Latest news with #DII
Business Recorder
2 days ago
- Business
- Business Recorder
Indian shares set to open higher on strong inflows, growth optimism
Indian benchmark indexes are poised to open higher on Friday, supported by robust institutional inflows and expectations of faster domestic economic growth ahead of GDP data due later in the day. Gift Nifty futures were trading at 24,950, as of 8:14 a.m. IST, indicating a firm start above the Nifty 50's close of 24,833.6 on Thursday. Foreign portfolio investors (FPI) purchased Indian shares worth 8.84 billion rupees ($103.5 million) on Thursday, marking their fifth consecutive session of net purchases. With $2.6 billion in net foreign inflows so far in May, FPI buying is on track to hit its highest monthly total since September 2024, when benchmark indexes hit record peaks. Meanwhile, domestic institutional investors (DII) have been net buyers of Indian shares for eight consecutive sessions. Sustained institutional support, sequential improvement in March quarter earnings, and easing global trade concerns have lifted the Nifty 50 by 2% month-to-date, setting up the index for a third straight monthly gain. Investor sentiment is also buoyed by expectations of an economic recovery and potential rate easing by the Reserve Bank of India next week, analysts said. Financials, IT stocks weigh on Indian equity benchmarks India's economic growth is likely to have accelerated in the January–March quarter, driven by stronger rural demand and increased government spending, despite cautious private investment amid global uncertainty. The GDP data will be released after market hours on Friday. Wall Street equities closed higher overnight as markets digested a court ruling that reinstated the most sweeping of U.S. President Donald Trump's tariffs. The ruling came just a day after a U.S. trade court had ordered a block on the same measures. Broader Asia markets opened weaker, with the MSCI Asia ex-Japan index losing 0.5% after a 0.6% gain in the previous session.
Reuters
2 days ago
- Business
- Reuters
Indian shares set to open higher on strong inflows, growth optimism
May 30 (Reuters) - Indian benchmark indexes are poised to open higher on Friday, supported by robust institutional inflows and expectations of faster domestic economic growth ahead of GDP data due later in the day. Gift Nifty futures were trading at 24,950, as of 8:14 a.m. IST, indicating a firm start above the Nifty 50's close of 24,833.6 on Thursday. Foreign portfolio investors (FPI) purchased Indian shares worth 8.84 billion rupees ($103.5 million) on Thursday, marking their fifth consecutive session of net purchases. With $2.6 billion in net foreign inflows so far in May, FPI buying is on track to hit its highest monthly total since September 2024, when benchmark indexes hit record peaks. Meanwhile, domestic institutional investors (DII) have been net buyers of Indian shares for eight consecutive sessions. Sustained institutional support, sequential improvement in March quarter earnings, and easing global trade concerns have lifted the Nifty 50 by 2% month-to-date, setting up the index for a third straight monthly gain. Investor sentiment is also buoyed by expectations of an economic recovery and potential rate easing by the Reserve Bank of India next week, analysts said. India's economic growth is likely to have accelerated in the January–March quarter, driven by stronger rural demand and increased government spending, despite cautious private investment amid global uncertainty. The GDP data will be released after market hours on Friday. Wall Street equities closed higher overnight as markets digested a court ruling that reinstated the most sweeping of U.S. President Donald Trump's tariffs. The ruling came just a day after a U.S. trade court had ordered a block on the same measures. Broader Asia markets opened weaker, with the MSCI Asia ex-Japan index (.MIAPJ0000PUS), opens new tab losing 0.5% after a 0.6% gain in the previous session. ** Eternal ( opens new tab, formerly known as Zomato, will be in focus as the stock faces $480 million outflow from passive funds due to its weight cut in key MSCI index Coromandel International ( opens new tab and FSN E-Commerce Ventures ( opens new tab will likely see inflows as MSCI's May index review changes come into effect at the end of day ** Bajaj Auto ( opens new tab beats fourth-quarter profit estimate on higher motorcycle exports, but warned that further delays in in securing the supply of rare earth magnets from China could "seriously impact" electric vehicle production by July ** Ola Electric Mobility ( opens new tab targets profitability in fiscal year 2026, even as its latest quarterly losses widened on account of falling sales, steep discounts and a one-time warranty expense provision ($1 = 85.3740 Indian rupees)
The South African
22-05-2025
- Business
- The South African
South Africa's G20 legacy will be measured by 'lives changed'
Minister in the Presidency responsible for Women, Youth and Persons with Disabilities, Sindisiwe Chikunga, says the legacy of South Africa's G20 Presidency will not be defined by the number of meetings held, or the elegance of its communiqués, but by 'lives changed, systems reformed, and the power redistributed.' Chikunga made the remarks at the opening plenary of the Women20 (W20) South Africa Inception Meeting, currently underway in Cape Town. The W20 is the official G20 engagement group focused on promoting gender equality and women's economic empowerment. The 2025 Inception Meeting, hosted under the theme: 'Women in Solidarity', marks 10 years of W20. The meeting brings together over 100 global delegates representing government, business, academia, and civil society. The two-day Inception Meeting, which started on Wednesday, convenes thought leaders, including policymakers and change-makers from across the globe to explore high-level interventions and innovative solutions to the challenges facing women today. In her address, Chikunga said the gathering is not an endpoint, but a beginning of a call to mobilise transformative change for women around the world. She said the region stands at a pivotal moment, where the African continent has the opportunity to shape the course of global recovery, and where the Global South can reimagine the social contract. 'We stand at a pivotal moment, where we can prove that leadership from our regions is not only possible – it is indispensable. Let us leave this space with a shared resolve: to structure women's voices into the heart of public policy, budgets, institutions, and outcomes,' the Minister said. Chikunga invoked the legacy of South African heroines, like Charlotte Maxeke, Ruth Mompati, and Albertina Sisulu, saying their fight for freedom serves as a reminder that 'freedom without equality is fiction.' As part of Chairship of the G20 Empowerment of Women Working Group, Chikunga said South Africa has conceptualised several empowerment programmes intended to advance, through sustained partnerships, and beyond G20 term. These include the transformative emerging industrialists accelerator, and the disability Inclusion Initiative (DII). The transformative emerging industrialists accelerator is designed to support emerging women entrepreneurs in priority sectors such as energy, maritime, defence and aerospace, platform economies, and agriculture. Participants will receive end-to-end support, from ideation and product development to financing, market access, and commercialisation, in collaboration with SOEs [State Owned Entities], private companies, and industry associations. The DII is South Africa's flagship programme to embed disability rights and inclusion across policy, institutions, and society. Anchored by the establishment of a Disability Inclusion Nerve Centre, the DII initiative will drive: • Research on inclusion across the care economy, AI, financial access, and climate adaptation;• The establishment of a National Disability Data Observatory to strengthen decision-making;• Development of early childhood disability screening protocols;• Capacity-building through disability focal points; and • Support for inclusive schooling and access-enhancing technologies.
Agriland
20-05-2025
- Business
- Agriland
DII urges ‘rapid implementation' of EU/UK deal
Dairy Industry Ireland (DII) has welcomed the agreement on the alignment of sanitary and phytosanitary (SPS) rules between the European Union and the UK. The first major post-Brexit deal between the EU and the UK was unveiled yesterday (Monday, May 19) in London. The deal is set to make food and drink imports and exports 'easier' due to a new agreement on plant and animal products. The post-Brexit deal has been described as a 'new chapter' for the UK/EU relationship and will kick start talks on a range of wider issues including security, defence and fishing access. DII Conor Mulvihill, director of Dairy Industry Ireland (DII) has called for rapid implementation of the new agreement. 'This is a significant step forward in bolstering the dairy trade both between Ireland and the UK and the island of Ireland itself, ensuring the continued prosperity of our key dairy and specialised nutrition industry. 'By removing the Brexit imposed non-tariff barriers and streamlining import requirements, the alignment will facilitate smoother and more efficient trade flows. 'This is particularly crucial for high-volume, short-distance trade with the UK, which has faced considerable disruptions since Brexit,' he said. 'The potential reduction of border checks and veterinary health certificates will reduce costs and delays, allowing our businesses to focus on delivering high-quality dairy and nutrition products without the burden of unnecessary red tape. 'The removal of trade barriers will support the reintegration of supply chains, fostering a more stable and predictable market environment. 'This will help protect the All-Ireland dairy economy, ensuring that farmers can continue to thrive and contribute to the sustainability of our rural communities,' Mulvihill added. Dairy Despite post Brexit diversification, the British market still buys almost €2 billion of Irish dairy and specialised nutrition. The market particularly strong in categories like cheddar and butter. 'In today's uncertain geopolitical landscape, maintaining strong and reliable trade partnerships with our closest neighbour is more important than ever. 'The SPS alignment agreement demonstrates a renewed commitment to cooperation and mutual benefit, reinforcing the importance of food security and economic stability for both the EU and UK. 'Dairy Industry Ireland urges both parties to swiftly implement the agreement and initiate formal discussions to ensure its success,' Mulvihill said.
BBC News
13-05-2025
- Business
- BBC News
Christmas are orders back on track after tariff truce
When President Donald Trump dramatically raised tariffs on goods from China last month, New York City retailer Morris Dweck had to respond quickly, cancelling or putting on hold 140 containers worth of items destined for the winter holiday season in six months' left his suppliers in the lurch and stranded thousands of artificial Christmas Monday, just hours after Trump walked back some of his most aggressive plans, Mr Dweck was back in touch with his suppliers, and moving ahead with other business owners, he feels a surge of relief, after the US and China announced on Monday that they would be undoing most of the tariffs announced in recent weeks, pulling back from a clash that had sent trade between the two countries plunging and raised fears of significant economic damage. The US said it would cut back the new duties from a punishing 145% to 30%. China likewise agreed to lower its retaliatory tariffs on US products to 10%, and committed to unspecified changes to other trade barriers. The changes come just in time for Mr Dweck, who owns DII, a chain of 19 discount stores in the New York area, stocked with many goods made in China. He had rushed in shipments earlier this year, packing his warehouse with enough merchandise to last him until the shock of the 145% tariffs - a cost too high to be swallowed by his company or passed onto customers - had raised the threat of empty shelves during the critical November and December festive season."If you had told us … even 30% three months ago, we would have said it was insane, that's crazy, we would never survive," he said. But now it feels like good news."It's a sigh of relief. Even though it's very dramatic, business can go on." By the end of last week trade between the US and China - America's third largest supplier of imports last year and a key source of essentials such as car seats and umbrellas - had dropped arrivals at US ports from China were down roughly 60% year-on year, according to in the US were marking up the odds of recession, as surveys of businesses and consumer confidence sank sharply. But, following the trade truce, hopes are now rising that the most significant damage might be avoided. In notes to clients published after the announcement, firms including Oxford Economics and Goldman Sachs said they now saw reduced odds of recession in the US this the tariffs might still push up prices for Americans to some degree in the months ahead, the US is likely to be spared the dramatic drop in spending and business activity that the shock of 145% tariffs seemed likely to trigger, said Ben May, director of global macro research at Oxford Economics. Markets rise as US and China agree to slash tariffsWhat does the US-China tariff deal mean?US cuts tariffs on small parcels from Chinese firms like Shein and Temu Mr Dweck said he was hopeful that his business could manage the 30% tariff. He has negotiated rebates with many suppliers and plans to cover some of the costs out of his profit margin. He is also expecting to raise prices, though just how high remains to be seen, given continued uncertainty about tariffs and the wider economy. Though he would normally have his suppliers put prices on the boxes, he is now planning to take on that task himself, once the goods arrive, even though it is less current tariff rate remains high enough that he is scouting for suppliers in other countries, as he considers making orders for next is also pushing suppliers to ship goods by August, worried that tensions might erupt again."Anything can happen between now and then," he said. Businesses in China also said they remained worried about the future. Trump said he was still pushing China to "open up" its economy for American firms and warned that tariffs could rise again - although not to 145% - if negotiations between the two countries do not make progress over the next 90 days. Tat Kei, a Chinese exporter of personal care appliances to the US, whose factory employs 200 people in Shenzhen, said his firm had welcomed the change and started moving some of the goods that had been stuck in its warehouse. But he said firms had little confidence that the current rules would stick - and feared that tensions would erupt again. "From the planning and investment perspective that is the big concern." he said."Right now there's very low confidence that things will actually be stable in the long run."
