BUSINESS
Construction boom sets up India as global steel saviour
Poised to overtake China as the world’s most populous country next year, India is in the midst of a building boom. Prime Minister Narendra Modi is seeking to modernize roads, rail networks and ports in attempt to vie with China as a manufacturing hub.
BUSINESS
Best nonfiction of 2022: Great books that will make you think
The author is even-handed but not starry-eyed. Particularly chilling are her accounts of the “punitive” raids against the indigenous people, expeditions even dissenters were expected to join.
BUSINESS
What we learned about Hybrid work in 2022
In most big cities, offices are still empty more than half the time. Even in Austin, Texas — which has the highest occupancy rate among large cities, according to Kastle Systems badge-in data — workplaces are still much emptier than before the pandemic.
BUSINESS
China’s economy is showing increasing strain from the Covid Tsunami
Bloomberg’s aggregate index of eight early indicators showed a contraction in activity in December from an already weak pace in November and the outlook is grim for the new year.
BUSINESS
India beats global markets: What propelled the rally this year
The BSE Sensex Index is up 3 percent so far in 2022, the biggest gain in the world after measures in Singapore and Indonesia. A solid run of earnings buoyed key benchmarks to record levels, making the market larger than the UK
BUSINESS
Excessive RBI hikes a risk to growth, jobs: Jayanth Varma
“What I am worried about is sub-par growth after two lost years,” Jayanth Rama Varma, a member of the Reserve Bank of India’s rate panel, said in an email interview, referring to the time lost to the pandemic.
ECONOMY
China’s economy shows increasing strain from the Covid tsunami
Although there’s no reliable data on the extent of the spread of the virus or the number of sick and dead now, it had reached every province before the end of extensive and regular testing
LUXURY-LIFESTYLE
Raffles London and 12 more exciting European hotels opening in 2023
Modern glamour defined by Bulgari in Rome. An Austrian castle on a lake. An architectural masterpiece that once was Britain’s War Office - the most exciting European hotels, arranged by expected launch date in 2023.
BUSINESS
Elon Musk warns against margin debt on risk of market ‘mass panic’
“I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep powder dry,” Musk said in the All-In podcast released Friday.
BUSINESS
The biggest risk to India's growth story is not the coming recession
India’s $3.18 trillion economy expanded 6.3% from a year ago in the quarter to September, down from 13.5% in the previous three months. The deceleration comes amid fears of slowing global economic growth due to restrictive monetary policy to curb inflation.
BUSINESS
Centre may spend less on fertilizer subsidy to ease fiscal burden
The lower fertilizer allocation will help with India’s goal of cutting its budget deficit. Food and energy costs have jumped after Russia’s invasion of Ukraine. The government’s spending on food, fertilizer and fuel is set to exceed the budget estimate by almost 70% this year.
BUSINESS
Elon Musk’s frequent Twitter polls are at risk of bot manipulation
With less than $100, one can buy tens of thousands of votes for Twitter polls using bot-for-hire manipulation services, according to the nonprofit digital rights group Accountable Tech.
BUSINESS
Top banks vie for no.1 bond spot as credit demand surges
Indian businesses are hungry for credit, despite rising interest rates, as they borrow to cover higher operational costs and for more investments. Corporate bond sales also got a boost this month from record issuance of riskier debt by banks to buffer their capital and allow more lending.
BUSINESS
$4 billion investment fund NIIF faces questions from government
Critics inside and outside the government complain that NIIF — which handles about $4.3 billion in assets — lacks vision, decisiveness and the ability to win over investors.
BUSINESS
Rules likely for quicker resolution of real estate bankruptcies
The proposed change to the nation’s Insolvency and Bankruptcy Code will permit resolution of the cases on a project-wise basis, the people said, asking not to be named, as the information is not public.
WORLD
China's covid wave could spark a dangerous new variant, fears the world
The situation in China is unique because of the path it’s followed throughout the pandemic.
WORLD
China’s soaring Covid cases send people to black market for pills
The country’s abrupt U-turn on Covid Zero earlier this month surprised health experts and residents, as officials appear to have done little planning for the inevitable rise in cases that comes with reopening.
BUSINESS
Tata’s Bigbasket eyes IPO by 2025 after $200 million fundraising
The Bengaluru-based e-commerce firm, which is focusing on expanding its pan-India reach, may choose to launch an initial public offering in 24 to 36 months
BUSINESS
No sign of smartphone recovery until late 2023, says top battery maker TDK
Tokyo-based TDK, which provides batteries for the entire mobile industry including Apple Inc.’s iPhone, sees little indication of a rebound following major declines in handset sales, especially in the key market of China.
BUSINESS
Global era of negative yields is ending as Japan note tops zero
The rate added as much as two basis points to 0.01% on Wednesday, according to Japan Bond Trading Co. data, as the country’s debt extended declines after the central bank doubled its cap on 10-year yields on Tuesday.
BUSINESS
Elon Musk’s net worth sinks to two-year low
The selloff adds to the woes of Musk, who lost his status as the world’s richest person to luxury tycoon Bernard Arnault on December 13.
BUSINESS
Donald Trump’s tax records to be released by democrats after House panel vote
Tuesday’s action by the Ways and Means Committee — over the objections of the panel’s Republicans — comes in the waning days of the House Democratic majority and one day after Trump was referred for criminal prosecution by another House panel.
MARKETS
Private equity’s tough year shows no signs of letting up
After a red-hot 2021, private equity funds raised $404.6 billion of capital during the first nine months of 2022, a decline of more than 20 percent from a year earlier
BUSINESS
3M will stop producing ‘Forever Chemical’ PFAS by end of 2025
The industrial conglomerate expects to book pretax charges of $1.3 billion to $2.3 billion as it stops making per- and polyfluoroalkyl substances, or PFAS.
