BUSINESS
Traders puzzled why RBI spends billions fighting stronger Dollar
Volatility in the rupee is hovering near the lowest in almost two decades and the currency has managed to avoid breaching a record low even as rising US rates wreaked havoc in emerging markets.
BUSINESS
Jeff Bezos buys his Florida neighbour’s mansion for $79 million
Bezos bought the neighboring home in June for $68 million. With the latest purchase, he’ll gain a roughly 1.8-acre (0.7-hectare) property that was built in 2000.
BUSINESS
US consumer prices rise at brisk pace for second straight month
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% last month, Bureau of Labor Statistics data showed Thursday.
MARKETS
Stock Buying by Domestic Funds in 2023 Exceeds Foreign Inflow
Powered by continued inflows from retail investors, equity purchases by local institutions — including mutual funds and insurers — have climbed to $16.5 billion for the year thus far.
BUSINESS
AirAsia operator seeks $200 million from private credit for loan
The loan will be in the form of a revenue bond, with investors to be paid out of ticket sales from ten AirAsia flight routes, the people said, declining to be identified because the matter is private. A representative of the company declined to comment.
WORLD
US dollar heads for longest losing streak since 2020
The Bloomberg Dollar Spot Index fell for a seventh day after a recent chorus of commentary from Federal Reserve officials including Governor Christopher Waller suggested they may refrain from tightening further.
WORLD
Dubai’s record rental surge is slowly starting to moderate
While rents continue to increase at eye-popping levels, the rate of the surge is finally moderating in some of the city’s most popular neighborhoods, according to CBRE Group Inc. Rents had climbed to record rates following an influx of newcomers to the Middle Eastern financial and business hub.
WORLD
Meta platforms sued by virtual reality yoga app developer
Meta cancelled Elijah’s AEI Fitness app days before its unveiling at Meta Connect, the world’s biggest VR conference, which he says would have propelled it to the top of the VR fitness app market, eventually reaping him tens of millions of dollars.
BUSINESS
Top-performing fund says small-cap IPOs offer value
“A few IPOs in the small-cap space that have come in last 6-9 months have quality businesses,” Janakiraman Rengaraju, a Franklin Templeton portfolio manager, said in an interview. “We have tried building positions in some of them as a part of our portfolio redeployment.”
WORLD
Fed minutes flag high rates for ‘some time’ while risks shift
“Participants generally judged that, with the stance of monetary policy in restrictive territory, risks to the achievement of the committee’s goals had become more two-sided,” according to minutes of the September meeting, released in Washington Wednesday.
WORLD
Janet Yellen Says US Is Not Ruling Out New Sanctions Against Iran
Following the surprise Oct. 7 attack on Israel by Hamas militants, for which Iran has voiced its approval, speculation has grown over whether the US would tighten its restrictions on Iranian oil exports.
BUSINESS
Aster’s India unit draws suitors valuing business at $1.5 billion
BPEA EQT and OTPP have expressed preliminary interest in the hospital operator’s business in the South Asian nation, the people said.
BUSINESS
India set to restrict sugar exports in threat to global supply
The South Asian nation is likely to curb shipments during the new season that started Oct. 1, and a decision will be made soon, said people familiar with the matter who asked not to be identified as the talks are confidential. Quotas for some overseas sales can be issued if domestic supply improves, they said.
BUSINESS
Gold price slump may boost demand from India’s festive shoppers
Strong purchases during the October-December festival period, considered an auspicious time to own and wear gold, may underpin the global market.
BUSINESS
Rice market braces for more stress as El Niño starts to bite
The market has already been upended by export restrictions from top shipper India and drier weather from El Niño threatens to cause more chaos.
BUSINESS
Global funds exit EM Asia stocks in longest streak in 16 months
Global investors have sold $16.2 billion worth of stocks in the region since Sept. 4, set for the longest weekly selling stretch in about 16 months, according to data compiled by Bloomberg. The exodus has been led by India, and tech-heavy markets of Taiwan and Korea.
BUSINESS
PM Modi weighs giving small farmers more cash support before polls
The government is weighing options to raise the annual direct cash transfer to small farmers to 8,000 rupees ($96) from 6,000 rupees, according to two officials familiar with the discussions, who asked not to be identified as the matter is still under consideration.
WORLD
Finland gas pipe leak probe proceeds on premise of sabotage
There are no final conclusions, the people said. Officials are expected to give more details on the investigation later on Tuesday. European gas prices rose as much as 12.5%.
WORLD
Cyberattacks Targeting Israel Are Rising After Hamas Assault
Killnet, a group that purports to be made of up patriotic Russian volunteer hackers, announced on Sunday that it would target all Israeli government systems with distributed denial-of-service attacks, a type of cyberattack known as DDoS that floods websites with traffic and forces them offline.
WORLD
‘Modest’ China Stimulus May Bolster Growth Goal, Analysts Say
That’s according to economists and analysts after Bloomberg News reported policymakers are weighing the issuance of at least 1 trillion yuan ($137 billion) of additional sovereign debt for spending on infrastructure.
BUSINESS
Adani’s $3.5 billion Ambuja loan is moving ahead
The three banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc, said the people, asking not to be identified when discussing a private matter.
WORLD
Egypt weighs impact of Israel gas-field halt on LNG exports
The stoppage means Egypt’s imports of Israeli gas have declined by about 20% to around 650 million cubic feet per day, they said, asking not to be identified as they’re not authorized to speak publicly on the issue.
WORLD
One bond market is defying the global selloff with record returns
Investors in the $40 billion market for so-called cat bonds have literally been sitting out the storm to reap returns as high as 16% this year.
WORLD
Larry Summers ‘sickened’ by Harvard’s silence over attack on Israel
“The silence from Harvard’s leadership, so far, coupled with a vocal and widely reported student groups’ statement blaming Israel solely, has allowed Harvard to appear at best neutral towards acts of terror against the Jewish state of Israel,” Summers said on X, formerly known as Twitter.
