30 C 
Bankers question role of RP in the Subhash Chandra case and how net worth was computed
Dissenting banks say unresolved pleas for a forensic audit and asset trailing to be conducted on Subhash Chandra's financials to probe how his networth fell from more than Rs 40,562 crore when he issued the guarantees to Rs 32 crore in 2025, the crowding out of lenders by related party entities in the committee of creditors (CoC), and the role of resolution professional (RP) Shiv Nandan Sharma in admitting questionable entities as creditors highlights the difficulties in recovery in high-profile cases.
Newsom Blocked on Push to Shield Utilities From Fire Liabilities
California Governor Gavin Newsoms push to shield publicly traded utilities from some wildfire liabilities has been blocked by state lawmakers, according to people familiar with the negotiations.
In 1905, an engineering blunder redirected the Colorado River into a desert basin, unintentionally giving rise to California's Salton Sea. Initially, this man-made lake flourished as a vibrant resort destination, attracting countless visitors. However, over time, rising salinity and dwindling water levels have altered its appeal. Despite these challenges, the Salton Sea continues to serve as a crucial habitat for migratory birds along the Pacific Flyway.
'We got the job done': US forces clear Iranian sea mines from strait of Hormuz; shipping reopens
BRICS set to adopt framework for supply-chain cooperation
India will chair the BRICS Summit, focusing on development and innovation. The summit will address resilient supply chains and promote trade in national currencies. Global institutional reforms and BRICS Bank projects will also be discussed. Unilateral sanctions against member countries are expected to receive attention. Leaders from eleven BRICS and ten partner countries will attend the event.
Bodies of four Nagas, killed in Manipur ambush, retrieved
Bodies of four Naga civilians killed in Manipur's Kangpokpi district were retrieved on Friday. Armed assailants attacked a vehicle on Thursday, killing four and injuring two others. Security forces faced disruptions but later reached the site to retrieve the bodies. Chief Minister Y Khemchand Singh directed immediate action against those responsible for the attack. The United Naga Council accused two militant outfits of involvement in the ambush.
Hazardous substances near Shattuck Chemical Company prompted a settlement for restoration projects. Funds supported habitat improvements along Colorado's South Platte River and Eastern Plains. Restoration projects enhanced wetland and riparian areas for migratory birds. Denver's Overland Pond Park also saw habitat and riverbank improvements.
Signboard row: Mamata Banerjee seeks release of 13 arrested
Former Chief Minister Mamata Banerjee demanded the immediate release of thirteen arrested Trinamool workers. The arrests followed a ruckus during the dismantling of an alleged illegal signboard. She questioned the police's actions and the use of a gas cutter at the site. Banerjee asserted that the Trinamool Congress would soon return to power. She also criticized the BJP government and the state police for their actions.
Infosys says public services CEO unreachable after deadly Nepal flood
Lax Gopisetty was visiting the region in his personal capacity; Infosys says it is working with relevant agencies to gather information and establish contact
During World War I, a clandestine German telegram sparked a controversial proposal for Mexico to launch an attack on the United States. British intelligence successfully intercepted and decoded this crucial message, revealing offers to regain lost territories. The confirmation of the telegram's authenticity by Germany swayed public opinion in America dramatically, alongside escalating submarine warfare, ultimately leading the United States to declare war against Germany in April 1917.
Blackstone to sell $1.25 billion stake in India's Knowledge Realty Trust
The investor will sell up to 11.1 million units representing 25.03% stake on Aug. 31 for non-retail investors and Sept. 1 for retail investors, according to a filing.
Jio Platforms gets SEBI nod for biggest IPO listing of around 37,700 crore
Debt repayment, strong cash flows underpin investor optimism around Jio IPO
Hero MotoCorp buys Rs 1,758 crore Ather Energy stake in block deal
Hero MotoCorp acquired 1.18 crore shares of Ather Energy for Rs 1,758 crore. This purchase significantly deepened Hero MotoCorp's existing holding in the electric two-wheeler maker. The Government of Singapore was the seller in this substantial block deal transaction. Hero MotoCorp's stake in Ather Energy now stands at approximately 32.8 percent. This move strengthens Hero MotoCorp's position in India's growing electric mobility market.
Jackson Hole: Will Kevin Warsh's inflation warning put Nifty under pressure on Monday?
Nifty faces potential pressure on Monday following US Fed Chairman Kevin Warsh's hawkish inflation comments at Jackson Hole. Elevated US bond yields, a stronger dollar, and rising crude oil prices threaten foreign institutional flows, while technical analysts highlight 24,200 as a key resistance level for the Indian stock market.
Purple Style Labs collects 306 cr from anchor investors; IPO opens Aug 31
Purple Style Labs Ltd, the parent company of Pernia's Pop-Up Shop, on Friday raised Rs 306 crore from anchor investors ahead of its Rs 680-crore initial public offering (IPO), which will open for subscription on August 31. The company has allotted 53.22 lakh equity shares to 10 anchor investors at Rs 575 per share, according to a circular uploaded on BSE's website. Some of the investors participating in the anchor book include ICICI Prudential Mutual Fund, Jupiter India Fund, Aditya Birla Sun Life Insurance Company Ltd, ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies (Asia) Pte Ltd, Morgan Stanley Asia (Singapore) Pte and BoFA Securities Europe SA ODI. The IPO will open on August 31 and close on September 2. The IPO comprises a fresh issue of equity shares aggregating up to Rs 680 crore, with no offer-for-sale component. The price band for the issue has been fixed at Rs 546-575 per share. At the upper end of the price band, the issue values Purple Style Lab
ANHVL to invest 2,200 crore to expand bed capacity to 2,500 in 4-5 years
Ambuja Neotia Healthcare Venture Ltd (ANHVL) has earmarked an investment of around Rs 2,200 crore to expand its footprint across eastern India over the next four to five years, a top company official said on Friday. It will add close to 1,800 beds to take the total capacity to 2,500 beds, Managing Director Parthiv Neotia said. As part of the expansion, the healthcare arm of the Ambuja Neotia Group announced an investment of around Rs 150 crore to set up a 120-bed woman and child care facility in Howrah under its flagship Neotia Bhagirathi Woman and Child Care Centre network, which is expected to become operational by April 2029. Our existing four healthcare facilities have 700 beds, and we identified Howrah as a key growth corridor with a growing need for specialised women and child healthcare services, Neotia said. He said the new centre aims to bring advanced clinical expertise and comprehensive maternal, neonatal, and paediatric care closer to local families, reducing the need
Reliance Group rejects Subhash Chandras remarks as 'baseless'
Reliance Group has rejected Essel Group chairman Subhash Chandra's claims as baseless. Chandra disputes a Rs 3,900 crore claim before the National Company Law Tribunal. He stated his group borrowed Rs 45,000 crore and repaid most of it. Reliance expressed dismay over Chandra's remarks about their media businesses. The group holds Chandra in high regard as a businessman and entrepreneur.
Sebi bars Trafiksol ITS, promoters for 1 year for misleading IPO disclosures
Sebi has banned Trafiksol and its promoters from the securities market for one year. Monetary penalties were also imposed on the company and its two promoters. The regulator found misleading financial disclosures and inflated revenue figures in the company's IPO documents. Sebi also noted concealment of material facts and submission of false information regarding Oasis Corpcare. The IPO was unwound after Sebi directed Trafiksol to refund investors and cancel shares.
Fitch Ratings upgrades RILs Long-Term Local-Currency Issuer Default Rating to A-
Fitch affirms RILs Long-Term Foreign-Currency IDR at BBB, which is one notch above Indias Country Ceiling of BBB-,with a Stable Outlook
Rakhi gifting gets premium, personal as smaller towns drive festive commerce
Tier 3 and Tier 4 markets record the fastest growth. Dadri in Uttar Pradesh leads with around 105% y-o-y growth, followed by Nabarangapur in Odisha, Kasganj, Dhamtari and Nainpur in Madhya Pradesh
Purple Style Labs secured Rs 306 crore from anchor investors before its upcoming IPO. The company will open its initial public offering for subscription on Monday, August 31. This luxury fashion platform operates under Pernia's Pop-Up Shop, offering curated designer products. It sources items from 1,109 active designer brands, focusing on wedding and occasion wear. Purple Style Labs utilizes an omni-channel model with 14 global experience centers.
Board of Cupid accords in-principle approval for establishing manufacturing JV in South Africa
On 28 August 2026
Prestige launches new residential project 'Palm Court' in North Chennai
With estimated gross development value of Rs 1330 cr
Aditya Birla Capital allots 1.41 lakh equity shares under ESOP
Consequent to the above allotment, the paid-up equity share capital of the company will increase from Rs 27,37,37,02,690 (i.e. 2,73,73,70,269 equity shares of face value of Rs 10/- each) to Rs 27,37,51,21,170 (i.e. 2,73,75,12,117 equity shares of face value of Rs 10/- each).
Quote of the Day by Burt Lancaster: Burt Lancasters quote, I judge a restaurant by the bread and by the coffee, explores the importance of quality, simplicity, and attention to detail when experiencing food and hospitality. The quote suggests that a restaurants true standard can often be recognized through its simplest offerings rather than only its expensive or elaborate dishes. Good bread and well-prepared coffee can reveal the care, consistency, and quality that go into the overall dining experience.
India, China to work out modalities to implement 8-point border pact
India and China will implement an eight-point consensus from recent Special Representatives talks. Both nations will now determine how to operationalize the agreed agenda points. Discussions focused on maintaining peace and creating conditions for stable bilateral relations. Expert groups will advance discussions on boundary delimitation and border management. Future meetings and hotline channels were also agreed upon for better communication.
Computer Age Management Services allots 1.41 lakh equity shares under ESOP
Bihar braces for floods as Nepal rains push rivers above danger mark
Bihar faces significant flood threats as river water levels continue to rise. Heavy rainfall and flash floods in Nepal have caused major rivers to swell. Authorities have opened barrage gates and are monitoring river embankments closely. People are being moved from low-lying areas to safer locations. Disaster response teams are on standby for any emergency situations.
Tornado weather tears through Capital Region, toppling trees and shutting down county fair
A powerful storm swept through New York's Capital Region on Thursday. Downed trees and scattered debris caused significant disruptions in several communities. The Washington County Fair closed early for safety due to the severe weather. Power outages created traffic problems and darkened intersections in Wilton. Rensselaer County also continued recovering from earlier storm damage.
Aurobindo Pharma's Unit-VI completes USFDA inspection
New Delhi [India], August 28: Satin Growth Alternatives Limited (SGAL), the youngest subsidiary of Satin Creditcare Network Limited (SCNL), is pleased to announce the First Close of its women-led Category II Alternative Investment Fund, achieved within four and a half months of receiving its SEBI registration. This milestone reflects the strong momentum behind SGAL's differentiated investment thesis, built on SATIN's 35-year legacy and its continued commitment to advancing impact, empowerment, and inclusion.
Reliance Jio Infocomm standalone net profit rises 6.79% in the June 2026 quarter
Sales rise 10.78% to Rs 34212.00 crore
Annu Projects IPO subscribed 2.93 times
The offer received bids for 5.18 crore shares as against 1.76 crore shares on offer.
Currency in circulation shows accelerating trend, up 12.4% on year
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India could hit $5.1 trillion by FY29, says OmniScience Capital
The investment firm projects nominal GDP growth of 8% annually in US dollar terms, assuming 6.5% real growth, 4% inflation and 2.5% rupee depreciation per year
PM Modi celebrates Raksha Bandhan at residence 7 LKM; shares 'high fives, smiles'
Suzlon targets Europe's wind boom with high capacity turbines
Suzlon said Europe is entering a key repowering phase, creating demand for higher-capacity, site-specific turbines
Laurus Labs among 5 stocks hitting 52-week highs; surge up to 20% in a month
Six BSE 200 stocks hit fresh 52-week highs on Friday as the Sensex gained 331 points. Coforge, GSK Pharma, Glenmark Pharma, Laurus Labs, Oracle Financial Services Software and Piramal Finance showed strong momentum, with several posting double-digit monthly gains.
PM Jan Dhan Yojana has had unparalleled impact, transformative outcomes: PM Modi
The Pradhan Mantri Jan Dhan Yojana has achieved unparalleled impact and transformative outcomes. This initiative has significantly reshaped India's financial landscape and global financial inclusion efforts. Millions of unbanked adults now have access to basic banking services and digital transaction tools. Women's participation in the financial system has increased substantially through these accounts. Rural and semi-urban areas are now better served by this extensive banking network.
Sensex, Nifty snap two-day losing streak; IT stocks surge, breadth positive
Key equity benchmarks rebounded on Friday, snapping a two-session losing streak, as a sharp rally in IT stocks helped offset weakness in select heavyweight banking and consumer-facing stocks. The rally in IT shares was supported partly by stronger global technology sentiment following upbeat Nvidia results. Pharma and metal stocks also gained, while FMCG and consumer durable stocks declined. Investor sentiment remained cautious ahead of Kevin Warsh's speech later today. Warsh is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for clues on the US central bank's monetary policy outlook. Firm crude oil prices also weighed on sentiment.
Quick Wrap: Nifty IT Index rises 3.51%
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As far away as possible: Why Norways new King Haakon once fled royal life for California
Norway's new King Haakon VIII ascended the throne after his father's death. He once sought distance from royal life and its constant public attention. Haakon found freedom and a sense of self while living in California. His marriage to Mette-Marit brought him closer to public engagement. The new king now faces family scrutiny and institutional challenges.
Airtel gains 26.8 lakh mobile users in July, Jio's wireless net adds at 24.4 lakh
During July 2026, the Indian wireless market expanded by 55.38 lakh mobile subscribers; its base surged to 128.79 crore by the end of July, up from 128.23 crore from the previous month
Norway mourns the passing of King Harald V at age 89, a monarch who reshaped royal traditions over his remarkable 30-year reign. His commitment to modernizing the monarchy is reflected in his choice to wed commoner Queen Sonja, illustrating a shift towards greater inclusivity. As Crown Prince Haakon ascends the throne as King Haakon VIII, King Harald's profound legacy of love and duty will continue to resonate.
Chandra NCLT order: Subhash Chandra has disputed the 3,900-crore NCLT claim against him, saying his group has repaid around 43,000 crore of its 45,000-crore debt. He also questioned claims filed by lenders over personal guarantees.
ITAT rejects tax departments FTS, royalty claims on Spencer Stuarts executive search fees
The income-tax tribunal ruled in favor of Spencer Stuart International BV. Executive search fees were not treated as technical services under the tax treaty. The tribunal deleted a tax addition related to expense reimbursements. A separate dispute concerning management fees was sent back for fresh examination.
Chinese stocks end lower as US-China tensions weigh on sentiment
The Shanghai Composite fell 0.11% to 3,952.2, while the Shenzhen Component dropped 0.68% to 13,953.1. Concerns grew after US President Donald Trump indicated that Chinese banks could face sanctions. Reports of a possible 7.5% US tariff on Chinese goods also added to the pressure.
Jio IPO soon! RIL's telecom arm gets Sebi nod for Rs 37,700 crore offering
Jio Platforms has received Sebi approval for its proposed Rs 37,700 crore IPO, bringing Reliance Industries much-awaited listing closer. The issue could value Jio at nearly Rs 9.5 trillion and become Indias largest IPO. The company plans to use Rs 27,500 crore of proceeds to repay borrowings of Reliance Jio Infocomm.
BYD reports 20.5% drop in first-half profit
Net profit totalls 12.3 billion yuan ($1.83 billion) for the January to June period
DRI conducts search at plant owned by Waaree Energies arm
The search relates to the classification of certain stainless-steel pipes and tubes imported under the EPCG scheme and the applicability of dumping duty on them
Subhash Chandra speaks out on NCLT allegations, airs plans to go to Switzerland
Chandra argues that the company has already repaid about 43,000 crore of the 45,000 crore total outstanding with the remaining amount pending due to complications in the asset liabilities of other companies
Indian equities rebounded on Friday, ending a two-session losing streak as heavyweight IT stocks led gains. Nifty rose 0.35% to 24,175.65, while Sensex gained 0.43% to 77,264.51. Analysts expect consolidation amid mixed global cues and geopolitical uncertainty.
Nifty September futures trade at a premium
India VIX dropped 3.70% to 10.66
KP Green Engineering bags new orders worth 258 cr
The new orders worth 258.02 crore include solar projects 114.53 crore, crash barriers 92.38 crore, pre-engineered buildings 33.76 crore, transmission towers 15.42 crore, poles and highmast 0.97 crore and isolator 0.96 crore
ACME Solar Holdings secures SECI contract for 300 MW capacity
A tariff of 6 per kWh has been finalised for the entire PPA
Motilal Oswal says several headwinds facing Indian equities are easing, supported by stronger earnings, positive FII flows and domestic demand. It remains Neutral on equities but Overweight on mid- and small-caps, while preferring gold over silver and accrual-focused fixed-income strategies.
Indices snap 2-day losses; IT shares rally
Market participants remained focused on the upcoming speech by Kevin Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for indications of the US central banks monetary policy outlook.
Euro holds in tight range, inflation sees sharp uptick in France and Spain
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Google changes Europe spam policy as EU fine could reach 10% of global turnover
Google has changed its Europe spam policy after EU concerns over publisher demotions. The move comes as DMA breaches can attract fines of up to 10% of global annual turnover. The revised policy takes effect August 30 in the EEA.
Board of Asian Tea & Exports approves change in Managing Director
At meeting held on 28 August 2026
Motilal Oswal Private Wealth keeps overweight mid-cap Stance as FIIs return to Indian markets
The report notes that foreign institutional investors turned net buyers of Indian equities in July 2026 for the first time in four months, recording net inflows of USD $2.5 billion
SBI General Insurance Q1 GDPI rises to Rs 3,506 crore; comprehensive income jumps 17%
SBI General Insurance reported 10.9% year-on-year GDPI growth to Rs 3,506 crore in Q1 FY27. Comprehensive income rose 17.4% to Rs 573 crore, while health, engineering and personal accident segments delivered strong growth, alongside a 2.0-times solvency ratio.
How did Sensex crash 2,000 points in 6 minutes while Nifty stayed stable?
Sensex plunged over 2,000 points during Thursdays closing auction session before recovering some losses, while Nifty remained comparatively stable. Market experts attributed the sharp divergence largely to thin trading volumes on BSE. The episode has renewed scrutiny of the new CAS mechanism, particularly around monthly expiry and its impact on price discovery.
SEBI plans bigger institutional role in public offers by small firms, sources say
SEBI to align costs and trading requirements for small company IPOs with large offerings
Retail investors bet big on these 12 smallcap stocks that rallied up to 150%; 3 turned multibaggers
Retail investors increased holdings in 124 smallcap stocks for the fourth straight quarter. Despite subdued sector performance, nine stocks delivered 50%-150% gains alongside steadily rising retail ownership.
India can reach a $5.1 trillion economy by FY29 as growth strengthens: Omniscience Capital
India's economy could reach $5.1 trillion by FY29, according to OmniScience Capital. Stronger real growth and healthier balance sheets support this expansion. The pandemic and rupee depreciation had previously delayed this $5 trillion ambition. Real GDP growth averaged 7.4% between FY22 and FY26. An optimistic scenario projects India's GDP reaching $5.9 trillion by FY29.
Sensex, Nifty trade in positive terrain; consumer durables shares climb
Market participants remained focused on the upcoming speech by Kevin Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for indications of the US central banks monetary policy outlook.
Karnataka Bank launches Capital Gains Account Scheme
Karnataka Bank has launched the Capital Gains Account Scheme (CGAS), offering customers a convenient and compliant banking solution to deposit unutilized capital gains while planning eligible reinvestments under the provisions of the Income-tax Act.
HSBC has initiated coverage on recently listed Manipal Health with a Buy rating and Rs 1,000 target price, implying 26% upside. The brokerage sees strong growth potential from improving hospital utilisation, the Sahyadri turnaround, higher-margin speciality mix and deleveraging, with adjusted PAT expected to nearly triple by FY29.
Ola Electric shares rally over 5%, rebound 79% from March low. Heres whats driving the stock
Ola Electric shares rallied on Friday after the EV maker launched its new S1Z scooter range with indigenous Bharat Cell LFP technology. The stock has rebounded nearly 79% from its March low, while the new models target Indias mass-market EV segment with prices starting at Rs 79,999.
Expect fatalities in niche quick commerce, says FirstCry CEO Supam Maheshwari
Maheshwari said high logistics costs and a lack of scale may hurt niche players, while established retailers will leverage in-house brands and existing networks to win.
99.97% haircut? How the scissors worked in the Subhash Chandra case
NCLT has approved a resolution plan allowing Zee founder Subhash Chandra to pay about 6.5 crore against 22,006.57 crore in admitted claims in insolvency case. The 99.97% haircut has sparked controversy, but the claims relate to his role as a personal guarantor, not personal borrowing. Creditors can retain recovery rights against the principal borrowing companies.
Sensex, Nifty trade marginally higher; European mrkt advance
Market participants remained focused on the upcoming speech by Kevin Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for indications of the US central banks monetary policy outlook.
India-China thaw raises hopes among automakers for easier access to EV technology, components
Auto industry eyes possible easing of restrictions as dependence on Chinese battery cells, power electronics, rare-earth magnets and EV technology grows.
JM Financial calls Metropolis Healthcare best-value diagnostic stock, sees up to 27% upside
JM Financial has retained its Buy rating on Metropolis Healthcare with a target price of Rs 734, implying 27.2% upside. The brokerage calls it the cheapest among Indias leading listed diagnostic players, citing attractive valuations, network expansion, stronger B2C growth and improving margins as key drivers.
Andrew Yule & Company receives affirmation in credit ratings for bank facilities
From Acuite Ratings and Research
Elara initiates coverage on Alkem, Eris, IPCA and Mankind. Check ratings and targets
Elara has initiated coverage on four pharmaceutical stocks, assigning Buy, Accumulate and Reduce ratings. Alkem Laboratories emerged as its top pick for margin recovery, while Eris Lifesciences and Mankind Pharma could benefit from portfolio expansion, acquisitions and deleveraging. Elara retained a cautious view on IPCA Laboratories after its recent rally.
SoftBank seeks another $10 billion loan for OpenAI stake funding
The loan would contribute to SoftBanks recent debt financing related to its investment in OpenAI, including a potential $20 billion bond sale, amid rising credit risks in the AI sector
TVS names Peyman Kargar as CEO
Mr. Peyman will succeed K. N. Radhakrishnan, who will continue in his role until January 27, 2027, to ensure a seamless transition
Wipro rises after expanding AI partnership with Google Cloud
Wipro rose 2.36% to Rs 180.56 after the company announced an expansion of its partnership with Google Cloud to accelerate enterprise-wide adoption of Gemini Enterprise and agentic artificial intelligence (AI).
IT stocks power markets; Sensex up 165 points at noon as investors await Warsh speech
TCS leads Nifty 50 gainers, rising 3.81% to 2,334 against a previous close of 2,248.40
In 1989, the space shuttle Discovery transported thirty-two fertilized chicken eggs into microgravity. Although younger embryos did not endure the five-day trip, the older ones hatched successfully, exhibiting slight alterations in their inner ear development. Initiated by a student's curiosity, this experiment provides valuable insights for future space endeavors, highlighting the necessity for the vestibular system to adapt to varying gravitational environments.
Nepal issues new flood warning after dam breach in Tibet
Nepal authorities issued a fresh flood warning after water levels rose significantly. Rising water mixed with mud increased the risk of another dangerous flood event. A water dam on the Tibetan side reportedly burst again, raising further concerns. Rescue teams continue searching for missing people while monitoring the new flood risk. The warning covers areas around the Bhote Koshi and Trishuli rivers.
US judge blocks Trump executive order on mail-in ballots ahead of midterm elections
A federal judge blocked President Trump's executive order concerning mail-in ballots. This ruling came just days after the Supreme Court lifted a previous block. The order sought to restrict mail-in voting ahead of the midterm elections. Judge Indira Talwani cited the impracticality and potential unconstitutionality of the directive. The Trump administration is expected to appeal this significant judicial decision.
LeapFrog plans to invest $100 million in Indias healthcare system over two years
LeapFrogs strategic investment aims to capitalize on Indias booming healthcare market, driven by increasing insurance coverage and a rise in chronic diseases, as the sector is projected to nearly double in value within five years.
Dollar index holds around a one-week high
Dollar index is holding near a one-week high on Friday as investors cautiously awaited Federal Reserve Chair Kevin Warshs speech at the annual Jackson Hole symposium later in the global day for clues about the outlook for US interest rates. DXY is holding above 99 mark on higher than expected inflation levels. Recent July PCE inflation metrics arrived higher than anticipated at 3.7% on year, fueling bets of an additional interest rate hike by December. Escalating economic sanctions aimed at isolating Iran's banking and trade networks have also sparked defensive safe-haven demand for the US currency. Stronger upside for the DXY is however constrained by Treasury Secretary Scott Bessent's aggressive expansion of long-dated government bond buybacks.
Market trades sideways; FMCG shares decline for 3rd day
Market participants remained focused on the upcoming speech by Kevin Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for indications of the US central banks monetary policy outlook.
ICICI Bank completes issuance of USD 1 billion Senior Notes
ICICI Bank , acting through its IFSC Banking Unit, has today completed the issuance of USD 1 billion Senior Unsecured Fixed Rate Notes (Notes) under the USD 7.5 billion Global Medium Term Note Programme of the Bank.
Brahmaputra Infrastructure receives LoA from AHIDMS, Govt. of Assam
India sends its Fab 4 across the world to woo trade, tech, energy and capital
India engages key partners, focusing on border management and energy security. Discussions with China now include investment alongside boundary talks. Russia talks address energy supplies and a widening trade imbalance. Japan and Canada visits seek investment and manufacturing partnerships. These engagements align with India's upcoming hosting of the BRICS summit.
