International Financial News

American economy really is exceptional. It is richer, more innovative, and continues to expand at a high rate compared to most of the developed world. It has been extra special the last 15 years, with its equity market outperforming any other country as growth prospects for China and Europe dimmed. But it seems exceptionalism might be ephemeral. Uncertainty around trade and the future strength of the dollar has led some big European investors to retreat from American stocks. And the problem may go deeper. Less than 100 days into a second Trump administration, commentators are already discussing the coming end of American exceptionalism. Many things make the American economy exceptional. For one, it houses the deepest and most liquid capital markets, which help channel money to its more productive uses. But what makes it truly extraordinary is its dynamism, which underpins innovation and productivity, attracting talent from around the world. To figure out if our best days are behind us, it is necessary to separate short-term exceptionalism based on current financial conditions and longer-term structural exceptionalism that has been a feature of the American economy for the last century. The short-term boom may indeed be fading, but exceptionalism should endure over the longer term because it is more durable than whatever damage any one president can do in a few months.

international board schools for their children, with the nation hosting the second-largest number of international schools worldwide — not just in name with a tag, but in affiliation with global education boards, reported ToI. Apart from being in India's richer cities like Mumbai, Bengaluru, the schools are now reaching places like Hatkanagale in Sangli, Tholahunse in Davangere, and Sonaghati in Betul. «Every year, Cambridge is adding 100 schools, and 30 to 40 new schools of IB are coming up each year. The aspiration of the middle class is at an all-time high. The phenomenon is not limited to metro cities but tier 2 and 3 cities, where the major growth now is coming from,» Mahesh Srivastava, former regional director (South Asia), Cambridge Assessment International Education told ToI.

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Russia and the United States have started talks on joint rare earth metals and other projects in Russia, and some companies have already expressed an interest in them, President Vladimir Putin's investment envoy said in remarks published on Monday. Amid efforts by U.S. President Donald Trump to end the war in Ukraine, minerals cooperation has been floated by both Kyiv and Moscow, though Trump said on Sunday that Ukrainian President Volodymyr Zelenskiy wants to back out of a proposed deal. Putin in February suggested that the United States might be interested in exploring joint exploration for rare earth metals deposits in Russia, which has the world's fifth-largest reserves of the metals used in lasers and military equipment. Kirill Dmitriev, Kremlin special envoy on international economic and investment cooperation, told the Izvestia newspaper in remarks published on Monday that talks had already begun. «Rare earth metals are an important area for cooperation, and, of course, we have begun discussions on various rare earth metals and (other) projects in Russia,» said Kirill Dmitriev, who is also the CEO of the Russian Direct Investment Fund.

foreign investment, the recent launch of the Investment Friendliness Index in the Union Budget 2025 marks a pivotal shift in the country’s economic framework. This initiative aims to enhance both competitive and cooperative federalism, making states more attractive to domestic and international investors. The Investment Friendliness Index is more than just a ratings system—it evaluates and ranks Indian states based on their investment potential. By fostering healthy competition, it encourages states to reassess and refine their regulatory frameworks, spurring an influx of private investment. For financial institutions like HDFC Securities, the index serves as a valuable guide for navigating the investment landscape and identifying promising regions.

F-35, a fifth-generation fighter, was developed in partnership with eight countries, making it a model of international cooperation. When President Donald Trump introduced its successor, the F-47, he praised its strengths — and said the version sold to allies would be deliberately downgraded. That made sense, Trump said last week, «because someday, maybe they're not our allies.» For many countries wedded to the United States, his remark confirmed a related conclusion: that America can no longer be trusted. Even nations not yet directly affected can see where things are heading, as Trump threatens allies' economies, their defense partnerships and even their sovereignty. For now, they are negotiating to minimize the pain from blow after blow, including a broad round of tariffs expected in April. But at the same time, they are pulling back. Preparing for intimidation to be a lasting feature of U.S. relations, they are trying to go their own way. A few examples:

Subscribe to enjoy similar stories. The word “work" has become loaded with meanings, is weighed down by multiple connotations and teems with social divisions. But what is work? Some view it as a four-letter word signifying a quotidian preoccupation, the root of a humdrum existence but an unavoidable necessity.

Subscribe to enjoy similar stories. New Delhi: The government is preparing to decriminalize more than 100 offences under various laws by the end of this year to improve investor confidence and unlock potential for faster economic growth, three persons familiar with the development said.

The resources conglomerate has also used funds it raised through a qualified institutional placement to repay loans, sources aware of the development said. The promoter holding company, London-based Vedanta Resources, also managed to save $185 million in interest costs in the same time period.

GMR Airports has said that regulator AERA has accepted various principles of variable tariff plan for the Delhi airport and that the existing aeronautical tariff has been increased around 148 per cent for the fourth control period ending March 31, 2029. The Airports Economic Regulatory Authority (AERA) has approved higher and variable user development fees for economy and business class travellers while the User Development Fee (UDF) has been left unchanged for domestic passengers. The UDF for international passengers has been hiked. The revised tariffs for the fourth control period — April 1, 2024 to March 31, 2029 — will be applicable from April 16, 2025. GMR Airports has said AERA has accepted various principles of variable tariff plan as proposed by the Delhi airport and accordingly, UDF has been split across both embarking and disembarking passengers.

Debadatta Chand had the proverbial baptism by fire as CEO at India’s second largest public sector lender, Bank of Baroda (BoB), hit by the controversy over the financier’s attachment notice on actor and MP Sunny Deol just a couple of months into the top job. Then came the Reserve Bank of India (RBI) curbs on its digital banking application, restrictions that took nearly seven months to be lifted. But after a trying first year, Chand has eased into the corner-room job, seeking consistency in the bank's business matrix and reducing the lender's dependency on costlier wholesale deposits. In a detailed interview with ET, Chand spoke about BoB’s current positioning and shared his outlook for what's traditionally known as a corporate-focused lender. Edited excerpts: You will complete two years at the helm in June. How has BoB shaped up in this time? The bank is doing extremely well. Fundamentally, it is a strong bank. For the past two years, the performance has been consistent, and the outlook is stable. Earlier we (had) talked about how to double the business in 5-6 years and how to maintain margin in a dynamic market scenario. The performance has been very satisfying. The balance sheet strategy is to not to be heavily dependent on the bulk deposit. Our RAM (retail, agriculture MSME) is going very strong. We decided to go slow on fine priced corporate loans. We are capturing market share in retail loans and deposits.

Myntra is set to take a different route to entry-level hiring from this year, switching from on-campus final placements to internship. The fashion e-tailer is looking to hire more than 100 employees every year through this route, said its chief human resources officer Govindraj MK. «The internship programme will now be a primary pathway for hiring into first-level roles,» he told ET in an interview. For lateral roles, the company is mostly looking at in-house talent. «Whenever there's a vacancy, we prioritise internal talent mobility, grooming employees for higher roles through career development and learning programmes,» said Govindraj. This year Myntra has launched a four-to-six-month internship programme across tech, fashion-technology, business and finance. The first batch started in January 2025 and already, the company has engaged more than 10 interns, he said. «In all, we are looking at hiring about 150-170 interns throughout the year, and this will be our primary talent pipeline for full-time hiring,» said Govindraj. Students need to go through a screening process, including an entrance test and interviews, before being selected as interns. «This period (four to six months) is mutually beneficial; it allows students to assess whether our culture aligns with their career goals while we evaluate their potential for a full-time role,» he said.

National Financial Reporting Authority (NFRA) has flagged certain lapses in the audit quality of three audit firms. The observations have been made in NFRA's three separate inspection reports of SRBC & Co LLP, Deloitte Haskins & Sells LLP and Walker Chandiok & Co LLP. In its report on SRBC & Co LLP, the regulator conducted audit quality inspections in 2024 and the scope included focus on three audit areas — Internal financial control over financial reporting on revenue, related party transactions and impairment of non-financial assets. SRBC & Co LLP is member of two networks — Ernst & Young Global network and SR Batliboi & Affiliates.

Justice PS Narasimha on Sunday said that in international jurisprudence, India was the first country to shift from an anthropocentric approach to an eco-centric one. An anthropocentric approach is based on the belief that human beings are the most important entity on earth, and other beings and things are valued primarily for their utility to humans. The eco-centric approach, however, prioritises the well-being of the entire ecosystem and its components, viewing nature as valuable for its own sake, not just for human use. The Supreme Court judge was speaking at the valedictory session of the two-day National Conference on Environment-2025 organised by the National Green Tribunal (NGT) at Vigyan Bhawan. Vice-President Jagdeep Dhankhar was the chief guest at the event. Highlighting the importance of such conferences, Justice Narasimha said they brought together a large number of stakeholders who found a common vision to restore the environment.

International Day of Yoga and said the day had taken «the shape of a grand festival». The United Nations proclaimed June 21 as the International Day of Yoga with an aim to raise awareness worldwide of the many benefits of practising yoga. It was first celebrated in 2015. Sharing India's vision for a healthier world population in his monthly «Mann ki Baat» radio broadcast, Modi said, «The theme of yoga day, 2025, has been kept as 'Yoga for One Earth, One Health'. That is, we wish to make the whole world healthy through yoga.» The prime minister noted that, alongside fitness, keeping a count was also becoming a habit, citing examples of people keeping tabs on the number of steps taken, calories consumed and burnt in a day. «Amid all these counts, another countdown is about to begin. The countdown to the International Day of Yoga. Now, less than 100 days are left for yoga day. If you have not yet included yoga in your life, do it now. It is not too late yet,» he said. Noting the first International Day of Yoga was celebrated 10 years ago, Modi said, «Now this day has taken the shape of a grand festival of yoga. This is such a priceless gift from India to humanity, which is going to be very useful for future generations.»

«We are negotiating under fire… We can see cracks beginning to appear» in what the group demanded in its negotiations, Netanyahu told a cabinet meeting. Netanyahu's remarks came as mediators — Egypt, Qatar, and the United States — continued efforts to broker a ceasefire and secure the release of Israeli hostages still held in Gaza. A senior Hamas official stated on Saturday that the group had approved a new ceasefire proposal put forward by mediators and urged Israel to support it. Netanyahu's office confirmed receipt of the proposal and said Israel had submitted a counterproposal.

Subscribe to enjoy similar stories. Against the odds, the Russian economy has weathered the war. The next economic storm on the horizon: peace.

international students in the US have received emails from the US State Department instructing them to self-deport due to alleged involvement in campus activism. Immigration attorneys confirmed to TOI's Lubna Kably that some Indian students are also among those affected, with actions as minor as sharing a social media post leading to visa revocations. This crackdown follows a directive from Secretary of State Marco Rubio, which mandates social media reviews of both current international students and new applicants for student visas. Those found in violation face visa cancellations, making them ineligible to study in the US. Axios previously reported that this effort, powered by artificial intelligence, has resulted in the revocation of over 300 student visas. Affected students have been informed that their Student and Exchange Visitor Information System (SEVIS) records have been terminated, leaving them no grace period to stay in the country. The email states, «On behalf of the US Department of State, the Bureau of Consular Affairs Visa Office hereby informs you that additional information became available after your visa was issued. As a result, your F-1 visa with expiration date XXXXX was revoked in accordance with Section 221(i) of the US Immigration and Nationality Act, as amended.»

The initial 7.7-magnitude quake struck near the central Myanmar city of Mandalay early Friday afternoon, followed minutes later by a 6.7-magnitude aftershock. The tremors collapsed buildings, downed bridges and buckled roads, with mass destruction seen in the city of more than 1.7 million people. As dawn broke Sunday, tea shop owner Win Lwin picked his way through the remains of a collapsed restaurant on a main road in his neighbourhood, tossing bricks aside one by one. «About seven people died here» when the quake struck Friday, he told AFP. «I'm looking for more bodies but I know there cannot be any survivors.

U.S. citizens and lawfully permanent residents usually retain the privilege of re-entering the country, as long as they possess the valid documentation. A valid U.S. passport is required for all international traveling U.S. citizens. Western Hemisphere Travel Initiative-approved identification, in the form of an enhanced driver's license or Global Entry card, can also be utilized for entry by land or sea. For permanent residents, a current Green Card is required. At arrival, CBP officers check documents and determine if the traveler qualifies for entry. Foreign nationals and visa holders are required to abide by visa terms and Electronic System for Travel Authorization (ESTA) approvals, as applicable.