Author: Editor-In-Chief

A man walks past the HDFC Bank stall at the Global FinTech Fest in Mumbai, India on September 6, 2023. Null Photo | Null Photo | Getty ImagesShares of India’s largest private financial company HDFC Bankalong with those of axis bankfell nearly 5% on Monday as concerns grew over weak net interest margins.HDFC’s NIM decreased by 13 basis points from the previous quarter to 3.4% from 3.53% in the previous quarter. Axis Bank’s NIM was 3.46% in the April-June quarter, down 16 basis points from a quarter earlier.Citigroup said in a report on Sunday that “NIM compression due to fee…

Andy Burnham, the former mayor of Greater Manchester in north-west England, will replace Keir Starmer with the support of ruling Labor Party MPs. Just last month, Mr Burnham won a key by-election in Makerfield, north-west England, the US equivalent of a special election, which began with the sole purpose of running for leadership of the Labor Party as a sitting MP. Less than two years after Labour’s landslide general election victory, Mr Starmer’s authority has crumbled, while Nigel Farage’s populist right-wing Reform UK party and the populist left-wing Green Party have soared in the polls. Allies said Mr Burnham was…

This photo shows an aircraft of the Irish low-cost airline Ryanair parked at Thessaloniki Airport “Macedonia” in Thessaloniki on May 7, 2026.Sakis Mitrolidis | AFP | Getty Imagesryanair The low-cost airline reported a 34% drop in first-quarter profits as consumers delayed bookings amid the Middle East crisis, and struggling European airlines warned on Monday that they faced a “hard winter” ahead.The company’s after-tax profit for the April-June period was 538 million euros ($615.3 million), down from 820 million euros a year earlier. Ryanair said 20% of its unhedged fuel oil was exposed to price increases and ticket fares fell 6%.…

Commodity strategists have warned that markets are underestimating the impact of climate change across asset classes, as Europe faces a heat wave and meteorologists warn of the risk of a strong El Niño this year.The World Meteorological Organization predicts that a “strong El Niño” event will occur in the tropical Pacific Ocean from July to September this year. El Niño is a naturally occurring climate pattern that increases sea surface temperatures in certain regions and is often associated with extreme weather events.Investment strategists say the high temperatures, droughts, heavy rains and other extreme weather events caused by El Niño will…

Kuwait’s Ministry of Electricity, Water and Renewable Energy announced on Sunday that Kuwait’s power generation and desalination facilities were attacked by Iran for the second consecutive day. On Saturday, Iranian state officials said the country’s desalination facilities were also damaged by a U.S. missile attack. CNN called on the US military to respond. This plant, which converts seawater into drinking water, is essential in the Middle East, providing a critical lifeline and supporting certain remote areas from drought. Some countries in the region rely on desalination for almost all of their drinking water. In Kuwait and Oman, desalination accounts for…

Spain reclaimed soccer’s biggest prize on Sunday by defeating Argentina 1-0 in extra time in a tense World Cup final that featured intense drama both on and off the pitch. Ferran Torres’ decisive strike sealed the match, ending Argentina’s title defense and giving Spain their second World Cup crown.This loss was particularly painful for Lionel Messi. Messi left the field in tears after winning his runner-up medal in what was expected to be his final World Cup appearance.US President Donald Trump also attended the medal and trophy presentation ceremony, along with FIFA President Gianni Infantino, and the leaders of co-hosts…

Over the past week, the conflict between the United States and Iran has gone from a state of smoldering retaliation to something more akin to all-out war. US President Donald Trump last week threatened to escalate the war if Iran did not stop attacking ships passing through the Strait of Hormuz. In recent days, the United States has expanded its targeting beyond Iranian coastal areas where radar and drone facilities are located, as well as roads, tunnels, railways, port infrastructure and, according to Iranian media, desalination plants. Meanwhile, Iran has expanded its target list to seven countries in the region,…

Five platforms are seen over the Johan Sverdrup oil field in the North Sea, about 140 kilometers west of the Norwegian town of Stavanger, on December 3, 2019, in an aerial photo taken from a helicopter during a media visit. (Photo by Tom LITTLE/AFP) (Photo by TOM LITTLE/AFP, Getty Images)Tom Little | AFP | Getty ImagesOil prices rose on Monday as the U.S.-Iran conflict raised concerns about disruption to energy shipments through the Strait of Hormuz following renewed U.S. attacks and U.S. military casualties.international benchmark brent crude oil Prices for September delivery rose about 2.54% to over $90 per barrel.…

Encryption Edge Computing Data LakeJust Super | E+ | Getty Imageschina stocks johnji innorite Shares soared as much as 8% on Monday after the company received approval on Friday for a major Hong Kong listing worth up to $8 billion, likely the city’s biggest listing in years.The Chinese optical transceiver company has begun gauging interest from investors, and details such as size and timing could change as deliberations progress, Bloomberg reported, citing people familiar with the deal. The deal size surpasses Luxshare Precision’s $3.1 billion IPO earlier this month, making it the largest listing in Hong Kong this year. Innorite…

RAMALLAH, West Bank (AP) — Picture this: A customer at a gas station takes out a wad of cash to pay for a refueling. The cashier refused the cash and explained that the bank at the station was already overflowing with cash and had stopped accepting banknotes and coins for deposit. Cash is important in most places. But under Israeli occupation west bankIf you have too much, the structure of your daily life will be disrupted. There are more Israeli shekels in the Palestinian banking system than it can manage. As a result, it has become difficult for residents to…