Usa Financial News

India reiterated its stance on the Dalai Lama's position, emphasising his «revered» status and the respect accorded to him by the Indian people. «I would like to reiterate India's position on His Holiness Dalai Lama. He is a revered religious leader and is deeply respected by the people of India. His Holiness is accorded due courtesies and freedom to conduct his religious and spiritual activities,» stated Randhir Jaiswal, spokesperson for the Ministry of External Affairs (MEA). Jaiswal's comments came, during a weekly briefing, in response to queries regarding India's stance on the succession of the Dalai Lama, highlighting the spiritual leader's significant role in India's cultural fabric.

Kremlin on Friday criticised the US decision to ban Moscow's cybersecurity firm Kaspersky over security concerns as creating "unfair competition" from American companies. The comments came a day after Washington banned the firm, saying it presented a "national security risk."

Pine Labs Pvt, an Asian digital payments provider backed by Peak XV Partners and Mastercard Inc., is considering raising about $1 billion in an initial public offering in India, people familiar with the matter said, amid increasing investor appetite in the nation’s stock market. The company may seek a valuation of more than $6 billion in an IPO, the people said, asking not to be identified because the matter is private. Pine Labs may issue both new and secondary shares, they said. It could also opt to do a pre-IPO fundraising round ahead of any listing, two of the people said.

cybersecurity firm Kaspersky denied Friday that it is a security threat after the U.S. Commerce Department banned the use of its software in the United States. The Moscow-based company — whose CEO Eugene Kaspersky is Russian — said in a statement that the Commerce Department's decision would not affect its ability to sell and promote its cyber security products and training in the U.S.

forex reserves contracted by $2.92 billion to $652.9 billion as of June 14, data shared by the Reserve Bank of India showed on Friday. Previously, forex reserves surged by $24.3 billion to a record high of $655.8 billion, for the week ended on June 7. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) decreased by $2.1 billion to $574.2 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

«As you mentioned, valuations, the market has certainly got more expensive and the usual story certainly when overseas investors look at India and some of them compare it to the likes of China and are hoping of a broader recovery in China, you have seen a little bit of profit, yes, a little bit of switching, but not much,» says Jonathan Schiessl, Westminster Asset Management. It has been fairly volatile from that crash that we saw on June 4th, the rally that we have seen post that. What is your own estimate with respect to where the Indian market is headed because a lot of people believe that valuations are sticky, the fundamentals and the positives are baked in, but some of the stock prices continue to surprise? Jonathan Schiessl: Yes, I would agree. I think we have had a pretty impressive recovery as you mentioned from that crash just a short few days ago. The market has pushed up a lot higher and it is interesting to note the more growth orientated markets globally have really pushed up, clearly in the US for example Nasdaq, but certainly in the emerging market space India does stand out as very strong recent gains.

Salvadoran officials refused to connect the jet bridge to allow the roughly 300 passengers, all Indian nationals, to disembark, according to three former crew members on the flight who spoke to Reuters on condition of anonymity. Several passengers told the cabin crew they planned to travel onward to Mexico and cross the border there illegally into the U.S., one crew member said. Others said they were going on vacation to the Mexican border city of Tijuana, another crew member said.

Coinbase is spending $2m on ads aimed at Latino voters and consumers, part of the crypto industry’s effort to get supportive politicians in power.

A United States federal court judge has given the green light to a civil securities lawsuit against Ripple Labs, denying the company’s bid for summary judgment.

Bitcoin spot exchange-traded funds (ETFs) in the US saw a total net outflow of nearly $140 million as of June 20, according to data.

The Supreme Court has upheld a tax on foreign income over a challenge backed by business and anti-regulatory interests

BNB, XRP, Toncoin, Avalanche, and Chainlink recorded gains, trading up to 2% higher. Conversely, Solana, Dogecoin, Cardano, Shiba Inu, and Uniswap saw losses, trading down by up to 2%. However, the global cryptocurrency market cap surged marginally by 0.3% to around $2.39 trillion in the last 24 hours.

Bitcoin was trading 1.3% lower at $64,592 as of 11:56 a.m. IST, while Ethereum was below the $3,550 level.

LISBON—The Americans are here, and this sun-bleached coastal city is booming. At bars, hotels and restaurants that line winding cobblestone streets, business is so good that Mayor Carlos Moedas recently slashed local income tax for residents. With economic growth of 8.2% last year and a 20% rise in tax revenue from prepandemic times, he’s also made public transportation free for young people and the elderly.

NMDC, the country's largest iron ore producer, with a one-year target price of ₹319 apiece, as the brokerage believes that the company is in the sweet spot amid rising pellet export demand coming from China. The company's shares have been on a roll over the last 12 months, climbing from ₹104 apiece to the current level of ₹273, resulting in a multibagger gain of 162%. Also Read: Gold climbs 1% to two-week high on increased Fed rate cut expectationsThe brokerage highlighted several key factors impacting the steel and pellet markets.

Great Hill Capital Chairman and managing member Thomas Hayes on American Airlines' market performance and companies cutting prices to respond to inflation.

Bitcoin, the world’s leading cryptocurrency, struggled to maintain its recent mild upward trend, peaking at $66,180 but turning bearish around $64,700 and dropping to an intraday low of $64,300.

The billionaire Winklevoss twins, founders of the crypto firm Gemini, announced on Thursday that they had each contributed $1m in Bitcoin to support presidential candidate Donald Trump.

Instagram’s 2010 launch flooded the zone with a whole genre of #travel photos. You know the look: oversaturated images with crowds cropped out that have made places from Patagonia to Iceland yawn-inducingly familiar. And with 39% of us now using social media for trip inspiration, according to the 2024 American Express Global Travel Trends Report, our feeds have become vacation-themed echo chambers.

Mint had reported that the grocery delivery company is looking to set up larger dark stores to stock a larger assortment of grocery and e-commerce products like cosmetics and gifting items.“If we are able to achieve this while continuing to delight customers, I believe we will be ready to go public relatively soon," he added.Founded by Aadit Palicha and Kaivalya Vohra in 2021, Zepto shot to fame after it secured upwards of $150 million in funding from marquee investors such as Y Combinator and Nexus Venture Partners within months of inception. It attained unicorn status last year after bagging $200 million in Series E funding led by US private equity firm StepStone Group, along with Goodwater Capital, Nexus Venture Partners and Glade Brook Capital.The startup is now planning an initial public offering sometime next year, aiming for a multi-billion dollar listing on the back of a healthy balance sheet, Palicha said.Over the last few months, Zepto has introduced several new initiatives to diversify its revenue streams and improve its margins.For instance, Zepto Pass, its loyalty programme with monthly prices starting at ₹19, saw more than a million customers sign up to it within a week of launch in February, according to the company.