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Guardian
7h
256
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Pound drops after Bank of England says it could cut interest rates more if jobs market slows
- The pound dropped to a three-week low following comments made by the governor of the Bank of England suggesting more interest rate cuts if the job market slows.
- Andrew Bailey expressed concerns about a potential economic slack due to higher taxes squeezing employers, leading to a downward path for interest rates.
- Investor expectations of an August rate cut increased to 85% after Bailey's remarks, with the pound slipping to $1.3467 - its lowest level since 23 June.
- The UK economy faces challenges as inflation remains above target, the government imposes tax increases on employers, and hiring by UK businesses declines.
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TheNewsCrypto
7h
63
Ripple (XRP) Price Prediction: Can XRP Reach $4 in July, or Will Bears Drag It Below $1.50? Trader Suggests Buying This Crypto Instead
- XRP faces uncertainty amid SEC lawsuit, may reach $4 or drop below $1.50.
- Trader suggests Little Pepe (LILPEPE) as alternative with explosive growth potential.
- LILPEPE, priced at $0.0014, offers real utility and significant upside over XRP.
- LILPEPE's Layer-2 blockchain tech provides faster transactions and strong community support.
- Investors can consider LILPEPE as a top meme coin investment for 2025.
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Bloomberg Quint
7h
58
Image Credit: Bloomberg Quint
HCLTech Q1 Attrition Flat At 12.8%, Employee Headcount At 2.23 Lakh
- HCL Technologies Ltd. reported an attrition rate of 12.8% for the April-June quarter, the same as the previous year.
- HCLTech added 1,984 freshers during the quarter, increasing the total headcount to 2.23 lakh.
- The company's profit for the April-June period declined 11% sequentially, missing analysts' estimates.
- Employee expenses increased by 2%, impacting the operating margin due to lower utilisation and investments in AI.
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Bloomberg Quint
7h
246
Image Credit: Bloomberg Quint
India To Gain Against China, Vietnam Due To High Tariff Differential: NITI Aayog
- India is set to gain against China, Vietnam, and other manufacturing economies due to higher tariffs imposed on competitors, as per NITI Aayog.
- The tariff differential, calculated as competitors' tariff minus India's tariff, is expected to benefit India in various product categories like electrical machinery, pharmaceuticals, and organic chemicals.
- NITI Aayog's Trade Watch report for Q3 of FY25 indicates potential gains for India in exports to the US, calling for diversification of trade partners and faster free trade agreements.
- The report also emphasizes reducing non-tariff barriers, fostering trade in services, and enhancing trade engagement with countries like Australia, Japan, South Korea, and ASEAN nations.
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Bworldonline
7h
31
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Marcos dares Caticlan contractors to complete terminal in 18 months
- President Ferdinand R. Marcos, Jr., proposes an 18-month accelerated timeline for completing the new passenger terminal at Caticlan airport in Aklan province.
- The new terminal, valued at P2.5 billion, is a partnership between San Miguel Corp. and Megawide Construction Corp. Mr. Marcos lauds Megawide's commitment to the project.
- Improvements are planned for airports like Iloilo, Bohol, and Siargao to enable direct international flights, reducing the need to pass through Manila's congested airport.
- The new terminal at Caticlan Airport is designed to accommodate up to seven million passengers annually, enhancing the travel experience for visitors to Boracay and the Western Visayas.
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Bworldonline
7h
179
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Real estate prospects clouded by new US tax on remittances
- The US decision to impose a 1% remittance tax is expected to impact property investing activity by overseas Filipino workers (OFWs).
- The tax could lead to a decrease in remittances allocated for real estate investments, affecting the property market, particularly in the luxury segment.
- Analysts estimate a potential dip in remittances between $19.1 million and $148.4 million as a result of the tax, impacting the economy minimally.
- The decline in money sent home by OFWs could reduce demand for residential and retail offerings in the industry, potentially leading to canceled purchases and impacting retail demand.
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Bworldonline
7h
165
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Palay average farmgate price falls 31.8% in June
- The average farmgate price of palay (unmilled rice) dropped by 31.8% year on year in June to P16.99 per kilo, according to the Philippine Statistics Authority.
- Month on month, the average palay farmgate price decreased by 4.3% compared to May.
- No rice-producing region in the Philippines saw a year-on-year increase in average farmgate prices in June.
- The Department of Agriculture is contemplating establishing a floor price for palay after noting traders purchasing palay at low prices in certain areas.
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Bworldonline
8h
271
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Sustained current account deficit expected to put pressure on peso
- Deutsche Bank Research predicts pressure on the peso due to the Philippines' sustained current account deficit caused by increasing infrastructure investments and higher capital good imports.
- The current account deficit reached $4.25 billion in the first quarter, equivalent to 3.7% of the GDP, up from the previous year's 1.9%.
- Large-scale infrastructure projects like the Metro Manila Subway, North-South Commuter Railway, and New Manila Airport contribute to the deficit, with the government targeting 5-6% of GDP for annual infrastructure spending.
- Despite the positive impact on long-term prospects, the near-term FX pressure is expected to increase, with the BSP planning two rate cuts, leading to a recent decline in the peso's value.
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HinduBusinessLine
8h
193
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Tata Technologies reports mixed Q1 results as revenue dips 3.2% QoQ
- Tata Technologies reported a 3.2% QoQ dip in revenue but saw a 5.1% increase in net income to ₹170.3 crore.
- Operating EBITDA reached ₹200.1 crore, maintaining a margin of 16.1%.
- The company's workforce stood at 12,407 employees with an attrition rate of 13.8%.
- Tata Technologies secured partnerships with major clients, including Volvo Cars, and announced collaborations for next-generation mobility solutions.
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Bworldonline
8h
21
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NGCP still studying ERC rate reset decision
- NGCP is studying the ERC decision on its fourth regulatory period rate reset from 2016 to 2022.
- ERC approved a maximum allowable revenue of P335.78 billion for NGCP.
- NGCP is entitled to recover an additional P28.29 billion in under-recoveries, resulting in an additional charge per kilowatt-hour for consumers.
- Transmission charges for the June period increased month on month, mainly due to higher ancillary service charges.
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1 Like
Coinjournal
8h
341
Image Credit: Coinjournal
AAVE gains strength as Aave dominates DeFi lending with over $50B net deposits
- Aave has become the first DeFi protocol to surpass $50 billion in net deposits, indicating increasing confidence in decentralized finance.
- Innovative features like collateral swapping and institutional interest have fueled Aave's rapid growth and ecosystem integrations.
- The $50 billion milestone signifies a shift towards blockchain-based financial options and underscores Aave's role in democratizing DeFi lending and borrowing.
- AAVE's price has surged over 8% in the past 24 hours, with technical indicators supporting a positive trajectory, indicating potential growth opportunities for the native token.
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Bworldonline
8h
77
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WB considering co-financing PHL farm-insurance project
- The World Bank is evaluating a Philippine climate-change mitigation insurance project for small farmers, which it could co-finance for up to $358 million.
- The project will involve a blended finance credit facility and the establishment of the country's first agricultural co-insurance pool to enable large-scale private-sector agricultural insurance.
- The implementing agency for the project in the Philippines will be the Department of Agriculture, with the Department of Finance acting as the borrower.
- The project aims to address the financing gap for agricultural micro, small, and medium-sized enterprises and improve insurance coverage for agriculture in the Philippines.
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Bworldonline
8h
176
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PHL to host EITI conference next year
- The Philippines will host the Extractive Industries Transparency Initiative (EITI) Global Conference in June next year, as announced by the Department of Finance.
- Finance Secretary and PH-EITI Chairman Ralph G. Recto highlighted that the country's hosting of the conference demonstrates its commitment to upholding EITI's principles and promoting good governance in extractive industries.
- EITI is a global standard that promotes transparency in managing oil, gas, and mineral resources, with member countries committing to full transparency across the extractive value chain.
- The conference will gather delegates from governments, industry, civil society, and academia to discuss strategic priorities including anti-corruption efforts, domestic resource mobilization, responsible resource governance policies, data use, transparency innovations, and challenges in the extractives sector.
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HinduBusinessLine
8h
257
Image Credit: HinduBusinessLine
SAEL to set up ₹8,200 cr integrated solar manufacturing facility in UP
- SAEL is set to establish an ₹8,200 crore integrated solar manufacturing facility in Uttar Pradesh under YEIDA.
- The project, to begin construction this year, will include a 5 GW solar cell manufacturing unit and a 5 GW solar module manufacturing line.
- Upon completion, SAEL's total solar manufacturing capacity will reach 8.5 GW, with a focus on TOPCon solar cells.
- The initiative aligns with UP's renewable energy targets and India's clean energy goals, supporting domestic supply chains and reducing reliance on solar equipment imports.
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Moneyweb
8h
246
FNB joins Visa as official sponsor of 2026 FIFA World Cup
- FNB partners with Visa as official sponsors for the 2026 FIFA World Cup set to take place across Canada, Mexico, and the United States next year.
- A joint campaign titled "It starts here" has been launched by FNB and Visa, offering South African customers a chance to win an all-expenses-paid trip to the FIFA World Cup™ along with exclusive merchandise.
- FNB aims to make a lasting difference through this partnership, providing a unique World Cup experience to South Africans and taking three winners to the tournament.
- Visa, the official payments partner, plans to offer seamless tech-enabled experiences for customers both on and off the field during the tournament to ignite passion and unity globally.
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