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Three NBFCs looking to raise funds through dollar bond issue, say bankers

Manappuram Finance, Muthoot Finance and state-run REC are aiming to issue benchmark-sized bonds, which means the issuance will be around $500 million each, the three bankers said

Russian central bank holds interest rates at 16%, raises inflation forecast

The decision was in line with a Reuters poll of economists, which had forecast that the persistence of inflation, fanned by strong consumer demand and widespread labour shortages

India expects annual power output to grow at fastest in over a decade

India's weather office has forecast more heat-wave days than normal between April and June this year, potentially boosting power use and generation further

Sri Lanka approves IMF-backed law to seize any proceeds from crimes

The Proceeds of Crime Act (POCA) will allow for the judicial freezing and forfeiture of proceeds of crime and establishes a new authority to manage such seized assets

Japan's yen hits fresh 34-year low after BOJ holds interest rates

The yen also nudged down to its weakest almost 16 years at 167.38 per euro and its weakest in nearly a decade on the Australian dollar

Asia stocks rise, yen slips as BOJ maintains accommodative monetary policy

Nasdaq futures advanced more than 1%, while S&P 500 futures rose 0.85%

Tesla's plan for affordable cars follows playbook of its Detroit rivals

Tesla said the change would allow the company to launch low-cost vehicles swiftly but would result in smaller cost reduction than had been expected and modest volume growth

Rice prices at three-month low on shrinking demand, ample supplies

Vietnam's markets will be closed from Monday through Wednesday for national holidays

Blinken to meet Chinese counterpart in Beijing, discuss complex issues

Taiwan and the disputed South China Sea remain flashpoints, while the US is eager to see more progress on the curbing of China's supply of the chemicals to used to make fentanyl

Trump compares Israel's college protests to 2017 white nationalist rally

Trump, the Republican candidate for president in the November elections, also sought to place blame for the campus protests on Democratic President Joe Biden

US economic growth in Jan-Mar slows to a 2-year low; inflation surges

The economy grew at a 3.4% rate in the fourth quarter. The first quarter growth's pace was below what U.S. central bank officials regard as the non-inflationary growth rate of 1.8%

Global economy to continue solid momentum for rest of the year: Survey

A 60% majority of economists, 98 of 162, said the global economy this year was more likely to grow faster than they expected than undercut their predictions

Global wine demand drops to 27-year low as prices hit record high

The fall in demand last year was particularly big in China, estimated at minus 25%

Russia reinsurer backs firms to get India marine insurance permit

India has approved the three new insurers after Russian National Reinsurance Company (RNRC) provided a financial guarantee, the two sources with direct knowledge of matter said

FirstCry set to withdraw $500 million IPO papers after regulatory scrutiny

For the year ended March 31, 2023, its losses jumped six times to $57.6 million, while its total income more than doubled to $684 million, its draft papers show

Dow sees quarterly sales below estimates over weak consumer durables demand

Retail sales in Germany, Europe's largest economy, fell unexpectedly in February, while the continent's manufacturing activity continued its decline during the first quarter

GlaxoSmithKline sues Pfizer, BioNTech over Covid-19 vaccine technology

GSK said in the lawsuit that Pfizer and BioNTech's Comirnaty vaccines violate the company's patent rights in mRNA-vaccine innovations developed "more than a decade before" the outbreak of COVID-19

US, 17 other countries urge Hamas to release hostages, end Gaza crisis

The 18 countries all have citizens held by Hamas six months after the Palestinian militant group launched its Oct. 7 assault on southern Israel and killed 1,200 people

Will continue to invest in tie-ups with Chinese firms, says Mercedes-Benz

China is 'the most dynamic new energy vehicle market', country chief Hubertus Troska said at a press conference on the opening day of the Beijing auto show

Nasdaq down over 2%, Dow falls 500 points on US GDP growth data

Meta plunged 14.7% after the Facebook-parent forecast higher expenses and lighter-than-expected revenue