BUSINESS
Biden to further limit Nvidia AI chip exports in final push
The US wants to curb the sale of AI chips used in data centers on both a country and company basis, with the goal of concentrating AI development in friendly nations and getting businesses around the world to align with American standards, according to people familiar with the matter.
BUSINESS
Avendus seeks $466 million for new private credit fund in India
The launch builds on a growing pipeline of deals that saw India’s private credit market raise close to a record $10 billion last year.
BUSINESS
FOMC minutes show officials eager to slow interest rate cuts
The December move marked a full percentage point in reductions since September. The rapid pace produced a dissenting vote in September and another in December - each a rarity under Chair Jerome Powell.
WORLD
Trump’s Panama, Greenland threats signal unchained second term
Trump hasn't explained how any of these improbable pledges would come to pass, beyond threatening to impose tariffs on nations, including Denmark, that don’t cooperate.
BUSINESS
Sajjan Jindal-run JSW Steel's coal deal frozen amid Mozambique legal row
The loss of the rights has triggered a legal battle between MdR and Mozambique’s government, leaving JSW as an observer. It comes at a critical time for the country, after disputed elections last October triggered demonstrations in which at least 278 people have died.
BUSINESS
Foxconn, Dixon Tech urge Centre to pay pending production subsidies
Foxconn could get as much as Rs 600 crore and Dixon Rs 100 crore if the government releases the funds, the people said, asking not to be identified as the matter isn’t public. The government is reviewing the two requests, the people said.
BUSINESS
Apple’s $1 billion offer not enough to lift Indonesia’s ban
Domestic content rules require Apple to produce part of their smartphones or components onshore, while the AirTag is only an accessory, Minister Agus Gumiwang Kartasasmita said in a briefing on Wednesday.
BUSINESS
China boosts consumer subsidies, vows more funding to aid demand
China has made boosting consumption a higher priority this year as it looks to fight deflation amid subdued household and business confidence.
BUSINESS
Africa gets new stock market as Ethiopia seeks to woo investors
Eastern Africa’s biggest economy expanded an average 8% in the past decade, even as it suffered a conflict that resulted in 600,000 casualties.
BUSINESS
Tencent makes biggest buyback since 2006 after US blacklist
China’s most valuable company bought back 3.93 million Hong Kong-listed shares on Tuesday, the most since April 2006, Bloomberg-compiled data show.
BUSINESS
Centre considers lifting ban on trade in some crop futures
A revocation would be another step by the world’s leading grain and sugar producer to ease pandemic-era restrictions on several farm goods.
BUSINESS
Asian stocks track US drop on tech, inflation risk: Markets wrap
China maintained its tight grip on the yuan with its daily reference rate. The People’s Bank of China set the so-called fixing at 7.1887 per dollar, 1,528 pips stronger than the average estimate in a Bloomberg survey of traders and analysts.
BUSINESS
New RBI chief faces calls to unshackle rupee amid surging dollar
While effective in dampening fluctuations, critics say Das’s tight grip on the rupee effectively fixed the currency to a crawling peg against the dollar.
TECHNOLOGY
Nvidia unveils gaming chips, desktop PC to protect AI lead
TECHNOLOGY
AI startup funding hit a record $97 billion in 2024 in US
The AI-focused deals represent an increasing share of all startup investment, according to new PitchBook data released Tuesday
BUSINESS
Husk Power, world’s biggest mini-grid firm, eyes $400 million fund raise and IPO
Husk, founded in 2008 in Bihar, is taking advantage of a drive by governments and multilateral lenders such as the World Bank to bring electricity in coming years to the more than 600 million Africans who lack access to it.
BUSINESS
NTPC’s clean energy arm to build $21 billion green hydrogen hub
NTPC Green Energy Ltd. is developing the project at Pudimadaka, near the city of Visakhapatnam in Andhra Pradesh
WORLD
Tencent shares decline after US adds company to Chinese military blacklist
The blacklisting threatens to further escalate tensions between the world’s two largest economies
MARKETS
Asian stocks gain, dollar pares losses after slump
Equities rose in Japan, South Korea and Australia, with futures pointing to a soft open in Hong Kong
BUSINESS
Regulator CEA asks states to seek private capital for $107 billion transmission grid expansion
States should monetize their transmission assets by transferring ownership to businesses for a period of time, and re-invest the proceeds into new projects, according to a report by the Central Electricity Authority.
BUSINESS
RBI should allow more Rupee volatility, says former RBI Deputy Governor Viral Acharya
Acharya’s comments come at a time when markets await clarity on whether new RBI Governor Sanjay Malhotra would continue with his predecessor’s approach of intervening firmly in the currency market.
BUSINESS
Indian bond index inflows may lag estimate, says Morgan Stanley
Fully accessible route bonds — those offered to global investors without limits — will fall short of an initial $25-30 billion passive flow that was estimated to come in after their inclusion to the JPMorgan Government Bond Index-Emerging Markets, said a note.
WORLD
Nippon Steel slides after Biden blocks US Steel takeover
Biden had already expressed his opposition to the deal, but he announced his decision formally on Friday
MARKETS
Asian currencies hit two-decade low, stocks mixed
Japan’s Topix dropped in its first session after a multiday holiday, though shares in Korea and Australia gained. US contracts also slipped
