Standard Chartered CEO says big US recession unlikely
The "reactive response in the U.S. was perfect," effectively stemming the crisis, he said, adding the ideal would have been to provide liquidity to "challenged banks" ahead of time. Key Points
FinancialexpressNeed to focus on infra, investment, innovation, inclusivity for sustainable growth: Nirmala Sitharaman
Elaborating on the four Is, the Minister said investment is essential to spur infrastructure development, which has a potential to generate jobs. The third I is for innovation, she said adding innovative solutions from startups are required to deal with issues facing the countries. Key Points
Economic TimesShyam Metalics expects a CAGR of 15-20% Y-o-Y; both bottom line and top line to improve: B Bhushan Agarwal
Shyam Metalics has announced a new capex of close to INR 3,900 crore ($525m) and it is adding more capacity for speciality alloys, power gen and different products. The company aims to see a 15-20% YoY CAGR and the bottom and top lines are set to improve. Despite muted numbers recently, margin has remained relatively stable as the company is an integrated player. The company has a fundraising plan for around INR 3,600 crore and a capex plan of INR 4,000 crore. Key Points
Economic TimesGerman battery maker Varta says five plants hit by cyberattack
(Reuters) -German battery maker Varta's five production plants were hit by a cyberattack on Feb. 12, the company said late on Tuesday, adding that the extent of the damage had yet to be determined. Key Points
ThePrintRBI may shift policy stance to neutral by June: Nomura
The core inflation for December came at 3.8 per cent, the note said, adding that the annualized growth of super-core inflation has dipped below 3 per cent by its estimates which is a positive surprise . For January, the headline inflation is likely to cool-off to about 5 per cent, while the core is pegged at 3.5 per cent. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/UDEX2DIZGFLOFLB42KH3TRTU3E.jpg)
Britain's Lloyds shake-up puts around 2,500 jobs at risk - source
Britain's biggest high street bank Lloyds (LLOY.L) is putting around 2,500 jobs at risk as part of a shake-up, a source familiar with the matter told Reuters, amid a renewed push by lenders to slash costs. Key Points
ReutersIndian shares set to open lower as Powell fans rate worries
India's blue-chips are set for a lower open on Friday after U.S. Federal Reserve Chair Jerome Powell's comments fanned worries over higher-for-longer interest rates, adding to mounting concerns over the Middle East crisis. Key Points
ReutersLiquor trader shot dead outside dhaba in Haryana's Murthal, probe on: Video
Sunder Malik, a liquor trader from Gohana, was fatally shot by unidentified assailants outside Gulshan Dhaba. CCTV footage showed Malik trying to fight off the attackers. Key Points
mintThese states have declared a holiday for the Ayodhya Ram Mandir celebration on January 22!
States nationwide embrace festive fervor as Ayodhya Ram Mandir inauguration nears, prompting holidays for citizens. Uttar Pradesh leads the way with a joyous day off on January 22, echoing Diwali celebrations. Goa, Madhya Pradesh, Chhattisgarh, and Haryana follow suit, adding their unique touch to the nationwide jubilation. The 'Pran Pratishtha' event promises a historic spectacle, drawing dignitaries, sages, and saints from across India. Security measures in Ayodhya are heightened as the country eagerly anticipates this significant cultural and religious milestone. Key Points
Economic TimesNora Fatehi, Kriti Sanon and other divas steal the spotlight at IIFA Awards 2023
IIFA Awards 2023: The biggest B-wood stars walked the green carpet in jaw-dropping looks. From Kriti Sanon to Nora, here's what the celebrities wore last night. | Fashion Trends Key Points
Hindustan Times
Do SIPs in HDFC, Asian Paints and reap reward in next one year; up ante in metal/OMC space: Sanjiv Bhasin
Sanjiv Bhasin, Director of IIFL Securities, advises investing in PSUs, OMCs, insurance companies, and largecaps like Reliance and HDFC Bank. He also suggests considering stocks like Vedanta, Hindustan Copper, Devyani, HDFC Life, and Asian Paints for potential returns. Bhasin says: We remain in a bull market but fundamentally and technically, we have reached a peak from where we can see some consolidation/correction. ' Key Points
Economic TimesChina accuses US of devising tactics to suppress China despite improvement in relations
Flays Biden Administration for adding more Chinese companies to its sanctions lists. China’s foreign minister accused the US on Thursday of devising tactics... Key Points
The Tribune IndiaCapital goods and fertilisers are most impacted by the Red Sea crisis: CRISIL
The Red Sea conflict has also impacted Middle Easts fertiliser exports to India. Shipment timelines have been extended by nearly a fortnight and hiked freight costs. “Import of the key fertiliser, muriate of potash (MOP), from Jordan and Israel has been majorly affected. Israel constitutes 10-15% of MOP exports to India, while Jordan constitutes 25-30%,” CRISIL said while adding that the Indian government has assured a sufficient buffer for fertilisers but MOP supplies from these countries will be affected if the situation persists for long. Key Points
Economic TimesBudget: Industry seeks tax incentives, more funds to boost manufacturing, green tech, exports
We remitted over USD 80 billion as transport service charge in 2021. As the country moves towards the goal of USD 1 trillion, this will touch USD 200 billion by 2030, Federation of Indian Export Organisations (FIEO) said, adding that the private sector may be engaged to develop the shipping lines. Key Points
Economic TimesApple rolls out iOS 17.3 with Stolen Device Protection: What is it and how it works
Apple's latest update, iOS 17.3, includes Stolen Device Protection, a feature that enhances security by requiring Face ID or Touch ID authentication and adding a security delay for critical actions. Key Points
mint
Prague University Update: Who was gunman ‘David Kozak’, the ‘excellent student’ killed his father before mass shooting?
David Kozak was studying Polish history at Prague's Charles University. Prague Police Chief Martin Vondrasek called him an ‘excellent student’ with no criminal record. Key Points
mintOil and gas should not be demonized: Elon Musk
It is important to reduce carbon emissions to preserve the planet, but oil and natural gas should not be demonized in the medium-term, Elon Musk said on Saturday. Earlier this week representatives from nearly 200 countries agreed at the COP28 climate summit to begin reducing global consumption of fossil fuels to avert the worst of climate change, signalling the eventual end of the oil age. Climate change alarm is exaggerated in the short term, the US billionaire said, adding that the environmental movement may have gone too far, causing people to lose faith in the future. Key Points
Economic Times6-yr-old charred to death, 4 others injured after fire breaks out in Jharkhand’s Hazaribag
Police says fire broke out in a private residence in a market area & was doused after 5 hrs hours of firefight. Injured are undergoing treatment & their condition is said to be critical. Key Points
ThePrintWho will perform in cricket World Cup final ceremony? Check out the full list here
As cricket giants India and Australia prepare for a historic clash, the stage is not only set for a thrilling cricketing spectacle but a star-studded extravaganza that promises to transcend the boundaries of a conventional sports event. Check out this enchanting lineup of aerobatics, music, and performances that will mark this cricketing showdown as an event for the ages. Key Points
Economic TimesUnitedHealth's unit to add eight insulin products to its reimbursement list
UnitedHealth's (UNH.N) pharmacy benefit manager unit said on Thursday it was adding eight insulin products to its reimbursement list that would limit out-of-pocket spend to $35 or less. Key Points
Reuters
Apple's India map provider surges 104% in over 6 months as it rivals Google’s product
Shares of MapmyIndia, formally known as CE Info Systems Ltd., have risen about 104% from the end of March, adding around $675 million in market value on demand for its consumer-facing app Mappls. Some analysts and investors are betting on the companys domestic growth opportunity, while others view its price tag as a barrier. Key Points
Economic Times120 dead, around 1,000 injured following earthquakes in Afghanistan
According to the China Earthquake Networks Centre, two earthquakes with a magnitude of 6.2 jolted Afghanistan on Saturday, Xinhua news agency reported. Earlier, a statement from the country's National Disaster Management Authority said 15 people were dead and 40 were injured, but locals believe the number of casualties could be higher. Key Points
Economic TimesIndian shares gain as dip in crude, US bond yields lift mood
India Business News: The NSE Nifty 50 index was up 0.49% at 19,531.55, as of 10:09 a.m. IST, and the S&P BSE Sensex climbed 0.54% to 65,579.94. Asian equities edged higher Key Points
Times Of IndiaOil jumps 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices surged 3% on Wednesday, after U.S. crude stocks fell more than expected, adding to worries of tight global supplies. Brent crude futures breached $97 Key Points
ThePrintUS Fed meet outcome: From rate hike to road ahead - Key takeaways from Fed decision
The quarter percentage-point hike, a unanimous decision, lifted the target range for the Fed’s benchmark federal funds rate to 5.25 per cent to 5.5 per cent, the highest level since 2001. It marked the 11th increase since March 2022, when the rate was near zero. Key Points
mint/cloudfront-us-east-2.images.arcpublishing.com/reuters/2BXXJ5YV65MGZKIY73D3YR2LWM.jpg)
Julius Baer wants to double assets under management - Handelsblatt
Swiss bank Julius Baer (BAER.S) can double its assets under management to 1 trillion Swiss francs ($1.12 trillion), CEO Philipp Rickenbacher said in an interview with German daily Handelsblatt on Monday. Key Points
ReutersFor wealth creation: 5 largecap stocks with right mix of ROE & ROCE
Are banks more prone to interest rate cycles or is it manufacturing business which is more vulnerable to higher interest rates? Would rapidly rising use of artificial intelligence tools bring more risk to software companies as some of them may lose their relevance or it would be adding more value to the manufacturing sector. ET screener powered by Refinitiv’s Stock Report Plus lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic TimesCelltrion launches biosimilar of AbbVie's blockbuster drug Humira in US
South Korea's Celltrion Healthcare has launched a copycat version to AbbVie Inc's Humira at about a 5% discount, adding to the growing competition for the blockbuster rheumatoid arthritis drug in the U.S. Key Points
Reuters‘Pre-planned’: Manipur CM Biren Singh hints at external forces behind violence
Manipur Chief Minister N Biren Singh hinted at a foreign hand behind the ethnic violence in the state in which over 100 people have been killed. He added that the violence seemed “pre-planned”. Key Points
India TodayFor long-term wealth creation: 6 largecap stocks with right mix of ROE & ROCE
Would rapidly rising use of artificial intelligence tools bring more risk to software companies as some of them may lose their relevance or it would be adding more value to the manufacturing sector. This debate will dominate the street for some time to come.ET screener powered by Refinitiv’s Stock Report Plus lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic Times
5 largecap stocks with right mix of ROE & ROCE for wealth creation
Would rapidly rising use of artificial intelligence tools bring more risk to software companies as some of them may lose their relevance or it would be adding more value to the manufacturing sector. ET screener powered by Refinitiv’s Stock Report Plus lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic TimesPaytm leads $6 billion stock rally as India tech unicorns seek redemption
Paytm's parent company, One 97 Communications, has seen a 69% surge in shares, adding $2.7bn in market value, after improving profitability ahead of schedule. Other Indian tech firms, including Zomato and PB Fintech, have also seen significant market value growth Key Points
mintPaytm leads $6 billion rally as new-age tech stocks seek redemption
Indian tech unicorns such as Paytm, Zomato, and PB Fintech have rebounded from a global selloff last year and have gained between 28% to 69% this year, adding over $4.7 billion in market value. These companies have focused more on profitability, leading them to exit businesses that showed little promise and cut costs. Even though the global concerns remain, the sector has regained interest as pandemic-safe investments due to its potential in emerging technologies such as artificial intelligence. Despite their gains this year, some shares still trade below their IPO price. Key Points
Economic TimesOdisha Balasore train accident: Focus shifts to repair, restoration
Full restoration of services is likely to be done from Wednesday, minister Vaishnaw said, adding: All the coaches have been cleared from the accident spot... We are repairing tracks to undertake speedy restoration of services... Key Points
Economic TimesPrivate sector investment set to witness significant increase: CII President
Private sector investment is expected to increase as capacity utilization in several key sectors has exceeded 80%. Economic growth is expected to reach 6.7% in the current financial year, according to the newly elected CII President R. Dinesh. The Reserve Bank of India is likely to maintain status quo on interest rates in the next bi-monthly monetary policy, Dinesh added. Key Points
Economic Times
3-year-old goes to sleep in Hyderabad parking lot, dies after being run over by SUV | Caught on cam
A 3-year-old girl was killed after being run over by an SUV in the parking area of an apartment in Hyderabad. The entire incident was caught on camera. Key Points
India TodayPakistan growth slows sharply as economic challenges mount
International Business News: Pakistan's GDP grew provisionally by 0.29% in the fiscal year ending June 30, 2021, marking one of the lowest growth rates in country's history. The e Key Points
Times Of IndiaWheat output may be below govt estimate of 112 mt: Agriwatch
The estimate is higher than last year's 97.7 mt, said Agriwatch CEO Santosh Jhanwar, adding that the estimate is a result of two rounds of field surveys, weather analysis and remote sensing data analysis from nine states and 80 districts across the country. Key Points
Economic TimesPutin ‘informationally isolated’, could use ‘the bomb’ if…: Ukraine's Zelensky
Russia-Ukraine War: “If a person wants to save himself, he really ... will use these. I'm not sure he's ready to do it," Volodymyr Zelensky said. | World News Key Points
Hindustan TimesUnsettled borders continue to engage us, deterrence instruments needed: Army Chief
“Our existing inventory has a fair mix, in terms of vintage and theatre specific requirements. The pursuit to infuse technology into our war fighting systems remains an enduring one,” he said. Key Points
The Indian Express