BUSINESS
NIFTY falls short of intraday lifetime high by a whisker, correction to follow
The new level was 63,523.15 points on BSESENSEX and 18,856.85 points on NIFTY. BSESENSEX at the end of the week lost 405.21 points or 0.64 per cent to close at 62,979.37 points while NIFTY lost 160.50 points or 0.85 per cent to close at 18,665.50 points. The broader indices saw BSE100, BSE200 and BSE500 lose 1.10 per cent, 1.10 per cent and 1.09 per cent respectively.
21st century economic growth to be slower than thought
“We're at a point where we maybe need to significantly increase financing for (climate) adaptation in developing countries, and we're also at a point where we might be overestimating our future ability to provide that financing under the current fiscal paradigm,” said Matt Burgess,
How monsoons influence market sentiments
Part of the delayed monsoon could be attributed to the recent cyclone 'Biparjoy' which made landfall in Saurashtra and parts of Gujarat and was quite devastating. As an effect of the cyclone, it did bring rain to parts of Maharashtra and Rajasthan, besides Gujarat.
Pakistan, IMF close to signing deal
The development comes after a flurry of meetings between the two sides following Prime Minister Shehbaz Sharif's huddle with the International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, in Paris earlier this week, Geo News reported. Pakistan and the International Monetary Fund (IMF) on Friday narrowed down their differences .
FPI inflows likely to moderate due to rising valuations in India
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said FPIs continued their May strategy in June too, so far. Globally, Japan continues to attract the biggest inflows, followed by India. They were big sellers in China and also sold in S Korea and Thailand.
Kharge hits back at Centre after RBI's paper on inflation
In a tweet in Hindi, Kharge said: "When the Congress says that there is inflation, then Modiji's ministers say that 'inflation is not visible at all'. When the public says that there is inflation, then the Modi government makes excuses for supply, weather, war. "Now the RBI of the government itself is saying that due to the inflation, the public is spending less, due to which the sales have decreased and private investment has been badly affected.
US-India collaboration on DPIs will make us a global digital innovation hub: Nasscom
The partnership between the US and India to enable development and deployment of Digital Public Infrastructure (DPI) in developing countries will provide India with an opportunity to solidify its position as a global digital innovation hub, setting an exemplary model for other nations to follow, Nasscom has said.
Amazon CEO says committed to invest $26 bn in India by 2030
Amazon has invested about $11 billion in India so far and has plans to invest nearly $15 billion more by 2030."Productive meeting with Prime Minister Narendra Modi. Discussed Amazon's commitment to invest $26 billion in India by 2030," Jassy tweeted after meeting PM Modi who concluded his three-day state visit.
Satya Nadella, PM Modi discuss how AI can help improves lives of Indians
Prime Minister Modi met Nadella and other key leaders at the White House in Washington, D.C., on Friday, along with a delegation of officials from India.While these conversations were private, one important topic was the power of technology, particularly Artificial Intelligence (AI), to help improve the lives of Indians.
Global markets slide on recession fears
Hong Kong's Hang Seng Index led the losses, closing 1.7 per cent down. Japan's Nikkei 225 ended the day 1.5 per cent lower and Australia's S&P/ASX 200 shed 1.3 per cent, CNN reported. Stock exchanges in mainland China were closed for a public holiday.
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