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The Indian rupee hit a new record low of ₹86.63 against the US dollar, continuing its downward spiral, with experts predicting it could reach ₹88 within the next 9-12 months. Following the latest sanctions on Russia, India confirmed it will stop importing oil from sanctioned ships.
According to CNBC-TV18 sources, the government has approved a ₹10,000 crore fundraising plan via QIP for five state-run lenders, with the fundraising expected to start in Q4 of FY25. Meanwhile, Akasa Air pilots face challenges as over 300 are grounded due to a shortage of aircraft.
India has reiterated its demand for the early return of nationals following the tragic death of a man from Kerala in Russia, while Qatar has made significant progress in mediating a ceasefire between Israel and Hamas in Gaza.
The Los Angeles fires continue to make international headlines, with fears of new wildfires after at least 24 were confirmed dead and thousands displaced. Lastly, TikTok has denied reports suggesting Chinese officials are considering selling its US operations to Elon Musk.
Indian rupee remains under pressure, ends at fresh low of 86.63/$
The Indian Rupee continues to remain under pressure, hitting another record low. It closed at fresh low of 86.63/$. Latha Venkatesh with more details.
This economist sees the rupee hitting 88 to a dollar within the next 9-12 months
The Indian rupee has been in a free fall against the US dollar over the past few sessions, and Samiran Chakraborty, Chief Economist for India at Citi, believes it could weaken further to 88 within the next 9-12 months period.
The rupee stabilised slightly on January 14 after plunging to new lows on January 13. It is currently ranging between 86.49 and 86.59 as the dollar index hovers around 110.
According to Citi’s China economists, there is a possibility of a 6 to 7% depreciation in the Chinese yuan as retaliation to Trump’s policies. This could lead to further weakness in the rupee, in addition to the potential negative effects of the yuan’s weakness.
Won’t import Russian oil from sanctioned ships: Govt sources after USA sanctions
Crude prices stabilised today after jumping on the back of tougher US sanctions against Russian oil tankers and a stronger dollar in the last 2 sessions. Sapna Das bring more details about how the government is preparing itself to safeguard against the sanctions
PSU Bank Stake Sale: Government approves ₹10,000 crore QIP plan for five lenders — Exclusive
The government has approved a fund raising plan to the tune of ₹10,000 crore for five state-run lenders through the Qualified Institutional Placement (QIP) route, sources with knowledge of the matter told CNBC-TV18.
Other than Bank of Maharashtra, four other lenders, Punjab & Sind Bank, Indian Overseas Bank, UCO Bank and Central Bank of India have received approval to raise funds, sources said. These lenders may raise funds in small tranches starting the fourth quarter of financial year 2025, the sources said.
Exclusive: Parent cos of large insurers could submit IPO plans with IRDAI by Jan 31
Sources tell CNBC-TV18 that parent entities of large insurers are likely to submit public listing plans with IRDAI by Jan 31.
Aircraft shortage keeps over 300 Akasa Air pilots out of the cockpit; benched pilots unhappy
Akasa Air has 700 pilots, but over 300 of them are warming the bench, and losing out on flying hours and training as a result. That’s the complaint from many of the pilots on the airline’s rolls.
CNBC-TV18 has obtained a series of emails allegedly sent by a group of Akasa Air pilots to the Ministry of Civil Aviation and the Directorate General of Civil Aviation, raising concerns over unclear training processes and a lack of flying hours.
Over 300 pilots at Akasa Air aren’t getting to fly, and sources say they have been grounded for almost a year due to a shortage of aircraft.
India demands early return of nationals after Kerala man was killed in Russia
A man from Kerala, employed by the Russian Military Support Service, was reportedly killed, one of his relatives claimed. Binil TB, an electrician from Thrissur, has died, his relative Saneesh told reporters, PTI reported.
India has reiterated its demand to Russia for early return of Indian nationals working in the Russian Army. The Ministry of External Affairs raised the issue following the death of an Indian national in Kerala.
The news comes amidst efforts to repatriate Binil and his cousin-in-law, Jain TK, who were stranded in the Russia-Ukraine war zone.
Qatar says Israel, Hamas at ‘closest point’ to finalising ceasefire deal in Gaza
Qatar has made significant progress in its mediation efforts between Israel and Hamas, announcing that the two sides are at the closest point yet to finalising a ceasefire agreement in Gaza.
Qatari Foreign Ministry spokesperson Majed Al-Ansari, on Tuesday, January 14, confirmed that drafts of the proposed ceasefire deal had been handed over to both parties.
“This is the closest point to a deal we have seen in the past months,” Al-Ansari said at a weekly briefing, highlighting the positive and productive nature of the ongoing negotiations, while refraining from disclosing further details on the sensitive talks.
Winds spark fears of new wildfires in Los Angeles, 24 dead and thousands displaced
More powerful winds were expected to trigger new wildfires that could set back the recent progress made in containing blazes in the Los Angeles area that have destroyed thousands of homes and killed at least 24 people.
Much of Los Angeles area to remain under an extreme fire danger warning through Wednesday A large portion of southwest California spanning eight counties around Los Angeles is under a red flag warning for extreme fire danger through Wednesday.
Certain areas of LA and Ventura counties, including valleys, foothills and mountains throughout the Santa Monica and Santa Susana ranges, were in what the National Weather Service calls a “particularly dangerous situation”.
TikTok denies Chinese officials contemplating sale of its US operations to Elon Musk: Report
TikTok has clarified to Variety that Chinese officials are not contemplating selling the stake of its US operations to Elon Musk.
“We can’t be expected to comment on pure fiction,” a TikTok rep told Variety.
This clarification comes in the light of a Bloomberg report, citing sources that Chinese officials were evaluating a potential option that involved Elon Musk acquiring the US operations of TikTok if the company failed to fend off a controversial ban on the short-video app.
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