WORLD
Japan Nikkei hits record high last seen more than 30 years ago
The Nikkei 225’s stellar rally over the past year caps a recovery that’s made the nation’s equities a top pick among global funds after being overlooked in favor of faster-growing markets like China.
BUSINESS
LNG tankers may be converted to floating storage in India
The units, with a capacity of 138,000 cubic meters each, are currently being leased by Petronet LNG Ltd. to import the super-chilled fuel from Qatar.
WORLD
Nvidia surges after AI boom shows no signs of letting up
Revenue in the current period will be about $24 billion, the company said in a statement Wednesday. Analysts had predicted $21.9 billion on average. Results in the fourth quarter also sailed past Wall Street estimates.
TECHNOLOGY
Wireless charging for electric cars inching closer to reality
Multiple startups have spent years working towards a world in which wireless charging goes mainstream, and as EV adoption picks up, momentum is building to make that dream a reality
BUSINESS
JSW Steel sounds out banks for $750 million loan
The Mumbai-based firm’s need for cash has been growing as it aims to almost double its steel output to 50 million tons by the end of the decade to meet rising demand from construction, energy and autos
BUSINESS
China tightens grip on stocks with net sale ban at open, close
The order from China’s securities watchdog was recently delivered to major asset managers and the proprietary trading desks of brokerages, according to people familiar with the matter
BUSINESS
India’s tech leaders jockey for slice of $300 billion AI market
From DeepMind Technologies co-founder Mustafa Suleyman to Stanford researcher Fei-Fei Li, some of the field’s biggest names debated this week in Mumbai how India — the country that pioneered the $250 billion IT outsourcing industry — can become a player in the transformative technology
WORLD
Saint Gobain considers buying Australian rival CSR
The two companies have held initial talks and are working with advisers to reach a deal, said the people, who asked not to be identified because the matter is private. Paris-based St. Gobain has lined up financing for a potential transaction, the people said.
WORLD
HSBC CEO Noel Quinn pay almost doubles as bonus pool hits decade high
The overall bonus pool rose by 12% in 2023, bucking a trend of tepid bonuses across the industry amid weak deal flow and job cuts.
BUSINESS
AI model backed by Asia’s richest person to launch in March
The BharatGPT group, encompassing an arm of India’s most valuable company and eight affiliated universities, offered a sneak peek of the large language model Tuesday during a technology conference in Mumbai.
WORLD
Emerging-market stocks erase 2024 losses after January rout
The MSCI Emerging Markets Index rose as much as 0.7% Wednesday, putting it on course to close above the level of 1,023.74 set on the last trading day of 2023.
BUSINESS
India banks’ rush for clients set for reckoning after Paytm
India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp.
BUSINESS
France seeks first meeting for India-to-EU infrastructure link
President Emmanuel Macron named Gerard Mestrallet, the former chief executive officer of French energy utility Engie SA, his envoy to lay the ground work of the project. The concept, known as IMEC, aims to create a network of railroads, ships, gas pipelines and internet cables.
WORLD
Abu Dhabi considers buying stake in London’s Heathrow airport
Sovereign wealth fund Mubadala is weighing an investment after it was approached by Paris-based buyout firm Ardian, the people said, asking not to be named as the information is private.
BUSINESS
India regulator uncovers $241 million accounting issue at Zee: Report
The amount found missing is not final and may change after Sebi reviews the responses from the company executives, the people said.
AUTOMOBILE
Wireless charging for electric cars is inching closer to reality
Companies are coalescing around standardized technology, automakers are embarking on wireless experiments, and municipalities are mapping out use cases. Even Tesla Inc. is interested.
WORLD
In rare move, China vows to heed market criticisms to avert $5 trillion rout
WORLD
Europe car sales jump 11% in January on pent-up demand
New-vehicle registrations rose to 1.02 million units last month, the European Automobile Manufacturers’ Association said Tuesday. Fully electric vehicles made up 11.9% of total deliveries, up from 10.3% a year ago as automakers seek to reboot purchasing amid a bruising price war.
WORLD
Barclays aims to cut costs by £2 billion in bid to boost returns
The British bank, which is mainly known for its global investment banking and markets franchise, achieved a return on tangible equity of 9% for 2023, according to a statement on Tuesday.
WORLD
Iron Ore slumps to three-month low as China concerns escalate
Futures sank more than 3% in Singapore to hit the lowest intraday price since Nov. 8, following a drop in the week’s opening session.
BUSINESS
Investors are turning wary of crowded India trade after run-up
Earnings misses, the attractiveness of rival markets amid expectations of a dovish policy shift by the Federal Reserve and a nascent recovery in Chinese equities are casting doubts over India extending a rally that saw the nation’s main gauges posting a record eighth straight year of gains in 2023.
BUSINESS
Qatar to announce more LNG deals with European, Asian buyers
QatarEnergy may also sign deals with additional partners to take a stake in the expansion of the offshore North Field, Qatar's Energy Minister Al-Kaabi said
WORLD
SoftBank stock rises on CEO Masayoshi Son’s Plan for $100 billion chip project
Shares in the Tokyo-based tech investor gained as much as 3.2% after Bloomberg News reported the 66-year-old billionaire is seeking funding for a foray into AI chips to compete with Nvidia Corp.
WORLD
Foreign direct investment to China slumps to 30 year low
China’s direct investment liabilities in its balance of payments stood at $33 billion last year, according to data from the State Administration of Foreign Exchange released Sunday.
