News

LG Corp to cancel own shares worth $356.8 bn by 2026 to boost corporate value LG Corp, the holding company of LG Group, said on Friday it will cancel its own shares worth 500 billion won ($356.8 million) by 2026 as part of a corporate value enhancement programme.  The company will cancel approximately 6.1 million treasury stocks, repurchased in June under its 2022 buyback programme, by 2026, according to LG Corp.'s value-up plan. The plan also includes a semi-annual dividend payment program starting next year, reflecting a stronger focus on shareholder r...
LG Corp to cancel own shares worth $356.8 bn by 2026 to boost corporate value
LG Corp to cancel own shares worth $356.8 bn by 2026 to boost corporate value
Source: IANS
2024-11-22 04:10:04 pm
Factbox-From Australia to Israel, Adani Group projects span the globe  Two major Adani Group projects in Kenya were scuttled after its founder Gautam Adani was indicted by U.S. prosecutors over his alleged role in a $265 million bribery scheme - allegations that his conglomerate has denied. Here is a list of the group's major overseas projects. HAIFA PORT IN ISRAEL Adani Ports, India's largest private ports operator, owns 70% of Haifa port in northern Israel while Israel's Gadot Group owns the rest. The firms bought the port in earl...
Factbox-From Australia to Israel, Adani Group projects span the globe
Factbox-From Australia to Israel, Adani Group projects span the globe
Source: Reuters
2024-11-22 03:17:20 pm
South Korean steelmakers call for thorough strategies for Donald Trump policy South Korean steelmakers on Friday called for establishing a joint consultative body with the government to devise strategies for expected policy changes by the Donald Trump administration, the industry ministry said.  Officials from major steelmakers, including POSCO and Hyundai Steel, made the call during a meeting with Industry Minister Ahn Duk-geun in Seoul, where they discussed potential impacts of new policy measures by the upcoming US government and their responses, according t...
South Korean steelmakers call for thorough strategies for Donald Trump policy
South Korean steelmakers call for thorough strategies for Donald Trump policy
Source: IANS
2024-11-22 11:54:15 am
VC funding in China drops 26.8 pc during Jan-Oct as India sees surge As India sees a surge in venture capital (VC) funding, China saw a steep 26.8 per cent decline in VC funding (by value) in the January-October period this year, according to a new report.  A total of 2,116 venture capital (VC) funding deals worth $28.2 billion were announced in China during January-October. “This represents a year-on-year (YoY) decline of 22.5 per cent in VC deal volume, whereas the total disclosed funding value fell by 26.8 per cent,” according to Glob...
VC funding in China drops 26.8 pc during Jan-Oct as India sees surge
VC funding in China drops 26.8 pc during Jan-Oct as India sees surge
Source: IANS
2024-11-22 11:24:21 am
Hyundai, Kia`s Europe sales down 7.5 pc in October  Combined vehicle sales of Hyundai Motor and Kia, South Korea's leading automakers, in Europe fell 7.5 per cent in October from a year ago, industry data showed on Thursday.  According to data from the European Automobile Manufacturers' Association (ACEA), Hyundai and Kia sold a combined 82,840 units in Europe last month. ACEA data showed Hyundai Motor's sales dropped 3.9 per cent to 41,594 units, while those of Kia dropped 11 per cent to 41,246 units, reports Yonh...
Hyundai, Kia`s Europe sales down 7.5 pc in October
Hyundai, Kia`s Europe sales down 7.5 pc in October
Source: IANS
2024-11-21 06:23:19 pm
China Unveils Policies to Boost Trade Amid Tariff Worries by Amit Gupta, Kedia Advisory China’s commerce ministry has introduced measures to support foreign trade amid fears of U.S. tariff hikes. The policies include boosting financing for exporters, stabilizing the yuan, and expanding agricultural exports. With U.S. President-elect Trump threatening steep tariffs on Chinese goods, manufacturers are concerned about potential trade disruptions. Trade has remained a key growth driver for China despite domestic economic challenges. The ministry also plans to promote imports o...
China Unveils Policies to Boost Trade Amid Tariff Worries by Amit Gupta, Kedia Advisory
China Unveils Policies to Boost Trade Amid Tariff Worries by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-11-21 05:07:29 pm
China's 2025 Growth Goal: 5% Target and Stronger Stimulus by Amit Gupta, Kedia Advisory Chinese government advisers are recommending a 5% growth target for 2025 despite ongoing trade tensions, particularly with the U.S. Experts argue that achieving this target would require stronger fiscal stimulus, especially to counter the impact of expected U.S. tariffs on exports. The advisers also urge increased domestic demand and reforms to support economic stability. Though Beijing's official target won't be announced until March, the proposed goal suggests China's commitment...
China's 2025 Growth Goal: 5% Target and Stronger Stimulus by Amit Gupta, Kedia Advisory
China's 2025 Growth Goal: 5% Target and Stronger Stimulus by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-11-21 11:44:16 am
Samsung introduces 2nd generation AI model `Gauss 2` Samsung Electronics on Thursday unveiled Gauss 2, the second generation of its generative artificial intelligence (AI) model, at an annual tech conference.  During a keynote address of the online Samsung Developer Conference Korea 2024, the company highlighted the improved performance, efficiency and various application possibilities of its latest AI model. Samsung Gauss, first introduced last year, is aimed at enhancing the work efficiency of workers by facilitating tasks, such as...
Samsung introduces 2nd generation AI model `Gauss 2`
Samsung introduces 2nd generation AI model `Gauss 2`
Source: IANS
2024-11-21 10:15:48 am
Nvidia reports strong revenue growth at $35.1 billion in AI era  World’s largest company Nvidia reported strong results for its third quarter (ended October 27) at $35.1 billion, up 17 per cent from the previous quarter and up 94 per cent from a year ago.  Nvidia has been a leader in AI, making it the most valuable company in the world with a market capitalisation of over $3.6 trillion. “The age of AI is in full steam, propelling a global shift to Nvidia computing. Demand for Hopper and anticipation for Blackwell — in ful...
Nvidia reports strong revenue growth at $35.1 billion in AI era
Nvidia reports strong revenue growth at $35.1 billion in AI era
Source: IANS
2024-11-21 10:02:57 am
Tokyo stocks retreat amid geopolitical, economic uncertainties Tokyo stocks retreated on Wednesday as investors grappled with heightened uncertainties surrounding US monetary policy and geopolitical tensions between Ukraine and Russia. The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, dropped 62.09 points, or 0.16 percent, to close at 38,352.34. Concerns over US economic resilience and inflation reignited fears of a slower rate-cut pace by the Federal Reserve, while escalating tensions between Ukraine and Russia further dampened...
Tokyo stocks retreat amid geopolitical, economic uncertainties
Tokyo stocks retreat amid geopolitical, economic uncertainties
Source: IANS
2024-11-21 09:25:51 am
Cambodia earns $472 million from rubber latex exports in 10 months Cambodia earned $472 million in revenue from exports of natural rubber latex in the first 10 months of 2024, up 22.5 per cent over the same period last year, an official report showed on Wednesday.  The kingdom exported 291,269 tonnes of the commodity during the January-October period this year, up 2.6 per cent over the same period last year, said the report of the General Directorate of Rubber, Xinhua news agency reported. "A ton of rubber latex averagely costs $1,621 during ...
Cambodia earns $472 million from rubber latex exports in 10 months
Cambodia earns $472 million from rubber latex exports in 10 months
Source: IANS
2024-11-21 09:05:16 am
South Korea has top rated 5G infrastructure among OECD nations South Korea has one of the best fifth-generation (5G) communications network infrastructures among the member states of the Organization for Economic Cooperation and Development (OECD), a report showed on Wednesday.  The country had the highest number of 5G base stations relative to its population, with 593 stations per 100,000 inhabitants, as of last year, followed by Lithuania and Finland, according to the latest OECD Digital Economy Outlook. The OECD average was at around 100 stati...
South Korea has top rated 5G infrastructure among OECD nations
South Korea has top rated 5G infrastructure among OECD nations
Source: IANS
2024-11-21 08:48:51 am
Date for resuming India-UK free trade talks to be finalised soon The Commerce and Industry Ministry announced on Wednesday that the schedule for holding the India-UK free trade talks in early 2025 would be finalised through diplomatic channels "at an early date".    "Subsequent to the meeting between Prime Minister Narendra Modi and the Prime Minister of the United Kingdom Keir Starmer on the sidelines of the G-20 Summit in Rio de Janeiro, Brazil, we welcome the announcement by the UK to relaunch the India-UK Free Trade talks i...
Date for resuming India-UK free trade talks to be finalised soon
Date for resuming India-UK free trade talks to be finalised soon
Source: IANS
2024-11-20 04:30:56 pm
PM Narendra Modi in Guyana to co-chair CARICOM summit  Prime Minister Narendra Modi left the Brazilian city for Guyana, saying the leaders at the G20 Summit "deepened global collaboration" for a better future.  "We had engaging conversations and deepened global collaboration in areas like sustainable development, growth, fighting poverty, and harnessing technology for a better future," he said before his departure on Tuesday. At the summit, he presented India's progress in overcoming poverty and fighting c...
PM Narendra Modi in Guyana to co-chair CARICOM summit
PM Narendra Modi in Guyana to co-chair CARICOM summit
Source: IANS
2024-11-20 02:57:42 pm
Samsung Biologics inks 2 new deals worth $668 mn with European pharma Samsung Biologics said on Wednesday it has won two new contract manufacturing deals with a combined value of 930.4 billion won ($667.7 million) from a Europe-based biopharmaceutical firm.  The deals, set to last until the end of 2031, are valued at 752.4 billion won and 178 billion won, respectively, according to the company's regulatory filing. Other details remained undisclosed under a confidentiality agreement. Samsung Biologics said it has secured a total of 11 deals with a...
Samsung Biologics inks 2 new deals worth $668 mn with European pharma
Samsung Biologics inks 2 new deals worth $668 mn with European pharma
Source: IANS
2024-11-20 10:56:22 am
Meghalaya exports one MT Khasi Mandarin oranges to Dubai Meghalaya exported one Metric Tonne (MT) of Khasi Mandarin oranges to Dubai through Air India Cargo, officials said on Tuesday. Meghalaya government’s Department of Agriculture and Farmers Welfare exported the season’s first consignment of Khasi Mandarin, which was transported via Air India Cargo from Guwahati Customs to Dubai on Monday, marking the first-ever direct export shipment from the northeastern region using this route. The Khasi Mandarin oranges obtained the Geogra...
Meghalaya exports one MT Khasi Mandarin oranges to Dubai
Meghalaya exports one MT Khasi Mandarin oranges to Dubai
Source: IANS
2024-11-19 03:45:34 pm
Italy`s Enel unveils 43-billion-euro plan to increase renewable energy production Italian energy group Enel announced a plan to spend around 43 billion euros ($45.6 billion) over the next three years, mostly to improve energy grid efficiency and boost renewable energy production.  In a statement, Enel said it would spend a total of 26 billion euros to improve and expand its grids, with 78 per cent of the total to be spent in Europe -- Italy and Spain -- and the remainder in Latin America, Xinhua news agency reported. The next biggest category in the investment p...
Italy`s Enel unveils 43-billion-euro plan to increase renewable energy production
Italy`s Enel unveils 43-billion-euro plan to increase renewable energy production
Source: IANS
2024-11-19 02:11:56 pm
Asian stocks rise, dollar weak as US yields tick down Asian stocks rose on Tuesday while U.S. bond yields and the dollar hung back from multi-month highs as traders awaited President-elect Donald Trump's cabinet selection and sought to gauge the outlook for Federal Reserve easing. Tech shares advanced, tracking Wall Street's recovery from last week's steep losses although Nvidia's upcoming earnings on Wednesday limited the scope for big moves. Markets have pared bets for a quarter-point interest-rate cut at the Fed's ne...
Asian stocks rise, dollar weak as US yields tick down
Asian stocks rise, dollar weak as US yields tick down
Source: Reuters
2024-11-19 08:56:19 am
South Korea aims to develop 39 global chip industry standards by 2031 South Korea's standards agency said on Monday it plans to develop 39 new international standards in the semiconductor sector by 2031 to bolster its competitive edge in the field.  The road map was unveiled by the Korea Agency for Technology and Standards (KATS) during an industry forum, as part of a broader strategy aimed at gaining an early lead in the global semiconductor market. KATS outlined its objective to develop more than 15 new international standards in semiconductor ...
South Korea aims to develop 39 global chip industry standards by 2031
South Korea aims to develop 39 global chip industry standards by 2031
Source: IANS
2024-11-18 12:07:58 pm
Naver to launch JV for digital twin projects in Saudi Arabia South Korean tech giant Naver said on Monday it will establish a joint venture with Saudi Arabia's state housing company to collaborate for digital twin platform projects in the Middle East.  Naver and Saudi Arabia's National Housing Company signed a memorandum of understanding for the establishment of the joint venture during Cityscape Global 2024, a Middle Eastern real estate convention, held in Riyadh last week, according to the Korean company. Digital twin platforms, wh...
Naver to launch JV for digital twin projects in Saudi Arabia
Naver to launch JV for digital twin projects in Saudi Arabia
Source: IANS
2024-11-18 10:15:46 am
LG Energy to supply batteries for US-based Bear Robotics LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Monday it has signed an initial pact with US-based Bear Robotics to become its sole supplier of cylindrical batteries.  LGES signed a memorandum of understanding with the Silicon Valley-based artificial intelligence autonomous service robot company to supply its cylindrical battery cells for Bear Robotics' flagship robots, such as Servi Plus and Carti 100, from next year, the company said in a statemen...
LG Energy to supply batteries for US-based Bear Robotics
LG Energy to supply batteries for US-based Bear Robotics
Source: IANS
2024-11-18 09:58:41 am
Israel`s economy sees recovery with 3.8 per cent growth Israel's economy grew at a faster pace in the third quarter of 2024, with its gross domestic product (GDP) rising by an annualised 3.8 per cent, the Central Bureau of Statistics said in an initial estimate.  For the second quarter of 2024, the bureau revised the GDP growth to 0.7 per cent year-on-year in its second estimate in September, down from an initial 1.2 per cent reported a month ago, Xinhua news agency reported. The overall growth is mainly driven by a year-on-year 8.6...
Israel`s economy sees recovery with 3.8 per cent growth
Israel`s economy sees recovery with 3.8 per cent growth
Source: IANS
2024-11-18 09:51:08 am
Shares rise ahead of Nvidia results; BOJ's Ueda offers few rate hints  Global stocks began the week on firmer footing ahead of a highly anticipated earnings release from Nvidia, while in Japan, a speech from its central bank's head left markets none the wiser on the country's rate outlook. Bank of Japan Governor Kazuo Ueda reiterated on Monday the central bank will keep raising interest rates if economic and price developments move in line with its forecasts, but made no mention of whether a hike could come in December. His speech had been cl...
Shares rise ahead of Nvidia results; BOJ's Ueda offers few rate hints
Shares rise ahead of Nvidia results; BOJ's Ueda offers few rate hints
Source: Reuters
2024-11-18 08:58:30 am
Samsung top pick for retail investors after US election Retail investors scooped up 2.33 trillion won ($1.67 billion) worth of Samsung Electronics stocks since the U.S. presidential election, the country's main bourse said on Sunday.  Individuals purchased the chipmaker on bargain hunting for eight trading sessions through November 15 despite massive selloffs by foreigners, according to data from the Korea Exchange (KRX). Foreign investors offloaded 2.48 trillion won worth of Samsung Electronics stocks during the eight-session perio...
Samsung top pick for retail investors after US election
Samsung top pick for retail investors after US election
Source: IANS
2024-11-17 11:05:38 am
Foreign currency deposits down for 1st time in 5 months in South Korea Foreign currency deposits fell for the first time in five months in October on sagging corporate demand for U.S. dollar-denominated deposits and increasing import settlements amid a weak Korean currency, central bank data showed on Sunday.  Residents' outstanding foreign currency-denominated deposits reached $98.97 billion as of end-October, down $5.1 billion from a month earlier, according to the data from the Bank of Korea (BOK). The figure had climbed from June through Septe...
Foreign currency deposits down for 1st time in 5 months in South Korea
Foreign currency deposits down for 1st time in 5 months in South Korea
Source: IANS
2024-11-17 10:38:32 am
Foreign ownership of South Korean stocks at yearly low Foreign ownership of South Korean shares fell to the lowest level of this year following Donald Trump's presidential reelection, data showed on Sunday.  Foreign holdings of Korean stocks on the main bourse KOSPI accounted for 32.3 per cent, or 637.48 trillion won ($456 billion), of the market capitalisation worth 1,973.51 trillion won as of Friday, according to the data compiled by the Korea Exchange. Foreign investors held 32.7 percent of KOSPI-listed stocks early this year bu...
Foreign ownership of South Korean stocks at yearly low
Foreign ownership of South Korean stocks at yearly low
Source: IANS
2024-11-17 10:26:36 am
Uzbekistan continues gas accounting, control to ensure stable supply Uzbekistan will "resolutely" continue gas accounting and control in industries to ensure a stable supply and reduce losses, Uzbek President Shavkat Mirziyoyev said.  At a meeting on energy supply, Mirziyoyev emphasised the need to reduce and optimise costs, accelerate reforms in the gas sector, and expand exploration efforts by engaging leading foreign companies, according to the president's press service, Xinhua news agency reported. Though gas losses have decreased ...
Uzbekistan continues gas accounting, control to ensure stable supply
Uzbekistan continues gas accounting, control to ensure stable supply
Source: IANS
2024-11-17 09:13:52 am
S&P revises South Africa`s outlook to positive South Africa welcomed the ratings agency Standard & Poor's (S&P) Global's decision to revise the country's outlook from "stable" to "positive," citing improved reform and growth potential.  In a statement released late on Friday night, S&P said: "The positive outlook reflects our view that increased political stability following the May general elections and impetus for reform could boost private investment and GDP growth, Xinhua ne...
S&P revises South Africa`s outlook to positive
S&P revises South Africa`s outlook to positive
Source: IANS
2024-11-17 09:09:55 am
Russia`s energy giant to stop gas deliveries to Austria Austrian energy company OMV said that Russia's energy giant Gazprom will suspend gas deliveries to Austria starting Saturday.  The move came after OMV announced on Wednesday that an arbitration ruling by the International Chamber of Commerce awarded it 230 million euros ($242 million) in a dispute with Gazprom over the latter's irregular gas deliveries. OMV said in a statement that the award would be offset "with immediate effect" against its payment obligations t...
Russia`s energy giant to stop gas deliveries to Austria
Russia`s energy giant to stop gas deliveries to Austria
Source: IANS
2024-11-16 03:20:51 pm
Festival of Australia showcases Australia`s Excellence in Education and Premium F&B products in Mumbai The Australian Trade and Investment Commission (Austrade) organised first-of-its-kind 4-city showcase titled “Festival of Australia” in Mumbai that brought together Australia’s top-quality institutions, universities, retail and other trade partners on a single platform and showcased Australia’s premium F&B products to Indian consumers. After Mumbai, Austrade will hold the festival in Hyderabad (16 November), Bengaluru (18 November) and Kochi (20 November). Th...
Festival of Australia showcases Australia`s Excellence in Education and Premium F&B products in Mumbai
Festival of Australia showcases Australia`s Excellence in Education and Premium F&B products in Mumbai
Source: PR Agency
2024-11-16 02:03:26 pm
South Korean President proposes forum for AI standards among APEC economies South Korean President Yoon Suk Yeol proposed establishing a forum among Asia-Pacific Economic Cooperation (APEC) members to set standards to promote the integration of Artificial intelligence (AI) and manufacturing industries.  Yoon stressed APEC's significant role in global manufacturing during the APEC CEO summit, a business forum held alongside the APEC summit in Lima, as he noted the world has ushered in an "era of grand AI transition" that affects corporate competi...
South Korean President proposes forum for AI standards among APEC economies
South Korean President proposes forum for AI standards among APEC economies
Source: IANS
2024-11-16 12:09:42 pm
Sri Lanka, Afghanistan among over 10 countries likely to follow India`s generic pharmacy model More than 10 countries are looking to imbibe India's generic pharmacy model to make affordable medicines accessible to the public, according to reports.  In July, Mauritius became the first country to launch the International Janaushadhi Kendra, enabling it to source about 250 high quality medicines from the Pharmaceuticals and Medical Devices Bureau of India. It includes cardiovascular, analgesic, ophthalmic, and anti-allergic drugs. Nepal, Sri Lanka, Bhutan, Ghana, Suriname, ...
Sri Lanka, Afghanistan among over 10 countries likely to follow India`s generic pharmacy model
Sri Lanka, Afghanistan among over 10 countries likely to follow India`s generic pharmacy model
Source: IANS
2024-11-16 12:03:43 pm
Germany Faces Economic Challenges Amid Weak Growth Prospects by Amit Gupta, Kedia Advisory Germany's economy is set to underperform the eurozone average until 2026, as per the European Commission’s Autumn Forecast. While the eurozone is projected to grow at 0.8% in 2024, Germany is expected to face a 0.1% GDP contraction due to weakened global demand and high uncertainty affecting consumption and investment. Inflation has eased significantly, reaching 2.4% in October 2024, compared to a peak of 11.6% in 2022. Growth is anticipated to recover modestly in 2025 and 2026, sup...
Germany Faces Economic Challenges Amid Weak Growth Prospects by Amit Gupta, Kedia Advisory
Germany Faces Economic Challenges Amid Weak Growth Prospects by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-11-16 10:00:45 am
Japan`s GDP Growth Slows in Q3 Amid Weak Exports by Amit Gupta, Kedia Advisory Japan's GDP grew 0.9% year-on-year in Q3, slightly exceeding expectations but marking a sharp slowdown from the previous quarter's revised 2.2%. Quarter-on-quarter, growth was just 0.2%, driven primarily by private consumption, which grew 0.9%, far surpassing expectations. However, external demand fell by 0.4%, signaling challenges for exporters amid a stronger yen earlier in the quarter. Inflation growth also slowed, as indicated by a softer GDP price index. The subdued GDP data cast...
Japan`s GDP Growth Slows in Q3 Amid Weak Exports by Amit Gupta, Kedia Advisory
Japan`s GDP Growth Slows in Q3 Amid Weak Exports by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-11-16 09:55:51 am
Battery stocks plunge on possible scrapping of US tax credit  South Korean battery stocks plunged on Friday on reports that President-elect Donald Trump's transition team plans to scrap the $7,500 tax credit for EV purchases as part of broader tax legislation.  Trump campaigned on ending the consumer tax credit, a key part of President Joe Biden's Inflation Reduction Act (IRA). And the transition team said Trump would keep his pledges, according to earlier news reports. The news added to woes of local EV battery stocks already s...
Battery stocks plunge on possible scrapping of US tax credit
Battery stocks plunge on possible scrapping of US tax credit
Source: IANS
2024-11-16 09:26:43 am
Bangladesh`s October foreign reserves fall below 20 billion USD Bangladesh's foreign exchange reserves fell below 20 billion US dollars by the end of October 2024, the latest Central Bank data showed.  The Bangladesh Bank data showed the country's foreign exchange reserves stood at 19,844 million dollars on October 31, according to the International Monetary Fund (IMF) calculation method. After the payment of the Asian Clearing Union, an arrangement for settling payments for intra-regional transactions among its members last week, the c...
Bangladesh`s October foreign reserves fall below 20 billion USD
Bangladesh`s October foreign reserves fall below 20 billion USD
Source: IANS
2024-11-16 09:22:48 am
Tokyo stocks end higher on bargain-hunting, exporter gains Tokyo stocks ended higher on Friday with the benchmark Nikkei snapping a three-day losing streak as investors bought battered shares, while a weaker yen boosted exporters including automakers.  Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 107.21 points, or 0.28 per cent, from Thursday at 38,642.91, Xinhua news agency reported. The broader Topix index, meanwhile, finished 10.42 points, or 0.39 per cent, higher at 2,711.64. Stocks rose as ...
Tokyo stocks end higher on bargain-hunting, exporter gains
Tokyo stocks end higher on bargain-hunting, exporter gains
Source: IANS
2024-11-16 09:16:57 am
Global brokerage CLSA shifts `tactical allocation` to India from China In good news for the domestic stock market, global brokerage CLSA has shifted its "tactical allocation" to India from China, citing growing concerns over Beijing’s economy and investor sentiment after the US presidential election.  In a note titled ‘Pouncing Tiger, Prevaricating Dragon,” the global brokerage changed its stance after Donald Trump’s return as the 47th US President and foreign institutional investor (FII) outflows reached around Rs 1.44 ...
Global brokerage CLSA shifts `tactical allocation` to India from China
Global brokerage CLSA shifts `tactical allocation` to India from China
Source: IANS
2024-11-16 09:06:06 am
Mukesh Ambani`s Reliance asks India to review reach of Elon Musk`s Starlink, Amazon Billionaire Mukesh Ambani's Reliance has asked India's telecom regulator to review the potential reach of Elon Musk's Starlink and Amazon's Kuiper before awarding satellite spectrum amid concerns local players could suffer, a letter showed on Friday. Reliance's letter, which is not public, is Ambani's last-ditch effort in an ongoing face-off with Musk over how India should grant spectrum for satellite services. While Reliance has called for an auction, India has sid...
Mukesh Ambani`s Reliance asks India to review reach of Elon Musk`s Starlink, Amazon
Mukesh Ambani`s Reliance asks India to review reach of Elon Musk`s Starlink, Amazon
Source: Reuters
2024-11-16 08:59:56 am
In a first, Nepal`s power will now reach Bangladesh via Indian grid  Union Minister for Power, Manohar Lal on Friday jointly inaugurated the flow of power from Nepal to Bangladesh through the Indian grid along with Md. Fouzul Kabir Khan, Advisor, Ministry of Power, Bangladesh and Dipak Khadka, Nepal’s Minister of Energy, in a virtual event hosted by Nepal's Ministry of Energy, Water Resources and Irrigation. This historic occasion marks the first trilateral power transaction which has been carried out through the Indian grid. The start of th...
In a first, Nepal`s power will now reach Bangladesh via Indian grid
In a first, Nepal`s power will now reach Bangladesh via Indian grid
Source: IANS
2024-11-16 08:51:02 am
South Korean banks` loan delinquency ratio falls in September South Korean banks' loan delinquency ratio fell in three months due to more bad loan settlements than new delinquent loans, financial watchdog data showed on Friday.  Bank loans, overdue at least one month, accounted for 0.45 per cent of the total at the end of September, down 0.08 percentage points from a month earlier, according to the Financial Supervisory Service (FSS), Xinhua news agency reported. The bad loan ratio shifted downward after advancing 0.05 percentage points i...
South Korean banks` loan delinquency ratio falls in September
South Korean banks` loan delinquency ratio falls in September
Source: IANS
2024-11-15 04:56:41 pm
IRENA unveils partnership to accelerate renewable energy deployment in Central Asia The International Renewable Energy Agency (IRENA) on Friday unveiled a new partnership model that can accelerate renewable energy deployment and foster green industrialisation in Central Asia.  The partnership was launched by IRENA at the COP29 Energy Transition Investment Forum for Central Asia. The two-day forum took place at the United Nations Climate Change Conference, also known as COP29, in Baku, Azerbaijan, and is co-hosted by IRENA, the COP29 Presidency, and the Ministry of...
IRENA unveils partnership to accelerate renewable energy deployment in Central Asia
IRENA unveils partnership to accelerate renewable energy deployment in Central Asia
Source: IANS
2024-11-15 04:44:48 pm
Citigroup warns Donald Trump`s policies may slow growth in emerging markets  Citigroup analysts anticipate that emerging market stocks will underperform compared to global peers following Donald Trump's recent victory in the U.S. presidential election, despite China's recent policy initiatives and global economic growth. The brokerage said in a note on Thursday it expects Trump's trade policies to be a drag on global growth, while consequent U.S. dollar strength could further pressure emerging market assets. It expects Saudi Arabia and India to...
Citigroup warns Donald Trump`s policies may slow growth in emerging markets
Citigroup warns Donald Trump`s policies may slow growth in emerging markets
Source: Reuters
2024-11-15 04:30:57 pm
Samsung to buy back stock worth $7.16 billion to boost shareholder value Samsung Electronics said on Friday it will buy back its own shares worth a combined 10 trillion won ($7.16 billion) over the next year as part of efforts to boost its shareholder value following a recent slide in its stock price.  In the buyback plan approved by the board of directors, a combined 3 trillion won of shares will be bought back within three months starting Monday and continuing until February 17, the company said in a statement. For the remaining 7 trillion won, the co...
Samsung to buy back stock worth $7.16 billion to boost shareholder value
Samsung to buy back stock worth $7.16 billion to boost shareholder value
Source: IANS
2024-11-15 04:10:16 pm
India, Australia hold talks on bolstering agri-tech ties In a bid to further strengthen the bilateral relationship between India and Australia and to explore new opportunities for collaboration in the agriculture and allied sectors, Australian High Commissioner Philip Green held talks with Devesh Chaturvedi, Secretary of the Department of Agriculture and Farmers’ Welfare, at Krishi Bhawan here, according to an official statement issued on Friday.  Chaturvedi outlined India's current priorities in agriculture, emphasizing that the ...
India, Australia hold talks on bolstering agri-tech ties
India, Australia hold talks on bolstering agri-tech ties
Source: IANS
2024-11-15 01:44:25 pm
India `s insurance sector growth surpasses China, Thailand: McKinsey India’s insurance sector clocked a robust 11 per cent compound annual growth rate to cross the $130 billion mark during FY2020-23, surpassing Asian peers China and Thailand, which grew at less than 5 per cent, according to a McKinsey report.  The report. titled 'Steering Indian Insurance from Growth to Value in the Upcoming Techade’, said that while the country's life insurance industry grew to $107 billion as of 2023, the general insurance industry touched $35.2 b...
India `s insurance sector growth surpasses China, Thailand: McKinsey
India `s insurance sector growth surpasses China, Thailand: McKinsey
Source: IANS
2024-11-15 12:09:53 pm
South Korean trade minister discusses supply chain at APEC CEO summit Trade Minister Cheong In-kyo attended an economic event for business executives at the Asia-Pacific Economic Cooperation (APEC) summit in Peru, where he exchanged views on the global supply chain with other participants, his office said on Friday.  Cheong also highlighted that his country sought to gain insights from Peru about preparing for the annual summit of 21 global leaders as Seoul is set to host the 2025 APEC summit in Gyeongju, 275 kilometers southeast of Seoul, reports Yonha...
South Korean trade minister discusses supply chain at APEC CEO summit
South Korean trade minister discusses supply chain at APEC CEO summit
Source: IANS
2024-11-15 10:13:40 am
Dollar set for big weekly gain as Powell sends yields up, China data mixed The U.S. dollar was poised for a big weekly gain on Friday, towering near one-year highs as a hawkish turn from the Federal Reserve chief sent short-term Treasury yields higher, leaving equities in the red. Asian shares looked to end a brutal week on a steadier note, helped by Chinese data showing retail sales in the world's second-biggest economy beat forecasts in October in a welcome sign for consumer spending, although other indicators missed. Overnight, Fed Chair Jerome Powell s...
Dollar set for big weekly gain as Powell sends yields up, China data mixed
Dollar set for big weekly gain as Powell sends yields up, China data mixed
Source: Reuters
2024-11-15 09:23:59 am