Published on: June 8, 2024

Snippets : 8 JUNE 2024

Snippets : 8 JUNE 2024

  • The US SM-6 missiles are hogging the headlines again after photographs of a US Navy F/A-18 Super Hornet appeared carrying an air-launched variant of the SM-6, or the RIM-174 missile
  • The Securities and Exchange Board of India (SEBI) has introduced a framework to shield stock prices from the impact of market rumours, aiming to maintain fair pricing for transactions such as takeovers, buybacks, and preferential issues. This framework includes rules for unaffected price determination, exclusion of weighted average price (WAP) variations due to rumours, adjustments for price band limits, and phased implementation starting from June 1, 2024.
  • The World Health Organization (WHO) confirmed the death of a 59-year-old man in Mexico from H5N2 bird flu, marking the first human fatality from this strain. The man had no history of exposure to poultry or other animals, raising concerns about the virus’s potential shift in transmission and its implications for public health. Avian influenza, typically affecting birds, can infect humans and cause severe respiratory illnesses. The unusual transmission in this case suggests a possible change in the virus’s behavior, necessitating heightened vigilance and preventive measures by global health authorities.
  • The Capgemini Research Institute’s World Wealth Report 2024 highlights significant growth in the number and wealth of high net-worth individuals (HNWI) in India and globally. In India, the HNWI population increased by 12.2% to 3.589 million, and their financial wealth grew by 12.4% to $1,445.7 billion in 2023. India and Australia were top performers in the Asia-Pacific region, driven by a resilient economy and robust equity markets. Regionally, HNWI wealth and population in Asia-Pacific grew by 4.2% and 4.8%, respectively. Globally, HNWI wealth rose by 4.7% and population by 5.1%. Economic indicators in India showed a decrease in unemployment to 3.1%, GDP growth of 7.3%, a 29% increase in market capitalization, and a rise in national savings to 33.4% of GDP.