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Oil falls on stronger U.S. dollar, China worries; heading for weekly gain Oil extended losses on Friday, further receding from this week's 10-month highs, as fears about the health of China's slowing economy and a stronger U.S. dollar wiped out the gains triggered by supply cuts from major producers Saudi Arabia and Russia. Brent crude futures dropped 51 cents, or 0.6%, to $89.41 a barrel by 0355 GMT, while U.S. West Texas Intermediate crude (WTI) futures declined 58 cents, or 0.7%, to $86.29. Both benchmarks reached 10-month highs earlier this week o...
Oil falls on stronger U.S. dollar, China worries; heading for weekly gain
Oil falls on stronger U.S. dollar, China worries; heading for weekly gain
Source: Reuters
8/09/2023 9:12:58 AM
Stocks stumble as `dollar juggernaut` on a roll Asia's stockmarkets dipped on Friday, with tech shares tumbling on deepening Sino-U.S. tensions, while the dollar was set to seal its longest winning streak in nine years as investors braced for U.S. interest rates to stay higher for longer. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2% in early trade and is down 1.4% for the week. Hong Kong markets were closed for the morning due to storms lashing the city. Japan's Nikkei fell 0.8%. Some $200 billion ...
Stocks stumble as `dollar juggernaut` on a roll
Stocks stumble as `dollar juggernaut` on a roll
Source: Reuters
8/09/2023 8:56:45 AM
Agro-chemical industry to grow more than 9% notwithstanding competition from China: NITI Aayog member Government think tank Niti Aayog member Ramesh Chand has said that India's agro-chemical industry has the potential to grow more than the current nine per cent notwithstanding the competition from China. He also observed that many Western countries are shifting from agrochemicals to biopesticides and the Indian industry needs to pay attention to this aspect. He urged the Agro Chem Federation of India (ACFI) to come out with a document on ease of doing business in agrochemicals. Chand h...
Agro-chemical industry to grow more than 9% notwithstanding competition from China: NITI Aayog member
Agro-chemical industry to grow more than 9% notwithstanding competition from China: NITI Aayog member
Source: Accord Fintech
7/09/2023 12:36:34 PM
Gold hovers near 1-week low as dollar firms on US data Gold prices lingered near a one-week low on Thursday following five consecutive sessions of losses as the dollar sat atop mid-March highs after data showed the U.S. services sector unexpectedly gained steam in August. Spot gold was steady at $1,919.68 per ounce by 0410 GMT, but still hovered close to its lowest level since Aug. 29 hit in the previous session. U.S. gold futures held their ground at $1,944.00. The U.S. dollar was perched at its highest since March 16 and the benchmark U.S...
Gold hovers near 1-week low as dollar firms on US data
Gold hovers near 1-week low as dollar firms on US data
Source: Reuters
7/09/2023 10:29:27 AM
Dollar firm on growth worries, fragile yen draws warning The dollar perched near a six-month peak on Wednesday as jitters over China and global growth dragged on risk sentiment, while the yen was close to a 10-month low, drawing the strongest warning since mid-August from Japan's top currency diplomat. The yen was at 147.66 per dollar in early Asian hours, just shy of 147.8 per dollar, the lowest since Nov. 4 it touched overnight. The Asian currency has hovered around the key 145 per dollar level for the past few weeks, leading traders to ke...
Dollar firm on growth worries, fragile yen draws warning
Dollar firm on growth worries, fragile yen draws warning
Source: Reuters
6/09/2023 8:50:07 AM
Asia stocks fall as global growth concerns mount Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. MSCI's gauge of Asia Pacific stocks outside Japan was down 0.5% at 0143GMT. Australia's S&P/ASX 200 fell 0.55% even as second-quarter gross domestic product beat forecasts with a 0.4% rise. The Hang Seng Index and China's benchmark CSI300 Index both opened down about 0.3%. ...
Asia stocks fall as global growth concerns mount
Asia stocks fall as global growth concerns mount
Source: Reuters
6/09/2023 8:45:59 AM
China`s stimulus measures expected to boost prices for ferrous metals in international market The steel demand in India is expected to pick up from September’23 onwards as construction activities pick up pace post the monsoon season with new projects coming on stream, Motilal Oswal Financial Services said in a report. China’s stimulus measures are also expected to boost prices for ferrous metals in the international market and we expect the steel prices in the export market to improve in the coming weeks. Indian domestic consumption story continues to remain robust w...
China`s stimulus measures expected to boost prices for ferrous metals in international market
China`s stimulus measures expected to boost prices for ferrous metals in international market
Source: IANS
5/09/2023 2:54:54 PM
Rupee weakens against US dollar on Tuesday Indian rupee weakened against the US dollar on Tuesday weighed down by firm crude oil prices on expectations of an extension in output cuts by leading Opec+ members Saudi Arabia and Russia. Moreover, foreign fund outflows from capital markets also dampened rupee sentiments. However, growing hopes of more stimulus measures in China and Fed’s pause in its interest rate hikes limited further weakness in rupee. Foreign Institutional Investors were net sellers in the capital markets on Monda...
Rupee weakens against US dollar on Tuesday
Rupee weakens against US dollar on Tuesday
Source: Accord Fintech
5/09/2023 12:15:41 PM
Asian shares slip as China optimism fades; RBA in focus Asian equities fell on Tuesday as the spotlight remained on China and its efforts to stabilise its stuttering post-pandemic economy, while traders awaited the outcome of a policy meeting of the Reserve Bank of Australia. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.75% lower at 511.14, moving away from 515.37, the highest level since Aug. 11 it touched on Monday. China shares clocked their best day in over a month on Monday on the back of fresh measures to help b...
Asian shares slip as China optimism fades; RBA in focus
Asian shares slip as China optimism fades; RBA in focus
Source: Reuters
5/09/2023 8:46:22 AM
India monitoring steel import situation -Government official India is monitoring the import situation on steel after shipments from China touched a five-year high in the first four months of the fiscal year that began in April, the country's steel secretary told Reuters on Monday
India monitoring steel import situation -Government official
India monitoring steel import situation -Government official
Source: Reuters
4/09/2023 12:26:09 PM
Oil rises on China, US economic data and OPEC+ cut expectations Oil prices ticked up in Asian morning trade on Monday, as market sentiment was buoyed by positive China and U.S. economic data, as well as expectations of ongoing crude supply cuts from major producers. Brent crude was up 17 cents, or 0.2%, at $88.72 a barrel at 0015 GMT. U.S. West Texas Intermediate crude (WTI) rose 25 cents, roughly 0.3%, to $85.80. The sustained upward price movement comes after both contracts settled at their highest levels in more than half a year last week, breaki...
Oil rises on China, US economic data and OPEC+ cut expectations
Oil rises on China, US economic data and OPEC+ cut expectations
Source: Reuters
4/09/2023 8:49:46 AM
China`s Global Economic Impact: Shaping the Growth Rate By Amit Gupta, Kedia Advisory Below The Perspective On China's Global Economic Impact: Shaping the Growth Rate By Mr. Amit Gupta, Kedia Advisory In today's interconnected world, the backlash from China's economic transformation is felt far beyond borders. As the world's second-largest economy and a major player in world trade, China has a significant impact on global growth. A thorough understanding of China's economic dynamics is essential because shocks delivered from commodity markets, inter...
China`s Global Economic Impact: Shaping the Growth Rate By Amit Gupta, Kedia Advisory
China`s Global Economic Impact: Shaping the Growth Rate By Amit Gupta, Kedia Advisory
Source: Kedia Advisory
1/09/2023 4:01:45 PM
India`s April-July finished steel imports from China at five-year high India's finished steel imports from China touched a five-year high in the first four months of the fiscal year that began in April, according to provisional government data reviewed by Reuters. During April-July, China was the second-biggest steel exporter to India, selling 0.6 million metric tons, up 62% from the same period a year earlier. In all, India imported 2 million metric tons of finished steel in the period, the highest since 2020 and up 23% from a year earlier. China, ...
India`s April-July finished steel imports from China at five-year high
India`s April-July finished steel imports from China at five-year high
Source: Reuters
31/08/2023 4:20:39 PM
Bonds rally, stocks drift as China boost fades Asian equity markets struggled for direction on Tuesday as the bounce from Beijing's efforts to support stocks ebbed, while bonds rallied and the dollar dipped ahead of U.S. labour and manufacturing data due later in the week. Amid growing expectations those data points could come in soft, U.S. Treasuries extended overnight gains, driving two-year yields down 6.5 basis points (bps) to 4.9855% and 10-year yields down three bps to 4.1843%. [US/] That put some gentle pressure on the do...
Bonds rally, stocks drift as China boost fades
Bonds rally, stocks drift as China boost fades
Source: Reuters
29/08/2023 8:55:11 AM
Asia shares rally as China measures boost market Asian shares rallied on Monday as China announced new measures to support its ailing markets, though the mood was cautious ahead of readings on U.S. jobs and inflation that could decide whether interest rates have to rise again. Beijing on Sunday announced it would halve the stamp duty on stock trading in the latest attempt to boost the struggling market and followed steps to support the housing market The help was needed given profits at China's industrial firms fell 6.7% in July f...
Asia shares rally as China measures boost market
Asia shares rally as China measures boost market
Source: Reuters
28/08/2023 8:45:06 AM
Chinese minister says India free to join RCEP trade bloc India is free to join the Regional Comprehensive Economic Partnership (RCEP), China's Vice Commerce Minister Wang Shouwen said on Friday in New Delhi, adding that it would boost trade between India and China which is growing "very fast". The RCEP is the world's largest trade bloc backed by China and groups 15 Asia-Pacific economies, including Australia, Japan, New Zealand and 10 member-states of the Association of Southeast Asian Nations (ASEAN). Relations have soured ...
Chinese minister says India free to join RCEP trade bloc
Chinese minister says India free to join RCEP trade bloc
Source: Reuters
26/08/2023 10:07:29 AM
India`s growth rate expected to be highest in near future: Finance Secretary India's growth rate is expected to be the highest in the near future, which will make it one of the biggest development opportunities, Finance Secretary T.V. Somanathan was quoted as saying at an event, according to reports. He said that India is already the world's fifth largest economy and also the world's largest country in terms of population. Also, India's growth rate is much faster than the top four nations, namely the US, China, Japan and Germany. "We can saf...
India`s growth rate expected to be highest in near future: Finance Secretary
India`s growth rate expected to be highest in near future: Finance Secretary
Source: IANS
25/08/2023 10:02:45 AM
Gold stabilises near $1,900 level ahead of Jackson Hole meet Gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilise near a key $1,900 level ahead of a central bankers' gathering that would likely provide cues on interest rates outlook. FUNDAMENTALS * Spot gold was up 0.2% at $1,900.30 per ounce by 0123 GMT, while U.S. gold futures rose 0.2% to $1,929.40. * The dollar index was sitting below two-month highs, while a rally that took U.S. Treasury yields to nearly 16-year highs took a...
Gold stabilises near $1,900 level ahead of Jackson Hole meet
Gold stabilises near $1,900 level ahead of Jackson Hole meet
Source: Reuters
23/08/2023 8:58:18 AM
Rupee strengthens against US dollar on Tuesday Indian Rupee strengthened against the US dollar on Tuesday, tracking firm domestic equities and as the American currency retreated from its elevated levels. However, concerns over foreign fund outflows and deteriorating economic situation in China limited further gains. Foreign Institutional Investors were net sellers in the capital markets on Monday as they offloaded shares worth Rs 1,901.10 crore, exchange data showed. Meanwhile, investors are eagerly awaiting US Federal Reserve's Jacks...
Rupee strengthens against US dollar on Tuesday
Rupee strengthens against US dollar on Tuesday
Source: Accord Fintech
22/08/2023 11:56:31 AM
Oil dips on possible easing of tight supply, China woes hurt demand outlook Oil edged lower on Tuesday as the market waited to see if Iraqi oil exports resume, which could ease the supply tightness caused by the OPEC+ cut, while a faltering Chinese economy continued to undercut the global demand outlook. Brent crude was down 8 cents at $84.38 a barrel and U.S. West Texas Intermediate crude was trading 7 cents lower at $80.65 a barrel at 0241 GMT. WTI's contract with September expiry slipped 8 cents at $80.04 a barrel. "Crude oil struggled to keep its h...
Oil dips on possible easing of tight supply, China woes hurt demand outlook
Oil dips on possible easing of tight supply, China woes hurt demand outlook
Source: Reuters
22/08/2023 8:55:06 AM
Evergrande`s bankruptcy may be the beginning of China`s real estate crisis Property developer Evergrande's US bankruptcy serves as a cautionary tale about the growth-at-all-costs model that underpinned China's spectacular growth over the past 30 years, the media reported. For decades, Evergrande, once one of China's most successful real estate developers, gobbled up debt as China's economy exploded. Demand for housing was so strong, homebuilders often pre-sold apartment units to buyers before construction was complete, CNN reported.  But a...
Evergrande`s bankruptcy may be the beginning of China`s real estate crisis
Evergrande`s bankruptcy may be the beginning of China`s real estate crisis
Source: IANS
19/08/2023 12:23:00 PM
Hyundai partners Chinese EV firm for charging services in China Hyundai Motor Group said on Monday it has partnered with Chinese electric vehicle (EV) charging service information provider NaaS Technology for future EV charging business opportunities. Hyundai signed an initial pact with Naas at the Chinese firm's headquarters in Beijing on Monday to jointly develop customized EV charging services based on its connected services platform and NaaS' charging infrastructure data, the company said in a statement. NaaS, the first U.S.-listed EV ch...
Hyundai partners Chinese EV firm for charging services in China
Hyundai partners Chinese EV firm for charging services in China
Source: IANS
14/08/2023 5:47:09 PM
Asia suffers China blues; dollar hits 2023 top on yen Asian shares struggled on Monday ahead of China data that is likely to amplify the case for serious stimulus even as Beijing seems deaf to the calls, while rising Treasury yields lifted the dollar to a 2023 peak on the embattled yen. Geopolitics was an added worry after a Russian warship on Sunday fired warning shots at a cargo ship in the southwestern Black Sea, heralding a new stage of the war that could impact on oil and food prices. MSCI's broadest index of Asia-Pacific shares o...
Asia suffers China blues; dollar hits 2023 top on yen
Asia suffers China blues; dollar hits 2023 top on yen
Source: Reuters
14/08/2023 8:46:03 AM
India's imports from China across at least 25 major commodity groups rise on year  India's imports from China across at least 25 major commodity groups such as consumer electronics, auto components, and iron and steel products rose in fiscal 2023, the government told parliament on Wednesday. The statement, which listed Chinese imports in a total of 31 commodity groups, comes amid New Delhi's concerted efforts to reduce its trade deficit with China since border tensions flared in 2020. Imports of electronics instruments from China grew 14% year-on-year in...
India's imports from China across at least 25 major commodity groups rise on year
India's imports from China across at least 25 major commodity groups rise on year
Source: Reuters
10/08/2023 9:04:33 AM
Oil prices fall as China woes offset boost from high US fuel demand Oil prices fell in early Asian trade on Thursday after reaching fresh highs in the previous session as concerns about the Chinese economy offset the positive impact of steep drawdowns in U.S. fuel stockpiles and Saudi and Russian output cuts. Brent crude fell 20 cents, or 0.2%, to $87.35 a barrel by 0006 GMT, after settling at its highest since Jan. 27 in the previous session. West Texas Intermediate crude (WTI) fell 23 cents, or 0.3%, to $84.17, after settling at its highest since Nove...
Oil prices fall as China woes offset boost from high US fuel demand
Oil prices fall as China woes offset boost from high US fuel demand
Source: Reuters
10/08/2023 8:51:33 AM
Asian shares slip on China worries; U.S. inflation figures awaited Asian stocks lost ground on Thursday, still hurting from China's slip into deflation, with investors particularly cautious ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.33% and it looked set to log a second...
Asian shares slip on China worries; U.S. inflation figures awaited
Asian shares slip on China worries; U.S. inflation figures awaited
Source: Reuters
10/08/2023 8:43:49 AM
Views on Morgan Stanley`s upgrades India`s rating to overwight on behalf of Shantanu Bhargava, Waterfield Advisors. Below the Views on Morgan Stanley's upgrades India'srating to overwight on behalf of Shantanu Bhargava, Managing Director, Head of Discretionary Investment Services, Waterfield Advisors.   A combination of the long-term structural factors and the near-term strengths seems to have inspired Morgan Stanley’s decision to upgrade its views on India's markets to overweight.    In the latest quarter, India grew by 6.1%, exceeding market expectations ...
Views on Morgan Stanley`s upgrades India`s rating to overwight on behalf of Shantanu Bhargava, Waterfield Advisors.
Views on Morgan Stanley`s upgrades India`s rating to overwight on behalf of Shantanu Bhargava, Waterfield Advisors.
Source: Waterfield Advisors
3/08/2023 5:58:16 PM
Quote on Morgan Stanley Upgrades India`s Rating to Overweight and Downgrades China - Implications for India and China by Dr. V K Vijayakumar, Geojit Financial Services Below the view on Morgan Stanley Upgrades India's Rating to Overweight and Downgrades China - Implications for India and China from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.   There is a high probability that India will be the fastest growing large economy in the world for many years to come. India’s demographic dividend, entrepreneurial talent, macro stability and vibrant democratic system can drive sustained high growt...
Quote on Morgan Stanley Upgrades India`s Rating to Overweight and Downgrades China - Implications for India and China by Dr. V K Vijayakumar, Geojit Financial Services
Quote on Morgan Stanley Upgrades India`s Rating to Overweight and Downgrades China - Implications for India and China by Dr. V K Vijayakumar, Geojit Financial Services
Source: Geojit Financial Services Ltd
3/08/2023 5:54:57 PM
Factbox-Taiwanese giant Foxconn`s growing interest in India Foxconn has rapidly expanded its presence in India by investing in locations in the south of the country for its manufacturing facilities, as the Taiwanese giant seeks to move away from China. Foxconn, the leading contract manufacturer of electronics, already has an iPhone factory in Tamil Nadu, which employs 40,000 people. Here are some of the areas where the company has invested, according to announcements and sources familiar with its plans. APPLE ASSEMBLY Foxconn plans to make...
Factbox-Taiwanese giant Foxconn`s growing interest in India
Factbox-Taiwanese giant Foxconn`s growing interest in India
Source: Reuters
3/08/2023 4:23:57 PM
Breaking News - Morgan Stanley upgrades India's rating to 'overweight', downgrades China Breaking News - Morgan Stanley upgrades India's rating to 'overweight', downgrades China
Breaking News - Morgan Stanley upgrades India's rating to 'overweight', downgrades China
Breaking News - Morgan Stanley upgrades India's rating to 'overweight', downgrades China
Source: Investmentguruindia
3/08/2023 9:08:16 AM
Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA Asian stocks edged toward a sixteen-month peak on Tuesday and oil held near recent highs as investors began to find more cause for cheer over global economic prospects than reasons to worry, even as data showed risks remain. The dollar hit a three-week high against the yen as investors continued to seek clarity on the Bank of Japan's recent adjustment to its yield curve control and what that might mean for monetary policy. The Aussie dollar, meanwhile, eased slightly heading into a ...
Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA
Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA
Source: Reuters
1/08/2023 9:26:02 AM
Asia shares up as China extends rally; Japanese yields a risk Asian shares looked to end the month on a firm note on Monday in a week littered with major economic releases, central bank meetings and earnings updates from mega caps Amazon and Apple, though rising Japanese bond yields posed a risk. China surveys were mixed with factory activity just pipping forecasts but services disappointing, though both merely reinforced expectations that Beijing would have to launch larger stimulus at some point. Chinese blue chips seemed unperturbed and added 1...
Asia shares up as China extends rally; Japanese yields a risk
Asia shares up as China extends rally; Japanese yields a risk
Source: Reuters
31/07/2023 9:00:26 AM
Global foldable smartphone shipments to cross 100 mn by 2027: Report Global foldable smartphone shipments are expected to cross the 100 million mark by 2027, with Samsung and Apple accounting for the biggest market share, a new report said on Wednesday. According to Counterpoint Research, global foldable smartphone shipments are projected to reach 101.5 million in 2027 from 78.6 million in 2026. "At the moment, foldables remain niche. But it is an important segment for brands looking to maintain leadership in innovation and a premium market presence...
Global foldable smartphone shipments to cross 100 mn by 2027: Report
Global foldable smartphone shipments to cross 100 mn by 2027: Report
Source: IANS
27/07/2023 10:21:37 AM
Badminton: Chinese shuttlers sail into second round at Japan Open  China's badminton players on Wednesday scored victories to make the second round in several categories here at the Japan Open badminton tournament. In the men's singles round of 32, China's Weng Hongyang came from behind to beat India's Mithun Manjunath 13-21, 24-22, 21-18, but his teammate Lu Guangzu lost 21-12, 21-14 to Anders Antonsen of Denmark. The women's singles witnessed a 21-12, 21-13 victory for Zhang Yiman over India's Pusarla Sindhu, and in a qu...
Badminton: Chinese shuttlers sail into second round at Japan Open
Badminton: Chinese shuttlers sail into second round at Japan Open
Source: IANS
27/07/2023 9:32:45 AM
Asia shares rally after China pledges economic support steps Asian shares jumped on Tuesday as China's pledge to step up policy support for its stuttering economy soothed sentiment and lifted beaten down Hong Kong and Chinese stocks, while the dollar eased ahead of the Federal Reserve meeting this week. MSCI's broadest index of Asia-Pacific shares outside Japan was 1.2% higher and on course to snap a six-day losing streak. Japan's Nikkei fell 0.22%. The Shanghai Composite Index was 1.55% higher, while Hong Kong's benchmark Hang Se...
Asia shares rally after China pledges economic support steps
Asia shares rally after China pledges economic support steps
Source: Reuters
25/07/2023 8:42:16 AM
BASF India`s Q1 profit falls on sluggish demand, high input costs Chemicals maker BASF India on Monday reported a fall in its first-quarter profit, hurt by weak sales and higher input costs. The Indian arm of Germany's BASF said its profit for the quarter ended June 30 fell nearly 43% to 1.13 billion rupees ($13.8 million), while sale of products fell to 33.43 billion rupees from 38.58 billion rupees a year ago. For further results highlights, click. KEY CONTEXT The company has reported a fall in profit for four quarters in a row, with a con...
BASF India`s Q1 profit falls on sluggish demand, high input costs
BASF India`s Q1 profit falls on sluggish demand, high input costs
Source: Reuters
24/07/2023 2:34:26 PM
India`s engineering exports fell 11% year-on-year to $8.53 billion: EEPC The Engineering Exports Promotion Council of India (EEPC) has said that India's engineering exports declined for the third straight month in June 2023, falling 11 per cent year-on-year to $8.53 billion. It stated that India's engineering exports to major markets like the United States, the European Union (EU) and China continued to decline in June 2023, reflecting a challenging global trade environment.  However, it said the country's shipments to West Asia and North Afric...
India`s engineering exports fell 11% year-on-year to $8.53 billion: EEPC
India`s engineering exports fell 11% year-on-year to $8.53 billion: EEPC
Source: Accord Fintech
24/07/2023 10:15:29 AM
Asia shares brace for trio of rate meetings, China steps Asian shares on Monday braced for an action-packed week of earnings and central bank meetings that will likely see higher interest rates in Europe and the United States, and just possibly the end of the monetary tightening cycle in both. Markets are fully priced for quarter-point hikes from the U.S. Federal Reserve and European Central Bank, so the focus will be on what Fed Chair Jerome Powell and ECB President Christine Lagarde say about the future. "For both, we expect this to ma...
Asia shares brace for trio of rate meetings, China steps
Asia shares brace for trio of rate meetings, China steps
Source: Reuters
24/07/2023 8:43:45 AM
India imposes major rice export ban, triggering inflation fears India on Thursday ordered a halt to its largest rice export category in a move that will roughly halve shipments by the world's largest exporter of the grain, triggering fears of further inflation on global food markets. The government said it was imposing a ban on non-basmati white rice after retail rice prices climbed 3% in a month after late but heavy monsoon rains caused significant damage to crops. India accounts for more than 40% of world rice exports, and low inventories with...
India imposes major rice export ban, triggering inflation fears
India imposes major rice export ban, triggering inflation fears
Source: Reuters
21/07/2023 9:42:45 AM
ABB seeing some customers shift investments away from China ABB is seeing some customers shifting investments from China to India and other parts of Asia due to geopolitical tensions, the industrial and engineering group's Chief Executive Bjorn Rosengren said on Thursday. The maker of factory robots and automation systems reported a 9% drop in new orders from China - ABB's second biggest market - during the three months to the end of June. The downturn was compensated by growth in other parts of Asia, with India increasing new orders by ...
ABB seeing some customers shift investments away from China
ABB seeing some customers shift investments away from China
Source: Reuters
20/07/2023 3:23:49 PM
Oil prices open lower on dollar strength, profit-taking Oil prices slipped in early Asian trade on Thursday, extending the previous session's losses, as the dollar strengthened and on profit-taking after U.S. crude oil stocks fell less than expected. Brent futures dipped 14 cents, or 0.2%, to $79.32 a barrel by 0001 GMT, while U.S. West Texas Intermediate (WTI) crude fell 15 cents to $75.20 a barrel. Strength in the U.S. dollar index weighed on prices. The dollar bounced on Wednesday after sentiment was boosted by inflation in the United...
Oil prices open lower on dollar strength, profit-taking
Oil prices open lower on dollar strength, profit-taking
Source: Reuters
20/07/2023 8:41:50 AM
Evergrande posts losses of $81 billion over two years Evergrande Group, the world’s most indebted property developer, has posted long-delayed financial results as a key part of its debt restructuring, which is shaping up to be one of the largest in Chinese corporate history, a media report said. The company reported losses attributable to shareholders of 476 billion yuan ($66 billion) and 106 billion yuan ($15 billion) for 2021 and 2022, respectively, according to a Monday stock exchange filing, CNN reported. Its combined net losses ...
Evergrande posts losses of $81 billion over two years
Evergrande posts losses of $81 billion over two years
Source: IANS
19/07/2023 9:26:31 AM
Oil prices up on China economic support pledge, tighter supply Global oil prices rose on Wednesday, boosted by China's pledge to support economic growth, tighter supply from Russia and on lower weekly U.S. crude oil inventories. Brent futures rose 9 cents, or 0.1%, to $79.72 a barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude was steady at $75.75 per barrel. China's top economic planner pledged on Tuesday that it would roll out policies to "restore and expand" consumption in the world's second-largest economy ...
Oil prices up on China economic support pledge, tighter supply
Oil prices up on China economic support pledge, tighter supply
Source: Reuters
19/07/2023 8:45:06 AM
Asia stocks split as US-China outlooks diverge Asia's stock markets were mixed on Wednesday with growth concerns dragging on China's equities while shares gained in Japan and Australia after healthy U.S. company earnings and retail data added to hopes that a recession there can be avoided. Dovish remarks from a European Central Bank policymaker boosted bonds and dragged the euro lower. Hotter-than-expected inflation lifted the New Zealand dollar a little and stoked some market nerves ahead of British CPI due later in the day. ...
Asia stocks split as US-China outlooks diverge
Asia stocks split as US-China outlooks diverge
Source: Reuters
19/07/2023 8:42:12 AM
Asia shares slip further as China casts a pall, dollar's slide abates  Asian stocks fell on Tuesday as weak Chinese economic data released the previous day continued to weigh on sentiment, while investors were waiting to see if U.S. retail sales data would shine a light on the path for U.S. interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.63% in the morning session. Investors are waiting for stronger signs of inflation cooling, with the readings on U.S. retail sales and U.S. industrial production to be released...
Asia shares slip further as China casts a pall, dollar's slide abates
Asia shares slip further as China casts a pall, dollar's slide abates
Source: Reuters
18/07/2023 9:11:06 AM
Oil prices inch up as US crude supplies seen tightening  Oil prices edged higher in early trade on Tuesday after sinking in the previous session on weaker-than-expected Chinese economic growth, as investors eyed a possible tightening of U.S. crude supplies. Brent crude gained 11 cents to $78.61 a barrel by 0017 GMT, while U.S. West Texas Intermediate crude rose 15 cents to $74.30 a barrel. Both contracts fell more than 1.5% on Monday. Investors awaited industry data later on Tuesday that was expected to show U.S. crude oil stockpiles...
Oil prices inch up as US crude supplies seen tightening
Oil prices inch up as US crude supplies seen tightening
Source: Reuters
18/07/2023 8:43:55 AM
Oil slides more than 1% as Chinese GDP dents demand hopes Oil dropped by more than 1% on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world's second-biggest oil consumer, while a partial restart of halted Libyan output also pressured prices. China's gross domestic product (GDP) grew 6.3% year-on-year in the second quarter, compared with analyst forecasts of 7.3%, with its post-pandemic recovery faltering rapidly owing to weakening demand at home and abroad. "The GDP came in below exp...
Oil slides more than 1% as Chinese GDP dents demand hopes
Oil slides more than 1% as Chinese GDP dents demand hopes
Source: Reuters
17/07/2023 7:29:42 PM
Asia shares slip as China data underwhelms Asian shares slipped on Monday as a mixed bag of Chinese economic data were not as bad as some feared, but still fanned market impatience with the lack of major fiscal stimulus from Beijing. China reported economic growth of 0.8% in the second quarter, above the 0.5% forecasted, while the annual pace slowed more than expected to 6.3%. Industrial output topped forecasts with a rise of 4.4%, while retail sales missed by a tick at 3.1%. That followed figures out over the weekend showed Chi...
Asia shares slip as China data underwhelms
Asia shares slip as China data underwhelms
Source: Reuters
17/07/2023 8:58:47 AM