Shares were down 8% Friday in Tokyo. Over two days, the technology conglomerate is down roughly 14%. Even after the recent plunge, Son is up about $2.7 billion from the $11.3 billion he began the year with, according to the Bloomberg Billionaires Index.
Aaditya Thackeray criticized the Maharashtra government for planning hoardings along the Coastal Road, alleging violation of the original plan. He vowed to remove them if his party regains power. Milind Deora responded by urging Thackeray to focus on a real development agenda for Mumbai instead of targeting authorities.
CK Venkataraman, MD of Titan, highlighted the need for higher standards and innovation in Tanishq to sustain growth. He noted July's improved performance, despite Q1 challenges with fewer weddings and fluctuating gold prices. Venkataraman also discussed market strategies, rural versus urban growth, and the potential impact of lab-grown diamonds on the diamond industry.
The billionaire businessman was responding to a tweet from 'Indian Tech & Infra' which said that "Stock market crashes all over the world. Indian stock market wipes out more than 10 lakh crore in a single day".
JSW Energy earned an 'A' rating in ESG from MSCI, showcasing its efforts in reducing carbon emissions and advancing renewable energy. The company said it has focused on projects like green hydrogen and hybrid power as part of its Strategy 2.0. This rating emphasizes the company's sustainable investment and leadership in the energy sector.
IndiGo has finally announced it's much-anticipated business class for select routes.
Turkey planned discussions with Instagram after it was blocked in the country. The platform allegedly censored posts mourning Hamas leader Ismail Haniyeh's assassination in Tehran. Earlier, Turkey highlighted the need for Instagram to comply with its laws.
Mahindra Lifespace Developers and Actis formed Ample Parks, a joint venture to develop industrial and logistics parks in India. Their initial 70-acre project in Chennai marks the beginning of a plan to acquire and develop 1.5 million square meters of greenfield and brownfield sites. Actis holds a majority stake, with Mahindra Lifespaces owning a significant minority.
The investment objective of the scheme is to provide returns that, before expenses, match the total returns of the securities represented by the Nifty India Defence Total Return Index, subject to tracking errors.
The Modi government aimed to amend the 1995 Waqf Act to ensure accountability and transparency in Waqf boards and mandate the inclusion of women. The proposed changes, which faced opposition from some parties, were developed after consulting Muslim intellectuals and organizations. The amendments include the registration of properties and enhanced judicial scrutiny to verify Waqf assets.
Global Capability Centers in India have experienced substantial growth over the past decade. From FY15 to FY23, GCC revenues grew at a CAGR of approximately 11%, while the top 5 IT services companies saw an 8% CAGR in revenue, albeit from a much larger base. This growth is also evident in headcount additions. From 2010 to 2023, GCC headcounts increased at a CAGR of 12%, compared to 8% for the top 5 IT companies during the same period.
Global markets are experiencing turmoil as August begins, with concerns mounting over the potential for a United States cyclical recession. Goldman Sachs has increased the probability of a US recession within the next year to 25 percent from 15 percent, but there are still reasons to be optimistic according to experts.
Right now, the government is running a primary deficit of roughly 4% of GDP with the inflation-adjusted interest rate about level with the growth rate. So the debt is growing quickly, from a little under 100% of GDP now to an expected 122% by 2034. As it does, it will put upward pressure on the cost of borrowing, which could put downward pressure on economic activity. In other words, the growth of debt is at risk of not merely persisting but accelerating.
The government reported that Rs 3.86 lakh crore worth of assets were monetised from 2021 to 2024. The coal sector led with Rs 1.54 lakh crore, followed by roads at Rs 81,556 crore. Other sectors like power, mines, petroleum, railways also contributed significantly. The announcement was made by Minister Pankaj Chaudhary in the Lok Sabha.
Every event in the currency market has a twin impact, while some lose but there are others which also gain. But given the mayhem on the street and the narrative, the beneficiaries of that event are overlooked. Today as the unwinding of Yen carry trade takes place in the global market and global markets are melting, one is forgetting the fact that strength of the Japanese yen will help the Indian companies which are exporting to Japan. The reason, cost are in Indian rupee, sales are in Japanese Yen and when that money is converted to rupee... Читать дальше...
This can be possible by investing in Overnight Funds. These funds invest in securities that have a maturity of only 1 day. This reduces the default risk to zero which makes it a good option to park surplus funds and earn a little extra return than a savings account.
Bangladesh is facing a potential military takeover amid escalating protests demanding Prime Minister Sheikh Hasina's resignation. The unrest, initially sparked by opposition to a government job quota system, has resulted in over 300 deaths. Military Chief Waker-Uz-Zaman may align with protesters, suggesting an interim military government. Despite government restrictions, the movement continues to gain widespread support, indicating deepening political instability and significant potential for change in the country's leadership.
So, certainly there is going to be a reality check. There is a lot more important US data coming out, particularly today, the ISM services number and then, yes, going on in the week as well which will give us a reality check on really how bad is the US economy faring and whether we should really be expecting the Federal Reserve to cut rates by 50 basis points in just one meeting in September or over 100 basis points through to the end of the year.
Sheikh Hasina Resigns: Bangladesh Prime Minister Sheikh Hasina stepped down from her position on Monday amid unrest in the country, according to AFP. She is reportedly traveling to India for safe shelter with her younger sister, Sheikh Rehana, as reported by Bangladesh's Daily Prothom Alo.
A total of 3,00,090 candidates have registered so far for the 71,000 available undergraduate seats at Delhi University (DU) for the academic session 2024-25
Chief Minister Pushkar Singh Dhami, who is personally monitoring the search and rescue, appreciated the participation of locals in the operations. In a post on social media, he called it "Devbhoomi's culture" of "Atithi Devo Bhava". Due to heavy rainfall and a cloudburst on July 31, the Kedarnath trek route was washed away at many places, while the path was damaged at other places due to landslides.
