US stock and bond markets will close on Monday, January 20, 2025, for Martin Luther King Jr. Day, resuming normal operations on January 21.
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InterGlobe Air Transport Limited has been named the exclusive General Sales Agent for Oman Air in India. This partnership will enhance Oman Air's presence in the Indian market, providing extensive sales, service support, and superior travel experiences. InterGlobe already represents multiple international airlines, ensuring seamless connections and exceptional service for passengers traveling between India and Oman.
According to the RBI, India's credit-to-GDP ratio was 90.1% in 2022, indicating potential for higher credit growth compared to advanced and emerging markets. This growth can boost economic development. The analysis also finds that income growth positively impacts bank deposits.
Godavari Biorefineries is investing Rs 130 crore in a new 200 KLPD corn/grain-based distillery to boost ethanol production. The facility, expected to be operational by March 2026, will provide dual-feedstock capability, enhancing flexibility and resilience against climate-related disruptions. This investment will help meet the increasing demand under India's ethanol blending program.
India's goods exports marginally increased to $437.4 billion in 2024-25, possibly influenced by anticipatory shipments before potential US tariffs. Despite global challenges, total goods and services exports rose by 6% to $820 billion, with non-oil exports reaching a record $374 billion. Engineering and electronics exports saw significant growth, highlighting India's resilience in a tough economic climate.
The Mahindra group launches SOAR, a unique returnship program aimed at reintegrating women who took career breaks into mainstream roles. The initiative seeks to address gender disparity by offering permanent roles, mentorship, and training. The move follows industry trends to enhance female labor participation rate and reduce the gender gap.
The rupee fell 51 paise, closing at 87.2 per US dollar, marking its sharpest decline in three weeks. Regional currency weakness, importer hedging, and dollar demand pressured the currency. The fall is linked to the expiry of NDF contracts and weak sentiment in Asian markets. Analysts expect the rupee to depreciate further with the pace depending on RBI's interventions and foreign outflows.
On Tuesday, the sensex and Nifty closed lower for the fifth straight session due to weak global and domestic cues. Trump’s tariffs and ongoing US trade policy uncertainty, along with a weak rupee and continuous foreign fund outflows, impacted market sentiment. Sensex dropped by 1,018 points, Nifty by 310, and mid- and small-cap indices saw significant losses.
India's G20 presidency has bolstered its global economic image through showcasing strengths and attracting FDI. Significant achievements include promoting digital public infrastructure and hosting large-scale international events. India's strategic stance in negotiations and commitment to consensus highlights its influential role, with future G20 success reliant on sustained inclusive, ambitious and action-oriented approaches.
The Adani Group has increased its offer for sale (OFS) in Adani Wilmar to 20% due to strong investor interest, reducing its stake to 24%. The sale is expected to generate at least Rs 7,150 crore. Wilmar will own 68% of Adani Wilmar post-transaction, and intends to leverage the company's distribution network for its FMCG portfolio.
Global stock markets show a strong rally. The Dow Jones, NASDAQ, and S&P 500 increase. Gold and oil prices also rise. Donald Trump announces a pro bono legal service agreement. US wholesale prices drop, but trade tensions between the US and China escalate. China plans to file a complaint with the World Trade Organization.