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Without fanfare, Trump quietly approves $30 million more in arms for Ukraine amid rising global tensions

Economic Times

Economic Times · 2m ago

Without fanfare, Trump quietly approves $30 million more in arms for Ukraine amid rising global tensions

U.S. President Donald Trump's administration discreetly approved a $30 million arms transfer to Ukraine amid rising global tensions. This decision follows a temporary freeze on military aid to Ukraine earlier in the year, which was lifted after ceasefire talks. The administration also approved another $242 million arms package last month. This move occurred while U.S. lawmakers scrutinized the administration's military aid strategy and emphasized the necessity of supporting Ukraine to counter Russian aggression.

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Infosys, Wipro ADRs surge up to 3% as Wall Street major indices discount Israel-Iran tensions

Economic Times

Economic Times · 2m ago

Infosys, Wipro ADRs surge up to 3% as Wall Street major indices discount Israel-Iran tensions

Infosys and Wipro's American Depository Receipts (ADRs) surged up to 3% amid positive trends on Wall Street, influenced by global oil price declines. Infosys ADRs rose 2.2%, while Wipro's increased 3% as indices like the Dow 30, S&P 500, and Nasdaq Composite climbed significantly. Despite regional tensions between Israel and Iran, the markets remained optimistic. Domestic indices like BSE Sensex and Nifty also saw gains, with the Nifty IT index rising by 1.6%.

'I gave Iran chance after chance to make a deal': Trump warns Iran to act quickly, urges end to violence amid Israel conflict

Economic Times

Economic Times · 2m ago

'I gave Iran chance after chance to make a deal': Trump warns Iran to act quickly, urges end to violence amid Israel conflict

Former U.S. President Donald Trump warned Iran to make a deal amid rising tensions with Israel, following Israeli airstrikes in Iran. He stressed urgency, stating that a deal should be made before further destruction occurs. His comments preceded scheduled talks between Iran and the U.S. in Oman regarding Iran's nuclear program. The conflict involves longstanding hostilities between Israel and Iran, further intensified since the 2023 Gaza war began. Trump ended his statement urging for peace.

US stock market today: Dow struggles, Nasdaq dips, S&P slides as Boeing crashes and Trump sparks fresh China tariff fears

Economic Times

Economic Times · 2m ago

US stock market today: Dow struggles, Nasdaq dips, S&P slides as Boeing crashes and Trump sparks fresh China tariff fears

The US stock market faced volatility as Dow Jones, S&P 500, and Nasdaq experienced fluctuations due to geopolitical tensions and trade policy uncertainties. President Trump's announcement of a "done deal" with China, including a potential 55% tariff, created skepticism and market anxiety. Boeing's stock plummeted following a fatal crash, while Oracle surged due to strong earnings. Rising Middle East tensions raised oil prices, with investors turning to safe havens like gold amid global uncertainties.

Piyush Goyal to meet exporters on June 30 amid global tensions

Economic Times

Economic Times · 2m ago

Piyush Goyal to meet exporters on June 30 amid global tensions

Commerce and Industry Minister Piyush Goyal is set to meet exporters on June 30 to address India's export challenges amid global tensions, particularly in West Asia. The meeting aims to ensure continuity and stability in trade routes and prepare for upcoming trade agreements, including with the US, UK, and EU. With India's export targets ambitious, this meeting is crucial for strategizing amid global geopolitical shifts and securing sectors like textiles from potential tariffs.

EU countries call for European Investment Bank to push into defence funding

Livemint

Livemint · 6m ago

EU countries call for European Investment Bank to push into defence funding

Nineteen EU countries, including France and Germany, are urging the European Investment Bank (EIB) to increase lending for the defense industry amid security concerns from Russia's invasion of Ukraine. Although EIB cannot currently fund arms production, the countries propose revisiting this prohibition and considering defense bonds. While some governments have reservations, especially about potential impacts on EIB’s credit rating, there is a call to reconsider financing strategies to strengthen EU defense capabilities.

'Yeh jo kiraye ke tattu hain': Union Minster Hardeep Puri slams pro-Khalistan protestors

Economic Times

Economic Times · 2m ago

'Yeh jo kiraye ke tattu hain': Union Minster Hardeep Puri slams pro-Khalistan protestors

Union Minister Hardeep Singh Puri criticized recent pro-Khalistani protests in Canada, describing the demonstrators as "hired stooges" who shouldn't be taken seriously. He made these remarks during an exhibition event in Delhi. Puri also addressed concerns about rising fuel prices due to Iran-Israel tensions, assuring that India has sufficient energy reserves. He highlighted advancements in India's green energy sector, including bio-fuel blending and initiatives in green hydrogen technology. Global markets remain cautious amid regional tensions impacting oil prices.

Trump says Ukraine has no chance of winning war without striking Russia

Livemint

Livemint · 7d ago

Trump says Ukraine has no chance of winning war without striking Russia

Former President Trump stated that Ukraine has little chance of winning the war without launching attacks on Russia. His comments came shortly after two summits aimed at resolving the conflict. Trump compared the situation to a sports team unable to win by only defending. The White House labeled his social media post as merely an "observation." Trump also mentioned plans for peace talks between Russian and Ukrainian leaders.

Move beyond Trump’s tariff war: Former Niti Aayog CEO Amitabh Kant warns of a deeper global economic reset

Economic Times

Economic Times · 4m ago

Move beyond Trump’s tariff war: Former Niti Aayog CEO Amitabh Kant warns of a deeper global economic reset

Former NITI Aayog CEO Amitabh Kant warns about a profound shift in the global economic landscape beyond headline tariffs. He highlights a reset in global trade amid rising geopolitical tensions, broken supply chains, and a shift from free trade to protectionism, noting the impact of Trump's tariffs. Kant sees the end of post-WWII economic stability as countries like the U.S. and China grapple with new conflicts, presenting India with potential opportunities for strategic supply chain diversification.

Amazon shuts down Shanghai AI research lab: FT report - The Economic Times

Economic Times

Economic Times · 1m ago

Amazon shuts down Shanghai AI research lab: FT report - The Economic Times

Amazon is closing its Shanghai AI lab amid rising US-China tensions, aligning with increased US scrutiny on American companies in China. This move is part of Amazon's global strategy to cut jobs, similar to actions by other tech giants like Microsoft and Meta, who are focusing more on artificial intelligence. The lab shutdown reflects strategic shifts in response to geopolitical challenges and broader industry trends towards AI reliance.

Canadian pension fund OTPP trims Asia venture growth team, to focus on India

VCCircle

VCCircle · 1y ago

Canadian pension fund OTPP trims Asia venture growth team, to focus on India

Ontario Teachers' Pension Plan (OTPP) has laid off four dealmakers in its Asia venture and growth equity investment team in Hong Kong. The team will now shift its focus to India, with OTPP spokesperson stating that "this decision is related only to our venture growth team in Hong Kong." This move comes amid rising tensions between China and the West, as well as a challenging investment environment in the country due to tougher listing rules and rising global interest rates. OTPP has spent over $22 billion in the Asia Pacific region.

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