President Donald Trump will control the so-called golden share thats part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange Commission.
State Bank of India is set to raise up to 25,000 crore via a QIP, its first since 2017, aiming to boost its CET-1 capital ratio from the current 11%. Six investment banks, including Kotak and Morgan Stanley, will manage the issue, potentially Indias largest QIP to date.
India's foreign direct investment surged to $8.8 billion in April, a 22% increase year-over-year, bolstering the RBI's foreign exchange reserves. While non-resident deposit inflows slowed, overall external commercial borrowing rose significantly. Despite a drop in foreign portfolio investment, India's external sector remains resilient, with forex reserves reaching $698.95 billion in June.
Trading on Wall Street is mixed early Wednesday as a fragile truce between Israel and Iran appeared to be holding and oil prices stabilized after a two-day slide.
