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
BUSINESS
Gold holds just below record as traders wait for rate-path clues
Bullion was trading around $20 an ounce short of a record high set last week, after the Fed reduced rates by 25 basis points on Wednesday
BUSINESS
Asian shares rise as Japan rallies, dollar gains
The Nikkei-225 Index jumped 1.3% as trading kicked off in a new week, bouncing back after the Bank of Japan’s comments on ETF sales spooked the markets Friday
WORLD
Arab-Israel normalization faces major test after Qatar attack
Trump, who toured the Abrahamic Family House earlier this year, has been determined to expand the Accords, but that seems all but impossible at the present time
WORLD
Trump shapes immigration gilded age with $100,000 H-1B fee
Trump on Friday slapped a $100,000 application fee on the widely used H-1B visa program, a move that would drastically increase the cost of visas heavily coveted by some of America’s largest companies
WORLD
Trump renews pressure on Europe to end Russian oil purchases: 'They have to stop buying'
Trump has been chiding European countries for their Russian energy purchases
WORLD
Chinese savers have $23 trillion and few options beyond stocks
The CSI 300 Index has surged more than 25% since its April lows, fueled by enthusiasm over artificial intelligence and Donald Trump’s softer rhetoric on China
WORLD
Pentagon limits journalists’ access to military information
The new rule — part of an updated press credentialing process presented to news organizations this week — came in a memo by Pentagon spokesman Sean Parnell
WORLD
Billionaire Bernard Arnault says wealth tax advocate seeks to destroy economy
His comments come as France struggles to pass a budget and rein in its deficit amid a divided Parliament, which lacks a party with an absolute majority
