ECONOMY
Banking crisis in US makes Asian emerging markets a safe haven for investors
A Citibank analysis of global financial conditions shows Asian financial markets have tightened less than in the US and most Asian currencies have gained ground against the US dollar
INDIA
India confronted Myanmar about Chinese spy post on remote island
Indian government representatives at various levels have shared satellite imagery with Myanmar counterparts that they said depicted Chinese workers helping to construct what appears to be a listening post on the Coco Islands in the Indian Ocean, said the officials
WORLD
Jamie Dimon says banking crisis has increased the odds of a recession
Only a handful of lenders have the problems that toppled Silicon Valley Bank, and when the industry starts reporting quarterly earnings next week, the numbers will probably be good, Dimon told CNN in an interview Thursday. Asked if more bank failures might come, he said he didn’t know.
WORLD
One-Minute battery swaps are spurring EV adoption in Asia
That’s because Gogoro Inc., the Taipei-based company that sold Hsiao his moped, lets him swap out its two batteries as often as he likes for up to 630 kilometers (392 miles) of driving each month, all for a subscription fee of 849 new Taiwan dollars ($27.80).
BUSINESS
BlackRock to sell $114 billion of failed banks’ securities
The firm will conduct sales of $27 billion in securities from Signature and $87 billion from SVB Financial Group’s Silicon Valley Bank, the Federal Deposit Insurance Corp. said in a statement Wednesday.
ECONOMY
Raghuram Rajan expects more bank troubles after SVB, Credit Suisse crises
Rajan said a decade of easy money and a flood of liquidity from central banks has caused an “addiction” and a fragility within the financial system as policy makers tighten policy.
BUSINESS
Anil Agarwal’s chip dream at risk as hurdles mount
Seven months after Agarwal announced a chip partnership between his Vedanta Resources Ltd. and Taiwan’s Hon Hai Precision Industry Co., the venture is yet to tie up with a fabrication unit operator or license manufacturing-grade technology, people familiar with the matter said.
WORLD
Four Asian countries lead in US chip diversification move
US imports of chips grew 17% from last year to $4.86 billion in February, according to US Census data, with Asia accounting for 83% of that total.
WORLD
Nervous investors drive VC Funding for startups down 55%
US startups raised $37 billion from venture capitalists in the first quarter of this year, the lowest amount in 13 consecutive quarters, according to data from research firm PitchBook and the National Venture Capital Association.
WORLD
UK bosses try to lure Gen Z workers with ‘Early Finish Fridays’
Online jobs portal Adzuna has seen a sharp increase in postings offering shorter days on Friday, effectively meaning workers can start their weekends a few hours earlier.
WORLD
Women more likely to be rejected when they ask for more pay
About 58% of men, and 61% of women said they didn’t ask for higher pay when they were last hired, according to a survey of more than 5,500 US workers conducted by Pew Research Center in early February.
WORLD
Tiger Global posts 7.3% Q1 gain after losses in 2022
The fund advanced 5.2% in March for its third straight positive month this year, according to a person familiar with the matter.
BUSINESS
RBI rate hike a touch-and-go affair, swaps show
Policy decisions this week from some of the Reserve Bank of India’s global peers offer a good reason for the split. While Australia’s central bank bolstered the case for global doves by calling a halt to its tightening cycle, its New Zealand counterpart emboldened hawks by opting for a larger-than-expected hike.
BUSINESS
Amazon looks to grow diamonds in bid to boost computer networks
Quantum networking uses subatomic matter to deliver data in a way that goes beyond today’s fiber-optic systems. The diamonds would be part of a component that lets the data travel farther without breaking down.
WORLD
UBS Chair says Credit Suisse integration will take up to 4 years
Even with downside protection in the form of government support, there’s a “huge amount of risk in integrating these businesses,” Kelleher said.
BUSINESS
GQG sees $2-billion Adani bet delivering returns over 100%
The chief investment officer of GQG Partners Inc has grand predictions for his bet on the embattled Indian conglomerate: a return in excess of 100 percent
WORLD
Xi Jinping courts Emmanuel Macron in bid to drive wedge between Europe and US
During the three-day visit, which kicks off Wednesday, Macron will have extensive face time with Xi. After formal meetings in Beijing on Thursday, which will also include European Commission President Ursula von der Leyen, Macron and Xi will head to the southern city of Guangzhou.
WORLD
Elon Musk’s month pushing Twitter Blue failed to win many subscribers
Only 116,000 people signed up for the service of 2.6 million people who visited the Twitter Blue sales page on the web in March, according to estimates by SimiliarWeb, which analyzes internet traffic.
BUSINESS
India is taking on China in the $447 billion space economy
State-owned NewSpace India Ltd. launched three dozen communications satellites last month from an island off the nation’s eastern coast for OneWeb Ltd. The move not only salvaged the UK satellite company’s bid to create a global broadband internet network in the skies, but also signaled India’s ambitions in the sector.
BUSINESS
Bengaluru realty logs in 100% surge in rents as techies fight for flats
Bengaluru is home to over 1.5 million workers including those for global firms like Alphabet Inc.’s Google, Amazon.com Inc., Goldman Sachs Group Inc. and Accenture Inc.
BUSINESS
Adani Group JV in talks to borrow $220 million in first loan since Hindenburg
Data center provider AdaniConneX Private Ltd. would use the money for capital expenditure, with a five year tenor under discussion, according to people familiar with the matter, who asked not to be identified because the matter is private. The loan may be signed in the next few weeks, they said.
ENVIRONMENT
Untamed global warming risks soaring death toll in Middle East
It’s warming about twice as fast as the global average, which means maximum temperatures are currently predicted to rise to almost 50°C by the century’s end
WORLD
How Ari Emanuel bought his way to a $21 billion fighting empire
Endeavor Group Holdings Inc.’s biggest business, Ultimate Fighting Championship, was thriving thanks to a lucrative TV rights deal with ESPN.
ECONOMY
Pakistan, Sri Lanka to weigh rate hikes as inflation, debt bite
Pakistan’s inflation quickened by a record last month, beating the median estimate and setting the stage for another jumbo increase on Tuesday
