The US Treasury is in discussions with Argentina to provide a $20 billion swap line to the South American country’s central bank, Treasury Secretary Scott Bessent said Wednesday, as right-wing President Javier Milei seeks to stabilise markets ahead of upcoming midterm elections. Following the announcement, the Argentine peso gained 2.4 percent to 1,333.90 per dollar.“The…
US stocks showed modest gains on Wednesday as Wall Street paused after a strong rally that pushed major indexes to near record highs.The S&P 500 rose 0.1% in early trading following its first loss in four days, while the Dow Jones Industrial Average gained 152 points, or 0.3%, AP reported. The Nasdaq composite was up…
The World Trade Organization (WTO) on Wednesday welcomed China’s decision not to seek new special treatment in future WTO negotiations, calling it a step toward a more equitable global trading system.“This is a pivotal moment for the WTO,” said Ngozi Okonjo-Iweala, WTO Director-General, news agency AFP reported. “China’s decision reflects a commitment to a more…
The official indicated that the ministerial delegation is scheduled to return later this week. (AI image) India-US trade deal: At a time when Commerce minister Piyush Goyal is in America, an official has said that the trade deal talks between India and US are happening at various levels.“Talks are happening at different levels,” an official…
PhonePe plans $1.5 billion IPO PhonePe Limited filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) late Tuesday night, taking the confidential route.The company confirmed the development and said the filings were made in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, reported ET.PhonePe…
Rs 3,745 cr investment cleared by Cabinet pane (Image credits: ANI) In a major boost to both industry and agriculture in Telangana, the state’s Industrial Promotion Cabinet sub-committee has approved investments worth Rs 3,745 crore from three multinational companies. The projects are expected to generate direct employment for 1,518 people.Deputy chief minister Bhatti Vikramarka Mallu,…
Tata 1mg seeks $200 mn funding Tata 1mg, the online pharmacy arm of Tata Digital, is looking to raise $200 million in a fresh funding round, attracting interest from Novo Holdings, Canadian pension fund CPPIB, Permira, and Chrys Capital, according to sources familiar with the matter.The fundraising is part of a larger capital raise across…
JPMorgan Chase & Co. estimates indicate that Russian refining operations have declined to under 5 million barrels daily. (AI image) Russia’s crude oil exports have climbed to a 16-month high at a time when its own refineries are reeling under drone attacks from Ukraine. Vessel-tracking data compiled by Bloomberg shows that the four-week average exports…
File photo NEW DELHI: Union minister Piyush Goyal on Wednesday pointed out India’s contribution to US workforce and said “talent and innovation” of “Indian engineers and graduates” helps support America’s “growth plans.” The comments came amid ongoing H-1B visa chaos caused by the Donald Trump administration, categorically targeted at “low-cost foreign labour.”Speaking at the US-India…
Market analysts anticipate sustained market strength, backed by improving domestic consumption attributed to GST reforms and seasonal festival-related activities. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Wednesday on weak global cues. While Nifty50 was below 25,100, BSE Sensex was down over 200 points. At…