The US services sector unexpectedly contracted in May, marking the first decline in nearly a year, according to the Institute for Supply Management (ISM). The nonmanufacturing PMI dropped to 49.9, signaling potential economic challenges ahead. Businesses are facing higher input…
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Vedanta Resources is in talks with lenders from the Middle East, Europe, and Japan to refinance a $550 million credit facility maturing in 2026. The refinancing aims to prepay a high-cost loan with an 18% coupon, potentially saving the company…
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The Reserve Bank of India’s MPC is meeting to decide on interest rates amidst easing inflation, which fell to 3.16% in April. Economists are divided, with some advocating for a 50 bps cut to boost growth, while others prefer a…
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Satellite companies refute telecom operators’ claims that Trai’s satcom spectrum pricing recommendations ignore competitive parity. Satcom firms argue differential pricing for urban and rural markets, along with increased spectrum fees, aims to level the playing field with terrestrial broadband. They…
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India has urged action against trade distortions from non-market economies and non-tariff barriers, emphasizing the need for a robust WTO dispute settlement mechanism. Piyush Goyal stressed strengthening the consensus-based approach and special treatment for developing nations. Discussions also covered agriculture,…
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President Trump has signed a proclamation to ban nationals from 12 countries from entering the U.S., citing security concerns and the need to protect against foreign terrorists. The restrictions, effective June 9, 2025, impact countries with perceived security risks and…
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