WORLD
Half of Red Sea container-ship fleet avoids route after attacks
he tally compiled by Flexport Inc. shows 299 vessels with a combined capacity to carry 4.3 million containers have either changed course or plan to. That’s about double the number from a week ago and equates to about 18% of global capacity.
WORLD
A Cathie Wood ETF just overhauled its Bitcoin-related holdings
shares of the Grayscale Bitcoin Trust on Wednesday, according to data compiled by Bloomberg.
BUSINESS
Oil holds decline on signs of further build in crude stockpiles
West Texas Intermediate held above $74 a barrel after declining by 1.9% on Wednesday, with Brent crude near $80
WORLD
Global bond ‘carnival’ sets stage for best two months on record
The Bloomberg Global Aggregate Total Return Index has risen nearly 10% over November and December, its best run in Bloomberg data going back to 1990.
INDIA
India seeks more middle east crude as attacks delay cargoes
Shippers turned cautious about entering the Red Sea in recent weeks due to multiple attacks by Yemen’s Iran-backed Houthi rebels.
BUSINESS
Inside the record year for India’s $585 billion Mutual Funds industry
These are some of the milestones that mark what’s set to be a blockbuster year for India’s mutual funds industry. Powered by an insatiable thirst for financial gains, millions of young Indians armed with smartphones have taken to equity investments in the world’s most-populous nation.
BUSINESS
I’ve had trouble hearing, then I tried new glasses: Dave Lee
The hearing-aid tech will be licensed to any glasses maker that wants to use it, Genco said, but he wouldn’t be pushed on how much it will cost — other than to say they would be less expensive than typical hearing aids.
TRENDS
The most memorable off-roading adventure is on Estonian sea ice
During the winter, if it’s very cold, the sea around Estonia is covered with ice, and you can walk out, or even drive, to the islands.
BUSINESS
Rice prices surge to a fresh 15-year high
Rice is vital to the diets of billions of people in Asia and Africa, and the latest run up in prices could fan inflationary pressures and hike import bills for buyers.
WORLD
Dubai’s red-hot property market is bracing for a slowdown
The Egyptian couple, who spent eight years renting in the emirate, are selling their two-bedroom apartment in the Jumeirah Village Circle district on the edge of Dubai for a 26% premium over the 1.7 million dirhams ($460,000) they paid for the property in March.
BUSINESS
India’s crackdown on financial risks puts industry on watch
The Reserve Bank of India said the move is designed to prevent an unstable build up of assets in the country’s financial system. But, lawyers and analysts say alternative investment fund managers could see costs ramp up and the rules will make it harder to raise cash in the future.
BUSINESS
Property wins big, Adani lags in stellar year for Indian stocks
Robust economic growth, an infrastructure push and a pause in interest-rate increases have helped propel its equity market to successive highs.
WORLD
China’s BYD overtakes Tesla as the most popular EV company
The automaker is poised to surpass Tesla Inc. as the new worldwide leader in fully electric vehicle sales.
WORLD
iPhone design chief Tang Tan to work with Jony Ive, Sam Altman on AI devices
As part of the effort, outgoing Apple executive Tang Tan will join Ive’s design firm LoveFrom, which will shape the look and capabilities of the new products, according to people familiar with the matter.
BUSINESS
Grayscale Investments chair Barry Silbert resigns while SEC mulls Bitcoin ETF
Silbert is chief executive and founder of Grayscale parent Digital Currency Group, the sprawling crypto conglomerate that is embroiled in several ongoing disputes in the wake of the 2022 industry meltdown.
WORLD
Iron ore surges past $140 to the highest since June 2022
Futures in Singapore rose above $140 a ton amid thin trading on Tuesday. Optimism is building that China’s economic recovery and its steel-intensive property sector are finally gaining momentum, after a subdued post-pandemic reopening in the past year disappointed investors.
WORLD
China’s bruised middle class has bad news for global brands
Interviews with 20 college-educated people across five top-tier Chinese cities show how the nation’s middle to upper class — a consumer powerhouse targeted by global brands — is pulling back.
WORLD
Chinese media expose prompts probe into illegal baby surrogacies
Undercover reporters at Shanghai-based The Paper visited clinics in Hangzhou and Xiamen controlled by Longduhua Medical Group (Hong Kong) Ltd., which provides surrogacy, a practice that’s illegal under Chinese law.
BUSINESS
Adani secures power purchase pacts for 8GW of solar projects
The green energy arm of billionaire Gautam Adani’s coal-to-airports conglomerate signed a 25-year contract with Solar Energy Corp. of India, or Seci, for the remaining 1.8 gigawatts, it said Monday.
WORLD
China unveils a new Naval Chief as Maritime tensions climb
Hu Zhongming was promoted to the rank of general at a ceremony in Beijing attended by President Xi Jinping on Monday, the official Xinhua News Agency reported.
WORLD
Japan’s business service price growth holds at 30-year high
The country’s services producer price index, a gauge measuring the costs of a range of goods and services provided by businesses to other firms and government entities, rose 2.3% in November from a year earlier, the BOJ said Tuesday.
WORLD
The oldest businesses in the world share their secrets
Here are some longevity lessons from businesses with more than ample experience.
WORLD
Kim Jong Un set to helm key 2024 policy meeting at the peak of his powers
Kim is arguably at the peak of his power since he took office about a dozen years ago, with arms transfers to Russia in recent months likely boosting his sanctions-hit economy.
WORLD
UK economy forecast to narrow GDP gap with Germany by 2038
The Centre for Economics and Business Research predicted that GDP growth in the UK will settle between 1.6% and 1.8% in the period up until 2038, helping it retain its position as the world’s sixth-largest economy.
