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☆ She got on a flight to visit her boyfriend. Then she kissed a stranger she met on the plane
▼ + stars: | 2024-06-21 | by ( Francesca Street | ) edition.cnn.com time to read: +15 min

An airplane encounterAmy and Mike met on March 23, 2006, on an airplane about to depart Los Angeles International Airport. But then Mike apologized – half jokingly, half sincere – for ruining Amy’s flight. First in the coffee line, and later as they walked through the airport, Amy and Mike continued chatting. Mike didn’t want Amy to leave, but Amy wasn’t going to abandon a great career opportunity. Later this year, Amy and Mike hope to take their kids to Japan – an 11 hour plus flight from LAX.

Persons: Amy Osmun, she’d, Mike Gilberstadt, They’d, Amy, Mike, “, ”, wasn’t, Mike couldn’t, dietician, She’d, sauntering, Mike —, –, Mike –, Mike’s, I’d, he’d, Amy marveled, Mike didn’t, Amy wasn’t, ” He’s, Amy Gilberstadt “, Valentine, Amy Gilberstadt, ” Amy, “ I’d, I’ve, I’m, “ You’re, Barbies, ‘ I’ve, ” “, Amy’s, “ We’re, they're, Kelli Gase, they’ve Organizations: CNN, CNN Travel, Los Angeles International Airport, California State University, Amsterdam Schipol Airport, LAX, Scotland, TiVo, . Locations: Amsterdam’s, Scotland, Greece, Southern California, Amsterdam, California, Mike’s, Orange County, San Diego, Venice, Italy, Ireland, Hong Kong, India, Japan, China, Australia, New Zealand, Tahiti, United Kingdom, Alaska, Vermont

☆ Supreme Court rejects challenge to tax on foreign investments — but avoids wealth tax debate
▼ + stars: | 2024-06-21 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

An exterior view of the Supreme Court on June 20, 2024 in Washington, DC. In a closely watched case, the Supreme Court on Thursday denied a challenge to a federal tax on certain foreign investments — but left questions about whether a wealth tax is constitutional. The provision was enacted via the Republicans' 2017 tax overhaul to help pay for the legislation's other tax breaks. While the Supreme Court upheld the tax on the Moores, the justices steered clear of the broader debate on whether a wealth tax is constitutional. He emphasized the limited scope of the opinion and how it only addressed the "precise and narrow question" of the Moore's case.

Persons: Moore, Moores, Xers, haven't, Brett Kavanaugh Organizations: Republicans, Finance, Trump, Moores Locations: Washington , DC, United States, Washington, India

☆ Swiss Court Set to Rule in Trafficking Case Involving U.K.’s Richest Family
▼ + stars: | 2024-06-21 | by ( Isabella Kwai | ) www.nytimes.com time to read: 1 min

A Swiss court is expected to issue a ruling on Friday on whether members of Britain’s wealthiest family are guilty of human trafficking over allegations they exploited domestic workers at a luxury villa in Geneva. Prosecutors charged four members of the Hinduja family — Prakash Hinduja, Kamal Hinduja, Ajay Hinduja and Namrata Hinduja — and accused them of trafficking several workers from India, confiscating their passports and forcing them to work 16-hour days without overtime pay in the villa. Lawyers representing the Hindujas have denied the allegations. The Hinduja family helms a multinational conglomerate with large holdings in automotive manufacturing, banking, oil and gas, real estate and health care. The Sunday Times of London recently estimated the family’s net worth to be 37 billion pounds, or $47 billion, and listed them as Britain’s richest family.

Persons: Prakash Hinduja, Kamal Hinduja, Ajay Hinduja, —, helms Organizations: Prosecutors, Sunday Times Locations: Geneva, India, London

☆ Well Beyond the U.S., Heat and Climate Extremes Are Hitting Billions
▼ + stars: | 2024-06-21 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

All have died in blistering heat in recent weeks around the world, a harrowing reminder of the global dangers of extreme weather as a severe heat wave bears down on more than 70 million Americans this week. Dozens of cities in Mexico broke heat records in May and June, killing more than 100 people. Greece is bracing for wildfires this week, right after back-to-back heat waves killed several tourists. Extreme heat killed an estimated 489,000 people annually between 2000 and 2019, according to the World Meteorological Organization, making heat the deadliest of all extreme weather events. “Climate change may also drive food and water shortages and in turn civil unrest, and mass migration,” the report said.

Organizations: Pilgrims, Associated Press, Climate Central, World Meteorological Organization Locations: Mexico, India, Delhi, Greece, Bamako, Mali

☆ Amazon will stop using those little plastic pillows in its packaging
▼ + stars: | 2024-06-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon is eliminating the use of the puffy plastic air pillows used in delivery boxes, joining other major companies that are cutting their plastic use. The company said it was shipping 15 billion plastic pillows annually, and the changes represent its largest plastic packaging reduction effort in North America. Amazon has already stopped using them in 95% of deliveries and they will stop completely by the end of the year. A new paper filler made from 100% recycled content will replace the plastic pillows. Amazon has stopped using plastic pillows in other countries, including Australia, India and nations across Europe, in recent years, which resulted the company in using nearly 12% less plastic in 2023 compared to the year prior.

Persons: ” Matt Littlejohn, Oceana’s Organizations: New, New York CNN, Strategic Locations: New York, North America, Australia, India, Europe, Oceana, America

☆ India heatwave: Brutal nighttime temperatures give Delhi residents little respite
▼ + stars: | 2024-06-21 | by ( Esha Mitra | Kathleen Magramo | ) edition.cnn.com time to read: +6 min

New Delhi CNN —Nights are getting uncomfortably and dangerously hotter in India’s capital as people in the world’s most populous nation feel little respite from unrelenting temperatures. Northern India has endured a scorching summer — with one part of the capital of Delhi recording the country’s highest-ever temperature 49.9 degrees Celsius (121.8 degrees Fahrenheit) earlier this month. Bicycle rickshaw driver Sagar Mandal told CNN that he’s been getting fewer passengers because people opt for air-conditioned taxis over open-air transport. Outdoor workers like Nikhil Kumar find no respite as the heat lingers on even at night. Residents fill their containers with water supplied by a municipal tanker in New Delhi on 19 June, 2024.

Persons: Sagar, he’s, “, ”, Nikhil Kumar, Esha Mitra, “ We’ve, Kalyani Saha, hasn’t, ” Saha, Saha, Money Sharma, Ajay Chauhan, Ram Manohar Lohiya, ” Chauhan, Chauhan, “ that’s, Sarita Kumari, ” Kumari Organizations: New, New Delhi CNN, Centre for Science, Environment, Sagar Mandal, CNN, Getty, Ministry of Health, NGO Centre, Health Development India Locations: New Delhi, Northern India, Delhi, United States, Mandal, Australian, Lajpat Nagar, India

At least 14 Malaysians, 165 Indonesians, 68 Jordanians, 35 Pakistanis, 35 Tunisians, 11 Iranians and 98 Indians have died, according to authorities in each country. According to a CNN tally, this brings the latest official death toll for this year’s pilgrimage to at least 460. The death tolls are expected to rise much further, as Saudi Arabia and Egypt have yet to release official figures. The Bernama report did not specify if the dead were members of the country’s official Hajj delegation. The government is targeting 30 million pilgrims by 2030.

Persons: Mostafa Madbouly, Abdel Fattah el, Mecca Rafiq Maqbool, Mohd Na’im Mokhtar, ”, Arafat, Prophet Mohammed, King Salman bin Abdulaziz, Prince Mohammed bin Salman, Edward Szekeres, Handi Alkhshali, Aishwarya S Iyer Organizations: CNN, Jordanian Foreign Ministry, Crescent, Saudi, Reuters, Saudi Ministry of Health, Associated Press, AP Malaysia’s, Religious, News Agency, Hajj, India’s Ministry, External Affairs, Saudi General Authority, Statistics Locations: Mecca, Jordanian, Saudi Arabia, Egypt, Mina, Saudi

☆ Citi names one 'compelling emerging' theme to play real estate — and stocks and REITs to buy
▼ + stars: | 2024-06-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Real estate companies around the world are eyeing one area right now: data centers, according to Citi. Citi noted the push toward data centers is being driven by major themes such as artificial intelligence and nearshoring. More industrial companies are looking to convert warehouses into data centers, Citi noted. Stocks to benefit The bank named three "direct beneficiaries" of rising data center demand: U.S.- listed real estate investment trust Digital Realty Trust , data center firm Equinix and Australia-listed NextDC . Paul Hanna | Bloomberg | Getty ImagesReal estate companies around the world are eyeing one area right now: data centers, according to Citi.

Persons: Stocks, There's, Keppel DC REIT, Paul Hanna Organizations: Citi, Digital Realty Trust, Digital Realty, Equinix, Nvidia, Keppel DC, Industrial Trust, Inc, Talavera de la Reina, Bloomberg, Getty Locations: datacenters, Equinix, Australia, Singapore, India, Talavera de, Spain

☆ Official Death Toll From Hajj Pilgrimage Climbs Into the Hundreds
▼ + stars: | 2024-06-21 | by ( Emad Mekay | Lynsey Chutel | ) www.nytimes.com time to read: +1 min

During the annual hajj pilgrimage in Saudi Arabia, one of the most important events on the Muslim calendar, at least 450 died under a scorching sun as they prayed at sacred sites around the holy city of Mecca. The pilgrims, some who have saved their whole lives for the hajj, spend days walking and sleeping in tents during their journey to Mecca, the holist city for Muslims. The hajj is one of Islam’s five pillars, and all Muslims who are physically or financially able are obliged to embark on the pilgrimage. Indonesia has so far reported the most deaths, 199, and India reported 98. The number of dead is expected to rise as neither Saudi Arabia nor Egypt, where many pilgrims come from, have released death tolls for their citizens.

Locations: Saudi Arabia, Mecca, Indonesia, India, Egypt

☆ A Malaysia Airlines Boeing plane was seen with its engine ablaze, a midair mishap that forced the flight to turn around
▼ + stars: | 2024-06-21 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

A Malaysia Airlines Boeing flight bound for Kuala Lumpur had to turn back after takeoff. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Malaysia Airlines flight from Hyderabad, India, to Kuala Lumpur, Malaysia, had to return shortly after takeoff on Thursday night. A video taken from inside the aircraft, posted by The Straits Times, showed its engine on fire with sparks flying out behind it. The fire broke out 15 minutes after the plane took off, per The Straits Times.

Persons: — Organizations: Malaysia Airlines Boeing, Service, Malaysia Airlines, The Straits Times, Straits Times Locations: Kuala Lumpur, Hyderabad, India, Malaysia

☆ Nvidia tops the individual stock market values of Germany, France and the UK
▼ + stars: | 2024-06-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Nvidia 's furious rally to become the king of the megacap stocks has also put it above the entire stock market value of some of the world's largest economies. On Tuesday, Nvidia surpassed $3.3 trillion in market capitalization, moving it ahead of Microsoft as the biggest stock in the U.S. But its market cap had already raced ahead of the cumulative value for entire stock markets in Germany, France and the United Kingdom, measured individually and in U.S. dollars. Only India, Japan, China and the U.S. have stock markets bigger than Nvidia alone, according to Deutsche Bank. The rally has also fueled concerns about the concentration of the U.S. stock market in just a few technology names.

Persons: Warren Buffett's Berkshire Hathaway Organizations: Nvidia, Microsoft, Deutsche Bank, U.S, Apple Locations: U.S, Germany, France, United Kingdom, India, Japan, China, OpenAI

☆ Climate change: Fossil fuel use and emissions hit record highs as world struggles with deadly heat, storms and fires
▼ + stars: | 2024-06-20 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

Last year was “another year of highs in our energy hungry world,” said Juliet Davenport, president of the Energy Institute. Overall, the proportion of fossil fuels in the 2023 global energy mix remained largely the same at 81.5%, down just 0.5% from the previous year. India’s fossil fuel consumption was up 8% last year and, for the first time ever, the country used more coal than Europe and North America, combined. Dhiraj Singh/Bloomberg/Getty ImagesIn China, fossil fuel use soared to a new record high in 2023, up by 6%, as the end of its extended Covid lockdowns led to a rebound in fossil fuels. Fossil fuel use in major advanced economies is likely to have peaked and is beginning to fall, it found.

Persons: ’, Sharma, Anthony Behar, SIPPL, ”, Juliet Davenport, Dhiraj Singh, lockdowns, Simon Varley, Dave Jones Organizations: CNN, Energy Institute, Getty, “, US, Bloomberg, Resources, KPMG Locations: Mecca, Saudi Arabia, India, New Delhi, Queens, New York City, NY, Europe, North America, Visakhapatnam, Andhra Pradesh, China, Paris

☆ India wants to be a developed nation by 2047. Here are 4 critical areas Modi can't ignore
▼ + stars: | 2024-06-20 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +7 min

India has undergone a massive infrastructure push and has made significant strides in connecting and modernizing its highways, railways and airports. He's going to double down on that," said Samir Kapadia, CEO of India Index and managing principal at Vogel Group. "Along with creating physical infrastructure, India needs to remain steadfast on the structural reforms ... Increase foreign investmentsFrom veteran emerging markets investor Mark Mobius to global strategist David Roche, market experts remain bullish on India. Foreign direct investments into the country needs to however pick up pace to further drive economic growth and development, analysts told CNBC.

Persons: Vikram Singh, Narendra Modi, Modi, Reema Bhattacharya, Verisk, Modi's, he's, Samir Kapadia, Nirmala Sitharaman, Santanu Sengupta, Goldman Sachs, Sengupta, Richard Rossow, Kapadia, Sumedha Gupta, Vivek Prasad, Prasad, Mark Mobius, David Roche Organizations: Bharatiya Janata Party, BJP, Infrastructure, India Index, Vogel Group, Nurphoto, CNBC, Center for Strategic, International Studies, Padget Electronics, Dixon Technologies, Bloomberg, Getty, Research, India Electronics, Semiconductor Association, Economist Intelligence Unit, Centre, Monitoring, National Stock Exchange of, World Federation of Exchanges Locations: India, Asia, China, Mumbai, Noida, PwC India, National Stock Exchange of India

One by one, each country with the money and the drive to compete started its own nuclear weapons program. Even with this kind of evidence in hand, science has reached only limited conclusions about how nuclear weapons testing affects individuals’ health. They helped create the 2021 Treaty on the Prohibition of Nuclear Weapons, signed by 93 countries, which bans the possession, use and testing of nuclear weapons. France has acknowledged its “debt” to Polynesians over nuclear testing, and it created a commission in 2010 to evaluate nuclear testing victim compensation claims, but it has never apologized. We are still wrestling with the damage wrought by testing nuclear weapons in our past.

Persons: —, Ernest Moniz, Barack Obama, ” Mr, Moniz, Trump, Trump’s, Biden, United States ’, Republic of Kiribati —, we’re, Robert Oppenheimer’s, Oppenheimer, Ben Wyatt, King Juda, Harry Truman, Oppenheimer’s, Karina Lester, ”, Willard F, Libby, Louis, couldn’t, Merril Eisenbud, Hinamoeura, Britain —, “, it’s, John Moody, Benetick Kabua Maddison, Maddison, Benetick, It’s, Vladimir Putin Organizations: Las, Washington, United States, Marshall, Embassy, D.C, Marshalls, U.S, Navy, United, Soviet Union, Britain, Atomic Energy Commission, St, Louis University, Washington University School of Dental Medicine, Bravo, U.S . Navy, Atomic Energy, Centers for Disease Control, Polynesia —, Nuclear Weapons, ., Pacific Mart, Educational, America Locations: U.S, Japan, United States, Russia, China, Nevada, Soviet Union, — Semipalatinsk, Kazakhstan, Reggane, Algeria, Montebello, Australia, Republic of Kiribati, Marshall Islands, Republic, Washington, Hiroshima, New Mexico, Las Vegas, Marshall, Hawaii, Philippines, Bikini, Atoll, Soviet, Africa, Polynesia, Xinjiang, The, Britain Britain, Britain, American, Kwajalein Atoll, France, France France, Tahiti, Nagasaki, Asia, Europe, India, Pakistan, North Korea, United, Kwajalein, Hawaii , California, Washington and Oregon, Arkansas, Springdale, you’re, Rhode Island, Moscow

☆ Justices uphold Trump tax on overseas investments in win for Biden
▼ + stars: | 2024-06-20 | by ( John Fritze | Tami Luhby | ) edition.cnn.com time to read: +5 min

CNN —The Supreme Court on Thursday upheld a Trump-era tax on overseas investments, rejecting an argument from a Washington state couple in a case that could have jeopardized existing tax provisions and torpedoed Democratic talk of a wealth tax. Justice Brett Kavanaugh wrote the majority opinion and Justice Clarence Thomas wrote a dissent. In reading his opinion from the bench, Kavanaugh repeatedly stressed that the opinion was “narrow” and did not implicate the raging debate over a wealth tax. “Those are potential issues for another day, and we do not address or resolve any of those issues here,” Kavanaugh wrote in Thursday’s opinion. Elizabeth Warren of Massachusetts and Ron Wyden of Oregon and Independent Sen. Bernie Sanders of Vermont have also unveiled tax proposals that would hit the wealthiest Americans.

Persons: Brett Kavanaugh, Clarence Thomas, Kavanaugh, Charles, Kathleen Moore, Moores, Donald Trump, Joe Biden, ” Kavanaugh, “, ” Biden, Biden, Democratic Sens, Elizabeth Warren of, Ron Wyden, Independent Sen, Bernie Sanders, Paul Ryan, Moore, Samuel Alito, Alito, Charles Moore Organizations: CNN, Trump, Democratic, Government, Oregon, Independent, Capitol, Moores Locations: Washington, India, trillions, Elizabeth Warren of Massachusetts, Vermont

How to watch India vs. Afghanistan in the USThe India vs. Afghanistan game will live stream on Thursday at 10:30 a.m. View at FuboHow to watch India vs. Afghanistan in the UKThe India vs. Afghanistan game will be available via Sky Sports in the UK. How to watch India vs. Afghanistan in AustraliaThe India vs. Afghanistan game will be available through Prime Video in Australia. How to watch India vs. Afghanistan in IndiaThe India vs. Afghanistan game will live stream free through the Disney+ Hotstar mobile app in India. How to watch India vs. Afghanistan in South AfricaThe India vs. Afghanistan game will be available to live stream through DStv in South Africa.

Persons: We've, They've, Sling's Desi, Fubo, ExpressVPN Organizations: Business, national, teams, ICC, West, India, Willow, Sling, Sky Sports, Sky's, Disney, Cricket Locations: India, Afghanistan, Pakistan, West Indies, Australia, South Africa, DStv

☆ ‘Only pirates do this’: Philippines accuses China of using bladed weapons in major South China Sea escalation
▼ + stars: | 2024-06-20 | by ( Nectar Gan | Kathleen Magramo | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —The Philippines has accused China’s Coast Guard of launching a “brutal assault” with bladed weapons during a South China Sea clash earlier this week, a major escalation in a festering dispute that threatens to drag the United States into another global conflict. A Philippine Navy serviceman on the rubber boat lost his right thumb when the Chinese Coast Guard rammed it, Torres said. China’s Coast Guard also deployed tear gas, “blinding” strobe lights and continuously blared sirens, the AFP said. “The Chinese Coast Guard personnel had bladed weapons and our personnel fought with bare hands. This is the closest China’s Coast Guard has come to the BRP Sierra Madre, Koh noted.

Persons: Thomas Shoal, –, ” Collin Koh, ” Koh, “, ”, Alfonso Torres Jr, Torres, Romeo Brawner Jr, ” Brawner, Ferdinand “ Bongbong ” Marcos Jr, Marcos, Matthew Miller, Enrique A, Antony Blinken, ” Derek Grossman, Koh, they’re, Thomas, Washington “, ” “ Organizations: Hong Kong CNN, Coast Guard, Chinese Foreign Ministry, Philippine, Rajaratnam, of International Studies, Philippine Navy, Armed Forces, Getty, Western Command, Chinese Coast Guard, China’s Coast Guard, Staff, Getty Images Mutual, South China, US State Department, Mutual Defense, RAND Corporation, China Coast Guard, Philippine personnel, Navy Special Operations Group, BRP, BRP Sierra Madre Locations: Hong Kong, Philippines, China, United States, Manila, Spratly, Philippine, Singapore, AFP, ’, China’s, South, States, US, Washington, South China, The Hague, Beijing, India, BRP Sierra, BRP Sierra Madre

☆ CNBC's Inside India newsletter: India Inc might not even need a Fed rate cut — but it wants one
▼ + stars: | 2024-06-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

The big storyEmerging markets have been on tenterhooks for the better part of this year as the Federal Reserve has been dangling the prospect of an interest rate cut. Historically, as U.S. interest rates fall, the allure of the mighty dollar fades to the benefit of other currencies. Indeed, unlike most developed economies, India's interest rate regime in 2024 isn't any different from that of 2018. There lies the disconnect between the economy, the stock market, and a single stock. Non-bank lender Akme Fintrade India and engineering firm DEE Development Engineers will debut on the stock market on Wednesday.

Persons: Sumant Sinha, we've, Sinha, It's, Fitch, Rahul Jain, Goldman Sachs, Jake Sullivan, Modi, Narendra Modi, CNBC's Charmaine Jacob, Raamdeo Agrawal, CNBC's Tanvir Gill, Jain Organizations: Bloomberg, Getty, Federal Reserve, India Inc, Nasdaq, Reserve Bank of, U.S, Societe Generale, Goldman, Clean Energy, CNBC, Motilal Oswal Financial Services, of India, Bangladesh, Australia, DEE Development Engineers Locations: Tuticorin, India, Reserve Bank of India, Japan, Britain, Delhi

How to watch USA vs. South Africa in the USThe USA vs. South Africa game will live stream on Wednesday at 10:30 a.m. See at FuboHow to watch USA vs. South Africa in the UKThe USA vs. South Africa game, along with the rest of the tournament, will be shown on Sky Sports in the UK. How to watch USA vs. South Africa in AustraliaThe USA vs. South Africa game will be available through Prime Video in Australia. How to watch USA vs. South Africa in South AfricaThe USA vs. South Africa game will be available to live stream through DStv in South Africa. How to watch USA vs. South Africa in IndiaThe USA vs. South Africa game will live stream free through the Disney+ Hotstar mobile app in India.

Persons: We've, Sling's Desi, Fubo, ExpressVPN Organizations: Business, South Africa's, teams, ICC, USA, US, team, Team USA, Canada, Pakistan, Ireland, West, Willow, Sky Sports, Sky's, Disney Locations: United States, South, South Africa, India, West Indies, Africa, Australia, DStv

☆ Almost half of Dell's full-time US workforce has rejected the company's return-to-office push
▼ + stars: | 2024-06-19 | by ( Polly Thompson | ) www.businessinsider.com time to read: +7 min

Unless they agree to change their classification, those US Dell workers are now ineligible for promotion. The benefits of WFHFor several Dell employees, the personal and financial benefits of working remotely were too good to give up. I'm not willing to give that up if I don't have to," one employee told BI. "My meetings are now with people in different conference rooms across the country by themselves," a remote employee told BI. Errich Petersen/Getty ImagesAs the reality of Dell's new working culture has set in, several employees told BI they were looking to leave the company.

Persons: —, Dell, hasn't, Brandon Bell, anecdotally, I'm, Jeff Clark, Kevork Djansezian, Getty, Clark, I've, haven't, Michael Dell, Errich Petersen, doesn't Organizations: Service, Business, Dell, Getty, BI Locations: RoundRock , Texas, India, Malaysia

☆ India set for decade-high $2 billion bond inflows around JPMorgan index inclusion day
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

More than $200 billion in assets track the JPMorgan Emerging Market Index in which India will eventually have a weight of 10% by March 2025, suggesting total passive inflows of at least $20 billion over the 10-month period. Since there is no precedent for these debt index-related inflows, bankers' estimates of the timing of flows are based on similar index adjustments in the equity markets. "Obviously, all this is a first and you can't be sure how things will be," the head of trading at a large foreign bank cautioned. In anticipation, large foreign banks could look at building short dollar/rupee positions to help manage inflows when they happen, an FX trader at a foreign bank said. As a senior banker at a large foreign bank said: "all the pipes that have been put in place might not work."

Organizations: JPMorgan, Reserve Bank of India, FX Locations: India

☆ The UAE is set to be the No. 1 'wealth magnet' in the world, new report shows
▼ + stars: | 2024-06-19 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

The UAE expects to see a net inflow of 6,700 millionaires from around the world by the end of 2024, according to new research. The tiny Gulf nation is expected to see an unprecedented net inflow of 6,700 millionaires from around the world by the end of 2024, according to the report released on June 18. That's according to new research by Henley Private Wealth Migration Report . The United Arab Emirates is set to be the world's leading wealth magnet for the third year in a row. The data for the report was supplied by global wealth intelligence firm New World Wealth and features insights on the inflows and outflows of millionaires and their migration patterns globally.

Persons: Dominic Volek, Hannah White Organizations: Henley Private Wealth, United, Henley & Partners, Henley, Partners, Singapore, Institute for Government, Millionaires Locations: UAE, United States, United Arab Emirates, Henley, States, America, Singapore, Canada, Australia, Italy, Switzerland, Greece, Portugal, Japan, East, India, Russia, Africa, United Kingdom, Europe, Asia, China, Kingdom, Korea, Brazil, Taiwan, Taipei, Nigeria, Vietnam

☆ Putin arrives in Vietnam as Russia seeks support in face of Western isolation
▼ + stars: | 2024-06-19 | by ( Helen Regan | ) edition.cnn.com time to read: +7 min

Considered a pariah by the West, Putin is looking to boost economic ties with friendly countries and show that Western isolation is not having an impact. Vietnam was among several Southeast Asian countries that abstained from joining a global summit on Ukraine in Switzerland last week. Last week, Vietnam sent a delegation led by its Deputy Minister of Foreign Affairs to attend the BRICS Foreign Ministers’ Summit in Russia. Analysts say Russia is likely to get more out of the visit than Vietnam, and Hanoi may even suffer reputational damage by hosting Putin following his trip to North Korea. “If no substantive deals are made, the visit will mainly be symbolic and a means for Putin and Russia to show the world that Western sanctions against Russia are not working,” said Le.

Persons: Vladimir Putin, Kim Jong, Putin, Nguyen Phu Trong, Lam, Minh, Yury Ushakov, Xi Jinping, Joe Biden, ”, Le Hong Hiep, – Yusof, Le, ” Putin, Xi, –, John Kirby, Anwar Ibrahim Organizations: CNN, West, US, Reuters, Communist Party General, Vietnam’s, Vietnam News Agency, ” TASS, TASS, ”, Vietnam Studies, International Criminal Court, ICC, United Arab, Foreign Ministry, Foreign Affairs, ’ Summit, Analysts, Putin Locations: Hanoi, North Korea, Ukraine, Vietnam, Moscow, United States, China, Russia, Pyongyang, Russian, Soviet, India, US, South China, Switzerland, Beijing, Kazan, Iran, Saudi Arabia, United Arab Emirates, Ethiopia, Egypt, Malaysia, BRICS, “

☆ Hundreds died during this year’s Hajj pilgrimage in Saudi Arabia amid intense heat, officials say
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +5 min

MECCA, Saudi Arabia (AP) — Hundreds of people died during this year's Hajj pilgrimage in Saudi Arabia as the faithful faced intense high temperatures at Islamic holy sites in the desert kingdom, officials said Wednesday as people tried to claim their loved ones' bodies. Saudi Arabia has not commented on the death toll amid the heat during the pilgrimage, required of every able Muslim once in their life, nor offered any causes for those who died. Already, several countries have said some of their pilgrims died because of the heat that swept across the holy sites at Mecca, including Jordan and Tunisia. More than 1.83 million Muslims performed the Hajj in 2024, including more than 1.6 million pilgrims from 22 countries, and around 222,000 Saudi citizens and residents, according to the Saudi Hajj authorities. Saudi Arabia has never acknowledged the full toll of the stampede.

Persons: Al Saud, King Salman Organizations: Associated Press, Public Health, Saudi National Center for Meteorology, Massachusetts Institute of Technology Locations: Mecca, MECCA, Saudi Arabia, Al, Muaisem, Jordan, Tunisia, Mina, Saudi, Algeria, Egypt, India, Medina . Saudi Arabia, Islam, hajj

☆ USA loses to South Africa in opening game of second round of T20 Cricket World Cup as historic run continues
▼ + stars: | 2024-06-19 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —The USA lost to South Africa in their opening game of the second round of the men’s T20 Cricket World Cup on Wednesday as its historic run at the tournament continued. Having elected to bowl first, the USA were pegged back by some aggressive batting from South Africa, with the Proteas finishing their 20 overs on 194 runs. New stepsThe USA have been one of the talking points of the T20 World Cup so far, thanks to its shock victory over Pakistan and close defeat by India. Steven Taylor bats against South Africa. And they were never able to recover with South Africa eventually able to round out an 18-run victory.

Persons: St, Quinton de Kock, de, Kock, Harmeet Singh, David Miller, Aiden Markram, Saurabh Netravalkar, Heinrich Klaasen, Tristan Stubbs, Steven Taylor, Taylor, Rabada, Nitish Kumar, Stubbs, Jan Kruger, Aaron Jones, Keshav Maharaj, Corey Anderson, Anrich Nortje, Andries Gous Organizations: CNN, USA, West, Africa’s, South Africa, South, ICC, New Zealand Locations: South Africa, USA, West Indies, England, Antigua, Barbados, St, Lucia, Vincent ., Pakistan, India, de Kock, South Africa’s

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