European shares opened slightly below their all-time highs as traders awaited the release of US jobs data. The data was expected to provide further insight into the Federal Reserve’s plans for monetary policy easing.
RBI Keeps Rates on Hold as New Modi Administration Awaited
India’s central bank, as expected, has decided to keep its benchmark interest rate unchanged. The decision was made in order to prioritize controlling inflation, especially in the midst of policy uncertainty following an unexpected election result.
Samsung Union Goes on First-Ever Strike Over Pay Dispute
In an unprecedented move, the largest union at Samsung Electronics Co. has initiated a strike, marking the first time in the company’s 55-year history. The dispute over pay has become so entrenched that both sides have ceased all discussions.
Oil Set for Weekly Loss After OPEC+ Supply Plan Rattles Market
In a surprising move, OPEC+ has announced plans to increase oil supply later this year, causing oil prices to decline for the week. However, members of the alliance have reassured the market that they are committed to maintaining stability. Saudi Arabia and other OPEC+ ministers have stated that they are prepared to react and adjust supply as needed.
Asia shares set for weekly gain on rate-cut rally
Asian stocks are poised to end a two-week losing streak as major central banks initiate their rate easing cycles. This comes after the European Central Bank (ECB) and the Bank of Canada both announced rate cuts, following in the footsteps of Sweden’s Riksbank and the Swiss National Bank.
Dollar hovers near 8-week low as payrolls test looms
The U.S. dollar remained near its lowest level in eight weeks on Friday, as investors awaited the release of the U.S. jobs report, which is expected to provide insights into the timing of Federal Reserve interest rate cuts.
Korean AI Startup Wrtn Raises Funds in Round Led by BRV Capital
Wrtn Technologies Inc., a South Korean AI startup, has successfully raised 25 billion won ($18.3 million) in a funding round led by BRV Capital Management. The pre-Series B funding round also saw participation from existing investors such as Capstone Partners Inc., Industrial Bank of Korea, and Z Venture Capital.
India Stock Futures Steady Ahead of Central Bank Rate Decision
India’s stock futures remained stable on Friday as investors awaited the central bank’s first monetary policy decision following Prime Minister Narendra Modi’s weak election victory, which raised concerns about potential fiscal populism.