At the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Chinese President Xi Jinping urged the region to promote free trade in the face of "rising protectionism." Xi emphasized the importance of removing barriers to trade, investment, technology, and services to maintain a stable industrial supply chain, according to Chinese state media.
RBI Governor Shaktikanta Das stated that the Indian economy and financial sector are in a strong position. India's external sector is robust, and the current account deficit remains manageable. Das highlighted India's significant foreign exchange reserves. He acknowledged the presence of inflation but expressed confidence in its moderation.
McDonalds is investing $100 million to bring customers back to stores after an outbreak of E. coli food poisoning tied to onions on the fast-food giants Quarter Pounder hamburgers.
Over the past week, the benchmark index fell by about 2.4%, while the BSE Smallcap index plunged 4.6%. Amid significant smallcap losses, ETMarkets identified the top 15 smallcap stocks that dropped the most, with declines ranging between 15% and 25% during the sell-off.
Oyo's shares are currently trading at a discounted valuation despite the company reporting strong financial performance and projecting significant EBITDA growth. Investors are closely monitoring the market and anticipating a successful IPO in the future, driven by Oyo's impressive profitability and recent acquisition of G6 Hospitality.
Elon Musk, a billionaire entrepreneur, is known for his extreme cost-cutting measures. He implemented these strategies at Tesla, SpaceX, and Twitter. Musk's methods often involved mass layoffs, cutting perks, and negotiating lower prices from vendors. He will now apply his cost-cutting approach to the US government as head of the Department of Government Efficiency.
Samir Arora cautioned investors not to get overly excited by CLSA's increased allocation to India. He believes that investors were shifting to the US, not from India to China. He also suggests that the India-to-US trade shift has likely played out, with the opportunity to profit from this trend now missed.
