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Bank of England is 'much nearer' to peak interest rates, Bailey says

The BoE has raised rates at each of its last 14 meetings as it grappled with the highest inflation among the world's big, rich economies

India to offer $452 mn in incentives for battery storage: Anurag Thakur

India will offer $452 million in incentives to companies to set up battery storage projects, in a bid to boost the country's green energy capacity, a top minister said

Go First lessor seeks parts replacement 'robbed' from grounded planes

Go First has been locked in legal disputes with many of its foreign lessors since being granted bankruptcy protection in India in May

Chinese chipmaker raises over $1.8 bn as Beijing prepares new chip fund

With this injection of capital Shanghai-based GTA Semiconductor has in less than two years racked up over $2.7 billion of mostly state funds

Warner Bros Discovery plans to offer live sports on Max later this year

Customers will need to pay an added cost for sports on the platform starting next year, the report said, citing people familiar with the matter

Nothing unusual, says Jaishankar on Xi, Putin skipping G20 summit

China will be represented by Premier Li Qiang at the summit and Jaishankar noted that a country's position is obviously reflected by whoever is the representative

Nigeria gets $14 billion investment pledges from India, seeks economic pact

Skipperseil Ltd's founding Chairman Jitender Sachdeva and India's Bharti Enterprises each pledged $1.6 billion over four years to build power generation plants and $700 million in Nigeria

India bond yields end flat as all eyes on RBI's I-CRR review this week

The I-CRR could be reduced to 5%-8% in a phased manner from the current 10%, treasury officials have said

Dollar hits six-month peak after strong US data, weak yen draws warning

The greenback recovered against most currencies after the data, with the euro and sterling hitting three-month lows and the yen touching session troughs

Lupin to sell generic respiratory drugs on Mark Cuban's online pharmacy

The partnership with Cuban-backed Cost Plus Drugs is expected to bolster Lupin's U.S. business, which already accounts for nearly 33% of its 2023 revenue

Tata Consumer Products in talks to buy at least 51% stake in Haldiram's

Tatas are, however, not comfortable with the $10 billion valuation sought by the snack maker

Top palm oil buyers expects 26% increase in imports to record 10 MT

Higher purchases by the world's biggest importer of palm oil could help to lower inventories in top producing Indonesia and Malaysia and support benchmark futures

Ind-Swift Labs to sell pharma ingredients ops to Synthimed Labs for $198 mn

Ind-Swift Labs will sell its active pharmaceuticals ingredients (API) and contract research and manufacturing services (CRAMS) business

Billionaires Mukesh Ambani, Gautam Adani set to attend G20 summit dinner

Among the 500 businessmen invited are Tata Sons Chairman N Chandrasekaran, billionaire Kumar Mangalam Birla, Bharti Airtel founder-chairman Sunil Mittal

India seeks additional natural gas volumes to boost power generation

The power ministry is advising states to expedite commissioning of all new power plants and operate gas-fired plants at full capacity, the note said

Foreign investors rush into Indian stocks as locals lie low: Analysis

India is not alone in drawing investors who are disenchanted with China's markets and an economy limping after years of pandemic lockdowns

RBI may extend incremental cash reserve ratio with tweaks: Bankers

"The I-CRR is acting as an indirect rate hike and, at best, the RBI could lower the limit taking into consideration tax outflows," a senior treasury official at a private bank said

Qantas CEO to depart early as airline looks to rebuild reputation

Over a decade and a half Joyce faced regular criticism for cutting jobs, including a 2011 decision to ground the entire Qantas fleet over an industrial dispute

China to launch new $40 bln state fund to boost chip industry: Report

Its target of 300 billion yuan ($41 billion) outdoes similar funds in 2014 and 2019, which according to government reports, raised 138.7 billion yuan and 200 billion yuan respectively

Meta to drop 'Facebook News' tab in some European countries this year

Meta has started blocking news on its Facebook and Instagram platforms for all users in Canada in response to a new law requiring internet giants to pay news publishers