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India can play a key role in building a resilient global electronics supply chain, said Cristiano Amon, chief executive of US chip giant Qualcomm Inc. In an interview with ET's Romit Guha and Himanshi Lohchab, Amon said the country has an opportunity to create large companies that serve both the domestic and global markets in areas such as semiconductor packaging and manufacturing. Edited excerpts: What are the opportunities for Qualcomm in India? There's an incredible opportunity with the transition to 5G. But it's not only 5G, but also the incredible opportunity that is developing with Gen AI and the opportunity to do Gen AI at the edge, not only at data centres, but across many different industries. What's Qualcomm's investment plan for India? India is our largest R&D site outside San Diego. We have a presence in a number of sites — from Hyderabad, Bengaluru, Chennai and Noida. The majority of our chips are designed in India, both hardware and software. With the world looking for alternatives to make the overall electronic supply chain more resilient, we see that India has an important role to play, an opportunity to create over time, very large Indian companies serving not only the Indian market, but also global, whether it's smartphone industrial modules, whether it's semiconductor packaging, and eventually semiconductor manufacturing.

United Arab Emirates — China, Iran and Russia have begun a joint naval drill in the Gulf of Oman, a crucial waterway near the mouth of the Persian Gulf, officials said Tuesday. Footage aired by Chinese state television and a video released by the Russian navy showed the ongoing drill, known as «Marine Security Belt 2024.» China sent the guided-missile destroyer Urumqi and the guided-missile frigate Linyi to the exercise. Russia's forces are being led by the Varyag, a Slava-class cruiser.

Stocks that are trading heavily or have substantial price changes on Tuesday: Southwest Airlines, Asana fall; Oracle, 3M rise

Housing and Urban Development Deputy Secretary Adrianne Todman will serve as acting secretary when Marcia Fudge's resignation takes effect March 22

The National Small Business Association has won a court challenge against the Corporate Transparency Act, a law designed to combat money laundering

Advertising has always walked a thin line between embellishment and fabrication. In the new age of generative artificial intelligence, the latter is becoming easier. Making an online ad no longer requires careful staging of well-lit photographs because now they can be made and enhanced in fantastical ways.

companies are likely to provide better salary hikes this year than those headquartered abroad to their India-based employees, continuing a trend that started two years ago, according to a survey. Professional services firm Aon, which surveyed more than 1,400 organisations in 45 sectors, estimates India-based companies to pay a 9.6% increment on average and foreign-headquartered firms to pay 9.3%. Compared with 2023, the hikes will be smaller for both groups.

(Reuters) — The U.S. federal budget deficit grew in February with outlays surging as annual tax-filing season kicked into gear and interest costs on the national debt kept rising, the U.S. Treasury Department said on Tuesday.

Quiver Quantitative — The failure of Silicon Valley Bank (SVB) last year came with a hefty price tag, not just for the bank itself, but also for the US banking system at large. A crucial yet overlooked aspect of SVB's collapse was the $285 million in fees charged for prematurely ending emergency financing from the Federal Home Loan Bank (FHLB) system. This fee, necessary to retire billions in financing obtained by SVB in a desperate bid to survive a run on deposits, is the largest of its kind for any bank failure since before the 2008 financial crisis. This situation highlights the significant role of FHLBs in providing emergency lending, even to banks that eventually fail, and brings into focus the ongoing debate in Washington about reforming this Depression-era system initially designed to finance mortgage lending.

Bitcoin market cap surpasses Silver to take eighth spot in global asset rankings The recent surge in momentum can be largely attributed to the successful launch of spot Bitcoin exchange-traded funds (ETFs) in the United States on January 11. These ETFs, spearheaded by prominent financial entities like BlackRock Inc. and Fidelity Investments, have collectively garnered approximately $9.5 billion in net inflows.

Quiver Quantitative — Jamie Dimon, CEO of JPMorgan (JPM), recently expressed caution about the U.S. economic outlook, suggesting that a recession could still be a possibility. Speaking at the Australian Financial Review Business Summit, Dimon remarked that while many are expecting a soft economic landing, the chances of such an outcome might be lower than anticipated. He voiced concerns about stagflation, a scenario where inflation and unemployment rise simultaneously while economic growth stalls. Dimon’s comments come at a time when economic indicators have been skewed due to the Covid-19 pandemic, leading him to advise the Federal Reserve to wait for more clarity before cutting interest rates.

According to data from the US Bureau of Labor Statistics, US CPI rose to 3.2% in February, surpassing expectations for it to remain unchanged from January's figure of 3.1%. Shelter and gasoline were the most significant contributors, responsible for over 60% of the monthly increase in the index for all items. Hotter than expected US inflation tempers Fed rate cut expectations Nathaniel Casey, investment strategist at Evelyn Partners, said that although the figure was «warmer than expected», it is unlikely to prevent the Fed from cutting rates later in the year. Quilter Investors...

United States is preparing a new military aid package for Ukraine that could be worth as much as $400 million, two U.S. officials told Reuters on Tuesday, the first such move in months as additional funds for Kyiv remain blocked by Republican leaders in Congress. The officials, speaking on condition of anonymity, said an announcement was expected later on Tuesday. One of the officials said that the funding for this package is from credits refunded to the Pentagon for recent purchases.

India negotiate lower prices for Russian oil as it deepens sanctions on tankers carrying the petroleum above Western price caps, President Joe Biden's energy envoy said on Tuesday. Washington imposed sanctions late last month on Russia's leading tanker group Sovcomflot on the two-year anniversary of Moscow's full scale invasion of Ukraine. It also designated 14 crude oil tankers as property in which Sovcomflot had an interest. That led to concerns in India of a potential dent in Russian oil sales to India, the biggest buyer of Russian seaborne crude, and that the fresh sanctions could complicate efforts by Indian state refiners to secure annual supply deals, Reuters reported late last month.

Joe Biden tried his best to present himself as an energetic and enthusiastic person in his State of the Union address to the joint session of the US Congress, special counsel Robert Hur has made several damning revelations in his report. He has written in his report that the commander-in-chief confused key dates during his October interview, he even forgot the year of death of his son Beau and when Donald Trump was elected president of the country, reports the 'New York Post'.

By David Shepardson

By David Shepardson

The world’s original cryptocurrency, Bitcoin, scaled a fresh peak on Monday. It touched $72,234 per token, whipping past its pandemic summit of almost $69,000 back in November 2021. It lost about three-fourths of its value in a prolonged slump after that, with cryptosceptics gloating over the deflation of an ‘asset’ with neither any intrinsic value nor yield.

ALSO READ: US inflation rises again in Feb The core consumer price index (CPI), which excludes food and energy costs, rose 0.4 per cent from January to February, a pickup from the previous month’s figure of 0.3 per cent, according to government data released on Tuesday. On annual basis, the consumer prices rose 3.2 per cent last month, faster than January’s 3.1 per cent. The latest consumer prices data indicates that stubborn inflation remains a persistent challenge for the Federal Reserve.

UBS Group chief executive Sergio Ermotti said catching up with Wall Street giants in the US will take time, as the bank seeks to build its product offering in the world’s largest wealth market.

Institutional inflows into spot Bitcoin (BTC) ETFs could lead to a “sell-side liquidity crisis” by September, according to industry analyst Ki Young Ju, CEO of on-chain analytics platform CryptoQuant.