News

Surge in yields makes owning US stocks over bonds the most unattractive in decades The allure of owning US stocks over less risky investments is at its lowest level in decades, according to one measure, despite the equity market's race upward this year, the media reported. The benchmark S&P 500 index has gained 16 per cent this year, pushed higher by Wall Street's obsession with artificial intelligence that has propelled mega-cap technology stocks to dizzying heights, CNN reported. At the same time, hot economic data has helped push Treasury yields higher ...
Surge in yields makes owning US stocks over bonds the most unattractive in decades
Surge in yields makes owning US stocks over bonds the most unattractive in decades
Source: IANS
9/09/2023 11:54:10 AM
AU, UN to extend $200 mn to Africa to boost response to climate change The African Union, the United Nations and the African Development Bank (AfDB) have said that they are providing African states with $200 million to strengthen the capacity of the continent to respond to climate change. Harsen Nyambe, director of the Sustainable Environment and Blue Economy Directorate at the African Union Commission (AUC), said in Nairobi, the capital of Kenya, that part of the grant will be channeled to African countries to enable them to observe weather changes so that l...
AU, UN to extend $200 mn to Africa to boost response to climate change
AU, UN to extend $200 mn to Africa to boost response to climate change
Source: IANS
9/09/2023 8:58:29 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
India removes additional duty on 12 US products ahead of Joe Biden`s visit India has done away with additional duties on some American products like chickpeas, lentils, and apples, as US President Joe Biden is set to arrive on a three-day visit to India. These additional duties were imposed in 2019 in response to America’s decision to increase tariffs on certain steel and aluminium products. India had imposed these duties on 28 US products in 2019. The decision to remove these duties on American products was taken through a Finance Ministry notificati...
India removes additional duty on 12 US products ahead of Joe Biden`s visit
India removes additional duty on 12 US products ahead of Joe Biden`s visit
Source: IANS
7/09/2023 5:33:08 PM
Asia stocks slide on U.S. rate worries, dollar ascendant Asian stocks sank on Thursday, extending global equity declines after new signs of sustained inflationary pressures in the United States boosted the case for elevated interest rates for longer. The U.S. dollar hung close to the highest since mid-March against major peers, and touched a fresh 10-month top to the yen. Long-term Treasury yields hovered near two-week highs near 4.3%. Brent crude stayed above $90 amid tightening supply, adding to inflation worries. MSCI's broadest ind...
Asia stocks slide on U.S. rate worries, dollar ascendant
Asia stocks slide on U.S. rate worries, dollar ascendant
Source: Reuters
7/09/2023 9:10:10 AM
Philippine $3 billion airport project has three potential bidders A 170.6 billion pesos ($3 billion) project to modernise the main international airport in the Philippines has attracted three potential bidders, including India's GMR Group, the Philippine transportation secretary said on Wednesday. Ranked among the world's worst international gateways, the aging Ninoy Aquino International Airport (NAIA) badly needs an upgrade to end chronic flight delays, address congestion, and improve facilities. The other two possible bidders were conglomera...
Philippine $3 billion airport project has three potential bidders
Philippine $3 billion airport project has three potential bidders
Source: Reuters
6/09/2023 3:47:20 PM
Family to welcome Rishi Sunak`s first India visit by hosting feast in his honour Ahead of Rishi Sunak's first official trip to India as Britain’s Prime Minister during the G20 summit this week, his relatives are planning a banquet in New Delhi to welcome the Indian-origin leader to his ancestral land. The Telegraph reported that the Sunak's relatives will host a feast with flower bouquets and “non-stop dancing” to Punjabi music in New Delhi on Thursday or Friday. Sunak's maternal uncle, Gautam Dev Sood, said all relatives have been aske...
Family to welcome Rishi Sunak`s first India visit by hosting feast in his honour
Family to welcome Rishi Sunak`s first India visit by hosting feast in his honour
Source: IANS
6/09/2023 11:53:26 AM
Oil jumps above $90 as Saudi Arabia extends production cuts Oil prices jumped dramatically on Tuesday after Saudi Arabia announced that it would extend its production cuts until the end of the year, while Russia said it would extend its export cuts of 3,00,000 barrels per day (bpd) for the same period, Oil Price reported. Russia extended its voluntary decision to curb crude exports by 300,000 bpd until December 2023, acting in concert with Saudi Arabia, with the alleged aim of maintaining stability and balance in the oil markets. ICE Brent price...
Oil jumps above $90 as Saudi Arabia extends production cuts
Oil jumps above $90 as Saudi Arabia extends production cuts
Source: IANS
6/09/2023 11:18:08 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
PM Narendra Modi meets Nvidia chief Jensen Huang Prime Minister Narendra Modi on Monday met CEO of Nvidia Jensen Huang. "Had an excellent meeting with Jensen Huang, the CEO of @nvidia. We talked at length about the rich potential India offers in the world of AI. Jensen Huang was appreciative of the strides India has made in this sector and was equally upbeat about the talented youth of India," PM Modi posted on X, formerly Twitter, after the meeting. Nvidia Corporation is an American multinational technology company, which d...
PM Narendra Modi meets Nvidia chief Jensen Huang
PM Narendra Modi meets Nvidia chief Jensen Huang
Source: IANS
5/09/2023 9:52:47 AM
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
Volkswagen in 'advanced talks` with Mahindra on MEB platform Volkswagen said on Monday that it is in advanced talks with India's Mahindra & Mahindra on the use of key electric components of the German carmaker's open platform for electric vehicles, called MEB. Mahindra wants to use central MEB components such as the e-drive and unit cells for its models, said Volkswagen in a statement. Volkswagen has developed a modular, open vehicle platform for EVs, called MEB, which is used to build to its own cars and those of other group companie...
Volkswagen in 'advanced talks` with Mahindra on MEB platform
Volkswagen in 'advanced talks` with Mahindra on MEB platform
Source: Reuters
4/09/2023 12:57:11 PM
Asia shares extend rally as China mood turns less bleak Asian shares pushed higher on Monday as markets wagered the Federal Reserve was done raising U.S. interest rates, and on hopes the drip feed of policy stimulus from Beijing would be enough to stabilise the Chinese economy. A holiday in the United States made for thin trading ahead of key readings on U.S. services and Chinese trade and inflation later in the week. More policy action is also expected from Beijing, including relaxing restrictions on home buying. There was relief that em...
Asia shares extend rally as China mood turns less bleak
Asia shares extend rally as China mood turns less bleak
Source: Reuters
4/09/2023 8:53:51 AM
UK government in advanced talks over £500m Tata Steel aid package The UK government is in advanced talks with Britain's biggest steel producer to hand over a £500m aid package aimed at securing the long-term future of steelmaking in South Wales, Sky News reported. Whitehall officials and Tata Steel are close to agreeing a deal that would commit more than £1bn to the future of its Port Talbot steelworks, but which could ultimately result in thousands of job losses, Sky News reported. The terms of an agreement were subject to change, but...
UK government in advanced talks over £500m Tata Steel aid package
UK government in advanced talks over £500m Tata Steel aid package
Source: IANS
3/09/2023 5:51:45 PM
Apple-backed Globalstar signs $64 mn launch pact with SpaceX Apple-backed satellite network operator Globalstar has bought launches from Elon Musk-run SpaceX worth $64 million. Apple is reimbursing Globalstar for 95 per cent of the capital expenditures related to the satellites, including the launch costs, reports TechCrunch, citing regulatory filings. The tech giant would use 85 per cent of Globalstar’s network capacity to provide emergency satellite connectivity for iPhones outside of cellular networks. The Globalstar launches are sche...
Apple-backed Globalstar signs $64 mn launch pact with SpaceX
Apple-backed Globalstar signs $64 mn launch pact with SpaceX
Source: IANS
2/09/2023 11:14:58 AM
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit   Elon Musk-run Tesla on Friday reduced prices on the Model S and X electric vehicles, with price drops of up to 19 per cent in the US. People can buy a Model S for a base price of $74,990, $3,500 less than its earlier lowest price, or a Model X for $79,990, $8,500 less, reports Electrek. “That puts the Model X below the SUV cap, making it eligible for the US Federal EV Tax Credit, said the report The “base model” now has the larger battery, with an estimate...
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit
Tesla cuts prices up to 19%, Model X now qualifies for US tax credit
Source: IANS
2/09/2023 10:15:42 AM
Mirae Asset looking to acquire India`s 9th largest brokerage Sharekhan South Korea’s leading asset manager Mirae Asset Financial Group aims to enhance its presence in India by acquiring Sharekhan, the Southeast Asian country’s ninth-largest brokerage firm, Korea Economic Daily reported. Bidders for Sharekhan have recently been shortlisted and Mirae Asset is one of them, people familiar with the matter said on Thursday. The Korean asset manager has begun due diligence on the Indian brokerage firm, they said, as per the report. The select bidd...
Mirae Asset looking to acquire India`s 9th largest brokerage Sharekhan
Mirae Asset looking to acquire India`s 9th largest brokerage Sharekhan
Source: IANS
2/09/2023 9:25:07 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
Guterres going to G20 summit with messages of global financial reform, fighting climate change UN Secretary General Antonio Guterres announced on Thursday that he will be going to the G20 summit in New Delhi carrying the messages of global financial reform and fighting climate change as he takes a swing through four international summits ahead of next month's high-level UN meetings. G20 countries, as the world’s biggest economies, "need to look seriously into reform of global financial institutions, rules and frameworks, to adapt them to today’s realities and mo...
Guterres going to G20 summit with messages of global financial reform, fighting climate change
Guterres going to G20 summit with messages of global financial reform, fighting climate change
Source: IANS
1/09/2023 10:09:21 AM
Asia stocks edge higher as China acts on housing, yuan weakness Asian shares edged higher on Friday as China stepped up efforts to support its housing sector and stabilise the yuan, though investors remained cautious ahead of U.S. jobs data that could make or break the case for further rate hikes. U.S. consumer spending increased by the most in six months in July, but slowing monthly inflation rates cemented expectations that the Federal Reserve would keep interest rates unchanged next month. U.S August payrolls data tonight could offer more clues. ...
Asia stocks edge higher as China acts on housing, yuan weakness
Asia stocks edge higher as China acts on housing, yuan weakness
Source: Reuters
1/09/2023 8:44:25 AM
Global EV sales grow 50%, China market faces slowdown The global electric vehicle (EV) sales grew 50 per cent (year-on-year) in the second quarter (Q2) this year, as China’s domestic market continued to dominate globally but growth failed to keep pace with other major markets, a report showed on Thursday. Chinese EV companies continued to dominate as they enjoyed scale advantages at home, allowing them to account for 56 per cent of global unit sales, albeit the lowest Q2 in three years, according to Counterpoint Research. “BYD ...
Global EV sales grow 50%, China market faces slowdown
Global EV sales grow 50%, China market faces slowdown
Source: IANS
31/08/2023 5:30:44 PM
New Indo-US task force aims $100 bn electronics trade between 2 nations The Indo-US Task Force for Electronics, launched here on Thursday, aims to boost the electronics trade between the two countries to $100 billion within a decade. The India Cellular and Electronics Association (ICEA) organised the launch meeting here, attended by senior officials from Department of Telecommunications (DoT), US Embassy, leading US and Indian companies, investment banking fraternity, and Washington D.C.-headquartered Information Technology Industry Council (ITI). "The...
New Indo-US task force aims $100 bn electronics trade between 2 nations
New Indo-US task force aims $100 bn electronics trade between 2 nations
Source: IANS
31/08/2023 4:33:59 PM
Hitachi Omika Works Adopts Qlik to Help Unify Information and Respond Quickly to Supply Chain Challenges  Qlik today announced that Social Innovation Company Hitachi, Ltd. has adopted Qlik analytics with additional services within its Hitachi Omika Works. This has enabled the division to analyze and draw insights from data, enabling better risk analysis while eliminating ambiguity for faster decision making across its organisation.   Hitachi Omika Works is responsible for information and control systems for public infrastructure and industrial fields. The increasin...
Hitachi Omika Works Adopts Qlik to Help Unify Information and Respond Quickly to Supply Chain Challenges
Hitachi Omika Works Adopts Qlik to Help Unify Information and Respond Quickly to Supply Chain Challenges
Source: PR Agency
31/08/2023 2:24:49 PM
SoftBank likely to fully exit Zomato in coming months Japanese investment giant SoftBank, which sold nearly 10 crore shares in Zomato, amounting to an 1.17 per cent of the company’s equity, is planning to fully exit the online food delivery platform in next few months. According to sources, SoftBank has around 2.18 per cent remaining stake in Zomato which it is likely to sell via block deals. Money Control was first to report about the development. SoftBank bought Zomato stake in June last year for around Rs 71. For the company, Z...
SoftBank likely to fully exit Zomato in coming months
SoftBank likely to fully exit Zomato in coming months
Source: IANS
31/08/2023 12:48:02 PM
MediBuddy raises $18 mn for strategic acquisitions, continued expansion Digital healthcare platform MediBuddy on Wednesday said it has secured additional funding of $18 million from existing investors Quadria Capital, Lightrock and TEAMFund. In February 2022, MediBuddy raised $125 million during the Series C funding.  The additional funding, said the company, will put it in a solid position to navigate the current landscape and achieve its ambitious growth targets over the next three years, driving strategic acquisitions and continued expansion. &ld...
MediBuddy raises $18 mn for strategic acquisitions, continued expansion
MediBuddy raises $18 mn for strategic acquisitions, continued expansion
Source: IANS
31/08/2023 9:56:16 AM
US economy grew more slowly in second quarter than previously estimated   The US economy grew more slowly in the second quarter than previously estimated -- a good sign for the Federal Reserve, which is attempting to cool demand to bring down price increases, a media report said. Gross domestic product, the broadest measure of economic output, rose at an annualised rate of 2.1 per cent in the second quarter, according to the Commerce Department’s second estimate released on Wednesday, CNN reported. That’s a slightly slower pace than the ...
US economy grew more slowly in second quarter than previously estimated
US economy grew more slowly in second quarter than previously estimated
Source: IANS
31/08/2023 9:38:42 AM
Asian shares set for worst month since Feb on China gloom Asian shares were set for the worst month since February, with sentiment hurt by still-gloomy China factory activity, while investors were also cautious ahead of a barrage of U.S. data that could add to bets that interest rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February. Japan's Nikkei gained 0.5%, bringing its monthly loss to 2%. Data on Thursday showed China'...
Asian shares set for worst month since Feb on China gloom
Asian shares set for worst month since Feb on China gloom
Source: Reuters
31/08/2023 8:50:44 AM
Finland`s economy to slip into recession   Finland's economy is projected to enter a moderate recession within the next 12 months, according to a recent forecast. In its forecast,  the OP Financial Group (OP), one of the largest financial companies in Finland, said Scandinavian country's economy is expected to contract by 0.3 per cent in 2023 and remain stagnant in 2024, reports Xinhua news agency. OP Financial Group is made up of 106 OP cooperative banks and the central cooperative which they own, includi...
Finland`s economy to slip into recession
Finland`s economy to slip into recession
Source: IANS
30/08/2023 5:17:59 PM
India exempts Singapore from rice export ban due to `close strategic partnership`   India has agreed to exempt Singapore from its ban on rice exports owing to “very close strategic partnership”, the External Affairs Ministry said. "India and Singapore enjoy a very close strategic partnership, characterised by shared interests, close economic ties and strong people to people connect. In view of this special relationship, India has decided to allow export of rice to meet the food security requirements of Singapore," Ministry spokesperson Arin...
India exempts Singapore from rice export ban due to `close strategic partnership`
India exempts Singapore from rice export ban due to `close strategic partnership`
Source: IANS
30/08/2023 2:51:51 PM
Asian shares hit two-week high on Fed pause bets, China boost Asian equities rose on Wednesday and the dollar wobbled as weak U.S. labour data bolstered bets that the Federal Reserve was likely done with its interest rate hikes, while beaten-down China stocks rose for a third straight day. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.86% to a two-week top and is on a three-day winning streak. The index though is down 6% in August and set for its worst monthly performance since February. Japan's Nikkei was up 0.5%, whil...
Asian shares hit two-week high on Fed pause bets, China boost
Asian shares hit two-week high on Fed pause bets, China boost
Source: Reuters
30/08/2023 8:54:55 AM
South Korean ministry signs MoU with Samsung, SK hynix on chip packaging The South Korean industry ministry said on Tuesday it signed a memorandum of understanding (MOU) with Samsung Electronics, SK hynix and other chip firms to cooperate on technology development for advanced semiconductor packaging. Under the MOU, the government and chipmakers agreed to work together to secure leading technologies in advanced semiconductor packaging and to nurture companies in the final steps of semiconductor manufacturing, according to the Ministry of Trade, Industry and Ene...
South Korean ministry signs MoU with Samsung, SK hynix on chip packaging
South Korean ministry signs MoU with Samsung, SK hynix on chip packaging
Source: IANS
29/08/2023 4:27:02 PM
World needs to move beyond cyber security to cyber immunity: Kaspersky Labs CEO As the world moves into the "cyber age" with the number of internet-connected devices zooming amid expanding use of artificial intelligence (AI), the mounting scale and expertise of cyber crime makes the concept of cyber security outmoded and it is necessary to move to "cyber immunity", said Kaspersky Labs CEO Eugene Kaspersky. "Which age we're living right now? Some people say that we are living in an age of plastic... there was the Stone Age, the Iron Age and...
World needs to move beyond cyber security to cyber immunity: Kaspersky Labs CEO
World needs to move beyond cyber security to cyber immunity: Kaspersky Labs CEO
Source: IANS
29/08/2023 9:32:57 AM
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
Tesla rival Xpeng acquires Chinese giant DiDi`s smart EV assets for $744 mn In a bid to challenge Tesla’s dominance, ride hailing giant Didi Global on Monday sold its smart EV assets to electric vehicle company Xpeng for nearly $744 million. DiDi Global and XPeng jointly announced a strategic cooperation where the two will collaborate to promote the global application of smart electric vehicles and technologies. DiDi will sell certain business assets related to its smart EV development project to XPeng, which aims to launch an A-class Smart EV model in 20...
Tesla rival Xpeng acquires Chinese giant DiDi`s smart EV assets for $744 mn
Tesla rival Xpeng acquires Chinese giant DiDi`s smart EV assets for $744 mn
Source: IANS
28/08/2023 10:37:54 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
More rate hikes still on table, says US Federal Reserve Chair Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome Powell said Friday, the media reported. In a highly anticipated speech Friday at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming Powell said the Fed will pay close attention to economic growth and the state of the labor market when making policy decisions, CNN reported. "Although inflation has moved down from its p...
More rate hikes still on table, says US Federal Reserve Chair
More rate hikes still on table, says US Federal Reserve Chair
Source: IANS
26/08/2023 8:58:53 AM
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla which is considering entering the domestic market, people with direct knowledge said. The policy being considered could allow automakers to import fully-built EVs into India at a reduced tax as low as 15%, compared to the current 100% that applies to cars which cost above $40,000 and 70% for the rest, said two of the sources, ...
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally
Source: Reuters
25/08/2023 3:11:02 PM
Japan`s SoftBank will likely sell shares in India`s Zomato Japan's SoftBank Group will likely sell shares in Indian food delivery firm Zomato as the lock-in for investors post the company's acquisition of Blinkit ends on Aug. 25, CNBC-TV18 reported on Friday, citing sources. Zomato, which acquired the quick grocery-delivery startup Blinkit for 44.47 billion rupees ($538.05 million) last year, had issued a 3.55% stake to investor Softbank as part of the deal. U.S.-based firms Sequoia and Tiger Global, who were investors in Blinkit, had a...
Japan`s SoftBank will likely sell shares in India`s Zomato
Japan`s SoftBank will likely sell shares in India`s Zomato
Source: Reuters
25/08/2023 2:31:51 PM
Big Tech firms invest $235 mn in AI model repository Hugging Face Tech giants like Google, Amazon, Nvidia, Intel, IBM, Salesforce, Qualcomm and others have infused $235 million into Hugging Face, an open-source AI model repository similar to GitHub for programming. The latest Series D fundraising round brings Hugging Face’s valuation to $4.5 billion, reports CNBC. Investors in this round have invested significantly into various generative AI models of their own. The funds will be used “to grow the team currently at 170 and invest in mor...
Big Tech firms invest $235 mn in AI model repository Hugging Face
Big Tech firms invest $235 mn in AI model repository Hugging Face
Source: IANS
25/08/2023 11:08:40 AM
Roark Capital buys Subway in one of biggest acquisitions in fast-food industry Subway has sold itself to private equity firm Roark Capital, ending a six-month long search for a buyer. It brings to an end the sandwich chain’s near six-decade run as a family-owned business, a media report said. Roark’s deal is one of the biggest acquisitions in fast food history, coming in just under Inspire Brands’ $11.3 billion purchase of Dunkin’ in October 2020. Roark owns Inspire, which also operates Subway rival Jimmy John’s, CNN reported. In a st...
Roark Capital buys Subway in one of biggest acquisitions in fast-food industry
Roark Capital buys Subway in one of biggest acquisitions in fast-food industry
Source: IANS
25/08/2023 9:51:25 AM
Stocks sink, dollar climbs as risk of hawkish Jerome Powell looms Asian stocks sold off and the dollar scaled an 11-week peak against major peers on Friday, as investors braced for the risk of a hawkish tilt from Federal Reserve Chair Jerome Powell at Jackson Hole. U.S. yields stabilised below 14-year highs. Crude oil found its footing around one-month lows, but remained on course for a second weekly decline amid a firmer dollar and simmering China-centered worries about global growth. Meanwhile, the People's Bank of China set a much stronger-than...
Stocks sink, dollar climbs as risk of hawkish Jerome Powell looms
Stocks sink, dollar climbs as risk of hawkish Jerome Powell looms
Source: Reuters
25/08/2023 8:54:04 AM
Hon Minister, Mr. Zunaid Ahmed Palak, State Minister for Information & Communication Technology Division, Government of the People`s Republic of Bangladesh, Visits BLS E-services Citizen Service Center Mr. Zunaid Ahmed Palak, the honourable State Minister for Information & Communication Technology of the Government of the People’s Republic of Bangladesh, visited BLS E-Services Citizen Service Center at Geeta Nagar, New Delhi. The visit took place on August 21, 2023, at the BLS Sewa Kendra and Citizen Service Center (CSC) operated by BLS International providing Banking services and various Digital services G2C and B2C to the citizens in Geeta Nagar, New Delhi. Hon’ble Mini...
Hon Minister, Mr. Zunaid Ahmed Palak, State Minister for Information & Communication Technology Division, Government of the People`s Republic of Bangladesh, Visits BLS E-services Citizen Service Center
Hon Minister, Mr. Zunaid Ahmed Palak, State Minister for Information & Communication Technology Division, Government of the People`s Republic of Bangladesh, Visits BLS E-services Citizen Service Center
Source: PR Agency
24/08/2023 12:55:25 PM
Nvidia makes record $6.1 bn in profit as gaming becomes mainstream Graphics chip giant Nvidia made $6.188 billion in profit for its Q2 earnings -- up a massive 843 per cent (year-over-year), as gaming become mainstream. The company reported revenue of $13.51 billion for the quarter ended June 30, up 101 per cent from a year ago and up 88 per cent from the previous quarter. Gaming revenue was up 22 per cent (year-over-year) to reach $2.48 billion. The company reported data centre revenue of $10.32 billion, up 171 per cent from year ago. “A new ...
Nvidia makes record $6.1 bn in profit as gaming becomes mainstream
Nvidia makes record $6.1 bn in profit as gaming becomes mainstream
Source: IANS
24/08/2023 11:21:15 AM
Asia stocks track Wall Street rally as treasury yields retreat Asian shares rallied on Thursday after blockbuster results from tech darling Nvidia boosted Wall Street and a retreat in U.S. bond yields eased pressure on borrowing costs globally. A round of soft surveys on manufacturing had also revived hopes central banks were done tightening, though that might change depending on what clues about interest rates Federal Reserve Chairman Jerome Powell gives at an annual central bank summit in Jackson Hole, Wyoming, on Friday. "Equities rallied a...
Asia stocks track Wall Street rally as treasury yields retreat
Asia stocks track Wall Street rally as treasury yields retreat
Source: Reuters
24/08/2023 8:52:39 AM
Hitachi Vantara tops India`s high-end storage market for 3rd year in a row Hitachi Vantara, a subsidiary of Japanese tech conglomerate Hitachi Ltd on Wednesday announced significant growth and achievements during the financial year 2022 (FY22) and the first quarter (Q1) FY23 for its India market, and topped high-end data storage market for the third consecutive year. The company experienced 63 per cent (year-on-year) revenue growth for its data infrastructure business in India in FY22, with 108 per cent growth in its product revenue, underscoring the strong deman...
Hitachi Vantara tops India`s high-end storage market for 3rd year in a row
Hitachi Vantara tops India`s high-end storage market for 3rd year in a row
Source: IANS
23/08/2023 2:34:56 PM
Goldman Sachs sees India IT growth pick up in medium-term; initiates coverage Goldman Sachs sees revenue growth for India's IT sector companies picking up, driven by pent-up demand for IT services and the impact of adopting generative artificial intelligence (AI) tech. The Wall Street bank forecast a 9%-10% revenue growth from 2025, saying the market could be under-appreciating the sector's upside, even though near-term revenue is likely to remain "muted". "Indian IT services companies have doubled their market share in the last 10 years,&q...
Goldman Sachs sees India IT growth pick up in medium-term; initiates coverage
Goldman Sachs sees India IT growth pick up in medium-term; initiates coverage
Source: Reuters
23/08/2023 12:30:21 PM
Honeywell launches new airfield ground lighting manufacturing facility in India US-based consumer technology company Honeywell on Wednesday announced the launch of its Airfield Ground Lighting (AGL) manufacturing facility in Gurugram. A ‘make in India’ product engineered and manufactured completely in the country, it will play a crucial role in airport operations and is subject to comprehensive safety and compliance regulations by global aviation standards and regulatory bodies.  “The new Honeywell LED lighting solution for runways and taxiwa...
Honeywell launches new airfield ground lighting manufacturing facility in India
Honeywell launches new airfield ground lighting manufacturing facility in India
Source: IANS
23/08/2023 11:12:58 AM
Asian shares sit tight ahead of Nvidia results, yields near highs Asian shares held tight ranges on Wednesday as investors awaited results from tech darling Nvidia to see if the sector's lofty valuations can withstand a jump in bond yields, while still gloomy factory readings from Japan left sentiment fragile. S&P 500 futures climbed 0.3% while Nasdaq futures rose 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan were up 0.1%, hovering not far away from its nine-month trough hit just two sessions ago. Japan's Nikkei rose...
Asian shares sit tight ahead of Nvidia results, yields near highs
Asian shares sit tight ahead of Nvidia results, yields near highs
Source: Reuters
23/08/2023 8:50:15 AM