Indian IT exporter LTIMindtree bags $450 million deal, its largest-ever
May 12 (Reuters) - Indian software services exporter LTIMindtree (LTIM.NS), opens new tab bagged a $450 million multi-year deal, its largest-ever, the company said on Monday.
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Reuters
39 minutes ago
- Reuters
Impact of India's large rate cut may be limited, says rate panel member
MUMBAI, June 23 (Reuters) - The immediate incremental impact of an additional 25 basis-point rate cut delivered earlier this month by the Reserve Bank of India's monetary policy committee may be relatively limited, external member Saugata Bhattacharya told Reuters on Monday. The MPC delivered a larger-than-expected 50-bp rate cut in June to bolster economic growth as inflation remained below target. "Interest rates transmission also works through a transfer of disposable incomes across various economic stakeholders," Bhattacharya, the only member to vote for a 25-bp rate cut said while sharing his personal views. He said the most crucial shift will be to micro, small and medium enterprises (MSME) and home loan borrowers from retail depositors. "These shifts are likely to accumulate over the course of the year. How the relative marginal propensities to consume and save play out will determine inter alia changes to the credit multiplier and hence deposit and loan growth," he added. Bhattacharya said inflation is likely to align with the RBI's 4% target on a durable basis in the coming quarters. "Although the overall picture remains mixed, many high-frequency economic indicators also suggest continuing growth resilience," he said, adding that the RBI's forecast of GDP growth at 6.5% for fiscal year 2026 precluded the need for a deeper rate cut given current global uncertainty. There may be space for more "good news" rate cuts, but Bhattacharya said he would "prefer a more gradual and calibrated path over this easing cycle". The RBI's June policy actions should be seen as a step towards propelling growth to a higher aspirational trajectory, Governor Sanjay Malhotra had said in a post-policy briefing, adding that the country would like to achieve 7%-8% growth. Bhattacharya said he would like to assess the effects on aggregate demand from the government's policy initiatives, particularly income tax cuts, as well as price and income support on demand revival. Bringing short-term money market rates and overnight rates a little closer to the floor of the monetary policy corridor is probably needed at this point to accelerate the transmission of the policy rate into bank lending and deposit rates, Bhattacharya said. Once transmission begins to align with the intended easing cycle, liquidity can then be calibrated, which the RBI has done in the past through various instruments to bring overnight rates closer to the policy rate, he added.
Daily Mail
an hour ago
- Daily Mail
Oil prices surge as Iran maintains global shipping route threat
Oil prices have surged as Iran maintains its threat to close its global shipping route after Donald Trump blew up the country's nuclear bases. Asian markets traded lower today amid concerns of disruption to energy markets after the US air strikes 'obliterated' Iran's nuclear facilities on Saturday night. The dollar strengthened as traders assessed the weekend's events, with Iran threatening US bases in the Middle East as fears grow of an escalating conflict in the volatile region. Iran is the world's ninth-biggest oil-producing country, with output of about 3.3million barrels per day. It exports just under half of that amount and keeps the rest for domestic consumption. If Tehran decides to retaliate, observers say one of its options would be to close the strategic Strait of Hormuz - which carries 20 per cent of global oil output. Brent crude futures were up $1.52 or 1.97 per cent to $78.53 a barrel as of 6am UK time. US West Texas Intermediate crude advanced $1.51 or 2.04 per cent to $75.35. Both contracts jumped by more than 3 per cent earlier in the session to $81.40 and $78.40, respectively, touching five-month highs before giving up some gains. Economists at MUFG warned of 'high uncertainty of the outcomes and duration of this war', publishing a 'scenario analysis' of an oil price increase of $10 per barrel. 'An oil price shock would create a real negative impact on most Asian economies' as many are big net energy importers, they wrote, reflecting the market's downbeat mood. Tokyo's key Nikkei index was down 0.6 per cent at the break, with Hong Kong losing 0.4 per cent and Shanghai flat. Seoul fell 0.7 per cent and Sydney was 0.8 per cent lower. The dollar's value rose against other currencies but analysts questioned to what extent this would hold out. 'If the increase proves to be just a knee-jerk reaction to what is perceived as short-lived US involvement in the Middle-East conflict, the dollar's downward path is likely to resume,' said Sebastian Boyd, markets live blog strategist at Bloomberg. US Defense Secretary Pete Hegseth said on Sunday that the strikes had 'devastated the Iranian nuclear programme', though some officials cautioned that the extent of the damage was unclear. It comes after Israel launched a bombing campaign against Iran earlier this month. Chris Weston at Pepperstone said Iran would be able to inflict economic damage on the world without taking the 'extreme route' of trying to close the Strait of Hormuz. 'By planting enough belief that they could disrupt this key logistical channel, maritime costs could rise to the point that it would have a significant impact on the supply of crude and gas,' he wrote.
Geeky Gadgets
an hour ago
- Geeky Gadgets
Samsung Galaxy Z Fold 7 vs Fold 6
Samsung is preparing to unveil its latest advancements in foldable technology, the Galaxy Fold 7, at the highly anticipated Unpacked event on July 9, 2025. At the forefront of this showcase is the Galaxy Z Fold 7, a device designed to push the boundaries of what foldable smartphones can achieve. With significant improvements in weight, thickness, and display technology, the Z Fold 7 aims to set a new benchmark for innovation and usability. However, some design choices, such as the return of the hole-punch camera, are likely to generate mixed reactions among users. Watch this video on YouTube. Galaxy Z Fold 7: A Leap Forward in Design and Functionality The Galaxy Z Fold 7 is rumored to be Samsung's lightest and thinnest foldable smartphone to date. Weighing just 215 grams and boasting an unfolded thickness of 4.54 mm, this device addresses long-standing concerns about the bulkiness of foldable phones. These refinements are expected to significantly enhance portability and comfort, making the Z Fold 7 a more practical option for daily use. Samsung has also focused on improving the display technology of the Z Fold 7. Reports suggest that the visibility of the crease—a common issue in foldable screens—has been minimized, offering a smoother and more immersive viewing experience. This improvement could make the device more appealing to users who prioritize screen quality. However, the return of the hole-punch camera design, rather than an under-display camera, has sparked debate. While the hole-punch camera is known for delivering superior image quality, it interrupts the seamless display, which may disappoint users who value aesthetics over functionality. Other Highlights: Galaxy Z Flip 7 and Galaxy Watch 8 In addition to the Galaxy Z Fold 7, Samsung's Unpacked event will feature the Galaxy Z Flip 7, a foldable smartphone celebrated for its compact and stylish design. The Flip 7 is expected to include an upgraded front display, enhancing its usability for quick tasks such as checking notifications, interacting with widgets, or taking selfies. This enhancement could further cement the Z Flip series as a versatile and fashionable alternative to traditional smartphones. Another key announcement is the Galaxy Watch 8 lineup. While official details remain scarce, rumors suggest that the new smartwatch will feature refined aesthetics and improved health-tracking capabilities. These updates could make the Galaxy Watch 8 a strong contender in the wearable technology market, appealing to users who seek a balance between style and functionality. The Mystery Foldable Device: A Bold Step Into the Future Adding an element of intrigue to the event is speculation about a mystery foldable device. Samsung has kept details about this product tightly under wraps, fueling curiosity and excitement. This device could represent the company's exploration of new form factors or innovative functionalities. Whether it takes the form of a tablet-like foldable or a more compact design, this announcement could signal a bold step forward in foldable technology. For users, it offers a glimpse into the future of mobile devices and how they might evolve to meet changing needs. Why Samsung Unpacked 2025 Is Worth Your Attention The Unpacked event on July 9, 2025, promises to be a defining moment for Samsung as it continues to lead the foldable and wearable technology markets. The Galaxy Z Fold 7, with its lightweight design and improved display features, is positioned to be a standout product. Alongside the Z Flip 7, Galaxy Watch 8, and the potential unveiling of a mystery foldable device, Samsung is set to showcase a range of innovations that could reshape how you interact with technology. This event is an opportunity to explore innovative advancements and consider how they align with your preferences and lifestyle. Gain further expertise in Samsung Galaxy Z Fold 7 by checking out these recommendations. Source & Image Credit: Demon's Tech Filed Under: Gadgets News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
