Economy Financial News

Global venture capital funding declined 30% in the first quarter, continuing its slump as investors remain cautious amid sputtering economies and a sluggish market for stock-market debuts.

Infrastructure Fund (NIIF) on Wednesday announced a $200 million (about Rs 1,660 crore) investment in digital infrastructure player Ibus Network and Infrastructure. Ibus will be deploying the funds to scale operations in an organic way by expanding its capacities and for inorganic growth, according to a statement. The company aims to strengthen its position as a leader in in-building solutions, outdoor small cells and managed WiFi services and expand its presence in new emerging sectors like Internet of Things (IoT) solutions, it added.

Chirag Negandhi, MD of JM Financial Limited. In an interview with Shilpy Sinha, he said that the market trajectory will increasingly hinge on the election manifestos, which will outline the broad policy direction for the upcoming term. On recent RBI action, the group is committed to regulatory compliance and is cooperating with the regulations, Negandhi said. Excerpts: Recently RBI has barred JM Financial from doing any financing against shares and debentures. How do you respond? I would like to reiterate that as a group we take all regulatory matters with utmost importance and are committed to cooperating with the regulators.

DMK in Tamil Nadu, on Katchatheevu and 'Shakti' remarks, accusing them of keeping the «country in the dark» over the island issue and charged them with ill-treatment of women. He especially singled out the DMK over alleged corruption, saying the Dravidian party had the «first copyright» on the issue and added the «family» was intent on looting the state, in an apparent reference to the party's first family, headed by its president and Chief Minister M K Stalin. «The DMK has the first copyright on corruption, the entire family is looting Tamil Nadu,» he said at an election rally here, while canvassing votes for NDA candidates, including BJP nominees for the April 19 Lok Sabha elections in the state. He further charged the DMK with being «a family company,» that was impeding the progress of the state's youth with its «old mindset.»

China's Finance Ministry has denounced a report by Fitch Ratings that kept its sovereign debt rated at A+ but downgraded its outlook to negative

Treasury Secretary Janet Yellen and her team are returning to Washington after a visit to China where they tried to tackle the biggest economic issues between the countries

Thailand’s Prime Minister Srettha Thavisin has revealed details of his government’s plan to stimulate the economy by giving digital cash handouts of 10,000 baht ($275) to an estimated qualifying 50 million Thais for spending at their local businesses

James Randolph is a pretty chill flier. Unless you ask him to switch seats. “99% of the time I’m going to say no,’’ the 35-year-old digital marketing director from Florida says.

How a domestic rating agency wants to take on the big guns China's finance ministry called the Fitch rating "regrettable". "From the results, it can be seen that the indicator system of Fitch's sovereign credit rating methodology has failed to effectively and proactively reflect" Beijing's efforts to promote economic growth, it said.

Sherman, considered to be one of the best friends of India in the US Congress, said that India and the US have seen a strengthening of the bilateral relationship during the tenure of Prime Minister Modi. However, he said that India's defence relationship with Russia is a challenge in the Indo-US relationship «He (Modi) has become the face of India, and we've seen very significant economic progress. Of course, every country has its challenges, every leader has its challenges. I don't ascribe the success of a country just to one leader. I mean, you've got 1.3 (sic) plus billion people and they're all working together to try to make India a more successful country,» Sherman told PTI in an interview on Tuesday.

Jefferies has reiterated its buy stance on state-run Coal India (CIL) and two private sector players viz. Tata Steel and Hindalco Industries amid signs of optimism in the metal space. Meanwhile, the US brokerage has maintained a 'hold' view on JSW Steel. In Jefferies' view, the global recovery in manufacturing including one in China is driving the sector and there are now signs of a rising trade.

The main market focus on Wednesday is U.S. consumer price inflation for March, which traders have been eagerly awaiting for hints on the Fed's policy outlook.

Last week, Prime Minister Narendra Modi asked the Reserve Bank of India (RBI) to prepare a 10-year strategy to make the Indian rupee a globally “accessible and acceptable" currency. Since the Indian economy is expected to be among the world’s three biggest national economies in less than a decade, with only China’s and America’s larger than ours, it is easy to grasp why such an aim might beckon. It’s more than a matter of prestige.

Buy or sell stocks for today: The 30-share BSE Sensex breached the historic 75,000-mark for the first time in the previous session, while the NSE Nifty 50 also hit its fresh lifetime high of 22,768.40, before both domestic equity benchmarks settled in the red dragged by profit-booking and weak global cues. Investors await the US inflation data, which due later in the evening today, while expectations of Fed rate cuts have been easing over strong macro data and sticky inflation in the world's largest economy.

The idea was simple: To meet progressively higher carbon emission-reduction targets in line with its climate-action commitments under the Paris Agreement and the UN Framework Convention on Climate Change (UNFCCC), the EU needed to impose higher obligations on its own industrial activities in carbon-intensive sectors. As a result, it had to tackle two challenges.

Federal Reserve's policy meeting and crucial inflation data for cues on the timing and extent of interest rate cuts. FUNDAMENTALS

(This story originally appeared in on Apr 10, 2024)

equity investment was in 1979, the same year that the BSE Sensex was constituted with a starting value of 100. Over the next 45 years, that 100 has ballooned to 75,000 today, compounding at a handsome rate of 15.85% to be precise. Looking back, the story of the Sensex is the story of India in a sense. In 1979, India was virtually a basket case in the global scheme of things, with a GDP of barely $130 billion. In fact, in 1990, the country went nearly bankrupt with forex reserves dwindling to a few months of our imports. Then came the IMF bailout package, and India has not looked back since.

BEIJING — China needs to convince people that home prices are on their way up in order for economic activity to pick up, Richard Koo, chief economist at Nomura Research Institute, told CNBC's Steve Sedgwick last week.

Arshdeep Singh took 4 wickets and was the standout bowler for the team. The 25-year old left-arm seamer took the wickets in an impressive spell giving away 29 runs in four overs, with an economy of 7.25. Other PBKS bowlers who took wickets were Harshal Patel (2), Sum Curran (2), and Kagiso Rabada (1).

₹24.5 crore, the highest paid for any cricketer. Was this shocking? Yes. Was there something amiss? No.