BUSINESS
Booming wheat exports from India to help ease global shortage
The country is the top global producer of wheat after China and has the potential to ship 12 million tons to the world market in the 2022-23 year, the most on record, according to the median of five estimates in a Bloomberg survey of traders, millers and analysts.
BUSINESS
China chip startup Biren seeking funds at $2.7 billion valuation
Founded in 2019, Biren is among a slew of upstarts that China is betting on as it tries to become a chip powerhouse and reduce its reliance on U.S. technology. The company focuses on areas such as graphics processing units, cloud computing and integrated solutions, according to its website.
BUSINESS
Goldman, JPMorgan strategists say equities can weather bond rout
“Recessions only started on average 16 months after the inversion in the spread, and never before,” JPMorgan’s strategists said.
WORLD
These are the Russian tycoon mansions on the French Riviera
The opulent mansions of Russian billionaires in Londongrad have already felt the sanctions blow. But farther south from the UK capital, in a coastal corner of the French Mediterranean, wealthy tycoons have also purchased sea-view real estate over the years.
BUSINESS
Indonesians rued against fried food as cooking oil prices rise
“The food today must showcase the cook’s creativity, use local ingredients and can’t use any cooking oil,” said Wiryanti Sukamdani, an official at Indonesian Democratic Party of Struggle, or PDIP, at a Monday food fair to showcase cooking methods without oil. PDIP is the largest party in parliament.
BUSINESS
China’s economy faces new blow from Shanghai lockdown
The staggered eight-day lockdown in Shanghai -- a city of 25 million people -- and lingering effects from the measure may shave up to 0.4 percentage point from China’s economic growth in the first and second quarter, compared to a year ago, according to estimates by Liu Peiqian, China economist at NatWest Group Plc.
BUSINESS
Business class, five-stars back as Indians splurge after COVID-19
“People are living their lives and splurging on travel,” Prashant Pitti, a co-founder of EaseMyTrip, said in an interview with Bloomberg Television on Monday. “It’s a shift which is happening for good, for long-term.”
BUSINESS
India asks power firms to import coal on electricity demand
The power companies need to resolve issues related to rising prices and stick to the power-purchase agreement, the Ministry of Power said in a statement on March 26.
BUSINESS
Bitcoin’s stealth rally erases its losses for the year
The token rose as high as $47,583 in early Hong Kong trading, well above the $35,000-to-$45,000 range where it’s been stuck since early January. With the fresh gains, Bitcoin is now up about 1.2% for the year, compared with a 4.7% decline for the S&P 500.
BUSINESS
Global bond rout accelerates sparking intervention from BOJ
Aussie three-year yields jumped as much as 12 basis points to 2.33%, the highest since December 2014, as the nation’s debt caught up with Friday’s tumble in Treasuries.
BUSINESS
Joe Biden seeks to temper remark on Vladimir Putin as US allies object
French President Emmanuel Macron and the U.K. government distanced themselves from Biden’s stunning comment, which capped a speech in Warsaw to rally support for Ukraine against Russia. One administration official suggested Biden was influenced by stories of suffering he heard from Ukrainian refugees.
BUSINESS
Shanghai locks down half the city to nail growing COVID-19 outbreak
At 5am on Monday, the city of 25 million people locked down areas east of the Huangpu River, which includes its financial district and industrial parks, for four days. The lockdown then shifts to the other half of the city, in the west, for another four days, according to a statement Sunday from the local government.
BUSINESS
Treasury selloff sends yields racing past limits of bullish era
With the Federal Reserve poised for an aggressive cycle of interest-rate hikes, 10-year yields have surged to nearly 2.5%, the highest since May 2019 and up more than a full-percentage point since early December
BUSINESS
A solar microgrid brought power to a remote village, then darkness
In 2017, the national government and Millennium Challenge Corp., a foreign-aid arm of the U.S., began installing micro electric grids to give residents access to a constant electricity flow for the first time.
BUSINESS
High-velocity market swings have roots in economic boom thesis
Stiffening hawkishness at the Federal Reserve started out as a reason to panic in risk markets.
WORLD
Trump holds Georgia rally in effort to retain GOP kingmaker role
Donald Trump held the rally in North Georgia, a Republican bastion, about 70 miles northeast of Atlanta.
WORLD
Biden calls for Putin’s removal in risky escalation over Ukraine
Joe Biden took the stage in Warsaw on March 26 evening to deliver one of the most consequential speeches of his presidency.
BUSINESS
India aviation on growth path as waning covid pain lures fliers
The travel recovery in India has already helped IndiGo, India’s top airline, and SpiceJet Ltd., both of which posted surprise profits in the quarter through December.
BUSINESS
Temasek joining Mohalla funding round at $5 billion value
The Bangalore-based firm is in advanced talks with Singapore state investor Temasek Holdings Pte and Indian digital media group Times Internet Ltd.
BUSINESS
China economy faces worst slowdown since pandemic: Nomura
The slowdown in China’s growth worsened in the first quarter and markets should be concerned about a further slide in the second.
BUSINESS
IPO market plunges 70% as higher rates, war curb risk appetite
About $65 billion has been raised via IPOs around the world in 2022, down 70% from $219 billion in the first three months of last year.
BUSINESS
The future of energy will require bigger sacrifice from citizens
The need for more energy conservation has snowballed. The war in Ukraine is forcing Europe to curb dependence on Russian energy. The post-pandemic economic recovery is creating power shortages in China. The rapid shift to renewables, extreme weather events and sky-high fuel prices are stretching grids from Texas to Pakistan.
BUSINESS
A novel approach to startup recruiting: Lower the stock price
BUSINESS
Sony to unveil PlayStation subscription as soon as next week
The service, which has been in development under the codename Spartacus, is Sony’s answer to Microsoft Corp.’s Xbox Game Pass, a sort of Netflix for video games that has amassed more than 25 million subscribers.
