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The dollar remained on the back foot on Friday as global trade frictions and signs of weakness in the U.S. economy supported the case for more rate cuts by the Federal Reserve.The dollar index is set for its biggest weekly drop in almost three months as an extended shutdown of the U.S. government blocked the publication of key economic data. The yen held on to gains after Bank of Japan Governor Kazuo Ueda spoke about factors that could lead to a rate increase this month.Compounding concerns about trade, Fed independence and the U.S. shutdown are making the greenback vulnerable to the debasement trade, where investors seek assets that can't easily be devalued, said Pepperstone research strategist Dilin Wu."It's really hard to find a bullish scenario for the dollar index," said Wu. "Instead of betting on any currency by a single sovereign credit, people are rushing into gold, cryptocurrency, and other assets as a risk hedge."The dollar index, which measures the greenback against a basket of currencies, was little changed at 98.23 and remained on course for a 0.6% slide this week - the biggest five-day retreat since late July.Against the Japanese yen, the dollar weakened 0.2% to 150.12. BOJ Governor Ueda said in Washington on Thursday that the central bank remains ready to increase its key policy rate if the likelihood of its growth and price forecasts materializing increases. BOJ Deputy Governor Shinichi Uchida is due to speak later on Friday.The euro added 0.1% at $1.1701, while sterling also tacked on 0.1% to $1.3446.Fed Governor Christopher Waller said he is on board with another interest rate cut at the U.S. central bank's meeting later this month because of the mixed readings on the state of the job market.Stephen Miran, the Fed's newest governor and an economic advisor to U.S. President Donald Trump, reiterated support for more aggressive rate cuts at upcoming meetings than the one favored by some of his colleagues. Miran's seat expires at the end of January, while Fed Governor Lisa Cook remains in place as the case over Trump's attempt to fire her winds through the courts.The Fed's Beige Book offered little support to U.S. rates, pointing to emerging signs of economic weakness, including rising layoffs and reduced spending among middle and lower-income households.Trade frictions between Beijing and Washington heated up overnight, with China accusing the U.S. of stoking panic over its rare earth controls, rejecting a White House call to roll back the curbs.In cryptocurrencies, bitcoin gained 0.6% to $108,534.66, and ether rose 1.8% to $3,919.71.

ET Intelligence Group: India's top tier software exporters continued to report a sustained momentum in deal wins including new as well as those up for renewals for the September quarter amid a challenging business environment - rising client requirements to incorporate AI (artificial intelligence) capabilities in IT deliverables and uncertainties pertaining to the impact of US tariffs especially on sectors including consumer, retail and manufacturing which resulted in delayed decision making and slow project ramp ups. A major takeaway from the latest quarterly numbers reported by companies including Tata Consultancy Services, Infosys, HCL Tech, and Wipro is that these companies are fast adapting to the technological changes. Each one of them not only have strategies to implement AI capabilities in their services deliverables but are also winning new deals because of that. This at a time when AI has started driving majority of the discretionary IT spending by clients - projects that focus on long-term benefits to the business and customers rather than short-term solutions to keep the business running. While it is too early to declare a successful transition by Indian IT companies into the advanced AI field from the conventional cost arbitrage model, the fact that the deal pipelines of these companies continue to stay strong is noteworthy. What now calls for is certainty on the tariff related issues, which currently hinder long-term decision making.124617924 In addition, the impact of the new H1B visa rules seems to be more of short term in nature as Indian IT companies have been gradually increasing either local or near-shore hiring to reduce their dependence on work visas. Wipro, for instance, hosts nearly 80% of the workforce working for US clients locally. The flip side of this strategy, however, is more pressure on profitability since onsite projects tend to have lower margin. Levers such as improving employee utilisation, tilting services mix to customised solutions, and long-term client engagements to improve wallet share can be used judiciously to protect margins. Among the top tier companies, some seem to have weathered the business challenges better going by the trend in the year-on-year growth of trailing 12 month (TTM) revenue in dollar terms. On this scale, HCLTech has shown a greater resilience though its TTM revenue growth has remained below 5% for the past three quarters. Infosys has staged a smart recovery by improving the TTM growth to 4.5% over the past two quarters from a low of 1.5% a year ago. On the other hand, TCS and Wipro show a higher pressure on the top line growth. Given the deal momentum and the fact that barring TCS, other companies have reported improved hiring in the September quarter, the second half of the current fiscal year is likely to show better performance by the top tier companies. This coupled with weaker rupee may support their stock performance in the medium term.

Mumbai: India's stock indices climbed 1% each on Thursday as the pace of selling by overseas investors slowed, while buyers cheered second-quarter earnings on expectations of a trade truce between Washington and New Delhi. Analysts said the Nifty can inch toward 26,000 levels in the next couple of weeks, but post Diwali, the continuation of gains hinges on the US-India trade deal. The NSE Nifty climbed 1% to 25,585, up 261 points. The BSE Sensex advanced 1%, or 862 points, to 83,467. Nestle India surged 4.8% and emerged as the top gainer in the Nifty pack while Tata Consumer Products and Titan jumped 3.1% and 2.5%, respectively. Axis Bank and Kotak Bank rose over 2% each. "Earnings for Axis Bank were better in terms of the operating metrics and loan book growth and the same is expected for Kotak Bank as well," said Sunny Agrawal, Head of Fundamental Equity Research, SBI Securities. "The provisional numbers for Titan were also strong." The US Federal Reserve is expected to cut interest rates by 25 basis points which could drive global funds to chase riskier assets among emerging markets, he said.124617787 "Since India has underperformed in the last 15 months, it could be a value play for them and lead to inflows," said Agrawal. Foreign portfolio investors (FPIs) bought shares worth a net ₹997.3 crore on Thursday. Their domestic counterparts bought shares worth ₹4,076.2 crore. Out of the 11 sessions in October so far, global investors have been buyers on five occasions. Foreign flows have changed direction marginally in the last few days and the market seems to be hoping that this is a sign of strong potential inflows, which is supporting the rally, said analysts. "Auto companies reported strong numbers on account of the festive season and the news around US and India inching closer to a negotiation as per President Trump's new statement buoyed the markets higher," said U R Bhat, co-founder & director, Alphaniti. Most sectoral indices ended higher on Thursday. The Nifty FMCG and realty indices jumped around 2% each. Nifty consumer durables index and auto indices gained 1.5% and 1.3%, respectively. Bank Nifty rose 1.1% and the Nifty Private Bank Index advanced 1.5%. The Nifty Mid-cap 150 and the Small-cap 250 indices advanced 0.5% and 0.4% each on Thursday.

What will the leadership playbook look like in an age marked by geopolitical upheaval and technological disruption? A power-packed panel at the Economic Times 40 Under Forty awards ceremony agreed that a blend of agility, empathy and uncompromising execution will help leaders adapt to a rapidly changing world.Fashion designer Masaba Gupta, who is part of the 2025 Class of 40 Under Forty, said leadership today requires "going back to the drawing board". Best practices, she argued, can sometimes become barriers. "You have to keep the agility of a young brand alive but execute faster," she said.When asked what modern leadership today gets wrong, Shuva Mandal, partner, Anagram Partners, said many businesses remain "tone-deaf" to changing realities, both inside and outside their organisations. "What is the pulse with the community, with your people? Too often, people only want to hear what they want to hear. The bracket of those who genuinely welcome advice is very small," he said. 124614444 The conversation turned to the ethical use of AI, a topic that has reshaped boardroom priorities across industries. Ameera Shah, executive chairperson of Metropolis Healthcare, cautioned against adopting technology for optics. "It's good to embrace the new, but not just for the sake of a buzzword. In healthcare, I wouldn't let AI diagnose reports, and the data and algorithms just aren't there yet. But AI will absolutely transform productivity and how doctors spend time," she said.As Geetika Mehta, managing director, Nivea India, said that while AI now drives insights and product development, human intuition remains central to brand building. "We use AI to understand the consumer pulse and personalise engagement at scale. But the final decision still rests with the people. There is still that element of intuition and creativity that is needed," she said. 124614477 Gupta, too, acknowledged AI's disruption in the fashion industry, particularly in graphic design, product development and R&D, but said it cannot replace human sensibility. She noted that when it comes to storytelling, an AI-generated copy lacks the soft touch of a human. "I think that there is a very famous quote that is doing the rounds: you are not going to be replaced by AI. You are going to be replaced by AI if you don't learn how to use it well to your advantage," she said, adding that her teams follow clear guardrails on when to use AI and when to rely on their own judgement.As the discussion widened to global realignments and reorder, Shah underlined the need for anticipation and scenario planning. "Leaders can't be punters. Our job is to build scenarios and say, if it goes in this way, am I ready? Anticipating risk and planning your next steps is a very critical part of governance to protect the business." 124614488 Shah said when the world is shifting, one has to be ready to embrace any pivot that may be needed to correct the business. "We have seen businesses in the last six months completely stop because of the (US) tariffs. We knew the tariffs were coming... but there were many people who just sort of said, 'Oh, it's not coming', and now they have gone bust."On the nationalist sentiment in India, Mehta cited a recent closed-door meeting with the government where 'Make in India' was the centre of the agenda. "Here in India, we have our own factory. But I think the reality is that a lot of companies today do use their global networks to make in a few places and sell elsewhere. And with this protectionism coming through, it could potentially impact (businesses)." 124614511 Mandal said while geopolitics is not a leadership issue, businesses today are getting more aligned with governments. "Leaders across the world are going to the capital cities and asking, 'Tell us what we should do'. You are seeing the tech titans meet in the White House. You are seeing similar issues in China. In India, meetings are not so public. But if you really go into the strategies of business houses in a very deep way, you can see it is pretty aligned with what governments want them to do."Bringing the conversation full circle, Gupta reflected on leadership in the public eye and the balance between self-worth and social validation. "I am an entrepreneur first. The celebrity part is just a bonus. My brand will always be product-first. I wear different hats throughout the day. In my mind I can make that differentiation," she said.

Cochin Shipyard Limited (CSL), a public-sector shipbuilder, will launch three technologically advanced vessels, including an Anti-Submarine Warfare Shallow Water Craft (ASW SWC) for the Indian Navy, here on Saturday, the company said.The other vessels to be launched are the Hybrid Electric Methanol-Ready Commissioning Service Operation Vessel (CSOV) and India's largest Trailer Suction Hopper Dredger, DCI Dredge Godavari.According to CSL, the triple launch reaffirms the shipyard's leadership in naval, commercial and green maritime segments."These launch will showcase India's engineering excellence, indigenisation drive and commitment to sustainable maritime development under the Maritime India Vision 2030 and Aatmanirbhar Bharat initiatives," the CSL said in a statement.The ASW SWC for the Navy is the sixth vessel built under an eight-ship contract signed in April 2019.The 78-metre-long, 896-tonne craft can achieve speeds up to 25 knots and is equipped with advanced underwater sensors, lightweight torpedoes, ASW rockets, and mine-laying capability, the CSL said.The vessel can also conduct low-intensity maritime operations, coordinated ASW missions with aircraft, and search and rescue operations in coastal waters.It will replace the Indian Navy's Abhay-class corvettes, enhancing the force's near-shore anti-submarine capabilities with improved automation and endurance, the CSL statement said.The CSL said that Hybrid Electric Methanol-Ready CSOV (Hull No. BY 151) marks CSL's entry into the offshore renewable energy market.The 93-metre-long, 19.6-metre-wide vessel, equipped with hybrid-electric propulsion, methanol-ready engines, large lithium-ion battery packs, and a motion-compensated gangway system, will support commissioning and maintenance of offshore wind turbines, the statement said.It will also serve as a "floating hotel" for offshore technicians, designed to world-class comfort and noise standards, the CSL said.Similarly, DCI Dredge Godavari, being built for Dredging Corporation of India in collaboration with Royal IHC, Netherlands, is India's largest and most advanced dredger.The CSL said that the 12,000-cubic-metre Trailer Suction Hopper Dredger, measuring 127 metres in length with a dredging depth of 36 metres, will boost India's port deepening and reclamation capacity."This project embodies the Aatmanirbhar Bharat vision, bringing world-class dredging technology to Indian shores and strengthening the nation's port-led development," the CSL added.