TRADE MARKS
Indian exports show resilience amid global challenges in first quarter: CRISIL report
The report states that the deceleration in the growth momentum of exports in June compared to May was largely due to an 18.2 percent contraction in oil exports. The growth momentum slowed down in June, with merchandise exports increasing by only 2.6 percent year-on-year, down from 9.1 percent in May.
Nifty continues record run, scales 24,650 mark; Sensex rises 100 points
Indian indices rose 0.12%, with Sensex gaining 97 points and Nifty 50 reaching a new July record, up 29 points at 9:22 am, trading at 24,615. Nifty rose in 8 out of 12 July sessions. Bharti Airtel, Adani Ports, Tata Steel, and Bajaj Finserv led gains, while HCL Tech, L&T, Tata Motors, and Nestle India saw losses.
Spot ether ETFs likely to begin trading July 23, industry sources say
The U.S. SEC approved ether ETFs by BlackRock, VanEck, and Franklin Templeton starting July 22. Ether's price increased to $3,433.07. SEC Chair Gary Gensler cited similarities to bitcoin ETF approval. Analysts predict $1 billion monthly inflows; Galaxy Research forecasts more volatility due to ether's $359 billion market value. Initial low hopes transformed with $33.1 billion in net inflows.
Raise the stakes of BIMSTEC markedly
The Bimstec foreign ministers' retreat in New Delhi aimed to create an actionable roadmap for the seven member countries, including India, Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal, and Bhutan. India must lead by leveraging its economy and partner strengths. Trade among these seven economies has grown, but remains low compared to intra-Asean trade.
Türkiye marks a 34% surge in Indian visitors from January to May 2024
In early 2024, Türkiye saw a 34% surge in Indian tourists, reaching 1,26,000 visitors. Top destinations like Istanbul, Cappadocia, Antalya, and Bodrum were popular. Efforts included a six-city TAAI roadshow and an OTOAI fam tour. Tourists also visited Pamukkale, İzmir, and Alaçatı, attracted by their natural beauty and luxurious celebrations.
Chinese involvement in Hindenburg report? Senior lawyer Jethmalani's claim turns Adani saga into a spy thriller
Adani Hindenburg row: Senior lawyer Mahesh Jethmalani has alleged that a businessman with ties to China commissioned a report by Hindenburg Research, resulting in a significant decline in Adani Group shares in January 2023. Jethmalani claimed that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg and used Kotak Mahindra Investments Limited to establish a trading account for short-selling Adani shares. This move, according to Jethmalani, led to substantial profits for them while causing financial harm to numerous Indian retail investors.
Beyond Kotak, is there a China connection to the Hindenburg exposé on Adani?
Social media is rife with claims that the wife of Mark Elliot Kingdon, the man on whom the spotlight fell following Sebi's revelations, has had ties with the Chinese Communist Party and thus China could be another actor in the Hindenburg saga.
Govt makes ISI mark mandatory for stainless steel, aluminium utensils
The government has mandated national quality standards for stainless steel and aluminium kitchen utensils, requiring the ISI mark to ensure product safety and quality. This order, issued by the DPIIT and effective from March 14, 2024, bans the manufacture, sale, or distribution of non-compliant utensils. Non-adherence will incur penalties.
Government makes ISI mark mandatory for stainless steel, aluminium utensils
According to BIS, the order prohibits the manufacture, import, sale, distribution, storage, or exhibition for sale of any stainless steel or aluminium utensils that do not bear the BIS standard mark. Non-compliance with the order will attract penalties, underscoring the government's commitment to consumer safety and product integrity, it said in a statement.
Crypto Price Today: Bitcoin slips below psychological $60,000 mark. Etherium, Solana, others down by up to 9%. Here’s why
Bitcoin plunges below $60,000, causing panic among investors as altcoins follow suit. Mt. Gox repayment, government sell-offs, and a massive whale dump contribute to the market chaos
Fresh twist: Hindenburg gets Sebi notice for ‘shorting Adani shares’
Hindenburg termed the Sebi’s notice, dated June 26, as “nonsense, concocted to serve a pre-ordained purpose, an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India”. Apart from the research firm, its founder Nathan Anderson, Mark E Kingdon, Kingdon Capital Management, Kingdon Offshore Master Fund and K- India Opportunities Fund (KIOF) - Class F, too, were served the notice.
FPIs’ G-Sec purchases cross $10-billion mark
Nine months after JP Morgan announced the inclusion of Indian government debt in its emerging markets index, foreign portfolio investors have increased their ownership of sovereign bonds by over $10 billion. The influx of funds is expected to continue as India's index weightage grows.
Indices touch new peaks, Sensex tops 77,000 mark
India's Nifty and Sensex hit fresh highs, with Sensex closing above 77,000 for the first time after a bullish wave since June 4 election results.
Cryptocurrency prices on June 13: Bitcoin trades flat after hitting $70K mark post Fed outcome
Bitcoin reached $70,000 but later dipped to $67,600 after Federal Reserve's hawkish stance post FOMC announcement and lower-than-expected CPI data release.
Sensex may hit 1 lakh before 5 years, thinner Modi 3.0 doesn't mean end of bull run: Mark Mobius
There is an old saying, the best time to buy is when others are selling at a very unhappy period. And the best time to sell is when everyone is greedily buying. So, you have got to keep those principles in mind. Otherwise, you will get caught up with the herd.
How to navigate IP challenges in the rise of social media
While social media has created immense opportunities for engagement and expression, it has also raised a myriad of legal challenges, particularly concerning intellectual property (IP) rights including issues around content ownership, digital rights management, deep fakes etc.
India has potential to capture a large share of global defense market: Mark Matthews
I think there is scope for further expansion if the earnings grow and if the economy grows, then the earnings will grow. If the economy grows by let us say 6-7-8% per year, then I think it is reasonable to assume earnings grow by 12-13-14% per year and if you compound that a couple of years, then actually India is not expensive.
Crypto market rebounds despite Mt. Gox drama; Bitcoin holds above $68k mark
After initially dropping to the $67,200 level following news of Mt. Gox transferring Bitcoin, the world's largest cryptocurrency by value, rebounded and surged nearly 1% to reach $68,852 in Wednesday's trade.ok
Lucky draw for MP voters, but first the mark: Election officials rope in traders’ associations to help boost turnout
Madhya Pradesh's election officials have partnered with civil society and trade associations to increase voter turnout. District electoral officers have held lucky draws for products such as t-shirts, caps, and pens to make the election process more interesting. In Bhopal, diamond rings are being drawn, while in Ratlam, jewelry associations are offering discounts.
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