Good morning,
The 2025 ICC Champions Trophy is already in the thick of a row, but the Pakistan Cricket Board (PCB) seems to have relented to something. After the Board of Control for Cricket in India (BCCI) raised alarm over PCB’s move to include Pakistan-occupied Kashmir in its tour itinerary, the tournament is now learnt to be restricted to only the three host cities of Karachi, Lahore and Rawalpindi. There’s still no word on India agreeing to play in the tournament, but could this be some sort of an olive branch?
🚨 Big Story
A week after Donald Trump’s landslide victory in the United States elections, a Hong Kong-based brokerage firm CLSA raised its India allocation to a 20 per cent ‘overweight’, slashing exposure to China.
First, what is ‘overweight’ in this context? Turning ‘overweight’ essentially means Indian equities should perform better compared with other markets.
Why this is significant: The firm’s move is being seen as a tactical reversal from its early October update when it went ‘overweight’ on China.
Why India may be a good bet: One possible explanation behind the switch-up could be an escalation of a trade war between US and China, after Trump proposed up to 60 per cent tariff on Chinese imports into the US. CLSA underlines that India appears as among the least exposed of regional markets to Trump’s adverse trade policy.
⚡ Only in Express
For long, sugar in Maharashtra has been synonymous with the cooperative sector. However, over the last 25 years, there’s been a change in the landscape—from a mere three private mills in 1998-99 to over 200 now. In the run up to state polls, our reporters map this shift as private mills account for nearly half the state’s sugar production.
✍🏽 Express Opinion
In our Opinion pages today, independent scholar Peter Ronald DeSouza tells the story of being faced with prejudice, when an old schoolmate asked him to “go back to Portugal”. DeSouza writes:
“My story is only a pointer to the challenge ahead. I must admit that in my naivete I was unprepared for the ferocity of the onslaught. The language of “us vs them” has clearly taken root among educated middle-class Indians.”
👔 Express Explained
Over the past week, United States President-elect Donald Trump has made a slew of appointments in his incoming administration, including filling 10 Cabinet-level positions. As Team Trump takes shape, his choices reflect the lessons he has learnt (or not), a determination to build an administration in his own image, and the premium he places on loyalty.
🎬 Movie Review
To all the Paul Mescal fans, Gladiator 2 may come as a bit of a disappointment, especially if you adored Russell Crowe’s delicately balanced portrayal of Maximus in the prequel. No, Gladiator 2 is not Gladiator, but there are still silver linings. In her latest review, Shalini Langer writes: “…the task that he (Mescal) pulls off in bearing Gladiator II on his raw shoulders is no minor achievement.”
That’s all for today.
Until Monday,
Ayesha Jain