IATA forecasts airlines to achieve a combined profit of $36 billion in 2025, a rise from $32.4 billion in 2024. Director General Willie Walsh cautioned against geopolitical disputes affecting airspace and highlighted supply chain challenges. India hosted the AGM for the first time in 42 years, with the next one scheduled for Brazil in 2026.
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A recent US Commerce Department report indicates a slowdown in inflation, with consumer prices rising just 2.1% in April. This decline occurs amidst concerns that former President Trump's tariffs could drive prices higher.
In response to US tariffs, a NITI Aayog paper suggests India selectively lower tariffs on non-sensitive US agricultural imports and offer concessions where supply gaps exist, like in edible oils. It also recommends negotiating greater US market access for Indian exports such as shrimp and spices.
IndiGo and Bangalore International Airport Ltd. (BIAL) have partnered to establish a dedicated MRO facility at Kempegowda International Airport, Bengaluru, with BIAL allocating 31 acres for the project. This collaboration aims to bolster Bengaluru's status as a premier aviation hub and supports IndiGo's fleet expansion plans, including long-haul operations and new domestic destinations.
Bharat has formally requested consultations with the United States under the WTO. This challenges American tariffs on automobile parts. The move follows Bharat's earlier decision to reserve the right to impose retaliatory duties on select US goods. This is in response to Washington’s tariffs on steel and aluminium. Bharat seeks to discuss the implications of the US measure.
Economist S Mahendra Dev assumes the role of Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), filling the vacancy since November. The council has been reconstituted for two years, retaining full-time members and inducting new part-time members. Dev, a development economist, brings extensive experience from academia and the financial sector.
Indian equities experienced a significant surge in May, propelled by strong performances in defence stocks and microcaps. The Nifty 50 rose by 1.71%, while the Nifty Microcap 250 soared by 12.10%. Investor optimism was further fueled in June by a surprise rate cut from the RBI, boosting rate-sensitive sectors.
Eternal Limited shares saw a significant jump. This surge follows Morgan Stanley's positive outlook. Eternal's Q4 earnings showed a profit decline. However, operational revenue increased substantially. The company remains a key player on the Nifty50. Other gainers included Power Grid and Reliance Industries. Some companies like Bajaj Finance experienced declines.
The revamped PM SVANidhi scheme is set to offer street vendors higher subsidised loans and credit cards with a Rs 30,000 limit, thanks to bank participation. Rural vendors migrating to cities will also benefit from these loans, with an additional Rs 10,000 potentially included. This initiative aims to provide accessible capital and reduce reliance on high-interest informal loans.
American labour unions are resisting Artificial Intelligence. They want transparency and legal protection for workers. Unions fear job losses due to AI automation. Some unions have secured AI usage agreements. A lawsuit against Google and Character.AI is proceeding in the US. It alleges an AI chatbot's role in a teenager's suicide. This raises concerns about AI accountability.
Following recent turmoil stemming from incorrect derivative trade recognition, the Institute of Chartered Accountants of India (ICAI) will scrutinize IndusInd Bank's financial statements. The Financial Reporting Review Board (FRRB) will conduct the review for the fiscal years 2023-24 and 2024-25 to ensure compliance with accounting and auditing standards.