Indian policymakers are almost alone, alongside the United States, in seeking a hard and multi-sectoral global decoupling from China in the expectation that it will boost their economies, observes Mihir S Sharma.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
Adani Group on Thursday said it has formed a 50:50 joint venture with Japanese conglomerate Kowa Group for sale of green hydrogen in Japan, Taiwan and Hawaii markets. Billionaire Gautam Adani-led conglomerate is investing up to $50 billion over the next 10 years in setting up a fully integrated green hydrogen ecosystem in India. This includes the production of 1 million tonne of green hydrogen in the initial phase which will be ramped up to 3 million tonne later.
72 per cent of the revenue of Indian firms (India Inc) is derived from the domestic / home market - the sixth highest in percentage terms in the emerging market (EM) and the Asian region, said a recent report by Morgan Stanley. The balance, according to the report titled 'Global Exposure Guide 2021' co-authored by analysts led by Jonathan F Garner, their chief Asia and emerging market strategist, is split between the developed markets (DMs) and other EMs. The report is based on an analysis of 3,300 companies globally that have revenue exposure in 17 different regions.
The S&P BSE Sensex dropped 207 points to end at 25,230.
Disney Star is mulling legal actions against Zee Entertainment for backing out from a $1.4 billion sub-licensing agreement for TV broadcast of international cricket matches in India, according to industry sources. This could brew another legal trouble for Zee Entertainment Enterprises Ltd (ZEEL), which is already facing an arbitration plea by Sony Group at the Singapore International Arbitration Centre, claiming $90 million for breach of conditions of their merger agreement. Disney Star, an Indian subsidiary of media conglomerate The Walt Disney Company, is working on its strategy over the development, said industry sources.
'We are going to have hybrid cars, which, as far as I know, none of our competition is working on, and this includes ethanol.'
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Sony Picture Network India (SPNI) management is committed to long-term growth in India and the company will actively explore new organic and inorganic possibilities to strengthen its presence in the country, company managing director and CEO, NP Singh told employees. In a letter, two-days after the calling off of the $10 billion merger deal with Zee Entertainment, he asked employees to focus on current projects, with an immediate goal to unleash the company's full potential, continuing to craft content that not only engages audiences but also boosts subscriber growth and revenues. "As we close the chapter on our proposed merger with ZEEL (Zee Entertainment Enterprises Ltd), I want to take a moment to talk to you - not just as your CEO but as someone who has been on this journey with you.
The exclusive club that dominates the global semiconductor fab scenario is about to get a new member. Taiwan, South Korea, and China control nearly 70 per cent of the global capacity. SEMI, the global industry body for semiconductor and electronics design and manufacturing, projects all fabs collectively will churn out 30 million wafers a month this year.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
The Budget session of the Parliament is set to begin tomorrow. This will follow the Railway Budget on February 26, Economic Survey of India on February 27 and the Union Budget 2013-14 on February 28, 2013.
Markets opened marginally higher helped by a rebound in index heavyweights
Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
Japan today imports 500,000 tons of coffee annually. Barely 60 years earlier, it was a market that hardly sold a cup! Ad guru Sandeep Goyal reveals how Nestle won the Coffee versus Tea Battle.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
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With its Mitsubishi JV beginning operations this quarter, analysts expect meaningful revenue addition
Japanese electronic companies Toshiba and Fujitsu will merge their mobile phone businesses in October this year.
Custodian banks are selling dollars for their foreign fund clients.
The company has capacity to manufacture 310,000 units annually.
Among Sensex stocks, Maruti rose the most, followed by Tech Mahindra, Mahindra & Mahindra and Asian Paints. Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
Pegged at $21 billion in terms of industry revenue in 2009, the Australian legal market is projected to grow by about 1 per cent year on year.
When the bike lands in India, expect it to be priced at around Rs 2 lakh. A launch is expected early next year.
Gold has dulled a lot lately but investors could still take a shine to it.
The merger, in which TCS will hold 51 per cent stake and Mitsubishi 49 per cent, will create a new IT services company of significant scale in the Japanese market with annual turnover of over $600 million.
Japan, the fourth largest investor in the country, on Wednesday expressed keenness to increase its trade and investment ties with India.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
Imaad Shah's Tuesday's Women, Haoban Paban Kumar's Iron Women of Manipur, Shivam Singh Rajput's Ladakh 470 and Samman Roy's The Exile are among 10 titles to watch out for at the 17th edition of the Film Bazaar.
Metal shares were the top gainers with Hindalco up over 5%.
Benchmarked against VW polo, the car would be launched in India early next year.
CarToq reports that Maruti will carry out that facelift for the Swift and Swift Dzire in the first quarter of the next year.
FPIs sold shares worth a net Rs 1236.95 crore on Friday.
Global credit rating agency Standard & Poor's has indicated that Indian stock markets are overvalued currently, recommending underweighing of the markets next year.
India is among the top three emerging markets in the wellness economy.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
'Manipur is critical to India's Look East policy.' 'It's a strategic state. In the Second World War, the Japanese entered Manipur through Burma.' 'China can use the same direction to approach India.'
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
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