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2024-09-25 15:00:05

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#note1z7e…yt5a

2024-09-25 14:59:52

India's economy strong, high debt levels, fiscal challenges bother global recovery: WEF report
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Chief economists express concerns about rising debt levels and fiscal challenges impacting global economies; over 70% predict strong growth in South Asia for 2024 and 2025, driven by India's performance; 39% of economists in developing economies foresee a rise in defaults next year; Saadia Zahidi, WEF Managing Director, emphasizes need for coordinated policy efforts; 90% of economists expect moderate or robust growth in the US; 80% believe US election outcomes will significantly affect global economic policy; nearly 75% anticipate sluggish growth in Europe; 40% predict weak growth in China for 2024 and 2025; two-thirds of respondents stress the importance of balancing economic growth with sustainability and equality.
#India #Economy #Debt #Growth #Wef #GlobalRecovery #FiscalChallenges #SouthAsia #UsElection #China
https://www.businesstoday.in/latest/economy/story/indias-economy-strong-high-debt-levels-fiscal-challenges-bother-global-recovery-wef-report-447528-2024-09-25

2024-09-20 14:55:26

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#note1zdf…chlh

2024-09-20 14:55:14

What is the impact on the Indian economy post Fed rate cuts?
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The US Federal Reserve cut its interest rate by 50bps to 4.75-5% for the first time in four years on September 20, 2024; the Fed is expected to systematically cut rates by about 250bps until 2026; the Indian Rupee appreciated to Rs 83.69 against the US Dollar; Dharmakirti Joshi from CRISIL stated that RBI's monetary policy will depend on domestic inflation and CPI rates; Madan Sabnavis from Bank of Baroda noted that the rate cuts were anticipated and had minor effects on currency and bond yields; long-term growth in the Indian economy is expected with rising per capita income as GDP increases.
#UsFed #IndianEconomy #InterestRates #Cpi #Rbi #Currency #Gdp #PerCapitaIncome #Inflation #EconomicGrowth
https://www.businesstoday.in/latest/economy/story/what-is-the-impact-on-the-indian-economy-post-fed-rate-cuts-446840-2024-09-20

2024-09-12 10:50:54

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#note139x…sjpu

2024-09-12 10:50:43

EB-2 visa cap reached for 2024, additional visas to be issued in new US FY starting Oct 1
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The EB-2 visa cap for fiscal year 2024 has been reached as confirmed by the US State Department and USCIS; no additional EB-2 visas will be issued until the new fiscal year begins on October 1, 2024; the EB-2 visa category targets skilled workers with advanced degrees or exceptional abilities; it is divided into three subcategories: EB-2A for advanced degree professionals, EB-2B for exceptional ability, and EB-2C for National Interest Waiver; USCIS set a limit of approximately 47,000 EB-2 visas for FY 2024, which is 28.6% of the total employment-based visas; Indian applicants face significant delays with a cut-off date of July 15, 2012; Sam Silverman from EB5AN noted that demand for EB-2 visas exceeds the available quota by over four times, with more than 180,000 applications for just 40,000 visas.
#Eb2Visa #UsImmigration #VisaCap #EmploymentbasedVisa #IndianApplicants #Uscis #StateDepartment #NationalInterestWaiver #AdvancedDegrees #ExceptionalAbility
https://www.businesstoday.in/nri/visa/story/eb-2-visa-cap-reached-for-2024-additional-visas-to-be-issued-in-new-fy-starting-oct-1-445627-2024-09-12

2024-09-09 04:52:08

Sensex down for 5th day, Nifty below 24,800; key reasons behind stock market fall
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BSE Sensex fell 169.57 points (0.21%) to 81,014.36; NSE Nifty down 54 points (0.22%) to 24,798.15; fifth consecutive day of decline for Sensex and fourth for Nifty; weaker-than-expected US jobs data reignites recession fears; analysts express concerns over potential insufficient rate cuts by the Fed; Prashanth Tapse from Mehta Equities notes shift from optimism to concerns about US economic slowdown; V K Vijayakumar from Geojit Financial Services highlights market volatility; SpiceJet shares rose 5% amid stake sale news; Jio Financial Services formed a JV with BlackRock for investment advisory; Mazagon Dock won a Rs 1,486.40 crore contract from ONGC.
#Sensex #Nifty #StockMarket #Recession #UsJobsData #Spicejet #JioFinancialServices #MazagonDock #EconomicSlowdown #Investment
https://www.businesstoday.in/markets/stocks/story/sensex-down-for-5th-day-nifty-below-24800-key-reasons-behind-stock-market-fall-445003-2024-09-09

2024-09-07 05:52:54

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#note1j6w…6qdv

2024-09-07 05:52:43

Gold prices are likely to experience volatility in September
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Gold prices have risen over 20% in 2024; Comex Gold (December) reached an all-time high of $2570 per ounce; Gold futures climbed to record highs for three consecutive sessions; Strong safe-haven demand amid geopolitical uncertainties; Federal Reserve Chair Jerome Powell hinted at imminent rate cuts; U.S. economic data showed resilience, including a rise in Services PMI and Durable Goods Orders; July unemployment rate rose unexpectedly; PBoC refrained from gold purchases for three months; SPDR Gold Trust holdings reached a seven-month high; Comex Silver declined to $26.50 per ounce before recovering to $29.14; Anticipation of a 25 basis point rate cut in September; Upcoming PCE report crucial for Fed's decision-making; Gold prices likely to fluctuate based on U.S. labor report.
#Gold #Silver #FederalReserve #EconomicData #Volatility #Investing #GeopoliticalTensions #MarketTrends #Etf #InterestRates
https://www.businesstoday.in/personal-finance/investment/story/gold-prices-are-likely-to-experience-volatility-in-september-444876-2024-09-07

2024-09-02 14:42:36

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#note17r7…evxp

2024-09-02 14:42:25

CII Financing 3.0 Summit | Anantha Nageswaran: Long-Term Investment Crucial For Sustained Growth
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At the CII Financing 3.0 Summit in Mumbai on September 2, 2024, Dr. V. Anantha Nageswaran, Chief Economic Advisor, discussed the impact of India's financial boom. He stressed the importance of long-term investment and prudent market practices to avoid financial excesses similar to those before the 2008 U.S. crisis. Nageswaran noted that while financial sector growth has been beneficial, it could become a drag on growth if not managed properly. He emphasized the need for the financial sector to efficiently channel savings to support sustained economic growth.
#CiiFinancing30 #AnanthaNageswaran #LongtermInvestment #IndianEconomy #FinancialSector #EconomicGrowth #Mumbai #Financialization #UsindiaRelations #2024
https://www.businesstoday.in/bt-tv/video/cii-financing-30-summit-anantha-nageswaran-long-term-investment-crucial-for-sustained-growth-444090-2024-09-02

2024-08-30 08:02:21

'This is inexcusable...': Sanjeev Sanyal calls on private sector to bridge gap with global firms in R&D spending
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India's R&D investment as a percentage of GDP is 0.64%; significantly lower than China (2.41%), US (3.47%), and Israel (5.71%); Sanjeev Sanyal emphasizes the need for private sector to increase R&D spending; India's gross expenditure on R&D (GERD) rose from Rs 60,196.8 crore in FY11 to Rs 127,381 crore in FY21; private sector contributes only 36.4% to GERD, compared to 77% in China and 75% in the US; India granted nearly one lakh patents in FY24, up from under 25,000 in FY20; India's Global Innovation Index rank improved from 81st in 2015 to 40th in 2023; Sanyal's post on X highlights the ambition needed from the business sector.
#R&d #SanjeevSanyal #India #Economy #Innovation #Patents #PrivateSector #GlobalComparison #EconomicSurvey #Investment
https://www.businesstoday.in/india/story/this-is-inexcusable-sanjeev-sanyal-calls-on-private-sector-to-bridge-gap-with-global-firms-in-rd-spending-443662-2024-08-30

2024-08-21 10:44:46

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#note1ppk…7mxs

2024-08-05 02:21:15

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#note1j97…ckz7

2024-08-05 02:21:04

5 reasons why Sensex, Nifty may see selloff today; stock market outlook & more
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Weak Asian markets, recession fears in the US, geopolitical concerns, the uneasiness over domestic market valuations, and likely FPI outflows are five factors that may weigh on the market sentiment on Monday. Foreign portfolio investors may think of pulling more money out of India since India is the most expensive emerging market now. Benchmark indices are bracing for a gap-down opening on Monday morning, taking cues from global markets such as Japan, South Korea, and Australia that tumble up to 6 per cent amid concerns the US economy was headed towards a recession. Besides, there were fears over the escalating war in the Middle East, with Israel bracing for an attack from the Islamic Republic and the Lebanese Iran-supported Hezbollah, as Iran reportedly rejected attempts by the US and Arab nations to de-escalate tensions. The median trailing PE of BSE500 companies is at 43 times – nearly 2 times the median earnings growth. On the technical side, the market breadth turned a bit exhaustive, indicating a sign of caution. Jatin Gedia of Sharekhan noted that the Nifty saw a breakout failure recently, as it did not witness follow-through buying interest on the upside. At 7.15 am, Gift Nifty was trading at 24,377.50, down 250 points or 1.02 per cent.
#Sensex #Nifty #StockMarket #Recession #Fpi #MarketSentiment #Valuation #GlobalMarkets #MiddleEast #Bse500 #NiftySupport #TechnicalAnalysis
https://www.businesstoday.in/markets/stocks/story/5-reasons-why-sensex-nifty-may-see-selloff-today-stock-market-outlook-more-440097-2024-08-05

2024-07-25 06:17:20

What will it cost India, other countries if internet goes down for 1 hour or 1 day?
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The recent Crowdstrike outage affected over 8.5 million devices; India would lose $59.6 million for a 1-hour outage and $1.4 billion for a 24-hour outage; US would lose $459 million for a 1-hour outage and over $11 billion for a 24-hour outage; China would lose $412 million for a 1-hour outage and $9.9 billion for a 24-hour outage; UK would lose $136 million for a 1-hour outage and over $3.2 billion for a 24-hour outage; Amazon would lose $1.1 million for a 1-minute outage and nearly $1.6 billion for a 24-hour outage; Alphabet (Google) would lose $585,000 for a 1-minute outage and about $842 million for a 24-hour outage; Jingdong Mall would lose nearly $291,000 for a 1-minute outage and about $419 million for a 24-hour outage.
#InternetOutage #EconomicImpact #India #Us #China #Uk #Amazon #Alphabet #JingdongMall
https://www.businesstoday.in/technology/news/story/what-will-happen-to-india-other-countries-if-internet-goes-down-for-1-hour-or-1-day-438686-2024-07-25

2024-07-12 10:08:09

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#note177a…f8kg

2024-07-12 10:07:57

SBI, HDFC Bank, ICICI Bank: India's top 3 lenders give tough competition to global banks in Q2. Here's how
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India's top three lenders, State Bank of India (SBI), HDFC Bank, and ICICI Bank, saw a rise in their market capitalization in Q2 2024, improving their ranking in the global banking landscape. HDFC Bank's market value gained 17%, reaching $154.4 billion and jumping three spots to the 10th position. ICICI Bank's market value increased by 11.5% to $102.7 billion, helping it climb two spots to the 18th rank. The market cap of SBI increased by 11.9% to $90.1 billion, moving it up two spots to the 21st place. The aggregate market capitalization of the top 25 global banks increased by 5.4% to $4.11 trillion in Q2 2024. China Construction Bank and HDFC Bank stocks recorded over 15% growth, while TD Bank saw a decline of nearly 10% in market value. JPMorgan Chase retained its position as the most valuable bank. The performance of global banks in the second half of 2024 will be influenced by economic conditions, monetary policies, inflation, geopolitical factors, and regulatory scrutiny.
#Sbi #HdfcBank #IciciBank #MarketCapitalization #GlobalBanks #Q22024
https://www.businesstoday.in/industry/banks/story/sbi-hdfc-bank-icici-bank-indias-top-3-lenders-give-tough-competition-to-global-banks-in-q2-heres-how-436937-2024-07-12

2024-07-05 07:18:51

‘Coming at 30,215 kmph’: 120-foot Asteroid hurtling through space to approach Earth this week
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A 120-foot wide asteroid named 2024 ME1 will make a close approach to Earth on July 10, 2024. It is traveling at a speed of 30,215 kilometers per hour and will pass by Earth at a distance of 4.3 million kilometers. The asteroid is part of the Amor group, which has orbits that come close to Earth's orbit but do not intersect it. NASA and other space agencies monitor Amor asteroids to identify potential threats. Despite its high speed, 2024 ME1 poses no threat to Earth and will pass at a safe distance.
https://www.businesstoday.in/visualstories/news/coming-at-30215-kmph-120-foot-asteroid-hurtling-through-space-to-approach-earth-this-week-149341-05-07-2024

2024-06-22 14:09:07

GST Council meeting: Pan-India roll out of biometric authentication to check fake invoicing, FM says
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In the 53rd GST Council Meeting, FM Nirmala Sitharaman announced the pan-India roll out of biometric authentication to combat fake invoicing. The GST council recommended that Aadhaar biometric authentication be made mandatory for new GST registrations. The Finance Minister also declared that services provided by Indian Railways, such as platform tickets, will be exempted from GST.
#GstCouncil #BiometricAuthentication #FakeInvoicing #Aadhaar #GstRegistration #IndianRailways #GstExemptions
https://www.businesstoday.in/latest/economy/story/gst-council-meeting-pan-india-roll-out-of-biometric-authentication-to-check-fake-invoicing-fm-says-434354-2024-06-22

2024-06-20 01:31:26

'Prioritising free speech over profit on X': Elon Musk at Cannes
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Elon Musk, the owner of the social media platform 'X' (formerly Twitter), emphasized the importance of free speech over profits during his appearance at the Cannes Lions International Festival of Creativity. Musk stated that advertisers have the right to appear next to content that aligns with their brands, but it is not acceptable to insist on the absence of content they disagree with. He assured that 'X' will not censor content under pressure from advertisers and emphasized the platform's commitment to freedom of choice and open dialogue. Musk aims to create an environment where ads are considered content and are delivered to users based on their interests. The article was published on June 20, 2024.
#ElonMusk #FreeSpeech #Profit #X #CannesLionsInternationalFestivalOfCreativity
https://www.businesstoday.in/technology/news/story/prioritising-free-speech-over-profit-on-x-elon-musk-at-cannes-433960-2024-06-20

2024-06-13 08:36:23

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#note1d38…7v9m

2024-06-13 08:36:12

India: A $25 trillion economy by 2047
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Indian plans to reach US$ 25 to 35 trillion by 2047, at its 100th year of independence. The GDP and growth (2022-23) are US$ 3.3 trillion and 10.9% at current prices. If the depreciation of rupee is assumed at 2% per annum until 2046-47, the current rate of growth will reach GDP of US$ 25 trillion. At 4.2% depreciation the required GDP growth is 13.2%. Under all scenarios, the structure of the economy needs a change. The rate of gross capital formation (GCF) relative to GDP averaged 34 per cent during 2011-12 to 2022-23. Neither agriculture growth nor the labour employed in it can be sustained. Employment in manufacturing is under 12% of the workforce. A redeeming fact is TFP contributed 45% of the total growth post covid from 15% during 1981-2017. With an ICOR of close to 6.5 in the non-agriculture sector, a 7% growth would also require investment of more than 40% of GDP. Household enterprises and MSMEs are important not only because they account for over 40% of GDP, but they are also the key labour absorbers. Currently one third of the population in the age group 15-29 are neither in education, training, or employment (NEET).
#India #Economy #Gdp #Growth #Investment
https://www.businesstoday.in/latest/economy/story/india-a-25-trillion-economy-by-2047-433143-2024-06-13

2024-06-08 15:30:21

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#note1tyc…uv76

2024-06-08 15:30:09

Three-way tie for lead at LIV Golf Houston, Cleeks lead team race
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Rookie Caleb Surrat and the experienced duo of Martin Kaymer and Adrian Meronk shared the day one lead at LIV Golf Houston on Friday with 2023 team champions Crushers GC in seventh place. Defending team champions Crushers GC were in seventh place, six shots behind day one leaders Cleeks GC on after the opening day of LIV Golf Houston in Humble, Texas, while Legion XIII member Caleb Surrat was in a three-way tie at the top of the individual leaderboard on Friday. The Crushers were led by a bogey-free 5 under par 67 by Paul Casey with counting contributions of 2 under 69s from team captain Bryson DeChambeau and Anirban Lahiri to total 11 under for the day with the Cleeks on 17 under powered by matching 65s from captain Martin Kaymer and Adrian Meronk. Surrat’s error-free 65 pulled Jon Rahm’s Legion XIII into a tie for third place alongside the all-Australian Rippers GC, 2022 season toppers 4Aces and the Spanish-speaking Fireballs GC on 12 under par totals. Torque GC were second on 14 under par, three shots behind the leaders. The 20-year-old Surratt, youngest on LIV Golf’s roster, put behind his early season wobbles and his opening run at the Golf Club of Houston left him a happy golfer. The Cleeks’ on 17 under may have put them on track for their first trophy of any kind, and Friday was the first time they have led the field since last year’s opening round in Adelaide. US Open-bound Kaymer, one of 12 LIV Golf personnel scheduled to play next week at Pinehurst, also seems to have rediscovered his touch after coming through surgery on his wrist. Kevin Na of the Iron Heads and Carlos Ortiz of Torque were a shot behind the three leaders on 6 under 66 with seven players a further two shots back, including individual points leader Joaquin Niemann of Torque and hometown favourite Patrick Reed of the 4Aces. In all, 41 of the 54 players in the field broke par, with nine returning bogey-free rounds, as the winds died down on a steamy afternoon at the Golf Club of Houston.
#Golf #LivGolfHouston #Tournament #CalebSurrat #MartinKaymer #AdrianMeronk #CrushersGc #CleeksGc #LegionXiii #PaulCasey #BrysonDechambeau #AnirbanLahiri #JonRahm #RippersGc #4aces #FireballsGc #TorqueGc #KevinNa #CarlosOrtiz #JoaquinNiemann #PatrickReed
https://www.businesstoday.in/bt-golf-/news/story/three-way-tie-for-lead-at-liv-golf-houston-cleeks-lead-team-race-432596-2024-06-08

2024-06-07 14:04:21

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#note1lmq…e25k

2024-06-07 14:04:09

Meet Saurabh Netravalkar, a software engineer from Mumbai, who helped US win against Pakistan in T20 World Cup 2024
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Saurabh Netravalkar, an Oracle software engineer from Mumbai, became popular overnight after bowling against Pakistan in the T20 Cricket World Cup. Born in Mumbai in 1991, Netravalkar completed his BTech in Computer Engineering from Sardar Patel Institute of Technology and M Tech from Cornell University. He is a left-arm medium-fast bowler known for his consistency and ability to swing the ball. Netravalkar has played for the India U-19 team and represented Mumbai in the Ranji Trophy and Vijay Hazare Trophy. He is now the Captain of the United States national cricket team. His favorite cricketers are Glenn McGrath, Zaheer Khan, Wasim Akram, and Rahul Dravid. Netravalkar was selected in the USA cricket team 6 years ago and has been pursuing his job at Oracle on the side.
#SaurabhNetravalkar #Mumbai #T20WorldCup #Cricket #Oracle #UsaCricketTeam
https://www.businesstoday.in/visualstories/technology/meet-saurabh-netravalkar-a-software-engineer-from-mumbai-who-helped-us-win-against-pakistan-in-t20-world-cup-2024-142130-07-06-2024

2024-05-25 10:02:59

ISRO to source payloads from domestic firms
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ISRO plans to source payloads and satellites from Indian companies to propel them onto the global stage. This move marks the first time India is advancing payload technology and space-bound hardware outside of ISRO labs. During a visit to ISRO headquarters, US Ambassador to India, Eric Garcetti, discussed ongoing US-India space collaboration and proposed an innovative "QUAD satellite" involving India, the US, Japan, and Australia. The collaboration between NASA and ISRO includes joint initiatives in satellite technology, climate change monitoring, and human spaceflight. The potential use of the Gaganyaan cargo module for transferring cargo to the International Space Station (ISS) was also considered.
#Isro #Payloads #Satellites #IndianCompanies #UsindiaSpaceCollaboration
https://www.businesstoday.in/tech-today/news/story/isro-to-source-payloads-from-domestic-firms-430900-2024-05-25

2024-05-24 07:30:22

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#note1kh4…ptzd

2024-05-24 07:30:10

Antarctica's Thwaites Glacier is melting faster than anticipated, satellite data shows
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Recent findings suggest Antarctica's Thwaites Glacier is melting at a faster rate than previously believed. Utilizing observations from the ICEYE Synthetic Aperture Radar (SAR) satellite constellation, researchers discovered that Thwaites Glacier possesses a tidally controlled grounding zone, extending up to 3.7 miles (6 km) inland during spring tide. This extensive contact between warm seawater and the glacier leads to significant melting of grounded ice, making the glacier more susceptible to ocean warming. The findings indicate that the glacier is melting at a faster rate than previously predicted. Revising existing models based on these findings will lead to more accurate predictions of glacial melt and subsequent sea level rise worldwide. Thwaites Glacier, often dubbed the 'doomsday glacier,' remains highly unstable and could significantly contribute to rising sea levels. The accelerated melting underscores the urgent need for proactive measures to mitigate the impacts of climate change on global sea levels.
#Antarctica #ThwaitesGlacier #Melting #SatelliteData #SeaLevelRise #ClimateChange
https://www.businesstoday.in/visualstories/news/antarcticas-thwaites-glacier-is-melting-faster-than-anticipated-satellite-data-shows-138213-24-05-2024

2024-05-19 07:12:11

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#note1v3d…nd4r

2024-05-19 07:12:00

Top mediator counters Sanjeev Sanyal's 'SC works for a few hours' charge: 'Indian judges are among the hardest working'
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Sriram Panchu, a Senior Advocate, responds to Sanjeev Sanyal's remarks about the judiciary. Panchu argues that Indian judges are among the hardest working anywhere, with heavy caseloads and long working hours. He refutes the claim that judges work only for a few hours, stating that they sit in court from 10.30 am till 4.30 pm, often beyond, and work on case papers and orders outside of court hours. Panchu also defends court vacations, explaining that the system can only work if everyone takes vacations at the same time and that judges often spend their vacations hearing urgent cases and catching up on pending work. He acknowledges the enormous backlog of cases but argues that the availability of legal recourse in India prevents fighting in the streets and goon mafia. Panchu calls for sufficient funding for the judiciary and highlights the underfunding of the branch. He also suggests that the government should mediate its cases with citizens to reduce litigation and mentions the success of court-annexed mediation schemes. Panchu criticizes the collegium method of appointing judges for its lack of transparency and insularity, and calls for a more efficient system that includes different voices, including the government's. The views expressed are those of the author and do not reflect the positions of Business Today.
#Judiciary #IndianJudges #WorkingHours #Caseloads #CourtVacations #Backlog #Funding #Mediation #Collegium
https://www.businesstoday.in/india/story/top-mediator-counters-sanjeev-sanyals-sc-works-for-a-few-hours-charge-indian-judges-are-among-the-hardest-working-430133-2024-05-19

2024-05-15 14:27:42

'US tariff increase on Chinese imports shows countries not willing to put all eggs in one basket'
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US President Joe Biden announced steep tariff hikes on Chinese imports including EV batteries, EVs, semiconductors, solar cells, and others. The decision indicates that no country is willing to put all their eggs in one basket post the Covid-19 pandemic. India is also following a policy to ensure domestic capability for manufacturing EVs. The US is trying to lessen dependence on China, particularly in battery manufacturing. The raising of tariffs on EVs, batteries, and other new technology items by the US may push China to dump these products in other markets, including India. The DGTR will look into any anti-dumping issues. Moody's notes that the new tariffs are another hit to supply chains as they try to manage ongoing risks and build resiliency. In 2023, the US imported goods worth $427 billion from China and exported $148 billion.
#Us #China #Tariffs #Imports #Evs #Manufacturing
https://www.businesstoday.in/latest/economy/story/us-tariff-increase-on-chinese-imports-shows-countries-not-willing-to-put-all-eggs-in-one-basket-429701-2024-05-15

2024-05-13 13:17:24

Jim Rogers Warns About Rising Debt In U.S, Could Trigger Volatility In The Market
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Commodity Guru Jim Rogers warns about the mounting debt in the American stock market and its potential impact. He cautions that escalating inflation and spending could lead to a recession similar to 2008, or potentially worse. Rogers suggests that the United States should reduce its spending to benefit the world and warns that if the US continues with its rising debt, it could spell the end of the US economy. He also asserts that if the Indian Rupee is liberalized, the Indian economy will grow rapidly.
#JimRogers #Debt #Volatility #Market #Inflation #Recession #UsEconomy #IndianRupee #IndianEconomy
https://www.businesstoday.in/bt-tv/market-today/video/jim-rogers-warns-about-rising-debt-in-us-could-trigger-volatility-in-the-market-429398-2024-05-13

2024-05-12 09:37:16

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#note1hrg…0lxz

2024-05-12 09:37:04

Sensex, Nifty this week: Dalal Street to keep watch on CPI, WPI, US core inflation for cues
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Throughout the week, the Indian markets largely exhibited a downward trend, signalling an emerging pattern where investors are opting to sell during rallies. India’s headline retail inflation data (CPI), Wholesale Price Index (WPI), bank loan and deposit growth, US Fed Chair Powell’s speech, and US core inflation rate are some of the major events that will keep the markets buzzing. In the coming week, investors will be eyeing major macro-economic data for more cues starting with the Consumer Price Index (CPI) or headline retail inflation data for April, which will be out on May 13. On May 14, market participants will be watching for the Wholesale Price Index (WPI) data for April. The Exports and Imports data and Passenger Vehicles data are awaited on May 15. Further, investors will be eyeing data on Bank Loan and Deposit growth, and Foreign Exchange Reserves on May 17. In the last leg of ongoing result season, traders will be eyeing earnings of the remaining prominent companies, including Tube Investments of India, Aditya Birla Capital, BASF India, Shree Cements, Radico Khaitan, V-Mart Retail, Power Finance Corporation, Rail Vikas Nigam, LIC Housing Finance, Granules India, Trident, Hindustan Aeronautics, Biocon, Crompton Greaves Consumer Electrical, JSW Steel, Atul Auto, NHPC, TV Today Network, and Mindteck (India). On the global front, investors would be eyeing some important economic data from the world’s largest economy, the US, starting with Consumer Inflation Expectations on May 13. On the same day, investors will be looking for Fed Vice Chair Jefferson’s speech for more directional cues. Producer prices in the US and Fed Chair Powell’s speech are expected on May 14. Core Inflation Rate, Retail Sales, and EIA Crude Oil Stocks will be released on May 15, Initial Jobless Claims, Export and Import prices, Industrial Production on May 16 and Baker Hughes Oil Rig Count on May 17 will also be keenly watched. Deepak Jasani, Head of Retail Research at HDFC Securities said, Nifty gained for the day but logged its worst week in nearly two months on May 10 as nervous election-related reports continued albeit at a slower pace. Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said the Bank Nifty index remained under a bear grip while encountering resistance at elevated levels.
#Sensex #Nifty #DalalStreet #Cpi #Wpi #UsCoreInflation #IndianMarkets #RetailInflation #MacroeconomicData #Earnings #UsMarketData #TechnicalOutlook #Nifty #BankNifty
https://www.businesstoday.in/markets/market-perspective/story/sensex-nifty-this-week-dalal-street-to-keep-watch-on-cpi-wpi-us-core-inflation-for-cues-429251-2024-05-12

2024-05-08 12:53:32

'Omens are good for us': CEA Anantha Nageswaran sees steady growth rate of 6.5-7% for rest of decade beyond FY25
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The Chief Economic Advisor (CEA) of the Indian government, V Anantha Nageswaran, is optimistic about the country's economic growth. He believes that the economy may have grown at over 8% in FY24 and could expand at 7% or more in the current fiscal year. The growth rate will depend on the monsoon and its spatial and temporal distribution. The CEA expects the economy to continue growing at a steady rate of between 6.5% and 7% for the rest of the decade beyond FY25. He emphasized that investments in physical and digital infrastructure have put the economy in a better position to pursue non-inflationary growth. The CEA also highlighted the need to convert impediments into opportunities for growth, such as deregulating compliances and inspections, investing in skilling, and focusing on the health of the young demography. The World Bank and think tank NCAER are also optimistic about India's growth prospects, with the World Bank likely to upgrade its GDP growth estimate for FY25. The World Bank Country Director for India, Auguste Tano Kouamé, stated that signs are quite good for India's growth. Poonam Gupta, Director General of NCAER, expects GDP growth in FY25 to be over 7% and believes that the Indian economy has become more resilient to shocks.
#IndianEconomy #EconomicGrowth #ChiefEconomicAdvisor #GdpGrowth #Monsoon #Infrastructure #Inflation #WorldBank #Ncaer
https://www.businesstoday.in/latest/economy/story/omens-are-good-for-us-cea-anantha-nageswaran-sees-steady-growth-rate-of-65-7-for-rest-of-decade-beyond-fy25-428792-2024-05-08

2024-05-05 09:38:38

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#note1e2g…8pyu

2024-05-05 09:38:25

Life might have begun 540 million years ago due to glitch in Earth's magnetic field: Study
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During the Ediacaran Period over 500 million years ago, complex, multicellular organisms emerged. Researchers have found evidence that Earth's magnetic field was in an unusual state during this period. A study suggests that fluctuations in the magnetic field and oxygen levels in the oceans played a significant role in the emergence of complex life forms. The Ediacaran fauna, resembling early animals, were notable for their large size. Earth's magnetic field weakened drastically during the Ediacaran Period, likely facilitating hydrogen loss from the atmosphere and leading to increased oxygenation. Understanding the geological dynamics during this period provides insights into life's origins on Earth and elsewhere in the universe.
https://www.businesstoday.in/visualstories/news/life-might-have-begun-540-million-years-ago-due-to-glitch-in-earths-magnetic-field-study-133627-05-05-2024

2024-05-05 09:03:36

Will Monday be a Fry Day? Rising India VIX, volatile FII flows has Dalal Street on the edge for now
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On Friday, the BSE Sensex dropped 732.96 points to settle at 73,878.15 after soaring 484.07 points. The NSE Nifty also declined 172.35 points to 22,475.85. FPIs have invested Rs 1,156 crore in equity and sold Rs 1,726 crore in debt. The rising VIX is indicative of potential volatility. Major companies' earnings and economic data will be watched closely. Nifty could head towards 22192 on the downside while 22619-22794 band could offer resistance on the upside. BankNifty index faced selling pressure from higher levels but maintained its uptrend, closing near the immediate support of 49,000.
#StockMarket #IndiaVix #FiiFlows #BseSensex #NseNifty #Equity #Debt #Earnings #EconomicData #Nifty #Banknifty
https://www.businesstoday.in/markets/stocks/story/will-monday-be-a-fry-day-rising-india-vix-volatile-fii-flows-has-dalal-street-on-the-edge-for-now-428332-2024-05-05

2024-05-04 14:59:11

What will Warren Buffett do next? Billionaire sitting on mountain of cash but no big deal in sight
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Warren Buffett's company, Berkshire Hathaway, posted a record quarterly profit boosted by strength in its insurance operations. The company also reported first-quarter operating earnings of $11.2 billion. Despite ramping up acquisitions in recent years, Berkshire has struggled to find sizable deals, leaving Buffett with a cash stake of $189 billion. In the absence of deals, Berkshire has resorted to buying back its own shares, spending about $2.6 billion in the first quarter. Buffett has expressed a lack of meaningful deals and a desire for "eye-popping performance." Berkshire's earnings rose despite Buffett's warning that profits at most of its operations would fall in 2023 as the US economy's "incredible period" draws to an end.
#WarrenBuffett #BerkshireHathaway #Investments #CashPile #RecordProfit
https://www.businesstoday.in/markets/stocks/story/what-will-warren-buffett-do-next-billionaire-sitting-on-mountain-of-cash-pile-but-no-deal-in-sight-428306-2024-05-04

2024-05-01 07:07:49

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#note1ut8…0a0f

2024-05-01 07:07:38

Huawei Stages Incredible Comeback To Top China Smartphone Charts Despite U.S. Sanctions
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Huawei Technologies reported a Q1 profit growth of 19.6 billion yuan ($3.68 billion), a 564% increase from the previous year. Sales also grew by 37%, totaling 178.5 billion yuan. Despite US sanctions, Huawei showed resilience with a 70% increase in smartphone shipments, following the launch of a new 5G phone with a 7-nanometer chip developed in China. Apple's iPhone sales in China fell by 25%. Huawei's Pura 70 smartphone series, featuring an enhanced chip, sold out within two days of release.
#Huawei #China #Smartphone #UsSanctions
https://www.businesstoday.in/tech-today/video/huawei-stages-incredible-comeback-to-top-china-smartphone-charts-despite-us-sanctions-427769-2024-05-01

2024-04-29 12:00:15

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#note13dl…n393

2024-04-29 12:00:04

Gold, silver price on April 29: Yellow metal sees first weekly loss in six weeks
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Gold futures witnessed the first weekly decline in six and plunged more than 2% during the previous week. Gold prices at the MCX on Monday were at Rs 71,230 per 10 grams, hitting an intraday low of Rs 71,147. In the international market, prices hovered around $2,330.99 per ounce. Meanwhile, silver hovered at Rs 82,347 per kg and hit an intraday low of Rs 82,230 on the MCX. Kaynat Chainwala, Senior Manager-Commodity Research, Kotak Securities, said, "COMEX Gold futures witnessed the first weekly decline in six and plunged more than 2% during the previous week, as investor’s gauged ease in geo-political tensions, mixed economic data from US and hawkish comments from Fed officials ahead of the FOMC policy meeting this week." The US economy grew much less than expected in Q1 but inflationary pressures remained elevated. Swap markets have pushed the first quarter point rate cut to November. The Federal Reserve is expected to deliver a hawkish tone given the recent uptick in inflation, said Chainwala. Additionally, Deveya Gaglani, Research Analyst - Commodities at Axis Securities, said, "MCX gold drifted 1.8% lower, suffering its most significant weekly drop since Dec 4, 2022 (-2.6%) as the Gold rush diminished with reduced tension between Israel and Iran. However, the weak GDP data print from the USA released last week relieved gold bulls, enabling them to recover by 1.84% from the recent swing low, i.e. Rs 70,202." Manav Modi, Analyst, Commodity and Currency, MOFSL, said, "Sticky inflation has seen policymakers shift the debate from how many times they will cut rates to whether they should ease at all this year. This delay in rate cut has supported the Dollar Index and US Treasury yields." Gold prices have posted significant gains in the past few months, hence some steam off was also warranted. On data front, advance US GDP slowed sharply in the last quarter to a 1.6% annual pace in the face of high interest rates. On the other hand, the U.S. personal consumption expenditures (PCE) price index increased 0.3% last month, in line with forecasts, a development that is unlikely to change expectations that the Fed will hold off cutting interest rates until September. Modi said, "China's gold consumption in the first quarter climbed nearly 6% from a year earlier. Physical gold dealers in India charged premiums last week for the first time in nearly two months as a pullback in domestic prices lured buyers, while premiums in top consumer China slipped."
#Gold #Silver #Price #WeeklyLoss #Commodities #Economy #Inflation #FederalReserve
https://www.businesstoday.in/personal-finance/news/story/gold-silver-price-on-april-29-yellow-metal-sees-first-weekly-loss-in-six-weeks-427403-2024-04-29

2024-04-23 02:01:40

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#note1nts…97xr

2024-04-23 02:01:28

Cognizant partners with Microsoft, to drive enterprise Gen AI adoption
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Cognizant and Microsoft have expanded their partnership to drive the adoption of Generative AI in the Enterprise and industry transformation. Cognizant has purchased 25,000 Microsoft 365 Copilot seats for its associates, along with 500 Sales Copilot seats and 500 Services Copilot seats. The strategic investment aims to boost productivity, streamline processes, and redefine customer interactions. Cognizant plans to deploy Microsoft 365 Copilot to a million users within their global 2000 clients and across 11 industries. The partnership has the potential to deliver substantial innovation for enterprise customers and accelerate AI adoption and innovation in India. Cognizant CEO Ravi Kumar S has announced a $1 billion investment in generative AI over the next three years. Cognizant and Microsoft will collaborate to deliver industry-specific solutions using Copilot Studio, prioritizing applications across industries such as healthcare, retail, financial services, and more.
#Cognizant #Microsoft #GenerativeAi #Enterprise #Partnership #Technology
https://www.businesstoday.in/technology/news/story/cognizant-partners-with-microsoft-to-drive-enterprise-gen-ai-adoption-426481-2024-04-23

2024-04-23 01:48:46

2024-04-21 08:53:31

Sensex, Nifty this week: Q4 results, US jobs data to guide Dalal Street
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This week, the market is going to watch closely India’s manufacturing PMI, services PMI, Foreign Exchange Reserves data, quarterly results of blue-chip companies along with the trade data, and jobless claims data in the US for guidance. Traders will be closely watching the earnings of prominent companies, including Reliance Industries, Axis Bank, Hindustan Unilever, LTIMindtree, Nestle India, Tech Mahindra, HCL Technologies, Maruti Suzuki India and ICICI Bank will release their Q4 earnings. Other major companies, which will announce their Q4FY24 results during the week are Bajaj Finserv, MAS Financial Services, Tata Consumer Products, Tata Elxsi, Mahindra and Mahindra Financial, Bajaj Finance, Persistent Systems, Cyient, IndusInd Bank, L&T Technology Services, Bajaj Holdings And Investment, L&T Finance, SBI Cards and Payment Services and SBI Life Insurance Company etc. Investors will be eyeing HSBC Composite PMI Flash, HSBC Manufacturing PMI Flash, HSBC Services PMI Flash, which is scheduled to be released on April 23. The HSBC India Composite PMI was revised upward to 61.8 in March 2024 from a preliminary reading of 61.3, pointing to the second-strongest upturn in over the past years. Foreign Exchange Reserves data to be out on April 26. Foreign Exchange Reserves in India increased to $648560 million on April 5 from $645580 million in the previous week. On the global front, investors would be eyeing some important economic data from the world’s largest economy, the United States (US), starting from the Chicago Fed National Activity Index on April 22, Redbook, S&P Global Composite PMI Flash and New Home Sales, on April 23. Besides these, Durable Goods Orders on April 24, Goods Trade Balance Adv, Continuing Jobless Claims, Real Consumer Spending, on April 25, and Michigan Consumer Sentiment, Baker Hughes Oil Rig Count on April 26 data will be released.
#Sensex #Nifty #Q4Results #UsJobsData #DalalStreet
https://www.businesstoday.in/markets/top-story/story/sensex-nifty-this-week-key-factors-that-may-guide-d-street-amid-geopolitical-tensions-426283-2024-04-21

2024-04-20 08:49:36

Nirmala Sitharaman on Indian economy after 2014: "Can be case study for Harvard..."
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The finance minister, Nirmala Sitharaman, stated that the restoration of the Indian economy, especially banks, since 2014 can be a lesson for Harvard Business School. She highlighted the Indian government's role in safeguarding the infrastructure of Indian banks during and after the pandemic, citing the example of the Silicon Valley Bank's failure in the US. Sitharaman praised the Indian banking sector for effectively managing mergers and ensuring stability. She acknowledged the difficulties faced by the government in restoring the economy, including merger-related issues, liquidity problems in 2019, the impact of COVID-19, and the fragile economy in need of restoration. Sitharaman expressed optimism about India's future and its ability to achieve the vision of Viksit Bharat by 2047 with continued collective effort.
#NirmalaSitharaman #IndianEconomy #Banks #HarvardBusinessSchool #SiliconValleyBank #Covid19 #ViksitBharat
https://www.businesstoday.in/latest/economy/story/nirmala-sitharaman-says-indian-economy-after-2014-can-be-a-case-study-for-harvard-426234-2024-04-20

2024-04-15 02:37:58

'This is not justice': Sarabjit Singh's daughter on death of his killer Amir Sarfaraz
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Swapandeep Kaur, the daughter of Sarabjit Singh, an Indian death row prisoner in Pakistan, expressed dissatisfaction with the death of her father's killer, Amir Sarfaraz Tamba, stating that it was not justice. Kaur called for a trial to determine the reasons behind her father's killing and the individuals responsible. She also claimed that the Pakistani government orchestrated her father's murder in 2013 and accused them of covering up the conspiracy. Kaur mentioned that her father's last letter revealed that he was being given slow poison and treated inhumanely in jail. Additionally, she noted that a diary documenting her father's experiences in the Pakistani jail was not sent with his body. Amir Sarfaraz Tamba, a close associate of Lashkar-e-Taiba founder Hafiz Saeed and an accused in Sarabjit Singh's murder, was killed in Lahore by unknown gunmen in a targeted attack. In 2018, a Pakistani court acquitted Tamba and another suspect in the murder case due to a lack of evidence and witnesses turning hostile. Sarabjit Singh was sentenced to death in Pakistan in 1990 for alleged spying and bomb attacks. He was killed in 2013 after being attacked by a group of Pakistani prisoners. Singh's family maintained that he had inadvertently crossed the border while farming.
#SarabjitSingh #AmirSarfarazTamba #SwapandeepKaur #Pakistan #Justice #DeathPenalty
https://www.businesstoday.in/india/story/this-is-not-justice-sarabjit-singhs-daughter-on-death-of-his-killer-amir-sarfaraz-425487-2024-04-15

2024-04-14 08:28:43

Will Iranian drones sink Dalal Street? What investors should expect in a holiday-shortened week
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Investors will be watching for earnings reports from Infosys, Bajaj Auto, and Wipro later in the week. Geopolitical events, macroeconomic data, and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead. Stock markets will remain closed on Wednesday for Ram Navami. Any significant escalation in tensions between Iran and Israel could trigger panic selling and volatility in global equity markets. The movement of crude oil prices, China's GDP data, US retail sales figures, and movements in the US bond yields and the dollar index will be important factors influencing market sentiment. TCS reported a 9% growth in net profit at Rs 12,434 crore in the fourth quarter of FY24 due to strong domestic business. In the entire fiscal year, TCS' net profit surged 9% to Rs 45,908 crore, while the revenue went up to Rs 2,40,893 crore from Rs 2,25,458 crore a year ago. The outlook for the market will be guided by major global and domestic economic data, India's WPI inflation data and WPI manufacturing data, China GDP growth rate, US manufacturing production, and US initial jobless claims. Retail inflation declined to a five-month low of 4.85% in March. India's industrial production growth accelerated to a four-month high of 5.7% in February 2024. The Indian equities' upward march may be halted by negative news from the global front. Last week, the BSE benchmark Sensex dipped marginally by 3.32 points after a record-breaking rally.
#StockMarket #EarningsReports #GeopoliticalEvents #MacroeconomicData #Tcs #GlobalEquityMarkets #CrudeOilPrices #ChinaGdpData #UsRetailSalesFigures #UsBondYields #DollarIndex #India'sWpiInflationData #India'sWpiManufacturingData #UsManufacturingProduction #UsInitialJoblessClaims #RetailInflation #IndustrialProductionGrowth #IndianEquities #BseBenchmarkSensex
https://www.businesstoday.in/markets/stocks/story/iranian-drones-china-and-earnings-to-top-dalal-streets-mind-in-a-holiday-shortened-week-425459-2024-04-14

2024-04-14 06:27:11

Glenmark recalls blood pressure drug over dissolution specifications in US
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Glenmark Pharmaceuticals is recalling 6,528 bottles of Diltiazem Hydrochloride extended-release capsules, a medication used to treat high blood pressure, in the US market. The recall is due to failed dissolution specifications. The affected lot, produced in India, is being recalled by Glenmark Pharmaceuticals Inc. The recall was initiated on March 26 and is classified as a Class II recall, indicating that the use of the product may cause temporary or medically reversible adverse health consequences. India is the largest supplier of generic medicines globally, with 20% market share. India has the highest number of USDA-compliant companies with plants outside of the US.
#GlenmarkPharmaceuticals #BloodPressureDrug #Recall #UsMarket #DissolutionSpecifications
https://www.businesstoday.in/latest/corporate/story/glenmark-recalls-6528-bottles-of-blood-pressure-drug-in-us-425445-2024-04-14

2024-04-13 22:53:49

US attacks Iranian 'Shaheed' drones launched towards Israel, guns down a few over Iraq: Report
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The Israeli military stated early on Sunday that Iran has launched over 100 explosives-laden drones towards Israel. U.S. and British warplanes intercepted and shot down several Iranian drones en route to Israel over the Iraq-Syria border area. Iran's Islamic Revolutionary Guards Corps confirmed launching numerous drones and missiles towards Israel. The United States has pledged its support for Israel in response. Iran's Defense Minister warned of strong retaliation against any nation that allows Israel to use its airspace or territory for attacks on Iran. Prime Minister Netanyahu is convening the Israeli war cabinet. Iran's actions come after it perceives an Israeli attack on its Damascus consulate on April 1.
#UsiranTensions #IsraeliiranianConflict #Iran #Israel #Drones #Missiles
https://www.businesstoday.in/latest/world/story/us-attacks-iranian-shaheed-drones-launched-towards-israel-guns-down-a-few-over-iraq-report-425433-2024-04-14

2024-04-13 05:07:45

Amid tense ties, Maldives wants to settle payment for imports from India in local currency
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Maldives is in talks with India to make payments for its imports in Maldivian Rufiyaa. The move will mark a significant shift away from the dominant use of the US dollar in international transactions. Maldives imports goods worth USD 780 million and USD 720 million from India and China respectively. The aim is to ensure that goods imported from India could be paid for in Maldivian Rufiyaa. Efforts are underway to sign a currency swap agreement between Maldives and China.
https://www.businesstoday.in/latest/economy/story/amid-tense-ties-maldives-wants-to-settle-payment-for-imports-from-india-in-local-currency-425382-2024-04-13

2024-04-11 11:59:13

'High degree of optimism, but...': Here's what is ailing the Indian economy, according to CII president R. Dinesh
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R. Dinesh, President of the Confederation of Indian Industry (CII) and Chairman of TVS Supply Chain Solutions, expresses optimism about the state of the Indian economy. He acknowledges that while there are geopolitical uncertainties and issues, India's strong economic base justifies the optimism. However, he notes that India has experienced a K-shaped recovery post-pandemic, with some sectors performing well and others struggling. Dinesh highlights concerns about the European and UK markets and their potential impact on the Indian economy. He expects lagging sectors like IT to recover in 2-3 quarters, but sees opportunities in the services sector.
#IndianEconomy #Optimism #Cii #RDinesh #Recovery #Sectors #ServicesSector
https://www.businesstoday.in/india/story/high-degree-of-optimism-but-heres-what-is-ailing-the-indian-economy-according-to-cii-president-r-dinesh-425153-2024-04-11

2024-04-04 06:58:28

Powell sticks with Fed's cautious rate-cut strategy
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Federal Reserve officials, including Jerome Powell, suggest more time and data are needed before deciding on interest rate cuts. Powell stated that rate cuts will happen once inflation reaches the Fed's 2% target. Atlanta Fed President Raphael Bostic believes rates should not be reduced until the fourth quarter of this year, with only one quarter-percentage-point cut anticipated in 2024. Fed Governor Adriana Kugler expects a disinflationary trend to continue and pave the way for rate cuts throughout the year. The Fed last month held its benchmark overnight interest rate steady in the 5.25%-5.50% range. Powell maintains the baseline outlook that rates will fall 'later this year' but has not hinted at when the Fed might loosen its grip on credit. Inflation remains above the central bank's 2% target, and recent progress has been minimal. Published on Apr 04, 2024, 11:41 AM IST.
https://www.businesstoday.in/world/us/story/powell-sticks-with-feds-cautious-rate-cut-strategy-424261-2024-04-04

2024-04-01 12:36:27

India's entry into chip equipment manufacturing a masterstroke, says Fab Economics CEO
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India is aiming to bring semiconductor wafer fab equipment (WFE) manufacturing in-house, which is currently restricted to a select few nations. Fab Economics CEO Danish Faruqui believes this move is a masterstroke based on the geopolitics of semiconductors. India's inclusion of WFE manufacturing in its semiconductor decadal roadmap is seen as existential for the domestic semiconductor ecosystem. India's approach differs from China's, as it plans to include domestic WFE manufacturing from the beginning, while China relied on the US, EU, and Korea for semiconductor manufacturing equipment. The US has blocked China from domestically producing semiconductor manufacturing equipment, resulting in a major choke point for China's domestic semiconductor ecosystem growth. India's announcement provides an alternative to China for WFE manufacturing at a similar geo-economic level. India must tailor its semiconductor policy for WFE domestic manufacturing based on the total cost of ownership structures and consider the Asia-Pacific subsidy competitive positioning for WFE. India's entry into chip equipment manufacturing will boost economic competitiveness and provide a complete trusted value chain and supply chain for legacy node semiconductors. This move is seen as a unique alternative for western stack countries like the US and EU, which rely on legacy chips for various end markets.
#Semiconductor #ChipEquipmentManufacturing #WfeManufacturing #Geopolitics #Geoeconomics
https://www.businesstoday.in/technology/story/indias-entry-into-chip-equipment-manufacturing-a-masterstroke-says-fab-economics-ceo-danish-faruqui-423751-2024-04-01

2024-04-01 09:08:47

How J P Morgan is betting on India's new-age economy
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J P Morgan is prioritizing the new-age economy in India, focusing on financial inclusion and energy transition. The bank is targeting not only large Indian corporates and multinational companies but also new-age companies and potential competitors in the banking industry. J P Morgan is developing solutions on the wholesale side of the business that are relevant for other banks as well, and some Indian banks are evaluating potential partnerships with the foreign bank. The bank is also focusing on innovation and technology, aiming to do the 2% that will keep them ahead of others. J P Morgan has attained critical size and scale in the new-economy segment in the US, which will benefit other key markets including India. New-age companies offer opportunities in banking, investment banking, and the capital market. The bank wants to focus more on financial inclusion and energy transition while advancing in both traditional and investment banking. The Senior Country Officer-India and Vice Chairman-Asia Pacific, Kaustubh Kulkarni, is optimistic about growth opportunities in the banking space in India, with healthy growth on the asset side and reasonable growth on the liability and deposit sides. There will be investment opportunities from the private sector, resulting in financing opportunities for the bank.
#JPMorgan #India #NewageEconomy #FinancialInclusion #EnergyTransition #WholesaleBanking #Innovation #Technology #InvestmentBanking #CapitalMarket
https://www.businesstoday.in/magazine/deep-dive/story/how-j-p-morgan-is-betting-on-indias-new-age-economy-423706-2024-04-01

2024-03-30 06:58:53

Markets this week: From RBI policy decisions to US unemployment rate, factors that may drive Dalal Street
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This week, RBI policy decisions, bank loan growth, deposit growth, and auto sales data along with the Balance of Trade, and unemployment rate in the US may sway the markets. Indian markets ended the last week with healthy gains amid S&P Global Ratings raising India's Gross domestic product (GDP) growth forecast for the next financial year (FY25) to 6.8%. The coming week will be crucial as it’s the start of the new month and a new financial year. There will be some important macroeconomic data to guide the markets. First, the Investors will be eyeing the HSBC Manufacturing PMI Final, scheduled to be released on April 02, the HSBC Composite PMI Final, HSBC Services PMI Final to be released on April 04. Markets will be keenly waiting for the Reserve Bank of India (RBI) policy decisions, which will be announced on April 05. On the same day, Cash Reserve Ratio, Bank Loan Growth, Deposit Growth, and Foreign Exchange Reserves data going to be out. Additionally, auto companies would grab some attention, as they will announce their monthly sales figures. On the global front, investors would be eyeing some important economic data from world’s largest economy, United States (US), starting with S&P Global Manufacturing PMI Final, ISM Manufacturing Employment releasing on April 01, Redbook, Factory Orders on April 02, S&P Global Composite PMI, ISM Services Business Activity on April 03, Balance of Trade, Initial Jobless Claims on April 04, Non-Farm Payrolls, and Unemployment Rate, will be released on April 05. Nifty extended the winning run on the second consecutive day on March 28 although it pared some gains in the last hour of the session. At close, Nifty was up 0.92% or 203.3 points at 22326.9. Global stocks hit fresh records heading into the long Easter weekend break as equities headed for a second quarterly gain. Nifty once again formed a bull candle with a high upper shadow, reflecting selling pressure on rises. Nifty rose 1.04% for the week, 1.57% for the month and 1.80% for the quarter. “22,526 is proving tough to be breached on the up, while 21973-22180 band could provide the near-term support for the markets,” Jasani said. After a period of bullish resurgence, the Bank Nifty index exhibited strength by surpassing the 20-day moving average hurdle set at 47,000, backed by significant volumes. Despite this, it faced resistance around the 47,500 mark. “A decisive breach above this resistance could propel the index towards the 48,000 level. Conversely, the immediate support is situated at the 47,000-46,800 zone. A conclusive drop below this support level, especially on a closing basis, might indicate a false breakout scenario”, Shah said.
#Markets #Rbi #PolicyDecisions #UsUnemploymentRate #DalalStreet
https://www.businesstoday.in/markets/top-story/story/markets-this-week-from-rbi-policy-decisions-to-us-unemployment-rate-factors-that-may-drive-dalal-street-423515-2024-03-30

2024-03-29 17:56:05

'We don't need to be in a hurry to cut': Jerome Powell says Fed will wait for inflation to 'come in line'
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Federal Reserve Chair Jerome Powell stated that the US economy has remained resilient despite high interest rates and that the Fed is not in a rush to cut interest rates. Powell mentioned that the fresh inflation data released is in line with expectations, but it won't be appropriate to lower rates until officials are confident inflation is on track toward their 2% goal. The core personal consumption expenditures price index rose 0.3% in February after climbing 0.5% in the previous month. Powell expects inflation to continue falling on a 'sometimes bumpy path' and stated that it would likely be appropriate to ease policy 'at some point this year.' However, he and other policymakers are in no rush given the underlying strength of the economy and recent signs of persistent price pressures.
#FederalReserve #JeromePowell #UsEconomy #Inflation #InterestRates
https://www.businesstoday.in/latest/economy/story/we-dont-need-to-be-in-a-hurry-to-cut-jerome-powell-says-fed-will-wait-for-inflation-to-come-in-line-423502-2024-03-29

2024-03-22 12:58:42

#BTBestBanks | Shaping India's Financial Landscape: Ashish Chauhan At BT Banking & Economy Summit
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Ashish Chauhan, MD & CEO of NSE India, will be speaking at the BT Banking & Economy Summit. The summit brings together policymakers, regulators, and senior executives of the banking and financial services sector to discuss key trends and issues in the industry. The event will also feature the BT Best Bank Awards ceremony. The summit aims to address the evolving business and operating environment in the banking and financial industry.
#Btbestbanks #AshishChauhan #BtBanking&EconomySummit #Banking #FinancialIndustry
https://www.businesstoday.in/bt-tv/banking-and-economy-summit/video/btbestbanks-shaping-indias-financial-landscape-ashish-chauhan-at-bt-banking-economy-summit-422580-2024-03-22

2024-02-28 03:43:32

Starbucks agrees to US union organizing 'framework'
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Starbucks and Workers United have agreed to create a 'framework' to guide organizing and collective bargaining for the coffee chain's U.S. workforce. The agreement aims to settle pending legal disputes and includes discussions on a fair process for workers to organize and achieve collective bargaining agreements on a store-by-store basis. Starbucks has agreed to provide benefits to workers at unionized stores, including the ability to receive customer tips from credit card transactions. This marks a significant development in the labor campaign that began in 2021 and has led workers to unionize at nearly 400 of Starbucks' 9,000 U.S. stores.
#Starbucks #Union #Organizing #CollectiveBargaining #LegalDisputes
https://www.businesstoday.in/world/us/story/starbucks-agrees-to-us-union-organizing-framework-419222-2024-02-28

2024-02-16 04:53:36

How can I, a 39-year-old unmarried man earning Rs 1.05 lakh monthly, reach a goal of Rs 1 crore within 5 years?
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A 39-year-old unmarried man earning Rs 1.05 lakh monthly wants to reach a goal of Rs 1 crore within 5 years. He currently has investments in mutual funds, NPS, and LIC Jeevan Saral. An investment expert advises him to stop contributions to NPS and LIC Jeevan Saral as they do not align with his goal. Instead, he should increase his monthly investments by Rs 50,000 and allocate 60% to a Large Cap Fund and the remaining amount to a flexi cap fund. He should also plan to boost his monthly investments by an additional Rs 10,000 each year. The expert emphasizes the importance of aligning investments with goals and regularly reviewing the portfolio.
#Investment #Goal #MutualFunds #Nps #LicJeevanSaral
https://www.businesstoday.in/personal-finance/investment/story/how-can-i-a-39-year-old-unmarried-man-earning-rs-105-lakh-monthly-reach-a-goal-of-rs-1-crore-within-5-years-417765-2024-02-16

2024-02-08 07:50:07

Gold and silver prices today: Yellow metal edges up amid dollar relief
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Gold prices opened on the Multi Commodity Exchange (MCX) on Thursday at Rs 62,436 per 10 grams and hit an intraday low of Rs 62,375. In the international market, prices hovered around $2,032.21 per troy ounce. Meanwhile, silver opened at Rs 70,091 per kg and hit an intraday low of Rs 70,051 on the MCX. The price hovered around $22.33 per troy ounce in the international market. Analysts say apart from the dilemma over interest rates, geopolitical tensions in the Middle East are providing a strong floor for bullion. The dollar fell slightly from three-month highs. A recent report suggests that the commander of an Iran-backed Militia who attacked three American soldiers in Jordan has been killed. Amit Khare, Associate Vice President at GCL Broking, said, "MCX Gold and Silver gave negative closing yesterday, April Gold closed at 62524(-0.10%) and March Silver closed at 70311(-0.45%)." Adhil Shetty, CEO of BankBazaar, said, "When the RBI maintains the repo rate at 6.5%, it can influence gold hedging strategies in various ways."
#Gold #Silver #Prices #DollarRelief #Mcx #GeopoliticalTensions #MiddleEast #InterestRates #Iran-backedMilitia #GclBroking #Bankbazaar
https://www.businesstoday.in/personal-finance/news/story/gold-and-silver-prices-today-yellow-metal-edges-up-amid-dollar-relief-416671-2024-02-08

2024-02-08 02:24:26

Federal Reserve policymakers signal no rush to cut interest rates
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Federal Reserve policymakers signal no rush to cut interest rates. In December, most Fed policymakers forecast three or more interest-rate cuts this year. U.S. central bankers want to hold off on cutting interest rates until they have more confidence that inflation is headed down to 2%. Last week the Federal Reserve held the policy rate steady in the 5.25%-5.5% range. Fed Chair Jerome Powell said there would likely not be enough data by the next meeting, in March, to feel sure they have made enough progress against inflation to reduce borrowing costs. Boston Fed President Susan Collins believes it will likely become appropriate to begin easing policy restraint later this year. Minneapolis Fed President Neel Kashkari said two to three cuts would seem to be appropriate for him right now. Richmond Fed President Thomas Barkin said he still wasn't quite sold on the idea that progress on inflation will continue. Fed Governor Adriana Kugler is optimistic that progress on inflation will continue with help from both slowing wage growth and from lower rents. Analysts and financial market expectations both point to the Fed's April 30-May 1 meeting as the likely start for rate cuts this year.
#FederalReserve #InterestRates #Inflation #Economy
https://www.businesstoday.in/world/us/story/federal-reserve-policymakers-signal-no-rush-to-cut-interest-rates-416622-2024-02-08

2024-02-05 05:34:07

Gold and silver prices today: Yellow metal dips, down 1.01% YTD
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Gold prices opened on the Multi Commodity Exchange (MCX) on Monday at Rs 62,493 per 10 grams and hit an intraday low of Rs 62,400. In the international market, prices hovered around $2,033.85 per troy ounce. Silver opened at Rs 70,776 per kg and hit an intraday low of Rs 70,776 on the MCX. The price hovered around $22.58 per troy ounce in the international market. Analysts say escalating tensions in the Middle East is providing a strong floor for bullion. Manav Modi, Analyst, Commodity and Currency, MOFSL, said, "Gold prices slipped in the previous session as the dollar and US bond yields jumped after a strong non-farm payrolls report, which created some uncertainty about Fed's monetary policy path this year." Anuj Gupta, Chief of Commodity and Currency at HDFC Securities, said, "Yesterday gold prices corrected sharply by 0.64% and closed at 62562 levels. Silver prices also corrected sharply by 1.40% and closed at 71208 levels. Strength in the dollar index after FOMC stated that they are not in a hurry to cut rates. The dollar index is trading at 8-week high levels. Positive US economic data also support the dollar index." Fed Chair Jerome Powell, in the FOMC meeting, dismissed the idea of lowering interest rates in the spring but voiced confidence that inflation would return to the 2% target. However, later Governor Powell expressed confidence about a rate cut this year, pinning it on either lower inflation or labour data.
https://www.businesstoday.in/personal-finance/news/story/gold-and-silver-prices-today-yellow-metal-dips-down-101-ytd-416154-2024-02-05

2024-02-04 14:51:50

India's semiconductor manufacturing: Has a strong foundation been laid?
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Two years after India brought in a scheme to promote semiconductor manufacturing, it is yet to approve a chip fab application. India's dream of becoming a semiconductor hub isn't new, but hopes soared when the government announced a production-linked incentive scheme worth Rs 76,000 crore for chip and display fabrication units. However, setting up a foundry is an expensive affair, costing between $2 billion and $20 billion, and takes six to eight years to break even. India's nascent chip ecosystem has some distance to go to meet the demands of infrastructure, skilled talent pool, proximity to major clients and markets, lead times and shipping risks, and geopolitical stability. The government is hopeful that once the ecosystem is set up, the floodgates will open. However, there is a dearth of skilled workers in India, and the country lacks manufacturing-grade technology (MGT) companies as technology partners. The infrastructure and operational costs for setting up a semiconductor fab in India are significantly higher than other potential locations like China and Taiwan. The availability of raw materials and the presence of fabless and electronics product companies also pose challenges. India has been aggressive in pitching the country to semiconductor majors and addressing gaps in infrastructure, but it still has a long way to go.
#SemiconductorManufacturing #ChipFab #Production-linkedIncentiveScheme #Foundry #SkilledWorkers #Manufacturing-gradeTechnology #Infrastructure #RawMaterials #FablessCompanies #ElectronicsProductCompanies
https://www.businesstoday.in/magazine/deep-dive/story/indias-semiconductor-manufacturing-has-a-strong-foundation-been-laid-416123-2024-02-04

2024-02-03 04:46:52

'We don’t want Indian economy to be controlled by': Top finmin official on hot money
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India's $1 trillion bond market is expected to receive about $40 billion of inflows on inclusion into JPMorgan Chase & Co.’s emerging index. Finance Secretary TV Somanathan stated that the government will take action to prevent hot money from coming in and to maintain control over the Indian economy. Inflows have already started, with over $6 billion invested in index-eligible debt since the inclusion announcement in September. HSBC Asset Management predicts that India’s bonds will receive $100 billion of inflows in the coming years. Somanathan also criticized rating agencies for not upgrading India's rating despite plans to reduce the budget deficit to 5.1% of GDP.
#IndiaEconomy #HotMoney #BondMarket #Inflows #FinanceSecretary #RatingAgencies #BudgetDeficit
https://www.businesstoday.in/markets/top-story/story/we-dont-want-indian-economy-to-be-controlled-by-top-finmin-official-on-hot-money-416022-2024-02-03

2024-02-01 04:02:48

Interim Budget, Fed outcome among key factors that will guide Dalal Street on D-Day
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Finance Minister Nirmala Sitharaman will present the interim budget on Thursday, February 1, which will mark the final budget of Modi Government 2.0 ahead of the general elections. The US Federal Reserve decided to keep interest rates steady on Wednesday. The domestic market will closely follow the interim budget, especially any proposals related to LTCG, disinvestment plans, capex in infra sector and fiscal discipline. Two key economic indicators were released ahead of the Budget. January witnessed a noteworthy upswing in GST collections, reaching a second all-time high of over Rs 1.72-lakh crore. The fiscal deficit hit 55 per cent of the budget estimate for the April-December period. But the output growth of eight core industries plummeted in December 2023, reaching a 14-month low of 3.8 per cent. Weekly Nifty futures and options contracts will expire today, adding to the likely volatility in the market. Asian shares fell, following a late decline on Wall Street.
#InterimBudget #FedOutcome #DalalStreet
https://www.businesstoday.in/union-budget/share-market/story/interim-budget-fed-outcome-among-key-factors-that-will-guide-dalal-street-on-d-day-415673-2024-02-01

2024-01-17 12:37:04

DavosBrainstorm2024: Gita Gopinath On The Biggest Hurdles China’s Economy Is Facing
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Gita Gopinath, First Deputy Managing Director of the IMF, discusses the challenges facing China's economy at the World Economic Forum in Davos. She highlights two major hurdles: the downward trend in the realty sector and the financial struggles of local governments. Gopinath also mentions the aging population and the need for market-based reforms in China. She notes that China's per-capita income is significantly lower than that of the US, indicating a substantial gap between the two economies.
#Davos #China #Economy #Imf #RealtySector #LocalGovernments #AgingPopulation #Market-basedReforms #Per-capitaIncome #Us
https://www.businesstoday.in/wef-2024/video/davosbrainstorm2024-gita-gopinath-on-the-biggest-hurdles-chinas-economy-is-facing-413770-2024-01-17