Business

[ad_1] With the US economy shrinking unexpectedly during the first quarter of 2025, anticipations that the Fed will gradually introduce rate cuts are high.Federal reserve policymakers, however, are unlikely to read too much into the first-quarter GDP decline, though traders believe clearer signs of economic weakness by June could prompt the central bank to start cutting interest rates again, potentially lowering them by a full percentage point before the year ends, Reuters reported.Figures released by the US Commerce Department on Wednesday showed that the economy contracted at an annual rate of 0.3%, falling far short of forecasts and marking a sharp reversal from the 2.4% growth recorded in the last quarter of 2024. The downturn, which caught markets off guard, was fuelled by a jump in imports, slowing consumer spending, and weaker government expenditure.“The downturn in real GDP in the […]

[ad_1] Akshaya Tritiya 2025 Bank Holiday: Banks will operate normally across all states except one on Wednesday, April 30, 2025, for Basava Jayanti and Akshaya Tritiya. It is an an auspicious Hindu festival associated with new ventures and gold purchases.Bank Holiday On April 30, 2025Karnataka has declared April 30, 2025, a bank holiday under the Negotiable Instruments Act, recognising Basava Jayanti and Akshaya Tritiya. All banking institutions, including public and private sectors, will suspend in-branch operations. About Basava JayantiThe Lingayat community of Karnataka observes Basava Jayanthi to commemorate the birth anniversary of Basavanna, the 12th-century poet-philosopher who established the Lingayat tradition.Akshaya Tritiya Banking Schedule - April 30, 2025; State Wise InformationAkshaya Tritiya, also called Akti or Akha Teej, occurs on the third day of Shukla Paksha in the Hindu month of Vaishakha. In 2025, the celebration falls on April 30.Akshaya […]

[ad_1] US markets opened in the red Wednesday morning, reacting to fresh economic data that showed the economy unexpectedly contracted in the first quarter of 2025. Investor sentiment soured sharply, sending major indexes tumbling.As of 9:33 AM EDT, the Dow Jones Industrial Average (DJIA) dropped 422.94 points to 40,104.68, down 1.04per cent . The Nasdaq Composite slid 363.98 points to 17,097.34, a drop of 2.08per cent , while the S&P 500 fell 82.88 points to 5,477.95, down 1.49per cent.The sharp declines came after the US Commerce Department reported that gross domestic product (GDP) decreased at an annual rate of 0.3per cent in Q1 2025, a surprise downturn largely attributed to a surge in imports and slowing consumer and government spending.The volatility index VIX, often called Wall Street’s fear gauge, spiked 10.22per cent to 26.64, signaling rising market anxiety.In commodities, gold […]

[ad_1] Every city tells its story through its architectural marvels, much like Charminar does for Hyderabad and Howrah Bridge does for Kolkata. Andhra Pradesh’s capital, Amaravati, will soon be joining the list with its inverted lily-shaped assembly building standing tall in the heart of the city.Amaravati, also referred to as Praja Rajdhani or the "people’s capital" by chief minister N Chandrababu Naidu, will spread across 217.23 square kilometres along the left bank of the Krishna River in Guntur district.The new capital project will be relaunched by PM Narendra Modi on May 2. Naidu’s dream of a modern capital was first launched after the bifurcation of Andhra Pradesh in 2014, but construction stalled in 2019 under the YSRCP government led by Jagan Mohan Reddy. Now, with Naidu back in power, the long awaited development works will begin again.State municipal administration and […]

[ad_1] Furniture giant IKEA is planning to roll out smaller, compact-format stores, marking a “huge shift” in its strategy, to be more accessible for Indian customers. The company, currently in its second phase of growth in India, will be expanding across smaller cities in the country through a network of small-format stores developed according to the need to the specific locations and areas. These stores could be as small as 10,000 square feet, a stark contrast to its typical large-scale outlets, making them ideal for neighbourhood shopping malls and high street locations, IKEA India country expansion manager Pooja Grover told PTI.“We are trying to integrate various aspects and offer different kinds of experiences across different formats... From a size point of view, this is a huge benefit for us in India as well, where we will be more accessible to […]

[ad_1] NEW DELHI: Indian airlines are staring at additional weekly operational expenses of approximately Rs 77 crore due to closure of Pakistan airspace, amid escalating tensions in the aftermath of the Pahalgam terror attack.The closure is forcing airlines to take longer alternative routes, increasing fuel costs and flight durations significantly.Based on the number of international flights from northern India and the extended flight time, news agency PTI reported that the monthly impact on operational costs could cross Rs 307 crore.According to a senior airline executive quoted by PTI, international flights to North America now require up to 1.5 hours of additional flying time, which can increase costs by Rs 29 lakh per flight, including fuel, landing, and parking charges due to unscheduled technical halts.For European routes, the extra flying time is also around 1.5 hours, with an added cost of […]

[ad_1] Stock market holiday (AI image) Stock market holidays 2025: Indian stock exchanges, including the National Stock Exchange (NSE) and the BSE, will remain closed on Thursday, May 1, 2025, observing Maharashtra Day, a regional holiday commemorating the formation of Maharashtra state in 1960.Trading across all segments, including equities, equity derivatives, currency derivatives, and securities lending and borrowing (SLB), will be suspended for the entire day.However, while equity markets will be completely shut, the Multi Commodity Exchange (MCX) will operate on a modified schedule, with the morning session (9:00 am to 5:00 pm) closed but the evening session (5:00 pm to 11:30 pm) remaining open for trading in commodities such as gold, silver, crude oil, and agricultural products.Investors are advised to adjust their trading activities, settlement obligations, and portfolio strategies accordingly. All exchanges will resume regular trading on Friday, May […]

[ad_1] Pakistan and the IMF reached an agreement in July 2024 for a $7-billion package under the extended fund facility. (AI image) India-Pakistan tensions escalate: India may challenge a proposed $1.3-billion International Monetary Fund (IMF) loan for Pakistan at the forthcoming board meeting of the global institution, according to three sources privy to the deliberations.On May 9, the IMF board will evaluate a fresh $1.3-billion arrangement for Pakistan under its climate resilience loan programme. Additionally, it will assess the ongoing $7-billion bailout package, including the status of policy commitments."There is a view that support to terror by the neighbouring nation be flagged at the board meeting when the loan is taken up," a source informed ET.Pakistan and the IMF reached an agreement in July 2024 for a $7-billion package under the extended fund facility. The programme necessitated Pakistan to implement […]

[ad_1] Gold’s ability to deliver high long-term returns significantly declines over time. (AI image) By Chethan ShenoyGold buying on Akshaya Tritiya: Traditionally, Gold has always been considered a safe haven asset for investors, offering protection during times of uncertainty. But it is important to understand that it a sentiment driven asset.The price of gold is not driven by underlying fundamental metrics, but by demand and supply.Gold has a tendency to perform in cycles and its recent performance has come in the last 5 years due to global uncertainty, rising inflation, geopolitical tensions, and strong central bank demand. Investors tend to purchase based on recent performance, exhibiting recency bias, which often leads them to buy at the peak.They should avoid investing in Gold purely based on its recent performance.We analysed the different probabilities of CAGR of Nifty vs. Gold over different […]

[ad_1] The performance of dollar bonds shows a decline of nearly 4% this month. (AI image) Pakistan's dollar bonds and equities are heading towards their poorest monthly performance since 2023, with growing India-Pakistan tensions affecting investor confidence.The performance of dollar bonds shows a decline of nearly 4% this month, whilst equities have decreased almost 3%. In contrast, Indian assets remain relatively unaffected, with both stocks and domestic bonds showing positive returns this month.In April, Pakistani equities have shown weaker performance compared to regional markets, whilst the rupee and dollar bonds declined amidst potential conflict with India, according to a Bloomberg report.Pakistan's Information Minister Attaullah Tarar claimed on Wednesday that India would initiate military operations within 24 to 36 hours, stating that Pakistan would respond "assuredly and decisively."Pakistan Stock MarketsThe relationship between these nuclear-armed nations worsened following the terror attack on […]