The European Central Bank has carried through with a large interest rate increase Thursday, brushing aside predictions it might dial back as U.S. bank collapses and troubles at Credit Suisse fed fears about the impact of higher rates on the global banking system. The ECB hiked rates by half a percentage point Thursday, underlining its determination to […]
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In an unexpected move, Tata Consultancy Services (TCS) Managing Director (MD) and Chief Executive Officer (CEO) Rajesh Gopinathan on Thursday decided to step down to pursue other interests. He has been with the company for over 22 years. The board of directors considered his request to be relieved of his positions, and accepted it. It has nominated K Krithivasan […]
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Retail inflation in February remained above the central bank’s upper tolerance limit of six per cent for the second straight month, despite declining marginally from the previous month’s level, prompting analysts to predict another rate hike by 25 basis points by the Monetary Policy Committee (MPC) in its April meeting. Data released by the National Statistical […]
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Twitter boss Elon Musk on Saturday said that he is open to the idea of buying the collapsed Silicon Valley Bank (SVB) and turning it into a digital bank. Min-Liang Tan, co-founder and CEO of Razer (a consumer electronic company), tweeted: “I think Twitter should buy SVB and become a digital bank”. To which Musk replied: “I’m open to the […]
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The Centre has appointed Siddhartha Mohanty as the interim chairman of Life Insurance Corporation of India (LIC) for a period of three months starting March 14, according to CNBC. Mohanty is presently a managing director and chief executive officer of LIC Housing Finance, as the MD of Life Insurance Corporation (LIC), effective February 1st, 2021. Siddhartha Mohanty was nominated to […]
Continue ReadingWith competition turning intense ahead of the year end, Bank of Baroda cut the interest rate on housing loans by 40 basis points (bps) on Sunday, to 8.5 per cent, linked to the borrower’s credit profile. The interest rate rebate is applicable on loans taken till the end of the financial year closing on March 31, 2023 […]
Continue ReadingFormer RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their USD 6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds — Elara India Opportunities Fund, Cresta […]
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A day after the October-December quarter gross domestic product (GDP) growth estimates came in lower than market expectations, Chief Economic Advisor V Anantha Nageswaran said that the figures came across as tepid only due to revisions made in earlier years, and had to be analysed in that context. Nageswaran said to reporters that there was […]
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Prime Minister Narendra Modi and German Chancellor Olaf Scholz held talks on Saturday. “The strong ties which India and Germany share are based on shared democratic values, and a deep understanding of each other’s interests. The two countries also share a long history of cultural and economic exchanges between them. Along with being our largest trading […]
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Turkey Earthquake: 28,000 lifeless, 6,000 collapsed buildings, a whole lot of aftershocks – Turkey has been reeling since Monday’s magnitude 7.Eight earthquake. However miraculous tales of survival preserve rising amid the devastation and despair. A two-month-old child was pulled out from underneath the rubble in Turkey’s Hatay yesterday, the group cheered and applauded. After the […]
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