Sebi has eased compliance norms for Foreign Portfolio Investors (FPIs) investing solely in government securities under the fully accessible route. These GS-FPIs are now exempt from providing investor group details and certain disclosure requirements. The move aims to attract greater long-term foreign investment into India’s sovereign debt market by simplifying procedures.
The US Senate committee has approved Donald Trump’s nominee, Stephen Miran, for the Federal Reserve board. Democrats are worried about Miran’s loyalty to Trump. They fear he might not resign from his White House post if confirmed. Miran’s short Fed term ends in January 2026. His decisions could be influenced by his desire to return
Swedish company Klarna made its debut on the New York Stock Exchange. Shares of the buy-now-pay-later firm jumped 30% after opening. The IPO was priced at $40, but shares opened at $52. The company sold over 34 million shares, raising $1.37 billion. Klarna’s CEO, Sebastian Siemiatkowski, sees a big opportunity in the US market.
Fitch Ratings reports a US economic slowdown, projecting a deceleration from 2.8% in 2024 to 1.6% in 2025 and 2026. Consumer spending and government expenditure are weakening, while the labor market shows signs of softening with reduced job creation. Despite tariff impacts on inflation, the Fed is expected to ease policy with rate cuts.
The European Union is unlikely to impose hefty tariffs on India and China for purchasing Russian oil, despite suggestions from the US. The EU, while aligning Russia sanctions with the US, prefers targeted measures over broad tariffs.
The European Union has approved 102 additional Indian marine establishments for exports, potentially increasing shipments by 20%. This decision, coinciding with FTA negotiations, signals growing confidence and improved standards. It offers relief to India’s shrimp sector amid US tariff challenges and strengthens the EU’s position as a key seafood export market.
ITR filing FY 2024-25: The Income Tax Department has extended the ITR filing deadline for AY 2025-26 to September 15, 2025, for non-audit taxpayers. This extension, from the usual July 31st, accommodates changes in ITR forms. Taxpayers are advised to file before the deadline to avoid penalties, including late fees up to Rs 5,000 and
Wall Street experienced mixed trading as investors awaited crucial US inflation data and Apple’s product launch, where a new iPhone model was anticipated. The Dow Jones Industrial Average rose, while Nasdaq saw a slight decline. Markets are closely watching producer and consumer price data ahead of the Federal Reserve’s policy decision, with expectations of an
Revised government figures reveal the US job market was significantly weaker than initially reported between April 2024 and March, with 911,000 fewer jobs created. This news, coupled with a weak August jobs report, intensifies concerns about the economy under President Trump’s policies. Pressure is mounting on the Federal Reserve to respond to the revised data.
India aims to boost textile exports to 40 nations, targeting a $600 billion market, after the US imposed a 50% tariff on Indian goods. The government plans to leverage existing free trade agreements to enhance its global market share.
