Cube Highways InvIT Acquires Two Major Road Assets from NIIF for ₹4184 Crore

On June 6, the Reserve Bank of India will reveal the outcome of its Monetary Policy Committee's review, which started on June 4. Experts anticipate a third consecutive rate cut of 25 bps, driven by a lower consumer price index of 3.16% in April. While some analysts see this as an unnecessary move, it reflects an opportunistic stance due to favorable inflation results. Additionally, the RBI's GDP forecast will be closely watched, as India's economy grew by 7.4% in the last quarter, surpassing expectations. The announcement will be made at 10 am, with a press briefing available online.

Mirae Asset AMC has gained approval from SEBI to launch a Specialised Investment Fund (SIF), marking its entry into a new investment category. This fund aims to provide investors with more flexibility and customization, filling the gap between mutual funds and portfolio management services. The first SIF will focus on equity and will be branded as Platinum by Mirae Asset Mutual Fund. With this step, Mirae Asset joins leading AMCs like Quant and Edelweiss in offering SIFs, while also planning to expand its presence in Gift City for mutual funds and ETFs.

Congress MP Shashi Tharoor, leading an all-party delegation to the US, firmly stated that India will not engage in talks with Pakistan while facing threats of terrorism. He emphasized that dialogue is impossible when there's a "gun pointed at our head." Tharoor made it clear that the delegation's purpose is to clarify India's position, not to negotiate. He warned that if Pakistan continues to harbor terror elements, India will not hesitate to retaliate. The message is clear: India seeks understanding and solidarity from the international community while standing firm on its security stance.

Gold and silver prices are on the rise, driven by geopolitical tensions and economic uncertainty. In the past fortnight, gold has surged around 6.5% and silver over 10% globally, while in India, gold and silver prices have increased by 3.5% and 5.25%, respectively. Factors such as the Russia-Ukraine conflict and trade war fears are influencing this trend. Additionally, the ongoing wedding season in India is contributing to increased demand for gold. Experts predict further price hikes, although some short-term corrections may occur, presenting opportunities for long-term investors.

In Noida, young volunteers and civic officials united for a powerful cleanup drive along the Yamuna River, celebrating World Environment Day. Organized by the YSS Foundation with various partners, this event focused on cleaning the riverbank and promoting awareness about plastic pollution, described as a "modern demon" by officials. They emphasized the need for youth to take responsibility for the environment, aiming to inspire lasting change. Participants pledged to protect the Yamuna and reduce plastic use, highlighting the urgency of civic action against environmental challenges.

In a surprising twist, tech giant Elon Musk and former U.S. President Donald Trump once shared a close bond. Musk, who publicly supported Trump during his campaign, even became the largest donor, contributing nearly $300 million. Their camaraderie was highlighted by public appearances, including Musk's visit to the Oval Office with his son, "Lil' X." However, tensions arose over Musk's criticism of Trump's policies, leading to their eventual fallout. Despite the dramatic friendship, Musk's business interests were intertwined with Trump’s presidency, raising questions about loyalty and political alliances.

Tesla's share price plummeted over 14% on Thursday amid a heated dispute between CEO Elon Musk and US President Trump. The stock closed at $284.70, marking a significant decline in four of the last five trading sessions, leading to a loss of approximately $150 billion in market value. The tension escalated as Musk criticized Trump's tax legislation, which affects electric vehicle tax benefits, while Trump threatened to revoke Musk's government subsidies. The fallout impacted the broader market, dragging down major indices like Nasdaq and the S&P 500.

The celebration of Royal Challengers Bengaluru (RCB) winning their first IPL title turned tragic as a stampede outside M Chinnaswamy Stadium led to 11 fatalities. Fans flooded the streets of Bengaluru, gathering for the victory parade where players were honored by the chief minister. Despite the festive atmosphere, the excitement was overshadowed by the unfortunate incident. After years of disappointment in finals, RCB finally claimed the trophy, with players like Virat Kohli expressing deep emotions about this long-awaited victory, making it a bittersweet moment for the fans and the team.

The Dow Jones Industrial Average ended the day lower at 42,427.74, marking a slight drop of 0.22%. This decrease of 91.90 points highlights the fluctuations in the stock market, with the index reaching a high of 42,645.00 and a low of 42,456.03 during the trading session. Such movements can greatly influence investor sentiment and market trends, emphasizing the importance of keeping an eye on these changes in the financial landscape.

A recent survey reveals that affluent Indian households are heavily invested in real estate, with dissatisfaction over investment returns despite a strong market. Many high net worth individuals feel unprepared for their financial goals, with 40% unhappy with returns and 30% lacking saving discipline. Most rely on external advisors but often find their advice lacking. The survey highlights a disconnect between aspirations like early retirement and actual savings habits, with a need for better understanding of investment strategies to balance risk and liquidity.

President Trump has raised tariffs on steel and aluminum imports from 25% to 50%, starting June 4. He claims this move is crucial for national security and will bolster domestic industries. The increased tariffs aim to protect U.S. manufacturers by reducing dependence on foreign imports. While the UK maintains its 25% tariff as negotiations continue, Trump's decision heightens trade tensions globally. Despite ongoing legal challenges to his tariffs, this action demonstrates his commitment to prioritizing American industries and ensuring they remain competitive.

The Income Tax Department is closely examining the spending habits of high net-worth individuals (HNIs) in India who may not be paying taxes proportional to their income. Despite around 7-8 lakh individuals earning over ₹1 crore annually, only 3 lakh file tax returns. The government is leveraging technology for a comprehensive assessment of HNI incomes by analyzing high-value transactions, foreign remittances, and spending on luxury goods. New measures like Tax Collected at Source (TCS) on luxury purchases aim to ensure HNIs contribute fairly to the tax system, promoting transparency and efficiency.

The Census in India, including caste data, is set to commence on March 1, 2027, as confirmed by sources. This nationwide count will occur in two phases, starting in snow-bound areas like Ladakh and Himachal Pradesh in October 2026. The inclusion of caste enumeration aims to promote social and economic empowerment, according to Union Minister Ashwini Vaishnaw. Initially planned for 2026, the Census was postponed due to the pandemic, making the 2027 exercise the first in 16 years. This crucial data will aid in national progress and policy-making.

Apple is expanding its retail footprint in India with a new store in North Bengaluru’s Phoenix Mall of Asia, marking its third outlet in the country. This follows the flagship stores in Mumbai and Delhi. The lease for a spacious 7,997.8 square foot area has been signed for 10 years, starting with an annual rent of ₹2.09 crore. This store will strengthen Apple's presence in Bengaluru, where its manufacturing partner, Foxconn, is also setting up a facility. With plans for more stores in Delhi NCR, Mumbai, Pune, and Bengaluru, Apple is betting big on the Indian market.

Tesla, owned by Elon Musk, is not planning to manufacture in India, focusing only on showroom expansion. Union Minister HD Kumaraswamy confirmed this, noting Tesla's lack of interest in local production. However, companies like Hyundai and Mercedes are eager to set up factories in India, thanks to new EV policies encouraging investment. These policies include reduced duties for significant investments and mandates for local sourcing of parts. As the application window for an electric car manufacturing scheme opens soon, India remains attractive for international automakers despite Tesla's hesitance.

Gold and silver prices have surged due to global uncertainties, including US-China trade tensions and the ongoing Russia-Ukraine conflict. As of June 5, gold is priced at ₹96,806 per 10 grams, while silver has crossed ₹1 lakh per kg. With gold providing impressive returns of 25% year-on-year and a strong recommendation for a 5-10% portfolio allocation in gold, investors are advised to view these precious metals as a hedge against inflation and market volatility. The article also lists specific prices across major Indian cities, highlighting the importance of checking local rates before investing.

President Donald Trump has announced a ban on visas for foreign students planning to attend Harvard University, citing national security concerns. This decision, seen as part of a broader crackdown on higher education, suggests that Harvard has become "unsuitable" for international students due to its non-compliance with federal demands. The order follows a previous court ruling that blocked the Department of Homeland Security's attempt to restrict international students. As tensions rise between the government and the prestigious university, the implications for foreign scholars and the academic community are significant.

Russian President Vladimir Putin warned U.S. President Donald Trump of a potential response to Ukrainian drone attacks on Russia's nuclear bombers. Despite ongoing peace talks described as “useful,” the war in Ukraine escalates as both nations exchange accusations. Trump highlighted a lengthy phone call with Putin discussing these tensions and the need for peace, while Putin criticized Ukraine's leadership for not seeking negotiations. The situation remains precarious, with fears of further military escalation as both sides prepare for potential responses.