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A Liberian ship, Eternity C, sank in the Red Sea after a Houthi rebel attack. The EU naval force rescued six of twenty-five crew members. Three people died in the assault. The Houthis claimed responsibility, releasing footage of the attack. International condemnation followed, with concerns raised about Red Sea safety. The Philippines is assisting families of missing sailors.
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News and Media
Tata Consultancy Services is projected to reveal a slight increase in dollar-denominated revenue growth for the June quarter, outperforming the previous quarter. Supported by a weaker dollar against the pound and euro, revenue is expected to rise by 1.2%. However, rupee-term revenue growth may be slower due to rupee appreciation, with a modest net profit increase anticipated.
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News and Media
The dollar index has significantly depreciated due to policy uncertainties and geopolitical factors, prompting diversification away from the dollar. While Asian currencies strengthened, the Indian rupee underperformed due to domestic vulnerabilities and energy shocks. Institutions are hedging dollar assets to protect against revaluation losses, indicating deeper structural shifts in global economic policies.
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News and Media
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