SUMMER HIKING SEASON
Tourists keep disappearing in Greece. What to know as death toll from heatwave rises
Deadly heatwaves are scorching cities on four continents, highlighting the severe impacts of climate change. Record-breaking temperatures could make this summer the hottest in 2,000 years, surpassing last year's record.
Oil prices slip as rate hike worries come into focus
Crude oil futures slid on Friday due to higher interest rates in Asia and the U.S., with Brent futures at $85.60 and U.S. crude at $81.20. Japan's core consumer prices rose by 2.5% from last year.
Telcos likely to see modest revenue growth in June Qtr
Analysts expect a modest 2.5-3% sequential increase in revenue growth for the telecom sector in the June quarter. Despite higher data usage during the IPL cricket tournament and increased demand for international roaming packs during the summer holiday season, revenue growth is expected to be limited. This is due to many mobile users still paying lower 4G rates even after opting for 5G packs, and most subscribers having large amounts of unused data, reducing the need for costlier mobile broadband plans.
That AC or fridge you were planning to buy just got more expensive
Consumers in Kolkata will experience 2-5% price hikes on electrical goods due to factors like high inflation rates in copper and aluminium, freight cost increases, Red Sea crisis, and rupee depreciation.
Swiftly Soaring: Taylor Swift's Eras tour sparks surge in European air travel for upcoming summer season
Taylor Swift's Eras tour is significantly impacting travel and the economy, causing a 25% increase in demand for flights to European destinations like Lisbon and Madrid. United Airlines and Delta plan to fly around three million passengers over Memorial Day weekend, a 5% rise from last year. Tourism is expected to surge as American fans flock to cheaper European concerts, with ticket prices exceeding $1,000 due to high demand and strict resale rules. Milan saw a 45% rise in passengers for Swift's July concert debut.
Japan says you'll need to make prior bookings to hike to Mt Fuji, pay a fee
Japanese authorities have introduced an online booking system for Mount Fuji's Yoshida Trail to manage overtourism and address safety and environmental concerns amid a surge in summer visitors. The system will limit daily entries to 4,000 hikers at $13 each, ensuring access and planning for the iconic volcano's ascent.
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10 Best Arm Sleeves for women sun protection (2024)
Arm sleeves for women provide excellent sun protection, shielding the arms from harmful UV rays while allowing for comfort and breathability. Designed with lightweight and moisture-wicking fabrics, these sleeves offer UPF (Ultraviolet Protection Factor) coverage, effectively blocking out the sun's rays. They are ideal for outdoor activities such as hiking, running, cycling, or gardening, where prolonged sun exposure is common. Arm sleeves come in various styles, colors, and lengths, allowing women to choose options that suit their preferences and activities. With their versatility and effectiveness, arm sleeves are an essential accessory for maintaining skin health and preventing sun damage during outdoor adventures.
What heat waves spell for India: Impact on RBI, biz, food & GDP
Weather experts warn of increasing heat waves in India, impacting daily life, business, and economy. With hotter temperatures forecasted, power demand is expected to rise, putting pressure on power generation and potentially leading to power cuts. Heat waves can also disrupt food production, impacting prices and rural demand, affecting GDP growth.
45-50% growth in Amul’s summer product categories likely this year: MD
Amul India navigates cocoa price surge impact by passing on costs to consumers. However, as Amul is still a value for money brand, it would pinch the consumers much. Partnerships with CAMPCO aid cocoa bean producers. Expansion into the US fresh milk market and focus on ice cream and beverage SKUs drive growth expectations of 45-50%.
Embracing spring: Weather's impact on Indian wedding celebrations
The demand for weddings in India prompts discussions on extending the season, creating more venues, and using innovative locations. Building infrastructure and involving influencers can support this initiative, benefiting the tourism industry and local businesses.
Will the summer temperatures make them go higher this time? 5 stocks whose fortunes are dependent on how much you sweat
How monsoons pans out have a strong bearing on the overall economic numbers of the companies. However there are companies whose fortunes are linked with what happens before monsoons, that is summer season. Given the fact that we are about to see the start of the season, first forecasts from IMD about how the summer season is likely to pan out have started to come in and IMD is indicating that average temperatures may be higher this year.While the white good companies in general tend to see a bump up in their sales, but there are a select few whose large part of the sales and the bottomline contributions comes from air conditioners or air coolers part of the business. For these companies, two things are very important. First is what is the average length of the summer season and secondly what average temperature during those months. Last year these companies underperformed as the summer season got late. But as the street is always ahead in discounting what will happen in future, these stocks should be on the watch list as the run up in stock will happen much before you feel the summer heat.
Repo rate hold also aimed at improving transmission: Experts
We expect that while liquidity deficits could improve over the coming weeks with a likely rise in government spending, the rise in currency in circulation ahead of the general elections and seasonal factors (tax outflows etc.) could broadly keep liquidity conditions tight over the coming month
Beer in Karnataka may get costlier from next month. Check all details here
The Congress government plans to increase duty on beer by 10 percentage points to boost demand for Indian-Made liquor, which is a significant revenue-earner for the state exchequer. This decision comes a month before the state budget and is expected to raise the price of a 650ml beer bottle by Rs 8 to Rs 10. The government aims to bolster the sales of Indian-Made liquor, which have been declining, by making beer more expensive. However, some argue that reducing Indian-Made liquor prices would stimulate revenue.
Sunny summer sales forecast, hopes of heavy poll-time spending drive consumer companies to go big on production
Private weather forecaster Skymet has predicted a normal monsoon this year with the ongoing El Nino, which dragged monsoon rains in 2023 to below-normal levels, expected to get softened. Also, the monsoon-supporting La Nina, triggered by the cooling of the Pacific Ocean, is likely to evolve during the latter half of the season, it said.
History gets more pricey: Paris's Louvre museum to hike entrance fees by 29% in 2024
The Louvre, which houses the Mona Lisa and is the world's most visited museum, said in a statement on Friday that its entrance fee would go up in January to 22 euros ($23.70) from 17 euros.
Festive high for online lending; slowdown for IT majors
The ongoing festive season is proving to be a shot in the arm for the digital lending industry. This and more in today's ETtech Morning Dispatch.
Wall St Week Ahead: Fed wary investors eye mounting risks to US stock rally
Market participants are also grappling with several potential threats to U.S. economic growth, whose resilience this year has helped push stocks higher. Foremost is the challenge presented by higher rates, if the Fed follows through on its pledge to keep borrowing costs elevated as it seeks to decisively turn the tide on inflation.
5 world market themes for the week ahead
Here's a look at the week ahead in markets from Ira Iosebashvili in New York, Li Gu in Shanghai, Yoruk Bahceli in Amsterdam, Jorgelina do Rosario and Marc Jones in London and Rachel Savage in Johannesburg.
LIC portfolio: Stocks that the India bull bought & sold this summer
Market data shows LIC ownership went up in at least 40 stocks and trimmed holdings in 75 other counters. LIC's stake rose 409 bps in fertiliser-maker Kothari Industrial Corporation, 301 bps in Tata Chemicals, 240 bps in SAIL, 173 bps in Bata India and 164 bps in IEX.
ECB to hike rates again but keep options open for September
The European Central Bank will raise interest rates for the ninth time in a row on Thursday and keep the door open to further moves as persistent inflation and growing evidence of an economic downturn pull policymakers in opposing directions. Fighting off a historic surge in prices, the ECB has lifted borrowing costs by 4 percentage points since last July and essentially promised another quarter-point increase this month, making the outcome of Thursday's meeting a near-certainty.
Saudi Arabia and Russia are cutting oil supply again in bid to boost prices
Saudi Arabia and Russia have announced that they will extend cuts to their oil production in order to support prices. The Saudi Energy Ministry will maintain its output at 9 million barrels per day, while Russia will reduce production by an additional 500,000 barrels a day in August. These voluntary cuts are in addition to earlier reductions agreed to by the OPEC oil cartel and allied producers. Despite the cuts, oil prices have not seen a significant increase, which has provided relief for consumers. The uncertain outlook for fuel demand amid economic weakness and travel restrictions remains a concern for oil producers.
Going to Europe this summer? You're not alone.
Sicily isn't the only European destination bustling with tourists ahead of the peak summer season in July and August. After three years of pandemic restrictions, travelers are flocking to Europe in record numbers, despite high airfares, limited accommodations, sweltering heat and crowded sites.
India's cabinet raises MSP for summer-sown crops including cotton
Cabinet approves increased MSP for Kharif Crops for Marketing Season 2023-24; move to ensure remunerative prices to growers for their produce and to encourage crop diversification
Fare turbulence: Summer travel plans scupper in vacuum left by Go First
Taking cognisance of the surge in airfares, Union aviation minister Jyotiraditya Scindia has put together a group to study the spikes. Scindia said there had been a pullback on the 315 routes Go First was operating. "So there is excess demand on those routes, though we have given those routes to other airlines,” he said on Thursday. Airfares are market driven and are neither established nor regulated by the government.
Dented by lack of summer! 3 white good stocks where analysts are very bullish, 2 not so bullish
In the last three years, white goods companies have been hit by headwinds, including covid lockdown and supply chain disruptions. In 2023, another headwind, a delayed summer in part of northern India. However, is all this built into prices ?
Retail inflation moderates to 16-month low of 5.66% in March
CPI-based retail inflation in India eased further to 5.66 per cent in March as food inflation moderated on account of falling vegetable prices, offset in part by surging cereal prices. Rural inflation stood at 5.51 per cent while urban inflation stood at 5.89 per cent in the month of March
RBI cuts FY24 inflation aim to 5.2% even as risks from adverse climate conditions loom
Monetary Policy Meet: The Reserve Bank of India cut inflation aim to 5.2% from 5.3% forecast in February policy. The central bank today also stopped its rate-hike cycle by retaining the key lending rate at 6.5 per cent, after six consecutive hikes by a cumulative 250 bps. It remained focussed on withdrawal of accommodation. RBI Governor Shaktikanta Das, however, flagged sticky core price pressure, adverse climate conditions and risks to global commodity prices.
With early summer and expectation of elongated season, AC makers expect 20 pc volume growth
Buoyant by early trends of surge in demand, AC makers are expanding their portfolio by adding products in their lineup based on energy-efficient inverter technology and smart features such as IoT and air purifiers. They have also ramped up production to fill the stocks with their channel partners.
Heavy showers ahead of harvest season could fuel food prices, spur rate hikes
The increased food prices will ultimately compel the Reserve Bank of India (RBI) to go for another rate hike in order to bring inflation back to its comfort level. Soaring food prices may also lead to additional restrictions being imposed by the government on exports of food commodities such as rice, wheat, and sugar.
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