India Allows Private Firms to Build Advanced Fighter Jets
India will for the first time allow private firms to design and develop advanced warplanes, as it beefs up domestic defense production to reduce reliance on imports.
State-owned companies and private entities will have 'equal opportunities' on a 'competitive basis' to build twin-engine fighter jets, India's Ministry of Defence said in a statement Tuesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
28 minutes ago
- Bloomberg
Sharp Decline in Volatility Index Catches Seasoned Traders Off Guard
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 Savio Shetty, an equities reporter in Mumbai. Nifty futures point to a flat start, and may follow Asian markets lower as uncertainties around President Trump's tariffs whipsawed the markets. Still, Indian stocks are poised for a third straight month of gains, helped by foreign inflows and improvement in earnings. The focus will be on Ola Electric after the firm's fourth quarter net loss doubled from a year ago.
Bloomberg
33 minutes ago
- Bloomberg
Bloomberg Daybreak Asia: Trump Wins Tariff Reprieve
A federal appeals court offered President Donald Trump a temporary reprieve from a ruling threatening to throw out the bulk of his sweeping tariff agenda, giving at least some hope to a White House now facing substantial new restrictions on its effort to rewrite the global trading order. Meantime, Asian shares and US stock futures declined as uncertainties around President Trump's tariffs whipsawed the markets. For more, we spoke to Mary Nicola, Bloomberg MLIV Strategist. Plus - the US equity market advanced as it grappled with several forces such as solid guidance from Nvidia, legal uncertainty around President Trump's trade war and questions about monetary policy. That is after the fact President Trump pushed Federal Reserve Chair Jerome Powell to lower interest rates. We speak to Scott Ladner, Chief Investment Officer at Horizon Investments.
Yahoo
34 minutes ago
- Yahoo
Stocks slip, dollar sags as Trump tariffs remain after latest courtroom twist
By Kevin Buckland TOKYO (Reuters) - Stocks slipped in Asia on Friday and the U.S. dollar drooped with Treasury yields as investors digested an appeals court kept President Donald Trump's tariffs in effect, a day after markets rallied on a separate ruling blocking most of them. Japan's Nikkei saw the most pronounced selling, after experiencing the most pronounced buying on Thursday, with moves in the exporter-heavy index exacerbated by the ebb and flow in demand for the safe-haven yen. The United States Court of Appeals for the Federal Circuit in Washington temporarily reinstated Trump's duties on Thursday while it considers the government's appeal. On Wednesday, a little-known trade court had unanimously ruled Trump overstepped his authority, and tariffs were the jurisdiction of Congress not the president. Either way, senior Trump administration officials said they were undeterred and expected either to prevail on appeal or to employ other powers to ensure the tariffs remain. The Nikkei dropped 1.7% in the Asian morning, putting it basically back at Wednesday's closing level. The yen strengthened about 2% from its low on Thursday to last change hands at around 143.48 per dollar. A stronger yen reduces the value of overseas revenues. Hong Kong's Hang Seng sank 1.4% and mainland China's blue chip index eased 0.3% in early trading. South Korea's KOSPI fell 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.4%. "Trump's trade agenda remains alive and kicking, with the legal battle adding yet another layer of uncertainty," said Rodrigo Catril, senior FX strategist at National Australia Bank. "The only thing that looks more certain is more uncertainty," which will lead to additional delays in investment decisions and hiring, he said. U.S. S&P 500 futures retreated 0.2%. The cash index rose 0.4% overnight, but that was largely the effect of resilient Nvidia financial results from after the market close on Wednesday, to which Asian shares already had a chance to react. Pan-European STOXX 50 futures edged 0.1% lower. The 10-year U.S. Treasury yield was steady at 4.42% on Friday, following a 5.5 basis point slide on Thursday. Safe-haven gold was little changed at $3,311 per ounce, following a 0.8% advance in the previous session. Risk-sensitive bitcoin slipped to a 10-day low of $104,714.35. Both Brent and U.S. West Texas Intermediate crude eased 0.3% early on Friday, to $63.97 and $60.75 per barrel, respectively. Despite the uncertainty injected by the courtroom drama, the Trump administration said negotiations with top trading partners continue unabated. Treasury Secretary Scott Bessent noted during an interview with Fox News that he is scheduled to have talks with a high-level Japanese delegation later on Friday in Washington. Trump had already paused his "Liberation Day" tariff rates on most trade partners for 90 days to July 9 and set a baseline rate of 10% in the meantime in order to give time for some of them to hammer out deals. So far though, apart from a broad agreement with Britain, deals remain elusive. Bessent said in the interview with Fox News that talks with China are "a bit stalled," and may need the direct involvement of Trump and Chinese President Xi Jinping to get across the finish line. Sign in to access your portfolio
