German Chancellor Olaf Scholz's visit to India for the 7th India-Germany Inter-Governmental Consultations aims to enhance economic collaboration, particularly in emerging sectors like electric mobility. This visit follows the release of Germany's white paper, ‘Focus on India,’ and underscores the growing partnership in business, defense, and energy. As India seeks deeper European integration and a free trade agreement with the EU, Germany views India as a vital partner to diversify its international ties and reduce reliance on China.
High net worth individuals (HNWIs) are increasingly active in the art market, with median spending on art and antiques at $25,555 in early 2024. Notably, HNWIs in mainland China reported the highest median expenditure at $97,000, reflecting a strong post-lockdown recovery. The survey indicates a shift towards purchasing from new galleries and emerging artists, with a growing representation of female artists in collections.
04:33 25.10.2024
US stocks and bonds gained as new home sales exceeded estimates, jobless claims fell, and business activity expanded. Asian markets showed mixed results, with Japanese shares lagging due to a stronger yen, while Australian and South Korean indexes advanced. Treasury yields declined for the second consecutive day, reflecting shifting expectations for Federal Reserve rate cuts amid upcoming economic data and a tight presidential race.
Mainland China has emerged as the top spender in art, with high net worth individuals averaging $97,000 in expenditures, significantly outpacing France ($38,000) and other markets. Looking ahead, 70% of collectors in China plan to purchase more artworks in the next year, leading a global trend where 43% of HNWIs intend to expand their collections.
04:27 25.10.2024
Chinese companies dominate the global wind turbine market, securing 82 percent of orders in the first half of 2024, driven by substantial domestic installations. However, Suzlon Energy from India is emerging as a notable player, enhancing its presence in this competitive industry.
The Biden-Harris administration has announced a $162.4 million loan guarantee to LongPath Technologies for a real-time methane emissions monitoring network, deploying over 1,000 remote monitoring towers across major oil and gas regions. This initiative aims to significantly reduce methane emissions, equivalent to removing 1.3 million gasoline-powered vehicles from the road, while creating hundreds of jobs and strengthening domestic supply chains. The project is part of broader efforts under the U.S. Methane Emissions Reduction Action Plan, which includes over 100 actions taken in 2023 to combat climate change.
UBS has downgraded Larsen & Toubro, while analysts express mixed views on ITC. Nomura maintains a buy rating with a target of ₹555, citing strong cigarette sales but margin pressures. Morgan Stanley also rates ITC overweight at ₹554, highlighting robust hotel performance and agricultural recovery, despite challenges in home consumption and the paper segment.
04:12 25.10.2024
UBS has downgraded Larsen & Toubro, while analysts express mixed views on ITC. Nomura maintains a buy rating with a target of ₹555, citing strong cigarette sales but margin pressures. Morgan Stanley also rates ITC as overweight, targeting ₹554, highlighting robust hotel performance and agricultural recovery, despite challenges in home consumption and the paper segment.
Insolation Energy is in the spotlight following its subsidiary, Insolation Green Energy, securing a Rs 208.31 crore order for the supply of 550 Wp Solar PV Modules for NTPC Khavada in Gujarat, to be executed in FY 2024-25. Additionally, the company’s board approved the issuance of up to 12,23,500 equity shares at Rs 3287 each, aiming for a total consideration of up to Rs 402.16 crore on a preferential basis to non-promoter entities.
Kansai Nerolac is set to attract attention on October 25 following its agreement to sell a land parcel in Lower Parel to Runwal Developers for Rs 726 crore. The company's board has also scheduled a meeting on November 6, 2024, to review its unaudited financial results for the quarter and six months ending September 30, 2024.
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