Industry body PHDCCI has suggested that the government set up a dedicated Green Bank or Climate Finance Facility in the upcoming Union Budget to help channel private capital into green technologies such as renewable energy, energy efficiency and electric vehicles, PTI reported.The proposal was made during a pre-Budget interactive session with representatives from the banking, financial services and insurance (BFSI) sector, where participants underscored the need for budgetary support, risk-sharing mechanisms and strong disclosure frameworks to improve transparency in green lending.The industry body also suggested that the proposed Green Bank should be allowed to raise funds through green bonds or pooled financing instruments to expand the availability of long-term climate finance.In addition to climate-focused financing, PHDCCI flagged broader concerns around credit availability and liquidity in the economy. “More credit to MSMEs at lower cost, more support to export-hit sectors and more liquidity infusion. I think the rate cuts haven’t transmitted the way they should have,” PHDCCI Chairman Gurmeet Chadha told PTI.The Budget session of Parliament will be held from January 28 to April 2, Parliamentary Affairs Minister Kiren Rijiju said on Friday. The session will open with President Droupadi Murmu’s address to a joint sitting of the Lok Sabha and the Rajya Sabha. Finance Minister Nirmala Sitharaman will table the Economic Survey and present the Union Budget during the session. Rijiju did not specify the date for the Budget presentation. February 1, the customary Budget Day, falls on a Sunday this year. Parliament will go into recess from February 13 to March 9. “On the recommendation of the Govt of India, Hon’ble President of India, Smt. Droupadi Murmu ji has approved the summoning of both the Houses of Parliament for the Budget Session 2026,” Rijiju said in a post on X. “The Session will commence on 28 January 2026 and continue till 2 April 2026,” he added.

Your “risk profile” is not carved in stone. It changes with the market, your age, your job, your experiences. (AI image)

If I had a rupee for every time someone told me “Sir, I am a moderate-risk investor,” I could start my own small-cap fund.“Moderate risk” is the NSE of personal finance: everyone mentions it, few can define it, and almost nobody behaves according to it.On good days, when markets are going up, your risk appetite looks like Salman Khan on a bike. Small-caps, options, IPOs, crypto—sab chalega. On bad days, when markets are falling, the same person suddenly wants only FDs, gold and a guarantee from the RBI governor in writing.So let’s start with a simple truth: your “risk profile” is not carved in stone. It changes with the market, your age, your job, your experiences, and, most importantly, your mood.At Value Research, we try to separate three different things that people mix up when they say “risk”:

The right level of risk is somewhere between these three, not what you feel on a good market day.Let’s put some perspective to this.Think of a 30-year-old with a stable job, no dependents and a 25-year retirement horizon. On paper, their ‘risk capacity’ is high: plenty of time, no big obligations yet. But if this person panics and wants to redeem whenever the price falls by 10 per cent, their ‘risk tolerance’ is low. Now add the third piece: if they want to retire at 50 with a large corpus, their ‘risk need’ is high—they probably can’t get there with just FDs.This is the real puzzle. You can’t just say “I don’t like risk” if your goals and income require some equity exposure. You also can’t just say “I like risk” if you have a single income, EMI, two kids and no emergency fund. The numbers and the behaviour both have to be in the room.Now, why does your risk appetite keep changing? Because you are human. In bull markets, recent returns are high, and everyone you know is bragging. You feel fearless and underinvested. In bear markets, the same portfolio suddenly looks dangerous and oversized. The external environment hasn’t changed you, but it has changed how you feel about the same risk.

FOMO at the top

At Value Research, our analysis of investor behaviour shows the same pattern: search interest in equity markets rises after euphoric returns and falls during market corrections. Emotionally understandable. Financially backward.So how do you pin down a level of risk that’s right for you, without letting your mood of the month decide?A practical approach is to start from your goals and timeframes, not from products. Suppose you’re saving for three buckets:

Match risk to goal

This is not a prescription; it’s a way to think. Once you fit your money into these buckets, your “risk appetite” for each bucket becomes clearer.The next step is to stress-test your feelings. Ask yourself: if my equity portion fell 20–30 per cent on paper and stayed there for a year, would I:

Your honest answer defines your risk tolerance a lot better than any form that asks, “On a scale of 1–5, how adventurous are you?”At Value Research, we try to reflect this in the equity–debt split we suggest. If the numbers say you can and should take more risk, but your behaviour clearly can’t handle it, we don’t push you into an 80% equity portfolio just because a formula said so. A 60% equity allocation you can live with for 20 years is far better than a 90% equity allocation you abandon in three.One more thing: your risk level should change with your life, not with the market. When you’re young, single and just starting out, you can survive more volatility because you have time to recover and future income ahead. As you approach a goal—say, your child’s college in three years—you should gradually reduce equity, even if markets are booming. The goal doesn’t care about your bravery; it cares about whether the money is there when needed.So, how much risk is right for you? The honest answer is: the amount that your goals need, your financial situation can handle, and your nerves can tolerate through at least one ugly cycle.The reason your appetite for risk keeps changing is that you’re letting the market decide it for you.If you want one simple takeaway, here it is: decide your risk level on a calm day based on your life, not on the market. Write it down, turn it into an asset allocation (how much in equity, how much in debt), and then let that guide your choices. Don’t increase equity just because the index hit a new high, and don’t dump equity just because the index hit a new low.Markets will always be moody. You don’t have to be.(Dhirendra Kumar is Founder and CEO of Value Research)If you have any queries for Dhirendra Kumar you can drop us an email at: toi.business@timesinternet.in(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

India on Friday said it is closely monitoring developments around a proposed US legislation that seeks to impose steep tariffs of up to 500% on countries procuring Russian crude oil, amid growing pressure from Washington, PTI reported.“We are aware of the proposed bill. We are closely following the developments,” External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing.

The proposed legislation, authored by US Senator Lindsey Graham, targets countries that continue to buy Russian oil and resell it, with India and China among the largest current purchasers. Graham said earlier this week that President Donald Trump has green-lighted the bill.India has consistently defended its decision to import Russian crude, arguing that it is guided by market conditions and the country’s energy security needs. “Our position on the larger question of energy sourcing is well known,” Jaiswal said.“In this endeavour, we are guided by the evolving dynamics of the global market and by the imperative to secure affordable energy from diverse sources to meet the energy security needs of our 1.4 billion people,” he added.Graham, outlining the intent of the bill, said it would give President Trump “tremendous leverage” over countries such as India, China and Brazil to discourage them from buying discounted Russian oil, which he claimed was financing Russia’s war in Ukraine. The proposed legislation provides for a 500% tariff on secondary purchases and resale of Russian oil.The issue has gained traction amid reports that India has begun trimming its Russian oil imports. Earlier this week, Graham said Indian Ambassador to the US Vinay Kwatra had informed him that New Delhi was reducing purchases and had asked him to convey to President Trump a request to “relieve the tariff” imposed on India.The US has been pressing India to cut back on Russian crude imports, arguing that Moscow is using oil revenues to fund its war effort. India, however, ramped up purchases of discounted Russian oil after Western nations imposed sanctions on Moscow following its invasion of Ukraine in February 2022.As a result, Russia’s share in India’s total crude oil imports has risen sharply—from just 1.7% in 2019-20 to 35.1% in 2024-25.

Kevin Pietersen and Brendon McCullum (Photos by Getty Images)

NEW DELHI: After England suffered a heavy 4-1 Ashes series loss to Australia, former England star Kevin Pietersen has spoken out and called for changes in the national coaching setup. Pietersen believes England should think about bringing back former head coach Andy Flower and see him as a possible replacement for current coach Brendon McCullum.

Pietersen shared his views in a post on X, where he openly supported his former coach. He admitted the idea might sound unusual but felt it was worth discussing. According to Pietersen, Flower has changed over the years and now understands today’s players much better. “This is a WILD thought. I reckon one of my wildest. Can England bring back Andy Flower now that he’s changed and in line with the modern-day player? He gets Test cricket. I’ve been told by many players that he’s changed his ways since our drama. He’s winning leagues so really does get the modern-day player. VERY IMPORTANT! Wild, I know! Thoughts?” wrote Pietersen on X. Andy Flower has a strong record as a coach. During his earlier time with England, he guided the team to the 2010 T20 World Cup title and helped them win three Ashes series in 2009, 2010–11 and 2013. Under his leadership, England also reached the number one position in Test cricket. After stepping away from the England job, Flower found great success in franchise cricket. He has won major titles with Multan Sultans in the Pakistan Super League, Trent Rockets in The Hundred, and Royal Challengers Bengaluru in IPL 2025. Brendon McCullum, meanwhile, is still under contract with the England and Wales Cricket Board until the end of the 2027 Ashes series. However, after the Ashes defeat, McCullum admitted there might be someone better suited for the head coach role.

Companies have paid an estimated $133.5 billion in IEEPA-based tariffs through December 14, according to government data. (AI image)

The Supreme Court will not rule in the crucial case of US President Donald Trump’s tariffs case on Friday. The ruling is being watched globally for its implications on all major economies. Earlier it was expected that the apex court would rule on the important issue on Friday.At the centre of the case is the legality of the so-called “Liberation Day” tariffs and whether the US president has the authority to impose them under the International Emergency Economic Powers Act (IEEPA), a 1977 law that grants special powers during national emergencies. Back in 2025, lower courts had ruled that the tariffs were implemented illegally, however, allowed the import taxes to remain in force while the Trump administration appealed to the Supreme Court.

The justices heard arguments in the case on November 5, during which both conservative and liberal members of the court expressed scepticism about whether the law gave the president unilateral authority to levy such broad duties. The ruling, issued after weeks of deliberation, now provides clarity on the scope of presidential power under IEEPA and the future of the tariffs imposed using it.The decision carries major financial implications. Companies have paid an estimated $133.5 billion in IEEPA-based tariffs through December 14, according to government data, with the total now believed to be closer to $150 billion, as estimated by Reuters. Hundreds of companies have taken legal action, filing lawsuits in the US Court of International Trade seeking to have the tariffs they paid declared unlawful and demanding refunds. More than 900 lawsuits have been filed on behalf of companies seeking tariff refunds, collectively naming over 1,000 plaintiffs, according to a tally compiled by Bloomberg. The list includes major brands such as Costco, Reebok, Peloton, Dole, Revlon and Goodyear Tire & Rubber Company, alongside firms including Kawasaki Motors, EssilorLuxottica, Bumble Bee Foods, Schick Manufacturing, Playtex, Spencer Gifts, PopSockets, Conair, Xerox, Dooney & Bourke, Barnes & Nobles, PUMA, Lane Bryant, Steve Madden, Bath & Body Works, Bose, TOMS Shoes, e.l.f. Cosmetics, J. Crew Group, Blick Art Materials and Diageo, Forbes reported. Those cases were put on hold pending the Supreme Court’s decision.

US stock markets traded slightly higher on Friday after a mixed US jobs report tempered expectations of an early interest rate cut by the Federal Reserve, without fully closing the door on easing later this year, according to an AP report.In early trading, the S&P 500 rose 0.2% and hovered near its all-time high set earlier in the week. The Dow Jones Industrial Average gained 147 points, or 0.3%, while the Nasdaq composite was largely flat.Treasury yields moved in different directions after the Labor Department said employers hired fewer workers in December than economists had expected, even as the unemployment rate improved and came in better than forecasts. The data reinforced the view that the US labour market may be in a “low-hire, low-fire” phase.The improvement in unemployment prompted traders to scale back expectations of a rate cut at the Fed’s next policy meeting later this month. Markets are now pricing in just a 5% chance of a rate cut, down from 11% a day earlier, according to CME Group data. However, traders continue to expect at least two rate cuts later in the year.“Until the data provide a clearer direction, a divided Fed is likely to stay that way,” Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, said. “Lower rates are likely coming this year, but the markets may have to be patient.”After the report, the yield on the 10-year US Treasury was steady at 4.19%, while the two-year Treasury yield edged up to 3.50% from 3.49%, reflecting shifting expectations for near-term Fed policy.On the corporate front, Vistra surged 14.6% after signing a 20-year agreement to supply electricity to Meta Platforms from three nuclear plants, highlighting rising power demand from data centres supporting artificial intelligence. Oklo jumped 12% after announcing a separate deal with Meta to help secure nuclear fuel and advance its Ohio project.These gains offset losses in some stocks. General Motors fell 1.6% after saying it would take a $6 billion hit to its fourth-quarter 2025 results related to its pullback from electric vehicles, citing weaker demand due to fewer tax incentives and looser emissions norms. WD-40 tumbled 13.7% after posting weaker-than-expected quarterly profit, though the company said the shortfall was due to timing issues rather than demand.Global markets were largely positive. France’s CAC 40 rose 1%, while Japan’s Nikkei 225 climbed 1.6%. Shares of Fast Retailing jumped 10.6% after the Uniqlo owner reported a nearly 34% year-on-year rise in quarterly operating profit and raised its full-year forecast.

Hiring in the United States remained subdued in December, capping a year of weak employment gains, even as the unemployment rate edged lower, according to data released by the US Labor Department on Friday, AP reported.Employers added 50,000 jobs in December, nearly unchanged from a downwardly revised 56,000 jobs added in November. The unemployment rate slipped to 4.4 per cent from 4.5 per cent in November, marking its first decline since June, the data showed.

The figures indicate that businesses remain cautious about expanding their workforces despite an improvement in overall economic growth. Many firms hired aggressively in the post-pandemic phase and now appear reluctant to add more workers, while others are holding back amid uncertainty linked to shifting US tariff policies, elevated inflation and the growing impact of artificial intelligence on jobs.The December report is being closely watched as it offers the first clear reading on the labour market in three months. The government did not release employment data in October due to a six-week shutdown, while November figures were distorted by the same disruption.December’s numbers also close out a year marked by slowing job creation. The economy generated an average of 111,000 jobs a month in the first three months of 2025, but that pace dropped sharply to just 11,000 a month in the three months ended August, before a modest rebound to 22,000 jobs in November.Economists note that weak hiring has emerged as a key puzzle for the US economy, which has continued to grow at a healthy pace. Growth reached an annualised 4.3 per cent in the July–September quarter last year, even as job gains softened and unemployment ticked higher through much of the year.With hiring losing momentum, the US Federal Reserve cut its key interest rate three times late last year to support borrowing, spending and employment. However, Fed Chair Jerome Powell has signalled that policymakers may hold rates steady in the coming months while assessing how the economy evolves.Despite low layoffs and a stable unemployment rate, economists remain divided on the outlook. Some expect hiring to pick up if growth remains strong, while others caution that automation and artificial intelligence could allow the economy to expand without a corresponding rise in jobs.

The United States has intercepted and seized another sanctioned oil tanker at sea, escalating its enforcement campaign against so-called “ghost fleet” vessels accused of moving embargoed crude and drawing sharp criticism from Moscow. This was the fifth such interception under Trump’s administration aim to control the distribution of Venezuela’s oil products.The latest operation, carried out in international waters east of the Caribbean Sea, was confirmed by Homeland Security Secretary Kristi Noem, who framed the action as a warning to criminal networks and hostile states alike.

“The world’s criminals are on notice,” Noem said, announcing that the US Coast Guard had boarded and seized the motor tanker Olina after it departed Venezuela and attempted to evade American forces.Describing the ship as part of a shadow fleet suspected of carrying embargoed oil, she said the operation was conducted with close coordination between the Defence Department, State Department and Justice Department, and was consistent with international law.Also read: ‘Our gratitude’ -Moscow says US to release two Russian crew members from seized oil tanker; move after request to Trump “The ghost fleets will not outrun justice. They will not hide under false claims of nationality,” Noem said, adding that the Coast Guard would continue to seize sanctioned tankers and cut off funding streams linked to illicit activity, including narco-terrorism. “This is owning the sea.”The seizure follows an earlier high-profile interception that has already strained relations between Washington and Moscow. Russia has strongly condemned the US capture of another tanker, warning that such actions lower the threshold for the use of force against what it describes as peaceful shipping and risk further escalation across the Euro-Atlantic region. The Russian foreign ministry accused Washington of a “gross violation” of international maritime law and rejected the legitimacy of unilateral Western sanctions, insisting the vessel had been authorised to sail under a Russian flag.Also read: US troops board Russia-flagged oil tanker; choppers hover near ship – watchRussian President Vladimir Putin has so far avoided direct comment, hawkish voices in Moscow have reacted angrily. Washington, however, has defended its actions as lawful enforcement of sanctions on Venezuela and associated oil shipments. US officials say only approved channels consistent with American law and national security interests are permitted to transport Venezuelan crude. The US European Command has said the earlier vessel was seized for violations of US sanctions after attempting to evade restrictions and changing its name and flag.

File photo: Malaysia’s PM Anwar Ibrahim, left, and US President Donald Trump, right, watch as Thailand’s PM Anutin Charnvirakul, second left, and Cambodia’s PM Hun Manet hold up a document after the ceremonial signing of a ceasefire agreement (AP)

The United States has announced a $45 million aid package for Thailand and Cambodia as part of efforts to reinforce a fragile ceasefire and promote stability along their disputed border.The announcement was made on Friday by Michael DeSombre, the US assistant secretary of state for East Asian and Pacific Affairs, during an online media briefing from Bangkok. DeSombre is visiting both countries to discuss the implementation of the ceasefire agreements reached last year after deadly border clashes rooted in long-standing territorial disputes.“The restoration of peace at the Thai-Cambodian border opens new opportunities for the United States to deepen our work with both countries to promote regional stability and advance our interests in a safer, stronger and more prosperous Indo-Pacific,” DeSombre said, as quoted by news agency AP.According to DeSombre, the aid package will include $15 million for border stabilisation to help communities recover and support people displaced by the fighting, $10 million for demining and clearance of unexploded ordnance, and $20 million for programmes aimed at tackling drug trafficking and online scam operations. He added that the exact details of how the funds will be used are still being finalised.The fighting between Thailand and Cambodia, which flared up in July and again in December, displaced hundreds of thousands of people and killed around 100 soldiers and civilians, according to AP. Both countries accuse each other of responsibility for the violence, which stems from competing claims over sections of their shared 800-kilometre border, originally drawn during the colonial era. Several disputed areas include ancient temple ruins claimed by both sides.Landmines remain a major concern in the border region. Cambodia continues to deal with mines left behind from decades of civil war, while Thailand has accused Cambodia of laying new mines, blaming them for injuring Thai soldiers in multiple patrol incidents last year.The ceasefire, also known as the Kuala Lumpur Peace Accords, was formalised in October at a regional meeting in Malaysia attended by US President Donald Trump. Although the two sides initially agreed to stop fighting in late July, progress was slow until Trump intervened, warning Thai and Cambodian leaders that Washington would not move forward with trade agreements if hostilities continued.Despite the agreement, clashes erupted again early last month. After three weeks of fighting, defence ministers from both countries signed a renewed pact on December 27, committing to implement the October deal, as per news agency AFP. Thailand later accused Cambodia of violating the truce, which Phnom Penh said was accidental.DeSombre said Washington remained committed to supporting both governments as they work to implement the ceasefire. “The United States will continue to support the Cambodian and Thai governments as they implement the Kuala Lumpur Peace Accords and pave the way for a return to peace, prosperity and stability for their people and the region,” he said in a statement, reported AFP.US aid to Southeast Asia had been sharply reduced last year after the Trump administration shut down the US Agency for International Development, or USAID, but the latest package signals renewed engagement focused on security, stability and US strategic interests in the region.

The growing number of free trade agreements (FTAs) signed and implemented by India will provide wider market access to the country’s agriculture and food processing sectors, Minister of State for Commerce and Industry Jitin Prasada said on Friday, PTI reported.“We have navigated a series of free trade agreements. Our produce has access to these markets,” Prasada said, noting that India has recently signed and implemented FTAs with Mauritius, Australia, the EFTA bloc, the UK, Oman and New Zealand.The minister said the government has also taken steps to improve ease of doing business by removing unnecessary compliances and regulatory burdens that hinder investment and foreign participation. “The government has also ensured ease of doing business in India, doing away with the unnecessary compliances and regulation burdens,” he said, adding that the “red carpet has been rolled out for investment”.Speaking at the inauguration of the World Culinary Heritage Conference 2026 at India Expo Mart in Greater Noida, Prasada said India now has over 40,000 registered agro-based processing units and the focus must shift towards increasing revenues from the sector.The conference is part of the three-day Indusfood show organised by the Trade Promotion Council of India (TPCI). TPCI chairman Mohit Singla said participants from over 120 countries are attending the food and beverages event.Buyers and exhibitors from countries including China, Jordan, the UAE, Saudi Arabia, the Philippines, Nepal and Lebanon are participating in the show, he said. Singla added that the conference has brought together 30 global chefs, 350 Indian chefs, policymakers, food and beverage industry leaders and startups. “It serves as a thought-leadership platform connecting culture, cuisine, commerce, and sustainability,” he said.