Non-compete clauses: Unenforceable under law, but companies love them
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Non-compete clauses are still included in employment contracts in India, despite being unenforceable under the law. Companies use them as a soft deterrent, especially for senior executives. Employees comply rather than face litigation costs and being sued by their previous employer. The US Federal Trade Commission recently banned non-compete clauses for US workers. Indian employees tend to be compliant with non-compete obligations due to the severe consequences of breach. Some employees may not know their rights, leading to the inclusion of non-compete clauses in contracts.
#NoncompeteClauses #EmploymentContracts #IndianLaw #UsFederalTradeCommission
https://m.economictimes.com/news/company/corporate-trends/non-compete-clauses-unenforceable-under-law-but-companies-love-them/articleshow/109633571.cms
Oil prices rise as US official eases market concerns over economic headwinds
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Oil prices rose as US Treasury Secretary Janet Yellen stated that the US economy is likely in a stronger position than indicated by weak first-quarter data. Brent crude futures gained 34 cents to $89.35 a barrel, and US West Texas Intermediate crude futures rose by 33 cents to $83.90 a barrel. Yellen mentioned that US GDP growth for the first quarter could be revised higher after more data is available, and inflation is expected to ease to more normal levels. The rise in oil prices was also influenced by geopolitical tensions in the Middle East, as Israel stepped up airstrikes on Rafah despite warnings of mass casualties.
#OilPrices #UsEconomy #EconomicHeadwinds #BrentCrudeFutures #WestTexasIntermediateCrudeFutures #JanetYellen #Inflation #GeopoliticalTensions #MiddleEast
https://m.economictimes.com/markets/commodities/news/oil-prices-rise-as-us-official-eases-market-concerns-over-economic-headwinds/articleshow/109608716.cms
Markets & Mandate: How would you prepare your portfolio for Modi 3.0?
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Nilesh Shah, MD & CEO of Kotak Mahindra Asset Management, discusses India's economic trajectory and the importance of consumer, digital, and physical economy sectors for the next 5 to 10 years. He compares India's economic model to that of the United States, emphasizing the need to follow the US template of wealth creation over a longer period of time rather than the rapid growth seen in China. Shah believes that India's positive market outlook post-COVID is unprecedented and that the country will continue to be a focus for global investors. He highlights the manufacturing sector as the biggest beneficiary of Modi 3.0 and emphasizes the need to create more jobs through manufacturing to raise incomes. Shah also mentions the consumer and digital sectors as important areas of growth in the coming years. He expects labor and agriculture reforms to be the main focus areas for Modi 3.0. Overall, Shah believes that the journey of wealth creation in India has only just begun and that the country has a head start in technology and digitalization.
#Modi30 #IndiaEconomy #ConsumerSector #DigitalSector #PhysicalEconomy #ManufacturingSector #LaborReforms #AgricultureReforms
https://m.economictimes.com/markets/expert-view/markets-mandate-how-would-you-prepare-your-portfolio-for-modi-3-0/articleshow/109556766.cms
Markets & Mandate: How would you prepare your portfolio for Modi 3.0?
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Nilesh Shah, MD & CEO of Kotak Mahindra Asset Management, discusses India's economic trajectory and the importance of consumer, digital, and physical economy sectors for the next 5 to 10 years. He compares India's economic model to that of the United States, emphasizing the need to follow the US template of wealth creation over a longer period of time rather than the rapid growth seen in China. Shah believes that India's positive market outlook post-COVID is unprecedented and that the country will continue to be a focus for global investors. He highlights the manufacturing sector as the biggest beneficiary of Modi 3.0 and emphasizes the need to create more jobs through manufacturing to raise incomes. Shah also mentions the consumer and digital sectors as important areas of growth in the coming years. He expects labor and agriculture reforms to be the main focus areas for Modi 3.0. Overall, Shah believes that the journey of wealth creation in India has only just begun and that the country has a head start in technology and digitalization.
#Modi30 #IndiaEconomy #ConsumerSector #DigitalSector #PhysicalEconomy #ManufacturingSector #LaborReforms #AgricultureReforms
https://m.economictimes.com/markets/expert-view/markets-mandate-how-would-you-prepare-your-portfolio-for-modi-3-0/articleshow/109556766.cms
Markets & Mandate: How would you prepare your portfolio for Modi 3.0?
==========
Nilesh Shah, MD & CEO of Kotak Mahindra Asset Management, discusses India's economic trajectory and the importance of consumer, digital, and physical economy sectors for the next 5 to 10 years. He compares India's economic model to that of the United States, emphasizing the need to follow the US template of wealth creation over a longer period of time rather than the rapid growth seen in China. Shah believes that India's positive market outlook post-COVID is unprecedented and that the country will continue to be a focus for global investors. He highlights the manufacturing sector as the biggest beneficiary of Modi 3.0 and emphasizes the need to create more jobs through manufacturing to raise incomes. Shah also mentions the consumer and digital sectors as important areas of growth in the coming years. He expects labor and agriculture reforms to be the main focus areas for Modi 3.0. Overall, Shah believes that the journey of wealth creation in India has only just begun and that the country has a head start in technology and digitalization.
#Modi30 #IndiaEconomy #ConsumerSector #DigitalSector #PhysicalEconomy #ManufacturingSector #LaborReforms #AgricultureReforms
https://m.economictimes.com/markets/expert-view/markets-mandate-how-would-you-prepare-your-portfolio-for-modi-3-0/articleshow/109556766.cms
Markets & Mandate: How would you prepare your portfolio for Modi 3.0?
==========
Nilesh Shah, MD & CEO of Kotak Mahindra Asset Management, discusses India's economic trajectory and the importance of consumer, digital, and physical economy sectors for the next 5 to 10 years. He compares India's economic model to that of the United States, emphasizing the need to follow the US template of wealth creation over a longer period of time rather than the rapid growth seen in China. Shah believes that India's positive market outlook post-COVID is unprecedented and that the country will continue to be a focus for global investors. He highlights the manufacturing sector as the biggest beneficiary of Modi 3.0 and emphasizes the need to create more jobs through manufacturing to raise incomes. Shah also mentions the consumer and digital sectors as important areas of growth in the coming years. He expects labor and agriculture reforms to be the main focus areas for Modi 3.0. Overall, Shah believes that the journey of wealth creation in India has only just begun and that the country has a head start in technology and digitalization.
#Modi30 #IndiaEconomy #ConsumerSector #DigitalSector #PhysicalEconomy #ManufacturingSector #LaborReforms #AgricultureReforms
https://m.economictimes.com/markets/expert-view/markets-mandate-how-would-you-prepare-your-portfolio-for-modi-3-0/articleshow/109556766.cms
Markets & Mandate: How would you prepare your portfolio for Modi 3.0?
==========
Nilesh Shah, MD & CEO of Kotak Mahindra Asset Management, discusses India's economic trajectory and the importance of consumer, digital, and physical economy sectors for the next 5 to 10 years. He compares India's economic model to that of the United States, emphasizing the need to follow the US template of wealth creation over a longer period of time rather than the rapid growth seen in China. Shah believes that India's positive market outlook post-COVID is unprecedented and that the country will continue to be a focus for global investors. He highlights the manufacturing sector as the biggest beneficiary of Modi 3.0 and emphasizes the need to create more jobs through manufacturing to raise incomes. Shah also mentions the consumer and digital sectors as important areas of growth in the coming years. He expects labor and agriculture reforms to be the main focus areas for Modi 3.0. Overall, Shah believes that the journey of wealth creation in India has only just begun and that the country has a head start in technology and digitalization.
#Modi30 #IndiaEconomy #ConsumerSector #DigitalSector #PhysicalEconomy #ManufacturingSector #LaborReforms #AgricultureReforms
https://m.economictimes.com/markets/expert-view/markets-mandate-how-would-you-prepare-your-portfolio-for-modi-3-0/articleshow/109556766.cms
India's sugar demand surges in heat wave and election season
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India's sugar consumption is expected to rise to 7.5 million tons, up 5% from last year, due to heat waves and election rallies boosting the consumption of ice cream and soft drinks. The higher demand is expected to lift total consumption this year to a record 29 million metric tons. The rise in consumption is temporary, with demand growth returning to a normal pace next year. The increased demand will lift local prices and boost margins for sugar producers such as Balrampur Chini, Shree Renuka Sugars, Bajaj Hindusthan, and Dwarikesh Sugar, helping them make cane payments on time to farmers. Maximum temperatures in many parts of India have risen above 40 degrees Celsius, and the weather department has forecasted that the country is likely to experience more heat-wave days than normal between April and June. India is currently hosting the world's largest election, in which nearly a billion people are eligible to vote. Political parties are holding large rallies, some attended by as many as 200,000 people, despite the sweltering heat. The rise in sugar consumption has already begun lifting sugar prices, which have risen nearly 3% in a fortnight. The government has allocated a higher quota for April compared to last year, but prices are still rising due to robust demand from bulk consumers.
#Sugar #Demand #HeatWave #ElectionSeason #Consumption #Prices #Producers #Farmers #Temperature #Elections
https://m.economictimes.com/news/economy/agriculture/indias-sugar-demand-surges-in-heat-wave-and-election-season/articleshow/109525665.cms
Pre-market action: Here's the trade setup for today's session
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The US will be releasing GDP and core PCE data this week. The net short of FIIs slightly increased from Rs 1.07 lakh crore on Friday to Rs 1.08 lakh crore on Friday. Equity markets maintained strength throughout Monday's session. The sentiment is expected to remain favorable for bulls as long as it stays above 22,150. India VIX fell 2.6% to settle at 12.70 levels. Stocks in F&O ban today include Hindustan Copper, Vodafone Idea, ZEE, PEL. Foreign portfolio investors turned net sellers at Rs 2915 crore on Monday. DIIs sold shares worth Rs 3,543 crore. Tata Consumer, among others, will announce their fourth quarter earnings on Tuesday.
#StockMarket #TradeSetup #EquityMarkets #Fiis #IndiaVix #F&oBan #Earnings
https://m.economictimes.com/markets/stocks/news/pre-market-action-heres-the-trade-setup-for-todays-session/articleshow/109515262.cms
Dollar firm as US rates and earnings take centre stage
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The dollar ticked higher against the euro and yen in subdued trade after last week's volatility, with markets taking their lead from the Fed's higher-for-longer messaging and a firmer Wall Street ahead of results from megacap growth companies. Dollar/yen was steady on Monday, up 0.08% ahead of the Bank of Japan's (BOJ) policy review on Friday, trading at 154.75, a whisker away from last week's 34-year low of 154.79 and close enough to the 155-level that is next on traders' radars for possible intervention. The dollar's trade-weighted index was up 0.22% at 106.33, but off the five-month highs hit last week after comments from Federal Reserve officials and a run of hotter-than-expected inflation data forced a paring back of U.S. rate cut expectations. A cooling in Middle East tensions, which had driven the dollar, gold and oil sharply higher on Friday and battered stock markets, also helped temper volatility. The euro, which is heading for its biggest monthly drop against the dollar since January, was down 0.27% at $1.0628, while sterling fell 0.54% to $1.2302. Besides the BOJ meeting and earnings due from megacaps like Tesla on Tuesday, Meta on Wednesday and Microsoft, and Alphabet on Thursday, investors will get U.S. first-quarter GDP data on Thursday and the inflation metric the Fed targets, the personal consumption price expenditures (PCE) index.
https://m.economictimes.com/markets/forex/dollar-firm-as-us-rates-and-earnings-take-centre-stage/articleshow/109508592.cms
US stocks gain after Friday sell-off, Mideast tensions subside
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Wall Street's main indexes rose on Monday after steep losses in the previous session as easing Middle East tensions buoyed risk appetite. The Dow Jones Industrial Average was up 44.85 points, or 0.12%, at 38,031.25. The S&P 500 and the Nasdaq Composite also saw gains. Some megacap growth stocks like Meta Platforms, Amazon.com, and Apple edged higher. Nvidia rebounded from a previous drop. Major tech earnings and a key inflation print are expected this week. The easing of tensions in the Middle East also contributed to the risk-on mode in the market. Market participants are adjusting their interest rate cut expectations from the U.S. Federal Reserve after strong economic data signaling persistent inflationary pressures. The price consumption expenditure (PCE) index reading for March, the Fed's preferred inflation gauge, is expected to further ascertain the monetary policy trajectory. Fed policymakers are in a media blackout ahead of their latest policy meeting on May 1.
#UsStocks #MiddleEastTensions #TechEarnings #Inflation #InterestRateCut #FederalReserve
https://m.economictimes.com/markets/stocks/news/us-stocks-gain-after-friday-sell-off-mideast-tensions-subside/articleshow/109507191.cms
Kammou Taliat (You, My Beloved) -- Bombino
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The article discusses the song 'Kammou Taliat (You, My Beloved)' by Bombino, a Tuareg musician. The song features a contrapuntal melody and Bombino's distinct Tuareg music fused with electric guitar. The lyrics are in Tamasheq, and the song expresses love and longing. The article highlights Bombino's guitar playing as the standout element of the song.
https://m.economictimes.com/opinion/bliss-of-everyday-life/kammou-taliat-you-my-beloved-bombino/articleshow/109481529.cms
'Complete madness': Israel rebukes US over reported sanctions plan against IDF unit
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Israeli Prime Minister Benjamin Netanyahu and other officials have strongly criticized the United States for reportedly planning to impose sanctions on the Israel Defense Forces' (IDF) Netzah Yehuda battalion over alleged human rights violations. They describe it as a "dangerous precedent" and a "height of absurdity" during a time of conflict. The US decision, if implemented, would be the first time such action is taken against an Israeli military unit. Israeli leaders have emphasized the battalion's adherence to military and international law and expressed concern over the implications of the sanctions.
#Israel #Us #Idf #Sanctions #HumanRightsViolations
https://m.economictimes.com/news/defence/complete-madness-israel-rebukes-us-over-reported-sanctions-plan-against-idf-unit/articleshow/109479902.cms
Leaders of INDIA bloc are either in jail or bail: J P Nadda
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J P Nadda, the national president of the Bharatiya Janata Party (BJP), criticized the members of the INDIA bloc for dynastic politics and stated that they are either in jail or on bail. Nadda contrasted the BJP's approach, which allows ordinary people to rise and become leaders, with the dynastic parties in the INDIA bloc. He mentioned several leaders from these parties, including Farooq Abdullah, Omar Abdullah, Mufti Mohammad Sayeed, Mehbooba Mufti, Prakash Badal, Sukhbir Badal, the Chautala family, Mulayam Singh Yadav, Akhilesh Yadav, Dimple Yadav, Lalu Prasad Yadav, Rabri Devi, Tejashwi Yadav, Tej Pratap Yadav, Mamata Banerjee, Abhishek Banerjee, K Chandrashekar Rao, K T Rama Rao, Kavitha Kalvakuntla, M Karunanidhi, M K Stalin, Udayanidhi Stalin, Sharad Pawar, Supriya Sule, Uddhav Thackeray, and Aditya Thackeray. Nadda also highlighted the BJP's focus on eradicating corruption and lifting people out of poverty, as well as the party's achievements in the economy and manufacturing sector. He mentioned initiatives such as the PM Kisan Samman Nidhi, which provides financial support to farmers, and the growth of India's economy under Prime Minister Narendra Modi. Nadda was campaigning for the BJP candidate Pralhad Joshi in the Dharwad Lok Sabha constituency in Karnataka.
#JPNadda #Bjp #IndiaBloc #DynasticPolitics #Corruption #PovertyEradication #Economy #Manufacturing #PmKisanSammanNidhi #NarendraModi #Campaigning #DharwadLokSabhaConstituency #Karnataka
https://m.economictimes.com/news/elections/lok-sabha/karnataka/leaders-of-india-bloc-are-either-in-jail-or-bail-j-p-nadda/articleshow/109479948.cms
Moscow says US aid to Ukraine, Israel, Taiwan will 'exacerbate global crises'
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Moscow criticizes US aid to Ukraine, Israel, and Taiwan, stating that it will worsen global crises. Russia's presidential spokesman Dmitry Peskov claims that the aid to Ukraine will enrich the US and harm Ukraine. Maria Zakharova, a spokesperson for the Russian Foreign Ministry, describes aid for Kyiv as support for terrorist activities and interference in China's internal affairs. The US House of Representatives passed legislation providing aid to Ukraine and Israel, while also threatening a ban on TikTok if it fails to divest from Beijing.
#UsAid #Ukraine #Israel #Taiwan #GlobalCrises #Russia #DmitryPeskov #MariaZakharova #China #Tiktok
https://m.economictimes.com/news/defence/moscow-says-us-aid-to-ukraine-israel-taiwan-will-exacerbate-global-crises/articleshow/109469706.cms
Israel PM says US military aid vote 'defends Western civilization'
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Israeli Prime Minister expressed gratitude for the US Congress passing a $13 billion aid bill that demonstrates strong bipartisan support for Israel and defends Western civilization. The aid package is allocated for Israel's war against Hamas, despite international concern for the fate of civilians in Gaza. Israel Katz, the Minister of Foreign Affairs, stated that the vote on the aid package strengthens the ties and strategic partnership between Israel and the US and sends a strong message to their enemies. The Prime Minister thanked House Speaker and House Minority Leader Hakeem Jeffries for their support in passing the aid package.
#Israel #Us #MilitaryAid #BipartisanSupport #WesternCivilization #Hamas #Gaza
https://m.economictimes.com/news/defence/israel-pm-says-us-military-aid-vote-defends-western-civilization/articleshow/109469568.cms
A look at what's in the $95 billion foreign aid package passed by the House
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The $95 billion foreign aid package passed by the House includes about $61 billion for Ukraine and replenishing weapons stockpiles, $26 billion for supporting Israel and providing humanitarian relief for people in Gaza, and $8 billion for helping U.S. allies in the Indo-Pacific region and countering China. The package is expected to be passed by the Senate in the coming week. Speaker of the House Mike Johnson, R-La., proposed the package to aid Ukraine, Israel, and Taiwan. The overall amount provided to Ukraine for the purchase of weapons would be $13.8 billion, with more than $9 billion of economic assistance in the form of "forgivable loans." About $4 billion of the aid for Israel would be dedicated to replenishing its missile defense systems, and more than $9 billion would go toward humanitarian assistance in Gaza. The aid for U.S. allies in the Indo-Pacific region includes more than $3.3 billion for submarine infrastructure and development, and $1.9 billion to replenish U.S. weapons provided to Taiwan and other regional allies.
#ForeignAid #House #Ukraine #Israel #Gaza #Indopacific #China
https://m.economictimes.com/news/international/world-news/a-look-at-whats-in-the-95-billion-foreign-aid-package-passed-by-the-house/articleshow/109469233.cms
Kremlin: US House passage of Ukraine aid bill will hurt Ukraine, cause more deaths
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The Kremlin has expressed concern over the US House passage of a Ukraine aid bill, stating that it will lead to more damage and deaths in Ukraine. The bill includes $60.84 billion in aid, including $23 billion to replenish US weapons and stocks. The package now goes to the US Senate for expected approval next week. Kremlin spokesman Dmitry Peskov warned that the decision will make the US richer, ruin Ukraine, and result in more deaths. Former Russian President Dmitry Medvedev called the approval of US aid for Ukraine expected and grounded in 'Russophobia'. Russian Foreign Ministry spokeswoman Maria Zakharova criticized the approval of aid to Ukraine, Israel, and Taiwan, stating that it would deepen crises throughout the world. The Kremlin has been in conflict with Ukraine since invading it over two years ago.
#Kremlin #Ukraine #UsHouse #AidBill #DmitryPeskov #DmitryMedvedev #MariaZakharova
https://m.economictimes.com/news/international/world-news/kremlin-us-house-passage-of-ukraine-aid-bill-will-hurt-ukraine-cause-more-deaths/articleshow/109469290.cms
Apple says it was ordered to pull WhatsApp from China app store
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Apple says it complied with China's order to remove WhatsApp and Threads from its app store due to national security concerns. The Chinese government found content on WhatsApp and Threads about China's president, Xi Jinping, that was inflammatory and violated cybersecurity laws. Several other global messaging apps, including Signal and Telegram, were also removed from the Apple App Store in China. Apple stated that it follows the laws of the countries where it operates, even when it disagrees.
#Apple #China #Whatsapp #AppStore #NationalSecurity
https://m.economictimes.com/news/international/business/apple-says-it-was-ordered-to-pull-whatsapp-from-china-app-store/articleshow/109464415.cms
UFC schedule, date: Is there any MMA event tonight?
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UFC events during weekends are very popular and fans are curious to whether there will be an event this week or not. UFC Fight Night will be held on Las Vegas on April 27. The main event will be between Matheus Nicolau and Alex Perez for Flyweight category. This event will be available on ESPN+. UFC 301 will be held on May 4 in Rio de Janeiro. The event will be between Alexandre Pantoja and Steve Erceg for flyweight title. The event will be available on ESPN+ for pay-per-view. Alex Pereira knocked out Jamahal Hill and retained his light heavyweight title at UFC 300 in Las Vegas. Zhang Weili also prevailed in a title bout, holding on to her women's strawweight belt with a win over Yan Xiaonan. Max Holloway and Arman Tsarukyan won their lightweight fights, while Bo Nickal was victorious in middleweight action.
#Ufc #Mma #UfcFightNight #Ufc301 #Espn+
https://m.economictimes.com/news/international/us/ufc-schedule-date-is-there-any-mma-event-tonight/articleshow/109461347.cms
US sanctions 3 Chinese firms and one from Belarus for providing ballistic missile components to Pakistan
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The US has sanctioned three China-based companies and one from Belarus for supplying missile-related items to Pakistan's ballistic missile program. The named companies include Xi'an Longde Technology Development, Tianjin Creative Source International Trade, and Granpect Co. Ltd from China, and Minsk Wheel Tractor Plant from Belarus. These entities have engaged in activities that contribute to the proliferation of weapons of mass destruction by Pakistan. China has been the main supplier of arms and defense equipment to Pakistan. Minsk Wheel Tractor Plant supplied special vehicle chassis to Pakistan's long-range ballistic missile program. Xi'an Longde Technology Development Company Limited supplied missile-related equipment, including a filament winding machine, to Pakistan's long-range ballistic missile program. Tianjin Creative Source International Trade Co Ltd supplied missile-related equipment to Pakistan's long-range ballistic missile program. Granpect Company worked with Pakistan's SUPARCO to supply equipment for testing large-diameter rocket motors.
#UsSanctions #China #Belarus #Pakistan #BallisticMissileComponents
https://m.economictimes.com/news/defence/us-sanctions-3-chinese-firms-and-one-from-belarus-for-providing-ballistic-missile-components-to-pakistan/articleshow/109452795.cms
Tech jobs dwindle with India's top IT firms cutting workforce by 64,000
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India's top IT firms, including Infosys, Wipro, and TCS, have collectively reduced their workforce by almost 64,000 employees in the financial year ending in March. Infosys predicts a meagre 1% to 3% annual revenue growth, while Wipro anticipates a potential revenue decline of 1.5% in the June quarter. The reduction in headcount is attributed to the industry's corrective measures following the excessive hiring spree during the Covid pandemic and the ongoing contraction in demand. The US economy remains robust, but US enterprises are apprehensive about a possible economic slowdown or recession, impacting their IT investment decisions. The decline in headcount is also attributed to shifting demand dynamics and improved operational efficiency. The role of Gen AI in reshaping IT staffing demands is highlighted, with the potential elimination of routine-based testing and coding roles in the coming years. However, the expansion of global capability centers (GCCs) of multinational corporations in India continues to contribute to employment opportunities in the tech sector.
#ItIndustry #Workforce #RevenueGrowth #DemandDynamics #OperationalEfficiency #GenAi #GlobalCapabilityCenters
https://m.economictimes.com/jobs/fresher/tech-jobs-dwindle-with-indias-top-it-firms-cutting-workforce-by-64000/articleshow/109450106.cms
Worsening US debt outlook seen more in gold and bitcoin than in bonds
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Concerns about the rapidly rising U.S. government debt is driving surges in gold prices and bitcoin. The U.S. budget deficit widened to $1.7 trillion in 2023 and is projected to reach $2.6 trillion by 2034. U.S. government debt held by the public is on pace to reach a record 106% of GDP in 2028. The unchecked growth of U.S. government debt is gaining more attention as payments also take a larger bite of the government's budget. The worsening trajectory has boosted interest in bitcoin and gold as a hedge against the depreciating purchasing power of the U.S. currency. The rising debt and deficit are expected to lead to policies including yield curve control to prevent a debt crisis. Treasury market indicators show that bonds are not pricing in a worsening fiscal outlook. Treasury investors still see the dollar as the reserve currency and Treasuries as relatively safe. Bitcoin has been buoyed by new exchange-traded funds (ETFs) and is approaching a halving. Gold surge is driven by expectations of central bank cuts and purchases by foreign central banks diversifying their reserves. The worsening U.S. fiscal situation remains a key driver for some investors.
#UsDebt #Gold #Bitcoin #Bonds #FiscalOutlook #TreasuryMarket #YieldCurveControl
https://m.economictimes.com/markets/cryptocurrency/worsening-us-debt-outlook-seen-more-in-gold-and-bitcoin-than-in-bonds/articleshow/109439946.cms
Iran-Israel war or election jitters? Why FIIs decamped with Rs 20,000 crore in 4 days
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Foreign institutional investors (FIIs) withdrew Rs 20,000 crore in just 4 trading sessions amid rising bond yields, Iran-Israel war, and India-Mauritius tax tweak. The stress points for FIIs are the rising bond yields and a tweak in the India-Mauritius tax treaty. The Nifty has lost about 3.5% of its value in the last 5 days. Market expert Ajay Bagga predicts another 2-3% cut is possible. The main risk to India and other oil importers is the oil price. Brent crude oil prices have rallied around 14% so far in the calendar year and were last trading around the $88 a barrel mark. The US Treasury yields remain around the critical 4.55% mark. The yield on the benchmark 10-year bond in India had hit 7.2274%, the highest level since January 8. US Fed policymakers now agree that there is no rush to cut interest rates following strong growth in jobs and robust retail spending. Wall Street has begun to price in fewer and delayed rate cuts. Another issue haunting investors is the inking of a protocol to tweak a treaty to impose higher scrutiny on investments made in India via Mauritius. The impact of the amendment may be limited as the share of Mauritius funds in the total FPI equity assets under management is less than 6%.
#Fiis #BondYields #IranisraelWar #IndiamauritiusTaxTreaty #Nifty #OilPrices #UsTreasuryYields #UsFedRateCuts #MauritiusFunds
https://m.economictimes.com/markets/stocks/news/iran-israel-war-or-election-jitters-why-fiis-decamped-with-rs-20000-crore-in-4-days/articleshow/109427769.cms
US embassy in Israel tells employees to limit movement
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The US embassy in Israel has instructed its employees and their families to limit their movements following reports of an Israeli strike inside Iran. The embassy has restricted personal travel outside the greater Tel Aviv area, as well as the Jerusalem, Beersheva, and West Bank areas, due to security concerns. The advisory also states that the embassy may further restrict or prohibit travel to parts of Israel, Jerusalem's Old City, and the occupied West Bank.
#UsEmbassy #Israel #EmployeeMovements #SecurityConcerns
https://m.economictimes.com/news/international/world-news/us-embassy-in-israel-tells-employees-to-limit-movement/articleshow/109425996.cms
Iran's Progress Towards Nuclear Weapons
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Iran's nuclear program advancements prompt international concern. The 2015 deal collapse led to uranium enrichment violations, raising doubts about Iran's nuclear intentions and capabilities. Iran denies having a nuclear weapons program, but has breached all the key restrictions of the 2015 deal. It is now enriching uranium to up to 60% purity and has enough material for two nuclear weapons. The International Atomic Energy Agency (IAEA) can no longer fully monitor Iran's production and inventory of centrifuges. The question of weaponization and how long it would take Iran to produce the rest of a nuclear weapon remains uncertain. Estimates vary between months and about a year. Iran had a coordinated nuclear weapons program that it halted in 2003, but there are concerns about the correctness and completeness of Iran's safeguards declarations. There are no concrete indications of a secret enrichment site. Iran's "breakout time" to produce enough fissile material for a nuclear bomb is close to zero, likely a matter of weeks or days.
#Iran #NuclearWeapons #UraniumEnrichment #Iaea #Weaponization
https://m.economictimes.com/news/defence/irans-progress-towards-nuclear-weapons/articleshow/109417669.cms
Nagarro hits $1 billion revenue mark in FY23
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Nagarro, a Munich-based products engineering company, crossed the $1 billion revenue mark in financial year 2023, growing 9.4% year-on-year on a constant currency basis. The company's revenue increased from about $908 million in 2022. Nagarro aims to reach $10 billion in ten years and is focusing on AI, India, and sector transformations. Major clients include Lufthansa and New York City. The company sees opportunities for growth in markets beyond Europe and North America, particularly in India. Nagarro is investing in artificial intelligence to drive greater responsiveness, efficiency, creativity, personalization, and sustainability in every industry. The company is listed independently on the Frankfurt Stock Exchange and has more than doubled its revenue in the past three years. Two-thirds of its revenue comes from digital services, customer experience, and ecommerce offerings. The company has 18,000 employees, with 13,000 in India and 20 offices in the country.
#Nagarro #Revenue #FinancialYear2023 #Growth #Ai #India #Lufthansa #NewYorkCity
https://m.economictimes.com/tech/information-tech/nagarro-hits-1-billion-revenue-mark-in-fy23/articleshow/109336256.cms
Sensex declines 500 points on US rate cut outlook, Middle East tensions; Nifty below 22,200
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Indian equities declined following Asian markets, anticipating U.S. rate cut delay amidst Middle East tensions. BSE Sensex dropped 534 points, Nifty50 153 points. Leading decliners: NTPC, Bajaj Finance, Infosys, Axis Bank, TCS. The BSE Sensex was trading 534 points or 0.72% lower at 72,868. Nifty50 was trading at 22,119, down 153 points or 0.69% at around 9.17 am. Jio Financial Services rose 5% after the company entered into a new joint venture (JV) with U.S.-based BlackRock Inc to set up a wealth management and broking business in India. Asian markets opened lower on Tuesday, following a lower close in the Wall Street overnight, after stronger-than-expected U.S. retail sales data added to fading expectations of an early Federal Reserve rate cut.
#Sensex #Nifty #UsRateCut #MiddleEastTensions #Bse #Ntpc #BajajFinance #Infosys #AxisBank #Tcs #JioFinancialServices #Blackrock #AsianMarkets #WallStreet #FederalReserve
https://m.economictimes.com/markets/stocks/news/sensex-declines-500-points-on-us-rate-cut-outlook-middle-east-tensions-nifty-below-22200/articleshow/109331906.cms
Pakistan and IMF discussing new multi-billion-dollar program, finance minister says
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Pakistan is in discussions with the IMF for a new multi-billion-dollar loan agreement to support its economic reform program. The finance minister aims for an extended program post the $3 billion deal. The government plans structural reforms, navigates US-China trade tensions, and emphasizes privatization drive. Pakistan is nearing the end of a nine-month, $3 billion loan program with the IMF. The country has begun negotiations for a new multi-year IMF loan program worth "billions" of dollars. The finance minister expects to request a three-year program to execute the structural reform agenda. Pakistan is balancing its trading relationships with the US and China, as it has close economic ties with both countries. The government plans to scale up its role in the trade war, similar to Vietnam. Pakistan is also in the middle of a privatization drive, with Pakistan International Airlines being the first state-owned enterprise on the list for privatization. The finance minister expects the privatization to be completed by the end of June.
#Pakistan #Imf #LoanAgreement #EconomicReform #StructuralReforms #UschinaTradeTensions #Privatization
https://m.economictimes.com/news/international/world-news/pakistan-and-imf-discussing-new-multi-billion-dollar-program-finance-minister-says/articleshow/109331922.cms
Gold edges higher as Middle East tensions lift safe-haven appetite
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Gold prices ticked up on Tuesday, hovering near record-high levels, as fears of escalating tensions in the Middle East drove investors towards the safe-haven metal. Spot gold edged up 0.1% at $2,383.37 per ounce, as of 0103 GMT. Bullion hit an all-time high of 2,431.29 on Friday. Gold futures rose 0.7% to $2,400.00 per ounce. Israelis awaited word on how Prime Minister Benjamin Netanyahu would respond to Iran's first-ever direct attack on their country, as international pressure for restraint grew amid fears of an escalation of conflict in the Middle East. U.S. retail sales increased more than expected in March amid a surge in receipts at online retailers, further evidence that the economy ended the first quarter on solid ground. San Francisco Federal Reserve Bank President Mary Daly said there's no urgency to cut interest rates, with the economy and labor market strong, and inflation still above the Fed's 2% target. State Bank of Vietnam will restart gold bar auctions after an 11-year suspension, amid efforts to increase supply of the precious metal to market. Spot silver fell 0.1% to $28.86 per ounce, platinum rose 0.8% to $969.70 and palladium lost 0.8% at $1,027.06.
#Gold #MiddleEastTensions #Safehaven #Investors #Recordhigh #EscalatingTensions #PrimeMinisterBenjaminNetanyahu #Iran #Conflict #UsRetailSales #Economy #InterestRates #Inflation #StateBankOfVietnam #Silver #Platinum #Palladium
https://m.economictimes.com/markets/commodities/news/gold-edges-higher-as-middle-east-tensions-lift-safe-haven-appetite/articleshow/109329922.cms
Dollar firms after hot retail sales, yen languishes; China data awaited
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The dollar stood just off its highest since early November against a handful of peer currencies on Tuesday, raising intervention worries as the yen languished at its lowest level since 1990 following hotter-than-expected U.S. retail sales. Market focus was also on the Chinese yuan, with a slew of top-tier economic data due out of China later in the Asian morning expected to show the world's second-largest economy slowed in the first quarter. In the U.S., retail sales rose 0.7% last month, compared with the 0.3% rise that economists polled by Reuters had forecast. The latest data has raised more questions about when the Fed could begin cutting interest rates, following robust employment gains in March and a pick-up in consumer inflation. Markets are now pricing in a 41% chance of the Fed cutting rates in July, compared with around 50% before the data, according to CME FedWatch tool. The likelihood of the first cut coming in September has bumped up to nearly 46%. The U.S. dollar index touched 106.27, the highest since Nov. 2, after the data. The Japanese yen languished under the dollar's continued strength and large interest rate differential between the two countries, breaching 154 to hit a fresh 34-year low against the dollar on Monday. Traders were on high alert for signs of yen-buying intervention from Japanese authorities. With hedge funds building up their largest bets against the currency in 17 years, a rebound in the yen could trigger a significant rally. Japanese Finance Minister Shunichi Suzuki said on Tuesday he was closely watching currency moves and will take a "thorough response as needed" after the dollar surged to a fresh 34-year high. The yen last hovered around 154.29 per dollar, not far from the new resistance level of 155. Elsewhere, the euro brushed $1.06018, the weakest since Nov. 3, as it continued to slump after the European Central Bank last week left the door open to a rate cut in June. The Australian dollar also hit a fresh low against the greenback on Tuesday, dropping to its lowest since Nov. 14 at $0.6429. The kiwi fell 0.12% to a new five-month low of $0.593. The offshore Chinese yuan was mostly unchanged at 7.2620 per dollar ahead of the key economic data releases out of China. In cryptocurrencies, bitcoin last rose 0.05% to $63,171.00.
#Dollar #Yen #China #RetailSales #InterestRates #Currency #Economy
https://m.economictimes.com/markets/forex/dollar-firms-after-hot-retail-sales-yen-languishes-china-data-awaited/articleshow/109329819.cms
West Asia tensions give Dalal Street a headache
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India's key gauges, the Nifty and Sensex, slumped more than 1% each on Monday due to mounting concerns of an escalation in the West Asia conflict. The Nifty fell 246.9 points, or 1.1%, to 22,272.50, while the Sensex declined 845.12 points, or 1.14%, to 73,399.78. The rupee closed at 83.45 per US dollar, slightly weaker than 83.41/$1 on Friday. The banking and financial shares were among the biggest losers, with the Bank Nifty retreating 1.63%. Analysts do not expect a significant retreat for stocks just yet, as recent geopolitical issues involving Iran are unlikely to cause durable shortages in oil supplies. The yield on the 10-year benchmark bond closed flat at 7.18%. The Nifty's Volatility Index (VIX) jumped 8.1% to 12.47 during the day.
#DalalStreet #Nifty #Sensex #Rupee #BankingShares #GeopoliticalTensions #OilSupplies #BondYield #Vix
https://m.economictimes.com/markets/stocks/news/west-asia-tensions-give-dalal-street-a-headache/articleshow/109328804.cms
UFOs are threatening US maritime security? Shocking details emerge
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Retired Rear Admiral Tim Gallaudet has published a report highlighting the threat of unidentified objects along the seabed to US maritime security. The report emphasizes the nation's ignorance of these objects and their potential to cause serious incidents. In 2019, the USS Omaha recorded a UFO disappearing into the ocean without a trace, verified by the Pentagon. Gallaudet argues that studying these unknown objects is scientifically valid and urges early research. The 2019 incident remains unexplained by the Department of Defense. A UFO is an unidentified flying object that may be airborne or submerged in the ocean with unknown capabilities.
#Ufos #UsMaritimeSecurity #TimGallaudet
https://m.economictimes.com/news/international/us/ufos-are-threatening-us-maritime-security-shocking-details-emerge/articleshow/109320288.cms
Europe's largest money manager Amundi says bet on India, EM stock outside China for best returns
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Amundi, Europe's largest money manager, predicts that equities in India and emerging markets outside China will offer the most appealing returns in the next 10 years. The company has downgraded its predictions on U.S. market returns, stating that investors have fully priced in growth expectations. Amundi remains cautious about the Chinese economy and anticipates a 6.8% annual return on Chinese equities. Amundi manages over 2 trillion euros ($2.13 trillion) in assets.
#Amundi #India #EmergingMarkets #China #Equities #Investment
https://m.economictimes.com/markets/stocks/news/europes-largest-money-manager-amundi-says-bet-on-india-em-stock-outside-china-for-best-returns/articleshow/109307374.cms
Salman Khan's family member for the first time speaks about the shooting incident outside the actor's residence
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Salman Khan's father, Salim Khan, dismissed the gunshots as a publicity stunt and stated that there is no need to worry. Two unidentified individuals on motorcycles fired four shots outside Salman Khan's residence in Mumbai's Bandra area. Security measures have been heightened, and authorities are searching for the suspects. It is unknown whether Salman Khan was present during the incident. The police are collecting CCTV footage to identify the perpetrators. In the past, Salman Khan has received threats, and an FIR was registered against gangsters Lawrence Bishnoi and Goldy Brar. Maharashtra Chief Minister Eknath Shinde spoke with Salman Khan and assured support, stating that the government will not tolerate anyone taking the law into their hands.
#SalmanKhan #ShootingIncident #SecurityMeasures #PublicityStunt #Threats #MaharashtraChiefMinister
https://m.economictimes.com/magazines/panache/salman-khans-family-member-for-the-first-time-speak-about-the-shooting-incident-outside-the-actors-residence/articleshow/109304123.cms
How increasing earning and wealth have made personal financial decisions truly 'personal'
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Increasing earning and wealth have led to personal financial decisions becoming more individualized. The shift towards personal financial strategies catering to personal preferences is seen in various aspects of life, such as independent choices about lives, time, money, and interests. This shift is driven by a sense of security about money, which allows individuals to let go of fears and focus on the present. The flexibility in allocating money has also increased for small entrepreneurs, who now have a clearer understanding of their earnings and business cycles. However, despite the positive outcomes, there are still negative aspects related to money, such as entitled behaviors, crony capitalism, and exploitation. The transition towards equitable and transparent decision-making in personal finance is ongoing, but there is reason to celebrate the progress made so far.
https://m.economictimes.com/wealth/personal-finance-news/how-increasing-earning-and-wealth-have-made-personal-financial-decisions-truly-personal/articleshow/109263244.cms
Investors brace for a volatile week on D-Street
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Investors are preparing for increased volatility in the coming week due to heightened geopolitical tensions. The escalating conflict between Israel and Iran is expected to impact emerging-market risk assets and commodity supply chains. India's domestic markets, which are sensitive to global oil price movements, are likely to be affected as well. Investors are advised to shift their money to safe-haven assets like gold. On Friday, India's equity indices fell over 1% each due to hotter-than-expected US March inflation data and rising geopolitical risks. The US dollar's appeal as a safe-haven asset increased, resulting in a spike in US bond yields.
#Investors #Volatility #Dstreet #GeopoliticalTensions #Israel #Iran #EmergingmarketRiskAssets #CommoditySupplyChains #SafehavenAssets #Gold #EquityIndices #UsInflationData #UsBondYields
https://m.economictimes.com/markets/stocks/news/investors-brace-for-a-volatile-week-on-d-street/articleshow/109297638.cms
Design-driven demand: Global architects sought in India's luxury real estate
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India's luxury real estate market is experiencing a growing demand for global architects as design becomes a crucial selling factor for developers and a consideration for buyers seeking international living standards. Singapore's Andy Fisher Workshop, Eco-Id Architects, HBA Designs, New York's KPF and LERA consultants, Hong Kong's Ptang Studio, UHA London, and global firm Benoy are among the architects engaged in multiple residential projects across Delhi-NCR, Mumbai, Bengaluru, and Hyderabad. The luxury segment of housing, defined by apartments priced at '4 crore and above, saw a 75% YoY growth in sales in 2023. Developers collaborating with global architecture firms include Tata Realty, DLF, Tarc, Smartworld, MVN, and Elan. The trend also includes a focus on green spaces and landscaping in residential properties.
#India #LuxuryRealEstate #Architects #Design #Developers
https://m.economictimes.com/industry/services/property-/-cstruction/design-driven-demand-global-architects-sought-in-indias-luxury-real-estate/articleshow/109294144.cms
Rebel Moon Part 2 release date on Netflix, review: Is 'Rebel Moon Part 2: The Scargiver' better than Zack Snyder's first film?
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The release date for 'Rebel Moon Part 2: The Scargiver' on Netflix is Friday, April 19. The film is the second installment in Zack Snyder's 'Rebel Moon' series. Initial reviews suggest that the second part is more refined and action-packed than the first. 'Rebel Moon Part 1' premiered in December 2023. The film stars Sofia Boutella and Djimon Hounsou. Zack Snyder is known for his CGI extravaganzas like 'Man of Steel' and 'Justice League'.
#RebelMoonPart2 #Netflix #ZackSnyder #FilmReview
https://m.economictimes.com/news/international/us/rebel-moon-part-2-release-date-on-netflix-review-is-rebel-moon-part-2-the-scargiver-better-than-zack-snyders-first-film/articleshow/109293069.cms
Retail buying in Asia including India fuels gold price momentum: Goldman Sachs
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Goldman Sachs reports that increased retail buying in Asian markets, including India, and the surge in accumulation by Central Banks in emerging markets have led to an increase in gold prices worldwide. Gold has rallied by 17 percent over the past two months despite expectations of fewer Federal Reserve rate cuts and strong growth trends. Unconventional factors, supported by current macroeconomic policies and geopolitical tensions, have been pivotal in driving gold's bullish momentum. The anticipation of potential Federal Reserve rate cuts, US election cycle, and fiscal policies further reinforce the positive trajectory of gold prices. The report expects continued bullish momentum in gold prices, highlighting the influence of unconventional factors. However, higher gold prices pose challenges for consumers, particularly in countries like India where gold holds cultural significance and impacts the economy, affecting India's trade balance and deficit.
#GoldPrices #RetailBuying #Asia #India #GoldmanSachs
https://m.economictimes.com/industry/services/retail/retail-buying-in-asia-including-india-fuels-gold-price-momentum-goldman-sachs/articleshow/109290539.cms
Retail buying in Asia including India fuels gold price momentum: Goldman Sachs
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Goldman Sachs reports that increased retail buying in Asian markets, including India, and the surge in accumulation by Central Banks in emerging markets have led to an increase in gold prices worldwide. Gold has rallied by 17 percent over the past two months despite expectations of fewer Federal Reserve rate cuts and strong growth trends. Unconventional factors, supported by current macroeconomic policies and geopolitical tensions, have been pivotal in driving gold's bullish momentum. The anticipation of potential Federal Reserve rate cuts, US election cycle, and fiscal policies further reinforce the positive trajectory of gold prices. The report expects continued bullish momentum in gold prices, highlighting the influence of unconventional factors. However, higher gold prices pose challenges for consumers, particularly in countries like India where gold holds cultural significance and impacts the economy, affecting India's trade balance and deficit.
#GoldPrices #RetailBuying #Asia #India #GoldmanSachs
https://m.economictimes.com/industry/services/retail/retail-buying-in-asia-including-india-fuels-gold-price-momentum-goldman-sachs/articleshow/109290539.cms
Lok Sabha elections as good as rigged: Development economist Jean Dreze
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Development economist Jean Dreze has stated that the Lok Sabha elections in India are as good as rigged. He mentioned that the main opposition parties in the state, such as Jharkhand Mukti Morcha, Rashtriya Janata Dal, and the Congress, are systematically targeted, with their leaders facing scrutiny and harassment by central agencies. Dreze also highlighted the chronic failure of Indian democracy, stating that it is incompatible with the economic and social inequalities in the country. He recommended a radical overhaul of the schooling system in Jharkhand and revitalizing the National Rural Employment Guarantee Act (NREGA) to address poverty and backwardness in the state. Dreze emphasized the need for political leadership and a shift towards harnessing local resources for sustainable and equitable development.
#LokSabhaElections #JeanDreze #Jharkhand #OppositionParties #IndianDemocracy #Poverty #Backwardness
https://m.economictimes.com/news/elections/lok-sabha/india/lok-sabha-elections-as-good-as-rigged-development-economist-jean-dreze/articleshow/109288501.cms
Glenmark recalls 6,528 bottles of blood pressure drug in US
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Glenmark Pharmaceuticals is recalling 6,528 bottles of Diltiazem Hydrochloride extended-release capsules, a medication used to treat high blood pressure, in the US market. The recall is due to failed dissolution specifications in a long-term stability study. The affected lot, produced in India, is being recalled by Glenmark Pharmaceuticals Inc. The recall was initiated on March 26, 2024. India is the largest supplier of pharmaceuticals globally, with a 20% share in the global supply across 60 therapeutic categories.
#GlenmarkPharmaceuticals #BloodPressureDrug #Recall #DiltiazemHydrochloride #UsMarket #India
https://m.economictimes.com/industry/healthcare/biotech/pharmaceuticals/glenmark-recalls-6528-bottles-of-blood-pressure-drug-in-us/articleshow/109287094.cms
Ambedkar Jayanti 2024: Wishes, greetings, and quotes
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Bhimrao Ramji Ambedkar, popularly known as Babasaheb, was born on April 14, 1891. He was a significant figure in Indian history, championing the rights and dignity of marginalized communities. He was a lawyer, politician, scholar, and the chief architect of the Indian constitution. He was honored with India's highest civilian award, the Bharat Ratna. On Ambedkar Jayanti, people are encouraged to pay homage to his memory and uphold his legacy by advocating for equality, inclusivity, and dignity. The article provides a collection of images, quotes, cards, wishes, messages, greetings, pictures, and GIFs to share with loved ones on this occasion.
#AmbedkarJayanti #BhimraoRamjiAmbedkar #IndianHistory #Equality #Inclusivity #Dignity #BharatRatna
https://m.economictimes.com/news/new-updates/ambedkar-jayanti-2024-wishes-greetings-and-quotes/articleshow/109285198.cms
Silver price at lifetime high. Will the rally continue?
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Silver prices in the domestic market are at lifetime highs amid multiple catalysts like safe-haven demand due to escalating geopolitical tensions, hopes of US interest rate cuts, speculative buying, and a sharp rally in industrial metals. In the key MCX futures platform, prices reached an all-time high of Rs 84,515/kg last week, gaining about 12% in the last two weeks. The ongoing momentum-driven buying is likely to extend in the immediate run, driven by a robust rally in gold. Expectations of interest rate cuts, escalating geopolitical tensions, and enduring inflation concerns could help prices stay firm. However, it is less unlikely to register fresh lifetime highs in its key international market.
#SilverPrice #Rally #Gold #McxFutures #InterestRateCuts #GeopoliticalTensions #Inflation
https://m.economictimes.com/markets/commodities/news/silver-price-at-lifetime-high-will-the-rally-continue/articleshow/109284594.cms
9 deadly Iranian missiles that can target Israel and U.S. bases in the Middle East
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Iran has unveiled a range of missiles capable of crossing the Red Sea and striking prominent cities in Israel and U.S. bases in the Middle East. The missiles include the Sejjil missile, Khaibar missile, Emad missile, Shahab-3 missile, Ghadr-110 missile, Paveh missile, Fattah-2 missile, Kheibar Shekan missile, and Haj Qasem missile. These missiles have different ranges, payloads, and capabilities, and pose a significant threat to regional powers, particularly Israel. The ongoing conflict between Israel, the United States, and Iran continues to escalate tensions in the Middle East.
#Iran #Missiles #Israel #UsBases #MiddleEast
https://m.economictimes.com/news/international/us/9-iranian-missiles-that-can-target-israel-and-us-bases-in-the-middle-east/articleshow/109238016.cms
Israel attacked by Iran: India calls for restraint, issues statement
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India has issued a statement calling for restraint and de-escalation in the escalating tensions between Israel and Iran. The statement expresses concern over the hostilities between the two countries and emphasizes the need for peace and security in the region. India is closely monitoring the situation and its embassies in the region are in touch with the Indian community. The tensions began with Iran's drone strike on Israel in apparent retaliation for an attack on its embassy in Damascus. Iran's allies in the region, including Yemen's Huthi rebels, also joined the attack. The statement concludes by emphasizing the importance of maintaining security and stability in West Asia.
#Israel #Iran #India #Restraint #Deescalation #Tensions #Peace #Security #Embassies #Monitoring #Retaliation #Attack #Allies #Yemen #HuthiRebels #WestAsia
https://m.economictimes.com/news/international/world-news/israel-attacked-by-iran-india-calls-for-restraint-issues-statement/articleshow/109281364.cms
Biden cuts weekend trip short for urgent Middle East consultations
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President Biden cut short a weekend trip to Delaware on Saturday for urgent consultations in Washington on the growing tensions in the Middle East. Iran has vowed retaliation after an Israeli strike on April 1 leveled an Iranian diplomatic building in Damascus, killing seven members of the Revolutionary Guards, including two generals. US officials have warned of a significant attack on Israel in response. Tensions escalated further when Iran's Revolutionary Guards seized a container ship near the Strait of Hormuz. The White House called on Iran to release the vessel and its crew immediately. The Strait of Hormuz is a crucial shipping route for global oil consumption. The top US commander for the Middle East traveled to Israel for talks on security threats earlier this week.
#Biden #MiddleEast #Iran #Israel #Tensions #RevolutionaryGuards #StraitOfHormuz #Shipping #SecurityThreats
https://m.economictimes.com/news/international/world-news/biden-cuts-weekend-trip-short-for-urgent-middle-east-consultations/articleshow/109276383.cms
Los Angeles Lakers vs New Orleans Pelicans live streaming, start time, where to watch NBA game
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The Los Angeles Lakers will play against the New Orleans Pelicans in an NBA game on Sunday. The match will be live telecast on ESPN. CJ McCollum and the New Orleans Pelicans are aiming for a positive outcome to boost their playoffs chances. LeBron James and Anthony Davis led the Lakers to a win against the Memphis Grizzlies. The Lakers are already assured of making the Western Conference play-in round of the postseason. The game will take place on Sunday, April 14.
#Nba #LosAngelesLakers #NewOrleansPelicans #LiveStreaming #StartTime #Espn
https://m.economictimes.com/news/international/us/los-angeles-lakers-vs-new-orleans-pelicans-live-streaming-start-time-where-to-watch-nba-game/articleshow/109276246.cms
Tiger Woods makes Masters history with 24th consecutive cut
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Tiger Woods defies odds at the Masters, showcasing his unwavering determination and skill. His remarkable performance and endurance under tough conditions highlight his legendary status in the world of golf. Woods battled out an even 72 on Friday, prevailing from what felt like a constant exchange of heavyweight punches. He has never missed a cut at the Masters as a professional, reaching the weekend for a record 24th consecutive time. Woods surpassed Gary Player and Fred Couples to take sole possession of another monumental record. The weather at Augusta on Friday was challenging, with gusts of up to 30 miles per hour. Many golfers struggled, including Justin Thomas, Wyndham Clark, Brian Harman, Bubba Watson, Jordan Spieth, Sergio Garcia, and Dustin Johnson, who were all cut. Woods played a bruising round, but managed to stay in contention. He expressed his determination to win the tournament and his gratitude for the opportunity to compete.
#TigerWoods #Masters #Golf
https://m.economictimes.com/news/sports/tiger-woods-makes-masters-history-with-24th-consecutive-cut/articleshow/109275754.cms
Did OJ Simpson make any confession before passing away? Family breaks silence
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OJ Simpson's family has revealed that he did not make any deathbed confession before passing away from cancer. The former NFL star passed away at the age of 76 after a long battle with the disease. Despite his controversial past, including being charged with murdering his ex-wife in 1994, there were no significant revelations made by Simpson in his final moments. Simpson had a successful NFL career, playing for teams like the Buffalos and the San Francisco 49ers, and achieving the NFL Most Valuable Player title. After retiring, he appeared in films and television and worked as a sports broadcaster.
#OjSimpson #Nfl #DeathbedConfession #Cancer
https://m.economictimes.com/news/international/us/did-oj-simpson-make-any-confession-before-passing-away-family-breaks-silence/articleshow/109275219.cms
Work-from-home era is bad for thieves. They find a new target
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The number of burglaries in the US fell 9.8% last year, marking the 12th consecutive annual decline and the 29th in the last 35 years. Adjusted for population, burglaries are down 86% since 1980, 52% since 1960, and 29% since just before the pandemic in 2019. The decline in burglaries is attributed to improved home security, including internet-linked alarm systems and doorbell cameras. The work-from-home trend has also contributed to the decline in burglaries, as burglars try to avoid dwellings with people in them. The percentage of paid workdays worked from home more than doubled in the US from the early 2000s to 2019. A study in England and Wales found that neighborhoods with residents more likely to work from home experienced steeper burglary declines. The decline in burglaries has resulted in economic gains and improved well-being for communities. However, there has been an increase in online property crime during the pandemic.
#Burglaries #Workfromhome #HomeSecurity #CrimeRates
https://m.economictimes.com/news/international/world-news/work-from-home-era-is-bad-for-thieves-they-find-a-new-target/articleshow/109274972.cms
Are Israel and Iran headed for a war? Know what can happen
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The Middle East conflict between Israel and Iran is escalating, with Iran threatening to attack Israel and Israel preparing for potential direct assault. The conflict stems from a suspected Israeli strike on an Iranian consular building in Syria that killed 12 people. The situation poses risks of wider conflict and economic impact, including inflationary pressures in the global economy. The United States has expressed support for Israel and warned Iran not to proceed. Iran has seized an Israel-linked ship near the Strait of Hormuz. The state of play involves threats and calls for restraint from various countries, including the US, Russia, Germany, and Britain. The conflict has spread across the Middle East, with Iran-backed groups declaring support for the Palestinians and waging attacks from Lebanon, Yemen, and Iraq. The exact nature of Iran's retaliation remains uncertain, but experts suggest that Iran has various options, including direct attacks on Israeli targets or deniable strikes through armed groups it backs. The conflict has the potential to escalate into a wider war, with implications for global oil prices and inflation. The Reserve Bank of India has cited the conflict as a risk to price stability and has maintained its policy interest rates. The situation is fluid, and miscalculations could lead to unintended consequences.
#Israel #Iran #War #MiddleEast #Conflict #Retaliation #Escalation #EconomicImpact #Inflation #GlobalEconomy #StraitOfHormuz #UnitedStates #Russia #Germany #Britain #OilPrices #ReserveBankOfIndia
https://m.economictimes.com/news/india/are-israel-and-iran-headed-for-a-war-know-what-can-happen/articleshow/109273932.cms
US blacklists four Chinese tech apps for helping military in China
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The US Commerce Department has blacklisted four Chinese companies for supplying AI chips to China's military. The blacklisted companies are Linkzol (Beijing) Technology Co, Xi'an Like Innovative Information Technology Co, Beijing Anwise Technology Co, and SITONHOLY (Tianjin) Co. China denies the allegations and vows to take necessary steps to safeguard its interests. The US has also imposed export restrictions on five other companies accused of aiding drone production for Russia and Iran.
#UschinaTensions #ChineseTechCompanies #MilitaryTechnology
https://m.economictimes.com/news/international/world-news/us-blacklists-four-chinese-tech-apps-for-helping-military-in-china/articleshow/109262878.cms
US, Japan, Philippines trilateral deal to change dynamic in South China Sea, Marcos says
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Philippine President Ferdinand Marcos Jr. highlighted the significance of a cooperation agreement between the Philippines, the United States, and Japan, stating that it would change the dynamic in the South China Sea and the region. The agreement, following the first trilateral summit between the nations, aimed to deepen economic and security relations without targeting any specific country. Marcos emphasized that the summit's focus was on enhancing cooperation rather than confrontation. The three leaders expressed "serious concerns" about China's "dangerous and aggressive behavior" in the South China Sea. China claims almost the entire South China Sea despite a 2016 ruling by the Permanent Court of Arbitration found Beijing's sweeping claims had no legal basis. Philippine and Chinese ships have had a series of run-ins in the past month. Marcos expressed confidence that around $100 billion in possible investment deals over the next five to 10 years from the summit will come into fruition. Marcos also met with Defense Secretary Lloyd Austin, who assured him of continued U.S. support.
#SouthChinaSea #Philippines #UnitedStates #Japan #CooperationAgreement #SecurityRelations #China
https://m.economictimes.com/news/defence/us-japan-philippines-trilateral-deal-to-change-dynamic-in-south-china-sea-marcos-says/articleshow/109262600.cms
U.S. Steel shareholders approve $14.9 bln buyout by Nippon Steel
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U.S. Steel shareholders have approved the $14.9 billion acquisition of the company by Japan's Nippon Steel. Over 98% of votes favored the deal, which will see Nippon pay $55 per share. The acquisition has faced political opposition due to national security concerns, but President Biden has expressed the need for U.S. Steel to remain domestically owned. The deal is expected to face scrutiny from regulators and criticism from the United Steelworkers union. Nippon has pledged no job cuts and plans to move its U.S. headquarters to Pittsburgh.
#UsSteel #NipponSteel #Acquisition #Shareholders #PresidentBiden #Regulators #UnitedSteelworkers #JobCuts #Pittsburgh
https://m.economictimes.com/news/international/business/u-s-steel-shareholders-approve-14-9-bln-buyout-by-nippon-steel/articleshow/109260645.cms
Chinese firms helping military get AI chips added to US export blacklist
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The United States has added four Chinese companies to an export blacklist for supplying AI chips to China's military. The companies are involved in providing AI chips to China's military modernization programs and military intelligence users. China criticizes the US actions, emphasizing normal economic cooperation with Russia. The US also restricted exports to five companies that were helping produce and procure drones for use by Russia in Ukraine and by Iran-backed Houthis in Red Sea shipping attacks. China opposes the US abusing the export blacklist and other export control tools to contain and suppress Chinese companies.
#UschinaTrade #AiChips #ExportBlacklist #China'sMilitary #Russia'sMilitary #Drones #ChinausRelations
https://m.economictimes.com/tech/technology/chinese-firms-helping-military-get-ai-chips-added-to-us-export-blacklist/articleshow/109233593.cms
US quarterly earnings to feature big growth in tech-related companies
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Big technology-related company earnings are expected to lead S&P 500 profit growth in the upcoming US reporting period. Analysts expect S&P 500 companies to report earnings increased 5% in Q1 2024 from a year earlier. Earnings from some big US banks start the reporting period, followed by results from Netflix, Procter & Gamble, UnitedHealth, and Travelers Cos. Earnings for the communication services sector are forecast to have risen 26.7% from a year ago, while the technology sector is expected to have climbed 20.9% in Q1. Investors remain optimistic about artificial intelligence, with the Nasdaq reaching a record high close in late February. The S&P 500 is up roughly 9% year to date but down about 1% so far for April. The US Labor Department reported strong consumer price readings, leading some investors to believe the Fed might delay cutting rates until September. Energy, materials, and healthcare sectors are expected to have had the biggest declines in earnings year-over-year in Q1. Profit growth for all of 2024 is seen at 9.8%.
#UsQuarterlyEarnings #TechrelatedCompanies #S&p500 #EarningsGrowth #TechnologySector #CommunicationServicesSector #ArtificialIntelligence #Nasdaq #ConsumerPriceReadings #Fed #ProfitGrowth
https://m.economictimes.com/markets/stocks/news/us-quarterly-earnings-to-feature-big-growth-in-tech-related-companies/articleshow/109231363.cms
Oil consolidates gains amid concerns of worsening Middle East crisis
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Oil prices held steady in early Asian trading on Thursday after gaining a dollar a barrel in the prior session as investors braced for a worsening of the crisis, potentially involving Iran, the third-largest oil producer in OPEC. Brent crude futures advanced by 4 cents to $90.52 a barrel by 0047 GMT, while U.S. West Texas Intermediate crude futures were up 2 cents at $86.24 a barrel. Both contracts rose more than 1% in the prior session after three sons of a Hamas leader were killed in an Israeli airstrike in Gaza, feeding worries that ceasefire talks between the two sides might stall. Furthermore, the region is on alert for possible Iranian retaliation over a suspected Israeli air strike on Iran's embassy in Syria at the start of the month. A Bloomberg report on Wednesday said the U.S. and its allies believe major missile or drone strikes by Iran or its proxies against Israel are imminent. U.S. Secretary of State Antony Blinken has told Israeli Defense Minister Yoav Gallant that the United States will stand with Israel against any threats by Iran, the U.S. State Department said later on Wednesday. "The market has become increasingly concerned that the Israel-Hamas war could escalate across the Middle East, putting oil at risk," ANZ analyst Daniel Hynes said. Oil traders will also be looking out for a monthly oil market report from the Organization of the Petroleum Exporting Countries (OPEC) due to be published later on Thursday, and the IEA's oil market report due on Friday.
#Oil #MiddleEast #Crisis #Iran #Opec
https://m.economictimes.com/markets/commodities/news/oil-consolidates-gains-amid-concerns-of-worsening-middle-east-crisis/articleshow/109211485.cms
Invesco plans to exit MF business in India
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US asset manager Invesco plans to sell its remaining 40% stake in its Indian mutual fund business to IndusInd International Holdings (IIHL) as part of its plan to exit the Indian market. Invesco can exercise the put option to sell its stake over the next three years, but not within the next 18 months due to a lock-in clause. Invesco's exit from the mutual fund business in India will prevent it from re-entering the market for two years. The deal also requires Invesco to settle a securities law violation case with the Securities and Exchange Board of India (SEBI). IIHL has valued Invesco Asset Management India at Rs 2,100-2,500 crore. Invesco entered India's mutual fund industry in 2012 and is currently the fifth largest foreign player in the country.
#Invesco #MutualFunds #India #IndusindInternationalHoldings #Exit #SecuritiesLawViolation #Sebi
https://m.economictimes.com/mf/mf-news/invesco-plans-to-exit-mf-business-in-india/articleshow/109205104.cms
China labels US comments on Taiwan and AUKUS 'dangerous'
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China's government has criticized comments by a senior U.S. diplomat that the submarine project between Australia, Britain, and the United States could help deter any Chinese move against Taiwan. China claims Taiwan as its own territory and views foreign interference in the issue as a threat to peace and stability in the region. The U.S., Britain, and Australia formed the AUKUS pact in 2021 to push back against China's growing power in the Indo-Pacific region. China has called the AUKUS pact dangerous and warned it could spur a regional arms race.
#China #Taiwan #Aukus #Us #Diplomacy #SubmarineProject
https://m.economictimes.com/news/defence/china-labels-us-comments-on-taiwan-and-aukus-dangerous/articleshow/109186182.cms
PM Narendra Modi has become face of India; development and economy improved: Congressman Sherman
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US Congressman Brad Sherman praises PM Narendra Modi for India's economic progress since 2014. Sherman highlights the strengthening of the India-US relationship and advocates for stronger trade relations and a fair business environment in India. He also mentions the challenge posed by India's defense relationship with Russia. Sherman has been working on the India-US relationship for the last 28 years and emphasizes the need for an Indian consulate in Los Angeles.
#PmNarendraModi #IndiausRelationship #EconomicProgress #TradeRelations #FairBusinessEnvironment #DefenseRelationship #Russia #IndianConsulate
https://m.economictimes.com/news/india/pm-narendra-modi-has-become-face-of-india-development-and-economy-improved-congressman-sherman/articleshow/109184534.cms
AI PCs running LLMs without net to solve data privacy issues: Dell executive
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Artificial intelligence-powered personal computers are enabling users to run large language models (LLMs) without the need for WiFi/internet or cloud processing, mitigating concerns over data privacy, according to Raj Kumar Rishi, vice-president and managing director of consumer & small business at Dell Technologies. Dell has unveiled its AI-enabled laptop range powered by Intel's latest three-part core processor with a CPU, GPU, and NPU (neural processing unit). The laptops, targeted towards professionals, creators, gamers, and students, can run LLM applications such as Stable Diffusion, Adobe Premiere Pro, and Audacity more efficiently. Dell's newest AI consumer portfolio will also offer upgrades such as auto framing during video conferencing and visual enhancements of images and noise reduction. However, experts believe that PC brands will not see mass adoption in 2024 due to factors such as high pricing and limited usability of AI applications.
#AiPcs #DataPrivacy #Dell #Llms #Wifi #Internet #CloudProcessing #Laptop #Intel #Cpu #Gpu #Npu #StableDiffusion #AdobePremierePro #Audacity
https://m.economictimes.com/tech/technology/ai-enabled-pcs-enable-users-to-run-llm-apps-without-internet-dell-executive/articleshow/109169435.cms
AI SaaS cloud platform Neysa bags $20 million from Matrix Partners India, others
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Mumbai-based AI startup Neysa has raised $20 million in a funding round led by Nexus Venture Partners and NTTVC. The funds will be used to expand infrastructure, strengthen the research and development team, and support sales and marketing. Neysa, founded in 2023 by Sharad Sanghi and Anindya Das, offers a suite of generative AI platform and services to help clients manage their AI projects. The company plans to launch its platform in July and aims to become a global company in the future.
#AiStartup #Neysa #MatrixPartnersIndia #Funding #NexusVenturePartners #Nttvc
https://m.economictimes.com/tech/funding/ai-startup-neysa-raises-20-million-in-funding-from-matrix-partners-others/articleshow/109168862.cms
AI compute mission best served by marketplace model, say experts
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Experts suggest that the AI compute mission in India should be served through a marketplace model, where private players compete to offer hardware, cloud solutions, and other services. The government's role would be to enable and facilitate this marketplace, rather than acquiring and installing GPUs themselves. The government could acquire compute capacity from hyperscalers and offer it at subsidized rates to startups and researchers. However, experts caution that the government should only buy and install capacities for critical areas like defense research, while leaving the market forces to handle the deployment of GPUs. Private investors and capital allocators are better suited to take these bets, and the government should focus on providing subsidies and becoming a customer for Indian servers. The government's AI marketplace model is seen as an appropriate approach to support startups, research institutions, and other vendors in the AI ecosystem.
#AiCompute #MarketplaceModel #Government #PrivatePlayers #Hardware #CloudSolutions #SubsidizedRates #Startups #Researchers #Hyperscalers #Gpus #DefenseResearch #IndianServers #AiEcosystem
https://m.economictimes.com/tech/tech-bytes/marketplace-model-best-option-for-govt-to-offer-ai-compute-capacity-to-innovators-say-experts/articleshow/109169175.cms
America's Old Tryst With Kinich Ahau
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On Monday, millions of people in the US observed a celestial spectacle of a total solar eclipse, invoking the Mayan god Kinich Ahau. The eclipse was visible in parts of Mexico, 15 US states, and eastern Canada. The path of totality spanned over 161 km, moving from Mexico's Pacific coast to Canada. The religious fervor was evident as people took out their mobile phones to click pictures of the eclipse. This event showcases the connection between modern America and ancient Mayan traditions.
#SolarEclipse #MayanGod #KinichAhau #AncientTraditions
https://m.economictimes.com/opinion/just-in-jest/americas-old-tryst-with-kinich-ahau/articleshow/109173007.cms
Bullish on BFSI, manufacturing; don’t see Indian IT sector growing at 10-12% next year: Rohit Agarwal
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Rohit Agarwal, Senior Fund Manager at Kotak Mahindra Life Insurance, predicts a 6-7% growth for largecap Indian IT companies next year. Current valuations already account for this growth. Agarwal believes the BFSI and manufacturing sectors are still good investment opportunities. He is cautious about projecting a 10-12% growth for the Indian IT sector next year. Metals are seen as cyclical rather than structural, and the FMCG sector has underperformed due to interest rate hikes and economic factors.
#ItSector #Bfsi #Manufacturing #IndianEconomy
https://m.economictimes.com/markets/expert-view/bullish-on-bfsi-manufacturing-dont-see-indian-it-sector-growing-at-10-12-next-year-rohit-agarwal/articleshow/109159546.cms
View: India needs more leaders like Manmohan Singh
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Manmohan Singh, the former Prime Minister of India, retired from public life after a distinguished career spanning various key roles. Singh's leadership and economic reforms played a pivotal role in India's growth story. Singh successfully managed an unwieldy coalition and implemented reforms that pushed India closer to his vision for the country. Singh's caution and realism are especially relevant in today's uncertain times. India must continue to earn economic growth through reforms and pro-growth policies. Singh's generation had a clear sense of the delicate nature of the Indian project and the need to balance growth with unity and democracy. Singh's personal story and achievements speak to his strength and careful wielding of power. Singh's vision for India as a bastion of liberal democracy and economic success should be celebrated.
#ManmohanSingh #India #Leadership #EconomicReforms #Growth
https://m.economictimes.com/news/india/view-india-needs-more-leaders-like-manmohan-singh/articleshow/109153758.cms
March marks yet another record in global heat
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March 2024 was the warmest March on record globally, marking the 10th consecutive month of record-breaking temperatures. The 12-month period ending in March also ranked as the hottest on record, with the global average temperature being 1.58 degrees Celsius above pre-industrial levels. The European Union's Copernicus Climate Change Service reported that each of the last 10 months ranked as the world's hottest on record. The primary cause of the exceptional heat were human-caused greenhouse gas emissions. Other factors pushing up temperatures include El Nino, which peaked in December-January and is now weakening. Despite El Nino easing in March, the world's average sea surface temperature hit a record high, and marine air temperatures remained unusually high. Failure to reduce greenhouse gas emissions will continue to drive the warming of the planet, resulting in more intense droughts, fires, heatwaves, and heavy rainfall.
https://m.economictimes.com/news/international/world-news/march-marks-yet-another-record-in-global-heat/articleshow/109152528.cms
No need to stagger investment; put in lump sum in some of the hybrid strategies: Lakshmi Iyer
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Lakshmi Iyer, CEO of Kotak Investment Advisors, suggests strategies for lump sum investments in equity and debt portfolios, emphasizing largecap skew in equity allocation. She discusses concerns about inflation, bond yields, and foreign investors anchoring bond yields. Iyer points out that after 20 years, the future price of copper is trading about $100 higher and the seasonality of food prices will continue to weigh on sentiments. She also mentions that the US jobs data indicates no sense of urgency to cut rates yet. Iyer advises investors to consider equity savings or balanced advantage strategies for augmenting fixed income returns and recommends having a skew towards largecap stocks in an equity portfolio. She expects bond yields to have a slight uptick in the near term but does not anticipate a massive selloff. Iyer suggests adding credit risk to fixed income portfolios and locking in opportunities for short-term investments. She also mentions the importance of rebalancing and reallocating strategies in the current market.
#Investment #Equity #Debt #Inflation #BondYields #Copper #FoodPrices #UsEconomy #FixedIncome #LargecapStocks #CreditRisk #Rebalancing
https://m.economictimes.com/markets/expert-view/no-need-to-stagger-investment-put-in-lump-sum-in-some-of-the-hybrid-strategies-lakshmi-iyer/articleshow/109151547.cms
US-China tensions fragmenting trade and investment, IMF finds
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Trade flows between a US-aligned group and another linked more closely to China have declined by about 12% more than trade between countries within the same bloc since Russia’s full-scale invasion of Ukraine in 2022. Foreign direct investment projects fell by around 20% more between blocs than within blocs over the same period. The global economy is showing signs of dividing between US- and China-centered blocs, though the dynamics differ from the Cold War with less overall fragmentation and a greater role for non-aligned economies. Many non-aligned economies are benefiting from a new status as "connector" economies between the two blocs. The IMF has warned that economic damage from fragmentation may sacrifice as much as 7% of global GDP in the long term.
#UschinaTensions #Trade #Investment #Imf #Fragmentation
https://m.economictimes.com/small-biz/trade/exports/insights/us-china-tensions-fragmenting-trade-and-investment-imf-finds/articleshow/109151086.cms
Russia playing "dangerous game": US calls on Moscow to withdraw military from Ukraine's Zaporizhzhia nuclear plant
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The United States has called on Russia to withdraw its military and civilian personnel from the Zaporizhzhia nuclear power plant in Ukraine. The US is monitoring the conditions at the plant following a reported drone attack, which has not compromised nuclear safety. The US State Department spokesperson stated that Russia is playing a dangerous game with its military seizure of the plant, the largest in Europe. The Zaporizhzhia nuclear plant has VVER-1000 V-320 reactors and houses spent nuclear fuel. The facility is near the front lines, raising concerns about a potential nuclear accident. Russia and Ukraine have frequently accused each other of assaulting the plant.
#Russia #Ukraine #ZaporizhzhiaNuclearPlant #NuclearSafety #DroneAttack
https://m.economictimes.com/news/international/world-news/russia-playing-dangerous-game-us-calls-on-moscow-to-withdraw-military-from-ukraines-zaporizhzhia-nuclear-plant/articleshow/109148272.cms
Strategy reset under new Tata Digital boss; subscription play for Ola, Uber autos
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Naveen Tahiliyani, the new CEO of Tata Digital, is implementing a strategy reset by cutting costs and adopting a data-driven approach. He is fostering collaboration and participation from other group companies. Ola and Uber are launching subscription plans for auto-rickshaw drivers, replacing the traditional commission-based model. The subscription plans could potentially bypass the 5% goods and services tax (GST) applicable on auto-rickshaw rides. The Ministry of Electronics and Information Technology (MeitY) has formed working groups to develop guidelines for IoT, data safety, and digital education. Legal experts believe the proposed AI law in India will protect the interests of content creators and achieve a balance between publishers and developers of generative AI models.
#TataDigital #Ola #Uber #Autorickshaw #SubscriptionPlans #Meity #Iot #DataSafety #AiLaw
https://m.economictimes.com/tech/newsletters/morning-dispatch/strategy-reset-at-tata-digital-subscription-play-for-ola-uber-autos/articleshow/109148108.cms
Ahead of Market: 10 things that will decide D-Street action on Tuesday
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The Nifty 50 ended flat at 22,513 points, and the pattern on the daily chart suggests that the index is consolidating after a sharp run-up. India's blue-chip indices climbed to all-time highs on Monday. The NSE Nifty 50 rose 0.68% to 22,666.30, while the S&P BSE Sensex added 0.67% to 74,742.50. The 50-member Nifty has hit a record high 19 times this year. The benchmark S&P 500 and the Nasdaq struggled for direction in early trading on Monday. European shares edged up on Monday, led by Germany's DAX. The STOXX 600 index was up 0.2%. The MACD showed bullish trade on zero counter. The MACD showed bearish signs on the counters of Exide Industries, Info Edge, PNC Infratech, AmaraRaja Batteries, Sundaram Finance, and Nykaa among others. Most active stocks in value terms were Tata Motors, HDFC Bank, ICICI Bank, Reliance Industries, and Axis Bank. Most active stocks in volume terms were Tata Motors, Adani Ports, Wipro, ONGC, and HDFC Bank. Shares of Eicher Motors, Tata Motors, M&M, NTPC, Shriram Finance, and Tata Steel witnessed strong buying interest. Only two stocks Bata India and Dabur India hit their 52-week lows on Monday. Overall, market breadth favoured bears as 1,898 stocks ended in the green, while 2,033 names settled in the red.
#StockMarket #Nifty50 #S&pBseSensex #S&p500 #Nasdaq #EuropeanShares #Macd #ActiveStocks #BuyingInterest #52weekLows #MarketBreadth
https://m.economictimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-d-street-action-on-tuesday/articleshow/109140453.cms
China may disrupt elections in India using AI, warns Microsoft
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Microsoft warns of China's potential use of AI to disrupt elections in India, the US, and South Korea; Recent activities in Taiwan's presidential election raise concerns; Chinese cyber groups, including Beijing-backed Storm 1376, may target upcoming high-profile elections; Microsoft anticipates that Chinese state-backed cyber groups, along with North Korean involvement, will target high-profile elections in 2024; AI-generated TV news anchors spread misinformation, highlighting evolving cybersecurity challenges in safeguarding democratic processes.
#China #Ai #Elections #India #Microsoft
https://m.economictimes.com/news/elections/lok-sabha/india/china-may-disrupt-elections-in-india-using-ai-warns-microsoft/articleshow/109135055.cms
Pre-market action: Here's the trade setup for today's session
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The Nifty is expected to undergo further consolidation in the upcoming sessions, encountering resistance around the 22,700-22,800 levels. Support is expected around the 22,400-22,300 range. The net short of FIIs increased from Rs 33,628 crore on Thursday to Rs 35,190 crore on Friday. Benchmark indices logged a third week of gains, ending the first week of FY25 on a positive note. The outlook for the market will be guided by major global and domestic economic data, including CPI and IIP data, US inflation numbers, jobless claims, among others. India VIX, a measure of fear in the markets, rose 1.05% to settle at 11.34 levels. US stocks finished higher on Friday after a strong jobs report. FPIs were net sellers at Rs 1,136 crore for the fourth straight day on Thursday. DIIs sold shares worth Rs 893 crore. The rupee rose 8 paise to close at 83.31 against the US dollar. The article provides information on stock prices, IPOs, and other market trends.
#Nifty #Fiis #BenchmarkIndices #MarketOutlook #IndiaVix #UsStocks #Fpis #Diis #Rupee #StockPrices #Ipos
https://m.economictimes.com/markets/stocks/news/pre-market-action-heres-the-trade-setup-for-todays-session/articleshow/109116817.cms
Glacial inflation slowdown set to back US Fed rate-cut caution
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The March core consumer price index is expected to rise 0.3% from a month earlier after a 0.4% advance in February. The core price gauge is projected to have climbed 3.7% from a year ago, marking the smallest gain since April 2021. US consumer-price data is projected to show a slowdown in underlying inflation, supporting the US Federal Reserve's cautious approach to lowering interest rates. Fed officials are waiting for a clearer indication that inflation is slowing before reducing borrowing costs. The central bank is expected to hold rates steady at its next meeting on April 30-May 1.
#UsFederalReserve #Inflation #InterestRates
https://m.economictimes.com/news/international/world-news/glacial-inflation-slowdown-set-to-back-us-fed-rate-cut-caution/articleshow/109112806.cms
Israel reduces troops in south Gaza, Egypt to host new talks
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Israel has withdrawn more soldiers from southern Gaza, leaving just one brigade, as it and Hamas send teams to Egypt for fresh talks over a potential ceasefire in the six-month conflict. Israel has been reducing numbers in Gaza since the start of the year to relieve reservists and is under growing pressure from its ally Washington to improve the humanitarian situation, especially after last week's killing of seven aid workers. Both Israel and Hamas confirmed they were sending delegations to Egypt. However, Israeli Prime Minister Netanyahu warned that Israel would not bend to foreign pressure and give in to "extreme demands." Hamas says an agreement must secure a complete and comprehensive ceasefire, full withdrawal of forces from areas occupied after Oct. 7, and freedom of movement of residents across the Gaza Strip. It was unclear whether the troop reduction in south Gaza would delay a long-threatened incursion into the city of Rafah, which Israel says is needed to eliminate Hamas but anxious foreign powers have said could wreak an unacceptable toll on civilians.
#Israel #Gaza #Egypt #Ceasefire #Hamas
https://m.economictimes.com/news/defence/israel-reduces-troops-in-south-gaza-egypt-to-host-new-talks/articleshow/109111993.cms
Unemployment 'imposed by BJP' biggest issue in Lok Sabha polls: Kharge
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Congress President Mallikarjun Kharge criticizes BJP for the imposed unemployment crisis in Lok Sabha elections, proposing 'Pehli Naukri Pakki' under 'Yuva Nyay' to combat the issue. The party's manifesto focuses on justice pillars and promises various reforms, aiming to address key societal concerns. Kharge claims that unemployment is the biggest issue in the Lok Sabha elections and that the youth are struggling to find jobs. He cites the case of India's premier institutes, IITs and IIMs, where a significant number of students are not getting regular placements. The rate of youth unemployment under the Modi government has tripled since 2014. The Congress party has introduced the 'Pehli Naukri Pakki' guarantee under 'Yuva Nyay', which grants diploma or degree holders below the age of 25 a legal right to demand employment and a minimum annual salary of Rs 1 lakh. The Congress manifesto focuses on five "pillars of justice" and 25 guarantees, including the right to apprenticeship, a legal guarantee on the minimum support price (MSP) for crops, and a constitutional amendment to raise the cap on reservations for SCs, STs, and OBCs.
#Unemployment #LokSabhaPolls #Congress #Bjp #Youth #Employment #Manifesto #Reforms
https://m.economictimes.com/news/elections/lok-sabha/india/unemployment-imposed-by-bjp-biggest-issue-in-lok-sabha-polls-kharge/articleshow/109105202.cms
Bitcoin-Ether ratio flashes potential warning about crypto rally
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The ratio between the price of Bitcoin and Ether has reached its highest level since April 2021, indicating a possible waning of risk appetite in the crypto market. This could be an early signal of fear replacing FOMO (fear of missing out) if Ether is seen as a proxy for sentiment towards smaller tokens. Bitcoin reached a record high in mid-March but has since retreated about 9%, while smaller digital assets have slumped even more. Analysts suggest that a potential Bitcoin top and a loss of appetite for cryptocurrencies could signal a weaker market overall. Traders are now awaiting the Bitcoin halving event, which reduces new supply of the token, to see if it will have a bullish impact. Bitcoin is currently trading at $67,825, while Ether is at $3,340.
#Bitcoin #Ether #CryptoRally #RiskAppetite #Fomo #Sentiment #BitcoinHalving
https://m.economictimes.com/markets/cryptocurrency/bitcoin-ether-ratio-flashes-potential-warning-about-crypto-rally/articleshow/109099960.cms
Wheel Of Fortune: Pat Sajak to remain a part of the show after farewell episode| Details
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Pat Sajak, the host of 'Wheel of Fortune' since 1983, will retire after 40 years. His final episode will air on June 7, 2024. Ryan Seacrest will succeed Sajak as the host starting in the fall of 2024. Sajak will continue to be associated with the show as a consultant for three years after his retirement. The show 'Wheel of Fortune' originated in 1975 and has become one of the most-watched shows on television. Sajak and co-host Vanna White have been the faces of the show since 1983.
#WheelOfFortune #PatSajak #RyanSeacrest
https://m.economictimes.com/news/international/us/wheel-of-fortune-pat-sajak-to-remain-a-part-of-the-show-after-farewell-episode-details/articleshow/109094577.cms
US, China to launch exchanges on balanced growth, money laundering, Yellen says
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US Treasury Secretary Janet Yellen and Chinese Vice Premier Hi Lifeng have agreed to launch exchanges on balanced growth in domestic and global economies. The exchanges will facilitate a discussion around macroeconomic imbalances, including their connection to overcapacity, and Yellen intends to advocate for a level playing field for American workers and firms. Yellen's top priority during her visit to China was to persuade Chinese officials to rein in excess production capacity for electric vehicles, solar panels, and other clean energy technology. Chinese state media pushed back on her arguments, calling them a pretext for protectionist US policies. Yellen and Hi Lifeng also agreed to start a forum to cooperate on anti-money laundering efforts in their respective financial systems. Yellen is expected to speak with reporters later on Saturday.
#Us #China #BalancedGrowth #MoneyLaundering #Yellen
https://m.economictimes.com/markets/stocks/news/us-china-to-launch-exchanges-on-balanced-growth-money-laundering-yellen-says/articleshow/109083049.cms
Inside Big Tech's underground race to buy AI training data
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Tech giants like Google, Meta, and Microsoft-backed OpenAI are racing to buy AI training data. They initially used scraped data from the internet for free to train generative AI models like ChatGPT. They now face lawsuits from copyright holders. Photobucket, a former image-hosting site, is in talks with multiple tech companies to license its 13 billion photos and videos for AI training. Rates discussed range from 5 cents to $1 per photo and more than $1 per video. Tech companies are also quietly paying for content behind paywalls and login screens. The opaque AI data market is estimated to be around $2.5 billion and could grow to $30 billion in a decade. AI model makers are securing data-supply chains through deals with content owners and data brokers. Dedicated AI data firms are emerging, licensing real-world content and building networks of contract workers. Concerns are raised about user privacy and the risk of personal data being used in AI models without consent. Licensing old internet archives raises ethical issues.
#AiTrainingData #TechGiants #GenerativeAiModels #Photobucket #DataDeals #DataBrokers #UserPrivacy #EthicalConcerns
https://m.economictimes.com/tech/technology/inside-big-techs-underground-race-to-buy-ai-training-data/articleshow/109079254.cms
'The Mandalorian & Grogu': Release date and all you may like to know
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Disney's 'The Mandalorian & Grogu' will be released on May 22, 2026. The original 'Star Wars' film was released on May 25, 1977. The film will revolve around Mandalorian bounty hunter Din Djarin and Grogu, the Force-wielding alien infant. It will also feature characters like Bo-Katan Kryze, Ahsoka Tano, and Grand Admiral Thrawn. The last major 'Star Wars' film released was 'Star Wars: The Rise of Skywalker' in 2019.
#TheMandalorian #Grogu #StarWars #Disney #ReleaseDate #Film
https://m.economictimes.com/news/international/us/the-mandalorian-grogu-release-date-and-all-you-may-like-to-know/articleshow/109079039.cms
India's exports register healthy growth to European, Latin American nations in 2023
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India's merchandise exports have recorded healthy growth in European nations like Romania, Czech Republic, Montenegro, Finland, the Netherlands, Portugal, Luxemburg, Iceland, Ireland, and Austria. Indian exporters made further inroads in European and Latin American nations in 2023, registering healthy growth in countries such as Romania, Montenegro, Austria, and Guatemala. India's merchandise export rose 2.1 per cent to the European Union (EU) in 2023. India's export trade expansion has been impressive in spite of global challenges in 2023. Similarly, in Latin American countries, India's exports registered high growth in 2023 in Cuba, Uruguay, Paraguay, Guyana, Peru, Mexico, and Guatemala. The increased merchandise exports to Iraq, Saudi Arabia, and the UAE in 2023 underscores India's ability to navigate adverse economic conditions and capitalize on export opportunities. Economic think-tank Global Trade Research Initiative (GTRI) have stated that India's exports and imports have dipped 2.6 per cent to USD 1,609 billion in 2023 compared to USD 1,651.9 billion in 2022.
#India #Exports #EuropeanNations #LatinAmericanNations #Trade #EconomicGrowth
https://m.economictimes.com/news/economy/foreign-trade/indias-exports-register-healthy-growth-to-european-latin-american-nations-in-2023/articleshow/109065356.cms
Gold prices touch record high after Powell's comments
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Gold prices reached a record high after comments made by Powell. Spot gold was up 0.1% at $2,300.53 per ounce, hitting a record high of $2,302.29 earlier in the session. Bullion has hit record highs consecutively since last Thursday. Hedge funds capped the first quarter with gains across different strategies, as a rally in stocks, some commodities, and the dollar helped the industry weather a less shiny period for bonds. Traders are pricing in a 62% probability that the Fed will begin cutting rates in June. Russia's finance ministry said it would more than double its purchases of foreign currency and gold in the month ahead. Spot silver edged up 0.1% to $27.24 per ounce, platinum rose 0.2% to $938.93, and palladium gained 0.9% to $1,022.50.
#Gold #Commodities #Powell #FederalReserve #HedgeFunds #Russia #Silver #Platinum #Palladium
https://m.economictimes.com/markets/commodities/news/gold-prices-touch-record-high-after-powells-comments/articleshow/109019269.cms
Flaring crude, US yields push rupee to lowest close of 83.44
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The Indian rupee closed at a record low of 83.44 per US dollar on Wednesday, sliding from 83.38 on Tuesday. The rupee has depreciated 0.3% against the US dollar so far in 2024. The depreciation is attributed to flaring crude oil prices and higher US yields. The Reserve Bank of India (RBI) has intervened intermittently to stabilize the rupee. Brent crude futures for June gained 0.8% on Wednesday, trading at over $90 per barrel. Higher crude oil prices could widen India's trade deficit as the country is a large importer of the commodity. Open interest for aggregate futures in the dollar-rupee pair for April declined 16.9% while that for the euro-rupee pair plunged 37% on Wednesday.
#IndianRupee #CrudeOilPrices #UsYields #TradeDeficit #BrentCrudeFutures #ReserveBankOfIndia
https://m.economictimes.com/markets/forex/flaring-crude-us-yields-push-rupee-to-lowest-close-of-83-44/articleshow/109018160.cms
Baltimore ship accident has East Coast ports scrambling to absorb cargo
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The fallout from the deadly bridge collapse in Baltimore has caused the closure of the nation's 17th-largest port and the busiest gateway for vehicles. Neighboring ports along the US East Coast are modifying their operations to absorb the diverted cargo. Ports such as Norfolk, New York, and Charleston are expected to handle the additional cargo. The closure of the Baltimore port is expected to have ripple effects across the eastern US, impacting various industries and businesses. The timeline for reopening the Baltimore channel is unknown, but efforts are being made to clear the debris and establish a temporary alternate channel. The closure of the port highlights the need for more resilience and self-sufficiency in supply chains. While the immediate aftermath of the bridge collapse can be absorbed by neighboring ports, the longer-term impact is expected to be more severe.
#Baltimore #ShipAccident #EastCoastPorts #Cargo #BridgeCollapse #SupplyChains
https://m.economictimes.com/small-biz/trade/exports/insights/baltimore-ship-accident-has-east-coast-ports-scrambling-to-absorb-cargo/articleshow/108931077.cms
Dollar steady as PCE data sets up June rate cut bets; yen in focus
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The dollar remains steady as the personal consumption expenditures (PCE) price index rose 0.3% in February, slightly below economists' forecast of a 0.4% rise. This data has bolstered bets that the Federal Reserve could cut rates in June. The yen is also in focus as it hovers near 152 per dollar, raising concerns about potential intervention by Japanese authorities. Markets are now pricing in a 68.5% chance of a rate cut in June and traders are expecting a total of 75 basis points of cuts this year. Citi strategists predict that the Fed could deliver three rate cuts this year, but a further softening in labor markets could lead to five rate cuts. The euro and sterling are slightly higher against the dollar, while the dollar index remains close to a six-week high. In the cryptocurrency market, bitcoin and ether have both seen gains. The yen touched a 34-year low against the dollar last week, prompting speculation of intervention by Japanese authorities. Japan's plans for the yen remain uncertain, but Finance Minister Shunichi Suzuki has warned against excessive currency movement and said he would respond appropriately.
#Dollar #PceData #RateCut #FederalReserve #Yen #CurrencyMarket #Intervention #Euro #Sterling #Bitcoin #Ether
https://m.economictimes.com/markets/forex/dollar-steady-as-pce-data-sets-up-june-rate-cut-bets-yen-in-focus/articleshow/108928623.cms
6 Daniel Kahneman principles to follow to avoid losing money
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Daniel Kahneman, a renowned psychologist, identified six principles to help investors avoid big money losses. The principles include: 1) The Halo Effect, which refers to the tendency to like everything about a person or management towards which investors have an affinity; 2) The law of small numbers, which involves jumping to big conclusions about a stock based on limited data or sample; 3) Sunk cost fallacy, which is the tendency to keep investing in something even when it is past its prime; 4) Illusion of pundits, which is the belief in star commentators' ability to predict market movements; 5) Loss aversion, which is the preference for sure-shot but sub-optimal returns over high returns with a slight chance of loss; and 6) Overconfidence, which leads investors to believe that they won't experience losses. These principles can help investors make better decisions and avoid significant financial losses.
#DanielKahneman #Investment #FinancialDecisions #LossAversion #Overconfidence
https://m.economictimes.com/wealth/save/6-daniel-kahneman-principles-to-follow-to-avoid-losing-money/articleshow/108889362.cms
No holding back D-St from records, even if FPIs are holding back
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Foreign investors are bullish about India's prospects but are holding back due to uncertainty over the US Federal Reserve's interest rate actions and the upcoming National Elections. Lower interest rates in the US benefit emerging market equities like India. In March, foreign investors bought Indian equities worth ₹35,286.31 crore. However, April is expected to witness fewer deals and IPOs due to earnings and election season. Market participants believe that domestic flows and moderate foreign inflows will propel Indian equities to new highs in the new financial year.
#ForeignInvestors #IndianEquities #InterestRates #UsFederalReserve #NationalElections
https://m.economictimes.com/markets/stocks/news/no-holding-back-d-st-from-records-even-if-fpis-are-holding-back/articleshow/108927730.cms
Wednesday season 2 release date on Netflix: Will it premier this year?
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'Wednesday' season 2 release date on Netflix is eagerly awaited. Jenna Ortega's acting received accolades from critics and audience alike. The new season won't grace screens in 2024. Production won't conclude until November 2024. The show is unlikely to return until the spring of 2025 at the earliest. 'Wednesday' season 2 will be streaming on Netflix. There will be a second season of 'Wednesday'.
#WednesdaySeason2 #Netflix #JennaOrtega
https://m.economictimes.com/news/international/us/wednesday-season-2-release-date-on-netflix-will-it-premier-this-year/articleshow/108925098.cms
'Godzilla x Kong: The New Empire' OTT streaming, digital release date: Where and how to watch online?
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'Godzilla x Kong: The New Empire' OTT streaming and digital release date are yet to be officially announced. The film is a follow-up to the 2021 blockbuster 'Godzilla vs. Kong' and promises jaw-dropping visual effects, action sequences, and a riveting storyline. Warner Bros. typically waits 60 to 90 days after the theatrical premiere before making the movie available on its streaming platform, so fans can expect the film to hit Max in May or June. The film will also be available for purchase and rental on digital video-on-demand platforms like Amazon Prime Video and YouTube TV approximately 45 days after its theatrical debut, with the earliest availability expected in May. 'Godzilla x Kong: The New Empire' has been released in theaters worldwide.
#GodzillaXKongTheNewEmpireOnlineReleaseDate #GodzillaXKongTheNewEmpireReleaseDate #GodzillaXKongTheNewEmpireOtt #GodzillaXKongTheNewEmpireStreamingDate #GodzillaXKongTheNewEmpire
https://m.economictimes.com/news/international/us/godzilla-x-kong-the-new-empire-ott-streaming-digital-release-date-where-and-how-to-watch-online/articleshow/108924828.cms
India reaches out to critical mineral producers for processing technology
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India has reached out to key critical mineral producers, including the United States, Australia, United Kingdom, South Korea, Japan, Brazil, and Argentina, for processing technology. The move comes as India plans to develop its first critical mineral beneficiation and processing plant in the next 3-5 years. The country's advanced chemistry cell manufacturing industry requires 193 thousand tons of cathode active material annually to produce 100 GW hour annum of batteries by 2030. Critical minerals such as cobalt, graphite, lithium, and rare earth elements are essential for manufacturing components of electric vehicles and are used in various sectors. India defined its own list of 30 critical minerals in June 2023.
#India #CriticalMinerals #ProcessingTechnology #ElectricVehicles #Batteries
https://m.economictimes.com/industry/indl-goods/svs/metals-mining/india-reaches-out-to-critical-mineral-producers-for-processing-technology/articleshow/108924719.cms
PlayStation 5, Xbox X/S, PC, Nintendo Switch video games: Check what's new for gamers
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Xbox X/S, PlayStation 5, Nintendo Switch, and PC gamers can play a number of new games this week. Some of the new video games include 'Turbo Golf Racing', 'South Park: Snow Day!', and 'Open Roads'. These games are available on PlayStation 5, Xbox X/S, Nintendo Switch, and PC platforms. The gaming community is buzzing with excitement and anticipation for these new releases.
#Playstation5 #XboxX/s #Pc #NintendoSwitch #VideoGames #Gamers
https://m.economictimes.com/news/international/us/playstation-5-xbox-x/s-pc-nintendo-switch-video-games-check-whats-new-for-gamers/articleshow/108923442.cms
RBI may hold rate yet again to focus on inflation management, say experts
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Experts predict that the Reserve Bank of India (RBI) will keep the key interest rate unchanged in April to focus on bringing down inflation. The RBI's rate-setting panel, the Monetary Policy Committee (MPC), is expected to consider global cues and the stance of major economies like the US and UK. The meeting of the MPC, headed by RBI Governor Shaktikanta Das, is scheduled for April 3-5, with the decision to be announced on April 5. The RBI last hiked the interest rate to 6.5% in February 2023 and has held it at the same level in its last six bi-monthly policies. Inflation is still around 5%, and there are concerns about future shocks on the food inflation front. The GDP growth in FY24 has been better than expected, but the central bank will continue to focus on targeting inflation. The government has mandated the RBI to ensure that consumer price index (CPI) based inflation remains at 4% with a margin of 2% on either side.
#Rbi #InterestRate #Inflation #MonetaryPolicyCommittee #GdpGrowth
https://m.economictimes.com/news/economy/policy/rbi-may-hold-rate-yet-again-to-focus-on-inflation-management-say-experts/articleshow/108915710.cms
C3iHub launches startup cohorts III, IV and V to back cybersecurity firms
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C3iHub has launched startup cohorts III, IV, and V to support cybersecurity firms. The program has already supported 50 startups across five cohorts, focusing on cyber-physical systems, network security, and more. The organization aims for a 20% success rate among startups after the two-year incubation period.
#C3ihub #Startup #Cybersecurity
https://m.economictimes.com/tech/technology/c3ihub-launches-startup-cohorts-iii-iv-and-v-to-back-cybersecurity-firms/articleshow/108882491.cms
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