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OPEC+ unlikely to extend oil supply cuts at upcoming June 4 meeting

As the economic outlook worsened, several members of OPEC+ in April pledged voluntary cuts starting from May and to continue to the end of the year

India clocks robust SUV sales in May, two-wheeler volumes rise

However, SUV sales have been limited to a certain extent due to supply issues for parts, particularly chips

JPMorgan hikes India's FY24 GDP forecast to 5.5%; warns of global slowdown

The economy also grew at a better-than-expected 7.2% for fiscal 2023

Lanka central bank unexpectedly cuts rates by 250 bps as inflation eases

The index peaked at a 69.8% year-on-year surge in September last year. The national inflation rate was at 33.6% in April, easing from 73.7% in September

China's factory activity swings to surprise growth in May: Caixin PMI

The manufacturing subindexes showed factory output rose at the fastest clip in 11 months while new orders including new exports expanded in May.

Investors relieved as US House passes debt ceiling Bill; Senate in focus

Asian markets were trading higher when the bill cleared the house and held their gains. Investors nudged S&P 500 futures from slightly negative back to flat. Treasury yields rose marginally

US set to allow GE to make engines in India for New Delhi's military jets

A deal finalizing the joint production of the engines is expected to be inked and announced by the time President Joe Biden hosts Indian PM Narendra Modi for an official state visit on June 22

ISMC's semiconductor facility plan in India stalled after Tower-Intel deal

A second mega $19.5 billion plan to build chips locally by a joint venture between India's Vedanta and Taiwan's Foxconn is also proceeding slowly

European Union for greater transparency for default swaps on 8 banks

US banks saw total deposits decline by a record 2.5 per cent in the first quarter of 2023

GE eyes India boost as foreign travel spurs demand for bigger planes

Airlines in India, a country of 1.4 billion people, still have just 50 widebody planes deployed for long-haul travel, something GE sees changing as more Indians splurge on travel

Sugar mills export entire quota of 6.1 mn tonnes, cash in on high prices

Mills were getting more than Rs 50,000 ($604.6) per tonne from the overseas sale against the local price of 36,500 rupees, dealers said

Bengaluru may need Rs 2,800 cr to fix drainage, avoid flooding: Report

The report projected a jump in population to 18 million by 2031 from an estimated 12.3 mln in 2022. The area within city limits more than tripled in 2011 to 741 square kilometres from 1995 levels

Nepal PM Dahal to seek energy, new air route deals on India visit

The four-day visit is Dahal's first foreign trip since he was elected prime minister again in December. He has visited India twice before in two previous tenures as prime minister dating back to 2008

Xiaomi partners with Dixon Technologies to make mobile phones in India

India has been encouraging global companies to invest more in local manufacturing as a part of its efforts to become a powerhouse in the global electronics supply chain

RBI Dy Guv calls for better risk management, governance at banks

The RBI has been urging banks to adopt effective risk management practices and strengthen their governance standards to avoid financial instability

China's factory activity falls faster than expected on weak demand

China's economy is emerging from three years of pandemic lockdowns, but the recovery has been uneven with services spending outperforming activity in the factory, property and export-oriented sectors

Despite world-beating growth, India's lack of jobs threatens its young

Economists say more and more job-seekers, especially the young, are looking for low-paid casual work or falling back on unreliable self-employment, even though the broader Indian economy is growing

Indian economy likely gained pace in March qtr, data to be released today

During the March quarter, high frequency indicators showed that a rise in urban incomes had boosted sales of expensive cars, Apple mobile phones, and air travel

Adani Ports fourth-quarter profit takes hit from Myanmar port sale

Adani Ports had earlier this month said it sold its sanction-hit Myanmar port for $30 million, significantly lower than its investment in the project

Indian regulators step up scrutiny ahead of FATF review in Nov: Report

The Financial Action Task Force, an inter-governmental organisation to combat money laundering, is due to conduct an onsite review of India's regulations and supervision in November