GLOBAL SITUATIONS
Take nation into confidence on border situation at LAC: Mallikarjun Kharge to government
Congress president Mallikarjun Kharge reiterated his party's demand for the government to update the nation on the border situation with China. He citied reports of China's military buildup near Pangong Lake in Ladakh. Kharge criticised the government for alleged inaction, claiming losses of Indian territory and a lack of response to Chinese aggression. The standoff between Indian and Chinese forces in Ladakh since May 2020 remains unresolved despite multiple talks.
Pakistan's gender gap index hits rock bottom, second worst globally
Women's rights activists have issued impassioned pleas for both state and societal commitment to address gender disparities effectively.society and the government.
India a key ally of US in rivalry with China: US ambassador to India
America is investing locally and joining hands with allies such as India to ensure a free and open Indo-Pacific region while competing with China, US ambassador to India Eric Garcetti said.
Why disconnecting global trade from China is so hard
There are several major factors that create a natural limit to how much of a supply chain can be exfiltrated from China, even if sweeteners like free land, tax breaks and cheap utilities are on offer.
Hapag-Lloyd CEO sees solid shipping demand driving up freight rates
The demand trend, combined with the Red Sea re-routings and port congestion in Asia, have counteracted what could have turned into a looming oversupply picture in the world fleet this year, said Rolf Habben Jansen.
China’s plastics boom is set to create another trade headache
China's petrochemical sector grapples with overcapacity as polyester products exports increase, straining global trade relations.
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Broking stocks fall up to 10% after SEBI calls for uniform charges
SEBI instructed MIIs to ensure uniform charges benefiting end clients, with changes effective from October 1, 2024. The circular aims to rectify incorrect disclosures, especially regarding charges collected from end clients by MIIs. MIIs are directed to redesign charge structures and communicate with SEBI for compliance.
MNCs in India fret as US yet to ratify global tax deal
Tax experts say the international tax treaty, which Republicans strongly oppose and requires a two-thirds majority in the US Senate to pass, faces significant challenges. Without US ratification, meeting the OECD tax deal's implementation conditions to reshape the global tax system becomes extremely difficult. The international tax treaty's implementation needs acceptance by 30 jurisdictions and the inclusion of the headquarters jurisdictions of at least 60% of the most profitable multinationals; given that many of these businesses are located in the United States, US participation is critical to attaining this level.
Drought gripping Morocco is bad omen for global food supplies
Facing severe droughts, Morocco's farming sector struggles with plummeting wheat yields, impacting fruit and vegetable exports and widening income disparities.
"It's all happening again": The supply chain is under strain
The intensifying upheaval in shipping is prompting carriers to lift rates while raising the specter of waterborne gridlock that could again threaten retailers with product shortages during the make-or-break holiday shopping season. The disruption could also exacerbate inflation, a source of economic anxiety animating the U.S. presidential election.
Euro 2024 sees new twist: No more 'Hand of God' situation as new 'robot ball' curbs cheating
Expect minimal cheating around the penalty box as the Euro organizers have introduced a new state-of-the-art robot ball, that will be used to detect any form of cheating during the games, especially in high-intensity situations.
S Jaishankar: A diplomat for all seasons and all situations
Dr Subrahmanyam Jaishankar, known for his realistic view of foreign policy, has played a key role in defending India's position on the Russia-Ukraine conflict and advancing India's interests with the Quad to balance expansionist tendencies in the Indo-Pacific region.
See policy continuity even with coalition government: Gokul Laroia, CEO, Morgan Stanley Asia
Morgan Stanley's Asia CEO Gokul Laroia discussed Indian elections, markets, and risks with Nishanth Vasudevan before an investor conference.
Dollar or other currencies? How the US is daring the world to find a dollar alternative
The United States is challenging its own foundations as the world's reserve currency with attacks on the legal system following Donald Trump's conviction. Despite growing consternation, no credible alternative has emerged. The dollar's dominance stems from U.S. democratic principles, but threats loom as sanctions and political turmoil test its credibility.
Housing finance companies to do well over the next 2-3 years: Madhu Kela
Even pre-election, I had an interaction with media and I said that I am very constructive on the overall financial sector, so I remain constructive. I think some of the corporate banks are also available at very reasonable valuation compared to their historical past, hardly any return is being made in the last four-five years, I would argue it is a good thing to have them in your portfolio. However as you rightly said within the whole sector the biggest opportunity might be in the housing finance sector basically because the companies are available at a very reasonable valuation.
How the Indian GCC boom is lighting up prospects of IT firms
With India emerging as a hub for global capability centres (GCCs), IT services companies are cashing in, setting up projects, looking for partnership opportunities, and even acquiring such centres.
Will RBI start cutting interest rates from October? Dr Samiran Chakraborty answers
In Citi's house view, we think that the Fed rate cut will start early, so we have put our first RBI rate cut in October, to some extent also factoring that in that if Fed moves earlier, then RBI gets the scope to move as well.
Technology-enabled professional services firm Sikich Secures $250 Million minority growth investment from Bain Capital
Sikich LLC received a $250 million investment from Bain Capital to accelerate growth and maintain professional services leadership under CEO Christopher Geier.
UN raises India's 2024 growth forecast to 6.9%
The revision by the UN follows similar moves by other multilateral agencies following India's strong economic performance last fiscal.
UN revises India's 2024 growth forecast to 6.9%
“India’s economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025,29 mainly driven by strong public investment and resilient private consumption,” the UN Department of Economic and Social Affairs said.
UN upgrades India's 2024 growth forecast to 6.9% from 6.2%
The World Economic Situation and Prospects as of mid-2024, released Thursday, said, "India's economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025, mainly driven by strong public investment and resilient private consumption. Although subdued external demand will continue to weigh on merchandise export growth, pharmaceuticals and chemicals exports are expected to expand strongly."
Mother's Day gift: Can credit card be a good gift to your mother especially when she is not earning?
Mother's day: This mother's day give her the gift of financial freedom by by taking out a credit card and giving to her. A credit card will be useful for her in many situations like in case of emergencies, household shopping, etc. A credit card will also help a non-working mother by giving her better autonomy.
India's FY24 fiscal gap may be slightly better than revised estimates: Official
The central government's fiscal deficit for FY24 is expected to be slightly better than revised estimates, thanks to higher-than-anticipated revenue receipts. Despite slower nominal growth, deficit-to-GDP ratio is estimated to improve. Direct tax revenue exceeded expectations, and expenditure remains on track. The government is prepared to manage potential capital inflows from JPMorgan's inclusion of Indian government bonds in its index.
Spacetech startup Digantara chosen for Australia-backed debris management project
Digantara, in collaboration with various partners, is part of the Maitri mission to manage space debris. The company aims to enhance space traffic management and monitoring of Resident Space Objects in Low Earth Orbit.
Spacetech startup Digantara unveils 25,000-sq ft facility in Bengaluru
The new facility, spanning 25,000 square feet in Hebbal, Bengaluru, serves as a satellite assembly, integration and testing (AIT) facility. The Bengaluru-based startup is currently planning to launch a constellation of space-based space surveillance satellites.
Ready to support Pakistan to improve its economic situation: IMF
IMF is ready to aid Pakistan in crucial reforms for economic growth. Jihad Azour stresses fiscal work, energy sector reform, and structural changes. Pakistan seeks to enhance revenue, reduce deficits, and improve economic stability. The last review was successful and will be put forward to the board, which will end a programme that helped Pakistan address acute economic imbalances and maintain its economic stabilities, the IMF official hoped.
India to remain global growth driver in foreseeable future: IMF executive director
Krishnamurthy V Subramaniam, Executive Director of the IMF, predicts India will remain a key driver of global growth, citing consistent 7%+ growth post-COVID. He forecasts 8% growth in Q4, considering the global economic situation. The IMF revised India's 2024 growth projection to 7.8%. Subramaniam highlights India's digital infrastructure as a model for the Global South, emphasizing its role as a public good. He dismisses critics of India's GDP growth, citing statistical experts' trust in the numbers. Subramaniam also addresses Thomas Piketty's report on income inequality, presenting contrasting data.
ETMarkets Fund Manager Talk: Why this asset manager doesn’t see a “doom and gloom” situation for mid & smallcaps?
Sonam Srivastava says investors should adopt a cautious, value-oriented approach post-stress test results. The emphasis is on strong fundamentals, avoiding overheated valuations, and closely monitoring holdings for potential risks can benefit stability within the mid- and small-cap segments. She says: "Investors should carefully analyze the financial health and future prospects of companies inthis segment before making investment decisions."
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