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Korean Air completes Asiana takeover, integrating it as subsidiary Korean Air, South Korea's biggest airline, has successfully integrated local rival Asiana Airlines as a subsidiary, wrapping up a years-long acquisition process, the company said on Thursday.  Korean Air spent 1.5 trillion won ($1.04 billion) to acquire 131.57 million new shares issued by Asiana to take over the country's second-largest full-service carrier in the 1.8 trillion-won merger deal. The acquired Asiana shares account for 63.88 percent of the total, Korean Air sai...
Korean Air completes Asiana takeover, integrating it as subsidiary
Korean Air completes Asiana takeover, integrating it as subsidiary
Source: IANS
2024-12-13 08:56:50 am
Asiana Airlines set to officially become a Korean Air subsidiary A full-scale integration between Korean Air and Asiana Airlines is expected to proceed in earnest, according to industry observers on Wednesday, following the closing of the protracted merger deal first announced four years ago.  Korean Air has invested some 700 billion won ($489.5 million) in a third-party share issuance by Asiana Airlines. The company was set to spend an additional 800 billion won later Wednesday, bringing its stake in the rival carrier to 131.57 million shares, or ...
Asiana Airlines set to officially become a Korean Air subsidiary
Asiana Airlines set to officially become a Korean Air subsidiary
Source: IANS
2024-12-11 09:38:14 am
Asia`s first water transport service ‘Uber Shikara’ launched on Dal Lake Asia's first water transport service, "Uber Shikara", is now available in J&K’s picturesque Dal Lake.  Uber rolled out Asia’s first water transport service with shikara bookings on its app. Tourists visiting the Dal Lake will now enjoy a hassle-free travel experience with the launch of Uber's first water transport service 'Uber Shikara'. This innovative initiative aims to combine technology with tradition allowing travellers to pre-book ...
Asia`s first water transport service ‘Uber Shikara’ launched on Dal Lake
Asia`s first water transport service ‘Uber Shikara’ launched on Dal Lake
Source: IANS
2024-12-03 09:35:36 am
Asia`s Factories Surge Amid China`s Recovery, Risks Persist by Amit Gupta, Kedia Advisory Asia's manufacturing sector showed signs of revival in November, driven by China's impressive factory activity growth, which hit a five-month high. The Caixin PMI rose to 51.5, reflecting robust domestic and export orders fueled by Beijing's stimulus efforts. While China’s recovery bolstered production in South Korea and Taiwan, Japan's factory activity contracted, highlighting regional disparities. Risks such as potential trade tensions under a second Donald Trump presi...
Asia`s Factories Surge Amid China`s Recovery, Risks Persist by Amit Gupta, Kedia Advisory
Asia`s Factories Surge Amid China`s Recovery, Risks Persist by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-12-02 11:24:44 am
Asia-Pacific’s EV battery market to reach 29.9 mn units by 2029, India`s FAME makes strides The volume of xEV batteries, essential for powering electric vehicles. is projected to reach 29.9 million units in the Asia-Pacific region by 2029, at a compound annual growth rate (CAGR) of 9.3 per cent, a report said on Monday, stressing that India and Japan are making significant strides in promoting EV adoption through various government initiatives.  The volume of the xEV traction batteries market is estimated to be around 19.2 million units in 2024, showing a consistent growth t...
Asia-Pacific’s EV battery market to reach 29.9 mn units by 2029, India`s FAME makes strides
Asia-Pacific’s EV battery market to reach 29.9 mn units by 2029, India`s FAME makes strides
Source: IANS
2024-11-25 03:58:36 pm
Most Asia-Pacific nations to see strong growth in 2025, China to take hit with new US government  Much of the Asia-Pacific region is expected to grow solidly in the first quarter of 2025, although China will take a big hit due to the challenges posed by the new US administration to be headed by Donald Trump, according to an S&P Global report released on Monday.  Higher US tariffs on Chinese exports would make other Asian economies more competitive in the US and they may attract more foreign direct investment, including from US firms, said the report. It stated that a ...
Most Asia-Pacific nations to see strong growth in 2025, China to take hit with new US government
Most Asia-Pacific nations to see strong growth in 2025, China to take hit with new US government
Source: IANS
2024-11-25 02:06:35 pm
Mumbai, Delhi ranked among top 5 prime residential markets in Asia-Pacific Mumbai and Delhi have been ranked among top 5 Asia-Pacific prime-residential markets to record higher annual price growth, according to a report on Friday, as India was cited among the emerging markets in Asia-Pacific, along with Vietnam and Thailand, to experience significant growth.  Mumbai ranked third on the annual prime residential price growth index for the APAC region in the report by Knight Frank, recording an 11.5 per cent YoY increase in luxury property prices in Q3 2024. ...
Mumbai, Delhi ranked among top 5 prime residential markets in Asia-Pacific
Mumbai, Delhi ranked among top 5 prime residential markets in Asia-Pacific
Source: IANS
2024-11-22 02:46:22 pm
Asia Pacific investors bullish on Indian real estate in 2025, office spaces to lead Nearly seven in 10 (68 per cent) of Asia Pacific investors expect regional economic growth to have a positive impact and India is likely to see heightened institutional real estate investments in 2024, with the momentum accelerating further in 2025, according to a report on Friday.  The share of APAC countries in overall institutional investments in Indian real estate stood at 28 per cent in January-September period this year. About 69 per cent of APAC respondents intend to allocat...
Asia Pacific investors bullish on Indian real estate in 2025, office spaces to lead
Asia Pacific investors bullish on Indian real estate in 2025, office spaces to lead
Source: IANS
2024-11-22 11:19:57 am
Rupee nearly flat; cenbank intervention supports as equities stay tepid The Indian rupee was nearly unchanged on Monday as likely intervention by the Reserve Bank of India (RBI) helped offset pressure driven by weakness in local equities, which have borne the brunt of sustained foreign portfolio outflows this quarter. The rupee was at 84.3875 against the U.S. dollar as of 10:00 a.m. IST, barely changed from its close at 84.3950 on Thursday. Indian financial markets were shut on Friday for a local holiday. State-run banks were spotted offering dollars near 8...
Rupee nearly flat; cenbank intervention supports as equities stay tepid
Rupee nearly flat; cenbank intervention supports as equities stay tepid
Source: Reuters
2024-11-18 09:02:13 am
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
Asia shares stumble; long-end US bond yields rise with dollar Asian stocks fell broadly on Thursday, while longer-dated U.S. bond yields rose alongside the dollar as investors assessed the monetary policy and inflation outlook in the world's largest economy. Bitcoin steadied above $90,000 after having surpassed that level in the previous session, turbocharged by Donald Trump's return to the White House and the view that his administration will be a boon for cryptocurrencies. The world's largest cryptocurrency last traded 1.6% higher at...
Asia shares stumble; long-end US bond yields rise with dollar
Asia shares stumble; long-end US bond yields rise with dollar
Source: Reuters
2024-11-14 09:04:25 am
Mild relief for rupee on slight recovery in Asia before US inflation data The Indian rupee is likely to inch up at the open on Wednesday on the back of a mild uptick in its Asian peers before U.S. inflation data that will hold cues on what the Federal Reserve will do at its next meeting. The 1-month non-deliverable forward indicated that the rupee will open at 84.38-84.3850 to the U.S. dollar, compared with 84.3925 in the previous session. The currency dipped to an all-time low of 84.4125 on Tuesday. Donald Trump's victory in the U.S. election has spur...
Mild relief for rupee on slight recovery in Asia before US inflation data
Mild relief for rupee on slight recovery in Asia before US inflation data
Source: Reuters
2024-11-13 08:53:33 am
India shines in QS World University Rankings: Asia 2025 The latest QS World University Rankings: Asia 2025 edition has highlighted India's impressive upward trajectory in higher education across the continent. It showed that India boasts two institutions within the top 50 and seven in the top 100 of the QS Asia Rankings 2025, with the Indian Institute of Technology Delhi (IITD) leading at 44th place.  The edition also stated that the University of Petroleum and Energy Studies (UPES) achieved the most significant improvement among India...
India shines in QS World University Rankings: Asia 2025
India shines in QS World University Rankings: Asia 2025
Source: Accord Fintech
2024-11-11 02:36:45 pm
India`s Asian Paints slumps after Q2 volume growth disappoints Asian Paints' shares slumped on Monday, after the Indian paintmaker reported a second-quarter net profit on Saturday that nearly halved and a volume growth that disappointed some analysts. The stock fell as much as 9.3% on the day and was the top percentage loser on the benchmark Nifty 50, which was down 0.3%. Asian Paints' sales volumes, which declined 0.5%, were weaker than those of other large peers such as Berger Paints' 3.6% rise and Kansai Nerolac's 4% overall volu...
India`s Asian Paints slumps after Q2 volume growth disappoints
India`s Asian Paints slumps after Q2 volume growth disappoints
Source: Reuters
2024-11-11 11:17:24 am
AI spending to grow 1.7 times faster than overall digital tech investments in Asia-Pacific Artificial intelligence (AI) will be a major driver of economic growth in the Asia-Pacific region as AI-related spending is projected to grow 1.7 times faster than overall digital technology investments over the next three years, according to a new report.  This surge is expected to generate a projected $1.6 trillion economic impact by the end of 2027 across Asia-Pacific Japan, according to an IDC report. It mentioned that Asia-Pacific business leaders will demand 80 per cent succe...
AI spending to grow 1.7 times faster than overall digital tech investments in Asia-Pacific
AI spending to grow 1.7 times faster than overall digital tech investments in Asia-Pacific
Source: IANS
2024-11-11 09:58:21 am
Rupee slips to record low as Asia FX declines; cenbank likely steps in The Indian rupee weakened to its lowest level on record on Monday, as worries about Donald Trump's victory in the U.S. election kept Asian currencies under pressure while sustained outflows from Indian stocks weighed on the local currency. Likely intervention by the Reserve Bank of India (RBI), though, helped the currency stave off a sharper decline, traders said. The rupee dipped to a low of 84.3875 in early trading, eclipsing its previous all-time low of 84.38 hit on Friday. The c...
Rupee slips to record low as Asia FX declines; cenbank likely steps in
Rupee slips to record low as Asia FX declines; cenbank likely steps in
Source: Reuters
2024-11-11 08:48:16 am
India ahead of China in QS Asia University rankings for second time in a row India has for the second consecutive year outperformed China in the QS Asia University Rankings 2025, signalling a significant improvement in the country’s higher education.  With 193 Higher Educational Institutions (HEIs) ranked in the list from India, the country showed the highest growth in university representation. The list also includes 21 new entrants. India was followed by China with 135 universities, and Japan with 115 universities, according to the latest annual lis...
India ahead of China in QS Asia University rankings for second time in a row
India ahead of China in QS Asia University rankings for second time in a row
Source: IANS
2024-11-08 12:16:02 pm
India leads Asia-Pacific office market with 70 pc of total demand India continued to lead the Asia-Pacific office market activity in the July-September quarter, driving over 70 per cent of the total demand, according to a report on Friday.  At 17.3 million square feet, India continued to lead the APAC office leasing activity. Within India, more than half of the Grade A space uptake came from Bengaluru and Hyderabad, according to a Colliers India report. With over 14.4 million sq ft of new completions in Q3, overall new supply in India too followe...
India leads Asia-Pacific office market with 70 pc of total demand
India leads Asia-Pacific office market with 70 pc of total demand
Source: IANS
2024-11-08 12:07:02 pm
Yen steady, Asian stocks weak as wild week winds down The yen stabilized near a 12-week high against the dollar on Friday while Asia-Pacific equity markets remained on the back foot a day after their worst session since mid-April. Regional stocks took their cues from Wall Street, where the S&P 500 and tech-heavy Nasdaq slipped further after Wednesday's frenetic selling. MSCI's broadest index of Asia-Pacific shares fell 0.55% on Friday, extending the 1.88% tumble from the previous day. Taiwan's stock benchmark slumped 3.3...
Yen steady, Asian stocks weak as wild week winds down
Yen steady, Asian stocks weak as wild week winds down
Source: Reuters
2024-07-26 08:54:47 am
Oil edges up on strong US GDP data but Asia economic woes limit gains Oil prices were up slightly on Friday on stronger-than-expected U.S. economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer. But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains. Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. U.S. West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel. In the second qua...
Oil edges up on strong US GDP data but Asia economic woes limit gains
Oil edges up on strong US GDP data but Asia economic woes limit gains
Source: Reuters
2024-07-26 08:50:00 am
Asia to emerge as hot spot for equity deals as India activity surges A possible revival in IPOs in Hong Kong after a pickup in Chinese regulatory approvals, and a string of mega deals in India are expected to make Asia a bright spot for equity deals in the second half of this year, bankers and analysts said. Despite the extended downturn in Asia initial public offerings (IPOs), India's share in Asia equity capital market (ECM) deals is at record high now, and the surge in deals is expected to last for the foreseeable future, they added. India's t...
Asia to emerge as hot spot for equity deals as India activity surges
Asia to emerge as hot spot for equity deals as India activity surges
Source: Reuters
2024-06-28 12:57:37 pm
Birla Carbon Announces New Greenfield Expansions in Asia  Birla Carbon, the leader in sustainable carbon solutions, announced the establishment of two new carbon black manufacturing sites in Niadupet, Andhra Pradesh, India, and Rayong, Thailand.      “We are excited to augment our expansion plans in support of key customers in the fast-growing markets of India and Southeast Asia,” stated John Loudermilk, President and Chief Executive Officer, Birla Carbon. “These two new state-of-the-art factories will en...
Birla Carbon Announces New Greenfield Expansions in Asia
Birla Carbon Announces New Greenfield Expansions in Asia
Source: PR Agency
2024-01-24 11:18:31 am
GenAI to help 60% of Asia`s top firms boost worker retention Around 60 per cent of Asia's top companies will upgrade hardware and software technologies by 2025 to increase worker retention with personalised work experiences and enhanced collaboration, according to a new report. Generative AI emerges as a game-changer for organisational advancement, weaving a seamless tapestry across three key fronts: Intelligent Document Processing (IDP), Generative Automation, and Knowledge Sharing. "By 2026, businesses that link GenAI to smart document...
GenAI to help 60% of Asia`s top firms boost worker retention
GenAI to help 60% of Asia`s top firms boost worker retention
Source: IANS
2024-01-14 06:12:44 pm
Economics - Impact of supply shocks on inflation minimal by Elara Capitals Elara Composite Supply Chain Index rising; inflation spike unlikely The Elara Composite Supply Chain Index (ECSI; data available till 21/22 December 2023) is up by 18% YoY in Dec-23 to 145 versus past threemonth average of 122, indicating risks are re-emerging to global supply chains and global trade, especially through Asia/Europe to Europe/Asia. Given the strategic importance of the Red Sea (12% of trade), a prolonged disruption in the route could hit global merchandise supply. However, ...
Economics - Impact of supply shocks on inflation minimal by Elara Capitals
Economics - Impact of supply shocks on inflation minimal by Elara Capitals
Source: Elara Capital
2023-12-27 12:51:05 pm
Rupee wrestles with rise in US yields, dollar before Fed outcome The Indian rupee is expected to struggle on Wednesday in the wake of a rise in U.S. Treasury yields and weakness in Asian currencies. Non-deliverable forwards indicate the rupee will open at around 83.26-83.2650 to the U.S. dollar, compared with 83.25 in the previous session. "We will have one more day in which it (USD/INR) will find a lot of buyers. That buying will not amount to much until the RBI (Reserve Bank of India) allows 83.30 to be taken out," a spot currency trader ...
Rupee wrestles with rise in US yields, dollar before Fed outcome
Rupee wrestles with rise in US yields, dollar before Fed outcome
Source: Reuters
2023-11-01 08:59:38 am
Asian stocks stutter ahead of Fed, frail yen in focus Asian stocks inched lower on Wednesday ahead of a keenly-awaited policy decision from the Federal Reserve later in the day, while the yen was stuck near one-year lows against the dollar, keeping markets on edge for possible intervention by Tokyo. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.13% lower, starting November in a sombre mood after clocking three straight months of losses. Japan's Nikkei was 2% higher. China shares eased 0.15%, while the Hong Kong&#...
Asian stocks stutter ahead of Fed, frail yen in focus
Asian stocks stutter ahead of Fed, frail yen in focus
Source: Reuters
2023-11-01 08:55:52 am
Blackstone enters Indian healthcare services with Care Hospitals buy Blackstone said on Monday it will buy a majority stake in India's Care Hospitals from a fund belonging to asset management firm TPG, marking the U.S.-based private equity firm's entry into the country's healthcare services sector. Blackstone will commit $1 billion in the hospital chain in India and hold over 75% in Care Hospitals, a source with direct knowledge of the matter said. They did not want to be named as the deal details are private. The deal comes as a post-pandemi...
Blackstone enters Indian healthcare services with Care Hospitals buy
Blackstone enters Indian healthcare services with Care Hospitals buy
Source: Reuters
2023-10-30 03:40:25 pm
Space-tech company Skyroot raises Rs 225 cr India's leading private space-tech company, Skyroot Aerospace has raised an additional $27.5 million, equivalent to Rs 225 crore, in a pre-Series C funding round led by Temasek, a global investment company headquartered in Singapore. The present capital infusion builds upon the company's previous raise in 2022, bringing its total funding to USD 95 million, which is the largest ever for an Indian Space-tech startup. Skyroot plans to utilize the newly acquired capital to drive its...
Space-tech company Skyroot raises Rs 225 cr
Space-tech company Skyroot raises Rs 225 cr
Source: IANS
2023-10-30 02:05:57 pm
Asia stocks mull over Middle East, central bank meetings Asian share markets were mixed on Monday as Israel's push into Gaza stirred fears of a wider conflict ahead of central bank meetings in the United States, Britain and Japan, the latter of which might see a policy tightening. The earnings season also continues with Apple, Airbnb, McDonald's, Moderna and Eli Lilly & Co among the many reporting this week. Results so far have been underwhelming, contributing to the S&P 500's retreat into correction territory at 4,117. &q...
Asia stocks mull over Middle East, central bank meetings
Asia stocks mull over Middle East, central bank meetings
Source: Reuters
2023-10-30 08:59:34 am
India`s forex reserves fall to $583.53 billion as of Oct 20 - central bank India's foreign exchange reserves resumed their losing streak to fall to $583.53 billion as of Oct. 20, compared with $585.90 billion a week earlier, data from the Reserve Bank of India (RBI) showed on Friday. Reserves have dropped sharply in recent weeks, down by $14.2 billion in five weeks to Oct. 6, a five-month low. However, they rose by $1.16 billion in the week to Oct. 13. The RBI intervenes in both the spot and forwards markets to prevent runaway moves in the rupee. "...
India`s forex reserves fall to $583.53 billion as of Oct 20 - central bank
India`s forex reserves fall to $583.53 billion as of Oct 20 - central bank
Source: Reuters
2023-10-27 06:26:53 pm
Marketmind: Ominous signal - Wall St slides despite yield slump A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets look to round off a difficult week with a flourish on Friday, but ominous signals from U.S. trading on Thursday - stocks closed in the red again despite a steep decline in bond yields - do not auger well. The conditions for a sharp rebound on Wall Street were in place - third quarter U.S. GDP beat forecasts, and the 'soft landing' narrative was bolstered by some signs of cool...
Marketmind: Ominous signal - Wall St slides despite yield slump
Marketmind: Ominous signal - Wall St slides despite yield slump
Source: Reuters
2023-10-27 12:25:41 pm
Global hedge funds are boosting their presence in the long-shunned Indian market Global hedge funds are making a beeline to set up shop in India, a market long-shunned by international investors, tempted both by its growing depth and liquidity and its emergence as an alternative to investing in China. Singapore-based multi-strategy hedge fund Dymon Asia Capital and Citadel Securities are among funds and securities brokers entering a market they had smaller exposure to in the past, worried about tax issues and their ability to hedge investments through short-selling. ...
Global hedge funds are boosting their presence in the long-shunned Indian market
Global hedge funds are boosting their presence in the long-shunned Indian market
Source: Reuters
2023-10-27 12:15:54 pm
Rupee little changed as importer dollar demand blunts strength in Asian peers The Indian rupee was little changed on Friday, bucking the strength among most Asian peers, as persistent U.S. dollar demand from importers and equity-linked outflows kept up the pressure on the local unit. The rupee was at 83.2425 as of 10:30 a.m. IST, compared with its close of 83.23 in the previous session. It drifted in a narrow range between 83.22 and 83.2475 in early trade during the spot session. "At this point, you simply can't pinpoint a trigger that will move it (the ...
Rupee little changed as importer dollar demand blunts strength in Asian peers
Rupee little changed as importer dollar demand blunts strength in Asian peers
Source: Reuters
2023-10-27 10:56:49 am
Big Tech coalition seeks 12-18 month extension to comply with India's DPDP Act The Asia Internet Coalition (AIC), an industry group representing Big Tech companies like Meta, Google, Apple and Microsoft, on Thursday urged the Ministry of Electronics and Information Technology (MeitY) to extend the deadline by 12-18 months to comply with certain provisions under the Digital Personal Data Protection (DPDP) Act, 2023.In a letter addressed to Union IT Minister Ashwini Vaishnaw and Minister of State for Electronics and IT, Rajeev Chandrasekhar, the group said that since impl...
Big Tech coalition seeks 12-18 month extension to comply with India's DPDP Act
Big Tech coalition seeks 12-18 month extension to comply with India's DPDP Act
Source: IANS
2023-10-26 04:22:23 pm
India`s festival season to bring some cheer to economy, say economists - Reuters Poll Indian consumer spending during this year's festival season will be slightly better than in 2022, said economists polled by Reuters, but probably not enough to ramp up the speed of what is already the world's fastest-growing major economy.The broadly optimistic survey data, taken together with expectations for 6.3% growth this fiscal year and next, suggest even with a dip in inflation, prospects for a Reserve Bank of India interest rate cut are still a long way off.Battered during the pandemi...
India`s festival season to bring some cheer to economy, say economists - Reuters Poll
India`s festival season to bring some cheer to economy, say economists - Reuters Poll
Source: Reuters
2023-10-26 09:21:15 am
India likely to overtake Japan to become world`s third-largest economy by 2030: S&P Global S&P Global Market Intelligence in its latest issue of PMI has said that India, the world?s fifth largest economy in the world, is likely to overtake Japan to become the world?s third-largest economy with a GDP of $7.3 trillion by 2030. It said after two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India?s gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year endin...
India likely to overtake Japan to become world`s third-largest economy by 2030: S&P Global
India likely to overtake Japan to become world`s third-largest economy by 2030: S&P Global
Source: Accord Fintech
2023-10-25 10:41:25 am
Drop in oil prices, US yields to lift rupee to near 83/dollar The Indian rupee is expected to climb on Wednesday following a further decline in oil prices on worries over demand and a pullback in U.S. Treasury yields.Non-deliverable forwards indicate the rupee, resuming trade after Tuesday's holiday, will open at around 83.00-83.02 to the U.S. dollar, compared with 83.1925 in the previous session."You would have to expect that the dip (in USD/INR) would find buyers," a forex trader at a bank said."Today's price action will be interesting, in that we wil...
Drop in oil prices, US yields to lift rupee to near 83/dollar
Drop in oil prices, US yields to lift rupee to near 83/dollar
Source: Reuters
2023-10-25 09:15:45 am
Asian shares hit 11-month lows; focus on US economic data Asian equities slipped to their lowest in more than 11 months on Tuesday, while the dollar wobbled in cautious trading ahead of a slew of economic data that will provide clues to the next steps from the U.S. Federal Reserve.Oil prices recovered some of the previous day's losses in early Asia trade as nervousness prevailed in the market amid worries that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region.MSCI's broadest index of Asia-Pacific shares outside Ja...
Asian shares hit 11-month lows; focus on US economic data
Asian shares hit 11-month lows; focus on US economic data
Source: Reuters
2023-10-24 09:04:40 am
Peak XV`s Surge to empower 13 startups focused on AI, deeptech innovations Leading investment firm Peak XV?s rapid scale-up programme Surge on Monday launched its ninth cohort of early-stage startups innovating in the field of deeptech, artificial intelligence (AI) and other promising areas.The cohort features 32 founders across 13 startups and ?Surge 09? includes two Australian startups, in addition to seven from India and four from South-East Asia.It is the first cohort since Peak XV?s rebrand from Sequoia India & Southeast Asia, and forays into greater Asia-Pacif...
Peak XV`s Surge to empower 13 startups focused on AI, deeptech innovations
Peak XV`s Surge to empower 13 startups focused on AI, deeptech innovations
Source: IANS
2023-10-23 11:18:35 am
IMF sees India meeting its FY24 deficit goal despite extra spending India has room to absorb additional expenditure towards subsidies and rural unemployment programme without raising its fiscal deficit target from 5.9% set for the current financial year, the International Monetary Fund said on Thursday.Prime Minister Narendra Modi's party, which faces elections in key states this year and national polls in 2024, has been under pressure to create jobs and help farmers, which may lead to higher than planned expenditure for the year."The central government is li...
IMF sees India meeting its FY24 deficit goal despite extra spending
IMF sees India meeting its FY24 deficit goal despite extra spending
Source: Reuters
2023-10-20 12:32:50 pm
Dollar broadly up, threatens 150 yen as benchmark Treasury yield climbs The dollar was within a hair's breadth of the closely watched 150 yen level on Friday, buoyed by a surge in the U.S. 10-year Treasury yield which in the previous session briefly reached 5% for the first time since 2007.The benchmark 10-year yield, which was last at 4.9813%, has climbed some 35 basis points this week, driven by rising expectations that the Federal Reserve is likely to keep interest rates higher for longer and mounting U.S. fiscal concerns. [US/]"The move up has been driven by ...
Dollar broadly up, threatens 150 yen as benchmark Treasury yield climbs
Dollar broadly up, threatens 150 yen as benchmark Treasury yield climbs
Source: Reuters
2023-10-20 08:51:31 am
Asian shares hit 11-month low on Middle East anxiety, surging yields Asian shares plumbed a fresh 11-month trough on Friday as fears of a regional conflict in the Middle East intensified and as a relentless rise in long-term U.S. yields pressured valuations, while supply concerns lifted oil prices further.The surge in the 10-year U.S. benchmark yield overnight to 5% has raised borrowing costs around the world. On Friday, the Bank of Japan intervened in the Japanese government bond (JGB) market as the 10-year JGB yield touched a decade high.A much-watched speec...
Asian shares hit 11-month low on Middle East anxiety, surging yields
Asian shares hit 11-month low on Middle East anxiety, surging yields
Source: Reuters
2023-10-20 08:47:01 am
India rupee to struggle on US yield concerns; odds of record low seen rising The Indian rupee is expected to be under pressure on Thursday after long-maturity U.S. Treasury yields climbed to multi-year highs on expectations that rates will remain high for long.Non-deliverable forwards indicate the rupee will open at around 83.26-83.27 to the U.S. dollar compared with 83.2575 in the previous session and within a whisker of the 83.29 record low.The Reserve Bank of India has over the last several days intervened to prevent the rupee from falling to a lifetime low."Lookin...
India rupee to struggle on US yield concerns; odds of record low seen rising
India rupee to struggle on US yield concerns; odds of record low seen rising
Source: Reuters
2023-10-19 09:00:17 am
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia Indian financial services firm Avendus will start offering investment banking services from Singapore to cash in on an expected technology sector dealmaking boom in the Southeast Asia region.Majority owned by U.S. private equity giant KKR, Avendus is best known in India for advising large startups such as SoftBank-backed food delivery firm Swiggy and eyewear retailer Lenskart on their fund raising.Karan Sharma, a managing director for Avendus in India said the operations from Singapore will f...
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia
Source: Reuters
2023-10-18 11:07:14 am
Rupee may not respond to higher oil prices on RBI intervention bets The Indian rupee is likely to open little changed on Wednesday on expectations of the Reserve Bank of India keeping a check on the currency's slip amid a rise in oil prices and U.S. Treasury yields.Non-deliverable forwards indicate the rupee will open around Tuesday's level of 83.2575. Oil prices jumped in Asia with the Brent crude contract racing past $92 per barrel following a flare up in the Middle East conflict. Brent is now up nearly 9% since the breakout of the conflict.The 2-year U.S. ...
Rupee may not respond to higher oil prices on RBI intervention bets
Rupee may not respond to higher oil prices on RBI intervention bets
Source: Reuters
2023-10-18 08:57:12 am
Asian shares pare losses on China data, Mid East risk lifts oil Asian shares steadied on Wednesday after Chinese economic data suggested Beijing's stimulus measures might finally be gaining traction, though a blast at a Gaza hospital dealt a blow to hopes for containing the conflict there.Global bond markets also still nursed heavy losses as strong U.S. retail data argued for a punishingly long stretch of high rates.The outlook for the world economy did take a small turn for the better as China reported annual economic growth of 4.9% in the third quarter,...
Asian shares pare losses on China data, Mid East risk lifts oil
Asian shares pare losses on China data, Mid East risk lifts oil
Source: Reuters
2023-10-18 08:53:00 am
Rupee to rely on RBI`s intervention amid surging oil prices The Indian rupee will be pressured by the jump in oil prices over the Middle East conflict and may again have to count on the central bank's assistance, traders said.Non-deliverable forwards (NDFs) indicate rupee will open at around 83.25-83.26 to the U.S. dollar, barely changed from the previous session.Brent crude was at $90.88 in Asia after soaring nearly 6% on Friday - its biggest advance since April - on Israeli military beginning the first ground raids into the Gaza Strip. U.S. equities...
Rupee to rely on RBI`s intervention amid surging oil prices
Rupee to rely on RBI`s intervention amid surging oil prices
Source: Reuters
2023-10-16 09:05:17 am
India`s triumph at Asia Pickleball Games-2023 The Asia Pickleball Games-2023 (APG) unfolded from October 6-9. Organised by the Asia Federation of Pickleball (AFP) in collaboration with the Chinese Taipei Pickleball Association, it promised fierce competition and camaraderie.Representing India were 37 exceptional athletes, a group chosen after enduring grueling trials in Mumbai. Leading this spirited squad was Arvind Prabhoo. He not only held the prestigious position of President of the International Pickleball Federation but also lead th...
India`s triumph at Asia Pickleball Games-2023
India`s triumph at Asia Pickleball Games-2023
Source: IANS
2023-10-14 01:47:26 pm