, Yellen says
U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. Kent Nishimura | Getty ImagesU.S. Treasury Secretary Janet Yellen told Reuters...
Misconduct allegations not reported promptly
Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC), during a House Financial Services Committee oversight hearing in Washington, DC, US, on Wednesday, May 15, 2024. Graeme Sloane | Bloomberg | Getty ImagesThe Federal Deposit Insurance Corp....
Truth Social struggles to grow U.S. user base
Nearly two-and-a-half years after its launch, Truth Social is struggling to hang onto its small U.S. user base, according to new data on the microblogging platform launched by former President Donald Trump's media company.So far in May, U.S. daily visits to Truth...
Maldives to launch India’s RuPay service amid bilateral tensions, ET BFSI
Notwithstanding the turbulence in their bilateral ties, the Maldives will soon launch India's RuPay service, which a senior minister has said "will bolster the Maldivian Rufiyaa." RuPay, a product of the National Payments Corporation of India (NPCI), is the first of...
RBI dividend to have limited impact on medium-term fiscal consolidation: Fitch, ET BFSI
New Delhi: A larger-than-expected surplus transfer by the RBI will have a limited impact on India's medium-term fiscal consolidation, Fitch Ratings said Friday."While supportive of near-term fiscal performance, the one-off nature of the dividend, however, means the...
Texas Republican convention splits with corporate sponsors
Texas Governor Greg Abbott and former President Donald J. Trump attend a security briefing with state officials and law enforcement at the Weslaco Department of Public Safety DPS Headquarters before touring the US-Mexico border wall on Wednesday, June 30, 2021 in...
RBI imposes Rs 3.1 lakh penalty on Hero FinCorp, BFSI News, ET BFSI
Mumbai: The RBI on Friday said it has imposed a penalty of Rs 3.1 lakh on Hero FinCorp Limited for non-compliance with certain provisions relating to fair practices code. The Reserve Bank, however, added the penalty is based on deficiencies in regulatory compliance...
Yellen sees no ‘showstoppers’ on G7 Ukraine loan backed by Russian asset earnings
U.S. Treasury Secretary Janet Yellen attends an interview with Reuters Editor in Chief Alessandra Galloni in Washington, U.S., April 25, 2024. Evelyn Hockstein | ReutersU.S. Treasury Secretary Janet Yellen said on Friday that she does not see "any showstoppers" in her...
India’s forex reserves jump third week to hit fresh lifetime high, ET BFSI
New Delhi [India], May 24 (ANI): India's foreign exchange reserves rose for the third straight week, by USD 4.549 billion to USD 648.700 billion in the week that ended on May 17, according to data shared by the Reserve Bank of India (RBI). In the process, they touched...
UN’s top court orders Israel to halt military offensive in Rafah
The International Court of Justice displayed on a smartphone, with the flag of Israel visible in the background in Brussels, Belgium, on May 20, 2024. Nurphoto | Nurphoto | Getty ImagesThe U.N.'s top court, the International Court of Justice, on Friday ordered Israel...
Latest news on Russia and the war in Ukraine
Romania declares Russian diplomat 'persona non grata'Romania's Ministry of Foreign Affairs on Friday said it has declared the diplomat of the Russian embassy to Bucharest persona non grata, citing "activities that contravene the provisions of the Vienna Convention on...
RBI dividend will have economic dividends, BFSI News, ET BFSI
An outstanding dividend by RBI provides the incoming government more elbow room to reach its medium-term fiscal target or improve the deficit's composition to drive more capex. In the first eventuality, GoI could help lower interest rates by trimming its borrowings....
A win-win situation! RBI’s bumper dividend will leave India’s new government spoilt for choice, ET BFSI
India's incoming government will be greeted with a $25 billion cheque from the central bank, giving it the option to either boost spending or narrow the fiscal deficit quicker, both of which will be cheered by investors.On Wednesday, the Reserve Bank of India (RBI)...
Implications of China’s war drills around Taiwan
Members of Taiwan's military conduct routine exercises at Liaoluo Port in Kinmen on May 24, 2024. China on May 23 encircled Taiwan with naval vessels and military aircraft in war games aimed at punishing the self-ruled island after its new president vowed to defend...
Indian cenbank’s FX strategy leans on NDF intervention to safeguard reserves, say sources, ET BFSI
By Jaspreet Kalra, Nimesh Vora and Swati BhatMUMBAI - The Reserve Bank of India is relying more on interventions in the non-deliverable forwards (NDF) market to limit rupee volatility as they have a lower impact on foreign exchange reserves, two sources familiar with...
CHIPS Act last $6 billion in semiconductor award money
The rollout of the Biden administration's CHIPS Act award money has so far focused on providing major awards for major companies, with just four leading-edge semiconductor manufacturers receiving the lion's share of the $33 billion that has been allocated to this...
Sebi proposes relaxation in valuations of AIFs’ investment portfolio, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has proposed relaxation of rules on valuation of investment portfolio of alternative investment funds (AIFs).These easing of norms relate to change in valuation methodology on material change, computing...
Cop violated body camera rules, chief says
Scottie Scheffler arrives to the course during the second round of the PGA Championship at Valhalla Golf Club in Louisville, Kentucky, on May 17, 2024.Ben Jared | PGA Tour | Getty ImagesA Louisville, Kentucky, police detective violated department policy by not...
French AI boom could help EU close U.S., China tech innovation gap
PARIS, France — Europe is pursuing AI innovation, tech regulation and competition with China in very different ways than the United States, French President Emmanuel Macron said this week, as the continent seeks to become the third major global tech force in what is...
UK General Election 2024: Analysts forecast ‘historic’ result
British Prime Minister Rishi Sunak makes a statement in the rain outside 10 Downing Street, announcing the UK general election will take place on 4 July in London, United Kingdom on May 22, 2024.Anadolu | Anadolu | Getty ImagesU.K. Prime Minister Rishi Sunak ended...
JP Morgan bond inclusion helps RBI record highest net dollar purchase in three years, buys $41.27 billion in FY24, ET BFSI
The Reserve Bank of India (RBI) recorded its highest net dollar purchase in the past three years, acquiring $41.27 billion in the financial year 2023-24 (FY24). This marks the largest net purchase since the financial year 2020-21 (FY21), when the RBI bought $68.3...
How did the macroeconomic indicators perform in April 2024?, ET BFSI
~Shrishti SharmaIn April 2024, India's economy showed resilience amidst global uncertainty. GDP growth surged to 8.4%, driven by manufacturing, mining, and construction sectors. Projections revised upwards to 7.6-7.8% by Deloitte and PwC. Nifty index rose steadily...
India central bank’s record dividend to government may reduce fiscal gap, ET BFSI
By Swati Bhat and Nikunj OhriMUMBAI -The board of India's central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts' and government projections.The...
TRAI dials RBI, SEBI & DoT over pesky call issue, BFSI News, ET BFSI
NEW DELHI: A high-level meeting convened by telecom regulator Trai discussed the growing instances of pesky calls and unsolicited messages, to chalk out a solution for countering the menace."Unsolicited commercial communication is a major source of inconvenience to...
RBI buys 1.5 times more gold in January-April than whole of 2023, ET BFSI
The Reserve Bank of India added 24 tonnes of gold to its stock of reserves in four months from January to April this year as a hedge against volatility amid geopolitical tensions. This is reckoned to be a part of strategic diversification of reserves in challenging...
Rate easing may have to wait, highlights RBI in its latest bulletin, ET BFSI
Easing of rates by the Reserve Bank of India might still have to wait going by the hawkish tone in an assessment of the economy published by the RBI economists in its latest monthly bulletin.“A modest easing of headline inflation in the reading for April 2024 confirms...
India central bank’s record dividend to government may reduce fiscal gap, ET BFSI
By Swati Bhat and Nikunj OhriMUMBAI -The board of India's central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts' and government projections.The...
RBI’s record Rs 2.11 lakh crore transfer to govt set to bring down interest rates, ET BFSI
The Reserve Bank of India (RBI) has transferred a record surplus of Rs 2.11 lakh crore to the government for the financial year 2023-24, significantly surpassing expectations. This substantial transfer has raised hopes among bond traders that the government might...
‘I myself was not involved in corrupt practices’
Malaysia's former prime minister Mahathir Mohamad said he and his family members were not involved in any "corrupt practices."Last month, Malaysia's Anti-Corruption Commission said Mahathir was among individuals being investigated over a corruption probe that...
Why RBI is stocking up aggressively on gold reserves; central bank buys 1.5 times more gold in Jan-April than entire 2023, ET BFSI
RBI stocks up gold reserves: From January to April 2024, the Reserve Bank of India (RBI) added 24 tonnes of gold to its reserves, a strategic move to hedge against volatility amidst geopolitical tensions. This addition is significantly higher than the 16 tonnes added...
Latest news on Russia and the war in Ukraine
Russia detains fourth top defense figure for bribe-taking, media reportsRussia has detained the deputy head of the army's general staff Lieutenant General Vadim Shamarin, on suspicion of large-scale bribe-taking, Russian media reported on Thursday, the latest in a...
Indian shares up led by financials after cenbank’s record dividend to government, ET BFSI
By Bharath Rajeswaran and Dimpal GulwaniBENGALURU - Indian shares recovered from a muted start on Thursday, helped by a rebound in financials on hopes of improvement in the country's fiscal deficit after the Reserve Bank of India's record dividend to the...
BP exec’s husband gets prison term for insider trading
Sam Edwards | Getty ImagesThe ex-husband of a former BP mergers and acquisitions manager was sentenced to two years in federal prison for insider trading that netted him $1.76 million after he eavesdropped on her work calls about the oil giant buying another...
UK Prime Minister Rishi Sunak calls July 4 general election
Britain's Prime Minister Rishi Sunak leaves Downing Street in London, Britain, May 22, 2024. Hollie Adams | ReutersLONDON - U.K. Prime Minister Rishi Sunak on Wednesday called for a general election to take place on July 4, after economic data showed a fall inflation...
Most Americans falsely think the U.S. is in recession, poll shows
People walk past a homeless man outside the New York Stock Exchange (NYSE) at Wall Street on January 18, 2023 in New York City. Angela Weiss | AFP | Getty ImagesMore than half of Americans think that the United States is in an economic recession, although gross...
Meet the leaders of the Trump era’s new conservative economic populism
(L-R) J.D. Vance, a Republican candidate for U.S. Senate in Ohio, and Sen. Josh Hawley (R-MO) speak with reporters at a campaign rally on May 1, 2022 in Cuyahoga Falls, Ohio.Drew Angerer | Getty ImagesThis reported column is Part Two of Eamon Javers' two-part series...
RBI approves transfer of Rs 2.11 trillion as surplus to Union government, ET BFSI
In a board meeting, the Reserve Bank of India (RBI) has approved the transfer of Rs 2.11 trillion ($25.35 billion) as surplus to the Union government for the fiscal year ended March.“The Board has approved the transfer of Rs 2,10,874 crore as surplus to the Central...
Will RBI’s dividend, surplus payment to govt top Rs 1 lakh crore this year?, ET BFSI
The government is also likely to raise the target for surplus transfers from the Reserve Bank of India (RBI) and dividends from public sector banks and financial institutions in addition to increasing the target for dividend receipts. The Interim Budget had projected...
RFK Jr. says he invested $24,000 in GameStop after meme stock revival
Independent U.S. presidential candidate Robert F. Kennedy Jr. hikes in the Santa Monica Mountains in Los Angeles on March 18, 2024.Mike Blake | ReutersRobert F. Kennedy Jr., the third-party challenger to President Joe Biden and former President Donald Trump in the...
India on cusp of long-awaited economic take-off, says RBI article, ET BFSI
The Reserve Bank of India has said that there is optimism about India's economic take-off globally and recent indicators point to a rising demand."There is a growing optimism that India is on the cusp of a long-awaited economic take-off. Recent indicators are pointing...
Fani Willis and judge presiding over Trump election interference case defeat challengers in election
Fulton County District Attorney Fani Willis speaks to the media after a grand jury brought back indictments against former President Donald Trump and 18 of his allies in their attempt to overturn the state's 2020 election results, in Atlanta, Georgia, Aug. 14,...
Sebi amends rule to facilitate ease of doing biz for cos planning IPOs, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has allowed non-promoter shareholders to contribute towards the shortfall in minimum promoters’ contribution in an initial public offering (IPO) without being identified as a promoter.Rules mandate at least 20%...
RBI may delay plan to ease interest rates, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will likely push back the decision to begin easing policy rates as the latest inflation print suggests the potential alignment of the keenly monitored price index with the mandated target for the central bank is back-ended. "A...
Trump campaign starts taking cryptocurrency donations
Former US President Donald Trump speaks during a campaign event at the Waukesha Expo Center in Waukesha, Wisconsin, US, on Wednesday, May 1, 2024. Daniel Steinle | Bloomberg | Getty ImagesThe Trump campaign announced Tuesday it will start accepting cryptocurrency...
Citing lack of stability, RBI cautions retail investors against investing in cryptocurrencies, ET BFSI
RBI yet again urged retail investors to be more cautious while investing in cryptocurrencies, and noted that the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.RBI, in its monthly bulletin released Tuesday, asserted that...
Latest news on Russia and the war in Ukraine
Russia's tactical nuclear weapons drills meant to send a warning to the WestThe timing of Russian non-strategic nuclear weapons drills that began on Tuesday is not accidental and will certainly be watched closely by Ukraine and the West.The exercises come at a time...
India Inc raises record debt capital in FY24, BFSI News, ET BFSI
India Inc has raised more debt capital in FY24 from both local and overseas investors than what they did in the preceding fiscal, supported by increasing appetite for investing in Indian companies.Bond issuances during 2023-24 grew by about 15% to Rs 8.6 lakh crore as...
Trump ally Doug Burgum in business with oil giant
Republican presidential candidate and former president Donald Trump shakes hands with North Dakota Gov. Doug Burgum and Vivek Ramaswamy, left, at a campaign rally at the The Margate Resort in Laconia, NH on Monday, January 22, 2024.Jabin Botsford | The Washington Post...
Biden takes credit for Target grocery price cuts
U.S. President Joe Biden delivers remarks on lowering costs for American families during a visit to Goffstown, New Hampshire, U.S., March 11, 2024.Kevin Lamarque | ReutersPresident Joe Biden took a victory lap after Target announced it was lowering prices on groceries...
Trump Media stock falls after posting quarterly loss
Aytac Unal/ | Anadolu | Getty ImagesShares of Trump Media fell more than 10% on Tuesday, a day after the Truth Social app owner reported a net loss of $327.6 million on just $770,500 in revenue in the first quarter of 2024.Trump Media, whose majority shareholder is...
Trump trial resumes in porn star hush money case
Witness Robert Costello is scolded by Justice Juan Merchan, who momentarily cleared the courtroom during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in...
Supreme Court’s Alito sold AB InBev, bought Coors
United States Supreme Court Associate Justice Samuel Alito poses for an official portrait at the East Conference Room of the Supreme Court building on October 7, 2022 in Washington, DC. Alex Wong | Getty ImagesSupreme Court Justice Samuel Alito sold shares of beer...
Trump Republicans shift GOP approach to labor, free markets and regulation
Republican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersThis reported column is Part One of Eamon Javers' two-part series on the new, conservative...
Iran begins days of funeral rites for Ebrahim Raisi after crash
People attend funeral ceremony, held for Iranian President Ebrahim Raisi and his senior officials died in a helicopter crash, in Tabriz, Iran on May 21, 2024. Anadolu | Anadolu | Getty ImagesThousands of mourners descended on Tabriz on Tuesday for a funeral ceremony...
Trump Media (DJT) Q1 2024 earnings
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesTrump Media & Technology Group, the parent...
Heat waves, monsoon will offer RBI some food for thought, BFSI News, ET BFSI
Intense heat waves are not just making daily life inconvenient but also affecting various sectors of the economy. The upcoming monsoon season too will be crucial for the economy. Weather is becoming a permanent factor in the calculations of the Reserve Bank of India...
Donald Trump outraises President Joe Biden in April
Former U.S. President and Republican presidential candidate Donald Trump holds a rally in advance of the New Hampshire presidential primary election in Rochester, New Hampshire, U.S., January 21, 2024. Mike Segar | ReutersFormer President Donald Trump outraised...
FinMin may raise FY25 CPSE dividend target in full budget, BFSI News, ET BFSI
New Delhi, The finance ministry is likely to raise the CPSE dividend estimates by Rs 5,000 crore to around Rs 53,000 crore for the current fiscal in the full budget to be presented in July. In the interim budget 2024-25, the government had pegged dividend estimates...
Banks to RBI, ET BFSI
Representative ImageMUMBAI: Banks will have only a 'limited ability' to pass on the impact of the proposed increase in project loan provisions due to the intense competition among lenders and the pressure to maintain relationships with large corporates. Officials from...
Latest news on Russia and the war in Ukraine
Russia experiencing labor shortages as war demands manpowerRussia is currently experiencing a labor shortage in no small part due to the war in Ukraine, with some sectors experiencing significant problems recruiting workers, the British Ministry of Defense said...
Biden’s White House is courting CEOs while bashing corporate greed
U.S. President Joe Biden departs the White House in Washington, U.S., for a campaign fundraiser in California, May 9, 2024. Craig Hudson | ReutersPresident Joe Biden has had it out for corporate America for much of his term.Over the past three years, he has worked to...
Top Democrat asks Biden to replace FDIC chairman
Senator Sherrod Brown (D-OH), speaks at the 2019 National Action Network National Convention in New York, April 5, 2019.Lucas Jackson | ReutersSen. Sherrod Brown, D-Ohio, on Monday called on President Joe Biden to replace Federal Deposit Insurance Corporation Chairman...
Trump trial closing arguments set for May 28
Former U.S. President Donald Trump sits in the courtroom at Manhattan Criminal Court with his attorney Todd Blanche (L) on May 20, 2024 in New York City.Michael M. Santiago | Getty ImagesThe end of the criminal hush money trial of Donald Trump in New York will not...
ICC seeks arrest warrants for Israeli PM Netanyahu, three Hamas leaders
The International Criminal Court (ICC) logo is seen on a smartphone screen.Sopa Images | Lightrocket | Getty ImagesThe International Criminal Court is seeking arrest warrants against three leaders of Palestinian militant group Hamas and Israeli Prime Minister Benjamin...
WikiLeaks’ Julian Assange can appeal extradition to U.S.: UK court
LONDON, ENGLAND - MAY 19: Julian Assange gestures as he speaks to the media from the balcony of the Embassy Of Ecuador on May 19, 2017 in London, England. Photo by Jack Taylor/Getty Images)Jack Taylor | Getty Images News | Getty ImagesLONDON — WikiLeaks founder Julian...
Russian strikes on Ukraine’s Kharkiv region kill at least 11
A view shows a crater that appeared after a Russian missile strike on a structure at a resort, amid Russia's attack on Ukraine, in Kharkiv, Ukraine May 19, 2024. REUTERS/Valentyn OgirenkoValentyn Ogirenko | ReutersRussia struck a busy lakeside resort on the edge of...
Iran’s President Raisi is dead. What does it mean for the country and the world?
The President of Islamic Republic of Iran Seyyed Ebrahim Raisi during the meeting with Secretary-General Antonio Guterres UN Headquarters.Lev Radin | Lightrocket | Getty ImagesThe sudden death of Iranian President Ebrahim Raisi in a helicopter crash plunges Tehran...
Why did the RBI reject most bids in the bond buyback programme?, ET BFSI
For the past couple of weeks, India's sovereign bond market has been buzzing with developments surrounding a particular kind of operation that the Reserve Bank of India carries out in its role as the government's merchant banker. The operation in question is a buyback...
Iran’s President Raisi, Foreign Minister Amirabdollahian killed in helicopter crash
Iranian President Ebrahim Raisi speaks during a meeting with the cabinet in Tehran, Iran, October 8, 2023.Wana News Agency | ReutersIranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian died in a helicopter crash, state media reported...
Latest news on Russia and the war in Ukraine
Russian oil refinery damaged after weekend attack from Ukraine, state media reportsRussia's Slavyansk oil refinery was damaged in a drone attack from Ukraine over the weekend, Russian state news agency Tass reported on Monday."There is damage. Their scale and size...
Centre may get around ₹1 lakh crore in RBI dividend, BFSI News, ET BFSI
Recent actions by the Reserve Bank of India (RBI) suggest that it may transfer a higher dividend - possibly in the region of ₹1 lakh crore - to the government than last year, giving a potential boost to New Delhi's finances.Last week, the RBI announced a steep cut in...
India’s foreign exchange reserves rose USD 2.6 billion in latest week, ET BFSI
New Delhi [India], May 19 (ANI): India's foreign exchange reserves rose for the second straight week, by USD 2.561 billion to USD 644.151 billion in the week that ended on May 10, according to data shared by the Reserve Bank of India (RBI).Preceding these two weeks,...
Taiwan’s new President Lai Ching-te urges China to stop its ‘intimidation
Lai Ching-te (center) was sworn in as Taiwan's new president on Monday, taking over from his predecessor Tsai Ing-wen (left), who is stepping down at the end of her two-term limit on the presidency.Annabelle Chih | Getty Images News | Getty ImagesTaiwan's new...
Biden confronts Gaza, 2024 election weak spots in Morehouse speech
U.S. President Joe Biden addresses Morehouse College graduates during a commencement ceremony in Atlanta, Georgia, U.S., May 19.Elizabeth Frantz | ReutersPresident Joe Biden on Sunday addressed the war in Gaza and discussed his investments in Black communities during...
RBI announces reduction in the quantum of the government’s treasury bill sales, ET BFSI
Following interactions with lenders amid tight liquidity conditions, the central bank has announced a steep reduction in the quantum of the government’s treasury bill sales and a new selection of bonds for the Centre’s buyback operations to aid freeing up cash for...
RBI’s Swaminathan cautions NBFCs on poor data, unsecured loans, ET BFSI
Mumbai: Non-banking finance companies' (NBFCs) adoption of technology is fuelling growth, but reliance on algorithms built on poor data, over-reliance on unsecured loans and unsustainable loan limits are leading to build-up of risks that could bring grief in the...
Need proactive risk mitigation measures to tackle cyberattacks: RBI DG, ET BFSI
RBI deputy governor Swaminathan J said the potential impact of a cyberattack on a bank's operations, reputation, and financial stability cannot be "overstated", as he emphasised the need for proactive risk mitigation strategies. Speaking at the Conference of Heads of...
New York crypto personality used ‘Seinfeld’ joke in fraud: feds
Jason Alexander as George Costanza. Maria McCarty | NBCU Photo Bank | NBCUniversal | Getty ImagesYada, yada, yada, this cryptocurrency crook isn't laughing now.A New York man swindled more than $1.3 million from friends, neighbors and investors by among other things...
Man convicted of attacking ex-Speaker Nancy Pelosi’s husband with a hammer sentenced to 30 years
David DePape, right, records the nude wedding of Gypsy Taub outside City Hall on Dec. 19, 2013, in San Francisco. DePape is accused of breaking into House Speaker Nancy Pelosi's California home and severely beating her husband with a hammer. DePape was known in...
Trump campaign lawyer John Eastman pleads not guilty in Arizona case
Attorney John Eastman, the architect of a legal strategy aimed at keeping former President Donald Trump in power, gets out of an SUV to talk to reporters after a hearing in Los Angeles, Tuesday, June 20, 2023.Jae C. Hong | APThe attorney John Eastman pleaded not...
Justice urged to leave Trump election case
Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021.Erin Schaff | Pool | ReutersThe chair of the Senate Judiciary Committee on Friday urged Supreme Court Justice Samuel Alito to recuse himself...
RBI Dy Guv highlights supervisory concerns in functioning of ARCs, ET BFSI
The Reserve Bank of India (RBI) on Friday held a Conference in Mumbai for the Directors and MD/ CEOs of Asset Reconstruction Companies (ARCs).At the event, Deputy Governors M. Rajeshwar Rao and Swaminathan J. addressed the participants.In his keynote address, M....
World’s top golfer Scottie Scheffler arrested for assaulting officer at PGA championship event
Mugshot of PGA Golfer Scott Alexander Scheffler, arrested for assault on police after trying to enter PGA Championship venue.Source: WaveScottie Scheffler, the top golfer in the world, was taken into custody Friday and charged with felony assault on a police officer...
RBI holds conference for heads of assurance functions at Urban Co-operative Banks, ET BFSI
Mumbai (Maharashtra) [India], May 16 (ANI): The Reserve Bank of India (RBI) convened a conference in Mumbai on Thursday, bringing together Heads of Assurance Functions from select Urban Co-operative Banks (UCBs).According to RBI press release, this conference,...
RBI’s Swaminathan cautions NBFCs on poor data, unsecured loans, ET BFSI
Mumbai: Non-banking finance companies' (NBFCs) adoption of technology is fuelling growth, but reliance on algorithms built on poor data, over-reliance on unsecured loans and unsustainable loan limits are leading to build-up of risks that could bring grief in the...
Sen. Menendez’s wife has breast cancer, he reveals at corruption trial
US Senator Bob Menendez, Democrat of New Jersey, and his wife Nadine Arslanian, arrive at the US District Court, Southern District of New York, in New York City on September 27, 2023. Timothy A. Clary | AFP | Getty ImagesNadine Menendez, the wife and co-defendant of...
India central bank likely selling dollars to cap rupee depreciation, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to limit weakness in the rupee, four traders told Reuters.The rupee was at 83.4850 against the dollar as of 09:50 a.m. IST, barely changed from its previous close at 83.50.The rupee has remained under...
India central bank likely selling dollars to cap rupee depreciation, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to limit weakness in the rupee, four traders told Reuters.The rupee was at 83.4850 against the dollar as of 09:50 a.m. IST, barely changed from its previous close at 83.50.The rupee has remained under...
Modi strongman rule raises questions on India’s ‘democratic decline’
Narendra Modi, India's prime minister, center, during a campaign rally in Agra, Uttar Pradesh, India, on Thursday, April 25, 2024. Modi doubled down on his attacks against the main opposition party by using language critics say sows division between the country's...
Rupee little changed, likely RBI intervention counters slip in Asian peers, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was largely unchanged on Friday as dollar sales from state-run banks, likely on behalf of the Reserve Bank of India (RBI), curbed weakness in the currency even as its Asian peers slipped.The rupee was at 83.48 against the...
Latest news on Russia and the war in Ukraine
Zelenskyy says situation in Kharkiv region 'stabilized' after Russian forces make significant gainsUkraine's President Volodymyr Zelensky waits to greet US Secretary of State prior to their meeting in Kyiv on May 14, 2024. Brendan Smialowski | AFP | Getty...
India’s 2024 economic growth projection revised upwards by UN to nearly 7 per cent, ET BFSI
By Yoshita Singh United Nations, The United Nations has revised upwards India's growth projections for 2024, with the country's economy now forecast to expand by close to seven per cent this year, mainly driven by strong public investment and resilient private...
Facebook and Nike diversity manager gets prison for fraud
Barbara Furlow-Smiles attends the 2020 Sisters' Awards at Skirball Cultural Center on March 08, 2020 in Los Angeles, California.Robin L. Marshall | Getty ImagesA former diversity manager at Facebook and Nike was sentenced to five years and three months in prison for...
Trump lawyer yells at Michael Cohen in cross-examination
Michael Cohen, a former attorney for Republican presidential candidate and former U.S. President Donald Trump, heads to court for second day of cross-examination at Trump's criminal trial over charges that he falsified business records to conceal money paid to silence...
Perks for Trump top donors during GOP Convention
ANAHEIM, CALIFORNIA - SEPTEMBER 29: Former U.S. President Donald Trump Former U.S. President Donald Trump speaks at the California GOP convention on September 29, 2023 in Anaheim, California. Presidential candidates set to speak at the convention include former...
Biden slams Trump as he touts record-high Dow crossing 40,000
U.S. President Joe Biden delivers remarks on the September Jobs Report at the White House in Washington, D.C., on Oct. 6, 2023.Kevin Dietsch | Getty ImagesPresident Joe Biden's campaign ripped presumptive Republican nominee Donald Trump after the Dow Jones Industrial...
Supreme Court Justice Clarence Thomas questioned on RV loan
Two leading Democratic senators are pressing Supreme Court Justice Clarence Thomas to say whether he repaid a wealthy friend any of the principal for a $267,230 loan he used to buy a luxury motorhome.The letter to Thomas's lawyer, dated Tuesday, raises questions about...
Supreme Court rules Consumer Financial Protection Bureau funding structure is legal
The Consumer Financial Protection Bureau headquarters in Washington, D.C., on May 14, 2021.Andrew Kelly | ReutersThe Supreme Court ruled Thursday that the funding structure of the Consumer Financial Protection Bureau is legal.The court in a 7-2 decision rejected an...
India to become USD 4 trillion economy in FY25: Sanjeev Sanyal, ET BFSI
New Delhi: India will be a USD 4 trillion economy in 2024-25 and surpass Japan by early next fiscal to become the world's fourth largest economy, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday. Sanyal further said that...
U.S. questions China’s no-first-use nuclear call given buildup
China has not responded to U.S. nuclear-weapons risk-reduction proposals and Washington has questions about Beijing's call for no-first-use talks while China continues to build up its arsenal, the top U.S. arms control official said on Wednesday. Under Secretary of...
European Central Bank says stress in home loans manageable despite high rates, ET BFSI
Representative ImageFRANKFURT: Stress in the euro zone market for home loans is "manageable" despite higher interest rates stretching borrowers and lax checks by some banks, the European Central Bank said on Wednesday.Record high interest rates, imposed by the ECB to...
No longer in life-threatening condition
Slovakia's Prime Minister Robert Fico walks during the European Council summit at the EU headquarters in Brussels, on April 18, 2024. Kenzo Tribouillard | Afp | Getty ImagesSlovakia's populist Prime Minister Robert Fico is expected to survive a multiple-shot...
Russia-China relations are ‘stabilizing’ for world
BEIJING, CHINA - MAY 16: (RUSSIA OUT) Russian President Vladimir Putin (L) and Chinese President Xi Jinping (R) talk during a bilateral meeting on May 16, 2024, in Beijing, China. Russian President Vladimir Putin is in China for a two-day state visit. (Photo by...
Saudi-Israeli normalization obstacle is two state solution: former CIA
Gen. David Petraeus, Former CIA Director, Fmr. Central Commander and American commander in Iraq.Adam Jeffery | CNBCA two-state solution to the Israel-Palestinian conflict is "elusive" right now, according to former CIA director David Petraeus, adding that it is also...
Latest news on Russia and the war in Ukraine
Russia and China's relationship is more complicated than meets the eye, analysts sayRussia's relationship with superpower China is in the spotlight as President Vladimir Putin meets his Chinese counterpart Xi Jinping in Beijing.Both countries' ties with the West have...
Feds charge brothers in $25 million cryptocurrency heist that took 12 seconds
Jonathan Raa | Nurphoto | Getty ImagesThe Department of Justice on Wednesday announced the indictment of two brothers for allegedly stealing $25 million in cryptocurrency within roughly 12 seconds.Anton Peraire-Bueno, 24, and James Pepaire-Bueno, 28, were arrested on...
Judge rejects Hunter Biden’s bid to delay June trial on gun charges
Hunter Biden, son of U.S. President Joe Biden, arrives at the White House December 19, 2023 in Washington, DC. President Biden and family spent the weekend in Wilmington, Delaware.Drew Angerer | Getty Images News | Getty ImagesHunter Biden's federal gun case will go...
U.S., EU and NATO decry Georgia’s decision to adopt ‘Russian law’
Georgian President Salome Zurabishvili delivers a speech during an gathering celebrating Europe Day outside her residence in Tbilisi on May 9, 2024. (Photo by Vano SHLAMOV / AFP) (Photo by VANO SHLAMOV/AFP via Getty Images)Vano Shlamov | Afp | Getty ImagesGeorgian...
Netanyahu stands firm on Rafah offensive despite U.S. tensions
Watch the full interview live on CNBC here.Israeli Prime Minister Benjamin Netanyahu acknowledged tensions with historical ally the U.S. over the military offensive in Rafah in the Gaza Strip, but stood firm that the operation is required to protect Israeli...
Biden challenges Trump to two debates before election
President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22.Jim Watson and Brendan Smialowski | AFP | Getty ImagesPresident Joe Biden on Wednesday challenged...
Opening statements in corruption case
U.S. Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., May 14, 2024. Brendan Mcdermid | ReutersProsecutors and defense attorneys...
Biden signs bill banning imports of Russian uranium for nuclear fuel
Ready-to-ship canisters filled with enriched uranium at the Urenco USA uranium enrichment facility near Eunice, New Mexico, US, on Tuesday, July 11, 2023. Russia's invasion of Ukraine is forcing the US and Europe to search for alternative sources of enriched uranium...
TikTok creators sue U.S. government, say law violates First Amendment
TikTok creators gather before a press conference to voice their opposition to the "Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S.,...
Trump jet clipped parked plane after landing in Florida, FAA says
The plane of former US president Donald Trump takes off from Palm Beach International Airport in West Palm Beach, Florida, on April 3, 2023.Chandan Khanna | AFP | Getty ImagesThe wing of the Boeing jet owned by former President Donald Trump struck a parked plane at a...
Trump oil CEOs dinner: House Democrat probe
Rep. Jamie Raskin (D-MD) speaks during a House Committee on Oversight and Accountability hearing on Capitol Hill in Washington, DC, on September 28, 2023.Mandel Ngan | AFP | Getty ImagesThe House Oversight Committee's top Democrat asked oil executives to reveal...
Russia wants 3 things from China, says FPRI
Russian President Vladimir Putin's meeting with Chinese leader Xi Jinping in China this week is the latest sign of deepening strategic ties between both sides. Putin will make a two-day state visit to China from Thursday at the invitation of Xi, it was announced on...
Latest news on Russia and the war in Ukraine
Putin pitches the West as Russia's and China's mutual enemy ahead of talks with XiRussia's President Vladimir Putin has pitched the West and what he called "U.S.-led Western elites" as a mutual enemy of Russia and China, ahead of a two-day visit to Beijing where he...
India’s sticky inflation gives RBI reason to stay on hold, ET BFSI
India’s steady inflation and the threat of rising food prices will probably keep the central bank on hold for longer, with economists pushing out their expectations for interest rate cuts to later in the year.Consumer prices rose 4.83% in April from a year earlier,...
U.S. energy panel agrees to expand transmission of renewable power
Federal energy regulators on Monday approved a long-awaited rule to make it easier to transmit renewable energy such as wind and solar power to the electric grid — a key part of President Joe Biden's goal to eliminate carbon emissions economy-wide by 2050.The rule,...
China is engaged in ‘deliberate’ efforts to undermine the U.S. and Europe, says EU envoy Gitenstein
Mark Gitenstein, the U.S. ambassador to the EU, said China is deliberately distorting markets with a glut of cheap goods.Speaking to CNBC's Silvia Amaro on Tuesday, Gitenstein said China was "engaged in a deliberate effort to undermine economic sectors in both Europe...
Prosecutors ask judge to lift jail stay
Former US President Donald Trump's adviser Steve Bannon, who stands accused of fraud over funds raised to support the construction of US-Mexico border wall, attends a hearing in Manhattan, New York on January 12, 2023.Fatih Aktas | Anadolu Agency | Getty ImagesFederal...
Michael Cohen testifies, House Speaker Johnson watching
Michael Cohen is questioned by prosecutor Susan Hoffinger during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state court in New York...
Georgia passes Russia-style law on foreign influence despite protests
Georgian demonstrators protesting the controversial "foreign influence" bill stand in front of law enforcement officers blocking an area near the parliament building in Tbilisi on May 14, 2024.Vano Shlamov | Afp | Getty ImagesGeorgian lawmakers on Tuesday passed a...
Biden raises China tariffs on EVs, solar panels, batteries
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022.Kevin Lamarque | ReutersThe Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese...
What are RBI’s revised guidelines for custodian banks under T+1 settlement regime?, ET BFSI
The Reserve Bank of India (RBI) has revised guidelines for custodian banks pertaining to the issuance of Irrevocable Payment Commitments (IPCs) in response to the implementation of the T+1 settlement regime for stocks. Under these updated guidelines, custodian banks...
Wholesale inflation in April quickens to 13-month high of 1.26% on spikes in power, food prices, ET BFSI
India's wholesale price index-based inflation accelerated to 1.26 per cent in April on an annual basis as against 0.53 per cent in March, at a 13-month high, data from the Commerce Ministry on Tuesday showed.A Reuters poll showed that WPI inflation for April was...
U.S. orders Chinese-backed crypto miner to sell land near military base
US Treasury Secretary Janet Yellen delivers remarks at the Treasury Department's Committee on Foreign Investment in the United States conference at the Treasury Department in Washington, DC, on September 14, 2023. Olivier Douliery | Afp | Getty ImagesU.S. President...
India’s sticky inflation gives RBI reason to stay on hold, ET BFSI
India’s steady inflation and the threat of rising food prices will probably keep the central bank on hold for longer, with economists pushing out their expectations for interest rate cuts to later in the year.Consumer prices rose 4.83% in April from a year earlier,...
Latest news on Russia and the war in Ukraine
Ukraine derails Russian freight train in drone attack, Russian mediaA Ukrainian drone attack derailed a freight train and sparked a fire in a diesel tank in the southern Russian region of Volgograd, mangling several hundred meters of track, Russian media said on...
RBI’s investment in IIFC UK subsidiary fell by a fifth in FY23-24, ET BFSI
The RBI's investment in the state-owned India Infrastructure Finance Company (IIFC) UK subsidiary fell by a fifth from a year earlier to $932 million in FY’2023-24, according to the latest Half Yearly Report on Management of Foreign Exchange Reserve released on...
Judge scolds lawyers over ‘gamesmanship’
Senator Robert Menendez arrives at the federal courthouse in Manhattan, New York, United States on May 13, 2024. Fatih Aktas | Anadolu | Getty ImagesA judge on Monday admonished attorneys for playing legal games shortly after they convened for the start of the federal...
10 states with the most money
U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersThe Biden administration has announced $537 billion in infrastructure...
Yellen says Chinese response possible on expected U.S. tariff action
U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. Kent Nishimura | Getty ImagesThe United States could see a significant response...
Republican donors fund group doxxing pro-Palestinian students
A truck with a "Fire Gay" message drives through Harvard Square. The congressional testimony of Harvard University president Claudine Gay has caused a stir on campus on Dec 10th. 2023.Pat Greenhouse | Boston Globe | Getty ImagesA far-right activist group that is...
U.S.’ Blinken criticizes Israel’s Gaza operations
U.S. Secretary of State Antony Blinken is welcomed by Israeli Ambassador to the U.S. Mike Herzog, as he arrives at Ben Gurion Airport near Tel Aviv, Israel, April 30, 2024. Evelyn Hockstein | ReutersU.S. Secretary of State Antony Blinken issued harsh words for Israel,...
Michael Cohen testifies against former president
Michael Cohen, former attorney for Donald Trump, arrives to the New York Courthouse on March 13, 2023.Eduardo Munoz | ReutersMichael Cohen, who spent years working as the personal lawyer and fixer for Donald Trump, is set to testify Monday against the former president...
Thousands in Georgia’s capital protest Russia-style foreign agents law
Police Force attend a protest against the foreign agents law as two Americans and one Russian citizen are among 20 detained on May 13, 2024 in Tbilisi, Georgia.Daro Sulakauri | Getty Images News | Getty ImagesThousands of people took to the streets of Georgia's...
How will RBI’s new finance norms impact real estate projects?, ET BFSI
The Reserve Bank of India's (RBI) proposed guidelines on project financing could potentially impact shareholders, particularly in the infrastructure and real estate sectors. The draft norms suggest that banks should set aside provisions of up to 5% of the loan amount...
Catalan separatists lose majority as Spain’s pro-union Socialists win regional elections
Six years after plunging Spain into its worst political crisis in decades, Catalonia's separatist parties are in danger of losing their hold on power in the northeastern region after the pro-union Socialist Party scored a historic result in Sunday's election.The four...
Will RBI cut rates in the MPC meeting on June 7 after election results?, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting scheduled for June 7, 2024, is set to meet in the immediate backdrop of Lok Sabha election results.However, analysts see the central bank assessing a potential interest rate cut only in the...
Latest news on Russia and the war in Ukraine
19 dead and dozens injured after strikes on Belgorod, Russian officials sayRussian officials said at least 19 people were killed and 27 injured during Ukrainian missile attacks on the border region of Belgorod this weekend.Belgorod Governor Vyacheslav Gladkov,...
BOE sends clearest sign yet of interest-rate cuts, ET BFSI
The Bank of England sent its clearest signal yet that it was closing in on interest-rate cuts, with Governor Andrew Bailey indicating markets were underpricing the pace of easing in the months ahead.The BOE governor made his comments after the UK central bank voted...
A challenging star witness in Donald Trump’s hush money trial
Michael Cohen, former attorney for Donald Trump, leaves after attending the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York City on Oct. 24, 2023.Jeenah Moon | ReutersHe once said he would take a bullet for...
Donald Trump shuts down Nikki Haley VP rumors
Combination showing Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley (L) and Former U.S. President and Republican presidential candidate Donald Trump, campaigning in New Hampshire on Jan. 23rd, 2024.ReutersDonald Trump on...
How the 45-day rule clause in I-T Act causing hurdles for MSME businesses?, ET BFSI
How the 45-day rule clause in I-T Act causing hurdles for MSMEs businesses?The 45-day rule for the MSME businesses has been in an imbroglio since it came into effect. This has happened to such an extent that the associations have moved the Supreme Court, urging its...
RBI looks at asset reconstruction companies amid a flood of allegations, ET BFSI
India’s central bank leadership is scheduled to meet the top management of asset reconstruction companies (ARC) next week to discuss corporate governance and stressed-asset resolutions amid concerns of potential back-door entry by defaulting promoters, people with...
R Lakshmi Kanth Rao apointed as RBI’s Executive Director, ET BFSI
The Reserve Bank of India (RBI) on Friday appointed of R. Lakshmi Kanth Rao as Executive Director (ED). It said that the appointment will be effective from May 10 (Friday) itself.Prior to being promoted as ED, Rao was serving as Chief General Manager-in-Charge in the...
Biden and Netanyahu’s fraught relationship hits new low
Israeli army main battle tanks and other military vehicles are positioned in southern Israel near the border with the Gaza Strip on May 9, 2024, amid the ongoing conflict in the Palestinian territory between Israel and the Hamas movement.Ahmad Gharabli | AFP | Getty...
Trump White House aide Steve Bannon contempt of Congress conviction upheld
Steve Bannon, former adviser to Donald Trump, arrives to federal court in Washington, D.C., U.S., on Wednesday, March 16, 2022.Ting Shen | Bloomberg | Getty ImagesA federal appeals court on Friday upheld the criminal contempt of Congress conviction of former Trump...
Top White House aide resumes testimony in hush money case
Madeleine Westerhout, a former Trump executive assistant, departs Manhattan Criminal Court on May 09, 2024 in New York City.Michael M. Santiago | Getty ImagesThis is developing news. Check back for updates throughout the day.A former top White House aide with deep...
RBI’s project finance norms to prepare banks to move to ECL regime say experts, ET BFSI
The Reserve Bank of India (RBI) released draft guidelines on project finance provisions on May 3, aiming to prepare the banking industry for a transition from the current incurred loss based provisioning model to the expected credit loss (ECL) regime, taking advantage...
Latest news on Russia and the war in Ukraine
Russia ramps up ground attacks in eastern Ukraine ahead of the arrival of Western military aidUkrainian soldiers prepare a mortar in the direction of Chasiv Yar as the war between Russia and Ukraine continues in Donetsk Oblast, Ukraine on May 7, 2024.Anadolu | Anadolu...
Appeals court refuses to toss Delaware case
Hunter Biden, son of U.S. President Joe Biden, arrives for a closed deposition with members of the Republican-led House Oversight Committee conducting an impeachment inquiry into the president, at the O'Neill House Office Building in Washington, U.S., February 28,...
Trump Media investor convicted of insider trading ahead of merger
Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023.Amr Alfiky | ReutersA federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in...
Supreme Court rules against Warner Music in copyright damages case
Flo Rida performs onstage at the Teen Choice Awards on Sunday, July 22, 2012, in Universal City, Calif. (Photo by John Shearer/Invision/AP)John ShearerThe U.S. Supreme Court on Thursday ruled in favor of a Miami music producer in a legal fight with Warner Music over a...
Stormy Daniels resumes testimony in hush money case
Former US President Donald Trump speaks to the press before his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 9, 2024.Angela Weiss | ReutersThis is developing news. Check back...
Corporate leaders and wealthy donors want a say
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersFormer President Donald Trump and people close to him are fielding calls from corporate leaders...
Biden says U.S. won’t supply weapons for Israel to attack Rafah, in warning to ally
U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersPresident Joe Biden said Wednesday that he would not supply offensive...
What’s the new RBI proposal giving cold sweats to lenders?, ET BFSI
For quite some time, the Reserve Bank of India (RBI) has been warning against incipient risks in banking. Its hard-hitting actions against HDFC, Paytm, Bajaj Finance and recently against Kotak Mahindra Bank for various non-compliances and regulatory laxities have...
European Union will soon get a new leadership team. Here are the names
European Commission President Ursula von der Leyen has pushed for a policy of derisking from China.Frederick Florin | Afp | Getty ImagesBRUSSELS, Belgium — European diplomats have already started key negotiations on who will take the main jobs at the European Union...
INDIA RUPEE-Rupee ticks higher on inflows, importer dollar demand caps gain, ET BFSI
By Jaspreet KalraMUMBAI, - The Indian rupee rose slightly on Thursday aided by likely dollar inflows, even as most Asian currencies slipped amid a rise in U.S. bond yields.The rupee was at 83.49 against the U.S. dollar as of 11:45 a.m. IST, against its close at...
Latest news in Russia and the war in Ukraine
Russia 'will not allow anyone to threaten us,' Putin tells Victory ParadeRussian President Vladimir Putin watches a military parade on Victory Day, which marks the 77th anniversary of the victory over Nazi Germany in World War Two, in Red Square in central Moscow,...
RBI talks UPI scale-up with companies, BFSI News, ET BFSI
Mumbai: Payments for minors and senior citizen-friendly features were some of the proposals discussed during a meeting convened by RBI with UPI players.RBI governor Shaktikanta Das on Wednesday convened a meeting of banks, leading third-party UPI apps, and NPCI. Banks...
Former MGM Grand casino president to be sentenced over illegal bets
Resorts World Las Vegas President Scott Sibella speaks during the opening of Resorts World Las Vegas on June 24, 2021 in Las Vegas, Nevada. Ethan Miller | Getty ImagesThe former president of the MGM Grand casino in Las Vegas is set to be sentenced Wednesday afternoon...
RBI Governor meets UPI stakeholders to discuss expansion potential, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, held a meeting on Wednesday with the major stakeholders in the UPI ecosystem such as Banks, National Payments Corporation of India (NPCI), Third Party Application Providers and Technology Service Providers....
Georgia appeals court will hear Trump bid to disqualify D.A. Fani Willis in election case
Fani Willis, the district attorney of Fulton County, Georgia, photographed on Sept. 20, 2022, and former President Donald Trump, photographed on Aug. 8, 2023.Scott Eisen | Getty ImagesA Georgia appeals court Wednesday agreed to hear a bid by Donald Trump to disqualify...
World Bank India chief, ET BFSI
World Bank’s Country Director for India, Dr Auguste Tano KouaméThe World Bank’s Country Director for India, Dr Auguste Tano Kouamé, on Wednesday said that for the 8% growth rate for India, there is a need for increase in the private investment apart from the public...
Trump classified documents trial in Florida postponed indefinitely
Republican presidential candidate and former U.S. President Donald Trump gestures while he walks with his attorney Todd Blanche, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016...
How RBI is easing banking liquidity amid election slowdown in govt spending, ET BFSI
The Reserve Bank of India (RBI) is taking steps to address liquidity constraints within the banking system, as the ongoing 2024 national elections, spanning over six weeks, have led to a slowdown in government spending despite robust tax collections.With voting...
Biden to unveil $3.3 billion Microsoft AI investment in battleground Wisconsin
Construction at Foxconn complex in Mt. Pleasant, Wisconsin in August 2020.Brian Snyder | ReutersPresident Joe Biden will visit the political battleground state of Wisconsin on Wednesday to announce plans by Microsoft Corp to build a $3.3 billion high-tech data center...
RBI’s latest norms may derail Modi govt’s flagship economy driver, ET BFSI
A wary Reserve Bank of India will likely enforce a rule that could dampen the spirits of India’s capital expenditure momentum, a highlight of the Narendra Modi government’s tenure at the Centre.RBI has issued draft guidelines asking lenders in India to increase their...
CEA V Anantha Nageswaran, ET BFSI
CEA with other dignitaries at an event organised by NCAER in New Delhi.NEW DELHI: Chief Economic Adviser (CEA) V Anantha Nageswaran bets on the high possibility of India’s 8% growth rate in the Financial Year 2024. At an event organised by NCAER in New Delhi, the CEA...
U.S. probe finds widespread sexual misconduct at FDIC
Federal Deposit Insurance Corporation (FDIC) building is seen in Washington DC, United States on April 2, 2023.Celal Gunes | Anadolu Agency | Getty ImagesThe Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and...
Govt evaluating RBI proposal for higher infrastructure provisioning; bankers, NBFCs voice concern, ET BFSI
New Delhi|Mumbai: The government is evaluating Reserve Bank of India draft rules calling for higher provisioning in infrastructure projects, while lenders are likely to oppose them on multiple forums. Officials cited concerns that they could lead to a rise in interest...
U.S. paused shipment of weapons to Israel to head off Rafah invasion, says official
Israeli army tanks take position in southern Israel near the border with the Gaza Strip on May 7, 2024, amid the ongoing conflict between Israel and the Palestinian Hamas movement. Menahem Kahana | Afp | Getty ImagesU.S. President Joe Biden's administration paused...
India sees no ‘nasty’ upside to inflation, govt adviser says, BFSI News, ET BFSI
NEW DELHI -India does not see any nasty upside to inflation at the moment, and expects its economy to expand by more than 7% in the current fiscal year, V. Anantha Nageswaran, the government's chief economic adviser, said on Wednesday.Annual retail inflation rate...
India’s growth can top 6.5% for a decade, says CEA Nageswaran, ET BFSI
Chances are “quite high” that India’s growth exceeded 8% in the fiscal year that ended in March and the economy will likely expand more than 7% in the current financial year, he said. The rainfall pattern in the months ahead will be crucial for the growth outlook, he...
Latest news on Russia and the war in Ukraine
Russia used more than 50 missiles and 20 drones in overnight attacks, Zelenskyy saysRussia used dozens of missiles and drones to attack Ukraine's infrastructure overnight, Ukraine's President Volodymyr Zelenskyy said Wednesday morning."More than 50 rockets and more...
LockBit ransomware indictment and reward for Russian
Zoom In IconArrows pointing outwardsDmitry Yuryevich Khoroshev, Russian national and a leader of LockBit. Courtesy: U.S. Department of the TreasuryFederal prosecutors on Tuesday announced criminal charges against a Russian national, Dmitry Yuryevich Khoroshev, for...
SEC Chair Gensler dodges Trump Media campaign finance questions
Securities and Exchange Commission Chair Gary Gensler on Tuesday refused to comment on speculation of whether Trump Media is a funding organ for Donald Trump's presidential campaign."I'm not going to speak on any one company," Gensler said in an interview on CNBC's...
Biden set to meet with executives from Citi, United Airlines & others
US President Joe Biden speaks about his Investing in America agenda at the Wilmington Convention Center in Wilmington, North Carolina, on May 2, 2024. Mandel Ngan | AFP | Getty ImagesPresident Joe Biden is set to meet Tuesday afternoon with a slate of executives from...
RBI tanks up on 18.5 tonnes of gold in Jan-Mar, exceeding 2023 tally, ET BFSI
Global central banks continued to bolster their gold reserves in March, with significant purchases led by emerging market banks, according to data from the World Gold Council (WGC). Central banks collectively added 16 tonnes of gold to their reserves during the month,...
Ex-president posts — then deletes — message about witnesses
Republican presidential candidate and former U.S. President Donald Trump sits in the courtroom, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court...
Trump trial witness David Pecker targeted by ‘swatting’ at his home, Reuters reports
Former National Enquirer publisher David Pecker speaks from the witness stand during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state...
Will RBI’s draft guidelines on project financing tighten infra funding?, ET BFSI
The Reserve Bank of India (RBI) has proposed draft guidelines on project financing that could significantly impact lenders by imposing heightened provisioning requirements. Under these guidelines, lenders would be required to set aside provisions of up to 5% of...
Abortion bans drive away young talent: New CNBC/Generation Lab survey
Young people are seen on the Emory University campus in Atlanta, Georgia on October 14, 2022. Elijah Nouvelage | AFP | Getty ImagesThe youngest generation of American workers is prepared to move away from states that pass abortion bans and to turn down job offers in...
Worries build up over RBI strictures on infra financing, BFSI News, ET BFSI
Mumbai: Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India's tougher draft guidelines on the financing and accounting of project loans. The proposed stricter...
Private digital currencies potentially dangerous, CBDC a safer alternative: RBI Governor, ET BFSI
Reserve Bank of India Governor Shaktikanta DasReserve Bank of India Governor Shaktikanta Das said on Monday that Central Bank Digital Currency (CBDC) or digital currency, can drive financial inclusion and provide a much safer alternative to potentially dangerous...
Latest news on Russia and the war in Ukraine
China says Russia should be included in upcoming Ukraine peace summitChina's ambassador to Russia told Russian media Tuesday that Moscow should be included in a forthcoming Ukraine peace summit to be held in Switzerland.Ambassador Zhang Hanhui told RIA Novosti that...
Six-week long election leaves RBI with liquidity dilemma, ET BFSI
RBI is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending despite strong tax collections.Voting in national elections began on April 19 and will conclude on June 1, with counting...
Israeli forces take control of the Gaza side of the Rafah border crossing with Egypt
Smoke billows after Israeli bombardment in Rafah, in the southern Gaza Strip on May 6, 2024, amid the ongoing conflict between Israel and the Palestinian militant group Hamas.- | Afp | Getty ImagesAn Israeli tank brigade seized control Tuesday of the Gaza Strip side...
Rupee flat as traders remain wary of central bank intervention at weaker levels, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was little changed on Tuesday as traders remained shy of pushing the local currency to weaker levels on expectations that the Reserve Bank of India (RBI) would intervene to prevent a sharp fall.The rupee was at 83.4750...
Hamas says it accepts cease-fire proposal from Egyptian, Qatari mediators
Chairman of the Hamas Political Bureau, Ismail Haniyeh speaks to press as he pays a visit to Palestinian photojournalist Ashraf Amra, a freelancer for Turkiye's premier news agency Anadolu who was severely injured on his hand by Israeli army fire while covering a...
RBI working to make digital currency accessible without internet: Guv Das, ET BFSI
RBI working to make digital currency accessible without internet: Guv DasThe Reserve Bank of India (RBI) is working to make its digital currency available without being dependent on internet access, Governor Shaktikanta Das said on Monday. While speaking at the BIS...
Trump Media hires new auditor after accounting firm charged with fraud
Omar Marques | Lightrocket | Getty ImagesTrump Media hired a new auditor over the weekend, after its previous public accounting firm was accused Friday of perpetrating a massive fraud by the Securities and Exchange Commission.The Truth Social owner fired BF Borgers...
Trump trial resumes after week of tears, gag order threats
Former US President Donald Trump attends the first day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on April 15, 2024.Angela Weiss | AFP | Getty ImagesThis is developing news....
Putin orders tactical nuclear weapon drills to deter the West
Russian President Vladimir Putin delivers a speech during а meeting of the Federal Assembly's Council of Legislators in Saint Petersburg, Russia, April 26, 2024.Alexey Danichev | Via ReutersRussia said on Monday it would practise the deployment of tactical nuclear...
Why RBI’s dividend payout to govt this year will be lower, ET BFSI
The Reserve Bank may transfer a lesser dividend to the government for FY'2023-24 compared to previous year's bumper Rs 87416 crore. An explainer on why the dividend will be lower. The budget estimates dividend transfer in FY'2024-25 at Rs 1.02 lakh crore from the...
Trump's porn star hush-money trial enters week four: Here’s what’s happened so far
Trump's historic criminal trial enters week four.
Home loan outstanding up by Rs 10 lakh crore in last two years: RBI data, ET BFSI
NEW DELHI: Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'.Experts from banking and real estate...
UPDATE 1-India’s 6-week long national election leaves cenbank with liquidity dilemma, ET BFSI
(Recasts paragraph 1, updates with comments from economists, background)MUMBAI, - India's central bank is stepping in to ease banking system liquidity conditions as a national election which stretches over six weeks is hurting government spending despite strong tax...
Israeli military tells Palestinian civilians in parts of Rafah to ‘evacuate immediately’
Children stand outside their tents at a camp set up for people displaced from Khan Yunis and areas north of Rafah, in the southern Gaza border city with Egypt on Feb. 15, 2024, amid continuing battles between Israel and the Palestinian Hamas movement. Mohammed Abed |...
Trump VP hopeful Kristi Noem suggests Biden’s dog should be put down
South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Shannon Stapleton | ReutersRepublican South Dakota Gov. Kristi Noem implied that President Joe...
China’s president arrives in Europe to reinvigorate ties at a time of global tensions
Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. Ludovic Marin | AFP | Getty ImagesChinese President Xi Jinping kicked off a three-country trip to Europe on Sunday with the...
Netanyahu’s Cabinet votes to close Al Jazeera offices in Israel
(EDITORS NOTE: Image depicts death.) Wael Al-Dahdouh, Al Jazeera bureau chief in Gaza, center, comforts relatives at the funeral of his son, Al Jazeera journalist Hamza Dahdouh, killed in an Israeli airstrike, in Rafah, southern Gaza, on Sunday, Jan. 7, 2024. US...
France’s Macron set to press visiting Xi on trade, Ukraine
Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. Ludovic Marin | AFP | Getty ImagesChina's President Xi Jinping heads to Paris on Sunday for a rare visit, with his French...
Labour’s Sadiq Khan wins re-election as London mayor
Mayor of London Sadiq Khan hopes to convince U.S. tech firms to invest more in London.Leon Neal | Getty ImagesSadiq Khan was re-elected as London's mayor, final results showed on Saturday, helping to cement the Labour Party's commanding lead over the governing...
Why election polls were wrong in 2016 and 2020 — and what’s changing
Voters fill out their ballots on January 23, 2024 in Loudon, New Hampshire. With Florida Governor Ron DeSantis dropping out of the race two days earlier, Republican presidential candidates former President Donald Trump and former UN Ambassador Nikki Haley are battling...
RBI directs banks to restrict capital market exposure, BFSI News, ET BFSI
New Delhi [India], May 3 (ANI): The Reserve Bank of India (RBI) has issued directives to banks regarding their exposure to the capital markets, emphasizing compliance with prescribed guidelines. The latest circular, pertains specifically to the "Banks' Exposure to...
RBI imposes monetary penalty on Satara Sahakari Bank Limited, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has taken stringent action against The Satara Sahakari Bank Limited, Mumbai, Maharashtra, by imposing a monetary penalty of Rs 2 lakh for non-compliance with certain provisions of the Banking Regulation Act, 1949 (BR Act) and RBI...
Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity, ET BFSI
Mumbai: In a move that will ease the prevailing tight liquidity conditions in the banking system, the Reserve Bank of India on Friday said the Centre plans to buy back Rs 40,000 crore worth of government securities on May 9, the first such repurchase since 2018.The...
RBI issues draft guidelines on infrastructure finance, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has proposed to overhaul rules governing project lending to enable the flow of funds to infrastructure and, at the same time, ensure that the risk metrics are under control. It has stipulated minimum exposure of banks in consortium...
Centre for Financial Accountability urges RBI to broaden scope of climate-related financial risk framework, ET BFSI
In response to the Reserve Bank of India's (RBI) 'Draft Disclosure Framework on Climate-Related Financial Risks' released in February 2024, the Centre for Financial Accountability (CFA) has advocated for an expanded approach to assessing and addressing climate-related...
RBI proposes minimum loan exposure for project finance by banks, ET BFSI
The Reserve Bank of India (RBI) unveiled draft guidelines on project financing aimed at enhancing transparency and risk management in consortium lending, proposing a minimum loan exposure floor for banks and mandated standards for asset provisioning during project...
Guo Wengui chief of staff pleads guilty to $1 billion fraud
Fugitive Chinese billionaire Guo Wengui hold a news conference on November 20, 2018 in New York, on the death of of tycoon Wang Jian in France on July 3, 2018.Don Emmert | AFP | Getty ImagesThe chief of staff to controversial exiled Chinese businessman Guo Wengui...
Trump Media auditor charged by SEC with ‘massive fraud,’ permanently barred from public company audits
Rafael Henrique | Lightrocket | Getty ImagesThe auditing firm for Trump Media and the auditor's owner were charged Friday with "massive fraud" by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator...
Trump trial resumes after infamous Cohen phone call tape is played for jury
Former U.S. President Donald Trump attends the first day of his trial for allegedly covering up hush money payments at Manhattan Criminal Court on April 15, 2024 in New York City. Angela Weiss | Getty ImagesThis is developing news. Check back for updates throughout...
Forget any rate cut in 2024! What experts are predicting after Fed meeting, ET BFSI
Global stock markets heaved a sigh of relief last night when the world's most powerful central banker Jerome Powell assured investors that it is unlikely for the US Federal Reserve to go for a rate hike. After the Dow Jones ended higher overnight, the Sensex was also...
Trump SEC would end climate disclosure rule, target ESG investments
Republican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersThe Securities and Exchange Commission under a second Donald Trump presidency would roll back the...
Latest news on Russia and the war in Ukraine
German foreign minister says there will be consequences for Russian cyberattackAnnalena Baerbock (Alliance 90/The Greens), Foreign Minister, looks at a screen displaying a cyber exercise in the Australian Center for Cyber Cooperation.Sina Schuldt | Picture Alliance |...
Britain’s ruling Conservatives hit with another local defeat as general election nears
New Labour Party MP for Blackpool South, Chris Webb (C) reacts as his win is announced at the count centre in Blackpool, north-west England on May 3, 2024, during the Blackpool South by-election. Oli Scarff | Afp | Getty ImagesU.K. leader Rishi Sunak's Conservative...
RBI says 97.76% of Rs 2000 currency notes returned, BFSI News, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public.On May 19, 2023, the RBI announced the...
Trump campaign lawyers can’t quit workplace discrimination case
Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally at Ted Hendricks Stadium in Hialeah, Florida, U.S. November 8, 2023. Octavio Jones | ReutersA New York federal judge on Thursday rejected — for now, at least — a request by...
U.S. intelligence chief warns Congress of rise in cyberattacks
Director of National Intelligence Avril Haines testifies before the Senate Armed Services Committee May 2, 2024 in Washington, DC.Win Mcnamee | Getty Images News | Getty ImagesThe top U.S. intelligence official warned Congress of an alarming rise in cyberattacks at a...
Trump Media IDs firms for House short selling probe
Omar Marques | Lightrocket | Getty ImagesThe CEO of Trump Media urged leading House committee chairmen to investigate eight financial firms over concerns of potentially illicit short selling of DJT, whose majority shareholder is former President Donald Trump."I...
Lawyer behind Stormy Daniels hush money payment testifies
Republican presidential candidate and former U.S. President Donald Trump walks, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court in New York...
‘Basel III’ bank rules could pose unexpected threat to Biden’s green energy plans
WASHINGTON, D.C. - On a rooftop overlooking Gallaudet University in Washington, D.C., Julian Torres stands next to row after row of solar panels his company, Scale Microgrids, helped install as part of a larger system of renewable energy that has saved the college...
Biden blames China, Japan and India’s economic woes on ‘xenophobia’
President Joe Biden said on Wednesday that "xenophobia" from China to Japan and India is hobbling their growth, as he argued that migration has been good for the U.S. economy.Kevin Lamarque | ReutersPresident Joe Biden said on Wednesday that "xenophobia"...
U.S. issues hundreds of sanctions targeting Russia, takes aim at Chinese companies
Ukrainian servicemen ride on an armored personnel carrier in a field near Chasiv Yar, Donetsk, on April 27, 2024, amid the Russian invasion of Ukraine. Genya Savilov | Afp | Getty ImagesThe United States on Wednesday issued hundreds of fresh sanctions targeting Russia...
Trump’s potential VP picks and major Republican donors are coming to Mar-a-Lago
Former U.S. President Donald Trump delivers remarks on the day of his court appearance in New York after being indicted by a Manhattan grand jury following a probe into hush money paid to porn star Stormy Daniels, in Palm Beach, Florida, U.S., April 4, 2023. Marco...
Lenders seek RBI clearance to sell Jaiprakash Associates loan to NARCL, ET BFSI
Mumbai: Lenders led by the State Bank of India have sought approval from the Reserve Bank of India to sell the ₹18,000 crore debt of realty company Jaiprakash Associates (JAL) to the National Asset Reconstruction Company of India (NARCL), said people with knowledge of...
Fed cites lack of progress on inflation, holds rates steady, ET BFSI
Washington: The Federal Reserve signaled fresh concerns about inflation as it reaffirmed it needs more evidence that price gains are cooling before cutting interest rates from a two-decade high.Officials unanimously decided to leave the target range for the benchmark...
Latest news on Russia and the war in Ukraine
Georgian police disperse protesters as parliament approves 'foreign bill' second readingDemonstrators set up a barricade to block the side entrance of Georgian Parliament during a rally against a controversial "foreign influence" bill, after parliament advanced the...
Trump campaign lawyers seek to quit discrimination case
Presidential candidate Donald Trump gestures in a press conference unveiling his comprehensive tax reform plan at Trump Tower. Andy Katz | Lightrocket | Getty ImagesA federal judge in New York scheduled a closed-door meeting Wednesday afternoon on a request by lawyers...
Harvey Weinstein will be retried in New York after rape conviction overturned
Harvey Weinstein uses a walker as he arrives at the Manhattan Criminal Court, on January 7, 2020 on the second day of his criminal trial on charges of rape and sexual assault in New York City.Timothy A. Clary | AFP | Getty ImagesHarvey Weinstein will be retried in New...
DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
Nicolas Economou | Nurphoto | Getty ImagesThe Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor named Roger Ver. He came to be known as "Bitcoin Jesus," for getting in early on the digital currency and making a...
DJT shares crack $50 as Trump Media continues stock bounce back
Former US president Donald Trump announced plans on October 20 to launch his own social networking platform called "TRUTH Social," which is expected to begin its beta launch for "invited guests" next month.Chris Delmas | AFP | Getty ImagesTrump Media shares opened...
Trump could drive inflation up with second-term economic agenda, analysts say
Republican presidential candidate former President Donald Trump speaks to guests during a rally at Clinton Middle School on January 06, 2024 in Clinton, Iowa. Scott Olson | Getty Images News | Getty ImagesFormer President Donald Trump is building a second-term...
Trump receives 36 million more shares of Trump Media as bonus
Republican presidential candidate and former U.S. President Donald Trump gestures as he arrives to Trump tower during the day of his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in New York...
Ex-RBI Guv Duvvuri Subbarao, ET BFSI
Former RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance...
Trump Media insider trading trial begins in New York
Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023.Amr Alfiky | ReutersThe federal criminal trial of a man accused of insider trading in shares of a shell company ahead of its announcement of a plan to merge with...
New York City police arrest dozens of pro-Palestinian protesters in Columbia University raid
NYPD officers arrest students as they evict a building that had been barricaded by pro-Palestinian student protesters at Columbia University, in New York City on April 30, 2024.Charly Triballeau | AFP | Getty ImagesNew York City police arrested dozens of...
Central bank bars P2P startups from giving default loss guarantee in tie-ups with NBFCs, ET BFSI
The central bank has said peer-to-peer lending platforms cannot offer any default loss guarantee (DLG) to investors, as it furthers scrutiny on the digital lending sector.The Reserve Bank of India’s directive dated April 26 is likely to impact operations of P2P...
police crack down on protests in Georgia
Protestors clash with the police as they block the exists of the parliament building to prevent the ruling Georgian Dream Party's deputies from leaving within a protest against the bill on 'Transparency of Foreign Influence,' in Tbilisi, Georgia on April 30, 2024....
RBI updates guidance note on operational risk management, extends it to NBFCs, ET BFSI
The Reserve Bank on Tuesday updated its "guidance note" on operational risk management for the financial sector, and also extended it to the NBFCs, including housing finance companies. The 2005 'Guidance Note on Management of Operational Risk' covered only commercial...
RBI cautions banks on gold loan disbursals through fintech startups, ET BFSI
The Reserve Bank of India (RBI) has cautioned banks about gold loan disbursals being made through fintech startups, according to people familiar with the matter. The central bank has flagged “concerns with the evaluation process” by these banks and fintechs,...
Latest news on Russia and the war in Ukraine
Russia could be shifting focus onto strategic target, Chasiv YarRussian forces appear to be shifting their operational focus on to Chasiv Yar in the northern area of Donetsk, in eastern Ukraine.Russia did not make any confirmed advances in the Avdiivka area for the...
Trump Media shares rise again; are up 50% in the last week
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares climbed 7% Tuesday, continuing a rise that has seen the Truth Social owner surge about 50% in the past week.DJT was trading at roughly $50 a share, about 30% below its opening price of $70.90 in late March.The...
Biden replaces Obama infrastructure policy amid Chinese cyberthreats
US President Joe Biden speaks after signing the foreign aid bill at the White House in Washington, D.C., on April 24, 2024.Jim Watson | AFP | Getty ImagesPresident Joe Biden on Tuesday updated a more than decade-old policy to protect U.S. critical infrastructure...
Hush money case resumes with testimony from Michael Cohen banker
Former U.S. President Donald Trump speaks to members of the media at Manhattan criminal court in New York, U.S., on Friday, April 26, 2024. Curtis Means | Via ReutersThis story is developing. Check back for updates throughout the day.The New York criminal trial of...
Save lakhs in interest cost? What RBI’s new rules for interest overcharging on loans mean for borrowers, ET BFSI
Has your lender been overcharging you interest for loans? The Reserve Bank of India has come across instances of lenders resorting to certain unfair practices in charging of interest. The same has been flagged by the central bank in a new notification dated April 29,...
RBI issues draft framework for electronic trading platforms, BFSI News, ET BFSI
The Reserve Bank of India on Monday proposed a revised regulatory framework for Electronic Trading Platforms (ETPs) in the wake of increased integration of the onshore forex market with offshore markets. Market makers too have been requesting the Reserve Bank to allow...
RBI directs lenders to review their lending practices in line with fair practice code, ET BFSI
The Reserve Bank of India (RBI) on Monday directed regulated entities to review their lending practices in line with fair practice code after it found that some lenders are resorting to certain unfair practices in charging interest rates, a statement issued by the...
RBI launches two key surveys for monetary policy inputs, BFSI News, ET BFSI
MUMBAI: The Reserve Bank of India (RBI) on Monday announced the launch of 'Inflation Expectations Survey of Households' and 'Consumer Confidence Survey' which will provide key inputs for the bi-monthly monetary policy. The next bi-monthly monetary policy is scheduled...
Understanding the impact on MSMEs, startups & other sectors, ET BFSI
Evergreen loans pose a systemic risk to the financial system. These are essentially loans that are perpetually renewed, preventing genuine repayment and masking potential defaults.In scaling up any business, the initial hurdle often revolves around the requirement for...
Latest news on Russia and the war in Ukraine
Russia likely used ballistic missile with cluster warhead in Odesa attack, official saysRussian forces used an Iskander missile armed with a cluster warhead to carry out the deadly strike on a crowded seaside area of Odesa on Monday, an official said.Dmytro...
Trump Media shares soar more than 12% in afternoon trading
Jonathan Raa | Nurphoto | Getty ImagesThe share price of Trump Media soared by more than 12% in afternoon trading Monday, continuing a stunning rise that began in mid-April.The DJT ticker was up more than $5 per share just before 1 p.m. ET.Trump Media owns the Truth...
Supreme Court denies Trump aide Navarro’s jail release bid
Former Donald Trump adviser Peter Navarro holds a press conference before turning himself into a federal prison on March 19, 2024, in Miami, Florida. Joe Raedle | Getty ImagesThe Supreme Court on Monday denied a request by Peter Navarro, a former advisor to...
Scottish First Minister Humza Yousaf resigns
Scottish First Minister Humza Yousaf speaks to the media during a visit to a housing development on April 26, 2024 in Dundee, Scotland. Jeff J Mitchell | Getty ImagesScottish First Minister Humza Yousaf resigned Monday after the collapse of his power-sharing agreement...
Trump VP contender Kristi Noem defends dog killing amid ridicule
South Dakota Governor Kristi Noem greets former U.S. President and Republican presidential candidate Donald Trump before he speaks at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. Jonathan Ernst | ReutersRepublican South...
Germany’s AfD is finding success on TikTok as its youth vote grows
Cardboard stands with the AfD logo lie on the chairs in the Wiesenhalle before the start of the AfD Brandenburg state party conference.Monika Skolimowska/dpa | Picture Alliance | Getty ImagesGermany's far-right Alternative für Deutschland (AfD) has gone from the...
Expectations of future monetary policy impact stock markets more than rate announcements: RBI paper, ET BFSI
MUMBAI: Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy by the Reserve Bank, said an analysis. According to a working paper prepared by RBI officials, the regulatory...
Only U.S. has the ability to break the cycle of Gaza violence: Egyptian foreign minister
Egypt's Foreign Minister Sameh Shoukry called on the U.S. to leverage its influence over Israel to prevent further bloodshed in Gaza.Speaking to CNBC's Dan Murphy on Sunday at a World Economic Forum meeting in Riyadh, Saudi Arabia, he said "only the United States has...
Powell poised to keep Fed on higher-for-longer path, ET BFSI
Jerome Powell's remarks in the coming week will be closely parsed by investors for any clues on just how long the Fed is willing to wait before cutting interest rates. The last time the US central bank chair spoke, he signaled that policymakers were likely to keep...
Latest news on Russia and the war in Ukraine
Ukraine desperate for U.S. military aid to arriveUkrainian President Volodymyr Zelenskyy gestures during a press conference on the day of the Ukraine Southeast Europe Summit in Tirana, Albania, February 28, 2024. Florion Goga | ReutersUkraine's President Volodymyr...
RBI MPC member, BFSI News, ET BFSI
New Delhi, Unemployment is highest for younger age brackets, but it is 'transient' as Indian youths spend more time acquiring skills and trying hands at entrepreneurship, RBI Monetary Policy Committee (MPC) member Ashima Goyal has said. There is steady improvement in...
RBI draft rules, ET BFSI
The Reserve Bank of India (RBI) has released a draft circular outlining a framework for loan product aggregation by lending service providers (LSPs) to enhance transparency for borrowers in the credit intermediation process. This initiative aims to address the...
Sebi allows AIFs to pledge shares in invested cos in infra sector, ET BFSI
New Delhi, To facilitate ease of doing business, markets regulator Sebi on Friday allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector. The regulator has also provided additional flexibility to AIFs and...
RBI sets rules for loan e-aggregators, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India has updated its guidelines for web aggregators of loans to ensure that consumers get a fair and transparent deal. The RBI has also clarified guidelines on loss default guarantees that can be provided by fintechs to lenders on personal...
HC asks RBI to relook at valuation, BFSI News, ET BFSI
MUMBAI: The Madras HC has asked RBI to carry out a valuation of shares and assets of DBS Bank India and Lakshmi Vilas Bank as on the date before their amalgamation in Nov 2020. RBI has been asked to take a fresh decision on reduction of the value of shares and writing...
Oil refinery in Russia region damaged in Ukraine drone attack: Authorities
Slavyansk oil refinery in Russia's Krasnodar region was damaged in a Ukraine drone attack, local authorities said on Saturday. There were a total of nine attacks on the tank farm and distillation column, Roman Siniagovskyi, head of the Slavyansk administrative...
FPI investment limit in g-sec unchanged at 6% of outstanding stocks of securities for FY25: RBI, ET BFSI
The Reserve Bank on Friday said the limits for FPI investment in government securities, state development loans and corporate bonds will remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of outstanding stocks of securities for the current...
Former Moody’s top lawyer pleads guilty in tax case
Moody's Corporation logo is photographed on the firm's headquarters in Lower Manhattan, NY. Ramin Talaie | Corbis Historical | Getty ImagesA former longtime general counsel to Moody's has pleaded guilty to willfully failing to file federal income tax returns, federal...
Trump trial: Defense continues cross-examination of National Enquirer publisher David Pecker: Live updates
Former U.S. President Donald Trump sits in the courtroom at Manhattan criminal court in New York on April 26, 2024.Jeenah Moon | Via ReutersThis is a developing story and will be updated throughout the day.Defense attorneys for former President Donald Trump continued...
Ashley Biden, in unsealed letter to judge, detailed ‘pain’ from diary theft
US social worker and daughter of the US president Ashley Biden speaks on stage during the Human Rights Campaign's 2024 Los Angeles dinner at the Fairmont Century Plaza in Los Angeles, March 23, 2024. Michael Tran | AFP | Getty ImagesAshley Biden, the daughter of...
U.S., China to hold first AI talks, TikTok stalemate ongoing
U.S. Secretary of State Antony Blinken waves as he prepares to depart Shanghai Hongqiao International Airport en route to Beijing, on April 25, 2024. Mark Schiefelbein | Afp | Getty ImagesThe U.S. and China will hold their first high-level talks on artificial...
Latest news on Russia and the war in Ukraine
China must stop supporting Russia if it wants better relations with West: NATO chiefNATO Secretary General Jens Stoltenberg speaks during a press conference at the International Monetary Fund and World Bank annual meeting in Marrakech, Morocco, October 11, 2023.Susana...
RBI crackdown on consumer credit surge set to hit bank’s co-lending of unsecured loans, ET BFSI
Banks and non-bank lenders are reassessing their personal loan portfolios, leading to a potential decline in the proportion of personal loans within overall co-lending assets under management.The Reserve Bank of India's revision in risk weight on unsecured consumer...
Pecker believed Trump would repay Playboy model hush money
Donald Trump sits in a Manhattan Criminal Courtroom with members of his legal team for the continuation of his hush money trial on April 25, 2024 in New York City. Spencer Platt | Via ReutersFormer National Enquirer publisher David Pecker on Thursday said he believed...
RBI plans curbs on suspect bank accounts to fight cyber fraud, ET BFSI
India's central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters.The plans come as internal government data shows...
Supreme Court hears Trump immunity arguments in election interference case
U.S. President Donald Trump delivers an update on the so-called Operation Warp Speed program, the joint Defense Department and HHS initiative that has struck deals with several drugmakers in an effort to help speed up the search for effective treatments for the...
Latest news on Russia and the war in Ukraine
U.K. Finance Minister Jeremy Hunt visits KyivBritish Finance Minister Jeremy Hunt met with Ukrainian President Volodymyr Zelenskyy in Kyiv, the Ukrainian leader said Thursday. "I welcomed the UK's Chancellor of the Exchequer, @Jeremy_Hunt, and thanked him for the UK's...
Speaker Johnson drowned out by crowds at Columbia speech on Gaza protests
Speaker of the U.S. House of Representatives Mike Johnson (R-LA) attends a news conference at Columbia University in response to demonstrators protesting in support of Palestinians, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in...
How did the macroeconomic indicators perform in March 2024?, ET BFSI
~ Ritesh and Shrishti SharmaThe Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) maintained its stance on the policy repo rates unchanged at 6.5 per cent for the seventh straight time in April’s RBI policy decision. Governor Shaktikanta Das discussed...
Senate launches investigation into high prices of Ozempic and Wegovy in the U.S.
The anti-diabetic medication "Ozempic" (semaglutide) made by Danish pharmaceutical company Novo Nordisk.Joel Saget | AFP | Getty ImagesThe U.S. Senate has launched an investigation into the high price of Novo Nordisk's popular weight loss and diabetes drugs Ozempic...
Chamber of Commerce sues FTC for banning noncompete clauses
FTC Chairwoman Lina Khan testifies during a budget hearing of the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce, April 18, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe U.S. Chamber of Commerce and several other business groups on...
Trump Media CEO asks House GOP to launch stock manipulation probe
Rep. Devin Nunes, R-Calif., ranking member of the House Intelligence Committee, speaks during an impeachment inquiry hearing in Washington, Nov. 13, 2019.Andrew Harrer | Bloomberg | Getty ImagesTrump Media CEO Devin Nunes on Tuesday urged House Republican committee...
Biden signs Israel, Ukraine, TikTok bill into law
President Joe Biden on Wednesday signed into law measures to provide aid to Israel, Ukraine and Taiwan, as well as to compel Chinese TikTok parent company ByteDance to sell the social media platform or face a national ban.Biden's official approval ends a six-month...
RBI raises minimum capital requirement for ARCs to begin securitization, ET BFSI
The Reserve Bank of India (RBI) on Wednesday released a compiled master direction for the asset reconstruction companies (ARCs) raising the minimum capital requirement to begin securitization to Rs 300 crore from Rs 100 crore as on October 11, 2022. Notably, the RBI...
Biden issues new rules for airlines to require automatic cash refunds, prohibit surprise fees
If an airline cancels your flight, remember that you're entitled to a full refund.Bunhill | E+ | Getty ImagesThe Biden administration on Wednesday unveiled two new rules that will directly affect the millions of Americans who fly commercially every year. The first...
RBI asks payment system operators to keep vigil on high-value and suspicious transactions, ET BFSI
As India's Lok Sabha elections unfold, the Reserve Bank of India (RBI) has taken proactive steps to safeguard the electoral process against potential financial influence. The central bank has directed non-bank payment system operators (PSOs) to heighten vigilance over...
ByteDance, TikTok spent over $7 million on lobbying, ad campaign
Omer Taha Cetin | Anadolu | Getty ImagesTikTok and its China-based parent company ByteDance combined to spend over $7 million so far this year to try and stop Congress from passing legislation that could ban the social media app in the United States.ByteDance alone...
Not activating counter-cyclical capital buffer, says RBI, BFSI News, ET BFSI
The Reserve Bank on Tuesday said it has decided against activating the countercyclical capital buffer (CCyB), as it is not needed in the present circumstances. The framework on the countercyclical capital buffer (CCyB) was put in place by the Reserve Bank of India...
FTC votes to ban noncompete clauses that bar employees from working for competitors
Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023.Kevin Wurm | ReutersThe Federal Trade Commission on Tuesday voted 3-2 for a...
RBI economists cautious as inflation risks linger, BFSI News, ET BFSI
Mumbai: A blistering summer and complex geopolitics pose near-term risks to prices and, in turn, to India’s consumer inflation gauge that has, however, come off its peak amid the average economic expansion of 8% in the first three quarters of FY24, central bank...
RBI’s dollar purchases in Feb highest since June 2021, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) bought $8.5 billion in the foreign exchange market on a net basis in February, the highest net purchase by the central bank in 32 months, latest data showed.In January, the RBI had net purchased $1.9 billion in the spot market,...
Latest news on Russia and the war in Ukraine
Court arrests Russian deputy defence minister on bribery chargesA Russian court on Wednesday formally arrested Deputy Defense Minister Timur Ivanov and charged him with bribery, the court said, following his detention on Tuesday.The court remanded Ivanov in custody...
Senate advances aid for Israel, Ukraine, Taiwan, TikTok bill
Senate Majority Leader Charles Schumer, D-N.Y., conducts a news conference after the senate luncheons in the U.S. Capitol on Tuesday, March 12, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Senate on Tuesday advanced a package to provide billions in aid to...
Trump Media shares plunge before former president’s stock bonus
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares fell 9% Tuesday ahead of an expected earnout bonus for former President Donald Trump.DJT was trading at $32 per share Tuesday afternoon, about 50% below its opening price last month of more than $70.Trump will...
Hearing on gag order violations; David Pecker testimony
Republican presidential candidate and former U.S. President Donald Trump looks on in the courtroom, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state...
Billionaire donors rethink Columbia University support
Nassau County Executive Bruce A Blakeman speaks in front of the entrance of Columbia University which is occupied by pro-Palestian protesters in New York on April 22, 2024. Charly Triballeau | AFP | Getty ImagesBillionaire donors like Robert Kraft and Leon Cooperman...
Oracle met with Senate aides on TikTok data housing project
Oracle's top lobbyist in Washington met privately with Senate aides about the company's data housing agreement with TikTok this spring, after a bill that could effectively ban the social media app in the United States passed the House in mid-March.Oracle acts as the...
AUKUS won’t trigger a nuclear arms race in the region
U.S. President Joe Biden delivers remarks on Australia, United Kingdom, United States (AUKUS) Partnership as Prime Minister Rishi Sunak of the United Kingdom and Prime Minister Anthony Albanese of Australia participate at Naval Base Point Loma in San Diego,...
Govt bonds worth Rs 32,000 crore to be auctioned on April 26, ET BFSI
New Delhi, The Finance Ministry on Monday announced the sale of government bonds worth Rs 32,000 crore in two categories on April 26 (Friday). The first lot comprises "7.1 per cent Government Security 2034" for an amount of Rs 20,000 crore while the second lot...
Latest news on Russia and the war in Ukraine
Russia warns it will retaliate if West seizes frozen assetsA close ally of Russian President Vladimir Putin warned Tuesday that Russia is ready to retaliate if almost $300 billion of frozen Russian assets are seized by the West and used to assist Ukraine."The...
Trump set to get millions more Trump Media shares
Anna Barclay | Getty ImagesFormer President Donald Trump is poised to receive an additional 36 million shares of Trump Media Tuesday — an "earnout" bonus worth more than $1.25 billion, at Monday's price.Trump Media, which owns the Truth Social app, was trading at...
European Central Bank governors fear Fed-style ‘dot plot’ would invite political pressure: Sources, ET BFSI
WASHINGTON - European Central Bank governors fear publishing their interest rate forecasts would invite pressure from governments trying to gauge if their central banker was serving their domestic agenda, sources told Reuters in a sign an idea to follow the U.S....
RBI MPC member Shashanka Bhide, ET BFSI
Sustaining the economic growth momentum of 7 per cent in 2024-25 and beyond is feasible on the back of favorable monsoon, higher farm productivity and improved global trade, RBI Monetary Policy Committee (MPC) member Shashanka Bhide said on Monday. During 2023-24, the...
Trump trial set to begin opening statements, first witness testimony
Republican presidential candidate and former U.S. President Donald Trump looks on as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016 continues, at Manhattan state court in New York...
German finance watchdog orders Commerzbank to pay 1.45 mn euro fine, ET BFSI
BERLIN - German financial watchdog BaFin has ordered Commerzbank to pay a fine of 1.45 million euros ($1.55 million) for breaching its anti-money laundering duties, the regulator said on Monday."Commerzbank AG and the former comdirect Bank AG, of which Commerzbank AG...
UK finance watchdog should not publicise probes sooner, lawmakers say, ET BFSI
LONDON - Britain's financial watchdog should drop plans to publicise its investigations sooner until a thorough analysis of its impact has been completed, a committee of lawmakers from parliament's upper house said on Monday.The Financial Conduct Authority (FCA)...
RBI’s mandate on KFS to address MSME credit gap, promote equitable lending, ET BFSI
In order to assist borrowers in navigating the complexities of loan terms and conditions while upholding regulatory standards, the Reserve Bank of India (RBI) has asked all lenders to provide key fact statements (KFS), with effect from 01 October, 2024.It is an...
Why has RBI’s Direct platform for retail investors in govt bonds not picked up?, ET BFSI
The Reserve Bank of India's (RBI) Retail Direct platform, aimed at increasing retail investor participation in the government bond market, has struggled to gain traction due to complex settlement mechanisms and liquidity issues, according to market participants.Prime...
Israel’s military intel chief resigns over failures surrounding Oct. 7
Tanks, armored vehicles and military machinery belonging to the Israeli army on April 17, 2024. Anadolu | Anadolu | Getty ImagesThe intelligence chief of Israel's Defense Forces has resigned citing failures linked to the Hamas terror attack carried out on Oct. 7,...
Once Adani-heavy, 8 FPIs look to settle with Sebi, ET BFSI
Mumbai: More than half a dozen foreign portfolio investors (FPIs) that owned substantial stakes in Adani Group firms are looking to settle securities violation matters with markets regulator Sebi, said people familiar with the matter. They have agreed to pay a certain...
Inflation sustainably moving towards RBI target enough for a rate cut: Ashima Goyal, ET BFSI
Consumer price index (CPI) inflation does not have to touch the Reserve Bank of India's 4% target, but sustainably move towards that mark for interest rates to be lowered, Ashima Goyal, external member of the central bank's monetary policy committee (MPC), told ET....
Blinken to warn China over support for Russia’s military during trip
US Secretary of State Antony Blinken (L) and China's Foreign Minister Qin Gang shake hands ahead of a meeting at the Diaoyutai State Guesthouse in Beijing on June 18, 2023. Leah Millis | AFP | Getty ImagesU.S. Secretary of State Antony Blinken will warn China about...
Government has warned against this government bank’s fake app and stock trading apps, ET BFSI
Late last year, the government warned State Bank of India (SBI) account holders of a fake SMS scam. A message circulating via SMS claiming to be from State Bank of India's (SBI) official channel asked users to update their PAN card. It threatened SBI account holders,...
Latest news on Russia and the war in Ukraine
Russia slams U.S. aid package, saying it will 'ruin Ukraine'Russia has, predictably, reacted angrily to a new U.S. $61 billion aid package for Ukraine, claiming that it will only lead to more carnage in the conflict.Kremlin spokesperson Dmitry Peskov said Saturday...
RBI directs payment firms to track high-value, fishy transactions during elections, ET BFSI
The Reserve Bank of India (RBI) has instructed all regulated payment companies to monitor high-value or suspicious transactions during the general elections, as per multiple senior executives familiar with the matter. In a letter dated April 15, the central bank...
Trump wins on inflation as Biden centers tariffs, jobs: NBC News poll
Joe Biden and Donald Trump 2024.Brendan Smialowski | Jon Cherry | Getty ImagesMore voters trust Donald Trump than President Joe Biden to deal with inflation and the cost of living, their top concerns for the U.S., according to the latest NBC News poll.The poll of...
Russia says deeper U.S. hybrid war using Ukraine will end in Vietnam-style humiliation
In this pool photograph distributed by Russia's state agency Sputnik, Russian President Vladimir Putin meets with the country's Labour and Social Protection Minister in Moscow on April 10, 2024. Gavriil Grigorov | AFP | Getty ImagesRussia said on Sunday that U.S....
Trump Media CEO says he’ll do ‘whatever it takes’ to defend DJT investors from short sellers
Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023. Al Drago | Bloomberg | Getty ImagesTrump Media CEO Devin Nunes on Friday said he would...
Finance ministry may have this plan to deal with frauds, ET BFSI
The Finance Ministry is reportedly proposing stricter measures to protect citizens from cyber fraud. This comes after a surge in incidents, including the recent Bank of Baroda World app scam. These measures are said to be part of a broader national effort to combat...
Trump cancels North Carolina rally due to storm
Former U.S. President Donald Trump enters Manhattan Criminal Court after a lunch break during his trial for allegedly covering up hush money payments on April 19, 2024 in New York City. Spencer Platt | Via ReutersU.S. Republican presidential candidate Donald Trump...
House Republicans will not move forward with vote to remove Johnson as Speaker today, Green says
Rep. Marjorie Taylor Greene says she will let her fellow House Republicans hear from their constituents before deciding whether to move forward with a vote to remove Speaker Mike Johnson.Greene made the remarks to a gaggle of reporters aired on CNN after the House...
House passes Ukraine, Israel, Taiwan aid, potential TikTok ban
Speaker of the House Mike Johnson, R-La., conducts a news conference in the U.S. Capitol after the House passed the foreign aid package rule on Friday, April 19, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe House on Saturday passed a series of bills to...
Trump berates judge for ‘rushed’ hush money trial, days before opening statements
Former US President Donald Trump sits in the courtroom at Manhattan criminal court in New York, US, on Thursday, April 18, 2024. Jeenah Moon | ReutersDonald Trump on Saturday took to social media to deliver another tirade against the judge and the circumstances of his...
Senate passes reauthorization of a key U.S. surveillance program after midnight deadline
After its midnight deadline, the Senate voted early Saturday to reauthorize a key U.S. surveillance law after divisions over whether the FBI should be restricted from using the program to search for Americans' data nearly forced the statute to lapse.The legislation...
US House to vote on long-awaited $95 billion Ukraine, Israel aid package
A view of the U.S. Capitol.Chip Somodevilla | Getty ImagesThe Republican-controlled U.S. House of Representatives on Saturday is set to vote on, and expected to pass, a $95 billion legislative package providing security assistance to Ukraine, Israel and Taiwan, over...
Need to preserve success on inflation control on durable basis, RBI governor at MPC, ET BFSI
MUMBAI: The success in controlling inflation has to be preserved and taken forward to achieve a 4 per cent inflation target on a durable basis, RBI Governor Shaktikanta Das stressed during the MPC meeting even as other members expressed concerns over the impact of...
Forex drop by $5.40 billion to $643.16 billion for the week ended April 12: RBI, ET BFSI
MUMBAI: India's foreign exchange reserves declined by $5.4 billion to $643.16 billion for the first time in eight weeks as of April 12, as per data released by the Reserve Bank of India.This is the steepest decline in Forex in over three months. Earlier, it rose by...
MPC stresses need for aligning to the 4 per cent target on a durable basis, ET BFSI
Aligning inflation to the 4 percent target on a durable basis is the prime concern for the monetary policy committee (MPC) members. Even though inflation is reined in, concerns over food inflation are not abated and at the same time strong growth indicators give a...
New York AG seeks to void Trump business fraud bond
Former President Donald Trump returns from a lunch break at Manhattan criminal court as jury selection continues in New York on April 18, 2024.Jabin Botsford | ReutersThe New York Attorney General's office on Friday asked a judge to effectively void a $175 million...
Citadel Securities blasts Trump Media CEO over DJT short sale letter
Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023. Al Drago | Bloomberg | Getty ImagesCitadel Securities ripped Trump Media CEO Devin...
Man sets himself on fire at New York courthouse
Fire extinguishers (R) are left at the park across from Manhattan Criminal Court in New York City after a man reportedly set himself on fire during the trial of US President Donald Trump, in New York City on April 19, 2024. Angela Weiss | AFP | Getty ImagesA man set...
Norway wealth fund backs proposal to split Goldman CEO, chair roles, ET BFSI
STOCKHOLM - Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors, will support a resolution calling for Goldman Sachs to split the roles of CEO and board chair, it said on Friday.Proxy advisors Institutional Shareholder Services (ISS) and...
Trump trial set to pick final alternate jurors for hush money case
Republican presidential candidate and former U.S. President Donald Trump departs on the day of his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, outside Trump Tower, in New York City, U.S. ,...
Trump Media alerts Nasdaq to potential DJT stock manipulation
Jonathan Raa | Nurphoto | Getty ImagesTrump Media has warned the CEO of the Nasdaq Stock Market of 'potential market manipulation' of the company's stock by "naked" short selling of shares.The warning came as Trump Media has offered shareholders detailed instructions...
All-out war, or measured retaliation?
A banner depicting missiles and drones flying past a torn Israeli flag, with text in Persian reading "the next slap will be harder" and in Hebrew "your next mistake will be the end of your fake state", hangs on the facade of a building in Palestine Square in Tehran on...
Sebi comes out with standard format for AIF PPM audit report, ET BFSI
In order to have uniform compliance standards and for ease of compliance, markets regulator Sebi on Thursday came out with a standard reporting format for alternative investment fund (AIF) pertaining to Private Placement Memorandum (PPM) audit report. The reporting...
New York jury convicts man in cryptocurrency market manipulation
Las Vegas Review-journal | Tribune News Service | Getty ImagesA New York federal jury on Thursday convicted a Puerto Rico man of a $110 million scheme that was the Department of Justice's first-ever cryptocurrency open-market manipulation case, prosecutors said.The...
Vietnam central bank says it stands ready to intervene in forex market, ET BFSI
HANOI - Vietnam's central bank is ready to immediately intervene in the foreign exchange market in case of adverse economic impacts from currency moves, its deputy governor said on Friday, noting it had already taken measures to reduce pressure on the currency.The...
Israel carries out limited strike against Iran, source says
An Iranian flag is pictured near in a missile during a military drill, with the participation of Iran’s Air Defense units, Iran October 19, 2020.WANA News Agency| ReutersIsrael launched a limited direct military attack on Iranian soil early Friday morning, marking the...
RBI imposes Rs 60.3 lakh penalty on five co-operative banks, BFSI News, ET BFSI
The Reserve Bank has imposed penalties totalling Rs 60.3 lakh on five co-operative banks for contravention of various regulatory norms. A penalty of Rs 43.30 lakh has been imposed on Rajkot Nagarik Sahakari Bank for non-compliance with RBI directions on 'ban on loans...
Fed’s rate-cut foot-dragging grates on global peers at IMF meetings, ET BFSI
WASHINGTON - Finance chiefs from economies large and small are scrambling to keep pace with the Federal Reserve's rapid resetting of rate-cut expectations as U.S. inflation data roils markets from London to Brazil.All insist they are setting policy independently of...
Latest news on Russia and the war in Ukraine
'We must defeat Russian terror': Zelenskyy renews call for stronger air defensesUkrainian gunners of the 14th Separate Mechanised Brigade named after Prince Roman the Great, fire at the enemy with BM 21 "Grad" MLRS at a position near the town of Kupyansk, Kharkiv...
TikTok doubles ad buy to fight potential U.S. ban in Congress
Giovanna Gonzalez of Chicago demonstrates outside the U.S. Capitol following a press conference by TikTok creators to voice their opposition to the “Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in...
U.S. unveils sanctions on Iran’s drone program following Israel attack
Unidentified men are carrying a model of Iran's first-ever hypersonic missile, Fattah, past a mosque during a gathering to celebrate the IRGC UAV and missile attack against Israel, in Tehran, Iran, on April 15, 2024. Morteza Nikoubazl | Nurphoto | Getty ImagesThe...
Bank of Japan’s Noguchi says future rate hikes likely to be slow, ET BFSI
SAGA, Japan - Bank of Japan board member Asahi Noguchi said on Thursday the pace of future rate hikes would likely be much slower than that of its global peers in recent policy tightenings, as the impact of rising domestic wages has yet be fully passed onto...
Investor climate group sets target for assets in private equity, debt, ET BFSI
LONDON - The world's leading group of asset owners committed to turning their investment portfolios green said on Thursday it had set guidance for private assets for the first time and would also look to improve assessment of emissions tied to sovereign debt...
Apple, Tesla investments boost Modi
Google CEO Sundar Pichai and Apple CEO Tim Cook listen as India's prime minister, Narendra Modi, speaks during a meeting with senior officials and CEOs of American and Indian companies, in the White House in Washington, D.C., on June 23, 2023.Brendan Smialowski | AFP...
Trump Media shares soar by more than 20% on second day of strong gains
In this photo, a smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesThe share price of Trump Media soared by more than 20% Thursday, the second day in a row of strong gains for the owner of the Truth Social...
Qatar re-evaluates key mediator role in Middle East conflict
U.S. Secretary of State Antony Blinken is greeted by Qatari officials upon his arrival in Doha, Qatar, Friday Oct. 13, 2023.Jacquelyn Martin | ReutersQatar is reconsidering its role as cease-fire broker between Israel and Palestinian militant group Hamas, the Gulf...
India’s policies subject to whims & fancies? Raghuram Rajan, Surjit Bhalla weigh in on why foreign investment is down, ET BFSI
NEW DELHI: India, the world’s fastest-growing major economy in recent years, is struggling to find a consistent flow of foreign investment as investors are spooked by the lack of steady and sustainable policies by New Delhi, economists said.Raghuram Rajan, former...
Trump trial loses juror who shared concerns about getting ID’d
Former U.S. President Donald Trump sits in the courtroom during his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state court in New York City, U.S. April 18, 2024. Brendan...
Trump Media tells DJT shareholders how to block short sellers
Jonathan Raa | Nurphoto | Getty ImagesTrump Media is making a point of telling its shareholders how to prevent their stock from being loaned to short sellers — who bet the price of the shares will drop.The short-selling-prevention tips posted Wednesday on Trump...
How will markets move in runup to Budget after elections? Samir Arora answers, ET BFSI
"I think the Budget will be very good because it will be related to divestments. I think it will be related to unlocking of real estate, of PSUs, I am just doing big picture that you cannot make it transformational and simultaneously cut the deficit," says Samir...
Senate dismisses two articles of impeachment against Homeland Security secretary, ends trial
U.S. Homeland Security Secretary Alejandro Mayorkas testifies before the House Homeland Security Committee about the Biden Administration's FY2025 budget request in the Cannon House Office Building on Capitol Hill on April 16, 2024 in Washington, DC. Chip Somodevilla...
Biden says Trump shouldn’t be Commander in Chief ‘for my son’
U.S. President Joe Biden delivers remarks at the Unitedsteel Workers headquarters in Pittsburgh, Pennsylvania, on April 17, 2024.Elizabeth Frantz | ReutersPresident Joe Biden on Wednesday choked up as he blasted Donald Trump, saying the presumptive Republican...
Banks see delay in rate cuts by RBI, too, ET BFSI
Mumbai: A delay by the US Federal Reserve in reducing rates is likely to weigh on Mint Road's decision on starting its own policy rate-easing cycle. After Morgan Stanley and Kotak Bank, IDFC Bank now expects India's central bank to defer its rate easing call, perhaps...
RBI’s stricter KYC rules may slow merchant onboarding 90%: experts, ET BFSI
The Reserve Bank of India’s (RBI) draft norms around stricter Know Your Customer (KYC) rules for payment aggregators could slow the onboarding of online merchants by as much as 90%, industry insiders said.The new rules will be applicable to existing players across...
China slams U.S. probe into its shipbuilding industry for ‘unfair practices’
U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders' week in Woodside, California, Nov. 15, 2023.Brendan Smialowski | Afp | Getty ImagesChina said it "firmly opposes" the U.S. investigation...
Banks see delay in rate cuts by RBI, too, ET BFSI
Mumbai: A delay by the US Federal Reserve in reducing rates is likely to weigh on Mint Road's decision on starting its own policy rate-easing cycle. After Morgan Stanley and Kotak Bank, IDFC Bank now expects India's central bank to defer its rate easing call, perhaps...
Latest news on Russia and the war in Ukraine
Ukraine has 'urgent' need for air defense, artillery and ammunition, army chief saysThe commander-in-chief of Ukraine's armed forces on Wednesday said that he had emphasized Ukraine's "urgent needs" on the battlefield in a conversation with top U.S. General...
3.3 crore bank accounts opened in FY24, cash level rises by Rs 36K crore, ET BFSI
A remarkable 33 million new Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts were opened during FY24, pushing the cumulative tally to 519.5 million accounts. The total balance across these accounts surged to Rs 2,34,997 crore, compared to Rs 1,98,844 crore recorded in...
Trump complains about hush money trial jury selection
Former U.S. President Donald Trump speaks to the media on the first day of his trial for allegedly covering up hush money payments at Manhattan Criminal Court on April 15, 2024 in New York City. Jefferson Siegel | Getty ImagesDonald Trump complained Wednesday that his...
Euro zone bond yields steady as traders assess interest rate outlook, ET BFSI
LONDON - Euro zone bond yields paused for breath on Wednesday after this week's climb, trading near a 1-1/2-month high, as traders assessed central banks' possible next moves following robust U.S. data.This week's fall in demand for safe assets pushed bond yields...
The European Central Bank is seen forgiving Italy its fiscal sins, if needed, ET BFSI
MILAN - Investors who have snapped up high-yielding Italian bonds over the last year on the assumption they were protected from risk by the European Central Bank are now taking a close look at the ECB's rulebook to gauge whether their investment is safe.The central...
Trump Media shares rise more than 10%
Jonathan Raa | Nurphoto | Getty ImagesThe price of Trump Media shares rose by more than 10% in early trading Wednesday.The big bump for DJT followed two days of share losses on the Nasdaq.Trump Media, which owns the Truth Social app, closed more than 14% lower on...
Proof of HRA claims of previous years; can you really take it easy after CBDT’s assurance of no review of old HRA cases, ET BFSI
If you have made certain claims to get an income tax deduction or exemption while filing your income tax return, then you need to keep documentary evidence of it as the income tax department may ask for it. There were media reports which indicated that the income tax...
RBI’s Das & Co rate easing cycle may be influenced by potential Fed rate cut delays, ET BFSI
A delay by the US Federal Reserve to cut rates is likely to weigh on RBI’s decision on starting its policy rate easing cycle. After Morgan Stanley and Kotak Bank, even IDFC Bank expects RBI to ease its rate easing call. Strong economic growth and escalated tensions in...
G20 watchdog says ‘non-banks’ should hold more cash to cope with margin spikes, ET BFSI
LONDON: "Non-banks" such as insurers, hedge funds, family offices and commodities traders should hold sufficient cash and draw up contingency plans for coping with spikes in collateral used to back derivatives positions against default, the G20's financial watchdog...
RBI directs payment aggregators to undertake due diligence of merchants on boarded, ET BFSI
The Reserve Bank of India on Tuesday directed all payment aggregators to undertake due diligence of merchants on boarded as per RBI's norms, to regulate the payment ecosystem. The KYC and due diligence norms, according to the RBI, shall be applicable 3 months from...
No RBI rate cuts likely this fiscal, says Morgan Stanley, BFSI News, ET BFSI
Morgan Stanley's economists have projected that the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may opt against reducing the policy repo rate, which currently stands at 6.50%, for fiscal 2025. This due to many factors, including robust domestic...
Feuding Kirloskars will have to disclose Deed of Family Settlement, Sebi tells Supreme Court, ET BFSI
Markets regulator Securities Exchange Board of India on Tuesday told the Supreme Court that Kirloskar Oil and Engines (KOEL) and Kirloskar Brothers (KBL) will have to disclose their 2009 Deed of Family Settlement (DFS) pursuant to the amendment in its 2015 LODR...
Biden fund gets big donation from son of GOP donor Larry Ellison
David Ellison, CEO of Skydance Media attends the 81st Annual Golden Globe Awards at The Beverly Hilton on January 07, 2024 in Beverly Hills, California. Kevin Winter | The Hollywood Reporter | Getty ImagesDavid Ellison, the son of Republican megadonor Larry Ellison,...
RBI asks banks to look at setting up central fund to pay internal ombudsmen, ET BFSI
The Reserve Bank of India (RBI) has asked lenders to examine the possibility of establishing a central fund to pay the salaries of banks' internal ombudsman (IO). This move seeks to enhance their independence to further protect customer rights.The banking sector...
Biden wants to triple China tariffs on steel, aluminum imports
President Joe Biden and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco in November.Saul Loeb | Afp | Getty ImagesPresident Joe Biden is calling on the U.S. Trade Representative...
RBI moves to regulate PoS payment players like Pine Labs, Innoviti, MSwipe, ET BFSI
After releasing guidelines for online payment aggregators like Razorpay and Cashfree, the Reserve Bank of India on Tuesday issued draft rules to regulate point-of-sale payment service providers (PA-P). Companies like Innoviti Payments, Pine Labs and MSwipe will be...
Modi 3.0 mega plan for Railways, plans investment of Rs 10-12 lakh crore, ET BFSI
Indian Railways is ready with a 100-day plan post-elections 2024. It includes a focus on various passenger-friendly measures, like a 24-hour ticket refund scheme, a comprehensive super App for various railways facilities, three economic corridors and sleeper Vande...
Republican House panel launches probe into Biden’s FTC-DOJ task force
FTC Commissioner nominee Lina M. Khan testifies during a Senate Commerce, Science, and Transportation Committee hearing on the nomination of Former Senator Bill Nelson to be NASA administrator, on Capitol Hill in Washington, U.S., April 21, 2021. Graeme Jennings |...
Fed VC Jefferson, ET BFSI
Washington DC [US], April 17 (ANI): US Federal Reserve Vice Chair Philip N Jefferson believes it will be appropriate to maintain the current restrictive monetary policy stance, to align inflation with 2 per cent.Speaking at the International Research Forum on Monetary...
Latest news on Russia and the war in Ukraine
Putin warns against escalation in first comments on Iran-Israel conflictRussian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022.Sergei Savostyanov | AFP | Getty ImagesRussian President Vladimir Putin made his first...
Why the US dollar is causing chaos across Asia, BFSI News, ET BFSI
Emerging-market currencies have tumbled this year as the dollar has gone from strength to strength. Taiwan’s currency dropped to the lowest level in almost eight years this week, India’s rupee slumped to a record, and Malaysia’s ringgit is close to the weakest since...
Biden administration partners with states to protect airline customers
U.S. Secretary of Transportation Pete Buttigieg speaks during a press briefing the day after the collapse of the Francis Scott Key Bridge in Baltimore, at the White House in Washington, U.S., March 27, 2024. Elizabeth Frantz | ReutersU.S. Transportation Secretary Pete...
Senator encourages drivers to drag Gaza cease-fire protesters from roads
U.S. Senator Tom Cotton (R-AK) speaks during a Senate Intelligence Committee hearing on worldwide threats to American security, on Capitol Hill in Washington, U.S., March 11, 2024.Julia Nikhinson | ReutersSen. Tom Cotton, R-Ark., on Tuesday doubled down on earlier...
Israel’s military chief says that Israel will respond to Iran’s weekend missile attack
Israel's military chief said Monday that his country will respond to Iran's weekend attack, but he did not elaborate on when and how as world leaders urged Israel not to retaliate, trying to avoid a spiral of violence in the Middle East.The Iranian attack on Saturday...
Is Aadhaar mandatory for investment in small savings schemes such as Senior Citizen Savings Scheme, PPF, NSC, Sukanya Samriddhi Yojana?, ET BFSI
Small savings schemes: Investing in small savings schemes like the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), and others requires adherence to certain documentation procedures. Chief among these is the submission...
Treasury Department to impose sanctions on Iran after Israel attack
US Treasury Secretary Janet Yellen attends a press conference at US Ambassador's residence in Beijing on April 8, 2024. Pedro Pardo | AFP | Getty ImagesTreasury Secretary Janet Yellen said Tuesday the U.S. is preparing new sanctions on Iran after the country launched...
Deutsche Bank, Morgan Stanley expect ECB to deliver 75 bps rate cut in 2024, ET BFSI
Brokerages Morgan Stanley and Deutsche Bank expect the European Central Bank to reduce borrowing costs by 75 basis points (bps) this year, on uncertainty over the U.S. Federal Reserve rate cut outlook and sticky domestic inflation.Last week, the ECB held interest...
Israel’s war Cabinet is locked between restraint and revenge
Vowing retribution but urged to show restraint, Israel has yet to agree on its response to an expansive drone and missile strike carried out on its territories by Iran on Saturday.A Monday meeting of Israel's five-person war Cabinet, headed by Prime Minister Benjamin...
RBI may bring licensing regime for POS players, impact Pine Labs, Paytm among others, ET BFSI
The Reserve Bank of India (RBI) is gearing up to introduce a licensing framework for point-of-sale (POS) operators, a move expected to have significant implications for key players like Pine Labs, MSwipe, Paytm, and BharatPe, according to reports.The objective is to...
Trump Media shares fall, Truth Social will launch TV platform
Jonathan Raa | Nurphoto | Getty ImagesTrump Media shares fell by more than 5% Tuesday morning after the company announced its Truth Social platform is moving to launch a live TV streaming platform.The plummet of DJT shares came a day after they closed more than 18%...
RBI imposes restrictions on Mumbai-based Sarvodaya Co-op Bank, ET BFSI
The RBI on Monday imposed several restrictions on Mumbai-based Sarvodaya Co-operative Bank, including capping withdrawals at Rs 15,000 for customers, in the wake of the bank's deteriorating financial situation. The eligible depositors will be entitled to receive a...
RBI asks lenders to provide key facts statement to borrowers from Oct 1, ET BFSI
All lenders will have to provide key facts statement (KFS) about the loan agreement terms, including all-inclusive interest cost to borrowers for retail and MSME loans, from October 1, the Reserve Bank said Monday. Currently, KFS is specifically mandated with respect...
China’s inaction on Iran has ‘undermined’ its influence in the Middle East, analyst says
China's President Xi Jinping attends the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S. November 17, 2023. Carlos Barria | ReutersChina's restrained silence on the Middle East conflict is tipping the scales of regional influence...
No rush for Bank of Korea to cut interest rates, says departing board member, ET BFSI
SEOUL - The Bank of Korea should not rush to lower interest rates as price stability remains the top policy priority for the central bank over slowing domestic demand, a departing board member said on Tuesday."There is no need to lower interest rates in a rush because...
Jury selection continues in criminal hush money case
Former U.S. President Donald Trump speaks to the press after the first day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, U.S. on April 15, 2024. Angela Weiss | Via ReutersThis...
NSE’s Ashish Chauhan, ET BFSI
New Delhi, April 16 (IANS): If the Indian stock markets are considered among the best-performing ones in the world, it is due to the political stability and the creation of a robust social security framework the country has witnessed in the last 10 years, according to...
New York tax preparer charged in big tax fraud scheme
Damian Williams, U.S. Attorney for the Southern District of New York, speaks during a press conference in New York City, Sept. 22, 2023.Barry Williams | New York Daily News | Getty ImagesA New York tax preparer was arrested Monday on charges related to causing...
UK wage growth slows slightly as Bank of England mulls rate cuts, ET BFSI
LONDON - British core wage growth slowed again, posting its weakest rise since the three months to September 2022 but remained strong by historical standards, according to official figures which are likely to be given a cautious welcome by the Bank of England.Regular...
Morgan Stanley, BFSI News, ET BFSI
MUMBAI - Interest rate cuts in India are "off the table" in fiscal year 2024/25 given the change in the Federal Reserve's policy path and strong growth in the South Asian nation, analysts at Morgan Stanley said on Tuesday."We believe that improving productivity...
Lockheed wins U.S missile defense contract worth $17 billion, sources tell Reuters
The Lockheed Martin logo is seen during the the 70th annual International Astronautical Congress at the Walter E. Washington Convention Center in Washington, DC on October 22, 2019.Mandel Ngan | AFP | Getty ImagesLockheed Martin has been awarded a $17 billion contract...
CEIB pushes for mandatory clearance for private banks, posing loan challenge, ET BFSI
Central Economic Intelligence Bureau has written to the department of financial services, finance ministry, to ensure all private banks seek mandatory clearance from CEIB, as in the case of government banks, on whether any enforcement case is pending against a company...
Commerce will spend all CHIPS Act money this year
TAYLOR, Texas — The Commerce Department is on track to dole out all of the $39 billion in grant money allocated under the CHIPS Act by year-end, Commerce Secretary Gina Raimondo told CNBC on Monday.The Commerce Department is providing the money to semiconductor...
Indian regulators plan panel to weigh derivatives risk: Sources, ET BFSI
MUMBAI - India's top financial regulators will form a committee to assess stability risks emerging from a surge in derivatives markets and suggest policy changes if required, two sources familiar with the matter said.Options trading in India has soared in the last...
Sebi to auction 30 properties of seven companies in May 2024, BFSI News, ET BFSI
Representative ImageMarkets regulator Sebi on Monday said it will auction 30 properties of seven companies, including Mangalam Agro Products and Purusattam Infotech Industries, on May 15 to recover money illegally collected from investors. The properties will be...
Speaker Johnson to advance separate Israel, Ukraine, Taiwan bills
Speaker of the House Mike Johnson, R-La., makes his way to the House floor on Friday, March 22, 2024. Rep. Marjorie Taylor Greene, R-Ga., filed a motion to vacate him from the speakership, later in the day. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse Speaker...
Mahendra Kumar Jajoo, ET BFSI
Mahendra Kumar Jajoo, CIO, Mirae Asset Investment Managers, says . “I expect the Fed to cut rates in July-August. The rate cut cycle will be shallow. The Fed will cut to reverse the ultra-aggressive rate hikes of the last 100 basis points and then the Fed will watch...
Biden and his wife report $620,000 income in 2023 tax returns
U.S. President Joe Biden and first lady Jill Biden walk to Marine One for travel to Virginia from the South Lawn of the White House in Washington, U.S., January 23, 2024. Leah Millis | ReutersPresident Joe Biden and his wife Jill on Monday released tax returns showing...
Disclose all loan fees upfront to customers, RBI instructs lenders, ET BFSI
Consumer loans will get more transparent with Reserve Bank of India Thursday directing lenders to disclose all associated fees upfront. This move is part of ongoing regulatory efforts to enhance transparency and disclosure in loan pricing and charges imposed on...
These transactions remain as paper trades within WhatsApp, Facebook and other apps, ET BFSI
In a recent incident, a 58-year-old resident of Kolkata lost Rs 20 lakh to an investment scam on WhatsApp. Initially enticed by a Facebook advertisement offering a complimentary online stock trading course, the victim was subsequently added to a WhatsApp group by the...
Latest news on Russia and the war in Ukraine
Russian forces pummel east Ukraine in bid to advance on Chasiv Yar, officials sayRussian forces continue to pummel eastern Ukraine in a bid to advance farther into the Donetsk region while Ukraine continues to suffer shortages of manpower and materiel.The...
Debt and climate back on IMF, WB spring meetings agenda, ET BFSI
Washington, Apr 15, 2024 - The spring meetings of the International Monetary Fund and the World Bank are due to open Tuesday, with two clear objectives: help countries combat climate change, and assist the most indebted nations.The meetings -- which bring central...
Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024, ET BFSI
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise...
SEBI to auction 22 properties of Rose Valley Group on May 20, BFSI News, ET BFSI
Representative ImageNEW DELHI: Markets regulator Sebi on Monday said it will auction 22 properties of Rose Valley Group of companies on May 20 at a reserve price totalling Rs 8.6 crore in a bid to recover money raised by the firm from the public through illicit...
We have woken up to new paradigm in Middle East, analyst says
Iran's weekend attack on Israel marks a "new paradigm" in the Middle East conflict, which risks escalating into a wider regional war, Chatham House's Middle East director said Monday.Sanam Vakil at the London-based thinktank said it was a matter of when and not if...
Lithuanian policymaker Simkus, ET BFSI
VILNIUS - The European Central Bank could cut interest rates more than three times this year and the reductions should not be held back if the U.S. Federal Reserve delays its own cuts, Lithuanian policymaker Gediminas Simkus said on Monday.Simkus, making some of the...
Rising global risks could delay RBI rate cuts, say analysts, BFSI News, ET BFSI
New Delhi: Rising global risks, including the rise in crude oil prices, may delay RBI's rate cuts, analysts said."While we maintain our call for a 50 bps rate cut starting in 3QFY25, we note increasing risks of further delays to the RBI's rate cuts from rising crude...
Trump Media shares plunge after company files to issue additional DJT stock
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesShares of Trump Media plunged more than 17% in...
Mukherjee, Chidambaram used to pressurise RBI to paint rosier picture of growth: Subbarao, ET BFSI
New Delhi: The finance ministry under Pranab Mukherjee and P Chidambaram used to pressurise the RBI to soften interest rates and present a rosier picture of growth to shore up sentiments, recalled former RBI Governor Duvvuri Subbarao in his memoir. In his recent book...
Trump starts New York criminal trial in hush money case
Former U.S. President Donald Trump attends a campaign event on April 02, 2024, in Grand Rapids, Michigan.Spencer Platt| Getty ImagesThe hush money trial of Donald Trump is set to kick off Monday in New York with jury selection, the first time a former U.S. president...
Bank of Japan’s new policy approach takes shine off its inflation forecasts, ET BFSI
TOKYO - The Bank of Japan is shifting to a more discretionary approach in setting policy, with less emphasis on inflation, sources said, as the central bank maps its monetary path following the historic decision to end a radical stimulus programme in March.With...
RBI steps up gold buying amid US dollar volatility, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has stepped up gold purchases to help diversify its foreign exchange reserves base amid US dollar volatility. The rise in the value of outstanding gold reserves made up more than four-fifths of the near $3-billion increase in forex...
World leaders react to Iran’s unprecedented air assault against Israel
A view of anti-Israel banners and posters placed on building walls in the capital city of Tehran after Iran launched drones, missiles on Israel in response to April 1 attack on consulate in Syria on April 14, 2024.Anadolu | Anadolu | Getty ImagesWorld leaders have...
Soon, you can use money in PhonePe, Amazon Pay wallets to pay via any UPI app, ET BFSI
UPI rule change for PPIs: Unified Payments Interface (UPI) and wallets like Paytm, PhonePe, and Amazon have become integral to our daily transactions. Whether it's paying for groceries, bills, or other expenses, we rely on these platforms regularly. However, a common...
Finance ministry may have this plan to deal with frauds, ET BFSI
The Finance Ministry is reportedly proposing stricter measures to protect citizens from cyber fraud. This comes after a surge in incidents, including the recent Bank of Baroda World app scam. These measures are said to be part of a broader national effort to combat...
RBI steps up gold buying amid US dollar volatility, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has stepped up gold purchases to help diversify its foreign exchange reserves base amid US dollar volatility. The rise in the value of outstanding gold reserves made up more than four-fifths of the near $3-billion increase in forex...
Crisil expects RBI to initiate repo rate cuts from mid-2024, BFSI News, ET BFSI
RBIThe Reserve Bank of India (RBI) maintained the status quo in the repo rate for the seventh time this month. The rating agency Crisil now expects the rate cut cycle to begin from mid-2024.The repo rate is the rate of interest at which the RBI lends to other...
NFRA’s order reveal multiple lapses by Pathak HD & Associates in Reliance Capital audit; debars audit partners, ET BFSI
NFRA's order reveal multiple lapses by Pathak HD & Associates in Reliance Capital audit; debars audit partners India's audit regulator, the National Financial Reporting Authority (NFRA), has taken decisive action against Pathak HD & Associates, the joint...
Govt plans stricter KYC to check financial frauds, ET BFSI
During 2023, as many as 11,28,265 cases of financial cyber fraud worth Rs 7,488.63 crore were reported, as per the data compiled by National Crime Records Bureau (NCRB).In a bid to check incidence of BoB World app scam and other such financial frauds, the finance...
Latest news on Russia and the war in Ukraine
Moscow diplomat slams Israel after attack, saying it hasn't sympathized with assaults on RussiaRussia's Foreign Ministry spokesperson slammed Israel following Iran's massive drone and missile attack on the country on Saturday, saying Israel had not shown any...
NFRA takes action against auditors of Reliance Capital for lapses and fraud, ET BFSI
The National Financial Reporting Authority (NFRA), the regulatory body overseeing auditors and audit firms for listed and large companies, has taken action against Pathak HD & Associates (PHD), the joint auditor for Reliance Capital, formerly an Anil Ambani group...
House Speaker Mike Johnson says he will push for aid to Israel and Ukraine this week
House Speaker Mike Johnson said Sunday he will try to advance wartime aid for Israel this week as he attempts the difficult task of winning House approval for a national security package that also includes funding for Ukraine and allies in Asia.Johnson, R-La., is...
White House will ‘wait and see’ on Iran response after Israel attack
U.S. President Joe Biden holds a press conference at the conclusion of the G7 Summit, in Hiroshima, Japan, May 21, 2023. Jonathan Ernst | ReutersThe White House is taking a "wait and see" approach in response to Iran's attempted strike on Israel, National Security...
Cuban spy Manuel Rocha plea deal raises fresh questions for claims holders
The Miami Herald profiled former Ambassador V. Manuel Rocha in 2003 when he joined the firm of Steel Hector & Davis to help open doors in Latin America.Raul Rubiera | Miami Herald | Getty ImagesWhen Carolyn Lamb saw news of Cuban spy Victor Manuel Rocha's arrest...
News organizations urge Biden and Trump to commit to presidential debates during the 2024 campaign
Twelve news organizations on Sunday urged presumptive presidential nominees Joe Biden and Donald Trump to agree to debates, saying they were a "rich tradition" that have been part of every general election campaign since 1976.While Trump, who did not participate in...
Is it mandatory to submit Aadhaar to invest in small savings schemes?, ET BFSI
Is it mandatory to provide Aadhaar to invest in small savings schemes such as the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), etc.? The answer is yes. While opening a fresh account in any of the small savings...
Payment mechanism for traders importing pulses from Myanmar simplified: Govt, ET BFSI
The government on Saturday said the payment mechanism for traders importing pulses from Myanmar has been eased and simplified. The importers have been asked to utilize Rupee/ Kyat direct payment system using Special Rupee Vostro Account (SRVA) through Punjab National...
Do you need to do KYC again? Check new rules here, ET BFSI
The proverbial monkey on the back is tormenting investors yet again. After changes in Know Your Customer (KYC) norms, starting 1 April, millions are now staring at another bout of KYC updates or risk a freeze on all transactions.Many investors are discovering that...
Israel says 300 Iranian drones and missiles downed in overnight attack
Iranians are waving Iranian flags and a Palestinian flag as they celebrate Iran's IRGC UAV and missile attack against Israel on April 14, 2024.Nurphoto | Nurphoto | Getty ImagesIran rained a deluge of drones and missiles on Israel on Saturday night in response to a...
MUDRA loan limit to be hiked to Rs 20 lakh from Rs 10 lakh, ET BFSI
The loan limit for the Micro Units Development & Refinance Agency (MUDRA) scheme will be hiked by 100 per cent if the Bharatiya Janata Party is voted back to power, the party said while announcing its manifesto on Sunday."The BJP has decided to raise loan limit...
New capital requirements for Swiss banks will slow growth at UBS, says finance minister, ET BFSI
ZURICH: The Swiss government's proposed tougher capital requirements for the banking industry will impact UBS's ability to grow, the country's finance minister said in an interview published on Saturday.Switzerland's largest bank will have to hold more capital if the...
FPSB India CEO, ET BFSI
New Delhi: The country needs a "new breed of financial planning professionals" who can act as consultants for customers, Financial Planning Standards Board (FPSB) India CEO Krishan Mishra said. India currently has 2,731 certified financial planners (CFPs) who are...
Trump targets two likely witnesses ahead of his criminal trial, despite gag order
In this courtroom sketch, Michael Cohen looks toward former U.S. President Donald Trump as he is questioned by a lawyer for the attorney general's office, during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New...
India’s forex kitty surges to new all-time high of $648.56 bn, ET BFSI
Mumbai, India's foreign exchange reserves went up by $2.98 billion during the week ended April 5 to scale a new all-time high of $648.562 billion, data released by the RBI showed on Friday.This is the seventh consecutive week marking a jump in the overall reserves....
Trump says he would testify in upcoming hush money trial
Republican presidential candidate former President Donald Trump and Speaker of the House Mike Johnson (R-LA) hold a press conference at Mr. Trump's Mar-a-Lago estate on April 12, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesDonald Trump said Friday that he...
Trump tries to boost support for Truth Social as his media stock tanks
Donald Trump on Friday urged his followers to support his social media app Truth Social, as its parent company's stock continues to sink lower.Trump in a post on that app said he believes Truth Social embodies the political "movement" behind his "Make America Great...
Marjorie Taylor Greene won’t say what happened to her Trump Media stock
US Representative Marjorie Taylor Greene (R) speaks alongside former US President and 2024 presidential hopeful Donald Trump at a campaign event in Rome, Georgia, on March 9, 2024. Elijah Nouvelage | AFP | Getty ImagesA media company with ties to former President...
Trump Media shares drop more than 6% after trading day begins
Jonathan Raa | Nurphoto | Getty ImagesThe price of Trump Media shares quickly dropped by more than 6% in the first half hour of trading Friday morning.The latest price fall for DJT continued a slide that included a 5.4% drop on Thursday, and a more than 8.5% decline...
The West urges China to intervene with Iran amid fears of a direct attack on Israel
Iranians attend a funeral procession in Tehran, held for seven Islamic Revolutionary Guard Corps members killed in a strike in Syria.Hossein Beris | Afp | Getty ImagesWestern diplomats have mounted pressure on China to prevent Iran from escalating tensions in the...
Trump Media shares close lower as Truth Social owner slump continues
Jonathan Raa | Nurphoto | Getty ImagesThe share price of Trump Media fell 5.4% at the close of trading on Thursday.DJT shares, the majority of which are owned by former President Donald Trump, ended at $32.41.Thursday's drop came a day after Trump Media shares fell...
Survey, BFSI News, ET BFSI
NEW DELHI - Unemployment and inflation are the main concerns of Indian voters but Prime Minister Narendra Modi's strong leadership, his party's Hindu nationalist agenda and India's rising global stature will likely help his re-election bid, a survey shows.The findings...
Trump faces trial on criminal hush money charges: What to know
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he is attending a hearing in his criminal case on charges stemming from hush money paid to a porn star, in New York City on March 25, 2024.Brendan Mcdermid | ReutersDonald Trump has...
Hot inflation may put Fed rate cut in thick of election season, ET BFSI
Hot U.S. inflation data has put the Federal Reserve's debate over a first interest rate cut on a potential collision course with the presidential election calendar, although a parade of top-level Fed-watching economists also predict the Fed won't make its move until...
Biden’s China tariff threats are more bark than bite, economists say
U.S. President Joe Biden attends a bilateral meeting with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. REUTERS/Kevin LamarqueKevin Lamarque |...
Former Fed chief Bernanke to set out Bank of England reforms, BFSI News, ET BFSI
By David MillikenLONDON, - Former Federal Reserve Chair Ben Bernanke will set out on Friday how the Bank of England should reform its economic forecasting, after a surge in inflation to its highest levels in more than 40 years turned a spotlight on the central bank's...
Biden warns on Beijing’s South China Sea moves in Philippines-Japan summit
U.S. President Joe Biden holds a trilateral meeting with Japanese Prime Minister Fumio Kishida (R) and Filipino President Ferdinand Marcos (L) at the White House on April 11, 2024 in Washington, DC. Leaders from the three nations are meeting in a first-ever trilateral...
Govt’s focus on infra development could nurture sustained revival in investment cycle: RBI report, ET BFSI
As per a RBI survey, consumer confidence one year ahead reached a new high. The government's focus on infrastructure development, coupled with buoyant business optimism, could nurture a sustained revival in the investment cycle, according to a Reserve Bank report....
Sam Bankman-Fried appeals fraud conviction, 25-year prison sentence
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, August 11, 2023.Eduardo Munoz | ReutersA lawyer for...
FX derivatives fiasco puts spotlight on regulatory risk in India, ET BFSI
Exchange-traded currency derivatives thrived in India for over a decade, fueled by retail investors and proprietary traders. Then the central bank broke up the party.Until recently, traders were betting freely on the rupee’s rise and fall without holding underlying...
RBI’s list of 75 unauthorized forex trading platforms; How to check authorised list, ET BFSI
List of unauthorised as on November 24, 20231 Alpari https://alpari.com2 Anyfx https://anyfx.in3 Ava Trade https://www.avatrade.com4 Binomo https://binomoidr.com/in5 eToro https://www.etoro.com6 Exness https://www.exness.com7 Expert Option https://expertoption.com8...
Latest news on Russia and the war in Ukraine
Ural river water levels top 11 meters in Russia's Orenburg region, officials sayWater levels of the Ural river reached 11 meters and 29 centimeters on Friday in Russia's Orenburg, Denis Pasler, the regional governor, said on Telegram.In the two hours to 8:00 local...
Lawsuit targets donation to Rudy Giuliani defense fund
Former New York Mayor Rudy Giuliani departs the U.S. District Courthouse after he was ordered to pay $148 million in his defamation case in Washington, U.S., December 15, 2023.Bonnie Cash | ReutersOne of the largest donations to Rudy Giuliani's legal defense fund is...
Japanese PM Kishida says the U.S. must play leading role in the world
U.S. Vice President Kamala Harris and U.S. House Speaker Mike Johnson (R-LA) applaud as Japanese Prime Minister Fumio Kishida addresses a joint meeting of Congress at the U.S. Capitol in Washington, U.S., April 11, 2024.Amanda Andrade-Rhoades | ReutersJapanese Prime...
US SEC warns Uniswap Labs of potential enforcement action, ET BFSI
The U.S. Securities and Exchange Commission has notified of potential enforcement action against Uniswap Labs, the main developer behind one of the world's largest cryptocurrency exchanges, the company said in a blog post on Wednesday. The reason for the SEC's warning...
DIPAM rejects PFC-REC debt resolution proposal for KSK Mahanadi project, ET BFSI
New Delhi: The Department of Investment and Public Asset Management (DIPAM) has turned down Power Finance Corporation (PFC) and REC Ltd’s proposal for a debt resolution plan for the beleaguered 1,800-MW KSK Mahanadi Power Company project.The state-owned duo had sought...
When are those rate cuts coming, already? The European Central Bank may be providing some hints, ET BFSI
FRANKFURT, Germany - The European Central Bank will likely use its Thursday meeting as a prelude to a first interest rate cut in June as the rich world's central banks, including the ECB and the U.S. Federal Reserve, assess how soon receding inflation will let them...
Hong Kong set to approve its first spot bitcoin ETFs in April, ET BFSI
Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said. That timeline would make Hong Kong Asia's first city to offer the popular ETFs and is much...
Trump Media director accused of ‘hacking’ files: lawsuit
This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesInvestment firms led by the former CEO of the SPAC that...
RBI stops customers from withdrawing money; what are your rights as depositors if your bank fails?, ET BFSI
Customers of Shirpur Merchants' Co-operative Bank in Maharashtra cannot withdraw money from their accounts now after the latest direction of the Reserve Bank of India (RBI). Amid the deteriorating financial condition of the bank, the RBI has imposed several...
forever chemical, PFAS, PFOS regulation to cost $1.5 billion annually
Signage is seen at the headquarters of the United States Environmental Protection Agency (EPA) in Washington, D.C., U.S., May 10, 2021.Andrew Kelly | ReutersThe Environmental Protection Agency, EPA, released long-awaited regulations Wednesday on some toxic "forever...
RBI and IRDAI asked to help limit impact on exports, ET BFSI
The finance ministry has written to the banking and insurance regulators to monitor export credit availability and insurance premium increases to help Indian exporters deal with trade disruptions in the Red Sea due to Houthi attacks on cargo ships.In a letter, which...
Biden and Japan’s Kishida forge new partnership, eyeing China and Russia
U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on Wednesday unveiled plans for military cooperation and projects ranging from missiles to moon landings, strengthening their alliance with an eye on countering China and Russia.Mandel Ngan | AFP |...
Fed Meet Minutes, ET BFSI
US Federal Reserve officials felt that the key interest rate was likely at its peak and it would be appropriate to loosen the monetary policy stance at some point this year, the minutes of its latest policy review meeting showed."...almost all participants judged that...
Unraveling US Rate Cut Investor Portfolio Shift: ANALYSIS
Federal Reserve Board chair Jerome PowellFears of rebounding inflation are forcing investors to prepare for a scenario few expected to confront in 2024: a year without U.S. interest rate cuts.Expectations for how much policy easing the Federal Reserve can deliver are...
Latest news on Russia and the war in Ukraine
Swiss to host peace summit in June, but Russia says it won't attendSwitzerland has confirmed it will host a high-level conference on how to achieve peace in Ukraine, the Swiss government said late Wednesday.The summit will take place on June 15-16 in the resort of...
Trump slams Biden for inflation after hotter-than-expected CPI report
Joe Biden and Donald Trump 2024.Kevin Lamarque | Jay Paul | ReutersDonald Trump on Wednesday pounced on President Joe Biden after March's consumer price index came in higher than expected, notching another data point that could signal inflation heating back up and...
Trump Media stock shares drop by more than 6%
Jonathan Raa | Nurphoto | Getty ImagesThe share price of Trump Media was down by more than 6% in midday trading Wednesday, putting the company's market capitalization below $5 billion.DJT shares were selling for $35.15 at 12:06 p.m. ET, well below the $70.90 that the...
RBI Floating Rate Savings Bonds likely to offer 8.05% interest from July 1, 2024; is it the right time to invest?, ET BFSI
Are you looking for a safe debt investment that offers more than an 8% interest rate? Then, let me tell you about the RBI Floating Rate Savings Bonds (FRSBs) 2020 (Taxable). At present, the RBI Floating Rate Savings Bond offers an interest rate of 8.05% per annum,...
Bank of Japan’s Kazuo Ueda rules out responding to weak yen with rate hike, ET BFSI
TOKYO - Bank of Japan Governor Kazuo Ueda said the central bank would not directly respond to currency moves in setting monetary policy, brushing aside market speculation that the yen's sharp falls could force it to raise interest rates.But Ueda maintained his...
Central banks likely to cut rates from June-July, align with pre-Covid range: Morgan Stanley, ET BFSI
New Delhi [India], April 10 (ANI): Central banks world over are likely to cut interest rates from June-July this year to bring real rates closer to the pre-Covid range, according to Morgan Stanley. Morgan Stanley says that Asian central banks will wait for the Fed to...
Former Trump executive Allen Weisselberg sentencing for perjury plea
Former Trump Organization Finance Chief Allen Weisselberg appears for a hearing in Manhattan Criminal Court on March 04, 2024 in New York City. Curtis Means | Getty ImagesFormer Trump Organization Chief Financial Officer Allen Weisselberg will be sentenced Wednesday...
Jeff Yass millions to influence schools, courts and markets
A portrait of Jeff Yass.Photo: Eddie MallukInside one of the largest options trading firms in the world sits a little known charitable foundation, that has quietly donated tens of millions of dollars to influence federal policy, education and law.The firm and the...
RBI cracks down on unauthorised forex trading platforms, asks banks to raise vigilance, ET BFSI
After issuing directives against unhedged exposure in forex derivatives, the Reserve Bank of India is cracking down on unauthorised forex trading platformsIn a recent address at the Fixed Income Money Market and Derivatives Association of India-Primary Dealers...
Steak, cherry blossoms and Paul Simon will be featured at the White House state dinner for Japan
President Joe Biden and first lady Jill Biden welcome Japanese Prime Minister Fumio Kishida and his wife Yuko Kishida to the White House on April 9, 2024 in Washington, DC.Anna Moneymaker | Getty Images News | Getty ImagesDry-aged rib eye steak, cherry blossoms and...
New govt’s economic agenda for 100 days, ET BFSI
The cabinet secretary has called a meeting with officials of key economic ministries on Friday to work out the economic agenda for the first 100 days of the new government that will take charge after the general election.Officials from the ministries of finance,...
Is inflation cooling enough for the Fed?, ET BFSI
WASHINGTON - An eagerly awaited report Wednesday on consumer prices will show whether inflation is still easing, a trend the Federal Reserve will weigh in deciding when and by how much - or even whether - to cut interest rates this year. The March inflation figures...
U.S. considers easing warnings for Americans traveling to China
The U.S. and China flags are seen at the People's Bank of China prior to the arrival of U.S. Treasury Secretary Janet Yellen in Beijing on April 8, 2024.Pedro Pardo | AFP | Getty ImagesThe U.S. is considering easing advisories against its citizens traveling to China,...
Labour codes may top new govt’s 100-day plan, BFSI News, ET BFSI
The government has already begun working on possible challenges and is deliberating on how to monitor implementationThe pending implementation of streamlined labour codes could top the 100-day agenda of a new government led by the Bharatiya Janata Party (BJP) after...
Iran’s Khamenei says Israel ‘must be punished’ for Syria embassy attack
Iran's Supreme Leader Ayatollah Ali Khamenei speaks during a graduation ceremony for armed forces officers at the Imam Ali academy in Tehran, Iran, on Oct. 10, 2023.WANA News Agency | Via ReutersIran's supreme leader, Ayatollah Ali Khamenei, said on Wednesday that...
RBI launches survey of manufacturing companies, BFSI News, ET BFSI
Mumbai: The Reserve Bank has launched the next round of quarterly order books, inventories and capacity utilisation survey of manufacturing companies, a key input for the monetary policy formulation. The 65th round of survey is for the reference period January-March...
Govt mandates transparency, fairness, accountability, ET BFSI
The market size of AI is poised to grow at a CAGR of 29.1% to reach $9,631.4 million by 2032.AI has led to seminal transformations in major sectors of the economy, from healthcare to banking and finance. The ability of AI tools to analyse vast amounts of data and make...
South Koreans vote for new parliament after campaign focused on economy, graft
People watch the first sunrise of the new year from a footbridge overlooking the city skyline in Seoul on January 1, 2024. Jung Yeon-je | Afp | Getty ImagesSouth Koreans voted to elect a new parliament on Wednesday in a bitterly fought race seen by some analysts as a...
RBI’s new KYC drill impacting ARC deals, BFSI News, ET BFSI
Mumbai: After the Paytm Payments Bank fiasco, the Reserve Bank of India (RBI) is insisting on KYC (Know Your Customer) compliance for accounts purchased by asset reconstruction companies from banks and non-banking finance companies.Earlier, asset reconstruction...
Russia-Ukraine war live updates from April 10, 2024
Drones attack Russian city of Taganrog, officials sayA drone attack targeted the southern Russian city of Taganrog on Wednesday, Russian officials said."Attention! UAV attack. If possible, go down to the lower floors, to the basement. Find a place without windows, sit...
RBI launches survey of manufacturing companies, BFSI News, ET BFSI
The Reserve Bank has launched the next round of quarterly order books, inventories and capacity utilisation survey of manufacturing companies, a key input for the monetary policy formulation. The 65th round of survey is for the reference period January-March 2024...
Bob Menendez grills official on illicit finance before bribery trial
U.S. Sen. Bob Menendez, D-N.J., at center right, and his wife, Nadine Menendez, center rear, leave Manhattan Federal Court in New York City following his arraignment, March 11, 2024.Spencer Platt | Getty ImagesSen. Bob Menendez questioned a Treasury Department...
Woman who stole Ashley Biden diary sentenced to jail
Ashley Biden speaks alongside her father US President Joe Biden during a Juneteenth concert on the South Lawn of the White House in Washington, DC, US, on Tuesday, June 13, 2023. Samuel Corum | Bloomberg | Getty ImagesA Florida woman who stole and then sold a diary...
Trump loses bid to delay hush money trial while he fights gag order
Combination of Former President Donald Trump (L), and Manhattan District Attorney Alvin Bragg.ReutersA New York appeals judge on Tuesday knocked down yet another long-shot bid by Donald Trump to delay his criminal hush money trial, this time by seeking a pause while...
Japan warns against excessive volatility as yen slides near fresh lows, ET BFSI
TOKYO - Japanese Finance Minister Shunichi Suzuki said authorities won't rule out any options in dealing with excessive yen moves, repeating his warning that Tokyo is ready to act against the currency's recent sharp declines.But he stopped short of describing the yen...
Bank of Japan’s Kazuo Ueda signals scope to reduce monetary stimulus, ET BFSI
TOKYO - Bank of Japan Governor Kazuo Ueda said the central bank must consider further whittling down monetary stimulus if trend inflation continues to accelerate, signalling the chance of another rate hike later this year in line with market bets.Speaking in...
Simon Harris becomes youngest-ever Irish prime minister, pledges ‘reset’
Newly-declared Fine Gael leader Simon Harris speaking at a convention in Athlone, central Ireland on March 24, 2024, after becoming de facto prime minister-in-waiting. Harris took over following the shock resignation of predecessor Leo Varadkar.Paul Faith | Afp |...
EU’s von der Leyen echoes Yellen’s calls for tough stance on Chinese overcapacity
European Commission President Ursula von der Leyen speaks during a press conference, Nurphoto | Getty ImagesEuropean Commission chief Ursula von der Leyen on Tuesday said that Europe must talk tough with China on its perceived unfair trade practices, echoing calls a...
RBI, BFSI News, ET BFSI
MUMBAI: RBI has said that interest rate transmission is incomplete as deposit rates are still rising and banks may need to relook at the low lending rates, offered through special loan schemes, which will affect their margins.Banks have been fighting a rate battle in...
‘Financial market reforms by RBI aimed at providing strong bedrock for markets,’ says Governor Shaktikanta Das, ET BFSI
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said the recent wave of financial market reforms spearheaded by the RBI are geared towards establishing a robust foundation for addressing the burgeoning funding needs of the economy, providing...
European shares dip ahead of ECB policy decision; BP shines, BFSI News, ET BFSI
European shares opened lower on Tuesday, with investors stepping to the sidelines ahead of this week's U.S. inflation data and a European Central Bank monetary policy decision, while gains in British energy giant BP and miners kept losses in check.The pan-European...
experts, BFSI News, ET BFSI
The government move to introduce an artificial intelligence law that will safeguard the commercial and creative interests of content creators including news publishers will help balance the interests of publishers with the needs of those developing generative AI...
India needs more leaders like Manmohan Singh, BFSI News, ET BFSI
Almost 10 years after he gave way to Narendra Modi as prime minister of India, Manmohan Singh retired last week from public life. During his long career, Singh also served as chief economist, central bank governor, finance minister, and foreign minister. Although he...
Why RBI gave foreign investors access to sovereign green bonds, ET BFSI
What recent decision has the RBI made regarding Sovereign Green Bonds?The RBI has made a significant decision to allow foreign investors operating within the IFSC to invest in Sovereign Green Bonds (SGrBs). This decision, announced recently, marks a pivotal step in...
What Truth Social executives got in stock, compensation
The merger that led to Trump Media shares becoming publicly traded is also paying off for top executives and other insiders at the company, which owns the Truth Social app regularly used by former President Donald Trump.Corporate filings from Trump Media — which...
RBI, BFSI News, ET BFSI
Frequent weather shocks caused by climate change pose challenges for the monetary policy as well as downside risks to economic growth, a Reserve Bank report said. Global average temperatures are on a rise, with accompanying increase in extreme weather events (EWE),...
Latest news on Russia and the war in Ukraine
Ukraine destroys attack drones, missiles launched by RussiaA view of a damaged fire truck after Russian forces launched a massive drone attack on the city of Kharkiv, Ukraine on April 4, 2024. The drone attack killed 4, injured 12 people. Anadolu | Anadolu | Getty...
Interest subsidy on home loan for poor may be part of 100-day plan, ET BFSI
NEW DELHI: With Prime Minister Narendra Modi asking ministries to prepare a 100-day plan for the new government, ministries are lining up several "people-friendly" initiatives.Indian Railways, for instance, plans to roll out a 24-hour refund scheme for passengers...
Trump hush money judge recusal bid aims to delay, evade gag order: DA
Former U.S. President Donald Trump speaks on the phone at the 18th green during day three of the LIV Golf Invitational - Miami at Trump National Doral Miami on April 07, 2024 in Doral, Florida. Megan Briggs | Getty ImagesThe latest bid by Donald Trump to remove the...
Trump Media stock drops more than 10% to open trading week
Aytac Unal/ | Anadolu | Getty ImagesTrump Media shares dropped more than 10% in early trading Monday.DJT's plunge followed a 12% decline in its share price on Friday.Trump Media, which owns the Truth Social app used by its biggest shareholder, former President Donald...
U.S., China to hold more financial shock exercises, Treasury officials say, ET BFSI
BEIJING - The U.S. and China are deepening cooperation on financial stability issues, U.S. Treasury officials said, with two more simulations of financial shocks scheduled after a recent exercise on dealing with the failure of a large bank.The exercises have been...
U.S. ready to sanction China for supporting Russian military
US Treasury Secretary Janet Yellen speaks to journalists. Picture Alliance | Picture Alliance | Getty ImagesThe United States is prepared to sanction Chinese banks and companies, as well as Beijing's leadership, if they assist Russia's armed forces with the invasion...
Japan’s service-sector mood slumps, clouds BOJ rate hike path, ET BFSI
TOKYO - Japan's service-sector sentiment fell in March as rising living costs and bad weather weighed on consumption, a government survey showed, heightening uncertainty on how soon the central bank can raise interest rates again.Consumption has been a weak spot in...
A year into his job, Bank of Japan chief Ueda gets 1 mission accomplished, ET BFSI
Bank of Japan Governor Kazuo Ueda TOKYO - A year into his job, Bank of Japan Governor Kazuo Ueda said he had achieved a goal he set when taking the helm: changing the bank's complex monetary stimulus into a simpler framework.Speaking in parliament on Monday, he also...
Governance, compliance top priorities; RRA 2.0, Internal Review Groups key: RBI, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, while presenting the April MPC decision emphasised that banks, NBFCs and other financial entities must continue to give the highest priority to quality of governance and adherence to regulatory guidelines....
Sebi proposes direct reporting of AIFs’ PPM changes to streamline compliance cost, ET BFSI
The Securities and Exchange Board of India (Sebi) has proposed that certain changes in private placement memorandum (PPM) of alternative investment funds (AIFs) can be submitted directly to it rather than through a merchant banker. The move is aimed to rationalise...
Five questions for the ECB, BFSI News, ET BFSI
Traders betting the European Central Bank is all but certain to start cutting interest rates in June just need a green light from policymakers on Thursday that the coast is clear.Inflation slowed to even nearer the ECB's 2% target in March, paving the way for the bank...
India swaps suggest RBI now likely to hold rates through 2024, ET BFSI
MUMBAI - Indian overnight indexed swap (OIS) rates have moved higher since the Reserve Bank of India's latest policy meeting on Friday, suggesting investors now expect a rate cut only in early 2025 as opposed to the last quarter of 2024 earlier.The one-year OIS rate,...
Yellen says she won’t rule out possible tariffs on China’s green exports
U.S. Treasury Secretary Janet Yellen on March 21, 2024, in Washington, DC. Alex Wong | Getty ImagesU.S. Treasury Secretary Janet Yellen on Monday said she would not rule out any measures, including potential tariffs, on China's green energy exports."I wouldn't rule...
When will RBI cut rates?, BFSI News, ET BFSI
With the Reserve Bank of India maintaining a status quo on rates and stance, analysts say that the central bank may cut rates in the August policy review or in the October policy announcement. The timing of a rate cut, however, presents a nuanced challenge. Forecasts...
RBI, BFSI News, ET BFSI
MUMBAI: RBI has cautioned that frequent shocks to inflation due to climate change can weaken policy transmission and necessitate tighter monetary policy. RBI's monetary policy report noted that climate change can increase inflation and stunt growth.The report said...
All the details, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has introduced two fresh website and mobile app offerings. According to an announcement by the central bank, the current website will continue to be accessible for a period, operating alongside the newly launched platforms.The release...
Brazil Supreme Court justice opens inquiry into Elon Musk
Brazil's President Jair Bolsonaro and Tesla CEO Elon Musk talk during a meeting in Porto Feliz city in Sao Paulo state, Brazil May 20, 2022.Kenny Oliveira | MCom | via ReutersBrazil Supreme Court Justice Alexandre de Moraes initiated an investigation of tech magnate...
Indian rupee, government bonds to track inflation prints, BFSI News, ET BFSI
By Dharamraj Dhutia and Jaspreet KalraMUMBAI - The Indian rupee is likely to track a pullback in the odds of a June rate cut by the U.S. Federal Reserve and, along with government bonds, will gauge elevated crude oil prices and local and U.S. inflation data over a...
Tax dept may take you to tribunal and court for bogus transactions, ET BFSI
The Central Board of Direct Taxes (CBDT) has decided to increase the scope of the Income Tax Department in filing of appeal cases in tribunals and courts. It has been directed by CBDT via a circular dated March 15, 2024, that the tax department can now file appeals...
Latest news on Russia and the war in Ukraine
The Russian-controlled Zaporizhzhia nuclear power plant in southern Ukraine on June 15, 2023.Olga Maltseva | Afp | Getty ImagesThe United Nations' atomic energy watchdog sounded the alarm Sunday after drones struck a nuclear reactor at the Russian-held Zaporizhzhia...
Israel troop reduction in Gaza does not mean new strategy
U.S. national security spokesperson John Kirby speaks during a press briefing at the White House in Washington, U.S., March 25, 2024. Elizabeth Frantz | ReutersNational Security Spokesman John Kirby on Sunday said that Israel's decision to pull some troops out of...
Sebi asks Youtuber who gives stock market training to deposit Rs 12 crore, ET BFSI
NEW DELHI: Financial influencer Ravindra Balu Bharti, who imparts stock market training, has been asked by the Security Exchange Board of India (Sebi) to deposit over Rs 12 crore, which he made unlawfully. The person, Ravindra Balu Bharti, is directed to credit or...
PMO asks commerce ministry to examine model text of investment treaty, ET BFSI
The Prime Minister's Office (PMO) has asked the commerce ministry to examine the model text of the bilateral investment treaty (BIT) and suggest modifications to further improve the ease of doing business, according to sources. The exercise assumes significance as...
States to sustain capex focus with improved fiscal space: Ind-Ra report, ET BFSI
India Ratings and Research (Ind-Ra) has put out a report maintaining a neutral outlook on the finances of Indian states for the fiscal year 2024-2025 (FY25), showing States' aggregate revenue deficit is projected to be 0.4 per cent of gross domestic product (GDP) for...
New Zealand implements changes to employment visa program to manage net migration, ET BFSI
NEW DELHI: New Zealand government on Sunday implemented alterations to an employment visa program, citing concerns over "unsustainable" net migration and indicating the possibility of additional adjustments in the future.The modifications include the introduction of...
U.S. and China to hold talks on ‘balanced growth’ amid overcapacity concerns, Yellen says
US Treasury Secretary Janet Yellen (L) shakes hands with China's Vice Premier He Lifeng in the southern Chinese city of Guangzhou, on April 5, 2024.Pedro Pardo | Afp | Getty ImagesU.S. Treasury Secretary Janet Yellen said on Saturday that she and Chinese Vice Premier...
Being jailed for gag order violation would be ‘great honor’
Former U.S. President Donald Trump speaks at a campaign event on April 02, 2024 in Grand Rapids, Michigan.Spencer Platt | Getty ImagesDonald Trump on Saturday said he welcomed the prospect of going to jail for violating a gag order in his upcoming New York hush money...
Fearless Stock Bulls Start Hedging as Fed Policy Pivot Stalls, ET BFSI
A bumpy week for the S&P 500 Index prompted long-complacent traders to look at the hedges they’ve ignored for months.The demand for broad market insurance plunged to multi-year lows in the first quarter as US stocks posted a series of fresh highs despite growing...
Trump’s campaign said it raised $50.5 million at Florida fundraiser
Republican presidential candidate, former US President Donald Trump, arrives at the home of billionaire investor John Paulson, with former first lady Melania Trump, on April 6, 2024 in Palm Beach, Florida. Alon Skuy | Getty Images News | Getty ImagesDonald Trump's...
Lucknow administration asks banks to inform about transactions above permitted limit, ET BFSI
Lucknow: The Lucknow district election officer has directed all banks to monitor withdrawals and deposits above Rs 10 lakh.District Magistrate Surya Pal Gangwar has directed banks to send reports about all such deposits and withdrawals to the district election...
SFBs believe rupee interest derivative products will boost balance sheet resilience, ET BFSI
The Reserve Bank of India (RBI) on Friday announced its decision to allow Small Finance Banks (SFBs) to use permissible rupee interest derivative products. While announcing the key outcomes of the Monetary Policy Committee (MPC) decision, the RBI Governor Shaktikanta...
RBI directs banks and finance companies to prioritise governance, adhere to rules, ET BFSI
The Reserve Bank of India (RBI) Governor Friday directed banks and other players in the financial sector to prioritise governance and adhere to rules weeks after placing restrictions on two finance companies and a payment bank for violating regulations.“Let me...
RBI to revisit LCR framework in bid to shield banks from run, BFSI News, ET BFSI
The Reserve Bank of India (RBI) will modify its liquidity coverage ratio (LCR) framework for lenders in light of recent developments in overseas markets where patrons withdrew their banking deposits at a short notice due to the availability of instant digital payment...
Georgia prisoner mailed bombs to D.C., Alaska court, feds charge
Zoom In IconArrows pointing outwardsDavid Dwayne Cassady, inmate in Georgia. Courtesy: Georgia Department of CorrectionsA man serving a life sentence for kidnapping and other crimes while in a Georgia prison built two bombs which he mailed to a District of Columbia...
RBI permits FPIs to invest in sovereign green bonds via IFSC, BFSI News, ET BFSI
Taking fresh steps to deepen debt markets, the Reserve Bank of India (RBI) Friday said that foreign investors in the International Financial Services Centre would be permitted to invest in sovereign green bonds.“A scheme for investment and trading in SGrBs (sovereign...
“Be mindful…” RBI Governor Das flagged this to banks and NBFCs over public money during MPC meeting, ET BFSI
Reserve Bank of India governor Shaktikanta Das on Friday called upon financial entities like the NBFCs, banks to be mindful of the fact that they are dealing with public money."Let me emphasise that banks, NBFCs and other financial entities must continue to give the...
Bhutan to upgrade bitcoin mining in Himalayas as ‘halving’ looms, ET BFSI
Bhutan’s investment arm and Bitdeer Technologies Group are planning to ramp up their Bitcoin mining operation to help offset the revenue impact of an upcoming event known as the halving. The partnership between Druk Holding & Investments and Nasdaq-listed crypto...
e-Insurance in demat like format mandatory for all new policies from April 1, 2024; what is going to change?, ET BFSI
Starting from April 1, 2024, it is compulsory to hold your insurance policies in electronic format, similar to how investors hold shares in a demat account. In a notification "Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers...
RBI allows cash deposits in CDMs via UPI, ET BFSI
Mumbai: The RBI has decided to allow bank customers to deposit money in Cash Deposit Machines (CDMs) through UPI as part of its policy to enhance convenience in carrying out transactions.Deposit of cash through CDMs is currently being done primarily through the use of...
Experts decode policy impact on stock markets. Here’s what they said, ET BFSI
The Reserve Bank of India (RBI) on Friday left the repo rate unchanged at 6.5% for the 7th straight time, while remaining focused on the withdrawal of accommodation to ensure that inflation progressively aligns to the target while supporting the growth.The policy was...
Soon, you can deposit cash through UPI at ATMs, announces RBI, ET BFSI
Unified Payments Interface (UPI) has become a part of our day-to-day life in the last few years. However, we mostly use it to transfer money or scan the QR code and pay at shops. But, the usage of UPI is just not limited to payments. Now, you can withdraw cash from...
New Tax Regime Hits Pvt Sector Addition To Nps, ET BFSI
NEW DELHI: The pension scheme for the corporate and individuals, regulated by Pension Fund Regulatory and Development Authority (PFRDA), may have been hit by the new tax regime, which offers lower tax rates but no exemptions, such as, those for investment.Latest data...
Earthquake hits northeastern United States, magnitude 4.8
A magnitude 4.8 earthquake shook the northeastern United States on Friday morning.The earthquake was felt from Boston down to Baltimore at 10:23 a.m. ET, according to the U.S. Geological Survey.Many incoming flights at the three major airports in and right outside New...
Bank of Japan hints at near-term rate hike, pushing yields higher, ET BFSI
TOKYO - Bank of Japan Governor Kazuo Ueda said inflation would likely accelerate from "summer towards autumn" as bumper pay hikes push up prices, the Asahi newspaper reported on Friday, his strongest hint yet that another rate hike was possible in coming months.The...
RBI okays use of 3rd party UPI apps for payments from PPI wallets, ET BFSI
Mumbai: The RBI has decided to permit the use of third-party UPI apps for making UPI payments from PPI wallets to further enhance customer convenience and boost adoption of digital payments for small value transactions, RBI Governor Shaktikanta Das said on Friday. At...
India to broaden e-rupee distribution beyond banks to boost retail use: RBI, ET BFSI
MUMBAI - The Reserve Bank of India (RBI) plans to use non-bank payment system operators, including third-party payment app providers, to make the e-rupee more accessible to retail users, it said on Friday.The RBI piloted its central bank digital currency (CBDC) in...
RBI’s policy decision a prudent step, affirmation of goldilocks for India: Bankers, ET BFSI
RBI Governor Shaktikanta DasThe Reserve Bank of India Monetary Policy Committee announced on April 5, 2024 its decision of keeping the repo rates unchanged at 6.5 per cent for the seventh straight time. The RBI Governor Shaktikanta Das forecasts the India GDP growth...
Mutual fund managers decode RBI rate pause for investors, ET BFSI
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) in its bi-monthly monetary policy review again decided to keep the policy rate unchanged at 6.50%. The MPC of the central bank also retained its stance of remaining focussed on “withdrawal of...
Trump to be deposed in dispute with media company co-founders
Jonathan Raa | Nurphoto | Getty ImagesRepublican presidential candidate Donald Trump is scheduled to be deposed later this month by lawyers for co-founders of his social media company as part of a dispute over ownership in Trump Media & Technology Group which went...
To keep close watch on vegetable prices amid IMD’s prediction of high temperature condition: RBI Governor, ET BFSI
Mumbai: Reserve Bank Governor Shaktikanta Das on Friday said the central bank will keep a close watch on vegetable prices that may be impacted by high temperature condition which has been predicted by IMD. Earlier this week, the Indian Meteorological Department (IMD)...
British billionaire Joe Lewis fined $5 million by U.S. judge for insider trading
British billionaire and former owner of the Tottenham Hotspur Football Club Joe Lewis arrives at federal court for his sentencing in an insider trading case on April 4, 2024, in New York City. Lewis pleaded guilty to charges of committing securities fraud and...
Reserve Bank of India to revise Liquidity Coverage Ratio framework, ET BFSI
The Reserve Bank of India (RBI) will modify its liquidity coverage ratio (LCR) framework for lenders in light of recent developments in overseas markets where patrons withdrew their banking deposits at a short notice due to the availability of instant digital payment...
RBI Governor Das hints at inflation reaching 4 per cent target, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das, while unveiling the outcomes of the first bimonthly Monetary Policy Committee (MPC) meeting of FY25, characterized inflation as the prominent challenge, referring to it as "the elephant in the room." He indicated...
Biden’s battle to secure backing of anti-Trump Republicans
U.S. President Joe Biden speaks at the Pieper-Hillside Boys & Girls Club in Milwaukee, Wisconsin, on March 13, 2024.Sara Stathas | Bloomberg | Getty ImagesAllies of President Joe Biden are ramping up a charm offensive aimed at getting high-profile Republicans and...
RBI permits FPIs to invest in sovereign green bonds via IFSC; mobile app for Retail Direct gilt scheme being developed, ET BFSI
Taking fresh steps to deepen debt markets, the Reserve Bank of India (RBI) Friday said that foreign investors in the International Financial Services Centre would be permitted to invest in sovereign green bonds.“A scheme for investment and trading in SGrBs (sovereign...
Yellen kicks off China meetings with overcapacity concerns, encouraging market-oriented reforms
Chinese Vice Finance Minister Liao Min (2nd R) and U.S. Ambassador to China Nicholas Burns (R) receive U.S. Treasury Secretary Janet Yellen (R) upon her arrival in Guangzhou on April 4, 2024.Pedro Pardo | Afp | Getty ImagesBEIJING — U.S. Treasury Secretary Janet...
RBI pegs FY25 GDP growth at 7% on strong domestic economic momentum, ET BFSI
RBI Governor Shaktikanta DasThe Reserve Bank of India (RBI) has projected real GDP growth for FY25 at 7 per cent on the back of strong momentum in the domestic economy."Real GDP growth for 2024-25 is projected at 7.0 per cent with Q1 at 7.1 per cent; Q2 at 6.9 per...
RBI proposes distribution of CBDC through non banks; seeks to broaden retail access to digital currency, ET BFSI
The Reserve Bank of India (RBI), in an effort to expand the usage of the Central Bank Digital Currency (CBDC), has now proposed to allow distribution of CBDCs through Non-bank Payment System Operators. CBDC pilots in the Retail and Wholesale segments are underway with...
Free trade flaws fueled Trump’s rise in 2016 — and the problems remain, top economist says
Former U.S. President Donald Trump speaks after attending a wake for New York City Police Department (NYPD) officer Jonathan Diller, who was shot and killed while making a routine traffic stop on March 25 in the Far Rockaway section of Queens, in Massapequa Park, New...
RBI’s policy will create stability in financial market and growth for Indian economy: Nilesh Shah, ET BFSI
Nilesh Shah, MD, Kotak AMC, says “the monetary policy is reaffirming that RBI's policy will create stability in the financial market, trust in the financial market, and growth for the Indian economy. The equity markets today will be less bothered about food inflation....
Latest news on Russia and the war in Ukraine
Ukraine has prevailed to "stabilize" its battlefield positions: ZelenskyyUkraine's President Volodymyr Zelensky looks on during a press conference with French President at the presidential Elysee palace in Paris on February 16, 2024, after signing a bilateral security...
RBI to review liquidity coverage ratio norms for banks, ET BFSI
Mumbai: The RBI has decided to undertake a comprehensive review of the liquidity coverage ratio (LCR) framework for banks to prevent a situation where a sudden withdrawal of money by a very large number of customers from their accounts could precipitate financial...
Trump loses bids to dismiss classified docs, Georgia election cases
Former US President Donald Trump arrives at 40 Wall Street after his court hearing to determine the date of his trial for allegedly covering up hush money payments linked to extramarital affairs in New York City on March 25, 2024. Charly Triballeau | AFP | Getty...
Trump defends Truth Social from critics as media stock whipsaws
Donald Trump on Thursday defended his social media platform Truth Social as a growing chorus of critics — and short sellers — view its parent company as a meme stock with a vastly overinflated share price.Trump, in two lengthy posts on Truth Social, accused the...
U.S. economy world’s best; Trump claims ‘cesspool.’ Data is clear
U.S. President Joe Biden, delivers remarks on the U.S. economy and his administration's effort to revive American manufacturing, during his visit in Flex LTD, a factory that makes solar energy microinverters, in West Columbia, South Carolina, U.S. July 6,...
Trump loses bid to dismiss Georgia election case on free speech grounds
Former U.S. President Donald Trump speaks to the media at Atlanta Hartsfield-Jackson International Airport after surrendering at the Fulton County jail on August 24, 2023 in Atlanta, Georgia.Joe Raedle | Getty ImagesA judge on Thursday denied an effort by Donald Trump...
Trump Media stock is ‘a scam’ Barry Diller says
Trump Media is "a scam," and people buying its high-flying stock are "dopes," IAC and Expedia Chairman Barry Diller said Thursday in a scathing takedown of the social media company whose majority shareholder is former President Donald Trump."I mean, it's ridiculous,"...
EU drops sovereignty requirements in cybersecurity certification scheme: Document, ET BFSI
Amazon, Alphabet's Google and Microsoft may find it easier to bid for the European Union (EU) cloud computing contracts after draft cybersecurity labelling rules scrapped a requirement that vendors should be independent from non-EU laws, according to the document seen...
EU banks are ‘robust’ as some loans show stress, says watchdog, ET BFSI
LONDON - Banks in the European Union hold record high levels of capital backed by improving levels of liquidity, but there are early signs that loans, such as those linked to real estate, have come under pressure, the bloc's banking watchdog said on Thursday.The...
Southeast Asian countries consider ways to boost ‘green financing’ as region chokes on smog, ET BFSI
LUANG PRABANG: Senior finance and central bank officials from Southeast Asia and major economies met Thursday in the scenic Laotian city of Luang Prabang to discuss ways to help the region build resilience against shocks like the COVID-19 pandemic and natural...
Japan won’t intervene unless yen slides below 155, says ex-FX diplomat Watanabe, ET BFSI
TOKYO - Japanese authorities likely won't intervene in the currency market unless the yen plunges below 155 to the dollar, former top currency diplomat Hiroshi Watanabe said on Thursday.Markets are on alert for the chance of yen-buying intervention by Japanese...
Impact on RBI, biz, food & GDP, ET BFSI
When one thinks of summers, one thinks of ice cream. What does one think when one thinks of heat waves? With weather experts warning that intensity and frequency of heat waves will only increase in India in future, extreme heat will not only make daily life...
Currency markets are in a deep freeze. Rate cuts and Trump could thaw them, ET BFSI
LONDON - Traders and investors are looking to global interest rate cuts and a closely-fought U.S. election to drag the world's currency markets from their deepest lull in almost four years.Measures of historical and expected volatility - how much prices move over a...
Trump loses late bid to delay New York hush money trial
Former U.S. President Donald Trump speaks after attending a wake for New York City Police Department (NYPD) officer Jonathan Diller, who was shot and killed while making a routine traffic stop on March 25 in the Far Rockaway section of Queens, in Massapequa Park, New...
Will RBI MPC heed PM Modi’s call to prioritise growth and cut rates?, ET BFSI
The Reserve Bank of India (RBI), which has prioritised growth over inflation for nearly two years, may face challenges in shifting its focus on price stability, despite Prime Minister Narendra Modi's call for emphasizing growth. Modi's remarks came during an event...
RBI’s early rate-cut hopes dim as inflation risks linger, ET BFSI
NEW DELHI: The Reserve Bank of India will likely keep interest rates unchanged Friday, with chances of an early cut fading after the government warned of a coming heatwave and the economy grew faster than expected.The central bank will likely keep its benchmark...
Senior U.S. diplomat links AUKUS submarine pact to Taiwan
U.S. President Joe Biden delivers remarks on Australia, United Kingdom, United States (AUKUS) Partnership as Prime Minister Rishi Sunak of the United Kingdom and Prime Minister Anthony Albanese of Australia participate at Naval Base Point Loma in San Diego,...
NCLT admits insolvency resolution plea against the erstwhile promoter of DHFL Kapil Wadhawan, ET BFSI
The National Company Law Tribunal (NCLT) has admitted Union Bank of India’s application to initiate insolvency resolution proceedings against Kapil Wadhawan, the erstwhile promoter of Dewan Housing Finance (DHFL), for a Rs 3,958-crore default by the mortgage...
Trump Media is the most expensive U.S. stock to short — by far
You need a lot of cash — and guts — to short Trump Media stock right now.Trump Media, which began being publicly traded last week, is now far and away the most expensive U.S. stock to sell short, according to S3 Partners, a leading financial data marketplace...
FD investors likely to get more time to book fixed deposits at current high rates, ET BFSI
Investors who invest in fixed deposits (FDs) have had a dream run the last two years. All thanks to the repo rate hike, the interest rates on fixed deposits have touched 8% at well-known public and private sector banks. Several small finance banks even offer around 9%...
Government penalises Planify Capital for bending law to raise funds, ET BFSI
NEW DELHI: Govt has imposed a penalty on Planify Capital, which calls itself a startup marketplace to invest in startups pre-IPOs and unicorns, and a small-time retailer Mayasheel Retail for using the platform to sell shares indirectly to investors. Maximum penalty...
Former Trump advisor John Bolton says Gaza war still in early stages
Former National Security Adviser John Bolton speaks to reporters after speaking in a panel hosted by the National Council of Resistance of Iran – U.S. Representative Office (NCRI-US) at the Willard InterContinental Hotel on August 17, 2022 in Washington, DC.Anna...
Uncertainty over rate cuts wobbles US government bond market, ET BFSI
NEW YORK - Strong economic data and worries over sticky inflation are pushing investors to reassess how deeply the Federal Reserve will be able to cut interest rates this year, fueling weakness in the U.S. government bond market.Yields on the benchmark 10-year...
Latest news on Russia and the war in Ukraine
France denies readiness to talk with Russia over Ukraine: ReutersFrance has denied showing readiness for potential talks with Russia over Ukraine, refuting Moscow's account of a call on Wednesday between French Defense Minister Sebastian Lecornu and his Russian...
Indian bond yields rangebound before RBI policy decision, ET BFSI
MUMBAI - Indian government bonds were trading sideways on Thursday, as market participants awaited the Reserve Bank of India's (RBI) first monetary policy decision for this fiscal year, due on Friday.The yield on the benchmark 10-year was at 7.1004% as of 10:00 a.m....
Brothers plead guilty to Trump Media merger insider trading
Jonathan Raa | Nurphoto | Getty ImagesTwo Florida brothers pleaded guilty Wednesday in New York federal court to insider trading charges related to their purchase and sale of securities of the company that eventually merged with former President Donald Trump's social...
DA blasts Trump for trying to delay hush money trial over publicity
Former U.S. President Donald Trump attends a campaign event on April 02, 2024 in Grand Rapids, Michigan. Spencer Platt| Getty ImagesManhattan District Attorney Alvin Bragg urged a judge to reject the eleventh-hour bid by Donald Trump to delay his upcoming...
What next for RBI after completing 90 years, ET BFSI
The Reserve Bank of India (RBI) celebrated its 90th anniversary with a programme attended by Prime Minister Narendra Modi, who highlighted the institution's pivotal role in India's economic growth. As the RBI commemorates this milestone, it is not just reflecting on...
Constant vigil needed to mitigate risks in financial sector, says RBI Deputy Guv Rao, ET BFSI
Mumbai, The Reserve Bank of India (RBI) will keep continuous vigil to mitigate risks as unbridled credit growth can be deleterious to the health of a financial entity and if widespread, it could give rise to systemic concerns, Deputy Governor M Rajeshwar Rao said. In...
The European Union is introducing a tariff on imports of carbon-intensive products with implications for exporters around the world—including those in India, ET BFSI
The climate crisis show no sign of easing. Countries are falling short of their environmental pledges and the target of keeping global temperature rises below 1.5% above pre-industrial levels appears even more increasingly challenging. With progress slow, the European...
Austrian cenbank Governor Holzmann, ET BFSI
VIENNA - The European Central Bank needs to stop subsidizing commercial banks and should cut interest payments on the piles of cash lenders got from the central bank on the cheap, Austrian central bank Governor Robert Holzmann said.Commercial banks are sitting on 3.2...
India’s searing heat wave may make RBI to calm down on rate cuts, ET BFSI
A sizzling heat wave in large parts of the country will raise concerns for India’s policymakers already grappling with sticky inflation, potentially pushing back the timing for interest rate cuts, economists said.The nation’s weather office on Monday predicted...
India’s ‘Goldilocks’ economy to prompt Reseve Bank of India to keep rates on hold, ET BFSI
Strong economic growth and moderating inflation means India's central bank will have room to keep interest rates on hold at its review this week and likely until July, economists say.The Reserve Bank of India (RBI) is widely expected to keep rates unchanged on Friday,...
RBI meet starts today; panel likely to stay put on rates as CPI inflation beyond comfort zone, ET BFSI
The Reserve Bank of India’s Monetary Policy Committee is seen leaving the repo rate unchanged at 6.50% at the end of its three-day meeting, beginning on Wednesday. While the domestic growth momentum remains robust, consumer price index-based inflation is still above...
Can KYC be done via digital mode?, BFSI News, ET BFSI
Markets regulator SEBI has mandated KYC (Know Your Client) compliance for investors before starting investments in a mutual fund scheme.WHAT IS THE PROCESS FOR COMPLETING KYC BEFORE STARTING MF INVESTMENTS?To open a folio for investing in a mutual fund, an investor...
Latest news on Russia and the war in Ukraine
NATO Secretary General Jens Stoltenberg speaks during a press conference at the International Monetary Fund and World Bank annual meeting in Marrakech, Morocco, October 11, 2023.Susana Vera | ReutersNATO foreign ministers are gathering in Brussels, where the...
RBI may stay pat on rates in upcoming MPC meet this week, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting scheduled from April 3 to 5 is likely to vote for continuation of the repo rate at 6.50 per cent. The majority of MPC members are anticipated to vote for maintaining the status quo in alignment...
Indian mkts commanding high valuations on fgn investors’ optimism, trust in India growth story: Buch, ET BFSI
Mumbai: Indian capital markets are commanding high valuations as foreign investors are bullish about the country's economic growth on the back of strong domestic macroeconomic data, according to Sebi Chairperson Madhabi Puri Buch. Speaking at a CII event on corporate...
New freight crew rule tests rail industry’s clout, one year after East Palestine disaster
A Union Pacific freight train is seen traveling on April 21, 2023 in Round Rock, Texas.Brandon Bell | Getty ImagesOne year after the East Palestine, Ohio train derailment created an environmental disaster, the Biden administration on Tuesday unveiled new regulations...
“Three rate cuts this year a reasonable forecast, but it is a close call,” US Fed’s Mester says, ET BFSI
Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday she continues to expect the central bank will be able to cut rates this year and noted the June policy meeting might be when the easing kicks off if the data allows it."If the economy evolves...
Trump Media sues co-founders, accuses them of ‘severe mismanagement’
The media company that Donald Trump recently took public is suing its co-founders, accusing them of failing "spectacularly" to get the company off the ground and then trying to "thwart the deal."The lawsuit filed in Sarasota County, Florida, civil court seeks to bar...
RBI stance on underlying exposure for FX derivatives unchanged: Sources, ET BFSI
The Reserve Bank of India (RBI) has not materially changed its stance on exchange-traded rupee derivatives and neither has it asked brokerages for proof of their clients' underlying forex exposure, two sources aware of the central bank's thinking said.The RBI had said...
Biden and Xi Jinping hold phone call ahead of Yellen’s trip to China
President Joe Biden spoke with Chinese President Xi Jinping on the phone Tuesday, a call the White House described as a way for the two leaders to "check in" and responsibly manage the strained U.S.-China relationship."Intense competition requires intense diplomacy to...
Bengaluru consumer court orders MakeMyTrip to pay Rs 5.5 lakh to consumer for not getting booked room in hotel, ET BFSI
A Bengaluru consumer court has directed MakeMyTrip (MMT) to compensate a Bengalurean with Rs 5.5 lakh for failing to provide a room in a London hotel despite the booking made through their platform. Mayur Bharath, a 48-year-old resident of Osborne Road, had reserved a...
RBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Monday said nearly 97.69 per cent of the Rs 2,000 denomination bank notes have returned to the banking system, and only Rs 8,202 crore worth of the withdrawn notes are still with the public.The total value of Rs 2,000 banknotes in...
Governor Shaktikanta Das, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will ensure a strong and stable financial system that will act as a bedrock for the country's economic progress, Governor Shaktikanta Das said, underscoring central bank's efforts to shore up domestic resilience in a volatile...
Indian rupee exchange derivative volumes to plummet on RBI’s hedging rule: Brokers, ET BFSI
MUMBAI - The Indian central bank's regulation saying exchange-traded rupee derivative transactions can be undertaken only for hedging purposes will cause volumes to fall more than 80%, effectively dealing a fatal blow to this segment, four brokers said.The Reserve...
Governor Shaktikanta Das, ET BFSI
The Reserve Bank of India (RBI) will ensure a strong and stable financial system that will act as a bedrock for the country's economic progress, Governor Shaktikanta Das said, underscoring central bank's efforts to shore up domestic resilience in a volatile global...
Countries should undertake process reforms to improve economic and policy efficiency: Sanjeev Sanyal, ET BFSI
Governments worldwide should do a periodic assessment of processes under various regulations, legislations and even of the institutions as part of the process reforms to improve economic and policy efficiency, Sanjeev Sanyal, member of the Economic Advisory Council to...
SBI economist, BFSI News, ET BFSI
Chennai: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may cut repo rate only in the third quarter of FY25 and not before, said a top economist in the State Bank of India (SBI).In a research report, Soumya Kanti Ghosh, the Group Chief Economic...
Penal charge, interest on your loan? New RBI rules from April 1
New penal charge, interest rules on loans from April 1: The Reserve Bank of India (RBI) has introduced fresh guidelines regarding penal charges and penal interest on loan accounts, effective from April 1. These rules stop banks and finance companies from charging...
Florida voters will decide whether to protect abortion rights and legalize pot in November
A primary election voter enters a Tampa, Florida, polling place on Aug. 23, 2022.Octavio Jones | Getty ImagesThe Florida Supreme Court issued rulings Monday allowing the state's voters to decide whether to protect abortion rights and legalize recreational use of...
Major money changes from April 1, ET BFSI
The financial year 2024–25 begins today April 1, 2024 and with it, a few significant financial changes that can have an impact on your investment and spending. Let's see major financial changes and new norms that will take place in April 2024.The 'One Vehicle, One...
Trump seeks delay of hush money trial over ‘prejudicial’ press
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he is attending a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersAttorneys for...
India’s searing heat wave may make RBI to calm down on rate cuts, ET BFSI
A sizzling heat wave in large parts of the country will raise concerns for India’s policymakers already grappling with sticky inflation, potentially pushing back the timing for interest rate cuts, economists said.The nation’s weather office on Monday predicted...
Trump Media insider trading defendants signal possible guilty pleas
A Florida venture capitalist and his brother moved Monday toward potential guilty pleas in an insider trading case connected to the merger that took Donald Trump's social media company public last week.Michael Shvartsman, the venture capitalist, and his brother,...
Sebi launches SCORES 2.0 to strengthen investors’ complaint redressal system, ET BFSI
MUMBAI: The Securities and Exchange Board of India(Sebi) on Monday launched the new version of its complaint redress system.The new version of SCORES (Sebi Complaint Redress System) strengthens the investor complaint redress mechanism in the securities market by...
SBI forecasts 15% growth in deposits for FY25; expects RBI rate cut only in Q3FY25, ET BFSI
The State Bank of India (SBI) has unveiled expectations of substantial growth in both deposits and credit for the fiscal year 2025. SBI forecasted deposits to grow at a rate of 14.5 per cent-15 per cent and credit to expand between 16.0 per cent-16.5 per cent in FY25,...
Trump gag order must cover judge’s family, hush money trial DA says
Former President Donald Trump speaks during a press conference at 40 Wall Street after a pre-trial hearing on March 25, 2024 in New York City. Michael M. Santiago | Getty ImagesDonald Trump's "extreme and deliberate provocations" in his hush money trial are aimed to...
ESGDS’ Ramnath Iyer, ET BFSI
Adoption of environmental, social and governance (ESG) rules and practices is not just a choice today but a necessity driven by global value chains, government incentives and corporate initiatives. For MSMEs, ESG practices are considered pivotal for business...
Latest news on Russia and the war in Ukraine
Russian President Vladimir Putin (L) and Belarussian President Alexander Lukashenko (R) enter the hall during the plenary session of the Supreme Council of Russia and Belarus, at the Konstantin Palace on January 29, 2024, in Saint Petersburg, Russia. Contributor |...
Not just Paytm Bank, RBI took stringent action against FIs across the board in FY24, ET BFSI
The Reserve Bank of India (RBI) took stringent action across the financial space in the last fiscal and not just on Paytm Bank as is evident from the more than doubling of the penalties and fines imposed by it during the year.The central bank imposed monetary...
Multiple price auctions make a comeback, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) is reverting to the multiple price method for all auctions of government bonds, three years after the Centre's money manager had moved to the uniform price method to curb volatility in the sovereign bond market amid the Covid...
Food charity says seven of its workers killed in Israeli airstrike
A boy holds out an empty pot as he waits with other displaced Palestinians queueing for meals provided by a charity organisation ahead of the fast-breaking "iftar" meal during the Muslim holy month of Ramadan, in Rafah in the southern Gaza Strip on March 16, 2024,...
Trump stock earnout poses ethics concerns if he’s president: experts
Donald Trump's scheduled earnout through the parent company of Truth Social presents opportunities for outside interests if he were to defeat Joe Biden and become president again, according to experts.Trump, who owns more than 50% of Trump Media and Technology Group's...
Trump Media lost $58 million last year, SEC filing shows
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesThe share price of Trump Media fell sharply Monday...
Goldman Sachs sees MPC keeping policy rates unchanged on April 5 MPC meet, ET BFSI
Goldman Sachs expects the RBI MPC to keep the policy repo rate unchanged at the April 5 meeting at 6.50%, retain the monetary policy stance of ‘withdrawal of accommodation’, sound optimistic on growth, and continue to reiterate the commitment to the 4% headline...
First meeting set for April 3-5; know the full schedule for this fiscal year, ET BFSI
RBI MPC schedule for FY25: The Reserve Bank of India (RBI) has announced its schedule for the Monetary Policy Committee (MPC) meetings for the fiscal year 2024-25 (FY25), commencing from April 1, 2024. The central bank has said that the first monetary policy meeting...
‘One Vehicle, One FASTag’ norm comes into force, ET BFSI
State-owned National Highways Authority of India's 'One Vehicle, One FASTag' norm, which aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, has come into force from Monday, a senior official said....
RBI directs banks to step up hassle-free loans to Self Help Groups, ET BFSI
Mumbai: The RBI on Monday directed all banks to provide adequate incentives to their branches in financing the Self Help Groups (SHGs) and establish linkages with them, making the procedures simple and easy. "The group dynamics of working of the SHGs need neither be...
Israeli troops leave Gaza’s Shifa Hospital a wreck in sea of rubble
Maxar satellite imagery of the al Shifa Hospital in Gaza City, Gaza. Maxar Technologies | Getty ImagesIsraeli forces have withdrawn from Al Shifa Hospital in Gaza City after a two-week operation, the Israeli military said on Monday, leaving behind a wasteland of...
Monetary tightening measures by RBI stabilised G-sec yields, contributed to investor confidence in Indian economy: Nirmala Sitharaman, ET BFSI
Mumbai (Maharashtra) [India], April 1 (ANI): Finance Minister Nirmala Sitharaman on Monday said that measures taken for monetary tightening has stabilised yields of government securities, which has contributed to the overall financial market resilence in investor...
TP Ostwal on how new tax laws will help MSMEs and its pitfalls, ET BFSI
TP Ostwal, Tax Expert, strikes a word of caution. He says: “I would take a view that if the interest liability is already provided, which is penal in nature, why should there be a disallowance if the taxpayer makes the payment before filing his tax return to the MSME?...
Pakistan court grants Imran Khan appeal of graft conviction, sentence suspended
Pakistan's former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. Mohsin Raza | ReutersA Pakistani court on Monday granted former Prime Minister Imran Khan an appeal of his conviction for...
RBI DG Rajeshwar Rao, ET BFSI
The Reserve Bank of India's deputy governor, Rajeshwar Rao, said there is always the possibility of a trade-off between regulation and innovation.Speaking at an event in Mumbai Saturday evening, he said, "We need to remain alert to the spawning of new ideas and trends...
Real interest rates need to climb before RBI’s easing cycle begins, ET BFSI
Mumbai: Late last month, the Swiss National Bank became the first major industrial economy to unexpectedly reduce rates, raising the question whether the pivot has finally arrived for more central banks around the world to follow the example of its conservative...
RBI’s professional management helped in dealing with external uncertainties: FM Sitharaman, ET BFSI
Mumbai: Finance Minister Nirmala Sitharaman on Monday said the professional management of the Reserve Bank of India (RBI) significantly improved India's capacity to take care of external imbalances and uncertainties. Speaking at the occasion of 90th anniversary of the...
Stable, strong financial system to act as bedrock for economic progress: RBI Governor, ET BFSI
Mumbai: The Reserve Bank of India Governor Shaktikanta Das on Monday said that the endeavour of the central bank would be to provide a stable and strong financial system over the next decade, which will act as the bedrock for the country's economic progress. Over the...
Turkey opposition stuns in local elections victory over Erdogan party
Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey. Hakan Akgun | Getty ImagesTurkey's opposition won a stunning victory across...
“Just the trailer..” PM Modi heaps praises on the RBI for transforming India in the last 10 years, ET BFSI
The Reserve Bank of India has played an appreciation-worthy role in the transformation of India's banking system and the economy in the last ten years, Prime Minister Modi said while speaking at the central bank's 90th anniversary event in Mumbai on Monday."When I...
PM Modi at RBI’s 90th anniversary ceremony, ET BFSI
NEW DELHI: Prime Minister Narendra Modi on Monday addressed an event commemorating the 90th anniversary of the Reserve Bank of India in Mumbai.PM Modi while addressing the ceremony said that central government in its effort to revive PSU banks, injected Rs 3.5 lakh...
Baltimore bridge collapse a ‘national economic catastrophe’
The collapsed Francis Scott Key Bridge lies on top of the container ship Dali in Baltimore, Maryland, on March 29, 2024. Mandel Ngan | Afp | Getty ImagesThe collapse of Baltimore's Francis Scott Key Bridge on Tuesday is likely to send shock waves across the U.S....
RBI may hold rate yet again to focus on inflation management, say experts, ET BFSI
The RBI may again keep the key interest rate unchanged in April as it is likely to focus more on bringing down inflation to the 4 per cent target after concerns over economic growth abated with GDP growth estimated at nearly 8 per cent, said experts. Also, the Reserve...
RBI mulls to set up Digital India Trust Agency to check illegal lending apps, ET BFSI
As part of its efforts to curb growing cyber fraud, the Reserve Bank is considering establishing a Digital India Trust Agency (DIGITA) to stop the mushrooming of illegal lending apps. The proposed agency will enable verification of digital lending apps and maintain a...
Exporters seek exemption from 45-day payment rule for supplies from MSEs, ET BFSI
Indian exporters have urged the government to exempt them from the 45-day payment rule for goods bought from micro and small enterprises (MSEs) as it will impact their businesses. In a letter to Prime Minister Narendra Modi, chiefs of major export promotion councils...
RBI DG Rajeshwar Rao, ET BFSI
The Reserve Bank of India's deputy governor, Rajeshwar Rao, said there is always the possibility of a trade-off between regulation and innovation.Speaking at an event in Mumbai Saturday evening, he said, "We need to remain alert to the spawning of new ideas and trends...
Baltimore engineers begin clearing bridge wreckage to reopen channel
The cargo ship Dali sits in the water after running into and collapsing the Francis Scott Key Bridge on March 26, 2024 in Baltimore, Maryland. Kevin Dietsch | Getty ImagesEngineers in Maryland on Saturday began lifting a piece of Francis Scott Key Bridge out of the...
Sebi chief on T+0 settlements, ET BFSI
Attaining the global first of T+0 settlement involved a lot of problem-solving and personal discomforts, Sebi chairperson Madhabi Puri Buch has said giving the analogy of "onion peeling" for the achievement. Speaking at the annual convocation of the Indian Institute...
Trump asks appeals court to review ruling allowing Fani Willis to remain on Georgia election case
District Attorney Fani Willis holds a press conference in the Fulton County Government Center after a grand jury voted to indict former US President Donald Trump and 18 others on August 14, 2023, in Atlanta, Georgia. Christian Monterrosa | AFP | Getty ImagesFormer...
No hurry to cut interest rates, US Fed Chair indicates, ET BFSI
New York [US], March 30 (ANI): The US Federal Reserve on Friday indicated that it was not in any hurry to cut interest rates.In his address at an event hosted by the San Francisco Fed on Friday, US Fed Chair Jerome Powell said "We don't need to be in a hurry to...
Protesters interrupt Biden, Obama, Clinton at $25 million New York fundraiser
Protestors, calling for ceasefire in Gaza, attend a demonstration near Radio City Music Hall in Manhattan, on the day of a fundraising event for U.S. President Joe Biden with him and former U.S. Presidents Barack Obama and Bill Clinton, amid the ongoing conflict...
Russian veto points to ‘grim future’ for North Korea sanctions enforcement
Russian President Vladimir Putin and North Korean leader Kim Jong Un during their meeting at the Vostochny Cosmodrome in the Amur region on Sept. 13, 2023.Vladimir Smirnov | Afp | Getty ImagesRussia's move to effectively disband the panel of experts monitoring...
Trump selling bibles, sneakers, perfume on campaign trail unprecedented
Former President Donald Trump selling God Bless America Bibles on Truth Social.Source: Truth SocialSneakers. Perfume. Trading cards. Bibles.Those are just some of the products Donald Trump is hawking while he runs to unseat President Joe Biden.They join a sprawling...
PPF, SSY, Senior Citizen Savings Scheme, other post office schemes interest rates for April- June quarter 2024, ET BFSI
The government revises small savings schemes interest rates every quarter. For the quarter April-June 2024, the government has kept the interest rates of post office schemes unchanged from the rates prevailing during the January March 2023 quarter."The rates of...
Short yuan-long rupee trades catch the eye, RBI unlikely to stay on sidelines, ET BFSI
Mumbai: The Federal Reserve's commentary and the course of the dollar may dominate global market discussions, but a set of India-focused investors are moving their rupee trading calls to the Chinese yuan from the greenback, with Mint Road seen smoothening swings in...
Here’s all you need to know, ET BFSI
India's stock market is set to usher in the T+0 settlement system from today, making it among the handful of countries to implement the shorter trade settlement cycle. To start with, a 'beta version' will be implemented to ensure the smooth functioning of the shorter...
Exchange, deposit at RBI offices won’t be available on April 1, ET BFSI
The window for the exchange or deposit of Rs 2000 banknotes at RBI regional offices will not be available on Monday, April 1, RBI said on Thursday.The central bank cited operations related to "Annual Closing of Accounts" as the reason behind the unavailability of...
Biden okays $60 million in aid after Baltimore bridge collapse as governor warns of ‘very long road ahead’
U.S. President Joe Biden speaks about on the ongoing response to the Key Bridge collapse in Baltimore, Maryland, during brief remarks prior to departing the White House in Washington, U.S., March 26, 2024. Craig Hudson | ReutersMaryland Gov. Wes Moore warned Thursday...
Rate hikes not fully transmitted, RBI may hold repo in April meet, ET BFSI
The Reserve Bank of India (RBI) is likely to stick to its policy stance of 'withdrawal of accommodation', stating that less than half of the 250-basis-point cumulative increase in rates in the current cycle of rate hardening was transmitted to outstanding bank loans....
Turkey’s local elections — and whoever wins Istanbul — could dictate future
As the sunsets, a ferry boat glides across the waters of the Golden Horn with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. Vw Pics | Universal Images Group | Getty ImagesTurkish President Recep Tayyip Erdogan once said that whoever wins...
RBI deputy guv, ET BFSI
India can achieve a growth rate of 10 per cent in the next decade and become the second-largest economy by 2032 and the largest by 2050, given the energies and transformation driving the nation to overcome its challenges, said RBI Deputy Governor Michael Debabrata...
What would Japanese intervention to boost a weak yen look like?, ET BFSI
TOKYO - Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as traders drive down the currency on expectations that any further interest rate hikes by the central bank will be slow in forthcoming.The yen rallied after Tokyo...
Govt plans to borrow Rs 7.5 lakh cr from market in H1FY25 including Rs 12,000 cr via Sovereign Green Bonds, ET BFSI
The Finance Ministry plans to borrow Rs 7.50 lakh crore, 53 per cent of its overall FY25 target, in the first half, it said on Wednesday.The gross market borrowing of Rs 7.50 lakh crore shall be completed through 26 weekly auctions, it added.In the ongoing financial...
8 reasons why old tax regime is still attractive for many taxpayers in this income tax bracket, ET BFSI
If your income falls under the taxable category, you have to choose between the old tax regime and the new tax regime to calculate taxes. While the income tax rates are relatively lower in the new tax regime, the old tax regime gives you an opportunity to claim higher...
Coinbase must face US securities regulator’s lawsuit, says judge, ET BFSI
A federal judge in Manhattan on Wednesday said the US Securities and Exchange Commission's lawsuit against Coinbase can move forward, but dismissed one claim the regulator made against the largest US cryptocurrency exchange. US District Judge Katherine Polk Failla...
RBI eases AIF norms, clarifies provisioning rules, ET BFSI
The Reserve Bank of India (RBI) has relaxed its regulations concerning lenders' investments in alternative investment funds (AIFs) following feedback from stakeholders. This decision comes after the central bank tightened norms in December 2023 to address concerns...
RBI gives banks and NBFCs a breather on AIF investments, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India Wednesday cushioned the blow on banks and NBFCs that invest in Alternative Investment Funds (AIFs). The investments will exclude equity investments, but debt and hybrid instruments will continue to face additional curbs the regulator...
China’s solar, EV surplus could be dumped on global markets
U.S. Treasury Secretary Janet Yellen testifies during a hearing before the Financial Services and General Government Subcommittee of the House Appropriations Committee at Rayburn House Office Building on Capitol Hill on March 21, 2024 in Washington, DC. Alex Wong |...
RBI releases schedule for 2024-25 monetary policy meetings, ET BFSI
The Reserve Bank of India (RBI) has released the schedule for the monetary policy meetings for the financial year 2024-25.The first meeting of the year is scheduled for April 3-5, 2024.The other five meetings are scheduled for June 5-7, 2024; August 6-8, 2024; October...
Latest news on Russia and the war in Ukraine
Ukraine claims Russia knew terror attack was comingKYIV, UKRAINE - MARCH 10: Kyrylo Budanov, Chief of the Main Directorate of Intelligence of Ukraine, speaks during the farewell ceremony for Dmytro Kotsiubailo on Independence Square on March 10, 2023 in Kyiv, Ukraine....
Finance Minister Nirmala Sitharaman, ET BFSI
Finance Minister Nirmala Sitharaman has revealed that she turned down the Bharatiya Janata Party's (BJP) invitation to contest in the upcoming Lok Sabha elections due to financial constraints. Speaking at the TIMES NOW Summit 2024, Sitharaman disclosed that BJP...
Introduction of T+0 rolling settlement cycle in capital market segment implemented for selected stocks, ET BFSI
Mumbai (Maharashtra) [India], March 28 (ANI): The National Stock Exchange of India Limited (NSE) has introduced the T+0 rolling settlement cycle in the Capital Market segment.As per SEBI (Securities and Exchange Board of India) regulation, the National Stock Exchange...
TikTok makes ad buy as Senate reviews bill that could ban app
CMichael M. Santiago | Getty ImagesTikTok has launched a $2.1 million advertising campaign with a clear message for senators in tough reelection fights this year: Block the House bill that could effectively ban the app in the United States."Think about the 5 million...
Trump targets hush money trial judge’s daughter one day after gag order
Former President Donald Trump speaks during a press conference at 40 Wall Street on March 25, 2024 in New York City. Michael M. Santiago | Getty ImagesDonald Trump on Wednesday again targeted on social media the daughter of the judge in his upcoming criminal hush...
Disney and Florida settle lawsuit over DeSantis special district fight
Central Florida Tourism Oversight District board chairman Martin Garcia, right, delivers remarks as Florida Gov. Ron DeSantis listens during a news conference at CFTOD headquarters at Walt Disney World on Thursday, Feb. 22, 2024, in Lake Buena Vista, Florida. Joe...
European Central Bank looks for three new bank supervisors, ET BFSI
FRANKFURT - The European Central Bank is looking for three new bank supervisors to oversee the bloc's biggest lenders, replacing officials whose term is expiring later this year, the bank said in a vacancy notice on Wednesday.The five-year, non renewable terms of...
RBI keen to further build up record high forex reserves: Sources, ET BFSI
MUMBAI - India's central bank will keep building its forex reserves as it seeks to build larger buffers, and strong inflows into the country's equity and debt markets give it an opportunity to do so, two sources familiar with the bank's thinking said.The Reserve Bank...
Swedish central bank holds rates, flags cut in May or June, BFSI News, ET BFSI
STOCKHOLM - Sweden's central bank held its key rate unchanged at 4.00% on Wednesday as expected and said that inflation pressures had now eased enough for the policy rate to be cut in the coming months.Headline inflation is now close to the central bank's 2% target...
Qatari royal invested $50 million in pro-Trump news channel Newsmax: report
Signage for the Newsmax conservative television broadcasting network is displayed at a broadcast TV booth at the National Rifle Association (NRA) annual meeting at the George R. Brown Convention Center, in Houston, Texas on May 28, 2022. Patrick T. Fallon | Afp |...
CPAI seeks timely clarification on RBI’s new rule on exchange-traded rupee derivatives, ET BFSI
New Delhi: The Commodity Participants Association of India (CPAI) on Wednesday sought timely clarification and Frequently Asked Questions (FAQs) document from the stock exchanges on the RBI's new rule for rupee derivatives that will come into effect on April 5. The...
5 key announcements by RBI in FY24, BFSI News, ET BFSI
Representative imageWhile in the financial year 2024, India has witnessed many impactful events like geopolitical tensions worldwide, central banks globally hiking rates, the IPO boom, important M&A deals and much more, the Indian Central Bank has been quite...
Latest news on Russia and the war in Ukraine
U.S. defended Ukraine too quickly after terror attack, Russian foreign ministry saysRussian officials continue to accuse the West and Ukraine of involvement in the Crocus City Hall attack last Friday in which 139 people were killed.Ukraine denies any involvement and...
No tango with repo, yet RBI moves ease rates, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may not have officially lowered policy rates yet or demonstrated any intent to do so in the immediate future, but a steady injection of funds over the past few weeks into a liquidity-parched financial system has helped...
Feds sue to seize New York apartments in alleged Mongolia scheme
Batbold Sukhbaatar of Mongolia addresses the Millennium Development Goals Summit at the United Nations headquarters in New York, September 22, 2010.Emmanuel Dunand | AFP | Getty ImagesFederal prosecutors on Tuesday sued to seize two New York City apartments worth $14...
India’s CAD dips to USD 10.5 billion in October-December: RBI, ET BFSI
New Delhi, India's current account deficit declined to USD 10.5 billion or 1.2 per cent of the GDP in October-December quarter from USD 11.4 billion in the previous three months and USD 16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday. Net FDI...
Trump hit with gag order in New York hush money case after slamming judge
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he is attending a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersA judge on...
Trump selling $60 ‘God Bless the U.S.A.’ Bibles with Lee Greenwood
Republican presidential candidate and former President Donald Trump at a campaign rally in Rochester, New Hampshire on January 21, 2024 .Alex Wong | GettyDonald Trump on Tuesday started promoting a line of pricey Bibles in a partnership with country music star Lee...
Trump attacks hush money judge, points to daughter’s political work
Former President Donald Trump speaks during a press conference at 40 Wall Street on March 25, 2024 in New York City. Michael M. Santiago | Getty ImagesDonald Trump on Tuesday lashed out at the judge in his criminal hush money case — and verbally took aim at the...
A ‘feeble’ Trump is ‘lying about having money’
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he attended a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersA court ruling...
Trump Media stock ticker DJT debuts after DWAC merger
In this photo illustration a smartphone screen displays the logo of Donald Trump's Truth Social app March 25 2024 in Bath, England. Anna Barclay | Getty ImagesThis old stock ticker DJT is new again for Donald Trump's social media company.Trump Media & Technology...
Feds raid Sean Combs properties in LA, Miami on New York warrants
Federal agents raided homes owned by hip-hop mogul Sean Combs in Los Angeles and Miami as part of a criminal probe based in New York, NBC News reported, citing sources.U.S. Department of Homeland Security agents who raided Combs' properties were authorized to search...
Trump’s net worth reportedly soars to $6.5 billion after stock jumps
Former US President Donald Trump arrives at 40 Wall Street after his court hearing to determine the date of his trial for allegedly covering up hush money payments linked to extramarital affairs in New York City on March 25, 2024. Charly Triballeau | AFP | Getty...
UK court rules Julian Assange can appeal his extradition to the U.S.
WikiLeaks' founder Julian Assange leaves Westminster Magistrates Court in London, Britain.Henry Nicholls | ReutersWikiLeaks founder Julian Assange on Tuesday was granted permission by a U.K. court to appeal his extradition to the U.S., where he is wanted on spying...
India making mistake believing ‘hype’ about growth: Raghuram Rajan, ET BFSI
India is making a big mistake believing the “hype” around its strong economic growth since there are significant structural problems that need to be fixed for the country to meet its potential, former central bank Governor Raghuram Rajan said.The biggest challenge a...
U.S. eyes change to military command in Japan as China threat looms: Reuters
U.S. President Joe Biden (L) and Japanese Prime Minister Fumio Kishida (R) will agree next month to tighter military cooperation, including talks on the biggest potential change to Washington's East Asia command structure in decades, two sources said.Kiyoshi Ota | AFP...
India’s central bank likely to hold rates steady until at least July- Reuters poll, ET BFSI
By Milounee PurohitBENGALURU - The Reserve Bank of India (RBI) will keep interest rates unchanged until at least July, a bit longer than the U.S. central bank is expected to do so, on strong growth and still-elevated inflation, according to a firm majority of...
India’s growth projected at 6.8 per cent, inflation to decline to 4.5 percent: S&P Ratings, ET BFSI
New Delhi [India], March 26 (ANI): S&P Global Ratings has revised India's growth projection from 6.4 per cent to 6.8 per cent. After a better-than-expected 7.6% growth in fiscal year 2024 estimated by the National Statistical Office, S&P India pegged real GDP...
U.S. abstention on UN cease-fire vote triggers Netanyahu rage
US Ambassador to the United Nations Linda Thomas-Greenfield votes abstain during a vote on a resolution calling for an immediate ceasefire in Gaza during a United Nations Security Council meeting on the situation in the Middle East, including the Palestinian question,...
ECB moving towards rate cut, Italy’s Panetta says, ET BFSI
ROME, - The European Central Bank (ECB) is moving towards an interest rate cut as inflation is falling rapidly and approaching the bank's 2% target, Bank of Italy Governor Fabio Panetta said on Monday.Addressing an event in Rome, Panetta said the inflation trend was...
Australia, New Zealand condemn China-linked cyberattacks
New Zealand and China flag together Oleksii Liskonih | Istock | Getty ImagesNew Zealand has accused China of "malicious cyber activity" linked to Chinese state actors, who targeted its parliament in 2021.The government "expressed concerns today about malicious cyber...
Raise component for ETFs within cap, RBI, BFSI News, ET BFSI
Reluctance by RBI to allow higher limits for overseas equity investments through mutual funds is seen more as a risk-mitigation exercise than an effort to stabilise the rupee. The $7 bn ceiling on mutual fund investments in stocks listed on foreign bourses, and a $1...
Fed’s Goolsbee says he sees three rate cuts this year, ET BFSI
- Chicago Federal Reserve Bank President Austan Goolsbee said on Monday that at the Federal Reserve's policy meeting last week he penciled in three rate cuts for this year.At that meeting, the U.S. central bank kept its benchmark overnight lending rate in a target...
Latest news on Russia and the war in Ukraine
Putin says 'Islamist radicals' carried out terror attack, but insists on Ukraine linkIn this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin holds a meeting on measures taken after a massacre in the Crocus City Hall...
UN Security Council demands immediate ceasefire in Gaza
US Ambassador to the United Nations Linda Thomas-Greenfield votes abstain during a vote on a resolution calling for an immediate ceasefire in Gaza during a United Nations Security Council meeting on the situation in the Middle East, including the Palestinian question,...
Donald Trump raises money for campaign and to help pay legal bills
Republican presidential nominee Donald Trump is interviewed by investor John Paulson at the Economic Club of New York luncheon in Manhattan, New York, U.S., September 15, 2016Mike Segar | Reuters Veteran investor John Paulson has called allies on Wall Street to make...
Netanyahu cancels Israeli delegation to U.S. over UN Gaza vote
Israeli Prime Minister Benjamin Netanyahu addresses the Conference of Presidents of Major American Jewish Organizations, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Jerusalem, February 18, 2024. Ronen Zvulun | ReutersIsraeli...
DWAC climbs after merger with Donald Trump’s media group approved
Pavlo Gonchar | SOPA Images | Lightrocket | Getty ImagesShares of Digital World Acquisition Corp. soared about 25% on Monday after the approval of a merger between the shell company and the social media group owned by former President Donald Trump.DWAC shareholders...
Truth Social owner Trump Media will begin trading under DJT ticker Tuesday
Jonathan Raa | Nurphoto | Getty ImagesFormer President Donald Trump's newly merged social media company will begin trading under the stock ticker symbol DJT on Tuesday, the firm said in a new regulatory filing.The company, which owns the Truth Social app platform,...
Trump New York fraud bond cut to $175 million in appeal from $454 million
Former US President Donald Trump attends a hearing to determine the date of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on March 25, 2024. Justin Lane | Afp | Getty ImagesA New...
Biden trolls Trump golf championship boast
Retired professional golfer Jack Nicklaus presents Republican presidential candidate and former President Donald Trump with the 2024 Trump International Golf Club Most Improved Player award on March 24, 2024, in West Palm Beach, Florida. Joe Raedle | Getty...
Trump attends hush money case hearing as he seeks trial delay
Former U.S. President Donald Trump sits in the courtroom at a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | ReutersDonald Trump is attending a New York court hearing...
UN chief urges massive Gaza aid flow, sees ‘dramatic starvation’
Secretary-General Antonio Guterres press briefing at UN Headquarters on climate crisis following the recent travel to Chile and Antarctica. Secretary-General answered questions on upcoming COP28 meeting in Dubai and continued war between Israel and Hamas.Lev Radin |...
Tammy Murphy drops out of NJ Senate race to unseat Sen. Bob Menendez
First Lady of New Jersey Tammy Snyder Murphy speaks as Governor Philip D. Murphy sworn in for his second term in office as the 56th Governor of the State of New Jersey at War Memorial Building in Trenton, New Jersey, United States on January 18, 2022.Tayfun Coskun |...
Latest news on Russia and the war in Ukraine
At least 200,000 users without power in Kharkiv and nearby regions after Russian strikes, Ukrainian officials sayMore than 200,000 electricity consumers in Kharkiv city and a regional district are without stable power supply following Russian strikes, Ukrainian...
Bank of Japan board agrees chance of meeting inflation target rising gradually, minutes show, ET BFSI
At January's two-day policy-setting meeting, the BOJ maintained its ultra-easy monetary settings but signalled its growing conviction that conditions for phasing out its huge stimulus were falling into place. Updated On Mar 25, 2024 at 07:50 AM IST TOKYO: The Bank of...
Controlled inflation gives elbow room, BFSI News, ET BFSI
Finmin has an optimistic projection on the inflation trajectory that, if shared by RBI, could signal a resumption of interest-rate cuts earlier than anticipated. True, core inflation - filtering out volatile food and fuel prices and the metric that rate-setters watch...
House Republicans ramp up Speaker Johnson pressure after budget saga
House Freedom Caucus member U.S. Representative Chip Roy (R-TX) speaks during a press conference regarding federal government spending on Capitol Hill in Washington, September 12, 2023.Elizabeth Frantz | ReutersAfter six months of budget deadlocks, stopgap funding...
Trump fraud judgment deadline looms as son complains
Former U.S. President Donald Trump speaks to the media after voting at a polling station setup in the Morton and Barbara Mandel Recreation Center on March 19, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesDonald Trump faces the severe risk that New York's...
Kyiv, Lviv under Russian air attack; missile violates Polish airspace
Ukrainian forces continue to investigate the area where rocket fragments fell in a park in Kyiv, Ukraine on March 24, 2024.Anadolu | Anadolu | Getty ImagesRussia launched 57 missiles and drones onUkraine on Sunday, including attacking Kyiv and the western Ukrainian...
Trump praises Truth Social after DWAC stock plunge
Zoom In IconArrows pointing outwardsChart for price of shares in Digital World Acquisition Corp. in days leading up to and including shareholder approval of merger with Donald Trump's social media company.CNBCDonald Trump on Saturday told his many online followers, "I...
Biden signs $1.2 trillion spending package
U.S. President Joe Biden and Vice President Kamala Harris meet with (L-R) Senate Minority Leader Mitch McConnell (R-KY), House Speaker Mike Johnson (R-LA), Senate Majority Leader Chuck Schumer (D-NY), House Minority Leader Hakeem Jeffries (D-NY), on February 27, 2024...
All-tolerant Powell sends Wall Street into a buying frenzy, ET BFSI
Arguments on Wall Street rage anew over Federal Reserve policy — and how Jerome Powell should handle soaring asset prices. Yet for traders there’s no debate about what to do right now as they sink money across markets of all stripes.More cash has been sent to...
AYUSH Ministry Secretary, ET BFSI
New Delhi: The 7th CII AYUSH Conclave, organised by the Confederation of Indian Industry was held on Friday on the theme "Emerging trends in AYUSH: Unleashing the market potential".The conclave has brought together opinion and thought leaders from AYUSH industry,...
RBI offices to remain open for greater convenience of taxpayers on March 30, 31, ET BFSI
RBI offices to remain open for greater convenience of taxpayers on March 30, 31New Delhi: For the convenience of taxpayers, RBI offices dealing with government business and all designated branches of agency banks will keep their counters open as per normal working...
Elon Musk’s SpaceX hit with NLRB complaint over severance
The SpaceX logo is shown on a Falcon 9 rocket as it is prepared for launch to carry NASA's SpaceX Crew-8 astronauts Matthew Dominick, Michael Barratt, and Jeanette Epps, and Roscosmos cosmonaut Alexander Grebenkin to the International Space Station at the Kennedy...
Trump claims to have about $500m cash as he fights fraud appeal bond
Former U.S. President Donald Trump delivers remarks after exiting the courtroom as he attends his Manhattan courthouse trial in a civil fraud case in New York, October 18, 2023.Brendan McDermid | ReutersDonald Trump on Friday claimed to have nearly half a billion...
DWAC stock falls after merger approved
Jonathan Raa | Nurphoto | Getty ImagesThe price of shares in Digital World Acquisition Corp. fell by more than 12% Friday morning after the shell company's shareholders approved a merger with the social media company owned by Donald Trump.DWAC had opened the trading...
China securities regulator launches inspections of mutual funds, ET BFSI
SHANGHAI - China's securities regulator has launched onsite inspections of some mutual fund companies as part of efforts to strengthen management of the industry, unnerving fund managers. The securities watchdog, under newly appointed Chairman Wu Qing, vowed a week...
Trump social media firm merger approved by DWAC shareholder
This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesShareholders in Digital World Acquisition Corporation...
China gloom sucks life out of rate cut cheer in Asia, ET BFSI
SINGAPORE -The yuan fell sharply on Friday and Chinese shares skidded, dragging down markets broadly in Asia and dampening an equity rally spurred by a surprise rate cut in Switzerland that had investors wagering on who will ease policy next.Traders also were on high...
Government not in favour of regulatory intervention in stock markets: Report, ET BFSI
The finance ministry is not in favour of any major regulatory intervention in the stock market, and believes that over-regulation could lead to nervousness among participants, ETNow news channel reported, quoting sources. The news comes in the backdrop of the recent...
Immigration is boosting the U.S. economy and has been ‘underestimated’
U.S. commuters.Caroline Purser | The Image Bank | Getty ImagesThe recent influx of immigration into the U.S. is helping to bolster the economy despite a raft of global challenges, according to Joyce Chang, chair of global research at JPMorgan.The U.S. Federal Reserve...
The great central bank policy reversal kicks off, BFSI News, ET BFSI
The world's biggest central banks are on the starting line of reversing a record string of interest rate hikes but the way down for borrowing costs will look very different from the way up.There will be no floodgates or fireworks. Instead, banks on opposite sides of...
RBI asks SROs in framework, ET BFSI
The Reserve Bank of India (RBI) has issued an omnibus framework for recognising Self-Regulatory Organisations (SROs) on Thursday that prescribes the broad objectives, functions, eligibility criteria and governance standards, which will be common for all SROs,...
As $1b limit nears, MFs told to suspend overseas ETF inflows, BFSI News, ET BFSI
Mumbai: India's capital markets regulator has ordered local mutual fund managers to stop accepting money in plans that invest in overseas exchange traded funds (ETFs) as a $1-billion cumulative sectoral limit for such investments is close to being breached. The...
Latest news on Russia and the war in Ukraine
Ukraine's Kharkiv hit by power outages after Russian missile strikesKharkiv faced several of power outages Friday after Russian missile strikes appeared to target Ukrainian energy infrastructure, according to Mayor Ihor Terekhov.In a series of posts on Telegram,...
P2P lenders to stop ‘liquid funds’ as RBI peers into business, ET BFSI
In a concerted attempt at self-regulation, a grouping of the country’s peer-to-peer (P2P) lending platforms has asked its members — including Liquiloans, Lendbox and Faircent — to stop offering instant withdrawal products to customers after March 31, people aware of...
Government to strengthen regional rural banks; Rs 6200 crore allotted for recapitalisation, ET BFSI
NEW DELHI: The Modi government has provided Rs 6212.03 crore to regional rural banks under the recapitalization scheme as of March 6.Regional Rural Banks (RRBs) are commercial banks owned by the Indian government that operate at the regional level in different states....
Yellen defends Biden budget against GOP senators’ fears of tax hikes
U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Committee hearing on the 2025 budget on Capitol Hill in Washington, U.S., March 21, 2024. Elizabeth Frantz | ReutersWASHINGTON — Treasury Secretary Janet Yellen on Thursday defended President Joe...
Judge orders Trump company to tell watchdog about appeal bonds
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, October 25, 2023.Jeenah Moon | ReutersA New York judge ordered Donald Trump's company Thursday to tell a...
SC stays govt’s fact-check unit; no CCI relief for Indian internet firms, ET BFSI
The apex court has put on hold the Centre's notification on setting up a fact-checking unit. Details on this and more in today’s ETtech Top 5.Also in this letter:■ Fishy crypto withdrawals under scanner■ Tata Sons confirms TCS share sale■ Neuralink brain chip patient...
Turkey’s central bank hikes rate to 50% as inflation rises, BFSI News, ET BFSI
Istanbul, Mar 21, 2024 -Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month.The move comes 10 days before local elections, with the country's cost-of-living...
House Speaker to invite Israel leader Netanyahu to address Congress
Speaker of the House Mike Johnson, R-La., conducts a news conference with members of the House Republican Conference in Cannon building on Wednesday, March 6, 2024, ahead of Thursday's State of the Union address.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse...
RBI issues omnibus framework for recognising SROs for regulated entities, ET BFSI
The Reserve Bank on Thursday issued an omnibus framework for recognising Self-Regulatory Organisations (SROs) for its regulated entities, under which SROs would be required to establish minimum benchmarks for their members. The RBI said SROs enhance the effectiveness...
Sebi asks mutual funds to stop fresh subscriptions in overseas ETFs from April, ET BFSI
As the $1 billion investment limit is about to get breached, markets regulator Sebi has told asset management companies (AMCs) to stop fresh subscriptions in overseas ETFs with effect from April 1, 2024, according to sources aware of the development.In a communique to...
Five Hour Energy billionaire named in Senate Swiss bank tax probe
Sen. Ron Wyden, D-Ore., wants to increase unemployment benefits by $600 a week.Andrew Harnik-Pool/Getty ImagesWASHINGTON — Billionaire Five Hour Energy entrepreneur Manoj Bhargava maintained allegedly undeclared bank accounts worth hundreds of millions of dollars at...
SBI complies with SC order, gives EC alphanumerical data on electoral bonds, ET BFSI
The State Bank of India on Thursday filed a compliance affidavit with the Supreme Court, confirming that it has furnished all details regarding electoral bonds to the Election Commission.CMD Dinesh Khara in the affidavit said that SBI has provided all details of...
RBI, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) is said to have turned down a request from HDFC Bank to permit classification of securities worth more than ₹1 lakh crore issued by the erstwhile HDFC Ltd as infrastructure bonds. This would have given regulatory leeway to the...
House passes bill to bar data brokers from selling personal information to U.S. adversaries
Representative Cathy McMorris Rodgers (R-WA), chair of the House Energy and Commerce Committee speaks during the hearing with TikTok CEO Shou Zi Chew before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill on March 23, 2023...
Banks should pass reasoned orders while declaring entity/person wilful defaulter, says Bombay HC, ET BFSI
The Bombay High Court has said banks and financial institutions should pass reasoned orders before declaring an entity or person a wilful defaulter under the Reserve Bank of India's Master Circular. A division bench of Justices B P Colabawalla and Somasekhar...
U.S. rejects China’s claim to Arunachal Pradesh, says it is a part of India
A tableau of Arunachal Pradesh state during the Republic Day parade along Kartavya Path in New Delhi, India, on Friday, Jan. 26, 2024. India's Republic Day marks the anniversary of when the country's secular constitution came into effect in 1950. Bloomberg | Bloomberg...
US Federal Reserve holds rates again over ‘elevated’ inflation, ET BFSI
The US Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the central bank’s 2% inflation target.The...
Sebi & RBI’s hyperactivity catches market by surprise; but it’s for restoring credibility, ET BFSI
The recent hyperactivity at both India’s banking regulator and the securities watchdog has caught the market by surprise. Commercial lenders have taken a rap for hiding their bad loans in private-credit funds. Investment banks are under the scanner for pushing initial...
Angela Chao was intoxicated during Tesla accident in Texas
Foremost Group CEO Angela Chao was intoxicated last month when she accidentally drove her Tesla X SUV in reverse over a wall into a pond on the Texas ranch she owned with her husband, billionaire venture capitalist Jim Breyer, according to a police report released...
Fed keeps June rate cut hopes alive. How exciting is that for stock investors?, ET BFSI
While keeping the interest rates unchanged, US Federal Reserve Chairman Jerome Powell signalled that rate cuts are likely in June barring unforeseen negative surprises on the strong side. Investors were relieved after FOMC participants signalled they still expect to...
China hits back at U.S. for ‘slandering’ Hong Kong’s new security law
The flags of China and Hong Kong displayed in rows. Bloomberg Creative | Bloomberg Creative Photos | Getty ImagesChina's embassy hit back against U.S. criticism of Hong Kong's new national security law on Thursday, saying the U.S. should "respect China's...
Bank of England is expected to signal interest rate cuts could happen soon after inflation falls, ET BFSI
LONDON - The Bank of England is widely expected to indicate Thursday that interest rates could be cut in the coming months following news that inflation across the U.K. is falling faster than expected.The central bank, which sets monetary policy for the U.K., is...
Japan Post firms say BOJ’s new policy will not alter portfolios, ET BFSI
TOKYO - Japan Post Bank and Japan Post Insurance, which are among Japan's largest financial firms, said their portfolios and hedging policies will not change drastically in response to the country's first rise in interest rates in more than a decade.Japan Post...
Latest news on Russia and the war in Ukraine
Russian defeat a matter of life and death for democracy, Zelenskyy saysRussia's defeat in the war is a matter of life and death for democracy, Ukrainian President Volodymyr Zelenskyy said in his nightly address."We have to be resilient against various challenges, we...
Don’t trust Trump’s ‘impossible’ appeal bond claims, attorney general tells judges
Former U.S. President Donald Trump speaks to the media as he arrives at a Manhattan courthouse trial in a civil fraud case brought by state Attorney General Letitia James against him, his adult sons, the Trump Organization and others in New York City, U.S., October 4,...
RBI governor, Sebi chairperson meet FM Sitharaman, BFSI News, ET BFSI
New Delhi, Reserve Bank Governor Shaktikanta Das on Wednesday called on Finance Minister Nirmala Sitharaman, ahead of the central bank's interest rate-setting panel meeting next month. The minister separately held a meeting with Sebi Chairperson Madhabi Puri Buch at...
Ukraine’s success ‘matter of U.S. credibility’: Polish foreign minister
Ukraine sympathizers carry placards and fly a Ukrainian flag outside the U.S. Capitol building as the Senate works through the weekend on a $95.3 billion foreign aid bill with assistance for Ukraine and Israel on February 11, 2024 in Washington, DC. Roberto Schmidt |...
RBI bulletin, BFSI News, ET BFSI
India can sustain 8 per cent annual GDP growth and the conducive macroeconomic configuration may become a launching pad for a step-up in the country's growth trajectory, said an article on the 'State of Economy' in the central bank's March Bulletin published on...
China-based Canadian stole Tesla secrets, U.S. prosecutors say
Newly produced electric vehicles are being seen at Tesla's Shanghai Gigafactory in Shanghai, China, on December 31, 2023.Costfoto | Nurphoto | Getty ImagesA Canadian resident of China has been arrested in the United States for allegedly stealing electric car...
Biden campaign recruits Nikki Haley donors to help defeat Donald Trump
U.S. President Joe Biden speaks during a campaign event at Pullman Yards in Atlanta, Georgia, U.S. March 9, 2024. Evelyn Hockstein | ReutersA few days after former South Carolina Gov. Nikki Haley dropped out of the Republican presidential primary on March 6, veteran...
Chubb ended Trump fraud bond talks after E. Jean Carroll bond
Donald Trump and his co-defendants were in talks with insurance giant Chubb for a $464 million appeal bond in the former president's civil fraud case, but the company backed out — days after it raised eyebrows for giving Trump a bond in a separate case, according to a...
RBI says won’t drop higher risk weights for loans to PSU NBFCs after banks seek easier norms, ET BFSI
New Delhi: The Reserve Bank of India (RBI) has rejected a demand from banks to scrap higher risk weights for loans to government-backed entities such as Power Finance Corp. (PFC), Indian Renewable Energy Development Agency (IREDA) and IIFCL. In a letter sent earlier...
Latest news on Russia and the war in Ukraine
Russia's Putin says he will consider China for his first trip in new termThis pool photograph distributed by Russian state owned agency Sputnik shows Russia's President Vladimir Putin (R) and China's President Xi Jinping heading to a group photo session during the...
Monetary policy must remain in risk-minimisation mode: RBI Bulletin, ET BFSI
Mumbai: A recent reduction in cooking gas prices is likely to exert a softening effect on inflation that's also being aided by declining non-food prices, but monetary policy must remain in "risk-minimisation" mode to firmly bring consumer prices back to the legally...
RBI, BFSI News, ET BFSI
MUMBAI: RBI is yet to achieve its target inflation rate of 4% despite bringing down core inflation driven by frequent food price hikes, the central bank’s State of the Economy report said.It said that inflation readings for Jan and Feb show that the easing of...
Trump-backed Bernie Moreno wins Ohio Republican Senate race: NBC News
US Senate candidate Bernie Moreno, Republican of Ohio, speaks before former US President and Republican presidential candidate Donald Trump takes the stage during a Buckeye Values PAC Rally in Vandalia, Ohio, on March 16, 2024. Kamil Krzaczynski | Afp | Getty...
Ohio GOP Senate primary offers an early test of Trump’s endorsement strength
Ohio voters are at the polls Tuesday to choose a Republican challenger to incumbent Democratic Sen. Sherrod Brown. The competitive Senate seat in a red state is considered a must-win for Republicans who hope to regain control of the chamber in November.The race will...
Euro zone bond yields hold steady as BOJ ends negative rates, ET BFSI
LONDON - Euro zone bond yields were little changed on Tuesday, with the focus of global markets on the Bank of Japan, which ended eight years of negative interest rates. Germany's 10-year bond yield, the benchmark for the euro zone, was last up less than 1 basis point...
China seen leaving benchmark lending rates unchanged in March, ET BFSI
SHANGHAI/SINGAPORE - China is widely expected to leave benchmark lending rates unchanged on Wednesday, a Reuters survey showed, as the central bank kept a key policy rate steady last week at a time when the broad economy is starting to show some signs of...
What is the SSY interest rate for April-June 2024 quarter?, ET BFSI
The Sukanya Samriddhi Yojana Account (SSA) is designed to provide a bright future for your girl child and to promote welfare of Girl Child. Interest rate on Sukanya Samridhi Yojana (SSY) is revised every quarter by the government.What is the SSA interest rate for...
Small-dollar fatigue, major donor nerves
Republican presidential candidate and former U.S. President Donald Trump attends a watch party event to mark the Super Tuesday primary elections at his Mar-a-Lago property, in Palm Beach, Florida, U.S. March 5, 2024. Marco Bello | ReutersDonald Trump's reelection...
Top U.S. congressional Republican and Democrat say a deal has been reached on spending
Senate Majority Leader Charles Schumer, D-N.Y., left, and Speaker of the House Mike Johnson, R-La., attend a Menorah lighting to celebrate the eight-day festival of Hanukkah, in the U.S. Capitol on Tuesday, December 12, 2023. Tom Williams | Cq-roll Call, Inc. | Getty...
Mandatory two-factor Aadhaar authentication to log into NPS CRA system from this date, ET BFSI
The Pension Fund Regulatory and Development Authority (PFRDA) has enhanced the security of the National Pension System (NPS) by introducing a new security layer, two-factor Aadhaar-based authentication, which will be mandatory for all password-based users logging into...
Abortion foes settle lawsuit against museum over pro-life hats
Patrons enter the Smithsonian's National Air and Space Museum for the public reopening of the museum’s west end galleries on the National Mall in Washington, U.S. October 14, 2022.Jonathan Ernst | ReutersThe National Air and Space Museum in Washington, D.C., agreed to...
Swiss central bank calls for more action on capital regulation, ET BFSI
ZURICH - The Swiss National Bank (SNB) on Tuesday said more action needed to be taken on capital regulation following Credit Suisse's collapse and takeover by UBS a year ago.In its annual report, the SNB said bank financing needed to be "considerably strengthened"...
China’s military, state media slam U.S. after report on SpaceX spy satellites
Chinese military and state-run media on Sunday accused the United States of threatening global security, days after a Reuters report which found Elon Musk's SpaceX was building hundreds of spy satellites for a U.S. intelligence agency.Orlando Sentinel | Tribune News...
Japan stocks choppy, yen near 150 after BOJ makes landmark policy shift as expected, ET BFSI
SINGAPORE -Japanese shares were volatile on Tuesday, while the yen fell to near 150 per dollar after the Bank of Japan in a widely expected move ended eight years of negative interest rates and ushered in the nation's first policy tightening since 2007.In a week...
Hong Kong lawmakers pass new national security law
People cross an intersection in the Central business district of Hong Kong on Feb. 27, 2024.Peter Parks | AFP | Getty ImagesHong Kong lawmakers passed a new national security law on Tuesday that grants the government more power to quash dissent, widely seen as the...
Why will chief Powell & team choose to stay put?, ET BFSI
The US Federal Reserve’s two-day monetary policy meeting is slated to begin later today, and the central bank is widely expected to stay put on interest rates after the recent data on inflation.Inflation data released last week showed that consumer prices in the US...
Swiss National Bank sold forex worth nearly $150 billion in 2023, ET BFSI
The figure was a massive increase from 22.3 billion francs in foreign currencies sold by the SNB in 2022, when the bank started selling off some of its huge foreign currency holdings. The SNB's strategy has paid off, with Swiss inflation within its 0-2% target range...
Biden to host Japan PM Kishida, Philippines President Marcos for White House summit
President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and...
CJI DY Chandrachud scolds lawyer during electoral bond hearing, ET BFSI
NEW DELHI: Chief Justice of India DY Chandrachud reprimanded senior advocate Mathews Nedumpara after a heated exchange during a hearing on electoral bonds on Monday."Don't shout at me," the CJI said, adding, "This is not a Hyde Park corner meeting, you are in the...
Biden targets ‘rent gouging’ landlords, as high housing costs 2024 race
Democratic presidential hopeful and former Vice President Joe Biden in Las Vegas, Nevada on February 22, 2020.RONDA CHURCHILLPresident Joe Biden will visit the battleground state of Nevada Tuesday to take aim at corporate landlords, who the White House claims are...
China accuses Evergrande of $78 billion fraud, among worst ever, ET BFSI
China Evergrande Group's alleged $78 billion revenue overstatement escalates the legal peril of founder Hui Ka Yan, who now stands at the center of one of the biggest financial fraud cases in history.The nation’s top securities regulator said the developer’s onshore...
The Bank of Japan’s experiment, BFSI News, ET BFSI
Tokyo, Mar 19, 2024 -The Bank of Japan on Tuesday announced a seismic change in direction on Tuesday, hiking interest rates for the first time in 17 years.The move represents an unwinding of an ultra-loose -- and maverick -- policy aimed at putting Japan's "lost...
Latest news on Russia and the war in Ukraine
Polish President calls for NATO to urgently ramp up spendingPolish President Andrzej Duda said Monday that NATO must urgently increase its defense spending to ensure it does not become the next target of a Russian attack.Speaking to CNBC, Duda cited unspecified German...
For sterling, the next Bank of England move is anyone’s guess, ET BFSI
LONDON - Money market pricing and short-term trading signals make the idea of the first Bank of England rate cut coming in late summer look like a clear bet. Economists and strategists are predicting a starkly different outcome for interest rates and the...
Poland says NATO must urgently ramp spending
Polish President Andrzej Duda speaks to members of the media following a meeting with U.S. President Joe Biden at the White House on March 12, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesPolish President Andrzej Duda said Monday that NATO must urgently...
The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years, ET BFSI
TOKYO - Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy...
Border funding battle snags Congress budget talks
WASHINGTON, DC - FEBRUARY 27: U.S. President Joe Biden and Vice President Kamala Harris meet with (L-R) Senate Minority Leader Mitch McConnell (R-KY), House Speaker Mike Johnson (R-LA), Senate Majority Leader Chuck Schumer (D-NY), House Minority Leader Hakeem Jeffries...
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. Fretting over the FedStocks are limping into Monday. The three major U.S. averages have all posted at least two straight losing weeks. Last week, higher-than-expected inflation...
Elon Musk says Trump ‘came by’ a breakfast, did not ask for money
(COMBO) This combination of pictures showing Elon Musk (L) and Donald Trump (R).Afp | Getty ImagesElon Musk said that his March 3 meeting with Donald Trump in Florida was not planned, and that the presumptive Republican presidential nominee did not ask Musk to...
Trump can't secure $454 million appeal bond in New York fraud case, his lawyers say
Trump can't secure $454 million appeal bond in New York fraud case, his lawyers say
Central bank meetings could influence global market trajectory, ET BFSI
New Delhi: Many events like the Fed meeting outcome on Wednesday, the spike in the US 10-year bond yield to 4.3 per cent and the possible SEBI directives based on the stress tests in mid- and small-cap schemes will influence the market in the near term, said V. K....
Shares action points, ET BFSI
The Reserve Bank of India (RBI) has reportedly asked some banks to brace for heightened threats of cyber attacks. According to a report in Money Control, quoting industry sources, these banks have been asked to beef up their security to mitigate such risks. The RBI...
SC directs SBI to make complete disclosure of electoral bonds details by March 21, ET BFSI
New Delhi: In a third tongue-lashing to the State Bank of India, the Supreme Court on Monday told it to stop being "selective" and make "complete disclosure" of all details related to the electoral bonds scheme by March 21. The apex court said the details to be...
Inflation frustration may prompt Fed to dial back rate-cut outlook, ET BFSI
U.S. central bankers are not expected to cut borrowing costs this week, but their new economic projections may be a wild card, potentially signaling fewer interest rate cuts and a later start to the policy easing than they previously had estimated.Keeping interest...
All eyes on US, Japan central banks, BFSI News, ET BFSI
Investors may glean more on the US Federal Reserve’s resolve to ease and how close Japan is to finally exiting negative interest rates as central banks set policy for almost half the global economy.This week features the world’s biggest collection of decisions for...
Latest news on Russia and the war in Ukraine
France says Russian election took place in a 'context of increasing repression'A general view of the Russia's Central Election Commission (CEC) Headquarters in Moscow, Russia on March 17, 2024. Putin won Russian presidential election with 87.97% of the vote, first...
Centre’s mobility card to go places as RBI eases rules, ET BFSI
The National Common Mobility Card (NCMC), offering seamless digital payments across multiple public transport systems in the country, has found limited adoption to date. But that may change now, thanks to regulatory latitude over use cases.The Reserve Bank of India...
In a ‘radical shift’, frontier markets go for policy changes, ET BFSI
Frontier markets have embarked on aggressive policy shifts, and investors in local-currency bonds are starting to reap the benefits.Central banks across key frontier economies including Kenya, Nigeria and Egypt have hiked policy rates significantly in recent months,...
Sebi deadline looms large over Rs 7 lakh crore mega rally in PSU bank stocks, ET BFSI
The Rs 6.76 lakh crore blockbuster rally in PSU bank stocks, which gave 7 multibaggers in last one year, is now staring at a turning point as the Sebi deadline to meet 25% minimum public shareholding (MPS) rule ends this August.Besides improvement in fundamentals such...
Sources, BFSI News, ET BFSI
Representative imageMUMBAI -India's central bank is stepping up its fight against "exuberance" in retail lending, targeting new areas including mortgage-linked "top-up" loans, on concern about rising risks to the financial system, a dozen sources said.The Reserve Bank...
North Korea fires ballistic missiles as Blinken visits Seoul
People are seen watching television at Seoul's Yongsan Railway Station showing North Korea's first test-firing of the new strategic cruise missile Pulhwasal-3-31. North Korea fired ballistic missiles into the sea on Monday for the first time in two months, as U.S....
Sebi’s exemption to ease compliance burden for FPIs, BFSI News, ET BFSI
The decision by India's capital markets watchdog to exempt foreign portfolio investors (FPI) from additional disclosure requirements will ease their compliance burden where majority assets held by them are based in the country. The Securities and Exchange Board of...
Putin seen winning an expected landslide 88% of Russian election vote
President Vladimir Putin won a record post-Soviet landslide in Russia's election on Sunday, cementing his grip on power. However, thousands of opponents staged a noon protest at polling stations and the United States said the vote was neither free nor fair.For Putin,...
Senate should move swiftly on TikTok bill
TikTok creators gather before a press conference to voice their opposition to the "Protecting Americans from Foreign Adversary Controlled Applications Act," pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S.,...
Biden campaign has amassed $155 million in cash on hand for 2024 campaign and raised $53 million just in the last month
US President Joe Biden during a bilateral meeting with UK Prime Minister Rishi Sunak in the Oval Office at the White House on June 8, 2023 in Washington, DC.Niall Carson | Getty ImagesPresident Joe Biden's campaign has amassed $155 million in cash on hand for the 2024...
