SpaceX’s blockbuster initial public offering has attracted more than $10 billion in orders from institutional investors, signalling strong demand for what could become the largest IPO in history, according to Bloomberg sources.Banks managing the offering are expected to stop accepting orders from institutional investors after US markets close on Wednesday, giving them time to assess…
India‘s state-owned Steel Authority of India (SAIL) and NMDC Ltd are exploring acquisitions of coking coal assets in Russia as New Delhi seeks to secure supplies of critical raw materials, Indian sources said. SAIL and NMDC explores Russian coking coal for supply security (REUTERS) The world’s biggest producer of crude steel after China, India sent…
In a step towards introducing market-based coal trading, the government on Tuesday notified rules for setting up coal exchanges aimed at improving price discovery, boosting transparency and modernising the country’s coal supply chain.The ministry of coal on Tuesday said the Coal Exchange Rules, 2026 have been published, creating a regulatory framework for establishing and operating…
China’s exports grew at a faster-than-predicted pace in May, supported by strong overseas demand for semiconductors, electric vehicles and other technology-related products, even as geopolitical tensions and elevated energy prices weighed on global trade.Data released by China’s customs agency on Tuesday showed exports rose 19.4 per cent year-on-year in May, up from April’s 14.1 per…
Indian equity benchmarks opened sharply higher on Tuesday, recovering from the steep losses recorded in the previous session as investors returned to risk assets amid improved global sentiment. A security personnel with a sniffer dog keeps vigil as people walk out of the Bombay Stock Exchange building in Mumbai. (PTI) The BSE Sensex surged more…
China’s buying of oil from overseas slumped to the lowest in more than eight years last month, as the Iran war crimped supply and Beijing held off scrambling for replacement barrels. While China has continued adding to its strategic petroleum reserves during the war, processors have increasingly relied on refinery-held inventories rather than fresh imports,…
Funding rounds and IPOs raising 11-figure sums. Blockbuster bond sales spanning three continents. The casual announcement of an $85 billion equity raise. A data center of Alphabet, which turned to bonds last year to fund AI investments. Such is life on Wall Street at the dawn of the artificial-intelligence build-out. Tech companies are hungry for…
The disruption has resulted in a temporary supply bottleneck driven by logistics issues rather than a permanent reduction in oil production. (AI image) Oil prices may average at around $87 per barrel in 2026 as the reopening of Strait of Hormuz in the coming months would ease crude supplies globally, says Fitch Ratings. Global oil…
SpaceX’s $75 billion IPO is fuelling a frenzy among investors in Asia for ETFs and supply chain partners linked to Elon Musk’s rocket company that are likely to benefit from the blockbuster deal. Vehicles drive past a SpaceX Falcon 9 rocket displayed outside a Space Exploration Technologies Corp. facility in Hawthorne, California. (AFP) Shares of…
This financial year, India’s economic numbers might lose some points to the ongoing Middle East chaos. The conflict has dented consumer spending, as households are feeling the pinch of rising costs.Global analytics firm Fitch Ratings on Tuesday cut its FY27 GDP forecast for the country to 6.4% from 6.7% projected earlier. The ratings agency said…
