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Billionaire and Twitter CEO Elon Musk hasn't tweeted during his China visit, marking his longest hiatus from the platform since buying and taking it private. Social media sites, including Twitter and Facebook, are banned in China. Musk's silence on the site has some users wondering if he was unable to set up a VPN or felt it was inappropriate. During his visit, he met with Chinese government officials and local business leaders and said Tesla opposed decoupling from China. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EQ1W8lg

The cheapest 24-hour advance purchase ticket to Leh from Mumbai is Rs 22,500, and Rs 20,000 to Kochi. The conventionally expensive eastern and north-eastern destinations are cheaper, with Mumbai-Kolkata at Rs 7,200, Bagdogra at Rs 8,300, and so on. The fare from Mumbai to Delhi is an incredible low Rs 4,700, One-day advance fares are expected to be pricey, but what stands out is the quantum jump for non-stop flights on certain routes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/T6g8hkE

The Reserve Bank of India (RBI) is expected to keep interest rates on hold during its June meeting, according to Bloomberg survey results, as they focus on growth while inflation continues to moderate. The economists surveyed predict a 25 basis point cut in Q1 of 2024 as India's retail inflation dips below the RBI's upper limit of 6%, forecasting 5% for the current fiscal year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/X4r7pSH

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Akasa Air: India's new low cost carrier wants to offer an "affordable" alternative to luxury bus and AC train travellers. Watch this week's TOI Business Bytes to know what Akasa Air CEO Vinay Dube has to say. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BDyrUR1

India's government is expected to refuse vital funding for Anil Agarwal's Vedanta Resources' semiconductor venture with Taiwan's Hon Hai Precision Industry. Vedanta and Hon Hai applied for incentives for the production of 28-nanometer chips, which potentially could have been worth billions of dollars, but India's government ruled the joint venture had not met the criteria set. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CdfwV1Y

Tata Consultancy Services (TCS) has started sending memos to employees who are not completing at least 12 days of work from the office in a month. The company has said in the memo that disciplinary proceedings will be initiated if they do not adhere to the roster. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KPDz9ks

Yes Bank MD & CEO Prashant Kumar said the last three years have been transformative for the institution and that it was focused on reinvigorating the brand. "Yes Bank vows to be responsive, agile, transparent, innovative, and uphold high integrity in all aspects, aligned with its corporate social responsibility (CSR) ethos," said Kumar. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BpesZd9

Gautam Adani's Adani Transmission faces a funding gap that may require it to infuse as much as $700m by March 2026 to fulfill existing project commitments, according to India's unit of Fitch Ratings. Thirteen projects are currently underway, but many face delays or cost overruns, while others have seen adverse weather, pandemic-era disruptions or legal wrangles. This funding is mission-critical for Adani and the government of India's Infrastructure plans. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TORezyZ

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The city of Wuhan, China, has publicly named 259 entities with outstanding debts in its official government newspaper, the Yangtze River Daily, totalling over $42m. The move, which is rare for China, has highlighted the ongoing fiscal pressures being experienced by local Chinese governments. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/q6YMZ9S

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Banks invest around a fifth of their deposits in government bonds. However, they can avoid making MTM provisions on the bonds they classify as 'held to maturity' (HTM). However, banks have to provide for a fall in the market value of bonds in their trading or 'available for sale' portfolio. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CtRd8fW

Sources said there is a tussle between the partners over the share holding in the joint venture of these two firms. This is the main reason behind the TMH not yet depositing the mandatory BG and this would attract penalty charges for the Russian company, they added. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/w4XMlJt

In the all cash deal, Sun Pharma will acquire the shares at a price of US $38 per ordinary share, which will be payable in full at the close of the proposed transaction, the company said in a BSE filing on Saturday. At present, Sun holds 78.48% stake in Taro. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Q4zl0C1

China's recent efforts to moderate malicious online content has resulted in action taken against over 1 million social media posts and accounts. The crackdown, which began in March, prompted the permanent ban of 66,000 accounts and the censure of 928,000 others, along with the handling of 1.41 million online posts. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3hoyDxu

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Lloyd’s Register, a maritime services company, has informed Gatik Ship Management, a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3. This is the latest setback for Gatik, which has also been forced to find new flags for 36 of its ships after being deflagged by the St. Kitts & Nevis International Ship Registry. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4NEyYgM

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Wall Street's major indices saw gains on Thursday, thanks to a promising sales forecast by chipmaker Nvidia. Stocks of other semiconductor manufacturers also saw significant increases in value, following Nvidia's prediction that customers were scrambling to incorporate AI technology into their products and services. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7b2jNks

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India's economy could expand by 6.5% this fiscal year thanks to strong credit demand, falling crude oil prices, and increased construction activity, according to V Anantha Nageswaran, a top advisor to the Indian finance ministry. Despite economic risks such as slower global growth and weather-related issues, India's economy is performing well due to supportive factors, making it "tick all the right boxes," Nageswaran said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/43HAUSZ

Credit rating agency Fitch has put the US' AAA credit rating on negative watch, indicating possible downgrade if lawmakers fail to raise the amount that Treasury can borrow. This could occur as soon as next week with the proposed X-date, June 1st. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JDwWcdO

US stocks fell, with the S&P 500 and the Dow Jones Industrial Average both down by 0.73% and 0.77%, respectively. The Nasdaq Composite dropped 0.61%. Discussions between Republicans and the White House over raising the debt ceiling have not yet concluded, triggering investor anxiety as the June 1 deadline approaches. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dFtaoG5

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Indian mining company Vedanta Group, which is struggling with heavy debt, has secured a five-year loan of about $850m from JPMorgan Chase and Oaktree. The group, owned by billionaire Anil Agarwal, has a $500m bond due imminently and also needs to pay off approximately $2bn of US-currency bonds by 2024. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7NKioaJ

A recent Goldman Sachs report said generative AI could boost economic output by $7 trillion globally over the next ten years. US investment management firm Ark Invest said AI software could generate $14 trillion in revenue by 2030. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6uzQyw9

The S&P 500 benchmark index declined 1.12% to finish at 4,145.58 points, and the Nasdaq Composite fell 1.26% while the Dow Jones Industrial Average slid 0.69% to 33,055.51 points. Meanwhile, Federal Reserve minutes from a meeting in early May are due on Wednesday, which may determine interest rate changes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TFza7AS

The total stock of wheat with the Food Corporation of India (FCI) has touched 346 lakh tonne after the procurement of the fresh winter crop crossed 262 lakh tonne on Tuesday. This will put the government in a comfortable position to meet the statutory requirement and also the option to sell around 90 lakh tonne of wheat in the open market to keep check on prices. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/V9GrHBN

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US stocks ended mixed on Monday ahead of negotiations to avoid a US debt default. President Biden returned to Washington over the weekend ahead of the June 1 deadline for Congress to approve more borrowing. The Dow Jones lost 0.4%, the S&P 500 was flat, and the Nasdaq Composite gained 0.5%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3ku0iLJ

Banks are gearing up to manage the reverse flow of Rs 2,000 banknotes from Tuesday. The Reserve Bank of India (RBI) estimates that most of the Rs 3. 6 lakh crore of this high-denomination banknote in circulation will be turned in over the next four months. The RBI has asked banks to maintain separate daily records of the value of notes submitted for exchange and those deposited. The central bank said it would call for this data when required. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FvmSwy6

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Facebook owner, Meta Platforms Inc, has been fined a record €1.2bn ($1.3bn) by the European Union (EU) over concerns it failed to protect personal data from the US. The Irish Data Protection Commission criticised Facebook for not addressing “the risks to the fundamental rights and freedoms” of users whose data was transferred across the Atlantic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Frx8mET

The RBI chief said that Rs 2,000 currency notes accounted for just 10.8% of the total currency in circulation, and emphasised that the impact of the move on the economy will be "very very marginal" since the country’s currency management system is highly robust. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6mF4zKM

As much as 1 trillion rupees ($12.1 billion) may be added to India’s financial system as authorities remove 2,000 rupee notes from circulation, according to QuantEco Research and Kotak Mahindra Bank Ltd. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VGJL3sn

Key indices of the domestic equities market opened higher on Monday morning as buying in IT stocks took place, defying weak global cues prevailing across the world. BSE 30-share Sensex went up 156 points to 61,909.79 and NSE Nifty 50 surged 69 points to 18,272.60 in morning trade on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Nud8BeJ