BUSINESS
Mirae Asset says India may cut borrowing on less spending time
India’s seven-phase election that started in April is nearing an end, with results due on June 4.
WORLD
China’s Xi Pledges to Make Youth Employment a Top Priority
Unemployment among 16- to 24-year-olds hit a record high last summer, before Beijing changed the counting method to exclude students, which it said reflected a more accurate picture of unemployment.
BUSINESS
India to stick to policy path even if PM Modi loses: Raghuram Rajan
India’s six-week elections comes to end on June 1, with results expected on June 4.
BUSINESS
India’s top EV ride-hailer seeks $300 million to expand car fleet
The company will increase its Indian fleet of electric vehicles — supplied by Tata Motors Ltd., BYD Co., SAIC Motor Corp.’s MG Motor and Stellantis NV’s Citroën — to 13,000 by March from 7,500 currently, Punit Goyal, co-founder of the BP Ventures-backed startup, said in an interview. In three years, it aims to have 25,000 cars, he said.
WORLD
Wall Street returns to T+1 stock trading after a century
That was the last time share trades in New York settled in a single day, as they will from Tuesday under new Securities and Exchange Commission rules.
WORLD
China chipmakers are catching up fast in AI, SenseTime’s Xu says
Asia has a shortage of computation power for artificial intelligence, lagging significantly behind the US, but China has the talent and data to make up lost ground, Xu said in an interview at the UBS Asian Investment Conference in Hong Kong.
BUSINESS
Citi sees rupee a favorite in Asia as India joins key bond index
The currency’s strong fundamentals, a narrowing current account deficit, and growing expectations on inflows around India’s inclusion into a global bond index are adding to its appeal, said Nathan Venkat Swami, head of foreign exchange trading in Asia Pacific.
BUSINESS
Vedanta is said to weigh $1 billion share sale as soon as June
Vedanta may raise the funds through a type of share sale known as a qualified institutional placement, once approved to do so by shareholders, the people said
WORLD
Xi Jinping tells politburo China needs financial regulations with teeth
Xi told the 24-member decision-making body that the new rules will strengthen the Communist Party’s leadership in the financial sector, according to the official Xinhua News Agency.
BUSINESS
Indian bonds best Asia bet for JPMorgan asset before inclusion
The firm added bonds in April when the yield on the benchmark 10-year bond rose above 7.15%, Julio Callegari, chief investment officer of Asia fixed income, said in an interview. It took some profits off Chinese government notes in the month, he added.
BUSINESS
Reliance Industries' Mukesh Ambani sets sights on Africa with telecom venture
NGIC, which is planning to begin operations by the end of this year, will provide 5G broadband services to mobile operators and internet services providers in Ghana.
WORLD
India, Indonesia stand out for EM investors in aging world
The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries’ economies.
INDIA
India’s scorching summer brings earnings boost for these stocks
Varun Beverages Ltd. and Havells India Ltd. are among eight producers of aerated drinks, power generators and appliances such as refrigerators and fans that have seen an average increase of 6.3% in their 12-month ahead earnings per share estimate since early April, data compiled by Bloomberg showed.
WORLD
Biden to end tariff exclusions on hundreds of Chinese products
The US will allow tariff exclusions to expire on about half of 400 products that had been spared, USTR said on Friday.
TECHNOLOGY
Community notes could come to news and other platforms: CEO of X says
Since buying the site in 2022, owner Elon Musk has pushed the tool as a bulwark against misinformation - and occasionally as a viable alternative to mainstream journalism
BUSINESS
Rupee gains by most in 5 months on stocks, RBI dividend
Rising foreign-exchange reserves are also supporting the rupee. India’s dollar stockpile rose to a record-high $648.7 billion as of May 17, according to data released Friday.
BUSINESS
India’s index-eligible bonds set for best performance in a year
The so-called Fully Accessible Route notes, which have no restrictions for foreigners, returned 1.3% in May so far, according to a Bloomberg index. If that result holds, it would be the best monthly performance since April 2023.
INDIA
Rotten bananas in a scorching India expose climate's food cost
India wastes nearly 80 million tons of food at the retail and consumer level, second only to China. As climate changes exacerbates extreme heat, the numbers are likely to worsen in South Asia, one of the most vulnerable regions to rising temperatures.
BUSINESS
Musk’s xAI nears close of deal valuing startup at $24 billion
The company was slated to wrap up a roughly $6 billion financing earlier this month, but the final close still hasn’t happened in the deal, which has been in motion since last year.
WORLD
More than 100 dead in Papua New Guinea landslide: Report
The disaster occurred about 3 a.m. local time when the side of a mountain gave way, hitting Kaokalam Village in Enga Province, about 600 kilometers (370 miles) northwest of the capital, Port Moresby, the ABC said.
TRENDS
Six trends that will change the way you travel this summer
Globally, tourist visitor numbers look to finally return to pre-pandemic levels this year, according to recent research from the World Economic Forum.
BUSINESS
Adani Enterprises stock erases over $30-bn losses spurred by Hindenburg report
The stock clawed back losses of more than $30 billion that came after US-based Hindenburg Research alleged wide-ranging corporate malfeasance and share-price manipulation at the ports-to-power conglomerate in January 2023. The group has repeatedly denied those allegations.
WORLD
Singapore Air changes seatbelt rules after fatal turbulence
In-flight meal service will be halted when the seatbelt sign is switched on, in addition to the suspension of hot drinks, the airline said in a statement. Crew members will also return to their seats and strap themselves in.
COMPANIES
Tata Power seeks up to $1 bn loan for clean energy projects
India’s largest local currency loan so for this year was Assam Bio Refinery Pvt.’s deal of $365 million in February. If Tata Power’s planned borrowing finalizes with a size anywhere near $1 billion, it would take that title.
