BUSINESS
World economy yet to feel full force of Trump tariffs, OECD says
In new forecasts published on Tuesday, the Paris-based organization raised its 2025 outlook for world growth and most individual economies, citing the impact of front-loading in anticipation of higher tariffs
BUSINESS
L’Oréal only interested in Armani’s profitable beauty business
The French beauty giant was one of three preferred bidders cited in Armani’s will for an initial stake sale of 15% in Giorgio Armani SpA, which his heirs were directed to complete within 18 months
BUSINESS
ICICI Prudential AMC begins roadshows for $1.1 billion India IPO
The IPO involves the sale of 17.65 million shares, or a 10% stake held by Prudential, and could raise as much as 100 billion rupees ($1.1 billion)
BUSINESS
Jaguar Land Rover says plants will remain shut until October
The Range Rover maker has been hit hard by the cyberattack, which has derailed its operations for more than three weeks now.
BUSINESS
Botswana wants to buy De Beers controlling stake by next month, says President
Boko’s government is in talks with the US — the biggest buyer of natural gems — to remove tariffs on diamonds, and the president expects to meet Commerce Secretary Howard Lutnick to discuss the matter.
BUSINESS
China rare earths issue remains unresolved, US lawmaker says
The two governments reached a framework agreement in June that includes a Chinese commitment to review applications for shipping rare earth magnets, although few details of the deal have been disclosed.
BUSINESS
Huawei plans three-year campaign to overtake Nvidia in AI chips
Huawei’s announcement coincided with a recent plethora of revelations about advances in AI chips led by Chinese firms from Alibaba Group Holding Ltd. to Baidu Inc.
BUSINESS
China’s emissions may start to slide in 2030 on green investment
The country’s energy transition is expected to face steep challenges as rebounding coal generation affects efforts to control emissions.
BUSINESS
Walmart-backed Flipkart invests $30 million in fintech arm Supermoney
Launched less than a year ago, Supermoney has quickly become India’s fifth-largest UPI app, handling about 257 million transactions a month, according to data from the National Payments Corporation of India.
BUSINESS
Fed’s Miran makes an outlier’s argument for cutting rates
“The upshot is that monetary policy is well into restrictive territory,” Miran said Monday in prepared remarks for an event at the Economic Club of New York. “Leaving short-term interest rates roughly 2 percentage points too tight risks unnecessary layoffs and higher unemployment.”
BUSINESS
Asian stocks primed for best year against US peers since 2017
The MSCI Asia Pacific Index has climbed 22% this year, beating the S&P 500 Index by around eight percentage points and set for the biggest annual outperformance since 2017.
BUSINESS
China floods the world with cheap exports after Trump's tariffs
With access to the US curtailed, Chinese manufacturers have shown they aren't backing down: Indian purchases hit an all-time high in August, shipments to Africa are on track for an annual record and sales to Southeast Asia have exceeded their pandemic-era peak.
BUSINESS
Asian stocks edge up after record on Wall Street
Gauges in Australia and South Korea rose while equity-index futures for Hong Kong — facing its most damaging typhoon since 2018 — were flat.
WORLD
Poland threatens to shoot down Russian jets after airspace violations
Prime Minister Donald Tusk warned that Poland will shoot down any unauthorized foreign aircraft after a spate of Russian incursions, as NATO scrambles to respond to escalating airspace violations.
WORLD
Doctors likely to be exempt from Trump administration’s $100,000 H-1B visa fee: White House
H-1B visa fee news: Health care employers often sponsor medical residents and other physicians through the H-1B program.
BUSINESS
US banks to lean on India hubs after Trump imposes visa fees
Although Trump is seeking to protect US jobs by curbing immigration, the new rules could spur banks to deepen their presence in Indian tech hubs such as Mumbai, Bengaluru and Hyderabad, which already employ more than 1.9 million people, analysts said.
BUSINESS
Pfizer to buy Metsera for $4.9 billion in obesity drug bet
BUSINESS
Wall Street to tap engineers in India after $100,000 fee
US lenders including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc. are among the biggest employers of India’s so-called global capability centers
BUSINESS
JPMorgan sees India building on record levels of IPO activity
Investors are betting that India will build on last year’s record, when nearly $21 billion was raised in IPOs, including the country’s biggest-ever listing — by Hyundai Motor Co.’s local unit — and two others that exceeded $1 billion.
INDIA
Trump’s H-1B fee hike poses risk to India’s remittances, rupee
Last week, Trump ordered a sweeping overhaul of the H-1B visa program, mandating a $100,000 application fee aimed at deterring excessive use
BUSINESS
GQG sells Adani Power shares worth $250 mn to Citadel Securities, SBI Fund: Report
GQG Partners sold about 35 million shares, or about a 1% stake, with SBI Mutual buying most of the shares, says report
BUSINESS
BYD’s stock falls after report Buffett has sold all his stake
BYD’s shares have tumbled about 30% from the all-time high reached four months ago due to growing concerns over its ability to fend off competition amid a destructive price war in China.
WORLD
Hong Kong airport mulls 36-hour closure due to super typhoon
Airport and aviation officials plan to halt all flights from as early as 6 p.m. local time on Tuesday through 6 a.m. on Thursday as Super Typhoon Ragasa bears down
INDIA
India plans ‘bodyguard’ satellites after risky orbital near-miss
The near miss in mid-2024 involved one of ISRO’s satellites orbiting around 500-600 kilometers above the Earth
