Asian Market Digest & Financial PulseÂ
Twitch Shuts Its Services In South Korea Amazon’s global streaming platform Twitch has shut down its services in South Korea. The reason for this decision is the high operating costs in South Korea. The CEO of Twitch, Dan Clancy, said that the company has been operating in South Korea at a loss, and it is…
Chandan Kumar
RBI To Retain Repo As Inflation Remains In Check
The Reserve Bank of India is all set to retain 6.5% short-term interest rates in its monetary policy review as inflation remains in its comfort zone and the economy’s growth rate increases steadily. The Governor of RBI, Shaktikanta will lead the 3-day deliberation of MPC from 6 to 8 December and can make the said…
Shipra Prajapati
Ultratech To Buy Kesoram Industries’ Cement BusinessÂ
Kumar Mangalam Birla’s Ultratech is all set to take over the cement business from Kesoram Industries in an all-stock deal. Both companies disclosed the deal in separate announcements. Although there is not much information available about the deal right now, sources say that the deal is worth somewhere around ₹7600 crore, including a ₹1700 crore…
Vipin
India’s Equity Market Cap Touches $4 Trillion Mark
A few weeks ago we heard that that India will soon cross the $4 trillion mark, and now that news has come to fruition. Indian Equity market cap has finally reached the $4 trillion mark. The total market cap of all the stocks listed on the  BSE hit an all-time high figure of ₹ 333…
India All Set To Become New Growth Engine, Not China: S&P
Asia has been going through some significant changes in the last few years; one of the major changes happening is the shifting of the global manufacturing hub from China to India. Many companies, including giants like Apple and Tesla, are also looking to establish manufacturing units in India. Apple has even started pumping out its…
Abdullah Ansari
US Chips Act Threatens To Dismantle Asian Chip Industry
In this day and age, technology is at the forefront of things. In order to keep manufacturing new tech, we need more semiconductor chips which are made by Asian countries. Now, the US has passed a bill to promote semiconductor manufacturing in America. Today, 70% of semiconductors manufactured globally are from Asia. The US plans…
Citigroup Cuts 300 Manager Roles To Reorganise The Firm
The third-largest American bank and one of the biggest banking firms in the world, Citigroup has announced that they will be cutting off 300 manager roles in an attempt to reorganise the firm. Around 10% of the workforce from total managerial roles within the firm will lose their position. A statement published by the bank…
Larsen & Toubro Slapped With A ₹238.9 Crore Penalty
Indian conglomerate and one of India’s biggest companies, Larsen & Toubro has been fined ₹238.9 crore by the Qatar government. The government has said that the company’s declared income turned out to be more than what they had reported. The government did an assessment and came to this conclusion. The company has received this penalty…
Google And Malaysia Join Hands For Digital Transformation
The landscape of technology in the world is changing every day, and Asia has emerged as one of the most important players. For this reason, many tech giants are investing in South Asian countries to develop infrastructure and boost the country’s economy. Adding on to this trend, Google and its parent company, Alphabet has announced…
Apple Agrees To Pay $25 Million In Settlements
The world’s biggest tech company, Apple Inc. will pay $25 million to the US Justice Department after the agency accused Apple of hiring immigrant workers over US citizens and green card holders for certain jobs. In a statement, the US Justice Department said that Apple did not hire US Citizens and permanent residents for certain…
Yash Sharma