SPURS
Rise of Telegram-friendly chain spurs talk of crypto super app
The Open Network (TON) blockchain has seized the crypto spotlight even amid a broader rally in the sector that saw Bitcoin hit new heights before a recent selloff.
Lot of time for me to sleep, for now I want live every second of this win: Rohit Sharma
Rohit Sharma, holding the T20 World Cup trophy like a new-born, walked to the beach for a photo shoot, reflecting on India's first ICC title in 11 years. Overwhelmed with emotions, Rohit described the win as surreal, celebrating with teammates all night. Despite his lack of sleep, he cherished every moment of the victory. Rohit's instinctive tribute to the pitch, putting a speck of soil in his mouth, symbolized his gratitude for the historic win. He expressed relief and joy, emphasizing the hard work that led to this triumph.
Maharashtra's economic survey 2023-24: Shinde government spurs robust growth and recovery
The economic survey of Maharashtra for 2023-24 revealed a positive economic outlook under the Shinde government compared to the previous Maha Vikas Aghadi administration. The survey showcased growth in GSDP, FDI, and entrepreneurship. Maharashtra's GSDP growth outpaces Gujarat, FDI attraction has surged, and entrepreneurship is thriving with the highest number of startups in India. The survey also highlighted progress in social welfare, agriculture, financial assistance to farmers, infrastructure development, and increased allocation for women's education.
Landmark Supreme Court ruling could spur more climate cases in India: Report
Citing the case of Citing the case of M K Ranjitsinh and Others vs. Union of India, the report by the London School of Economics' Grantham Research Institute on Climate Change and the Environment said that climate cases in the Global South are increasing and gaining more attention. M K Ranjitsinh and Others vs. Union of India, the report by the London School of Economics' Grantham Research Institute on Climate Change and the Environment said that climate cases in the Global South are increasing and gaining more attention.
100-Day action plan: DPIIT looking to start up funding & spur manufacturing push
The Department for Promotion of Industry and Internal Trade (DPIIT) in India is planning to focus on easing early-stage funding for startups, reducing compliance burdens, and reducing logistics costs as part of its 100-day action plan. The plan includes a policy for deep-tech startups, reforms for ease of doing business, and a public-private partnership model of governance.
Ready to kill it: Mbappe, France on a mission as favourites begin Euro 2024 campaign
Kylian Mbappe and France are set to begin their Euro 2024 campaign against Austria, having experienced disappointment in recent World Cup finals. France has been European champions twice, most recently in 2000 when a 31-year-old Deschamps was captain. Mbappe missed the decisive kick in the Euros, and he is now hoping to make amends by leading his country to glory in Germany.
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Ambuja Cement's acquisition of Penna will spur sector consolidation: Ronald Siyoni
On the demand front, we have seen the cement demand has improved during May, while the companies have also started to initiate price hikes during May. So, there have been some positive developments.
With Congress at 99, has Rahul Gandhi earned his spurs?
The Lok Sabha elections saw BJP fall below the majority mark, with Congress leader Rahul Gandhi emerging as the top opposition leader. Despite BJP's ability to form a government, Rahul's strategic alliances and doubled Congress seats showcase his growing influence.
Any further correction in India can spur FII flows: Chris Wood
A lot of the recovery has been the high end of the market. So, the key issue for this real estate market right now is that will the recovery broaden out and the other issue is will there be policy measures to promote the more affordable end of the housing market, that seems to me a possibility.
No need for speed: Luxury cars' involvement in accidents spur worries
Speeding luxury cars have caused several fatal accidents across India, highlighting the dangers of reckless driving. Recent incidents in Pune, Noida, and Bengaluru involved high-end vehicles like Porsche, BMW, and Audi, resulting in deaths and injuries. The rise in road accidents underscores the need for stricter licensing regulations and pedestrian-friendly infrastructure.
Dollar ascendant as surging US yields spur demand for safe havens
The dollar surged to a two-week high against major peers on Thursday due to a rout in Treasuries, boosting its appeal with higher U.S. yields and demand for safe haven assets.
View: Overturn cultural practices and dogmas to spur our companies to spend on R&D
WhatsApp showcases tales of ancient glory, while global reports highlight India's rankings in hunger, press freedom, and sustainable development. India ranks 40th on the GII 2023, above all BRICS nations except China.
Telecom infrastructure sharing may spur gear sharing too, experts say
The current scenario could change with Telecom Regulatory Authority of India (Trai) recommending creating a separate category under the unified license for Digital Connectivity Infrastructure Provider (DCIP) authorisation. "...the proposed DCIP authorisation holder may create both active and passive digital connectivity infrastructure and share it with other TSPs and has to pay no license fee to the government," Trai said in its recommendations last month.
Conversational commerce powered by Gen AI to spur next wave of growth for businesses: Bain & Company - Meta Report
Sandhya Devanathan, Head and VP, Meta in India, said the company sees business messaging as a key growth driver of its business in India. “We see it in terms of consumer behavior on our platforms, in terms of people using messaging to communicate with businesses, and we see that given the size of the WhatsApp platform and what users are asking for. 60% of the users of WhatsApp in India message a business every week,” she said.
China’s $8.5 billion in steel spurs Latin America toward tariffs
Mexico, Chile, and Brazil have increased duties on steel products from China. In some cases, the duties have more than doubled over the past few weeks. Colombia may also be planning to do the same.
Back-to-school season spurs surge in retail and e-commerce sales
As students gear up for the new academic year, retailers and stationery companies prepare for a surge in demand during the April to June peak back-to-school shopping period. This significantly boosts sales for brands like ITC and DOMS, laptop manufacturers such as Dell, Lenovo, and Samsung, and retailers like Reliance Retail's Smart Bazaar stores, with sales increasing fivefold according to industry experts.
Saudi King Salman’s health, Iran President Raisi’s death spur succession bets
The death of Iranian President Ebrahim Raisi has not significantly altered the regime's trajectory, with little hope for political reform or reduced hostility towards the US and its allies, according to Western officials. The focus has shifted to succession planning, especially given the aging Supreme Leader Ayatollah Ali Khamenei. However, Iran's detente with Saudi Arabia is expected to continue, as is its support for regional proxies. In Saudi Arabia, Crown Prince Mohammed bin Salman's ascension to the throne is expected to maintain continuity in oil policy and regional relations.
UK graduate visa crackdown may spur a revolt in government ranks
PM Rishi Sunak faces opposition from Cabinet members and Foreign Secretary David Cameron, University, and business leaders, including UUK and MAC Chair Professor Brian Bell, over potential restrictions to the UK's Graduate Route visa, impacting Indian students and UK universities.
China expected to announce new measures to fix property crisis, spur growth
China's housing prices dropped in the first four months of the year, while factory output increased by almost 7%. This has lead to officials planning new measures to boost the struggling property industry. The National Bureau of Statistics noted insufficient domestic demand. The State Council announced a news conference to address the property market challenges, including defaults by developers.
Sensex jumps 350 points, Nifty tops 22,300 as US inflation data spurs rate cut hopes
Indian benchmark indices, BSE Sensex and Nifty50, rose on positive global cues after US consumer inflation data. Nifty IT index surged 1.6%, led by Mphasis, Tech Mahindra, and Infosys. Nifty Pharma lagged, while Jindal Stainless fell 10% on softer steel prices. Markets expect two rate cuts in 2024, based on CMEGroup's FedWatch tool.
IPL washout spurs potential insurance claims of Rs 50-60 crore
The rain-induced washout of the Gujarat Titans versus Kolkata Knight Riders match on Monday has sparked concerns about revenue losses, leading sponsors and franchise owners to contemplate submitting claims to insurance providers. For this year's Indian Premier League (IPL), insurance coverage totaling Rs. 10,000 crore was procured from insurers such as New India Assurance, National Insurance Company, and United Insurance.
Manchester City eyeing return to top of table with win at Spurs
Manchester City aims to lead the Premier League over Tottenham Hotspur. Erling Haaland's form stands out, while Richarlison is injured. Heung-Min Son's performance declines. Rivalry between Celtic and Rangers noted.
Technological factors can stall or spur adoption of EV 2-wheelers
The technological factors affecting electric two-wheelers (EV 2Ws) are integral to their development and widespread adoption in India, say EV industry stakeholders.
Gold edges higher as Middle East tensions spur demand
Spot gold was up 0.3% at $2,350.59 per ounce, as of 0056 GMT. Bullion hit an all-time high of 2,431.29 on Friday.
Treasury prices rise as geopolitical risks, poor bank results spur buying
Treasury prices rose due to revised Federal Reserve rate cut expectations from hot inflation data and geopolitical concerns. Boston Fed President Susan Collins mentioned eyeing two rate cuts this year amid uncertainties.
Nvidia's dizzying rally spurs rush into AI-themed ETFs
The funds run the gamut from those offering a bouquet of the biggest AI winners to more esoteric themes such as robotics and sound generation. All told, the universe of AI-themed ETFs traded in the United States has soared to $6.88 billion as of the end of February from $2.55 billion a year earlier, Morningstar data showed.
Indian banks halt silver imports as duty differential spurs private trade
India's banks have stopped silver imports after private traders bought large volumes of the precious metal from the United Arab Emirates to benefit from a lower duty. The Comprehensive Economic Partnership Agreement signed between India and the UAE in 2022 allows private traders to import silver through the India International Bullion Exchange (IIBX) at a 9% duty and an extra 3% tax for value addition.
India’s rising valuations spur foreign firms to sell holdings
At least seven firms including US home appliance giant Whirlpool Corp. and Singapore Telecommunications Ltd., have reduced holdings in their local units since June, data compiled by Bloomberg show. British American Tobacco Plc. said Monday it’s preparing to sell a part of its stake in partner ITC Ltd.
Goa's Mopa Airport spurs realty activity
"Not only from cities in India, Indians living in other countries are also very keen to invest in a holiday home. The airport has led to development in areas where large land is available and developers can plan multiple facilities," said Aditya Kushwaha, CEO and director, Axis Ecorp, which has Axis Blues, Axis Yog Villas and Axis Lake City projects in various stages of development.
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