Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

Markets on Edge: Five Triggers to Watch

India’s stock markets cooled off last week, snapping a two-week rally. Both the Sensex and Nifty 50 fell 0.7%, amid global trade tension and FPI outflows (₹5,773 crore in July so far). Mid and small caps stayed resilient.

What’s Next?

Five key signals will shape this week:

India-US Trade Deal: With the July 9 deadline looming and Commerce Minister Piyush Goyal standing firm, uncertainty lingers.

Q1 Earnings Kick Off: TCS and Tata Elxsi report July 10.

Monsoon Progress: Above-normal rains = boost for kharif sowing.

FPI Flows: Still in withdrawal mode, eyes on earnings and trade talks.

US Fed Minutes: Could hint at when rate cuts might come.

Modi in Rio: Trade, Terror & Teamwork

At the BRICS Summit in Brazil, PM Modi met Cuban President Miguel Díaz-Canel to push ties in Ayurveda, biotech, pharma, and digital payments. The leaders agreed on strengthening cooperation on global issues like pandemics and climate change.

Modi also took a hard line on terror, calling for sanctions after the Pahalgam attack. “Backing terrorists for political gain should never be acceptable,” he said.

UAE’s Golden Gateway for Indians

A lifetime UAE Golden Visa is now within reach for Indians—without needing to buy property.

What’s new?

Nomination-based entry.

One-time fee: AED 1,00,000 (~₹23.3 lakh).

No Dubai visit needed for pre-approval.

Includes family, business, and job rights.

Launched under UAE’s CEPA strategy, this pilot includes India and Bangladesh first, with China and others to follow. Applicants will undergo intense vetting—criminal checks, social media scrutiny, and potential economic value to the UAE.

Yes Bank CEO Search Paused Amid Japan Deal

Yes Bank has paused its CEO search as it awaits RBI’s green light on a ₹13,482 crore investment from Japan’s SMBC Group, which plans to acquire a 20% stake—the largest cross-border banking deal in India.

The board felt it prudent to wait for SMBC’s input before appointing a new chief.

Current CEO Prashant Kumar has been given a six-month extension, and the search firm has been told to stand down.

Fitch calls the SMBC deal a potential game-changer for foreign investment in Indian banks—if RBI opens the door.

Bengaluru Startup’s 12-Hour Days Spark Debate

Work from 10 to 10. Six days a week. Sometimes Sundays too.

That’s the reality at mobile gaming startup Matiks, where founder Mohan Kumar says it’s not a job, it’s a mission.

His post on X set off a firestorm—some admired the grind, others slammed it as burnout in disguise. Critics questioned equity sharing, mental health, and the ethics of glorifying extreme hours.

Kumar insists no one is forced. “We’re not here for paychecks—we’re chasing a dream,” he said, calling his all-under-25 team co-builders, not employees.

Beds in the office, dinners at desks—is this startup grit or toxic hustle?

What do you think? Driven dreamers or burnout in disguise?

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