Trade Financial News

Arslan Butt is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. He brings a broad range of skills to help beginners evaluate financial...

Kuwait City: External Affairs Minister S Jaishankar Sunday met Kuwait's top leadership and discussed ways to take the bilateral ties to a higher level and also exchanged views on the geopolitical developments in the region. Jaishankar, who arrived here on Sunday on a day-long visit, called on Crown Prince Sheikh Sabah Al-Khaled Al-Sabah and sought his insights on taking the bilateral ties to a higher level. «Honoured to call on His Highness Sheikh Sabah Al-Khaled Al-Sabah Al-Hamad Al-Mubarak Al-Sabah, the Crown Prince of the State of Kuwait. Conveyed the greetings of the President and Prime Minister,» Jaishankar said in a post on X. "India and Kuwait share centuries-old bonds of goodwill and friendship. Our contemporary partnership is expanding steadily. Thank him for his guidance and insights on taking our ties to a higher level," he added.

Confederation of All India Traders (CAIT) on Sunday anticipated a festive trade of over Rs 12,000 crore across the country during the Rakhi festival. The trade body said that the markets are witnessing a massive rush for Rakhi shopping, and people are very enthusiastic about the festival. It urged customers to celebrate the festival with Indian goods. Observing the demands for indigenous Rakhis, the trade body stated that customers prefer indigenous Rakhis over Chinese Rakhis during this year's festive season.

district court in Pune has dismissed an application filed by the US fast-food major Burger King Corporation (BKC) to restrain its local namesake from using the trademark ‘Burger King’ In an over 13-year-old case, district Judge Sunil G. Vedpathak, while dismissing the US fast-food major’s petition also dismissed the counterclaim filed by the Pune-based firm. “Admittedly plaintiff (BKC) has registered its trade mark Burger King under class 42 pertaining to restaurant services as of October 6, 2006. So, considering the fact that defendants are prior users of the trademark in question, I am of the opinion that the plaintiff has no cause of action to seek relief of perpetual injunction,” said the court in his 57-page order. “Thus, in the absence of cogent evidence, I find that the plaintiff is not entitled to damages, rendition of accounts and the relief of perpetual injunction,” it further added.

Burger King Corporation has lost a 13-year-old legal battle against its namesake eatery in Maharashtra's Pune after a district court dismissed a suit filed by the company alleging trademark infringement. Pune district judge Sunil Vedpathak, in the order on August 16, said the city-based eatery 'Burger King' was operating even before the US burger joint opened shop in India and that the latter failed to prove the local food outlet had infringed its trademark. The court dismissed the 2011 suit filed by the Burger King Corporation, seeking a permanent injunction restraining infringement of trademark, passing off (the trademark as theirs), as well as monetary damages. The suit, filed against Anahita Irani and Shapoor Irani, owners of the Pune-based Burger King food joint, also sought Rs 20 lakh as damages.

Foreign investors continued their relentless selling in the Indian equity markets in August, offloading shares worth Rs 21,201 crore due to the unwinding of the yen carry trade, recession fears in the US and ongoing geopolitical conflicts. This came after an inflow of Rs 32,365 crore in July and Rs 26,565 crore in June, data with the depositories showed. Foreign portfolio investors (FPIs) infused funds in these two months on the expectation of sustained economic growth, continued reform measures, better-than-expected earnings season and political stability.

equity indices closed over 1.5% higher on Friday, as strong U.S. economic data eased recession fears in the world's largest economy. The NSE Nifty 50 index ended 1.65% higher at 24,541.15 and posted 0.7% weekly gain, while the S&P BSE Sensex added 1.68% to 80,436.84 and was 0.9% higher for the week.

Global Compounders fund has outperformed the S&P 500 by a wide margin by keeping limited exposure to megacaps. «This positioning has insulated us from the recent drawdown and volatility. The megacaps, including not only the big tech names but also companies like Eli Lilly and Costco, have been bid up to extremely high valuations due to their certainty around growth and earnings delivery in near term,» says Arindam Mandal, Portfolio Manager at Marcellus Investment Managers.

Balrampur Chini, Tata Motors and ICICI Lombard are top 3 stock ideas of the week from Rupak De, Senior Technical Analyst, LKP Securities. “Balrampur Chini has given a swing high breakout on the weekly chart, suggesting a rise in optimism. The weekly RSI is in bullish crossover with an indication of strong price momentum. Over the short term, the trend might take the stock towards Rs 570. Support on the lower end, is placed at Rs 500,” De says.

Nifty managed to end with 1% gains in the holiday-shortened week, led by IT and consumer durables. When markets resume trading on Monday, a host of important domestic and global events lined-up during the holiday-truncated week are likely to impact them. On Friday, Nifty ended with an uptick of 400 points or 1.7% at 24,541.

“Defence and railway stocks which are largely in the public sector had become very overvalued and a lot of the future execution was already factored in. So, they were due for a correction. We have seen very good results coming through and there is a growth on the top line and bottom line. But the valuations have gone into multi-year, this kind of growth continuing. So, it was quite viable that we would see some amount of consolidation, a breather for a few months and then the next leg up starts as the execution comes in,” says Ajay Bagga, Chairman, Elyments Platforms. ET Now: Because the damage was coming from the macro front, tell us that since the US recession worries cools off, US seems to be on a disinflationary path, the kind of economic data coming in, talks are about Fed taking a rate cut in September and so are the expectations building up for other central banks only. But in such a scenario, what could be the possible and, of course, this is a good news for the markets, but then I wanted to understand how would FIIs approach the emerging markets in such a scenario when rate cuts are going to take place?

Nifty is showing possibilities of a rebound from current levels, said Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research, SBI Securities. «The zone of 50,800-50,900 will be the immediate hurdle for the index as 20- and 50-day EMA are placed in that region. Any sustainable move above the level of 50,900 will lead to sharp upside rally up to the level of 51,700, followed by 52,300 in the short term,” said Shah.

(This story originally appeared in on Aug 16, 2024)

The 9th US Circuit Court of Appeals said NetChoice, a trade group was likely to show that the California Age-Appropriate Design Code Act violated the First Amendment by requiring businesses to opine on and reduce the risk that children may face harmful materials online. But the court set aside the rest of the preliminary injunction, saying the judge who imposed it failed to properly assess NetChoice's other objections, or whether the law could survive without the unconstitutional parts.

₹2,606.18 crore, while their foreign counterparts or FIIs net purchased shares worth ₹766.52 crore . Overall, investor wealth increased by ₹7.3 trillion, per exchange data, on fresh buying and short covering (closing out bearish derivatives bets). Veteran money managers said the bullish sentiment is likely to continue despite quarterly earnings being in line.

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

The price of Pepe ($PEPE), the third largest meme coin on the market and the biggest in the non-doge category has crashed 9.5% overnight, posting the largest losses among the sector’s big three.

Packaged foods makers Nestle and PepsiCo are in talks with Godrej Agrovet, one of the country's largest producers of palm oil, to buy refined palm oil locally for some of their biggest brands such as Maggi instant noodles and Lay's potato chips, executives directly aware of the developments said. Multinationals are sourcing locally amid rising global prices of the commodity as well as logistics costs and heightened scrutiny on the quality of edible oils by the government under the Food Safety & Standards Authority of India (FSSAI). They also aim to cut short months-long import buying cycles and circumvent any potential supply disruptions amid continued global geopolitical turmoil. So far, Nestle and PepsiCo have sourced palm oil primarily from Indonesia and Malaysia for Indian operations.

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...