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☆ India set to be world's third largest economy by 2027, finance ministry says
▼ + stars: | 2024-01-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

India could become the world's third-largest economy by 2027 with a gross domestic product of $5 trillion, the finance ministry has said. The projections come ahead of an interim budget due to be released later this week. In a report released Monday, the finance ministry said the economy is poised to grow at or above 7% in the fiscal year 2024. If it meets this year's target, it will be the third straight year of 7% GDP growth for India. India's chief economic advisor, V Anantha Nageswaran, said the government's goal is to become a developed country by 2047.

Persons: Nirmala Sitharaman, V, Nageswaran Organizations: Indian Finance, Bombay Stock Exchange Locations: Mumbai, India

☆ Zee founder family to eventually lift stake to 26%, according to reports
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +1 min

Logos of Zee Entertainment Enterprises Ltd. displayed on computer screens arranged in Mumbai, India, on Tuesday, Jan. 9, 2024. Zee Entertainment founder Subhash Chandra's family will eventually lift their stake in the media house to 26% from 4% currently, Mint reported on Monday, days after a merger with Sony 's India unit collapsed. "I have advised my immediate and extended family to increase their shareholding in Zee... We eventually want to go back to 26%, but it will take time," Chandra told Mint, a business daily, in an interview. Chandra, who set up Zee in 1992 and is often dubbed the "Father of Indian Television", is now chairman emeritus at Zee. Chandra, who is Goenka's father, told Mint "Punit is the right person to run the company and there is no problem with Zee."

Persons: Subhash Chandra's, Zee, Chandra, Punit Goenka, Goenka, Mukesh Ambani's Organizations: Zee Entertainment Enterprises, Zee, Sony Group Corp, Zee Entertainment, Mint, Sony, Indian, Walt Disney, India Locations: Mumbai, India, Zee .

☆ Sony’s $10 billion India media deal with Zee ends in ugly breakup
▼ + stars: | 2024-01-22 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —A dramatic acquisition saga in one of the world’s fastest growing media industries is headed for a bitter ending. Sony Group (SONY) has called off the merger between its India unit and Mumbai-based Zee Entertainment, the Japanese company said on Monday. Sony’s move to end talks comes at a time when Disney (DIS) and Mukesh Ambani’s Reliance Industries are discussing combining their Indian media businesses. Zee “categorically denies all the assertions … including their claims for the termination fee,” the statement added. Prime Minister Narendra Modi’s government expects the nation to soon become the world’s third largest media and entertainment market, from fifth currently.

Persons: Sony’s, Mukesh Ambani’s, Zee, Punit Goenka, Zee “, Narendra Modi’s Organizations: New, New Delhi CNN, Sony Group, SONY, Zee Entertainment, Netflix, Disney, Mukesh Ambani’s Reliance Industries, Sony, Reuters, Zee, Reliance Locations: New Delhi, India, Mumbai

☆ Japan's Sony terminates $10 billion merger with India's Zee
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +2 min

Japan's Sony Group said on Monday it has sent a termination notice to Zee Entertainment to call off a $10 billion merger of their Indian operations, following an impasse over who will lead the combined entity. It cited unmet conditions of the merger agreement as the reason for the termination. Although Sony did not specify on Monday what conditions were unfulfilled, a stalemate over who will lead the combined company had put the merger in danger. Zee proposed CEO Punit Goenka, but Sony disagreed in light of a market regulator probe into Goenka. On Friday, Zee had said it was committed to the merger and was working to close the deal through "good faith negotiations".

Persons: Mukesh, Zee, Punit Goenka, Karan Taurani Organizations: Sony, Zee Entertainment, Reliance Industries, Goenka, Reuters, Disney, Elara Capital, Netflix, Disney's Star, Zee, Bloomberg Locations: Mumbai, Maharashtra

☆ Ayodhya temple: India’s Narenda Modi hails a new ‘divine India’ as he inaugurates Ram Mandir ahead of election
▼ + stars: | 2024-01-22 | by ( Helen Regan | Rhea Mogul | ) edition.cnn.com time to read: +11 min

By moving ahead of building the temple, now we all take the oath of building a national, capable, successful, beautiful, and divine India,” Modi said. His promise to build the Ram Mandir helped spur that initial election success. A devotee gets anoint the name of Lord Ram on his forehead ahead of the Inauguration of the Ram Mandir Temple on January 20, 2024 in Ayodhya, India. Ritesh Shukla/Getty Images“I have come here to seek blessings from Lord Ram and Sita, I am very happy today,” she said. “I have come here to seek blessing from Lord Ram, Modi has done so much,” he said.

Persons: Narendra Modi’s, Lord Ram –, Ram, ” Modi, “ Ram, Modi, Lord Ram, Rafiq Maqbool, Pran Pratishtha, Mohan Bhagwat, ”, Yogi Adityanath, Acharya Mohanjodaro Bharadwaj, Babar, Money Sharma, Maulana Badshah Khan, “, ” Khan, weaponizing, Modi “, Modi fasted, Rajesh Kumar Singh, Nilanjan Mukhopadhyay, Chandravanshi, Ritesh Shukla, Sita, Lal Singh Khushwa Organizations: CNN, “, Bharatiya Janata Party, BJP, Rashtriya Swayamsevak Sangh, Getty, Human Rights, AP, YouTube Locations: India, India’s Ayodhya, Babri, Ayodhya, Vedika, India's, Mumbai, Uttar Pradesh, New York, Square, South Asia, Sarayu, New India, US, Tamil Nadu, “, Chhattisgarh

How Houthi Attacks Have Upended Global ShippingShipping routes before attacks After attacks EUROPE ASIA Suez Canal Red Sea Gulf of Aden Malacca Strait AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE ASIA Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic Ships diverted after attacks Cape of Good Hope Note: To show the changing paths of ships that regularly traverse the Red Sea, 3,461 cargo vessels recorded at entrances to the Red Sea in the last three months are shown. Those detours, and the Houthi attacks, have persisted despite airstrikes by the United States and its allies against the Houthis. Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Three commercial vessels were struck in one day on Dec. 3. Nov. 15, 2023 Dec. 1 Dec. 15 Jan. 1, 2024 Jan. 15 Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Nov. 15, 2023 Armed Houthi fighters boarded a commerical vessel. The Houthi attacks have delayed China’s annual surge in exports before its factories are idled next month for the Lunar New Year.

Persons: Cape, Jan, JPMorgan Chase, Port Said Organizations: Global Shipping Shipping, Atlantic, Ships, Good Hope Shipping, Shipping, United States Central Command Shipping, Ikea, East, JPMorgan, Maersk, U.S . Energy Information Administration, Rotterdam EUROPE Venice, Good Hope, EUROPE Venice, International Monetary, Trade, Galaxy Leader, U.S . Navy, America Locations: ASIA Suez, Aden Malacca Strait AFRICA, ASIA Suez Canal Gulf, Aden Red, Suez Canal Gulf, Suez, Africa, Yemen, Israel, Gaza, United States, U.S, Asia, Europe, China, Northern Europe, East Coast, Maersk Hong Kong, The Singapore, Singapore, Slovenia, Port Said, Egypt, Port, Russia, Ukraine, India, Rotterdam EUROPE, Rotterdam EUROPE Venice Barcelona, Istanbul ASIA SYRIA LEBANON IRAN ISRAEL IRAQ Strait, Hormuz GAZA Suez, Kuwait, Red, Mumbai Malacca, YEMEN AFRICA, Aden, Good, Good Hope EUROPE ASIA SYRIA LEBANON ISRAEL IRAN IRAQ GAZA Suez, Strait, Hormuz Red, YEMEN, EUROPE, EUROPE Venice Tokyo Barcelona, Istanbul Shanghai ASIA SYRIA LEBANON IRAN ISRAEL IRAQ GAZA, Hormuz Hong, Suez Canal Kuwait, AFRICA Red, Mumbai Bangkok YEMEN Malaca, Istanbul Shanghai SYRIA LEBANON IRAN ISRAEL IRAQ ASIA GAZA, Suez Canal AFRICA Kuwait City Red, Red Sea, Beijing

☆ Passenger locked in a tiny plane bathroom claims he was tossed around and suffered injuries as it landed, report says
▼ + stars: | 2024-01-20 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

A man was trapped in a plane bathroom during a flight after the lock malfunctioned. He says he was "traumatized" and suffered injuries when the plane landed with him still in the restroom. AdvertisementA passenger who was stuck in a plane bathroom for most of a flight said he was left "traumatized" by the incident. It was getting scarier every minute," the passenger told The Times of India. AdvertisementThe man claims he suffered injuries as the plane landed and said he was just given a bottle of water and no medical checkups upon arrival.

Persons: SpiceJet, — Organizations: Service, BBC Locations: Mumbai, Bengaluru, India

☆ India's consumption growth is set to accelerate as Goldman predicts 'affluent' Indians to nearly double
▼ + stars: | 2024-01-19 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

The increase in wealth has been seen from stronger retail participation, larger investments into the Indian stock markets, and gold and property purchases. Rising disposable incomes are set to power India's consumption story, further boosting the country's consumer sector that is fast becoming a key driver for economic growth. His comments came on the back of a Goldman Sachs report last week that predicted around 100 million people in India will become "affluent" — earn an annual income exceeding $10,000 — by 2027. Currently, 60 million people in the world's fifth-largest economy earn more than $10,000 — around 4% of India's working age population — according to the report released last week. The country's consumer market is set to become the world's third-largest by 2027, as the number of middle- to high-income households rises.

Persons: Abhishek Malhotra, Goldman Sachs, Malhotra Organizations: McKinsey &, CNBC, BMI Locations: India, Mumbai

☆ Indian Devotees Splurge on Jets, Gold Idols as Hindu Temple Opens
▼ + stars: | 2024-01-19 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

Indian Prime Minister Narendra Modi and Asia's richest man Mukesh Ambani are among the 8,000 or so attendees at Monday's inauguration event for the Ram Temple, which devotees believe is built on the birthplace of Lord Ram, a sacred Hindu deity. Officials estimate 100 private jets will descend on Jan. 22 on Ayodhya airport, filling it to capacity. Mehra did not disclose the price of the charters, but private jet booking website JetSetGo lists the price of a Mumbai-Gorakhpur flight on a Falcon 2000 jet with nine passengers on board at about $74,000. There is a waiting period of two weeks," said Baldev Singh, a manager at HS Jewellers in Lucknow city. "People are betting on economic prosperity but there's also emotional attachment to be part of the Ayodhya story."

Persons: Saurabh Sharma, Tanvi Mehta, Narendra Modi, Mukesh Ambani, Lord Ram, Modi, It's, Rajan Mehra, Mehra, Baldev Singh, Amitabh Bachchan, Abhinandan, Abhinandan Lodha, Aditya Kalra Organizations: Indian, Ram, Bharatiya Janata Party, Dassault, Reuters Locations: Tanvi Mehta AYODHYA, India, Ayodhya, Varanasi, Gorakhpur, Mumbai, Thailand, Lucknow city

The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.

Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat

☆ This fund scored a big win with its bet on Adani. Now, it could be pressing pause
▼ + stars: | 2024-01-18 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani (L) highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023. One of the biggest investors in India's Adani Enterprises says he may be done doubling down on his investment. So I don't know [if] we'll double down further," Jain said on "Street Signs Asia." I don't know whether we'll go further from here." Adani Enterprises, owned by one of India's richest men Gautam Adani, is one of the country's top three conglomerates.

Persons: Sagar Kambli, Gautam Adani, Rajiv Jain, Jain, we'll Organizations: India's Adani Enterprises, GQG Partners, CNBC, Adani Enterprises, Hindenburg Locations: Mumbai, New

☆ A plane passenger's bathroom break turned into a nightmare when he got stuck inside — and cabin crew couldn't get him out
▼ + stars: | 2024-01-17 | by ( Monica Humphries | ) www.businessinsider.com time to read: +2 min

A passenger on a SpiceJet flight from Mumbai to Bengaluru, India, was locked in the plane bathroom. AdvertisementA bathroom break on a flight turned into a nightmare for one passenger who got stuck in the plane's restroom for the majority of his flight, the BBC reported. On Tuesday, a SpiceJet flight left Mumbai for Bengaluru, India. According to the BBC, the passenger could not exit the restroom and was stuck inside for about an hour of the one-hour-and-45-minute flight. AdvertisementSpiceJet cabin crew realized the passenger was stuck after the "man's distress calls," the BBC reported.

Persons: —, @iam_amangulati Organizations: Service, BBC, Independent, New Delhi Television Locations: Mumbai, Bengaluru, India

☆ ‘Annapoorani’: Netflix removes Indian movie after backlash by right-wing Hindu groups
▼ + stars: | 2024-01-16 | by ( Jessie Yeung | ) edition.cnn.com time to read: +5 min

New Delhi CNN —Netflix has removed an Indian film from its platform after it sparked backlash and protest from right wing Hindu groups – the latest in several recent controversies where India’s entertainment industry has caved to religious pressure campaigns. The movie was released on Netflix on December 29, where it quickly became the streaming platform’s top trending movie in India, according to production studio Zee Entertainment. “We removed this film at the request of the licensor,” a Netflix spokesperson confirmed to CNN in a statement Tuesday. CNN reached out to Zee Entertainment and the film’s director, but did not receive a response by the time of publication. That incident, like the ongoing controversy over ‘Annapoorani,’ prompted a police complaint against Netflix executives.

Persons: ”, Ramesh N Solanki, Lord Ram, Shriraj Nair, Vikram Seth, Narendra Modi’s, ‘, ’, Modi Organizations: New, New Delhi CNN, Netflix, Zee Entertainment, CNN, Hindu IT Cell, Vishwa Hindu Parishad, India, Bharatiya Janata Party, BJP, – Locations: New Delhi, India, Asia, Indian, Delhi, Mumbai

☆ Netflix removed an Indian film after religious viewers criticized meat-eating characters
▼ + stars: | 2024-01-15 | by ( Yoonji Han | ) www.businessinsider.com time to read: +4 min

Read previewNetflix pulled an Indian film from its platform just days after it began streaming after backlash from right-wing Hindu groups, reports say. This story is available exclusively to Business Insider subscribers. The phrase "love jihad" refers to an Islamaphobic conspiracy theory purporting that Muslim men are seducing Hindu women to convert them to Islam. 'Fanaticism won, creativity lost'It's not the first time Netflix and other streaming platforms have faced pressure from religious Hindu groups. AdvertisementNetflix did not immediately respond to a request for comment from Business Insider.

Persons: —, Narendra Modi's, Shri Ram, Annapoorani, — Ramesh Solanki 🇮🇳 ( Organizations: Service, Netflix, Business, Hindu Parishad, Zee Studios Locations: Tamil Nadu

☆ Mary Ellen Mark: Vintage photos offer rare glimpse of Mumbai’s red-light district
▼ + stars: | 2024-01-05 | by ( Christy Choi | ) edition.cnn.com time to read: +15 min

CNN —Mary Ellen Mark couldn’t forget Falkland Road. Despite being harassed and intimidated, legendary photographer Mary Ellen Mark spent 10 years trying to take photos on Falkland Road. Mary Ellen Mark A young woman and her customer photographed by Mary Ellen Mark. Mary Ellen Mark Falkland Road's infamous cages, where sex workers were displayed to passersby and potential customers. Mary Ellen Mark A young woman and a child seen reflected in a mirror.

Persons: Mary Ellen Mark, Mary Ellen Mark couldn’t, ”, Falkland, ” Meredith Lue, Lue, didn’t, Mark, “ Saroja, ’, Mary Ellen Mark Friends, “, ” Lue, she’s, Asha, Mumtaz, Usha, Mary Ellen Mark Late, Mary Ellen Mark Falkland, wouldn’t, Champa, Martin Bell, ” Mark, Mary Ellen Mark Hidden, ” Bell, Mark’s, ’ ” Lue, Ward, They’re, they’ve, It’s, ” Mary Ellen Mark Organizations: CNN, New York Times, Mary Ellen Mark Foundation, GEO, Olympia, Mental Institution, Ward, Times, “ Locations: Mumbai, Bombay ”, Bombay, —, Falkland, “, Mumbai's, South India, America, Berlin, Germany, India, Seattle, Oregon

☆ India wants to host the Olympic Games in 2036. Is the country ready?
▼ + stars: | 2023-12-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Labourers work beside the Olympic signage at the entrance of a venue ahead of the upcoming 141st International Olympic Committee (IOC) session in Mumbai on OCtober 11, 2023. In October, Prime Minister Narendra Modi announced that India plans to host the 2036 Games, reportedly saying it's the country's "age-old dream." Indonesia, Mexico, Turkey and Poland have also expressed their interest to host the Games in 2036. Reliance Industries, the country's largest private sector company, entered into a partnership with the Indian Olympic Association (IOA) last year. In 2011, after the games concluded, the chairman of the of the Commonwealth Games organizing committee, Suresh Kalmadi, was arrested for corruption and financial malpractice.

Persons: Indranil MUKHERJEE, INDRANIL MUKHERJEE, Indranil Mukherjee, Narendra Modi, Nita Mukesh Ambani, CNBC's Tanvir Gill, Ambani, Thomas Bach, Suresh Kalmadi, David Carter, Carter Organizations: 141st International Olympic Committee, AFP, Getty, Afp, India, Business, Reliance Foundation, Reliance Industries, Indian Olympic Association, Olympic Games, CNBC TV18, Olympic, Commonwealth Games, Guardian, BBC, Cricket, University of Southern, CNBC Locations: Mumbai, India, Indonesia, Mexico, Turkey, Poland, Delhi, University of Southern California

☆ Subsidies are crucial to the green transition: podcast
▼ + stars: | 2023-12-05 | by ( Una Galani | ) www.reuters.com time to read: +1 min

Andrew Forrest, Chairman and Founder, Fortescue Metals Group speaks at the Global Energy Transition 2022 conference in New York City, New York, U.S. June 14, 2022. REUTERS/David Dee Delgado Acquire Licensing RightsMUMBAI, Dec 5 (Reuters Breakingviews) - The world is short not of capital, but of projects to fund and sovereigns willing to share risk. In this Exchange podcast, Fortescue’s (FMG.AX) Andrew Forrest discusses why all countries need an IRA and the lessons of leading the world’s fourth-largest iron ore miner through change. Listen to the podcastFollow @ugalani on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Andrew Forrest, David Dee Delgado, Thomas Shum Organizations: Fortescue Metals, Global, REUTERS, Rights, Reuters, Thomson Locations: New York City , New York, U.S

[1/2] Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. While all manufacturers including Samsung (005930.KS) have agreed to India's plan, Apple is pushing back. Apple, whose India lobbying efforts are being reported for the first time, and India's IT ministry, did not respond to Reuters requests for comment. Renowned Apple analyst Ming-Chi Kuo has estimated 12-14% of iPhone production in 2023 will be from India, with the number set to rise to as much as 25% next year. In terms of market share, Apple accounts for 6% of India's booming smartphone market, compared with just about 2% four years ago.

Persons: Francis Mascarenhas, Apple, Narendra Modi, Ming, Chi Kuo, Prabhu Ram, Aditya Kalra, Susan Fenton Organizations: Apple, REUTERS, DELHI, European Union, Samsung, India's, Reuters, IT, Research, Indian, Consumers, Industry Intelligence, CyberMedia, Thomson Locations: Mumbai, India, New Delhi, U.S, KS, EU, PLI, China

☆ Japan's TDK Corp to manufacture iPhone battery cells in India - minister
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

A man takes a video inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Dec 4 (Reuters) - Japanese electronic parts maker TDK Corp (6762.T) will manufacture lithium ion (li-ion) battery cells for Apple (AAPL.O) iPhones in India, a minister said on Monday. loadingApple has been touting India as its next big growth driver as it looks to move some production away from China. Cells manufactured at the facility will be supplied to Apple's li-ion battery assembler Sunwoda Electronics, the report added. Apple and TDK Corp did not immediately reply to Reuters' request for comment.

Persons: Francis Mascarenhas, TDK, Information Technology Rajeev Chandrasekhar, Manvi, Varun Organizations: Apple, REUTERS, Rights, TDK Corp, Information Technology, Twitter, Business, Reuters, Thomson Locations: Mumbai, India, iPhones, China, Wistron, Haryana, Manvi Pant, Bengaluru

"We always said we will win the heartland states," BJP President Jagat Prakash Nadda told Reuters. However, a 28-party opposition alliance led by the Congress party has come together to jointly fight BJP, posing a new challenge. But the alliance did not feature in the state polls due to internal rivalries and it was a direct contest between BJP and Congress. Politicians and analysts say state elections do not always influence the outcome of the general elections or accurately indicate national voter mood. Results of the last round of state elections before national elections have been misleading in the past.

Persons: Stringer, Narendra Modi, Modi, Rahul Gandhi, Jagat Prakash Nadda, Jyotiraditya Scindia, Gandhi, Supriya Shrinate, Gurmeet Chadha, Ira Dugal, Lincoln, Christopher Cushing Organizations: REUTERS, DELHI, Bharatiya Janata Party, BJP, Telangana, Reuters, Developmental, Congress, Thomson Locations: Madhya Pradesh, Indore, India, Rajasthan, Chhattisgarh, Telangana, Karnataka, Mizoram, Mumbai

☆ COP28: What sea level rise will look like in the cities that have hosted global climate summits
▼ + stars: | 2023-12-03 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +10 min

And scientists say the steady climb of global sea level will continue for many decades as temperatures crank higher. A photo illustration of the Burj Khalifa in Dubai, United Arab Emirates, if we sharply cut carbon pollution (1.5°C global warming). Climate Central A photo illustration of the Burj Khalifa in Dubai, United Arab Emirates, if we keep our current carbon path (3°C global warming). Climate Central Photo illustrations from Climate Central What sea-level rise could look like at the Burj Khalifa in Dubai, United Arab Emirates. A photograph of the Fortaleza del Real Felipe in Lima, Peru, if we sharply cut carbon pollution (1.5°C global warming).

Persons: Sabelle, ”, Benjamin Strauss, ” Strauss, Chhatrapati Shivaji Maharaj Vastu, Shivaji Maharaj Vastu Organizations: CNN, Climate Central, UN, United Arab Emirates, Fortaleza del Real Felipe, Climate, Durban City Hall, U.S . Navy, NGA, World Meteorological Organization Locations: Dubai, Burj Khalifa, United Arab Emirates, United Arab, Fortaleza, Lima , Peru, Earth’s, Climate Central, COP21, Paris, Durban, South Africa, Mumbai, India, Chhatrapati, Antarctica, Copenhagen, Denmark, Christiansborg, COP28

☆ India's construction sector levels up as housing demand spurs economy
▼ + stars: | 2023-12-02 | by ( Manoj Kumar | ) www.reuters.com time to read: +5 min

That helped India expand at a forecast-beating 7.6%, making it one of the world's fastest-growing major economies. It has been driven by rising incomes for many Indians, a severe housing shortage in big cities and strong population growth. Builders are bullish long-term with many saying the boom could last two to three years and some even more optimistic. "The housing market could continue to perform well for another three to four years," Sanjeev Jain, managing director at Parsvnath Developers, a leading real estate company, noting that India is in the initial stages of a housing growth cycle. The government is also trying to boost the availability of affordable housing by providing subsidies, which is encouraging construction in India's smaller towns and cities.

Persons: Nifty, Sunil Sinha, Sanjeev Jain, Prashant Thakur, Jayesh Rathod, Narendra Modi's, Manoj Kumar, Nigam, Ira Dugal, Edwina Gibbs Organizations: DELHI, Fitch, Builders, Parsvnath Developers, Reuters, Graphics, Advisory, Prestige Estates, DLF, Reuters Graphics, Thomson Locations: India, China, Mumbai, New Delhi, Bangalore, rocketed, Thane, Tamil Nadu, Karnataka, Gujarat

☆ India's Nifty 50 hits all-time high after upbeat growth data
▼ + stars: | 2023-12-01 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The NSE Nifty 50 index (.NSEI) rose as much as 0.52% to 20,238.45, a new record high, while the S&P BSE Sensex (.BSESN) was up 0.44% at 67,286.16, as of 9:35 a.m. IST. "India's growth outlook remains positive, with various capex initiatives of the government likely to trigger consumption at the bottom of the pyramid," Pramod Gubbi, founder of Marcellus Investment Management, said. India's Nifty and Sensex posted their best month in 2023 in November, aided by the return on foreign portfolio investor (FPI) inflows. India's general elections are due early next year. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Mrigank DhaniwalaOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Gubbi, India's, Sensex, Madhavi Arora, Bharath Rajeswaran, Sonia Cheema Organizations: National Stock Exchange, REUTERS, Rights, NSE, BSE, Reuters, Reserve Bank, Marcellus Investment Management, Wall, Dow Jones, Bharatiya Janata Party, BJP, Indian National Congress, Emkay Global Financial Services, Thomson Locations: Mumbai, India, U.S, Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, Bengaluru

☆ Central banks of India, England resolve trade settlement stand-off
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] FILE PHOTO: A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. REUTERS/Francis Mascarenhas//o/File Photo Acquire Licensing RightsMUMBAI, Dec 1 (Reuters) - The central banks of India and England on Friday signed an agreement on information exchange for settlement of bond trades, the Reserve Bank of India (RBI) said. In India, bonds are settled through the Clearing Corporation of India (CCIL). The two central banks have also established a framework for the BoE to rely on the Indian central bank's regulatory and supervisory activities, while safeguarding the United Kingdom's financial stability, the RBI said. This meant that European banks had to settle their India-based trades through banks based in other jurisdictions.

Persons: Francis Mascarenhas, BoE, CCIL, Siddhi Nayak, Jayshree, Nivedita Bhattacharjee, Sohini Organizations: Bank of India, REUTERS, Rights, Reserve Bank of India, Clearing Corporation of India, Bank of England, United, European Securities and Markets Authority, Siddhi, Thomson Locations: Mumbai, India, England

☆ Geely’s stalled IPO discounts global expansion
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 1 (Reuters Breakingviews) - Electric-car marque Zeekr, controlled by China’s largest private auto group Zhejiang Geely, has hit a roadblock. It is putting on hold its New York initial public offering because of a mismatch in valuation expectations, Reuters reported on Thursday. It was hoped the listing would break the ice and encourage a resurgence in Chinese volumes in U.S. capital markets. Its prospectus was published in November, when global stocks recorded their best performance since 2020. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Xi Jinping, Joe Biden, Katrina Hamlin, Julius Baer’s, Una Galani, Thomas Shum Organizations: Reuters, Zhejiang, American, Tata Technologies, X, Barclays, Thomson Locations: HONG KONG, York, Mumbai, Europe, United States, China

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