BUSINESS
Adani’s next big test is a $2 billion airport for crowded Mumbai
In many ways, the Adani Group-helmed $2.1 billion project in the satellite city of Navi Mumbai is a microcosm of the massive infrastructure overhaul underway in India as its Prime Minister Narendra Modi seeks to outrun China.
BUSINESS
Tata Group considering to buy Disney's stake in Tata Play
The companies are in preliminary talks about an acquisition of Disney’s significant minority stake, which would value Tata Play at about $1 billion or more, the people said, asking not to be identified as the considerations are private.
BUSINESS
Indiabulls Housing, Manappuram Finance looking to sell Dollar bonds
The proposed issuance takes place after the Reserve Bank of India asked banks to increase buffers for consumer loans to contain risky lending. The rule change has made it difficult for shadow lenders to raise bank loans, prompting them to seek alternatives in credit market.
BUSINESS
Nestle faces investor challenge over healthy food targets
Pressure is growing on food companies to make their range of products healthier. Unhealthy diets are a driving factor behind the global growth rates of obesity, increasing the risk of diabetes, heart disease, stroke and some cancers, according to the World Health Organization.
BUSINESS
Bond traders prep for new dot plot, with three cuts in question
The median forecast of Fed policymakers in December showed three quarter-point rate reductions for 2024, and derivatives contracts show slightly more than that priced in as of Wednesday.
BUSINESS
Saudi Wealth Fund eyes bond sales, IPOs to Finance Spending Ambitions
With the Saudi government predicting a deficit every year until 2026, there’s a sense of urgency at the fund to line up funding for its billions of dollars of spending commitments, the people said, asking not to be identified discussing non-public information.
BUSINESS
Saudi Arabia is in talks to add top Wall Street Banks to Aramco share sale
The kingdom plans to hire JPMorgan Chase & Co. as one of the main underwriters to the offering, the people said, asking not to be identified as the matter is private.
INDIA
India plans economic data improvements, new population census
According to sources familiar with the topic, India's government intends to take a variety of actions to improve the integrity of its economic data, including launching a long-delayed population census.
POLITICS
Russia goes to vote with war economy lifting living standards
Two years after the Kremlin's invasion of Ukraine, many Russians believe the wartime economy is benefiting them, a setback for Western sanctions aimed at pitting the people against the country's leader, Vladimir Putin.
BUSINESS
Memecoin trading at levels last seen before crypto bubble burst
The memecoin frenzy in the digital-asset market continues unabated, with trading volumes reaching levels reminiscent of the previous crypto bubble over two years ago.
BUSINESS
TikTok sell-or-ban push to slow as bill hits senate turbulence
President Joe Biden has said he will sign the bill. But first, it has to get past a gauntlet of concerns and potential revisions that could slow, stall or kill it.
BUSINESS
Jeff Yass’ $15 billion TikTok fortune shines light on his GOP clout
Republican critics of TikTok soften stance. Attention on billionaire donor in Washington amid changing attitudes towards China-backed social media app.
TECHNOLOGY
Google restricts replies to queries on India polls via Gemini AI
The company is collaborating with the Election Commission of India to enable people to easily discover critical voting information on Google Search.
TECHNOLOGY
EU passes AI rules despite doubts it got the right balance
The landmark set of rules, in the absence of any legislation from the US, could set the tone for how AI is governed in the Western world. But the legislation’s passage comes as companies worry the law goes too far and digital watchdogs say it doesn’t go far enough.
BUSINESS
Inflows Into Index-Eligible India Bonds Set to Hit $10 Billion
Investments into index-eligible Fully Accessible Route bonds have risen by 812.18 billion rupees ($9.8 billion) since the announcement in September, data from the Clearing Corp. of India show. Inclusion starts in phases from June.
BUSINESS
JPMorgan’s India ECM head Abhinav Bharti is said to leave bank
Abhinav Bharti is leaving after working for more than 13 years with JPMorgan, according to his LinkedIn profile.
BUSINESS
India’s rising valuations spur foreign firms to sell stakes
At least seven firms including US home appliance giant Whirlpool Corp. and Singapore Telecommunications Ltd., have reduced holdings in their local units since June, data compiled by Bloomberg show.
WORLD
Donald Trump wins Republican nomination, setting up rematch with Joe Biden
The former president on Tuesday night crossed the threshold for the number of delegates needed to become the GOP nominee, the Associated Press reported. That allows Trump free rein to consolidate the Republican Party’s political operation and fully turn his attention toward a rematch with President Joe Biden.
WORLD
Risk appetite in Bitcoin spurs ‘enormous’ leveraged ETF flows
Leveraged futures-based exchange-traded funds such as VolatilityShares’ 2x Bitcoin Strategy ETF (BITX) are seeing flows rivaling spot Bitcoin ETFs.
BUSINESS
US consumer inflation up unexpectedly in February
While price increases have fallen from their peak in 2022, households are still feeling the pinch from costs of living, adding pressure on US President Joe Biden as he seeks reelection this year.
BUSINESS
Apple to allow app downloads from web to vade EU scrutiny
As part of the overhaul, Apple will also let developers offer discounts to users away from the app store and will permit third-party marketplaces to offer their own developed apps.
BUSINESS
Accel backs startup seeking to use AI to kill finance paperwork
Y Combinator, Elevation Capital and others took part in the Series B round, which brings the San Francisco-based startup’s total funding to $40 million, it said in a statement Tuesday.
BUSINESS
Former Sequoia India firm launches new fund for early ventures
The Peak XV Anchor Fund will be backed by an internal pool of capital, according to a letter sent to investors. Formerly known as Sequoia India & Southeast Asia, the venture-capital firm rebranded as Peak XV Partners last year and is now fully independent.
WORLD
Bitcoin hovers near all-time peak as crypto draws record inflows
The original cryptocurrency reached an all-time peak of almost $72,881 on Monday and was trading at $72,220 as of 7:15 a.m. in London on Tuesday.
