FIRST GLOBAL
![IndiaFirst Life becomes first Indian life insurer to commence operations in GIFT City](https://img.etimg.com/thumb/msid-112873596,width-100,height-75,resizemode-4/industry/banking/finance/insure/indiafirst-life-becomes-first-indian-life-insurer-to-commence-operations-in-gift-city.jpg)
IndiaFirst Life becomes first Indian life insurer to commence operations in GIFT City
IndiaFirst Life has become the first Indian life insurer to start operations in Gujarat International Finance Tec City (GIFT City). The company has inaugurated its IFSC Insurance Office to offer foreign currency-denominated life insurance solutions. IndiaFirst Life aims to expand its reach to international customers with a specially designed ULIP product for global Indians.
![Everything is in a bubble, only precious metals are relatively safe: Marc Faber](https://img.etimg.com/thumb/msid-112811522,width-100,height-75,resizemode-4/markets/expert-view/everything-is-in-a-bubble-only-precious-metals-are-relatively-safe-marc-faber.jpg)
Everything is in a bubble, only precious metals are relatively safe: Marc Faber
Marc Faber, author of The Gloom, Boom & Doom Report, highlighted that everything, including FAANG stocks and collectibles, is inflated. He predicted negative returns on US equities in real terms over the next seven years and suggested investing in precious metals to maintain purchasing power. He advised focusing on capital protection rather than high returns.
![Visa applications in India surpass pre-pandemic volumes in first half of 2024](https://img.etimg.com/thumb/msid-112796875,width-100,height-75,resizemode-4/nri/visit/visa-applications-in-india-surpass-pre-pandemic-volumes-in-first-half-of-2024.jpg)
Visa applications in India surpass pre-pandemic volumes in first half of 2024
In the first half of 2024, visa applications in India surpassed pre-pandemic levels for the first time since COVID-19, exceeding H1 2019 volumes by 2%, with an 11% increase from the same period in 2023, according to VFS Global.
![US India's top trade partner in first half of the year; max deficit with China](https://img.etimg.com/thumb/msid-112747981,width-100,height-75,resizemode-4/news/economy/foreign-trade/us-indias-top-trade-partner-in-first-half-of-the-year-max-deficit-with-china.jpg)
US India's top trade partner in first half of the year; max deficit with China
The United States emerged as India's leading trading partner in early 2024, although the country experienced a record trade deficit of $41.6 billion with China. India's merchandise exports increased by 5.41%, led by sectors such as iron ore and pharmaceuticals, while services exports grew by 6.9% to $178.2 billion, says GTRI.
![Jackson Hole Symposium to lay groundwork for this cycle's first rate cut: James Knightley](https://img.etimg.com/thumb/msid-112729610,width-100,height-75,resizemode-4/markets/expert-view/this-years-jackson-hole-symposium-to-lay-groundwork-for-this-cycles-first-rate-cut-james-knightley.jpg)
Jackson Hole Symposium to lay groundwork for this cycle's first rate cut: James Knightley
James Knightley of ING suggests the Federal Reserve might reveal more about its interest rate strategy at the Jackson Hole Symposium. Despite expectations for a September rate cut, concerns over data quality persist, raising questions about economic growth. Markets anticipate a possible rate cut based on recent economic data revisions and global economic uncertainties.
![CAD to be higher in FY'25 on higher domestic demand and global prices](https://img.etimg.com/thumb/msid-112549930,width-100,height-75,resizemode-4/news/economy/indicators/cad-to-be-higher-in-fy25-on-higher-domestic-demand-and-global-prices.jpg)
CAD to be higher in FY'25 on higher domestic demand and global prices
India's economy has been growing at an average of 8 percent for the last three years at a time when major advanced economies are seeing a slowdown in growth. Though not the entire growth over the period is consumption driven, of late consumption demand is seen picking up and a sizable portion of this demand is met through imports either through import of the product or raw materials.
Foreigners turn short Indian shares for first time in two months
Foreign investors have shifted their stance on Indian shares, driven by volatility, lackluster earnings, and a surprise tax hike on equities. They became net sellers, offloading nearly $2 billion worth of stocks in August, after a period of buying in June and July. The NSE Nifty 50 Index still trades at high valuations despite recent dips.
Decoding growth engines for 2047: Does India need another industrial revolution?
In a discussion with ET Now, Gurcharan Das and Siddhartha Sanyal emphasized the need for an industrial revolution for India to become a developed nation by 2047. They highlighted the critical role of manufacturing, combined with agriculture and services, in creating jobs and driving economic growth. The conversation also noted India's progress in export value chains.
Sweden reports 1st case of more infectious form of mpox first identified in Congo
The Swedish public health agency said in a statement the patient recently sought health care in Stockholm. "In this case a person has been infected during a stay in the part of Africa where there is a major outbreak of (the more infectious mpox)," the agency said.
Oyo reports first-ever PAT of Rs 229 crore
OYO Net Profit: Oyo announced its first-ever profit after tax of Rs 229 crore for FY24, driven by consecutive growth in Adjusted EBITDA. The company expanded globally, notably in Europe and the US. Acquisitions included Paris-based Checkmyguest group. Oyo's inventory increased significantly, reaching 18,103 hotels by the end of FY24.
Central bankers have bowed to market; yen carry trade may come back with a bang: Ritesh Jain
Ritesh Jain, a global macro trader, stated that central bankers have overreacted and decided not to raise interest rates due to market volatility, which may revive the yen carry trade. Jain also noted that long-term global economic trends and structural changes continue to favor India, supported by consistent investment flows, despite short-term market fluctuations.
Stay invested, go for defensives or companies with high earnings certainty now: Pawan Parakh
Pawan Parakh from Geojit Financial Services noted that ongoing geopolitical tensions could have prolonged effects. He advised investors to focus on defensive stocks or companies with high earnings certainty, given the high valuations and market volatility. Parakh highlighted pharma as a key sector due to structural tailwinds and suggested caution in agrochemicals due to uncertainties in China.
Will US slowdown fears impact overall global growth? Khoon Goh answers
There are a lot of people putting a focus on the Sahm rule that has been triggered, but this is the first time we will see whether or not it really does lead to a recession as what the historical backtesting suggests.
Bull market correction: Accelerated Fed rate cuts from Sept may see unwinding in EMs, carry trades, says Pankaj Murarka
Pankaj Murarka, CIO of Renaissance Investment Managers, highlighted a potential shift in global markets due to expected US Federal Reserve rate cuts. He suggested market corrections and sectoral rotations might follow. Despite global uncertainties, Murarka expressed optimism about India's market fundamentals and identified long-term opportunities in sectors such as IT, healthcare, and commodities.
Early investors to gain big in FirstCry, Ola Electric, Unicommerce IPOs
As new-age companies FirstCry and EV maker Ola Electric are set to hit the bourses, investors who took the bets on these companies at the right time, are looking at multi-bagger returns. Those poised to cash in include SoftBank, Tiger Global, Mahindra & Mahindra and Matrix Partners India.
Funding cycles come and go; great teams persist, compound value for shareholders: FirstCry’s Supam Maheshwari
Ahead of the Rs 4,188-crore FirstCry IPO, cofounder and CEO Supam Maheshwari spoke to ET about the pricing of the issue, building a hybrid online & offline brand and more. Maheshwari said the investor response has been optimistic, adding that the company is bringing something valuable to public market investors and institutional investors.
ETMarkets Smart Talk: Rupee likely to appreciate against the USD by March 2025: Garima Kapoor
If you look at the internals of the numbers, the fact that they consolidated 20 basis points more than the interim budget, they gave up about close to Rs 500 billion worth of space they were spending. Further, the projection for GDP at 10.5% growth is a tad below what most would have expected.
This could be the year of consumption; FMCG & IT preferred sectors: Seshadri Sen
Seshadri Sen of Emkay Global revealed their strategic shift to FMCG and IT sectors, emphasizing strong earnings growth and attractive valuations. They also identified opportunities in energy and auto sectors. Despite some valuation concerns, mid and small-cap stocks are expected to perform well, though investors are advised to be cautious about valuations.
Seeing a return of risk on trade in global markets: Mihir Vora
So, to that extent we are seeing a bit of a return of the risk on trade in the global markets. We have the Fed meeting this week. People are expecting some dovishness out there. So, I think a kind of environment of a little bit of risk on is being set up globally and we are benefiting from that.
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