China’s economic growth beat expectations in the first quarter, as factory output led the expansion bolstering expectations the government can hit its ambitious annual target.Gross domestic product increased 5.3% in the January-to-March period from a year earlier, data released by the National Bureau of Statistics showed Tuesday. That’s higher than the median estimate of 4.8%…
NEW DELHI: The Securities and Exchange Board of India (Sebi), the country’s market regulator, has announced the launch of an optional same-day (T+0) settlement cycle for a select group of 25 stocks starting March 28, as per a circular published on its website last Thursday. This new initiative, referred to as the beta version, is…
Adani group plans to invest more than Rs 1.2 lakh crore (about $14 billion) across its portfolio companies that range from ports to energy, airports, commodities, cement and media in fiscal year starting April 1, as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, sources said.The…
China’s big stock-market declines aren’t enough to warrant putting money in the country, according to the chief investment officer of Goldman Sachs Group Inc.’s wealth-management business.“All our clients are asking us that question — given how cheap China appears, people inevitably say, well, has it discounted the worst news?” Sharmin Mossavar-Rahmani said in a Bloomberg…
BEIJING: China will boost defence spending by 7.2% this year, a rise that is at the same pace as last year but faster than the government economic growth forecast, according to an official work report reviewed by Reuters on Tuesday. The budget showed 1.67 trillion yuan ($230.60 billion) allocated to military spending. The defence budget…
MUMBAI: Even as major investors seek removal of Byju’s founder and group CEO Byju Raveendran from leadership position and reconstitution of the company’s board — which has pretty much been reduced to a family-run entity — Raveendran has given a clear indication that he is not going to step down from the top post. The…
MUMBAI: Growth of bank credit to industry decelerated to 6.1 per cent in November as against 13 per cent recorded in the same month last year, according to data released by the Reserve Bank of India (RBI) on Friday. Among major industries, year-on-year credit growth to basic metal & metal products, food processing and textiles…
