South Asia

Donald Trump, the U.S. president, has continued to criticize and take action against corporate executives, institutions and corporations, even months after assuming office. His actions, from new export deals to freezing university grants, have changed the status quo in the United States between government, law and academia. Trump has publicly criticised a number of influential individuals and entities. NETFLIX Netflix has acquired Warner Bros Discovery’s film studios, streaming service and Warner Bros Discovery’s streaming arm for $72 billion. This gives Netflix control over one of Hollywood’s most iconic assets. After a lengthy bidding war, Netflix's offer of nearly $28 per...

Adani Group, owned by Alphabet, plans to invest $5 billion into Google's India AI Data Centre Project, an executive revealed on Friday. The company is looking to capitalize on the booming demand in data capacity across the world's largest nation. Google announced in October that it would invest $15 Billion over five years in the state of Andhra Pradesh to build an artificial intelligence data center. This is its largest investment in India. AI demands enormous computing power. This is driving demand for data centres with thousands of chips linked together in clusters. Adani Group CFO Jugeshinder Singh stated that...

The companies and government of Andhra Pradesh announced on Wednesday that a joint venture between Reliance Industries and the state will invest $11 billion in five years for the development of 1 gigawatt AI data capacity. Digital Connexion is a joint venture between the Canadian multinational Brookfield Corporation, and the U.S. real estate investment trust Digital Realty. The project will establish a campus of AI-native data centres on 400 acres in Visakhapatnam, Andhra Pradesh. Google announced in October that it would build AI data centres in Visakhapatnam, India, over a five-year period. This will be the largest AI hub the...

The author of the report that plunged BBC into crisis claimed the broadcaster wasn't "institutionally bias" but had editorial flaws. He hoped his criticisms could help to fix these. Michael Prescott, former external editorial advisor, has compiled a dossier of issues at BBC News. This includes allegations of bias regarding its coverage of the Israel/Hamas conflict and trans issues. The leaked report led to the resignations by Director General Tim Davie, and Deborah Turness as head of news, as well as a threat from Trump to sue up to $5 billion. This plunged the public broadcaster in its worst crisis...

The author of the report that plunged BBC into crisis claimed the broadcaster wasn't "institutionally bias" and had hoped to improve things with his criticisms. Michael Prescott, former editorial advisor, has compiled a dossier of issues at BBC News. This includes allegations of bias regarding its coverage of the Israel/Hamas conflict and trans issues. Leaked reports led to the resignations by Tim Davie, Director General, and Deborah Turness as head of news, and Trump threatened to sue the broadcaster for up to five billion dollars. This was the biggest crisis the public broadcaster has faced in decades. Prescott said to...

The U.S. Treasury announced on Monday that U.S. sanction against Russian oil giants Rosneft, and Lukoil have already reduced Russian oil revenues. They are also likely to reduce Russian oil sales in the future. In a press release, the Treasury's Office of Foreign Assets Control stated that their analysis of the first market impact of sanctions announced on the 22nd of October showed they were "having their intended effect of dampening Russian revenue by lowering Russian oil prices and therefore the ability of the country to fund its war against Ukraine." The Treasury's action was one of the strongest U.S....

A senior White House official stated on Monday that President Donald Trump would be willing to sign legislation imposing sanctions on Russia, as long as the ultimate decision-making power remained with him. Trump told reporters on Sunday night that he was "OK" with Republicans working on legislation to impose restrictions on countries that do business with Russia because Moscow failed to negotiate a deal with Ukraine. Trump suggested that lawmakers could add Iran to sanctions measures. Both Senator Lindsey Graham, and U.S. Rep. Brian Fitzpatrick are Republicans. They sponsored legislation to impose restrictions on countries that do business with Russia....

Sources at three Indian refiners reported on Tuesday that Saudi Arabia and Iraq, producers from the Middle East, have allotted full-term crude volumes for Indian refiners in December while also offering additional quantities under optional contracts. After halting their Russian oil purchases due to the tightening of Western sanctions, Indian suppliers have increased demand for Middle East crude. Last month, the United States, Britain and European Union designated Russian Top oil producers Rosneft, and Lukoil caused immediate disruptions in trade as fears of sanctions drove away buyers from India and China. Sources said that the Indian refiners received their full...

Sources in the trade said that two Indian state refiners purchased 5,000,000 barrels of crude from spot markets through tenders, as they continue their search for alternatives to Russian supplies. Hindustan Petroleum Corp. has purchased 2 million barrels of each U.S. West Texas Intermediate and Abu Dhabi Murban crudes for arrival in January, according to reports. Mangalore Refinery and Petrochemicals Ltd purchased one million barrels Basra Medium Crude for delivery between January 1-7, according to the company. It was not immediately clear who the sellers were or what their prices were. Indian refiners have been looking for alternatives since U.S....

The quarterly profit of Indian beauty retailer Nykaa more than tripled on Friday. This was boosted by the steady demand for skincare and makeup products, as well as through new partnerships with global brands. The company, which was formerly known as FSN e-Commerce Ventures posted a profit for the quarter ending September 30 of 344.4 millions rupees (about $3.9 million), up from 100.4million rupees one year earlier. Nykaa's quarterly results reveal that it is focusing on profitability and doubling down on the core beauty business. This has meant expanding the offline presence and securing strategic partnerships, including Katrina Kaif’s Kay...

Reliance Industries in India and Google announced tie-ups in artificial intelligence for consumers and businesses, including a free 18-month subscription to Google's Gemini AI Pro Platform, as part of a push to increase AI adoption in India. The companies have announced that the offer, currently priced at 35.100 rupees (about $399) for 18 months will allow Jio users to access the latest Gemini 2. Pro model, 2TB of cloud storage and its image and videos generation models. OpenAI announced a few days earlier that it would provide users with ChatGPT Go access for a full year in India. India's AI...

India announced on Thursday that the U.S. had granted it a six-month waiver of sanctions to operate Chabahar's Iranian port. This will help New Delhi to boost its trade with Afghanistan and Central Asian nations, bypassing Pakistan. Last year, India signed a contract for 10 years with Iran. Develop and operate a port This month, the United States has increased its cooperation with Taliban-run Afghanistan. Reopening of its Embassy Kabul was closed in 2021 after the Islamist group took power following the withdrawal by the U.S. led NATO forces. Initially, the port was planned to be built on Iran's Gulf...

As 'investors' flocked to the safety of gold amid the U.S./Venezuela conflict, silver rallied to a new high. Gold spot rose by 0.9%, to $4,486.55 an ounce, at 0753 GMT. It had earlier reached a session record of $4,497.55. U.S. Gold Futures for February Delivery gained 1.1%, reaching $4,519.20. Tim Waterer is the chief market analyst for KCM Trade. He said that U.S.-Venezuela tense relations are keeping gold in investors' minds as a hedge against uncertainty. Gold has surged this past week, as part of a larger positioning shift, with U.S. rates expected to ease even further. Waterer stated that...

Gold prices were not much changed on Friday due to a stronger U.S. Dollar and higher?Treasury?yields. However, bullion is still expected to gain weekly. As of 10:05 am, spot gold was up 0.1% at $4,338.37 per ounce. ET (1505 GMT) but was on track to record a weekly increase of 0.9%. U.S. Gold Futures gained?0.1% at $4,370.10. Dollar-priced gold is now more expensive for overseas buyers. Benchmark 10-year U.S. Treasury rates also increased. "We are seeing some reactions to a stronger U.S. Dollar, higher yields on the curve and a slightly firmer appetite for risk since yesterday," Bart Melek said,...

Gold rose 1% Monday, hovering near a seven-week high. Supported by a weaker?dollar, expectations of?rate?cuts, and safe-haven purchases due to geopolitical?tensions, silver also gained, but held below the record high set on Friday. Gold spot gained 0.9%, to $4,338.29 per ounce, by 1322 GMT. It had risen more than 1% in the previous session. Bullion reached its highest level since October 21 last Friday. U.S. gold futures rose 1% to $4.372.80 per ounce. Dollars hovered around a two-month-low reached last week. This made gold priced in greenbacks more affordable to overseas buyers. The benchmark 10-year U.S. Treasury rates also declined....

Gold rose 1% Monday, hovering near a seven-week high. Supported by a weaker US dollar, the expectation of interest rate cuts, and safe-haven purchases due to geopolitical turmoil, silver also gained, but remained below Friday's high. Gold spot rose 0.9%, to $4,343.96 per ounce, at 1145 GMT. It had risen over 1% in the previous session. Bullion reached its highest level since October 21 last Friday. U.S. Gold Futures rose 1.1% to $4.374.40 per ounce. The dollar hovered around a two-month-low reached last week. This made greenback-priced gold more affordable for foreign buyers. Meanwhile, benchmark yields on 10-year U.S. Treasury...

The price of silver hit a new record on Friday, as gold prices rose more than 1% and hovered at a 7-week high. This was spurred by a weaker dollar and the Federal Reserve's interest rate reduction this week. By 1028 am, spot gold had risen 0.6% to $4.308,43 an ounce. ET (1528 GMT), and was on course for a weekly gain of 2.7% after previously rising by 1%. U.S. Gold Futures increased 1.5% to $4.376.60. Silver spot rose by 0.8%, to $63,03 per ounce. This is after it reached a new record high of $64.64/oz. The metal has gained...

Gold prices rose by?1% on Friday to a seven week high, helped by a weak dollar, expectations of interest rate reductions and a safe haven demand due to geopolitical turmoil. Silver also hit a new record high. Spot gold climbed 1% by 1248 GMT to $4,327.31 an ounce, its highest since October 21. It was also set for a weekly gain of 3.1%. U.S. Gold Futures rose 1.2% to $4363.20. Dollar hovered at a 2-month low and was on course for a third consecutive weekly decline, making gold more affordable for foreign buyers. Zain Vawda is an analyst at MarketPulse,...

Gold prices rose by?1% on Friday to a seven week high, helped by a weak dollar, expectations of interest rate reductions and safe haven demand due to geopolitical turmoil. Silver also hit a new record high. Gold spot rose by 1.2% at 1136 GMT to $4,332.25 an ounce, its highest since October 21. It was also set for a weekly gain of 3.2%. U.S. Gold Futures rose 1.3% to $4 368.60. Dollar hovered at a 2-month low and was on course for a third consecutive weekly decline, making gold more affordable for foreign buyers. Zain Vawda is an analyst at...

Gold prices rose to a seven week high on Friday. This was boosted by a weak dollar, expectations of interest rate reductions, and a safe haven demand due to geopolitical turmoil. Gold spot rose 0.7% at 0945 GMT to $4,311.73 an ounce, its highest since October 21. This marks a 2.7% gain for the week. U.S. Gold Futures rose 0.7% to $4343.50. Dollar hovered at a two-month high and was on course for a third consecutive weekly drop. This made bullion more accessible to overseas buyers. Zain Vawda is an analyst at MarketPulse by OANDA. He said that "the sharp...

The gold price held at a 7-week high?Friday. This was due to the expectation of further interest rate reductions next year after the U.S. Federal Reserve rejected hawkish bets. Silver prices were just below their record high from Thursday. Gold spot rose by 0.1% at $4,286.35 an ounce as of 0708 GMT. It was still on course for a weekly gain of 2.1% after reaching its highest level since October 21 last Thursday. U.S. gold futures rose 0.1% to $4317.50. Dollar was set to drop for the third consecutive week, making gold cheaper for foreign buyers. Soni Kumari, an ANZ...

This week, gold?discounts widened in India as demand declined despite the?wedding?season after prices reached record highs. Meanwhile, Chinese demand was muted amid high spot prices and volatility. Indian dealers are offering a discount This week, official domestic prices will be discounted by up to $34 per kilogram, including 6% import duties and 3% sales taxes. This is a larger discount than the $22 last week. A Mumbai-based dealer of bullion with a private banking firm said that jewellers had not been purchasing (gold), as the footfall in their stores has dropped due to a?price rise. On Friday, the price of...

The dollar fell on 'Thursday, as the U.S. Federal Reserve cut interest rates by a quarter point. Silver also surged and reached a new record high. As of 11:49 am, spot gold rose 1.2% to $4,275.39 an ounce. ET (16:49 GMT), it reached its highest level since the 21st of October. U.S. Gold futures for delivery in February gained 1.9%, reaching $4,303.90 an ounce. Spot silver rose 3.2% to $63.77 an ounce, nearing the session's record high of $63.93. Edward Meir, Marex analyst, said that silver is pulling up gold and also platinum and palladium. "There's a lot going on...

Thyssenkrupp’s steel unit announced that it would temporarily stop production of electrical steel, a material key to wind turbines and electricity grids. It blamed 'cheap imports' from Asia, which it warned were putting an additional '1,200 jobs in danger. According to industry sources, the move was previously unknown and highlights the struggles Europe's steel industry faces in the face global trade frictions which have forced Chinese competitors to sell surplus capacity on the continent at a lower price, even by a quarter. Thyssenkrupp Steel Europe, Europe's second largest steelmaker, has already cut or outsourced 11,000 jobs as a response to...