Saudi Crown Prince Announces $600 Billion Investment in the U.S. Crown Prince Mohammed bin Salman of Saudi Arabia has announced a staggering $600 billion investment plan in the United States over the next four years. This revelation was made during a phone call with President Donald Trump, as reported by the state-run Saudi Press Agency (SPA) early Thursday. The announcement signals a major step

Waaree Energies Solar Module Supply Contract Waaree Energies Ltd. announced receiving a letter of award for supplying solar PV modules with a total capacity of 180 megawatt peak. The modules will be provided to a renowned customer in the renewable energy sector, specifically for the development and operation of renewable power projects in India. The supply is expected to start in the financial year 2025–26. Acquisition of Enel Green Power India

Chandrababu Naidu, the Chief Minister of Andhra Pradesh, is gearing up for his highly anticipated trip to Switzerland to participate in the prestigious World Economic Forum (WEF) Summit in Davos. This business-focused event is seen as an excellent opportunity to attract significant investments to the state. In a strategic move ahead of his trip, Naidu has successfully poached a key investment body executive from the neighbori

For many young people, managing bills and budgets can leave very little room for savings, but even small investments in tax-free schemes can significantly contribute to building a secure financial future. These investments act as a foundation for a solid tax strategy, offering benefits under the old tax regime with annual investment limits. Section 80C Under Section 80C of the Income Tax Act, you can invest in options like the Public Provident

Thai Prime Minister Declares £324m in Assets, Including 217 Designer Handbags   Thailand's Prime Minister, Paetongtarn Shinawatra, has declared a staggering £324 million in assets, including a collection of 217 designer handbags and 75 luxury watches. The declaration was made to the National Anti-Corruption Commission (NACC), a requirement for public officials i

Will Budget 2025 Simplify Tax Compliance for Property Transactions with NRIs? As property transactions involving Non-Resident Indians (NRIs) continue to rise, homebuyers face significant challenges with tax compliance. Purchasing real estate from an NRI seller requires buyers to navigate complex rules, from tax withholding to administrative filings. Could Budget 2025 address these issues and make the p

The Reserve Bank of India (RBI) has made a significant change to the Unified Payments Interface (UPI) system by enabling UPI payments between verified digital wallets, also known as Prepaid Payment Instruments (PPIs), and third-party UPI applications. This new directive will allow users of digital wallets to make and receive UPI payments via any third-party UPI app, rather than being limited to the wallet’s own mobile application. The move is aimed at enhancing interoperability within t

India’s economy has consistently been a focal point for Non-Resident Indians (NRIs) seeking long-term investment opportunities. With its rapid economic growth, demographic dividend, and government reforms, India offers several promising sectors for NRIs to invest in. Himanshu Kohli, an expert in wealth management, highlights the top four sectors that provide significant potential for long-term returns. 1. Real Estate The Indian real estate m

The Indian rupee opened at 84.83 against the US dollar on Monday, a depreciation of 4 paise compared to the previous close of 84.79. The decline in the rupee is largely attributed to the uncertainty following the announcement of a leadership transition at the Reserve Bank of India (RBI). Shaktikanta Das will be succeeded by Sanjay Malhotra, sparking initial concerns in the market. However, markets quickly adjusted to the news, with experts noting that the RBI is closely monitoring banking sys

On Thursday, the Reserve Bank of India (RBI) received a bomb threat via email, which was written in Russian. The threat, sent to the RBI's official website, claimed that the bank would be blown up. Following the threat, a case was registered at the Mata Rambai Marg (MRA Marg) police station in Mumbai, and an investigation has been launched. This incident comes after a similar threat was made to the RBI through its customer care number on November 16, with the caller claiming to

India has achieved a major milestone by surpassing $1 trillion in Foreign Direct Investment (FDI) since the turn of the century. Latest data from the Department for Promotion of Industry and Internal Trade (DPIIT) reveals that from April 2000 to September 2024, India attracted a total of $1,033.40 billion in FDI. This surge underscores India’s growing appeal as a global investment hub. Significant contributions have come from countries like Mauritius (25%), Singapore (24%), an

India's inflation rate, based on the Consumer Price Index (CPI), moderated to 5.48% in November, down from 6.21% in October, according to the Ministry of Statistics and Programme Implementation. This easing, however, is still above the Reserve Bank of India's (RBI) target of 4%, with food prices continuing to drive inflationary pressure. The food inflation rate surged by 9.04%, continuing its trend of high costs. Economists had forecast a median inflation estimate of 5.5% fo

Sanjay Malhotra, a 1990-batch IAS officer from Rajasthan, has been appointed as the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das. The government announced that Malhotra will take charge from Wednesday for a term of three years. With a background in computer science from IIT Kanpur and a Master's in Public Policy from Princeton University, Malhotra has had a distinguished career spanning over three decades in various sectors, including finance, taxation, pow

In a major boost to Rajasthan's economic prospects, the Adani Group has pledged to invest Rs 7.5 lakh crore in the state over the next five years. This massive investment will fund key infrastructure projects, including the creation of four new cement plants and the establishment of a world-leading green energy ecosystem. Karan Adani, CEO of Adani Ports, shared these details at the 'Rising Rajasthan' Investor Summit 2024, where he highlighted the ambitious plans to build the world

India's foreign exchange reserves saw an increase to $658.1 billion for the week ending November 29, according to the Reserve Bank of India (RBI). This rise followed an eight-week decline, with a $1.5 billion increase from the previous week. In comparison, the reserves had dropped by $1.31 billion in the prior week, reaching $656.58 billion. Foreign investors have invested Rs 1.75 lakh crore into India's debt and equity markets in 2024. However, the month of November witness

In November, the median perception of current inflation among households increased to 8.4%, up by 30 basis points from the previous survey round in September, according to the Reserve Bank of India (RBI) Households’ Inflation Expectations Survey. Meanwhile, expectations for inflation over the next three months moderated slightly by 10 basis points, reaching 9.1%. However, households' expectations for inflation a year ahead inched up by 10 basis points to 10.1%. The survey

The Indian rupee ended the trading session stronger after the Reserve Bank of India (RBI) decided to keep the benchmark interest rates unchanged, while unveiling measures aimed at improving liquidity in the banking system. The domestic currency gained 3 paise, closing at 84.70 against the US dollar, compared to 84.73 in the previous session. As part of the monetary policy changes, the RBI raised the interest rate ceiling on one-year Foreign Currency Non-Resident (FCNR) deposits by 200 basis p

On Friday, the Reserve Bank of India (RBI) announced it would keep the repo rate unchanged at 6.5% for the 11th consecutive time. This decision comes despite the GDP growth rate for the July-September quarter falling to a 7-quarter low of 5.4%, which was below the RBI's earlier projection of 7%. The RBI paused its rate hike cycle in April last year after raising rates by 250 basis points since May 2022. In the fifth bi-monthly monetary policy review for the current fiscal year,

In October 2024, the Reserve Bank of India (RBI) made a significant move by adding 27 tonnes of gold to its reserves, bringing its total gold purchases for the year to 78 tonnes. This marks the highest level of purchases since 2009, when India acquired 200 tonnes from the International Monetary Fund (IMF). The RBI's total gold reserves now stand at 882 tonnes. In comparison, India had bought only 16 tonnes of gold in 2023. The RBI's gold purchase comes amid global economic i

The National Pension Scheme (NPS) Vatsalya, launched on September 18, 2023, has seen a positive response from Indian parents looking to invest in their children's future. As of November 17, 2023, the scheme has attracted 66,495 subscribers, with Maharashtra leading the pack with 9,219 accounts. Andhra Pradesh and Karnataka follow closely with over 6,500 subscribers each. In total, 18 states have seen over 1,000 accounts opened, demonstrating the scheme’s growing appeal. Th