Country Financial News
08.11 / 07:03
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Oil prices slide amid signs of massive US inventory build
Investing.com-- Oil prices hovered around more than three-month lows in Asian trade on Wednesday as signs of a surprise spike in U.S. inventories raised doubts over just how tight supplies would remain.
08.11 / 07:03
Provident
economy
Nikkei
President
country
reports
Asian stocks
Asian stocks muted as rate hike fears reemerge, China uncertainty weighs
Investing.com-- Most Asian stocks moved in a flat-to-low range on Wednesday as recent comments from Federal Reserve officials suggested that the central bank may not be done raising interest rates.
08.11 / 07:03
economy
Yellow
President
country
reports
Gold Prices
Gold prices under pressure with Powell speech in focus
Investing.com-- Gold prices moved little in Asian trade on Wednesday, but were nursing steep losses over the past two sessions as hawkish comments from Federal Reserve officials saw traders reconsider expectations for more interest rate hikes.
08.11 / 03:33
Target
CEO
economy
BlackRock
President
country
reports
Global asset managers bullish on China after policy shift
HONG KONG (Reuters) — China's economic policy shift and the investment opportunities it is creating are drivers for long-term bets in the country by global asset managers, top executives said on Wednesday.
08.11 / 02:47
Waters
economy
show
country
cover
social
reports
pension
The Old Pension Scheme wildfire must be stopped before it’s too late
Alliance (NDA) government led by PM Atal Bihari Vajpayee. Did the NDA lose the national elections later that year due to the introduction of NPS? There are dishonest pundits who will claim that the NDA paid the price of reforming the pension system. My contention is that electoral outcomes are more swayed by emotional issues, so post facto attribution to single causes is always misleading, if not outright wrong.
08.11 / 02:47
FIVE
Progressive
economy
country
social
innovations
Why the government shouldn’t interfere with healthy markets
deja vu with the launch of Bharat Atta in 2023. It’s as if the world’s fastest-growing large economy is suddenly regressing to a past socialistic pattern – one in which the state produced and sold Hindustan Salt, Hindustan Machine Tools (HMT) and Modern Bread. The government must draw a line beyond which it will not intervene in the economy, especially in the food sector, the distorting impact of which is well recognised.
08.11 / 02:47
Citi
Provident
Target
Progressive
economy
country
Aramco keeps $29 billion payout even as oil production falls
Aramco maintained its dividend to the Saudi government despite a drop in production and weaker oil prices as the kingdom tackles a widening budget deficit. The total payout of $29.4 billion to the state and other investors, including a special component, held at the previous quarter’s level even as lower output helped push net income 23% down year-on-year to $32.6 billion in the third quarter. The world’s biggest crude oil exporter provides much of the Saudi government’s income via generous dividends.
08.11 / 02:47
Reuters
stage
country
testing
US Presidential
2024
US presidential polls 2024: Vivek Ramaswamy to launch pledge to stop dragging US into overseas conflicts
Vivek Ramaswamy said his pledge would formally be introduced in Miami, on the eve of the third Republican primary date, laying out non-interventionist foreign policy principles. Vivek Ramaswamy said if he won the nomination from his party and then the 2024 general election against Joe Biden, he aims to mandate all political appointees to endorse the pledge, with plans to extend the invitation to other elected officials in the future.
08.11 / 01:17
FIVE
CEO
show
country
rock
WeWork, a firm once valued at close to US$50B, seeks bankruptcy protection
WeWork has filed for Chapter 11 bankruptcy protection, marking a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world.
07.11 / 21:18
07.11 / 20:41
Citi
Booking
Strategy
economy
country
reports
Uber heads for first annual profit, undeterred by pay laws
Uber chief executive Dara Khosrowshahi has declared pay laws will not hold the gig economy giant back. It can even cope with European markets where drivers are employees, Mr Khosrowshahi told investors on an earnings call overnight.
07.11 / 20:27
Provident
Platform
Action
Experts
Celebrity
show
country
Hands off hot topics, e-commerce firms tell endorsers
₹7,215.83 crore on advertising, promotions and marketing in FY22, an Inc42 analysis said, adding such expenditure is seeing a double-digit growth. Still, it may be difficult for the companies to invoke such clause.
07.11 / 20:15
Platform
coinbase
President
Experts
country
consequences
2020
Coinbase Bolsters Global Advisory Council, Adds 4 National Security Advisors
Coinbase will add four national security experts to its Global Advisory Council, it announced on Tuesday.
07.11 / 19:55
07.11 / 18:51
07.11 / 18:51
economy
country
IMF board approves plan to boost lending resources without shareholding changes
WASHINGTON (Reuters) — The International Monetary Fund said on Tuesday its executive board approved a proposal for a 50% increase in quota resources to be contributed by member countries in proportion to their current IMF shareholdings.
07.11 / 17:55
Volkswagen
Tesla
pandemic
performer
country
reports
Japanese Automakers Face Stay-or-Go Decision in China
TOKYO—Struggling to compete with homegrown electric-vehicle makers in China, Japanese automakers are looking at whether to cut their losses and focus resources on warding off Chinese rivals in other stronghold markets. During the first half of their fiscal year—the period from April to September—Honda, Nissan, Mazda, Mitsubishi Motors and Subaru reported year-over-year declines in auto sales in China. Toyota’s China sales volumes were little changed from a year earlier but the automaker flagged the market as one of particular concern.
07.11 / 17:55
Provident
Booking
Mobile
Metro
country
Latin
reports
RITES goes green with new vertical
NEW DELHI : State-run railway engineering and consulting company RITES Ltd has launched a new vertical to provide consultancy support to companies looking to enter electric, hydrogen or renewable fuel-based mobility operations. The state-run company is also exploring consulting and certification services in South-east Asia, Africa and Latin America as also rolling stock export options in neighbouring countries to boost its export revenue which had fallen to mere ₹1 crore by the end of the September quarter.
07.11 / 17:55
Manufacturing
Strategy
Hyundai
performer
country
2020
How Maruti raced to No.1 in the ‘SUV’ lane
New Delhi: A year ago, Maruti Suzuki India Ltd’s share of the Sports Utility Vehicle (SUV) pie was just 9.5%, way thinner than then leader Tata Motor’s 22.6% slice. Indeed, Maruti was then the fifth biggest SUV maker in the country, even trailing South Korea’s Kia, which had entered the market in 2019. However, in the first half of 2023-24, Maruti, long renowned as a maker of frugal, fuel-efficient small cars, nosed ahead of Mahindra to become the largest SUV maker in the country.
07.11 / 17:55
Provident
FIVE
Man
band
country
reports
Another cooking gas subsidy hike may be on way
general elections next year, the Union government will likely offer additional relief to cooking gas customers by increasing subsidies under the Pradhan Mantri Ujjwala Yojana (PMUY), two people familiar with the development said. Currently, PMUY beneficiaries receive a ₹300 per cylinder subsidy for up to 12 cylinders annually, after the latest hike in subsidy announced last month. “Although the beneficiary base under PMUY has increased, customers under the scheme would require more relief, and further steps may be taken in coming months," one of the people cited above said, requesting anonymity.
07.11 / 17:55
FIVE
country
FMCG growth up in Sep qtr, signs of rural recovery seen
general elections. At an all-India level, both the food and non-food categories contributed to the growth in consumption. In the third quarter of 2023, the food sector grew 8.7% year-on-year.
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