Around the Globe

Around the Globe

Bill to replace ordinance on Jallikattu to be placed in Assembly: Guv

Observing that a "mass movement" and "spontaneous outpouring of emotion" paved the way for lifting of the ban on Jallikattu, Tamil Nadu Governor Ch Vidyasagar Rao today said a bill to replace the ordinance would be "placed" by the state government in the Tamil Nadu Assembly "immediately."

US President’s domino on outsourcing

Donald Trump dropped hints in interviews, Twitter posts and other public comments that he intends to push his party away from its free-market, internationalist dogma on trade, foreign alliances, immigration, infrastructure spending and prescription drug access. Prior to his inauguration as US President, there was a serious discussion on whether he, in reality, would adhere to campaign agenda of big-government nationalism, all but obliterating the liberal-conservative distinctions that have defined America’s political parties for a century.

IT & pharma stocks hit by uncertainty as industry awaits clarity on new US policies

The Trump administration’s declared protectionism appears to have spooked domestic IT and pharma stocks with both IT and pharma stocks becoming the biggest drag on the benchmark indices like Sensex and Nifty-50.
IT biggies like Infosys, TCS and Wipro have taken a beating over worries about US visa restrictions, and BSE IT indices lost over 4.5 per cent in the past three months.
Among the frontline IT companies, Infosys plunged by 8.5 per cent, while TCS lost 4.6 per cent and Wipro fell by 3.6 per cent since October 20.

Trump rattles Indian IT industry

The inevitable has happened and the expected has been said. Donald Trump has stayed on course and reiterated his mantra for the new Americanism under his regime.
“We will bring back our jobs. We will get our people back to work rebuilding our country with American hands and American labour. We will follow two simple rules — buy American and hire American,” Trump said in his inaugural address, after taking over as the US president, to the people of his country and to the entire world, which watched his televised address live from their homes and offices.

FRBM panel’s prescription suits govt plan to up spending

The NK Singh-led fiscal responsibility and budget ma­n­agement (FRBM) panel might come to the rescue of the Narendra Modi governm­ent, which is looking to step up public spending to counter economic slowdo­wn, triggered by demonetisation, but is constrained by the exigency to honour fiscal commitments. Singh is a former revenue secretary.

Patel not yet out of the House panel cross hairs

Reserve Bank of India (RBI) governor Urjit Patel may have to appear before the public accounts committee (PAC) of Parliament on February 6 again as the panel wants to hear his replies on demonetisation issues at the earliest. Patel, who along with the board of governors and senior officials of the apex bank appeared before the parliamentary panel on January 20, was asked to submit his replies in writing within 15 days.

Uttarakhand: Cong rebels smoothen BJP ride

Mass induction of Congress rebels has caused political indigestion to the BJP, which is being labelled as “mini Congress” after more than a dozen defectors from the ruling party were fielded from the saffron plank. All those Congress leaders, who left chief minister Harish Rawat, have been accommodated by the BJP causing unrest within its own ranks.

UP alliance gives 298 seats to SP, 105 to Cong

After days of Akhilesh Yadav’s dilemma and intense bargaining over seat sharing, the Samajwadi Party-Congress alliance was finally inked on Sunday.
Of the 403 assembly berths, the Samajwadi Party will contest 298 seats leaving the rest 105 for its ally Congress. The RLD, which would be going alone, has already declared 35 seats in western UP.
On Saturday, the alliance was tottering and it nearly collapsed with the SP refusing to give Congress more than 99 seats and the later sticking to its demand for over 140 seats.

Air India’s US operations beat Gulf for revenues

A significant shift in business is taking place at Air India with US operations contributing big time compared to other foreign markets, including the Gulf and Far East, which for decades remained most lucrative for the state-run carrier.
Once written off by most experts, the carrier’s direct flights to the US now account for 28 per cent of its total international capacity, earning an estimated surplus of 22 per cent over variable cost.

Trump’s drug cost concern an opportunity for Indian firms

The ‘protectionist’ policies of the US under president Donald Trump are something the world markets are worried about. Trump’s comment ‘Buy American, Hire American’ in his inaugural address has made the IT sector jittery and may create a flutter in the stock market on Monday. But Indian pharma industry watchers are optimistic.