INDIA
India and Singapore deepen AI, chips ties as US tariff risks grow
“These efforts will generate new growth opportunities for both our countries,” Wong said, before the two leaders shared a hug on stage.
CURRENCY
Exporters lobby RBI for weaker Rupee to offset US tariffs
A weaker rupee rate for exporters would be risky for the central bank, though. It could damage broader sentiment toward the currency, which, in turn, could force the central bank to step up intervention in the foreign exchange market, causing a rapid erosion of India’s reserves.
BUSINESS
Asian stocks rise as weak US jobs fuel Fed bets
Australian bonds tracked Wednesday’s moves in Treasuries, with yields on the 10-year declining almost five basis points to 4.37%.
MARKETS
Jane Street’s India revenue shrank before SEBI trading ban
The roughly $500 million haul from India was on pace to total less than half the $2.3 billion Jane Street pulled in from that nation for all of 2024
WORLD
OPEC+ confronts the next stage in battle for oil market share
Saudi Arabia and its partners have yet to decide how to proceed after completing the fast-tracked addition of 2.5 million barrels a day that was finalized at its previous gathering
BUSINESS
Coal India's renewable plan looks at a future beyond coal
The state-owned company sought expressions of interest for the construction of 3 gigawatts of solar and 2 gigawatts of wind projects
BUSINESS
JPMorgan to boost corporate banking in India on investment jump
JPMorgan, which counts India and Japan as its two fastest-growing Asian markets in terms of revenue from corporate banking, expects no let-up in growth despite Washington doubling tariffs on many Indian imports to 50%.
BUSINESS
Asian stocks poised to track Wall Street declines
Equity-index futures pointed to a weaker open in Japan and Australia and a tepid open for Hong Kong. Earlier, the S&P 500 pared losses to close 0.7% lower.
TECHNOLOGY
OpenAI to buy product testing startup Statsig for $1.1 billion
Statsig, founded in 2021, builds tools to help software developers test and flag potential new features
WORLD
US holds back China trade threats as it weighs Russia sanctions
So far the White House has only imposed the tariffs on India over its purchases of Russian crude, but not China
MARKETS
Nvidia’s $340 billion rout drags stock below key technical level
The stock fell as much as 4% to $167.22 on Tuesday, set for a fourth straight negative session and dropping below its 50-day moving average of $171.02
MARKETS
Jane Street’s $10.1 billion trading haul sets Wall Street record
The revenue figure more than doubled from a year earlier, according to people with knowledge of the matter
BUSINESS
Jane Street’s $10.1 billion trading haul sets Wall Street record
A representative for New York-based Jane Street declined to comment on the firm’s results.
INDIA
India challenges high US tariffs on some copper imports at WTO
New Delhi told the WTO that the US tariffs were 'safeguard measures' and not notified by Washington as per the rules of the Geneva-based trade body
WORLD
US manufacturing activity contracted in August for a sixth month
The Institute for Supply Management’s manufacturing index came in at 48.7 last month, according to data released Tuesday
BUSINESS
Russian oil gets cheaper for India as US amps up criticism
The price of Urals crude has dipped to a discount of $3 to $4 a barrel to Brent on a delivered basis
ECONOMY
Russia’s oil cargoes flood to China as tariffs crimp India flows
Trump’s doubling of US import tariffs on goods from India to 50% appears to be hitting the flow of Moscow’s crude to the nation despite the defiance of the government in New Delhi
MARKETS
Globe Capital, Groww parent back India bourse’s derivatives push
NCDEX is raising Rs 770 crore ($87 million) by selling shares to a group of 61 investors
WORLD
Tesla’s China shipments suffer back-to-back drop as rivals gain
The electric vehicle maker shipped 83,192 units from the plant last month, according to preliminary data
BUSINESS
Kraft Heinz to separate into two publicly traded companies
The announcement unwinds a $46 billion merger a decade ago that united two iconic brands.
WORLD
Even the most-resilient glaciers are falling victim to climate change
A study published on Tuesday finds that a glacier in Tajikistan probably reached its tipping point in 2018, with conditions deteriorating since then
WORLD
Xi, Putin tighten ties in Beijing with apparent gas breakthrough
The head of Russia’s Gazprom PJSC said the gas giant has signed a legally binding agreement to build the long-anticipated Power of Siberia 2 pipeline to China via Mongolia
BUSINESS
ASML pitches for India business as PM Modi eyes local chip making
The Veldhoven, Netherlands-based company wants to deepen its collaboration with Indian companies in the year ahead
BUSINESS
Asian stocks edge up, Japan bond auction in focus
Japan’s 10-year government bond auction Tuesday will be a key test of investor appetite amid growing expectations of rate hikes by the Bank of Japan and mounting political uncertainty.
