BUSINESS
NSE fraud: CBI gets 7 days custody of Chitra Ramkrishna
A Special CBI Court on Monday sent Chitra Ramkrishna, the ex MD and CEO of the National Stock Exchange (NSE), arrested by the Central Bureau of Investigation (CBI), to seven days custody. Ramkrishna was placed under arrest by the federal probe agency on Sunday night. She was produced before the Delhi's Rouse Avenue Court. The CBI told the court that it wanted her custodial remand. The court after hearing their argument remanded her to seven days CBI custody.
Ashneer saga an aberration, not the norm: BharatPe Co-founder Nakrani
Amid the Ashneer Grover-BharatPe tussle, the fintech platform's co-founder Shashvat Nakrani has written a letter to employees, saying that the whole episode is an aberration and not the norm and the company will turn this crisis into an opportunity. Stressing that the company has to acknowledge and address the areas of improvement and the most critical is "culture" and that's "us".
Govt focus on expeditious framework for Black Money Act
Considering the objective of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BM Act), the assessment is to be completed at the earliest possible without keeping the same pending till the time barring date, the Central Board of Direct Taxes (CBDT) said in a set of guidelines issues earlier.
Indices settle low; Sensex falls nearly 1,500 pts
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- settled lower on Monday as international crude oil prices hit a 14-year high amid the Ukraine-Russia war. The Ukraine crisis pushed Brent crude oil price to $130 a barrel on Monday, which in turn has accelerated FIIs' selling in the Indian equity market.
Ukraine war to strain multiple sectors of Indian economy
Russias invasion of Ukraine, and the flurry of punitive sanctions imposed on Moscow by the US and Europe, can impact India Inc due to the resultant spike in commodity prices. If these prices are not passed on, can increase input costs and squeeze the margins of downstream sectors. Two, trade and banking sanctions can cull India's export-import activity in the affected region till workarounds are found, Crisil said.
Union budget aims to bridge gap created by education loss during pandemic:FM
The Union Budget 2022-23 has been presented with a vision for next 20-25 years for the country, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said here on Monday. Participating in a post-Budget interaction with the Trade and Industry here, the minister said that this year's Union budget stands for continuity and gives an impetus for investment on infrastructure.
Equity indices fall further; Sensex slips over 1,700 pts
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- fell further in the afternoon trade amid skyrocketing crude oil prices. The Ukraine crisis pushed Brent crude oil price to $130 a barrel on Monday, which in turn has accelerated FIIs' selling in the Indian equity market.
Indian economy to incur additional $70bn burden in FY23 on rising crude prices
Indian economy is expected to incur an additional $70 billion burden (or 1.9 per cent of the country's GDP) in FY23 as compared to the current fiscal at an average crude price of $120 per barrel, said brokerage house Kotak Securities. Steep crude prices will pose stiff challenges in the form of higher current account deficit, higher inflation, and lower growth, it said.
Pakistan stock market takes a hammering
The Pakistan Stock Exchange (PSX) took a hammering on Monday and the benchmark KSE-100 index dived nearly 1,500 points in intra-day trading at one point as the rising oil prices amid geopolitical tensions shattered investor confidence, Geo News reported. The KSE-100, a benchmark for market performance, underwent selling pressure from the word go, falling below the 44,000-point mark during intra-day with volumes remaining on the lower side.
Ukraine war 'catastrophic for global food'
The war in Ukraine will deliver a shock to the global supply and cost of food, the boss of one of the world's biggest fertiliser companies has said, BBC reported. Yara International, which operates in more than 60 countries, buys considerable amounts of essential raw materials from Russia. Fertiliser prices were already high due to soaring wholesale gas prices.
Don't Miss
Advertisement