Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
==========

India's transition to coalition politics raises concerns about potential slowdowns in economic reforms. Rising protectionist measures from the US and EU pose challenges for Indian exporters, particularly in key sectors like textiles and apparel. India is unlikely to gain the same level of access to these markets as China once did. Stringent regulations, such as the EU's deforestation regulations and the US's complex authorisation requirements, create barriers for Indian exporters. Developed economies are deploying higher environmental and labour standards strategically to restrict trade. The potential impact of these protectionist measures on India's economic goals and objectives is disproportionate. Compliance with technical standards and regulations presents challenges and potential costs for Indian exporters, but also offers an opportunity to enhance the quality and safety of their products. The adoption of stricter environmental and labour standards for exports could have significant economic and social impacts on developing nations like India. The micro, small, and medium enterprises (MSMEs) in India may struggle to comply with very high standards, potentially limiting their access to the domestic market.

#IndianExports #Protectionism #Modi30 #Us #Eu #CoalitionPolitics #Textiles #Apparel #Regulations #EnvironmentalStandards #LabourStandards #Msmes

https://m.economictimes.com/news/economy/foreign-trade/trade-walls-are-rising/articleshow/110825010.cms 

 Wall St Week Ahead-Inflation, Fed meeting to give clues for US market direction
==========

The upcoming Fed meeting and inflation data will provide clues for the direction of the US market. The S&P 500 has risen more than 12% this year on expectations that the Fed can control inflation without harming growth. However, recent economic data has been mixed, with strong employment numbers but a slowdown in manufacturing and a lower first-quarter growth rate. Investors will closely watch the May inflation data and the Fed meeting for signals on the central bank's rate cut plans. Some investors are concerned about the concentration of gains in a few technology and growth stocks, while others believe that strong corporate results and a favorable macroeconomic environment will continue to support stocks. Political uncertainty, including the early presidential debate, may also impact market stability. The first debate between President Joe Biden and Republican challenger Donald Trump is scheduled for June 27, earlier than usual, which could shift market attention to the 2024 presidential election. Overall, the market is looking for clarity from the Fed and hopes for a rate cut sooner rather than later to avoid prolonged elevated borrowing costs that could harm the economy.

#WallStreet #Inflation #FedMeeting #UsMarket #S&p500 #EconomicData #RateCut #PresidentialElection

https://m.economictimes.com/markets/stocks/news/wall-st-week-ahead-inflation-fed-meeting-to-give-clues-for-us-market-direction/articleshow/110811945.cms 

 South Korea activists defy warning to fly balloons into North
==========

An activist group in South Korea called Fighters For Free North Korea has flown balloons into North Korea carrying leaflets criticizing leader Kim Jong Un. The group launched 10 balloons from the border town of Pocheon with 200,000 flyers, 5,000 USB sticks containing K-pop videos and dramas, and 2,000 $1 notes. This comes just days after North Korea sent thousands of balloons carrying trash in the other direction over the border. The balloons carrying leaflets and aid parcels have been released by activists in South Korea for decades. South Korean President Yoon Suk Yeol reaffirmed his pledge to build peace through strength and achieve unification. The two Koreas are still technically at war after their 1950-53 war ended in an armistice, and the North has long denounced defectors as 'human scum'.

#SouthKorea #NorthKorea #Activists #Balloons #Leaflets #KimJongUn #Defectors #Peace #Unification

https://m.economictimes.com/news/international/world-news/south-korea-activists-defy-warning-to-fly-balloons-into-north/articleshow/110755608.cms 

 Nvidia's stock market value surpasses $3 trillion
==========

Nvidia's stock price has more than doubled this year and it's now the third most valuable company in the S&P 500. The company is also about to undergo a stock split and has seen soaring demand for its semiconductors. Nvidia's total market value is $3.011 trillion as of Wednesday. The company's 10-for-1 stock split goes into effect on June 7, giving each investor nine additional shares for every share they already own. Nvidia's revenue for the most recent fiscal quarter was $26 billion, more than triple the previous year. The company's estimated net margin is 53.4%. Nvidia's stock closed at $1,224.40 on Wednesday. 



https://m.economictimes.com/tech/technology/nvidias-stock-market-value-surpasses-3-trillion/articleshow/110752383.cms 

 GIFT Nifty rises 90 points; here's the trading setup for today's session
==========

Equity markets rallied over 3% after exit polls predicted NDA's third consecutive win. Experts expect new highs and recommend focus on manufacturing, capex, infrastructure, and financials for long-term investment. GIFT Nifty traded 88 points higher at 23,555. India VIX fell 14.77% to settle at 20.94 levels. Oil prices saw a slight decline. Brent crude futures decreased by 0.3% to $78.16 per barrel. Foreign portfolio investors were net buyers at Rs 6,851 crore. The rupee gained 28 paise against the US dollar. FII net short reduced from Rs 3.18 lakh crore to Rs 1.96 lakh crore. Securities in the F&O ban period include companies in which the security has crossed 95% of the market-wide position limit.

#GiftNifty #ExitPolls #EquityMarkets #Manufacturing #Capex #Infrastructure #Financials #OilPrices #ForeignPortfolioInvestors #Rupee #Fii #F&oBan

https://m.economictimes.com/markets/stocks/news/gift-nifty-rises-90-points-heres-the-trading-setup-for-todays-session/articleshow/110684508.cms 

 Gold firms on Fed rate cut hopes; investors await more US data
==========

Gold prices edged higher on Monday as signs of cooling U.S. inflation lifted hopes for interest rate cuts from the Federal Reserve this year, while traders awaited a slew of U.S. economic data due this week. Spot gold was up 0.2% at $2,331.84 per ounce as of 09:49 a.m. ET (1349 GMT), after posting a 2% gain last month. Prices hit an all-time high of $2,449.89 on May 20. Traders are currently pricing in about a 56% chance of a cut in September, according to CME FedWatch tool. Data on Friday showed that the U.S. had stabilised in April, suggesting the U.S. central bank's interest rate cut plans later this year remained intact. Analysts expect a slowdown in U.S. economic data to allow the Fed to cut interest rates later this year and lift gold prices. Meanwhile, the Reserve Bank of Australia is seen almost certain to trim rates by a quarter point to 3.75% on Thursday, which could make it the first major central bank to cut rates this cycle. Spot silver eased 0.2% to $30.31 per ounce, platinum slipped 0.9% at $1,028.85 and palladium gained 1.8% to $929.54.

#Gold #FederalReserve #UsData #InterestRates #Inflation #EconomicData

https://m.economictimes.com/markets/commodities/news/gold-firms-on-fed-rate-cut-hopes-investors-await-more-us-data/articleshow/110672430.cms 

 "Rewards for doing business in India are significant": Alexander Slater, MD USIBC
==========

Alexander Slater, the Managing Director of the US India Business Council, discussed the evolving business landscape in India post-pandemic in a podcast. India has emerged as the fastest-growing large economy in the world for two consecutive years. Slater highlighted the shift in global focus from China to India due to changes in China's economy and India's sustained rapid growth. He emphasized the significant rewards of doing business in India, including its large market size, projected economic growth, and immense human capital. Slater also mentioned the robust bilateral business relations between the United States and India, particularly in the areas of technology and defense cooperation. He emphasized the entrepreneurial spirit of Indian entrepreneurs and the potential of India's young population to drive economic progress. The article also mentions the "Initiative on Critical and Emerging Technologies" between India and the United States and the launch of the innovation bridge IndusX to strengthen defense ties.

#Business #India #Usibc #Economy #Technology #DefenseCooperation

https://m.economictimes.com/news/india/rewards-for-doing-business-in-india-are-significant-alexander-slater-md-usibc/articleshow/110664838.cms 

 Thematic focus on infra, renewables and real estate likely to continue: Harsh Gupta Madhusudan
==========

Harsh Gupta Madhusudan predicts that the thematic focus on infrastructure, renewables, and real estate will continue. Chinese valuations are roughly half of India's, but Chinese earnings growth is also significantly lower. The recent pressure on the benchmark indices is not primarily due to concerns about the election results. The final outcome of the election will be known on June 4th. FIIs are positioned cautiously and will return once there is clear policy direction. If the BJP secures a majority, this is largely priced in by domestic investors, but not necessarily by foreign investors. The IT industry is closely tied to the US economic cycle and will bounce back once US rate cuts begin again. The electric vehicle (EV) sector in India is in its early stages and has significant growth potential. The sector has a long runway, and indigenization efforts will shape its growth trajectory.

#Infra #Renewables #RealEstate #Election #China #Fiis #ItIndustry #ElectricVehicle

https://m.economictimes.com/markets/expert-view/thematic-focus-on-infra-renewables-and-real-estate-likely-to-continue-harsh-gupta-madhusudan/articleshow/110595207.cms 

 Snake-Rabbit fight causes traffic snarl in South Carolina
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Vehicular traffic in Summerville, South Carolina was brought to a halt due to a fight between a snake and a rabbit, causing a traffic snarl. The origins of how the animals ended up on the roadway remain a mystery. The outcome of a snake preying on a rabbit depends on factors such as the sizes of both animals and the species of the snake. Rabbits can exhibit surprising aggression and will defend themselves if threatened.

#SouthCarolina #Traffic #Snake #Rabbit

https://m.economictimes.com/news/international/us/snake-rabbit-fight-causes-traffic-snarl-in-south-carolina/articleshow/110627902.cms 

 Is Donald Trump going to Rikers Island jail? From Tupac Shakur to Berkowitz, famous criminals served there
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Donald Trump has been convicted on all 34 charges against him by the [source]. While there are rumors that he has been made a political scapegoat, some [source] are creating an uproar and demanding his imprisonment. Since each of his charges carries a sentence of a maximum of four years behind bars, Donald Trump may not be a free man much longer. The sentencing of Donald Trump is awaited and will be happening on July 11 and he may by all means land up at the Rikers Island jail, which has previously seen some hotshot personalities landing up to serve their sentences. Some famous inmates of Rikers Island prison include Tupac Shakur and Lil Wayne.

#DonaldTrump #RikersIslandJail #TupacShakur #LilWayne

https://m.economictimes.com/news/international/us/is-donald-trump-going-to-rikers-island-jail-from-tupac-shakur-to-berkowitz-famous-criminals-served-there/articleshow/110627684.cms 

 Johnny Depp in new Terry Gilliam movie: Latest updates, plot details, cast, all you need to know
==========

Pirates of the Caribbean star Johnny Depp is set to feature as Satan in a new Terry Gilliam movie. The film, titled 'Carnival at the End of Days', is currently in its developmental stage, with filming scheduled to begin in January 2025. The plot revolves around Satan trying to save Earth after God decides to wipe out humanity. The movie boasts a dominant cast and has received $30 million in funding. Depp and Gilliam have previously worked together on films like 'Fear and Loathing in Las Vegas' and 'The Imaginarium of Doctor Parnassus'.

#JohnnyDepp #TerryGilliam #CarnivalAtTheEndOfDays #Film

https://m.economictimes.com/news/international/us/johnny-depp-in-new-terry-gilliam-movie-latest-updates-plot-details-cast-all-you-need-to-know/articleshow/110626507.cms 

 When you're stuck in a far-flung cauldron
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The article recounts the author's experience of being stuck in New Caledonia during a state of emergency and curfew. The author describes the protests and unrest happening on the island, as well as the scarcity of food and the presence of French soldiers. After nearly two weeks, the author and others were evacuated from the island. The article highlights the geopolitical significance of New Caledonia, its production of nickel, and its location in the South Pacific. The author concludes by emphasizing the importance of these far-flung islands to the world.

#NewCaledonia #Protests #Unrest #Evacuation #Geopolitics #Nickel

https://m.economictimes.com/opinion/et-commentary/when-youre-stuck-in-a-far-flung-cauldron/articleshow/110625842.cms 

 Hush Money Trial: Can Donald Trump self-pardon from the case if he gets re-elected as US President?
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Donald Trump is the first former president to be convicted of a felony in the hush money trial. He was found guilty of 34 counts of falsifying business records, including disguising a hush money reimbursement as legal expenses to cover up a $130,000 payment to Stormy Daniels before the 2016 election. The question of whether Trump can self-pardon has emerged, but even if he wins the presidency again, he cannot pardon himself in this case as presidential pardons only apply to federal, not state cases. Trump's sentencing is scheduled for July 11, and if jail time is imposed, he is expected to remain free while he appeals. Trump's legal team is preparing to appeal the conviction, potentially extending the legal battle beyond the 2024 elections. Trump also faces three other legal cases, and a presidential pardon could potentially influence these federal cases. However, no trial dates have been set for these cases, and legal experts predict they are unlikely to proceed before the next Election Day.

#DonaldTrump #HushMoneyTrial #Selfpardon #Conviction #Felony #FalsifyingBusinessRecords #StormyDaniels #PresidentialPardons #StateCases #Sentencing #LegalConsequences #Appeal #FederalCases

https://m.economictimes.com/news/international/us/hush-money-trial-can-donald-trump-self-pardon-from-the-case-if-he-gets-re-elected-as-us-president/articleshow/110622842.cms 

 FIIs follow 'sell in May and go away' mantra ahead of election results with Rs 25,600 crore sell-off
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Foreign institutional investors (FIIs) sold Indian stocks worth Rs 25,600 crore in May, aligning with the 'Sell in May and go away' adage. The sell-off was driven by increased net shorts in index futures, outperformance of Chinese stocks, concerns about high valuations, and weak earnings in the financial and IT sectors. The FII activity in June will be influenced by the election results to be announced on June 4th and the market response to that. Positive factors for the Indian economy, such as strong GDP growth, manageable inflation, political stability, and the expectation that the RBI is done tightening monetary policy, may lead to a turnaround in FII sentiment.

#Fiis #Selloff #IndianStocks #ElectionResults #ChineseStocks #Valuations #Earnings #FinancialSector #ItSector #GdpGrowth #Inflation #PoliticalStability #Rbi #MonetaryPolicy

https://m.economictimes.com/markets/stocks/news/fiis-follow-sell-in-may-and-go-away-mantra-ahead-of-election-results-with-rs-25600-crore-sell-off/articleshow/110619874.cms 

 S&P downgrades French credit rating in blow to Macron
==========

Standard & Poor's (S&P) has downgraded France's credit rating from "AA" to "AA-" due to a deterioration in the country's budgetary position. The downgrade comes as a blow to Emmanuel Macron's government just days before EU parliamentary elections. S&P cited concerns over lower-than-expected growth and "political fragmentation" that would make it difficult for the government to implement planned reforms. France's general government debt is expected to increase to about 112 percent of GDP by 2027, contrary to previous expectations. Economy Minister Bruno Le Maire reaffirmed the government's commitment to slashing the public deficit to below three percent by 2027. Critics of the government blamed the downgrade on the Macron administration's handling of public finances and its abundant spending during the Covid pandemic. The downgrade risks putting off investors and making it more difficult for France to pay off its debt.

#S&p #CreditRating #France #EmmanuelMacron #BudgetaryPosition #EuParliamentaryElections #Growth #PoliticalFragmentation #Reforms #GeneralGovernmentDebt #PublicDeficit #CovidPandemic #Investors #Debt

https://m.economictimes.com/news/international/world-news/sp-downgrades-french-credit-rating-in-blow-to-macron/articleshow/110612202.cms 

 Nasdaq falls 1%; Salesforce shares weigh on tech
==========

Nasdaq dropped more than 1% due to declines in the tech and communication services sectors. Salesforce shares plunged 19.7% after the company forecasted lower-than-expected second-quarter profit and revenue. The S&P 500 technology sector dropped 2.5% and was the biggest drag on the benchmark index. The Commerce Department reported slower Q1 growth than previously estimated. The S&P 500 lost 0.60% to end at 5,235.48, while the Nasdaq Composite lost 1.08% to 16,737.08. The Dow Jones Industrial Average fell 0.86% to 38,111.48. U.S. Treasury yields dipped following the data.

#Nasdaq #Salesforce #Tech #StockMarket

https://m.economictimes.com/markets/stocks/news/nasdaq-falls-1-salesforce-shares-weigh-on-tech/articleshow/110577792.cms 

 Rupee rises 3 paise to 83.10 against US dollar in early trade
==========

The rupee gained 3 paise against the US dollar, reaching 83.10, driven by positive domestic equities and USD weakness in global markets. The rupee is likely to trade with a positive bias tracking a positive trend in domestic equities and expectations of fresh foreign inflows. In the interbank foreign exchange market, the local unit opened at 83.14 and gained further ground to trade at 83.10 against the greenback, registering a gain of 3 paise from its previous closing level. The USD/INR pair is expected to move within a narrow range of 83.00 to 83.20. The rupee is expected to appreciate to around 82.80-82.50 in the near term, with medium-term projections ranging between 82.20 and 82.00. On the domestic equity market, the 30-share BSE Sensex was trading 124.2 points, or 0.16 per cent higher at 75,514.70 points. The broader NSE Nifty rose 47.95 points or 0.21 per cent to 22,980.40 points in initial trade. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 541.22 crore.

#Rupee #UsDollar #ForexMarket #DomesticEquities #UsdWeakness #InterbankForeignExchangeMarket #BseSensex #NseNifty #ForeignInstitutionalInvestors

https://m.economictimes.com/markets/forex/rupee-rises-3-paise-to-83-10-against-us-dollar-in-early-trade/articleshow/110483531.cms 

 Will there be 'The Sympathizer' Season 2? This is what Executive Producers Amanda Burrell and Susan Downey said
==========

Executive Producers Amanda Burrell and Susan Downey indicated the possibility of 'The Sympathizer' Season 2 despite it being a limited series. The series, created by Park Chan-wook, revolves around the Captain (Hoa Xuande) in the South Vietnamese army who escapes to the U.S. with his general toward the end of the Vietnam War. Amanda Burrell mentioned that there are three books and more to come, as the author Viet Thanh Nguyen is obsessed with these characters. Susan Downey stated that there is more story to be told for the Captain's journey in this world. The series concluded on May 26 on HBO.

#TheSympathizerSeason2 #AmandaBurrell #SusanDowney #VietThanhNguyen #HoaXuande #ParkChanwook

https://m.economictimes.com/news/international/us/will-there-be-the-sympathizer-season-2-this-is-what-executive-producers-amanda-burrell-and-susan-downey-said/articleshow/110476058.cms 

 How China and Russia are vying to disrupt US military edge in outer space
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Russia and China are developing abilities to counter the US in the space sector. The weaponization of outer space has emerged as a concern for mankind. The launch of a satellite into the Low Earth Orbit by China last week has turned the spotlight on a race that is developing in outer space between different countries. War is not just fought on Earth but has now expanded to cyberspace and outer space. This was demonstrated by Russia during its invasion of Ukraine. A cyber-attack crippled the defense forces in Kyiv and other European capitals that were dependent on a communication satellite. Countries with capabilities of counter-offensive capabilities are focusing on disabling communication satellites and using anti-satellite weapons to bring down enemy satellites. The US has over 5000 operational satellites orbiting space, while China has 628 and Russia has fewer than 200 satellites. Russia is focusing on developing its electronic warfare abilities and China is focusing on countering the US on various fronts. There are concerns about the development of nuclear space assets and the need for countries to renew their pledges to not use outer space for non-peaceful purposes.

#China #Russia #Us #Military #OuterSpace

https://m.economictimes.com/news/international/us/how-china-and-russia-are-vying-to-disrupt-us-military-edge-in-outer-space/articleshow/110469433.cms 

 Viksit elections, Bharat? Onus on EC and next govt to make election process less harrowing
==========

The article discusses the need for the Election Commission (EC) and the next government to make the election process in India less burdensome. The author highlights that the long duration of the election season, which can last up to six months, affects policymaking and creates a drain on candidates, campaigners, and citizens. The article suggests several measures to improve the election process, including the use of digital or online voting, voting at home, and shorter intervals between successive rounds of a multi-phase election. The author also proposes the abolition of the 48-hour period of silence between the end of campaigning and voting. The onus is on the EC and the incoming government to implement these changes.

#Elections #ElectionCommission #Government #Policymaking #Voting #Campaigning

https://m.economictimes.com/opinion/et-commentary/viksit-elections-bharat-onus-on-ec-and-next-govt-to-make-election-process-less-harrowing/articleshow/110444235.cms 

 India in trade deficit with nine of top 10 trading partners in 2023-24
==========

India recorded a trade deficit with nine of its top 10 trading partners in 2023-24, including China, Singapore, and the US. The trade deficit with China rose to USD 85 billion, Russia to USD 57.2 billion, Korea to USD 14.71 billion, and Hong Kong to USD 12.2 billion in 2023-24. China has emerged as India's largest trading partner with USD 118.4 billion of two-way commerce in 2023-24. India has a trade surplus of USD 36.74 billion with the US in 2023-24. India's total trade deficit in the last fiscal narrowed to USD 238.3 billion as against USD 264.9 billion in the previous fiscal.

#India #TradeDeficit #TradingPartners #China #Singapore #Us

https://m.economictimes.com/news/economy/foreign-trade/india-in-trade-deficit-with-nine-of-top-10-trading-partners-in-2023-24/articleshow/110437028.cms 

 Gold loses momentum on ebbing rate cut speculation
==========

Gold prices rose on Friday as the dollar slipped, but were heading for their worst week in five and a half months due to hopes of U.S. central bank interest rate cuts affecting Western investors' interest. Spot gold rose 0.2% to $2,332.77 per ounce as of 1:54 p.m. ET (1754 GMT) as the U.S. dollar index slipped 0.4%. U.S. gold futures settled 0.1% lower to $2,334.50. Bullion hit a record high of $2,449.89 on Monday, but has shed more than $100 since then and is on track for a 3% drop this week, its worst weekly dip since early December. Minutes from the Fed's last meeting published this week showed the central bank's path to 2% inflation could take longer than expected. Traders' bets signalled growing doubts that the Fed will cut rates more than once in 2024, currently pricing in about a 63% chance of a rate cut by November according to the CME FedWatch Tool. Higher interest rates make non-yielding gold a less appealing investment. Despite uncertainty around U.S. rate outlook, gold prices managed to gain 13% so far this year, largely on the back of strong geopolitical uncertainties, analysts have noted.

#Gold #InterestRates #UsFederalReserve

https://m.economictimes.com/markets/commodities/news/gold-loses-momentum-on-ebbing-rate-cut-speculation/articleshow/110413109.cms 

 US extends some Chinese tariff exclusions, but many to fall away
==========

The US Trade Representative's (USTR) office has announced a further extension of all China Section 301 tariff exclusions on 352 Chinese import and 77 pandemic-related categories through June 14, and said some would be extended through May 31, 2025. The exclusions were previously scheduled to expire on May 31, but USTR said it was extending them to allow for a transition. However, many product categories will once again face tariffs, including garage-door openers, switches used in motor vehicles, printed circuit board assemblies, electric motorcycles, natural graphite, and duffel and messenger bags. The US imposed tariffs on Chinese imports in 2018 and 2019, and the exclusions are part of ongoing trade tensions between the two countries.

#UschinaTradeWar #TariffExclusions #ChinaSection301

https://m.economictimes.com/news/international/world-news/us-extends-some-chinese-tariff-exclusions-but-many-to-fall-away/articleshow/110412453.cms 

 Rupee touches six-week high on likely dollar inflows; forward premiums decline
==========

The Indian rupee reached its highest level in six weeks, trading at 83.1750 against the US dollar, supported by likely dollar inflows and a decline in forward premiums. The rupee's gain was aided by equity-related dollar sales and net buying of $560 million of Indian stocks by foreign investors. The 1-year implied yield for the dollar-rupee slipped, while the 1-year US Treasury yield rose. The overall outlook for the rupee appears strongly positive, according to Amit Pabari, managing director at FX advisory firm CR Forex.

#Rupee #DollarInflows #ForwardPremiums #IndianStocks #ForeignInvestors

https://m.economictimes.com/markets/forex/rupee-touches-six-week-high-on-likely-dollar-inflows-forward-premiums-decline/articleshow/110381949.cms 

 Sensex ends 267 points higher, Nifty near 22,600 ahead of Fed mins
==========

The Sensex gained 267 points, or 0.36%, to settle at 74,221, while the Nifty surged 69 points, or 0.32%, to end at 22,598. The gains were led by fast-moving consumer goods and Reliance Industries. Paytm shares closed 4.8% higher after hitting a 5% upper circuit following the Q4 results. The Indian rupee closed at 83.28 against the U.S. dollar. The Federal Reserve minutes due later in the day will offer clues about the rate cut trajectory in the U.S. economy.

#Sensex #Nifty #FedMinutes #FastmovingConsumerGoods #RelianceIndustries #Paytm #Q4Results #IndianRupee #RateCut #UsEconomy

https://m.economictimes.com/markets/stocks/news/sensex-ends-267-points-higher-nifty-near-22600-ahead-of-fed-mins/articleshow/110332766.cms 

 Cipla gets USFDA nod to market Lanreotide injection
==========

Cipla has received approval from the US FDA to market its Lanreotide injection, a generic medication for treating acromegaly and other conditions. The product is a therapeutic equivalent of Somatuline Depot Injection, which had sales of around USD 898 million in the US for the 12-month period ending March 2024.

#Cipla #LanreotideInjection #Usfda #Acromegaly #SomatulineDepotInjection

https://m.economictimes.com/industry/healthcare/biotech/cipla-gets-usfda-nod-to-market-lanreotide-injection/articleshow/110326237.cms 

 Cannes: Demi Moore's 'The Substance' receives 11-minute standing ovation
==========

French filmmaker Coralie Fargeat's film 'The Substance' received an 11-minute standing ovation at the Cannes Film Festival. The film stars Demi Moore and Margaret Qualley and is praised for its feminist take on the horror genre. This is the first project to receive such a long applause from the Cannes audience this year. The story revolves around a middle-aged actress (Moore) who tests a mysterious product that brings out her best version, played by Qualley. The film marks the debut for Moore and Fargeat at Cannes. The Cannes Film Festival began on May 14 and will conclude on May 25.

#CannesFilmFestival #TheSubstance #DemiMoore #MargaretQualley

https://m.economictimes.com/magazines/panache/cannes-demi-moores-the-substance-receives-11-minute-standing-ovation/articleshow/110286635.cms 

 Retailers cut stocks of impacted spice brands like MDH and Everest
==========

About 32% of retailers are limiting stocks of MDH and Everest branded packaged spices alleged to have contaminants, exceeding permissible ethylene oxide levels. Hong Kong, Singapore, and Nepal have put restrictions on the sale of some variants of spices from the brands. The controversy has had limited impact on overall branded spices as a category. The All India Consumer Products Distributors Federation issued an advisory to retailers to limit stocking of branded spices.

#Retail #SpiceBrands #Mdh #Everest #Contaminants #EthyleneOxide #Restrictions #AllIndiaConsumerProductsDistributorsFederation

https://m.economictimes.com/industry/services/retail/retailers-cut-stocks-of-impacted-spice-brands-like-mdh-and-everest/articleshow/110281323.cms 

 New PoS deployment grows at slowest pace since demonetisation: RBI data
==========

New point-of-sale (PoS) terminal deployment in fiscal 2023-24 grew at the slowest pace since demonetisation, according to data from the Reserve Bank of India (RBI). Between March 2023 and 2024, new PoS terminal deployment rose 14% to 8.9 million, about half the rate of the preceding two years. The deployment of QR codes for UPI payments has doubled in the last two years, with 346 million QR codes in use in March 2024. The convenience of UPI and the government's zero discount rate (MDR) for UPI transactions are encouraging merchants to switch to UPI payments over card swipes. However, the decline in debit card usage is hurting banks' revenue from payments business. The value of debit card transactions fell in FY24 compared to FY23, and the decline in interchange income for banks is affecting their ability to invest in safety features for digital payments. Credit card usage has seen exponential growth, with over 100 million credit cards issued in India. PoS machines are still relevant due to credit card usage and large merchants where the average ticket size of transactions is big. To keep PoS terminals relevant, payment companies are building software services on top of the payment functions, allowing merchants to offer value-added services. However, the popularity of UPI is eating away debit card volumes in the smaller retail segment.

#PosDeployment #RbiData #Demonetisation #QrCodePayments #UpiTransactions #DebitCardUsage #CreditCardUsage

https://m.economictimes.com/tech/technology/qr-code-payments-swiping-at-pos-terminals/articleshow/110258685.cms 

 BJP has launched 'Operation Jhaadu' to crush AAP: Arvind Kejriwal
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Delhi Chief Minister Arvind Kejriwal claims that the BJP has launched 'Operation Jhaadu' to crush the Aam Aadmi Party (AAP). Kejriwal stated that the BJP sees AAP as its primary adversary and is worried about its rise. He warned party workers to be prepared for bigger challenges ahead, including frozen bank accounts and the loss of their office. Kejriwal also mentioned that he and other AAP leaders planned to peacefully march to the BJP headquarters on May 19 and wait to see if they would be arrested. The alleged assault of Rajya Sabha MP Swati Maliwal has become political, with AAP accusing the BJP of being involved in conspiracies. Kejriwal is currently out on interim bail in the excise policy case.

#Bjp #OperationJhaadu #Aap #ArvindKejriwal #Delhi #SwatiMaliwal

https://m.economictimes.com/news/elections/lok-sabha/delhi/bjp-has-launched-operation-jhaadu-to-crush-aap-arvind-kejriwal/articleshow/110254689.cms 

 From Tokyo to New York, stock markets are on a record-hitting spree around the world
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Equity markets worldwide are experiencing highs. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. The MSCI ACWI Index, which tracks developed and emerging markets, has been on a record-breaking run, setting another new high on Friday. Looming inflation, healthy economies, and low risks are driving the activity. The rally is broadening out and there are plenty of potential drivers to keep it going, such as the $6 trillion sitting in money market funds.

#StockMarkets #EquityMarkets #RecordHighs #S&p500 #Nasdaq100 #DowJonesIndustrialAverage #MsciAcwiIndex #Inflation #Economies #MoneyMarketFunds

https://m.economictimes.com/markets/stocks/news/from-tokyo-to-new-york-stock-markets-are-on-a-record-hitting-spree-around-the-world/articleshow/110250747.cms 

 Babes streaming availability: When and where to watch the movie online?
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The movie 'Babes' stars Michelle Buteau and Ilana Glazer as lifelong friends navigating adulthood and parenthood. As of now, the movie is only available in theaters. However, it is expected to be available for streaming on Hulu in mid-August 2024. It will not be available on HBO Max or Netflix. Digital rental and purchase options will be available on platforms like Amazon and Google Play after the theatrical run. Michelle Buteau is married to photographer Gijs van der Most and they have twins. Ilana Glazer and Abbi Jacobson's relationship on the show 'Broad City' has been described as a romantic friendship.

#Babes #Streaming #Movie #MichelleButeau #IlanaGlazer #Theaters #Hulu #HboMax #Netflix #DigitalRental #DigitalPurchase

https://m.economictimes.com/news/international/us/babes-streaming-availability-when-and-where-to-watch-the-movie-online/articleshow/110237747.cms 

 Israeli leaders split over post-war Gaza governance
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Israeli leaders are divided over the governance of post-war Gaza. Israeli Prime Minister Benjamin Netanyahu has rejected the idea of post-war Palestinian leadership in Gaza, causing a rift among top politicians. Defence Minister Yoav Gallant criticized Netanyahu for failing to rule out an Israeli government in Gaza after the war. The lack of clarity on post-war governance benefits Hamas, who insists on its involvement. The Israeli army has been battling Hamas militants in Gaza for over seven months and has faced pressure from Iran-backed Hezbollah forces along the northern border with Lebanon.

#Israel #Gaza #BenjaminNetanyahu #Hamas #YoavGallant

https://m.economictimes.com/news/defence/israeli-leaders-split-over-post-war-gaza-governance/articleshow/110233596.cms 

 US shows understanding of Chabahar Port operations importance: India
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The United States has shown an understanding of the importance of the Chabahar Port operations for continued humanitarian supplies to Afghanistan and to provide Afghanistan with economic alternatives, according to the Ministry of External Affairs. The US has also appreciated the larger relevance of the Chabahar project in the context of humanitarian supplies to Afghanistan. This comes in response to the US threat of sanctions following the India-Iran 10-year deal on the management of the Chabahar Port. India's commitment to the port is to realize its potential as a connectivity hub for Afghanistan and Central Asian countries. The Indian company, India Ports Global Limited, has been operating the port since 2018 on an interim lease. The US had exempted India from certain sanctions for the development of the Chabahar Port in 2018, recognizing India's role in the port's development. The waiver covered not only Afghanistan but also Central Asia and the International North South Transport Corridor (INSTC).

#ChabaharPort #Afghanistan #India #UnitedStates #Sanctions

https://m.economictimes.com/news/india/us-shows-understanding-of-chabahar-port-operations-importance-india/articleshow/110217062.cms 

 Taiwan is selling more to the US than China in major shift away from Beijing
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Taiwan is shifting its focus away from China and towards the United States. The world's largest computer chip maker, TSMC, announced bigger investments in the U.S. last month after a boost from the Biden administration. Taiwanese semiconductor company ended its two-decade-long run in mainland China amid a global race to gain the edge in the high-tech industry. The U.S. displaced mainland China as the top destination for Taiwan's exports in the first quarter of the year for the first time since the start of 2016. Taiwan's investments in mainland China have fallen to the lowest level in more than 20 years, dropping nearly 40% to $3 billion last year from a year earlier. Taiwan's investments in the U.S. surged ninefold to $9.6 billion in 2023. Washington and Taipei signed a trade agreement last year, and they're now negotiating the next phase. U.S. lawmakers also have introduced a bill to end double taxes for Taiwanese businesses and workers in the U.S.

#Taiwan #China #UnitedStates #Trade #Economy

https://m.economictimes.com/news/international/world-news/taiwan-is-selling-more-to-the-us-than-china-in-major-shift-away-from-beijing/articleshow/110196257.cms 

 Norway excludes Adani Ports, US and Chinese cos from pension fund
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Norway's central bank, Norges Bank, has excluded Adani Ports, US-based L3Harris Technologies, and China's Weichai Power from its pension fund. The exclusion of Adani Ports is based on the company's unacceptable risk of contributing to serious violations of individuals' rights in situations of war or conflict. Adani Ports has been under observation since March 2022, and the decision to exclude it is based on a recommendation from the Council on Ethics of November 21, 2023.

#Norway #AdaniPorts #L3harrisTechnologies #WeichaiPower #PensionFund

https://m.economictimes.com/markets/stocks/news/norway-excludes-adani-ports-us-and-chinese-cos-from-pension-fund/articleshow/110191189.cms 

 Aluminum products maker Novelis makes US IPO filing public
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Novelis, an aluminum products maker owned by Indian conglomerate Aditya Birla Group's Hindalco Industries, has made its filing for a US IPO public. The company is seeking to complete the IPO as early as early June and will list on the New York Stock Exchange under the symbol 'NVL'. BofA Securities and Citigroup Global Markets are the lead underwriters for the offering. In fiscal 2024, Novelis reported revenue of $16.21 billion and net income of $600 million.

#Novelis #Ipo #Aluminum #AdityaBirlaGroup #HindalcoIndustries #UsIpo #NewYorkStockExchange

https://m.economictimes.com/markets/ipos/fpos/aluminum-products-maker-novelis-makes-us-ipo-filing-public/articleshow/110099846.cms 

 Dollar drifts as traders eye US inflation data; frail yen in focus
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The currency market has been sedate this week, with investors seeking to gauge what the path the Federal Reserve will take this year in the wake of recent softer-than-expected U.S. labour market data and comments from central bankers. Traders are back on tenterhooks as the yen nears levels that saw suspected interventions by Tokyo. The dollar index, which measures the U.S. currency against six rivals, was last at 105.25. Nearly two-thirds of economists expect the Fed to cut its key rates twice this year, starting in September, a Reuters poll showed.

#CurrencyMarket #UsInflation #FederalReserve #Yen

https://m.economictimes.com/markets/forex/dollar-drifts-as-traders-eye-us-inflation-data-frail-yen-in-focus/articleshow/110099706.cms 

 SBI's 85 pc hires to be engineering grads in FY25
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State Bank of India (SBI) plans to onboard around 12,000 freshers in FY25, with 85% being engineering graduates. Chairman Dinesh Khara emphasizes no bias towards engineers, focusing on training for various business and IT roles. SBI invests heavily in tech training to meet increasing sector demands and regulatory standards, ensuring staff stay ahead in technology.

#Sbi #Hiring #EngineeringGraduates #DineshKhara #BusinessRoles #ItRoles #TechTraining

https://m.economictimes.com/jobs/government-jobs/sbis-85-pc-hires-to-be-engineering-grads-in-fy25/articleshow/110054835.cms 

 Suicide Squad Isekai: Everything we know about release date, trailer, voice cast and creative team
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The article provides information about the upcoming DC anime, Suicide Squad Isekai. The trailer showcases Harley Quinn as the main character in a new world of magic and monsters. The voice cast includes Anna Nagase as Harley Quinn, Yūichirō Umehara as the Joker, and Reigo Yamaguchi as Deadshot. The creative team behind the anime includes director Eri Osada and screenwriters Tappei Nagatsuki and Eiji Umehara. The exact release date is yet to be announced, but the anime is set to premiere in Japan in July.

#SuicideSquadIsekai #DcAnime #Trailer #VoiceCast #CreativeTeam

https://m.economictimes.com/news/international/us/suicide-squad-isekai-everything-we-know-about-release-date-trailer-voice-cast-and-creative-team/articleshow/110042402.cms 

 Kingdom of the Planet of the Apes: Director Wes Ball to unveil 'Raw' version with VFX Marvels
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The Kingdom of the Planet of the Apes premiered in theaters on Friday, May 10. The film series has spanned nine installments since its inception in 1968. Wes Ball, the director of Kingdom of the Planet of the Apes, plans to unveil a 'raw' version of the film that showcases the behind-the-scenes magic of VFX. This special edition will feature actors delivering their performances in motion capture suits without the visual effects. Ball emphasizes the significance of VFX in storytelling and aims to demystify the craft behind bringing apes and humans to life on screen. The film stars Proximus Caesar as a villainous bonobo monarch leading a group of coastal apes. The plot follows a young ape on a transformative journey that challenges the teachings of the past and shapes the fate of apes and humans. Ball acknowledges the collective effort of the production team and celebrates the collaborative spirit that fuels cinematic innovation.

#Film #Vfx #WesBall #PlanetOfTheApes

https://m.economictimes.com/news/international/us/kingdom-of-the-planet-of-the-apes-director-wes-ball-to-unveil-raw-version-with-vfx-marvels/articleshow/110041811.cms 

 US to witness new COVID wave in summers? All about the new variant KP.2
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Disease experts are concerned about a new variant called KP.2, which is causing a significant uptick in COVID-19 cases across the United States. KP.2 has become rampant in the US and is currently the leading cause of new infections, surpassing the previous variant JN.1. KP.2 has a higher ability to invade the immune system and is more evasive and fatal than previous variants. Lab research suggests that vaccines may be less effective against KP.2 compared to JN.1, but individuals previously infected with JN.1 may still have some protection against KP.2. The new variant is expected to cause a small COVID-19 wave in the US, similar to the previous JN.1 variant. 

#Covid19 #VariantKp2 #Us #Infections #Vaccines

https://m.economictimes.com/news/international/us/us-to-witness-new-covid-wave-in-summers-all-about-the-new-variant-kp-2/articleshow/110041374.cms 

 Shogun Season 2: Here’s what rumors and sources reveal about FX series renewal
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Hiroyuki Sanada has reportedly signed a deal with FX for a potential Season 2 renewal of the series 'Shogun'. The show, initially billed as a limited series, might transition into a drama series for this year's Emmy consideration. FX has not commented on these rumors. The renewal would position 'Shogun' in direct competition with heavyweight dramas like 'The Crown' and 'The Morning Show'. Despite being a limited series, 'Shogun' became FX's most-watched debut, amassing 9 million views across Hulu, Disney+, and Star+ in its first week.

#ShogunSeason2 #HiroyukiSanada #FxSeries #LimitedSeries #DramaSeries #EmmyConsideration #TheCrown #TheMorningShow

https://m.economictimes.com/news/international/us/shogun-season-2-heres-what-rumors-and-sources-reveal-about-fx-series-renewal/articleshow/110041230.cms 

 Donald Trump says not considering Nikki Haley as running mate
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Donald Trump dismisses considering Nikki Haley as his running mate. Trump wishes Haley well and states that she is not under consideration for the V.P. slot. Axios had reported that Trump could pick Haley if she could help him win the presidency and cover legal bills if he loses. Haley ended her challenge to Trump in March and has not endorsed him. Other potential candidates for the running mate position include Doug Burgum, Kristi Noem, Marco Rubio, Tim Scott, J.D. Vance, and Elise Stefanik. Trump is in no hurry to pick a running mate and will face Biden in the November election.

#DonaldTrump #NikkiHaley #RunningMate #PresidentialElection

https://m.economictimes.com/news/international/world-news/donald-trump-says-not-considering-nikki-haley-as-running-mate/articleshow/110040133.cms