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Chinese Real Estate Industry Faces Deepening Crisis as Giants Struggle to Repay Debts-thumnail

Chinese Real Estate Industry Faces Deepening Crisis as Giants Struggle to Repay Debts

China’s real estate industry is experiencing a severe downturn, with stocks and bonds in the sector hitting eight-month lows. The country’s two largest developers, Country Garden and Dalian Wanda, are

Industry

Jul 24, 2023

Motion G; Singapore-based AI-driven generative engineering platform raises $16 mn-thumnail

Motion G; Singapore-based AI-driven generative engineering platform raises $16 mn

Motion G, a company based in Singapore recently secured $16 million, in funding through a funding round led by Episteme Inc. Their goal is to revolutionize the field of engineering by enhancing productivity through the use of machine learning, data science, AIGC, and digital twin technologies.

Artificial Intelligence

Jul 24, 2023

Byju’s financially stressed ed-tech firm vacates its largest office space in Bengaluru-thumnail

Byju’s financially stressed ed-tech firm vacates its largest office space in Bengaluru

Byjus, the leading educational technology company, in India, has made a decision to downsize its office space in Bengaluru as a cost-cutting measure due to funding delays. Additionally, they have

Education

Jul 24, 2023

Bitcoin regains $30,000; traders await Fed’s rate hike decision on 27th July-thumnail

Bitcoin regains $30,000; traders await Fed’s rate hike decision on 27th July

Cryptocurrency markets, in Asia, saw a mix of movements with Bitcoin bouncing above the US$30,000 support level before pulling while Ether climbed to US$1,900. Among the 10 cryptocurrencies, the Cardanos ADA token showed gains. The U.S. Investors are preparing for earnings reports. Keeping an eye on the rate hike during the Federal Reserves ‘ day meeting. The SEC’s ruling, on Ripple, is expected to face challenges. NFTs and U.S. Equity futures remained relatively stable in trading. The total market capitalization of cryptocurrencies reached US$1.20 trillion, accompanied by increased trading volume.

Business

Jul 24, 2023

Reliance Industries Shares Slump on Disappointing Profits Amid Concerns Over Key Businesses-thumnail

Reliance Industries Shares Slump on Disappointing Profits Amid Concerns Over Key Businesses

Shares of Reliance Industries (RELI.NS), India’s largest company by market capitalization, experienced a significant setback on Monday as the conglomerate reported a larger-than-expected drop in profit, leading to a nearly 3% decline. This comes on the back of a 3.1% slide in the stock on Friday, just before the release of the financial results. Earlier this month, the stock had rallied over 13%, reaching a record high before the demerger of Jio Financial Services last Thursday. The recent stock performance has raised concerns about the company’s flagship oil-to-chemicals (O2C) business, which had experienced record-high refining margins last year due to the surge in fuel demand following the post-pandemic recovery.

Business

Jul 24, 2023

India’s Media and Entertainment Industry: Bollywood, Digital Streaming, and Content Evolution-thumnail

India’s Media and Entertainment Industry: Bollywood, Digital Streaming, and Content Evolution

The Media and Entertainment (M&E) industry has experienced growth and transformation over the years. Factors such as internet access, economic growth, and increased consumer spending have played a role in its popularity.

Entertainment

Jul 24, 2023

US junk loan market hits by flurry of credit downgrades-thumnail

US junk loan market hits by flurry of credit downgrades

As rising borrowing costs put pressure on companies who are heavily indebted with floating-rate debt, the $1.4 trillion hazardous corporate loan market in America has been rocked by the largest

Finance

Jul 24, 2023

Byju’s and group of creditors have agreed mutually to restructure $1.2 billion loan terms.-thumnail

Byju’s and group of creditors have agreed mutually to restructure $1.2 billion loan terms.

Byjus, a startup, in the education technology sector based in India is currently experiencing difficulties as a consortium of lenders aims to reevaluate the terms of a loan $1.2 billion.

Business

Jul 24, 2023

US plans water heater standards that will save consumers $11 billion-thumnail

US plans water heater standards that will save consumers $11 billion

The U.S. Department of Energy proposed energy efficiency guidelines for water heaters on Friday, claiming that doing so would result in yearly consumer savings of $11.4 billion on energy and

Business

Jul 22, 2023

Russia’s Central Bank Surprises with Significant Interest Rate Hike Amid Inflation Pressure-thumnail

Russia’s Central Bank Surprises with Significant Interest Rate Hike Amid Inflation Pressure

In a surprising move, the Central Bank of Russia hiked its key interest rate by 100 basis points to 8.5% on Friday, a decision aimed at curbing inflationary pressures in

Economy

Jul 22, 2023

American Air Offers to Increase Pilot Deal by $1 Billion-thumnail

American Air Offers to Increase Pilot Deal by $1 Billion

American Airlines Group Inc. has boosted the amount of the contract offer it is making to its pilots by more than $1 billion in an effort to win their approval

Business

Jul 22, 2023

Go Airlines (India) Ltd Faces 240 Billion Rupee ($2.9 Billion) Claims Amid Ongoing Insolvency-thumnail

Go Airlines (India) Ltd Faces 240 Billion Rupee ($2.9 Billion) Claims Amid Ongoing Insolvency

Go Airlines (India) Ltd, the parent company of Go First carrier, has been dealing with a challenging situation as it faces insolvency. The airline recently received claims amounting to 240

Finance

Jul 22, 2023


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