BUSINESS
Asian stocks drop, oil rises on Russia sanctions
China’s economic numbers will offer investors further evidence of the challenges facing the world’s second largest economy.
BUSINESS
Italy’s steelmaker gets offers from Baku Steel, Jindal, Bedrock
Italy’s Industry Minister Adolfo Urso said the interest 'confirms we are on the right track to relaunch' Italy’s steel sector. 'This is the decisive phase,'
WORLD
This country has beaten Egypt, known for pyramids, as Africa's top tourist destination
In 2024, the country received a total of 17.4 million visitors, according to its ministry of tourism
BUSINESS
India, China refiners seek alternatives on concerns over fresh Russia oil sanctions
This week, two Indian state refiners bought up to 6 million barrels of Oman and Abu Dhabi’s Murban crude for prompt loading in February
WORLD
Trump tariff fears pushing global rates higher, IMF chief says
Uncertainty about the incoming administration’s trade policies is adding to worldwide economic headwinds, Kristalina Georgieva
WORLD
Zuckerberg says most companies need more ‘masculine energy’
The Friday episode marked Zuckerberg’s second appearance on The Joe Rogan Experience
TECHNOLOGY
Apple CEO pay rises 18%; company opposes anti-diversity measure
Cook’s compensation grew to $74.6 million in 2024, compared with $63.2 million the prior year, Apple said in its annual proxy filing on Friday
WORLD
Carney poised to enter race to replace Trudeau as Canada’s prime minister
Carney is preparing an announcement for late next week now that the party has set out the rules of the contest
WORLD
OpenAI, Meta, Uber CEOs to attend Trump inauguration events
The prospect of a second Trump term has raised a new set of uncertainties for the rapidly evolving AI market and the wider tech industry
WORLD
S&P 500 hit in worst day since ‘post-Fed tantrum’
A 1.5% slide in the S&P 500 Friday wiped out its advance in the nascent year
BUSINESS
Rupee may fall past 90 per dollar as RBI ditches quasi-peg, research says
A bigger depreciation of around 10%, taking the rupee to 95 is “not out of the question,” analysts Udith Sikand and Tom Miller wrote in a note.
WORLD
Prada could be weighing purchase of Versace: Report
The luxury house is working with adviser Citi to decide whether to pursue a deal, Sole said, citing market speculation
WORLD
'If there is a better deal': Greenland eyes benefits in Trump's proposal amid push for independence
Greenland’s new international prominence is helping drive its independence movement, which has grown alongside resentment toward Denmark
BUSINESS
Vedanta seeks $450 million to repay top-performing junk bonds
First Abu Dhabi Bank PJSC, Barclays Plc, Mashreqbank PSC and Standard Chartered Plc are among the lenders in discussion with the borrower to provide the loan
CURRENCY
Options pricing suggests rupee is likely to weaken further
There’s a nearly 60% likelihood of the rupee falling to 87 per dollar, compared with just an 9% chance of it recovering to 84 by the end of March
BUSINESS
Tata Capital eyes first dollar bond amid India shadow bank rush
The financial services unit of the Tata Group, the conglomerate spanning industries from coffee to cars, is planning to issue a benchmark-sized note with a 3.5-year maturity
INDIA
India, Indonesia set for travel ‘bonanza’ as middle classes grow
Asia has seen a rather slow post-pandemic recovery compared to other parts of the world, held back by sluggish growth in its biggest economy, China
WORLD
Donald Trump says meeting with Putin is being arranged
Trump has said he wants to bring about an end to Russia’s war on Ukraine even before he takes office for his second presidential term
BUSINESS
PBOC says it will temporarily halt buying of government bonds
China government bond yields rose across the curve following the statement, with five-year rate climbing eight basis points and 10-year rate gaining four basis points to 1.675%. The offshore yuan edged 0.1% higher.
ECONOMY
India infrastructure lender plans up to $4.7 billion fundraising
India needs $2.2 trillion of investment in infrastructure to increase the size of its economy to $7 trillion by 2030, Knight Frank said in a report in December
WORLD
Asian stocks slip with US jobs data in focus
The MSCI EM stock index entered a correction after declining by more than 10% from a high in October, reflecting uncertainty over US policies and China’s growth prospects.
BUSINESS
Wall Street job losses may top 200,000 as AI replaces roles
Citi said in a report in June that AI is likely to displace more jobs across the banking industry than in any other sector. About 54% of jobs across banking have a high potential to be automated, Citi said at the time.
BUSINESS
UK market selloff deepens with Pound falling to lowest in year
The pound dropped to a more than one-year low, stocks fell and gilts extended a fourth day of losses on concern the Labour government will struggle to keep the deficit in check as borrowing costs surge
BUSINESS
Bearish Rupee bets drive hedging costs to highest since 2022
Dollar-rupee three-month offshore forward points, the cost of locking in forward dollar purchases, touched levels last seen in November 2022 on Thursday.
