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BusinessPhoto: ET MarketsEmerging Asian currencies including South Korea's won, Taiwan dollar, Philippine peso, and Indonesian rupiah weakened due to hotter-than-expected US inflation data. This revived concerns about Federal Reserve rate hikes, strengthening the US dollar and causing a sell-off in AI-linked stocks. Capital outflows and rising borrowing costs pressured these currencies further.
ET Markets·
BusinessPhoto: News18Hi BusinessAkash Ambani stated that Jio's EBITDA has reached ₹76,000 crore before its IPO. The company has maintained a growth rate of around 18% over the past three years. Jio's strategy focuses on customers, emphasizing affordable digital services, a goal it has successfully achieved since its inception by prioritizing low-cost data.
News18Hi Business·
EntertainmentPhoto: TOI WorldPhiladelphia's Magic Gardens, created by Isaiah Zagar, is a 3,000-square-foot mosaic maze made from found objects reflecting his artistic journey. In 2004, local advocates formed a nonprofit to save the site from demolition. Zagar continued adding imaginative tunnels and mosaics until his death in 2026, enriching this vibrant artistic landmark.
TOI World··Philadelphia
BusinessPhoto: HT WorldUS Treasury yields declined on Thursday as investors sought safer assets amid economic uncertainty. The 10-year Treasury yield dropped below 5.11%, falling more than 8 basis points to 5.102%. The 30-year yield also fell by over 8 basis points to 5.439%, and the 2-year yield decreased by more than 5 basis points to 4.751%. Investors sold some tech stocks and moved funds into government bonds while awaiting inflation data to gauge the US economy's direction.
HT World·
BusinessPhoto: MintThe Indian government has launched the Promotion of Research and Innovation in Pharma & MedTech scheme with a total budget of ₹5,000 crore. This includes ₹700 crore to establish Centers of Excellence at seven National Institutes of Pharmaceutical Education & Research and ₹4,200 crore to boost investments in research and development, offering startups up to ₹50 crore for new drug discovery.
Mint·
PoliticsPhoto: The News MinuteTamil Nadu's government decision to buy power at Rs 37 per unit, the highest ever in the state, has sparked political controversy. The Tamilaga Vettri Kazhagam government attributes the high cost to a 30% surge in peak power demand due to an extended summer caused by El Niño. Critics question planning and compare it to Andhra Pradesh's earlier measures to manage similar demand.
The News Minute··Tamil Nadu
ET Markets·
Photo: ET MarketsEmerging Asian currencies including South Korea's won, Taiwan dollar, Philippine peso, and Indonesian rupiah weakened due to hotter-than-expected US inflation data. This revived concerns about Federal Reserve rate hikes, strengthening the US dollar and causing a sell-off in AI-linked stocks. Capital outflows and rising borrowing costs pressured these currencies further.
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