TRADE RELATIONS BRAZIL

India-NZ FTA in force: Over half of New Zealand’s exports to India now tariff-free, Wellington also eyes Brazil, Canada

New Zealand is working to strengthen trade relations with Brazil and Canada in response to economic uncertainties. The country expects to complete the first New Zealand-Brazil Trade and Investment Dialogue after upcoming elections. A new free trade agreement with India has been implemented, making more than half of exports tariff-free. The agreement will benefit various products, including sheep meat and wool, as well as local businesses.

Fed sneezes, but emerging markets aren't catching a cold yet: McGeever

Emerging markets are displaying surprising economic resilience in light of the Federal Reserve's tightening measures. Stronger fiscal fundamentals and high bond yields provide emerging market central banks with greater flexibility. Some countries are even considering rate cuts, which may not have been possible in the past. Investor sentiment is shifting towards emerging markets as they are viewed more favorably compared to developed economies.

500%, 100%, then a waiver: How India escaped Trump's Russia tariff threat

In the beginning it was 500%, then it came down to 100% and then, a waiver. This is how the tariff threat has evolved from an ambitious proposal into a more flexible instrument of policy for Trump and US. For India, the immediate danger has receded. But with US retaining the power to reinstate the measures, the waiver offers relief rather than a lasting resolution.

Lula vs Bolsonaro: As Brazil lies on the brink of tilting right, India watches its major BRICS partner

Flávio Bolsonaro secured leading votes against incumbent Luiz Inácio Lula da Silva in Brazil's elections on October 4. The runoff on October 25 could solidify right-wing power across South America, following a regional trend. Lula aims to reduce economic inequality while Bolsonaro focuses on crime and spending cuts. India is observing the elections closely due to its strategic partnership with Brazil in various sectors.

Sugar stocks Balrampur Chini, Bajaj Sugar, others crash up to 7% as centre stops diversion to ethanol

Sugar stocks dropped in early trading following the government's directive to cease sugar diversion for ethanol production. The decision impacts major sugar companies like Balrampur Chini Mills and Bajaj Hindusthan Sugar, which experienced a decline between 2% and 7%. This directive aims to enhance domestic sugar availability amidst rising prices. The government's action follows concerns about potential production shortfalls due to insufficient rainfall.

Indonesia stocks, rupiah tumble as MSCI weighs market downgrade

Global index provider MSCI is contemplating downgrading Indonesia's stock market to standalone status. Such a reclassification could notably diminish Indonesia's appeal to global investors and alter its presence in international indexes. This year, Indonesia's share within MSCI's emerging markets index has dwindled. A downgrade would position Indonesia as the largest economy in this standalone category, inciting uncertainty for investment funds linked to MSCI indices.

ET Evoke: ‘Shipping, moving 80% world trade, is far more volatile than stocks,’ says Harvard University's Myrto Kalouptsidi

Myrto Kalouptsidi, Harvard professor of international economics, explains how shipping disruptions at chokepoints such as Hormuz, Suez and Ukraine can sharply reduce effective fleet capacity, trigger volatile freight rates and raise goods prices. She also discusses empty ships, global trade imbalances, China’s shipbuilding dominance and climate change risks to maritime infrastructure.

India, 14 others ink joint ministerial statement to curb structural excess capacity

India has joined the US, EU, UK and 12 other economies in a joint statement to tackle structural excess capacity and production, despite facing a US trade probe over alleged overcapacity. The signatories will examine key sectors including EVs, batteries, chemicals, semiconductors and solar panels through dedicated sectoral platforms.

Sugar stocks Balrampur Chini, Dhampur Sugar, others rally up to 8%. What’s behind the uptick?

Sugar stocks, including Balrampur Chini, Dhampur Sugar and EID Parry, rallied sharply on Tuesday as raw sugar futures remained near two-year highs. Rising supply concerns in Brazil, Europe and Thailand, along with stronger festive-season demand, have lifted expectations of tighter global sugar supplies and supported the recent rally.

The debate is settling, the business is moving. Time to look at a larger set? 9 sugar-ethanol ecosystem stocks for the watchlist

A new fuel programme is not an easy thing to implement. And it sparks intense debate. Ethanol, for instance, has taken over two decades to reach some scale, and it has been dogged by controversies. But the noise is now dying down as it meets targets that were said to be impossible to achieve. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.

India could see rebound in investor interest when AI-led rally slows: S Naren

Given the current market dynamics, investors are encouraged to reassess their asset allocation strategies. The evolving US AI landscape combined with heightened geopolitical tensions presents challenges to global markets. While the short-term earnings outlook is promising, the future growth trajectory will largely depend on how the US AI cycle evolves. Gold continues to be a recommended investment choice, yet caution is advised regarding international investments.

Egypt navigates Mecca pact, steps up ties with India

President Abdel Fattah el-Sisi of Egypt met Indian Prime Minister Narendra Modi to deliberate over the Mecca Pact. Their talks centered on fostering robust bilateral strategic partnerships, amid Egypt's choice to refrain from joining the defense pact. Observers remark that the Mecca Pact's relevance is questionable due to a shared enemy's absence. Nonetheless, Egypt positions itself as a crucial stabilizing force within the region.

India goes FTA shopping at G20 as Piyush Goyal works the room with a cart full of trade deals

India's Commerce Minister Piyush Goyal is actively engaged in negotiations for several trade agreements at the G20 meeting. Talks with the US include an interim pact and finalizing issues for a broader agreement. Discussions with Canada aim to conclude a Comprehensive Economic Partnership Agreement by the end of 2026. Existing trade agreements with the UK and Australia are also under review for their implementation and effectiveness.

Trump’s diesel squeeze may put Indian refiners in a sweet spot, and a bind

A potential US diesel export ban could worsen an already tight global fuel market by removing about 1.2 million barrels a day of supply at a time when Middle Eastern, Russian and Chinese exports are constrained. Europe would be particularly exposed, while India could gain export opportunities for its refiners but also face higher crude and domestic fuel costs as global buyers compete for scarce diesel.

US 10-year yield at 24-year high rattles Nifty, rupee and bond markets. Why is India hit hard?

The US 10-year Treasury yield surged to a 24-year high, triggering a global bond sell-off and pressuring Indian equities, bonds and the rupee. Higher US borrowing costs are raising concerns over FII outflows, currency weakness, imported inflation and RBI policy. Rising crude prices are adding to the pressure on Indian markets.

Commerce Minister Piyush Goyal meets Brazil's FM Mauro Vieira on G20 sidelines in Milwaukee

US indifference to terrorism from neighbour impacts ties: Jaishankar

India's external affairs minister S Jaishankar addressed concerns regarding bilateral relations with the United States. He highlighted that India's issues with cross-border terrorism should be understood by its partners. Jaishankar also noted that greater empathy regarding India's security challenges is necessary for the relationship to flourish.

Carbon credits need more than a nod

Britain recognised India's Carbon Credit Trading Scheme (CCTS) as a qualifying carbon-pricing mechanism under its Carbon Border Adjustment Mechanism (CBAM), thus joining an established club of recognised carbon-pricing jurisdictions. The recognition, however, doesn't automatically strengthen India's efforts to achieve equivalence with existing or future carbon border adjustment mechanisms. However, it demonstrates the value of sustained technical engagement in addressing complex issues in a mutually beneficial manner.

Redefining global finance: Emergence of alternative payment infrastructure

Chairman of PSB Bank Petr Fradkov, in an interview with RBC, discusses what is happening in one of the most closed sectors of the economy, cross-border payments, and how the A7 international payment system operates, which essentially lacks international payments.

Emerging market investors shun riskiest bonds as US yields soar

Emerging-market investors are pulling back from riskier bond investments amid a significant selloff in global credit markets. The recent turmoil has resulted in high yields for US Treasuries, raising concerns among money managers. With credit spreads at tight levels not seen since 2007, investors are worried about potential bond selloffs. Some analysts are trimming exposure to certain countries while favoring higher-rated credits like Indonesia and the Philippines.

Canada at UNGA: Building renewed partnerships, strengthening multilateralism with India, others

Canadian Foreign Minister Anita Anand highlighted efforts to build renewed partnerships with large economies like India and China, as well as new initiatives with New Delhi to strengthen multilateralism, at the UN General Assembly. She said Canada is focused on diversifying its trade and catalysing a trillion dollars of investment in the country over the next five years. Efforts to strenghten multilateralism is underway with an inaugural multilateralism summit, co-sponsored by India, at the UN.

Mexico, Brazil, UK see rising medical device imports, opening export opportunities for India: Report

Mexico, Brazil, the UK, Poland and Canada have emerged as high-growth markets for Indian medical equipment exports, India Exim Bank said. The study flagged modest Indian export shares despite rising import demand, and recommended regulatory alignment, stronger R&D, component manufacturing, skills development and trade promotion to expand global market presence.

'The Big Short' fame Michael Burry bets on copper. Is red metal heading for a hot rally?

‘The Big Short’ fame Michael Burry has disclosed a long position in copper producer Ero Copper, as supply constraints, falling inventories and limited discoveries fuel expectations of further gains in the red metal.