The United States will not extend to India the kind of sweeping economic concessions it once granted China, said Deputy Secretary of State Christopher Landau on Thursday, claiming that those incentives allowed China to emerge as a rival.Speaking at the Raisina Dialogue, India’s flagship conference on geopolitics and geoeconomics, Landau made it clear that while…
BENGALURU: State-run defence electronics major Bharat Electronics Limited (BEL) has signed a memorandum of understanding with space technology startup Bellatrix Aerospace to jointly design, develop and manufacture satellite systems and payloads, with a focus on the emerging very low Earth orbit (VLEO) regime.“The agreement aims to combine BEL’s experience in mission-critical electronics and defence payloads…
US stock markets fell on Thursday as investors turned cautious after the previous session’s rally, while rising oil prices and geopolitical tensions weighed on sentiment.The Dow Jones Industrial Average dropped 801 points, or 1.6 per cent, dragged down by losses in stocks such as Caterpillar and Goldman Sachs. The S&P 500 declined 0.9 per cent,…
Veteran investor Howard Marks said he doesn’t see a widespread problem brewing in private credit, but warned that the sector’s rapid expansion over the past 15 years could expose weaker lenders when markets eventually turn. “There’s not a systemic problem with private credit,” Marks, co-chairman and co-founder of Oaktree Capital, said Thursday on CNBC’s “Money…
The average long-term US mortgage rate edged higher this week, ending a three-week decline as bond yields rose amid oil-price pressures linked to the war with Iran.The benchmark 30-year fixed mortgage rate increased to 6% from 5.98% last week, mortgage buyer Freddie Mac said on Thursday. A year ago, the average rate stood at 6.63%,…
French authorities arrested John “Lick” Daghita, who allegedly stole tens of millions in crypto from the U.S. government. In an X post on Thursday, FBI Director Kash Patel confirmed Daghita had been arrested on Wednesday on the island of Saint Martin in a joint FBI and French Gendarmerie operation. In his social media post, Patel…
NEW DELHI: The BJP is on the threshold of a historic first in Bihar. After a long wait – spanning first the Lalu era and then the Nitish era in Bihar – the saffron party is all set to get its first chief minister in the state. This follows JD(U) chief Nitish Kumar’s “voluntary decision”…
Berkshire Hathaway CEO Greg Abel said he still speaks with Warren Buffett nearly every day, underscoring the continued presence of the legendary investor at the sprawling conglomerate, even after handing over the top job at the start of the year. Buffett, who stepped down as CEO after more than six decades at the helm, remains…
Rising tensions in West Asia and the possibility of disruption to shipping through the Strait of Hormuz could pose a serious threat to India’s tea exports to key Gulf markets, industry representatives have warned.The Tea Association of India said a large share of the country’s tea shipments to the Persian Gulf region moves through the…
The first phase of bitcoin’s BTC$72,504.45 recent drawdown has not triggered panic among institutional investors, according to crypto asset management firm CoinShares. Professional allocators reduced exposure modestly but largely maintained their positions compared with last year. Advisors trimmed holdings while hedge funds scaled back alongside the broader leverage unwind and shifting opportunities in other markets,…
