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ICRA has published a research note on the Indian apparel export industry. It expects its sample companies to report a mild 2-3% YoY increase in revenues to Rs. 27,255 crore for FY2024. Despite a tepid demand environment in H1 FY2024, ICRA expects the end demand to improve in H2 FY2024, boosting revenues. The retail apparel brands in the US and the EU, which together account for close to 55% of global apparel trade, are expected to liquidate the high inventory build-up of FY2023 and book their orders for the Spring/Summer 2024 season in H2 FY2024.

A.P. Moller-Maersk A/S is forming a new company that will produce green methanol in a bid to help cut emissions from the shipping industry, one of the world’s biggest polluters. The company, called C2X, will build and operate “large-scale” production facilities and expects an annual capacity of more than three million tons green methanol by 2030, according to a statement from family fund A.P.

₹135 to ₹142 per equity share of face value of ₹1 each. Yatra Online IPO raised ₹348 crore from anchor investors on Thursday, September 14. Yatra Online IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

rupee ended at 83.03 a dollar. The dollar jumped overnight after US retail sales increased 0.6% in August versus an estimated 0.2% rise. “USDINR is expected to rise towards the higher end of the consolidation range 82.80-83.20 amid firm dollar.

Indian troops are defending every inch of the border with China and not even a single inch of land has been taken over by the neighbouring country in recent years, Ladakh Lt Governor Brig (Retd) B D Mishra said on Thursday. He said infrastructure development is taking place at a rapid pace across Ladakh with roads, helipads, airfields, tunnels and bridges being built, and India will catch up with China in that regard within next four-five years. Brig Mishra (Retd) was in Jammu in connection with a three-day north-tech symposium which concluded at IIT Jammu on Wednesday. The event provided a platform for engagement between the academia and industry to devise unique solutions to meet the army's operational requirements in northern command, while promoting self-reliance in defence production and technology proliferation. «If there is any match to them (China) in Asia, it is India. China is a nefarious country.

Asian stocks rose strongly on Friday, extending a global equity rally, after better-than-expected Chinese economic data added to the good vibes from expectations that tightening campaigns by the world's biggest central banks were close to over. The dollar stuck close to a six-month peak from overnight against major peers, buoyed by robust U.S. economic data, while the euro sagged following the European Central Bank's signal that Thursday's rate hike was probably the last this cycle. Crude oil hit a fresh 10-month top. MSCI's broadest index of Asia-Pacific shares rallied 0.84%. Japan's Nikkei jumped 1.33% to a two-month high. Hong Kong's Hang Seng added 1.2%, and mainland Chinese blue chips rose 0.2%, flipping from early small losses. Australia's stock benchmark surged 1.75%. U.S.

“The IT and chemical sectors offer attractive risk-reward prospects. A healthy correction in manufacturing, industrial, and PSU stocks presents a solid long-term entry point. In the financial and consumption sectors, selective buying is advisable,” says Sunil Nyati, Managing Director of Swastika Investmart Ltd. In an interview with ETMarkets, Nyati said: “The broader market is demonstrating exceptional performance, primarily attributable to the optimistic outlook for the Indian economy and robust domestic liquidity” Edited excerpts:We saw a steady rise in markets last week with the Nifty50 climbing to 20,000 levels. Do you think the upcoming US Fed meet could play a spoilsport?The market is currently experiencing a robust bullish trend, with the upcoming Federal Open Market Committee (FOMC) meeting poised to be a pivotal global catalyst.

Kerala's Health Minister's office has confirmed yet another case of Nipah virus infection in Kozhikode. This revelation has intensified concerns about the ongoing Nipah virus outbreak in the state.

Bond Exchange (BBX), the securities solutions management unit of the global investment bank said on Friday. BBX, which was launched in 2020 to simplify bond investing, is the world's first fractional bond exchange. The deal will enable Citi's clients who meet a certain criteria, to become participants on the exchange and trade bonds, with the investment bank providing settlement and custodial services. «The proprietary digital custody technology is scalable and will allow us to provide settlement and custody services for clients investing in assets issued on permissioned blockchain networks and digital financial management information systems (FMIs),» said Nadine Teychenne, head of digital assets for Citi Securities Services. The recent partnership is an extension to Citi being initially chosen by BBX in 2021 to act as a custodian for the underlying bonds issued and traded on its exchange as fractionalized assets. «Digital Custody is the next big step in the transformation of the bond market, making bond markets, more transparent, electronic and accessible to all,» said Rahul Banerjee, CEO and co-founder of BondbloX.

A forthcoming ETF suite is aiming at the crossroads of two investing trends currently having their moments: single-stock products and covered-call strategies.

Chandrayaan-3's soft landing on the moon, ISRO's live stream of the event which took place on August 23rd has set a new record on YouTube, with over eight million concurrent viewers. This event marks the highest viewership in YouTube history. YouTube's Chief, Neal Mohan, congratulated ISRO on this remarkable feat.

dollar was on the front foot in Asia on Friday, retaining overnight gains against peers after strong U.S. economic data and an ECB rate hike, with traders' attention warily turning to a data deluge from China. U.S.

banking services at precisely the moment when extra funds are most needed for essential supplies such as medical supplies and food. Cryptocurrency transfers have become an increasingly popular way to provide financial assistance to disaster victims due to their speed, low costs, borderless nature, and transparent transactions.

Hollywood's writers strike are set to resume next week, studios said on Thursday. The Alliance of Motion Picture and Television Producers, which represents the industry's studios, streaming services and production companies in union negotiations, said in a statement that they had reached out to the Writers Guild of America on Wednesday and the two sides agreed to resume negotiations next week. Leaders are still working out the details, the statement said, and no further specifics were provided. «Every member company of the AMPTP is committed and eager to reach a fair deal, and to working together with the WGA to end the strike,» the statement said. There are no talks yet planned to settle the actors strike. Writers have been on strike for 4 1/2 months over issues including pay, job security and regulating the use of artificial intelligence. A previous attempt to restart talks fell flat.

Libya's coastal city of Derna has soared to 11,300 as search efforts continue following a massive flood fed by the breaching of two dams in heavy rains, the Libyan Red Crescent said Thursday. Marie el-Drese, the aid group's secretary-general, told The Associated Press by phone that a further 10,100 people are reported missing in the Mediterranean city. Health authorities previously put the death toll in Derna at 5,500.

Beijing is getting bullish about the cross-border use of the digital yuan – with Chinese experts now talking about BRI/“new Silk Road” CBDC integration.

Indian stock market is going to introduce Investor Risk Reduction Access (IRRA) platform for trading members. As per the SEBI circular, from 3rd October 2023, trading members will be given access to IRRA across exchanges. As per the circular available on NSE website, “It is hereby informed, that the Investor Risk Reduction Access (IRRA) will be accessible to Trading Members across Exchanges starting from October 3, 2023." IRRA platform will be available to the TMs supporting Internet Based Trading (IBT) and Security Trading through Wireless Technology (STWT) for their investors.

Libya flood updates: The Libyan Red Crescent said that the death toll in Libya's coastal city of Derna has soared to 11,300 as the search efforts continue. However, local officials suggested that the death toll could be much higher than announced, The Associated Press has reported. Daniel, an unusually strong Mediterranean storm, caused deadly flooding in communities across eastern Libya, the worst-hit was Derna.

NavIC, the minister of state for electronics and information technology Rajeev Chandrasekhar said on Thursday. The devices can either provide support for NavIC-powered chips or use NavIC chipsets, he added. While 5G phones will need to provide mandatory support for NavIC by January 1, 2025, all other phones operating in the L1 band that currently use the Global Positioning System (GPS) will need to provide mandatory NavIC support by December 2025, he said.

Renewables developer Edify Energy has been sounding investors for a 185-megawatt battery energy storage system in Victoria via ICA Partners, the same adviser that helped it sell NSW’s biggest battery last year.

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