INDIA
India green hydrogen aid gets cautious response from investors
Acme Solar Holdings and Avaada Group also competed to help build a total capacity of 450,000 tons a year of the clean fuel, the people said, asking not to be named before an official announcement.
BUSINESS
India state-run firms seen extending dream rally on PM Modi bets
Modi’s government is spending billions of dollars on everything from roads and railways to defense, renewing interest in a sector that has for long been a straggler of India’s $4 trillion stock market.
BUSINESS
Next Adani milestone is plan for $1.25 billion of Green arm debt
The group, whose interests stretch from ports to solar energy and coal, is expected to come up with the first blueprints for redeeming or rolling over its overseas bonds since the scathing fraud claims by shortseller Hindenburg Research.
WORLD
ByteDance offers investors a buyback at $268 billion valuation
The new offer, earlier reported by the South China Morning Post, is pitched at $160 per share, the same level as ByteDance offered to employees in November, the people said, asking not to be named discussing a private matter.
WORLD
Joe Biden says he might not have sought reelection if Donald Trump weren’t running
Joe Biden, 81, has faced persistent voter doubts about his decision to seek four more years in office due to his age. The president has sought to parry those concerns in part by saying he is motivated to defeat Trump again and prevent him from holding power.
WORLD
Janet Yellen says US responsible for Ukraine defeat if funding stops
“This is a dire situation and we can hold ourselves responsible for Ukraine’s defeat if we don’t manage to get this funding to Ukraine,” Yellen told reporters as she traveled to Mexico City Tuesday.
BUSINESS
China stock slump deepens as traders fret over economy’s health
The MSCI China Index slid as much as 2.3%, on track for a third straight day of declines.
INDIA
India, UK seek to wrap up trade talks before 2024 general election
A UK team — including Amanda Brooks, director general for trade negotiations, and Douglas McNeill, chief economic adviser to the prime minister — is in New Delhi this week for further talks, according to people familiar with the matter, who asked not to be identified because the discussions are private.
WORLD
US examined Hindenburg allegations before giving loan to Adani
Allegations in a scathing report by US-based Hindenburg Research, which erased around $100 billion from the Adani Group’s market value earlier this year, were front and center as the International Development Finance Corp., or DFC, conducted a due diligence investigation of the conglomerate, an official from the US agency told Bloomberg.
WORLD
US to deploy anti-ship missiles on subs in 2024 to counter China
The “Maritime Strike” version of the Tomahawk, the RTX Corp. missile traditionally used as a ground-attack weapon, will be fielded after Oct. 1, program manager Captain Jon Hersey said in a statement.
BUSINESS
Adani’s clean power arm to invest $22 billion towards 2030 goal
Focusing on the Indian market before exploring foreign expansion is both in the “national interest and economic interest” for the company, Chief Executive Officer Amit Singh told Bloomberg Television at the United Nations COP28 climate summit in Dubai on Monday.
BUSINESS
Zuckerberg sells first Meta shares in two years after 172% surge
That’s the first time entities that manage Zuckerberg’s fortune have sold shares since November 2021.
BUSINESS
Byju’s founder pledges homes to raise funds for staff salaries
Two homes owned by the former billionaire’s family in Bengaluru, in southern India, and his under-construction villa in Epsilon — a plush gated community in the city — were offered as collateral to borrow $12 million, the people said, asking not to be named as the information is not public.
WORLD
The yield hunt is finally back on for buyers in emerging markets
Euphoria is already spreading through developing-nation assets, spurring a 7.9% rally in stocks and a 6.7% run-up in sovereign bonds for November.
BUSINESS
PM Modi’s win in state polls seen boosting case for India inflows
Portfolio managers say the results will ensure policy continuity and lift prospects for the stock market as international investors become more confident in their India allocations ahead of national elections.
BUSINESS
Spot gold rises to record on dovish Fed remarks
The precious metal surged more than 3% in early trading on Monday, surpassing the previous all-time high it set on Aug. 7, 2020, before paring much of those gains.
WORLD
World Bank focuses on securitization to scale climate finance
Ajay Banga, the World Bank’s president, said the Private Sector Investment Lab is focused on "figuring out a model of originate-to-distribute" that would allow for deep-pocketed investors to put up large sums for climate deals.
WORLD
Russian billionaire uses COP to push revival of woolly mammoths
At a lavish pavilion at the COP28 climate summit in Dubai, Melnichenko is showcasing a plan to bring a slice of Russia’s ecology back 14,000 years.
WORLD
Nine dead in Peru’s Poderosa mine after armed men raid: Ministry
Peru's national police regained control of the gold mine in the province of Pataz, seized weapons, and detained seven suspects of the deadly attack, carried out with explosives, the report said.
WORLD
Exxon among 50 oil producers in controversial Climate Pact at COP28
The deal will be controversial given none of the companies are agreeing to reduce oil and gas production.
BUSINESS
India re-emerges as Venezuelan oil buyer as US sanctions ease
India is set to restart imports of Venezuelan oil after a three-year hiatus, according to brokers and shipping fixtures, as it rushes to take advantage of a US move to ease sanctions on the South American nation.
BUSINESS
UAE aims for COP28 finance splash with $30 billion climate fund
The United Arab Emirates, host of the COP28 climate summit in Dubai, will put $30 billion into a new climate finance fund aimed at improving the flow of money into projects to reduce emissions, especially in the Global South.
BUSINESS
Wealth and pension funds prefer India over China, study shows
Global pension and sovereign wealth managers are flocking to India while growing hesitant on China, according to a new study.
BUSINESS
Bitcoin rally pushes token to highest level of 2023
Prices of other digital assets tracked by Bloomberg were up. Bitcoin’s jump constitutes the token’s highest value since May 5 last year
