MUMBAI: Stock investor Rakesh Jhunjhunwala, called “India’s Warren Buffett” with an estimated internet worth of US$6 billion, died early on Sunday (Aug 14) at age 62, their family said. A chartered accountant by profession from the desert state of Rajasthan, Jhunjhunwala started dabbling in stocks whilst in college andContinue Reading
India at the end of May allowed duty-free imports of 2 million tonnes each of soyoil and sunflower oil for the present and next fiscal years ending March 31, as part of efforts to maintain a lid on local edible essential oil prices. Through the end of June, soy oil’sContinue Reading
Gross domestic product (GDP) for 2022 is now expected to end up being 3. 76 percent higher than last year, the particular Directorate General associated with Budget, Accounting plus Statistics said, studying down the 3. 91 per cent forecast this issued in May. The outlook is far sluggish than theContinue Reading
SHENZHEN, China: Huawei Technologies said upon Friday (Aug 12) its first-half net profit more than halved as a difficult economic climate curtailed demand from customers, compounding woes brought by U. T. technology restrictions. Revenue dropped 5. 9 percent year-on-year during the time period to 301. 6 billion yuan (US$44. 73Continue Reading
Waluyo said BI will work with the authorities to address supply issues that had pressured customer prices, adding: “We will not let heading inflation go up”. He also repeated that BI will only increase rates when it sees a persistent rise in core inflation. BI is one of very fewContinue Reading
HONG KONG: China’s real estate crisis is casting a darkening cloud over governance and financial prospects of once highly valued property management companies, triggering a rout in their shares and making investors cautious. Already battered share prices have fallen a further 7 per cent this month as investors have reactedContinue Reading
Hong Kong’s Cathay Pacific Airways Ltd said strict surroundings crew quarantine rules were crimping the ability to take advantage of rising travel demand, even while it narrowed its first-half loss to HK$5 billion (US$636. 98 million). The carrier is falling far behind traditional rival Singapore Airlines Ltd (SIA) in repairingContinue Reading
TAIPEI: Taiwan’s exports rose in July on sustained demand for technology products with shipments to China picking up, and while the government said the outlook was good for semiconductors it warned of growing uncertainly for the global economy. Exports rose 14.2 per cent in July from a year earlier toContinue Reading
JAKARTA: US carmaker Tesla has signed contracts worth about US$5 billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia. Southeast Asia’s biggest economy has been trying to get Tesla to set up a production facility in the country, whichContinue Reading
TOKYO: Western companies are temporarily shutting offices or hanging production as they battle a record wave associated with COVID-19, disrupting companies in a country that has until now weathered the particular pandemic better than most advanced economies. Automakers Toyota Motor Corp plus Daihatsu Motor Company last week halted productionContinue Reading