
A Top Indian Pension Fund Manager Is Betting on 30-Year Bonds
The yield gap between India's 30- and 10-year sovereign notes has widened to levels last seen four years ago, after the central bank in June signaled that it may not cut rates further soon. This makes long-tenor bonds attractive for pension funds, which typically seek to lock in higher returns for longer periods.
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Yahoo
2 hours ago
- Yahoo
Modi joins Maldives independence day celebrations, signals easing tensions amid China rivalry
Maldives India COLOMBO, Sri Lanka (AP) — Indian Prime Minister Narendra Modi Saturday participated Saturday in the 60th Independence Day celebrations of the Maldives, concluding a two-day visit to the island nation. During the trip, Modi also announced financial assistance and formally launched talks on a proposed free trade agreement. The two-day visit was seen as crucial to India's ambition to control the seas and shipping routes of the Indian Ocean in a race with its regional rival China. It signaled a thaw in diplomatic tensions that followed the election of pro-China Maldivian President Mohamed Muizzu in 2023. Modi joined a distinguished gathering at Republic Square in the capital, Malé, where a military parade and cultural performances marked the anniversary of the Maldives gaining independence from British rule in 1965. On Friday, following talks with Maldivian President Mohamed Muizzu, Modi announced a credit line of $565 million to support development projects in the Maldives. The visit coincided with the anniversary of the establishment of diplomatic ties between the two nations in 1965. It also saw the start of talks on a free trade agreement. The two leaders oversaw the exchange of signed agreements to cooperate in sectors such as fisheries, health, tourism and digital development. Modi also handed over dozens of heavy vehicles donated by India to strengthen the Maldives' defense forces. The Maldives — an archipelago nation strategically located in the Indian Ocean — is a focal point in the growing geopolitical rivalry between India and China. Tensions grew when Muizzu, who favored closer ties with China, was elected in 2023 after defeating the India-friendly incumbent Ibrahim Mohamed Solih. Leading up to the election, Muizzu had promised to expel Indian soldiers deployed in the Maldives to help with humanitarian assistance. Last year New Delhi replaced dozens of its soldiers in the Maldives with civilian experts. Measures by Modi to promote tourism in India's Lakshadweep archipelago, off the southwestern coast of the Indian mainland, also sparked anger from Maldivians, who saw it as a move to lure Indian tourists away from their country. Indian celebrities then called for a tourism boycott of the Maldives. Tensions escalated last year when President Muizzu visited China before India, a move widely interpreted in New Delhi as a diplomatic snub. On his return, Muizzu outlined plans to reduce the Maldives' reliance on India for medical services, pharmaceuticals, and essential imports such as food staples. Relations started to improve after Muizzu attended Modi's swearing-in ceremony for a third five-year term last year. Muizzu has since toned down his anti-Indian rhetoric, and official contacts with New Delhi have intensified amid growing concern about the Maldives' economy. During a visit by Muizzu to India last October, India pledged financial support to the Maldives, which has been struggling with debt. This included $100 million in short-term government loans and agreeing to a $400 million currency swap to help stabilize the Maldivian economy. India has long been a key development partner for the Maldives. However, the island nation has also deepened ties with China, joining its Belt and Road Initiative in 2013 to build infrastructure and expand trade — part of Beijing's broader effort to increase its global influence. Solve the daily Crossword


Washington Post
3 hours ago
- Washington Post
Trump bill adds $250 fee for some foreign travelers. Here's how it works.
For many foreign nationals, a new visa fee will increase the cost of traveling to the United States by $250. The 'visa integrity fee,' included in the sweeping policy legislation that President Donald Trump signed into law this month, will require visitors traveling on a nonimmigrant visa to pay an additional $250. This group includes leisure and business travelers as well as international students from a wide range of countries such as India, China, Mexico, Brazil, South Africa and the Philippines. Applicants must pay this amount on top of other visa fees that often total nearly $200.


Entrepreneur
7 hours ago
- Entrepreneur
Yali Capital Closes ₹893 Crore Deep Tech Fund
The fund will invest in both early-stage (Seed, Series A) and late-stage (Series D and beyond) startups, with a strong emphasis on deep-tech domains such as semiconductors, artificial intelligence, robotics, genomics, aerospace/surveillance, and smart manufacturing. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Yali Capital, a SEBI-registered Category II Alternative Investment Fund (AIF), has announced the successful close of its maiden deep tech-focused fund at INR 893 crore (approximately USD 104 million), significantly surpassing its initial target of INR 500 crore and a INR 310 crore greenshoe option. The fund will invest in both early-stage (Seed, Series A) and late-stage (Series D and beyond) startups, with a strong emphasis on deep-tech domains such as semiconductors, artificial intelligence, robotics, genomics, aerospace/surveillance, and smart manufacturing. Lip-Bu Tan, veteran investor and advisor to Yali Capital, said, "I strongly believe in India's deep tech capabilities. It is heartening to see the government, global corporations, and successful entrepreneurs come together to back Yali's deep tech thesis. I look forward to supporting Yali in laying the foundation for India's deep tech ecosystem." To attract a global investor base, Yali Capital operates through a dual-structure setup, comprising the SEBI-regulated AIF and a feeder vehicle based in GIFT City. The firm has already made five investments, covering sectors like chip design and AI, and aims to expand its portfolio to eight companies by the end of the year. Yali's Limited Partners (LPs) span a diverse and influential set of backers, including: Infosys, Qualcomm Ventures, Tata AIG; Funds of Funds such as DPIIT's Fund of Funds for Startups (managed by SIDBI), Self-Reliant India Fund, Evolvence, and Singularity FOF; Prominent Individuals such as Kris Gopalakrishnan (Pratithi), Gopal Srinivasan (TVS Capital), Vallabh Bhansali (ENAM), Utpal Sheth (RARE Enterprises), Vishal Kampani (JM Financial), Sanjay Nayak (Tejas Networks), Nambi Seshadri (ex-CTO, Broadcom Wireless), and C. Srinivasan (Cosmic Circuits). Mathew Cyriac, General Partner at Yali Capital, stated: "Nearly a third of our fund will be invested in late-stage deep tech companies. India has a real opportunity to build globally competitive public companies in this space. We are grateful to the global investor community for backing our vision." Yali has already disclosed investments in companies including C2I Semiconductor, 4basecare, and Perceptyne. The fund intends to continue deploying capital actively over the next four years. Ganapathy Subramaniam, Founding Managing Partner of Yali Capital, added, "We are deeply grateful for the overwhelming support from the global tech community. Two-thirds of the fund will be deployed in early-stage deep tech startups. We firmly believe in India's deep tech potential and are committed to backing visionary founders with patient capital."