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Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. «The launch of the all-electric eCanter in India, within the next 6 to 12 months, is the first step in our long-term strategy to decarbonise our entire product portfolio,» Daimler India Commercial Vehicles (DICV) MD and CEO Satyakam Arya said in a statement. However, the reality is that diesel ICE and carbon dioxide neutral propulsion technologies will continue to co-exist in the Indian market for the foreseeable future, he added.

ASML, the largest supplier of equipment to computer chip makers, reported weaker than expected first-quarter new bookings on Wednesday, although sales to China held up despite U.S.-led restrictions. Shares in Europe's biggest tech firm, which had risen 34% this year, were down 4.5% to 873.40 euros at 0741 GMT

Asian shares were mixed on Wednesday as the world's most powerful central banker had a change of heart on U.S. rate cuts this year, pushing Treasury yields to new five-month highs and the dollar towering against other currencies. The beleaguered yen is plumbing fresh 34-year lows on an almost daily basis. It was last steady at 154.62 per dollar as the risk of government intervention loomed, although so far there has been no action from Tokyo apart from verbal warnings.

New Delhi: India has begun work on a home-built bullet train that will exceed 250 kilometres per hour (kmph), a top government official told ET. The official said it will be faster than any of the trains now running on the Indian Railways. «It is being built on the Vande Bharat platform that can already clock a maximum speed of 220 kmph,» the official said. The designs are being prepared at the Indian Railways' Integral Coach Factory (ICF) in Chennai.

As Citi extracts 20,000 jobs, people there are leaving. Some of those people are in revenue-generating sales and trading roles, even though the bank says it's mostly about extracting deadweight from its bureaucracy. 

Mint explains: These are platforms where foreign exchange transactions can take place. They are used by corporates and traders to hedge their foreign currency risks. These transactions can be on over-the-counter (OTC) spot or derivatives platforms authorized by the RBI.

The International Monetary Fund has upgraded its outlook for the global economy, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth

Shares have skidded in Europe and Asia following a slump on Wall Street after a report showed American shoppers spent more at retailers last month than expected

Benchmark U.S. crude oil for May delivery fell 25 cents to $85.41 per barrel Monday

Asian shares have skidded following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks

German Chancellor Olaf Scholz has called for fair competition in trade relations with China while warning about dumping and overproduction while speaking to students in Shanghai on Monday

The operator of the wrecked Fukushima Daiichi nuclear power plant says it has obtained permission from safety regulators to start loading atomic fuel into a reactor at its only operable plant in Japan, which it is keen to restart for the first time sin...

Nissan says it expects to mass produce electric vehicles powered by advanced next-generation batteries by early 2029

Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday. It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% of its automobile sales in the country by 2035. Japan's second-biggest car maker has lagged behind European and U.S. competitors such as General Motors and Volkswagen in ramping up EV sales.

Israel-Iran Tensions Impact: Emerging-market currencies fell to a new low for the year as the dollar extended gains into a fifth day amid heightened geopolitical tensions and after robust US data boosted bets the Federal Reserve will delay interest-rate cuts. Also Read | Israel vows to respond to Iran's drone attack, US military military assets in Middle East | Top 10 updates The MSCI EM Currency Index dropped 0.2% on Tuesday to the lowest since December.

Federal Reserve is unlikely to be in a rush to cut interest rates this year. Rising geopolitical tensions kept risk sentiment in check, lifting prices of gold and oil, while investor focus in Asia turns to China with GDP data due at 0200 GMT.

India has showcased itself as a global leader, the top intelligence official from the US Department of Defense has told the Congress that in 2023, India took steps to modernise its military to compete with China and reduce its dependency on Russian origin-equipment. «During the past year, India has showcased itself as a global leader by hosting the Group of 20 economic summit and demonstrated a greater willingness to counter PRC (People's Republic of China) activity throughout the Indo-Pacific region,» Lt Gen Jeffrey Kruse, Director of the Defense Intelligence Agency told members of the House Armed Services Committee — the subcommittee on intelligence and special operations during a Congressional hearing on defence intelligence countering China. India, he said, has advanced partnerships in the Indo-Pacific with regional South China Sea claimants, such as the Philippines, through training and defence sales and deepened cooperation with the US, Australia, France and Japan.

Market focus was also on the Chinese yuan, with a slew of top-tier economic data due out of China later in the Asian morning expected to show the world's second-largest economy slowed in the first quarter.

ALSO READ: Wall Street week ahead: Investors to focus on US economic data, key earnings Iran had launched the attack after a suspected Israeli strike on its embassy compound in Syria on April 1 that killed top Revolutionary Guards commanders. Investors’ sentiments were also boosted by positive economic data. A report showed that US retail sales rose 0.7 per cent in March.