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JBM auto to enter global e-bus mkt with first launch in Germany next month
Puja Das Delhi
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JBM Auto, a $3 billion global Indian conglomerate, is preparing to enter the international electric bus (e-bus) market with its first launch of a city bus, Eco-life, in Germany this month, said vice-chairman and managing director Nishant Arya.
The launch comes at a time when India and the European Union (EU) are negotiating a free trade agreement (FTA), anticipated to conclude by the end of this year.
JBM plans to launch several global products in regions, including North America, South America, Southeast Asia, the Asia Pacific, West Asia, and African countries this year.
With entering Germany, the Indian automaker plans to
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First Post
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- First Post
WATCH: Trump, Putin exchange greetings in Anchorage, share rare private ride ahead of talks
In a video shared by ANI news agency, the two leaders are seen exchanging pleasantries before Putin joins Trump in his presidential limousine, departing the tarmac together en route to their summit venue US President Donald Trump and Russian President Vladimir Putin exchange pleasantries at a military base in Alaska ahead of their talks on Friday. ANI US President Donald Trump and Russian President Vladimir Putin on Friday met with a handshake and warm greetings at a military base in Alaska, marking the start of their much-anticipated summit aimed at addressing Moscow's ongoing war in Ukraine. #WATCH | Alaska, USA | US President Donald Trump and Russian President Vladimir Putin exchange greetings in Anchorage, ahead of their talks. Source: Reuters — ANI (@ANI) August 15, 2025 STORY CONTINUES BELOW THIS AD In a series of videos shared by ANI news agency, the two leaders are seen exchanging pleasantries before Putin joins Trump in his presidential limousine, departing the tarmac together en route to their summit venue. #WATCH | Alaska, USA | US President Donald Trump and Russian President Vladimir Putin share the same car to reach the venue for their talks. Source: Reuters — ANI (@ANI) August 15, 2025 #WATCH | Alaska, USA | US President Donald Trump and Russian President Vladimir Putin hold talks in Anchorage, focused on the Russia-Ukraine war. Source: Reuters — ANI (@ANI) August 15, 2025 STORY CONTINUES BELOW THIS AD According to a CNN report, the move is unusual, particularly for an adversary. When Trump wanted North Korean dictator Kim Jong Un to join him in his car during their meeting in Singapore in 2018, aides talked him out of it, added the report. But this is a different chapter for Trump, marked by new advisers and shifting goals. Although their face-to-face meeting now includes key aides, the fact that Trump and Putin shared a private car ride suggests they will still have a moment alone — even if brief. The Trump-Putin talks are drawing intense global attention — especially from European nations and Ukrainian President Volodymyr Zelenskyy, who was not included in the meeting and has firmly rejected pressure from Trump to concede territory seized by Russia. With inputs from agencies
The Hindu
a minute ago
- The Hindu
Taking the bull by its horns
Mumbai's finance community often comes together in ballrooms of five-star hotels and valorises the Indian investor. The financially influential community often speaks in words tinged with nationalistic pride about the continuous increase in registered investors. In 2024-2025, up to 2.09 crore Indians were registered as investors. This number was just 38.5 lakh in 2019-20, before the pandemic. That's a five-fold increase. The suit-clad mutual-fund managers and stock analysts say that this is a reflection of the average Indian's trust in the potential of the nation. Terms like 'financial inclusion' and 'economic democratisation' are often used. In July 2025, the Securities and Exchange Board of India (SEBI), which regulates the capital markets, alleged that Jane Street, an American trading firm, had manipulated the derivatives market, a segment of the financial market. Derivatives are a set of financial products that lock the prices of stocks or indices (groups of stocks such as Nifty 50), for a future date. SEBI halted Jane Street's operations until it paid ₹4,843.7 crore, the profit that the firm had allegedly made. Now, the matter is under investigation. India is the largest derivatives market in the world. In June this year, Reuters quoted the Futures Industry Association as saying that the country 'made up nearly 60% of global equity derivative trading volumes of 7.3 billion in April'. It also said that at least six global trading giants 'are ratcheting up their presence' in India. In September 2024, SEBI brought out a report stating that the aggregate losses from 2022-2024 in the derivatives market were to the tune of ₹1.8 lakh crore. 'Despite consecutive years of losses, more than 75% of those who lost continued trading in F&Os (futures and options, a part of the derivatives market),' the report stated. While there are many reasons for this, analysts say that people look at F&Os for quick returns, since the contracts expire on a weekly or monthly basis, unlike stocks, which are long-term investments. Pump and dump Jane Street, which began operations in 2000 in New York, had a net trading revenue of $10.4 billion as of June 2025, as per Bloomberg, the business news network. Its website claims to have five offices and over 3,000 employees, trading in 45 countries (India is not listed). Nuvama Wealth Management was a company executing Jane Street's trade in India. It is now under the scanner of the Income Tax Department. In April 2024, SEBI carried out an analysis of 'the alleged unauthorised use of their (Jane Street) trading strategies in Indian options markets' and asked the National Stock Exchange to monitor it. Later that year, SEBI issued a circular announcing a series of policy steps to address problems in the derivatives market. These included overtrading in index options on expiry days (Thursdays). Options are financial contracts, a type of derivative. The buyer is simply purchasing the 'option' to buy an underlying asset at a fixed date at a certain price. 'Call options' expect prices to rise, and 'put options' expect prices to fall. SEBI alleged that Jane Street pumped up the price of Bank Nifty — which consists of stocks of 12 large banks — by buying them in the morning. Seeing this, other traders would also buy in, further pushing up the price. The company would simultaneously buy put options on the same stocks/index, which other traders were unaware of. Towards the end of the day, Jane Street would dump the stocks, profiting from the resultant fall. Complexity and drive The complexity of the derivatives market makes it difficult to navigate even for professional traders like Preeti K. Chhabra, founder of Surat-based Trade Delta, a trading firm. 'After having studied the entire subject thoroughly, and trading for nearly one and a half years, I realised that this is a game where nobody knows 100%,' says Chhabra, who started her derivatives trading firm in 2018-19 after almost two decades of working in stock brokerages. Ms. Chhabra began with a capital of ₹90 lakh and lost about half of it in the first few months, she says. Following the loss, she took a year's break to understand the instrument better before she got back to it. She is among the many traders in India who execute futures and options trades for their clients. Social media platforms and even messaging apps like Telegram are rife with futures and options courses for children. In fact, on the days when the Bank Nifty dipped, analysts online gave different reasons for this, not citing possible market manipulation, SEBI said, in its order. Financial influencers are major contributors to financial market education and investment. Street oversmart With a spurt in online trading apps, which charge low commissions, during COVID-19 in 2020, many, including the youth, began accessing financial markets. The entry of new investors at this time drove a bull rally that lasted about four years before the slump to current levels began in September 2024. Bodies like the Association of Mutual Funds in India (AMFI) say that increasing financial literacy and awareness is the reason behind the proliferation. The awareness of financial instruments, however, does not translate into an understanding of markets. In its 2024 report, SEBI said that 43% of the people who had lost money were below the age of 30, and 93% of the people in this age group lost money trading in derivatives. Akshay Chinchalkar is the head of research at Axis Securities and actively writes on the professional-networking platform LinkedIn about market trends. He feels that there is too much information out there, which makes it difficult to separate the knowledge from the noise. 'It makes us ponder whether the sheer volume of analysis directly leads to consistent, profitable F&O trading for everyone,' he says. The Association of National Exchanges Members of India said in early August that it's studying ways of helping people move away from derivative trading. One of the suggestions they made was to increase the barriers to entry, so that uninformed or undercapitalised traders don't lose on a gamble. Markets like South Korea and Singapore have such barriers, the association said at a media briefing. SEBI has taken certain measures to control the enthusiasm, like doing away with weekly expiries of derivative contracts for all indices except the main Nifty 50 and the 30-stock Sensex, expecting that this would reduce speculatory trading. This means that contracts need to be held for longer periods in all other indices. However, a SEBI study showed that 91% of individual traders continued to lose money even after reforms. This was down from 93% before the Jane Street episode.
The Hindu
a minute ago
- The Hindu
Accidents with elderly at the wheel reignite push for age-based restrictions
Two road accidents in Hyderabad involving motorists in their 80s have renewed calls for stricter checks on elderly drivers, with road safety experts warning that declining reflexes and vision can turn them into a hazard on busy urban roads. On July 4, an 88-year-old man lost control of his sedan on the curve after the ISKCON temple, heading towards YMCA in Gopalapuram. He struck multiple vehicles before being stopped by bystanders, injuring a woman. Police booked him under Sections 279 and 337 of the BNS Act for rash and negligent driving. Earlier, an 84-year-old retired IPS officer, who served as inspector general of police before retiring in 2000, fatally ran over a class IX student on the Ramakrishnapuram flyover near Neredmet. The boy died on the spot, prompting criticism from activists over why he was still permitted to drive. Under the Motor Vehicles (MV) Act, there is no maximum age limit for driving. However, those over 50 must submit a medical fitness certificate for licence renewal, valid for five years. Road safety experts say this system fails to account for rapid changes in health among those in their 70s and 80s. 'Elderly people driving on roads have become hazardous for other road users as their vision and muscle strength are not enough to try on Indian roads and we do not have that infrastructure,' says. Vinod K. Kanumala, founder & chief functionary, Indian Federation of Road Safety. 'Many accidents are taking place but are ignored because of their age. At this age, old people are very rude if something happens on the road. I have personally experienced it. This has to be addressed at the earliest, as speed and traffic volume have increased. The maximum age limit should be 70 or 75, after which the licence must be cancelled,' he adds. A Road Transport Authority official, speaking anonymously, called overage driving a blind spot in enforcement. 'In cities like Hyderabad, we routinely encounter elderly drivers navigating chaotic traffic with limited reflexes and declining eyesight,' the official said. While countries such as the United Kingdom and Japan require older drivers to undergo regular cognitive and vision checks, in India, the responsibility is largely left to drivers and their families. 'We are not saying senior citizens should not drive,' says Praveen Kumar, a road safety expert from Hyderabad. 'But there must be stricter recurring checks for those above 75.' Police said the vehicles in both Hyderabad accidents were properly registered and the drivers held valid licences. With India's ageing population rising, experts say only a combination of tighter rules, regular testing and public awareness can prevent more tragedies.
