EXPLAINER | Will the Bitcoin price rally sustain?
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Bitcoin prices soared to all-time highs, crossing $93,000 following Donald Trump's re-election as US President on November 5, 2024; optimism around Trump's pro-crypto policies is tempered by concerns over their feasibility and potential inflation risks; Trump has embraced cryptocurrencies, proposing a national Bitcoin reserve and launching World Liberty Financial; India views Bitcoin as a strategic asset despite no legal recognition as tender; Bitcoin's market cap now ranks eighth globally, surpassing silver; volatility remains a concern for investors, highlighted by WazirX's $230 million cyberattack in July 2024.
#Bitcoin #Cryptocurrency #DonaldTrump #India #MarketTrends #Investment #Regulation #Volatility #FinancialMarkets #CryptoExchange
https://www.financialexpress.com/business/digital-transformation-explainer-will-the-bitcoin-price-rally-sustain-3669476/
Kamala Loses Big – How and Why
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Kamala Harris lost the 2024 Presidential election to Donald Trump; pollsters predicted a close race, but some analysts confidently forecasted Trump's victory; Harris faced significant disadvantages including a low approval rating of 40%; economic issues, particularly inflation and rising food prices, impacted voters; illegal immigration and the Biden administration's handling of it alienated many; identity politics and the 'woke culture' also played a role; Harris was perceived as an unsuitable candidate, lacking strong support and credibility; Trump's 'America first' foreign policy resonated with voters; Harris lost crucial Muslim votes in Michigan due to her stance on Israel; her choice of VP candidate was criticized; the election results reflect a desire for stability rather than a rejection of diversity.
#KamalaHarris #DonaldTrump #2024Election #UsPolitics #Economy #Immigration #IdentityPolitics #ForeignPolicy #ElectionAnalysis #PoliticalStrategy
https://www.financialexpress.com/opinion/kamala-loses-big-how-and-why/3667850/
It was the economy, stupid
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The 2024 presidential race was significantly influenced by economic issues; Donald Trump defeated Kamala Harris, leading Republicans to gain control of the Senate and House; Voter surveys indicated the economy and illegal immigration were key concerns; Inflation was a major issue, with voters dissatisfied with rising prices; Trump's campaign effectively leveraged voter dissatisfaction, asking if voters were better off than four years ago; Democrats focused on economic growth and wage gains, but appeared disconnected from voters' realities; A 'K-shaped economy' left low-income households struggling; Michael Spence highlighted financial fragility among lower-income households; The Democrats lost control of the inflation narrative; Experts failed to communicate the complexities of the economy; The 2008 financial crisis and the 2021 inflation predictions undermined expert credibility; The election signaled a shift towards a counter-elite, as noted by historian Niall Ferguson.
#UsElection #Economy #Inflation #Trump #Democrats #PoliticalStrategy #2024 #EconomicCommunication #KshapedEconomy #Counterelite
https://www.financialexpress.com/opinion/it-was-the-economy-stupid/3666445/
Trump 2.0: Should Indian markets be worried about these 4 factors?
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Donald Trump's victory on November 11, 2024, is expected to lead to pro-growth economic policies, including lower corporate taxes and a focus on domestic manufacturing; US markets may outperform emerging markets, leading to continued FII outflows from India, with nearly Rs 20,000 crore sold in November after Rs 94,000 crore in October; the US dollar is expected to remain strong in the near term but may weaken later; higher tariffs on China could benefit Indian exports marginally, but competitiveness remains a concern.
#DonaldTrump #IndianMarkets #UsEconomy #FiiOutflows #Tariffs #CorporateTaxes #DollarStrength #EmergingMarkets #EconomicPolicies #GlobalTrade
https://www.financialexpress.com/market/trump-2-0-should-indian-markets-be-worried-about-these-4-factors-3661601/
India to see uptick in imported inflation
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India's economy faces challenges due to Donald Trump's second presidency; imported inflation expected to rise as rupee weakens; foreign portfolio inflows may slow; RBI projects CPI inflation to reduce to 4.5% in FY25; GDP growth for FY25 estimated at 6.7-6.8%; Trump proposes 10% universal tariff, impacting Indian exports; IT stocks rallied with Nifty IT index up over 3%; analysts predict merchandise exports growth at 3-4% in FY25; potential benefits for sectors like defense and manufacturing; Bloomberg estimates GDP could be 0.1% lower by 2028 due to tariffs; need for manufacturing subsidies and lower import tariffs to mitigate effects.
#India #Economy #Trump #Inflation #Gdp #Exports #Rbi #ItStocks #Tariffs #ForeignInvestment
https://www.financialexpress.com/policy/economy-india-to-see-uptick-in-imported-inflation-3658270/
Harris or Trump: Who has the best plan for Indian immigrants in America?
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The U.S. Election 2024 features Kamala Harris and Donald Trump, both with differing immigration policies impacting Indian immigrants; Trump's administration tightened H-1B visa eligibility, raising denial rates from 6% in 2015 to 24% in 2018; Harris supports increasing the annual cap on H-1B visas from 65,000 to potentially higher; Trump's merit-based system limits immigration to skills over family connections, while Harris advocates for family reunification amidst a backlog of over 1 million Indians; Indian nationals face up to 84 years wait for employment-based green cards under Trump's system, while Harris co-sponsored the Fairness for High-Skilled Immigrants Act to eliminate country-based caps; Indian students contribute $7.6 billion annually to the U.S. economy, with Trump increasing scrutiny on F-1 visas and proposing OPT limitations, while Harris may extend OPT for STEM graduates; Trump's EB-5 visa investment minimum rose from $500,000 to $900,000, while Harris's entrepreneurial visa reform record is unclear; Trump's security focus led to longer processing times for tourist visas, while Harris may prioritize accessibility; both candidates offer limited pathways for meaningful immigration reform.
#UsElection2024 #Immigration #H1bVisas #KamalaHarris #DonaldTrump #IndianImmigrants #StudentVisas #GreenCards #Eb5Program #Opt
https://www.financialexpress.com/business/investing-abroad-harris-vs-trump-how-policies-will-affect-h-1b-visa-seekers-and-indian-students-3656855/?ref=abroad_hp
The X factor in a country’s prosperity
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The 2024 Nobel economics prize awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson for research on societal institutions' impact on prosperity; their work highlights the importance of inclusive institutions over climate, geography, or culture; the richest 20% of countries are 30 times wealthier than the poorest 20%; their findings are based on the book 'Why Nations Fail' (2012); they argue that democratic setups and proper institutions foster investment; Acemoglu notes China's challenge to their argument regarding sustainable growth; their latest book 'Power and Progress' (2023) discusses technology's benefits to elites; the Royal Swedish Academy emphasizes the need for strong institutions to reduce income disparities.
#NobelPrize #Economics #Institutions #Prosperity #DaronAcemoglu #SimonJohnson #JamesRobinson #Inequality #Research #GlobalEconomy
https://www.financialexpress.com/policy/economy-the-x-factor-in-a-countrys-prosperity-3639680/
India joins three more IPEF pacts
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India signed agreements on clean economy (Pillar III), fair economy (Pillar IV), and the overarching agreement of the Indo Pacific Economic Framework for Prosperity (IPEF) on September 22, 2024, in Delaware, USA, during Prime Minister Narendra Modi's three-day visit for the Quad Summit; India opted for observer status in trade talks (Pillar I) and had previously signed Pillar II on supply chain in February 2024; IPEF, launched in 2022, includes 14 member countries representing 40% of world GDP and 28% of global trade; the clean energy pact aims to enhance energy security and reduce fossil fuel dependence, while the fair economy agreement focuses on transparency and anti-corruption measures.
#India #Ipef #Modi #CleanEconomy #FairEconomy #Trade #QuadSummit #InternationalAgreements #SupplyChain #Corruption
https://www.financialexpress.com/policy/economy-india-joins-three-more-ipef-pacts-3618474/
Food price volatility remains a contingent risk: RBI Bulletin
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CPI inflation rose to 3.7% in August 2024 from 3.5% in July; India's GDP growth slowed to 6.7% in Q1FY25 from 7.8% in Q4FY24; RBI targets 4% inflation; Private Final Consumption Expenditure increased to 7.4% in Q1FY25; Gross Fixed Capital Formation rose to 7.5% in Q1FY25; Global economic activity is slowing, affecting domestic consumption; E-commerce hiring is increasing ahead of festival season; Food price volatility remains a risk despite easing headline inflation.
#Rbi #Cpi #Gdp #Inflation #FoodPrices #EconomicGrowth #India #Q1fy25 #PrivateConsumption #Ecommerce
https://www.financialexpress.com/policy/economy-food-price-volatility-remains-a-contingent-risk-rbi-bulletin-3617240/
India-US Economic Relations: A Thriving Partnership with Endless Opportunities
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India and the US have established a strategic economic partnership; total merchandise trade reached nearly $120 billion in FY24; India’s exports to the US were $77.5 billion, imports totaled $42.2 billion; total trade in services is approximately $59 billion; US is India's largest trading partner; US FDI in India reached $66.7 billion from April 2000 to June 2024; significant cooperation in technology, manufacturing, defence, and biotechnology; iCET initiative launched in 2023 focuses on semiconductors, cybersecurity, AI; MoU on Semiconductor Supply Chain signed; India-US Defence Industrial Cooperation Roadmap concluded in May 2023; Mahindra Group celebrates 30 years in the US; 72 unicorn startups in the US led by Indian-origin founders; partnership includes 'The Quad' with Japan and Australia; sustained engagement needed for future growth.
#India #Us #Trade #Economy #Fdi #Technology #Defence #Partnership #Innovation #GlobalRelations
https://www.financialexpress.com/opinion/india-us-economic-relations-a-thriving-partnership-with-endless-opportunities/3616760/
US Fed rate cut likely to be non-event for IT sector
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The US Federal Reserve, led by Chair Jerome Powell, is expected to announce a rate cut on September 18, 2024, after a two-day FOMC meeting. JM Financial predicts a benign impact on corporate balance sheets, with potential benefits for the IT services sector including lower equity costs, a revival in discretionary demand, and decreased interest burdens. However, the report notes that previous rate-cut cycles coincided with IT services export slowdowns, and current economic conditions differ, suggesting a lower probability of recession. The report emphasizes that while improvements are expected, they will be gradual.
#UsFed #RateCut #ItSector #CorporateBalanceSheet #JmFinancial #JeromePowell #EconomicImpact #DiscretionaryDemand #InterestBurden #Recession
https://www.financialexpress.com/business/industry-us-fed-rate-cut-likely-to-be-non-event-for-it-sector-3614842/
US Stock Market: All eyes on jobs unemployment data - Investing Abroad News | The Financial Express
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The August jobs report is highly anticipated following July's unexpected rise in unemployment to 4.3%, up from 3.4% in April 2023; this spike caused market turmoil and concerns about a potential recession; the Federal Open Market Committee (FOMC) meeting is scheduled for September 17-18, 2024; economic data has been inconsistent, with manufacturing and job openings below expectations; however, weekly jobless claims were lower than expected; Tesla's shares have risen over 25% in the last three months, leading the S&P 500; the jobs report will influence Federal Reserve policy and market movements.
#UsStockMarket #JobsReport #Unemployment #FederalReserve #Tesla #EconomicData #Fomc #Recession #Investors #MarketTrends
https://www.financialexpress.com/business/investing-abroad-wall-street-investors-to-focus-on-unemployment-rate-in-august-jobs-data-releasing-today-3603214/
US stock market exchanges holiday, open close timings - Investing Abroad News | The Financial Express
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The NYSE and Nasdaq are closed on September 2, 2024, for Labor Day; they will reopen on September 3, 2024, at 9:30 a.m. ET; August saw the S&P 500 rise 5.65%, Nasdaq up 5.59%, and Dow up 4.59%; Fed Chair Jerome Powell indicates potential interest rate cuts in September; current fed funds rate is 5.25%-5.5%; core inflation rose by 2.6%; September 6 payrolls data will influence the Fed's September 18 meeting.
#UsStockMarket #LaborDay #InterestRates #Nyse #Nasdaq #Inflation #S&p500 #EconomicNews #FinancialMarkets #Fed
https://www.financialexpress.com/business/investing-abroad-are-us-stock-market-exchanges-open-or-closed-today-3598830/
7 ways to bridge the MSME credit gap by banks, other lending institutions
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India has over 64 million MSMEs contributing over 30% of GDP and 44% of exports; MSME credit penetration in India is only 14%, compared to 50% in the US and 37% in China; existing credit gap exceeds $170 billion, with working capital needs projected to reach over $570 billion by 2027; Priority Sector Lending (PSL) mandates banks to allocate at least 40% of Adjusted Net Bank Credit to priority sectors; the MSME Emergency Credit Line Guarantee Scheme disbursed over ₹3 lakh crore to support businesses during Covid-19; a dedicated bank for MSMEs is under consideration; Open Credit Enablement Network (OCEN) aims to enhance credit access for MSMEs; collaboration among banks, NBFCs, and fintechs is essential to bridge the credit gap.
#Msme #CreditGap #India #Finance #Lending #Psl #EconomicGrowth #Fintech #GovernmentSupport #Collaboration
https://www.financialexpress.com/business/sme/7-ways-to-bridge-the-msme-credit-gap-by-banks-other-lending-institutions/3598063/
Could Harris be the next Nixon?
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Kamala Harris's potential foreign policy could mirror Nixon's achievements; Nixon resigned as US president fifty years ago in August 1974; Nixon's anti-communist stance led to a breakthrough with China in 1972; Trump proposes raising tariffs on Chinese imports to 50-60%, which could cost the US economy 1.8% of GDP; Harris likely to continue Biden's containment strategy towards China; Tim Walz, selected as Harris's running mate, has a history with China and advocates for dialogue; Walz's views may influence a more pragmatic approach to US-China relations; The article suggests that a Harris administration could shift from conflict escalation to conflict resolution.
#KamalaHarris #RichardNixon #UschinaRelations #ForeignPolicy #Trump #TimWalz #Politics #Tariffs #Biden #ColdWar
https://www.financialexpress.com/opinion/could-harris-be-the-next-nixon/3589028/
US EB-5 visa annual cap for unreserved category reached for FY 2024
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The US State Department and USCIS announced that all EB-5 unreserved visas for FY 2024 have been issued, reaching the annual limit. The EB-5 annual limit is 7.1% of the worldwide employment limit, with 68% allocated for unreserved categories. The EB-5 Reform and Integrity Act of 2022 allows unused reserved visas from FY 2022 to be available for FY 2024. The annual limits will reset on October 1, 2024, for FY 2025, allowing embassies to resume issuing visas. The EB-5 Immigrant Investor Program was created in 1990 to stimulate the economy through foreign investment.
#Eb5Visa #Immigration #Uscis #Employment #ForeignInvestment #VisaLimits #FiscalYear #EconomicGrowth
https://www.financialexpress.com/business/investing-abroad-america-eb-5-visa-annual-cap-for-unreserved-category-reached-for-fy-2024-3586779/
US Presidential Elections 2024: Impact on your investment strategy, key sectors to watch ahead of November’s vote - Investing Abroad News | The Financial Express
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As the US Presidential 2024 campaign intensifies and Kamala Harris leads in polls, global investors are taking steps to navigate potential market turbulence; According to the latest Morning Consult survey, Harris holds a narrow but significant lead, with 47% of voters supporting her compared to Trump’s 44%; Under a Harris White House, protectionism would likely take on a more targeted form, focusing on specific areas where US industries face unfair competition; Investors with significant exposure to companies dependent on Chinese manufacturing or exports may need to reassess their risk profiles; Harris’s likely emphasis on strengthening alliances and re-entering multilateral trade agreements could benefit sectors that have been destabilized by Trump’s more isolationist policies; The push towards renewable energy is expected to gain considerable momentum under a potential Harris administration; A Harris administration could prioritize expanding access to healthcare and increasing funding for health tech, telemedicine, and pharmaceutical research; Tax policy could change significantly with a Harris presidency, including higher capital gains taxes and increased corporate taxes; Safe-haven assets like US Treasuries and gold may become increasingly attractive as election uncertainty peaks; Building up a cash reserve ahead of the election is a strategic move worth considering
#UsPresidentialElections #InvestmentStrategy #KamalaHarris #MarketTurbulence #Protectionism #TradeAgreements #RenewableEnergy #Healthcare #TaxPolicy #SafehavenAssets #CashReserve
https://www.financialexpress.com/business/investing-abroad-harris-vs-trump-navigating-the-market-volatility-amid-us-presidential-elections-in-november-3584408/
Foreign investors pour Rs 32,365 crore into Indian equities in July
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Foreign Portfolio Investors (FPIs) invested Rs 32,365 crore into Indian equities in July, driven by expectations of continued policy reforms, sustained economic growth, and a stronger-than-expected earnings season. FPIs pulled Rs 1,027 crore from equities during the first two trading sessions of August. The flow of FPI investments has shown mixed trends following the budget announcement, which included an increase in capital gains tax on equity investments. In addition to equities, FPIs invested Rs 22,363 crore in the debt market in July, bringing the total debt market investment for the year to Rs 94,628 crore.
#ForeignPortfolioInvestors #Equities #Investment #PolicyReforms #EconomicGrowth #EarningsSeason #CapitalGainsTax #DebtMarket
https://www.financialexpress.com/market/foreign-investors-pour-rs-32365-crore-into-indian-equities-in-july-3573409/
Singapore leads FDI equity inflows to India in FY 2024, here's top 10 countries investing in India - Economy News | The Financial Express
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In FY 2023-24, Singapore emerged as the largest source of foreign direct investment (FDI) into India, despite a 31.55% drop in inflows to $11.77 billion. The total FDI into India fell to $44.42 billion, a 3.49% decrease from the previous year. The US was the third-largest investor in India, contributing $4.99 billion in foreign investments. Following the amendment of the India-Mauritius tax treaty in 2016, Singapore has become the preferred jurisdiction for routing foreign capital into India. The top 10 countries investing in India in FY24 are: Singapore, Mauritius, USA, Netherlands, Japan, UAE, UK, Cyprus, Germany, and Cayman Islands.
#Fdi #Investment #Singapore #India #Economy
https://www.financialexpress.com/policy/economy-fdi-inflows-in-fy24-singapore-top-investor-in-india-mauritius-us-japan-and-netherlands-in-the-list-of-top-5-3566999/
H-1B visa process: Keep STEM Graduates in American Act introduced by Congressman
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Congressman Thanedar has introduced the 'Keep STEM Graduates in America Act' to encourage international students studying STEM courses in the US to stay in the country after their studies. The act proposes changes to the H-1B visa process and aims to increase the number of available visas annually. It also emphasizes the importance of STEM graduates in contributing to innovation and growth in America. The act aims to make staying in the US more accessible for individuals capable of contributing to the industry and economy. Congressman Thanedar, an immigrant himself, understands the importance of keeping talented students in the country and proposes revisions to the visa process to provide more time for finding employment. The Foundation for India and Indian Diaspora Studies supports the bill, as it will benefit Indian and foreign students in finding opportunities to contribute to the US economy.
#H1bVisa #StemGraduates #VisaProcess #CongressmanThanedar #Us #InternationalStudents
https://www.financialexpress.com/business/investing-abroad-the-keep-stem-graduates-in-american-act-proposes-reforms-to-the-h-1b-visa-process-3558668/
Cabinet nod soon for India to join US-led IPEF trade pact
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The Union cabinet may soon take up a proposal from the commerce and industry ministry, seeking approval for India to sign the clean-economy and fair-economy agreements of the Indo Pacific Economic Framework for Prosperity (IPEF). India has already signed Pillar II of IPEF that deals with supply chain. The agreements on clean economy and fair economy will enter into force after at least five IPEF partners complete their internal legal procedures for ratification, acceptance, or approval. IPEF was launched in 2022 and has 14 member countries. India has joined Pillars II to IV of IPEF while maintaining an observer status in Pillar I. The agreement on clean economy aims to accelerate efforts towards energy security, climate resilience, and clean energy deployment. The agreement on fair economy seeks to create a transparent and predictable business environment and combat corruption. The next ministerial meeting of IPEF will be held virtually in September.
#India #Ipef #TradePact #CommerceMinistry #CleanEconomy #FairEconomy
https://www.financialexpress.com/policy/economy-cabinet-nod-soon-for-india-to-join-us-led-ipef-trade-pact-3556674/
Latest News Today Live Updates, July 15, 2024: Merchandise exports rise to $35.2 billion in June, says trade ministry - India News | The Financial Express
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Merchandise exports in India rose to $35.2 billion in June, driven by higher shipments of engineering goods and commercial vehicles. The data was released by the Commerce Ministry on July 15, 2024. Concurrently, merchandise imports in India increased to $56.18 billion during the same period. The Supreme Court dismissed a plea seeking a review in the Adani-Hindenburg case. Hindustan Unilever Limited (HUL) announced the sale of its Pureit business to A.O. Smith. Broadcom Inc. announced a 10-for-one stock split. The stock closed at $1700 on Friday and will trade on a split-adjusted basis. Delhi court extended the judicial custody of Aam Aadmi Party leader Manish Sisodia until July 22 in a money laundering case. The benchmark equity indices ended Monday's trading session in the positive territory. The Nifty 50 gained 84.35 points or 0.34% to settle at 24,586.50, while the BSE Sensex jumped 145.51 points or 0.18% to 80,664.86. Union Minister of State Jitendra Singh declared that Udhampur railway station will become a major junction. Vikram Misri assumed charge as Foreign Secretary on July 15. More than 5.31 lakh users of Android phones have downloaded the 'Metro Ride Kolkata App' since its release. The flood situation in Assam showed significant improvement on Monday as water levels receded rapidly across the state. The Coppa America final between Argentina and Colombia was postponed by more than one hour on Sunday as thousands of fans without tickets breached security and stormed into the stadium. The registration process for the Common Law Admission Test (CLAT) 2025 conducted by the Consortium of National Law Universities starts on July 15. The August 2024 visa bulletin has been made public by the US Department of State. The bulletin provides final action dates for approving applications for a change of status or issuing an immigrant visa. The US Federal Reserve's first rate cut since US inflation is heading downward is anticipated. Fed Chair Powell will be interviewed by David Rubenstein at the Economic Club of Washington today. Godfrey Philips shares rose 18% intraday to touch a fresh 52-week high of Rs 4,789.85. The stock closed at a price of Rs 4,057.10 in its last trading session. Train services on the Konkan Railway route were disrupted on Sunday evening due to a landslide caused by heavy rains in Maharashtra. The flood situation in Assam showed significant improvement on Monday as water levels receded rapidly across the state. The Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) marks a significant advancement in regional transportation within the National Capital Region. Vikram Misri assumed charge as Foreign Secretary on July 15. The registration process for the Common Law Admission Test (CLAT) 2025 conducted by the Consortium of National Law Universities starts on July 15. The Copa America final between Argentina and Colombia was postponed by more than one hour on Sunday as thousands of fans without tickets breached security and stormed into the stadium. The flood situation in Assam showed significant improvement on Monday as water levels receded rapidly across the state. The registration process for the Common Law Admission Test (CLAT) 2025 conducted by the Consortium of National Law Universities starts on July 15. The August 2024 visa bulletin has been made public by the US Department of State. The bulletin provides final action dates for approving applications for a change of status or issuing an immigrant visa. The US Federal Reserve's first rate cut since US inflation is heading downward is anticipated. Fed Chair Powell will be interviewed by David Rubenstein at the Economic Club of Washington today. Godfrey Philips shares rose 18% intraday to touch a fresh 52-week high of Rs 4,789.85. The stock closed at a price of Rs 4,057.10 in its last trading session. Train services on the Konkan Railway route were disrupted on Sunday evening due to a landslide caused by heavy rains in Maharashtra.
#MerchandiseExports #SupremeCourt #HindustanUnilever #Broadcom #AamAadmiParty #EquityIndices #UdhampurRailwayStation #VikramMisri #AndroidApp #AssamFlood #Clat2025 #CopaAmericaFinal #UsVisaBulletin #UsFederalReserve #GodfreyPhilips #KonkanRailway
https://www.financialexpress.com/india-news/latest-news-today-july-15-2024-live-updates/3553522/
June CPI inflation at 5.08%: Inflation may ease on monsoon pick up, but dashes hopes of any rate cut by RBI before Dec, say economists
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Economists expect retail inflation to ease in the coming months as rainfall has regained momentum. India's retail inflation rose to a four-month high of 5.08% in June on higher food costs. Food inflation rose to 9.55% in June from 8.69% in May and 4.55% in June 2023. The inflationary impact is felt more acutely in rural areas, where CPI hit 5.66% compared to 4.39% in urban areas. The Reserve Bank of India Monetary Policy Committee (MPC) is expected to be more hawkish and any decision to cut rates will not come before December 2024. An inflation print of +5% will likely keep the MPC more hawkish. The RBI is likely to maintain its pause stance well into December 2023, cautiously observing these inflationary pressures and assessing the broader economic impact of the previous 250 basis points rate hike.
#Inflation #Monsoon #RateCut #Rbi #Economists
https://www.financialexpress.com/policy/economy-june-cpi-inflation-at-5-08-inflation-may-ease-on-monsoon-pick-up-but-dashes-hopes-of-any-rate-cut-by-rbi-before-dec-say-economists-3553227/
Fed Rate Cut: Will the US CPI data of June prepare the Fed to cut rates sooner? - Investing Abroad News | The Financial Express
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The US CPI monthly index remained unchanged in May while the annual index rose 3.3 percent. The core inflation index rose 3.4 percent over the past 12 months, showing a rise of 0.2 percent in May. All eyes are on the June US CPI data to be released on July 11, 2024. The US Fed will hold its FOMC meeting on July 30-31, and the markets anticipate that policy rates will remain unchanged. Fed Chair Jerome Powell stated the US economy is no longer overheated, with a cooling job market and a stronger case for interest rate cuts. The markets have discounted Fed action, expecting Powell to deliver the first rate cut in September. The US central bank remains concerned about inflation stickiness despite a decrease from 9.1% in June 2022 to 3.3% in May 2024. The US elections in November, US CPI data, and the US labor market remain the biggest factors that could determine how the US markets close in 2024.
#FedRateCut #UsCpiData #UsEquityMarkets
https://www.financialexpress.com/business/investing-abroad-us-cpi-data-for-june-to-be-released-today-fed-prepares-for-potential-rate-cut-3549771/
Powell testimony to Congress: Latest on US CPI data, interest rates, economy and unemployment
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Chair Jerome H. Powell testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs and presented the Semiannual Monetary Policy Report. The next FOMC meeting takes place on July 30-July 31 while the US CPI data for June arrives on July 11. Powell cautioned that maintaining restrictive policies for an extended period of time may impede economic growth. Inflation has eased notably over the past couple of years but remains above the Committee’s longer-run goal of 2 percent. The unemployment rate was at a low level of 4.1 percent in June. Payroll job gains averaged 222,000 per month in the first half of the year. The stock market is hitting record levels due to expectations of interest rate cuts by the US Federal Reserve. The S&P 500 and Nasdaq Composite closed higher, setting fresh record highs. Powell stated that the Committee will continue to assess incoming data and their implications for the evolving outlook, the balance of risks, and the appropriate path of monetary policy.
#JeromeHPowell #Fomc #UsCpiData #InterestRates #Economy #Unemployment
https://www.financialexpress.com/business/investing-abroad-fomc-continues-to-make-decisions-meeting-by-meeting-powell-in-his-testimony-to-congress-3549334/
US Federal Reserve Chair Jerome Powell testimony to Banking Committee today
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US Federal Reserve Chair Jerome Powell will testify before the U.S. Senate Committee on Banking, Housing, and Urban Affairs and submit the Semiannual Monetary Policy Report to Congress on July 9. On July 10, he will testify before the U.S. House Financial Services Committee. Powell's testimony will focus on the Federal Reserve's monetary policy outlook. Wall Street investors are awaiting key inflation data and earnings reports to assess the outlook. The FOMC meeting takes place on July 30-31, and the US CPI data for June arrives on July 11.
#UsFederalReserve #JeromePowell #Testimony #Congress #MonetaryPolicy #InflationData #EarningsReports
https://www.financialexpress.com/business/investing-abroad-federal-reserve-chief-powells-two-day-testimony-to-congress-starts-today-3548543/
US Jobs for Accountants: Indian accounting professionals thrive in US with STEM opportunities
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The recent approval of STEM accounting has created career opportunities for Indian accountants to make an impact in the US. Indian qualifications and expertise in the accounting domain has bolstered their standing in the competitive US job market. The approval has opened new avenues for these professionals, enabling them to leverage the increasing demand for skilled individuals in the accounting field along with data analysis, financial modeling, and risk management. The incorporation of STEM with accounting offers Indian professionals in the US a wealth of opportunities for career advancement and professional growth in the accounting industry. By embracing this convergence of disciplines, individuals can expand their skill set, broaden their horizons, and pave the way for a successful and fulfilling career in a competitive market.
#UsJobs #Accountants #IndianProfessionals #StemOpportunities
https://www.financialexpress.com/business/investing-abroad-stem-opportunities-for-indian-accounting-professionals-for-an-impactful-career-in-the-us-3531268/
US Stock Market Holidays List: Nasdaq and NYSE open or closed today? - Investing Abroad News | The Financial Express
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The US stock market is closed on Wednesday, June 19th, and will reopen on Thursday, June 20th. Nasdaq U.S. equities and options markets will be closed on Wednesday, June 19, 2024, in observance of the Juneteenth Holiday. The New York Stock Exchange (NYSE) and the Nasdaq will be closed on June 19 due to Juneteenth National Independence Day. Next month, there will be another stock market holiday on Thursday, July 4, 2024, and will close early on Wednesday, July 3, in observance of the Independence Day holiday. Last week, the S&P 500 and Nasdaq Composite gained 1.58% and 3.24%, respectively, notching their seventh winning week in eight amid a strong rally in technology stocks. The Federal Reserve signaled only one interest rate cut this year which could come as late as December. On June 17, 2021, US passed legislation making Juneteenth a federal holiday.
#UsStockMarket #Nasdaq #Nyse #Juneteenth #IndependenceDay
https://www.financialexpress.com/business/investing-abroad-are-nyse-and-nasdaq-stock-exchanges-closed-today-3527661/
Book Review | Socialised risk
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Ruchir Sharma argues capitalism is ruined unless governments stop stimulating during recoveries. Consumer confidence hovers at 2009 levels despite stock markets breaking records. America is becoming least tolerant of financial distress. The government already has an outsized role in the US economy. The book dissects economic trends and policies, highlighting the forces driving inequality, stagnation, and financial instability. Sharma proposes that governments need to stop stimulating during recoveries.
#RuchirSharma #Capitalism #GovernmentIntervention #EconomicInequality
https://www.financialexpress.com/life/lifestyle-book-review-socialised-risk-3525906/
Global equity markets face volatility as key indices reach multi-week lows
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Global stock markets outside America, including the UK, France, Japan, China, and New Zealand, have hit multi-week lows. The FTSE 100 index in the UK has fallen to a four-week low of 8,152.00 index points, while France's CAC 40 index has decreased to a four-week low of 7,916.00 index points. The Nikkei 225 index in Japan has dropped 1.3% to close at 38,054, and the Shanghai Stock Exchange Composite Index in China has decreased to a four-week low of 3,088.00 index points. Additionally, the S&P/NZX 50 index in New Zealand dropped 1.04% to 11,557, marking its lowest level in two weeks. The recent declines in these global stock markets are driven by various economic pressures and investor sentiment.
#EquityMarkets #StockMarkets #Volatility #Indices #MultiweekLows
https://www.financialexpress.com/business/investing-abroad-global-market-watch-major-equity-indices-hit-lows-amid-economic-uncertainty-3507306/
'Grandfather has given assurance': What Juvenile Justice Board order said while granting bail to Pune Porsche crash accused
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The Juvenile Justice Board granted bail to a 17-year-old boy who allegedly crashed his luxury Porsche car into a motorbike, resulting in the death of two techies in Pune. The boy was granted bail on a surety of Rs 7,500 and an assurance from his grandfather to keep him away from bad company. The boy appeared before the Juvenile Justice Board and was granted bail hours later. The police claim that the boy was drunk at the time of the accident. The board imposed conditions including parental responsibility, refraining from future offenses, and studying traffic regulations. The board also mandated the boy to compose a 300-word essay on road accidents and their remedies.
#JuvenileJusticeBoard #Bail #PunePorscheCrash #Accident #DrunkDriving
https://www.financialexpress.com/india-news/grandfather-has-given-assurance-what-juvenile-justice-board-order-said-while-granting-bail-to-pune-porsche-crash-accused/3497141/
US EB-5 Visa Program: Investors focus on projects with financial returns and job creation opportunities
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The EB-5 visa program has become a pivotal driver of investment in the American real estate sector. Investors prioritize projects that offer financial returns and demonstrate a solid and feasible job creation strategy. The reliability and track record of developers have become crucial factors for EB-5 investors. Regulatory updates have prompted a strategic shift in the EB-5 investment landscape. Investors are increasingly forming partnerships with regional centers that specialize in navigating regulatory complexities. The mandate of the EB-5 program to create jobs significantly shapes investor choices. The landscape for EB-5 visa applicants focusing on real estate investment is undergoing significant transformation.
#Eb5VisaProgram #RealEstateInvestment #JobCreation #Investors #Developers #RegulatoryChanges
https://www.financialexpress.com/business/investing-abroad-us-eb-5-visa-program-transforming-american-real-estate-investment-opportunities-3483563/
‘First of all…’: S Jaishankar rejects US President Biden's ‘xenophobic’ remarks
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External Affairs Minister S Jaishankar dismissed US President Joe Biden’s assertion that “xenophobia” hindered India’s economic progress during an ET round table on Friday. Jaishankar countered, affirming India’s robust economy and historical openness as a society. He highlighted the Citizenship Amendment Act (CAA) as evidence of India’s welcoming stance towards those in need. The CAA facilitates citizenship for immigrants fleeing persecution in neighboring countries. Biden’s remarks earlier in the week had criticised xenophobia in China, Japan and India, attributing it to economic limitations.
#SJaishankar #JoeBiden #Xenophobia #CitizenshipAmendmentAct #IndiausRelations
https://www.financialexpress.com/india-news/first-of-all-s-jaishankar-rejects-us-president-bidens-xenophobic-remarks/3477182/
US to accept H-2B visa petitions for workers for the late second half of 2024
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US Citizenship and Immigration Services (USCIS) has reached the cap for the additional 19,000 H-2B visas made available for returning workers for the early second half of fiscal year 2024. Of the 64,716 additional visas, 44,716 are available only for returning workers, while the remaining 20,000 visas are set aside for nationals of El Salvador, Guatemala, Honduras, Haiti, Colombia, Ecuador, and Costa Rica. USCIS is still accepting petitions for H-2B nonimmigrant workers for the additional 20,000 visas allotted for nationals of the aforementioned countries who are exempt from the returning worker requirement. Starting April 22, 2024, USCIS will begin accepting petitions for workers for the late second half of FY 2024, requesting employment start dates from May 15 to September 30, 2024. The total number of foreigners who may receive an H-2B nonimmigrant visa is up by 64,716 for FY 2024.
#H2bVisa #Uscis #Workers #ReturningWorkers #VisaPetitions
https://www.financialexpress.com/business/investing-abroad-us-jobs-h-2b-visa-petitions-for-workers-for-the-late-second-half-of-2024-process-begin-3468242/
Managing the West Asian Quagmire is imperative for global peace
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West Asia is experiencing heightened tensions due to recent events, including Iran's attack on Israel and Israel's ongoing conflict with Hamas. Iran launched hundreds of drones and missiles on Israel in retaliation for an Israeli air strike in Syria that killed seven Iranians. The attack marked a change in Iran's strategy, as it relied less on proxies and deployed long-range missiles. The region was already on the brink of war between Israel and Hamas, with thousands of Palestinians killed and Israel refusing a ceasefire. The US and G7 countries have expressed support for Israel but urged restraint. India, with its cordial relations with all parties involved, is concerned about the impact on its expatriates, energy security, and maritime security. The world cannot afford another war, as it could escalate into a global confrontation involving the US, Russia, and China. The conflict is occurring at a critical time for US foreign policy, with both Democrats and Republicans focused on West Asia. The author calls for diplomatic efforts to de-escalate the situation and protect global shipping sea lanes. India, with its neutral stance, should play a role in bringing the parties to the table.
#WestAsia #Iran #Israel #Hamas #Tensions #Diplomacy #GlobalPeace
https://www.financialexpress.com/world-news/managing-the-west-asian-quagmire-is-imperative-for-global-peace/3465863/
Managing the West Asian Quagmire is imperative for global peace
==========
West Asia is experiencing heightened tensions due to recent events, including Iran's attack on Israel and Israel's ongoing conflict with Hamas. Iran launched hundreds of drones and missiles on Israel in retaliation for an Israeli air strike in Syria that killed seven Iranians. The attack marked a change in Iran's strategy, as it relied less on proxies and deployed long-range missiles. The region was already on the brink of war between Israel and Hamas, with thousands of Palestinians killed and Israel refusing a ceasefire. The US and G7 countries have expressed support for Israel but urged restraint. India, with its cordial relations with all parties involved, is concerned about the impact on its expatriates, energy security, and maritime security. The world cannot afford another war, as it could escalate into a global confrontation involving the US, Russia, and China. The conflict is occurring at a critical time for US foreign policy, with both Democrats and Republicans focused on West Asia. The author calls for diplomatic efforts to de-escalate the situation and protect global shipping sea lanes. India, with its neutral stance, should play a role in bringing the parties to the table.
#WestAsia #Iran #Israel #Hamas #Tensions #Diplomacy #GlobalPeace
https://www.financialexpress.com/world-news/managing-the-west-asian-quagmire-is-imperative-for-global-peace/3465863/
US F-1 Student Visa Rejection Reasons: Refusal rates reach record levels
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In the United States, F-1 visa refusal rates have reached record levels, with over 250,000 international students turned away from studying in the country. In 2023, the refusal rate rose to 36 percent totaling 253,355 refusals, exceeding 2022 levels. The direct economic effect of the visa refusals is estimated at over $7 billion annually. The more than 1 million international students at US HEIs contributed over $40 billion to the US during academic year 2022-23. The rise in Indian student applications may be one reason for the high refusal rates, as Indian applicants received 29% of all issuances last year and historically are more likely to be refused a visa than their Chinese counterparts. US immigration officials may also have been potentially extremely subjective in student visa interviews. Experts have called on the Biden administration to be more transparent about such student visa denials, implementing a fair policy for reviewing student applications. Last year, the US reported this trend of rising visa refusal rates. Yet despite rising rejection rates, student visa issuances in the US managed to exceed pre-COVID levels. The F-1 visa allows an international student to temporarily live in the US for a certain period while studying at a college or university certified by the Student and Exchange Visitor Program (SEVP).
#UsF1StudentVisa #VisaRefusalRates #InternationalStudents #EconomicImpact
https://www.financialexpress.com/business/investing-abroad-us-study-visa-rejections-peak-in-2023-what-it-means-to-american-economy-and-students-3465731/
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