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Stock Market LIVE: GIFT Nifty up; Nikkei up 2.5% on US trade deal; Infosys, Paytm, Dixon Q1 eyed
6:55 AM
Stock Market LIVE Updates: Asian markets pops on US-Japan trade deal
Stock Market LIVE Updates: Asian markets pops on US-Japan trade deal
-- Nikkei up about 2.5 per cent
-- Topix up 2.51 per cent
-- ASX 200 jumps 0.42 per cent
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Russia launches monthly direct flights to North Korea amid growing ties
Russia has launched direct commercial flights to North Korea, signalling a further strengthening of relations between Moscow and Pyongyang. The first Moscow-Pyongyang service, operated by Nordwind Airlines, departed Sheremetyevo airport on Sunday and is expected to run once a month initially. read more People wait outside Terminal C at the Sheremetyevo international airport outside Moscow, Russia. File image/ Reuters Russia inaugurated direct commercial flights to North Korea on Sunday, signalling deeper links with its Asian ally that will aid its push in Ukraine. According to the Sheremetyevo airport's website, the first Moscow-Pyongyang flight operated by Russia's Nordwind Airlines took off at 16:25 GMT. It is slated to arrive in the North Korean capital around eight hours later. However, Russia's transport ministry stated that the route will only be serviced once a month at first. STORY CONTINUES BELOW THIS AD Tickets for Nordwind Airlines, which used to transport Russians to European vacation spots prior to the EU banning Russian flights, cost 45,000 rubles ($570). 'This is a historical event, strengthening the ties between our nations,' Oleg, a Nordwind employee managing the flight who did not want to give his full name, told AFP at the airport. More from World Ukrainian drone strikes force Kremlin to scale down Navy Day celebrations He also declined to say how many passengers were on board. 'For the first time in more than 70 years of diplomatic relations, we are launching direct flights between the capitals of our countries,' Russia's deputy transport minister Vladimir Poteshkin was quoted as saying by the ministry's Telegram account. Russia's state news agency TASS reported that the first return flight from Pyongyang to Moscow would take place on Tuesday. Russia and North Korea restored train links on June 17 after suspending them in 2020 during the Covid pandemic. The two countries have been forging closer military bonds in recent years, with Pyongyang supplying troops and weapons for Russia's military operations in Ukraine. They signed a mutual defence pact last year, when Russian President Vladimir Putin visited North Korea. North Korea confirmed for the first time in April that it had deployed a contingent of its soldiers to the frontline in Ukraine, alongside Russian troops.
Time of India
an hour ago
- Time of India
Lenskart IPO: Shareholders approve Rs 2,150 crore initial public offering; DRHP filing likely soon, says report
Lenskart is moving closer to its much-anticipated stock market debut, with shareholders formally approving its initial public offering plans at the company's annual general meeting held on Saturday. The omnichannel eyewear firm plans to raise Rs 2,150 crore ($250 million) as part of the public issue, which could reach up to $1 billion in total size, according to ET citing people familiar with the matter. The company is expected to file its draft red herring prospectus (DRHP) with Sebi in the coming days, joining a growing list of new-age ventures—such as Meesho, Groww, Pine Labs, and PhysicsWallah—that are preparing to tap public markets in 2025. Collectively, over 14 such firms aim to raise more than Rs 20,000 crore this year, ET reported. Filings showed that shareholders, including SoftBank, Kedaara Capital, Abu Dhabi Investment Authority, Fidelity, and Temasek, also approved the adoption of a new employee stock option plan—Esop 2025—comprising 7.2 million shares. As per data from Tracxn, around 19% of Lenskart's shares are currently allocated to its Esop pool. ET had reported on July 10 that the company plans to issue additional shares to founder and CEO Peyush Bansal via a structured payout, potentially increasing his holding by 1.5-2%. Bansal and his sister Neha Bansal, who is also a cofounder, together own 14-15% of the company. Lenskart, which won the ET Startup Awards 2024 in the Startup of the Year category, operates in India and international markets such as the Middle East, Southeast Asia, Australia, Japan, and South Korea. In FY24, the company's operating revenue rose 43% year-on-year to Rs 5,428 crore, while net loss narrowed to Rs 10 crore from Rs 64 crore in the previous fiscal. In an October interview with ET, Peyush Bansal said Lenskart was investing $200 million in a new manufacturing plant in southern India. Currently, the company manufactures frames and lenses at its facility in Rajasthan. Lenskart was valued at $5 billion in its last funding round in June 2024. US-based Fidelity marked up the eyewear brand's valuation by more than 20% to $6.1 billion as of April-end. The company's omnichannel strategy—blending online sales with over 2,500 retail outlets—has been a key growth driver. While online revenues have outpaced offline growth over the last 2–3 years, Lenskart continues to expand its store network aggressively. Filings also revealed that PaySense cofounder Sayali Karanjkar and IndMoney founder Ashish Kashyap have joined the board as independent directors. Peyush Bansal has been appointed as chairman, managing director and CEO, while Neha Bansal and cofounder Amit Chaudhary have been named executive directors. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
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'We have reached a deal...': Donald Trump announces US-EU trade agreement; says 'good deal for everybody' after talks with EU chief
Donald Trump trade deals (AI image) US-EU trade deal: US President Donald Trump on Sunday said that America and the European Union have 'reached a deal' on trade. "We have reached a deal. It's a good deal for everybody," Trump said. EU chief Ursula von der Leyen also hailed a 'good deal' with America, according to an AFP report. Earlier Trump had said that EU export tariffs would remain at a minimum of 15% during crucial trade discussions with the European Union's leader in Scotland. When questioned by a journalist about the possibility of reducing the tariff rate, Trump replied "No" whilst seated next to EU Commission President Ursula von der Leyen. He additionally clarified that pharmaceutical products would be excluded from any trade agreement. Trump and Ursula von der Leyen met in Scotland for crucial discussions, seeking to resolve the prolonged transatlantic trade dispute, with negotiations reaching their final stages. Trump had maintained his stance that there was an equal probability of reaching an agreement with the European Union. The bloc had confronted a 30 percent US tariff unless a trade agreement was secured by August 1. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Struggling With Belly Fat? Try This at Home Home Fitness Hack Shop Now Undo Trump said on Sunday that "the deals all start on August 1", whilst Washington emphasised there would be "no extensions". The European Commission, under von der Leyen's leadership and representing EU member states, was working intensively to secure an agreement to preserve the trade relationship, which accounts for $1.9 trillion annually in goods and services. Speaking at the start of negotiations at Trump's upscale golf resort in Turnberry, the EU leader stated that if an agreement was reached, "I think it would be the biggest deal each of us has ever" made. The meeting between Trump and von der Leyen was held at the president's upscale golf resort situated in Turnberry along Scotland's southwestern shoreline. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
