WORLD
Europe's Gas outlook looks much rosier this year due to winter luck
Mild temperatures, which significantly curbed consumption, and China’s zero-Covid policy, helped Europe stock up on LNG last year. There's enough time to replenish gas storage and avert a crisis in the coming winter but no room for complacency
WORLD
Trudeau minister sees progress on early-stage India trade deal
Indian Commerce and Industry Minister Piyush Goyal is in Ottawa on Monday for ministerial talks and the two countries are making steady progress toward a deal, Canadian Trade Minister Mary Ng said in an interview with Bloomberg News.
WORLD
Japan’s secret to $230 winter mangoes: A farmer tricks the fruit
Nakagawa has been growing mangoes in the snowy Tokachi region of Japan’s northernmost island since 2011. He sells them for as much as $230 each. He never thought an experiment in sustainable farming would one day yield the world’s most expensive mangoes.
WORLD
Goldman shells out $215 million to end case on underpaying women
The New York-based bank struck the deal with lawyers representing about 2,800 women, who claimed the firm discriminated against them in pay and promotions, a person with knowledge of the accord said, asking not to be named discussing the confidential talks. About a third of the settlement is expected to be set aside for attorney fees.
WORLD
Bill Gross advises buying T-Bills to bet debt-ceiling issues will be resolved
Rates on short-dated bills have soared ahead of the so-called ‘X-date’ early next month, after Treasury Secretary Janet Yellen warned last week that the government could run out of cash as soon as June 1.
BUSINESS
GPTZero App seeks to thwart AI plagiarism in schools, online media
Edward Tian, a 22-year-old Princeton University student studying computer science and journalism, developed an app called GPTZero to deter the misuse of the viral chatbot ChatGPT in classrooms. The app has racked up 1.2 million registered users since January.
WORLD
Apple sells $5.25 billion in five-part Dollar Bond sale
The longest portion, a 30-year bond, will yield 108 basis points over comparable Treasuries, less than the roughly 135 basis points initially discussed.
BUSINESS
Brookfield weighing stake sale in Indian tower business, sources say
The Canadian investment firm is working with an adviser to sell a stake of more than 10% in the infrastructure investment trust that holds Summit DigiTel
BUSINESS
MakeMyTrip adds AI voice chat to lure more travellers
MakeMyTrip Ltd. will use Microsoft Corp.’s Azure Open AI technology for the chat, initially available in English and Hindi, the Indian company said in a statement Monday.
BUSINESS
Adani units may drop out of MSCI index on review, analyst says
MSCI is revising the amount of shares considered freely tradable in the public market for the two companies, with the results to be announced later this week.
WORLD
China’s high turnover stock market is punishing liquidity trades
Modeling a long-short strategy that favors the CSI 300 Index’s most liquid shares would have lost traders almost 11% in April.
WORLD
Brutal heat continues to grip Asia in warning for rest of world
In an ominous sign ahead of the northern hemisphere summer, an emerging El Nino weather pattern is pushing the mercury to unprecedented levels in southern parts of the continent.
BUSINESS
General Atlantic to deploy up to $1 billion a year in India
The planned investment compares with the $500 million to $1.2 billion that General Atlantic has invested per annum in recent years in Southeast Asia and India, Rastogi said.
WORLD
Singapore’s soaring rents are becoming a political problem
The pain is trickling down to young singles like Sonam who are largely shut out of the nation’s subsidized housing program and starting to question the government’s resolve to tackle the problem.
BUSINESS
Grounded Go Air can fly in a week if planes not seized, CEO says
The airline, controlled by billionaire Nusli Wadia’s group, has enough funds to sustain operations on a cash-and-carry model for about 10 days, Chief Executive Officer Kaushik Khona said in an interview Saturday.
BUSINESS
Why airlines keep folding in India’s booming aviation market
Buoyed by an emerging middle class hankering to fly, Indian airlines ordered billions of dollars worth of planes in the past few years, creating a cauldron of competition in what is now the world’s most populous nation.
BUSINESS
India's booming bond rally may be over with sales deluge on the cards
India’s 10-year yield dropped below 7 percent on Thursday, the first time since April 2022 due to falling crude prices and the prospect of a Federal Reserve rate pause
WORLD
China’s belt and road to enter Afghanistan in Taliban’s victory
Chinese Foreign Minister Qin Gang and his Pakistani counterpart Bilawal Bhutto Zardari met in Islamabad on Saturday and pledged to work together on Afghanistan’s reconstruction process including taking the $60 billion China-Pakistan Economic Corridor to the Taliban-ruled nation.
BUSINESS
Warren Buffett predicts earnings decline across Berkshire units
The billionaire investor expects earnings at the majority of Berkshire’s operations to fall this year as a long-predicted downturn slows economic activity.
BUSINESS
Vedanta Resources repays $800 million loans to Standard Chartered Bank
Vedanta Resources said in an exchange filing that it has repaid three facilities, which were taken from Standard Chartered Bank in London and Hong Kong.
WORLD
HSBC investors reject special resolutions on dividends, strategy
Indicative results from Friday’s annual meeting show that about a fifth of voting investors backed the call for HSBC to report regularly on the possibility of carving out its Asian unit, while 19.2% supported lifting its dividend to its pre-pandemic level.
WORLD
Russia says it has billions of Indian rupees that it can't use
“This is a problem,” Lavrov told reporters in India’s western state of Goa on the sidelines of the Shanghai Cooperation Organization meeting. “We need to use this money. But for this, these rupees must be transferred in another currency, and this is being discussed now.”
BUSINESS
Oil set for worst run this year as recession fears rattle market
West Texas Intermediate advanced above $69 a barrel on Friday, but the US crude benchmark has still retreated by close to 10% this week after a four-day skid.
WORLD
Saudi Arabia cuts Asia oil prices as energy market weakens
A softening US economy and continued fragility among its banks, as well as weak manufacturing data in China, have triggered a renewed fall in Brent and WTI futures. Refining margins have also sunk.
