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[1/2] Visitors check a Tesla Model 3 car at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023. REUTERS/Florence LoCompanies Tesla Inc FollowNEW DELHI, May 18 (Reuters) - Tesla Inc (TSLA.O) asked how it could take part in domestic incentives in India related to car and battery manufacturing when it held discussions with government officials this week, a source with direct knowledge of the talks told Reuters. The electric car maker proposed setting up a factory in India to build electric vehicles (EV) and also discussed plans to locally manufacture EV batteries, the person said. The proposal comes after talks between Tesla and India were deadlocked last year over the car maker's request to lower the import tax on cars, which can reach as much as 100%. India wanted the car maker to build vehicles locally but Tesla wanted to test the market first with imports.

☆ These are the 6 best long-term investing opportunities right now, according to a global portfolio management head at Goldman Sachs
▼ + stars: | 2023-05-18 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Investors should take a long-term view of the market, according to Luke Barrs of Goldman Sachs Asset Management. A long-term focus keeps Barrs level-headed when faced with a constant barrage of concerns that leads some to panic-sell. 6 places to put your money right nowAfter breaking down his investing philosophy, Barrs shared six investments he likes right now. Going forward, emerging markets stocks should benefit from a weaker US dollar, stronger earnings, and China's continued economic reopening, which is leading to a tourism boom. Within emerging markets, Barrs especially likes India.

Health Minister Mansukh Mandaviya and federal and state regulators attended the session in February, according to a statement from the health ministry that did not mention cough syrups. A source with knowledge of the matter said the policy change could mean increased oversight of India's $41 billion pharmaceutical industry, which is the world's largest supplier of generic medicines. Increased testing of cough syrups as well as of raw materials for drugs in general is one of the steps being considered, said the source. India has acted against a second Indian company whose cough syrups were linked to the deaths of 19 kids in Uzbekistan, including the arrest of three of its employees. Indian health officials have expressed concern that the incidents of contaminated syrups will harm its pharmaceutical industry.

☆ Russia admits there are 'problems' with energy revenues plunging over 50% in the first quarter of 2023 — and blamed them on 'all these discounts': report
▼ + stars: | 2023-05-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Siluanov blamed "all these discounts" for causing a 50% slump in energy revenues in the first quarter of 2023, per the FT. Russia exported an average of 7.7 million barrels of crude oil each day in 2022. Willing buyers of Russian oil include China and India, which now account for about 90% of Russian oil purchases, commodities analytics firm Kpler said in April. India and Chinese oil buyers, too, demand huge discounts for their Russian oil purchases. Russia's flagship Urals crude is trading at around a $20 per barrel discount to benchmark US and Brent crude oil currently.

The proposal comes after India refused to agree to Tesla's request last year to lower the import tax on cars, which can reach as much as 100%. India wanted the carmaker to build vehicles locally but Tesla wanted to test the market first with imports and the talks ended in deadlock. While Tesla did not discuss lower import taxes with Indian officials, it proposed setting up a new factory, albeit without specifying a location or investment, said the source, who declined to be named as the talks were private. Senior Tesla executives are in India this week to meet the government to discuss local sourcing of parts and other issues, Reuters reported on Tuesday. Tesla met officials from Modi's office and other ministries on Wednesday, said the person and another source familiar with the matter.

The proposal comes after India refused to agree to Tesla's request last year to lower the import tax on cars, which can reach as much as 100%. India wanted the carmaker to build vehicles locally but Tesla wanted to test the market first with imports and the talks ended in deadlock. Senior Tesla executives are in India this week to meet the government to discuss local sourcing of parts and other issues, Reuters reported on Tuesday. Tesla met officials from Modi's office and other ministries on Wednesday, said the person and another source familiar with the matter. Tesla had hired a local team and began a search for showroom space, but that was also abandoned last year.

☆ India’s airline turbulence will be felt abroad
▼ + stars: | 2023-05-17 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

India’s Go First has gone into bankruptcy – the country’s second airline to do so since 2019. Its subsequent public and messy spat with engine suppliers and lessors will have ripple effects across the industry and abroad. Go, the country’s third largest airline with a 7% market share, blames Raytheon Technologies-backed (RTX.N) Pratt & Whitney’s “faulty” engines. A global industry association, Aviation Working Group, has put India on a watchlist for violating global conventions on repossession of airplanes. The trouble at Go may not put them off but it promises some extra turbulence ahead.

☆ Opinion | At 75, Israel Has Plenty to Celebrate
▼ + stars: | 2023-05-16 | by ( Bret Stephens | ) www.nytimes.com time to read: +2 min

The Jewish state turned 75 on Sunday, mostly in a sour mood. The country is governed by a coalition that includes political extremists, proud homophobes, ideological monomaniacs, and the merely corrupt. Its peer group of countries includes Syria, Pakistan, India, Indonesia, Myanmar, Sri Lanka and North and South Korea. As with Israel, many of those problems still dog most of those states. Those who think the Palestinian issue is unique should consider the situation of Kashmiris in India, Tamils in Sri Lanka, or Kurds in Syria.

☆ Explainer: Why El Nino is a concern for Indian monsoon rains?
▼ + stars: | 2023-05-16 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +4 min

However, a 90% likelihood of an El Nino weather pattern developing during the June-September monsoon season raises the possibility of less than normal rain. WHAT IS EL NINO? As a result, the Indian monsoon tends to be weaker and less reliable during El Nino years. HOW CLOSE IS THE CORRELATION BETWEEN EL NINO AND MONSOON RAIN? The correlation between El Nino and Indian monsoon rainfall is significant, despite occasional instances when India gets normal or above-normal rain during El Nino years.

☆ Indian rupee to see more losses on dollar spike and higher U.S. yields
▼ + stars: | 2023-05-15 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, May 15 (Reuters) - The Indian rupee is expected to weaken on Monday, adding to last week's losses, tracking a rally on the dollar index and higher U.S. yields on worries surrounding U.S. inflation. The dollar index climbed 0.6% on Friday to reach its highest level in a month and the two-year U.S. yield was back to nearly 4%. Renewed worries over the inflation outlook in the U.S. pushed yields higher and supported demand for the dollar. "Their assessments of whether recent labour market and inflation data support pausing in June or not will be scrutinised," ANZ said in a note. India's inflation data was "supportive" of the rupee in the medium term, the trader said.

☆ Companies are betting on a demand rebound in second half of year, DHL says
▼ + stars: | 2023-05-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

That marks the second consecutive month that U.S. imports increased and are higher than 2019 levels, according to data provided to CNBC from Descartes Datamyne, a global trade data platform. The combination of a slow ramp up from "Zero Covid" in China and the reopening of manufacturing plants in the country delayed exports. The top Vietnamese imports in the latest data are wrought iron fencing and plant stands, imported for companies including Home Depot. Black jewelry bags for Zales and men's and boy's t-shirts for Nike rounded out the list of U.S. imports data from China, Vietnam, Thailand, and India reviewed by CNBC. In April, the trade data shows that vitamins and containers of pencils were bound from India to Walmart , and zip polos and t-shirts for Guess .

☆ Geopolitics is shrinking India’s risk premium
▼ + stars: | 2023-05-09 | by ( Una Galani | ) www.reuters.com time to read: +7 min

They are lured by a country whose potential as an alternative investment destination to China increasingly outweighs the local challenges of doing business. India’s $3 trillion economy is forecast to grow by 6.5% this fiscal year, continuing to outpace the rest of the world. Executives and investors also see a business-friendly government that is likely to remain in power for the next half-decade. Morgan Stanley analysts and strategists expect India to become the world’s third-largest economy and stock market before the end of the decade. The India risk premium is rapidly disappearing.

☆ North America’s best bar for 2023 serves pizza cocktails
▼ + stars: | 2023-05-06 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

CNN —This week in travel news: Crowns are handed out to pizza joints, bars and an English king. And we reveal why going on a hiking trip might be one of the best ways to find love. Award-winning bars and restaurantsDouble Chicken Please, a cocktail bar-slash-chicken joint on New York’s Lower East Side, took the No.1 spot in North America’s 50 Best Bars 2023. A newly published Italian list names the Best Pizza in Europe 2023, all outside the home country. King Charles gets his crownThis is what you can expect to see at King Charles III's coronation 04:04 - Source: CNNLondon airports were expected to greet more than 2 million arrivals this week, according to aviation analytics firm Cirium, as the country prepares for the coronation of King Charles III on Saturday.

☆ Club meeting recap: Stocks jump, Apple shines, P&G
▼ + stars: | 2023-05-05 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stocks jump Apple shines P & G sale 1. P & G sale Our positive view on Procter & Gamble (PG) is not changing, despite our 100-share sale Friday morning . THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ China assures Russia, India of deepening 'cooperation'
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +3 min

[1/3] India's Foreign Minister Subrahmanyam Jaishankar and his Chinese counterpart Qin Gang pose for a photograph during the SCO Council of Foreign Ministers' meeting in Goa, India, May 4, 2023. Currently the bloc includes Russia, India, China, Pakistan and four Central Asian countries - Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran and Belarus are expected to be inducted into the SCO at a summit in New Delhi in July, an Indian foreign ministry official said. In a separate meeting with Indian Foreign Minister Subrahmanyam Jaishankar, Qin said China is willing to deepen "coordination and cooperation" on international and regional issues with India and bring ties back to a "healthy" track of development. China's ties with India have deteriorated since 2020, when their troops clashed on a disputed Himalayan border and 24 people were killed.

☆ Apple stakes future growth on emerging markets, starting with India
▼ + stars: | 2023-05-05 | by ( Stephen Nellis | ) www.reuters.com time to read: +3 min

[1/2] Apple CEO Tim Cook gestures during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023. Cook is betting that those markets will provide more opportunities for growth, with their youthful populations and relatively few iPhones. "We're putting efforts in a number of these markets and really see, particularly given our low share and the dynamics of the demographics, a great opportunity for us in those markets," Cook told investors during a conference call. India led the growth with a 19% jump, according to Counterpoint, with iPhones accounting for 11% of secondary smartphone sales in India. In an interview with Reuters on Thursday, Apple's Cook said little of Apple's direct iPhone revenue comes from refurbished devices.

India started exploring a rupee settlement mechanism with Russia soon the invasion of Ukraine in February last year, but there has been no reported deal done in rupees. "We don't want to push rupee settlement any more, that mechanism is just not working. Another official said both countries have started looking for alternatives after the rupee settlement mechanism did not work out but did not give details. Reuters GraphicsTRADE ON TRACKThe sources said trade with Russia has been continuing despite sanctions and payment issues. So payments are being made to a third country which route it or offset it for their trade with Russia," the other official said.

☆ Der Spiegel cartoon of India reopens old wounds in world's new most populous country
▼ + stars: | 2023-05-04 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

The illustration, published last month in German news magazine Der Spiegel, shows a throng of jubilant Indians on an old and overcrowded locomotive – many standing on the roof – as it overtakes a sleek Chinese bullet train. But more than three quarters of a century later, critics of the Der Spiegel cartoon say it is unfair to view India through the lens of poverty. CNN has reached out to Der Spiegel for comment. Sankhadeep Banerjee/NurPhoto/Getty Images‘Suck up to China’The Der Spiegel cartoon “plays with very old fashioned clichés,” Germany’s ambassador to India, Philipp Ackermann, told Indian news agency ANI. “Der Spiegel caricaturing India in this manner has no resemblance to reality,” Gupta, the senior government adviser wrote on Twitter.

☆ Apple's quarter eases concerns about mobile device demand, with a China sales beat to boot
▼ + stars: | 2023-05-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Revenue in Apple's fiscal second quarter of $94.84 billion dropped 3% year-over-year but beat expectations of $92.96 billion. Bottom line Apple bounced back nicely from the supply-constrained December quarter to deliver record March quarter results across a few key categories and metrics. It's hard to tell if Apple's results were enough to send shares in the near term back to all-time highs of about $176 each, set back in August. In its March quarter, Apple returned $23 billion via the repurchase of 129 million shares valued at $19.1 billion and $3.7 billion in dividends. For the current June quarter, Apple expects year-over-year revenue performance to be similar to the March quarter result, assuming no worsening macro outlook.

☆ India's ties with Russia remain steady. But Moscow's tighter embrace of China makes it wary
▼ + stars: | 2023-05-03 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

(PRAKASH SINGH/AFP via Getty Images) Prakash Singh | Afp | Getty ImagesIndia's relationship with Russia remains steadfast as both sides seek to deepen their economic ties. Russia also wants to "intensify" free trade discussions with India, Deputy Prime Minister Denis Manturov said during a visit to Delhi. watch nowIt's becoming "more difficult with every passing day because of the closeness that we are witnessing between Beijing and Moscow," Pant noted. This defense cooperation is vital given India's tensions along the Himalayan border with an increasingly assertive China, said ORF's Pant. Now, the country cannot expect Russia to play "the same strategic role for India as it used to prior to the Ukraine war.

We’ve dedicated (our lives) to our country.”Wrestlers perform exercise drills at the protest site in Jantar Mantar, New Delhi, on April 28, 2023. Vijay Bedi/CNNIn January, India’s sport ministry said it would investigate the sexual harassment allegations, but three months on, the wrestlers say the government hasn’t moved swiftly enough. Olympic medalist Sakshi Malik told CNN that back in January the wrestlers’ allegations were met with apathy, adding there was no transparency with the governing body’s initial investigation. Support for wrestlers growsBy midday on Friday, the protest site swells with supporters, young and old. India’s legal system is notoriously slow, especially when it comes to allegations of sexual harassment owing to a large backlog of allegations.

☆ De-dollarization and global reserves dominance, explained by a top currency economist and the inventor of the 'dollar smile' theory
▼ + stars: | 2023-04-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Stephen Jen, CEO of Eurizon SLJ Eurizon SLJStephen Jen is a leading economist, the cofounder and CEO of Eurizon SLJ, and inventor of the "dollar smile" theory. Phil Rosen: You pointed out recently that the dollar saw a steep erosion in 2022 as a global reserve currency. More likely, we will evolve from a unipolar reserve currency world to a multi-polar world. Here's what he said on a potential "tripolar" reserve currency setup if the dollar loses dominance. And here are the top stories from markets this week:Lauren Simmons, a trader at the New York Stock Exchange.

☆ He bought a budget airline for 30 cents in 2001 and turned it into one of Asia's top budget airlines. Now, he's ready to walk away.
▼ + stars: | 2023-04-26 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

In September 2001, Fernandes bought the AirAsia brand from a Malaysian government-owned conglomerate for the equivalent of 30 cents at the time. And he's ready to walk away: "Good leadership is to know when to go," he told Bloomberg in an interview published Tuesday. And though he's already talking about plans to replace him, Fernandes doesn't know "exactly when I press the button." Newly privatized carrier Air India appointed an executive of Scoot, the low-cost arm of Singapore Airlines, as CEO in June. There were also airline executive reshuffling at American Airlines and Southwest Airlines in December.

☆ Tim Cook is bullish on India being the new China for Apple. These 3 charts show there's a long way to go.
▼ + stars: | 2023-04-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

This first store comes 14 years after Apple first opened in China, and Cook has sometimes compared the two markets. And so I'm very, very bullish and very, very optimistic about India," Cook told investors on an earnings call in 2017. In the same year, Apple only took 6% of the market share in India compared to Android's 94%. Apple has increased iOS device sales over the years to claim 17% market share from rivals, per Counterpoint Research's data. For Cook, India could offer similar tantalizing growth.

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