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Business Recorder
an hour ago
- Business Recorder
Tariff worries, Trump's BRICS swipe spark worst rupee fall in three weeks
MUMBAI: The Indian rupee slumped on Monday as uncertainty about U.S. tariff policies resurfaced with President Donald Trump's threat of a fresh 10% levy on BRICS countries compounding pressure on the local currency alongside peers like South African rand and Chinese yuan. Worries over U.S. trade policies dented risk sentiment across the board, pushing Asian currencies and equities into the red while U.S. equity futures pointed to a weak return from the long weekend. The rupee had declined to a low of 86.0275 per U.S. dollar during the session but pared losses to close at 85.85 per U.S. dollar, down 0.5% on the day, its worst performance since mid-June, when it traded in the shadow of a military conflict between Israel and Iran. In a social media post, President Donald Trump said the U.S. would start delivering tariff letters from 12:00 pm ET (1600 GMT) on Monday. In a separate post, he rolled out a wholly new tariff policy, calling for countries 'aligning themselves with the Anti-American policies' of the BRICS developing nations to be charged an extra 10% tariff, with no exceptions to be granted. Indian rupee ends nearly flat following choppy trading; forward premiums dip It was not immediately clear if Trump's tariff threat would derail trade talks with India and other BRICS nations. The South African rand fell 1% after Trump's threat while the offshore Chinese yuan was down 0.2%. The absence of progress on trade negotiations over the weekend has come as a negative surprise for markets with Trump's BRICS remark especially hurting the rupee, said Dilip Parmar, a foreign exchange research analyst at HDFC Securities. Parmar expects the Reserve Bank of India to step in to support the rupee if volatility remains elevated due to uncertainty on U.S. trade policies. On the day, traders also pointed to strong dollar demand from a large local private bank which pressured the local currency. A fall below the 85.80 level triggered stop-losses and accentuated the day's move, a trader at a state-run bank said. He expects the currency to weaken to 86.50 in the near-term in the absence of positive developments on the trade front.
Express Tribune
an hour ago
- Express Tribune
Zayn previews 'Fuchsia Sea' with striking lyric on race
Zayn Malik has shared a preview of a new track titled Fuchsia Sea, in which he appears to reference racism he experienced during his time in the band One Direction. The teaser, posted to his Instagram on Saturday, includes the lyric: "Cause I have been conscious of every connotation / And while they concentrate on their elevation / I've got a round trip to the constellation / I'm a convert to the concert, and I did that for inflation, 'cause I worked hard in a white band, and they still laughed at the Asian." The verse has drawn widespread attention for addressing his experience as the only non-white member of the boy band One Direction. Zayn's father is Pakistani, and his mother is of English and Irish descent. While Zayn hasn't confirmed a release date, he noted the track is "coming soon." The song appears to be part of a return to music following his 2024 album Room Under the Stairs. In recent years, he has largely stayed out of the public eye, making only select appearances and releasing music sporadically. On Liam's death One such rare appearance came in late 2024, when Zayn reunited with former bandmates Harry Styles, Louis Tomlinson, and Niall Horan to attend the funeral of Liam Payne. Liam died on October 16 last year at the age of 31, after falling from a hotel balcony in Buenos Aires. Zayn was one of the founding members of One Direction, formed during the 2010 season of The X Factor alongside Harry, Niall, Liam, and Louis. The band quickly rose to international fame, selling millions of records and becoming one of the biggest pop acts of the decade. In 2015, Zayn officially announced his departure from the group in a statement, released on the group's social media, that said, "I'd like to apologise to the fans if I've let anyone down, but I have to do what feels right in my heart." He continued, "I am leaving because I want to be a normal 22-year-old who is able to relax and have some private time out of the spotlight. I know I have four friends for life in Louis, Liam, Harry, and Niall." Zayn's exit came midway through the band's On the Road Again tour, which the remaining members completed without him. Since then, he has pursued a solo career, exploring genres beyond pop, including R&B and hip-hop. Liam spoke about Zayn's departure during One Direction's appearance on The Late Late Show, saying, "We were surprised. I think we all knew the general vibe that Zayn was feeling. There were certain parts of this job that Zayn loved and certain parts of the job that he didn't." He shared their honest reactions, "Like I said, we were angry at first, but then it was just a bit disappointing." After the rest of the band finished their tour, they also went on an indefinite hiatus and focused on their solo careers. Zayn briefly reflected on his time in One Direction during a concert in Mexico City in March, where he performed Night Changes, a track from the band's 2014 album Four. He told the crowd, "It's the first time I've sung that song in 10 years. Thank you, that was f--king amazing. I almost cried." His upcoming track Fuchsia Sea appears to be one of his most personal to date, with lyrics directly referencing his racial identity and his experience in the band.
New York Post
an hour ago
- New York Post
Zohran Mamdani's SAT scores revealed after Columbia application ‘African American' bombshell
Democratic mayoral nominee Zohran Mamdani's SAT score was revealed after the bombshell revelation that he listed himself as African American on his application to Columbia University. Mamdani received a 2140 out of 2400 on the test, which was below the median score for admitted students but was above the median score for black students, independent journalist Christopher Rufo reported. 3 Mamdani listed that he was both 'Asian' and 'Black/African American' when applying to Columbia University. Paul Martinka for NY Post 3 Zohran's father Mahmood Mamdani is a professor at Columbia. AP The Ugandan-born Mamdani got hammered by critics after a New York Times report that Mamdani listed that he was both 'Asian' and 'Black/African American' when applying to Columbia University, where his father Mahmood Mamdani is a professor. 3 Mamdani received a 2140 out of 2400 on the test. Getty Images/iStockphoto The Mamdani campaign didn't immediately respond to comment.
