Govt imposes curbs on public procurement from certain countries bordering India

The Ministry of Finance today amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters that directly or indirectly relate to the national security of the country, said and official release.

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Govt imposes curbs on public procurement from certain countries bordering India via @MasterMindUpdate

Sensex, Nifty continue to scale back to pre-covid levels; here’s what drove stock markets this week

Domestic benchmark indices despite ending this week’s last trading session in the red gained half a percent during the course of the week with volatility coming back to haunt investors. With this, Sensex and the 50-stock Nifty are now up over 41% from their March lows. In the coming week, markets are expected to react to June quarter results of listed companies, global stock markets and not to forget the AGM of Reliance Industries. Analysts are still betting on stock-specific actions to steer the market with domestic factors not posing any grave threat in the coming weeks.

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Sensex, Nifty continue to scale back to pre-covid levels; here’s what drove stock markets this week via @MasterMindUpdate

It’s hard to be the next China, not impossible

In the 1960s, Japan and Europe exported their way to post-World War II prosperity under the fixed exchange rates of the Bretton Woods agreement. The U.S. went off the gold standard in 1971, but the established way of doing things didn’t collapse. Thirty years later, China essayed the role of being the world economy’s periphery and selling cheap widgets to a revamped core — the West and Japan — with the help of an undervalued exchange rate.

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It’s hard to be the next China, not impossible via @MasterMindUpdate