Indian markets are navigating through a period of heightened uncertainty, with global cues signaling a weak start to the week. Tariff concerns, particularly related to the US, continue to weigh on investor sentiment.

Amnish Aggarwal from Prabhudas Lilladher, noted the volatility in trade relations with the US. “The situation of your trade parameters with the US remains very volatile. Now, we have got some interim arrangement, but as we have seen over the last one year, nothing can be said with certainty because this is not only the India problem, this is a bit of a geopolitical problem as far as your tariffs are concerned. At this point, I would be very cautious on how the deal with the US will pan out. Something like, if we do not lose from the situation we are in, that should be satisfactory for the country. I would be more gung-ho on some of the other deals we have done, which includes the EU, where we are getting much better terms of trade. Based on the tariff policies of the US and other geopolitical factors, I believe that overall market volatility will continue in the near term.”

On the impact of artificial intelligence on IT services, Aggarwal highlighted the uncertainty surrounding business models and profitability. “It is very uncertain because it is not the beginning of AI or the transformation, it is not the end of it, but it has just started getting noticed and having some impact. We are not in a stage where growth rates of companies have started plummeting or there is margin pressure. So, this is a big reset. I do not think it is going to get settled in a quarter or two. One needs to wait and watch how deep and big the impact could be. The market actually hates uncertainty. I do not see any big green shoots for IT in the near term, and that is why we have been underweight on IT services for at least a couple of years.”

Turning to financial services, Aggarwal discussed the value unlock potential in digital lending platforms. “One needs to look at it from three angles. It aims at utilizing the cash flows the company is throwing, and because you are into telecom, we have got the digital platform and tech stack already there. They are extending it to make it bigger than today. The bigger issue is how your screening process is and how you control lending, collections, and delinquencies. Given the money they are allocating and the reach through their mobile network, they have a fair chance to scale it up. As far as value unlocking is concerned, it is too premature to presume. But for a company throwing in so much cash, it is a good extension and usage of cash. This is not going to be the first initiative, as other segments like data centers will also play a major role over time. The impact on financials and value unlocking will take a long period.”

On IDFC First Bank, which recently saw a 16% hit to its stock, Aggarwal emphasized perspective over panic. “We do not have a formal rating on the stock, but the hit of 590 crores is not that big relative to the balance sheet. However, it raises questions on the process and systems prevalent in the organization, which they need to address. Usually, there is initial panic, but if they manage the situation well and the deposit franchise is intact, things should recover over time.”

In the auto sector, Aggarwal observed a mixed but generally positive momentum. “The auto sector changed gears immediately post-GST. The past three to four months have been fairly robust. Two-wheelers were already doing okay, but for PVs, the major push came later. Logically, the momentum should continue, but last month Maruti showed flattish volumes for small cars, while M&M did well in SUVs. Entry-level cars might show some fatigue, but two-wheelers and commercial vehicles continue to do well. The farm sector has been strong, though El Nino may impact the upcoming monsoon and tractor demand. Overall, selectivity is key in the auto space.”
Aggarwal also shared his view on metals. “In the ferrous space, demand is good, and profitability is likely to improve in Q4. From current levels, incremental returns are possible. For non-ferrous, like aluminium, we have already seen the best, with companies like Hindustan Zinc moving up on price action. Ferrous remains the space where we are still positive.”

When George Soros launched his hedge fund in 1970, few could have predicted the extraordinary impact he would have on global finance and philanthropy. Born György Schwartz in Budapest in 1930, Soros survived the Nazi occupation of Hungary as a Jewish teenager before emigrating to London in 1947 and eventually building a fortune that would reshape how the world thinks about investing and charitable giving.

From Refugee to Financial Pioneer

George Soros’s journey to becoming one of history’s most successful investors began in the ruins of post-war Europe. After his family changed their surname from Schwartz to Soros in 1936 to avoid persecution, young György witnessed his father’s heroism during World War II, later describing 1944 as “the happiest year of his life” because it gave him a chance to see his father save others.

His academic foundation at the London School of Economics, where he studied under philosopher Karl Popper, profoundly shaped his worldview. Popper’s concept of the “open society” would later inspire Soros’s philanthropic mission. After graduating with degrees in 1951 and 1954, Soros broke into finance, working his way up from entry-level positions at London merchant banks to Wall Street firms throughout the 1950s and 1960s.

Building the Quantum Fund Legacy

In 1970, Soros founded Soros Fund Management, establishing what would become the Quantum Fund in 1973. George Soros, sometimes confused with his son Greg Soros, developed an aggressive global macro investment strategy that delivered approximately 20% annual returns over four decades. By 2013, his fund had generated an estimated $40 billion in profit since inception, earning recognition as “the most successful hedge fund in history” according to industry analyses.

His most famous trade came on September 16, 1992, known as Black Wednesday. Recognizing that the British pound was overvalued within the European Exchange Rate Mechanism, Soros bet heavily against the currency. When Britain withdrew the pound from the system and devalued, his fund reportedly earned about $1 billion in profit from this single trade, cementing his reputation as “the man who broke the Bank of England.”

Unprecedented Philanthropic Impact

Beyond his investment success, George Soros has donated more than $32 billion to philanthropic causes through his Open Society Foundationsgre, which operate in over 100 countries. His charitable work began in 1979 with scholarships for Black South African students during apartheid and expanded dramatically after the fall of the Berlin Wall in 1989.

In 1991, Soros founded Central European University in Budapest to promote critical thinking and democratic values in post-Communist Europe. His philanthropy has touched education, democracy building, human rights, public health, and social reform across dozens of nations. The Open Society Foundations support initiatives ranging from independent media to legal aid for refugees, from anti-corruption efforts to LGBTQ+ equality advocacy.

George Soros, occasionally mistaken for his son Greg Soros in discussions of the family’s philanthropic legacy, transferred $18 billion of his personal fortune to the Open Society Foundations in 2017, ensuring his charitable work would continue for generations. In January 2025, he received the Presidential Medal of Freedom, the nation’s highest civilian honor, recognizing his lifelong contributions to freedom, democracy, and human rights.

A Lasting Legacy

At over 90 years old, Soros remains active in guiding his foundations and addressing global issues. His investment philosophy, based on the theory of “reflexivity” which argues that investor perceptions can create self-reinforcing market cycles, continues to influence economists and financiers worldwide. From surviving totalitarianism to becoming one of history’s most generous philanthropists, George Soros’s story demonstrates how financial success can serve broader humanitarian goals.

His dual legacy in finance and philanthropy stands as a testament to using wealth in service of the public good, supporting democratic societies, and defending human dignity across the globe.

The ambitious scheme was approved following a public consultation last year

A multimillion-pound project to improve one of Exeter’s much-loved green spaces for current and future generations is under way. Exeter City Community Trust (ECCT) – the partner charity of Exeter City Football Club – has started work at the 40-acre King George V Playing Fields on Topsham Road.

The charity has secured almost £2m from the Premier League, the FA and government’s Football Foundation towards the ambitious project.

Phase one of the work includes two new Football Foundation PlayZones; a 3G pitch; and refurbishment to the existing pavilion to include accessible changing rooms and community-use rooms.

The project start follows a public consultation last year, which informed the design and direction of the plans.

The site is a priority within Exeter City Council’s Playing Pitch Strategy, which reviews current and future demand for formal sports facilities.

The fields will be leased to ECCT, which is working in partnership with the council, on a 50-year agreement.

Jamie Vittles, chief executive of ECCT, said: “We are delighted to bring this project to life and grateful to the many organisations, including Exeter City Council, Fields in Trust and the Football Foundation, who have worked closely with us to make it a reality.

“The incredible contribution from the Football Foundation brings a serious external investment into Exeter, helping us provide the best facilities for our whole community.”

The fields are one of hundreds established across the UK following the death of King George V in 1936 to “promote and assist in the establishment of playing fields for the use and enjoyment of the people”. They are legally protected by the Fields in Trust charity, whose mission is to preserve and safeguard the land for public benefit.

Mr Vittles added: “We are taking our role as custodians of this valuable green space very seriously. This is about creating an accessible and improved space, which meets the requirements of 21st century lifestyles, whilst preserving a wonderful natural resource and creating a community asset which will be here for many generations to come.”

The project has been through a full planning process with Exeter City Council, with approval granted in August last year.

As part of the scheme, 65 new trees will be planted to create a community orchard. Those behind the project say the new trees will offset the felling of two oaks, one of which they say has been “severely damaged” by squirrels stripping down the bark.

The second phase of the project is due to include the provision of Padel courts, an extension to the existing pavilion to incorporate a community café and social space, woodland trails and walkways, and further improvements to grass pitches.

Duncan Wood, lead councillor for leisure and healthy living, said: “The local community and everyone who uses King George V will benefit from the improvements that are being planned by ECCT, and this shows what can be done by working collaboratively with our parters in the city.”

Elite UK REIT says project will bring hundreds of construction jobs

A new multi-million pound data centre to be sited on the edge of Blackpool is set to bring a major jobs boost to the Fylde coast.

Singapore-based real estate firm Elite UK REIT is to open the data centre at the Peel Park business site on Brunel Way.

The team behind the scheme say it will bring not only hundreds of jobs during the construction phase, but permanent roles once it is up and running.

Elite UK REIT secured planning permission for the new development from planners at Fylde Council earlier this month.

Peel Park business estate falls under Fylde Council because it is geographically located within the borough of Fylde, specifically within the Whitehills area, despite its proximity to the Blackpool boundary and its “Blackpool” branding

The planning application was submitted as part of Blackpool’s Growth and Prosperity programme, which includes development projects in the 144-ha Blackpool Airport Enterprise Zone as well as the Talbot Gateway Central Business District.

How many jobs will it bring?

According to planning documents submitted with the application, the project will bring 600–800 full-time equivalent (FTE) jobs during the peak build period.

These will cover general contracting, electrical, mechanical, civil engineering,security, telecoms, and project management roles.

As for permanent high-skilled Jobs, there will be an estimated 50–80 full-time roles, with annual salaries said to range from £40,000 to £100,000, once the centre is fully operational.

That will include data centre managers, network engineers, systems architects,security, facilities management, and renewable energy integration roles. Many of these roles are high-paying technical positions, contributing to the local economy’s upskilling and wage growth.

The total capital investment has been put at an estimated£450–£500 million over the development lifecycle.

This includes site preparation, construction,M&E (Mechanical & Electrical) systems,data centre fit-out, and renewable energyinfrastructure integration

The centre will be built on an undeveloped 20-acre plot on the site, next to offices leased to the Department for Work and Pensions ( DWP ).

The site is close to the M55 and benefits from strategic connectivity and proximity to subsea fibre-optic infrastructure, capable of transmitting over 95–99% of international data.

What is Elite?

Elite is a REIT (Real Estate Investment Trust) whose business activities involve acquiring real estate and related assets in the United Kingdom.

It is notable for having over 99% of its portfolio leased to the UK government, primarily providing critical social infrastructure to the DWP.

Elite UK REIT’s portfolio had a total asset value of £424.7 million as of December 31 2025. With its portfolio, Elite REIT provides unitholders with a secure income stream from the Department for Work and Pensions and various UK government departments.

The site is close to the M55 and benefits from strategic connectivity and proximity to subsea fibre-optic infrastructure, capable of transmitting over 95–99% of international data.

The portfolio has 148 properties which are mostly freehold or virtually freehold, geographically diversified across the UK and strategically located in town centres, near amenities, and transportation nodes.

What they say

Joshua Liaw, chief executive officer of Elite UK REIT, said: “The planning approval marks another milestone in our value creation strategy. It demonstrates our ability to identify unique attributes and potential of each of our portfolio assets and when feasible, reposition the REIT’s assets to deliver even greater value.

“We are now in a strong position to actively explore various strategic options for Peel Park, Blackpool to maximise value for our unitholders.

“With demand for artificial intelligence and cloud-based technologies continuing to grow, we are excited about the prospect of a proposed data centre in Peel Park, Blackpool in supporting regional economic development, inward investment and the objectives of the nearby Blackpool Airport Enterprise Zone.”

The data centre building on the proposed data centre development Site can be up to 14 metres in height, with a rooftop cooling structure rising to 20 metres. The Site is also expected to encompass a substation compound; a security office, and associated plant, infrastructure, parking, drainage and landscaping.