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Smartphone giant Xiaomi's EV buyers face up to 7-month wait for car

On Sunday, co-founder and CEO Lei Jun, in a Weibo post said that it would open a second round of sales for the Founder's Edition, though he didn't specify the quantum

China's factory activity expands at fastest pace in 13 months in March

Citi last week raised its forecast for China's 2024 growth to 5.0 per cent from 4.6 per cent, citing recent positive data and policy delivery

China's SAIC Motor aims to slash jobs at GM, VW ventures, and EV unit

The state-owned automaker hopes to cut 30 per cent of employees at SAIC-GM, 10 per cent at SAIC Volkswagen and more than half at its Rising Auto EV subsidiary, the people said

Ultra-orthodox need to join military to help economy: Israel's central bank

In its 2023 annual report, the central bank said Israel's war against Palestinian Islamist group Hamas in Gaza that began on October 7 had highlighted the personnel needs of the military

GDP set to grow at least 8% in Jan-March quarter: FM Nirmala Sitharaman

Country's economy is projected to grow at 7.6% in the current fiscal year to March 31, according to the latest government estimates

India's forex kitty rises by $139 mn to $642.63 billion: RBI data

Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund

US monthly inflation slows, consumer spending surges, reveals data

The personal consumption expenditures (PCE) price index rose 0.3% last month, the Commerce Department's Bureau of Economic Analysis said

Musk's Grok-1.5 AI chatbot to be available on social network X next week

Musk said xAI would open-source Grok, days after the billionaire sued Microsoft-backed OpenAI for allegedly abandoning its original mission in favor of a for-profit model

Panasonic to sell entire stake in autos biz to Apollo Global Management

Panasonic said it will also acquire a 20% stake in Star Japan Holdings, the company which will own the new parent company of PAS

Force Motors to shut down its agricultural tractors business from March 31

In financial year 2023, the sale of agricultural tractors accounted for 3.66% of the company's total revenue, Force Motors said

Fed's balancing act could see rate cut in play even with sticky inflation

Others see a slowing economy and weakening job growth on the horizon, pushing the Fed to cut in order to support the labor market

Centre mandates weekly reporting on wheat stocks to prevent hoarding

India had imposed a limit on how much wheat stock traders could hold to moderate prices. However, the limit is set to expire on March 31st and after that, traders must declare their wheat stocks

India keen on trade deals with UK, Oman in PM Modi's probable next term

Modi has asked Indian ministries to set annual goals for the next five years that will fit into a 100-day action plan as he chalks out a strategy to fuel further growth in Asia's third-largest economy

Ukraine requests India to reconsider 'Soviet legacy' of Russia ties

Ukrainian foreign minister has urged India to support it in its war against Russia. India-Russia ties are based on Soviet legacy that is evaporating, he said

Swiggy records $200 million loss in nine months to December 2023: Report

The document showed that losses stood at 17.3 billion rupees $207 million during April to December 2023 - the first nine months of fiscal year 2023-24

Adani Energy mulls borrowing up to $600 mn for smart meter projects

The Indian power distribution company is in talks with a group of global lenders, with the foreign currency loan's tenor likely to be around three to five years, the report added

India to send delegations to Chile seeking lithium and copper assets

Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems

Strong economy, steady inflows power Nifty to best fiscal since 2021

India's growth has also outpaced its Asian peers, with the domestic economy speeding towards growth of 7.6% in fiscal 2024, the fastest among large economies

UK's Thames Water faces new crisis as shareholders refuse to invest

The group has become a poster child for the failures of privatisation, after its performance deteriorated in the 2010s when its previous investors took out huge dividends

China lifts tariffs on Australian wine, ends three years of punitive levies

Ties have improved significantly since last year, leading China to steadily lifting trade hurdles on Australian goods, including barley and coal