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India Ratings raises banking sector outlook to ‘stable’

India Ratings and Research on Monday revised its outlook on the overall banking sector to ‘stable’ for the FY22 from ‘negative’ even as it saw higher stress emerging in the retail loan segment, going ahead. For public sector banks (PSBs), the outlook has been revised to ‘stable’ from ‘negative’ and for private banks, the agency continues to have ‘stable’ outlook. It estimated that overall stressed assets (gross non-performing assets + restructured assets) could rise 30% for the banking system; the increase is almost 1.7 times in the retail segment in the second half of FY22. “The last nine months have provided banks the opportunity to beef up their provisions even more for legacy stressed assets, which were existing before the pandemic,” said the agency’s director (financial institutions), Jindal Haria. “We expect that by the end of FY21, the provisions will go up to almost 75-80% on those NPAs. This will give banks space to absorb COVID stress,” he said. The agency also ... » Learn More about India Ratings raises banking sector outlook to ‘stable’

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Market exchange rates in China — Feb. 26

Video Player Close BEIJING, Feb. 26 (Xinhua) -- The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced Friday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 647.13 Euro 100 786.86 Japanese yen 100 6.0831 Hong Kong dollar 100 83.449 British pound 100 906.29 Australian dollar 100 509.15 New Zealand dollar 100 476.74 Singapore dollar 100 487.45 Swiss franc 100 714.35 Canadian dollar 100 513.18 Malaysian ringgit 62.553 100 Ruble 1,155.06 100 Rand 231.97 100 Korean won 17,271 100 UAE dirham 56.802 100 Saudi riyal 58.001 100 Hungarian forint 4,589.89 100 Polish zloty 57.438 100 Danish krone 94.51 100 Swedish krona 128.21 100 Norwegian krone 131.40 100 Turkish lira 113.586 100 Mexican peso 322.96 100 Thai baht 467.57 100 The central parity rate of the yuan against the U.S. dollar is based on a weighted ... » Learn More about Market exchange rates in China — Feb. 26

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LPG cylinder prices February 25, 2021 announced: Third hike in this month, check out how much you need to pay for a cylinder

New Delhi: LPG cylinder (LPG) prices have yet again increased as Indian Oil Company has raised the price of 14.2 kg LPG cylinder from Rs 769 to Rs 794 per cylinder. This is the third time in February that LPG prices have increased. Earlier, the prices were increased on two occasions on February 4 and February 14. It may be recalled that in December, the price of LPG cylinder was increased twice. On December 1, its rate was increased from Rs 594 to Rs 644 and then on December 15, its price was again increased to Rs 694 per cylinder. Thus, the price of LPG has seen a Rs 100 cumulative hike within a month. But prices were not raised in January. In January, the price of non-subsidized LPG (14.2 KG) was Rs 694 per cylinder. Usually oil marketing companies hike prices of LPG on the first and 15th of every month. However, on February 1, there was no increase in prices, though the rate hike was announced on February 4 to Rs 719 per cylinder, a hike of Rs 25, thus taking the price ... » Learn More about LPG cylinder prices February 25, 2021 announced: Third hike in this month, check out how much you need to pay for a cylinder

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Times Business Awards Kolkata 2021: Recognizing brands & celebrating their excellence in the business world

Times Business Awards 2021 is an initiative done by The Times Group to recognise and honour the trailblazers from Kolkata and celebrate the essence of their excellence. It was a grand event when the business community gathered to celebrate entrepreneurial excellence. Other dignitaries from different walks of life joined in to cheer the entrepreneurs who shone during these trying times in their respective fields. The chief guest of the function, Anupam Kher, said: “ It’s lovely to be back in the City of Joy. ” ( L to R - Lamp lighting ceremony by Subrata Chakraborty, Bratya Basu, Koel Mallick, Nusrat Jahan, Praveen Srivastava, Jacques Bartz ) Times Business Awards 2021: Winner List Times Best manufacturer of Structural Tubes - Tata Structura Times Leading Cement Brand - Ambuja Cement Times Best management school - IIM, Kolkata Times Leading Surface Disinfectant Spray – Savlon Times Best Cardiac & Multi-Speciality Hospital - Rabindranath Tagore International ... » Learn More about Times Business Awards Kolkata 2021: Recognizing brands & celebrating their excellence in the business world

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Japan PM Yoshihide Suga appoints ‘Loneliness’ minister amid spike in suicide cases

Tokyo : Japan has appointed its first Minister for Loneliness this month after the country`s suicide rate increased for the first time in 11 years during the COVID-19 pandemic. According to The Japan Times, Prime Minister Yoshihide Suga added a minister of loneliness to his Cabinet earlier this month, following the example of the UK, which in 2018 became the first country to create a similar role. Suga tapped minister Tetsushi Sakamoto, who is simultaneously in charge of combating the nation`s falling birth rate and revitalizing regional economies, for the new portfolio. In his inaugural press conference, Sakamoto said Prime Minister Yoshihide Suga appointed him to address national matters "including the issue of the increasing women`s suicide rate under the pandemic," according to CNN. "Suga instructed me to examine the issue and put forward a comprehensive strategy, by coordinating with the related ministry... I hope to carry out activities to prevent social loneliness ... » Learn More about Japan PM Yoshihide Suga appoints ‘Loneliness’ minister amid spike in suicide cases

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Propose bilateral green deal to U.S., says energy expert Arunabha Ghosh

Arunabha Ghosh , founder-CEO, Council on Energy Environment and Water (CEEW), in an interview said that India needs to proactively negotiate a bilateral climate agreement with the United States and hill states like Uttarakhand must be given a concrete plan to help them transition away from relying on large hydropower plants for energy. Edited excerpts . The United States has re-entered the Paris Climate agreement. What does this mean for India? This is an opportunity for India to be proactive and propose a bilateral deal, where the U.S. and India can work more closely on climate change. It should be similar to the 2014 deal involving U.S. President Barack Obama and Chinese President Xi Jinping. The focus should be on what can be achieved in the near-term. There will be pressure on India to give a plan on when it will achieve Net Zero (when a country’s carbon dioxide emissions are balanced by the amount locked back in). However, we must have an agreement on say the use of ... » Learn More about Propose bilateral green deal to U.S., says energy expert Arunabha Ghosh

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Subsidised, non-subsidised LPG price hiked by Rs 25 per cylinder

New Delhi :Cooking gas LPG price on Thursday was hiked by Rs 25 per cylinder across all categories, including subsidised fuel and those availed by Ujjwala scheme beneficiaries. This is the third increase in rates this month on the back of spiralling international rates as demand recovered. A 14.2-kg cylinder in Delhi now costs Rs 794 as against Rs 769 at which they were supplied on Wednesday, according to a price notification from state-owned fuel retailers. The increase is applicable across all categories including subsidised and non-subsidised users. LPG is available only at one rate, market price, across the country. The government, however, gives a small subsidy to select customers. However, this subsidy has been eliminated in metros and major cities through successive price increases over the past couple of years. So, in places like Delhi, there is no subsidy paid to customers and all LPG users pay a market price of Rs 794. An oil company official said a ... » Learn More about Subsidised, non-subsidised LPG price hiked by Rs 25 per cylinder

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KOSPI Falls Below 3,000 Points for 1st Time in a Month

February 25, 2021 10:19 The overheated Korea Composite Stock Price Index showed signs of cooling on Wednesday, closing down 2.45 percent at 2,994.98 points and below 3,000 points for the first time since Jan. 29. A further decline was averted by Samsung Electronics' shares remaining steady at W82,000 (US$1=W1,109). Foreign investors sold more than W430 billion worth of stocks and institutional investors W130 billion. Retail investors still snapped up W560 billion worth but were unable to stem the crash. Jitters were stoked by rising U.S. interest rates and prompted foreign and institutional investors to cash in. Higher interest rates tarnish the luster of high-growth companies by cutting off their access to cheap loans. All sectors of the KOSPI declined. "The stock market powered ahead due to heavy buying by retail investors, but it looks like the market has found an excuse for a correction," an asset manager said. "Ceding the 3,000 level will have a psychological ... » Learn More about KOSPI Falls Below 3,000 Points for 1st Time in a Month

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Jaipur Literature Fest: Congress MP Shashi Tharoor all set to take the stage on February 26

For Jaipur Updates Allow Notification For Daily Alerts Keep youself updated with latest Jaipur News Cancel OK #Jaipur Jaipur Literature Fest: BJP leader explains how people got creative during coronavirus pandemic #Jaipur Jaipur Literature Fest: Pavan K Varma highlight types of elements used in Indian Literature #Jaipur Jaipur Literature Fest: Here is the complete guide to the virtual edition #Jaipur Jaipur Literature Fest: Harsh Mander's book speaks of migrant workers' sufferings during lockdown #Jaipur Jaipur Literature Fest: Annie Zaidi, Deepa Anappara share experiences of their novel-writing processes #Jaipur Jaipur Literature Fest: Noam Chomsky explains how the evolution of politics has changed Just In 45 min ago US Speaker calls for multi-generational effort to confront institutional racism 47 min ago President's Rule imposed in Puducherry 1 ... » Learn More about Jaipur Literature Fest: Congress MP Shashi Tharoor all set to take the stage on February 26

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Relocation helps alleviate poverty in Tibet

Living in an extremely harsh environment at high altitude is one of the primary causes of poverty in the Tibet autonomous region. To solve it, the region has relocated people to more favorable places over the years. For residents of Bupal village, it paid off. Bupal is located in steep, treacherous terrain in Tsawarong township in Tibet's Zayul county. Bordering Yunan province, the township is remote and lacks farmland — typical of such poor villages before 2015. Relocating residents changed everything for the better. The people of Bupal had lived on steep mountain slopes. Their shared problems included difficult transportation, unsafe drinking water and poor housing. With an investment more than 70 million yuan ($11 million), more than 400 families and single residents of Bupal and five other communities of Tsawarong were relocated to Rongmad in Zayul county in 2015, wherre the average altitude is 1,600 meters, far lower than Tibet's average of 4,000 meters. There's a ... » Learn More about Relocation helps alleviate poverty in Tibet

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