Bloomberg India is set to become a $30 trillion economy by 2050 — a nearly 10-fold jump from its current size — driven by rising consumption and social and economic reforms, according to Asia’s richest man Gautam Adani. The nation’s gross domestic product may start expanding by $1 trillion every 12 to 18 months within the next decade, increasing …
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Beijing / WAM China’s natural gas output logged robust growth last month, data from the National Bureau of Statistics showed. According to Xinhua news agency, the country produced 18.5 billion cubic metres of natural gas in October, up 12.3% from a year ago and the growth pace was 7.7 percentage points faster than that in September. In the first …
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Dubai / Gulf Time The Mena region witnessed 524 deals worth AED202.76 billion ($55.2 billion) during the first nine months of the year, according to the latest EY Mena M&A Insights report. Rising inflationary pressures, dampening economic demand and global market disruptions resulted in moderate growth in deal activity of 6% year-on-year (YoY) while deal value slipped by 23% …
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Rome / WAM Food import costs globally are projected to reach nearly $2 trillion this year, or higher than previously expected, the UN Food and Agriculture Organisation (FAO) said in a report. The new forecast of $1.94 trillion would represent an all-time high and a 10 percent increase over the record level of 2021. However, the pace of increase is …
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BALI / WAM The G20 health ministers have agreed to establish a pandemic fund. The fund will be commonly used to fix the health system and close the budget gap for the following five years, based on how the Covid-19 pandemic has been handled in the previous two years. At the G20updates press conference, Secretary General of the Indonesian …
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US equity-index futures rose and a bond selloff stalled as some investors bet a period of disinflation has already begun and the midterm election results will be favourable to markets. Contracts on the S&P 500 and Nasdaq 100 indexes added at least 0.4% each after dropping earlier. Most Treasuries erased losses, leaving only the two-year yield higher on the day. …
Read More »Tesla Inc is sending engineers and production staff from its recently upgraded Shanghai factory to its plant in Fremont, California, in a bid to boost production at the US facility. The Elon Musk-led carmaker will dispatch staff — in particular automation and control engineers — to assist efforts to increase output in Fremont, where Tesla produces the Model S, X, …
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Apple Inc.’s Taiwanese contract manufacturer Pegatron Corp. has begun assembling the company’s latest iPhone 14 model in India. That move makes Pegatron the second Apple supplier to produce the iPhone 14 in the country. It comes at a time when Apple’s key iPhone Pro manufacturing hub in the Chinese city of Zhengzhou — operated by Foxconn Technology Group — was …
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Some of Japan’s biggest trading houses reported bumper profits and flagged more to come as they benefited from higher energy and commodities prices. Sumitomo Corp. raised its full-year net income forecast by almost half to a record of 550 billion yen ($3.7 billion). Marubeni Corp. upgraded its profit guidance to an all-time high, while Itochu Corp.’s second-quarter profit beat analyst …
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Global equities trimmed a weekly loss as Chinese shares surged amid signs that authorities are trying harder to ease the impact of its Covid-Zero policy. Treasuries were little changed before US payrolls data. US futures advanced, with the Nasdaq 100 poised to trim its biggest weekly drop since the start of the year, and US-listed Chinese stocks surging in premarket …
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