
Trump says BRICS would 'end quickly' if they ever form in a meaningful way
BRICS
group of nations and said the group would end very quickly if they ever form in a meaningful way.
"When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without naming the countries.
Explore courses from Top Institutes in
Select a Course Category
Leadership
MCA
Data Science
Finance
Cybersecurity
Technology
Management
Digital Marketing
Public Policy
Data Analytics
Others
PGDM
Data Science
Project Management
others
healthcare
Artificial Intelligence
Operations Management
MBA
Product Management
Healthcare
CXO
Degree
Design Thinking
Skills you'll gain:
Duration:
12 Weeks
IIM Kozhikode
CERT-IIMK EPIS Async India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
10 Months
IIM Indore
Executive Programme in Business Management
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
12 Months
IIM Kozhikode
Advanced Strategic Management Programme
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
18 Weeks
109820388
Strategic Marketing for Leaders: Leveraging AI for Growth
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
11 Months
IIM Lucknow
CERT-IIML SLP India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
12 Months
IIM Kozhikode
SEPO - IIMK CEO Programme India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
22 Weeks
Indian School of Business
SEPO - ISB Venture Capital & Private Equity India
Starts on
undefined
Get Details
Skills you'll gain:
Critical Thinking & Decision-Making Skills
Power of Emerging Technologies
Innovation and Drive Organizational Change
Fostering a Culture of Innovation
Duration:
9 Months
MIT xPRO
MIT Technology Leadership and Innovation
Starts on
May 14, 2024
Get Details
Skills you'll gain:
Duration:
12 Months
IIM Kozhikode
Senior Management Programme
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
10 Months
IIM Kozhikode
CERT-IIMK-Women Leadership Programme INDIA
Starts on
undefined
Get Details
Skills you'll gain:
Financial Accounting & Analysis
Financial Instruments & Markets
Corporate Finance & Valuation
Investment Management & Banking
Duration:
12 Months
IIM Kozhikode
IIMK Professional Certificate in Financial Analysis and Financial Management
Starts on
Mar 30, 2024
Get Details
Skills you'll gain:
Strategic Thinking & Planning
Competitive Advantage & Market Positioning
Strategic Leadership & Decision-Making
Change Management & Organizational Transformation
Duration:
1 Year
IIM Kozhikode
IIMK Advanced Strategic Management Programme
Starts on
Mar 30, 2024
Get Details
Skills you'll gain:
Opportunities & Outlining Plans to use AI & ML
Applying Data-Driven Business Innovation Best Practices
Changing Culture to Integrate AI-Enabled Technologies
Ethics, Privacy and Regulations in AI & ML
Duration:
20 Weeks
Indian School of Business
ISB Leadership in AI
Starts on
May 14, 2024
Get Details
Trump also said he was committed to preserving the dollar's global status as a reserve currency and pledged to never allow the creation of a central bank digital currency in America.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
18 minutes ago
- Mint
Nifty 50 wipes out last 1-year gains: More downside ahead or a rebound to record highs?
The Indian stock market is under significant selling pressure, with the benchmark Nifty 50 down nearly 1 per cent over the past year on concerns over an elusive India-US trade deal, unimpressive earnings, and sustained foreign capital outflow. While the index is still up about 4 per cent year-to-date, on a monthly scale, it has lost over 3 per cent in July so far, looking set to snap its four-month winning streak. On July 26, the Nifty 50 hit an intraday low of 24,598.60, extending losses to the fourth consecutive session. Meanwhile, the index hit its 52-week low of 21,743.65 on April 7 this year after hitting a record high of 26,277.35 on September 27 last year. After hitting a record high in September, the Nifty plunged due to heavy foreign capital outflow, stretched domestic market valuations, and weak India Inc. earnings. On a monthly scale, the Nifty fell for five consecutive months, from October 2024 to February 2025. The oversold market rebounded in March on valuation comfort, hopes of earnings revival, and healthy macroeconomic indicators. The domestic market remained resilient despite geopolitical conflicts, India-Pakistan tensions, and a trade war led by US President Donald Trump's tariff policies. But now, investors' risk appetite has turned weak amid a lack of fresh triggers, persisting concerns over Trump's tariffs, and weak earnings. "Currently, the market lacks strong triggers from two key perspectives. First, corporate earnings are largely in line with expectations and are therefore not sparking any significant momentum. Second, uncertainty surrounding an India–US trade deal persists, which is weighing on investor sentiment," said Pankaj Pandey, the head of research at ICICI Securities. The domestic market appears to be oversold, so a rebound in the near term is possible. However, sustainable gains are only possible if there is visible earnings growth. The head of research at ICICI Securities is optimistic that the worst may be over and the domestic market will see a healthy rebound in the second half of the year. "We continue to maintain our year-end target for the Nifty at 27,000. If there is no further rate cut, we expect earnings from the banking sector—one of the market's key drivers—to begin improving from Q3 onwards. This will boost the market," said Pandey. The IT sector is likely to remain subdued, while the consumption sector may see some recovery, supported by the festive season and the delayed benefits of income tax exemptions. "Overall, second-half earnings are expected to be stronger. By then, the impact of US tariffs may also start to be felt, potentially triggering relative positivity for emerging markets like India," said Pandey. One of the key reasons behind the Indian stock market's recent downtrend is sustained selling by foreign portfolio investors (FPIs). Experts pointed out that the US market has been resilient despite anticipations of tariff headwinds. This has kept FPIs in a selling mode in India. "In the US, the market is not showing any significant weakness. Contrary to earlier expectations, economic data remains strong. One possible reason is that pre-selling and inventory stocking may have occurred earlier in the cycle, and that inventory is still being consumed. As a result, the anticipated effects of higher inflation and slowing growth have not yet materialised," said Pandey. However, Pandey added that it is unlikely that such steep tariffs will be fully absorbed by the system. "In the second half of the year, as the US Fed has also indicated, inflationary pressures in the US are likely to rise. In that situation, FPIs may come to emerging markets like India," said Pandey. Some experts see another angle behind the FPI selloff. Rohit Srivastava, the founder and market strategist at believes the primary reason behind FPI selling is not short-term but long-term. "It is the introduction of long-term capital gains (LTCG) tax on foreign investors. Since the implementation of LTCG, net FPI inflows into India have declined noticeably. They haven't been major buyers the way they were prior to the tax regime change," Srivastava said. Srivastava said this trend doesn't appear to be linked to any specific year or earnings cycle. "Even when earnings were growing two years ago, FPIs were net sellers throughout the year. This suggests that the reason is not short-term, but structural and long-term in nature. Globally, FPIs tend to invest less in countries that impose withholding taxes. So, even if India remains fundamentally attractive, many funds stay away due to tax-related concerns," said Srivastava. Nevertheless, Srivastava believes the domestic market is oversold and the Nifty 50 may hit the 27,000 mark by the end of the year. "I don't see the Nifty falling below 24,500. The market appears oversold, and a rebound could begin at any time. Our year-end target remains unchanged at 27,000," said Srivastava. "On the downside, 24,500 serves as a strong support level, while on the upside, we see resistance at 24,994," Srivastava said. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

Time of India
18 minutes ago
- Time of India
Starmer Branded Cringe For 'Awkward' Long-Distance Video Call With Lionesses
UK PM Sir Keir Starmer mocked for his 'awkward' video call with the Lionesses. The UEFA Euro 2025 champions were hosted at 10 Downing Street, the residence of British PM, on Monday. However, missing from action was the Prime Minister himself during the celebratory reception. Busy with U.S. President Donald Trump, Starmer joined celebration virtually from Scotland. He congratulated the newly crowned football team and posted a video of the moment as well. But his virtual meet-up was met with mockery as netizens branded it cringe and 'more like AI'. Watch- Read More

Economic Times
18 minutes ago
- Economic Times
Market may inch upward gradually after digesting weak Q1 results, global noise: Neeraj Dewan
"These are the two or three key factors dragging the market. However, on the domestic front, the macro setup looks decent—monsoons have been good so far, interest rates remain low, and liquidity is improving. These factors should bode well for the second half of the year. The third and fourth quarters could see better performance," says Neeraj Dewan, Market Expert. ADVERTISEMENT First, your take on the markets—especially the earnings season. The IT sector hasn't surprised positively, and we've seen the market reaction. Within the banking pack, numbers from Axis Bank and Kotak Mahindra Bank haven't been very encouraging either. What's your take on the current market setup? Also, which sectors do you believe can still perform well? Neeraj Dewan: Yes, so far, the earnings have been quite mixed. As you mentioned, there has been disappointment in IT and banking numbers. Even some infrastructure companies haven't reported very encouraging results. June was expected to be a weak quarter, but even with those low expectations, the numbers have underdelivered, and that's something the market is reacting to. Secondly, the delay in the tariff settlement with the US is also weighing on market sentiment. I believe this will get resolved sooner or later. Another concern is the noise around Russian oil—if the US, possibly under Trump, decides to impose fresh sanctions, that could impact us. We've been benefiting from discounted Russian oil, so any disruption there would be a concern. These are the two or three key factors dragging the market. However, on the domestic front, the macro setup looks decent—monsoons have been good so far, interest rates remain low, and liquidity is improving. These factors should bode well for the second half of the year. The third and fourth quarters could see better after the ongoing market correction, I expect some constructive movement. The market should gradually move higher, now that results are in and we have clarity on interest rates, liquidity, and management commentary on order flows and execution. For instance, L&T's results today will be important to see if execution has picked up and what kind of order inflows they're reporting. ADVERTISEMENT Based on all this, we can build a constructive investment pitch for the rest of the year. Banking is one area I believe still has potential. While Kotak and Axis showed some stress pockets, there were also some positives—like Kotak suggesting MFI stress may have peaked. Bank credit should pick up, and once it does, the banking space should benefit. Valuations are still very attractive, especially for PSU NBFCs have also done well this quarter and could continue to perform. The infrastructure and capital goods sectors are also looking promising. As for IT, while the numbers weren't great, they weren't disastrous either. So the downside may now be limited, but it's still difficult to justify fresh buying at this point. It's better to wait and watch for now. ADVERTISEMENT How do you read the banking earnings? There seems to be a clear distinction—even among the large private banks—in terms of who's facing MFI pressure and who's not. For instance, Kotak's MFI book is small, but their commentary was quite cautious. IndusInd Bank had a muted quarter as well. It seems only ICICI Bank and HDFC Bank have managed to weather the storm. Neeraj Dewan: Yes, you're right. As you said, Kotak and Axis Bank numbers weren't great. But ICICI Bank did very well, and HDFC Bank also posted a reasonably strong set. PSU banks, in particular, are trading at very attractive valuations, and their books are was concern this quarter around NIM pressure and MFI stress, and these issues were visible in the reported numbers. But going forward, I believe MFI-related stress may subside as liquidity in the system improves. If we enter the festive season with a good monsoon and favorable economic conditions, that could ease some of the current concerns. ADVERTISEMENT As for NIM pressure—this is a common occurrence when interest rate cycles reverse—but as credit demand picks up, this should also ease. So while this quarter's results were mixed, I remain positive on the banking space looking ahead. The big question is—do you buy the recent declines in stocks like Axis and Kotak, or in midcap banks generally, or do you stick with the sector leaders? Neeraj Dewan: For now, it's better to stick with the leaders. I'm a bit cautious on Axis Bank given its recent results and concerns around asset quality. I would prefer to watch a few more quarters before taking a call there. ADVERTISEMENT Kotak Bank, despite disappointing numbers, may be the better of the two. If you see a meaningful decline in Kotak Bank, it could be considered, especially given their strong track record—even during the RBI embargo period, they managed well and bounced back strongly. But otherwise, I'd recommend sticking with leaders like ICICI Bank, which has posted a strong set of numbers. I also continue to like PSU banks due to the comfort in their valuations. If credit demand improves, they stand to benefit meaningfully because of the levels at which they're currently trading. (You can now subscribe to our ETMarkets WhatsApp channel)