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Time of India
19 hours ago
- Business
- Time of India
Vijay Mallya's INR 40 lakh limited-edition watch steals spotlight in viral podcast appearance
Vijay Mallya's recent podcast appearance sparked attention, not only for his insights into the Kingfisher Airlines saga and potential return to India but also for his choice of wristwear. He sported a Hublot King Power F1 India, a limited-edition rose gold watch valued at approximately $47,400, showcasing his enduring taste for luxury amidst ongoing legal challenges. Vijay Mallya is back in the spotlight but this time, not just for his words. The flamboyant former tycoon, infamous for the rise and crash of Kingfisher Airlines, made a rare public appearance on entrepreneur Raj Shamani's podcast, where he opened up about his journey, his IPL team Royal Challengers Bangalore, and the financial storm that has followed him since 2016. But amid all the headlines his statements have sparked, fashion and watch enthusiasts couldn't help but zoom in on the ultra-luxury timepiece he wore for the occasion. Seated in a sombre-hued full-sleeve shirt, Mallya kept his outfit understated but let his wrist do the talking. He was spotted wearing the Hublot King Power F1 India, a show-stopping rose gold watch that is as exclusive as it is expensive. Only 200 pieces were ever created to mark the Indian Grand Prix, and Mallya's piece is crafted from 18K King Gold, a red-gold alloy unique to the Swiss watchmaker. With a price tag of approximately $47,400 (₹40.66 lakh), the watch is not just an accessory, it's a statement. The Hublot King Power F1 India boasts a 48 mm case, black ceramic and gold bezel, and a rubber-Nomex strap that's a nod to its racing heritage. Inside, it's powered by the brand's robust HUB4100 automatic chronograph movement, offering hours, minutes, seconds, and date functions with surgical precision. Sapphire crystal, a transparent case back, and 100m water resistance elevate the watch into true collector's territory. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Direct shopping From Adidas Franchise Store... Adidas Buy Now Undo This is luxury built for performance, and Mallya wears it like second skin. During the podcast, Mallya also addressed the possibility of returning to India - n the condition of a fair trial. 'There are others India is seeking to extradite from the UK… the courts have found Indian detention conditions in breach of the European Convention on Human Rights,' he said, raising eyebrows and igniting fresh debates online. Mallya's appearance has triggered a viral wave, not only for his first-hand insights into one of India's biggest financial scandals but also for his unabashed display of opulence. While his legal troubles are far from over, his taste for luxury remains firmly intact, reminding the world that when Mallya speaks, he still does so in style. One step to a healthier you—join Times Health+ Yoga and feel the change
Globe and Mail
11-02-2025
- Business
- Globe and Mail
How Did Markets React to the Latest Round of Tariff Announcements?
Late Monday, the US president finally got around to making the much-ballyhooed announcement of 25% tariffs on all steel and aluminum imports to the Unite States. Both the US dollar index and US stock index futures had already priced in the latest round of the endless game during Monday's session. However, gold extended this week's early rally to as much as $80 before taking a breather. Morning Summary: It took a while Monday, but the US president eventually got around to putting the much-ballyhooed 25% tariffs on all steel and aluminum imports to the United States. Now we'll wait to see what the retaliation is from US trade partners, then the retaliatory announcements from the US president to the retaliation, and so on in and endless circle. What are markets doing since the latest announcement? After firming Monday, the US dollar index is slightly weaker pre-dawn Tuesday. The same thing can be said for US stock index futures as markets showed small losses at this writing. As for the 3 Kings of Commodities, the latest from the US president didn't have much of an effect. WTI crude oil extended Monday's rally overnight with the spot-month contract adding as much as $1.01 (I always feel that $0.01 is important). Additionally, gains of 1.2% to 1.4% were consistent across the Energies sector. King Gold took a breather following Monday's climb with the more heavily traded April contract down $2.80 to start the day. It's interesting to note April (GCJ25) initially saw follow-through buying overnight, rallying as much as $34.10 and extending the early week gain to $80.90 before pulling back a bit. Corn: The third King of Commodities – King Corn – had a quiet overnight session with contracts sitting fractionally lower early Tuesday morning on light trade volume. The nearby March issue posted a 2.5-cent trading range, from up 0.5 cent to down 2.0 cents while registering less than 17,000 contracts changing hands. May is showing fewer than 12,000 contracts traded as it also posted a 2.5-cent trading range. Will things spring to life around midday Tuesday? Most likely. The latest round of USDA's monthly Supply and Demand imaginary numbers are set for release at noon (ET), as if Watson didn't have enough to do trying to relearn to ignore the madness from Pennsylvania Avenue. Fundamentally, the corn market hasn't changed much. I had a question come in Monday evening regarding corn's latest available stocks-to-use readings. At the end of January, with the National Corn Index ($CNCI) priced near $4.50, corn's available stocks-to-use was 12% as compared to the end of December's 12.3%. Monday evening saw the Index calculated near $4.5875 putting the latest available stocks-to-use figure at roughly 11.9%. My Monday evening national average basis calculations came in at 32.75 cents under March and 45.75 cents under May futures, generally unchanged from last Friday's figures. Soybeans: The soybean market was quietly in the green to start the day. The nearby March issue posted a 7.0-cent trading range overnight, from down 3.5 cents to up 3.5 cents on trade volume of 12,500 contracts and was sitting 2.0 cents higher at this writing. In fact, March through July were all showing a gain of 2.0 cents with trade volume readings falling to 7,200 contracts for May and 2,000 contracts of July. Given we are nearing the midpoint of February with the Goldman Roll and Brazil's harvest ongoing, attention is turning to the first deferred May issue (ZSK25). There continues to be chatter about harvest delays across parts of Brazil due to rain. This hasn't had much of an effect on the May-July soybean futures spread [i], though. Recall last Friday saw the deferred spread covering 55% calculated full commercial carry as compared to the previous week's close when it covered 53%. For the record, the two week's prior saw the May-July covering 40% and 37% respectively, meaning we can see a clear trend. On the other hand, my Monday evening national average basis calculations came in at 64.25 cents under March and 80.25 cents under May futures, both roughly 0.25 cent firmer than last Friday's figures. Wheat: The wheat sub-sector was higher across the board. This is not a shocking development given all three markets closed lower to start the week. Fundamentally, not much has changed with the three markets as all seem to be trying to make their way through the relatively dull winter season. If there is something to watch with old-crop it would be the ongoing Variable Storage Rate tracking period (through Friday, February 21) for winter wheat, with the spotlight on the SRW March-May futures spread. Through Monday's close, the running daily average was 56% calculated full commercial carry, holding above the low end 50% that would trigger a decrease in the official rate come March 19. (Can you tell there really isn't much to talk about with wheat?) Anyway, both new-crop winter markets remain neutral-to-bearish with the SRW July-September spread covering 61% while the same spread in the HRW market covered 76% at Monday's close. Keep in mind the bearish threshold is 67%. Further out, the September-December HRW spread covered 68% as we wait for the crop to come out of dormancy. For the record, March SRW was sitting 4.0 cents higher to start the day, 0.5 cent off its session high on light trade volume of about 5,300 contracts. [i] However, these same Brazilian soybean harvest delays are having an effect on the May-July corn futures spread as planting of Brazil's second corn crop – the safrinha crop – is pushed back as well. This is part of Rule #4A (A market that can't go down won't go down) that I've talked about recently in corn.
