Usa Financial News

Gems and jewellery exports declined by 12.17 per cent to Rs 2,65,187.95 crore (USD 32,022.08 million) during 2023-24, compared to the previous financial year due to high interest rates in the US and slow recovery in China, Gem and Jewellery Export Promotion Council (GJEPC) data showed. Gems and jewellery exports in FY23 stood at Rs 3,01,925.97 crore (USD 37,646.17 million), according to GJEPC data. «The last financial year was very challenging for all product categories. This was mainly due to slowdown in the US, India's biggest export market in the segment, due to high interest rates. Also, slow recovery in China post Covid-19,» GJEPC chairman Vipul Shah told PTI. Meanwhile, the overall exports of Cut and Polished diamonds declined by 25.23 per cent during FY24 to Rs 1,32,128.29 crores (USD 15,966.47 million) compared to Rs 1,76,716.06 crores (USD 22,046.9 million) for the same period of previous year.

Pashupati Advani, Founder, Global Foray, says: “I have not liked IT generally because I think that the whole sector is in disarray because the business models are changing. AI is coming and the main profit is going to go to the big American companies rather than spread to the rest of the world. I am excited about infrastructure. So, look at the construction companies, all the cement, steel companies because roads are being built, buildings are getting finished and tunnels are being made.” The entire basket of broking, AMCs, financial market ancillaries, the exchanges, CDSL, etc, they all have been doing quite well and, of course, there is a fundamental tailwind to it. But the question becomes, when does it price it in? What do you see of the valuations there and what is the top recommendation from this pack? Pashupati Advani: The pack is doing well because as more and more people get involved in the markets and we are seeing that, there is obviously going to be returns to all the big players and certainly it is big players. The other thing is that there seems to be some consolidation in the space and some of the smaller players are closing shop and moving into the fold of the bigger players which is also helping the earnings.

Top news of April 20: Elon Musk's planned visit to India and the intense politics around it amid Lok Sabha elections 2024, the optimistic quarterly results for HDFC Bank and US sanctions on Pakistan's missile program were some of the top news that grabbed headlines on Saturday. At a time when India is in the midst of Lok Sabha election and extreme tensions are going on in one part of the world, no one can afford to miss the the major headlines of the day. 1.

Ukraine, Israel and Taiwan, over bitter objections from Republican hardliners. The legislation now proceeds to the Democratic-majority Senate, which passed a similar measure more than two months ago. U.S. leaders from Democratic President Joe Biden to top Senate Republican Mitch McConnell had been urging embattled Republican House Speaker Mike Johnson to bring it up for a vote.

The worst week for big technology stocks since the COVID crash in 2020 dragged Wall Street across the finish line of another losing week

Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict. As of 10:36 am IST, Bitcoin was trading 0.9% higher at $62,200. Meanwhile, Solana (3.8%), Toncoin (13%), Chainlink (1%), and Internet Computer (4.3%) were also trading higher.

Xi Jinping has ordered what amounts to the biggest reorganisation of the nation's military since 2015 in a move that affects the force in charge of capabilities including cyber warfare. China will terminate the Strategic Support Force, which was created more than eight years ago to enhance capabilities in space, cyber, political and electronic warfare, the official Xinhua News Agency reported on Friday. Xi is in turn creating a new branch called the Information Support Force. The aerospace and cyber units previously under the Strategic Support Force will now be organisationally parallel to the newly created Information Support Force, the defence ministry said in a statement. The aerospace unit will improve China's capability to use space and step up the management of space crises, the ministry said.

The Biden administration is imposing sanctions on two entities accused of fundraising for extremist Israeli-occupied West Bank settlers who have harassed and attacked Palestinians

Full moon in the month of April is commonly known as «pink moon». However, the April moon won't be looking like a pink one. The name 'pink' moon comes from a herb moss creeping phlox. Want a Loan? Get cash agai

edged lower amid excessive volatility and lost over one and a half per cent, tracking feeble global cues. The tone was negative from the beginning, which further deteriorated with a decline in world indices however rebound on Friday trimmed some losses. Benchmark indices Nifty 50 and Sensex, settled at 22,147 and 73,088.33 levels respectively.

Israel ended with relief Friday after Tehran declared it had defeated what it said was a small attack on its territory by Israeli drones. But while the strike, which Israel didn’t officially claim, avoided touching off fresh escalation for now, there was no escaping that the tit-for-tat exchange ushered in a new era where the two adversaries look more willing to fight each other directly rather than through proxies. And that, government officials and experts fear, could lead to open war.

Tesla knocked USD 2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. The company cut the prices of the Model Y, a small SUV which is Tesla's most popular model and the top-selling electric vehicle in the US, and also of the Models X and S, its older and more expensive models. Prices for the Model 3 sedan and the Cybertruck stayed the same. The cuts reduced the starting price for a Model Y to USD 42,990 and to USD 72,990 for a Model S and USD 77,990 for a Model X.

Record Store Day celebrates independent retail music sellers who have endured long after megastores like Tower Records closed

helicopters crashed overnight at sea, officials said on April 21. A spokesperson for Japan's Self-Defense Force (SDF) confirmed the incident to AFP, adding that one person has been rescued. Giving details, Japan's Defence Minister Minoru Kihara told reporters that rescuers located what they believe to be parts of the aircraft in the sea.

The Environmental Protection Agency is allowing the sale of gasoline containing a higher blend of ethanol for the third summer in a row

Pregnant workers have the right to a wide range of accommodations under new federal regulations for enforcing the Pregnant Workers Fairness Act

PTI, Singh was arrested in London in April 2019 at the request of the US. He was later extradited to the US in March 2023.

According to the data with the depositories, Foreign Portfolio Investors (FPIs) made a net outflow of Rs 5,254 crore in Indian equities this month (till April 19).

Federal Reserve Chair Jerome Powell signaled US central bankers will wait longer to cut borrowing costs following a series of surprisingly high inflation readings, which reduces room for easier policy around the world. Global finance chiefs convening in Washington for the International Monetary Fund-World Bank spring meetings are sweating the strength of the US economy, as elevated interest rates and a strong dollar force other currencies lower and complicate plans to bring down borrowing costs. Meanwhile, an escalation of the conflict in the Middle East is raising concerns of a wider regional war that could send oil prices over $100 a barrel.

Grand Slam winner Garbine Muguruza announced her retirement from tennis on Saturday after more than a year without playing. «The time has come to say goodbye, it has been a long and beautiful career, but I feel the time has come to retire,» Muguruza, 30, told a press conference at the Laureus Awards. «It's a decision that I've been taking little by little.»

Saudi Arabia. In Arabic, AlUla means “glory,” and the kingdom ­envisions a lot for this historical region, which is the size of New Jersey. It will become one of the world’s great tourist attractions—in the words of Melanie de Souza, AlUla’s top marketing official, a destination for “luxe seekers, wanderlust nomads, intrepid voyagers and silver foxes.” Along with developing resorts, shops, restaurants and a contemporary art museum with Paris’ Centre Pompidou, the Royal Commission for AlUla is overseeing tourist-friendly archaeological excavations of colossal tombs that date to the first century B.C.