UK Prime Minister Keir Starmer announced the resumption of Free Trade Agreement negotiations with India in early 2024. The decision, following a meeting with Indian Prime Minister Narendra Modi, aims to bolster the countries' bilateral trade partnership, which is currently valued at approximately GBP 42 billion annually.
The Reserve Bank of India has instructed banks to reduce their long positions on the USD/INR pair to curb speculation against the weakening rupee. This move comes amidst record lows for the rupee, fueled by factors like foreign investor selling and a strengthening dollar.
Delta and United have become the most profitable U.S. airlines by targeting premium customers while also winning back a significant share of travelers on a tight budget.
Sebi has granted Roshni Nadar an exemption from making an open offer for her proposed acquisition of shares in HCL Tech's promoter entities. This move facilitates smoother succession planning within the Nadar family. The transaction is a non-commercial transfer between immediate relatives, exempting it from the open offer requirement.
The Nifty gained 375 points over the week to close at 23,907. A smart comeback by the bulls in the second half of this week helped the market recover almost the entire loss registered in the first half.
Sebi has proposed engaging independent external agencies to identify suitable candidates for the appointment of key management personnel at market infrastructure institutions. The NRC will evaluate these recommendations and send them to the governing board and Sebi. The aim is to ensure independence, transparency, and accountability in key managerial appointments. Sebi also proposes a cooling-off period for KMPs and directors to prevent conflicts of interest.
