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rise in new orders and output pushed manufacturing activity to the second-strongest pace in three years. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose to 58.6 in August compared with 57.2 in July, according to data released Friday. «Robust and accelerated increases in new orders and production suggest that the sector looks set to provide a strong contribution to second quarter (fiscal) economic growth,” said Pollyanna De Lima, Economics Associate Director, S&P Global Market Intelligence. »The PMI results for India painted a vibrant picture of the nation's manufacturing landscape in August," De Lima further added. India’s economic growth strengthened to a four-quarter high of 7.8% in the first quarter, data released earlier this week showed, as the services sector pushed activity. The growth in manufacturing was less pronounced at 4.7% in Q1FY24, compared with 6.1% in the similar quarter last year. Demand strength pushed the new orders to the fastest pace since January 2021, helped by better export performance. «Not only did new export orders increase for the seventeenth month running halfway through the second fiscal quarter, but also to the greatest extent since November 2022,» the release stated, noting that members reported new work from Bangladesh, China, Malaysia, Singapore, Taiwan and the US. Buying levels rose to the fastest level in nearly 12 years, even as input costs rose faster. The increase in charge inflation, or selling prices, was not as fast as input prices as they tried to retain competitiveness.

Slowly and steadily, an overheated American job market is returning to room temperature

Canadian uranium developer NexGen Energy has secured $US155 million ($240 million) in financing from investment house Washington H. Soul Pattinson and recourse sector investor Queens Road Capital.

HT's Ravi Krishnan. Explaining the thought behind buying a plot on the moon, he said that the moon is either a token of hope in a future. It can also serve as a cost-effective psychological escape hatch for the person confronting climate change.

Neil Pharaoh is a loyal Qantas Platinum frequent flyer who has flown with the airline since he was born. But he’s considering switching to Virgin after half his flights were cancelled or delayed in the past year.

Hiring dipped 3% month-over-month, according to talent platform foundit's Insights Tracker, presenting the latest findings on hiring trends for August 2023. In addition, e-recruitment activities in India fell by 5% in August 2023 compared to August 2022. The index further dropped from 275 in August 2022 to 260 in August 2023.

Elon Musk on Friday said that X Corp (formerly Twitter) will not use users' data to train its machine learning (ML) and artificial intelligence (AI) models. The tech billionaire reacted after X updated its privacy policy, seeking permission from users to start collecting their biometric data and employment history.

Indian American has been arrested in New Jersey on charge of being part of a technical support scam that targeted more than 7,000 victims defrauding them of more than USD 13 million, a US Attorney announced Thursday. Charged with one count of conspiracy to commit wire fraud, Manoj Yadav appeared before US Magistrate Judge Jose R.

Santos has finally firmed up the sale of a minority interest in its Papua New Guinea LNG venture to PNG’s national oil company, but the deal only involves just over half of the 5 per cent agreed in the original $US1.4 billion ($2.2 billion) deal announced 12 months ago.

One is the guy who ran due diligence on Andrew Forrest and Fortescue Metals that pulled off one of Australia’s best deals, while the other is recently departed Federal Reserve vice chair and member of an influential family that helped developed a large chunk of the modern-day United States.

Panama Canal, according to one company active in the market. The high payment — in addition to a standard transit fee of around $400,000 — was made recently by one unnamed party in order to get a slot allowing its carrier to transit the waterway more quickly, shipping company Avance Gas Holding Ltd. said in its earnings report this week. The Panama Canal Authority, which holds auctions for those wishing to queue jump, said in an email Thursday that the fees haven’t reached a new high this year, without providing further details. The authority said the highest bids are typically won by carriers transporting liquefied petroleum gas or liquefied natural gas. A queue of ships waiting to use the canal has been growing in recent months as drought means there’s less water to fill the waterway’s locks.

Manufacturing activity in Asia’s major export powerhouses slumped further in August as weak demand persisted in the region’s key trade markets, particularly in China. Factories in North Asia experienced weaker new orders, output and export sales, according to manufacturing purchasing managers’ surveys published Friday by S&P Global and au Jibun Bank. The purchasing managers’ index for trade bellwether Taiwan was little changed at a subdued level of 44.3 last month from 44.1 in July, while South Korea’s gauge slumped to 48.9 from 49.4 during the same period. Seoul reported a similarly gloomy reading on industrial production on Thursday, showing a bigger-than-expected drop in July, marking its longest stretch of output decline yet. Japan’s PMI was unchanged at 49.6, below the 50 mark that separates expansion from contraction.Southeast Asia, which until recently was a bright spot, showed the weak sentiment was rubbing off on factories in the region.

Nadia Elbilassy, Market Analyst, Equiti Group, says as India grows with this positive traction over investment and especially since the beginning of China's having the problems with the property sector, we have seen a lot of traction go into India and that is promoting confidence within investors, that it is promoting a lot of new opportunities and business openings in India itself.The Indian growth story is in a sense contrary to the global growth story right now. China is the weakest link, but global economists are worried about these tightening financial conditions amidst rising debt in world economies. How do you see India's GDP growth against the kind of growth numbers that you are reading across other economies like that of the US?Definitely there has been a slowdown in most global economies, not just India.

On the Comex, Gold futures were trading at $1,972.70 per troy ounce on Friday, down by $0.30 or 0.02% while Silver futures were trading at $24.985, lower by $0.119 or 0.470%. The DXY was trading flat at 103.63 against a basket of six top currencies, though the bias was positive. The October Gold futures had ended with declines of Rs 105 or 0.18% per 10 gram at Rs 59,373 while the December Silver futures closed higher at Rs 75,685, down by Rs 595 per kg or 0.78%. «Gold is likely to go up for a second week in a row because US inflation matched expectations, which makes the Federal Reserve less likely to raise interest rates. This led to a drop in Treasury yields, which is good for gold.

Samir Arora, Founder & Fund Manager, Helios Capital, says “one story that has failed is that there is no limit to the valuation of a good company. I have mostly shorted all of them. Even now I am short half of them in another fund. All these 70-80 PE are growing at 10-12% for the last 10 years but they are very good quality companies. “What is looking good from a one-year perspective and what is looking good from a three-year perspective?No, one year, three years do not literally mean one year or 3 years but broadly medium, short, whatever you want to call it.

Federal Reserve's rate decision later this month. At 9:19 a.m., the BSE Sensex was trading 100 points or 0.15% higher at 64,931, while Nifty50 was trading at 19,298, up 45 points or 0.23%. Among Sensex stocks, Tata Steel, JSW Steel, M&M, Power Grid, and Tata Motors opened higher, while NTPC, Infosys, Sun Pharma, and Wipro opened lower.MORE TO COME...

US Federal Reserve will not hike interest rates further. The US dollar index - which measures the currency against a basket of six developed-market peers, including the euro, sterling and yen - edged 0.05% lower to 103.58 on Friday, bringing declines this week to 0.53%. On Thursday, the rupee ended 6 paise lower at 82.79 a dollar.

Robert Bates, the founder of the Aquamamma and Aurum+ wellness empire, allegedly told his wealthy investors that “no one has ever lost money investing with me” and he would buy back their shares if companies that were part of the now-collapsed group failed to reach revenue targets.

Gold rose on Friday and was poised for a second straight weekly gain, helped by diminished chances of U.S. interest rate hikes this year after a data-filled week that concludes with the pivotal jobs report later in the day. FUNDAMENTALS * Spot gold gained 0.2% to $1,942.56 per ounce by 0130 GMT, looking set for a more than 1% weekly gain after prices touched one-month highs on Wednesday.

dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months. The U.S.

Walking Dead' and the next season of 'Interview With the Vampire' can resume production despite the ongoing Hollywood strikes after reaching an agreement with the actors' union. The three AMC series are the highest-profile television productions yet to get what's known as an interim agreement from the Screen Actors Guild-American Federation of Television and Radio Artists. The approval was granted Wednesday because the cable channel AMC and production company Stalwart Films are not part of the Alliance of Motion Picture and Television Producers — the coalition of studios the actors are striking against — though they are what's known as «authorized companies» that abide by the contracts reached by the AMPTP. 'The Walking Dead: Daryl Dixon' and 'Interview With the Vampire' will now resume shooting their second seasons. And the deal will allow actors to do post-production work on the first season of 'The Walking Dead: Those Who Live.' No new writing will be allowed on the series because the Writers Guild of America, in perhaps the most significant divergence in strategy with the actors union, has opted not to grant any such agreements. SAG-AFTRA's tactic of granting interim agreements — which have been given to hundreds of films and shows produced outside the major studios so long as they grant actors the terms the union asked for in their last offer before the strike began July 12 — has drawn objections from many union members who feel they're undermining their objectives. Union leaders, while conceding that they did an insufficient job of explaining the strategy at first, have consistently defended it and touted its effectiveness in recent weeks.