Welcome to your Friday edition of Top 10@10 – your quick wrap of the biggest stories shaping markets, policy, and global headlines.
In Berlin, Commerce Minister Piyush Goyal underscored that India won’t rush into trade deals under pressure, even as global trade tensions intensify. Back home, the Nifty logged its fourth consecutive weekly gain despite a choppy session led by weakness in banks and consumer names.
Across the Atlantic, Harvard economist Gita Gopinath sharply criticised Donald Trump’s tariffs, calling them inflationary and ineffective, while the US President eyes a breakthrough meeting with Xi Jinping.
Meanwhile, Federal Bank’s ₹6,200 crore warrant issue to Blackstone lifted its shares, and India’s advertising icon Piyush Pandey passed away at 70, leaving behind a creative legacy that defined an era.
Beyond the boardrooms, tragic news from Andhra Pradesh, rising Delhi pollution levels, and election heat in Bihar kept the nation on edge.
India does not rush into trade deals, says Piyush Goyal at Berlin meet
Commerce and Industry Minister Piyush Goyal on Friday said India will not enter into trade agreements under pressure or deadlines, stressing that decisions are driven purely by national interest. Speaking at the Berlin Global Dialogue, Goyal said New Delhi continues to engage with major partners, including the United States, but “we do not do deals in a hurry” or “with a gun on our head.”
Nifty posts fourth straight weekly gain in 2025; All eyes on US CPI data
The stock market ended lower on Friday after a volatile session, as weakness in banking and consumer stocks offset gains in metals, while overall sentiment remained cautious due to uncertainty surrounding the India-US trade deal. Despite the fall, both benchmarks recorded their fourth consecutive weekly gain – the first such streak in 2025.
Six months on, Donald Trump’s tariffs raise inflation, fail trade goals: Harvard Economist Gita Gopinath
Former IMF Chief Economist Gita Gopinath has criticised US President Donald Trump’s ‘Liberation Day’ tariffs, saying they have raised inflation while failing to improve the trade balance or strengthen manufacturing. In a post on X (formerly Twitter), Gopinath, an Economics Professor at Harvard, offered a ‘negative’ assessment of the tariffs’ economic impact six months after their implementation.
Federal Bank approves issue of warrants worth ₹6,200 crore to Blackstone; Stock rises
Kerala-based private sector lender Federal Bank Ltd. has approved the issue of convertible warrants on a preferential basis to Asia II Topco XIII, an affiliate of private equity firm Blackstone. The stock has risen on Friday, October 23, in response to the announcement.
Donald Trump seeks elusive trade deal with Xi Jinping in high-stakes meeting
US President Donald Trump is aiming for a quick win in a pivotal Thursday meeting with Chinese counterpart Xi Jinping, even if the outcome falls short of the sweeping deal he’s teased on issues at the heart of the rivalry between the world’s two largest economies.
Piyush Pandey, the man behind some of India’s most iconic ads, dies at 70
Piyush Pandey, who gave India some of its most memorable advertisements, passed away on Thursday, October 23. In 1982, Pandey began his career in advertising world with Ogilvy India where he spent over four decades and created some advertisements “Har khushi mein rang laaye” for Asian Paints, “Kuch Khaas Hai” for Cadbury, among others.
Andhra govt forms panel to probe bus fire in Kurnool that killed 20
The Andhra Pradesh government on Friday constituted a committee comprising officials from the transport, roads and revenue departments to investigate the fatal bus fire here that left 20 dead.
Air quality in Delhi-NCR hovers between poor and severe categories
The air quality in the Delhi-NCR region is hovering between ‘poor’ and ‘severe’ categories, as per the Central Pollution Control Board (CPCB). The AQI at the India Gate and the surrounding areas and Dhaula Kuan and the surrounding areas, was recorded at 254 and 257 in the ‘poor’ category as per the CPCB.
Bihar elections: From Raghopur to Tarapur — key seats to watch out for
The ground is all set for a close contest between the National Democratic Alliance and the Mahagathbandhan for the 243-member Bihar Assembly. The elections will be held in two phases on November 6 and 11. The result will be declared on November 14.
We’ll see you on Monday with another engaging ‘Top 10@10.’
