Trade Financial News

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The Biden administration is suggesting the possibility that new penalties could be put in place if the Chinese makers of electric vehicles try to move their production to Mexico to avoid newly announced import taxes

GameStop and other meme stocks are roaring once again, surging to dizzying heights suddenly and sharply

Stocks that traded heavily or had substantial price changes on Wednesday: Petco, Nextracker rise; Dlocal, AMC Entertainment fall

Morocco has grown its automotive industry from virtually non-existent to Africa’s largest in less than two decades

Taliban in Kabul, the next UN meeting on Afghanistan, and ways to stop terrorism originating from the Af-Pak and Eurasia regions. Senior Russian diplomat and President's special envoy on Afghanistan Zamir Kabulov and JP Singh, JS (Pak-Afghan-Iran) MEA met here to discuss Afghanistan's current situation, Taliban engagement, Daesh/ISIS threats, and narcotics trafficking, according to people familiar with the issue. While Singh visited Kabul sometime ago, Kabulov was there in April to meet the entire Taliban leadership. Kabulov, a former envoy to Kabul, is regarded as one of the world's foremost authorities on Afghanistan. According to ET, the purpose of the meeting on Wednesday was to discuss the notes from these visits and come to a consensus regarding Afghanistan under Taliban.

ALSO READ: Wall Street today: US stocks surge after inflation data Videogame retailer GameStop shed nearly 30 per cent, nearly half of its gains in the past two sessions, while cinema chain AMC fell 25 per cent after surging 135 per cent in the same period. In an exchange filing, AMC said it will issue nearly 23.3 million shares of its stock to exchange for $163.9 million in debt that it owes. Trading in the retail investor darlings were halted multiple times after the market opened, with investors exchanging more than $2.3 billion worth of GameStop shares.

DLF is betting big on increasing super luxury consumption and 90% of the 11.6 million square feet of projects it plans to launch in FY25 — with total revenue potential of Rs 36,000 crore — will be in the super luxury segment. The proposed launches will include apartments priced Rs 60 crore and above in Gurgaon and villas in Goa priced more than Rs 50 crore, Aakash Ohri, joint managing director at DLF Home Developers Ltd, told ET in an interaction. Edited excerpts: There are some concerns over projects getting sold out within days of launch. DLF has sold out three projects in the last 18 months. Do you think the trend is sustainable in the long term? We have seen the time when we had Rs 17,000-crore worth of unsold inventory. We have seen the struggle and pain and we don't want to go back to those days… We have to motivate brokers and investors. This is the time when people are believing in the DLF story and I don't have to prove myself to a third party. My record books are clean and anyone can come and do random checks. If people are now coming to DLF and believing that their aspirations will be met (and) their money is safe. We are not only selling fast, collecting more money faster, we are also making sure that our delivery schedules are on time to customer expectations.

trade deficit stood at $19.1 billion during April 2024, up from $14.44 billion during April 2023. The goods trade deficit had stood at $15.6 billion in March 2024. The April figure fell short of economists' expectations of the merchandise deficit coming in at $17.23 billion, according to a Reuters poll.

India is considering formulating standard operating procedures (SOP) for negotiating free trade agreements (FTAs) as the country is engaging with several trade partners for such pacts, an official said. To discuss the various aspects of these agreements, the commerce ministry is organising a two-day 'Chintan Shivir' on FTA strategy and SOPs for trade negotiations. Former commerce secretaries, industry experts and government officials would participate in the deliberations on May 16-17 at Neemrana, Rajasthan. Various issues that would come up for deliberations include India's trade strategy and vision 2047; economic assessment and modelling of FTAs; inclusion of new disciplines into FTAs such as labour, environment, gender, indigenous people; services and digital trade; SOPs for FTA negotiations; and industry experience on utilisation of the FTAs.

Indian market snapped a 3-day winning streak to close in the red on Wednesday, tracking muted global cues. The S&P BSE Sensex fell more than 100 points while the Nifty50 managed to hold on to 22,200 levels towards the close of the trade.

Vivek Joshi on Wednesday said increasing Free Trade Agreements (FTAs) would be a key strategy for enhancing India's financial services exports. Inaugurating a workshop on financial services in FTAs here, Joshi highlighted the pivotal role of financial services in India's export strategy. The workshop organised jointly by Department of Financial Services (DFS) and Exim Bank brought together key stakeholders from the government bodies and academia to delve into the intricate dynamics of FTAs and the pivotal role of financial services in the new-age FTAs. India has significant potential to capitalise on the growing demand for financial services globally, particularly with the emergence of GIFT City as a major hub for financial services, Export-Import Bank of India (Exim Bank) said in a statement.

Wednesday, May 15, 2024 – Solana meme coin Slothana ($SLOTH) has been making new all-time highs as it pulls in buyers eager to take pole position for even bigger gains to come. Currently priced at $0.035, $SLOTH was trading as high as $0.0565 at the beginning of the week. Now bulls are targeting $0.10 for upside of 185% in the near term.  If word on the crypto grapevine is correct, $SLOTH could easily surpass that price target, with meme coins continuing to outperform the rest of the crypto market – and Solana-based tokens are leading the way. Rumors of a top 10 centralized exchange listing is set to add to the momentum created by a token burn mechanism that has seen bulls charge into the $SLOTH market. The most recent $1 million burn led to a price pump shortly after the event news was posted on X.

Zerodha Fund House (ZFH) on Tuesday said that its Growth Liquid ETF, Zerodha Nifty 1D Rate Liquid ETF, has crossed Rs 1,000 crore in assets under management (AUM).

In the landscape of finance, a radical shift is ongoing, it challenges the traditional investment landscape for financial gains. This transformation is vainly guarded by Social Stock Exchanges (SSEs); it prioritizes investing in social and environmental causes along with monetary returns. As the world is facing numerous challenges, climate change, poverty, social injustice, and inequality, SSEs provide an opportunity for investors to align financial objectives with societal development.

DSP Mutual Fund on May 15 announced the launch of DSP Nifty Bank Index Fund, an open-ended scheme tracking Nifty Bank Index. The fund will offer an opportunity to invest in banking stocks at reasonable valuations.

Read more: Why regulatory restraints are not enough to contain retail trading in F&O Another prevalent channel through which people buy mutual funds is banking. Many people—especially the older generation—happen to buy MFs through banks as they’re easy targets for the banks. Bank employees generally need to meet their sales targets and guiding investors is usually not their forte once the sales are done.

Nifty on Wednesday ended 17 points lower to form a high wave type candle on the daily chart. The index largely traded sideways and failed to generate any significant directional breakout. The short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further upmove. A sustainable move above the immediate resistance of 22,300 levels is likely to open the doors for the higher target of 22,600 levels in the near term. Immediate support is at 22,070 level, said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities.

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KuCoin has made the decision to suspend all naira-based peer-to-peer (P2P) trading in response to increased scrutiny from Nigeria’s regulatory authorities.

The NSE Nifty index ended the session 17.3 points down at 22200.55, while BSE Sensex fell 117.58 points to 72987.03.