BUSINESS
India seeks $100 billion a year in FDI as it woos China hedgers
The ambitious target compares with an annual average of more than $70 billion in FDI in the five years through March 2023 and would be a reversal in trend after last year’s decline. Singh said that the figure for the current fiscal year will be “closer to” the $100 billion target.
WORLD
Thailand leads push for six-nation visa to lure moneyed tourists
The facility is meant to ensure seamless mobility for travelers among the six neighboring countries.
BUSINESS
Vishal Mega Mart said to pick Kotak, ICICI for mega IPO
Vishal Mega Mart chose Kotak Mahindra Bank Ltd. and ICICI Bank Ltd to help arrange a share sale as early as in the fourth quarter of this year, the people said, asking not to be identified because the deliberations are private.
BUSINESS
Mark Zuckerberg’s wealth exceeds Elon Musk’s for the first time since 2020
Elon Musk, who ranked first on the Bloomberg Billionaires Index as recently as early March, fell to fourth after Reuters reported Tesla Inc. had canceled plans for a less-expensive car, sending shares lower
INDIA
India’s hot summer creates winners in its pricey stock market
The coming months will also see hundreds of millions of voters attend campaign rallies and head to the polls in a parliamentary election that lasts for weeks starting mid-April.
WORLD
Saudi Arabia hikes key oil prices Further as market tightens
State-owned Saudi Aramco raised the official selling price of Arab Light crude for Asia to a premium of $2 a barrel to the regional benchmark for May sales, according to a price list seen by Bloomberg.
WORLD
The Sheikh who dominates one of the world’s hottest stock markets
Royal family member Sheikh Tahnoon bin Zayed Al Nahyan—one of Abu Dhabi’s two deputy rulers, national security adviser of the UAE and brother to its president—dominates just about every part of its business.
BUSINESS
Tesla heavily discounts cars piling up in its inventory
The automaker offers consumers two ways to buy new vehicles online: to place custom orders, selecting the vehicle type, paint color, wheels and other options, or to peruse pages where Tesla lists the cars it has in inventory.
WORLD
Apple cut at least 600 workers when car, screen projects stopped
The Cupertino, California-based company filed eight separate reports to the state to comply with the Worker Adjustment and Retraining Notification, or WARN program. Companies must file a report to the state agency for each California address that includes employees affected by a layoff.
BUSINESS
India says up to Tesla to lay down EV plant investment plans
BUSINESS
Ray Dalio defends his decades-long investment in China
Ray Dalio said China’s problems are manageable now if 'Chinese leaders do their job well by being both smart and courageous'
WORLD
Elon Musk says he’s boosting Tesla pay to stop OpenAI from poaching
Elon Musk was responding to an Information report about Tesla AI scientist Ethan Knight leaving the car company to join Musk’s xAI startup. “Ethan was going to join OpenAI, so it was either xAI or them,” Musk said.
WORLD
Ex-BofA veteran Omar Davis handling Vedanta group overhaul steps down: Report
The group had clinched a deal with creditors in January to extend the maturities of three dollar bonds.
WORLD
Saudi Crown Prince MBS’ $100 billion foreign investment quest falters
The first electric cars assembled in Saudi Arabia with Lucid Group Inc. twinkled under factory spotlights, designed to show the world how a kingdom built on oil could draw in foreign capital to become a global hub for the industries of the future.
BUSINESS
PAG-backed Nuvama Group eyes middle east for $400 million
The Mumbai-based firm is targeting 40 billion rupees ($479 million) for its latest Nuvama Crossover IV fund and expects to raise at least $300 million from family offices and rich individuals in the Middle East, according to Anshu Kapoor, president and head of the business.
WORLD
Copper rises to 14-month high as Jerome Powell affirms Fed rate stance
Copper touched $9,380 a ton, the highest intraday level since late January 2023, following a 3% surge on Wednesday after a gauge of Chinese manufacturing came in better-than-forecast.
WORLD
Influx of asylum seekers surprises Canada and cities bear the cost
In Peel, a suburban region in greater Toronto, the shelter system is running at 300% of capacity, with asylum-seekers occupying more than 70% of the beds and many more camping on the streets, according to Patrick Brown, the mayor of Brampton, Ontario.
WORLD
Apple explores home robotics as potential ‘next big thing’ after car fizzles
Engineers at Apple have been exploring a mobile robot that can follow users around their homes, said the people, who asked not to be identified because the skunk-works project is private.
TRENDS
Spotify is changing how it charges customers, with new plans and prices
The streaming giant will increase prices by about $1 to $2 a month in five markets by the end of April, including the UK, Australia and Pakistan, according to people familiar with the matter
BUSINESS
Indian Oil Corp in talks with NPCIL for small modular reactors
As several bigger projects face delays, policymakers are promoting small-scale nuclear technology with a capacity of up to 300 megawatts, which is quicker to build and easier to adjust to the requirements of the grid.
BUSINESS
Coal miner NLC India plans $720 million sale of renewables unit
The NLC sales come as New Delhi seeks to raise 500 billion rupees via selling assets in the fiscal year that began April 1, according to the interim budget presented by Finance Minister Nirmala Sitharaman in February.
WORLD
Taiwan’s tech, building upgrades help blunt damage from quake
The quake measured 7.4 in magnitude and struck the east coast of Taiwan early Wednesday, killing at least seven people and injuring more than 800.
BUSINESS
Pimco boosts bond bets that fed will cut less than global peers
The Pimco International Bond Fund has gained 1.3% this year through April 1, beating its benchmark and most peers, data compiled by Bloomberg show.
BUSINESS
China eases car loan rules in new bid to boost consumption
The new rules follow a pledge last month from the head of the National Financial Regulatory Administration to promote consumption by making it easier to get car loans.
