U.S. Vs Iran Nuclear 2.0? Trump Threatens 2nd Attack As Araghchi Vows To Keep Enriching Nukes
Russian Deputy Foreign Minister Sergey Ryabkov clarified that BRICS nations don't aim to replace the US dollar, but rather seek alternatives for mutual settlements to circumvent US sanctions. He stated BRICS intends to trade in national currencies, with Russia already conducting 90% of payments with partners in local denominations. This counters US President Trump's concerns and threats of tariffs on BRICS countries, who are also developing "BRICS Pay," a decentralized blockchain payment system for cross-border transactions.
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Mint
15 minutes ago
- Mint
India rules out ‘immediate retaliation' to Trump's 25% tariff shock; mulls ramping up gold, natural gas purchase from US
India is weighing options to placate the White House, including boosting US imports, and has ruled out immediate retaliation to President Donald Trump's surprise 25% tariff threat, according to people familiar with the matter. Officials in New Delhi were shocked and disappointed by Trump's announcement on Wednesday, the people said, asking not to be identified as the discussions are private. The government is keen to keep bilateral trade talks on track and is exploring ways to increase purchases from its largest trading partner, they said. India is considering ramping up its natural gas purchases from the US, and increase imports of communication equipment and gold, the people said. They added that boosting these purchases could help narrow India's trade surplus with the US over the next three to four years. No defense purchases are being planned, they said. Officials in New Delhi are not considering any immediate retaliation to Trump's tariff threat, the people said. The government has already reserved its right at the World Trade Organization to retaliate against the higher US duties on steel and automobiles at a time of its choosing. India's Commerce Minister Piyush Goyal — who just days earlier voiced confidence in securing a trade deal with Washington — told Parliament on Thursday that the government is now engaging with exporters to assess the impact of Trump's tariffs. 'The implications of the recent developments are being examined,' Goyal said, as the opposition staged loud protests. He added that his ministry is collecting feedback from exporters and industry groups, and will take 'all necessary steps to secure and advance our national interest.' It remains unclear whether New Delhi's moves will soften Trump's stance. Although the US leader and Prime Minister Narendra Modi have shared friendly ties and until recently sounded optimistic about finalizing a trade deal, Trump on Wednesday criticized India for its high tariffs and described its trade barriers as 'strenuous and obnoxious.' He also threatened to impose penalties on India for purchasing Russian energy and weapons. The president later told reporters that Washington and New Delhi were still in talks and that a final decision on the tariff would be made by the end of the week. Just a few hours later, however, he posted on Truth Social, saying, 'I don't care what India does with Russia,' and referred to both nations as 'dead economies.' The US had a trade deficit with India of about $43 billion last year, the 11th largest and well below countries like Vietnam, which stood at about $121 billion, according to figures from the International Monetary Fund. Trump earlier this month announced a tariff rate of 20% for Vietnam. US Treasury Secretary Scott Bessent on Thursday blamed India for slowing trade negotiations, telling CNBC that the 'whole trade team has been frustrated' with New Delhi. He added that the next steps are now up to India, and criticized the South Asian nation for not being a 'great global actor,' citing its close ties with Russia. India's government said Wednesday it remains committed to a trade deal that's 'mutually beneficial' and highlighted the need to protect its farmers and small businesses. Both sides had already agreed to conclude a bilateral trade deal by the fall of this year, with officials in New Delhi saying earlier this week that negotiators from the US would be visiting the country to continue the talks. Analysts are uncertain about how seriously to take Trump's remarks. 'Trump being Trump, we can't be sure,' said Abhijit Das, a New Delhi based international trade expert. 'This could be a negotiating ploy as he did something similar with the EU.' The US leader pressured the European Union into a trade deal by initially threatening 30% tariffs, then scaling them back to 15%. India's currency and stocks slid on Thursday, although the declines were relatively muted. The rupee fell as much as 0.4% to 87.7375 per dollar before recovering slightly to trade 0.2% lower at 10:50 a.m. local time. Meanwhile, the benchmark NSE Nifty 50 Index was down 0.5%, after having dropped as much as 0.9% earlier in the session. Despite considering a boost in purchases of American goods, the Modi government is unlikely to buy additional defense equipments from the US, a key demand from Trump, officials familiar with the matter said, asking not to be identified because the discussions are private. India has informed the US that it's not keen to buy the F-35 stealth fighter jets, they said. During Modi's visit to the White House in February, Trump had offered to sell the expensive warplanes to India. However, the Modi government is more interested in a partnership focused on jointly designing and manufacturing defense equipments domestically, the officials said. The Ministry of Defence in India didn't respond to a request for comment. Trump's recent remarks risk further straining already fragile US-India ties. The US president has repeatedly said that his use of trade pressure helped secure a ceasefire that ended a four-day armed conflict between India and Pakistan in May — a claim strongly denied by Modi and senior officials in New Delhi. Back in February, when relations between the two leaders were notably warm, Modi extended an invitation to Trump to visit India. New Delhi is expected to host a leaders summit of the Quadrilateral Security Dialogue, or Quad — which comprises the US, Japan, India and Australia — later this year. 'India is not in a position to promise huge import of energy from the US. Also, we are not in a position to talk about huge Indian investment taking place in the US,' said Ajay Dua, a former commerce ministry official, in an interview with Bloomberg TV, adding that the country now needs to be a 'little more accommodating in the ongoing negotiations.'
Mint
15 minutes ago
- Mint
M&B Engineering IPO day 3 Live: GMP, subscription status to review. Apply or not?
M&B Engineering IPO day 3 Live: Bidding for the initial public offering (IPO) of M&B Engineering Ltd opened on 30 July 2025 and will remain open until 1 August 2025. This means investors have just one day to apply for the public issue, as bidding for the M&B Engineering IPO will end today at 5:00 PM. According to the M&B Engineering IPO subscription status, the company has received a strong response from investors in the first two days of bidding. This strong response to the public issue is visible in the M&B Engineering IPO GMP (grey market premium). According to market observers, shares of the company are available at a premium of ₹ 58 in the grey market today, signalling a possible gain of around 15% against the M&B Engineering IPO price band of ₹ 385 apiece. As mentioned, M&B Engineering's IPO GMP today is ₹ 58, which is steady and signals a 15% return on one's money. This could become possible because of the resilience shown by the Indian stock market despite the imposition of Trump's tariffs from 1 August 2025. Market observers said that M&B Engineering IPO GMP may appreciate if the resilience on Dalal Street against Trump's tariffs on India gets extended during the Friday session. Shares of the Company debuted in the grey market on 26 July 2025 at around ₹ 65; since then, it has remained around this level. By 11:21 AM on day 3 of bidding, the public issue had been booked 5.91 times, the retail portion of the public offer had been subscribed 15.39 times, the NII segment had been filled 11.37 times, while the QIB portion had been subscribed 0.04 times. Assigning a 'subscribe' tag to the public issue, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, "M&B Engineering Limited brings over two decades of expertise in the pre-engineered buildings sector, backed by a strong ₹ 4,500 crore order book and a track record of positive operating cash flows. Its profitability profile improved significantly in FY25, with PAT of ₹ 77 crore and a RoNW of 25%. While the IPO is priced at ~28.5x FY25 earnings, a premium compared to its scale, strong growth visibility, consistent cash generation, and sectoral tailwinds support investor participation. Despite concerns around valuation and governance, the company's strong fundamentals, positive cash flows, and robust order pipeline make the IPO attractive at the current price band." Giving a 'subscribe' tag to the public issue, Anshul Jain, Head of Research at Lakshmishree Investment, said, "M&B Engineering Ltd. (MBEL) impresses with its 75% market share in self-supported roofing, a 25%+ ROE, and over 9,500 completed projects—underscoring leadership in India's PEB sector. Backed by strong order books, scalable operations, and strategic in-house design, MBEL is primed to ride the structural boom. Its export reach and experienced management further solidify its growth story. However, overdependence on PEBs and promoter-linked transactions raises governance and concentration risks. Despite these, MBEL's financial strength and sectoral demand tailwinds make it a compelling play. We believe the company offers solid long-term potential in infrastructure-driven growth. Verdict: Subscribe for sustained value creation." However, Shivani Nyati, Head of Wealth at Swastika Investmart, has assigned a 'avoid' tag to the public issue, saying, "The company is a key player in the PEB segment, catering to diverse industries. It has executed nearly 9,500 projects across its Phenix and Proflex divisions as of March 31, 2025. While profit after tax has grown, revenue has been inconsistent over the past three years. The IPO appears to be aggressively valued, based on which current conservative investors may consider avoiding this issue." In addition, Canara Bank Securities, Cholamandalam Securities, Marwadi Shares and Finance, Nirmal Bang, Reliance Securities, SMIFS and Ventura Securities have also assigned a 'subscribe' tag to the M&B Engineering IPO. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
NDTV
15 minutes ago
- NDTV
Trump Brings Back Presidential Fitness Test For American Schoolchildren
President Donald Trump on Thursday reestablished the Presidential Fitness Test for American children, a fixture of public schools for decades that gauged young people's health and athleticism with 1-mile runs, sit-ups and stretching exercises. "This is a wonderful tradition, and we're bringing it back," Trump said of the fitness test that began in 1966 but was phased out during the Obama administration. An executive order he signed Thursday also reinvigorates a national sports council that the president stocked with former and current athletes and other figures from the sports world. Several prominent athletes joined Trump and top administration officials, including allies such as friend and pro golfer Bryson DeChambeau; and others who've attracted controversy such as former New York Giants linebacker Lawrence Taylor, a registered sex offender. It's the latest athletics-related push from Trump, an avid golfer who remains enthralled with the world of sports. He played baseball in high school and plays golf almost every weekend. Much of the domestic travel he has done this year that is not related to weekend golf games at his clubs in Florida, New Jersey and Virginia was built around attending sporting events, including the Super Bowl, Daytona 500 and UFC matches. "I was always a person that loved playing sports. I was good at sports," Trump said. "When you are really focused on sports, you've thought about nothing else. To an extent, this is one of the reasons I like golf. You get away for a couple of hours." The announcement also came as Trump readies the United States to host the 2025 Ryder Cup, 2026 FIFA World Cup games and the 2028 Summer Olympics. He also signed a different executive order earlier this month mandating that federal authorities clarify whether college athletes can be considered employees of the schools they play for. Trump on Thursday said the council, known formally as the President's Council on Sports, Fitness, and Nutrition, will also deal with various issues on college athletics, such as the transfer portal that has more easily allowed athletes to switch from school to school. The council, which will have up to 30 members, will also develop criteria for a Presidential Fitness Award. The fitness test will be administered by his health secretary, Robert F. Kennedy Jr. In the test, children had to run and perform situps, pullups or pushups and a sit-and-reach test, but the program changed in 2012. It evolved into the Youth Fitness Program, which the government said "moved away from recognizing athletic performance to providing a barometer on student's health." Then-first lady Michelle Obama also promoted her "Let's Move" initiative focused on reducing childhood obesity through diet and exercise. The Youth Fitness Test, according to a Health and Human Services Department website last updated in 2023 but still online Thursday, "minimizes comparisons between children and instead supports students as they pursue personal fitness goals for lifelong health." Among those who joined Trump on Thursday, in addition to DeChambeau and Taylor, were Kansas City Chiefs kicker Harrison Butker; Swedish golfer Annika Sorenstam; and WWE chief content officer Paul "Triple H" Levesque, the son-in-law of Trump's education secretary, Linda McMahon. Taylor, who has appeared on stage with Trump at campaign rallies, pleaded guilty in New York in 2011 to misdemeanor criminal charges of sexual misconduct. He was sentenced to six years of probation and ordered to register as a sex offender. He was arrested in 2021 in Broward County, Florida, and charged with failing to report a change of residence as a sex offender. He later pleaded no contest to an amended charge, was ordered to pay $261 in court fees, and the case was closed, court records show. "I'm just proud to be on this team," Taylor said as he briefly took the microphone at the signing. "I don't know why, I don't know what we're supposed to be doing, but I'm here to serve. And I'm here to serve you." The NFL distanced itself from comments Butker made last year during a commencement address at a Kansas college, when he said most of the women receiving degrees were probably more excited about getting married and having children than entering the workforce and that some Catholic leaders were "pushing dangerous gender ideologies onto the youth of America." Butker also assailed Pride Month and railed against Democratic President Joe Biden's stance on abortion. Butker later formed a political action committee designed to encourage Christians to vote for what the PAC describes as "traditional values." Sorenstam faced backlash for accepting the Presidential Medal of Freedom from Trump on January 7, 2021, the day after rioters spurred by Trump's false claims about his election loss to Biden stormed the Capitol in Washington. Other well-known figures in athletics are on the council but did not attend the event Thursday. They include retired golfers Jack Nicklaus and Gary Player, former Dallas Cowboys quarterback Tony Romo, Philadelphia Eagles running back Saquon Barkley, hockey legend Wayne Gretzky and Roger Goodell, commissioner of the National Football League. The return of the exam brought mixed reactions from some who study exercise. Trump is putting a welcome focus on physical activity, but a test alone won't make America's children healthier, said Laura Richardson, a kinesiology professor at the University of Michigan. The exam is only a starting point that should be paired with lessons to help all students improve, she said. "It's not just, you get a score and you're doomed," said Richardson, whose teaching focuses on obesity. "But you get a score, and we can figure out a program that really helps the improvement." (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
