BUSINESS
Wireless-Charging Road Trial Sets Out to Transform Trucking
Similar trials already have delivered promising results in other countries. Following a successful 2019 trial of a wirelessly charging road, Sweden is hoping to build the world’s first permanent electric motorway by 2025.
BUSINESS
WTO Chief Sees Trade Missing Forecasts on Growth Headwinds
The WTO has been undermined in recent years by the geopolitical rivalry between the US and China, the world’s two biggest economic powers that have clashed on issues including semiconductor technology and fought a trade war that featured multiple challenges to each other’s policies at the Geneva-based institution.
BUSINESS
Jacob Rothschild, Banker Who Broke From Dynasty, Dies at 87
Rothschild was also one of the UK’s most prominent philanthropists. He chaired the boards of the National Gallery and the National Heritage Lottery Fund.
TRADE
Indonesia to boost rice import quota on outlook for lower crop
The government intends to raise the quota by 1.6 million tons, which is on top of two million tons of permits already issued to the state-owned food logistics company Bulog.
BUSINESS
Goldman strikes $1-billion private credit deal with Mubadala
The pact follows a similar mandate the New York-based firm received from the Ontario Municipal Employees Retirement System in September.
INDIA
India chip strategy makes progress with $21billion in proposals
Israel’s Tower Semiconductor Ltd. is proposing a $9 billion plant, while India’s Tata Group has put forward an $8 billion chip fabrication unit, people familiar matter said.
WORLD
Cathie Wood sells into Nvidia frenzy again, cuts TSMC stake
Ark Autonomous Technology and Robotics ETF sold 8,599 American depositary receipts of Taiwan’s largest company Friday in its first sale of the stock since the end of 2021, Ark Investment Management LLC data compiled by Bloomberg show.
BUSINESS
India lifts forecast on peak electricity demand as usage soars
Government officials now expect electricity demand to surge to a high of 384 gigawatts in the 12 months through March 2032, a 5% increase on an estimate issued in May, according to people familiar with the details.
WORLD
Xiaomi 14 gains attention in Southeast Asia with camera upgrades
The global launch of the Xiaomi 14 and 14 Ultra devices at Mobile World Congress in Barcelona pushed Xiaomi’s name into the top 10 of online trending lists in Malaysia and the Philippines.
WORLD
AI chip startup DeepX nears $90 million in fresh funding
The South Korean firm has secured 60 billion won from Skylake Equity Partners as well as 30 billion won from existing backer Timefolio Asset Management, said the people, who asked not to be named as the matter is private. DeepX is also in final discussions with another investor to secure 30 billion by next month, they said.
WORLD
Mark Zuckerberg’s Asia tour to range from AI to Ambani wedding party
Meta Platforms Inc.’s chief executive officer, who’s been in Japan the past week to accompany his family on a ski trip, will meet with his company’s developers in Tokyo on Monday and Tuesday, according to a spokesperson.
BUSINESS
Disney, Reliance said to have signed binding India merger pact: Bloomberg Report
Disney has been grappling with challenges in India such as retaining subscribers and securing coveted media assets, while Reliance has cornered a larger slice of the local media and entertainment businesses in recent years.
BUSINESS
Nvidia set to top $2-trillion valuation in first for chipmakers
The chipmaker’s shares rose as much as 2.7% in premarket trading on Friday after closing at a $1.96 trillion valuation in the previous session.
BUSINESS
Pimco inflows are ‘stunning’ this year, Allianz chief says
The bond giant had an “absolutely stunning” development this year, Oliver Baete, chief executive officer of Pimco parent Allianz SE, said in an interview Friday
BUSINESS
GQG’s Adani investment reaches $10 billion as stocks bounce back
The fund’s initial investment of $1.9 billion in March has ballooned to $10 billion in value, helped by market gains and additional stakes, according to fund manager Sudarshan Murthy.
WORLD
Why it took the US 51 years to get back on the Moon
At 6:23 p.m. New York time Thursday, Intuitive Machines Inc. landed a robotic spacecraft on the moon, becoming the first private firm to place a vehicle intact on the lunar surface.
BUSINESS
Indian steel mills seek iron ore export ban as China sales jump
Indian exports jumped 170% to 44 million tons last year — most of which went to China — at a time when domestic demand for the raw material is rising. That’s prompted the worst-affected sections of the industry to seek restrictions from the authorities to protect their margins.
WORLD
The next plane seats are made from cactus skin and fishing nets
The economy-class seat from German manufacturer Recaro Aircraft Seating GmbH features recycled foam taken from old mattresses, and armrests containing wood and a cork compound. There’s a mesh pocket on the back made from fish netting.
WORLD
Nvidia’s surge puts CEO Jensen Huang on cusp of cracking world’s 20 richest
Huang’s wealth jumped $9.6 billion to $69.2 billion Thursday, a gain that leapfrogged him ahead of Charles Koch and Chinese bottled-water tycoon Zhong Shanshan to 21st place on the Bloomberg Billionaires Index.
WORLD
Nvidia H100: This is the chip behind AI’s supersonic stock rally
The H100 data center chip has added more than $1 trillion to Nvidia’s value and turned the company into an AI kingmaker overnight.
BUSINESS
Foreigners pursue every avenue to access hot India bond trade
Foreign funds lacking direct access to India’s $1 trillion government debt market are increasing their exposure via instruments such as supranational bonds and swaps ahead of the nation’s upcoming inclusion in global bond indexes.
WORLD
Nvidia tops Meta record with $277 billion surge in value
Shares of the chipmaker jumped 16% Thursday, adding about $277 billion in market capitalization and bringing its total market value near $2 trillion. The addition eclipsed the $197 billion gain made by Facebook-parent Meta at the start of the month.
WORLD
Nestle forecasts revenue slowdown as inflation eases
Revenue should increase about 4% in 2024 on an organic basis after gaining 7.2% last year, Nestle said Thursday. The company also expects a 6% to 10% gain in underlying earnings per share.
WORLD
Pressure grows on China for big policy moves to fix economy
The start of the year saw Chinese stocks tumbling to five-year lows on growth concerns and deflation deepening to levels unseen since the global financial crisis, prompting comparisons with the 2015 turmoil that forced policymakers into action.
