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Bloomberg Quint
1w
307
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US Says 12 Tariff Letters To Be Issued Today, Others To Get In Coming Days
- The White House announced that new tariffs will be communicated to leaders of 12 countries, with tariffs starting on Aug. 1.
- Trump recently imposed 25% tariffs on Japan and South Korea, with the new tariffs affecting countries like Malaysia, Kazakhstan, South Africa, Myanmar, and Laos.
- Countries hit with tariffs face varying rates, with South Africa facing a 30% levy and Myanmar and Laos facing 40% tariffs.
- India was not listed among the countries facing new tariffs, as negotiations with the US for a bilateral trade agreement continue.
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Bloomberg Quint
1w
305
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Meeting Held To Clear Bottlenecks In Rs 36,296-Crore Infra Projects In Gujarat, Rajasthan
- A high-level meeting was held to review challenges affecting major infrastructure projects worth Rs 36,296 crore in Gujarat and Rajasthan.
- The meeting aimed to clear bottlenecks through the Project Monitoring Group mechanism and addressed 22 issues linked to 18 critical projects.
- The initiative discussed the Transmission System Strengthening Scheme for evacuation of power from solar energy zones in Rajasthan and Gujarat, with an investment potential of Rs 14,147 crore.
- The meeting also reviewed the 5G/4G network expansion project of Reliance Jio, focusing on expanding 5G mobile services to remote areas and strengthening existing 4G infrastructure.
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Bloomberg Quint
1w
402
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NLC India Approves Investment Of Over Rs 1,600 Crore In Subsidiary
- NLC India's board approved an investment of over Rs 1,600 crore in its subsidiary, NLC India Renewables Ltd.
- The investment will involve subscribing to equity shares pending stakeholder approvals and borrowing a term loan of $100 million for capex funding of renewable projects.
- The company aims to achieve targets of 20 million tonnes of coal production and 25 MT of lignite production this financial year.
- NLC India's stock closed 1.34% lower, with plans to maintain Ebitda margin following strong performance in the previous fiscal.
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Bloomberg Quint
1w
222
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Polling Stations In Uttar Pradesh To Increase By 12% As ECI Issues New Directive: CEO Rinwa
- Uttar Pradesh Chief Electoral Officer Navdeep Rinwa announced that the number of polling stations in the state is expected to increase by nearly 12% following ECI's directive to limit voters per station to 1,200.
- The increase aims to reduce queues on polling day and improve voter experience. Rinwa shared this information at a training session in Meerut for District Magistrates and Election Officers from 15 districts.
- The training covered electoral roll revision, election procedures, and relevant laws. Rinwa emphasized the importance of correcting voter list errors, appointing trained Booth Level Officers, and ensuring polling stations have necessary facilities.
- The CEO also highlighted the use of ERO Net for electoral roll preparation, specific guidelines for BLO appointments, and promoted transparency in all electoral roll activities. The initiative aims to enhance voter list fidelity and accuracy.
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Bloomberg Quint
1w
294
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Tesla Slides On Concern Musk’s New Party Will Worsen Slump
- Tesla's stock slid 7.4% following Elon Musk's announcement of forming a new political party, the 'America Party,' which caused concerns about the impact on the company.
- Investors are worried that Musk's involvement in politics is distracting him from focusing on Tesla, leading to a 28% decline in the stock value this year.
- Musk's political ambitions and lack of details about the new party have raised questions among analysts, with some downgrading Tesla's rating and expressing concerns about his divided attention.
- There are criticisms that Musk's political pursuits are overshadowing his responsibilities at Tesla, affecting shareholder confidence as the company faces challenges such as declining sales figures.
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Pymnts
1w
292
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Boosted.ai Turns to Agentic AI to Think and Act Like Investors
- Boosted.ai has launched the latest version of its agentic AI platform Alfa, designed to work on behalf of asset managers to find insights in financial data.
- Alfa offers key performance indicator extraction and email monitoring features, enabling automated data sourcing and important updates detection.
- The rise of agentic AI signifies a shift towards systems that can take autonomous actions in various industries, although enterprise adoption remains limited due to trust issues.
- While some businesses view autonomous AI optimistically, a trust gap among executives exists, hindering full-scale adoption as trust in decision-making processes is essential.
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Bloomberg Quint
1w
388
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Iran President Tells Tucker Carlson He’s Open To Talks With US
- Iran's President Masoud Pezeshkian expressed openness to talks with the US during an interview with Tucker Carlson.
- Pezeshkian mentioned difficulties in trusting Washington after recent strikes purportedly authorized by the Trump administration and carried out by Israel and the US on Iran.
- Iran launched missiles at a Qatari air base used by US forces in response to the attacks, and Pezeshkian emphasized the need for trust to restart negotiations.
- Iran suspended cooperation with the International Atomic Energy Agency but remains open to working with them after completing damage assessments.
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Bloomberg Quint
1w
401
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Trump Defends Bolsonaro As Trial On Coup Charges Looms
- Former U.S. President Donald Trump defends Jair Bolsonaro against coup charges in Brazil, accusing the country of politically persecuting the right-wing former president.
- Bolsonaro is set to face trial later this year on allegations of attempting a coup against President Luiz Inacio Lula da Silva after the 2022 election.
- Brazil's electoral court has prohibited Bolsonaro from seeking or holding public office for eight years, citing fake news dissemination about the electoral system.
- Trump's involvement in Bolsonaro's legal issues raises concerns of political instability in Brazil, influencing markets and potential interference with electoral and judicial processes.
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Bloomberg Quint
1w
200
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Tariffs Return: Trump Hits Japan, South Korea With 25% Import Levies
- US President Donald Trump has re-imposed 25% tariffs on Japan and South Korea, two key trading partners, effective from Aug. 1.
- If Japan and South Korea retaliate, additional tariffs will be added. Trump exempted South Korean and Japanese companies operating in the US from these tariffs.
- Earlier tariffs on Japan (24%) and South Korea (25%) were paused in April but have been reinstated now as a part of Trump's reciprocal levies policy, giving room for further negotiations.
- The decision to impose tariffs starting Aug. 1 suggests a possibility for continued negotiations with other trading partners to strike trade deals, as only China, the UK, and Vietnam have agreements in place so far.
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Bloomberg Quint
1w
389
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Bank of India Cuts Savings Deposit Rate
- Bank of India has reduced its savings deposit rate by 25 basis points to 2.5% in line with other banks.
- The bank also lowered the interest rate on green deposits, with a 999-day deposit now earning 6.7% instead of 7%.
- Following the RBI's repo rate cut, various banks including Canara Bank and HDFC have adjusted their Marginal Cost of Funds Based Lending Rates (MCLR) by reducing them.
- HDFC Bank recently adjusted its fixed deposit and savings account interest rates by 25 basis points, with the bank's MCLR ranging between 8.90% and 9.10%.
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Getfullyfunded
1w
25
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3 Ways to Empower Supporters to Fundraise for Your Cause
- Supporters can do more for your cause by becoming fundraisers themselves.
- 1. Host a Peer-to-Peer Fundraising Challenge with fun, urgency, and motivation.
- 2. Enable DIY campaigns for creative supporters to fundraise independently at any time.
- 3. Let supporters fundraise as a team to work collectively towards goals.
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Bloomberg Quint
1w
175
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Amazon Adds 30 New Delivery Stations, Eyes New Prime Day Record In India
- Amazon India adds over 30 new delivery stations across tier-2 and tier-3 cities like Panchkula, Mohali, Hubli, Howrah, and Indore ahead of Prime Day 2025, part of a broader investment to enhance operations network.
- Amazon aims to ensure seamless and on-time deliveries by expanding its infrastructure to reach more customers, with a focus on offering Prime's speed and convenience.
- Prime Day 2025 in India, scheduled from July 12 to 14, will be the largest yet, lasting 72 hours instead of 24, providing more shopping opportunities and deals for customers.
- Amazon has prepared for the event by enhancing AI, ML, and tech systems, as well as increasing fulfilment capacity to manage the expected surge in demand, reflecting a significant growth in Prime membership during this period.
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Bloomberg Quint
1w
170
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Can UAE Golden Visa Help In Tax Exemption? What Experts Say
- Residing in the UAE for more than 183 days makes an individual a UAE resident and subject to tax only on income earned in India, as per the India-UAE tax treaty.
- The golden visa in UAE does not change tax laws regarding income from the country of origin, but it offers opportunities for high-net-worth individuals to contribute to the UAE's economy and society.
- Under the UAE's new scheme, individuals can qualify for a golden visa with an investment as low as Rs 23.3 lakh, promoting engagement of high-net-worth individuals in UAE's development.
- Golden visas in UAE attract a diverse range of applicants, including high-net-worth individuals and entrepreneurs, aiming to expand their global presence with relatively easier eligibility compared to other nations' visa programs.
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Eu-Startups
1w
275
Amsterdam-based Biotech Booster receives €196.4 million to help Dutch innovations reach the market
- Biotech Booster, a Dutch valorisation programme, has been awarded €196.4 million from the National Growth Fund to accelerate biotechnological innovations until 2032.
- The funding ensures continuity for the programme and aims to strengthen the international position of the Dutch biotechnology sector.
- Biotech Booster offers financial support, mentoring, and networking opportunities to guide scientists and entrepreneurs from idea phase to market readiness.
- The programme supports various biotechnological focus areas such as Industrial Biotechnology, AgroFood Biotechnology, and Human Health, fostering collaborations between public and private partners.
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The Robot Report
1w
256
Attabotics lays off staff as robotic storage provider files for bankruptcy
- Attabotics Inc. recently laid off most of its employees and filed for bankruptcy protection.
- Attabotics was known for its NodeX ergonomic picking station for automated storage and retrieval systems.
- The company, founded in 2016, raised significant funding but faced financial challenges, including a net loss in 2024.
- Attabotics' bankruptcy filings revealed $32 million in assets, 160 patents, and liabilities of $73.5 million.
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