POLITICAL SHIFT
Iran's Pezeshkian brings hopes of moderation after routing hardline rival
Iran's newly elected president, moderate Masoud Pezeshkian, aims to ease social restrictions and adopt a pragmatic foreign policy. Pezeshkian, who defeated hardliner Saeed Jalili, is seen as a hopeful figure for peaceful nuclear negotiations and social liberalization. Despite limited power under Supreme Leader Khamenei, Pezeshkian pledges economic revival and increased social freedoms. His victory, supported by the reformist camp, contrasts with the policies of former hardline president Ebrahim Raisi, offering a new direction for Iran's political landscape.
High-priced S&P 500 powers ahead untroubled by political stress
The S&P 500 experienced a 2% increase over the week, marking its most significant gain since April. This rise was driven by data indicating a contraction in the services industries and an increase in the unemployment rate, which bolstered hopes for rate cuts. Ten-year Treasury yields, which had initially surged following President
Keir Starmer: Britain's methodical new leader
Keir Starmer, Britain's new Prime Minister, brings a methodical approach and legal background to his leadership. At 61, he is the oldest to assume the role in decades, despite entering Parliament only nine years ago. Starmer's pragmatic stance contrasts with his predecessor's chaotic tenure, promising to prioritize national service over party politics. While critics question his charisma and consistency, supporters see him as a stable figure amidst turmoil.
NEET-PG 2024 new date announced: Exam to be held on August 11 in two shifts
NEET-PG Exam 2024: The National Board of Examinations in Medical Sciences (NBEMS) has postponed the NEET-PG Entrance Examination to August 11 in two shifts, following a cancellation last month due to alleged test irregularities. The Ministry of Health has constituted a high-level committee of experts to recommend reforms in the examination process, data security protocols, and the functioning of the National Testing Agency (NTA).
Ryanair airline's social media jab at UK PM Rishi Sunak goes viral after election defeat
In the wake of UK Prime Minister Rishi Sunak's electoral defeat to Labour's Keir Starmer, low-cost airline Ryanair seized the moment with a viral social media post. The airline playfully offered Sunak a seat on their flights, sparking widespread amusement online. Sunak conceded defeat graciously, accepting responsibility for his party's loss amidst ongoing challenges.
Britain's Labour on track for landslide victory, exit poll suggests, amid anger with Conservatives
The poll released moments after voting closed indicated that center-left Labour's leader Keir Starmer will be the country's next prime minister. He will face a jaded electorate impatient for change against a gloomy backdrop of economic malaise, mounting distrust in institutions and a fraying social fabric. As thousands of electoral staff tallied millions of ballot papers at counting centers across the country, the Conservatives absorbed the shock of a historic defeat that would leave the depleted party in disarray and likely spark a contest to replace Prime Minister Rishi Sunak as leader.
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Britain’s economy isn’t seeing growth anywhere near India’s 7% GDP rise — this has caused fewer differences between the Conservatives and Labour: Jaideep Prabhu
The UK election landscape is marked by economic uncertainties post-Brexit, minimal policy distinctions between parties, and environmental concerns driving voter engagement. Influential figures like Farage, Johnson, and Sunak shape political narratives, while climate change discussions underscore the urgency for sustainable solutions amidst global warming threats.
Nepali Congress & CPN-UML strike deal to oust PM 'Prachanda'; to form new alliance
Nepali Congress President Sher Bahadur Deuba and Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) chairman and former prime minister K P Sharma Oli reached an understanding on forming a new coalition on Monday midnight, according to former foreign minister Narayan Prakash Saud.
Days after Raisi’s death, Iran votes for a new President
Iranians voted for a new president following the death of Ebrahim Raisi in a helicopter crash, choosing from a tightly controlled group of four candidates loyal to the supreme leader. The election coincides with escalating regional tension due to war between Israel and Iran's allies Hamas in Gaza and Hezbollah in Lebanon, as well as increased Western pressure on Iran over its fast-advancing nuclear programme.
Britain's Rishi Sunak struggles with missteps while trying to lift Conservatives ahead of elections
British Prime Minister Rishi Sunak has faced scrutiny over his political instincts during the general election campaign, which started five weeks ago. His actions have not always reflected the seasoned touch of past leaders like Tony Blair or Boris Johnson, evidenced by some notable campaign missteps.
Asia shares subdued as inflation, politics loom large
Asia shares subdued awaiting U.S. price data for inflation cues. Markets cautious of Japanese intervention as dollar tests 160 yen level. Geopolitical events like U.S. debate and French election add uncertainty.
Global supply chain shift: Has India finally arrived?
Global supply lines are shifting for more resilience. Geopolitical developments put India at an advantage. Will demographic dividend finally create value for India?
Millions will vote on Europe's super Sunday, with surveys suggesting a shift to the right
Voters across 20 European nations are casting their ballots in the EU election super Sunday, with concerns over a potential shift to the political right impacting the bloc's decision-making amidst ongoing conflicts and rising anti-migrant sentiment. Populist parties are expected to make gains, potentially reshaping the European Parliament's dynamics. The elections mark a pivotal moment for the EU's future trajectory and international relationships.
"We are ready to eat humble pie": Prashant Kishor reflects on misjudged 2024 LS election forecast
Election strategist Prashant Kishor acknowledged mistakes in his 2024 Lok Sabha election predictions, admitting the BJP won fewer seats than anticipated. Kishor, who forecasted the BJP would secure around 300 seats, saw the party win 240 seats. Despite the inaccuracies, he highlighted the BJP's continued stronghold in Indian politics and announced he would avoid future numerical predictions. Kishor also noted that rural distress and unemployment remain significant issues.
Lok Sabha results won't force India's budget to make significant policy shifts: Fitch
Fitch Ratings anticipates minimal policy shifts in India post-election losses. The upcoming July budget will detail economic reform plans and fiscal goals for the next five years, crucial for addressing fiscal metrics, reducing debt, potential deviations from capital expenditure commitments, the risk of heightened social spending, progress in judicial reforms at the state level, and reforms in the manufacturing sector.
BJP's win in Thrissur, rise in vote share in other seats mark political shift in Kerala: Analysts
The BJP's notable success in Kerala during the 2024 Lok Sabha polls, particularly in Thrissur, reflects a significant shift in the state's political landscape towards a tripolar scenario. Analysts attribute this change to evolving voter preferences, particularly among minority Christians and OBCs, signaling a transformation in Kerala's traditional political dynamics.
Valuations in PSU capital goods, infra & defence remain expensive: Pratik Gupta
The macro environment is extremely stable, whether it is the fiscal deficit, the current account deficit, inflation, forex reserves, so that is really one of the big attractions for both global as well as domestic investors.
A welfare reset can erode India's valuation premium
India's market valuation may decrease due to potential increase in government spending on social welfare schemes. Nifty 50 index trades at 19 times forward earnings, 20% above its long-term average, while S&P 500 and Taiwanese benchmark index are also highly valued.
Naveen Patnaik: A reluctant politician steps out after two decades in gen shift
After 24 years as Odisha's chief minister, Naveen Patnaik steps down, marking the end of an era. He led the state's transformation from post-cyclone recovery to a hub of aspiration. Unlike many, Patnaik focused on Odisha, not national politics. His tenure saw challenges, including a political coup, which he deftly handled. Known for welfare schemes and development, he made Odisha an industrial hub. While facing recent challenges, his legacy as a regional leader remains strong, influencing politics beyond Odisha.
Will Palturam Nitish Kumar play musical chairs once again? Here is a list of his half a dozen U-turns
Nitish Kumar, Janata Dal United (JDU) chief and Bihar Chief Minister, has drawn attention as the opposition INDIA alliance won 233 seats, just 40 short of a majority. Known for his frequent alliance changes, earning him the nickname 'Paltu Kumar,' his shifting loyalties have significantly impacted Bihar and national politics. His future moves ahead of the 2024 elections are keenly watched.
Modi plans post-election reforms to rival Chinese manufacturing
Indian Prime Minister Narendra Modi is planning business-friendly measures if he secures a third term, aiming to boost domestic manufacturing by easing labor regulations, offering subsidies, and reducing import taxes. Modi's vision includes creating industrial zones to attract global firms, but challenges remain with restrictive labor laws, land acquisition, and high import tariffs. His reelection campaign emphasizes economic development and positioning India as a manufacturing hub.
Important for India to have stable leadership as world will witness very stormy churn: EAM Jaishankar
India's External Affairs Minister, S Jaishankar, has warned that the world will face a "very, very stormy" churn due to conflicts, power shifts, and sharpening competition in the coming decade. Jaishankar, a former ambassador to China and the United States, highlighted the declining influence of the United States, the conflict in Ukraine, the fighting in Gaza, attacks in the Red Sea, tensions in the South China Sea, the challenge of terrorism in different geographies, and the advent of new technologies as the drivers of the "churn".
Haryana's Political Chessboard: Nayab Saini government's battle for survival amidst shifting alliances
The Haryana government, led by Chief Minister Nayab Singh Saini, is in crisis as three independent MLAs withdraw their support, following the BJP's split with the Jannayak Janata Party (JJP) and Saini's appointment. The Congress, with 31 seats, gains momentum, challenging the BJP's 40 seats. The JJP's support is uncertain, with Dushyant Chautala facing defections. With 88 members in the assembly, the government is supported by only 43 MLAs, prompting calls for the governor's intervention and speculation about a floor test. Governor Bandaru Dattatreya's role is crucial, given his background as a former BJP leader.
Important for India to have stable leadership as world will witness stormy churn: EAM Jaishankar
In an exclusive interview, External Affairs Minister S Jaishankar warned of a turbulent global landscape in the coming decade, citing conflicts, power shifts, and heightened competition. He emphasized the need for India to have stable leadership amidst various challenges such as declining US influence, conflicts in different regions, and the impact of new technologies.
US overtakes China as Germany's top trading partner
The United States surpassed China as Germany's top trading partner in Q1, with trade totaling 63 billion euros, compared to China's just under 60 billion euros. This shift is attributed to the robust U.S. economy, declining trade with China, and structural changes in production. Germany aims to reduce dependence on China but faces uncertainties with potential policy changes.
Lok Sabha Elections Phase 3: Shifting winds? Why is traditional wave missing from sugarcane fields to potato farms in West UP?
In western Uttar Pradesh, from the serene banks of the Ganga to the bustling fields of Baghpat and Agra, a notable political shift is underway. Unlike past elections dominated by Modi's aura, this time, local issues and candidates hold sway. Residents express diverse concerns, indicating a departure from traditional voting patterns. Amidst these changes, the influence of mainstream media dwindles, signaling a new era in Uttar Pradesh politics.
Bengal's political landscape shifts from student to dynastic politics in this Lok Sabha elections
Bengal, known for vibrant student politics, is now witnessing influential political families taking the spotlight. "This is a new trend in Bengal politics, shifting from class-based to dynasty politics. Never before have so many candidates hailed from political lineages," said political scientist Maidul Islam from the Centre for Studies in Social Sciences, as reported by PTI.
Global fertility rates to decline, shifting population burden to low-income countries
The study reported in The Lancet projects 155 of 204 countries and territories worldwide, or 76%, will have fertility rates below population replacement levels by 2050. By 2100, that is expected to rise to 198, or 97%, researchers estimated.
Election volatility, shifts happen
In election years, market volatility in India is influenced by expectations of stable governments and policy continuity. Decisive electoral verdicts often lead to a bullish market, indicating a 'business as usual' scenario. However, the impact of political stability on market volatility is weaker compared to macroeconomic factors and the global business cycle. Changes in government can lead to volatility, depending on the strength of the new government and its impact on policy certainty. India's growth, driven by government-led investment, combined with political stability, is expected to deliver strong equity returns, barring any major electoral upsets.
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