Moscow's most traded: China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow. https://trib.al/KAkqvKn
Double-digits: ByteDance’s revenue surged more than 30% to surpass $80 billion in 2022, matching the tally at archrival Tencent, a source says, citing a recent memo. https://trib.al/c2JKe1Q
Potential ruptures: Oil prices are straining ties between the US and Saudi Arabia at a time when the moorings of their alliance have weakened. Here's everything you need to know. https://trib.al/BN1gzvl
Double-digits: ByteDance’s revenue surged more than 30% to surpass $80 billion in 2022, matching the tally at archrival Tencent, a source says, citing a recent memo. https://trib.al/c2JKe1Q
Potential ruptures: Oil prices are straining ties between the US and Saudi Arabia at a time when the moorings of their alliance have weakened. Here's everything you need to know. https://trib.al/BN1gzvl
Oil shock: OPEC+'s supply cut sets the stage for other fuel producers to compete for deals with China, India and other Asian markets. About 70% of the cartel's oil was sold to the region last year. https://bloom.bg/3U8HmXf
Money move: A joint venture company under billionaire Gautam Adani's conglomerate is in talks for a $220 million loan, the group's first offshore borrowing since it was targeted by Hindenburg Research. https://bloom.bg/3m7VpA4
House hunt: The cost of renting homes in Bangalore, often referred to as India's Silicon Valley, has nearly doubled since last year, making it the nation's hottest residential market. https://bloom.bg/436IChZ
Money move: A joint venture company under billionaire Gautam Adani's conglomerate is in talks for a $220 million loan, the group's first offshore borrowing since it was targeted by Hindenburg Research. https://bloom.bg/3m7VpA4
House hunt: The cost of renting homes in Bangalore, often referred to as India's Silicon Valley, has nearly doubled since last year, making it the nation's hottest residential market. https://bloom.bg/436IChZ
Betting big: The Saudi Arabian government is betting $38 billion on the country’s potential to become the next hub for the video-game industry. https://trib.al/02mfUFI
AI chatbot dangers: Google’s Bard readily churns out content that supports well-known conspiracy theories, despite the company’s efforts on user safety. https://trib.al/IUQS7ut
Trump's arraignment: The former US president appeared in Manhattan criminal court where he pleaded not guilty to 34 felony counts related to an alleged hush-money scheme. Here are five takeaways. https://trib.al/YzUj4qd
AI chatbot dangers: Google’s Bard readily churns out content that supports well-known conspiracy theories, despite the company’s efforts on user safety. https://trib.al/IUQS7ut
Trump's arraignment: The former US president appeared in Manhattan criminal court where he pleaded not guilty to 34 felony counts related to an alleged hush-money scheme. Here are five takeaways. https://trib.al/YzUj4qd
Taking on China: India is muscling in on the increasingly lucrative business of space, taking advantage of the geopolitical isolation of China and Russia to pitch itself as a SpaceX alternative. https://bloom.bg/3ztSZih
Adani multibagger: GQG Partners Chief Investment Officer Rajiv Jain sees his $2 billion bet on Adani Group last month delivering a return in excess of 100%. https://bloom.bg/434IAXN
Dangerous drugs: India is the largest provider of generic medicines, producing 20% of the world’s supply but remains scandalously short on regulatory oversight. Bloomberg Opinion discusses the red flags in India's pharmaceutical ambitions. https://bloom.bg/3GjIKRc
Adani multibagger: GQG Partners Chief Investment Officer Rajiv Jain sees his $2 billion bet on Adani Group last month delivering a return in excess of 100%. https://bloom.bg/434IAXN
Dangerous drugs: India is the largest provider of generic medicines, producing 20% of the world’s supply but remains scandalously short on regulatory oversight. Bloomberg Opinion discusses the red flags in India's pharmaceutical ambitions. https://bloom.bg/3GjIKRc
Quantum networking: Amazon is teaming up with a unit of De Beers to grow artificial diamonds, betting that custom-made gems could could help revolutionize computer networks. https://trib.al/zIZV7P8
Shifting from China: Apple is laying the foundation to make iPhone's elsewhere, from the screws on up. https://trib.al/O8bEv4L
Video game acquisitions: Savvy Games Group, part of the Saudi government’s Public Investment Fund, has agreed to acquire game publisher Scopely for $4.9 billion. https://trib.al/k3psgZu
Shifting from China: Apple is laying the foundation to make iPhone's elsewhere, from the screws on up. https://trib.al/O8bEv4L
Video game acquisitions: Savvy Games Group, part of the Saudi government’s Public Investment Fund, has agreed to acquire game publisher Scopely for $4.9 billion. https://trib.al/k3psgZu
Surprise stance: The Reserve Bank of India voted unanimously to hold its key interest rate at 6.5%, pledging to act if needed. bloom.bg/3KmAwcy
India push: Apple is set to open its first official retail store in India soon, a landmark move for the iPhone maker which is placing big bets on the South Asian nation for everything from manufacturing to sales. https://bloom.bg/3Mh7WvC
Chip losses: Samsung is heading for its lowest profit since the global financial crisis, if not longer, due to a sharp slowdown in tech demand that triggered losses at its semiconductor division. https://bloom.bg/3Mi9xBp
India push: Apple is set to open its first official retail store in India soon, a landmark move for the iPhone maker which is placing big bets on the South Asian nation for everything from manufacturing to sales. https://bloom.bg/3Mh7WvC
Chip losses: Samsung is heading for its lowest profit since the global financial crisis, if not longer, due to a sharp slowdown in tech demand that triggered losses at its semiconductor division. https://bloom.bg/3Mi9xBp
Layoffs limbo: Google, Amazon and other US big tech companies are now learning how difficult it is to reduce headcount in Europe. https://trib.al/61As6lu
China's restraint: Xi Jinping has many reasons to hold fire on Taiwan for the moment, even if he plans a more aggressive military response in the coming days. https://trib.al/cfX3loU
Beating roulette: For decades, casinos scoffed as mathematicians and physicists devised elaborate systems to take down the house. Then an unassuming Croatian’s winning strategy forever changed the game. https://trib.al/3pF9eGU
China's restraint: Xi Jinping has many reasons to hold fire on Taiwan for the moment, even if he plans a more aggressive military response in the coming days. https://trib.al/cfX3loU
Beating roulette: For decades, casinos scoffed as mathematicians and physicists devised elaborate systems to take down the house. Then an unassuming Croatian’s winning strategy forever changed the game. https://trib.al/3pF9eGU
World's factory: India is seeking to be more involved in global supply chains as companies shift away from China. http://bloom.bg/3GyteBe
Support call: Ukraine wants India to play a bigger role in resolving the war triggered by Russia’s invasion. http://bloom.bg/43m98E0
Adani bulls: Retail investors in India were buyers in most Adani Group companies after a selloff sparked by Hindenburg's allegations. http://bloom.bg/3mle1N3
Support call: Ukraine wants India to play a bigger role in resolving the war triggered by Russia’s invasion. http://bloom.bg/43m98E0
Adani bulls: Retail investors in India were buyers in most Adani Group companies after a selloff sparked by Hindenburg's allegations. http://bloom.bg/3mle1N3
US-China tensions: Brazil's President Luiz Inacio Lula da Silva’s trip to China will include a tour of Huawei’s innovation center in Shanghai. https://trib.al/C8sD9fJ
AI regulation: China will require a security review of some AI services like ChatGPT before they’re allowed to operate. https://trib.al/A2Pv7lR
Leaked papers: Defense Secretary Lloyd Austin says the US won’t stop until it finds out out how a trove of classified documents on Ukraine, Israel and other nations appeared online. https://trib.al/heqo1nA
AI regulation: China will require a security review of some AI services like ChatGPT before they’re allowed to operate. https://trib.al/A2Pv7lR
Leaked papers: Defense Secretary Lloyd Austin says the US won’t stop until it finds out out how a trove of classified documents on Ukraine, Israel and other nations appeared online. https://trib.al/heqo1nA
Securing supply: India’s sole rare-earths producer IREL wants to boost its mining capacity by 400% in the coming decade to help the country lock in supplies of key minerals for its clean-energy transition. http://bloom.bg/3zTh962
Return to market: UBS is considering retaining Credit Suisse’s private banking unit in India, a move that would give the Swiss lender a strong foothold among the growing ranks of Indian billionaires. http://bloom.bg/41l3d05
Pivot to India: Apple CEO Tim Cook has scheduled a trip to open the iPhone maker’s first stores in Mumbai and New Delhi next week. http://bloom.bg/3MDYYZG
Return to market: UBS is considering retaining Credit Suisse’s private banking unit in India, a move that would give the Swiss lender a strong foothold among the growing ranks of Indian billionaires. http://bloom.bg/41l3d05
Pivot to India: Apple CEO Tim Cook has scheduled a trip to open the iPhone maker’s first stores in Mumbai and New Delhi next week. http://bloom.bg/3MDYYZG
Slumdog billionaire: Gautam Adani wants to modernize Mumbai’s Dharavi slum and turn the land into some of the world’s most expensive urban real estate. But first he needs to resettle a million people. http://bloom.bg/3MMv19w
Made in India: Apple tripled its iPhone production in India last year, with the country accounting for nearly 7% of output, in an accelerating shift from China. http://bloom.bg/402MQ7y
Milk run: The soaring cost of milk — up 12% from a year ago in India — risks becoming a political problem for Modi’s government ahead of national elections next summer. http://bloom.bg/415JWQy
Made in India: Apple tripled its iPhone production in India last year, with the country accounting for nearly 7% of output, in an accelerating shift from China. http://bloom.bg/402MQ7y
Milk run: The soaring cost of milk — up 12% from a year ago in India — risks becoming a political problem for Modi’s government ahead of national elections next summer. http://bloom.bg/415JWQy
Wronfully detained: Russian President Vladimir Putin personally approved the arrest of a US reporter on espionage charges for the first time since the Cold War. https://trib.al/elGNBnG
Top of the charts: For two straight weeks last month, a Korean drama series called The Glory was the most-watched show on Netflix. The show about bullying is having a profound influence at home. https://trib.al/843C9D3
The world’s biggest startup: ByteDance is moving into an iconic Hong Kong office tower as revenue from TikTok and its other businesses surge. https://trib.al/2sesJOR
Top of the charts: For two straight weeks last month, a Korean drama series called The Glory was the most-watched show on Netflix. The show about bullying is having a profound influence at home. https://trib.al/843C9D3
The world’s biggest startup: ByteDance is moving into an iconic Hong Kong office tower as revenue from TikTok and its other businesses surge. https://trib.al/2sesJOR
Discounted oil: India will explore importing Russian crude oil near or past the price cap imposed by the G-7 as it navigates external risks it sees as the biggest economic threat. https://bloom.bg/43Fi3QW
Positive signs: China is sending encouraging signals about breaking a deadlock among global creditors over how to manage poor-country debt distress, India's finance minister says. https://bloom.bg/3MO0RCV
Demand weakens: Signs of an economic slowdown are flashing in the global diesel market as trucking and container port activity both inch lower in China. https://bloom.bg/3A6Tejz
Positive signs: China is sending encouraging signals about breaking a deadlock among global creditors over how to manage poor-country debt distress, India's finance minister says. https://bloom.bg/3MO0RCV
Demand weakens: Signs of an economic slowdown are flashing in the global diesel market as trucking and container port activity both inch lower in China. https://bloom.bg/3A6Tejz
Worthless degrees: Students around the globe are increasingly questioning the returns on education, and nowhere is the problem more complex than India. https://bloom.bg/3mPpwwe
Adani fallout: Here's how the $120 billion Adani scandal shook India. What happens now could alter the future of India, and affect the prospects of Prime Minister Modi. https://bloom.bg/3UHUSS6
Landmark hearings: India's top court is set to begin hearing arguments for granting legal recognition to same-sex marriages. https://bloom.bg/418fR2V
Adani fallout: Here's how the $120 billion Adani scandal shook India. What happens now could alter the future of India, and affect the prospects of Prime Minister Modi. https://bloom.bg/3UHUSS6
Landmark hearings: India's top court is set to begin hearing arguments for granting legal recognition to same-sex marriages. https://bloom.bg/418fR2V
Burning up: Millions of people risk being exposed to heat exhaustion or deadly heat stroke as temperatures soar across India this week, also increasing the risk of power outages. http://bloom.bg/40AiWb7
Mortgage terms double: India’s sharp rise in interest rates has left many homeowners in an unenviable position: Having a mortgage they’ll still be paying decades after they should have retired. http://bloom.bg/40f1kRO
Whoops: A currency conversion blunder allowed some eagle-eyed travelers to snap up $10,000 business-class tickets for just a few hundred dollars. http://bloom.bg/40AHSPL
Mortgage terms double: India’s sharp rise in interest rates has left many homeowners in an unenviable position: Having a mortgage they’ll still be paying decades after they should have retired. http://bloom.bg/40f1kRO
Whoops: A currency conversion blunder allowed some eagle-eyed travelers to snap up $10,000 business-class tickets for just a few hundred dollars. http://bloom.bg/40AHSPL
BREAKING: India has overtaken China as the world’s most populous nation, according to UN data.
Asia’s third-largest economy is now home to nearly a fifth of humanity — more than the number of people in Europe or Africa or the Americas. While this is also true for China for now, that’s expected to change as India’s population, now 1.428 billion, is forecast to touch 1.668 billion by 2050. Here’s what this seismic shift means for the world: https://bloom.bg/3LeeMkJ
Asia’s third-largest economy is now home to nearly a fifth of humanity — more than the number of people in Europe or Africa or the Americas. While this is also true for China for now, that’s expected to change as India’s population, now 1.428 billion, is forecast to touch 1.668 billion by 2050. Here’s what this seismic shift means for the world: https://bloom.bg/3LeeMkJ
New investments: Apple CEO Tim Cook met with Indian Prime Minister Narendra Modi, renewing the iPhone maker’s commitment to invest in the region. https://trib.al/PIs5XGc
The AI dilemma: If ChatGPT's technology replaces software engineers, India would be impacted the most. https://trib.al/HuJCeeo
Capital gains tax: India is preparing an overhaul of its direct tax laws to replace a complicated matrix of rules and help Prime Minister Modi reduce widening income inequality if he returns to power next year. https://trib.al/vyEBfDH
The AI dilemma: If ChatGPT's technology replaces software engineers, India would be impacted the most. https://trib.al/HuJCeeo
Capital gains tax: India is preparing an overhaul of its direct tax laws to replace a complicated matrix of rules and help Prime Minister Modi reduce widening income inequality if he returns to power next year. https://trib.al/vyEBfDH
Staying away: Money managers in India have continued to trim holdings of Adani Group's stocks, suggesting concerns remain even after the worst of the rout seems to have passed. https://bloom.bg/3N0dlrq
Endangering growth: India's heat waves are making almost all of its people more vulnerable to illness and hunger, holding back development in the most populous nation. https://bloom.bg/43R6Mgz
Overtaking China: The label of world's most populous country in the world won't be enough for India to take over as the world's biggest growth driver. https://bloom.bg/40ndtUO
Endangering growth: India's heat waves are making almost all of its people more vulnerable to illness and hunger, holding back development in the most populous nation. https://bloom.bg/43R6Mgz
Overtaking China: The label of world's most populous country in the world won't be enough for India to take over as the world's biggest growth driver. https://bloom.bg/40ndtUO
A court in India has denied Rahul Gandhi’s appeal to suspend his defamation conviction, a setback to the opposition leader who has been sentenced to two years in jail and disqualified from parliament over the charge.
The interim order means Gandhi may not be able to contest national elections due next summer unless a higher court rules in his favor.
Gandhi can appeal Thursday’s order in the high court. He will also stay out of jail as an earlier court order said his prison term is suspended until it reaches a final decision on his appeal against the conviction.
More details here: http://bloom.bg/3mHHSzz
The interim order means Gandhi may not be able to contest national elections due next summer unless a higher court rules in his favor.
Gandhi can appeal Thursday’s order in the high court. He will also stay out of jail as an earlier court order said his prison term is suspended until it reaches a final decision on his appeal against the conviction.
More details here: http://bloom.bg/3mHHSzz
LIVE NOW: 🇮🇳 Join our Twitter Space discussion on India overtaking China's population and what that means on the link here: http://bloom.bg/41LpK6t
Ponzi apps: India's finance minister warned about the rise of 'fin-fluencers' as the government looks to clamp down on ponzi applications promising huge returns. https://bloom.bg/3AnJKQZ
Regaining confidence: Adani Group has started it's first bond buyback since it was targeted by short-seller Hindenburg. https://bloom.bg/3Aqkf1m
New awakening: Bitcoin's rebound is just the start of a rally that will take it past $50,000 next year, says crypto analysts, as it's set to go through 'halving' that curbs supply of new tokens. https://bloom.bg/3AGRHRH
Regaining confidence: Adani Group has started it's first bond buyback since it was targeted by short-seller Hindenburg. https://bloom.bg/3Aqkf1m
New awakening: Bitcoin's rebound is just the start of a rally that will take it past $50,000 next year, says crypto analysts, as it's set to go through 'halving' that curbs supply of new tokens. https://bloom.bg/3AGRHRH