The interim Union Budget is almost upon us and we are all on tenterhooks. Some of us have spent sleepless nights worrying about the big question: who will Piyush Goyal quote in his Budget speech?We have a time-honored tradition of finance ministers quoting famous persons during the Budget speech. In last year’s budget, for example, Arun Jaitley quoted Swami Vivekananda’s ‘Memoirs of European Travel’, ‘‘You merge yourselves in the void and disappear, and let new India arise in your place……’’ The exhortation to merge into the void and disappear was obviously directed to the Congress, but they seem to have refused to listen to his advice.Anyway, Jaitley’s quoting Vivekananda was a bit of a surprise, because in the 2017 budget he had stated, ‘it is said: “When my aim is right, when my goal is in sight, the winds favour me and I fly”’. And in 2016, he said, ‘it is said that “champions are … [Read more...] about Opinion | Loose Canon: Who will Piyush Goyal quote on Budget day?
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News that regulators might do some significant regulating quickly sent Facebook investors into a mild panic on Thursday afternoon. According to an anonymously sourced report by the Wall Street Journal, the Federal Trade Commission is “considering seeking a preliminary injunction against Facebook.” The move could get in the way of Facebook’s big plans to tie its messaging services together—if the story pans out. Following the report, investors drove Facebook’s stock price down by around 3.5%. Reached by Fast Company, the FTC declined to comment on the report, and Facebook has not yet responded to a request for comment. The FTC could decide to take action “as soon as next month,” according to the WSJ report. And if it does, the agency could prevent Facebook from further integrating the apps it has acquired over the years, most notably Instagram and WhatsApp. Word that Facebook could link Instagram, WhatsApp, and … [Read more...] about Facebook stock takes a beating on report that the FTC might thwart its grand unification plans
The Indian benchmark indices opend on a negative note on Wedneday morning with the Sensex falling 123 points while the Nifty was down 50 points and was trading below the 10,200 mark.The Nifty PSU banking index continued to head lower and was trading down 1.6 percent dragged by Punjab National Bank, State Bank of India, Allahabad Bank, Canara Bank and Andhra Bank.The Nifty PSU bank index cracked yesterday and closed 2.87 percent lower after investigation deepened in the PNB fraud case. The largest contributor to the index fall was Bank of India which plunged 6.46 percent, hitting fresh 52-week low. Syndicate Bank ended lower by 5 percent.Close Global research firm Credit Suisse has come out with a report on PSU banks. It is of the view that the bond hit will add to Q4 woes while over ownership will weigh on earnings. It feels that the PSU banks are staring at potential treasury loss of Rs 20,000 crore in Q4. related news Adani Transmission hits 52-week high on stake sale in a … [Read more...] about Credit Suisse expects PSU banks to report treasury loss of Rs 20K cr in Q4; overweight on SBI, BoB
Guwahati, the epicentre of anti-Citizenship (Amendment) Bill protests, was placed under indefinite curfew on December 11.The Army was called in at four places and Assam Rifles personnel were deployed in Tripura on December 11 as the two Northeast states plunged into chaos over the hugely emotive Bill, reports suggest.Army PRO Lt Col P Khongsai said that two Army columns have been deployed in Guwahati and were carrying out flag marches. The Army has also been deployed in Tinsukia, Dibrugarh and Jorhat districts, news agency PTI quoted officials as saying.Close Also read: Citizenship (Amendment) Bill 2019 passes muster in Rajya Sabha related news India's strength is secular democracy; protecting rights of minority communities: Congressman Bera India needs to demonstrate willingness to become part of global supply chain: US Fomer US Prez Dwight Eisenhower wanted to support India for its own right as a democracy: Richard Verma Protesters target Assam CM’s houseCurfew was … [Read more...] about Assam witnesses massive protests against Citizenship (Amendment) Bill; Army deployed, curfew imposed
Prince Mathews ThomasMoneycontrolUnion Budget 2018 should have been welcomed by farmers with rounds of milk or buttermilk, depending on the region. But that may not necessarily be so.Focusing on rural India, Finance Minister Arun Jaitley on Thursday announced a minimum support price 1.5 times the cost of production for the crops. Coming a year after the government promised doubling farm prices by 2022, the increased MSP was seen as a step towards meeting that target.Close But there are a few hiccups. related news Recap 2019 | 481 deals worth $43.5 billion - Here are the biggest M&As signed this year McLaren looks to India to expand exotic car sales ahead of 2025 IPO After year of living dangerously, Fed expected to signal time to lie low First, and this has been a long-held grievance, farmers aren't happy about the the method government uses to calculate cost of production. The government includes operational expenses (inputs costs and family labour) while … [Read more...] about Budget 2018: Here’s why a higher MSP doesn’t cheer many