Marlboro Expansion Draws Indian Bulls to Godfrey Phillips
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian equities look set to extend their winning streak to the fifth day, with the Nifty futures pointing to a positive start. Technical analysts are likely feeling chuffed after the formation of a so-called golden cross for the benchmark index, which has in the past presaged gains. Asian stocks are also trading higher, buoyed by expectations about the US-China trade talks, and that's likely to support sentiment.
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Forbes
42 minutes ago
- Forbes
Association Of Pickleball Professional Fires Next Salvo In Battle For International Expansion In The Sport
United States-base pickleball associations continue their quest to expand their influence abroad, in an ongoing battle amongst titans in the sport to tap into burgeoning markets for pickleball underneath the (more than reasonable) assumption that the sport will experience similar growth abroad that is has here domestically. The latest salvo in that battlefront has been launched. On June 11th, 2025 The Association of Pickleball Players (APP) announced a pair of agreements (one new, one the extension of an existing collaboration) that will help elevate the talent level in events abroad while also bringing the APP's marketing and logistics expertise into play for growing markets in the sport. The APP is announcing a new agreement with Global Sports Pickleball (GSP), the leading pickleball organization in India and extending their long-standing relationship with Pickleball England, the national governing body (NGB) of the sport in England and operators of the English Open. I caught up with the principals of each group to discuss their organizations and these new collaborations; Ken Herrmann (Founder of the APP), Shashank Khaitan (co-founder of Global Sports), and Karen Mitchell (Chairperson of Pickleball England) to talk about these deals and the future of international pickleball. The APP is entering its 4th year collaborating with Pickleball England on the English Open, and have for years been sending both its top touring Pros and its top NextGen stars across the pond to compete. Per Mitchell, the sending of the top US pros 'helps elevate the level of play in our events. People want to play where the pros play. This gives people added excitement of playing against that caliber of player. The APP also helps us with sponsorships, streaming of our event to APP-TV, and promotional help on social media.' The collaboration has helped make the English Open not only the largest current tournament in Europe, but the largest outside of the US (they're projecting to nearly 2,200 players at this year's event). The English Open is essentially the leading fund-raising event for Pickleball England (the UK equivalent of USA Pickleball), and allows the NGB to fund the operations of the rest of its goals. Says, Mitchell, "Our focus is grassroots. We've developed curriculum to create and train coaches, which we feel will develop more players. We're going into schools and universities. We're trying to reduce the average age of players. We want to be the Carlsberg of events. [side note: I did not at first understand the context of this comment about Carlsberg. Only after some pointed googling did I learn about Carlsberg Beer's advertising campaign where they claim to 'Probably be the Best beer in the world.' I may have to incorporate this English idiom into my day to day speech]. Pickleball England was more than happy to extend its relationship with the APP. Says Mitchell, 'I believe that the APP does such great work, both in the US and helping to expand pickleball's reach internationally. They do right by the players and they genuinely are interested in growing the game internationally.' The timing of announcing the two collaborations together is not without some history; as it turns out, Herrmann of the APP first met Shashank Khaitan of GSP at the English Open two years prior. GSP got its start three years ago, held its first major tournament in February of 2023, and now plays host to three marquee events each year: the Monsoon Championships (held in August), the Indian Open (held in February), and the Global Sports Pro league, which debuted in February this year and featured 100 pro players from all over the globe participating for a total prize purse of $550k. (Note: if you're reading this and you're wondering which of the multiple India-based organizations GSP is, I suggest reading The Dink's Eric Tice's excellent comprehensive January 2025 overview of all things Pickleball in that region of the world. It provides an overview of GSP and its evolution of partnerships with other orgs in the region, some of which are now defunct). Khaitan describes the beginnings of the APP collaboration, which has been two years in the making, 'We first met at the English Open. We saw APP Next Gen players competing and were really impressed. We started a relationship with some of the APP pros there and became very close with Rob Nunnery in particular. This led to Nunnery and his partner Andrei Daescu traveling to play in the 2024 Indian Open." Nunnery and Daescu won the doubles title in that event, and in the final they played Armaan Bhatia & Harsh Mehta, who stretched them to three games before falling. This of course is the same Bhatia who has now come to the US and medaled in both the US Open and the APP's NYC Open in May 2025. This turned out to be a seminal match in Indian pickleball, as (in Khaitan's words), 'it showed Indian players where they needed to go, and when Bhatia & Mehta played the American pros in the final, they realized they really could compete against the best.' The most immediate and apparent impact of the APP-GSP collaboration will be the cross-pollination of US-based APP pros in GSP-run events going forward, and vice versa. The top 12 APP Male and Female pros will be offered seeded slots at the forthcoming 2025 Monsoon Open, and will be entered into the league auction for the 2026 iteration of the GSP League. Conversely, GSP will work with the APP to provide more opportunities for both established Asian pros and up-and-coming Indian & Asian players at the APP's Fort Lauderdale training facilities and academies. Both organizations clearly have respect for one another, and they both share some of the same values when it comes to growing the game. Says Herrmann, 'GSP has proven themselves as the premier leading organization in India, and as the APP continues to grow internationally it's always been my goal to keep my inner circle credible and full of quality people.' Khaitan agrees, 'We believe our ideology with APP is similar; we don't want to lock players down and want to give players growth experience opportunities.' Herrmann mentioned that the APP is now working on the development of international camps, both at the Fort in December and potentially at Mumbai-based events in 2026. Perhaps the most interesting takeaway from my conversations with Khaitan and Herrmann were the statements of their collective visions of international pickleball. One of Herrmann's longer term goals with partnerships like these is the pursuit of a global ranking system. He says, 'I want and foresee results in India to count towards APP rankings. If the No. 1 player from India comes here and there's a question where to seed him or her, there's a proven record of results for that player in international events, whether they're in India or in England or wherever.' Khaitan is more expansive. 'We want to set a common goal, see how to build towards it. We want to build something global. Tennis and the ATP really shifted when they globalized and held events all around the world, and we feel the same thing will happen with pickleball.' One thing is for certain; every year that US-based pros extend their presence in major international tournaments and leagues is a year where we get close to these goals. We've already seen a top player from India come to the US and succeed at the pro level, and it's just a matter of time before that becomes a regular occurrence.
Bloomberg
an hour ago
- Bloomberg
Japan's Jera Finalizes 20-Year LNG Agreements With US Suppliers
Jera Co., Japan's largest power generation company, has reached agreements to buy as much as 5.5 million tons per year of liquefied natural gas from US suppliers. The 20-year deals include purchases by Jera from NextDecade Corp. and Commonweath LNG LLC, Chief Executive Officer Yukio Kani said in an interview. The company has also entered into non-binding agreements with Sempra Infrastructure LLC and Cheniere Marketing LLC.
Yahoo
2 hours ago
- Yahoo
Wall Street Giant Hunts Japan's $7.4 Trillion Piggy Bank
Apollo Global Management (NYSE:APO) is going all in on Asia. At the Bloomberg Invest conference in Hong Kong, Asia-Pacific head Matthew Michelini laid out a vision centered on high-net-worth individuals and untapped retirement capital across the region. Japan alone holds $7.4 trillion in household cash deposits. Australia's pension system is on track to become the world's second-largest by 2030. It's ripe for what we provide, Michelini said, noting Apollo plans to massively expand its team in Japan and deepen its presence across Hong Kong and Singapore. Warning! GuruFocus has detected 8 Warning Signs with APO. The shift isn't just demographicit's strategic. From 2022 to 2024, Apollo raised $35 billion in Asia by partnering with insurers and pension managers, much of it funneled into private credit via its insurance unit Athene. Michelini says that private credit in Asia is commanding a premiumtypically 150 to 200 basis points above public debtand the firm is ramping up capital deployment in places like Australia and Southeast Asia. These markets, he argued, offer spreads on par with the US and Europe, but with stronger long-term financing demand and less competition. What's pushing this capital east? Trade turbulence. According to Michelini, investors who previously planned to put $100 into US assets are now allocating $70 to the US and sending the remaining $30 to Asiamostly India and Australia. For Apollo, this macro rebalancing could be a once-in-a-decade opening. As global supply chains rewire and infrastructure needs balloon, the firm's private credit strategy is positioning itself not just as a yield play, but as a core pillar of Asia's next growth cycle. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
