WORLD
This is how Brazil, who also has 50% US tariffs like India, is countering Trump's levies
Brazil is taking action after US Treasury Secretary Scott Bessent canceled a trade meeting with Finance Minister Fernando Haddad this week
BUSINESS
National Investment & Infrastructure Fund seeks to double assets to $10 billion
The Mumbai-based fund, backed by the government alongside global investors, is capitalizing on a big funding gap in the urban infra sector
WORLD
Asia stocks pause after rally; yen gains on Scott Bessent's comments
The MSCI Asia Pacific Index fell 0.2% as Japanese stocks slid 1.1%
WORLD
Swiss may reduce F-35 purchase as US squeezes government
Negotiations between Swiss and US officials, including a phone call of Defense Minister Martin Pfister and his US counterpart Pete Hegseth, failed to sway the US to consider a fixed price, according to the government
BUSINESS
US Fed search continues with private sector candidates
Treasury Secretary Scott Bessent on Wednesday said the administration plans to consider around 10 candidates to replace Jerome Powell as chair
BUSINESS
Global oil markets face record supply glut next year, says IEA
World oil demand this year and next is growing at less than half the pace seen in 2023.
IPO
Blackstone’s Horizon Industrial Parks said to weigh India IPO
The company is in talks with banks about the proposed share sale and seeking an enterprise valuation of $4 billion
MARKETS
India is now least favored Asian stock market, BofA survey shows
In the most recent fund manager survey, 30% said they are underweight on India, followed by 20% for Thailand and 10% for Malaysia
WORLD
China’s property crisis hits new low with Evergrande delisting
The company, once China’s biggest developer by sales, will be removed from the Hong Kong stock exchange on August 25
WORLD
China’s $11 trillion stock market is staging a steady resurgence
Mainland households, flushed with record-high savings, are turning to equities for better returns as interest rates continue to drift lower
BUSINESS
Bessent dismisses China investing in US as part of a trade deal
Treasury Secretary Scott Bessent's comments point to the competition between the US and China over a range of issues, with tech and AI among the most high profile.
BUSINESS
Stocks advance to record on Fed rate-cut bets: Markets wrap
A gauge of Asian shares rose 0.7%, helped by a record for the Nikkei-225 index in Japan. Shanghai stocks jumped to their highest level since December 2021.
AUTOMOBILE
Maruti Suzuki doubles down on SUVs as small cars sale slides
The Indian unit of Japan’s Suzuki Motor Corp. plans to launch the vehicle on September 3 and hopes it will double its sales in the segment
BUSINESS
AI startup Perplexity makes $34.5 billion bid for Google’s Chrome browser
The unsolicited bid was sent to Alphabet Inc.’s Google on Tuesday morning, a Perplexity spokesperson said
BUSINESS
India tycoon partners US firm on $2 AI email rival to Outlook
The tie-up with Tempe, Arizona-based GoDaddy, one of the world’s largest web hosts, is expected to swell Titan’s user base beyond 10 million mailboxes worldwide in about four years
WORLD
India, China set to resume direct flights in sign of closer ties
Airlines in India have been asked by the government to prepare flights to China at short notice, with a possible official announcement as soon as the Shanghai Cooperation Organisation summit in China, said the people, asking not to be identified because the negotiations are ongoing.
BUSINESS
Mahindra boosts South Africa capacity as budget car demand jumps
Mahindra also sells sports utility vehicles in South Africa including the XUV 3XO, XUV 700, Scorpio-N and Bolero.
COMPANIES
Shapoorji eyes $1 billion debt payment in possible Tata exit
Shapoorji is aiming to settle the outstanding Rs 8,810 crore in bonds that were issued by Goswami Infratech Pvt. and mature in April next year
MARKETS
Japan’s Nikkei hits record high on tariff relief, tech rally
The blue-chip gauge climbed as much as 2.5% to 42,867.69, joining the Topix in surpassing July 2024 peaks
WORLD
Goh Cheng Liang, Singapore’s second-richest person, dies at 98
Goh founded Nippon Paint South East Asia, or Nipsea, which manages Asia Pacific’s biggest paint-making businesses
BUSINESS
VinFast bets on India, Indonesia to win global EV race after US, EU push falters
The opening of its first overseas assembly plant in India earlier this month is a crucial piece in billionaire owner Pham Nhat Vuong’s Asia pivot
BUSINESS
Ultra wealthy are piling into a centuries-old gold trade in Asia
Uncertainty over the status of gold in President Donald Trump’s sweeping tariff agenda has plunged the market into fresh turmoil in recent days
BUSINESS
Trump names Heritage’s EJ Antoni to lead US bureau of labor statistics
Trump appointed Antoni, who has been vocal about his concerns with BLS jobs data and revisions, in a Truth Social post. The position is subject to Senate confirmation
BUSINESS
Fed Chair search expands to include Bowman, Jefferson and Logan
