UPS Financial News

India's services inflation may remain muted for next few months and will witness a pickup in second half only, economists said, thus helping curb core inflation. «There may be some more downside to services inflation, but a mean reversion or normalisation will happen in the second half of the year,» said Rahul Bajoria, MD & head EM (ex-Asia), Barclays. “However, rates are unlikely to rise to higher levels witnessed postpandemic,” he added.

banks and the Central Bureau of Investigation (CBI) over ‘old’ cases of ‘fraud’. The central agency, it is understood, is insisting on what could be a retrospective application of last year’s Supreme Court (SC) ruling that a borrower must be given a hearing before the account is classified as ‘fraud’ and a “reasoned order” must follow if such an action is taken. However, in several old cases where the accounts were tagged as ‘fraud’ well before the SC ruling, CBI has asked banks whether the borrowers were granted the opportunity to explain their position, a senior industry person told ET. Bankers are unwilling to go back to these past matters. “We believe banks are not required to do this as the decisions to categorise the accounts (as fraud) were taken before March 2023 (when the apex court spelt out its stand). Banks are of the view that the ruling is not applicable to old matters. But the agency has referred quite a few old cases back to banks, asking them if borrowers were accorded a hearing,” said another person.

Oracle and another AI infrastructure company giving in-principle approval to join the network. People+ai, an initiative by EkStep Foundation co-founded by Nandan Nilekani, set out last year to address increasing compute demand in the country, which is increasing with AI. The Open Cloud Compute (OCC) project is aiming for an open network where customers can discover the micro data centres, new players can build them, and investors can get on board.

Indian Space Research Organisation (ISRO) on Monday announced that its PSLV Orbital Experimental Module-3 (POEM-3) re-entered the Earth's atmosphere without leaving any debris in orbit. The ISRO has termed it “another milestone". "The PSLV-C58/XPoSat mission has practically left zero debris in orbit," the space agency said.

Edited excerpts: This year is looking quite good. We got off to a good start with an mergers and acquisitions (M&A) announcement, the Lodha qualified institutional placement (QIP) and British American Tobacco Plc (BAT) sell down in ITC. We also have a couple of initial public offerings (IPOs) which are filed out there.

Asian shares are trading mixed as investors await further indications of future U.S. interest rate cuts

While blue-chip cryptos are pumping on Monday, with Bitcoin (BTC) pushing back above $70,000 and Ether (ETH) back in the $2,600s, traders looking for even faster gains continue to turn to the on-chain shitcoin markets in the hunt for top crypto gainers today.

The crypto market shook off some of the jitters from last week, creeping back up in the green on Monday. Bitcoin rebounded past $70,000, and gains were seen across crypto tokens and crypto-related stocks.

Gold staged a blinding comeback last week, surging to fresh all-time highs above $2,200 an ounce. The rally, which has added around 10% to gold’s value since mid-February, caught many market watchers off-guard. But for those of us who’ve stuck with the yellow metal through its ups and downs, the price action is the vindicating result of several powerful forces aligning in bullion’s favor.

On Monday, Morgan Stanley equity strategists raised their rating on the energy sector to Overweight, citing “a combination of inflecting relative earnings revisions, strong breadth and compelling valuation.”

By Akash Sriram and Zaheer Kachwala

By Saqib Iqbal Ahmed

The Bitcoin (BTC) price pushed back above $70,000 on Monday for the first time in 9 days as traders focused on the theme of global central bank easing, a possible easing on GBTC sell pressure and BlackRock’s first major entry into the realm of asset tokenization.

Last week, the S&P 500 hit a new daily high of 5,261.10 points and a closing high of 5,241.53. It's up 9.7% since the start of the year and 46.3% from the lows of October 2022, when it fluctuated in the 3,577-point area.

By David Shepardson and Allison Lampert

(Reuters) -Lucid said on Monday it is raising $1 billion in capital from an affiliate of Saudi Arabia's Public Investment Fund (PIF), sending the shares of the luxury electric carmaker up about 8%.

As crypto prices pick up on Monday and Bitcoin (BTC) pushes back to the north of $70,000, investors are hunting feverishly for the best crypto to buy today to secure quick gains.

With Reddit options able to be traded from today, it has sparked discussions about the potential resurgence of investor appetite for loss-making companies. So far this year, we have seen a trend of retail investors showing a slightly increased interest in high-risk, high-reward investments once again.

European Union regulators have opened investigations into Apple, Google and Meta, in the first cases under a sweeping new law designed to stop Big Tech companies from cornering digital markets that took effect earlier this month

A major European Union plan to fight climate change and better protect nature in the 27-nation bloc has been indefinitely postponed

These are turbulent times for wind and solar energy