Latest Developments

Asia
The Hindu BusinessLine

Aarogya Setu 2.0 to drug registry: Govt to launch various digital healthcare initiatives on June 29

The revamped Aarogya Setu 2.0 app is built on the Covid experience and provides a gateway to multiple digital health services through a single platform, Health Ministry said. | Photo Credit: SOMASHEKARA GRN A series of digital initiatives in the health sector, including the Aarogya Setu 2.0 - a personal health record application (PHR) for citizens- will be unveiled on Monday, June 29, by Union Minister for Health and Family Welfare; and Chemicals & Fertilizers, JP Nadda. The initiatives being launched include “citizen-facing applications, provider-focused solutions, interoperability frameworks, registries and data standards,” according to the Health Ministry. And they are expected to “enhance accessibility, efficiency and interoperability across the healthcare ecosystem while benefiting citizens, healthcare providers, insurers, technology innovators and policymakers alike,” it added. The revamped Aarogya Setu 2.0 app is built on the Covid experience and provides a gateway to multiple digital health services through a single platform, the Ministry said. “The application enables creation and management of ABHA (Ayushman Bharat Health Account), access to and sharing of digital health records, consent-based health information exchange, AI-powered health insights and smart health reports, wearable device integration, OPD registration through Scan & Register, hospital payments through Scan & Pay, medication reminders and family health management,” it said. Furthermore, it said, the app would help locate nearby healthcare facilities and doctors, ambulance services, blood banks with blood unit availability, and Jan Aushadhi Kendras. In addition to this, the application provides access to PM-JAY services, including search for PM-JAY empanelled hospitals, access to AB PM-JAY wallet etc, along with access to other healthcare services, the note added. The enhanced Ayushman app will also serve as a one-stop digital platform for beneficiaries of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) health insurance scheme. “The upgraded application will enable beneficiaries to access essential scheme-related services, including eligibility verification, Ayushman Card services, treatment history, hospital discovery, grievance redressal and beneficiary support,” it said. Also being launched is Ayushman Sarathi, a WhatsApp chatbot for beneficiaries of Ayushman Bharat PM-JAY, to deliver PM-JAY services through a conversational interface. The Ministry also pointed to the National Health Claims Exchange (NHCX), a digital public infrastructure for health claims processing, that would enable standardised exchange of health claims information between providers and payers across public and private health insurance programmes - reducing administrative burden and facilitating faster and more efficient claims processing, it said. A Unified Health Interface (UHI) is also being dedicated to the nation, the note said. It enables digital applications to connect citizens with healthcare service providers through a common framework, facilitating easier discovery and access to healthcare services. The e-Sushrut Clinic will be unveiled “as a plug-and-play clinic management solution that enables healthcare providers to digitise clinical workflows, maintain electronic health records and seamlessly integrate with the Ayushman Bharat Digital Mission ecosystem,” it said. A “Drug Registry” will also be launched to standardise medicine-related information across the healthcare ecosystem, it said. “By enabling uniform coding of medicines across digital health applications, the registry will strengthen prescribing, dispensing and healthcare data exchange,” it said.

Aarogya Setu 2.0 to drug registry: Govt to launch various digital healthcare initiatives on June 29
Asia
The Hindu BusinessLine

Ashok Vaswani to step down as Kotak Mahindra’s chief after current term in December 2026

Ashok Vaswani has informed Kotak Mahindra Bank’s board that he does not wish to seek re-appointment as Managing Director & CEO upon completion of his current term on December 31, 2026. Ashok Vaswani has informed Kotak Mahindra Bank’s board that he does not wish to seek re-appointment as Managing Director & CEO upon completion of his current term on December 31, 2026. “The Board has, at its meeting held today, respected his decision and has initiated the process for the appointment of a new Managing Director & CEO. The process will be completed within applicable regulatory timelines,” the private sector bank said in a regulatory filing. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Ashok Vaswani to step down as Kotak Mahindra’s chief after current term in December 2026
Asia
The Hindu BusinessLine

Nifty and Nifty Bank Prediction for the week 29 Jun’26 to 03 Jul’26 by BL GURU

Nifty is holding well above its support. The nifty bank index is stuck inside a range. Both are in line with our expectation. Overall, the bias remains positive. We expect the Nifty to break its resistance and go higher. The Nifty Bank index can also make a bullish breakout of its range and rise in the coming weeks. Nifty can rise to 24,750-24,850 on a break above 24,250. Support is around 23,800 The Nifty bank index can make a bullish breakout of its 56,500-58,800 range and rise to 60,500-61,500. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Nifty and Nifty Bank Prediction for the week 29 Jun’26 to 03 Jul’26 by BL GURU
North America
Yahoo Finance

Fed's Kevin Warsh may take 'little bit of time' to decide rate direction

US markets (^DJI, ^IXIC, ^GSPC) soared in Monday trading, led by the Nasdaq Composite's gain of over 3% — 795 points — after President Trump announced that the US and Iran have reached a peace deal. This comes ahead of the Federal Reserve's June FOMC meeting this week. Baird managing director and market strategist Michael Antonelli discusses the intricacies of the economic environment that may push the US central bank to move interest rates. Fed officials will be meeting from Tuesday, June 16, to Wednesday, June 17, concluding with a decision on rates and a press conference with new Chairman Kevin Warsh.

Fed's Kevin Warsh may take 'little bit of time' to decide rate direction
Asia
The Economic Times

Goldman Sachs’ India bets: 8 stocks rally up to 85% in CY26; one new addition

Goldman Sachs’ Indian equity portfolio, held through its global funds, declined 6% in CY26, falling from Rs 9,014 crore in December 2025 to Rs 8,470 crore as of June 25, 2026. As of the March 2025 quarter, the portfolio comprised about 46 stocks, of which around 26 were negative performers. So far in CY26, 18 stocks have declined between 10% and 44%, with the top six laggards falling 25–44%.However, despite the overall decline, eight stocks bucked the trend, delivering gains of 20–85% over the same period. We also highlighted one newly added stock in the March 2025 quarter. (Data Source: ACE Equity, Trendlyne) In CY26 so far, the stock has rallied 84%, rising from Rs 308 to Rs 566. Goldman Sachs India holds about a 1.90% stake, currently valued at approximately Rs 122 crore. In CY26 so far, the stock has rallied 79%, rising from Rs 702 to Rs 1,255. Goldman Sachs India holds about a 2.40% stake, currently valued at approximately Rs 470 crore. In CY26 so far, the stock has rallied 65%, rising from Rs 1,134 to Rs 1,873. Goldman Sachs India holds about a 2.16% stake, currently valued at approximately Rs 367 crore. In CY26 so far, the stock has gained 34%, rising from Rs 908 to Rs 1,221. Goldman Sachs India holds about a 1.41% stake, currently valued at approximately Rs 365 crore. In CY26 so far, the stock has gained 29%, rising from Rs 1,611 to Rs 2,071. Goldman Sachs India holds about a 2.12% stake, currently valued at approximately Rs 203 crore. In CY26 so far, the stock has gained 29%, rising from Rs 5,920 to Rs 7,609. Goldman Sachs India holds about a 1.06% stake, currently valued at approximately Rs 412 crore. In CY26 so far, the stock has gained 26%, rising from Rs 1,700 to Rs 2,141. Goldman Sachs India holds about a 3.97% stake, currently valued at approximately Rs 272 crore. In CY26 so far, the stock has gained 20%, rising from Rs 6,387 to Rs 7,659. Goldman Sachs India holds about a 1.37% stake, currently valued at approximately Rs 368 crore. In CY26 so far, the stock has declined 24%, falling from Rs 778 to Rs 595. Goldman Sachs India holds about a 2.70% stake, currently valued at approximately Rs 199 crore. In CY26 so far, the stock has declined 25%, falling from Rs 1,721 to Rs 1,290. Goldman Sachs India holds about a 2.86% stake, currently valued at approximately Rs 134 crore. In CY26 so far, the stock has declined 26%, falling from Rs 619 to Rs 458. Goldman Sachs India holds about a 1.76% stake, currently valued at approximately Rs 156 crore.

Goldman Sachs’ India bets: 8 stocks rally up to 85% in CY26; one new addition
Asia-Pacific
The Straits Times

Markets rally with US-Iran deal; SpaceX ends first week 14% up

Markets were abuzz following the listing of Elon Musk’s SpaceX on June 12 on the Nadaq. SINGAPORE – Markets cheered the first notable steps towards a peace deal in the war between the United States and Iran, as both sides signed an agreement on June 18 that could herald the reopening of the Strait of Hormuz. The Straits Times Index (STI) hit a 52-week high on June 18 to close at 5,212.84, having rallied strongly from 4,988 a week earlier. However, it moderated slightly to close at 5,192.7 on June 19, after rising over 3 per cent during the week. The US and Iran announced on June 14 that a framework for a peace deal had been put in place, including the reopening of the Hormuz, a major shipping channel for global oil and gas flows. The effective closure of the Hormuz over the past few months has caused an energy crisis with skyrocketing oil prices past US$100 a barrel, and resulted in global inflationary pressures. On June 18, the US released the 14-point agreement that President Donald Trump signed with Iran’s president, Masoud Pezeshkian, that would also allow ships to pass through the strait toll-free for 60 days. Oil prices responded by falling below US$80 per barrel of Brent crude for the first time in three months. Syfe head of investment and advisory Ritesh Ganeriwal said: “The US-Iran peace deal sent oil back to early March levels and triggered a jump in equities, with Asia rallying led by oil-dependent Korea, Japan and India.” Japan’s Nikkei index was up nearly 8 per cent over the week to hit a high of 71,250 on June 19, while South Korea’s Kospi index jumped by 5 per cent. However, Hong Kong’s Hang Seng Index was the outlier, falling 3 per cent over the week. Phillip Securities research manager Glenn Thum said oil prices will still be closely watched, as a sustained pullback would ease pressure on inflation expectations and give investors more confidence around the path of interest rates. “In Singapore, that would be more helpful for companies exposed to fuel and financing costs, although the market will still need to see whether the de-escalation holds,” he said.

Markets rally with US-Iran deal; SpaceX ends first week 14% up
Europe
BBC Business

O'Leary extends Ryanair contract in deal that could net him over £130m

Ryanair boss Michael O'Leary has extended his contract to 2032, in a deal featuring a bonus scheme that could earn him more than €150m (£130m). Since becoming chief executive in 1994, Ryanair has grown from a relatively small regional airline into Europe's largest low-cost carrier. If O'Leary remains at the Ryanair group until April 2032, he would be granted the option of buying 10 million shares at €26.70 per share if annual profit reached €4 billion or if the share price exceeds €42 for 28 successive days. "Achievement of these very ambitious targets would create substantial additional value for all Ryanair shareholders," Ryanair said in a statement. Ryanair group chairman Stan McCarthy said that in spring, the company's board had "commenced discussions" with O'Leary on his contract. "I am pleased to report that this process, which included extensive engagement with Ryanair's largest shareholders, has successfully concluded with Michael agreeing to extend his leadership of the Ryanair Group for the next six years to April 2032, for the benefit of all shareholders," he added. Last year, it was reported that O'Leary was on track to pocket bonuses worth more than €100m. This was after shares in the budget airline closed above €21 (£17.65) for a 28th consecutive day in May 2025, meeting a key performance target.

O'Leary extends Ryanair contract in deal that could net him over £130m
North America
CNBC Finance

Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market

After growing to become one of the largest used car retailers in the U.S., Carvana is expanding into the new vehicle market. The company has quietly purchased seven new vehicle franchises since last year that primarily sell Stellantis' Chrysler, Dodge, Jeep and Ram brands, including a location in Arizona that has become the automaker's largest volume store in the U.S. Dealers and industry experts said they believe the move could significantly disrupt, if not reshape, the century-old new vehicle franchised dealer system. "Carvana entering the new vehicle franchise business may be one of the most disruptive forces that auto retailing has seen in the U.S. market in decades," John Murphy, a longtime Wall Street analyst and automotive consultant, told CNBC. The U.S. franchised dealership system — which includes 16,990 retailers that topped $1.3 trillion in sales last year, according to the National Automobile Dealers Association — has historically been reluctant to change. However, dealers have grown more adaptable in recent years as a means of survival, including during the pandemic and with the rise of publicly traded dealership groups. Carvana's first new car dealership for Stellantis in Casa Grande, Arizona, has grown quickly. It sold more than 700 new vehicles last month, according to Stellantis figures shared with dealers and provided to CNBC. That made it the bestselling store nationally and compares with an average of roughly 30 to 50 monthly sales the store was doing before Carvana purchasing it early last year, as first reported by The Wall Street Journal. Carvana and its CEO, Ernie Garcia, have declined to comment about the franchised stores or details of the businesses ahead of a media event this week at which the retailer is expected to disclose its plans. Carvana's locations, many of which feature its signature large car vending machines, have historically acted as delivery and drop-off points where customers can pick up vehicles they purchased online or turn in a vehicle they sell to the company. And up until last year, those vehicles had been used cars, trucks and SUVs that were largely bought from auctions and individual consumers. Adding the new vehicle business not only provides additional revenue for the company, it opens up other avenues for Carvana to more easily purchase used vehicles from their new vehicle customers and through exclusive auctions only open to franchised dealers. "That is a significant game changer in the secondary market," Murphy said regarding the private auctions. "If that expands to other brands, that is going to be an advantage." It also helps Carvana better capitalize on the complete lifecycle of a vehicle. The dealership model is comprised of four main areas of growth: new, used, parts and service, and finance and insurance.

Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
Europe
The Guardian

‘It’s a scam’: Americans express unease over SpaceX’s influence on retirement savings

SpaceX executives and others pose on a balcony at the Nasdaq MarketSite after the closing bell on the day of SpaceX's initial public offering in New York City on 12 June 2026. Photograph: Brendan McDermid/ReutersView image in fullscreenSpaceX executives and others pose on a balcony at the Nasdaq MarketSite after the closing bell on the day of SpaceX's initial public offering in New York City on 12 June 2026. Photograph: Brendan McDermid/ReutersSpaceX‘It’s a scam’: Americans express unease over SpaceX’s influence on retirement savingsGuardian readers in the US share concerns about how the SpaceX IPO and AI boom affect their retirement accounts Elon Musk became the world’s first trillionaire last week after SpaceX debuted on the stock market with a valuation of $1.77tn. Millions of Americans could soon become indirect investors in SpaceX and other emerging AI-focused companies as US markets increasingly shift toward AI-driven investments. Many Americans’ retirement savings are heavily tied to the US stock market through private 401(k) retirement savings plans. Those plans are heavily invested in index funds that track the major stock market indices. So even those who do not invest directly in these new tech giants may still end up owning them. Musk pushed for a rule change to allow SpaceX shares into index funds earlier than is typical, many Americans could find their retirement savings and pensions increasingly tied to the company and other AI firms. “We’ve all been forced into a giant casino,” said Tim, a 62-year-old engineer based in Alameda, California. The Guardian asked people in the US their views on the SpaceX initial public offering (IPO) and how it might affect them. More than 150 responded, overwhelmingly to express concern about having their savings tied to major technology firms, citing fears over widening inequality, market instability, and the long-term sustainability of the AI boom. For Tim, a 62-year-old engineer based in Alameda, California, investing in SpaceX is less a choice than a necessity. “I’ve never wanted to participate in the so-called AI bubble,” Tim continued. “Basically my entire retirement is in the S&P 500. Not out of choice, but if you don’t have investments in the stock market, you’re losing ground compared to everybody who does. That’s the pernicious thing about it. There’s really no way for the average person to diversify.” Stephen, a 33-year-old engineer from Michigan, shares his unease and describes his disgust over the growing influence of tech companies over retirement savings. “I think that the amount is absolutely ridiculous and untethered to the company’s actual value,” he said. “I think it’s abhorrent that my savings and retirement funds are tied so intricately to these tech companies, especially when they cannot be held accountable by investors.” Similar concerns were raised by Matt Reynolds, a 57-year-old professor based in eastern Washington, who worries both about his financial future and the influence of tech moguls.

‘It’s a scam’: Americans express unease over SpaceX’s influence on retirement savings