Page 683 - Reuters

Four major western banks cut China's 2023 GDP forecast as recovery falters

UBS, Standard Chartered, Bank of America (BoA) and JPMorgan now expect China's GDP growth to be between 5.2% and 5.7% this year, down from an earlier range of 5.7% to 6.3%

Merchandise import jump in May signals stable local economy: Economists

Merchandise imports advanced 14.5% over the previous month to $57.1 billion, while exports inched up 0.7% to $35 billion

Singapore Airlines denies media report on raising stake in Air India

Singapore Airlines said it has not raised its stake in Air India from the 25.1% which it secured as part of the Tata Group's Vistara merger to create a bigger full-service India's national carrier

GAIL India issues swap tender for 12 LNG cargoes in 2024, say reports

GAIL (India) Ltd has issued a swap tender seeking 12 cargoes of liquefied natural gas (LNG) for loading in the US in exchange for 12 cargoes for delivery into India in 2024, two industry sources said

Yen falls after BOJ stands pat; hawkish ECB and soft US data dent dollar

The decision by the BOJ to keep its short-term interest rate target at -0.1% and its 10-year bond yield around 0% was widely expected

Nissan operations chief Gupta, once seen as CEO candidate, to leave company

Nissan plans to announce a new executive line-up on June 27, coinciding with his departure, it said in a statement

India seals $3 billion drone deal with US ahead of PM Modi's visit

US National Security Advisor Jake Sullivan finished his two-day visit to New Delhi on Wednesday, meeting his Indian counterpart Ajit Doval, Foreign Minister S Jaishankar and Modi

CoinEx accepts New York ban, to pay $1.8 million to resolve lawsuit

The payment includes $1.17 million of refunds to 4,691 investors, which may be reduced if they withdraw crypto assets during a specified 90-day period, plus a $626,000 fine

EXIM Bank plans to step up funding to Indian firms eyeing African markets

Amid rising competition from China, Indian Prime Minister Narendra Modi has stepped up efforts to strengthen ties with African nations via aid for infrastructure projects

Govt plans to ask lawyers to report clients' dubious transactions

The authorities believe the plan will help in faster recognition of dubious transactions involving shell companies and money laundering

BofA expects Fed to deliver 2 more hikes, JPM adds July hike expectation

BofA Global Research now expects two more quarter percentage point interest rate hikes from the U.S. Federal Reserve this year

Corporate affairs ministry orders investigation into Hero MotoCorp

Shares of Hero were down as much as 4.2% in Thursday afternoon trade

Still-hawkish Fed Reserve pauses rate tightening after 10 straight hikes

"The Fed is calling for a more resilient economy this year and a smaller rise in unemployment"

Flipkart, PhonePe could be $100 bn businesses in India, says Walmart

Flipkart was valued at more than $40 billion in 2022 and counts itself among India's most valuable startups

Federal Reserve holds rates steady, sees two small hikes by end of year

Further rate increases would take into account cumulative tightening of monetary policy, lags with which policy affects economic activity, inflation, and economic and financial developments, it said

Indian Oil Corp to set up aviation fuel plant with LanzaJet in Haryana

The company is looking at an investment of about 23 billion rupees ($280.1 million), S.M. Vaidya said on the sidelines of an industry event in New Delhi

Tata Steel inks deal to cut carbon emissions with Germany's SMS group

The objective of the demonstration will be to reduce carbon dioxide emissions by more than 50% from the blast furnace's baseline operation, it added

Vodafone, CK Hutchison's $19-billion merger to create UK's largest telco

Vodafone, UK's third-biggest operator, will have an option to buy-out the Hong Kong-based conglomerate three years after completion, if it agrees

US PE firm Bain Capital plans to sell $267 mn stake in Axis Bank: Report

The stake sale would likely be at an offer price range of 964.00 rupees to 977.70 rupees per share, the report added

Belarus starts taking delivery of Russian tactical nuclear weapons

Deployment is Moscow's first move of such warheads - shorter-range less powerful nuclear weapons that could potentially be used on the battlefield - outside Russia since the fall of the Soviet Union