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Commerce Minister Piyush Goyal emphasized the need for stronger political support to expedite the conclusion of the proposed foreign trade agreement (FTA) between India and the European Union during discussions with French Minister Sophie Primas. The meeting, which focused on trade, investment, and ongoing negotiations for the FTA, Investment Protection Agreement, and Agreement on Geographical Indications, marked the first engagement between the ministers under Prime Minister Modi’s third term and the new French government led by President Macron.
A senior Turkish central banker indicated that the country anticipates fewer interventions in the foreign-exchange market as inflation slows. During meetings in London, Deputy Governor Cevdet Akcay expressed optimism that improving inflation and financial stability metrics will allow for a less interventionist currency regime.
Altice International has revised its earnings forecast downward, anticipating EBITDA of approximately €1.6 billion ($1.7 billion) for the 2024 financial year. This marks a decline from the previous estimate of €1.86 billion, reflecting ongoing challenges within the telecommunications sector.
France faces a potential humiliation in financial markets as budget chaos escalates. Meanwhile, the UK grapples with rising inflation, complicating the new Labour government's economic challenges. The euro and pound have fallen sharply following Trump's victory, impacting various sectors differently.
Commerce Minister Piyush Goyal highlighted that India and France's bilateral trade, valued at $15 billion in FY24, remains at a "suboptimal level." He emphasized the need for enhanced collaboration through bilateral agreements and multilateral platforms to boost trade and address challenges like climate change.
Argentine investors are increasingly opting for longer-duration peso savings and investments, reflecting growing confidence in President Javier Milei's ability to tackle inflation and stabilize the exchange rate. This shift is evident as traders seek longer maturities in fixed-rate peso bonds and deposit savings for extended periods, anticipating lower interest rates.
In a volatile session on November 27, the Sensex rose by 230.02 points to close at 80,234.08, while the Nifty gained 82.20 points, ending at 24,276.70. The rally was driven by gains in energy, auto, metal, and bank stocks, alongside a notable recovery in Adani Group shares, which surged by up to 12 percent. Despite some laggards like Titan Company and Wipro, market sentiment improved with indications of foreign institutional investors becoming net buyers.
Emerging-market stocks rebounded, driven by speculation of new stimulus measures from China amid potential US tariffs. The MSCI Emerging Markets Index reversed a 0.4% decline to rise 0.3% by 7:33 a.m. in London, with notable gains from Tencent Holdings, Meituan, and Alibaba Group.
Donald Trump’s impending tariff policies could significantly impact India’s key export sectors, including steel, textiles, and electronics. While India has not yet faced direct tariffs, experts remain vigilant about potential changes that could affect the country's economy as Trump targets major trading partners like Canada, Mexico, and China.
Fresh US sanctions targeting around 50 Russian banks have led to a significant decline in the ruble, which has fallen over 5% since November 21. The currency has now surpassed 105 per dollar, marking its weakest point since March 2022, following the initial sanctions imposed after the invasion of Ukraine.
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