India trade pacts: Union Commerce and Industry Minister Piyush Goyal met with Italian Deputy PM Antonio Tajon at the G7 Trade Ministers' Meeting in Italy. They discussed enhancing bilateral cooperation in investments, start-ups, and energy. Minister Goyal also met with UK Secretary of State for Business and Trade and German Minister for Economic Affairs & Climate Action to strengthen economic relations. The visit aims to showcase India's trade and investment opportunities to the world.
The upcoming budget should focus on streamlining regulatory compliance and help the domestic pharma sector to boost their manufacturing capacity.
India's government is working to expedite visa processing for Chinese technicians to address complaints from businesses about delays hindering the nation's manufacturing growth. Amid strained India-China relations, the government aims to cut visa processing time to 30 days from the current 4-5 months. The move is seen as crucial for India's economic goals and attracting foreign investments.
A video posted on Instagram by Argentina midfielder Enzo Fernandez, who plays for Chelsea, and widely viewed on X showed Argentina players appearing to sing about French players with African heritage.
Author of the bestselling memoir "Hillbilly Elegy," a graduate of Yale Law School and later a venture capitalist in San Francisco, Vance has had a rapid ascent for American politics. At 39, he has served but two years in the U.S. Senate representing the state of Ohio.
Analysts recommend investing in silver as it is expected to outperform other asset classes in the next year. With strong industrial demand and potential interest rate cuts, buying on dips could yield significant returns. Consider a tactical allocation for potential gains.
A total of 22 companies, including Asian Paints and LTIMindtree, will announce their first quarter results. Analysts predict revenue growth and profit increases for both companies. Investors are advised to keep an eye on key performance indicators and market commentary.
The Islamic New Year 2024, also known as the Hijri New Year, began earlier this month. It commemorates Prophet Muhammad's migration from Mecca to Medina in 622 AD. Muslims reflect on faith and renew commitments. Traditions include prayers, fasting, and gatherings. Well-wishes for peace, prosperity, and blessings are exchanged.
Several shipping companies, such as Maersk Tankers, Mitsui OSK Lines, Trafigura, and Gunvor Group, are investing in ammonia tankers for 2027.
The Prestige Falcon, a Comoros-flagged tanker with 13 Indians and 3 Sri Lankans, capsized southeast of Ras Madrakah, Wilayat of Duqm. Oman’s Maritime Security Centre, confirming the crew remains missing via X on Tuesday, continues the search and rescue. The vessel, en route from Hamriya, Dubai to Aden, highlights Duqm Port’s strategic significance.
Afghanistan's Mohammad Samim Faizad is the only Olympic athlete training within Taliban-controlled Afghanistan for the Paris Olympics. While six Afghans, including three unacknowledged women, will compete in various sports, Faizad remains in the country, training rigorously amid poverty and Taliban governance.
Motilal Oswal Mutual Fund sold ₹645.84 crore worth of Zomato shares, causing a 4.71% drop in stock price, despite a 15.8% gain over the past month.
Kotak Mahindra Bank is shifting focus to physical branch expansion following ban on digital onboarding, unveiling new distribution structure to integrate branches, digital channels and voice services. Strategy aims to mitigate impact of RBI ban on credit card issuance and online customer onboarding. Analysts cautious on loan growth, but optimistic for future revival.
The Trump-Vance ticket, supported by Silicon Valley conservatives and nominated by the Republican National Convention, is poised to influence tech policy. Vance, who contributed to a $12M Trump fundraiser and has Bitcoin holdings, supports easing progressive constraints and a potential Google breakup. He has strong ties to Peter Thiel and Menlo Ventures.
Muharram, the first month of the Islamic lunar calendar, starts the new Islamic year and is one of Islam’s four sacred months, traditionally prohibiting warfare. The Day of Ashura, especially significant for Shia Muslims, is a time of mourning and reflection. In 2024, Ashura will be observed on July 17th, with the exact date depending on moon sightings. Shia Muslims commemorate the martyrdom of Imam Hussain, the grandson of Prophet Muhammad, during the Battle of Karbala.
Donald Trump returned to the Republican National Convention to unite the party, with three former rivals, including Nikki Haley, publicly supporting him. Trump, wearing a bandage from a recent assassination attempt, engaged with delegates but made no formal remarks. The convention aimed to present a united front despite some boos for Haley, who had previously antagonized Trump.
Institutional investors from the US and Japan are increasing their exposure to Indian equities post Modi's election victory. US funds hold a record 42.2% share while Japanese funds are at 2.9%. Interest rate differences between countries are impacting investment decisions.
Ola Electric, led by Bhavish Aggarwal, plans a $4 billion IPO, down from a $5.4 billion valuation with Temasek, aiming to raise ₹5,500 crore. The company has cut costs and laid off staff, affecting market share. Competing with FirstCry and Swiggy, its draft prospectus includes a 95.2M share OFS. Ather offers competition. Vahan data shows market revival.
Central Asia including Kyrgyzstan is not a usual destination for migrants. But the Kyrgyz national security council has recently detected the presence of several illegal migrants in the country and citizens from Pakistan and Bangladesh form the bulk of these illegal migrants.
The dollar strengthened due to steady retail sales and unchanged import prices. The Dollar Index gained 0.07%. Sterling and the euro weakened ahead of the ECB meeting, anticipating Christine Lagarde's comments. Bitcoin rose 1.58%. Trevisani cited resilient ex-auto sales. The Canadian dollar strengthened. Powell noted inflation trends. Markets price in a September Federal Reserve rate cut.
Global markets react anxiously to the potential impact of a Trump victory, with stocks dipping and currencies fluctuating. Speculation on future rate cuts and trade tensions add to the volatile atmosphere. Gold prices surge near record highs while oil prices slide. Will the world economy weather the storm?