Prime Minister Narendra Modi leaves for 3-day visit to United Kingdom
- Prime Minister Narendra Modion Thursday left for his 3-day visit to Britain. Modi’s visit to Britain is the first bilateral visit by an Indian prime minister in nine years after Manmohan Singh’s visit in 2006.
- Singh visited Britain in 2009 to attend the G-20 summit.
- During the visit, he is expected to have a hectic schedule that will start with talks with his British counterpart David Cameron who has described the trip as “extraordinary”.
- “I am excited by this visit. I am excited by what Prime Minister Modi is doing in India and I’m excited about the partnership that we can build together,” Cameron said.
- Describing Modi’s visit as “extraordinary”, Cameron said it was not simply about celebrating the economic ties but “actually building a thoroughly modern partnership between our two great countries”.
- This will be Prime Minister Modi’s 3rd meeting with his counterpart David Cameron.
Muhurat trading session: Sensex ends 123 pts up; Nifty above 7,800; Banking stocks up 8.45%
- The benchmarkBSE Sensex rebounded 123.69 points to close at 25,866.95 in the first session of Samvat 2072 while Nifty ended 41.65 points higher at 7,825.00.
- Relinquishing Tuesday’s losing streak, Sensex and Nifty opened in green in Muhurat traded, conducted on the auspicious occasion of Diwali.
- Market mood changed for the better amid renewed optimism after the government pushed ahead with major reforms, relaxing FDI rules in 15 sectors such as civil aviation, banking, defense, retail and news broadcasting and eased process for approval of foreign investment.
Gold, silver shine in Diwali trade on jewellers buying
- Extending its gains for the third straight day, gold prices advanced by Rs 15 to Rs 26,250 per ten grams in special ‘Diwali Muhurat’ trading at the bullion market today on increased buying by jewellers, driven by the ongoing festive season.
- Token buying activity on the auspicious occasion of Diwali and to mark the beginning of Hindu Samvat Year 2072 also supported the upside, traders said.
- Silver also edged up by Rs 25 to Rs 34,900 per kg on increased offtake by industrial units and coin makers.
- Gold of 99.9 and 99.5 per cent purity rose further by Rs 15 each to Rs 26,250 and Rs 26,100 per ten grams respectively.
- It had gained Rs 125 in the previous two sessions.
Indian-American Appointed Head of Minneapolis Federal Bank
- Prominent Indian-American business executive Neel Kashkari was today appointed as the head of the US Federal Reserve’s regional bank in Minneapolis.
- Mr Kashkari, who was once a Republican gubernatorial candidate in California, would replace another Indian-American Narayana Kocherlakota whose tenure as CEO and president ends on
- “Kashkari is the right person to build on the Minneapolis Fed’s core strengths and successfully lead the Bank into the future,” said Randall Hogan, chairman of the Minneapolis Fed’s board of directors and co-chair of the search committee.
- As president of the Minneapolis Fed, the 42-year-old will participate on the Federal Open Market Committee in the formulation of US monetary policy.