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Bloomberg Quint
1w
317
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Maharashtra Signs MoU With Russia's Rosatom To Develop Thorium-Based Small Modular Reactor
- Maharashtra has signed an MoU with Russia's Rosatom to develop a thorium-based small modular reactor.
- This marks the first time a state government in India will be involved in nuclear energy development.
- The approval of the Centre is necessary before progressing with the project.
- The MoU aims to commercialize thorium reactors in Maharashtra and establish an assembly line for their production.
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Bloomberg Quint
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164
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India Supports World's First Global Carbon Tax On Shipping
- India and 62 other countries on Friday voted in favour of the world's first-ever global carbon tax imposed on the shipping industry by the United Nations' shipping agency.
- Starting 2028, ships will either have to shift to lower-emission fuels or pay a fee for the pollution they generate.
- The tax could generate up to $40 billion by 2030, which will be used exclusively to cut emissions in the shipping industry, not for supporting climate action in developing countries.
- Despite this breakthrough in global climate policy, carbon pricing is expected to reduce shipping emissions by only 10% by 2030, falling short of the IMO's target of at least 20%.
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Bloomberg Quint
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US Tariffs Could Shrink Global Trade By 3%: UN Economist
- Global trade could shrink by 3% due to US tariffs, leading to shifts in trade patterns and economic integration, says UN economist.
- US President Donald Trump's tariff plan, with a 90-day pause, may result in exports moving from US and China to India, Canada, and Brazil.
- Countries like Mexico, China, and Thailand are among the most affected by the tariffs, with significant impact on global GDP projected by 2040.
- Developing countries are advised to prioritize diversification, value addition, and regional integration to navigate global shocks effectively.
- China imposing 125% tariffs on US imports signals a long-term strategic approach, aiming to outlast and outmaneuver the US in the trade war.
- Beijing shifting away from symmetrical retaliatory tariffs indicates a focus on economic ties in Southeast Asia to buffer its economy and expand diplomatic clout.
- The ongoing trade tensions between the US and China are causing a virtual halt in goods trade between the two largest economies.
- Both Washington and Beijing may eventually need to re-engage and manage the trade situation for long-term stability, suggested by experts.
- Chinese President Xi Jinping is aiming to outlast and outmaneuver Trump's tariff strategies by focusing on long-term strategic advantages.
- Beijing's goals include economic buffering, expanding diplomatic influence, and applying pressure on US allies in the trade negotiations.
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Bloomberg Quint
1w
73
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Ireda Q4 Results: Date, Business Update, Share Price History And More
- Indian Renewable Energy Development Agency Ltd. (Ireda), a non-banking financial institution, will announce its financial earnings for the quarter and year ending March 31, 2025, next week.
- Ireda's Q4 financial results will be announced on April 15, 2025, following a board meeting.
- Trading in Ireda's securities will remain suspended for designated persons and their immediate relatives from April 1 to April 17.
- In Q3 of FY25, Ireda reported a net profit of Rs 425 crore, a 26.7% increase from the year-ago period, and a revenue of Rs 1,699 crore, a 35.6% increase year-on-year.
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Bloomberg Quint
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205
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US Recession Risk Still High After Trump Tariff Delay, Economists Say
- Wall Street economists maintain forecasts for a sharp US economic slowdown with elevated recession risk post Trump's tariff delay.
- Projections range from -0.1% to 0.6% GDP growth in 2025 and 0.5% to 1.5% in 2026, alongside nearly 5% unemployment and rising inflation.
- Despite market rally, economists remain pessimistic due to high US tariff rates, with a potential for sub-1% GDP growth quarters leading to a recession.
- The effective average US tariff rate slightly decreased to 26.25% after the tariff delay announcement.
- Economists foresee stagflationary pressures in the US amidst high tariffs and shifting imports away from China.
- The risk of recession remains high for the US, with Goldman Sachs pegging it at 45% and JPMorgan seeing a possible contraction later this year.
- Financial markets are volatile post-tariff delay, with the S&P 500 up 7.6% but still below the February record high.
- Federal Reserve Bank of New York predicts slower GDP growth, higher unemployment, and inflation rates in the US.
- UBS economist highlights the significant impact of US tariff decisions on imports, equating to the size of a large developed market economy.
- US willingness to raise taxes despite the tariff delay raises concerns about the economic impact and underappreciated implications.
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Bloomberg Quint
1w
213
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JPMorgan CEO Jamie Dimon Predicts Treasury Market ‘Kerfuffle’ Where Fed Steps In
- JPMorgan CEO Jamie Dimon predicts a 'kerfuffle' in the US Treasury market and expects the Federal Reserve to step in.
- Yields, especially on longer-term debt, have increased amid market turmoil related to President Trump's tariff policy.
- Dimon suggests that bank rule changes are necessary to avoid a repeat of the Treasury market freeze seen in March 2020.
- He highlights the need for reforms to make banks more active intermediaries, otherwise, the Fed will have to intervene.
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Economic Times
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305
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Alphabet, Nvidia invest in OpenAI cofounder Sutskever's SSI
- Alphabet and Nvidia have invested in OpenAI co-founder Ilya Sutskever's startup, Safe Superintelligence (SSI), which focuses on artificial intelligence.
- SSI has quickly become one of the most valuable AI startups and recently secured a funding round led by Greenoaks, valuing the company at $32 billion.
- Alphabet's cloud computing arm will provide SSI with access to its in-house AI chips, while Nvidia's investment in SSI underscores the increasing interest of big tech companies in AI investments.
- SSI primarily uses tensor processing units (TPUs) for AI research, which are more efficient for specific tasks, while competing with major cloud providers investing in AI startups.
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Pymnts
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20
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Revolut to Add UK Stocks to Trading Platform
- Revolut plans to add U.K. stocks to its trading platform in response to customer demand.
- The company gained its U.K. trading license in November.
- Revolut already offers U.S. and European equities on its platform.
- The company aims to expand its banking services, launch an IPO, and become a global financial services app.
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Pymnts
1w
240
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Bank of England Warns of Higher Market Volatility From AI-Driven Trading
- The Bank of England has warned that the use of artificial intelligence (AI) in algorithmic trading could increase market volatility and amplify financial instability.
- The widespread use of AI for trading and investing could lead to a 'herding' behavior, causing sudden market drops.
- The report emphasizes that the use of advanced AI-based trading strategies could result in firms taking increasingly correlated positions and acting similarly during times of stress, thereby amplifying shocks.
- However, if AI is used to tailor strategies specifically for each client, it could lead to more market stability by diversifying investments.
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Bloomberg Quint
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199
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SEBI Seeks Public Feedback On Revised Investor Charter For RTAs, Research Analysts
- Securities and Exchange Board of India (SEBI) invites public comments on a draft paper to review the investor charter for RTAs, investment advisers, and research analysts.
- The move aims to enhance financial consumer protection and boost investor awareness by providing investors with details about the activities carried out by RTAs, RAs, and IAs.
- SEBI directs all registered RTAs to disseminate the investor charter through websites, emails, and prominently display it in offices.
- The revised charter specifies key services, expected timelines, and disclosure requirements for RTAs, RAs, and IAs, promoting transparency and informed decision-making.
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Bloomberg Quint
1w
303
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RBI Mandates PRAVAAH Platform For Regulatory Applications From May 1
- RBI has mandated the use of the PRAVAAH platform for submitting regulatory applications starting from May 1, 2025.
- The PRAVAAH platform was launched to streamline online applications for regulatory authorizations, licenses, and approvals.
- Applicants, including Regulated Entities, are advised to use PRAVAAH for submitting applications using the available application forms.
- In exceptional cases, applications can be submitted directly to the Reserve Bank, but will be processed through the PRAVAAH system.
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Bloomberg Quint
1w
134
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IPL 2025: Clinical KKR Comprehensively Beat Chennai By 8 Wickets
- A clinical Kolkata Knight Riders (KKR) thrashed Chennai Super Kings (CSK) by eight wickets in an Indian Premier League match.
- CSK managed only a paltry 103 for nine, their lowest total at their home ground Chepauk.
- Sunil Narine was the pick of the bowlers for KKR, taking 3 wickets for 13 runs.
- KKR achieved the target of 104 in just 10.1 overs, winning the match by 8 wickets.
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Bloomberg Quint
1w
201
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Mumbai: 'Kavach 5' Train Safety System To Be Ready By December, To Boost Suburban Network By 30%
- Mumbai-specific 'Kavach Version-5' train protection system is expected to be completed by December-end.
- The system will allow the introduction of 30% more trains on the suburban network.
- To reduce the heavy crush load, the new trains will be redesigned to improve oxygen and air flow, as well as door closure timing.
- The Railway Minister has committed a significant investment of Rs 17,000 crore for projects in Mumbai.
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Bloomberg Quint
1w
290
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India Seeks Consultations Under WTO With US Over Steel, Aluminum Tariffs
- India has sought consultations with the US under the WTO's safeguard agreement following American authorities' decision to impose tariffs on steel and aluminium.
- On March 8, 2018, the US imposed safeguard measures on certain steel and aluminium articles with ad valorem tariffs of 25% and 10% respectively.
- The US has failed to notify the WTO Committee on Safeguards about the decision to apply safeguard measures.
- India requests consultations with the US to exchange views on the measure and hopes for a prompt reply and mutually convenient date and venue for the consultations.
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Bloomberg Quint
1w
17
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Sula Vineyards Q4 Updates: Overall Revenue Almost Flat, Wine Tourism Segment Sees 24.6% Jump
- Sula Vineyards Q4 revenue remained almost flat at Rs 132.6 crore.
- Revenue from own brands slipped by 2.9% to Rs 109.6 crore.
- Wine tourism segment saw a 24.6% jump in revenue at Rs 20.4 crore.
- Overall revenue for the fiscal year 2024-25 recorded a 1.7% growth.
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