IMF: Global economic outlook slightly ‘less gloomy’ than expected

London CNN — The global economy will weaken this year as well rising interest rates and Russia’s war in Ukraine continues to weigh on activity. But economists are more optimistic than they were just a few months ago. The International Monetary Fund said Monday that it now expects global growth will slow from 3.4% in … Read more

India’s Adani firms lose $65bn in value | Business and Economy News

Most Adani Group shares fell sharply on Monday as the Indian conglomerate’s rebuttal of a US short seller’s criticism failed to pacify investors, deepening a market rout that has now led to losses of $65bn in the group’s stock values. Led by Asia’s richest man Gautam Adani, the Indian group has locked horns with Hindenburg … Read more

Gandhi’s 150-day march is over. But will it revive Congress? | Politics News

New Delhi, India – Hundreds of people on Monday defied the harsh Himalayan cold as they gathered in Srinagar, the largest city in Indian-administered Kashmir, to join opposition leader Rahul Gandhi on the last day of his nearly 150-day cross-country “unity” march. Launched on September 7, 2022 from the country’s southernmost tip of Kanyakumari in … Read more

Adani Group slams Hindenburg ‘attack on India’ as stock rout hits $70 billion

New Delhi CNN — The Adani Group has accused a US investment firm of launching “a calculated attack” on India by publishing a report alleging widespread fraud at the ports-to-power conglomerate. Hindenburg Research released its report on billionaire Gautam Adani’s business last week, accusing the group of “brazen stock manipulation and accounting fraud scheme over … Read more

Asia shares turn cagey as rate hikes, earnings loom Fed seen hiking 25bp this week, ECB and BOE by 50bp Tech giants lead host of earnings results China shares up as holiday travel surges SYDNEY, Jan 30 (Reuters) – Asian shares turned cagey on Monday ahead of a week that is certain to see interest rates rise in Europe and the United States, … Read more

Adani hits back at Hindenburg, says it made all disclosures

Adani issues 413-page rebuttal to Hindenburg report US short-seller’s report sparked falls in Adani shares Adani says it complies with laws, necessary disclosures Adani CFO confident $2.5 billion share sale will succeed NEW DELHI, Jan 30 (Reuters) – India’s Adani Group issued a detailed riposte on Sunday to a Hindenburg Research report that sparked a … Read more

Rheinmetall eyes boost in munitions output, HIMARS production in Germany

DUESSELDORF, Jan 29 (Reuters) – German arms-maker Rheinmetall is ready to greatly boost the output of tank and artillery munitions to satisfy strong demand in Ukraine and the West, and may start producing HIMARS multiple rocket launchers in Germany, CEO Armin Papperger told Reuters. He spoke days before Germany’s defense industry bosses are due to … Read more

India’s Gautam Adani: Asia’s richest man in the eye of a storm

NEW DELHI, Jan 27 (Reuters) – India’s Gautam Adani, the school drop-out turned billionaire who rose to become Asia’s richest man, faces possibly the biggest challenge of his career after a US short seller cast doubts on his business practices, hammering shares. in his companies and his reputation. Adani, whose home state is Gujarat in … Read more

India’s Adani slammed by $45 billion stock rout, clouding record share sale

MUMBAI, Jan 27 (Reuters) – Shares of India’s Adani Enterprises (ADEL.NS) sank nearly 20% on Friday as a scathing report by a US short seller triggered a rout in the conglomerate’s listed firms, casting doubts on how investors will respond to the company’s record $2.45 billion secondary sale. Seven listed companies of the Adani conglomerate … Read more

Tata’s Air India to seal half of jumbo plane order – sources

NEW DELHI, Jan 27 (Reuters) – Air India will on Friday seal half of an order for some 495 jets with Boeing (BA.N) and engine suppliers General Electric (GE.N) and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. After months of closely guarded, tough … Read more