Business

[ad_1] MUMBAI: A smart recovery in the US markets overnight, positive global cues and short covering in Tuesday's session aided an impressive comeback for the stock market after Monday's rout. At close, the sensex was up 1,089 points or 1.5% at 74,227 points while the Nifty was up 374 points or 1.7% at 22,536 points. On Monday, the sensex had lost 2,227 points, its sixth biggest single-day fall ever.Tuesday's rise came on the back of reports that several countries have reached out to the US to negotiate trade terms and overcome impending hurdles to bilateral trade after Trump proposed steep new tariffs on April 2 on many of the US's trading partners."Following positive global cues, led by interest of many nations to enter into bilateral agreements with the US, the domestic market witnessed a recovery," said Vinod Nair of Geojit […]

[ad_1] Global markets experienced significant declines on Wednesday as the US-China trade war escalated. China retaliated to US tariffs with an announcement of new levies of 84% on US goods, causing US equity futures to fall by 1.7%. European stocks also slumped, losing more than 4%, according to Bloomberg.The selloff continued as the yield on 30-year US Treasuries surged above 5% for the first time since November 2023, signalling growing concerns about the US bond market’s status as a safe haven. The surge in bond yields spread across global markets, with UK borrowing costs rising to their highest levels since 1998 and Japanese 40-year bond yields hitting a record peak. The US dollar weakened for a second consecutive day.“We’re well into an escalation phase in the trade war, and investors have nothing to hold onto at the moment,” said Alexandre […]

[ad_1] India’s economy is set to grow at 6.7% in the current fiscal year, driven by robust domestic demand, rising rural incomes, and moderating inflation, according to the Asian Development Bank’s (ADB) Asian Development Outlook (ADO) report for April 2025. ADB forecasts the GDP to continue growing at a pace of 6.8% in FY26 (2026-27), supported by favourable fiscal and monetary policies, news agency PTI reported. The Reserve Bank of India (RBI) also revised its growth forecast for the current fiscal year, lowering it to 6.5% from the earlier estimate of 6.7%, citing the impact of global trade and policy uncertainties.Mio Oka, ADB’s Country Director for India, emphasized that the country’s growth remains resilient despite global challenges, driven by infrastructure development and job creation initiatives by the Government of India. "The strengthening of the manufacturing sector, regulatory reforms, a solid […]

[ad_1] Lego opened a $1 billion factory in Vietnam, marking a major step in the Danish toymaker’s bid to strengthen its presence across Asia. The new plant is located in the southern province of Binh Duong, is the company’s second facility in Asia and its sixth globally. The factory is designed to cater exclusively to the growing demand in Asian markets, with products destined for customers in countries such as Australia, Japan, South Korea, India, and Vietnam itself. It will not export to the United States, where a steep 46 per cent tariff on Vietnamese goods has discouraged many international firms from shipping there.The company plans to employ more than 4,000 people at the site.Lego’s CEO, Niels Christiansen, said the move was driven by both strategic and practical factors.He said that it was important “to have proximity to some of […]

[ad_1] The Securities and Exchange Board of India (Sebi) has eased disclosure norms for foreign portfolio investors (FPIs) by increasing the asset threshold for granular beneficial ownership disclosures from Rs 25,000 crore to Rs 50,000 crore. This move comes in response to the significant growth in the market size, with cash equity trading volumes more than doubling between FY 2022-23 and FY 2024-25.According to PTI report, under the new framework FPIs (either individually or as a group) holding more than Rs 50,000 crore of equity assets under management (AUM) in Indian markets are now required to disclose detailed information about all entities holding any ownership, economic interest, or exercising control, on a full look-through basis.The revised threshold and disclosure requirements will come into effect immediately. Sebi’s board had approved this proposal last month. In August 2023, Sebi had mandated that […]

[ad_1] Sanjay Nayar wears many hats. He is the founder and chairman of Sorin Investments, part of the promoter group of Nykaa and president of industry body Assocham. In an interview with TOI, the former banker, who was also part of the organisers of Startup Mahakumbh, discusses the impact of Trump's tariffs and how govt and business should navigate it. Excerpts:How US tariffs will impact India's exports, economy?US tariffs will undoubtedly pressure select Indian exporters, especially in sectors like textiles and engineering goods. However, India's economic fundamentals remain solid and domestic demand-led growth offers insulation. Manufacturers will respond by doubling down on supply chain diversification and leveraging FTAs with UAE and Australia to reduce over-dependence on US. "China+1" sentiment will continue to work in India's favour, with American buyers now considering India as a reliable alternative sourcing hub. While some […]

[ad_1] NEW DELHI: NCLAT has allowed state-owned Canara Bank and Indian Bank to pursue proceedings against former IL&FS directors, who are not part of the new board, to declare them as wilful defaulter. However, NCLAT said those directors, who are part of new board of IL&FS and its various subsidiaries after Oct 1, 2018, would remain protected."We are of view this protection shall extend to professional directors, who have been reappointed in IL&FS and subsidiaries, who are part of present board. With respect to IL&FS and IL&FS Group...we grant leave to bank to make an application to proceed against them." [ad_2] Source link

[ad_1] Goldman Sachs economists have joined several other Wall Street forecasters in cutting their targets for the S&P. However, for now, the economists view the selloff as an event-driven bear market rather than a cyclical bear market. Stocks tend to suffer average declines of 30% in both kinds of bear markets, but "differ in terms of duration with event-driven downturns being shorter with a faster recovery profile", they said. However, they said the equity selloff could well turn into a longer-lasting cyclical bear market as recession risks mount. [ad_2] Source link

[ad_1] India is eager to progress with the bilateral trade agreement, aiming for completion by fall 2025. (AI image) India is willing to consider duty-free imports from the United States across various sectors, including those under production-linked incentive (PLI) schemes, according to sources familiar with the matter. A substantial offer from India could hasten the proposed bilateral trade agreement (BTA), aiding in the removal of the 26% reciprocal tariff imposed on India since April 9.The Production Linked Incentive (PLI) programme presently encompasses 14 different industries with a budget allocation of Rs 1.97 lakh crore, including sectors such as mobile phones, drones, white goods, telecom, textiles, automobiles, specialty steel and pharmaceuticals.The duty-free access would require compliance with strict rules of origin, necessitating 30-40% value addition and tariff heading modifications as essential criteria.Looking for middle ground"Inter-ministerial consultations are on what can be […]

[ad_1] The Beacon School has officially opened in Sector 64, Gurugram, offering a transformative approach that blends a CBSE-aligned curriculum with real-world project-based application. Spread across 5 acres, the AQI controlled K-12 school is designed to foster curiosity, critical thinking, and holistic development, ensuring that students grow into confident, self-aware learners ready to take on the world. Beacon’s Philosophy centers on encouraging students to be comfortable with who they are as they journey to become their best selves. What truly defines the school is the belief that education is not a static journey but an ever-evolving process of becoming, where every challenge, question, and success propels students closer to their potential and purpose. An education model built for the futureBeacon kindles the spark that fuels a lifelong journey of growth and self-discovery through an innovative four-fold evolved learning curriculum that […]