Newsletter | Jensen Huang’s fireside chat with Mukesh Ambani; Madhabi Puri Buch skips parl panel meeting & more
#TopStory
NVIDIA AI Summit | NVIDIA’s Founder & CEO, Jensen Huang Fireside Chat With Mukesh Ambani
Reliance Industries Chairman Mukesh Ambani joins Nvidia Founder & CEO Jensen Huang for a fireside session as part of the Nvidia AI Summit India at Mumbai’s Jio World Convention Centre. The conversation between the industry leaders will centre on AI’s pivotal role in reshaping industries & how India is emerging as a global AI leader.
WATCH
Parliamentary panel meet adjourned as SEBI chief Madhabi Puri Buch skips with last minute notice: Sources
Madhabi Puri Buch, the chief of Securities and Exchange Board of India (SEBI), will not attend meeting of the Public Accounts Committee of Parliament on October 24, sources told CNBC-TV18.
They said she has sought an exemption from appearing before the panel due to personal reasons.
As per convention, the chairman of the organisation has to appear before the committee for oral evidence, sources said, adding that the Public Accounts Committee is conducting a performance review of regulatory bodies.
#CNBCTV18Market
Three reasons why the US got more foreign funds than China last week
Strong earnings from the big American banks, Trump’s resurgence in the electoral race, and the likelihood of rate cuts by the US in December are drawing more money into the world’s largest economy.
Nifty may fall another 1,000 points in the next 20 sessions, says top CLSA chartist
Laurence Balanco, the top CLSA chartist expects the Nifty to correct further from current levels. The Nifty 50 index is currently down 7% from the record high of 26,277 it made on September 27 this year.
In an exclusive conversation with CNBC-TV18, Balanco said that he sees the Nifty heading towards levels of 23,300 in the next 20 trading sessions. This implies a downside of over 1,000 points from where the Nifty closed on Tuesday at levels of 24,470.
#Economy
RBI MPC Minutes: Governor Das flags short-term inflation risks amid growth emphasis
In the latest Monetary Policy Committee (MPC) minutes, RBI Governor Shaktikanta Das highlighted the resilience of India’s economy in Q2 FY25. He noted, “High-frequency indicators suggest that economic activity remained steady during the second quarter of FY25,” driven by improved government expenditure and corporate investment.
The Governor added that private sector investments are “gaining steam,” reflecting a positive outlook for India’s growth trajectory.However, Das raised concerns about short-term inflationary pressures, particularly from rising food prices. “High-frequency food price indicators for September indicate an upturn in food prices,” he stated.
#India
Cyclone Dana Live Updates: Kolkata airport to suspend flight operations from 6 pm today
The Kolkata airport authorities will suspend flight operations for 15 hours from 6 pm today. The step was taken keeping in mind the safety of passengers, airline employees, various equipment, navigational aids and infrastructure. More than 30% of the targeted 10 lakh people have been evacuated to safe places in view of cyclone Dana.
The cyclone is likely to cross the Odisha coast, close to Bhitarkanika and Dhamra, early on October 25. Kendrapada, Bhadrak, Balasore, Jagatsinghpur, Cuttack and Puri districts will mostly bear the brunt of the cyclone.
The IMD said the cyclonic storm is set to bring heavy rainfall in several southern West Bengal districts, including Kolkata.
#GlobalNews
BRICS leaders adopt Kazan Declaration— Key Points
The 16th BRICS Summit concluded on Wednesday, October 23, with the adoption of the Kazan Declaration, a comprehensive document outlining key areas of cooperation and the bloc’s unified stance on global issues.
The summit held in Kazan, Russia, saw productive discussions on strengthening multilateralism, countering terrorism, promoting economic growth, and addressing the concerns of the Global South.
Leaders of more than 20 nations, including Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, UAE President Sheikh Mohammed bin Zayed Al Nahyan, and Iranian President Masoud Pezeshkian, participated in the summit.
The 43-page final communiqué addressed a range of topics, including geopolitics, artificial intelligence, and the preservation of endangered species.
#Commodities
Gold price surge explained: Key factors driving rates and what buyers should know
Gold prices continued their upward trend on Thursday (October 24), reflecting both domestic and global market movements. In India, gold prices hovered around ₹80,000 per 10 grams.
Globally, spot gold rose by 0.3% to $2,725.51 per ounce, following a record high of $2,758.37 per ounce earlier in the week.
Key factors driving gold prices
#PersonalFinance
How India’s first rent credit score system can help you build a credit profile
In a recent move, RentenPe has introduced India’s first-ever rent credit score and residence card (R-Card) repository. This initiative aims to bridge a key gap in the financial system by recognising rent payments as a credible indicator of financial reliability, a metric that has been overlooked in traditional credit scoring.
RentenPe’s rent credit score changes this by allowing tenants to build their credit profiles based on timely rent payments.
As Sarika Shetty, Co-Founder & CEO of RentenPe, states, “Rent should be acknowledged as a parameter in financial assessments, just like loan EMIs or credit card bills.”
#StartUpNews
Supreme Court sets aside NCLAT order stopping insolvency proceedings against Byju’s: A timeline of the case
The Supreme Court on Wednesday, October 23, set aside the verdict of the National Company Law Appellate Tribunal (NCLAT) that stopped the insolvency proceedings against embattled ed-tech firm Byju’s. An apex court bench, headed by Chief Justice DY Chandrachud and Justices JB Pardiwala and Manoj Misra, further reversed the NCLAT judgement approving the company’s ₹158.9 crore dues settlement with the Board of Control for Cricket in India (BCCI), PTI reported.
The cricket board has been asked to deposit the ₹158.9 crore settlement amount with a committee of creditors.
Here’s a complete timeline of the case:
#USElections2024
Why is billionaire Elon Musk rallying for Republican presidential nominee Donald Trump? Here are 11 reasons
Maverick multi-billionaire Elon Musk who runs SpaceX and Tesla, made news when he said he liked former US president Donald Trump and would rally for him to become president again.
Here are 11 reasons on why Musk decided to side with Trump.
Key dates in 2024 US presidential election: Trump faces sentencing, electors meet
As the 2024 US presidential election approaches, key dates are set for Donald Trump and Kamala Harris. Election Day is November 5, followed by Trump’s sentencing and the Electoral College’s meeting.
We’ll see you tomorrow with another edition of 11:11
