India Enters 5G Era as Debt-Laden Carriers Gird to Spend Billions

To capitalize on 5G, China has been rolling out smartphone apps and industrial projects such as super high-definition live streaming, remote manufacturing, virtual reality and robotic surgery arms. The country’s three state-owned carriers have introduced more than 25,000 such applications, according to a news article posted by the State Council on its website in August. … Read more

Oil Traders Regain Their Swagger With World Desperate for Fuel

“Energy security is number one, price is number two, sustainability is number three,” said Russell Hardy, chief executive officer at Vitol Group, the world’s top oil trader by volume. “That’s the short-term set of priorities. The long set of priorities haven’t changed, they’re the other way around.”

Intel’s Mobileye files for listing in first sign of thawing tech IPO market

Sept 30 (Reuters) – Intel Corp’s (INTC.O) self-driving unit Mobileye on Friday unveiled its filing for a US initial public offering, testing support for a high profile stock debut even as the market for new issues has virtually collapsed. The tech IPO market globally is in the middle of its worst drought in almost two … Read more

Thai policy tightening to be gradual as recovery slow – chief

BANGKOK, Oct 1 (Reuters) – Thailand’s economy recovery remains intact but slow, so monetary policy tightening should be gradual to ensure a smooth recovery while fighting surging inflation, the central bank chief said on Saturday. Southeast Asia’s second-largest economy is expected to return to its pre-pandemic growth rates late this year or early next, Sethaput … Read more

Led by Hong Kong, Asian stocks on track to suffer worst month since Covid began

Hong Kong CNN Business — Asian markets are careening towards their worst month since the Covid pandemic began, hit by a mighty US dollar and rising global recession fears. The MSCI Asia ex-Japan Index — which captures 10 major markets across Asia, excluding Japan — has fallen 12.8% so far this month, on track to … Read more

Sweden resumes arms exports to Turkey after NATO membership bid

OSLO/STOCKHOLM, Sept 30 (Reuters) – Sweden’s Inspectorate of Strategic Products (ISP) said on Friday it reversed a ban against exporting military equipment to Turkey, following the Nordic country’s decision to join the NATO military alliance and agreement to overcome Turkish objections. The Sweden and Finland sought membership to NATO earlier this year following Russia’s invasion … Read more

Investors dump global bond and equity funds on recession risks

Sept 30 (Reuters) – Global bond and equity funds witnessed massive outflows in the week ended Sept. 28 as worries about a recession grew, with the US Federal Reserve determined to keep interest rates higher to tame inflation pressure. read more A selloff in British gilts following finance minister Kwasi Kwarteng’s announcement of historic tax … Read more

HSBC kicks off informal investor talks for Indonesian business IPO

HONG KONG, Sept 30 (Reuters) – HSBC Holdings Plc has started briefing investors on a potential initial public offering (IPO) of its Indonesian business, said two sources with direct knowledge of the matter. Executives at HSBC Indonesia have met with a group of fund managers in Singapore since last week to discuss details of the … Read more

Russian ruble leaps to 8-year high vs euro as market awaits sanctions

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Sept 30 (Reuters) – The rouble soared to its highest in almost eight years against the euro on Friday, with investors anxious that more sanctions against Moscow could limit foreign currency trading as Russia prepared to annex … Read more

Hong Kong retail sales slip 0.1% in August

HONG KONG, Sept 30 (Reuters) – Hong Kong’s August retail sales slipped 0.1% from a year earlier amid a high base of comparison, government data showed on Friday. Sales decreased to HK$28.6 billion ($3.64 billion), having grown 4.1% in July. In volume terms, retail sales fell 2.9% year-on-year in August. That compares with a revised … Read more