Business
Cable security agenda: Indo-EU team to assess risks; cooperation on critical infrastructure on summit table
India and the European Union are set to hold detailed discussions on bolstering the security and resilience of undersea cables in the Indian Ocean. This crucial dialogue, involving military personnel and officials, aims to identify risks and develop practical solutions for protecting vital digital infrastructure. The cooperation underscores a shared commitment to maritime security and…
‘Strong wicket’: Piyush Goyal says November exports show healthy rise; merchandise trade picks up after October slump
India’s exports rebounded strongly in November, surpassing October’s decline and indicating renewed momentum despite global economic uncertainty. Minister Piyush Goyal highlighted this recovery, alongside ongoing efforts to secure free trade agreements with several key global partners. He also affirmed the Indian economy’s resilience, citing robust GDP growth and healthy financial indicators.
‘Outdated base year’: FM Sitharaman explains IMF’s ‘C’ grade on national accounts; says GDP growth figures not questioned
Finance Minister Nirmala Sitharaman clarified that the IMF did not question India’s growth figures, attributing the ‘C’ grade on national accounts to an outdated base year. India will shift to a 2022-23 base year in 2026, addressing the IMF’s concern. The Fund acknowledged India’s healthy economic performance and resilience.
US markets today: Wall Street drifts near record highs as Marvell jumps; Macy’s sinks on high expectations
Wall Street saw mixed trading as corporate earnings presented a varied picture. While Marvell Technology and American Eagle Outfitters posted strong results, Macy’s and CrowdStrike faced headwinds despite beating profit expectations. Bond yields dipped following softer private payroll data, fueling hopes for a Federal Reserve rate cut. Global markets showed a mixed performance.
Rupee slide: Uday Kotak links breach of 90-mark to foreign selling; is domestic buying enough to stem the fall?
Veteran banker Uday Kotak points to persistent foreign selling by FPIs and PE funds as the primary driver behind the rupee’s sharp fall past 90 against the dollar. Despite strong domestic investor buying and robust GDP growth, India’s currency is Asia’s worst performer this year, pressured by broad dollar outflows and a widening trade deficit.