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.
TRENDS
Searing heat wave boosts RBI case to wait on rate cuts
The nation’s weather office on Monday predicted hotter-than-usual temperatures across the country in the three-month period through June, with a high probability of heat wave episodes lasting as long as 10 to 20 days in certain regions.
BUSINESS
Tiger Global VC fund closes 63% below target with $2.2 billion
Last week’s final close of Private Investment Partners 16 fund marks the first time a Tiger venture pool attracted less cash than the vintage that preceded it.
BUSINESS
India’s searing heat wave boosts RBI case to wait on rate cuts
The nation’s weather office on Monday predicted hotter-than-usual temperatures across the country in the three-month period through June, with a high probability of heat wave episodes lasting as long as 10 to 20 days in certain regions.
BUSINESS
Popular FX derivatives market faces crushing blow in India
A new rule set to take effect on April 5 is expected to force out most of the market’s most active players, drying up volumes that reached $5 billion-a-day.
INDIA
India predicts searing heat in threat to lives, power supply
Heat waves are expected for 10 to 20 days in different areas during the three-month period ending June 30, against a normal of four to eight days, Mrutyunjay Mohapatra, director general of the India Meteorological Department, said at a briefing in New Delhi on Monday.
BUSINESS
Investors are unwinding the ‘buy India, sell China’ stocks trade
Lazard Asset Management, Manulife Investment Management and Candriam Belgium NV are paring exposure to India after a record-breaking rally. They’re pivoting to former favorite China, as Beijing’s support for its economy spurs a recovery in industrial profit and manufacturing.
WORLD
The US can’t let China dominate the small-drone market
A new law and Pentagon procurement program should help tilt the playing field back to level for domestic manufacturers
BUSINESS
Investors favor Japan during earnings, shunning China and India
This week’s earnings highlights include South Korean giant Samsung Electronics Co., Chinese spirits maker Kweichow Moutai Co. and Yaskawa Electric Corp., the Japanese manufacturer of industrial robots.
BUSINESS
Foreigners flocking to Indian bonds make a splash across markets
Foreign investors have pumped roughly 780 billion rupees ($9.4 billion) into eligible sovereign bonds since JPMorgan Chase & Co.’s landmark announcement in September and are beginning to climb up the ownership list.
WORLD
Iron ore sinks to 10-month low on gloom over China construction
The steelmaking material fell as much as 3.9% to $96.25 a ton in early trading on the Singapore Exchange. Prices have floundered since early January as investors adjust to weaker demand prospects from the real-estate sector.
WORLD
China factory activity expands for first time in six months
The official manufacturing purchasing managers index rose to 50.8 from 49.1 in February, the National Bureau of Statistics said in a statement Sunday. That beat the median forecast of 50.1 by economists in a Bloomberg survey and was the best reading since March last year.
INDIA
India, Korea and Japan to stay busy with IPOs while China stalls
New share sales across the region fell to $11 billion between January and March, the lowest tally for a quarter since early 2019, data compiled by Bloomberg show. The amount represents a 46% drop from the same period last year.
BUSINESS
Amazon brings new titles to India amid global cutbacks
The American streaming behemoth, which has been cutting back operations globally, continues to double down in the nation with more than 1.4 billion consumers and one of the fastest-growing entertainment markets that’s also rapidly consolidating.
BUSINESS
Xiaomi’s $8 billion rally at stake as costly EV bet makes debut
With a year-long EV price war going on in China, reception for the SU7 will likely dictate Xiaomi’s stock momentum after a 22% gain since a February low.
WORLD
Joe Biden says Arab states ready to recognize Israel in future deal
The presidents, though, were interrupted at least four times by pro-Palestinian protesters, highlighting the tensions within the party over Biden’s handling of Israel’s war with Hamas and the humanitarian crisis in Gaza.
BUSINESS
Adani Energy in talks with banks to borrow up to $600 million
Adani Energy Solutions Ltd is seeking credit facility to fund smart meter projects for electricity supply
TECHNOLOGY
Elon Musk’s X Is testing ‘Adult Content’ groups for users
Communities on X can be private, though it’s unclear if the social media network will ultimately require age verification for groups that feature adult content.
BUSINESS
Blackstone plans to invest $25 billion in India private equity assets over five years
The New York-based firm also intends to add 20 investment professionals to its asset management business in India and double its office space in Nariman Point in downtown Mumbai
BUSINESS
India’s ‘unbeatable’ bond valuations make them Vontobel top pick
Wall Street investors have been increasing exposure to Indian assets, attracted by one of the world’s fastest economic growth rates and a low correlation with global markets including other developing nations
BUSINESS
ANZ aims to open operation at India’s GIFT special economic zone
The multinational bank has applied to the International Financial Services Centres Authority for a license, said the people, who asked not to be identified as the information is private. Approval may be granted in the next few months following a due diligence process, they said.
WORLD
UBS to sell $8 billion loans to Apollo in revised SPG deal
Apollo will purchase $8 billion in senior secured financing facilities from UBS, according to a statement Wednesday. The two sides agreed to end an investment management agreement that was initially part of the transaction as well as a transition service agreement.
