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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's domestic travel is 'way above' pre-Covid levels: Indian Hotels CompanyPuneet Chhatwal, CEO and managing director of Indian Hotels Company, discusses the company's business outlook.
Persons: Chhatwal Organizations: Indian Hotels, Indian Hotels Company
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPGIM India Mutual Fund discusses India's inclusion in the JPMorgan Emerging Markets Bond indexPuneet Pal, head of fixed income at PGIM India Mutual Fund, discusses India's inclusion in the JPMorgan Emerging Markets Bond index.
Persons: Pal Organizations: India Mutual Fund, JPMorgan Emerging, PGIM India Mutual Fund
India is set to see billions in inflows into the country's rupee-denominated government debt market, as state bonds make their debut on JPMorgan's emerging market index on Friday. This is reportedly the first time Indian government bonds have been included in a global index. India has seen foreign inflows to the tune of about $10 billion into its bond market over the past nine months since the announcement, Puneet Pal, head of fixed income at PGIM India Mutual Fund, told CNBC "Street Signs Asia." Last September, JPMorgan said the inclusion of Indian bonds in its Government Bond Index-Emerging Markets will be staggered over 10 months, starting from a 1% weightage in June to a maximum 10% in April next year. Pal said that over the medium- to long-term, the inclusion of Indian government bonds will have a positive impact across the bond markets.
Persons: Puneet Pal, Deepak Agrawal, Pal Organizations: PGIM India Mutual Fund, CNBC, JPMorgan, Government, Kotak Mutual Fund Locations: India
India has undergone a massive infrastructure push and has made significant strides in connecting and modernizing its highways, railways and airports. He's going to double down on that," said Samir Kapadia, CEO of India Index and managing principal at Vogel Group. "Along with creating physical infrastructure, India needs to remain steadfast on the structural reforms ... Increase foreign investmentsFrom veteran emerging markets investor Mark Mobius to global strategist David Roche, market experts remain bullish on India. Foreign direct investments into the country needs to however pick up pace to further drive economic growth and development, analysts told CNBC.
Persons: Vikram Singh, Narendra Modi, Modi, Reema Bhattacharya, Verisk, Modi's, he's, Samir Kapadia, Nirmala Sitharaman, Santanu Sengupta, Goldman Sachs, Sengupta, Richard Rossow, Kapadia, Sumedha Gupta, Vivek Prasad, Prasad, Mark Mobius, David Roche Organizations: Bharatiya Janata Party, BJP, Infrastructure, India Index, Vogel Group, Nurphoto, CNBC, Center for Strategic, International Studies, Padget Electronics, Dixon Technologies, Bloomberg, Getty, Research, India Electronics, Semiconductor Association, Economist Intelligence Unit, Centre, Monitoring, National Stock Exchange of, World Federation of Exchanges Locations: India, Asia, China, Mumbai, Noida, PwC India, National Stock Exchange of India
You could have invested a lot of money in AI chip startups several years ago. "Us going up against them is insane," said Thomas Sohmers, CEO of Positron AI, a chip startup that emerged from stealth a few months ago. "The model of AI chip startups needing to raise 10s to 100s of millions of dollars before they actually test product market fit is insane," he added. TigrisOpenAI's Altman may also be working on an AI chip startup of his own. So it stands to reason that Masa has been trying to raise money for an AI chip startup.
Persons: , Graphcore, Thomas Sohmers, Nvidia Thomas Sohmers, Sohmers, Groq, Googlers, Puneet Kumar, Mark Hayter, Rivos, Andrew de los Reyes, Gavin Uberti, Chris Zhu, Nvidia's, OpenAI's Sam Altman, OpenAI's Altman, Altman, Masa, Softbank, Son Organizations: Service, Microsoft, Samsung, Business, Nvidia, MediaNews, Boston Herald, Getty, MIT, Google, Chrome, Matrix Capital, Intel, Harvard, Bloomberg News, Bloomberg Locations: Silicon Valley, Swiss, Groq, GroqWare, WeWork
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIHCL says it's 'well positioned' to achieve 20 hotel openings this yearPuneet Chhatwal, managing director and CEO of IHCL, discusses the company's results and pipeline of hotels.
Persons: IHCL, it's, Chhatwal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC delays decision on ARK 21Shares spot bitcoin ETF: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Puneet Singhvi of Citi discusses how institutions are making use of crypto and blockchain technology in their portfolios and businesses.
Persons: explainers Organizations: SEC, CNBC Crypto, CNBC, Citi
Analysts point to receding recession concerns and the prospect of a less aggressive policy stance from the U.S. Federal Reserve as factors fuelling hopes for a broader market rally. The second quarter earnings season has started positively for cyclical sectors, with over a quarter of the global companies announcing their results so far, Refinitiv Eikon data showed. "The upcoming earnings season has the potential to broaden the rally for sure. However, there are plenty of laggards especially in cyclical sectors such as financials and consumer discretionary, which are available at attractive valuations, analysts say. Over the past month, the communication services, mining and financial sectors have all posted about 5% gains, outpacing the tech sector's modest 2% rise.
Persons: Puneet Singh, Singh, Alastair Pinder, Derek Izuel, Patturaja Murugaboopathy, Noel Randewich, Vidya Ranganathan, Alison Williams Organizations: U.S . Federal Reserve, Reuters, Societe Generale, Carnival Corp, Equity, Nasdaq, Intelligence, Royce, Reuters Graphics Reuters, HSBC Research, Shelton Capital Management, Thomson Locations: U.S, Singapore, Asia, Europe, California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian Hotels Company says it hopes to open at least 20 hotels in Indian subcontinent this yearIndian Hotels Company Limited (IHCL) posted a more than 30% year-on-year surge in its first-quarter net profit. Puneet Chhatwal, managing director and CEO of IHCL, discusses what's behind the momentum.
Persons: Puneet Chhatwal Organizations: Indian Hotels Company
Thermo Fisher to acquire CorEvitas for about $913 million
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +2 min
Thermo Fisher has been on an acquisition spree in recent years as it strives to become a one-stop shop for biopharma services. CorEvitas is expected to boost Thermo Fisher's annual adjusted earnings per share by 3 cents next year. The data provider also has the potential to generate $110 million of revenue in 2023, Thermo Fisher said. CorEvitas' data intelligence platform would be added to Thermo Fisher's laboratory products and biopharma services unit, upon completion of the deal. Shares of Massachusetts-based Thermo Fisher were down 1.3% at $514 in early trading.
Persons: Fisher, CorEvitas, Puneet, Sriparna Roy, Shilpi Majumdar Organizations: SVB Securities, Audax Private Equity, Massachusetts, Thomson Locations: U.S, Boston, Bengaluru
UBS overhauls leadership at wealth management division
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +2 min
ZURICH, July 6 (Reuters) - UBS's (UBSG.S) flagship global wealth management business on Thursday announced a raft of management changes triggered by the Swiss bank's takeover of Credit Suisse. Former Credit Suisse executive Michael Marr will become the head of Global Wealth Management Australia at UBS, according to a person familiar with the matter. The move marks the re-entry of UBS's wealth management business into Australia after several years. The decisions had been based on "fairness and meritocracy," said Iqbal Khan, the president of UBS Global Wealth Management, in a memo seen by Reuters. Thursday's announcement follows a raft of management changes UBS announced last month when it formally completed the takeover of its former rival.
Persons: Michael Marr, Puneet Matta, Lisa Golia, Morgan Stanley, Iqbal Khan, Khan, Sergio Ermotti, Ruben Mangold, Oliver Hirt, John Revill, David Evans Organizations: Credit Suisse, Former Credit Suisse, Global Wealth Management, UBS, UBS Global Wealth Management, Reuters, Credit Suisse's, Shipping Finance, Thomson Locations: ZURICH, Swiss, Australia, India, Dubai, London, Singapore, United States, Credit Suisse's Swiss
NEW DELHI/BENGALURU, June 2 (Reuters) - The India and South Asia head of Amazon.com Inc's (AMZN.O) cloud division, Puneet Chandok, has resigned with effect from August 31, the company said on Friday. Chandok had taken the helm of Amazon Web Services in June 2019. Vaishali Kasture, currently head of enterprise for mid-market and global businesses at AWS India and South Asia, would take on the role of interim leader of commercial business for the unit, Amazon India said. The news came over two weeks after Amazon's cloud computing unit revealed plans to invest 1.06 trillion rupees ($12.87 billion) in India by 2030, doubling down on its past investments to cater to the growing demand for such services in Asia's No. The interim provides an opportunity for other cloud companies such as Azure and Google Cloud Platform, along with homegrown players, to make aggressive bids for accounts, said Akshara Bassi, an analyst at Counterpoint Research.
Persons: Inc's, Puneet Chandok, Chandok, Vaishali Kasture, Akshara Bassi, Munsif Vengattil, Aditya Kalra, Varun, Savio D'Souza, Dhanya Ann Thoppil, Sohini Organizations: NEW, Amazon Web Services, India, Amazon, Counterpoint Research, Varun Vyas, Thomson Locations: NEW DELHI, BENGALURU, India, South Asia, Amazon India, Asia's, New Delhi, Bengaluru
Recession fears set stocks on course for weekly drop
  + stars: | 2023-04-21 | by ( Tom Westbrook | ) www.reuters.com   time to read: +4 min
Overnight figures showed more Americans filing claims for jobless benefits and manufacturing activity in the mid-Atlantic region slumping to its lowest level in nearly three years. Leading Economic Index, a gauge of future economic activity, also dropped to its lowest level since November 2020 overnight and it is signalling a recession starting mid-2023. Tesla (TSLA.O) shares tumbled 9.7% after the electric vehicle maker posted its lowest quarterly gross margin in two years. The yen hovered at 134.11 to the dollar, though the New Zealand dollar nursed losses at $0.6162 after Thursday's softer-than-expected inflation data. In the oil market, at $80.79 a barrel, Brent is also below its 50-day moving average for the first time since oil producers unexpectedly announced extra production cuts two weeks ago.
MUMBAI, April 10 (Reuters) - Singapore-based sovereign wealth fund Temasek said on Monday that it is acquiring an additional 41% stake in India's Manipal Health Enterprises from investors including TPG, boosting its stake in one of the country's largest hospital chains to 59%. While Manipal did not specify the deal value, Temasek has paid about $2 billion for the additional stake, said a person with direct knowledge of the matter. Private equity firm TPG, an investor in Manipal since 2015, will fully exit its stake, though it will reinvest via a new fund. India's sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF), will also sell its full stake to Temasek, while Manipal founder Ranjan Pai's family holding will reduce from about 50% to 30%. "By re-investing through our new Asia fund – TPG Asia VIII, we look forward to continuing to support Manipal's mission of bridging the quality healthcare infrastructure gap in the country," said Puneet Bhatia, co-managing partner of TPG Capital Asia.
Sustainable aviation fuel can be up to 80% less carbon intensive than conventional jet fuel. The US wants 3 billion gallons of sustainable aviation fuel by 2030. Sustainable aviation fuel, or SAF, is similar to conventional jet fuel, but it's much less carbon-intensive during its full lifecycle. From production to combustion, it releases up to 80% less carbon dioxide than conventional jet fuel, according to data from the International Air Transport Association. "There are very few that have seen the vision" of converting to SAF production.
Electric vehicle charging stations from Tata Power can be found on 350 of the 600 highways in India. Puneet Vikram Singh, Nature And Concept Photographer, | Moment | Getty ImagesWhen most people think about electric vehicles, they think cars. From brands like Tesla and Rivian in the United States, to Nio and XPeng in China, global sales of electric vehicles have surged. But in India, two-wheel vehicles such as scooters, mopeds and motorbikes, dominate the market. The starting price of electric two-wheel vehicles can be as high as 160,000 rupees.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's wedding market has been growing 'immensely,' hospitality company saysPuneet Chhatwal of Indian Hotels Company Limited says he doesn't see "any change in the base in the foreseeable future."
Cologuard, a stool-based DNA test, identifies 92% of colorectal cancers and 42% of pre-cancerous polyps, according to data from Exact Sciences (EXAS.O), which markets the test. Guardant said that a subsequent colonoscopy ruled out colon cancer in 10% of people who tested positive with its DNA blood test. "This is a huge unmet clinical need," Talasaz said of a blood test for detecting colon cancer. "There are still 50 million people out there who are not complying with colorectal cancer screening." Guardant is currently enrolling patients in a different trial of its DNA blood test for detecting lung cancer, Talasaz said.
Guardant Health said that its blood test to screen for cancer caught 83% of colorectal cancer cases. On Thursday, Silicon Valley-based biotech Guardant Health announced that its blood-based cancer screening test correctly caught colorectal cancer cases in 83% of people who had the disease. The company already has several products on the market, including Guardant360CDx, an FDA-approved blood test to test cancer genomic markers that could help show what treatments the cancers are susceptible to. Colonoscopies are still the gold standard of colorectal cancer screening, despite involving sedation and hours of unpleasant physical preparation. And while colorectal cancer is the first cancer that is being studied for a blood-based screening, it certainly won't be the last.
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