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Perth retail trade growth outperforms nation
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Asia FX muted as Fed, Iran jitters boost dollar; yen steady after BOJ holds

Asia FX muted as Fed, Iran jitters boost dollar; yen steady after BOJ holds
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BorgWarner at Bank of America Summit: Adapting to Market Shifts

BorgWarner at Bank of America Summit: Adapting to Market Shifts
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Steel Dynamics Stock Falls on Disappointing Update Ahead of Earnings
Steel Dynamics Stock Falls on Disappointing Update Ahead of Earnings
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Stock market holiday today for Gudi Padwa 2026: Are NSE & BSE open or closed for Gudi Padwa celebration? Check now
The country’s largest non-agricultural commodity exchange, the Multi Commodity Exchange of India (MCX) will also open at 9 am while the largest agricultural bourse, the National Commodity & Derivatives Exchange (NCDEX) will resume trading at 10 am.
Meanwhile, the currency market will remain shut today.
The equity markets were closed on March 3 for Holi and will be closed on two other occasions in this month. They will be closed on Thursday, March 26 for Shri Ram Navami and on Tuesday, March 31 for Shri Mahavir Jayanti.
Indian benchmark indices ended with sharp gains on Tuesday, recording their third successive positive closing. Action in auto, IT and consumer stocks lifted the mood with strong support from financials. The broader Nifty surged 196.65 points, or 0.83%, to close at 23,777.80, while the 30-share Sensex gained 567.99 points, or 0.83%, to settle at 76,704.13.
The fear index India VIX fell 5.5% in the previous session to settle at 18.72.
2026 holiday list
In the holiday calendar released last year, the exchanges had initially announced 15 trading holidays but later added January 15 as an additional holiday on account of the Mumbai BMC elections. After this, the domestic markets were closed on January 26 on account of a Republic Day.
The next holiday will fall on Friday, April 3 which will be a Good Friday. Markets will also be shut on Ambedkar Jayanti on April 14, Maharashtra Day on May 1 and Bakri Id on May 28.
The second half of the year includes Muharram on June 26, Ganesh Chaturthi on September 14 and Gandhi Jayanti on October 2. Dussehra falls on October 20, followed by Diwali Balipratipada on November 10 and Guru Nanak Jayanti on November 24. The final trading holiday of the year will be Christmas on December 25.
The small surprise in the circular is that there is no mention of holiday for Diwali as it is falling on a weekend (Sunday). The Muhurat Trading will be conducted on Sunday, November 08, 2026 and the timings of Muhurat Trading will be notified subsequently.
The exchanges may alter any of the above holidays, for which a separate circular shall be issued in advance.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Business
US national debt hits historic $39 trillion milestone for first time
Rep. Jodey Arrington, R-Texas, explains how Fed Chair pick Kevin Warsh will restore integrity in the Federal Reserve on The Bottom Line.
The U.S. national debt reached another historic milestone on Wednesday as it surpassed $39 trillion for the first time as the federal government’s persistent budget deficits send the debt soaring higher.
New data from the Treasury Department released on Wednesday showed that the gross national debt reached $39,016,762,910,245.14 as of March 17.
The $39 trillion milestone comes about five months after the national debt reached $38 trillion for the first time in late October 2025, which closely followed the $37 trillion milestone being surpassed just two months earlier in mid-August.
America’s debt has grown rapidly over the last decade as the population ages and federal spending on Social Security and Medicare rises. Another key driver of the surging debt is interest expenses incurred from servicing the debt, which have swelled due to higher interest rates meant to curb inflation as well as the growth in the debt itself.
US DEBT SET TO CRUSH WORLD WAR II RECORD AS ANNUAL DEFICITS EXPLODE TO $3T WITHIN DECADE
Michael A. Peterson, CEO of the nonpartisan Peter G. Peterson Foundation, told FOX Business that the latest national debt milestone is an opportunity for Americans to “recognize this alarming rate of growth and the significant financial burden we are putting on the next generation.”
“At the current growth rate, we will hit a staggering $40 trillion in national debt before this fall’s elections. Borrowing trillion after trillion at this rapid pace with no plan in place is the definition of unsustainable,” he explained.
Peterson noted that interest payments on the debt – the cost of servicing the debt the federal government has incurred – are the fastest growing line item in the federal budget and that interest costs are projected to total nearly $100 trillion over the next 30 years.
BUDGET DEFICIT HITS $1 TRILLION IN FIRST FIVE MONTHS OF FISCAL YEAR: CBO

The national debt surpassed $39 trillion for the first time in U.S. history this week. (Demetrius Freeman/The Washington Post via Getty Images / Getty Images)
He went on to say that with voters concerned about affordability, the debt’s cost and economic impact on Americans’ livelihoods should serve as cause for the issue to be a focal point of the debate surrounding this year’s elections.
“America faces complex and critical challenges, both at home and abroad, and putting our debt on a sustainable path will support a stronger, more secure future. The good news is that there are many solutions available, and they all should be put on the table for discussion this campaign season,” Peterson added.
The fiscal headwinds facing the federal government are expected to continue in the years ahead, as spending on programs like Social Security and Medicare rise along with debt service costs and cause projected budget deficits to widen.
WHAT ARE THE BIGGEST BUDGET DEFICITS IN US HISTORY?
The nonpartisan Congressional Budget Office (CBO) released a 10-year budget and economic forecasts which estimated annual budget deficits will rise from their current level of about $1.9 trillion to $3.1 trillion a year a decade from now. That will push the gross national debt from its current level around $39 trillion to $63 trillion in 2036.
Debt held by the public as a share of gross domestic product (GDP), a measure economists prefer to use in comparing a nation’s debt to the size of its economy, will rise from about 100% this year to 108% of GDP in 2030 and further to 120% in 2036.
Those figures will break the record of 106% set in 1946 as the U.S. was in the process of demobilization after the end of World War II.
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A recent update from the CBO found that the federal government’s budget deficit for the current fiscal year 2026 topped $1 trillion in the first five months of the fiscal year despite an influx of tax revenue from tariffs, some of which were struck down by the Supreme Court as being illegal.
Some of those tariff revenues may be subject to refunds to the businesses and consumers who paid them, which could widen this year’s deficit if the revenue isn’t replaced.
Business
UK sets target to boost steel making and cut imports
Up to half of steel used in Britain should be made there, the government says, as it announces its steel strategy.
Business
Spain Emerges as Clear Favorite with Expanded 48-Team Format Looming
With the 2026 FIFA World Cup just over three months away, kicking off June 11 across 16 venues in the United States, Canada and Mexico, early predictions and betting markets point to Spain as the frontrunner to lift the trophy in the expanded 48-team tournament’s final at MetLife Stadium in East Rutherford, New Jersey, on July 19.

As of mid-March 2026, Spain holds steady as the betting favorite across major sportsbooks like DraftKings, BetMGM, FanDuel and prediction markets such as Polymarket and Kalshi. Odds list Spain at +400 to +450 (implying roughly 18-20% probability), buoyed by their dominant UEFA qualifying campaign, recent European Championship success and a deep, balanced squad featuring young talents like Lamine Yamal alongside veterans.
England follows closely at +550 to +600, benefiting from a strong core led by Jude Bellingham, Harry Kane and Phil Foden, though questions linger about their ability to translate domestic talent into international silverware. France sits third at +650 to +750, with Kylian Mbappé’s form and defensive solidity keeping them in contention despite recent inconsistencies. Brazil and defending champion Argentina round out the top tier at +750 to +800, with Brazil’s attacking flair and Argentina’s Lionel Messi-led experience (potentially his final tournament) making them perennial threats.
Portugal (+1100), Germany (+1200 to +1400) and the Netherlands (+1600 to +2000) follow as strong challengers. Norway (+2200 to +2500) garners attention as a potential dark horse, powered by Erling Haaland’s goal-scoring prowess and Martin Ødegaard’s creativity. Belgium (+3000) and Italy (around +3300, pending playoff qualification) remain in the mix but face steeper paths.
The expanded format — 48 teams across 12 groups of four, with the top two and eight best third-placed teams advancing to a round of 32 — increases unpredictability. Group-stage upsets could propel underdogs deeper, with more matches (104 total) allowing for momentum shifts.
Host nations Mexico, the United States and Canada benefit from home advantage and automatic qualification. The U.S. (+5000 to +6500) draws optimism as co-hosts, with a talented young core including Christian Pulisic, Weston McKennie and emerging stars. Mexico (+7000) and Canada face tougher paths but could leverage crowd support in familiar time zones.
Qualifying nears completion, with 42 of 48 spots filled. March playoffs decide the final European berths: Italy vs. Northern Ireland, Wales vs. Bosnia-Herzegovina, Ukraine vs. Sweden and others. Italy remains a popular pick to qualify at around +3300 overall odds if they advance.
Dark horses include Morocco (+6000), fresh off a 2022 semifinal run, Colombia (+3300 to +4000) with dynamic attacking play, Ecuador (+6600 to +8000) and Senegal (+10000). Norway’s Haaland factor and Japan’s technical discipline make them popular long-shot bets.
The tournament’s scale — spanning cities from Seattle to Miami, Toronto to Mexico City — poses logistical challenges but promises spectacle. MetLife Stadium hosts the final, with iconic venues like AT&T Stadium (Arlington), SoFi Stadium (Inglewood) and Estadio Azteca (Mexico City) staging key matches.
Predictions hinge on form, injuries and adaptation to North American conditions. Spain’s tactical cohesion under Luis de la Fuente gives them an edge, while England’s depth and France’s talent keep them close. Argentina’s experience and Brazil’s flair ensure drama.
As qualifying wraps and friendlies ramp up, the 2026 World Cup promises unprecedented scale and potential surprises in a truly global showcase.
Business
MLG Oz extends tenure at Jundee
Heavy haulage company MLG Oz has extended its working relationship with Northern Star Resources at the goldminer’s Jundee operations.
Business
Unemployment jump to 4.3 per cent defies expectations
Australia’s labour market eased a little in February, despite an extra 48,900 jobs added to the economy, according to official data.
Business
OPINION: Alcoa has lost its social licence
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