Michael Kremer (Source: Noble Prize) The World Bank Group said that Nobel laureate Michael Kremer will serve as its new chief economist starting Oct 1, heading research for the institution, according to a statement Wednesday. Kremer, who holds a Ph.D from Harvard University, was awarded the 2019 Sveriges Riksbank Prize in Economic Sciences jointly with…
RBI’s FAQ clarifies why Tata Sons remains an NBFC despite being debt-free and having no direct public borrowings. MUMBAI: Even as Reserve Bank of India rejected Tata Sons’ application to surrender its registration as an NBFC in a terse letter on Friday, it updated its FAQ on NBFCs on Monday, setting out the regulatory provisions…
New Zealand parliament clears FTA with India NEW DELHI: New Zealand parliament has voted in favour of the trade agreement with India, setting the stage for its operationalisation. “People told me a FTA with India wasn’t possible. Well, today that deal passed its final vote in Parliament. It’s happening. National said we’d secure an FTA…
The bill when signed by Trump will give him the authority to levy duties of up to 100 per cent on major buyers of Russian energy The US House of Representatives on Wednesday passed a sweeping Russia sanctions bill that targets Russian officials, banks and the country’s energy trade, while giving President Donald Trump the…
Noel plans to argue that RBI’s Sept 11 letter requires Tata Sons to comply with rules governing upper-layer non-banking financial companies but does not explicitly direct it to list its shares MUMBAI: Tata Trusts chairman Noel Tata intends to tell the Tata Sons board on Thursday that the company should remain private and unlisted, pushing…
Trump argued that lower interest rates were justified by the US’s strong credit standing and booming investment (Fed Chair Warsh with Trump- file photo) US President Donald Trump called for sharply lower interest rates after the Federal Reserve raised its benchmark rate by 25 basis points to a 3.75 per cent-4 per cent target range,…
The move directs US officials to identify Canadian-origin products for removal from the federal civil procurement system and monitor Canada’s treatment of American goods. US President Donald Trump signed a Presidential Memorandum to take steps to remove Canadian-origin goods from the US federal civil procurement system, escalating trade tensions with Canada.Trump directed the Office of…
The export levy has been cut by Rs 1 per litre on petrol, Rs 5 on diesel and Rs 4 on ATF, bringing the rates down to Rs 0.5, Rs 20 and Rs 15 per litre, respectively. NEW DELHI: The government has cut export levies on petrol, diesel and aviation turbine fuel (ATF), with the…
US Federal Reserve chief Kevin Warsh US Federal Reserve Chair Kevin Warsh-led Federal Open Market Committee (FOMC) on Wednesday hiked the key interest rate to 3.75%-4% target range. This is the first interest rate hike since 2023.“The Committee decided to raise the target range for the federal funds rate by 1/4 percentage point to 3-3/4…
The tax department imposed a penalty of Rs 8.29 lakh, alleging misreporting of income. (Image for representative purpose only) You move abroad for your job but forget to file your Income Tax Return. When you remember, you file your ITR but the date for belated return has also passed and after filing self-assessment tax, you…
