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1 / 14Indian equities ended weak, but S&P500’s biggest gain since Nov 2022 overnight could rub off: Equity benchmark indices Sensex and Nifty closed nearly a percent down on Thursday after the Reserve Bank of India decided to keep the policy rate unchanged for the ninth time in a row and termed food inflation “stubborn”. However, global cues may offer support today.
2 / 14RBI keeps a hawkish eye on inflation, leaves interest rates unchanged: The Reserve Bank of India’s (RBI’s) August policy forecast shows that inflation will get worse in the next four to five months before it gets better. In the third bi-monthly monetary policy address on August 8, RBI Governor Shaktikanta Das pointed out that if the persistently high food inflation and unanchored inflation expectations materialise, it could lead to spillovers to core inflation through pick-up in wages on cost-of-living considerations.
3 / 14RBI warns on liquidity, growth in unsecured loans and top-ups on home loans: The Reserve Bank of India (RBI) is pushing for a further decline in unsecured loans. While speaking to media after making Monetary Policy Committee (MPC) announcement, RBI Governor Shaktikanta Das cited potential risks to financial stability if these loans are not carefully managed. By urging banks and non-banking financial companies (NBFCs) to exercise caution, the RBI aims to ensure that personal loans are not diverted towards speculative activities or misused.
4 / 14Your cheque could be cleared in a few hours vs 2 days, if RBI has its way: The Reserve Bank of India (RBI) has proposed the establishment of a new cheque-clearing mechanism. The initiative, revealed by RBI Governor Shaktikanta Das during Monetary Policy Committee (MPC) announcements, is set to reduce the time required for cheque clearing to just a few hours, within the same day.
5 / 14FirstCry IPO subscribed near 12x; OLA Electric to list today: The initial public offering (IPO) of Brainbees Solutions, which operates omnichannel businesses of kidswear under the brand name FirstCry, managed to sail through, achieving a 12.22 times subscription on the third and final day of the bidding process. Meanwhile, Ola Electric shares are set to make it to Dalal Street today.
6 / 14India allows visa on arrival for tourists from UAE, Japan, South Korea (Pakistan nationals excluded): The government of India has announced that tourists from Japan, South Korea, and UAE will get visa-on-arrival for tourism, business-related conferences and medical treatment. The service has been launched at six cities and travellers can get visa-on-arrival at Bengaluru, Chennai, Delhi, Hyderabad, Kolkata and Mumbai. (Image: Shutterstock)
7 / 14Harish Salve to represent Vinesh Phogat at CAS; Phogat announces retirement: after repeated requests, senior advocate Harish Salve has agreed to represent Vinesh Phogat at the Court of Arbitration for Sports. This decision comes as the Indian contingent scrambles to secure top legal representation for the hearing, which has now been rescheduled to 10 AM local time tomorrow (1:30 PM IST).
8 / 14Neeraj Chopra settles for an Olympic silver in javelin: Neeraj Chopra settled for the silver medal at the Paris Olympics by securing an attempt of 89.45 meters in the finals of the men’s javelin throw event on Friday. Pakistan’s Arshad Nadeem notched the top spot with a 92.97 meters throw, whereas Anderson Peters of Granada bagged the bronze with his 88.54 meters attempt. (AP Photo/Lee Jin-man)
9 / 14US stocks jump as softer jobs data cools recession fears; US initial jobless claims at 233,000 vs est of 240,000: US markets clawed back some of the losses from earlier in the week following new labor market data that boosted investor confidence. The S&P 500 surged over 2.3% to notch its best single-day gain since November 2022. The Dow Jones surged nearly 700 points, while the Nasdaq gained nearly 3%.Latest weekly jobless claims came in below forecast, helping allay some concerns on the strength of the labor market.
10 / 14US credit card debt has hit a record $1.14 tn: Collectively, Americans owe a record $1.14 trillion on their credit cards, according to a new report from the Federal Reserve Bank of New York, according to CNBC International. As credit card debt mounts, young adults, who are likely renters with less of a financial cushion than their elders, are increasingly falling behind.
11 / 14Trump argues US Presidents should have more say in Federal Reserve’s monetary policy: Republican candidate Donald Trump said on Thursday that U.S. presidents should have a say over decisions made by the Federal Reserve, the most explicit indication so far of his interest in infringing on the central bank’s independence should he regain the White House. (Image: Reuters)
12 / 14Moody’s downgrades Intel’s secured, unsecured rating: Moody’s downgraded Intel’s senior unsecured rating on Thursday to BAA1 from its earlier A3 rating, citing concerns about the chipmaker’s profitability.The unsecured ratings outlook has been changed to negative from stable, Moody’s said. It affirmed Intel’s Prime-2 short-term commercial paper rating, according to media portal CNA.
13 / 14Amazon inks deal for Tik Tok users to shop without leaving the Tik Tok app: Amazon.com Inc. has inked partnerships with TikTok and Pinterest Inc. that lets users buy products from the e-commerce company without leaving the social media apps. Users can link their profiles from TikTok and Pinterest to their Amazon accounts and then buy products directly from ads. The initiative is designed to make it more convenient for customers to shop on social media, an Amazon spokesperson said Thursday in a statement.
14 / 14Muhammad Yunus takes oath as interim leader of Bangladesh: Nobel laureate Muhammad Yunus, 84, was sworn in on Thursday, August 8, as the head of Bangladesh’s interim government. The oath was administered by President Mohammed Shahabuddin during a ceremony at the presidential palace, Bangabhaban.
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