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Rupee nearly flat, tracking subdued Asia FX; forward premiums retreat

Rupee nearly flat, tracking subdued Asia FX; forward premiums retreat

MUMBAI: The Indian rupee was nearly unchanged on Monday, tracking muted moves in Asian currencies, while dollar-rupee forward premiums eased after stronger-than-expected US labour market data dented hopes of rate cuts by the Federal Reserve.
The rupee was at 85.6175 against the US dollar as of 11:00 a.m. IST, little changed from its close at 85.6250 in the previous session.
The dollar index was hovering just shy of the 99 handle after rising nearly 0.5 per cent on Friday, boosted by upbeat US jobs data which gave investors some relief following bleak US economic data last week.
"The most likely near-term catalyst for USD upside lies in the ongoing US data resilience or even a reacceleration, even if temporary," BofA Global Research said a note.
The jobs data also pegged back hopes of Fed rate cuts, with interest rate futures now pricing in 60 per cent odds of a reduction in or before September, compared to nearly 75 per cent before the report was released, according to the CME Group's FedWatch Tool.
The scaling back of expectations pushed up near-tenor US bond yields, weighing on dollar-rupee forward premiums, with the 1-year implied yield declining to 1.78 per cent, its lowest level since July 2024.
Meanwhile, the BSE Sensex and Nifty 50 - India's benchmark equity indexes - rose 0.5 per cent each on the day, tracking gains in regional equities.
The focus on Monday will be on talks aimed at mending a trade rift between the United States and China. The discussions are expected to focus on critical minerals, whose production is dominated by China.
In April, China had decided to suspend exports of a wide range of rare earths and related magnets. The curbs have upended supply chains crucial to automakers, aerospace manufacturers, semiconductor companies and military contractors.

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U.S. inflation rises modestly in May, fueling political pressures on Fed
U.S. inflation rises modestly in May, fueling political pressures on Fed

The Star

time34 minutes ago

  • The Star

U.S. inflation rises modestly in May, fueling political pressures on Fed

NEW YORK, June 11 (Xinhua) -- Inflation in the United States edged slightly higher in May, with the consumer price index (CPI) rising 2.4 percent on an annual basis, up from 2.3 percent in April, according to the data released by the Bureau of Labor Statistics on Wednesday. The increase was just below economists' expectations of a 2.5 percent rise, based on a FactSet survey. Core inflation, which strips out the often volatile categories of food and energy, climbed 2.8 percent over the past year -- also below the 2.9 percent projected. Despite these softer-than-expected readings, inflation remains above the Federal Reserve's 2 percent target, underscoring ongoing challenges in fully stabilizing prices. The inflation rate likely rose less than expected due to a sharp dip in gasoline prices. Lower energy prices were a "major source of disinflationary/deflationary pressure," noted Adam Crisafulli, an analyst with Vital Knowledge. Gasoline prices fell 12 percent from a year earlier, while clothing prices declined 0.9 percent, and airline fares dropped 7.3 percent. On the other hand, prices for beef, coffee, and housing continued to rise, offsetting the broader easing in other sectors. In financial markets, the report prompted a modest lift in U.S. stock indexes during midday trading, while the U.S. Treasury yields and the U.S. dollar slipped, reflecting expectations that the Federal Reserve may be inching closer to cutting interest rates later this year. Political pressure quickly mounted in response to the CPI data. U.S. President Donald Trump reiterated his call for the Fed to slash interest rates by a full percentage point, while U.S. Vice President JD Vance accused the central bank of engaging in "monetary malpractice" by maintaining current borrowing costs. Although the inflation numbers do not yet reflect significant upward pressure from tariffs imposed by the Trump administration, economists warn the full effects could materialize in the second half of 2025. "The impact of tariffs was smaller than expected in May. We expect to see it more clearly starting next month," said economists with Bank of America Global Research. Combined with the solid May jobs report, the latest CPI data reduce the chances of a nasty bout of stagflation in the United States, according to Bank of America Global Research. "Tariff impacts may begin appearing in the CPI data later this summer," said Seema Shah, chief global strategist at Principal Asset Management, noting the potential for inflation to creep above 3 percent by year-end if trade-related costs feed through the broader economy. "Today's below forecast inflation print is reassuring -- but only to an extent," Shah added. "Tariff-driven price increases may not feed through to the CPI data for a few more months yet, so it is far too premature to assume that the price shock will not materialise."

Managed Services Market Size Forecasts to $731.08 Billion Growth, by 2030
Managed Services Market Size Forecasts to $731.08 Billion Growth, by 2030

Malaysian Reserve

time4 hours ago

  • Malaysian Reserve

Managed Services Market Size Forecasts to $731.08 Billion Growth, by 2030

CHICAGO, June 11, 2025 /PRNewswire/ — The Global Managed Services Market size is projected to be valued at USD 299.01 billion in 2023 and reach USD 731.08 billion by 2030, growing at a CAGR of 13.6% according to a new report by The Research Insights. Organizations benefit from managed services through reduced downtime and the elimination of duplicated work while gaining access to valuable services that include application testing and tailored service catalog development along with expert consultancy. Market expansion has been driven by the widespread use of various monitoring tools and infrastructure layers that specialized teams manage effectively. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Managed Services Market growth of 13.6% comprises a vast array of Solution, Managed Information Service (MIS), Deployment, Enterprise Size, End Use and Geography which are expected to register strength during the coming years. For More Information and To Stay Updated on The Latest Developments in The Global Managed Services Market Share, Download FREE Sample Pages: Market Overview and Growth Trajectory: Managed Services Market Growth: According to an exhaustive report by The Research Insights, the Managed Services Market is experiencing significant growth. Technological advancements alongside evolving business models and increased security concerns are propelling the managed services market toward dynamic global expansion. Accelerated digital transformation across multiple industries creates a critical need for enterprises to turn to managed services for cloud infrastructure and data analytics along with application management to sustain their competitive edge and agility. Businesses now require expert support to optimize and secure their complex IT systems which has driven the increased demand for managed services due to the emergence of hybrid and multi-cloud environments. As cybersecurity threats continue to multiply organizations now prioritize digital defense by partnering with managed service providers (MSPs) who offer specialized security operations. The current trend of incorporating AI and automation into managed service offerings creates opportunities for predictive maintenance and intelligent monitoring while reducing operational expenses. Remote workforces and distributed teams require better communication tools which increases MSPs' importance in delivering smooth digital operations. Edge computing and IoT technologies drive market demand since companies depend more on MSPs for scalable real-time data processing and infrastructure management. The IT infrastructure complexity continues to grow which demands specialized expertise to manage it effectively: The rapid pace of digital transformation across industries has resulted in increased complexity for enterprise IT environments. Enterprises implement hybrid cloud setups along with IoT device integration and edge computing solutions while managing diverse cybersecurity tiers. Effective operation of this complex ecosystem includes continuous monitoring along with seamless interoperability and active threat management which require specialized expertise and resources. Small and medium-sized enterprises find it operationally complex and financially demanding to establish and support internal teams for managing complex IT systems. The rising complexity of IT systems has pushed businesses toward managed services providers (MSPs) for specialized support in network management, cybersecurity, cloud services, and help desk functions. Managed services providers deliver scalable and affordable solutions with continuous monitoring and quick incident response which makes them essential in modern IT landscapes. For Detailed Market Insights, Visit: Businesses show increasing demand for solutions that optimize costs while improving operational efficiency: The main reason companies opt for managed services providers stems from their undeniable financial benefits. The expenses associated with sustaining an internal IT department knowledgeable in cloud computing, security, data analytics, and compliance reach prohibitive levels. Managed services convert capital spending into operational costs which lets businesses choose between subscription or pay-as-you-go payment models. Startups and mid-sized companies find financial flexibility appealing because it lets them access comprehensive IT services without incurring significant overhead expenses. Managed Service Providers boost operational efficiency through process standardization and routine task automation while maintaining top performance and availability of IT systems. They enable companies to maintain their focus on essential competencies while making sure infrastructure remains optimal and up-to-date according to industry standards. Service-level agreements (SLAs) ensure reliable uptime and performance levels which makes outsourcing more attractive to enterprises. The growing number of cyber threats demands organizations to adhere to strict regulatory standards: Recent years have seen a dramatic increase in both the frequency and complexity of cyberattacks as well as their destructive consequences. Organizations confront ongoing security threats including ransomware and phishing attacks alongside advanced persistent threats that could cause major financial losses and damage to their reputation. Modern organizations face complex regulatory requirements from laws like GDPR and HIPAA and PCI-DSS which enforce strict data protection standards. Within the managed services market Managed Security Services Providers (MSSPs) serve as crucial partners to organizations aiming to boost their security measures while maintaining regulatory compliance. MSSPs provide continuous security monitoring while also offering incident response capabilities and conducting vulnerability assessments alongside compliance audits. Organizations maintain a strong defense against cyber threats by implementing advanced technologies including Security Information and Event Management (SIEM), Endpoint Detection and Response (EDR), and threat intelligence platforms. Managed service providers' capacity to deliver contemporary specialized knowledge within an ever-changing threat landscape creates strong demand for their services. Stay Updated on The Latest Managed Services Market Trends: Geographical Insights: North America has maintained its position as the largest market participant throughout history while holding a major market share above 32.0%. The North American managed services market is likely to experience growth between 2024 and 2030 because of the region's robust technology sector combined with rising adoption rates of ERP and CRM solutions as well as cloud services. The managed services market in the Asia Pacific region is expected to experience substantial growth with a projected Compound Annual Growth Rate of 14.6% throughout the period from 2024 to 2030. The region's growth forecast relies on key players who plan to adopt cloud-based solutions while simultaneously investing more in data security. The market expansion will be fueled by rising spending as organizations implement cutting-edge technologies including cloud-based infrastructure and advanced software for business development. The managed services market in India and ASEAN countries will experience accelerated growth due to government digitalization focus combined with the expanding IT industry in these regions which will drive the overall industry forward. Global Managed Services Market Segmentation and Geographical Insights: Based on Solution, the managed services market is divided into, Managed IT Infrastructure & Data Center, Managed Network, Managed Mobility, Managed Communication & Collaboration, Managed Information, Managed Security, and Managed Backup and Recovery. The managed data center segment-maintained market dominance throughout 2022 and secured more than 15% of the total market share. The market segment will experience notable expansion as cutting-edge technologies become part of current and upcoming corporate infrastructure systems. Based on Managed Information Service (MIS), the managed services market is divided into, Business Process Outsourcing (BPO), Business Support Systems, Project & Portfolio Management, and Others. Business process outsourcing (BPO) became the leading force in Management Information Systems (MIS) during 2022 when it took control of over 40% of the market share. Organizations can concentrate on their main strengths and boost their profits when they incorporate BPO into their strategic business plans. Based on Deployment, the managed services market is divided into, On-premises, and Hosted. The market was led by the on-premises deployment segment in 2022 which represented more than 64% of the market share. Businesses prefer this method because it removes internet connection requirements but permits software customization that meets their unique operational needs. Based on Enterprise Size, the managed services market is divided into, Small & Medium Enterprises (SMEs), and Large Enterprises. The large enterprises segment-maintained market dominance in 2022 with a substantial share exceeding 60%. The management and upkeep of substantial data requires significant effort from large enterprises both at their physical locations and remote sites. Based on End-Use, the managed services market is divided into, BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Retail, and Others. Financial institutions within the banking and insurance sector claim the highest market share exceeding 15% through end-use while they depend more on managed services to maintain their competitive edge. The Managed Services Market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Purchase Premium Copy of Global Managed Services Market Size and Growth Report (2024-2030) at: Key Players and Competitive Landscape: The Global Managed Services Market is characterized by the presence of several major players, including: Accenture Atera Networks Ltd. ARYAKA NETWORKS, INC. AT&T Inc. BMC Software, Inc. Broadcom Cisco Systems, Inc. DXC Technology Company Fujitsu HCL Technologies Limited HP Development Company, L.P. International Business Machines Corporation Lenovo ScalePad Software Inc. Telefonaktiebolaget LM Ericsson These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Global Managed Services Market Recent Developments and Innovations: In September 2024: During September 2024 TCS introduced Managed Detection and Response (MDR) and Secure Cloud Foundation as AI-powered cybersecurity solutions through their partnership with Google Cloud. The MDR service provided continuous threat detection and managed response capabilities along with Secure Cloud Foundation which focused on boosting cloud security and governance for hybrid systems. The two solutions use Google Cloud's security tools to deliver proactive protection for enterprises. In September 2024: IBM and NTT DATA launched SimpliZCloud which delivers a fully managed cloud service for financial institutions utilizing IBM's LinuxONE platform. The platform focused on optimizing infrastructure performance and reducing costs while facilitating AI/ML applications through a subscription model that promotes sustainable hybrid cloud use. In May 2024: DXC Technology and Dell established Enterprise Intelligence Services (EIS) through their partnership. The purpose of the service was to enhance managed services by integrating artificial intelligence capabilities with data analytics tools and cloud technology solutions. DXC Technology established its leadership in managed multi-cloud solutions through EIS's multi-cloud strategy by enabling organizations to optimize operations and customer experiences while making better decisions. In January 2024: Through the acquisition of NaviSite Accenture seeks to enhance its managed services capabilities with an emphasis on application and infrastructure management. Through this acquisition Accenture will boost its capabilities to support US and Canadian clients who want to update their digital infrastructure with AI-based solutions along with cloud and data-driven strategies for digital transformation. For Region-Specific Market Data, Check Out Brief Sample Pages: Frequently Asked Questions (FAQs): What is the forecasted market size of the Managed Services Market in 2030?➢ The forecasted market size of the Managed Services Market is USD 731.08 billion in 2030. Who are the leading players in the Managed Services Market?➢ The key players in the Managed Services Market include, Accenture; Atera Networks Ltd.; ARYAKA NETWORKS, INC.; AT&T Inc.; BMC Software, Inc.; Broadcom; Cisco Systems, Inc.; DXC Technology Company; Fujitsu; HCL Technologies Limited; HP Development Company, L.P.; International Business Machines Corporation; Lenovo; ScalePad Software Inc.; and Telefonaktiebolaget LM Ericsson. What are the major drivers for the Managed Services Market? ➢ Several key factors are driving this expansion, including the rapid digital transformation across industries boosts reliance on third-party IT expertise and support. Which is the largest region during the forecasted period in the Managed Services Market?➢ North America has maintained its position as the largest market participant throughout history while holding a major market share above 32.0%. Which is the largest segment, by End Use, during the forecasted period in the Managed Services Market?➢ Financial institutions within the banking and insurance sector claim the highest market share exceeding 15% through end-use while they depend more on managed services to maintain their competitive edge. Conclusion: The Global Managed Services Market experiences swift changes due to the expanding demand for operational efficiency together with scalable IT infrastructure and proactive cybersecurity solutions in various industries. Managed service providers (MSPs) remain essential in offering flexible and affordable specialized IT support as businesses move towards cloud computing and remote work along with their digital transformation efforts. A lack of internal technical knowledge forces organizations to outsource network management, data protection, and infrastructure monitoring services. Through AI analytics and automated systems service delivery improves because they provide predictive maintenance capabilities together with instant issue resolution and better decision-making processes. Hybrid and multi-cloud environments demand powerful managed services that maintain compliance while delivering agility and performance. The future will see increasing demand for managed services that provide customization, security focus, and outcome-based solutions which will parallel market trends in digital resilience and business continuity planning. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: The report from The Research Insights, therefore, provides several stakeholders—IT service providers, telecom operators, cloud service vendors, enterprises (SMEs and large corporations), government agencies, and end-users across various industries such as BFSI, healthcare, and manufacturing—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. With projected growth to US$ 731.08 billion by 2030, the Global Managed Services Market represents a significant opportunity for cybersecurity firms, AI and automation technology developers, edge computing startups, remote work solution providers, and digital transformation consultants, can position themselves for success in this dynamic and evolving market landscape. Check out more related studies published by The Research Insights: U.S. Managed Services Market – The US Managed Services Market size was estimated at USD 88.13 billion in 2024, with a promising growth trajectory. At a compound annual growth rate (CAGR) of 13.0% from 2024 to 2030, it is poised for significant expansion. Notably, the US accounted for 26.5% of the global managed services market share. As organizations in the US strive for operational efficiency and agility, they are increasingly adopting high-level business transformation initiatives. This involves leveraging managed services as a key component to enhance service levels, alleviate operational burdens, and foster proactive monitoring of resources. Telecom Managed Services Market: The Global Telecom Managed Services Market is expected to reach at USD 55.29 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 13.4% during the forecast period, driven by the integration of cutting-edge technologies such as AI-driven automation has further fuelled this growth, thereby enhanced service quality while streamlined operational complexities. Cloud Managed Services Market: The Global Cloud Managed Services Market is expected to reach at USD 305.16 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 14.7% during the forecast period. One major driver is the increasing adoption of cloud computing among organizations across various industries. Browse More related reports on Technology Industry Market Reports – About Us: The Research Insights provides thoroughly conducted research which is backed up by real-time statistics and data. Our experts are eager to help you with any information required under the sun. The key to our success is keeping abreast with the markets, industries, and ever-changing consumer trends that matter. Our market research professionals have in-depth knowledge and expertise across various domains that includes IT and Telecom, Emerging Technologies, Consumer Offerings, Manufacturing and Others. We are committed to reviewing the scope and procedure of the research studies that you select and provide you with an accurate guidance in order to assist you in taking the correct business decisions. Contact Us:If you have any queries about this report or if you would like further information, please contact us: Contact Person: Kaushik RoyE-mail: sales@ +1-312-313-8080Blog: Press Release: Latest News: | Logo: View original content:

Column: ASEAN and China working together for a prosperous 2045
Column: ASEAN and China working together for a prosperous 2045

Malaysia Sun

time5 hours ago

  • Malaysia Sun

Column: ASEAN and China working together for a prosperous 2045

by Yuan Zhi The recently unveiled ASEAN Community Vision 2045, launched at the 46th ASEAN Summit under the theme "Our Shared Future," embodies the Eastern ideal of collective prosperity. This vision, rooted in the Asian traditions of harmony and mutual progress, resonates with Chinese President Xi Jinping's call for building a community with a shared future for mankind. A PARTNERSHIP OF MUTUAL BENEFIT While some in other parts of world are turning inward, China and ASEAN have been embracing partnership for mutual benefit. For 16 consecutive years, China has been ASEAN's largest trading partner, and ASEAN has held the same position for China over the past five years. President Xi's recent visits to Vietnam, Malaysia and Cambodia have reinforced the time-honored bonds between the Asian nations and underscored China's commitment to strengthening ties with its neighbors for a community with a shared future. THE URGENCY OF ECONOMIC RESILIENCE The global trade landscape is shifting. Average U.S. tariffs on Southeast Asian goods now exceed 30 percent, and supply-chain disruptions have exposed the risks of overreliance on distant and volatile markets. ASEAN's economic future hinges on diversification and regional integration -- areas where China offers unparalleled advantages. As the world's second-largest economy and the top trading nation, China has been a stabilizing force for ASEAN through crises like the 1997-98 Asian financial turmoil and the 2008 global recession. Today, initiatives like the Belt and Road Initiative and the Global Development Initiative provide ASEAN with infrastructure, technology and trade frameworks to boost self-reliance. THE PATH TO 2045: INNOVATION AND INTEGRATION ASEAN's manufacturing capacity stands to gain from deeper economic integration with China. Its economic resilience will benefit from more trade with China. And ASEAN's ambitions for digital and green transitions align perfectly with China's strengths in AI, renewable energy and e-commerce. Despite U.S. restrictions, China's innovative industry continues to develop at a miraculous speed, as evidenced by breakthroughs such as Deepseek. According to the 2024 Global Innovation Index, the past ten years have witnessed China as one of the economies experiencing the most rapid growth in innovation power. In May, China and 10 ASEAN countries have fully completed negotiations on the Version 3.0 China-ASEAN Free Trade Area. By modernizing trade rules and expanding cooperation in emerging sectors, China and ASEAN are creating a more dynamic economic future -- one that is more resilient against external shocks. THE "ASIAN MOMENT" IN GLOBALIZATION As Chinese Foreign Minister Wang Yi said, globalization is experiencing an "Asian moment" and the world's focus is shifting towards Asia. The inaugural ASEAN-China-GCC (Gulf Cooperation Council) Summit alongside the 46th ASEAN Summit signals the region's rise as a hub of 21st-century multilateralism. ASEAN and China working side by side will create greater resilience, innovation and shared prosperity -- essential ingredients for realizing Community Vision 2045. Editor's note: The author is a commentator on international affairs based in Kuala Lumpur. The views expressed in this article are those of the author and do not necessarily reflect the positions of Xinhua News Agency.

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