BUSINESS
Asia tracks worst US selloff since August crash
Asian stocks slumped following Wall Street's worst day since August 5, led by a 3% drop in Japan’s Nikkei 225. Weak US manufacturing data, plunging oil prices, and Nvidia’s record 9.5% loss fueled concerns over global economic health.
BUSINESS
SEBI plans to ease registration for foreigners buying govt debt
The move comes as foreigners continue to add money into index-eligible bonds with August seeing net inflows of $2.8 billion, the most since JPMorgan said it would include Indian bonds to its flagship emerging market gauge
BUSINESS
Hacker behind $234-million WazirX crypto theft starts washing funds
The perpetrator on September 2 moved 2,500 Ether tokens worth about $6.3 million to Tornado Cash — a sanctioned service that blurs the origin of cryptoassets.
INDIA
World’s no. 1 air-conditioner maker to expand capacity in India
The Japanese company has signed a memorandum of understanding to acquire an additional 33 acres (13.4 hectares) to build a new plant near its current factory in southern India, chief executive officer of Daikin’s India operations Kanwal Jeet Jawa said.
WORLD
HP to pursue $4 billion damages after Mike Lynch yacht death
In total, HPE was seeking $4 billion from Lynch and his finance chief, but the judge had cautioned that it was likely to get substantially less than that.
BUSINESS
ICICI Prudential AMC sells India sovereign bonds to buy credit
The country’s sovereign debt is among the best performing in Asia this year so far.
BUSINESS
Mastercard wants to get rid of card numbers for online shopping
It’s the latest step that the financial industry is taking to combat the rising issue of online payment fraud, which is expected to exceed $91 billion by 2028.
INDIA
Ukraine floats India Summit to push plan to end Russia’s war
Zelenskiy raised the issue during Modi’s visit, seeking India’s signature, the president’s spokesman, Nykyforov, said, adding that the host of a second summit must have signed the text.
BUSINESS
BPCL seeks Rs 32,000 crore for refinery in largest Rupee loan of 2024
The proposed deal would help BPCL expand at a time when India is boosting its petrochemical capacity to keep pace with growing plastics consumption.
BUSINESS
HDFC Bank plans to sell $1.2 billion of loans via rare debt tool
HDFC Bank sold a Rs 5000 crore loan portfolio to an undisclosed buyer in June. The bank had last done such a transaction more than a decade ago, Chief Financial Officer Srinivasan Vaidyanathan said last month.
BUSINESS
Decks cleared for Air India-Vistara merger, Centre clears $276 million investment by Singapore Airlines
India has given the green light to a $276 million investment by Singapore Airlines Ltd. into the newly merged Air India and Vistara, clearing the final hurdle for the deal.
BUSINESS
Nvidia’s earnings will test the S&P 500’s $4 trillion recovery
Analysts expect Nvidia’s quarterly revenue to be around $29 billion, more than double what it reported a year ago. And they anticipate another boost in guidance for future sales.
INDIA
Chinese hackers breach US, India internet companies: Report
Volt Typhoon has breached four US firms, including internet service providers, and another in India through a vulnerability in a Versa Networks server product, according to Lumen Technologies Inc.’s unit Black Lotus Labs
BUSINESS
Asian stocks cautious as market traders await Nvidia earnings
With the AI giant set to report earnings after Wednesday’s session, weak sentiment toward the tech sector, triggered by disappointing results earlier this week from Chinese e-commerce firm PDD, may linger
WORLD
Massive fires to hurt sugar output in top exporter Brazil, may impact global supply, prices
The impact could last through the coming year, as the fires have affected cane that was sprouting. In such cases, the heat severely damages the roots of the plant, meaning producers will likely have to replant or face a smaller harvest in the upcoming season
BUSINESS
Is China's consumption story fading? E-comm firm's $55-bn stock crash sends warning on economy
China’s less affluent consumers outside of glitzy mega cities drove much of e-commerce firm Temu-owner PDD Holdings Inc's success. They’re now a big source of uncertainty
BUSINESS
US private equity group TCG seeks pact with oil PSUs for a $10 billion project
TCG is in talks with ONGC and its unit HPCL for the planned project estimated at more than $10 billion in Cuddalore, Tamil Nadu, the people said, asking not to be identified as the discussions are private.
BUSINESS
Rothschild to boost equity capital markets, debt businesses in India as deals heat up
The expansion plans at Rothschild follow a surge of initial public offerings in the Indian stock market, partly driven by some multinational companies seeking to unlock value from their local operations, according to Aalok Shah, a managing director and co-head of Rothschild India
BUSINESS
What's it like working at Nvidia? You may get rich, but work remains stressful
The work hours are grueling, current and former employees said, leaving little time for the jet-setting, homebuying and leisure many can now afford. A culture problem is brewing, employees said
MARKETS
World-beating Indian energy stocks rally has fuel for more gains
The sector, dominated by India’s state-owned companies, has been an investor darling due to the country’s rapidly growing energy consumption, with the South Asian nation projected to be the leading driver of global demand through 2030.
WORLD
Gone in 18 days: Temu owner’s founder loses spot as China’s richest person
A slump Monday in shares of PDD Holdings Inc., the parent company of e-commerce giant Temu, sent Huang’s fortune tumbling by $14.1 billion, his biggest one-day loss ever
WORLD
Asian stocks fluctuate as investors await Nvidia earnings
A gauge of the “Magnificent Seven” megacaps slid 1.2% on Monday. While more than half of the shares in the S&P 500 gained, the US equity benchmark edged lower — a consequence of weakness in the tech giants that dominate it
BUSINESS
LG Electronics weighs India IPO to help chase $75-billion goal
Any IPO would coincide with a boom in India’s capital markets. Some 189 companies aim to sell shares to raise $5.6 billion this year, making it one of the busiest markets in this space
WORLD
After Sheikh Hasina's exit, Bangladesh directs attention to a pressing issue
The country’s interim government has asked Debapriya Bhattacharya, an economist and public policy analyst, to produce a “white paper” documenting mismanagement under Hasina’s rule.
