New export rules under Trump's AI action plan support data center growth in Asia
'Obviously as time goes, the
AI demand
will definitely really be more important than anything else because that's the way things are going,' Khoo said.
DayOne is looking to expand across Asia and Spain as it targets one gigawatt in total capacity, boosted by cloud and AI demand. Its latest addition is a 20-megawatt facility in Singapore, powered by renewable energy.
Founded in 2022, DayOne operates data centers in markets including Malaysia, Indonesia, Hong Kong and Japan.
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Business Standard
25 minutes ago
- Business Standard
Higher US tariffs may trim India's GDP growth by 30 bps: Barclays
The 25 per cent US tariffs, plus a penalty for Russian imports, could dent India's GDP growth by 30 basis points in the current fiscal, but the higher duty is unlikely to significantly affect India's domestic demand-driven economy, Barclays said on Thursday. If the 25 per cent tariff, announced by US President Donald Trump on Wednesday, is implemented from August 1, the effective average US import tariff on Indian goods will rise to 20.6 per cent in trade-weighted terms, as per Barclays estimates. This is sharply higher than both the pre 'liberation day' tariff rate of 2.7 per cent and the 90-day pause tariff rate of 11.6 per cent. In contrast, India's import tariff on US goods is lower, at 11.6 per cent in trade-weighted terms. Barclays said that given the relatively closed nature of the Indian economy, wherein domestic demand is the mainstay of growth. "We do not see this 25 per cent tariff threat impacting GDP growth meaningfully, pegging the likely impact at 30 bp. We expect final tariffs on India to settle in lower than the announced 25 per cent, as India and the US continue with trade deal talks," it said. Indian economy is projected to grow at 6.5 per cent by the Reserve Bank-- same as last fiscal, while the International Monetary Fund (IMF) and Asian Development Bank (ADB) peg growth at 6.4 per cent and 6.5 per cent respectively. At 25 per cent, tariffs on India are higher than EM Asian peers, but Barclays expect final tariffs to settle lower as trade deal talks progress. Echoing similar views, Moody's Analytics Associate Economist Aditi Raman said while the US is India's largest trade partner, the Indian economy is relatively more domestically oriented than most of the region and relies far less on trade. "Pharmaceuticals, gems, and textiles are key sectors that are likely to be hit. A point of contention is market access to the key agricultural and dairy sector, which India has historically been reluctant to grant," Raman said. Barclays further said, India is already diversifying its sources of oil supply. Should the additional 'penalty' threat materialise, we expect Indian refiners to pivot towards alternate suppliers, especially as the discount on imports of Russian oil has already narrowed. To diversify its export base, the Indian administration is showcasing a renewed zeal to ink free-trade agreements with other countries and regions. "Amid heightened global trade policy uncertainty, having a pipeline of such bilateral trade agreements is a prudent policy choice," Barclays said. India has recently inked an FTA with the US and the EFTA bloc, and it is negotiating with a number of countries, including the European Union, Oman and New Zealand. The US is India's largest trading partner, accounting for 18 per cent of India's total merchandise exports in 2024. India's USD 80 billion merchandise exports to the US are distributed in sectors which also form India's overall major exports. India's top exports to the US, electrical machinery (USD 12 billion, including smartphones), and gems and jewellery (USD 9 billion) now face tariff increases of just over 24 percentage points, compared with levels before April 2. On the rupee, Barclays said that although more pain is expected in the near term, the drop in INR vis--vis USD still looks overdone. The INR, which had already been under pressure over recent weeks, fell sharply on the tariff news, hitting a low weaker than 87.50 versus USD. "We think the rupee is looking oversold in the short term. Clearly, USDINR has bounced more than anticipated, but we think the February high of just under 88.0 remains a strong resistance level," Barclays said.
Mint
25 minutes ago
- Mint
Nifty 50 tends to gain in August, shows 10-year history. Can the trend sustain amid Trump's tariff curveball?
Indian stock market: Benchmark indices paused for breath in July after a stellar multi-month rally, as disappointing corporate earnings and persistent foreign outflows weighed on sentiment. Investor caution was further heightened by uncertainty around a potential trade deal, which ultimately failed to meet expectations. US President Donald Trump threw a curveball in the form of a 25% tariff on imports, along with a warning of unspecified penalties for energy and defence-related purchases from Russia. This promoted worries that August, which is generally a positive month for the Indian stock market, may see tempered gains as global headwinds and cautious investor sentiment persist. Historically, July and August are among the most seasonally positive months for Indian equities. The Nifty 50 index has shown a positive trend during the month of August, delivering gains in six out of the past 10 years, according to data from JM Financial, with a median return of 1.4%. While markets bucked the trend in July, declining 1.7% so far (till July 30), analysts believe that while August may be characterised by volatility, it is likely to exhibit a positive trend. Harshal Dasani, Business Head, INVasset PMS, said that August could present a turnaround. With the ambiguity around the US–India trade stance gradually resolving — even if via an adverse outcome like tariff escalation — the market may begin to stabilise, Dasani said, adding that historically, equities consolidate when the 'event risk' transitions into known outcomes. Ashish Chaturmohta, Managing Director & Fund Manager, Apex PMS, JM Financial, also opined that despite some weakness in July 2025, primarily due to a softer outlook from the IT sector and elevated provisioning in the BFSI segment, the outlook for August remains constructive. His optimism is supported by above-average monsoon rainfall and improved reservoir levels, which are expected to boost rural demand and support agriculture, and a decent earnings season. "External environment, particularly the US tariff on Indian exports, remains the key monitorable and could influence market sentiments. Overall, the market sentiment for August 2025 appears positive and aligned with historical averages," said Chaturmohta. While analysts foresee an impact of Trump's tariff threat on export-heavy sectors, barring a full-blown trade war, they see limited downside. Emkay Global, in a note today, said that although trade talks appear to have stalled, we believe this saga is far from over. "Beyond pure economics, such negotiations carry significant geopolitical weight. Despite a potential shift in the balance of negotiation power, we believe both sides are still likely to push for a deal soon," it said. India's exports to the US are only 2% of GDP, with much lower value-added embedded in them. According to Emkay's estimates, previous static analysis suggests that India's US exports could drop by $30-33 bn (0.8-0.9% of GDP) at 25%+ tariffs, not adjusting for the complexity of dynamic cross-country hits/responses. While the announcement adds some downside tail risk, it is too early to consider actual forecast changes, it added. "In fact, with the rupee stabilising near ₹ 87.5 and Brent crude easing below $73, key macro stressors seem priced in. The geopolitical risk premium is also no longer expanding. Given that the uncertainty has peaked, and past Augusts tend to favour bulls, we could now see a shift from risk-off to recalibration mode—especially if global yields cool," Dasani added. As the market is expected to be volatile amid event-driven swings, Khushi Mistry, Research Analyst at Bonanza, advised adopting a cautious and selective approach. "It is prudent to emphasise quality large-cap companies with strong balance sheets and steady domestic demand exposure, such as financials and consumption sectors, rather than chasing risky small and midcap stocks." Gradual accumulation on market dips can capture value while maintaining discipline, Mistry recommended. Jashan Arora, Director at Master Trust Group, also advised investors to stay selectively invested, focusing on quality large-caps and sectors like banking, capital goods, and auto. "Caution is advised in small caps. A staggered approach to investing may help navigate any near-term volatility." Major drivers for August could include global interest rate signals, crude oil prices, domestic inflation and GDP data, and any geopolitical developments, along with FII stance, added Arora. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Deccan Herald
25 minutes ago
- Deccan Herald
Brigade Hotel Ventures shares drop nearly 10 pc in market debut trade
New Delhi, Shares of Brigade Hotel Ventures Ltd on Thursday listed with a discount of nearly 10 per cent against the issue price of Rs stock began trading at Rs 82, down 8.88 per cent from the issue price on the the NSE, it started trading at Rs 81.10, a discount of 9.88 per company's market valuation stood at Rs 3,279.94 initial share sale of Brigade Hotel Ventures Ltd fetched 4.48 times subscription on the closing day of bidding on initial public offering (IPO) had a price band of Rs 85-90 per Hotel Ventures' IPO was entirely a fresh issue of equity shares worth Rs 759.6 crore with no offer-for-sale (OFS) from the issue to the tune of Rs 468.14 crore will be used for the payment of debt, Rs 107.52 crore will be utilised for the purchase of an undivided share of land from the promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate Hotel Ventures Ltd is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL)..BEL entered into the hospitality business in 2004 with the development of its first hotel, Grand Mercure Bangalore, which commenced operations in company has a portfolio of nine operating hotels across Bengaluru, Chennai, Kochi, Mysuru, and the GIFT City (Gujarat) with 1,604 hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group.
