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Ever since Donald Trump won the 2024 US presidential elections, bitcoin has been surging, going up over 40% in the last two weeks. Recently, the cryptocurrency soared past $97,000, having risen 8.32% in just the last 7 days, and is currently trading at $96,906.09. The overall crypto market is also buoyant, with the crypto volume jumping 10.06% over the past 24 hours to touch $198.83 billion. The markets are enthused about Bitcoin's prospects going ahead, given that Trump has hinted towards establishing a dedicated role in the White House for deliberating crypto policies. Trump has been vocally pro-crypto and had promised, during his presidential campaign, to scale back <keyword id="24085738" type="General" weightage="20" keywordseo="crypto-regulations" source="keywords">crypto regulations</keyword> and fire SEC chair Gary Gensler, who had initiated a crackdown on digital assets in the US. The crypto lobby in the US has been advocating for crypto-friendly SECs and access to banks. In a bid to do so, crypto companies have pumped in over $119 million to support pro-crypto candidates. Says Edul Patel, co-founder and CEO of Mudrex, "Market sentiment grew stronger from Bloomberg's report of Trump’s plan to establish a dedicated White House role for crypto policy. The anticipation of faster regulatory clarity coupled with BlackRock’s Bitcoin ETF options projecting a $176k price target by 2026 has driven BTC’s price to the $95K milestone and beyond." The ongoing rally is not restricted to just bitcoin but also extended to Solana and XRP, which gained 10.85% and 59.02%, respectively, over the last 7 days. But does this mean that good times are coming for <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> as well? Apurva Sheth, Head of Market Perspectives &amp; Research, SAMCO Securities, notes that bitcoin is a proxy for risk-taking in the markets. Bitcoin moving up means the risk appetite of investors is rising. Conversely, if it falls, then investors prefer safety." Both Nifty and Sensex have lost over 5% each over the last month. FIIs (<keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword>) have also been scrambling out of Indian markets, having withdrawn Rs 1,14,445.89 crores during October 2024 and offloading Rs 34,348.30 crore so far in November. During trade today, Nifty and Sensex remained in red, with Nifty down by 0.74% and Sensex down by 0.6%. DIIs (domestic institutional investors) have been trying to keep the market afloat in both October and November, pumping in Rs 31,636.77 crore in Indian markets in November so far. Last month, DIIs infused Rs 1,07,254.68 crore in the Indian markets. According to an NSE report, by the end of the previous quarter, FPIs holding in NSE-listed companies stood at 36.3%, despite the seventh consecutive quarterly decline. Previously, FIIs holding in listed companies had hit a record high of 39.9% in December 2021. In contrast, DIIs are increasingly making headway into the Indian markets. Active Domestic Mutual Funds (DMFs) have been increasing their investments in the NSE-listed companies. Their ownership in these companies has risen from 12.4% in December 2021 to 15.7% as of September 30, 2024. Banks and insurance companies have also expanded their market share. Their ownership in NSE-listed companies has grown from 8.8% three years ago to 11% as of pr quarter.

The Bitcoin rally does not seem to be stopping anytime soon! Does this spell good news for Indian markets?

India could see a shift in foreign direct investment (FDI) trends in the second term of Donald Trump (Trump 2.0) as President of the United States, says a research report by the State Bank of India. The report highlighted that under his first term, Trump 1.0, the Trump administration made sweeping regulatory changes aimed at attracting investments back to the U.S., which impacted FDI inflows globally, including India. It added that if similar policies are reintroduced in Trump 2.0 also, it could create challenges for emerging markets like India, which rely on FDI as a significant driver of economic growth. Notably, a recent Kotak report highlighted that a complete Republican control over all arms of the US government would mean increased US earnings via corporate tax cuts, higher tariffs on imports into the US and greater US fiscal deficits. The first two could spell doom for emerging markets like India and China, since foreign investors will make a beeline for investing more money in the US markets, which will come at the cost of intense selloff in emerging markets. However, higher fiscal deficits will eventually lead to the dollar weakening after the initial euphoria dies down. "India may see shifts in foreign direct investments (FDIs) during Trump 2.0. The Trump 1.0 administration saw significant regulatory changes aimed at attracting investments back to the US," the SBI report stated. However, given that India has been gradually diversifying its sources of FDI (foreign direct investments), this trend could serve as a buffer against any potential decline. Moreover, domestic institutional investors have been stepping up big time, maintaining some balance to the massive exodus of FIIs over the past month. So far in November 2024, FIIs have withdrawn Rs 19,849 crores from the cash segment in Indian markets, while DIIs have poured in Rs 14,014.18 crores as of November 10th, 2024. "India is no longer dependent on the traditional sources of FDI inflows... unlike the recent past, FDI is now coming in many new sectors," noted the SBI report. Unlike a decade ago, when most FDI inflows came from a limited number of traditional sectors, India is now attracting investment in a wide array of industries, including renewable energy, sea transport, medical devices, and surgical appliances. Data suggests over the last 24 years, i.e., between April 2000 and June 2024, FDIs have poured in $1,013.4 billion in the Indian economy. Out of this, 67%, i.e., $689.88 billion, has come in just the last 10 years. The report added there are up to 12 emerging sectors showing strong FDI interest, which could help offset any loss of inflows in conventional sectors if there is a shift in global investment patterns under another Trump administration. In the last financial year, the top 5 sectors that have received the highest quantum of FDI inflow include the services sector (finance, banking, insurance, and business) which makes up about 16% of the inflows. This is followed computer software &amp; hardware, which constitute around 15% of total FDI flows. Trading and telecommunications follows with a share of 6% each, and Automobile Industry comes next with a 5% share. In the short term, the potential for increased U.S. tariffs, more restrictive H-1B visa policies, and a stronger dollar could bring some volatility to India's trade and investment landscape. However, in the long term, these challenges might also encourage India to expand its manufacturing capabilities, diversify export markets, and focus on becoming economically more self-reliant. Notably, India has maintained a merchandise trade surplus with the U.S. despite tariffs imposed during Trump's first term. This indicates that Indian exports have remained resilient, and there is potential to strengthen this trade relationship further by capitalizing on emerging sectors and reducing dependency on traditional industries. Suman Chowdhury, Executive Director &amp; Chief Economist, Acuité Ratings &amp; Research Limited cautions that in the medium to long term, the trade relationship with the US may see a structural improvement. "Higher tariff and trade restrictions in the US with China should translate into better opportunities for exports of manufactured goods from India", he adds.

FDIs may shift to US under Trump 2.0 but it is unlikely to severely impact FDIs inflow to India, says SBI Report

US presidential candidate <keyword id="19918985" type="General" weightage="20" keywordseo="Donald-Trump" source="keywords">Donald Trump</keyword> has gone from suggesting that immigrants were poisoning the blood of the country to saying that he would welcome immigrants from “nice” countries like Denmark, Switzerland and Norway to his most recent plans of automatically granting green cards to <keyword id="22128571" type="General" weightage="20" keywordseo="foreign-graduates" source="keywords">foreign graduates</keyword> of US colleges in a rather short duration of time. Feeling a little whiplashed, anyone? Securing a green card in the US is a Herculean task whose difficulty is probably comparable to capturing and bringing back Cerberus. And this legal permanent residence, which can sometimes take decades, is only the first step to becoming a US citizen. Many Indians have tried, whether it’s through residing and working for decades, navigating rather lengthy paperwork or marrying someone who is already a US citizen. Sadly, many have failed too. However, should Donald Trump become the President of the United States again (and decide to keep his word), Indian students might actually have an easier time getting a green card. In a surprising shift from his previous stance on immigration, former President Donald Trump has unveiled a bold plan to automatically grant green cards to foreign graduates of US colleges if re-elected. This announcement, made during a podcast interview with Silicon Valley investors, marks a departure from Trump's traditionally tough rhetoric on immigration. During the podcast hosted by Chamath Palihapitiya and others, Trump expressed his commitment to retaining talent educated in American universities. He argued passionately for granting green cards as a standard benefit for graduates, regardless of the institution they attended. Trump emphasised that this policy should encompass graduates from renowned institutions like Harvard and MIT as well as from junior colleges across the country. “It’s so sad when we lose people from Harvard, MIT, the greatest schools, and lesser schools that are phenomenal schools also,” Trump lamented on the All-In Podcast. “I think you should get, automatically, as part of your diploma, a green card to be able to stay in this country and that includes junior colleges, too.” A green card affords its holder permanent residency rights in the United States and represents a crucial step towards citizenship. Trump's proposal, if enacted, could potentially introduce hundreds of thousands of new applicants for citizenship annually. Adding to the exodus of Indians who have already migrated to the US, over 200,000 Indian nationals are enrolled in institutes across the US in 2024, setting a new record. In fact, the significant surge in Indian students seeking education in the country between 2022-23 represented an unprecedented 35% increase from the year before that. The former US president specifically mentioned India and China, highlighting how talented individuals were unable to stay in the US because of current <keyword id="22151110" type="General" weightage="20" keywordseo="visa-policies" source="keywords">visa policies</keyword>. We can see how this may show him in a favourable light for green card aspirants. And while we’re not one to look a gift horse in the mouth, it is important to remember that Trump has made his discriminatory nature very public in several instances. Immigration has been a hot topic in the US political arena for decades. However, in recent years, the political right and others have been more divided than ever on this issue. Republicans have been calling for stringent immigration policies and strict border protections. Therefore, even if Trump does deliver what he promises, the packaging will most likely have fine print that might continue to make it difficult for students to attain green cards. In fact, the presidential candidate’s campaign press secretary, Karoline Leavitt, has already clarified that Trump's proposal would only apply to thoroughly vetted college graduates who can “make significant contributions” to America and would not undercut American wages or workers. She emphasised that Trump has outlined the most aggressive vetting process in US history to exclude "all communists, radical Islamists, Hamas supporters, America haters and public charges." Anyhow, Trump’s proposal starkly contrasts with Trump's previous hardline stance on immigration, which had been a cornerstone of his political platform. During his presidency, Trump advocated for stringent immigration policies, including the largest deportation campaign in US history, aimed at undocumented migrants, and building a wall on the southern borders of the country. Trump intensified restrictions on legal immigration amid the pandemic and his final year in office. He proposed halting all immigration to the US and deporting foreign students who didn't attend some in-person classes. A month before the 2020 election, Trump once more moved to tighten regulations on the <keyword id="20773661" type="General" weightage="20" keywordseo="H-1B-visa" source="keywords">H-1B visa</keyword> program. He has also criticised the H-1B visa program, which tech companies favour for hiring foreign skilled workers, as detrimental to American prosperity. The H-1B visa is a non-immigrant visa allowing US firms to employ foreigners in specialised occupations requiring theoretical or technical expertise. At a recent campaign event in Wisconsin, Trump criticised Biden's immigration policies, particularly lambasting a new program allowing undocumented spouses of US citizens to apply for permanent residence without leaving the country. Trump characterised immigration under Biden as an "invasion" and argued against discussing amnesty, urging instead for measures to halt what he perceives as an influx of unauthorised migrants. Estimates from the Department of Homeland Security suggest that approximately 11 million migrants currently reside in the US without authorization, a statistic that has been central to Trump's arguments against leniency in immigration policy.

Donald Trump strikes again: Ex-President proposes automatic green cards for foreign graduates of US colleges

<ul class="summary-list"><li>Donald Trump might have upended the veepstakes tradition when he picked JD Vance as his running mate.</li><li>Vance, who holds remarkably similar political views to Trump, isn't going to "balance the ticket."</li></ul>Former President <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-luck-classified-documents-assassination-debate-2024-7">Donald Trump</a> upended the election tradition of "<a target="_blank" class="" href="https://www.businessinsider.com/trump-flipped-script-jd-vance-not-aimed-balancing-president-ticket-2024-7">balancing the ticket</a>" when he picked Ohio Sen. <a target="_blank" class="" href="https://www.businessinsider.com/trump-vice-president-jd-vance-career-facts-2024-7">JD Vance</a> as his running mate. But the MAGA pair is unlikely to disrupt the calculus for an Asia that's already preparing for the possibility of his victory in November, experts say.Vance, a former Trump critic turned MAGA stalwart, has voiced foreign policy views in lockstep with Trump. Both men <a target="_blank" class="" href="https://www.businessinsider.com/where-does-trump-vance-stand-on-china-tariffs-inflation-taxes-2024-7">support wide tariffs on China</a> and have <a target="_blank" class="" href="https://www.businessinsider.com/trumps-running-mate-jd-vance-ukraine-worst-nightmare-analysis-2024-7">criticized US aid to Ukraine</a>.Yet three experts on the Asia-Pacific told Business Insider that regional leaders — having learned from Trump's shock win in 2016 and his subsequent unpredictability — are already laying the groundwork for a scenario where he wins.<h2 id="d60358f2-bcd9-4253-90a1-8c07028ce812">Asia won't be surprised by a Trump-Vance administration</h2>"It would be quite irresponsible if they didn't already countenance this, and I think, to be honest, we will not see the overreactions that we saw earlier or in parts of Europe," said <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://dr.ntu.edu.sg/cris/rp/rp00194">Dylan Loh</a>, assistant professor of public policy and international studies at Singapore's Nanyang Technological University (NTU).Trump previously <a target="_blank" class="" href="https://www.businessinsider.com/trump-tpp-trans-pacific-partnership-what-it-means-2017-1">reneged on deals</a> he felt were disadvantageous to the US and pressured allies like <a target="_blank" class="" href="https://foreignpolicy.com/2019/11/15/trump-asks-tokyo-quadruple-payments-us-troops-japan/">Japan</a> and <a target="_blank" class="" href="https://www.businessinsider.com/trump-thaad-south-korea-2017-4">South Korea</a> to support US defense costs.But Loh believes regional stability will prevail."I think Trump's tenure has shown that fears of abandonment or ignorance of politics in Asia are overblown," he said.The most prominent US-aligned governments in Japan, South Korea, Taiwan, and the Philippines have been hedging their bets and working carefully to make their economies and supply chains more resilient, said <a target="_blank" class="" href="https://discovery.nus.edu.sg/2380-ja-ian-chong">Chong Ja Ian</a>, a political science professor at the National University of Singapore."Other Southeast Asian states seem to believe they can weather another Trump administration, perhaps by freezing on the efforts of the northeast Asian US allies and partners plus the Philippines," he said.It's not just economics. The Philippines, for example, <a target="_blank" class="" href="https://www.cnbc.com/2024/07/09/japan-and-the-philippines-sign-landmark-defense-deal-to-counter-china-.html">inked a new defense pact with Japan</a> in July as it grapples with the threat of an increasingly belligerent China in the South China Sea. This comes as the Philippines signs maritime agreements with key NATO countries <a target="_blank" class="" href="https://ipdefenseforum.com/2024/04/philippines-u-k-strengthen-ties-to-boost-maritime-security-cooperation/">like the UK</a> and <a target="_blank" class="" href="https://newsinfo.inquirer.net/1692751/ph-france-sign-agreement-strengthening-maritime-industry">France</a>.<h2 id="d23ca00c-37ca-4167-bbb6-cebb083b0d0f">US-China relations won't change much, whether it's Trump or Biden at the wheel</h2>Even though Trump started the US-China trade war, experts say that China won't be too bothered if he returns to the White House.This, NTU's Loh said, is because President Joe Biden hasn't really deviated from Trump's hawkish stance against the Asian giant.For one, the Biden administration has <a target="_blank" class="" href="https://www.businessinsider.com/china-tariffs-trade-restrictions-budget-deficit-biden-trump-stephen-roach-2024-7">kept most of Trump's China tariffs in place</a>. In fact, Biden introduced some of his own when he announced a <a target="_blank" class="" href="https://www.businessinsider.com/white-house-joe-biden-hikes-tariffs-on-chinese-made-evs-2024-5">100% tariff on Chinese electric vehicles</a> in May."For China, any preferences for either Trump or Biden is going to be marginal," Loh said."I think it is quite clear that regardless of whether a Democrat or a Republican is in office, the general bipartisan mood of seeing China as a threat or a strategic competitor will not abate," he added.<a target="_blank" class="" href="https://www.rsis.edu.sg/profile/kevin-chen-xian-an/">Kevin Chen</a>, a research fellow at NTU's S. Rajaratnam School of International Studies, told BI that China may even prefer to have Trump back in power due to the turmoil he'll bring to the US' foreign ties."Given how Mr Trump would likely alienate US allies and partners with his policies, Beijing may prefer that he retake the White House to give them more opportunities to spread their influence," Chen explained.That said, most Asia-Pacific countries will shy away from appearing to take sides or expressing relief if either candidate wins."There's a joke in Japanese diplomatic circles that the outcome of a US presidential election is like opening a Christmas present, except that they must express that 'this is exactly what I wanted' regardless of the result," Chen said.

Asia is preparing for a rogue US if Trump and Vance win the election, security and foreign policy experts say

The country's <keyword id="20344433" type="General" weightage="100" keywordseo="forex-reserves" source="keywords">forex reserves</keyword> touched a <keyword id="19953076" type="General" weightage="20" keywordseo="record-high" source="keywords">record high</keyword> of <keyword id="22711333" type="General" weightage="20" keywordseo="USD-675-billion" source="keywords">USD 675 billion</keyword> on August 2, <keyword id="22204269" type="General" weightage="20" keywordseo="Reserve-Bank-Governor" source="keywords">Reserve Bank Governor</keyword> <keyword id="19913110" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="keywords">Shaktikanta Das</keyword> said on Thursday. The previous all-time high for the kitty was USD 670.857 billion on July 19 this year, and the last reported reserve was USD 667.386 billion as on July 26. Das said overall, the country's <keyword id="20811151" type="General" weightage="20" keywordseo="external-sector" source="keywords">external sector</keyword> "remains resilient" as indicated by an improvement in key indicators. "We remain confident of meeting our <keyword id="22711421" type="General" weightage="20" keywordseo="external-financing-requirements" source="keywords">external financing requirements</keyword> comfortably," he said in his statement after the review of the <keyword id="20104157" type="General" weightage="20" keywordseo="monetary-policy" source="keywords">monetary policy</keyword>. Das said <keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">foreign portfolio investors</keyword> turned net buyers in the domestic market from June 2024 with net inflows of USD 9.7 billion during June- to August 6, after witnessing outflows of USD 4.2 billion in April and May. Gross foreign direct investment (FDI) rose by more than 20 per cent in April-May 2024, while net FDI flows doubled during this period compared to the corresponding period of the previous year, the Governor said. External commercial borrowings by Indian entities moderated, but non-resident deposits were higher in April-May, he said.

India's forex reserves at record high of USD 675 billion, external sector resilient: RBI Governor Shaktikanta Das

<ul class="summary-list"><li>Israel launched a "limited" ground offensive in Lebanon after killing a top Hezbollah leader in airstrikes.</li><li>The attacks came just days after the US called for a 21-day cease-fire on September 25.</li></ul>The Israel Defense Forces, in a statement, confirmed it had begun a "limited, localized, and targeted" <a target="_blank" href="https://www.businessinsider.com/israel-launches-ground-offensive-into-lebanon-destroy-hezbollah-targets-2024-9">ground offensive in Lebanon </a>early Tuesday local time, aimed at the Iran-backed militant organization, Hezbollah, after trading back-and-forth strikes with the group for nearly a year.The ground offensive came after a series of airstrikes on September 27 that killed Hezbollah's longtime chief, <a target="_blank" class="" href="https://businessinsider.com/who-was-hassan-nasrallah-the-hezbollah-leader-killed-by-israel-2024-9">Hassan Nasrallah</a>, a major victory for Israeli Prime Minister Benjamin Netanyahu.That Israel conducted the operations just days after the US called for a <a target="_blank" class="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/09/25/joint-statement-by-the-united-states-australia-canada-european-union-france-germany-italy-japan-saudi-arabia-united-arab-emirates-qatar/">21-day cease-fire</a> on September 25, however, only reinforces that Israel has its own interests, and a now-emboldened Netanyahu won't easily be reined in by the US, which has so far failed to deescalate the situation since the <a target="_blank" class="" href="https://www.businessinsider.com/why-is-there-fighting-in-israel-and-what-caused-the-conflict-2023-10">October 7, 2023, Hamas terrorist attack</a>, foreign policy experts told Business Insider.The US, a key Israeli ally and intermediary in peace talks, has thus far failed to broker a cease-fire, negotiate the release of hostages being held by Hamas, or reign in civilian deaths in Israel's fight in Gaza.And despite increased international pressure for a cease-fire between Israel and Hezbollah following a series of <a target="_blank" class="" href="https://www.businessinsider.com/hezbollah-pager-explosions-lebanese-residents-abandon-devices-2024-9">deadly pager explosions</a> in Lebanon earlier this month, Israel launched airstrikes and, now, what it is calling a "limited" ground invasion.Chuck Freilich, a former deputy national security advisor who served for over 20 years in Israel's security establishment, told BI that while Nasrallah's death was seen as a major accomplishment for Israel and the US, the strike "also reinforces the long-standing dislike for Netanyahu and the belief that he is not a reliable partner for the US."Freilich, currently a political science professor at Columbia University, noted that the relationship between Israel and the US has been tense before — recalling a 2014 incident wherein an official in then-President Barack Obama's administration was quoted calling Netanyahu a "<a target="_blank" class="" href="https://www.businessinsider.com/netanyahu-chicken-comments-obama-israel-boehner-2014-10">chickenshit</a>." Benjamin Radd, a research fellow with the UCLA Center for Middle East Development, told BI that President Joe Biden's lame-duck status might be influencing Netanyahu's decision-making."I think we have a situation where the Israeli prime minister is finding himself a window with which to operate, where internationally — or at least here in the US — there seem to be number one, distractions, and number two, a candidate whose positions on Israel's foreign policy decisions might be more favorable toward the Prime Minister," Radd said, referring to a potential Donald Trump win in the upcoming election.Netanyahu, Radd said, seems to be seizing his opportunity for escalation in a way he wouldn't necessarily do if Biden weren't on his way out of office.Sean McFate, a national security and foreign policy expert at Syracuse University, told BI that the airstrike is a "major escalation" in the conflict and that Israel is not a "finger puppet" to the US that will easily kowtow to outside demands."I think it's hubris to think that America can just pull a leash, and Bibi does what we want," McFate said of Netanyahu using his nickname. Israel scored a major win by taking out <a target="_blank" class="" href="https://www.businessinsider.com/netanyahu-tricked-nasrallah-with-un-speech-official-says-2024-9">Nasrallah</a>, McFate said — a move that Biden acknowledged as a "measure of justice" in the same statement in which he called for diplomacy in Gaza and Lebanon.He added that the prime minister may also consider the US an unreliable partner.In May, <a target="_blank" href="https://www.reuters.com/business/aerospace-defense/us-has-been-holding-up-several-weapons-shipments-israel-2-weeks-source-says-2024-05-07/">Reuters</a> reported that the Biden administration paused a weapons shipment to Israel to oppose an apparent move to carry out an offensive into Rafah in southern Gaza."We have promised weapons, we don't deliver them on time," McFate said of Netanyahu's possible thinking. Israel ultimately went ahead with its military plans in Rafah.The killing of a top Hezbollah leader and the subsequent ground invasion complicates the already murky path to de-escalation.Netanyahu, who is in a politically fraught position as he faces <a target="_blank" class="" href="https://www.businessinsider.com/israeli-pm-benjamin-netanyahu-indicted-on-fraud-bribery-charges-2019-11">corruption charges</a> (he denies wrongdoing) and has yet to secure the remaining hostages held by Hamas since last October, may now be even more emboldened, McFate said."The question is, what happens next? Does Israel escalate? Does Hezbollah escalate? Does Iran escalate?" McFate added. "We're at the most volatile moment since October 7."Representatives for the State Department and the Israeli prime minister's office did not respond to requests for comment from Business Insider.

Israel's airstrikes and incursion against Hezbollah show that the US can't easily rein in Netanyahu, foreign policy experts say

Rupee appreciated 7 paise to 84.22 against the US dollar in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite. Forex traders said the <keyword id="21663515" type="General" weightage="20" keywordseo="MSCI-equity-index" source="keywords">MSCI equity index</keyword> rebalancing significantly boosted sentiment for Indian equity markets as <keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword> broke a 40-session streak of net selling by purchasing Rs 9,947 crores on Monday, lending robust support to the rupee. Moreover, the win by the incumbent government in Maharashtra, further fueled investor confidence in economic stability, sparking a rally in equity markets. At the interbank foreign exchange, the rupee opened at 84.27 and moved in a tight range and touched an early high of 84.22 against the greenback, registering a gain of 7 paise over its previous close. On Monday, the rupee appreciated 12 paise to close at 84.29 against US dollar. "While Donald Trump's aggressive trade policies loom large, the rupee's outlook remains cautiously optimistic. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>'s projection of a GDP growth rebound to 7.6 per cent in Q3 has infused fresh confidence in India's economic trajectory. Additionally, a surge in capital inflows is likely to provide robust support," CR Forex Advisors MD Amit Pabari said. Pabari further said that the RBI's vigilant stance will be critical in managing volatility, with interventions likely at key levels to maintain stability. "Given the factors, the USDINR pair appears to face resistance around the 84.50 level, with expectations of trading within a range of 83.80 to 84.50, leaning toward a downside bias," he said. On the global front, US Treasury Secretary nominee Scott Bessent's fiscal deficit reduction agenda capped US Treasury yields, Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 107.11. Brent crude, the global oil benchmark, rose by 0.33 per cent to USD 73.25 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex jumped 167.76 points or 0.21 per cent to 80,277.61 points in early trade, while Nifty jumped 55.80 points or 0.23 per cent to 24,277.70 points. Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank">OnePlus Open OxygenOS 15 update now rolling out with Flux Themes, improved AI features and more</a><a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank">Microsoft’s AI-powered Recall feature is now rolling out to Copilot+ PCs</a><a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank">Jio, Airtel and Vi lost nearly 11 million subscribers in September 2024</a>

Rupee rises 7 paise to 84.22 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="Rupee" source="keywords">rupee</keyword> recovered from its all-time low level and witnessed a range-bound trade against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early hours on Thursday, as investors remained cautious ahead of the US Fed meeting outcome later this week. Forex traders said RBI interventions will keep the <keyword id="23844589" type="General" weightage="20" keywordseo="USD/INR-pair" source="keywords">USD/INR pair</keyword> between 83.80 and 84.35. Moreover, the US Federal Reserve monetary policy and officials' comments will be in focus to derive further momentum. At the interbank foreign exchange, the rupee opened at 84.26 against the greenback, registering a rise of 5 paise over its previous close. On Wednesday, the rupee depreciated 22 paise to close at an all-time low of 84.31 against the US dollar. "The <keyword id="20045514" type="General" weightage="20" keywordseo="Indian-rupee" source="keywords">Indian rupee</keyword> fell to its lowest (level) on Wednesday and is expected to continue with its fall as the Reserve Bank of India (RBI) allows a weaker rupee with FPIs (<keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">foreign portfolio investors</keyword>) continuing their selling mode in equities," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. RBI protected the rupee for some time but left the protection as pressure on buying dollars was immense after a rise in the dollar index and an increase in US yields, Bhansali added. Forex traders said the rupee was trading in a narrow range as persistent foreign fund outflows, a muted trend in domestic equities and the strength of the American currency in the overseas market, dented investor sentiments. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10 per cent lower at 104.98. Brent crude, the global oil benchmark, rose 0.79 per cent to USD 75.51 per barrel in futures trade. On the domestic equity market front, Sensex declined 429.83 points, or 0.53 per cent, to 79,948.30 points. The Nifty fell 143.25 points, or 0.59 per cent, to 24,340.80 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,445.59 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a><a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank">Swiggy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms" target="_blank"></a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Rupee rises 5 paise to 84.26 against US dollar in early trade

<ul class="summary-list"><li>Donald Trump is yet to announce his pick for Treasury Secretary.</li><li>Names in the frame include Scott Bessent, Howard Lutnick, Marc Rowan, and Kevin Warsh.</li></ul>After announcing a swathe of names for his Cabinet, president-elect Donald Trump appears to be conducting auditions for his <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-lutnick-treasury-secretary-bessent-2024-11">Treasury Secretary</a>.Figures in the frame include Scott Bessent, the founder of Key Square Capital Management; Howard Lutnick, the CEO of Cantor Fitzgerald; Marc Rowan, the Apollo Global Management cofounder; and Kevin Warsh, a former governor of the Federal Reserve Board.Here's some of the best commentary we've seen about the race to be the next Treasury Secretary.<h2 id="ae4b6c87-26a6-4e33-8ebf-b45e9babbffa">The New York Times DealBook newsletter</h2><h2 id="3d1cf5aa-5b7d-4e4d-96ee-6793db22c7d5"><a target="_blank" class="" href="https://x.com/Jkylebass/status/1857794067251298541">Kyle Bass</a>, chief investment officer of Hayman Capital Management, on X</h2><h2 id="d9877d8e-25ac-4ef8-8713-1b59b57c9fb3">The Wall Street Journal Editorial Board — <a target="_blank" class="" href="https://www.wsj.com/opinion/disruption-wont-work-at-treasury-trump-nomination-musk-63c5b8f9">'Disruption Won't Work at Treasury'</a></h2><h2 id="8b031c32-dd8c-499c-947e-7025201d570d">Mike Allen, Axios cofounder, on <a target="_blank" class="" href="https://www.cnbc.com/video/2024/11/18/new-treasury-secretarys-number-one-job-will-be-reassuring-the-markets-says-axios-mike-allen.html">CNBC</a></h2><h2 id="e06aa875-8c1b-4294-b272-8d54a101d0be">Ian Bremmer, Eurasia Group founder, told BI:</h2><h2 id="5ae024d8-3102-40b1-a230-50772299c96d">The Economist — <a target="_blank" class="" href="https://www.economist.com/united-states/2024/11/16/howard-lutnick-donald-trumps-resilient-transition-chief">'Howard Lutnick, Donald Trump's resilient transition chief'</a></h2><h2 id="562ada01-796e-4318-925e-7743f2c8fa55">Bloomberg Editorial Board — <a target="_blank" class="" href="https://www.bloomberg.com/opinion/articles/2024-11-14/donald-trump-s-nominees-suggest-familiar-chaos?srnd=opinion">'Trump's Nominees Suggest Familiar Chaos'</a></h2><h2 id="4ba2f401-897a-4adc-8768-3322644452e9"><a target="_blank" class="css-175oi2r r-1wbh5a2 r-dnmrzs r-1ny4l3l r-1loqt21" href="https://x.com/JStein_WaPo">Jeff Stein,</a> The Washington Post economics reporter, on X</h2>

Trump's Treasury Secretary: The best commentary about who the president-elect should nominate

<ul class="summary-list"><li>President-elect Donald Trump nominated Brendan Carr as the chairman of the Federal Communications Commission.</li><li>Carr has been working for the FCC since 2012.</li></ul>On Sunday, President-elect Donald Trump announced his nomination for the chairman of the Federal Communications Commission, or FCC: Brendan Carr.Carr, who has worked at the FCC since 2012, is the senior Republican on the commission. He is also the author of the FCC chapter of <a target="_blank" class="" href="https://www.businessinsider.com/what-is-project-2025-conservative-political-playbook-heritage-foundation-trump-2024-7">Project 2025</a>, the conservative playbook that's raised questions among Democrats and Republicans alike for pushing policies like eliminating the Department of Education.In a Truth Social post announcing the nomination, Trump wrote that Carr is a "warrior for Free Speech.""He will end the regulatory onslaught that has been crippling America's Job Creators and Innovators, and ensure that the FCC delivers for rural America," Trump added.Carr thanked Trump for the nomination, writing on X that he is "humbled and honored to serve as Chairman of the FCC."The role requires Senate approval. If Carr does become the chairman of the FCC, the appointment stands to have serious impacts on Big Tech.<h2 id="74fa1360-14f5-4659-b046-4dcdf8b4702e">Carr's stance on Big Tech</h2>In his Project 2025 chapter, Carr writes that one of his four main goals for the FCC is "Reining in Big Tech.""The FCC has an important role to play in addressing the threats to individual liberty posed by corporations that are abusing dominant positions in the market. Nowhere is that clearer than when it comes to Big Tech and its attempts to drive diverse political viewpoints from the digital town square," he wrote."It is hard to imagine another industry in which a greater gap exists between power and accountability," he added.Carr outlined several steps for the FCC to take, including publicizing a new stance on the law's approach to Section 230, a part of the Communications Act of 1934.Section 230 states that online service providers aren't legally treated as publishers of their users' posts and can't be held liable for any actions taken "in good faith" to moderate or censor inappropriate content.Carr said the FCC should push for limitations to those rules, which he said have been abused to give Big Tech corporations immunity on censorship. His interpretation of the section would give Big Tech immunity only against being compelled to take down content.Ultimately, Carr wants to revamp Section 230 as a whole, in favor of a set of antidiscrimination rules that prevent companies from censoring posts, with exceptions for illegal content like child sex abuse images.In place, consumers should be allowed to choose their own fact-checkers and filters, Carr said.He proposed that Big Tech firms be compelled to make public their traffic and monetization algorithms, saying they now operate in a "black box."Carr also wants Big Tech firms to start contributing to the Universal Service Fund, a billion-dollar program run by the FCC that helps underprivileged communities get access to telecommunications services.<h2 id="26cff9fc-99ef-4eaf-859b-12158e20d10d">Carr wants a stronger push away from China — and TikTok</h2>Another of Carr's main points in his Project 2025 chapter is to further decouple the US tech industry from China's.Raising concerns about US national security, Carr called for a ban on TikTok, saying it gives China an opportunity to influence how millions of Americans get their news and information.He also called for the US to expand its Covered List, which tracks foreign tech companies deemed a risk to national security, and to prevent American firms from providing cloud computing services to China.Carr also wants the US to publish a list of FCC-approved organizations with at least 10% ownership from "foreign adversarial governments" like China, Russia, and Iran.To smoothen the push away from China, Carr suggested the US contribute another $3 billion in federal funding to help companies that use Chinese tech find and integrate alternatives.Carr's two other points in his Project 2025 chapter are to increase accountability measures for federal tech programs and to drive hard to develop 5G infrastructure.

Trump picked a Project 2025 coauthor to run the FCC. Here's what it means for Big Tech.

<ul class="summary-list"><li>Democrats hope blue states can be the party's redoubt against Trump's second term.</li><li>Democrats will be in the minority in both houses of Congress in January 2025.</li></ul>With Vice President Kamala Harris' presidential election loss, President Joe Biden leaving the White House in January, and Democrats looking ahead to life in a Senate chamber that they'll no longer control, the new year will bring a new reality: the party's power in Washington, DC will be diminished.A newly empowered Donald Trump, meanwhile, is aiming to reshape the federal government to a degree that he failed to achieve in his first term. He's assembling <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-white-house-staff-cabinet-picks-list-2024-11">an array of loyalists</a> to help further his goals on everything from immigration to foreign policy.Early in Trump's first presidency, protests against his administration were common in Washington and other cities. And as Trump's first term progressed, Democrats remained laser-focused on opposing him. The party harnessed that energy to retake the House in 2018, win back the presidency in 2020, and flip the Senate in 2021.But this time, the Democratic Party appears to be coalescing around a revised strategy.Democratic officials and activists are <a target="_blank" class="" href="https://www.nytimes.com/2024/11/16/us/politics/democrats-anti-trump-battle-plan.html">hoping blue states</a> can be the center of opposition to the president-elect, The New York Times reported. From abortion rights to paid leave, the party sees its Democratic strongholds as bulwarks against Trump, especially with <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-supreme-court-conservatives-election-2024-11">the US Supreme Court</a> dominated by conservative jurists.Democrats are also building up a legal operation to challenge the new administration, according to the Times. The newspaper reported that advocacy groups are rallying hundreds of attorneys to fight Trump's agenda from the start of the president-elect's second term.Skye Perryman, the CEO of Democracy Forward, a nonprofit organization created after Trump's win in 2016, told the Times that challenges to the president-elect will be different in his second term."Resistance this time is a lot more about collective power building," she said. "It's using the law and using litigation."Democrats are also already looking ahead to the 2028 election.While Democrats are <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-blue-wall-democrats-suburban-voters-unions-2024-11">still smarting over Harris' loss</a> — and trying to assess how their party can reverse electoral gains that Trump made with working-class voters — many of the party's crop of governors have emerged as potential 2028 contenders.Democrats occupy 23 of the nation's 50 governorships, which will remain unchanged at the beginning of the year. Some of them — like Govs. <a target="_blank" class="" href="https://www.businessinsider.com/gavin-newsom-california-gubernatorial-recall-election-landslide-win-2021-9">Gavin Newsom</a> of California, JB Pritzker of Illinois, and Gretchen Whitmer of Michigan — have long been considered White House aspirants.For Democrats, the focus on states will give many of these leaders a platform as Trump aims to enact a conservative agenda in a nation that remains politically divided. Harris easily won California and Illinois in the general election, but she lost Michigan — a state that for years had been <a target="_blank" href="https://www.businessinsider.com/harris-trump-blue-wall-economic-message-unions-michigan-pennsylvania-wisconsin-2024-10">part of the party's vaunted blue wall</a> — by about 1.4 points.After the election, Newsom called a special session, which will begin on December 2 in Sacramento, to boost the state's legal resources to challenge the incoming administration on issues like abortion, civil rights, climate regulations, and immigration.Pritzker <a target="_blank" class="" href="https://chicago.suntimes.com/elections/2024/11/07/pritzker-donald-trump-second-term-defend-illinois-remarks">pledged to work</a> with the Trump administration but also called himself a "warrior" for his state."To anyone who intends to come take away the freedom, opportunity, and dignity of Illinoisans, I would remind you that a happy warrior is still a warrior," the governor, now in his second term, <a target="_blank" class="" href="https://x.com/GovPritzker/status/1854686495975551159">wrote on X</a>. "You come for my people — you come through me."Meanwhile, Whitmer reiterated that she worked with Trump during her first term and would find a way to do so again."We'll figure out how to work with a Trump administration into this last two years of my term," she told reporters after the election.

You Searched For "foreign policy" and got 11 results

The Bitcoin rally does not seem to be stopping anytime soon! Does this spell good news for Indian markets?

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India's forex reserves at record high of USD 675 billion, external sector resilient: RBI Governor Shaktikanta Das

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Israel's airstrikes and incursion against Hezbollah show that the US can't easily rein in Netanyahu, foreign policy experts say

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Rupee rises 7 paise to 84.22 against US dollar in early trade

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Rupee rises 5 paise to 84.26 against US dollar in early trade

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Trump's Treasury Secretary: The best commentary about who the president-elect should nominate

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Trump picked a Project 2025 coauthor to run the FCC. Here's what it means for Big Tech.

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Democrats are hoping blue states can hold the line in their battle against Trump's second-term agenda

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