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Munich Airport in Germany reopened Saturday morning after being closed overnight for the second time in less than 24 hours due to suspected drone sightings, the airport said in a statement. The closures are part of a series of mysterious drone overflights affecting airports and critical infrastructure across European Union countries. The airport, one of Germany’s busiest, resumed operations gradually from 7 am local time (0500 GMT) Saturday. Normally, flights begin departing around 5 am. At least 6,500 passengers were impacted by Friday night’s closure, while the previous shutdown on Thursday night affected nearly 3,000 travellers. Authorities have not provided any information about who might be responsible for the drone incursions. Similar incidents have been reported in Belgium, where drones were spotted over a military base, and in Oslo, Norway, affecting flights late last month. European officials have raised concerns that Russia could be behind the drone activity, though experts note that any operator with drones could be responsible. Russian authorities have denied involvement in recent incidents, including those in Denmark. Germany’s Interior Minister Alexander Dobrindt said he and other European counterparts would discuss the situation and a “drone detection and defense plan” at a meeting this weekend in Munich. He added, “We are in a race between drone threat and drone defence. We want to and must win this race,” speaking in Saarbrücken alongside Chancellor Friedrich Merz and French President Emmanuel Macron during a ceremony marking the 35th anniversary of Germany’s reunification.(With inputs from AP)

Indian markets have had a rough ride in 2025, with Nifty barely up 4% while gold and silver soared. Amid global uncertainties — from tariffs to geopolitical tensions — investors are looking for direction. Chirag Muni, Executive Director at Anand Rathi Wealth, shares why, despite the volatility, the current market setup could be an opportunity for long-term investors, and how mutual funds and retail participation are shaping the outlook.Excerpts:Q. Let’s start with the markets. 2025 has been tough for Indian equities, while commodities like gold and silver have done well. What’s your take on Sensex and Nifty?Chirag Muni: As you rightly mentioned, global uncertainties—tariffs, geopolitical tensions, and wars—have kept markets on edge. Gold and silver have performed well because they are sentiment-driven assets. Gold demand rises in uncertain times, with central banks like India and China buying to diversify from the dollar. Silver’s demand is partly industrial, for EVs, solar panels, and semiconductors.Equities, however, historically deliver better long-term returns. Over a five-year horizon, Nifty has given more than 10% returns 82% of the time, whereas gold and silver range between 40–50%. Despite global uncertainties, the Indian market has cushioned itself. From a long-term perspective, this presents an opportunity rather than a risk.Q. Could Trump’s 100% tariff on drugs affect mutual funds in the pharma sector?Chirag: The tariff mainly affects branded and patented drugs, not generics, which constitute most Indian exports to the U.S. Mutual fund exposure to pharma is around 8–9%, so overall impact is limited. Specialty drugs might see some effect, but it’s not a major long-term concern.Q. How should investors approach the rest of 2025?Chirag: The market has undergone price and time corrections. From a peak of 26,000 last year to a low of 22,000, and now back to 25,000, it's an opportunity. Long-term investing is driven by macro factors, and India’s fundamentals remain strong: GDP growth around 6.5%, low inflation at 2.1%, and interest rates already cut by 100 bps. Valuations are fair, and earnings are expected to rebound.From a short-term perspective, FIIs have been selling, but DIIs and retail SIPs continue to provide liquidity. This makes it a favorable environment for investors with a 3–5 year horizon. The one-year forward PE suggests the market could reach 26,500–27,000 by year-end, implying a potential 10–11% return.Q. Quant funds have not been performing well. What’s happening with Quant Mutual Funds?Chirag: Quant faced challenges last year due to regulatory investigations and market conditions, which limited fund manager flexibility. However, negative news is mostly cleared, and recent performance has improved. Quant Largecap, in particular, is showing strong recovery due to its flexible, data-driven investment approach.Q. For long-term investors, how should they approach the market now?Chirag: Avoid chasing themes or timing the market. Focus on diversified funds:55–60% largecap20–25% midcap15–20% smallcapFunds to consider include DSP Large & Midcap, Kotak Midcap Fund, Invesco Smallcap, HDFC Flexicap, and ICICI Prudential Focused Equity. A basket of these four to five funds, with a 4–5 year horizon, provides diversification and long-term growth potential. Lump-sum investments are fine after a market correction, as short-term volatility will smooth out over time.Disclaimer: Recommendations, suggestions, views and opinions given by the experts/brokerages do not represent the views of Economic Times.

Coinbase Global Inc., the largest US crypto exchange, is seeking a national trust company charter from the Office of the Comptroller of the Currency, the company said Friday.Payments have become a big area of focus for Coinbase in the past year, as the use of stablecoins has taken off. President Donald Trump signed a law in July regulating stablecoins, fueling the industry’s growth. Coinbase has already struck partnerships with companies including Shopify Inc. to rev up the use of USDC, the world’s second-biggest stablecoin, which it supports and shares revenue from with issuer Circle Internet Group Inc.“An OCC charter will streamline oversight for new offerings and enable continued innovation to integrate digital assets into traditional finance,” Tusar’s blog said.Other crypto companies and financial-technology firms have been pursuing or considering national bank charters.Circle applied for a national trust charter in June, while blockchain providers Ripple Labs Inc. and Paxos Inc. did so in July and August, respectively. Crypto custodian Anchorage Digital Bank NA, for instance, has already been granted one.Coinbase is applying for the charter as Congress is working on a market-structure bill that’s expected to better define oversight and regulation of the crypto industry. It’s expected to go through markup in the Senate in late-October but may not pass until some time next year.Coinbase’s shares are up 53% since the beginning of the year, to $380.02, according to data compiled by Bloomberg.