The University of Chicago on Friday said it has conferred its prestigious Alumni Award for Professional Achievement to India’s former chief economic adviser Krishnamurthy V Subramanian.Subramanian is the first Indian economist to receive the honour since its inception in 1941, placing him in an elite global cohort that includes Nobel laureates and intellectual giants such…
Wall Street moved higher on Friday and edged closer to fresh record highs as strong quarterly earnings from Apple, Estee Lauder and other companies lifted sentiment while a mild retreat in oil prices offered additional support.The S&P 500 rose 0.6 per cent, extending gains after closing at an all-time high on Thursday. The Dow Jones…
A proposed High-Level Committee on Banking for Viksit Bharat will examine balance sheet constraints faced by public sector banks and ways to better leverage their capital, Financial Services Secretary M Nagaraju said on Friday, PTI reported.The government is expected to announce the terms of reference for the panel soon.“This committee is expected to review the…
India’s mining and metals sector needs a fresh look at environmental compliance norms as rising exploration costs and depletion of high-grade mineral reserves create new pressures for the industry, experts said on Thursday, PTI reported.The sector, which is estimated to account for up to 7 per cent of global greenhouse gas emissions, currently requires environmental…
Weeks of conflict have worsened Iran’s economic pressures, deepening strain on its financial system even as the Islamic Republic continues to function under a standoff in the Gulf following a truce and ongoing maritime restrictions.The situation has left Iran in a stalemate with the United States and Israel, with ceasefire talks stalled while key Gulf…
NEW DELHI: An increase in petrol and diesel prices in the near future is not ruled out, government sources said on Friday, as losses mount from a four-year-old freeze in retail rates despite the sharp rise in global crude oil prices. International crude oil prices this week climbed to a four-year high of USD 126…
The government will continue with its planned capital expenditure of Rs 12.22 lakh crore in the current fiscal to sustain growth momentum despite rising fiscal stress linked to the ongoing Middle East conflict, a senior finance ministry official said on Friday, reported PTI.Expenditure Secretary V Vualnam said capital spending would remain a priority even as…
Today, India has a larger share of working people than it did a decade ago. On paper, that sounds like progress but in reality but wait till you look deeper.Jobs and unemployment are not just economic terms; they shape everyday life. They are the parameters that influence conversations at home, college choices, election rallies, office…
Union Minister Nitin Gadkari on Friday announced the rollout of India’s first Multi-Lane Free Flow (MLFF) barrier-less tolling system at the Chorayasi Toll Plaza on the Surat–Bharuch stretch of NH-48 in Gujarat.The new system allows vehicles to pass through toll plazas without stopping, using technologies such as Automatic Number Plate Recognition (ANPR) and FASTag for…
Petrol and diesel prices stayed steady across major Indian cities on Friday, even as global crude oil prices witnessed a sharp surge, indicating no immediate impact on domestic fuel rates.The Indian Oil Corporation (IOC) released a statement and said that there has been no revision in retail fuel prices, ensuring stability for consumers.The Centre on…