debt

African countries feel they have been trapped in Beijing's debt circle after China showed reluctance in lending financial support to them, Federico Giuliani writes in Inside Over.

The world's low-income countries owe 37 per cent of their debt to China in 2022, compared to just 24 per cent in bilateral debts to the rest of the world

Pak, Pakistan, flag

Pakistan is blindly following Sri Lanka's path which will lead the country to fall into the Chinese debt trap

China exacerbated but didn't mostly cause the problem whose roots lay in borrowing countries' broken politics and economic mismanagement. The loans may only have solved some problems, writes T N Ninan

Evergrande Group

Late repayments could trigger cross-defaults as the firm's liabilities involved as many as 128 banks and over 121 non-banking institutions

China

Chinese authorities have started to evaluate systemically important banks this year by measuring assets of the nation's 30 largest lenders.

New RBI norms to make FY17 costlier for large firms

While their spending and borrowing is good for lenders, brands and economic growth, it is also a risk as they add to China's fast-growing debt

The current data from student visa processing agencies suggest that around 3.4 lakh Punjabi students are currently studying in various educational institutions across Canada

student, studying, education, college, kota

The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities.
Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
Equity markets were closed on Tuesday on account of Ganesh Chaturthi.
From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.
The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week.
The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week.
ICICI Bank's valuation dropped Rs 29,41

HDFC Bank

LIC gears up to appeal against a hefty GST demand exceeding Rs 290 cr, encompassing penalties and interest

LIC, Life Insurance Corporation

When Chief Executive Officer Charlie Scharf took the reins at Wells Fargo in 2019, he quickly tagged the firm's wealth offerings as an area he'd seek to develop

Wells Fargo

The US provided Canada with intelligence after the killing of Sikh separatist Hardeep Singh Nijjar, but communications intercepted by Ottawa were more definitive and led it to accuse India of orchestrating the plot, The New York Times has reported citing sources.
The report came on Saturday as the top US diplomat in Canada confirmed that there was shared intelligence among Five Eyes partners that had prompted Canadian Prime Minister Justin Trudeau's offensive allegation against India in the killing of a Khalistani extremist on Canadian soil.
The allegations have infuriated India, which rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case. India also accused Canada of being a safe haven for terrorists.
Nijjar, the chief of the banned Khalistan Tiger Force (KTF), was killed in Surrey in British Columbia on June 18. India had designated Nijjar as a terrorist in ...

Hardeep Singh Nijjar, Hardeep Nijjar

Amazon Web Services (AWS) India on Thursday announced that edtech social enterprise ConveGenius has built a conversational artificial intelligence (AI) chatbot on its platform for government schools and low-free private schools.
The conversational AI chatbot platform -- SwiftChat -- aims to improve learning outcomes for school students using more than 53 conversational AI chatbots that deliver personalised learning content in 13 regional languages to over 100 million students across India.
ConveGenius has built SwiftChat Conversational AI Platform on AWS, a release said.
"Using the SwiftChat platform, which holds 124 million student profiles across 19 million devices, government schools can create omnichannel chatbots to deliver personalised learning, like curated videos and read-along content, through a single AI-enabled chatbot conversation," it said.
Besides the personalised learning, SwiftChat offers teacher training and data-driven decision-making for school administrators, ..

Artificial intelligence, jobs, AI, ChatGPT, technology

The Indian domestic aviation sector has witnessed an impressive surge in passenger traffic during the first eight months of 2023.

While traffic is steadily rising, it is still less than the peak in March when 7.8 million people flew and also down 50 per cent from pre-pandemic levels.

Aviation sector, airplanes, Flights

India decided not to play Sundar ahead of Ashwin in the 1st ODI vs Australia. Shreyas, Ruturaj and Suryakumar made comeback

India vs Australia

Congress leader Sachin Pilot criticises the central government for playing 'hide and seek' with Women's Reservation Bill, says there was already consensus

Sachin Pilot

Aparna will report to CEO Thierry Delaporte and will join the Wipro Executive Board

Wipro

India's top tennis player Sumit Nagal moved to the men's singles pre-quarterfinals of the Asian Games without losing a game as he expectedly thrashed Macau's hapless Ho Tin Marco Leung, here on Sunday.
It was expected to be an easy second-round match for the 159th ranked Nagal, whose rival does not even have a ranking on the ATP computer.
The fifth seed Nagal, who had got a first round bye, needed just 45 minutes to dispatch his opponent 6-0 6-0.
He will next take on Kazakhstan's Beibit Zhukayev, who advanced after his Tajikistani rival Firuz Mukhidinov retired from the contest.
Zhukayev was leading 3-0 in the match when Mukhidinov decided to concede the contest.
The second seeded Indian pair of Saketh Myneni and Ramkumar Ramanathan outplayed Nepal's Abhishek Bastola and Pradip Khadka 6-2 6-3 in another easy match in their men's doubles opening round that lasted just 57 mins.

Sumit Nagal

Babu Lal, who started rowing just two years ago, relived the range of emotions that he went through while standing on the podium to receive his medal

Geeta Mahanand, the sarpanch of Risama panchayat in Chhattisgarh's Durg, said she would have never come forward to contest the rural polls had there been no reservation for women in the Panchayati raj system.
A housewife who was thrust into politics after the seat was reserved for women, Mahanand said reservation not just empowered her to make decisions but also boosted her confidence to do more for the society.
In the three decades since reservation of seats for women in panchayati raj institutions was introduced, the country saw women dismantling gender barriers to take the lead in the political field at the grassroots level and excel in it.
In 1992, the P V Narasimha Rao government passed the 73rd and 74th Constitutional Amendment Acts mandating the reservation of one-third of seats for women in Panchayati Raj institutions. Over three decades later, the 128th Constitution amendment bill, referred to as the Nari Shakti Vandan Adhiniyam, is seen as yet another significant stride ..

Rajya Sabha, Parliament

Long-pending claims worth Rs 400 crore by a significant number of junior commissioned officers (JCOs) and other ranks of the Army have been settled following a joint initiative by the force and the defence accounts department, official sources said on Sunday.
Majority of the claims pertained to house rent allowances, pay fixation cases and education allowances to children of the Army personnel, they said.
The Army headquarters and the Controller General of Defence Accounts (CGDA), the office that heads the defence accounts department, carried out the pan-India outreach to clear the cases of claims, the sources said.
To clear the pending cases, a "war room" was established in the CGDA and cases were being monitored closely, the sources said, adding the exercise has benefitted a large number of JCOs and other ranks.
The outreach commenced at the beginning of this month, spearheaded by joint CGDA (grievances), under which camps were organised in all 48 'pay and account offices' across

army, indian army

A film festival celebrating the birth centenary of screen icon Dev Anand, opened on Saturday evening with packed shows of the actor's popular films "Johny Mera Naam" and "Guide" at PVR Juhu here.
The two-day event named 'Dev Anand @ 100 - Forever Young', curated by Film Heritage Foundation (FHF), is showcasing four of the actor's movies. The other two films "CID" and "Jewel Thief" will be screened on Sunday.
Waheeda Rehman, Dev Anand's co-star of films such as "CID" and "Guide", actor Jackie Shroff, filmmaker Sriram Raghavan, and FHF director Shivendra Singh Dungarpur introduced the two titles marking the opening of the festival.
Rehman recounted being introduced to Dev Anand on the sets of "CID", the 1956 film which marked her Hindi cinema debut.
"I feel very lucky that I did my first film 'CID' with Dev sahab. When we were introduced, I called him 'Dev sahab', he said 'Waheeda, you won't call me Dev sahab'. I said 'I'm not that ill-mannered, you are elder to me and such a big sta

Chinese debt

African nations trapped in debt circle as China applies brakes in lending

Sri Lanka, Pakistan, Maldives stand neck-deep in Chinese debt: Forbes

Pakistan following Sri Lanka's path to land in Chinese debt trap: Report

Debt-trap diplomacy: Should China be blamed for Pakistan, Sri Lanka crises?

Explainer: How China Evergrande's debt troubles pose a systemic risk?

China's financial regulators draft tougher rules for too-big-to-fail banks

Chinese millennials are stacking up a mountain of debt as attitude towards credit changes