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☆ 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

A billboard for the Netflix film "Thar" is seen on a street in Mumbai, India, May 19, 2022. India last month introduced the new draft law to regulate the broadcasting sector that will also apply to streaming giants. Netflix and Viacom18, as well as India's Information and Broadcasting Ministry, which has proposed the law, did not respond to a request for comment. India's government says the new law and formation of content committees will help in "robust self-regulation". Top Bollywood stars feature in Indian streaming shows, some of which have faced criticism from lawmakers and the public for scenes deemed vulgar or offensive.

Persons: Francis Mascarenhas, Mukesh Ambani's Viacom18, Aditya Kalra, Munsif Vengattil, Emelia Sithole Organizations: Netflix, REUTERS, DELHI, Broadcasting Ministry, Disney, Media Partners Asia, Thomson Locations: Mumbai, India

☆ US and India’s strengthening bond is weak on trust
▼ + stars: | 2023-11-30 | by ( Una Galani | ) www.reuters.com time to read: +4 min

REUTERS/Kevin Lamarque Acquire Licensing RightsMUMBAI, Nov 30 (Reuters Breakingviews) - Trust between the United States and India is eroding. It says it will investigate security concerns aired by the United States. Trying that on the United States would be more consequential: Apple (AAPL.O) and Tesla (TSLA.O) are looking to build supply chains in the country, and the U.S. is the largest market for India’s people-heavy IT services companies. The United States and India may draw a quick line under the murder-for-hire episode, but it will sow a lasting seed of doubt in the relationship. Prosecutors did not name the Indian official.

Persons: Kevin Lamarque, soberly, ”, Justin Trudeau, Joe Biden, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Jamal Khashoggi, Nikhil Gupta, “, Arindam Bagchi, Neil Unmack, Oliver Taslic Organizations: White, REUTERS, Rights, Reuters, U.S . Department of Justice, U.S, Companies, Micron, General Electric Aerospace, Ottawa, Global, Saudi Arabia’s Crown, Indian, U.S . Justice, New, New York City, Prosecutors, “ Security Management, Thomson Locations: India, Washington , U.S, Rights MUMBAI, United States, Delhi, American, China, Asia, Canada, U.S, Vietnam, Saudi, Istanbul, Manhattan, New York

☆ India's blue-chips open higher, inch towards record high ahead of GDP data
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: 1 min

The Bombay Stock Exchange (BSE) building is seen lit up for Diwali, the Hindu festival of lights, in Mumbai, India, November 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Nov 30 (Reuters) - Indian blue-chip shares opened higher on Thursday, with the benchmark indexes inching towards new record highs, as bets of U.S. interest rate cuts by March 2024 have triggered foreign inflows ahead of key macroeconomic data. The NSE Nifty 50 index (.NSEI) rose 0.17% to 20,130.10 points and the S&P BSE Sensex (.BSESN) was up 0.15% at 66,995.97, respectively, as of 9:16 a.m IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Mrigank Dhaniwala, Sohini Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, BSE, Thomson Locations: Mumbai, India, Bengaluru

NASA and Indian Space Research Organization logos are seen in this illustration taken May 1, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Nov 28 (Reuters) - NASA will train an Indian astronaut for a voyage to the International Space Station as early as next year, NASA Administrator Bill Nelson said on Wednesday, amid deepening space ties between India and the United States. "There is an opportunity to share science," Nelson said, speaking at an event in Bengaluru, where he is due to inspect the NISAR satellite on Thursday. NASA-ISRO SAR (NISAR) is a low-Earth orbit observatory system jointly developed by NASA and ISRO (Indian Space Research Organisation). "This is the golden age of space exploration," Nelson said at Wednesday's event.

Persons: Dado Ruvic, Bill Nelson, Nelson, NASA's, Russia's Luna, Nivedita, Kanjyik Ghosh, Alexandra Hudson Organizations: NASA, Indian Space Research, REUTERS, Rights, International Space Station, ISRO, Space Research, NASA's Artemis, Alexandra Hudson Our, Thomson Locations: India, United States, Bengaluru, NISAR, Russia, Ukraine, China, Mumbai

☆ China's Alipay sells stake in India's Zomato for nearly $400 mln - term sheet
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: 1 min

[1/2] A delivery worker of Zomato, an Indian food-delivery startup, prepares to leave to pick up an order from a restaurant in Mumbai, India, July 13, 2021. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsNov 29 (Reuters) - Chinese payments group Alipay launched a $400 million accelerated bookbuild to sell its stake in Indian food delivery giant Zomato (ZOMT.NS), according the deal's term sheet on Wednesday. The deal comes after Reuters reported on Tuesday that Alipay was planning to sell its 3.4% in Zomato through block deals on Indian stock exchanges. Reporting by Baranjot Kaur in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Alipay, Baranjot Kaur, Rashmi Organizations: REUTERS, Reuters, Thomson Locations: Mumbai, India, Zomato, Bengaluru

☆ Prosus cuts India's Byju's valuation to under $3 billion
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsMUMBAI, Nov 29 (Reuters) - Tech investor Prosus NV (PRX.AS) said on Wednesday it was valuing Indian education firm Byju's at under $3 billion, 86% less than its peak valuation of $22 billion last year, after the company struggled with governance and cash-flow problems. The disclosure, made by interim CEO Ervin Tu during Prosus earnings call, is the latest cut to Byju's valuation after several executives and board members quit and it delayed filing its 2021/22 financial results by a year. Over the past year, shareholders including Prosus and Blackrock have successively cut Byju's valuation to $11 billion in March, $8 billion in May and $5 billion in June. It has delayed publishing its financial results, prompting auditor Deloitte and three board members quit in June. Byju's filed the delayed but incomplete financial results earlier this month, and is looking to sell off entire business lines to raise cash.

Persons: Dado Ruvic, Ervin Tu, Prosus, Byju's, Sriram, Aditya Kalra, Miral Organizations: REUTERS, Rights, Tech, Prosus NV, Prosus, Blackrock, Atlantic, Deloitte, Thomson Locations: Rights MUMBAI, Silver

☆ An Indian government official directed a plot to assassinate a Sikh US citizen on American soil, feds say — and more attempts were planned
▼ + stars: | 2023-11-29 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

AdvertisementA member of the Indian government directed a foiled plot to assassinate a US citizen on American soil, according to a newly unsealed federal indictment. Students give final touches to paintings of US President Joe Biden, Indian Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni at an art school in Mumbai on September 5, 2023, ahead of the two-day G20 summit in New Delhi. President Joe Biden personally raised the issue with Indian Prime Minister Narendra Modi at the G20 summit in September, according to the Financial Times. In September, Canadian Prime Minister Justin Trudeau accused India's government of being involved in the attack. Prime Minister Narendra Modi of India welcomes US President Joe Biden for the 2023 G20 Leaders' Summit in New Delhi.

Persons: —, Nikhil Gupta, Gurpatwant Singh, Gupta, Pannum, Joe Biden, Narendra Modi, Giorgia Meloni, PUNIT PARANJPE, Getty Images Biden, William Burns, National Intelligence Avril Haines, Hardeep Singh Nijjar, Pannum's, Justin Trudeau, India's, Hardeep Singh, Trudeau, Dan Kitwood, Affairs didn't, GUPTA, Punnam Organizations: Justice Department, Service, Indian, Washington Post, Department, Prosecutors, Italian, Getty Images, Financial Times, CIA, National Intelligence, Justice, Financial, Canadian, of, India, White, India's Ministry, Affairs, Getty Locations: Canada, India, Manhattan, Punjab, New Delhi, New York City, California, Czech Republic, Mumbai, AFP, United States, China, Surrey, of India

☆ High cost of capital a bane for energy transition ahead of COP28
▼ + stars: | 2023-11-28 | by ( Divya Chowdhury | ) www.reuters.com time to read: +2 min

REUTERS/Rula Rouhana Acquire Licensing RightsMUMBAI, Nov 28 (Reuters) - Advocates for the energy transition are concerned ahead of the COP28 summit in Dubai about the high cost of capital available to make change happen, as policymakers ratchet up their rhetoric on the need for tight monetary policy. COP28 is widely expected to focus on climate finance, specifically to build on the G20 nations' commitment to triple renewables deployment to about 11,000 gigawatts by 2030, which will need funds of around $4.5 trillion. Climate finance is going to be the "Achilles' heel" of COP28, said Vaibhav Chaturvedi, fellow at the Council on Energy, Environment and Water (CEEW). Linda-Eling Lee, head of the MSCI Sustainability Institute, said companies and investors cannot be expected to commit long-term capital to the energy transition if policymakers change track suddenly. Agreements on greater transparency in disclosures, along with innovations in finance, will help mobilise more private sector funds, Lee said.

Persons: Rula, Gauri Singh, IRENA, Vaibhav Chaturvedi, Chaturvedi, Linda, Eling Lee, Lee, Divya Chowdhury, Jan Harvey Organizations: Abu Dhabi Sustainability, REUTERS, Rights, International Renewable Energy Agency, Reuters Global Markets, Council, Energy, Bridgetown Initiative, World Bank, Bank, MSCI Sustainability Institute, Finance, Thomson Locations: UAE, Abu Dhabi, Rights MUMBAI, Dubai, Barbados, Bridgetown, Mumbai

[1/6] Ola electric scooters are seen outside the Ola Electric Service Centre, in Thane on the outskirts of Mumbai, India, October 25, 2023. Aggarwal's Ola Electric, which he likens to Tesla in the West, is zipping towards a stock-market listing after going from zero to 338,000 e-scooter sales in about two years. But he acknowledged service capacity issues and said Ola was "aggressively" bolstering its service network by adding 100 new centres and hiring more technicians. 'TESLA FOR WEST, OLA FOR REST'Aggarwal often declares, "Tesla is for the West, Ola for the rest", and he's a man in a hurry. "Electric vehicles are new to people so they aren't aware of how to ride the vehicle to maximise optimal output," he said.

Persons: Francis Mascarenhas, it's, Elon Musk, Aggarwal's Ola, Tesla, Ola, Devendra Ghuge, Aggarwal, Ola EVs, Ravi Bhatia, Bhatia, Japan's SoftBank, Ronald Radhakrishnan, Koradia, Riddhima Talwani, Aditi Shah, Rishika Sadam, Sriram, Arpan Chaturvedi, Anushree, Pandya, Francis Mascerehnas, Varun Vyas, Munsif, Jatindra, Saurabh Sharma, Sumit Khanna, Jose Devasia, Aditya Kalra Organizations: Ola Electric Service Centre, REUTERS, Staff, Reuters, JATO Dynamics, WEST, OLA, West, Singapore's Temasek, Industry, Hero Electric, TVS, EV, Ola, Fayaz Bukhari, Thomson Locations: Thane, Mumbai, India, THANE, HYDERABAD, DELHI, MUMBAI, Chennai, Bengaluru, India's, U.S, China, Kochi, New Delhi, Bhubaneswar, Lucknow, Ahmedabad, Jose, Srinagar

The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsMUMBAI, Nov 28 (Reuters) - Chinese payments group Alipay plans to sell its 3.4% stake in Indian food delivery giant Zomato (ZOMT.NS) for nearly $400 million through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed. In October, Japan's SoftBank (9984.T) sold a 1.1% stake in Zomato, which is India's biggest food delivery service. In August, China's Antfin sold a 10.3% stake in Indian financial giant Paytm (PAYT.NS).

Persons: Florence Lo, Morgan Stanley, Alipay, Japan's SoftBank, China's Antfin, Sriram, Aditya Kalra, Susan Fenton Organizations: REUTERS, Rights, Ant Group, Reuters, Bank of America, Tech, Thomson Locations: Rights MUMBAI, Zomato

☆ India tunnel collapse: Rescuers begin risky vertical drilling after bid to free trapped Himalayan tunnel workers falters
▼ + stars: | 2023-11-28 | by ( Rhea Mogul | ) edition.cnn.com time to read: +7 min

India airlifted a high-powered drilling machine to assist in the rescue of dozens of road workers trapped underground. “The vertical drilling will disturb the rock formation and will cause vibrations to the mountain,” said Sundriyal, who is considered an expert in local rock formations. “However, it is difficult to say which one of the two methods would help us reach the trapped workers first,” he told reporters Monday. But for most of the families of the trapped men, the wait has been an agonizing switch between hope and despair. One of the trapped workers can be seen on camera.

Persons: Mahmood Ahmed, Yaspal, ”, Sundriyal, Harpal Singh, Mahi Shah, Sonu, Shah, ” Shah, ” Krishna Chauhan, Manjeet, Chauhan, ” Chauhan, Narendra Modi’s Char, Anrold Dix, ” Dix, “ Organizations: New, New Delhi CNN, Engineers, Authorities, India’s Ministry of, Highways, Garhwal, CNN, Roads Organization, Indian, Ministry of Environment, “ Locations: New Delhi, India’s, Uttarakhand, India, Garhwal University, Uttarakhand Government, Bihar, Mumbai, Mizoram, Morbi, Gujarat, Australian

☆ Here's the latest sign India will be a key growth market for Apple
▼ + stars: | 2023-11-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

AAPL YTD mountain Apple (AAPL) performance year-to-date Foxconn's China-based factories have been crucial for the production of iPhones and other Apple products likes MacBooks. Those issues, along with heightened U.S.-China tensions, prompted Apple — and suppliers like Foxconn — to expand into India. CEO Tim Cook has previously told CNBC that India presents a "huge opportunity" for Apple in terms of iPhone sales and manufacturing. And over the summer, Apple announced it had started production on the next-generation iPhone 15 in India. While China's economy remains under pressure post-pandemic, the Indian market offers significant growth opportunities for a company like Apple.

Persons: Apple, Apple —, Tim Cook, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Punit Paranjpe Organizations: Foxconn Technology, Apple, CNBC, Afp, Getty Locations: India, China, Mumbai, Punit

☆ Warren Buffett pays for Indian payments punt
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsMUMBAI, Nov 27 (Reuters Breakingviews) - Berkshire Hathaway’s (BRKa.N) foray into the digital payments industry in India did not go well. Warren Buffett’s investment firm on Friday sold its remaining shares in $7 billion Paytm, some five years after making its initial investment, locking in a more than 20% loss, per Breakingviews calculations. But Berkshire only invested $260 million, barely a blip next to its $700 billion-odd of assets at the time. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Warren Buffett, Rick Wilking, Warren, –, Vijay Shekhar Sharma’s, it’s, Antony Currie, Katrina Hamlin Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Rights, Reuters, Berkshire, X, Thomson Locations: Omaha , Nebraska, Rights MUMBAI, Berkshire, India, Una, China, Rome

Rohingya traditionally take to sea in October, at the end of the rainy season, on journeys fraught with danger. Of 3,572 Rohingya who have left on 34 boats this year, 31% of them were children, data showed. In 2022, one of the deadliest years for the Rohingya at sea, a fifth of the about 3,705 people who fled were children. "Children making the boat journeys was not a trend before," said Mohammed Mizanur Rahman, Bangladesh's refugee relief and repatriation commissioner based in Cox's Bazar. With little hope of settling in Bangladesh or being accepted elsewhere, they feel they have no choice but to take to sea, Rahman said.

Persons: Riska, Chris Lewa, Mohammed Mizanur Rahman, Rahman, taka, Mohammed Taher, Ruma Paul, Sudipto Ganguly, Krishna N, Das, Robert Birsel Organizations: REUTERS, Rights DHAKA, Malaysia, Thomson Locations: Sabang, Aceh province, Indonesia, Bangladesh, Myanmar, Bangladeshi, Cox's Bazar, Arakan, Southeast Asia, Indonesia's Aceh, South Asia, Dhaka, Mumbai

☆ India markets regulator to oversee online platforms offering fraction real estate assets
▼ + stars: | 2023-11-25 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +2 min

A man walks past the Securities and Exchange Board of India (SEBI) headquarters in Mumbai, India, April 19, 2023. REUTERS/Francis Mascarenhas Acquire Licensing RightsMUMBAI, Nov 25 (Reuters) - The board of India's markets regulator on Saturday said it will regulate online platforms offering fractional ownership of real estate assets, and such platforms will be registered under a framework for small and medium real estate investment trusts. In a statement after its quarterly board meeting, the Securities and Exchange Board of India (SEBI) also said that fresh investments by alternative investment funds would be stored electronically from Sept. 2024. But Buch said the rise in equity derivatives trading did not pose any systemic concerns. Concerns regarding SEBI's plan to allow same-day settlement of equity market trades to help retail investors were "exaggerated”, Buch said.

Persons: Francis Mascarenhas, Madhabi Puri Buch, Buch, SEBI, Jayshree, Krishn Kaushik, Alexandra Hudson, Christina Fincher Organizations: Securities and Exchange Board of India, REUTERS, Rights, National Stock Exchange, Thomson Locations: Mumbai, India, Rights MUMBAI

☆ HSBC apologises as thousands of UK customers locked out of digital banking
▼ + stars: | 2023-11-24 | by ( Lawrence White | ) www.reuters.com time to read: +2 min

A man speaks on a mobile phone in front of the head office of HSBC bank in Mumbai November 20, 2008. REUTERS/Arko Datta/File Photo Acquire Licensing RightsLONDON, Nov 24 (Reuters) - Thousands of HSBC (HSBA.L) customers in Britain on Friday reported they were unable to access some mobile and online banking services, the latest in a long-running series of such problems for British banks. "We’re working hard to restore HSBC UK’s Mobile and Online Banking service, including the authorising of online card purchases via the app," a spokesperson for the bank said. "We understand this is really frustrating for some of our customers, and we are really sorry for the inconvenience." "This HSBC outage will cause a real headache for a lot of its customers.

Persons: Arko Datta, Sam Richardson, Lawrence White, Hugh Lawson, Louise Heavens Organizations: HSBC, REUTERS, HSBC UK’s Mobile, Banking, Consumer, Bank of England, Thomson Locations: Mumbai, Britain

☆ Afghan embassy in India shuts down citing lack of support, Taliban pressure
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

People are seen outside the Afghanistan embassy in New Delhi, India, September 29, 2023. An embassy statement posted on X, formerly known as Twitter, on Friday said that period in limbo was over, and the embassy was shutting and the keys had been given to the host government. "Given the constant pressure from both the Taliban and the Indian government to relinquish control, the embassy faced a difficult choice," the statement added. Afghan diplomats in India appointed by Ghani's government have reached third countries and there are none remaining in India, the embassy statement said. "The only individuals present in India are diplomats affiliated with the Taliban, visibly attending their regular online meetings," the statement said.

Persons: Anushree, Farid Mamundzay, Mamundzay, Shivam Patel, Simon Cameron, Moore Organizations: REUTERS, Taliban, Thomson Locations: Afghanistan, New Delhi, India, DELHI, Europe, U.S, Mumbai

☆ India set to miss divestment targets by more than half this year - sources
▼ + stars: | 2023-11-24 | by ( Nikunj Ohri | ) www.reuters.com time to read: +3 min

The government may fall short of its divestment goal by 300 billion rupees ($3.60 billion) in 2023/24, two government sources told Reuters. New Delhi had targeted 510 billion rupees from divestment proceeds for the current fiscal year that ends March, 2024. So far this year, the government has received 80 billion rupees through stake sales, according to government data. The government expects to surpass its 430 billion rupees dividend target and has so far received 203 billion rupees from state-run firms. "As long as the government is meeting its fiscal targets and there isn't a shortfall, missing divestment targets is fine," said Rahul Bajoria, an economist at Barclays Investment Bank.

Persons: Niharika Kulkarni, Narendra Modi's, Subhash Chandra Garg, Rahul Bajoria, Nikunj Ohri, Sam Holmes Organizations: IDBI, REUTERS, Reuters, IDBI Bank, NMDC Steel, Reserve Bank of India, NMDC, Barclays Investment Bank, Thomson Locations: Mumbai, India, DELHI, New Delhi, Chhattisgarh

Oil prices fell about $1 a barrel after OPEC postponed until next week a meeting to discuss production cuts. The oil cartel has been maintaining a tight market for crude oil with production cuts. It is expected to extend those cuts after oil prices have fallen after a spike in the summer to almost $100 a barrel. Markets in Greater China have been swaying in reaction to moves by Chinese regulators to prop up the ailing property market. A 0.9% drop in oil prices weighed on energy companies.

Persons: Seng, Nordstrom, Swissquote, they’ll, Brent Organizations: Garden, Dow, Nasdaq, . Technology, Microsoft, Google, Broadcom, VMWare, Energy, Exxon Mobil, Halliburton, Nvidia, Department, University of Michigan, Federal, ” Fed, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Japan, U.S, Shanghai, Greater China, South Korea, Taiwan, Mumbai, China, Turkey

BANGKOK (AP) — Shares slipped in Asia on Wednesday, tracking a decline on Wall Street a day after stocks there hit their highest level since the start of August. Troubled property developer Sunac China Holding's shares rose 2.3% as state media reported it had completed a restructuring of its $90 billion in debts. Retailers were mixed after several reported their earnings for the latest quarter and, more importantly, their forecasts for the upcoming holiday shopping season. Lowe’s sank 3.1% despite reporting better profit for the latest quarter. Best Buy dipped 0.7% after likewise beating analysts’ expectations for profit in the latest quarter but falling short on revenue and cutting its forecast for the full year.

Persons: OpenAI's, Sam Altman, Altman, Satya Nadella, OpenAI, “, ”, Bret Taylor, Larry Summers, Adam D’Angelo, Australia's, Stocks, Brent Organizations: Microsoft, U.S ., Federal Reserve, University of Michigan, Nikkei, China, Dow Jones, Nasdaq, Lowe’s, Dick’s, Goods, Federal, Deutsche Bank, Fed, Treasury, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Tokyo, Mumbai, U.S, Japan, OpenAI, Francisco, Adam D’Angelo ., Seoul, Hong Kong, Shanghai, Taiwan, Thailand

☆ Cricket World Cup 2023: Polluted air the common opponent
▼ + stars: | 2023-11-22 | by ( Vijdan Mohammad Kawoosa | ) www.reuters.com time to read: +12 min

Air quality during 2023 Cricket World Cup matchesChart categorises the 2023 cricket World Cup matches held in 10 Indian cities by the air quality observed during the matches they hosted. Twenty matches were held in ‘unhealthy’ air quality, 11 in air that was ‘unhealthy for sensitive groups’, 12 in ‘moderate’ air quality and only two in ‘good’ air quality. Average 24-hour PM 2.5 levels on all cricket World Cup match days between 1983 and 2019Chart shows average PM 2.5 concentration on match days at places that hosted a cricket World Cup match between 1983 and 2019. Of all the regions that have ever hosted a cricket World Cup match, the Indian subcontinent has seen the most polluted air. Map shows average annual PM 2.5 levels in 2019 across the world and locations that have ever hosted a cricket World Cup match.

Persons: Delhi’s Arun, Arun Jaitley, ITO, Chandika Hathurusinghe, Joe Root, Ben Stokes, Suranga Lakmal, Mohammad Shami vomited Organizations: Sri Lankan, teams, Arun, ITO, Labs Inc, . Environmental Protection Agency, Delhi, United States Environment Protection Agency, U.S . Environmental Protection Agency, World Health Organization, Indian, Matches, Daily, International Cricket Council, Endurance Locations: New Delhi, Delhi, Lahore, Pakistan, Australia, Netherlands, India, ITO, Sri Lanka, England, Indian, Mumbai, Bengaluru, Kolkata, Sri Lankan, U.S, Canberra, United States, China, Bangladesh

☆ India cancels bid process to hire valuer for IDBI Bank sale
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

The logo of IDBI Bank is seen on the facade of its headquarters in Mumbai, India, April 18, 2023. REUTERS/Niharika Kulkarni/File Photo Acquire Licensing RightsNov 21 (Reuters) - The Indian government has cancelled the bidding process to hire an asset valuer for its planned IDBI Bank (IDBI.NS) share sale, according to a statement. The government will invite fresh bids to select a valuer for its stake in the lender, said a statement from the Department of Investment and Public Asset Management on Tuesday. India is looking to offload its 30.48% stake in IDBI Bank, while Life Insurance Corp (LIC) (LIFI.NS) of India will sell a 30.24% shareholding. Presently, the Indian government and LIC collectively own about 95% of IDBI Bank.

Persons: Niharika Kulkarni, LIC, Tuhin Kanta Pandey, Nikunj Ohri, Matthew Lewis Organizations: IDBI, REUTERS, Bank, Department of Investment, Public Asset Management, Life Insurance, IDBI Bank, Thomson Locations: Mumbai, India, IDBI Bank, New Delhi, Bengaluru

☆ Indians are spending big on travel, but most of that money isn't leaving the country
▼ + stars: | 2023-11-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +2 min

The world famous Gateway of India monument in Mumbai, India was built during the 20th century to commemorate the visit of king George V and Queen Mary. India's travel landscape is changing as the country emerges as a powerhouse in the tourism sector. Their willingness to spend big while traveling is going, but research shows that most Indians are traveling domestically — not overseas. Indian travelers took 1.7 billion leisure trips in 2022 but most never left the country, and only about 1% traveled abroad, according to Booking.com and McKinsey. Here are the top 10 spots for Indians traveling within their own country, according to Booking.com and McKinsey.

Persons: George V, Queen Mary, McKinsey Organizations: McKinsey, McKinsey Mumbai, CNBC Locations: India, Mumbai, McKinsey ., Delhi Bengaluru Mumbai Chennai Pune Hyderabad, Jaipur Kochi Kolkata, New Delhi, Bengaluru, Chennai, Kochi

The deadline to submit takeover bids ends on Tuesday, and the sources told Reuters Jindal had decided against bidding after evaluating the airline's financial statements. "The EoI was largely to check the valuation of the airline and get access to the company's data," said one of the sources. Jindal Power and Go First's resolution professional did not reply to emails seeking comment. The Central Bank of India (CBI.NS), Bank of Baroda (BOB.NS), IDBI Bank (IDBI.NS) and Deutsche Bank (DBKGn.DE) are among the top creditors to the airline. Both bankers said the liquidation of the airline was now the most likely option as there were no serious bidders.

Persons: Francis Mascarenhas, India's, Reuters Jindal, Jindal, Banks, Siddhi Nayak, Sarita Chaganti Singh, Miral Organizations: REUTERS, Rights, India's Jindal Power Ltd, Reuters, Jindal Power, Bankers, Central Bank of India, Bank of Baroda, IDBI Bank, Deutsche Bank, Siddhi, Thomson Locations: Shivaji, Mumbai, India, Rights MUMBAI, Bank, BOB.NS, Delhi

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