The government is planning to establish multi-disciplinary partnership (MDP) firms to rival global consulting and auditing giants like PwC and Deloitte. An Inter-ministerial Group has been formed to develop this ecosystem, aiming to strengthen Indian firms and reduce reliance on multinational corporations. Stakeholders are invited to share their views on the proposal by September 30.

The EU is considering imposing tariffs on Israeli goods and sanctioning individuals, including ministers Ben-Gvir and Smotrich, to pressure Israel to end the Gaza war. EU foreign policy chief Kaja Kallas seeks support from the bloc’s 27 countries, citing human rights concerns and the need for a ceasefire.

The US Federal Reserve, led by Jerome Powell, has announced a 25 basis points rate cut, setting the federal funds rate to a range of 4 to 4-1/4 percent. This decision comes amidst concerns about moderating economic growth, slowing job gains, and persistent inflation slightly above the 2% target.

Flagging risks of slowing economic growth and job gains, the US Federal Reserve cut rates by 25 basis points. US is the world’s largest economy and any benchmark rate movement by its central bank has global implications. Will the US Federal Reserve’s decision to cut rates spur a rally or will Nifty50 and BSE Sensex

Eternal, formerly Zomato, has surpassed Tata Motors and Titan in market capitalization, reaching Rs 3.13 lakh crore and entering the top 25 Nifty50 firms. Driven by Blinkit’s strong revenue momentum, Eternal’s stock has gained 72% from its 52-week low. While Q1 saw a profit decline, investor confidence remains high, propelling the stock’s rise by 1.19%

Global investors are showing renewed interest in China’s stock markets. They are focusing on AI, semiconductors, and biotech sectors. A US-China tariff pause and supportive policies are boosting confidence. Hedge funds are returning, seeking diversification. Despite economic concerns, China is seen as a standalone asset class. Allocators are planning visits to explore opportunities.

ITR filing FY 2024-25 due date: The Income Tax Department does not seem to have extended the ITR filing deadline for Assessment Year 2025-26, meaning returns filed after September 16 will be considered belated. While the initial deadline was extended to September 16 due to portal issues, no further extensions have been granted despite ongoing