US stock markets traded higher on Thursday, with technology and artificial intelligence (AI)-linked stocks rebounding after a volatile week, while investors continued to monitor rising geopolitical tensions in the Middle East, inflation concerns and global interest rate expectations.The benchmark S&P 500 rose 0.5% in morning trade, recovering some of the losses recorded over the previous…
The World Bank has lowered its global growth forecast for 2026 to 2.5%, citing the economic fallout from the ongoing conflict in the Middle East, rising energy prices and heightened uncertainty across markets.In its latest Global Economic Prospects report, the lender warned that global growth could slow further to 1.3% if energy supply disruptions become…
MUMBAI: Banks have begun passing on benefits from the Reserve Bank of India’s free hedging window to non-resident customers, pushing up Foreign Currency Non-Resident (Bank) deposit rates and, in the process, reopening a tidy arbitrage between offshore borrowing costs and onshore returns.Meta taps RIL for AI data centre capacityMeta taps RIL for AI data centre…
There is new money, old money, and then the kind of money that could make someone the world’s first trillionaire!With SpaceX set to make its long-awaited Wall Street debut on Friday in what is expected to be the biggest IPO in history, that possibility may no longer seem far-fetched. If the listing goes as planned,…
Equity benchmarks ended lower on Thursday as weak global cues, rising crude oil prices, geopolitical tensions in the Middle East and sustained selling in IT stocks weighed on investor sentiment.The session saw heightened volatility, with both indices swinging between losses and recovery before closing in negative territory.The BSE Sensex ended 150.63 points, or 0.20%, lower…
NEW DELHI: Meta has signed its first artificial intelligence data centre deal in India, partnering with Reliance Industries on a 168-megawatt facility in Jamnagar, Gujarat, as technology companies race to secure the computing infrastructure needed to power AI applications.The agreement deepens a relationship that began with Meta’s $5.7 billion investment in Jio Platforms in 2020…
Wipro’s Rs 15,000 crore share buyback opened on Thursday, allowing eligible shareholders to tender shares at Rs 250 apiece, significantly above the prevailing market price of under Rs 180.The IT major plans to buy back up to 60 crore shares, or around 5.7% of its total paid-up equity capital.The offer window will remain open from…
MUMBAI: Tata Consumer Products, which began as a tea joint venture with British firm Finlay, has crossed Rs 20,000 crore in annual revenues, marking what chairman N Chandrasekaran called the completion of its transformation into a multi-category consumer goods group.The company has built its newer “growth” businesses —packaged foods, pantry staples and ready-to-drink beverages —…
India has exported its first consignment of Geographical Indication (GI)-tagged Tezpur litchi from Assam to Dubai, marking a milestone in efforts to expand overseas markets for agricultural products from the Northeast, according to the commerce ministry.The one-metric-tonne consignment, exported on June 7, was facilitated by the Agricultural and Processed Food Products Export Development Authority (APEDA).The…
NEW DELHI: Government plans to raise the issue of the US decision to impose a 100% duty on patented drug imports from India, seeking tariff parity to safeguard the interests of domestic manufacturers. The matter is expected to figure during the trade negotiations with Washington, with New Delhi seeking tariff concessions in line with the…
