ECB targets 2029 launch for digital Euro
The European Central Bank plans to launch a digital euro in 2029, extending preparatory work after the current phase concludes. Officials will decide this week to proceed, contingent on a legal framework. Disagreements among EU lawmakers, particularly from the European People’s Party, and concerns over US payment firm dominance are creating roadblocks.
Can Supreme Industries regain momentum after cutting FY26 growth guidance?
Supreme Industries’ shares dipped following a revised FY26 volume growth guidance to 12-14% due to a tepid first half. Temporary headwinds from prolonged monsoons and slower government spending impacted demand, particularly in the plastic piping business. Despite near-term challenges, the company anticipates stronger demand and a gradual revival in the latter half of FY26.
RBI’s forex strategy yields better results than IMF approach, says deputy governor Poonam Gupta
Reserve Bank of India deputy governor Poonam Gupta defended the central bank’s currency management strategy. She stated that building foreign exchange reserves and intervening in the currency market yield better outcomes. Gupta also indicated that there is scope for easing monetary policy. This is due to growth being below aspirations and inflation remaining benign.
RBI draft norms aim to speed up cross-border remittances, mandate same-day credit
The Reserve Bank of India has proposed measures to speed up cross-border inward remittances, aiming for same-day credit to beneficiaries’ accounts. Banks will be required to reconcile nostro accounts near real-time and implement straight-through processing for faster settlements, with new guidelines taking effect six months after finalization.
A divided Fed cuts rate by 25 bps, sets end to balance-sheet runoff
The Federal Reserve has again cut interest rates by a quarter percentage point, citing a softening labour market and rising employment risks. Policymakers also announced an end to shrinking their asset portfolio by December 1. While economic growth is described as moderate, inflation remains elevated.
Indices hit 13-month high on hopes of India-US trade deal
Indian stock markets reached 13-month highs on Wednesday, fueled by optimism surrounding a potential US-India trade deal and anticipation of a US Federal Reserve interest rate cut. Both Nifty and Sensex saw significant gains, with analysts predicting further all-time highs driven by strong performance in IT, BFSI, and Oil and Gas sectors.
Sebi’s fee cut proposal sparks selloff in AMCs, brokerage stocks
Mutual fund fees and brokerage caps proposed by the capital markets regulator sent shares of brokerage firms and asset management companies tumbling. Investors fear a significant hit on revenues and profitability, with Jefferies estimating a 30-33% earnings impact on some AMCs. Mutual fund officials anticipate brokerages and distributors will bear the brunt of these changes.
Quess Corp Q2 Results: Revenue up 3%, headcount rises by 21,000
Quess Corp reported a 3% year-on-year revenue increase to ₹3,832 crore in Q2FY26, with EBITDA reaching a record ₹77 crore, up 11%. Growth was primarily driven by the General Staffing segment, which added 21,000 employees, and strong performance in Professional Staffing, particularly in the GCC segment.
Jefferies warns Sebi’s mutual fund fee cuts could shave up to 10% off AMC profits
Jefferies warned that Sebi’s proposed mutual fund fee revamp could trim AMC profits by up to 10% from FY27. The brokerage said cuts to exit load charges, brokerage fees, and total expense ratios may pressure earnings at top players like HDFC AMC and Nippon Life AMC.
Akasa Air will look at IPO in next 2-5 years, says CEO Vinay Dube
Akasa Air will look at an initial public offering in the next two to five years, its Founder and CEO Vinay Dube said on Wednesday and asserted that the airline will not chase “growth for the sake of growth”.