Bloomberg
Bloomberg
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Gautam Adani becomes world's third-richest person, first Asian to do so
It's the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index -- fellow citizen Mukesh Ambani and China's Jack Ma never made it that far
 "Gautam Adani becomes world's third-richest person, first Asian to do so")
Bitcoin may have hit a floor after Fed chief's speech at Jackson Hole
The largest cryptocurrency is down about 6% since Powell's hawkish Aug. 26 Jackson Hole speech underlined that the Federal Reserve wants to subdue financial markets
 "Bitcoin may have hit a floor after Fed chief's speech at Jackson Hole")
Reserve Bank can hike repo rate to 6% by December, say economists
The RBI rate hike expectations come despite economists predicting a moderation in inflation due to slump in global commodities and easing supply chain bottlenecks
 "Reserve Bank can hike repo rate to 6% by December, say economists")
Fracking giant Liberty Energy says fossil fuels to rule for decades
"We're investing a lot of money in some new energy technologies; some of this is great, but it's not an energy transition," Wright, chief executive officer at Denver-based Liberty Energy said
 "Fracking giant Liberty Energy says fossil fuels to rule for decades")
Coal crisis, supply crunch hasten metal makers' switch to renewable energy
The increased expenses slashed profits of some of the biggest mills in India at a time when commodity prices were rallying to multi-year highs
 "Coal crisis, supply crunch hasten metal makers' switch to renewable energy")
How the Indian military can be weaned off its dependence on Russian weapons
Shifting toward buying more Western weapons systems and lessening its dependence on Russia, for instance, would bolster India's autonomy
 "How the Indian military can be weaned off its dependence on Russian weapons")
Microsoft outlines changes in European cloud-licence terms after complaints
The changes will make it simpler for customers of rival cloud-service companies in Europe to move their existing software to these other networks, Microsoft said
 "Microsoft outlines changes in European cloud-licence terms after complaints")
A startup in Japan offers aging CEOs a worry-free succession plan
Founded in 2018 by a group of bankers and consultants with little exposure to the factory floor, NGTG's revenue has grown from zero to 8 billion yen ($59 million)
 "A startup in Japan offers aging CEOs a worry-free succession plan")
More UK energy aid to come under incoming leader, says Nadhim Zahawi
Zahawi's remarks come as economic headwinds build against the UK, with the Bank of England predicting a recession lasting more than a year amid surging inflation
 "More UK energy aid to come under incoming leader, says Nadhim Zahawi")
China bad debt managers see earnings tank on deepening property losses
China's distressed-debt managers have been in turmoil as aggressive lending to embattled developers and unchecked expansion into other areas has beset the $730 billion funds with heavy credit losses
 "China bad debt managers see earnings tank on deepening property losses")
Economy faces resilience test as policymakers prioritise prices over growth
Gross domestic product is estimated to rise 15.4% in the three months to June from a year ago, according to a Bloomberg survey
 "Economy faces resilience test as policymakers prioritise prices over growth")
China's growth prospects weaken as economists cut 2023 forecasts
Growth projections for the first three quarters of next year were also lowered -- by 0.1-0.4 percentage points -- although the median for the whole of 2023 remained unchanged at 5.2%
 "China's growth prospects weaken as economists cut 2023 forecasts")
Buy commodities, worry about recession later, says Goldman Sachs
Goldman Sachs did caution the path ahead may not be smooth, especially if the greenback extends gains
 "Buy commodities, worry about recession later, says Goldman Sachs")
Bitcoin hovers around $20k as Fed chief's hawkish comments weigh on crypto
The largest token fell as much as 2.3% on Monday to $19,527, the fifth day of declines
 "Bitcoin hovers around $20k as Fed chief's hawkish comments weigh on crypto")
WhatsApp rolls out in-app shopping product with JioMart. Check details
The new feature lets users in India shop for products from JioMart, and pay for them directly within the app
 "WhatsApp rolls out in-app shopping product with JioMart. Check details")
Govt working to avoid panic over rice with targeted curbs on export
India accounts for 40% of the global rice trade so any change in its export policy has huge implications for the billions of people who depend on the staple
 "Govt working to avoid panic over rice with targeted curbs on export")
Mukesh Ambani's Reliance Industries buys Dubai's costliest home ever
The family has been increasing its real estate footprint overseas, with all three siblings looking Westward for second homes, one of the people said
 "Mukesh Ambani's Reliance Industries buys Dubai's costliest home ever")
Iran may drain offshore crude oil cache if nuclear agreement reached
About 93 million barrels of Iranian crude and condensate are currently stored on vessels in the Persian Gulf, off Singapore and near China
 "Iran may drain offshore crude oil cache if nuclear agreement reached")
China steps up measures to wipe out Covid-19 as political summit looms
China is enforcing lockdown restrictions in areas around Beijing more intensively, and will mass test the nearby port city of Tianjin
 "China steps up measures to wipe out Covid-19 as political summit looms")
'Inflation fever' finally breaking but central banks won't stop rate hikes
As economic growth slows, prices for key raw materials - from oil to copper and wheat - have cooled in recent weeks, taking pressure off the cost of manufactured goods and food
 "'Inflation fever' finally breaking but central banks won't stop rate hikes")