FEDERAL AGENCY FOR TECHNICAL RELIEF
Budget 2024: Export tax relief, and import duty cut on gold among top demands from industry
The gems and jewellery sector eagerly awaits Union Budget 2024, anticipating tax reductions on exports to enhance demand for Indian-made gold and diamond jewellery. Industry leaders seek a decrease in export taxes from 15% to 10% to boost competitiveness globally.
With launch of new rocket Ariane 6, Europe rejoins the space race
ESA's Ariane 6 launch from French Guiana, hailed by Lucía Linares and staff, signifies Europe's restored space access. Built by ArianeGroup, overcoming delays and the Vega-C grounding, it competes globally against SpaceX’s affordable Falcon 9. It has 30 planned missions, ensuring European priorities in space exploration are maintained.
Sensex rises over 200 pts, Nifty above 24,350 in hopes of dovish stance from Fed
Indian indices rose as markets expected dovish signals from U.S. Fed Chair Powell. Sensex up 223 points to 80,184, Nifty50 up 59 points. Key gainers included Maruti Suzuki, M&M, Adani Ports, while Tech Mahindra, JSW Steel fell. Soft inflation increased odds of U.S. rate cut to 74%. Century Textiles rose 4%. Budget, Q1 results closely watched.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
The Nifty's upward trajectory persists, with any potential dips or consolidation presenting buying opportunities, according to the prevailing bullish pattern.
US Supreme Court rejects federal ban on gun 'bump stocks'
The rule was imposed in 2019 by Trump's administration after the devices were used during a 2017 mass shooting that killed 58 people at a Las Vegas country music festival. The policy was defended in court by Democratic President Joe Biden's administration.
FOMC, FII action among 10 factors to dictate D-Street mood this week
The Nifty index closed the week with a 3.6% increase amidst two significant occurrences: the highly anticipated election results and the monetary policy decision by the Reserve Bank of India (RBI). As trading resumes on Monday, a range of significant domestic and international events scheduled throughout the holiday-shortened week are expected to influence market movements.
Rajkot game zone fire: Four children among 27 killed; SIT probe ordered into incident
Rescue operations are underway at the affected TRP game zone and officials feared the count of casualties may go up as several children were present at the spot due to the ongoing summer vacation and weekend. The blaze erupted at around 5 pm at a fibre dome for gaming activities and several persons including children were playing games when the blaze erupted, officials said.
U.S. regulators reconsider capital hike for big banks, WSJ reports
The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce a nearly 20% mandated increase in capital for the country's biggest banks following lobbying efforts by industry CEOs like JPMorgan Chase's Jamie Dimon, the Wall Street Journal reported on Sunday.
Xi Jinping, Vladimir Putin hold talks in Beijing to discuss future strategic ties
Russian President Vladimir Putin visited China to hold talks with China President Xi Jinping. The two leaders discussed about the Ukraine war and the increasing pressure on Beijing from the US and EU for supporting Russia. This is Putin's first foreign visit after being elected for the fifth term. Russia's large delegation, including five deputy prime ministers and other senior officials, is expected to discus trade and economic cooperation.
Oil prices slide 1% to 11-week low on weaker IEA 2024 demand forecast
Crude prices slid about 1% to an 11-week low on Wednesday after data from the International Energy Agency (IEA) showed oil demand in developed countries likely would flag this year.
Nevermind those EVs — oil demand keeps growing
Oil demand concerns persist as Brent crude prices have been fluctuating. Gasoline consumption are rising despite push for electric vehicles.
India will soon have solar power waste to fill 720 Olympic-size swimming pools. It has to urgently find solutions.
The country is betting big on solar energy — and rightfully so. But it is not giving equal importance on managing or recycling the waste that would be generated.
Election, Q4 earnings, and FII flows among 10 factors that will steer D-Street this week
Over 530 BSE-listed companies will announce their March quarter earnings this week, including DLF, GIC Housing Finance, INOX India, Jindal Steel & Power, Varun Beverages, Zomato, Bharti Airtel, Bharti Hexacom and Colgate-Palmolive (India).
Nifty Bank breaks below 50-DMA; next big support is placed at 47,000: Experts
The Nifty Bank closed below the 50-DMA placed at 47,606, suggesting that there could be some selling pressure in the coming week. The Nifty Bank opened slightly higher and built on gains to reclaim 47,800 levels, but faced selling pressure in the second half of the trade.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Nifty ended about 39 points lower on Tuesday to form a Shooting Star pattern on the daily chart to indicate strong possibility of further weakness from current levels.
Ahead of Market: 10 things that will decide D-Street action on Thursday
The Nifty 50 settled 0.08% lower at 22,434, while Sensex shed 0.04% to 73,877. Nifty 50 formed a small positive candle on the daily chart with a gap down opening and with an upper shadow. Technically this pattern indicates broader range movement in the market near all-time highs, said Nagaraj Shetti, senior technical research analyst at HDFC Securities. The MACD showed bearish signs on the counters of P&G, and Caplin Point among others.
No relief for Kejriwal: Delhi HC refuses to interfere with Delhi CM's ED arrest, next hearing set for April 3
Justice Swarana Kanta Sharma has set the next date for the hearing on April 3, with the central agency required to file a response the day before. The Justice said that the ED has to be granted an opportunity to file a reply, as an opportunity for effective representation.
Small federal agency crafts standards for making AI safe, secure and trustworthy
The Biden administration has tasked the National Institute of Standards and Technology (NIST) with setting standards for AI safety. Elham Tabassi, NIST's chief AI advisor, is leading the agency's AI efforts. NIST is working with a team of more than a dozen people and is expanding. NIST is also exploring options for a competitive process to support cooperative research opportunities through a new AI safety institute. The institute's consortium will have industry involvement, and NIST has posted a template for the consortium agreement on its website. NIST's role is to advance measurement science and standards and help industry develop technically sound and scientifically valid standards for AI.
Germany to issue emergency visas to Turkish, Syrian earthquake victims
More than 28,000 people were killed in the devastating earthquake that rocked Turkey and Syria on Monday. It reached 28,192 on Saturday (local time), with Turkey's death toll climbing to 24,617, Turkish Vice President Fuat Oktay said in a news conference. In Syria, the total number of confirmed deaths stands at 3,575, including 2,167 in rebel-held areas in the northwest, according to the White Helmets civil defense group.
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