BUSINESS
Foreigners turn bullish on India stock futures after PM Modi’s wins
Overseas funds held 31,549 more long index futures contracts than short contracts as of Thursday, turning to a net bullish position a day earlier for the first time since September, according to exchange data compiled by Bloomberg.
WORLD
Cathay Pacific buys six A350 freighter aircraft from Airbus
The Hong Kong carrier will buy six A350 freighters and secured the rights to a further 20 of the cargo jets, it said in a statement Friday. Deliveries will start from 2027 and should be completed by the end of 2029.
BUSINESS
Adani Green lays out initial plan for repaying $750 million bond
Adani Green Energy Ltd., part of billionaire Gautam Adani’s empire, will redeem the notes in full by the due date, it said in a filing to the Singapore stock exchange. It said the bond’s underwriters will provide a funding letter for $675 million. The filing also lists $75.47 million in restricted reserves.
BUSINESS
Tata plans new iPhone factory to hasten Apple’s India expansion
Tata wants to construct the factory in Hosur in the southern Tamil Nadu state, according to people with knowledge of the matter.
WORLD
ECB’s Lagarde squeezed as markets boost 2024 rate-cut bets
With rapidly weakening inflation, a feeble economy, and one hawkish policymaker changing tack, traders are heaping bets on a reduction as soon as March.
INDIA
India taps Nigeria, Argentina, Philippines to sell fighter jets
Discussions with Nigeria, Philippines and Argentina to export the Tejas fighter jets are progressing, C. B. Ananthakrishnan, chairman of Hindustan Aeronautics, told reporters in New Delhi.
WORLD
Meta tests new AI features across apps in bid to boost appeal
The company is currently testing more than 20 different generative AI features from search to ads, business messaging and more, across Facebook, Instagram, Messenger and WhatsApp. Eventually it will apply those tools globally.
WORLD
China’s exports expand from Covid-hit period a year ago
Overseas shipments in dollar terms rose 0.5% from a year ago, the General Administration of Customs said Thursday. That’s slightly better than the median economists’ forecast of no change, and marked the first year-on-year expansion since April.
BUSINESS
Adani group’s $79 billion rally makes a winner of GQG’s Rajiv Jain
The sharp rebound in listed stocks of Indian billionaire Gautam Adani has proved to be a windfall for the emerging-market investor, just nine months after his firm GQG Partners Inc. bought into the Indian conglomerate.
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.
