Euronext launches European Common Prospectus to boost IPO market in EU
The Dutch-based parent company of pan-European exchange group hopes that standardised prospectus will help ease access to European capital markets, as it sees "clear and immediate need to boost IPO activity in Europe and to compete on a global level".
"Europe cannot afford to wait. Action is required at the level of European policy-makers and regulators ... As global markets evolve rapidly, Europe must ensure its companies have efficient tools to access capital," said Euronext's CEO and Chairman Stéphane Boujnah.
The initiative accompanies wider plans to reduce regulatory fragmentation across European bourses, as European Commission officials consider a new set of listing rules under the Listing Act, to bring closer the capital market union that would improve access to market-based sources of financing.
The full implementation of the act is expected to occur from June 2026.
Euronext said that the new prospectus is available for immediate use in all countries with Euronext exchanges.
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Khaleej Times
22 minutes ago
- Khaleej Times
Trump sets 19% tariff on Indonesia goods in latest deal, EU readies retaliation
President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were coming, while offering fresh details on planned duties on pharmaceuticals. Trump announced the pact with Indonesia, a relatively minor U.S. trading partner, as he continued to press for what he views as better terms with trading partners and ways to shrink a huge U.S. trade deficit. Letters setting tariff rates for dozens of smaller countries were also coming soon, he said on Tuesday. The deal with Indonesia is among the handful struck so far by the Trump administration ahead of an August 1 deadline when duties on most U.S. imports are due to rise again. The accord came as the top U.S. trading partner - the European Union - readied retaliatory measures should talks with Washington fail. As that deadline approached, negotiations were under way with other nations eager to avoid more U.S. levies beyond a baseline 10% on most goods that has been in place since April. Trump's roll-out of the policies has often been chaotic. His moves have upended decades of negotiated reductions in global trade barriers, unsettling international financial markets and threatening a new wave of inflation. Based on Trump tariff announcements through Sunday, Yale Budget Lab estimated the U.S. effective average tariff rates will rise to 20.6% from between 2% and 3% before Trump's return to the White House in January. Consumption shifts would bring the rate down to 19.7%, but it's still the highest since 1933. Trump outlined an Indonesia deal similar to a preliminary pact struck recently with Vietnam, with a flat tariff on exports to the U.S. roughly double the current 10% and no levies on U.S. exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia and a commitment to buy some U.S. goods. "They are going to pay 19% and we are going to pay nothing ... we will have full access into Indonesia, and we have a couple of those deals that are going to be announced," Trump said outside the Oval Office. Trump later said on his Truth Social platform that Indonesia had agreed to buy $15 billion of U.S. energy products, $4.5 billion of American farm products and 50 Boeing jets, though no time frame was specified. He told reporters the deal with Vietnam was "pretty well set" but said it was not necessary to release details. India talks Indonesia's total trade with the U.S. - totalling just under $40 billion in 2024 - does not rank in the top 15, but it has been growing. U.S. exports to Indonesia rose 3.7% last year, while imports from there were up 4.8%, leaving the U.S. with a goods trade deficit of nearly $18 billion. The top U.S. import categories from Indonesia, according to U.S. Census Bureau data from the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between U.S. and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the country with a 32% tariff rate starting August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, laying out tariff rates ranging from 20% to 50%, plus a 50% tariff on copper. Speaking in Pittsburgh on Tuesday, Trump said he favored blanket tariffs over complicated negotiations, but his Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were keen to land more trade agreements. Upon his arrival back in Washington, Trump told reporters that letters would be going out soon for many smaller countries, suggesting they would face a tariff of "a little over 10%." He said his administration would also announce tariffs on pharmaceuticals imported into the United States, probably at the end of the month, starting with what he called a low tariff rate to give companies time to move manufacturing to the U.S. before imposing a "very high tariff" in a year or so. The August 1 deadline gives targeted countries time to negotiate about lower tariff rates. Some economists have also noted Trump's pattern of backing off his tariff threats. Since launching his tariff policy, Trump has clinched only a few "framework" agreements, falling short of earlier promises to land "90 deals in 90 days." So far, such deals have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between Washington and Beijing. Trump said talks with India were moving "along that same line," saying the agreement would give U.S. firms access to the large Indian market. EU readies retaliation The breakthrough with Indonesia came as the European Commission, which oversees trade for the EU, prepared to target 72 billion euros ($84.1 billion) worth of U.S. goods - from Boeing aircraft and bourbon whiskey to cars - for possible tariffs if trade talks with Washington fail. Trump has threatened a 30% tariff on imports from the EU from August 1, a level European officials say is unacceptable and would end normal trade between two of the world's largest markets. The list, sent to EU member states and seen by Reuters on Tuesday, pre-dated Trump's move over the weekend to ramp up pressure on the 27-nation bloc and responded instead to U.S. duties on cars and car parts and a 10% baseline tariff. The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products - a range of fruits and vegetables, along with wine, beer and spirits - valued at 6.35 billion euros.
Zawya
22 minutes ago
- Zawya
Tech Mahindra reports EBIT of ₹1,477Cr, up 34% YoY; YoY margins expand by 260 bps
RELATED TOPICS EARNINGS RELATED COMPANIES Tech Mahindra Cisco Systems Everest Group Mahindra Group CYBERLYNX Information Serv Cratedb Quadrant Knwldg Salesforce ServiceNow Co-Create Soft SAP SE Via Mobility Ser Noida – Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries announced the audited consolidated financial results for the quarter ended June 30, 2025. Financial highlights for the quarter (USD) Revenue at USD 1,564 mn; up 0.4% YoY EBIT at USD 172 mn; up 30.2% YoY EBIT Margin 11.1%; up 260 bps YoY Profit after tax (PAT) at USD 133 mn; up 30.2% YoY PAT Margin 8.5%; up 190 bps YoY Free cash flow at USD 86 mn New deal wins TCV USD 809 mn Financial highlights for the quarter (₹) Revenue at ₹ 13,351 crores; up 2.7% YoY EBIT at ₹ 1,477 crores; up 34.0% YoY Consolidated PAT at ₹ 1,141 crores; up 34.0% YoY Diluted Earnings per share (EPS) at ₹ 12.86 Other Highlights Total headcount at 148,517; up 897 YoY LTM IT attrition at 12.6% Days of Sales Outstanding 95 days; up 2 days YoY Cash and Cash Equivalent at the end of the quarter ₹ 8,072 crores Mohit Joshi, CEO and Managing Director, Tech Mahindra, said, ' Our performance is steadily strengthening, reflecting disciplined execution and a focused strategy. Deal wins have increased by 44% on a last twelve months (LTM) basis, supported by broad-based momentum across verticals and geographies.' Rohit Anand, Chief Financial Officer, Tech Mahindra, said, ' We have delivered seven consecutive quarters of margin expansion - a clear reflection of the discipline and focus across our organization. Even in an uncertain environment, our Project Fortius program continues to generate meaningful results and drive operational improvements. ' Key Deal Wins Selected as a key 'growth partner' by one of US-based leading consumer wireless operators for its Customer Operations transformation. The designation as a 'growth partner' unlocks the door to all future opportunities as per the client's new sourcing strategy. Tech Mahindra was selected by a Railroad company in the Americas region for the support and development of a portfolio of applications across multiple corporate functions of the company and across multiple technologies including SAP, Salesforce, and data analytics, amongst others. Tech Mahindra was selected by a leading US-based Hi-Tech company to help them deliver to their end customers a truly immersive and enriched user experience on one of their flagship consumers focused product which is powered by their AI and LLM platform. TechM will ensure that the consumer product with 2.0 billion+ active users have enriched user experience including keeping the platform safe. Tech Mahindra was chosen as strategic partner by UK-based manufacturer to drive digital transformation by establishing a Shared Services Center. TechM will deliver end-to-end IT, digital solutions, and BPS services focused on transforming the customer's enterprise back office - enhancing experience, efficiency, agility, and resilience - delivering superior business outcomes. Tech Mahindra was selected by a leading global fashion apparel brand for a multi-year strategic engagement to provide digital and data transformation and support services. The scope includes SAP, Cloud, Data & AI, and Digital Commerce platforms, with a dedicated Global Capability Center or GCC to drive innovation, cost efficiency, and business agility. Tech Mahindra was selected by a leading global insurance and asset management company's Japanese subsidiary to consolidate, modernise, and digitise its IT systems and operations, enabling the client to adopt cloud-native applications, revamp their enterprise architecture, accelerate AI adoption, and bring innovative products to market more quickly. Tech Mahindra was selected as a Prime partner with a leading UK based Telco for a multi-service line deal to deliver and manage applications across its fixed and mobile networks. The scope includes delivering services across ADMS, Network Services, Next-Gen Services, Engineering Services and Digital Enterprise Applications. Tech Mahindra was selected by a leading international telecom company in the MEA region for a transformation and managed services deal to manage, centralise, and transform its various IT functions. Customer will benefit by reducing its TCO due to transformed ways of working, increased automation and AI. Business Highlights Tech Mahindra announced the launch of a new managed services offering for Cisco Multicloud Defense, a component of Cisco's Hybrid Mesh Firewall. The new offering provides enterprises a robust cloud security solution that enables secure, scalable, and seamless operations across multi-cloud environments. The new collaboration delivers multidirectional protection across any public or private cloud - blocking inbound attacks, lateral movement, and data exfiltration using a single SaaS control plane, eliminating inefficient, complex, and costly point solutions. Tech Mahindra was named a Red Hat Premier Partner globally. As a Red Hat Premier Partner, TechM gains access to technical resources, joint go-to-market opportunities, and extended collaboration with Red Hat's product and services teams. In collaboration with Red Hat, TechM has engineered over 15 solutions as part of its GTM strategy, spanning automation, edge intelligence, and AI-driven cloud-native capabilities powered by Red Hat OpenShift, Red Hat Ansible Automation Platform, and other platforms. Tech Mahindra announced a partnership with ServiceNow to deliver next-generation broadband solutions tailored for Communication Service Providers (CSPs). The partnership offers comprehensive vertical solutions stack that includes planning and building networks, managing operations, enhancing customer experience, and monetising services, by leveraging TechM's platform - a pre-integrated end-to-end solution built on ServiceNow® TMT product suites. The solution also provides AI-driven analytics, Network-as-a-Service (NaaS), Cloud-native Open-Source Software (OSS) systems and intelligent automation to streamline operations and capitalise on the fast-growing 'Everything-as-a-Service' opportunity. Through the solution, CSPs will be able to improve operational efficiencies by up to 50%, ensuring accelerated time-to-market and scalable broadband rollouts. Tech Mahindra and CrateDB, a data management company, announced a strategic partnership at Hannover Messe 2025, the world's premier trade fair for industrial technology to revolutionise the automotive, manufacturing, and smart factory sectors by delivering advanced agentic AI solutions that leverage real-time data analytics, enabling businesses to drive innovation and efficiency at scale. The partnership will unlock the full value of data for industrial customers by leveraging CrateDB's open-source, multi-model, distributed database, while TechM will provide advanced capabilities to optimise supply chains, improve predictive maintenance models, and ensure higher quality control standards across operation centres. Tech Mahindra announced a partnership with Nuix (AXS: NXL), a global leader in AI-powered investigative analytics and intelligence software to provide innovative, scalable solutions for cyber and fraud detection. The partnership will leverage TechM's extensive expertise in AI, Digital Engineering, and Cyber Risk Management to integrate Nuix's advanced investigative and data analytics solutions into its services, unlocking significant global sales opportunities with the Nuix Neo Solutions by assisting customers in managing data breaches, preventing fraud, and protecting Personally Identifiable Information (PII) in industries with stringent regulatory and compliance requirements, including in BFSI, telecommunications, and public sector companies. Tech Mahindra and KOGO AI, a category-defining provider of Agentic AI infrastructure, announced a strategic collaboration to jointly build and deliver next-gen enterprise AI solutions and agents — designed for autonomy, scale, and compliance. Unlike traditional partnerships, this alliance is rooted in co-innovation focused on building intelligent AI agents for host of cross enterprise use-cases, designing Private AI architectures that run on-prem, hybrid, or secure cloud environments, integrating with legacy systems to drive transformation without overhauling infrastructure and driving outcomes in various industries through domain-specific AI deployments. Awards and Recognitions Awarded the 'TM Forum Upskilling Award' at DTW Ignite 2025 (DTW), reaffirming TechM's continued leadership in building a future-ready workforce that empowers Communication Service Providers (CSPs) to navigate and lead in an increasingly autonomous and platform-driven telecom landscape. Recognised as one of the 'Best Organisations to Work' for 2025 at ET NOW Best Organisations to Work 2025. Recognised as one of the 'Most Innovative Organisations' of 2025 at ET NOW Most Innovative Organisations 2025. Recognised as one of the 'Most Sustainable Organisations' of 2025 at ET Edge 4th edition of Sustainable Organisations 2025. Recognised amongst the 'Champions of Green Business Practices' by ET Edge at Times Now Global Sustainability Alliance - Sustainable Organisations 2025. Included in Sustainalytics 2025 ESG Top-Rated Companies list and recognised as both 'Region Top Rated' and 'Industry Top Rated' for outstanding performance in sustainability practices. Recognised as a constituent of the FTSE4Good Index Series for the 9th consecutive year. The only Indian IT company to receive the highest "A" rating across all three CDP categories: Climate Change, Water Security, and Supplier Engagement. Analyst Ratings & Recognitions Recognised with the ISG Star of Excellence™ – 2024 award for the APAC region. The recognition from ISG (Information Services Group), highlights TechM's exceptional customer experience (CX) performance by attaining the highest regional customer experience rating in APAC. Leader - Aerospace and Defense Services and Solutions 2025-Engineering, Design, and Innovation - Overall Ecosystem – Europe and US by ISG Leader - Aerospace and Defense Services and Solutions 2025-Maintenance, Repairs and Overhaul (MRO) and Aftermarket - Overall Ecosystem - Europe and US by ISG Leader - Google Cloud Partner Ecosystem 2025 - GenAI and AI Services – US by ISG Leader - Google Cloud Partner Ecosystem 2025 - Professional Services - (Consulting and Migration) - US and APAC by ISG Leader - Google Cloud Partner Ecosystem 2025 - Managed Services- US and APAC by ISG Leader - Google Cloud Partner Ecosystem 2025 - Enterprise Data Infrastructure Services - US by ISG Leader - Private/Hybrid Cloud - Data Center Services 2025 - Managed Services — Midmarket- Nordics by ISG Leader - Cybersecurity Services and Solutions 2025 - Technical Security Services – Australia by ISG Leader - Cybersecurity Services and Solutions 2025 - Next-Gen SOC/MDR Services (Midmarket) – UK by ISG Leader - Automotive and Mobility Services and Solutions 2025 - Automotive Engineering and Manufacturing Services – North America, Europe, and APAC by ISG Leader - Automotive and Mobility Services and Solutions 2025 - Electric Vehicles and Mobility Services- North America, Europe, and APAC by ISG Leader - Automotive and Mobility Services and Solutions 2025 - Autonomous Systems and Software-defined Vehicles - North America, Europe, and APAC by ISG Leader - Automotive and Mobility Services-and Solutions 2025 - Automotive Retail and Aftermarket Services – North America, Europe and APAC by ISG Leader - Automotive and Mobility Services and Solutions 2025 - Technology Transformation and Consulting- North America and APAC by ISG Leader - Network - Software-Defined Solutions and Services 2025 SD-Networks Transformation Services (Consulting and Implementation) – US and Germany by ISG Leader - Network - Software-Defined Solutions and Services 2025 - Edge Technologies and Services (Including Private 5G) – Germany by ISG Leader - Life Sciences Digital Services 2025 - Clinical Development (Service Providers) - Global by ISG Leader - Life Sciences Digital Services 2025 - Commercial Operations - Digital Evolution (Service Providers) - Global by ISG Leader - Supply Chain Transformation Services for Retail and CPG PEAK Matrix® Assessment 2025 by Everest Group Leader - Retail Services PEAK Matrix® Assessment 2025 by Everest Group Leader - SPARK Matrix™: Procurement Services, 2025 by Quadrant Knowledge Solutions Consolidated Financial Statement for the quarter ended June 30, 2025 drawn under Ind AS About Tech Mahindra Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 148,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative's Terra Carta Seal, which recognizes global companies that are actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit For Further Queries: Disclaimer Certain statements in this release concerning the future prospects of Tech Mahindra Limited ('the Company' or 'TechM') are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company's actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
Zawya
22 minutes ago
- Zawya
India's June gold imports fall to two-year low as record price dents demand
India's gold imports in June fell 40% from a year ago to their lowest level in more than two years, as a price rally to a record high sapped demand, a government and two industry officials told Reuters. Imports to India, the world's second-largest gold consumer, fell to 21 tons, the lowest since April 2023, said a government official, who declined to be named as he was not authorised to talk to the media. In value terms, gold imports fell to $1.84 billion in June from $2.48 billion a year ago, the official said. In the past decade, on average, India imported 52.4 tons of gold in June. In the first half of 2025, India's gold imports fell 30% from a year ago to 204.1 tons, the lowest since the first half of 2020, when the COVID-19 outbreak led to lockdown, the trade ministry data showed. The rapid surge in prices has been discouraging retail buyers from making jewellery purchases, said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji. Domestic prices hit an all-time high of 101,078 rupees per 10 grams in June. Gold prices have risen 27% so far this year after rising 21% in 2024. Gold imports would remain subdued even in July, as demand is still tepid because of higher prices, Jain said. Silver imports in June nearly doubled from a year ago to 197 tons, but were significantly lower than the 544 tons imported in May, the government official said. In recent months, Indian investors, traditionally obsessed with stockpiling gold, are increasingly turning to silver , as its returns this year outpaced those of gold. (Reporting by Rajendra Jadhav Editing by Ros Russell)
