TECHNOLOGY
SenseTime plunges after death of China AI firm’s Co-Founder
The Chinese firm’s growth has slowed dramatically in the face of rapidly intensifying competition. The US government blacklisted the company in 2019 on allegations related to human rights violations in Xinjiang.
WORLD
China should trim US Treasury holdings, Ex-PBOC adviser says
America’s debt levels may continue rising relative to the size of the US economy, Yu Yongding said in a speech in the southern city of Sanya on Sunday.
WORLD
Revival of winter travel turns jet fuel into oil’s bright spot
The post-pandemic recovery of air travel is gaining pace in China and India, while the US is expecting to see record travel demand during the holiday season.
BUSINESS
Oil boon will add extra zip to rally in emerging-market assets
Brent crude’s slide of more than 20 percent from its September peak suggests inflation is set to slow even further in developing nations in coming months, which will provide another reason to buy their bonds.
BUSINESS
Adani Group’s Ambuja Cements to invest $723 million in Green Energy projects
The Mumbai-based cement maker, which the Adani Group acquired from Holcim Ltd. last year, will be funding this investment through internal accruals, it said in an exchange filing Monday.
BUSINESS
Goldman ramps up credit business in India, targets rich diaspora
The investment bank wants to broaden the range of loans it offers through its shadow banking unit, according to Sonjoy Chatterjee, chairman and chief executive officer for Goldman in India.
BUSINESS
Goldman sees India to Australia easing policy earlier after Fed
They have now brought forward Indonesia and Taiwan’s first rate cut to the second quarter of next year and India, Australia and New Zealand’s to the third quarter, having previously anticipated a loosening at the end of 2024.
BUSINESS
Motorcycle icon Royal Enfield faces fresh challenge from Harley in India’s biker paradise
Rather than a Royal Enfield favored by her father and several million other riders in India, Sandhu opted for a slick roadster from UK-based Triumph.
TECHNOLOGY
Royal Enfield faces fresh challenge from Harley in India’s biker paradise
Like Triumph, US giant Harley-Davidson Inc. is also renewing efforts in India, where Royal Enfield is revered to a similar extent as Harley is in the US.
BUSINESS
JM Financial to expand investment banking business as amid dealmaking boom
The Mumbai-listed company is seeking to hire at least seven senior investment bankers in the coming year for sectors such as industrials and digital technology, where companies are actively looking to raise funds
BUSINESS
Option traders take risky bets on unusually calm rupee
The cohort are essentially making a bet that the Reserve Bank of India will continue to keep a tight grip on the currency as it seeks to contain volatility and slow its decline past a record low
WORLD
ECB and BOE are reluctant to join Fed in pivoting toward rate cuts
In the wake of Federal Reserve chief Jerome Powell’s signal on Wednesday that officials are turning to focus on reducing borrowing costs, peers from Frankfurt to London declared that further slowing in inflation can’t be taken for granted. Whatever financial markets may be betting, they signaled that easing isn’t on the agenda for now.
WORLD
PBOC offers record $112 billion of cash as economy struggles
The People’s Bank of China offered commercial lenders 1.45 trillion yuan ($204 billion) via its medium-term lending facility — 800 billion yuan more than the expected maturity this month.
WORLD
Janet Yellen to visit China again in 2024, focusing on ‘difficult’ topics
“A significant portion of the agenda will focus on discussing difficult areas of concern with my counterpart,” Yellen said of her plans for a second trip to China as Treasury secretary. The remarks came in a speech Thursday evening in Washington to the US-China Business Council.
BUSINESS
ECB holds rates with inflation in retreat, but hastens bond exit
Officials said they’d accelerate the end of reinvestments under the PEPP bond-buying program, which will put all policy tools into tightening mode, even as fresh projections showed a weaker economy softening the inflation outlook
BUSINESS
Bank of England keeps interest rates unchanged at 5.25%
The Monetary Policy Committee voted 6-3 to keep its key policy rate at 5.25% for the third consecutive meeting, according to minutes of the decision released Thursday.
BUSINESS
Oil demand growth in India to taper in 2024 after bumper run
Oil demand growth in the key Asian market of India is set to slow next year as the spurt in consumption that followed the pandemic fades, echoing a slowdown in China and presenting a fresh headwind for prices.
BUSINESS
Adani’s new copper foray to further tighten world’s ore supply
The Kutch Copper Ltd. facility, with initial capacity of 500,000 tons a year, is slated to come online in March, boosting the country’s potential production of the metal by 80%.
WORLD
House Republicans authorize Joe Biden impeachment inquiry
The 221 to 212 party-line vote sets up a high-profile clash between Congress and the White House as the 2024 election approaches. Republican presidential front-runner Donald Trump has urged GOP lawmakers to step up the impeachment inquiry against Biden.
WORLD
Fed prepares to shift to rate cuts in 2024 as inflation eases
While Chair Jerome Powell said Wednesday policymakers are prepared to resume rate increases should price pressures return, he and his colleagues issued forecasts showing that a series of cuts would be likely next year.
BUSINESS
Sell S&P 500 in ‘Every Scenario’ looms as rally Is overheating
Even a slight push back from the Federal Reserve on interest-rate cuts could unravel the relentless stock rally since late October.
BUSINESS
Fed Rate cut expectations by March are ‘Optimistic’, Rajan says
The US Federal Reserve will probably want to see inflation come down further before easing policy and any expectations of interest rate cuts by March are “overly optimistic,” India’s former central bank Governor Raghuram Rajan said.
BUSINESS
Foxconn adds $1 billion to investment in giant Apple India plant
The world’s biggest assembler of iPhones plans to spend that amount on top of the $1.6 billion it earlier set aside for the 300-acre site close to Bengaluru’s airport, people familiar with the matter said.
WORLD
UK’s economy shrinks in October, signaling weak end to year
Gross domestic product fell 0.3% following a gain of 0.2% in September, the Office for National Statistics said Wednesday. The drop was the first since July and exceeded the 0.1% fall economists had forecast.
