New Delhi: The burden of adjustment in an imbalanced, conflict-ridden world should not fall disproportionately on countries in the Global South that don’t drive these imbalances, finance minister Nirmala Sitharaman said on Thursday.

India, like many developing economies, “remains largely peripheral to both the origination and propagation of global imbalances; yet, we continue to face their spill-over effects”, the minister said.

Sitharaman made the statements while representing India at a virtual meeting on the Global Convergence for Growth Summit, presided over by French President Emmanuel Macron, the finance ministry said in a post on microblogging site X.

“In today’s interconnected world, prosperity and challenges are shared, but the consequences of conflicts and uncertainty fall disproportionately on developing countries and the Global South. The situation demands coordinated global action,” the minister said during her intervention at the summit.

“We must strengthen multilateral cooperation to build resilient economies, accelerate sustainable development and ensure inclusive growth that benefits all,” she added.

The summit was held to bring together leaders of advanced and emerging economies to deliberate on ways to support a balanced and efficient global framework. The senior leadership of all the G7 nations and India, Brazil, China, Kenya, South Korea and the International Monetary Fund participated in the summit.
Making her observations on global imbalances, the minister said: “Not all imbalances are alike, some reflect differences in demographics, development stages, resource endowments, or economic structures.””Our focus should, therefore, remain on excessive and persistent imbalances while recognising that the scale of domestic needs varies significantly across countries,” she said.

Medium-term growth, MDB reforms
India’s growth is projected to remain strong at about 7% over the medium term, the minister said, stressing that the country remains the world’s fastest-expanding major economy.

The country’s growth is primarily led by domestic demand, with a largely market-determined exchange rate, she added.

Sitharaman called for better, bigger, more effective and more representative multilateral development banks (MDBs) that can deliver greater financing to developing countries and emerging economies. Bolstering their financing capacity, operational agility and responsiveness will be critical, she said.

NEW YORK — The Nasdaq Composite Index posted a modest gain on Thursday, rising 22.52 points or 0.09% to close at 25,192.03 as investors digested a steady stream of corporate earnings and weighed ongoing macroeconomic signals in a session marked by selective buying in technology and growth names.

The advance came despite mixed performance across broader indexes, with the Dow Jones Industrial Average and S&P 500 showing limited movement. Technology and communication services stocks provided the primary lift, reflecting continued investor interest in artificial intelligence themes and resilient corporate results even as some profit-taking occurred in overextended names.

Earnings Season Influence

Corporate earnings continued to play a central role in market direction. Several major Nasdaq constituents reported results that met or exceeded expectations, particularly in cloud computing, software and semiconductor segments tied to AI infrastructure. While forward guidance varied, the overall tone remained constructive, supporting sentiment in growth-oriented stocks.

Analysts noted that companies demonstrating clear AI monetization paths and strong enterprise demand attracted buying interest. However, those facing margin pressures or slower growth in traditional segments saw more muted reactions, highlighting increasing selectivity among investors.

AI and Technology Tailwinds

The Nasdaq’s performance continues to be heavily influenced by artificial intelligence investment themes. Hyperscalers and infrastructure providers have reported robust demand for data center capacity, benefiting related stocks within the index. This secular trend has provided a floor for technology valuations despite periodic volatility around interest rate expectations.

Cloud service providers and semiconductor names with AI exposure led gains, while more mature software companies offered stability. The session reflected ongoing rotation within the sector, with investors favoring companies showing tangible returns on AI spending over those with longer monetization timelines.

Macroeconomic and Policy Backdrop

Persistent inflation concerns remain a key market variable. The latest Consumer Price Index data showed headline inflation at 4.2% year-over-year in May, driven largely by energy costs. Core measures stayed closer to the Federal Reserve’s target, giving policymakers some flexibility but keeping expectations for near-term rate cuts subdued.

The Federal Reserve’s upcoming meeting will be closely watched, with markets pricing in a high probability of rates remaining unchanged. Any signals of patience or data-dependent language could support risk assets, particularly growth stocks sensitive to borrowing costs.

Geopolitical developments, including ongoing tensions in the Middle East, added another layer of caution but did not derail the session’s modest gains. Energy prices stabilized, providing limited spillover into broader market sentiment.

Sector Rotation and Market Breadth

The day’s trading showed improving breadth, with advancing issues outnumbering decliners on the Nasdaq. While mega-cap technology names contributed to the index gain, mid-cap and smaller growth stocks also participated selectively, suggesting some broadening of participation beyond the largest names.

Defensive sectors offered relative stability, while cyclical areas such as consumer discretionary showed mixed results depending on individual earnings outcomes. The overall tone remained one of cautious optimism rather than outright bullishness.

Technical and Sentiment Indicators

The Nasdaq remains well above key support levels but continues to encounter resistance near recent highs. Technical indicators suggest the index is in a consolidation phase within a longer-term uptrend. Options activity reflected measured hedging, with implied volatility remaining elevated but not at panic levels.

Investor sentiment has improved modestly from recent lows, supported by corporate earnings resilience. However, many participants remain wary of potential surprises in upcoming economic data and the sustainability of current valuations in growth sectors.

International and Currency Factors

Global markets showed mixed performance, with European indexes posting modest gains and Asian markets closing with varied results. The U.S. dollar traded in a relatively stable range, reflecting balanced risk perceptions across major economies.

Commodity prices, particularly in energy and metals, influenced related sectors but had limited direct impact on the Nasdaq’s technology-heavy composition. Currency movements affected multinational earnings outlooks for companies with significant international exposure.

Analyst and Strategist Views

Wall Street strategists maintain a generally constructive longer-term outlook for equities, citing productivity gains from AI adoption and resilient corporate balance sheets. Near-term volatility around data releases and policy decisions is expected to continue, however.

Technology analysts highlight the importance of execution on AI initiatives and margin management. Companies demonstrating clear paths to profitable growth in this area are likely to maintain investor favor, while those facing increased competition or execution challenges may see pressure.

Investment Implications

For investors, the current environment rewards selectivity within the technology sector. Focus on companies with strong competitive moats, visible revenue pipelines and prudent capital allocation is recommended. Diversification across growth and defensive areas can help manage volatility.

Longer-term investors may view periodic pullbacks as opportunities to add to high-quality names, while shorter-term traders monitor technical levels and upcoming catalysts closely. Risk management remains essential given the potential for sharp moves around key events.

Broader Market Perspective

The Nasdaq’s modest advance reflects a market attempting to balance optimism around technological innovation with realism about macroeconomic challenges. Corporate America’s ability to deliver earnings growth despite higher costs has provided support, but sustained progress will depend on the trajectory of inflation and consumer spending.

As the second half of 2026 unfolds, focus will remain on the interplay between AI investment cycles, monetary policy decisions and global economic developments. The technology sector’s performance will continue influencing broader market sentiment given its significant index weighting.

The session’s trading activity underscores the market’s capacity to absorb information and find buying opportunities amid a complex backdrop. Investors will remain attentive to both risks and opportunities as earnings season progresses and policy clarity emerges.

The Nasdaq’s resilience near current levels suggests underlying confidence in technology fundamentals despite periodic volatility. Market participants will watch closely for confirmation of trends or potential reversals as additional data and corporate updates arrive in the days and weeks ahead.

New Delhi: The World Bank raised India’s FY27 growth forecast to 6.6% from 6.5% estimated in January, citing reduced US tariffs and the anticipated benefits of upcoming free trade agreements. These factors are expected to cushion the impact of weaker external demand stemming from the ongoing Middle East conflict.

Economic growth, however, is projected to moderate from 7.7% in FY26 as higher energy prices and rising input costs weigh on private demand. According to the latest Global Economic Prospects (GEP) report of the World Bank, reductions in Goods and Services Tax (GST) rates are likely to provide some support to consumer demand.

India is projected to remain among the world’s fastest-growing economies.

Gross domestic product (GDP) growth is forecast to rise to 7.2% in FY28 and 7% in FY29.

“Growth is then anticipated to rebound over the next two fiscal years, driven by firming domestic demand and a pickup in export growth,” the report said.

The World Bank expects trade agreements and ongoing structural reforms aimed at improving the business environment to bolster foreign direct investment inflows over 2027-28. The closure of the Strait of Hormuz has significantly disrupted global energy markets.

Assuming the worst supply disruptions ease by July, the World Bank projects Brent crude oil prices to average $94 per barrel in 2026, about 36% higher than 2025 levels.

The report noted that to ease inflationary pressures arising from higher energy costs and shortages of agricultural inputs, particularly fertilizers, India has implemented several measures, including cuts in fuel taxes.

NEW YORK — Ubisoft’s popular tactical shooter Rainbow Six Siege faced connectivity issues for hundreds of players on Thursday, with reports of server problems and login difficulties disrupting gameplay across multiple platforms.

Service monitoring sites and social media saw a spike in complaints, with users unable to join matches, experiencing lag or failing to launch the game entirely. The issues appeared to affect a notable number of players, though Ubisoft had not issued a formal statement on the scope or cause as of midday.

Downdetector and similar tracking platforms recorded elevated reports of server connection problems, game launch failures and in-game disruptions. The timing coincided with ongoing seasonal content and regular player activity, amplifying frustration among the dedicated community.

Player Reports and Impact

Players took to social media and forums to share experiences, with many expressing disappointment over interrupted ranked matches and lost progress. The tactical nature of Rainbow Six Siege makes stable connections critical, and even brief outages can significantly affect competitive play and enjoyment.

Some users reported the problems persisting for several hours, while others noted intermittent access. The global player base, spanning North America, Europe and other regions, appeared to encounter varying degrees of disruption, suggesting a widespread but not universal issue.

Ubisoft’s official service status page showed no major outages at the time of peak complaints, but community feedback indicated real-world problems for a significant subset of users. This discrepancy between official status and player experience is common during partial or rolling disruptions.

Ubisoft Response and Technical Context

Ubisoft has a track record of addressing server issues promptly, often through maintenance windows or hotfixes. The company typically communicates via its Rainbow Six Siege social channels and status dashboard when problems arise.

Rainbow Six Siege, now in its 11th year, continues to maintain a large and active player base thanks to regular seasonal updates, operator reworks and competitive esports scene. The game’s demanding server requirements for precise hit registration and tactical gameplay make it particularly sensitive to connectivity fluctuations.

Possible causes for the outage include high concurrent player loads during peak hours, backend maintenance, or unexpected technical glitches. Ubisoft has not confirmed the root cause, but past incidents have often been resolved through capacity adjustments or software patches.

Community and Competitive Impact

The Rainbow Six Siege community is known for its passion and engagement. Outages often spark lively discussions on Reddit, X and Discord, with players sharing workarounds and venting frustrations. Competitive players and streamers were among those affected, potentially disrupting scheduled matches and content creation.

The game’s ranked mode, in particular, relies on stable connections for fair matchmaking and accurate skill rating. Disruptions can lead to frustration and temporary drops in player satisfaction, though Ubisoft has historically worked to restore service quickly and compensate affected users when appropriate.

Broader Context for Online Gaming

Online multiplayer games frequently experience outages as player bases grow and infrastructure scales. Major titles from Ubisoft, EA, Activision and others have faced similar issues, highlighting the challenges of maintaining global server stability for millions of concurrent users.

The rise of live-service models has increased reliance on always-on connectivity, making reliable servers essential for player retention. Companies invest heavily in infrastructure, but unexpected spikes in demand or technical anomalies can still cause disruptions.

Rainbow Six Siege’s longevity and dedicated fanbase demonstrate the strength of its core gameplay loop, but consistent service quality remains key to sustaining long-term engagement. Ubisoft’s ongoing seasonal content strategy helps keep the game fresh, but technical reliability is equally important.

What Players Can Do

Affected users are advised to check Ubisoft’s official status page, restart their devices and routers, and verify internet connections. Clearing cache, updating the game client or trying different platforms (PC, console) can sometimes resolve individual issues.

For persistent problems, contacting Ubisoft support or monitoring community forums for official updates is recommended. Players should avoid using third-party tools or workarounds that violate terms of service, as these can risk account penalties.

Looking Ahead

As Ubisoft works to resolve the issues, players can expect communication through official channels. Historical patterns suggest most outages are resolved within a few hours, though complex problems can take longer.

The incident serves as a reminder of the infrastructure demands of modern online gaming. For Rainbow Six Siege, maintaining a stable experience is crucial to its continued success as one of Ubisoft’s flagship titles.

Fans remain hopeful for a quick resolution so they can return to the game’s intense tactical gameplay. The community’s resilience and passion for the title have helped it thrive for over a decade, and swift action from Ubisoft will be key to preserving goodwill during this disruption.

The Rainbow Six Siege outage on June 11 affected hundreds of players globally, highlighting the challenges of operating large-scale multiplayer services. As the company addresses the technical issues, players are encouraged to stay informed through official sources and prepare for potential compensation or extended maintenance if needed. The game’s dedicated fanbase will be watching closely for a return to normal operations.