WORLD
Iron ore extends slump below $100 as China concerns spur rout
Futures declined as much as 3% to $97 a ton in Singapore after collapsing by more than 13% last week. Industrial production data are due later on Monday, offering an insight into conditions across Asia’s largest economy.
WORLD
BoJ rate hike on March 19 is now widely expected after wages jump
Some 90% of BOJ watchers sees the risk of authorities ending the negative rate on Tuesday at the meeting’s conclusion, with that likelihood bolstered after the nation’s largest union group announced first-round results to annual wage negotiations that far exceeded expectations.
CRYPTOCURRENCY
Binance CEO Teng sees Bitcoin topping $80,000 on ETF inflows
The launch of Bitcoin ETF in the US earlier this year has attracted institutional investors and new fund flows, Teng said at an event in Bangkok on Sunday, adding “we’re just getting started.”
BUSINESS
Vladimir Putin heads for victory in Russia election without a real opponent
Already Russia’s longest-serving leader since Soviet dictator Josef Stalin, 71-year-old Putin is set to extend his nearly quarter-century rule by another six years with his troops on the offensive in Ukraine
BUSINESS
Gold beans all the rage with China’s Gen Z as deflation bites
Amid China's worst deflation in 15 years, volatile stock market, and low bank interest rates, 18-year-old Tina Hong is investing in gold beans for financial security.
MARKETS
Shakeout in small-cap stocks lures dip buyers into the market
Flush with money, local funds injected a record $1.1 billion into shares on Wednesday, when small- and mid-cap indexes endured their worst selloff in more than two years
BUSINESS
US probing Adani Group over potential bribery
Investigators are digging into whether an Adani entity, or people linked to the company, were involved in paying officials in India for favourable treatment on an energy project, according to people, who declined to be identified
BUSINESS
China to tighten IPOs, checks on listed firms to boost stocks
The watchdog will study and re-evaluate listing standards for certain sectors, and bolster reviews for companies aspiring to do IPOs that haven’t yet made a profit, said Yan.
BUSINESS
KKR said to weigh $1 billion sale of school chain EuroKids
The US private equity firm is looking to hire financial advisers to help evaluate a sale, the people said, asking not to be identified as the matter is private. KKR could seek a valuation of about $1 billion for its majority stake, the people said.
WORLD
China holds key rate steady in cautious approach to stimulus
The People’s Bank of China withdrew 94 billion yuan ($13 billion) of cash from the banking system on a net basis to avoid excessive liquidity, while it kept the rate on its one-year policy loans steady at 2.5% on Friday.
BUSINESS
Bankers in India to get higher salary increases than Singapore, Hong Kong
Salaries in India could rise by 10% in 2024, analyst Sarah Jane Mahmud wrote in a note Friday, citing survey data from consulting firm Aon. That compares with 4% in the two financial hubs.
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.
