Connect with us
DAPA Banner
DAPA Coin
DAPA
COIN PAYMENT ASSET
PRIVACY · BLOCKDAG · HOMOMORPHIC ENCRYPTION · RUST
ElGamal Encrypted MINE DAPA
🚫 GENESIS SOLD OUT
DAPAPAY COMING

Business

NSE IPO to value exchange at Rs 5 lakh crore? 2 scenarios every investor should watch

Published

on

NSE IPO to value exchange at Rs 5 lakh crore? 2 scenarios every investor should watch
NSE’s proposed IPO is poised to value India’s largest stock exchange at around Rs 5 lakh crore, crystallising a behemoth franchise into a listed play on the country’s capital-market deepening story while throwing up two critical scenarios that investors must track closely.

National Stock Exchange of India Ltd (NSE) has filed its DRHP for an IPO structured entirely as an Offer for Sale (OFS), with up to 148.9 million equity shares, around 6% of outstanding equity, being offloaded by existing shareholders. Key sellers include State Bank of India, MS Strategic (Mauritius), Canada Pension Plan Investment Board, Aranda Investments (Mauritius) and Bank of Baroda, signalling a broad-based monetisation by marquee financial institutions.

Centrum Institutional Research characterises NSE as a behemoth, underlining its dominant position with about 93% market share in cash equities, nearly 100% in equity futures and roughly 72% in equity index options turnover in FY26, alongside near-monopolistic shares in currency derivatives and a commanding presence in corporate bonds clearing.

NSE valuation math

Assuming a market capitalisation of Rs 5 trillion (lakh crore), the implied valuation works out to around 36x FY28E EPS under the base case and about 35x under the bull case, reflecting a rich multiple for a high-margin, high-ROE exchange franchise.In the second scenario of a higher market capitalisation of Rs 5.5 trillion, the implied multiples rise to nearly 40x and 38x FY28E EPS under the base and bull cases respectively, underscoring how sensitive the stock would be to growth delivery and regulatory outcomes.

Advertisement

Centrum notes that revenue from operations grew at a strong 24% CAGR over FY21–FY26, with EBITDA and net profit rising at 23% CAGR and margins consistently above 70% and ROE above 30%, even after a softer FY26. “We expect earnings momentum to recover from FY27 onwards, with net profit projected to grow at ~16% CAGR over FY26–FY28E,” the report states, arguing that structural drivers remain intact despite cyclical and regulatory headwinds.
Under the first scenario, the market effectively validates NSE’s Rs 5 lakh crore valuation as a justified structural premium on India’s financialisation story and the exchange’s entrenched market leadership. NSE currently services over 129 million unique registered investors, enables trading across 3,228 securities and instruments, and, along with its clearing arm NCL, captures over 85% of corporate bond trading value settled via clearing corporations in India.
The DRHP-backed projections assume that revenue growth normalises after the FY26 blip, with operating revenue expected to rise from Rs 166 billion in FY26 to Rs 218 billion by FY28, while EBITDA recovers from Rs 133 billion to about Rs 192 billion and ROE moves back towards the high-30s. In this construct, the IPO price and subsequent listing sustain elevated multiples on the back of:
Robust transaction-led income, which contributed nearly 80% of operating revenue in FY21–FY26 and remains the primary earnings engine.

Continued cash-market deepening, with turnover having grown six-fold from Rs 50 trillion in FY16 to Rs 280 trillion in FY26, aided by rising investor penetration and higher market-cap-to-GDP ratios.

Also Read |
NSE IPO: Nithin Kamath explains why India has few businesses like this ‘cash generating machine’

Centrum highlights NSE’s innovation and infrastructure edge—pioneering fully automated trading (NEAT), leading on T+1 and T+0 settlements, and running an integrated risk architecture anchored by a Core Settlement Guarantee Fund of about Rs 130.8 billion—as critical to sustaining this premium franchise.

In such a benign scenario, any valuation at or above Rs 5 lakh crore is seen as a structural play, where investors effectively pay up for a compounding cash-generative asset tied to India’s rising household incomes, the shift from physical to financial assets, growing domestic institutional flows and steady FPI participation.

The second scenario the report flags is less benign: here, higher implied multiples at Rs 5–5.5 trillion market cap collide with regulatory tightening and volume moderation, forcing the market to reassess NSE’s valuation comfort zone. Nearly 80% of NSE’s revenues are linked to trading-related activities, with options alone contributing around 60% of operating revenue and futures another 9%, making the franchise acutely sensitive to derivatives volumes.

Advertisement

A large part of this activity is driven by proprietary traders—who account for about 50.7% of equity options premium turnover—and by algorithmic trading, which contributes roughly 55% of cash market volumes and 66% of equity derivatives trades on NSE. “Any regulatory or tax changes that reduce the attractiveness of derivatives trading or constrain algorithmic and proprietary trading activity could adversely impact market volumes,” Centrum cautions, pointing to STT hikes and tighter RBI exposure norms as key near-term swing factors.

The report notes that the Union Budget FY27 has raised STT on equity futures sales from 0.02% to 0.05% of contract value, increased STT on options selling from 0.10% to 0.15% of premium value, and pushed STT on option exercise from 0.125% to 0.15% of intrinsic value, explicitly aimed at curbing excessive short-term speculation. In parallel, revised RBI norms effective July 1, 2026, are expected to increase capital consumption and funding costs for banks and intermediaries exposed to capital markets, potentially dampening leverage and consequently trading volumes, especially in derivatives.

Also Read | NSE IPO: 10 key things investors need to know about India’s largest IPO in history

Against this backdrop, Centrum builds in a slower 9–11% CAGR for equity options premium turnover between FY26 and FY30, even as other segments like currency and commodity options are projected to grow at 20–25% CAGR, and corporate bonds and exchange-traded currency/commodity futures at mid- to high-teens. If these regulatory headwinds weigh more heavily than anticipated on derivatives volumes, the market may struggle to sustain a Rs 5 lakh crore-plus valuation, especially given NSE’s concentrated revenue dependence on top trading members, where the top five and top ten clients contribute around 32% and 47% of revenue respectively.

Advertisement

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

TMZ Disputes Claims That a Ransom Note Confirmed Her Death as New Letter Surfaces

Published

on

Nancy Guthrie
Nancy Guthrie
Nancy Guthrie

A new letter obtained by TMZ has added fresh detail to the months-long investigation into the disappearance of Nancy Guthrie, even as the outlet continues pushing back on separate reports claiming a different communication confirmed the 84-year-old’s death.

The latest message comes from the same individual who has been periodically emailing TMZ since shortly after Guthrie went missing from her Tucson, Arizona, home on February 1. According to the outlet, the sender now claims to possess video evidence involving one of the alleged kidnappers and Guthrie herself, stored on a hidden phone he is offering to unlock in exchange for cryptocurrency.

What the newest letter claims

TMZ reported that the sender claims to have a video showing the “main guy” and Nancy Guthrie together on the night of her disappearance, while maintaining his earlier assertion that two people were involved in the kidnapping. According to the letter, he wrote: “I have a phone stashed in a secure location guaranteeing both the information it stores and the safety of the phone. What it contains is my definition of delivering them on a silver platter, a short video of the main guy with Nancy, the day that was probably her last, pictures of both involved, names, addresses, and age.”

In exchange for unlocking the device, the sender is asking for one Bitcoin, sent to a newly provided address. TMZ said it has requested a screenshot of the alleged footage to verify the claim’s authenticity before any further engagement, and that it has forwarded the new correspondence to the FBI.

Advertisement

The letter also addressed an unrelated lead in the case, with the sender distancing himself from a tip phoned in roughly three weeks ago suggesting Guthrie’s remains were buried across the border in Mexico. “I am not the idiot who recently called in a tip about her burial site in Mexico,” the sender wrote, according to TMZ.

A possible link to the doorbell footage

Investigators have separately recovered video from Guthrie’s home security camera showing a masked figure on her porch hours before she disappeared, a person who has come to be known in coverage of the case as “porch guy.” TMZ’s reporting noted that some following the case believe this individual may be the same person the anonymous emailer refers to as the “main guy” in his letters, though that connection has not been officially confirmed by investigators.

TMZ said it has authenticated the new letter as coming from the same source behind previous correspondence by comparing Bitcoin addresses used in each communication.

Advertisement

A separate, disputed claim about Guthrie’s death

The new letter arrives amid an unresolved disagreement between news outlets over the contents of a different, earlier communication in the case — one that has generated confusion about whether investigators or media organizations possess direct evidence that Guthrie has died.

That dispute traces back to a report from Air Mail, which cited sources close to the investigation describing a Feb. 6 email sent to TMZ as containing what was characterized as a “bizarre, rambling apology” for Guthrie’s accidental death, along with an offer to return her body in exchange for payment. TMZ has firmly disputed that characterization. The outlet stated that the ransom note it received “did not say that Guthrie was dead or contain an apology.”

TMZ has offered its own explanation for where the death-related reporting may have originated, pointing to a separate, ongoing email exchange distinct from the verified ransom notes. According to TMZ, that separate correspondence comes from someone who “claimed to know who kidnapped Nancy and where she was” but “denied being the abductor himself.” TMZ has said this individual indicated early on that “time is of the essence,” before later writing that “time is no longer of the essence” — a shift the outlet has interpreted as the sender suggesting Guthrie was no longer alive, without explicitly stating so or apologizing for it.

Advertisement

A separate report from NewsNation, citing sources close to the investigation, added another layer to the dispute, indicating that a ransom note in the case said Guthrie had died and was “buried with nature now,” with her death described as unintentional, though without a direct apology — a characterization that partially overlaps with, but does not fully match, either TMZ’s or Air Mail’s account.

TMZ says the FBI has gone quiet

TMZ has maintained that it alerted federal investigators early on about the emails it considered credible. The outlet said it told the FBI roughly a month ago that it believed the person requesting Bitcoin in exchange for information was likely genuine, reasoning that a scammer attempting to maintain leverage would be unlikely to undercut their own urgency by suggesting time had run out. TMZ has also said it offered to pay the requested Bitcoin itself in order to trace where the payment led, in coordination with the FBI, but said the bureau has not followed up despite repeated attempts to reach them.

Where the investigation stands

Advertisement

Nancy Guthrie disappeared from her Tucson home on February 1, and investigators believe she was taken against her will. Authorities recovered footage from her doorbell camera showing a masked individual near her property in the hours before she vanished, and forensic evidence collected from the scene reportedly showed signs of her blood, though no suspects have been publicly named in the case nearly five months later.

Guthrie’s daughter, “Today” show co-anchor Savannah Guthrie, and her family continue to offer a $1 million reward for information leading to her mother’s safe return, with the FBI separately offering an additional reward in connection with the case. The FBI and the Pima County Sheriff’s Department have said the investigation remains active, even as the flow of unverified tips, conflicting media reports and anonymous correspondence continues to complicate public understanding of where the case truly stands.

Anyone with information related to Nancy Guthrie’s disappearance is urged to contact the FBI at 1-800-225-5324.

Advertisement
Continue Reading

Business

National Bank of Canada: Upward Stubbornness Highlights Overpricing Risk Some More (NTIOF)

Published

on

National Bank of Canada: Upward Stubbornness Highlights Overpricing Risk Some More (NTIOF)

This article was written by

I have been working in the logistics sector for almost two decades. I have been into stock investing and macroeconomic analysis for almost a decade. Currently, I focus on ASEAN and NYSE/NASDAQ Stocks, particularly in banks, telco, logistics, and hotels. Since 2014, I have been trading on the PH stock market. I focus on banking, telco, and retail sectors. A colleague encouraged me to engage in the stock market as part of my portfolio diversification instead of putting all my savings in banks and properties. That was also the year when insurance companies became very popular in the PH. Initially, I invested in popular blue-chip companies. Now, I have investments across different industries and market cap sizes. There are stocks I hold for my retirement, while others are purely for trading profits. In 2020, I also entered the US Market. It was about a year after I discovered Seeking Alpha. Originally, I was using the trading account of NY CA-based cousin. Somehow, I acted like his personal broker. That made me more aware of the US market before deciding to open my own account. I decided to write for Seeking Alpha to share and gain more knowledge since I have been trading on the US market for only four years. Like in the ASEAN market, I have holdings in US banks, hotels, shipping, and logistics companies. I discovered it in 2018. Since then, I have been using the analyses here to compare them to the ones I’m doing in the PH Market.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

Barnes & Noble: Buy On Strong Preliminary FY 2026 Results And Decent Outlook (NYSE:BNED)

Published

on

Barnes & Noble Education: Mixed Quarter But Too Cheap To Ignore - Buy

This article was written by

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for PricewaterhouseCoopers before becoming a daytrader almost 20 years ago. During this time, I managed to successfully maneuver the burst of the dotcom bubble and the aftermath of the world trade center attacks as well as the subprime crisis.Despite not being a native speaker, I always try to deliver high quality research to followers and the entire Seeking Alpha community.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

Free summer holiday sport sessions offered around Sheffield

Published

on

A close up of a football with a young player's foot on it. Other children are in the background standing on the fenced green play area.

Free sport sessions are set to be offered in Sheffield to “get families active” during the school summer holidays.

More than a dozen parks and green spaces in the city will host the two-hour sessions, including Firth Park, Greenhill Park and Gleadless Common.

The afternoon and evening slots will offer football, rounders and other multi-sport sessions, with family-friendly games for all ages and abilities also promised.

Everyone Active – which has a contract with Sheffield City Council to run leisure, health and wellbeing facilities – will lead the events, with free food and drink also on offer.

Advertisement

Lorenzo Clark, from Everyone Active, said: “The scheme provides activities for those who might not necessarily be able to go away on holiday because of affordability.

“We put expert coaches in place so people can try new things as well as activities they will have done before.”

Everyone Active is contracted to run facilities including the English Institute of Sport, Ponds Forge International Sports Centre and Ice Sheffield.

The summer activity sessions run from 20 July to 28 August, with booking in advance advised., external

Advertisement

Councillor Brian Holmshaw, chair of the communities, parks and leisure policy committee at the council, said: “The school summer holidays are always an exciting time for children right across Sheffield, but it can give parents a challenge of how to entertain their kids during the daytime.

“These activities are perfect for getting families out and about across the city, getting them active and having lots of fun, hopefully in the sun.”

Continue Reading

Business

Forget Bonds: Build A Rock-Solid 6.5% Yield From Investment Grade Preferreds

Published

on

Real Estate Income Is The Wisest Choice In Uncertain Times: NNN (NYSE:NNN)

This article was written by

Austin Rogers is a REIT specialist with a professional background in commercial real estate. He writes about high-quality dividend growth stocks with the goal of generating the safest growing passive income stream possible. Since his ideal holding period is “lifelong,” his focus is on portfolio income growth rather than total returns. Austin is a contributing author for the investing group High Yield Landlord, one of the largest real estate investment communities on Seeking Alpha, with thousands of members. It offers exclusive research on the global REIT sector, multiple real money portfolios, an active chat room, and direct access to the analysts. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of PFFA, AMH, AMH.PR.G, CFR, CFR.PR.B, REGCO, REXR.PR.C, KIM.PR.L, DLR.PR.L either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

Recent Selloff Could Provide Appealing Entry Point For Pan American Silver (NYSE:PAAS)

Published

on

Market Brief: Silver's Physical Tightness Is A Bullish Signal

This article was written by

I’m Jason Ditz and I have 20 years of experience in foreign policy research. My work has appeared in Forbes, Toronto Star, Minneapolis Star-Tribune, Providence Journal, Washington Times and the Detroit Free Press, as well as American Conservative Magazine and the Quincy Institute for Responsible Statecraft. I have been writing investment analysis, with a focus on deep-discount value plays, for over 25 years. I I got my start analyzing securities for a stock-picking contest on the now defunct StockJungle in college. After winning one of the top prizes for quarterly performance, I was hired to write a monthly article about micro-cap stocks, again with a value perspective. After StockJungle went belly-up, with its focus on momentum investing, I started to take a close interest in the contrarian investment philosophy of David Dreman. I began writing for Motley Fool and ultimately Seeking Alpha. My goal is to find underappreciated companies with a focus on returning value to investors.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in PAAS over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

H2 2026 Playbook: The Midyear Reset And What Comes Next (NYSEARCA:RSP)

Published

on

H2 2026 Playbook: The Midyear Reset And What Comes Next (NYSEARCA:RSP)

This article was written by

I’m a long-term investor focused on U.S. and European equities, with a dual emphasis on undervalued growth stocks and high-quality dividend growers. Through years of experience, I’ve learned that sustained profitability—evident in strong margins, stable and expanding free cash flow, and high returns on invested capital—is a more reliable driver of returns than valuation alone. I manage one of my portfolios publicly on eToro, where I qualified as a Popular Investor, allowing others to copy my real-time investment decisions. My background spans Economics, Classical Philology, Philosophy and Theology. This interdisciplinary foundation sharpens both my quantitative analysis and my ability to interpret market narratives through a broader, long-term lens. I started investing when I became a father. By managing wisely what I received and earn, I aim to ensure for me and my children that we don’t have so much that we don’t have to do anything, but that we have enough assets to be free to do what we want. The goal is not to free myself from work, but to make sure I can work in the place and in a way where I can fully express myself.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RSP, IWM, MU, MSFT, AMZN, GOOG, XLU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

(VIDEO) Venezuela Earthquake Death Toll Rises to 920 as Rescue Teams Race Against the Closing Survival Window

Published

on

Venezuela Earthquake Death Toll Rises to 920 as Rescue Teams

CARACAS — The death toll from a pair of powerful earthquakes that struck Venezuela this week has climbed to at least 920, with more than 3,300 people injured and dozens still believed trapped beneath collapsed buildings, as international rescue teams worked through the weekend in what officials describe as a narrowing window to find survivors.

The disaster, among the deadliest in the country’s modern history, has overwhelmed a healthcare system already strained by years of economic crisis and left thousands of families searching for missing loved ones in a country with some of the most restricted media access in the world.

Twin quakes strike without warning

Advertisement

The earthquakes struck Wednesday evening, just 39 seconds apart. A magnitude 7.2 foreshock hit at 6:04 p.m. local time near San Felipe in Yaracuy state, followed almost immediately by a magnitude 7.5 mainshock centered near the town of Morón on Venezuela’s Caribbean coast, roughly 100 miles west of Caracas. The U.S. Geological Survey identified the stronger quake as the most powerful to strike Venezuela since 1900, when a magnitude 7.7 earthquake hit the country.

USGS seismologist Paul Earle told NPR that earthquakes striking in such close succession is highly unusual. “This doesn’t happen very often,” Earle said. “When they’re right together, it’s hard to understand what would happen.” Earle added that USGS modeling estimated a 40% chance that a magnitude 6 or larger aftershock could strike the same region within a week, along with what he called an “almost certainty” of at least one quake measuring magnitude 5 or higher. At least 138 aftershocks have been recorded since the initial quakes, according to Venezuelan officials, complicating rescue efforts in already unstable structures.

A rising toll and a critical window closing

Advertisement

As of Saturday morning, Jorge Rodríguez, president of Venezuela’s National Assembly, said the death toll stood at 920, with more than 3,300 injured and at least 172 people still believed trapped under rubble. The figure has climbed steadily since the quakes struck, rising from an initial count of 188 dead on Thursday to 589 by Friday morning and then surging past 900 by Saturday as search teams reached previously inaccessible areas.

The United Nations Office for the Coordination of Humanitarian Affairs has stressed the urgency of the search effort. “After an earthquake, the first 72 hours are critical to saving lives,” the agency said Friday, adding that in the search for survivors, “every second matters.” The U.N. agency said it had organized at least 17 international search teams, comprising more than 1,600 personnel and over 100 search dogs, working alongside Venezuelan responders.

La Guaira bears the brunt

The coastal state of La Guaira, just north of Caracas, has suffered the most severe damage of any region in the country. Acting President Delcy Rodríguez described the devastation in stark terms. “We can say that the state of La Guaira is experiencing a genuine tragedy and has become a disaster zone,” she said. A United Nations humanitarian agency reported that more than 100 buildings collapsed in La Guaira alone, with satellite imagery showing dozens of partially or fully flattened structures in the town of Caraballeda.

Advertisement

With nowhere else to go, many displaced residents have taken to sleeping outdoors. In the city of Catia La Mar, families have set up temporary shelters on a baseball field, while others have told reporters they are too afraid to return to damaged buildings that remain standing but structurally compromised.

Overwhelmed hospitals and a struggling response

Venezuela’s healthcare system, already weakened by years of underfunding, has buckled under the surge of injured patients. Rodríguez said 13 hospitals across the country sustained damage in the earthquakes, and at least two hospitals — one in Caracas and one in La Guaira — have collapsed entirely, according to Caracas pediatrician Dr. Huniades Urbina-Medina, who told CNN that surviving facilities are now facing shortages of basic supplies including water, antibiotics, IV solution and anesthetics.

Frustration has grown among residents over what some describe as a slow and under-resourced official response. In some coastal communities, residents have called for civilian volunteers to assist with debris removal using “pickaxes and shovels” rather than wait for heavy machinery that has yet to arrive in critical areas.

Advertisement

An international rescue effort takes shape

Foreign assistance has poured into Venezuela in the days since the quakes struck. Rescue convoys from Mexico, El Salvador and the Dominican Republic arrived by Friday, joining teams already on the ground, including elite search-and-rescue units from Fairfax County, Virginia, and Los Angeles County in the United States. A Miami-Dade Fire Rescue team of 80 personnel and six canine units also deployed to the region. Salvadoran rescuers were among those credited with locating a 15-year-old girl trapped on the ninth floor of a collapsed building in Catia La Mar.

U.S. Secretary of State Marco Rubio said on social media that Washington was “immediately deploying search and rescue teams, medical resources, and humanitarian assistance to Venezuela.” Acting President Rodríguez said she had received a call from President Donald Trump and Rubio, who she said “reaffirmed the United States Government’s support during this difficult time for Venezuela.”

A communications blackout complicates the crisis

Advertisement

The disaster has unfolded against the backdrop of Venezuela’s tightly controlled information environment. According to monitoring group VE sin Filtro, more than 200 websites in the country remain blocked, including news outlets, social media platforms and tools used to circumvent censorship. The United Nations’ Independent International Fact-Finding Mission on Venezuela has urged authorities to “fully restore access to social networks and all media outlets,” warning that timely information will be “vital for the protection of the lives, safety, and well-being of the population.”

A crowdsourced website created to track missing persons, Desaparecidos Terremoto Venezuela, has logged more than 62,000 names since the earthquakes struck, with more than 52,000 of those individuals still listed as unaccounted for as of Friday. Those figures have not been independently confirmed by Venezuelan officials.

A nation already in crisis

The earthquakes struck a country already grappling with severe political and economic turmoil, compounding what was already one of the most difficult periods in Venezuela’s recent history. The timing of the disaster — coinciding with a national holiday when many residents were at home with their families rather than at work or school — may have limited casualties in commercial and institutional buildings, even as it left densely populated residential areas particularly vulnerable.

Advertisement

As search efforts continue into the weekend, officials have acknowledged that the death toll is likely to keep rising. With hundreds still missing and rescue teams racing against deteriorating conditions in the rubble, the full scale of the tragedy may not become clear for days or weeks to come.

Continue Reading

Business

Summer box office could lead to first $10 billion year since pandemic

Published

on

Summer box office could lead to first $10 billion year since pandemic
The summer box office has had a surprisingly strong start

Hollywood is having its best summer since before the pandemic, and that hot streak is putting the annual box office on pace to cross $10 billion for the first time in seven years.

The season, which runs from the first weekend in May through Labor Day, has tallied $1.8 billion so far through Sunday. That’s down less than 2% from 2019 levels, or just about a $30 million lag. Industry analysts keep a close eye on this period of the year because it typically accounts for about 40% of the total annual domestic box office.

“The summer box office is incredibly important,” said Paul Dergarabedian, head of marketplace trends at movie data company Rentrak. “It’s vitally important in terms of what the overall health of the industry looks like and what that portends for the entire year.”

What sets this summer apart is that it didn’t kick off with a blockbuster action film or superhero team-up. Instead, the first major hit of the season came with the release of Disney’s “The Devil Wears Prada 2,” followed by Universal’s “Obsession” and A24’s “Backrooms,” two low-budget horror films from YouTube creators-turned-filmmakers

Advertisement

It was further fueled by residual ticket sales of Lionsgate’s “Michael,” the Michael Jackson biopic, which debuted in late April.

Together, those four films have contributed nearly $850 million to the domestic summer box office since the start of May, according to data from Rentrak. Notably, that’s about how much Disney and Marvel’s “Avengers: Endgame” had tallied for the 2019 box office during the same period. 

Still from Pixar’s “Toy Story 5.”

Disney

Advertisement

Last week’s release of Disney and Pixar’s “Toy Story 5” delivered another boost, posting a franchise-best opening of $160 million.

Combined, the handful of upside surprises is making for a stronger-than-expected domestic box office and a promising foundation for the second half of the year as the industry chases pre-pandemic levels.

As of Sunday, the 2026 box office has tallied $4.4 billion domestically, about 15% behind the $5.2 billion the 2019 box office had collected during the same time period.

Currently playing in theaters

Contributing to the surprisingly strong ticket sales is movies like “Michael,” “Obsession” and even Amazon MGM’s “Project Hail Mary,” which was released in March, that are holding strong at the box office week after week.

Advertisement

Typically, after opening weekend, a title will see sales drop anywhere from 50% to 70%. But these films were seeing drops of between 20% to 40% each week.

“Obsession” has pulled off an even rarer box office feat as ticket sales actually increased in its second and third weekend in theaters, up 39% and 14%, respectively, according to data from The Numbers.

That success is a sign that films are getting solid word of mouth from audiences and that it’s driving new moviegoers to cinemas.

“It’s just been one after another after another,” said Alex DelVecchio, general manager of Rutgers Cinema in Piscataway, New Jersey. “I always said this whole year was about getting to June 19. Because once you get to June 19 you hit this six weeks in a row. It’s Toy Story, ‘Supergirl,’ Minions, ‘Moana,’ [‘The Odyssey’] and Spider-Man.”

Advertisement

The combined efforts of those six films could boost the summer box office to $4.2 billion, Dergarabedian said. The summer box office has only surpassed $4 billion once since 2019, and that was thanks to the dual efforts of Warner Bros. “Barbie” and Universal’s “Oppenheimer” in 2023, according to Rentrak data.

That threshold would mark a return to normal cadence for the summer box office, which collected more than $4 billion practically every year between 2013 and 2019 before Covid shut down cinemas.

Movie posters for “Barbie” and “Oppenheimer” are pictured outside the Cinemark Somerdale 16 and XD in Somerdale, New Jersey, in 2023.

Hannah Beier | The Washington Post | Getty Images

Advertisement

Universal’s “The Odyssey,” directed by Christopher Nolan, is currently tracking for a $100 million-plus opening weekend and is expected to benefit significantly from premium large format screenings.

Sony’s “Spider-Man: Brand New Day,” which was made in collaboration with Disney’s Marvel Studios, could perform even better, with some analysts predicting between $200 million and $250 million for its opening weekend.

“‘Spider-Man: Brand New Day’ could be the biggest opening weekend of the year,” Dergarabedian said. “And that opens on July 31st. What’s that going to mean for August? Well, a lot, because that’s going to add and contribute a lot of box office to the month. Then that sets up a fall and a holiday period [where] I think we’re not going to see really that much of a slowdown.”

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Advertisement
Continue Reading

Business

AI Boom Risks Driving Up Inflation Outlook

Published

on

Stocks Little Changed After Fed Decision

Heightened competition for memory chips amid increasing investment in artificial intelligence is already showing up in consumer prices, James Bull at RSM UK said in a note.

Both Apple and Microsoft have now issued price hikes, confirming an industry-wide response to supply-chain shortages, Bull said. “The four largest U.S. technology companies are forecast to spend $725 billion on data centers and AI equipment in 2026 alone. That level of demand for memory chips has created a shortage the supply chain cannot keep pace with.”

It is now clear that the costs of building the AI economy is being passed on to consumers and potentially even the inflation outlook, with industry leaders suggesting shortages could last beyond 2028, Bull added.

Continue Reading

Trending

Copyright © 2025