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Surge in yields makes owning US stocks over bonds the most unattractive in decades The allure of owning US stocks over less risky investments is at its lowest level in decades, according to one measure, despite the equity market's race upward this year, the media reported. The benchmark S&P 500 index has gained 16 per cent this year, pushed higher by Wall Street's obsession with artificial intelligence that has propelled mega-cap technology stocks to dizzying heights, CNN reported. At the same time, hot economic data has helped push Treasury yields higher ...
Surge in yields makes owning US stocks over bonds the most unattractive in decades
Surge in yields makes owning US stocks over bonds the most unattractive in decades
Source: IANS
9/09/2023 11:54:10 AM
Gold set for weekly dip with resilient US economy in focus Gold firmed on Friday as the dollar retreated from highs but the bullion was still en route to a weekly fall as traders looked beyond a widely expected pause by the Federal Reserve this month to focus on persistently resilient U.S. data. Spot gold was up 0.3% to $1,924.98 per ounce by 0345 GMT, but set for a 0.7% weekly fall. U.S. gold futures rose 0.3% to $1,949.00. "Market participants are looking for other asset classes that can give them higher returns. That, at this moment, se...
Gold set for weekly dip with resilient US economy in focus
Gold set for weekly dip with resilient US economy in focus
Source: Reuters
8/09/2023 9:45:20 AM
Joe Biden and Narendra Modi to make progress on GE jet engines, nuclear The White House expects to see meaningful progress on GE jet engines and civil nuclear technology in upcoming bilateral talks between U.S. President Joe Biden and India Prime Minister Narendra Modi, national security adviser Jake Sullivan told reporters on Thursday. Earlier this year, the aerospace unit of General Electric (GE.N) announced it had signed an agreement with India's state-owned Hindustan Aeronautics to jointly make engines in India to power fighter jets for the Indian Air ...
Joe Biden and Narendra Modi to make progress on GE jet engines, nuclear
Joe Biden and Narendra Modi to make progress on GE jet engines, nuclear
Source: Reuters
8/09/2023 9:35:13 AM
India removes additional duty on 12 US products ahead of Joe Biden`s visit India has done away with additional duties on some American products like chickpeas, lentils, and apples, as US President Joe Biden is set to arrive on a three-day visit to India. These additional duties were imposed in 2019 in response to America’s decision to increase tariffs on certain steel and aluminium products. India had imposed these duties on 28 US products in 2019. The decision to remove these duties on American products was taken through a Finance Ministry notificati...
India removes additional duty on 12 US products ahead of Joe Biden`s visit
India removes additional duty on 12 US products ahead of Joe Biden`s visit
Source: IANS
7/09/2023 5:33:08 PM
Gold prices tread water as markets weigh Fed policy path Gold prices edged lower on Tuesday as the dollar stood firm near recent highs, although trading was fairly muted with markets looking for more cues on the U.S. Federal Reserve's policy path after a widely expected interest rate pause this month. Spot gold was down 0.1% at $1,936.89 per ounce by 0356 GMT. U.S. gold futures fell 0.2% to $1,962.70 after a U.S. holiday on Monday. "Much remains to be seen if rate cuts in 2024 follow and to what extent," said Harshal Barot, a se...
Gold prices tread water as markets weigh Fed policy path
Gold prices tread water as markets weigh Fed policy path
Source: Reuters
5/09/2023 10:11:24 AM
Gold muted as investors focus on US jobs data for Fed's rate course Gold prices looked set on Friday to wrap up their second straight week of gains, helped by diminished chances of U.S. interest rate hikes this year after a data-filled week that concludes with the pivotal jobs report later in the day. Spot gold steadied at $1,938.92 per ounce by 0336 GMT, but was poised for a more than 1% weekly gain after prices touched one-month highs on Wednesday. U.S. gold futures were trading around $1,965.60. "The data from the U.S. has been on the soft side ...
Gold muted as investors focus on US jobs data for Fed's rate course
Gold muted as investors focus on US jobs data for Fed's rate course
Source: Reuters
1/09/2023 9:53:14 AM
New Indo-US task force aims $100 bn electronics trade between 2 nations The Indo-US Task Force for Electronics, launched here on Thursday, aims to boost the electronics trade between the two countries to $100 billion within a decade. The India Cellular and Electronics Association (ICEA) organised the launch meeting here, attended by senior officials from Department of Telecommunications (DoT), US Embassy, leading US and Indian companies, investment banking fraternity, and Washington D.C.-headquartered Information Technology Industry Council (ITI). "The...
New Indo-US task force aims $100 bn electronics trade between 2 nations
New Indo-US task force aims $100 bn electronics trade between 2 nations
Source: IANS
31/08/2023 4:33:59 PM
US economy grew more slowly in second quarter than previously estimated   The US economy grew more slowly in the second quarter than previously estimated -- a good sign for the Federal Reserve, which is attempting to cool demand to bring down price increases, a media report said. Gross domestic product, the broadest measure of economic output, rose at an annualised rate of 2.1 per cent in the second quarter, according to the Commerce Department’s second estimate released on Wednesday, CNN reported. That’s a slightly slower pace than the ...
US economy grew more slowly in second quarter than previously estimated
US economy grew more slowly in second quarter than previously estimated
Source: IANS
31/08/2023 9:38:42 AM
Indian markets underperforming US markets this year   An important feature of the market performance this year is India’s underperformance relative to the US, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. While S&P 500 is up 17.6 per cent YTD, Nifty is up only 6.3 per cent YTD. Relatively high valuations in India are constraining a strong rally, he said. Of late, the poor monsoon this year, till now, is also emerging as a major worry, he added. In the near-term market may remain ste...
Indian markets underperforming US markets this year
Indian markets underperforming US markets this year
Source: IANS
30/08/2023 12:54:45 PM
Rupee may inch up tracking US Treasury yields fall, soft dollar The Indian rupee is expected to advance on Tuesday in the wake of a pullback in U.S. Treasury yields and the dollar in the lead-up to a slew of key economic data. Non-deliverable forwards (NDF) indicate rupee will open slightly higher to the U.S. dollar from 82.63 in the previous session. "We think it will be a better opening (for the rupee) than NDF is suggesting," a forex trader at a bank said. "Having said that, it will be a very quiet session with an intraday range...
Rupee may inch up tracking US Treasury yields fall, soft dollar
Rupee may inch up tracking US Treasury yields fall, soft dollar
Source: Reuters
29/08/2023 9:02:51 AM
India`s growth rate expected to be highest in near future: Finance Secretary India's growth rate is expected to be the highest in the near future, which will make it one of the biggest development opportunities, Finance Secretary T.V. Somanathan was quoted as saying at an event, according to reports. He said that India is already the world's fifth largest economy and also the world's largest country in terms of population. Also, India's growth rate is much faster than the top four nations, namely the US, China, Japan and Germany. "We can saf...
India`s growth rate expected to be highest in near future: Finance Secretary
India`s growth rate expected to be highest in near future: Finance Secretary
Source: IANS
25/08/2023 10:02:45 AM
Rupee winning run to pause on dollar rally ahead of Powell's speech The Indian rupee is expected to decline on Friday, halting a three-day winning streak, after the dollar index reached a two-month high on weak risk appetite and ahead of Federal Reserve Chair Jerome Powell's speech. Non-deliverable forwards indicate rupee will open at around 82.62-82.64 to the U.S. dollar compared with 82.5725 in the previous session. The rupee climbed to a three-week high of 82.3625 on Thursday. The drop back below 82.50 (after reaching near 82.36) "has mor...
Rupee winning run to pause on dollar rally ahead of Powell's speech
Rupee winning run to pause on dollar rally ahead of Powell's speech
Source: Reuters
25/08/2023 9:00:35 AM
Soft data drags back dollar ahead of Jackson Hole The dollar nursed a sharp pullback against Asian currencies on Thursday, after softer-than-expected global economic data muddied the interest rate outlook and pushed down U.S. yields ahead of the Federal Reserve's Jackson Hole symposium. The Australian dollar, which has been taking a battering for a few months on signs of China's slowdown and resilience in the U.S., jumped 0.9% overnight after U.S. manufacturing and services PMIs missed expectations. "Weaker than expected ....
Soft data drags back dollar ahead of Jackson Hole
Soft data drags back dollar ahead of Jackson Hole
Source: Reuters
24/08/2023 9:04:16 AM
Rupee set to gain further after slide in US Treasury yields The Indian rupee is expected to rise further on Thursday following a pullback in U.S. Treasury yields on weak economic data. Non-deliverable forwards indicate the rupee will open at around 82.58-82.60 to the U.S. dollar, compared with its close of 82.6850 in the previous session. The rupee, on Wednesday, had its best session in more than two months after the Reserve Bank of India asked some banks to not initiate new outright NDF arbitrage positions. The "hangover from yesterday ...
Rupee set to gain further after slide in US Treasury yields
Rupee set to gain further after slide in US Treasury yields
Source: Reuters
24/08/2023 8:57:42 AM
Footwear industry to record 11% revenue growth in FY24: Crisil Ratings Crisil Ratings in its latest report has said softening input cost and rising demand will help the footwear industry to record an 11 per cent growth in revenue this fiscal (FY24). He stated footwear demand is seen clipping at 4 percent this fiscal. Moreover, it said domestic revenue is seen rising 10 per cent, driven largely by higher selling prices. This fiscal, the increase in average selling price will largely be due to a shift in the product mix towards higher-priced segments compared to p...
Footwear industry to record 11% revenue growth in FY24: Crisil Ratings
Footwear industry to record 11% revenue growth in FY24: Crisil Ratings
Source: Accord Fintech
23/08/2023 10:54:27 AM
Gold stabilises near $1,900 level ahead of Jackson Hole meet Gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilise near a key $1,900 level ahead of a central bankers' gathering that would likely provide cues on interest rates outlook. FUNDAMENTALS * Spot gold was up 0.2% at $1,900.30 per ounce by 0123 GMT, while U.S. gold futures rose 0.2% to $1,929.40. * The dollar index was sitting below two-month highs, while a rally that took U.S. Treasury yields to nearly 16-year highs took a...
Gold stabilises near $1,900 level ahead of Jackson Hole meet
Gold stabilises near $1,900 level ahead of Jackson Hole meet
Source: Reuters
23/08/2023 8:58:18 AM
Rupee caught between further rise in US yields, yuan recovery The Indian rupee is likely to open little changed on Tuesday on the back of a recovery in the Chinese yuan and other Asian currencies despite a further rise in U.S. yields. Non-deliverable forwards indicate rupee will open near Monday's level of 83.1075. It looks like the USD/INR has settled at just above the 83 handle for now, a forex trader at Mumbai-based bank said. "The RBI (Reserve Bank of India) is averse to it (the USD/INR) making a new high, and on the other hand, yo...
Rupee caught between further rise in US yields, yuan recovery
Rupee caught between further rise in US yields, yuan recovery
Source: Reuters
22/08/2023 8:58:49 AM
Tesla unveils Models S, X which are $10K cheaper amid rising competition Elon Musk run-Tesla has launched its flagship Model S and Model X with standard variants at more affordable prices in the US and Canada, slashing it by $10,000 amid fierce competition in the premium EV car market. The introduction of the Model S and Model X Standard Range was spotted on Tesla's online configurator, reports Teslarati. On Tesla’s official website, the Model S Standard Range is now priced at $78,490 before options. The Model S SR offers a range of 320 miles of ra...
Tesla unveils Models S, X which are $10K cheaper amid rising competition
Tesla unveils Models S, X which are $10K cheaper amid rising competition
Source: IANS
15/08/2023 11:47:53 AM
Oil prices up in July by 16 per cent; highest since Jan 22 The oil market witnessed a significant surge in prices by 16 per cent in July, the highest since January 2022, as per a report by Motilal Oswal Asset Management Company. Silver and gold prices also rose by 8 per cent and 3 per cent, respectively.  The crypto market was an exception to the green wave, as Bitcoin & Ethereum fell by 4 per cent, followed by the collapse of FTX, one of the largest global cryptocurrency exchanges. Both emerging and developed markets delivered posi...
Oil prices up in July by 16 per cent; highest since Jan 22
Oil prices up in July by 16 per cent; highest since Jan 22
Source: IANS
12/08/2023 8:49:07 AM
Investors await RBI monetary policy in the coming week Investors are awaiting the upcoming MPC meeting, where the RBI is expected to maintain its policy rates at 6.5 per cent, says Vinod Nair, Head of Research at Geojit Financial services. The week began on a positive note, with hopes of an end to the policy tightening era due to cooling inflation worldwide. However, negative news about the US rating downgrade, weak factory activity data from the Eurozone and China, and prolonged FII selling triggered by rising US bond yields caused widespread...
Investors await RBI monetary policy in the coming week
Investors await RBI monetary policy in the coming week
Source: IANS
6/08/2023 12:56:07 PM
Anant Maheshwari returns to Honeywell as High Growth Region President, CEO US-based consumer technology company Honeywell on Friday announced that former Microsoft India head Anant Maheshwari has been named President and CEO of Honeywell’s High Growth Region portfolio, effective from September 4. Maheshwari will succeed Ben Driggs, who will take another leadership role in the company. He will be a Corporate Officer of the Company, reporting directly to Honeywell CEO Vimal Kapur and will be located in Dubai. He previously had leadership roles of increasin...
Anant Maheshwari returns to Honeywell as High Growth Region President, CEO
Anant Maheshwari returns to Honeywell as High Growth Region President, CEO
Source: IANS
5/08/2023 9:16:58 AM
Gold gained on Fitch downgrade US credit rating The credit rating downgrade of the US by Fitch resulted in gold prices gaining slightly, said a senior official of Geojit Financial Services. “Gold prices slightly gained after the US government’s credit rating was downgraded by Fitch. Usually, economic uncertainties and dollar volatility can have significant impacts on the price and demand for gold as it is considered a safe-haven asset. The rating downgrade of the world’s largest economy tends investors to park their m...
Gold gained on Fitch downgrade US credit rating
Gold gained on Fitch downgrade US credit rating
Source: IANS
2/08/2023 3:42:31 PM
US traffic agency probing 280K Tesla cars over loss of steering control The US National Highway Traffic Safety Administration (NHTSA) is investigating approximately 280,000 Tesla vehicles (Model 3 and Model Y) over reports of loss of steering control while driving. The malfunctioning in Tesla cars has frequently been accompanied by driver-facing messages indicating that power steering assist is reduced or disabled, reports CNBC. The NHTSA received 12 complaints alleging loss of steering control and power steering in the vehicles. “Vehicle steering ...
US traffic agency probing 280K Tesla cars over loss of steering control
US traffic agency probing 280K Tesla cars over loss of steering control
Source: IANS
2/08/2023 11:03:06 AM
August has been the worst performing month for US stocks since 1986  US markets just wrapped up a winning July, with the S&P 500 and Nasdaq both notching their fifth positive month in a row, CNN reported. But August is here, and that often means trouble for markets. The last time the S&P 500 was on a winning streak this long was in 2021, when it was positive for seven months in a row — until August hit and ended the victory run. The well-known Wall Street adage says “sell in May and go away”, because the summer, and August...
August has been the worst performing month for US stocks since 1986
August has been the worst performing month for US stocks since 1986
Source: IANS
2/08/2023 9:48:51 AM
Oil prices rise more than 1% after sharp drop in US crude stocks Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the U.S., the world's biggest fuel consumer. Brent crude futures for October rose 92 cents, or 1.1%, to $85.83 a barrel by 0001 GMT, while U.S. West Texas Intermediate crude climbed 84 cents, or 1.03%, to $82.21 a barrel. Both benchmarks settled lower on Tuesday, breaking a three day streak of gains. ...
Oil prices rise more than 1% after sharp drop in US crude stocks
Oil prices rise more than 1% after sharp drop in US crude stocks
Source: Reuters
2/08/2023 8:59:20 AM
Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA Asian stocks edged toward a sixteen-month peak on Tuesday and oil held near recent highs as investors began to find more cause for cheer over global economic prospects than reasons to worry, even as data showed risks remain. The dollar hit a three-week high against the yen as investors continued to seek clarity on the Bank of Japan's recent adjustment to its yield curve control and what that might mean for monetary policy. The Aussie dollar, meanwhile, eased slightly heading into a ...
Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA
Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA
Source: Reuters
1/08/2023 9:26:02 AM
US investment firm Fidelity devalues holding in Indian SaaS company Gupshup Amid a deepening funding crunch, leading US investment firm Fidelity has reportedly slashed the estimated worth of its holding in homegrown conversational engagement platform Gupshup by over 20 per cent in a month. Fidelity has devalued its holdings in Gupshup by 50 per cent since its initial investment, TechCrunch reported on Monday. Fidelity had invested $16.2 million in Gupshup in mid-2021 in a round that valued it at $1.4 billion. At June end, Fidelity valued its holding in Gupsh...
US investment firm Fidelity devalues holding in Indian SaaS company Gupshup
US investment firm Fidelity devalues holding in Indian SaaS company Gupshup
Source: IANS
31/07/2023 1:57:06 PM
India emerging as trusted global electronics manufacturing partner: External Affairs Minister Emphasizing India’s role in critical and emerging technologies and importance of Nation’s growth in the electronics sector, particularly semiconductors, External Affairs Minister Dr S Jaishankar has stressed on India’s growing presence as a trusted global electronics manufacturing partner.  He said in this regard, the international collaborations with the US, Japan & Australia and upcoming opportunities with other like-minded countries hold significant importance...
India emerging as trusted global electronics manufacturing partner: External Affairs Minister
India emerging as trusted global electronics manufacturing partner: External Affairs Minister
Source: Accord Fintech
31/07/2023 1:45:24 PM
Momentum of FPI buying slows down It appears that the momentum of buying has slowed down and FPIs have turned sellers during the last two trading days, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. FPI’s sustained buying continues in July. During the last three months, from May 1 through July 28, FPIs have invested Rs 1,36,351 crore in India. In July through 28, FPIs have invested in equity for Rs 45,365 crore, he said. An important feature of FPI investment is that their buy/sel...
Momentum of FPI buying slows down
Momentum of FPI buying slows down
Source: IANS
29/07/2023 3:23:51 PM
US President Joe Biden to host trilateral summit with South Korean , Japanese leaders in August: White House US President Joe Biden will host a trilateral summit with his South Korean counterpart Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida in Washington on August 18, the White House said. "At the summit (in Camp David), the leaders will celebrate a new chapter in their trilateral relationship as they reaffirm their strong bonds of friendship and the ironclad alliances between the US and Japan, and the US and the Republic of Korea," Yonhap News Agency quoted White House press...
US President Joe Biden to host trilateral summit with South Korean , Japanese leaders in August: White House
US President Joe Biden to host trilateral summit with South Korean , Japanese leaders in August: White House
Source: IANS
29/07/2023 10:25:58 AM
U.S. chipmaker AMD to invest $400 million in India by 2028 U.S. chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD's announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi's home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotr...
U.S. chipmaker AMD to invest $400 million in India by 2028
U.S. chipmaker AMD to invest $400 million in India by 2028
Source: Reuters
28/07/2023 12:01:26 PM
US economy grew stronger than expected in second quarter The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the media reported.  Gross domestic product, the broadest measure of economic output, grew by an annualized, seasonally adjusted 2.4 rate in the April-through-June period, the Commerce Department reported on Thursday. That was a faster pace than in the first three months of the year and was also above economists' expectations for a 1.8 per cent rate, according to Refiniti...
US economy grew stronger than expected in second quarter
US economy grew stronger than expected in second quarter
Source: IANS
28/07/2023 11:18:19 AM
US Fed raises interest rates for the 11th time in 16 months The US Federal Reserve raised interest rates by a quarter percentage point Wednesday, making it the 11th in the last 16 months in its continuing efforts to tame inflation. The new hike, which was announced after a two-day meeting of the Fed’s top decision-making body, take the rate to the highest level in 22 years — to between 5.25 and 5.50 per cent. "Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation,&...
US Fed raises interest rates for the 11th time in 16 months
US Fed raises interest rates for the 11th time in 16 months
Source: IANS
27/07/2023 9:34:38 AM
IndiGo engages with Pratt & Whitney following engine recall InterGlobe Aviation, the operator of IndiGo airlines, on Wednesday said that it is in contact with engine manufacturer Pratt and Whitney to thoroughly evaluate any potential implications on its fleet. This decision comes in response to a recent cautionary statement issued by the US engine manufacturer, which has also created apprehension among airlines worldwide. "We are in receipt of the information from OEM Pratt and Whitney (P&W) regarding the outcome of the latest inspectio...
IndiGo engages with Pratt & Whitney following engine recall
IndiGo engages with Pratt & Whitney following engine recall
Source: IANS
27/07/2023 9:15:17 AM
Natco Pharma soars after filing ANDA for generic version of Erdafitinib Tablets Natco Pharma is currently trading at Rs. 794.65, up by 14.75 points or 1.89% from its previous closing of Rs. 779.90 on the BSE. The scrip opened at Rs. 780.05 and has touched a high and low of Rs. 797.90 and Rs. 773.70 respectively. So far 46549 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 797.90 on 26-Jul-2023 and a 52 week low of Rs. 502.00 on 02-Feb-2023. Last one week high and low of the scrip stood at R...
Natco Pharma soars after filing ANDA for generic version of Erdafitinib Tablets
Natco Pharma soars after filing ANDA for generic version of Erdafitinib Tablets
Source: Accord Fintech
26/07/2023 3:02:37 PM
Revenue of top domestic pharmaceutical firms to grow by 7-9% in current fiscal: Icra Rating agency Icra has said that revenue of top domestic pharmaceutical companies is likely to grow by 7-9 per cent in the current fiscal (FY24). It noted the growth will be supported by an 8-10 per cent expansion in the domestic market and a 6-8 per cent rise in the US market, while revenues from the European and emerging markets are expected to increase by 3-5 per cent and 8-10 per cent, respectively. Agency said it has taken into account a sample set of 25 Indian drug firms, which const...
Revenue of top domestic pharmaceutical firms to grow by 7-9% in current fiscal: Icra
Revenue of top domestic pharmaceutical firms to grow by 7-9% in current fiscal: Icra
Source: Accord Fintech
26/07/2023 10:06:27 AM
Gold listless as traders avoid big bets ahead of Fed decision Gold struggled for momentum on Wednesday as traders refrained from making big bets ahead of the U.S. Federal Reserve's policy decision due later in the day. Spot gold inched 0.1% lower to $1,963.59 per ounce by 0347 GMT, while U.S. gold futures edged 0.1% higher to $1,965.30. "Broader markets are looking for an extended rate pause through the rest of the year, while Fed officials could push back by leaving the door open for one more hike in September or November," said Yea...
Gold listless as traders avoid big bets ahead of Fed decision
Gold listless as traders avoid big bets ahead of Fed decision
Source: Reuters
26/07/2023 9:26:51 AM
US-based IT firm to provide jobs to 200 people in Kerala A US-based IT company that set up its office in Kerala will start its operations from Monday (July 24). The company will be providing direct employment to 200 people in the state. Chief Executive Officer of 'Cloud Q' Yassar Hameed, in a press conference on Sunday, told mediapersons that the company would be setting up a centre in Kerala based on the opportunities in the state. The CEO said that the company was interested in opening a new office in Kerala as the facilities provid...
US-based IT firm to provide jobs to 200 people in Kerala
US-based IT firm to provide jobs to 200 people in Kerala
Source: IANS
24/07/2023 9:52:30 AM
Yen pressured as traders wait on policy decisions The dollar and euro made firm starts on Monday to a week full of central bank meetings, while the yen was struggling as investors expect the Bank of Japan will be the odd one out as policymakers hike rates in Europe and the United States. The Federal Reserve concludes a meeting on Wednesday, followed by the European Central Bank a day later and the Bank of Japan on Friday. The yen had dived on the dollar and crosses last week following a Reuters report that the Bank of Japan was leaning...
Yen pressured as traders wait on policy decisions
Yen pressured as traders wait on policy decisions
Source: Reuters
24/07/2023 8:54:33 AM
Mahindra Roxor cleared for sale in the US Since its launch in the US back in 2018, Mahindra's Roxor off-roader has been facing multiple lawsuits by Fiat Chrysler Automobiles (FCA) - Stellantis, over its Jeep-like design. In a recent development, Mahindra has said that it has got the clearance to manufacture and sell the Roxor with the design update that debuted post 2020, Autocar India reported. In a regulatory filing, Mahindra has said that on July 19, the Eastern District Court of Michigan issued its order on FCA's renew...
Mahindra Roxor cleared for sale in the US
Mahindra Roxor cleared for sale in the US
Source: IANS
23/07/2023 2:36:08 PM
Eric Garcetti is being just the ambassador he said he would be Eric Garcetti was very clear from the very start what kind of ambassador he will be in India: someone who will not hesitate to rise to the defence of human rights and democracy. And that's what he did recently when asked about the situation in Manipur, although he did in the end cover his flanks well, saying India is for Indians to determine. Garcetti is a politician and his last job was as Mayor of Los Angeles, the second largest city in the US, Los Angeles. And unlike a profession...
Eric Garcetti is being just the ambassador he said he would be
Eric Garcetti is being just the ambassador he said he would be
Source: IANS
23/07/2023 11:36:16 AM
YouTube hikes Premium individual plan by $2 for subscribers in US Google-owned YouTube has increased the price of a Premium individual plan by $2 in the US for new and current customers. Users will now have to pay $13.99 per month instead of $11.99. The plan will cost $18.99 if users are subscribing from the iOS YouTube app, reports 9to5Google. "We're updating the price for YouTube Premium and YouTube Music Premium subscribers in the US to continue delivering great service and features. We believe this new price reflects the value of YouTu...
YouTube hikes Premium individual plan by $2 for subscribers in US
YouTube hikes Premium individual plan by $2 for subscribers in US
Source: IANS
21/07/2023 4:42:11 PM
Weak Q1 results by Infosys, HUL drag down Sensex by 800 points Weak Q1 results by Infosys and Hindustan Unilever are weighing on Indian indices as the BSE Sensex extended its fall on Friday to 800 points. HUL's revenue growth of 6 per cent YoY was below our expectations, HDFC Securities said in a report. HUL is down 3 per cent in trade on Friday. Domestic volume growth, at 3 per cent, was below our estimate. We note volume growth was impacted as trade reduced stock levels (1-3 days) in lieu of price cuts. In home care, fabric wash grew in doubl...
Weak Q1 results by Infosys, HUL drag down Sensex by 800 points
Weak Q1 results by Infosys, HUL drag down Sensex by 800 points
Source: IANS
21/07/2023 11:21:35 AM
Netflix adds 5.9 mn paid subscribers in Q2, revenue at $8.2 bn Streaming giant Netflix added 5.9 million subscribers globally in the second quarter (Q2), with the US and Canada making up 1.17 million new members in the April-June period. In May, the company launched paid sharing in more than 100 countries, representing more than 80 per cent of its revenue base. "Revenue in each region is now higher than pre-launch, with sign-ups already exceeding cancellations. Paid net additions were 5.9 million in Q2," Netflix said in a statement late o...
Netflix adds 5.9 mn paid subscribers in Q2, revenue at $8.2 bn
Netflix adds 5.9 mn paid subscribers in Q2, revenue at $8.2 bn
Source: IANS
20/07/2023 11:36:01 AM
Global NBFI distress may have spillover effect on other sectors: Moodys Amid high interest rates, coupled with lower growth rates, any distress in non-bank financial institution (NBFI) sector globally could have spillover credit impact on many other sectors, said global credit rating agency Moody’s Investors Service. "Some economies could be highly exposed to any pullback in lending if NBFIs provide a significant proportion of credit to the economy, such as in the US and the UK. That said, some specific sectors within emerging markets like China'...
Global NBFI distress may have spillover effect on other sectors: Moodys
Global NBFI distress may have spillover effect on other sectors: Moodys
Source: IANS
20/07/2023 9:54:54 AM
Decline in Chinese garment exports to Japan provides immense opportunity for Indian apparel industry: AEPC Chairman The Apparel Export Promotion Council (AEPC) Chairman Naren Goenk has said that decline in Chinese garment exports to Japan provides an immense opportunity for the Indian apparel industry to boost shipments to the island nation. He said a strong Indian garment industry with its unique offerings has a huge scope for Japanese trading companies to source from India.  Moreover, Goenk said the duty-free access for Indian ready-made garments post-Indo-Japan free trade agreement as against ab...
Decline in Chinese garment exports to Japan provides immense opportunity for Indian apparel industry: AEPC Chairman
Decline in Chinese garment exports to Japan provides immense opportunity for Indian apparel industry: AEPC Chairman
Source: Accord Fintech
19/07/2023 12:13:19 PM
Indian-Americans named to US EXIM advisory councils The Export-Import Bank of the United States (EXIM), which is the official export credit agency of the country, named new members, including many Indian-Americans, to its four advisory subcommittees. The subcommittees -- Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its initiatives as the agency works to advance key Biden-Harris administration priorities. Pavneet Singh, CEO of Infobalize, was appoi...
Indian-Americans named to US EXIM advisory councils
Indian-Americans named to US EXIM advisory councils
Source: IANS
19/07/2023 9:39:47 AM
Developed economies under stress, there is demand slowdown: Piyush Goyal Amid a dip in the country's exports, Commerce and Industry Minister Piyush Goyal has said that the developed economies are under stress, and there is a demand slowdown in the world market. India’s merchandise exports contracted by 22 per cent, the steepest decline in the last three years, to $32.97 billion in June 2023 as compared to $42.28 billion in June 2022 on account of global demand slowdown, especially in the Western markets like the US and Europe. The minister said &lsquo...
Developed economies under stress, there is demand slowdown: Piyush Goyal
Developed economies under stress, there is demand slowdown: Piyush Goyal
Source: Accord Fintech
18/07/2023 11:28:06 AM