WORLD
China scoops up cheap Indian iron ore in bid to trim steel costs
India will continue to sell about 3 million tons a month to global markets for rest of the year, CRU Group said.
WORLD
Goldman CEO David Solomon dismisses calls to end ties to fossil-fuel firms
Last year, the vast majority of energy in the world came from fossil fuels, and emissions grew, Solomon said, adding that “we recognize there needs to be a transition over time but that transition is going to take time.”
WORLD
TikTok shopping ambitions face blow as Indonesia plans curbs
Indonesia is prohibiting social media companies from facilitating direct e-commerce payments on their platforms, Trade Minister Zulkifli Hasan said Monday.
BUSINESS
JPMorgan adding India bonds will see public finances scrutinized
JP Morgan Chase & Co.’s plan to include Indian government bonds to its emerging markets bond index next year will draw scrutiny from foreign investors on public finances, particularly on efforts to cut the budget deficit.
ENTERTAINMENT
Bollywood, cricket hold promise for media stocks after rally boosts valuations
Media-related stocks have been all the rage in India, thanks to a mega merger involving a unit of Japan’s Sony Group Corp., and the return of Bollywood blockbusters. Investors are now weighing the sector’s pricey valuations against the potential for future growth.
WORLD
AI, robots and satellite sensors are helping in the fight against wildfires
This year has been a challenging one for Phil Schneider, who hasn’t seen wildfire behavior like this in his 47-year firefighting career.
WORLD
OpenAI gives ChatGPT the ability to speak in five different voices
The feature will be available to people who subscribe to OpenAI’s $20-per-month ChatGPT Plus service and enterprise users.
WORLD
Amazon to invest as much as $4 billion in AI startup anthropic
As part of the deal, Anthropic will move most of its software to Amazon Web Services data centers, and use the cloud computing company’s homegrown chips to train the models it uses to power chatbots and other applications.
BUSINESS
Foreigners set for bigger play in $1 trillion India bond market
That is set to change after JPMorgan Chase & Co. Thursday became the first global index provider to include them on its emerging markets index. The decision sets the stage for billions of dollars of inflows just when the bond market is straining under record government borrowings.
WORLD
China installs barrier in disputed sea shoal, Philippines says
The floating barrier which measures about 300 meters (328 yards) was installed by three inflatable boats of the Chinese Coast Guard and a service boat of the Chinese maritime militia, according to the post.
WORLD
Chinese gold buying is driving a paradigm shift in bullion
Gold is the quintessential “anti-dollar” — a place to turn for those who distrust fiat currency — so it seemed natural that prices would rise in a world of low real interest rates and cheap dollars. Or when rates went up, gold, which pays no yield, naturally became less attractive, sending prices tumbling.
WORLD
Capcom sees game sales in India passing those in China in decade
Key to the Osaka-based company’s strategy are securing local tie-ups to lift the profile and sales of its PC games in emerging markets and expanding its offerings of console-quality titles to smartphones, the 58-year-old executive said in an interview. India is a focus area, he said.
WORLD
China’s PLA warns cadres about socializing with ‘wrong people’
Chinese military cadres should “purify their social circle,” a commentary published by the state-run PLA Daily said on Friday, without elaborating on the leaders who were removed from their posts.
BUSINESS
Hollywood studios, writers near deal but AI issue lingers
The studios have agreed to staff a certain number of writers on their TV shows, a figure that will increase with the number of episodes in a season.
INDIA
India rice export ban is fueling risk of social unrest, UN says
The export ban is bringing back memories of 2008, when a global rice crisis put 100 million people at risk, many in sub-Saharan Africa. Back then, both Vietnam and India restricted exports.
BUSINESS
Goldman sees India bond inclusion spurring $40 billion inflows
India’s addition to the index is a keenly awaited event, pointing to the growing appeal of the country to foreign investors looking to diversify their portfolios.
BUSINESS
Petronas nears $1.6 billion deal for India’s AM Green unit stake: Sources
Petronas is in advanced talks to buy about a 25% stake in the unit, which may be valued at around $6 billion in a deal, the people said
SCIENCE
Largest Asteroid Sample Ever Collected Is Coming Down to Earth on Sunday
It’s a moment more than a decade in the making for a NASA mission called OSIRIS-REx. Its goal was to scoop up a large sample of rocks and dust from a near-Earth asteroid named Bennu and bring it to our planet to study.
WORLD
Lachlan Murdoch inherits media empire and daunting task as Rupert retires
Murdoch’s media empire, which he built over seven decades, has long been seen as a giant, with enormous influence over news, entertainment and politics.
WORLD
Bill Ackman sees long-term rates rising further, remains short bonds
“The long-term inflation rate plus the real rate of interest plus term premium suggests that 5.5% is an appropriate yield for 30-year Treasurys,” Ackman, the billionaire founder of Pershing Square Capital Management, posted on X, the social platform formerly known as Twitter.
BUSINESS
Thirty buyers snapped up 8,000 South Korea homes in five years
The 30 buyers spent a total of nearly 1.2 trillion won ($900 million) for purchases between 2018 and June 2023, according to Min Hong-chul, a lawmaker of the main opposition Democratic Party, based on data submitted from the land ministry.
WORLD
Europe’s biggest economies ended Q3 in contraction
While the downturn eased in Germany, it deepened in France, according to business surveys released by S&P Global on Friday. Economists had expected momentum in both countries to remain broadly stable.
WORLD
Alibaba’s Cainiao plans to raise at least $1 billion in Hong Kong IPO soon
The company is targeting to raise at least $1 billion in the share sale though it’s still early to decide on the valuation, said the people, who asked not to be identified as the information is private. No final decision has been made and details could still change, the people said.
BUSINESS
India may keep door shut on crypto for two years, says WazirX
Indian officials last year imposed a 1% levy — known as TDS — on crypto transactions, causing trading volumes at exchanges to crash as market makers and high-frequency investors pulled back due to higher costs.
