International Financial News

inflation data is allowing the Federal Reserve to begin a «very reasonable» shift toward easing rates, but a still-strong U.S. labor market means that there's no rush to make decisions, International Monetary Fund chief economist Pierre-Olivier Gourinchas told Reuters. Gourinchas said in an interview accompanying the release of new IMF growth forecasts on Tuesday it is better for the Fed to wait a bit longer to ensure there are no further upside surprises on inflation like those in the first quarter that delayed expected rate cuts to later this year. «Given the good news on inflation, it's very natural that the Federal Reserve is now starting to look at what's happening in the labor market and wanting to make sure that they don't overdo it» with tight monetary policy, Gourinchas said.

Mt. Gox, the now-defunct crypto exchange that went bankrupt in 2014, has apparently transferred $2.7 billion in Bitcoin to an unknown wallet on Tuesday.

HDFC Defence Fund, the only active mutual fund focused on the defense sector, has doubled investors' money in just nine months, delivering a return of 102.26% during this period. The scheme yielded approximately a 38.87% return in the last three months and about 55.16% in the last six months. Over the past year, the scheme has delivered a return of 130.44%. If an investor had started a monthly SIP of Rs 10,000 since the inception of the fund, the investment would now be valued at Rs 2.28 lakh, achieving an XIRR (Extended Internal Rate of Return) of 147.90%. The total amount invested would have been Rs 1.30 lakh. (Source: ACE MF)

Russia’s new nuclear space weapon has spurred White House and congressional warnings about Moscow’s irresponsibility on the global stage. Russia’s move isn’t surprising, given its frustration over the war with Ukraine and its failure to contain or fracture the North Atlantic Treaty Organization. Yet this is another chapter in Moscow’s long decline in space leadership.

domestic passenger traffic in June at around 13.28 million, more than 6% from a year earlier, and nearly 10% above pre-covid levels; however, airline capacity deployment in June was up by just 7% on year and lower by 3% over May. Separately, one of the terminals of Delhi's international airport, the country’s largest and busiest, remains out of service.

Around three months after the president of its annuity business announced plans to retire at the end of the year, Nationwide has found a suitable successor to the role.

Adani Group expects its ports business to grow at a robust pace, with the Indian operations expected to double by volume in five years, said a senior company executive. Speaking to ET, Karan Adani, managing director of Adani Ports and SEZ (APSEZ) said the aim is to transform India's leading port operator into a global ports hub by boosting the share of international traffic. The ports business currently gets about 5% of its total volume from international operations, which it is aiming to double by 2030, said Adani. The ports business has been seeing exponential growth in the past few years, and Adani expects the trajectory to continue. «Currently, the split between our ports and logistics segment is 70:30, and we expect the same to continue because while our logistics segment is growing, so is our ports segment, and that too at a much faster pace,» he said. Revenue from the ports segment grew to Rs 20,972 crore in FY24, from Rs 17,304 crore in the previous year. On the other hand, revenue from the logistics segment grew to Rs 2,079 crore from Rs 1,744 crore in the same period.

Gareth Southgate continuing with the team is still persistent. England went down to Spain in a fierce contest in the Euro 2024 finals that has now begun to raise questions on Southgate's tactics not bringing the necessary result of bringing England a long-awaited trophy in the international circuit.

Tense deliberations over how and if to allow deep sea mining are unfolding in Jamaica as at least one company threatens to apply for permission before rules and regulations are in place

Euro Cup 2024 has seen some interesting rules set by UEFA before the start of the championship earlier. As a result, once the prestigious tournament ended, England's Harry Kane ended up sharing his Golden Boot trophy with five other players who were also the top goal scorers in the entire tournament. This was rather due to a bizarre rule set by UEFA that suggests the highest goal scorers across the tournament will receive the Golden Boot, and if there are more than one player in this list, they will be sharing this award.

Record immigration caused the population of England and Wales to rise by 610,000 to 60.9 million in mid-2023, the largest annual increase in 75 years, official data showed on Monday. What statisticians term 'natural' population growth — the difference between births and deaths — fell to just 400, the lowest since 1978, while net international migration rose to 622,000, up from 548,500 in the previous 12 months. A net 13,800 people also moved from England and Wales to Scotland or Northern Ireland.

Built With Science, in an article titled The Best Ab Workout For Six Pack Abson his website. Ethier starts his ab workout with a bottom-up movement—the reverse crunch. He then follows it up with high-to-low woodchoppers on the cable machine or bicycle crunches for obliques.

Russian Army continues its operation in Ukraine, the soldiers march on using 'Made in Bihar' boots manufactured in Hajipur. Bihar's Hajipur city, known for its agricultural production, is writing its own story by manufacturing safety shoes for the Russian army, which has an acclaimed international presence. Hajipur-based Competence Exports, a private limited company, makes safety shoes for companies based in Russia and designer shoes catering to European markets.

Congress MLA Roopakala Shashidhar was the first legislator to be recorded by the cameras on arrival at the Assembly for the monsoon session, which began today as the new system became operational. The first MLA to be captured exiting was Tiptur's Shadakshari of Congress. Speaker U T Khader noted that there is a practice of recognising MLAs who come early to the Assembly before the quorum bells are rung and their names are read out in appreciation by the Chair.

The Russian Ministry of Finance is considering allowing qualified investors to trade digital currencies on licensed exchanges, such as the Moscow Exchange and St. Petersburg Exchange.

water business AO Smith, for an enterprise value of Rs601 crore. Launched two decades ago, the water purification brand is part of HUL's home care business with revenues of Rs 293 crore during FY24. “This move is in line with our strategic intent to focus sharply on our core categories," said Rohit Jawa, CEO and Managing Director of HUL. The transaction is subject to customary closing conditions, and HUL will continue to manage the business until the completion of the transaction, which will take about three months. The proposed transaction is to be undertaken by way of a slump sale through a business transfer agreement, it said.

Sri Lanka will cut power prices by 22.5% from Tuesday, the utilities regulator said, as the Indian Ocean nation attempts to ease the cost of living for millions of people amid its worst financial crisis in decades. After the crisis shrank its economy 7.8% in 2022, Sri Lanka boosted power prices by 75% that September, and by another 66% the following February, to meet the terms of a $2.9-billion bailout from the International Monetary Fund (IMF). Industries would also see a cut of about 33% in power tariffs, the regulator added, with poorer users getting a reduction of about 2,000 rupees ($7) in their bills.

Paradeep Phosphates Ltd.(up 2.40%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.94%), Southern Petrochemicals Industries Corporation Ltd.(up 1.74%), National Fertilizers Ltd.(up 1.36%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.07%), Chambal Fertilisers & Chemicals Ltd.(up 0.55%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.20%) and Rama Phosphates Ltd.(up 0.10%) stood among the top gainers.

Speaking before the House Financial Services Committee last week (9 July) Yellen was asked about her biggest concerns around foreign institutions regarding the US, one of which was the «protection of the dollar». Fed postpones rate cut until 'greater confidence' in sustainable inflation levels She said: «We have very powerful sanctions that are that are available because of the important role of the dollar in international transactions, the ability to cut off foreign banks or other businesses or individuals from the ability to transact through the US Financial system and to participate...

Subject to regulatory approval, Gooden will also become co-portfolio manager of the Global Natural Resources fund alongside George Cheveley and Dawid Heyl, who have worked on the strategy since its 2008 inception. He is set to replace Tom Nelson, who is resigning from his portfolio management responsibilities to focus on his family business. However, he will remain at Ninety One in an advisory capacity. In his previous role at Fidelity, Gooden worked as an analyst and headed up the Global Energy and Global Clean Energy funds. Prior to that, he had a three-year stint at Citi, served as...