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Asia
The Hindu BusinessLine

M Angamuthu appointed Chairperson of Cochin Port Authority

M. Angamuthu has assumed additional charge as Chairperson of the Cochin Port Authority (CoPA) on Monday. A 2002-batch officer of the Assam-Meghalaya cadre, Angamuthu is currently serving as Chairperson of the Mumbai Port Authority. He has previously served as Chairperson of the Visakhapatnam Port Authority and has also headed the Agricultural and Processed Food Products Export Development Authority (APEDA). Since 2023, he has been serving as the Chairperson of Dredging Corporation of India Ltd. Angamuthu has extensive experience in project implementation, urban infrastructure development, public policy management, transport and logistics, trade and commerce, and e-governance. During his career, he has served as Commissioner and Secretary to the Government of Assam and as Collector, Deputy Commissioner and District Magistrate in several districts of Assam. He has also held positions such as Commissioner of Guwahati Municipal Corporation, Vice-Chairman and CEO of the Guwahati Metropolitan Development Authority, CEO of Guwahati Smart City Project and Project Director of the Assam Urban Infrastructure Investment Programme. 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.

M Angamuthu appointed Chairperson of Cochin Port Authority
North America
CNBC Finance

How family offices are investing in the final frontier beyond SpaceX

The investment firms of billionaires including ex-eBay President Jeff Skoll and AutoZone's Pitt Hyde are set to reap rewards from SpaceX's IPO this Friday. However, while SpaceX's profile eclipses that of nearly every other private space company, family office investors told CNBC that they see other opportunities in the sector even for companies without Elon Musk's name attached. Moreover, they said they view space-related startups as opportunities to invest in infrastructure and defense rather than flashy bets on space exploration. Gary Lauder, a cosmetics heir turned venture capitalist, has invested in SpaceX through a special purpose vehicle and two venture funds. He told CNBC he was attracted to the strength of its Starlink satellite technology, not the prospect of space tourism. Much of Lauder's early investing was in telecommunications, and he took a seminar in satellite communications in the early '90s. "I never dreamed of being an astronaut," he said. "It's just an important mode of communication." Jason Blanck, an investor who started his namesake family office in 2024, said he is interested in the picks and shovels of space, like mission-critical hardware and data networks. "I think the public markets are focused heavily on debating rocket launch cadences, costs around flight development, but from my perspective and where I sit, managing permanent family capital, the real narrative has actually quite evolved," he said. Robin Lauber's Infinitas Capital invested in SpaceX in early 2025 through a secondary offering. He cited Musk's track record and the success of Starlink as reasons to put money in. Lauber also noted the valuation was "reasonable" compared with the more than $1.75 trillion expected now. He told CNBC that Infinitas would have sold some shares before the initial public offering had it found a willing buyer at the right discounted valuation. Lauber is open to selling locked-up shares at a discount to recover the initial cost of investment and seeing how the other shares fare. Looking forward, Lauber is weighing more investments in European space companies such as Isar Aerospace, a German launch service provider. He is also considering participating in a new fund by Alpine Space Ventures, which counts a SpaceX alum as a founding partner. Investing in space-related firms was unpopular not so long ago, according to Jon Kutler of Admiralty Partners. He spent 10 years in the U.S. Navy before becoming an investment banker specializing in aerospace and defense in the early 1980s. He left Wasserstein Perella & Co. in 1992 to start his own investment firm in order to focus more on the sector to the chagrin of his then-boss, Bruce Wasserstein. ""He told me I was an idiot because the Cold War was over and there was going to be no more spending in the defense industry," Kutler said. "People had extrapolated that to be the end of the defense industry, but if you look over the history of mankind, we're just not a very peaceful species. To me, it seemed ludicrous to declare an end to defense spending, and I was willing to bet against that with my own capital and my own time."

How family offices are investing in the final frontier beyond SpaceX
Asia
The Hindu BusinessLine

West Bengal Budget Live: 1 lakh vacancies in govt jobs to be filled, ₹36,000 cr for Annapurna scheme; ₹14,000 cr for GRAMG scheme; 20% DA hike and more

West Bengal Finance Minister Swapan Dasgupta presents the state's first full budget for FY 2026-27 in the assembly, in Kolkata on Monday. | Photo Credit: ANI West Bengal Budget 2026 Live Updates: Stay updated with the latest announcements from the West Bengal Budget 2026, live updates on infrastructure spending, employment measures, agriculture support, industrial policy and fiscal targets. Finance Minister Swapan Dasgupta said his government has inherited a debt burden of Rs 8.15 lakh crore from the previous administration, asserting that restoring fiscal discipline and public confidence in governance would be among his priorities. “Building a corruption-free administrative structure is a cornerstone of our vision. We have to restore people’s trust in governance,” he said. Dasgupta said DA for state government employees and DR for pensioners would be raised by 20 percentage points from October 1, taking it to 38 per cent. The move narrows the gap between the DA received by state government employees and their central government counterparts by 22 percentage points, a politically significant announcement as government employees had long agitated over the issue under the previous regime. Before presenting the budget, Dasgupta and Chief Minister Suvendu Adhikari participated in a brief prayer ceremony in the assembly premises. “We have prepared this budget drawing inspiration from awakened national strength,” Dasgupta said. He announced that 1 lakh vacancies, including 20,000 posts in the police and 50,000 teaching and non-teaching positions in schools, would be filled in phases. He said 33 per cent of the jobs would be reserved for women, while 10 per cent reservation would be provided for Agniveers wherever applicable. “The upper age limit for government recruitment, already relaxed by five years, would continue for the next two years,” he added. “Our objective is to ensure that the benefits of government schemes reach the weakest sections of society. Necessary reforms will be undertaken wherever required,” he said.

West Bengal Budget Live: 1 lakh vacancies in govt jobs to be filled, ₹36,000 cr for Annapurna scheme; ₹14,000 cr for GRAMG scheme; 20% DA hike and more
Asia
The Hindu BusinessLine

Telangana CM Reddy asks Rajnath Singh to develop Adilabad airport

Telangana Chief Minister A Revanth Reddy has requested Defence Minister Rajnath Singh to develop the Adilabad Airport, which is being developed by the Indian Air Force (IAF), with comprehensive facilities. Reddy, who is on a tour in New Delhi, met with the Defence Minister on Monday. The state government would extend full cooperation for the expansion of the upcoming Adilabad Airport under the aegis of India Air Force considering the its significance to national integrity and defence, Reddy said. The CM also requested the Union Minister to support the large-scale establishment of cargo, MRO (Maintenance, Repair, and Overhaul) and hangar facilities alongside the Indian Air Force terminal and the Civil Aviation terminal intended for passenger convenience. Adilabad Airport would be suitable for hanger operations, the Chief Minister said and requested the Union Minister to set up a hanger. The Chief Minister also requested Rajnath Singh to expedite the approval of a key project - DRDO / DRDL at Devarakadra in Mahabubnagar district which has been selected for the establishment of the defence facility, according to a release. 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.

Telangana CM Reddy asks Rajnath Singh to develop Adilabad airport
Europe
The Guardian

Trump claims US and Iran on verge of signing peace agreement, but Tehran says no final decision made

Donald Trump has claimed a deal with Iran is very close, but senior regime officials said a final conclusion had not been reached. Photograph: Aaron Schwartz/CNP/ShutterstockView image in fullscreenDonald Trump has claimed a deal with Iran is very close, but senior regime officials said a final conclusion had not been reached. Photograph: Aaron Schwartz/CNP/ShutterstockIranTrump claims US and Iran on verge of signing peace agreement, but Tehran says no final decision madeIranian leadership has not confirmed claim, after the US president announced that planned strikes on Iran had been cancelled Donald Trump claimed on Thursday that Washington and Tehran were on the verge of signing a peace agreement, and announced that he was cancelling fresh missile strikes, after two days of escalating attacks on Iran that threatened to collapse the fragile ceasefire. His comments followed a new bout of public diplomacy by social media, but were dismissed by Iran’s foreign ministry, which said a final decision on an agreement had not been reached. “Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening,” Trump wrote on Truth Social, the social network he owns. While the White House has long sought a peace agreement with Iran – and it would mark a major achievement for this administration – Trump has claimed dozens of times to be close to a deal without any agreement eventuating. “So far, Iran has not reached a final conclusion on the agreement,” Baghaei said. Tasnim, the semi-official Iranian news agency, wrote that “until a potential understanding is announced by Iran, any news from Trump on this matter should be dismissed”. A diplomat briefed on the talks said that the deal had largely been agreed to several weeks ago but that there was still a “50% chance” that it will collapse. “There are a lot of potential spoilers,” the diplomat said. The new agreement would provide for a timeline for demining the strait of Hormuz, during which the US naval blockade would remain in place. It also discusses mechanisms for further nuclear talks and the release of frozen Iranian assets but does not contain concrete agreements about how that will take place. Trump however, continued to claim that a deal had been reached, telling reporters at the White House that the strait of Hormuz would open “as soon as we sign, which could be soon … maybe over the weekend in Europe.” Trump claimed the negotiations had been approved by other parties to the conflict, including Israel, which has been publicly skeptical about any deal with Iran. Others included the Gulf states of Qatar, Saudi Arabia and the United Arab Emirates, as well as regional powers Turkey and Pakistan. Benjamin Netanyahu’s office said in a statement that Israel was not a party to the memorandum of understanding with Iran, but the prime minister “expressed his appreciation” for Trump’s commitment that the final deal would include the removal of enriched material, limits on missile production, and the cessation of support for proxies in the region, measures that have proved to be red lines for Iran in the past.

Trump claims US and Iran on verge of signing peace agreement, but Tehran says no final decision made
North America
Yahoo Finance

Here Are Friday’s Best Wall Street Analyst Research Calls: Adobe, Advanced Micro Devices, Ares Capital, Coca Cola, e.l.f. Beauty, FormFactor, Kratos Defense, Travelers, Williams-Sonoma, and More

Futures are trading higher as excitement builds for the Elon Musk Space Exploration Technologies IPO (NASDAQ: SPCX), which is priced at $135 per share and set to begin trading later today. We saw a big risk-on Thursday, which produced a massive rally across the major indices, as once again, President Trump said we are close to a peace deal with Iran after some major airstrikes and a threat to take over Kharg Island. That sent stocks soaring and oil plummeting. When it was all said and done, the Russell 2000 was the big winner, closing up 3% at 2,920, while the Nasdaq was close behind, finishing the session up 2.54% at 25,809. The Dow Jones Industrial Average was last seen at 50,848, up 1.86%, and the S&P 500 closed the session at 7394, up 1.75%. Yields were down across the entire Treasury curve following the President’s prediction of near-term peace. The President also canceled additional airstrikes that were scheduled for Thursday night. Despite some nasty inflation news and data this week, hopes that inflation will start to taper with lower oil prices also helped drive prices higher. The 30-year-long bond closed the day at 4.95%, while the 10-year note was last seen 4.46%. The potential for an end to the four-month war with Iran once again lit the fuse for the sellers to step up to the plate, and they did on Thursday. Brent Crude finished on Thursday at $88.71, down 4.82%, while West Texas Intermediate closed at $86.07, down 4.40%. Natural gas was also hit and closed Thursday’s session at $3.07, down 3.52%. Gold had a nice turnaround day, which many on Wall Street attributed to short-sellers closing positions and a weaker dollar, but the fact is, the precious metal has remained in a slump, and recently hit a six-month low. The path of least resistance is likely lower. The final trade for Gold was posted at $4,210, up 3.45%, while Silver ended the session at $67.24, up a whopping 6.23%. 24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Here are some of the best Wall Street analyst upgrades, downgrades, and initiations seen on Friday, June 12, 2026.

Here Are Friday’s Best Wall Street Analyst Research Calls: Adobe, Advanced Micro Devices, Ares Capital, Coca Cola, e.l.f. Beauty, FormFactor, Kratos Defense, Travelers, Williams-Sonoma, and More
Asia
The Hindu BusinessLine

Energy Edits Newsletter for June 21, 2026

The fortnight saw that structural realignment of the world’s energy mix continues to accelerate. While the initial US-Tehran agreement promises to unwind critical oil sanctions and reshape global maritime logistics, India’s Biofuel Mandate -- Ethanol Blended Petrol Programme -- scales rapidly, forcing the automotive sector to accelerate flex-fuel deployment. The Finance Ministry issued a series of notifications exempting petrol with an ethanol blend of 22 per cent to 30 per cent from Central Excise Duty. However, the Oil Ministry noted that these higher blends will not be rolled out until extensive testing and stakeholder consultations are complete. businessline bureau OMCs received ₹1.23 lakh crore support to hold fuel prices. Fertiliser Ministry seeks double the subsidy allocation. businessline bureau On June 12, Indian External Affairs Minister S. Jaishankar phoned U.S. Secretary of State Marco Rubio to register a “strong protest” about the killing of three Indian seafarers by U.S. strikes in the Gulf of Oman on June 9. Media reports Iran on Saturday said that it closed the Strait of Hormuz because of Israel’s attacks in Lebanon and warned that while negotiators were going to Switzerland for talks with the United States on their interim agreement, not much likely will happen if the fighting doesn’t stop. US President Donald Trump, in response, threatened to impose US tolls in the crucial waterway if a final deal with Iran isn’t reached in 60 days, saying the money would be for “services rendered as the Guardian Angel to the countries of the Middle East”. His social media post underscored that the agreement calls for toll-free travel for 60 days. Media reports (AP-PTI) Electricity bills set for reset; CEA proposes roadmap for fixed charges from users. Rishi Ranjan Kala Policy uniformity, public trust vital for India’s ethanol blending success. Richa Mishra Bulk users diverted 3.50 lakh tonnes of diesel sales to retail outlets in May forcing Govt to cap sales. Rishi Ranjan Kala Where to put your green money: AP, Uttar Pradesh and Rajasthan stand out in India’s energy transition. Rishi Ranjan Kala The chip industry requires huge, uninterrupted power and water supply. India’s energy and chip policies need to be in sync. Richa Mishra In the latest episode of Energonomics, Richa Mishra, explores the future of Indian energy security with a true titan of the industry — Dr. A.K. Balyan. Dr Balyan, a pioneer who launched India’s first commercial Coal Bed Methane project, is currently Secretary General of the Coal Gasifiers Association. He breaks down the reality of India’s 2030 coal gasification mission. 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.

Energy Edits Newsletter for June 21, 2026
Asia
The Hindu BusinessLine

60% surveyed professionals say AI now central to HR operations: Report

Artificial intelligence (AI) is becoming central to human resource management, with 60 per cent of professionals surveyed saying it is now a top focus across HR functions, while another 15 per cent reported its growing importance in areas such as recruitment and onboarding, according to a survey-based report. The 'AI As The New HR Priority -- Efficiency, Cost and Workforce Impact' report is based on a survey among 1,811 HR professional across industries conducted between May 7-31. Over 60 percent of professionals believe AI is now a top priority across HR functions, while another 15 percent say it is becoming a growing priority in recruitment, onboarding, routine HR operations, workforce staffing, and HR solutions. This is revealed by the Genius HRTech DigiPoll Survey, ‘AI as the New HR Priority - Efficiency, Cost, and Workforce Impact. According to the findings of the report, 60 per cent of respondents identified improving efficiency and productivity as the primary reason for AI adoption, followed by 20 per cent who believe organisations are leveraging AI to reduce costs and optimise workforce management. It found that AI is already transforming day-to-day HR operations, with 42 per cent of respondents reporting significant improvements in the speed and efficiency of HR processes and another 29 per cent noting moderate gains, indicating that automation is making recruitment, onboarding and employee services faster and more seamless. Beyond efficiency, AI is also influencing workforce structures as 42 per cent of professionals believe AI is reducing reliance on manual or repetitive roles, while 37 per cent feel it is enabling smarter workforce planning, signalling a shift towards technology-enabled, skill-first organisations. "Successful AI adoption is not about replacing people, it is about empowering them. Businesses that combine intelligent automation with human expertise, transparency and ethical governance will build stronger, more resilient workplaces," Genius HRTech Chairman R P Yadav said. 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.

60% surveyed professionals say AI now central to HR operations: Report
Asia
The Hindu BusinessLine

India, US to hold ministerial-level trade pact talks this week

US Trade Representative Jamieson Greer and Commerce and Industry Minister Piyush Goyal will hold two-day talks this week on the first phase of the bilateral trade agreement. "For the US trade deal talks, tomorrow my counterpart is coming to Delhi," Goyal told reporters in Mumbai. The meeting followed chief negotiator-level discussions on the pact held earlier this month (June 2-4) here in the national capital. Commerce Secretary Rajesh Agrawal has recently stated that the discussions between the two ministers are expected to be centred around giving final touches to the framework deal. On June 5, Goyal said India and the US are moving towards closing all the open ends of the interim trade agreement, and both sides are likely to execute the "very, very vibrant" first phase of the BTA by the middle of next month. The 10 per cent temporary tariff imposed by the US on all its trading partners on February 24, 2026, for 150 days will expire on July 24. After that, the MFN (most favoured nation) tariffs will come into force on goods imported by the US. The temporary tariff is levied over and above the MFN duty. So before July 24, the US has to put in place a new tariff regime. For that, the US is conducting two Section 301 investigations against a number of countries, including India. This is the only legal mechanism through which the US can impose new tariffs of any magnitude. In March, the US Trade Representative (USTR) launched two unilateral Section 301 of the Trade Act of 1974 investigations against a number of countries, including India, over excess capacity and failures to eradicate forced labour in global supply chains. On June 2, the USTR proposed imposing 12.5 per cent tariffs on 54 countries, including India, for allegedly failing to prohibit the import of goods produced with forced labour. The measure remains a proposal and has not yet been finalised. Interested parties can submit requests to appear at hearings and summaries of testimony by June 22. The USTR is scheduled to hold hearings on July 7. On February 20, the US Supreme Court ruled against US President Donald Trump's sweeping reciprocal tariffs, which were imposed under the 1977 International Emergency Economic Powers Act (IEEPA). India was facing a 50 per cent tariff. Because of the ruling, the US has to replace the sweeping reciprocal tariffs with temporary duties.

India, US to hold ministerial-level trade pact talks this week