BUSINESS
Spot gold rises to record on dovish Fed remarks
The precious metal surged more than 3% in early trading on Monday, surpassing the previous all-time high it set on Aug. 7, 2020, before paring much of those gains.
WORLD
World Bank focuses on securitization to scale climate finance
Ajay Banga, the World Bank’s president, said the Private Sector Investment Lab is focused on "figuring out a model of originate-to-distribute" that would allow for deep-pocketed investors to put up large sums for climate deals.
WORLD
Russian billionaire uses COP to push revival of woolly mammoths
At a lavish pavilion at the COP28 climate summit in Dubai, Melnichenko is showcasing a plan to bring a slice of Russia’s ecology back 14,000 years.
WORLD
Nine dead in Peru’s Poderosa mine after armed men raid: Ministry
Peru's national police regained control of the gold mine in the province of Pataz, seized weapons, and detained seven suspects of the deadly attack, carried out with explosives, the report said.
WORLD
Exxon among 50 oil producers in controversial Climate Pact at COP28
The deal will be controversial given none of the companies are agreeing to reduce oil and gas production.
BUSINESS
India re-emerges as Venezuelan oil buyer as US sanctions ease
India is set to restart imports of Venezuelan oil after a three-year hiatus, according to brokers and shipping fixtures, as it rushes to take advantage of a US move to ease sanctions on the South American nation.
BUSINESS
UAE aims for COP28 finance splash with $30 billion climate fund
The United Arab Emirates, host of the COP28 climate summit in Dubai, will put $30 billion into a new climate finance fund aimed at improving the flow of money into projects to reduce emissions, especially in the Global South.
BUSINESS
Wealth and pension funds prefer India over China, study shows
Global pension and sovereign wealth managers are flocking to India while growing hesitant on China, according to a new study.
BUSINESS
Bitcoin rally pushes token to highest level of 2023
Prices of other digital assets tracked by Bloomberg were up. Bitcoin’s jump constitutes the token’s highest value since May 5 last year
BUSINESS
India small-cap stock gauge nears key hurdle on seasonal support
The Nifty Smallcap 100 Index has rallied 47% so far this year and is headed for a formidable upside barrier, represented by the upper-end of a long-term rising channel which has its origin at the 2009 low.
BUSINESS
Barclays, Citi raise India’s growth closer to 7% after GDP beat
Barclays Plc and Citigroup Inc. predict the economy will now expand 6.7% in the fiscal year ending in March, up from previous forecasts of 6.3% and 6.2%, respectively. Several other analysts also bumped up their estimates.
WORLD
Meta says there’s been no downside to sharing its AI technology
Over the past few months, Meta has been releasing open-source versions of its large language models — the technology behind AI chatbots like ChatGPT.
BUSINESS
JPMorgan touts Mexico, India in ‘bumpy’ 2024 for emerging stocks
The New York-based bank’s prognosis comes as developing-nation equities head for a sixth successive year of underperformance versus the US benchmark — the S&P 500 Index.
BUSINESS
OPEC+ agrees on 1 Million barrels of additional oil-output cuts
OPEC+ members agreed to make 1 million barrels a day of additional oil-supply cuts to go alongside Saudi Arabia’s much-anticipated extension of a voluntary reduction of the same size.
WORLD
Renewables are likely to be COP28 bright spot as 1.5C hopes fade
To help cut through the noise, BloombergNEF has identified 10 areas where governments need to make headway at COP28 in order to take a meaningful step toward the goals of the Paris Agreement.
WORLD
Stability AI explores sale as investor urges CEO to resign
The London-based firm has presented itself as an acquisition target in recent weeks, and held early-stage conversations with multiple companies, according to several people familiar with the matter, who asked not to be identified because the discussions were private.
WORLD
Israel and Hamas extend their war truce for another day
Israel’s military confirmed the cease-fire would continue beyond this morning, without giving a timeline.
WORLD
What we need to talk about when we talk about AI
Currently, the term lacks precise definitions, making predictions of AGI’s arrival and impact simultaneously both unnecessarily alarmist or insufficiently concerned.
WORLD
Airlines are watching one number, and willing it to rise
Passenger load factor, a commonly used measure that shows the percentage of capacity utilized, stands at 81.3% in Asia for the year through to the end of September.
BUSINESS
Bharti Telecom plans its biggest-ever rupee bonds
The company is expected to seek bids this week for notes due in two-, three- and five years, the people said, who asked not to be identified as the details are private. If the deal goes through, it will be Bharti Telecom’s largest ever rupee issuance, according to data compiled by Bloomberg.
BUSINESS
Nestle says India and China are ‘big focus’ for coffee growth
Nestle’s presence in Asia includes instant coffee operations in Vietnam, which is the world’s biggest producer of robusta beans.
BUSINESS
India gold prices at all time high 62600
Governor Christopher Waller, one of the most hawkish Fed officials, said policy is well positioned to return inflation to the central bank’s 2% goal, suggesting policymakers may not need to raise rates again. India gold prices at all time high 62600
WORLD
Dollar slides, treasuries extend gains on Fed bets
The US currency fell for a fifth day as it weakened against all its Group-of-10 peers and most emerging-market counterparts. The New Zealand dollar jumped after the country’s central bank signaled there’s an increased risk it could hike again next year.
INDIA
India to add $5 billion aircraft carrier to fleet to counter China
The Defense Acquisition Council — the country’s top defense decision making body headed by defense minister, Rajnath Singh — is expected to clear the acquisition of its second indigenous carrier on Friday, people with direct knowledge of the development said, asking not to be named because the discussions are private.
