Home prices in India are predicted to rise steadily, driven by demand for luxury properties from wealthy individuals. Affordable housing supply remains low, pushing many first-time buyers into renting. Experts forecast home prices to increase significantly in the coming years, despite a slow economic growth reach for the broader population. Rents in major cities are expected to rise faster than consumer inflation, adding pressure on urban dwellers.
President Droupadi Murmu has approved the formation of the 23rd Law Commission of India, which will operate from September 1, 2024, to August 31, 2027. It will review and recommend legal reforms. The commission comprises a full-time Chairperson, four members, and additional ex-officio and part-time members.
Bangladesh is on the verge of a historic series win against Pakistan, with fast bowlers Hasan Mahmud and Nahid Rana shining in the second Test in Rawalpindi. However, rain halted play, leaving Bangladesh needing just 143 runs on the final day as weather concerns loom large over their potential victory.
India's banks are facing a deposit shortage, causing concern among bankers and policymakers. Measures like restraining money growth to combat inflation, aggressive taxation on savings, and insufficient interest rates for savers are contributors. The Reserve Bank of India warns about potential liquidity issues, increasing the need for banks to mobilize household savings effectively.
The Telangana Government has assessed the recent damage from heavy rains and floods, estimating a total loss of Rs 5438 crore. Major sectors hit include Roads and Buildings (Rs 2,362 crore) and Municipal Administration (Rs 1150 crore). Relief measures include organizing 110 camps and relocating over 4000 people. Khammam District experienced unprecedented flooding, causing significant damage to homes.
Israeli Prime Minister Benjamin Netanyahu resists calls for a Gaza cease-fire after protests and criticism from US President Joe Biden. He emphasizes the need for Israeli control over the Philadelphi corridor. Public outcry follows the discovery of six dead hostages, leading to widespread protests and a general strike in Israel.
Australian shares fell 0.4% on Tuesday, driven down by declines in mining and consumer staples stocks. Investors were cautious ahead of local economic data and a key U.S. labour report. Leading miners and retail giants faced significant losses, reflecting thin trading influenced by a U.S. public holiday.
The U.K. government has announced the suspension of some arms exports to Israel due to concerns they could be used to violate international humanitarian law in the ongoing Gaza conflict. This decision impacts about 30 of 350 existing export licenses, including parts for planes, helicopters, and drones. The decision comes amid international pressure to end the 11-month-old conflict that has resulted in significant civilian casualties.
Gold prices edged down by 0.1% in early Asian trading hours, with investors eyeing U.S. economic data for indications on the Federal Reserve's impending interest rate cuts. This week will see key reports including non-farm payrolls, ISM surveys, and ADP employment figures. Spot silver, platinum, and palladium also showed small declines.
A senior Sebi official has urged stock exchanges to deny public listings for small and medium enterprises (SMEs), citing the inflation of balance sheets and lack of proper auditing. Over ₹14,000 crore have been raised through these listings in the past decade, with around ₹6,000 crore raised in FY24.
A Sebi study has found that 70% of individual investors sell their IPO shares within a year. Investors are more likely to sell shares posting positive returns quickly. The study also highlights a decline in high networth individual participation post-April 2022. Most IPO investors come from Gujarat, Maharashtra, Rajasthan, and Uttar Pradesh.
Russia's trade with India is thriving, with Sberbank handling up to 70% of Russian exports to the country. Trade between the two nations nearly doubled to $65 billion in 2023. Despite Western sanctions affecting other markets, Sberbank has faced no operational issues in India. The bank is actively using Indian payment systems and sees no rupee surplus problems, thanks to increased Indian exports to Russia.
Vedanta declared a ₹20 per share dividend, its third interim payout this fiscal year, totaling ₹7,821 crore, with a record date of September 10, following earlier dividends in May and July.
The Securities and Exchange Board of India has temporarily halted JSW Cement's proposed IPO valued at ₹4,000 crore. Intended for debt repayment and a new unit in Nagaur, the IPO combined share sales and fresh issues. Despite a 3% revenue rise in FY24, profits decreased by 40% to ₹62 crore.
A Japanese entrepreneur, Daisuke Hori, has maintained a sleep routine of only 30 minutes per day for the past 12 years, claiming it boosts his work efficiency. Hori believes high-quality sleep is crucial for tasks needing sustained focus. A reality show documented his extraordinary regimen, and he has even founded the Japan Short Sleepers Training Association, teaching hundreds to adopt similar routines.
Orkla India, owner of MTR and Eastern spices, is in early discussions to raise around $300 million via an IPO. The company aims to list between June and November 2025. With sales restructuring in 2023, the brand is preparing for capital market opportunities.
Youth unemployment in China has ended up becoming a major issue for the nation, even amid its rising economy, as well as its rise in emerging technologies, including AI. Meanwhile, the country is now baking on concepts like AI, in order to generate employment and workforce, but will be able to suffice with the increasing employment demand?
India's equity indices, including Nifty and Sensex, reached new highs with modest gains on Monday. Nifty was up 0.2% closing at 25,278, and Sensex increased by 194 points to 82,559. However, mid- and small-cap indices saw declines. Upcoming US Federal Reserve decisions are anticipated to impact the market further.
BJP National President Jagat Prakash Nadda chaired a key meeting in the national capital to finalize candidates for the Haryana Assembly elections. Top leaders including Union Home Minister Amit Shah attended. The meeting lasted for 3:30 hours, and the first candidate list will be released soon. Voting in Haryana is set for October 5.
A tragic incident involving the rape and murder of a 10-year-old tribal girl in Balasore, Odisha, has led BJD leaders to criticize the BJP government for a perceived deterioration in law and order. BJP MLA Santosh Kathua stated that police are actively working to apprehend the culprits. Calls for improved measures against rising crimes, especially against women, have intensified in light of this and other recent incidents in the state.
The India Meteorological Department forecasts heavy to very heavy rain in Maharashtra, Gujarat, Andhra Pradesh, Telangana, Meghalaya, and Mizoram. Cyclone ASNA has weakened, and light to moderate rainfall is expected in West and Central India. Flooding has disrupted daily life, cancelling trains and deploying NDRF teams. Authorities are monitoring weather patterns closely.
Vedanta Resources plans to raise up to $1.5 billion through a five-year dollar bond sale, aiming to refinance existing debt and reduce borrowing costs. Managed by major banks, the issue seeks to refinance bonds due in 2027 and 2028. The bond sale is expected to open next week after investor meetings in key financial hubs.
