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Animals collapse, water shortages bite amid India’s searing heat

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Animals collapse, water shortages bite amid India’s searing heat

Animals collapsed and people jumped on water tankers with buckets amid shortages due to blistering summer heat in north India. Delhi recorded temperatures touching 47 C (116.6 F) and saw its first heat-related death. Authorities are investigating a 52.9 C reading in one area. Delivery personnel are spending more time on scooters due to the heat, and companies like Zomato are taking measures to help them. The extreme temperatures have also led to more fires in several parts of the country. India, along with other countries in Asia, is experiencing unusually high temperatures, which scientists attribute to human-driven climate change. India has set a target of becoming a net-zero emitter by 2070.

‘Higher-for-longer’ rates policy to stay for rest of 2024

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‘Higher-for-longer’ rates policy to stay for rest of 2024

Higher-for-longer interest rates are likely to remain central banks’ main strategy for the rest of the year, according to the CEO of a leading financial advisory and fintech firm.

S.,  Africans vote in most competitive election since end of apartheid

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S.,  Africans vote in most competitive election since end of apartheid

South Africans voted in a competitive election where the African National Congress (ANC) could lose its parliamentary majority after 30 years in government.

Cypriot banks first quarter profits hit , €226 million

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Cypriot banks first quarter profits hit , €226 million

Increased interest income from successive interest rate hikes by the European Central Bank significantly boosted Cypriot banks’ profits in the first quarter of 2024, with the Bank of Cyprus reporting a 31% increase in net interest income and Hellenic Bank seeing a 40% rise.

Five UK market hotspots to watch ahead of the election

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Five UK market hotspots to watch ahead of the election

– Prime Minister Rishi Sunak called a summer election in the UK, surprising many and giving a modest boost to the pound.
– Keir Starmer’s Labour Party has been leading in opinion polls since Sunak took power in 2022.
– UK equities tend to be quite flat in the six months after a national election, with the FTSE 250 outperforming the FTSE 100.
– The pound is sensitive to election time, reflecting international investor opinion about the UK and expected government policies.
– Sectors like Natwest Group, housebuilders, and the water sector will be under scrutiny during the election.
– Bond market investors will closely examine the two parties’ spending plans, especially Labour’s, to ensure bond market stability.
– Credit default swap markets currently price the UK as if it had a higher credit rating than it actually does.

The best SEPA Cryptocurrency exchanges

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The best SEPA Cryptocurrency exchanges

Fact: SEPA transfers offer a standardized, quick, and cost-effective method for transferring euros between bank accounts in its member countries in Europe.

Saudi Arabia plans Aramco share sale as soon as June, according to sources

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Saudi Arabia plans Aramco share sale as soon as June, according to sources

Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June, with the offering expected to raise around billion.

Headquarters Question: Where Could UBS Relocate?

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Headquarters Question: Where Could UBS Relocate?

Fact: UBS currently pays around 18.5 percent on its profits in Switzerland, derived from a mixed calculation of cantonal rates, with Zurich at 19.61 percent and Basel-Stadt at 13.04 percent.

A bank windfall tax is not the answer in Cyprus

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A bank windfall tax is not the answer in Cyprus

Since 2022, the huge deposits held by banks at the ECB have been earning millions in interest.