(RTTNews) - Asian markets are trading mostly lower on Thursday, despite the broadly positive cues from Wall Street overnight, as the U.S. President Donald Trump's highly anticipated address to the nation on the war in the Middle East damped hopes for a swift resolution to the con
(RTTNews) - Asian markets are trading mostly lower on Thursday, despite the broadly positive cues from Wall Street overnight, as the U.S. President Donald Trump's highly anticipated address to the nation on the war in the Middle East damped hopes for a swift resolution to the con
India banned its banks from offering the most popular instrument for trading the rupee offshore, threatening to squeeze a $149 billion-a-day market in an extreme step to shore up its tumbling currency. The Reserve Bank of India has rolled out some of its toughest measures in more than a decade to curb speculation and support the currency, which has been setting successive record lows this year. Th...
India banned its banks from offering the most popular instrument for trading the rupee offshore, threatening to squeeze a $149 billion-a-day market in an extreme step to shore up its tumbling currency. The Reserve Bank of India has rolled out some of its toughest measures in more than a decade to curb speculation and support the currency, which has been setting successive record lows this year. The pressure has intensified since the Iran war accelerated the rupee’s decline. The first move came late Friday, when regulators capped lenders’ daily onshore currency positions at $100 million. That decision sent banks scrambling to unwind at least $30 billion in arbitrage trades. When that failed to stop the rupee from hitting a new low, they prohibited banks from offering certain non-deliverable derivative contracts — a market that trades on average $149 billion offshore a day, about twice the size of its onshore equivalent. “This is again a signal that the central bank is willing to consider harsh steps that are nevertheless regressive and that its focus is on the stability of the rupee rather than liquidity for now,” said Abhishek Upadhyay , an economist at ICICI Securities Primary Dealership. The risk is that such moves may undercut years of efforts to deepen India’s currency markets and improve price discovery. Liquidity across both onshore and offshore markets has expanded in recent years, a key factor in attracting foreign investors, and aligns with Prime Minister Narendra Modi ’s broader push to boost the rupee’s global use. Any sustained clampdown may deter participation, increase costs and ultimately make it harder for businesses and investors to hedge currency risk. The measures amount to a coordinated push to flush out excess bearish rupee positions and speculative trades across the market, according to Kunal Sodhani , head of treasury at Shinhan Bank Ltd. in Mumbai. This may come at the cost of reduced liquidity and wider spreads between the onshore and offsho...
Oracle has begun laying off employees across multiple regions as the cloud technology giant restructures its workforce while investing heavily in artificial intelligence. Employees began receiving layoff notifications on Tuesday, March 31, according to a Business Insider report citing internal ...
Oracle has begun laying off employees across multiple regions as the cloud technology giant restructures its workforce while investing heavily in artificial intelligence. Employees began receiving layoff notifications on Tuesday, March 31, according to a Business Insider report citing internal ...
Broadcom co‑founder and Director Henry Samueli reported a record insider sale of NasdaqGS:AVGO shares in a March 27 SEC filing. The transaction occurred shortly before a clear decline in Broadcom's share price. Large insider sales by founding executives often draw attention from investors who watch for potential shifts in sentiment or personal liquidity moves. Broadcom enters this development with...
Broadcom co‑founder and Director Henry Samueli reported a record insider sale of NasdaqGS:AVGO shares in a March 27 SEC filing. The transaction occurred shortly before a clear decline in Broadcom's share price. Large insider sales by founding executives often draw attention from investors who watch for potential shifts in sentiment or personal liquidity moves. Broadcom enters this development with a current share price of $313.49 and a very large 5‑year return of about 7x. Over the past...
In late March 2026, Palantir Technologies Inc. announced a renewed five-year partnership with Stellantis that expands the automaker’s use of the Foundry platform and introduces the Artificial Intelligence Platform into select functions and regions to industrialize data and AI across its global operations. At the same time, the Pentagon’s move to formalize Palantir’s Maven AI system as a program of...
In late March 2026, Palantir Technologies Inc. announced a renewed five-year partnership with Stellantis that expands the automaker’s use of the Foundry platform and introduces the Artificial Intelligence Platform into select functions and regions to industrialize data and AI across its global operations. At the same time, the Pentagon’s move to formalize Palantir’s Maven AI system as a program of record underscores the company’s growing role as core infrastructure for long-term military and...
This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. An independent committee investigating the cause of Hong Kong’s deadliest inferno in decades is expected to conclude its first round of evidential hearings on Thursday, with the role of the property management firm at blaze-hit Wang Fuk Court under scrutiny. La...
This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. An independent committee investigating the cause of Hong Kong’s deadliest inferno in decades is expected to conclude its first round of evidential hearings on Thursday, with the role of the property management firm at blaze-hit Wang Fuk Court under scrutiny. Lam Man-yan, technical officer with ISS EastPoint - the property manager of the Tai Po housing estate...