WORLD
COVID-19 update | China says vaccine makers upgraded shots to fight omicron
Widely-used inactivated shots in the country have been tweaked to fight up to three variants, including omicron and the preceding predominant delta strain.
BUSINESS
Why India is losing faith in the West
The West criticising India for continuing to buy oil from Russia is especially galling, given that European nations have yet to wean themselves off Russian energy supplies either. Unlike them, India can hardly afford such bills
BUSINESS
The King of block trades is entangled in a US probe of Morgan Stanley
When Frank Fu, a Cornell-educated engineer, opened his own hedge fund two years ago, he picked an unlikely niche for an introvert.
WORLD
How four powerful brothers broke Sri Lanka
The Rajapaksa clan may have defeated the Tamil rebellion, but they’ve lost control of Sri Lanka’s economy after two years of worsening crisis
BUSINESS
SoftBank-Backed Oyo said to weigh 50% smaller IPO as markets sag
Faced with headwinds including slumping stock markets, Oyo-operator Oravel Stays Ltd. could clip its Indian IPO from the nearly $1 billion initially sought to half that, the people said, declining to be identified discussing internal matters.
BUSINESS
This tropical island’s economy is being crushed by war in Ukraine
Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka is racing to avert a default amid dwindling foreign-exchange holdings. With inflation already at 15% -- the worst in Asia -- the conflict is only making it harder for the tropical island located off the southern tip of India.
BUSINESS
Bond traders stunned by a hawkish Fed are sounding growth alarms
After the Federal Reserve raised interest rates and signaled hikes at all six remaining meetings this year, a section of the Treasury curve -- the gap between five- and 10-year yields -- inverted for the first time since March 2020. Meanwhile the flattening trend between two- and 10-year yields continued.
BUSINESS
Saudi Arabia’s oil-for-yuan bid won’t threaten the dollar
The yuan is the global reserve currency of the future — and it always will be
BUSINESS
Amazon stock split exposes absurdity of the Dow Jones index
The company’s move may stem in part from an effort to win access to a widely followed market gauge that uses a methodology from 1896.
BUSINESS
Shell Vies With Adani, Greenko for Actis’s Sprng Energy
Shell is seen as a strong contender for the business, though Sprng’s private equity owner Actis is still evaluating the offers.
BUSINESS
Inbrew emerges as lead bidder for Diageo Indian Brands
Inbrew is negotiating final terms of a deal and could reach an agreement as soon as the coming weeks.
BUSINESS
The future of crypto is boring. And bright!
It’s worth remembering that, when it comes to economic affairs, unexciting can be exactly what you are looking for.
WORLD
Why so many countries want to sit out the new cold war
Distrust of aggressive regional powers such as Russia and China is balanced by suspicions that the U.S. is a profoundly weakened and highly unstable superpower.
BUSINESS
Limit up or limit down? Nickel traders brace for wild ride
Nickel was suspended on March 8 after prices rose 250% in little more than 24 hours, largely as metals tycoon Xiang Guangda struggled to pay massive margin calls to his banks and brokers.
WORLD
Russia Is Spiraling Toward a $150 Billion Default Nightmare
About $120 billion of the current outstanding government and company debt is denominated in dollars, with the bulk of the remainder in euros, according to data compiled by Bloomberg. Roughly $25 billion was issued by Gazprom, the state-owned natural-gas giant.
BUSINESS
India said to plan $3.3 billion sovereign green bond issue
The debut sale may take place in the first half of the fiscal year that starts on April 1, and a decision to sell more green debt will depend on the response to the initial issuance, the people said, requesting not to be identified as the information is private, said.
BUSINESS
Ukraine War Gives Egypt a Wheat Crisis Only China Can Solve
While the government says it has sufficient stockpiles to see it through to the end of the year, it could rapidly become an existential issue if the war drags on and disrupts planting.
BUSINESS
An oil price rally is bad. A diesel crisis is worse
Diesel is the workhorse of the global economy. And prices have surged in recent days to an all-time high
BUSINESS
Inflation is bringing back the K-shaped economy
Until now. Stagflationary trends in the housing market combined with the energy shock stemming from war in Ukraine has created a new kind of K-shaped economy.
BUSINESS
Global Bonds limp into Fed meeting with seven 2022 hikes priced
Australia’s benchmark 10-year yields clear March 2020 highs. New Zealand yields highest since 2017; Treasuries steady after rout
BUSINESS
Govt said to plan LIC’s IPO by May after markets calm down
The IPO, which was set to launch before end of March, forms a key part of Prime Minister Narendra Modi government’s plan to divest state assets to fund a yawning budget deficit
BUSINESS
We’ll miss globalisation when it’s gone
The war in Ukraine doesn’t necessarily mean a sharp break in history, but it will perhaps cement the decline of globalization
BUSINESS
Global bonds slide nearly 10% from peak in worst drop in decade
Investment-grade credit spreads are at highest since mid-2020. The US Fed is poised to lift interest rates for first time since 2018
BUSINESS
Andy Mukherjee | Can India really overthrow Visa and Mastercard?
The decision by global card firms to boycott Russia over its invasion of Ukraine may amplify nationalist sentiments. But will RuPay ever become a serious alternative? It may take more than patriotism to take on the entrenched payment institutions
