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LinkedIn, the business-oriented social network under the ownership of Microsoft, announced that it has exceeded 1 billion members on Wednesday. In conjunction with this achievement, the platform is introducing additional artificial intelligence (AI) features designed to enhance the experience of paying subscribers.&nbsp;

By reaching the billion-users mark, LinkedIn joins the elite ranks of social media networks, establishing itself as one of the premier platforms in its category.&nbsp;&nbsp;Around 80 per cent of its recent members have originated from countries outside of the United States, reflecting its global appeal and reach.&nbsp;

LinkedIn offers both free and subscription-based membership tiers. Users subscribed to the premium tier, priced at $39.99 per month, will have access to an array of new AI features that can assist job seekers in making more informed decisions. For instance, the AI system can evaluate a user's profile and provide recommendations on whether they are a strong fit for a particular job, making the job search process more efficient and targeted.&nbsp;

Tomer Cohen, LinkedIn's Chief Product Officer, highlighted that the objective of these AI capabilities is to empower users, enabling them to transition from merely viewing job postings and feeling uncertain to making substantial progress in a single session, ultimately fostering more meaningful interactions.&nbsp;

Furthermore, LinkedIn is introducing a feature that simplifies lengthy posts by summarising them into key bullet points tailored for individual users. These summaries are customised to the user's profile and preferences, ensuring that the key takeaways align with their professional interests and goals. &nbsp;

(With inputs from Reuters)&nbsp;

WATCH WION LIVE HERE

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LinkedIn, the business-oriented social network under the ownership of Microsoft, announced that it has exceeded 1 billion members on Wednesday. In conjunction with this achievement, the platform is introducing additional artificial intelligence (AI) features designed to enhance the experience of paying subscribers.

LinkedIn, the business-oriented social network under the ownership of Microsoft, announced that it has exceeded 1 billion members on Wednesday. In conjunction with this achievement, the platform is introducing additional artificial intelligence (AI) features designed to enhance the experience of paying subscribers. By reaching the billion-users mark, LinkedIn joins the elite ranks of social media networks, establishing itself as one of the premier platforms in its category. Around 80 per cent of its recent members have originated from countries outside of the United States, reflecting its global appeal and reach. LinkedIn offers both free and subscription-based membership tiers. Users subscribed to the premium tier, priced at $39.99 per month, will have access to an array of new AI features that can assist job seekers in making more informed decisions. For instance, the AI system can evaluate a user's profile and provide recommendations on whether they are a strong fit for a particular job, making the job search process more efficient and targeted. Tomer Cohen, LinkedIn's Chief Product Officer, highlighted that the objective of these AI capabilities is to empower users, enabling them to transition from merely viewing job postings and feeling uncertain to making substantial progress in a single session, ultimately fostering more meaningful interactions. Furthermore, LinkedIn is introducing a feature that simplifies lengthy posts by summarising them into key bullet points tailored for individual users. These summaries are customised to the user's profile and preferences, ensuring that the key takeaways align with their professional interests and goals. (With inputs from Reuters) WATCH WION LIVE HERE

LinkedIn surpasses 1 billion members, expands AI capabilities for job seekers

China Evergrande has unveiled a fresh debt restructuring proposal for its offshore bondholders, suggesting a debt-to-equity swap that would grant bondholders an approximate 30 per cent equity stake in each of its two Hong Kong-listed subsidiaries. &nbsp;

This development comes as Evergrande grapples with its debt crisis. Sources familiar with the matter gave Reuters the details of the new plan on the condition of anonymity, noting that the offshore bondholders, who hold approximately $19 billion in debt, are likely to face significant losses if they accept the revised terms.

Evergrande's dollar-denominated bonds have recently been trading at around 2.25 cents on the dollar. The company's restructuring woes were further complicated by its billionaire founder, Hui Ka Yan, coming under investigation for suspected criminal activities in late September. Additionally, Evergrande's ability to issue new dollar bonds, a crucial element of its original restructuring strategy, was hampered when its flagship mainland unit became the subject of regulatory scrutiny.

The initiative to propose this new plan was reportedly led by a work committee operating under the southern Guangdong provincial government, which has been overseeing Evergrande's restructuring since late 2021 when the company defaulted on its debt. This renewed proposal holds considerable significance for Evergrande's future, especially as it faces a looming debt restructuring deadline. A Hong Kong court has ordered Evergrande to formulate a concrete debt restructuring plan by December 4, just ahead of a liquidation hearing that will determine the fate of the company.

Evergrande's original restructuring plan, initially supported by an ad hoc group of bondholders before facing disruptions, provided options such as equity-linked instruments backed by the parent company and the two Hong Kong-listed subsidiaries. &nbsp;

Creditors were given the choice to exchange their holdings for new notes with maturities ranging from 10 to 12 years or convert them into various combinations of new notes with tenors spanning five to nine years and equity-linked instruments, with no direct reduction in value.

However, the main challenge now lies in convincing Evergrande's creditors and shareholders in the two Hong Kong-listed subsidiaries that this revised proposal is a viable solution. This is seen as a critical step in the company's efforts to navigate its complex financial situation. &nbsp;

The earlier plan faced opposition from a significant group of creditors known as Class C, which included private lenders, certain Chinese banks, and pre-IPO investors. This group had voiced concerns and sought better terms before the initial plan unravelled. Meanwhile, the ad hoc group of bondholders has expressed dissatisfaction with the new terms that offer equity stakes in the Hong Kong-listed subsidiaries.

(With inputs from Reuters)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

China Evergrande has unveiled a fresh debt restructuring proposal for its offshore bondholders, suggesting a debt-to-equity swap that would grant bondholders an approximate 30 per cent equity stake in each of its two Hong Kong-listed subsidiaries.

China Evergrande has unveiled a fresh debt restructuring proposal for its offshore bondholders, suggesting a debt-to-equity swap that would grant bondholders an approximate 30 per cent equity stake in each of its two Hong Kong-listed subsidiaries. This development comes as Evergrande grapples with its debt crisis. Sources familiar with the matter gave Reuters the details of the new plan on the condition of anonymity, noting that the offshore bondholders, who hold approximately $19 billion in debt, are likely to face significant losses if they accept the revised terms. Evergrande's dollar-denominated bonds have recently been trading at around 2.25 cents on the dollar. The company's restructuring woes were further complicated by its billionaire founder, Hui Ka Yan, coming under investigation for suspected criminal activities in late September. Additionally, Evergrande's ability to issue new dollar bonds, a crucial element of its original restructuring strategy, was hampered when its flagship mainland unit became the subject of regulatory scrutiny. The initiative to propose this new plan was reportedly led by a work committee operating under the southern Guangdong provincial government, which has been overseeing Evergrande's restructuring since late 2021 when the company defaulted on its debt. This renewed proposal holds considerable significance for Evergrande's future, especially as it faces a looming debt restructuring deadline. A Hong Kong court has ordered Evergrande to formulate a concrete debt restructuring plan by December 4, just ahead of a liquidation hearing that will determine the fate of the company. Evergrande's original restructuring plan, initially supported by an ad hoc group of bondholders before facing disruptions, provided options such as equity-linked instruments backed by the parent company and the two Hong Kong-listed subsidiaries. Creditors were given the choice to exchange their holdings for new notes with maturities ranging from 10 to 12 years or convert them into various combinations of new notes with tenors spanning five to nine years and equity-linked instruments, with no direct reduction in value. However, the main challenge now lies in convincing Evergrande's creditors and shareholders in the two Hong Kong-listed subsidiaries that this revised proposal is a viable solution. This is seen as a critical step in the company's efforts to navigate its complex financial situation. The earlier plan faced opposition from a significant group of creditors known as Class C, which included private lenders, certain Chinese banks, and pre-IPO investors. This group had voiced concerns and sought better terms before the initial plan unravelled. Meanwhile, the ad hoc group of bondholders has expressed dissatisfaction with the new terms that offer equity stakes in the Hong Kong-listed subsidiaries. (With inputs from Reuters) WATCH WION LIVE HERE

China’s Evergrande presents new debt restructuring plan with equity swap for bondholders

Embattled Chinese realty giant Evergrande has proposed a new debt restructuring plan for offshore bondholders. sources say the company offers to turn their debts into about a 30% equity stake in each of the developer's two Hong Kong-listed subsidiaries.

Evergrande proposes new debt restructure for offshore bondholders

A weak Yen has helped Toyota earns huge profits in the July-September quarter this year. A turbocharged Toyota has also raised its outlook for 2023 after its car sales rose across the world. The world's top-selling automaker reported a record operating profit of 9.5 billion dollars in the quarter ending September. That was a 155.6% increase from a year earlier.

Toyota's operating profit at $9.5 bn in July-September quarter | World Business Watch

A report by IMF economists finds that over 70% of Singaporean workers exhibit a robust preference for remote work, outshining their global peers. 73% Singaporean workers are interested in hybrid work, substantially higher than the global average of 63%.

Majority in Singapore favor remote work

There's a new member in the one billion-user club. We are talking about Linkedin, the job-focused social network platform. The Microsoft-owned platform now has over 1 billion members, putting it in the league of Facebook & Instagram.

Linkedin crosses 1 billion users | World Business Watch

The United States Federal Reserve, on Wednesday (Nov 1) voted to keep the interest rate, which currently stands at a 22-year high, unchanged for a second straight meeting. The American central bank also acknowledged the US economy’s surprising strength but has indicated that it may increase borrowing costs in a policy statement.&nbsp;

The Fed’s recent decision would keep its benchmark lending rate between 5.25 per cent and 5.50 per cent where it has been since July. It also gives policymakers time to “assess additional information and its implications for monetary policy,” said the US central bank, in a statement following a two-day meeting.&nbsp;

The central bank has been aggressively raising interest rates since March last year in a bid to control the US’ soaring inflation. However, this was the first time that the officials held rates steady at two consecutive meetings.&nbsp;

<h2>‘Economic activity expanded’</h2>

“Economic activity expanded at a strong pace in the third quarter,” said the US central bank. This comes as recent data showed US gross domestic product (GDP) grew at a 4.9 per cent annual rate in the third quarter, reported Reuters.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/wion-business-wrap-weworks-woes-fall-in-us-consumer-confidence-653848">WION Business Wrap | WeWork's woes, fall in US consumer confidence</a>

Meanwhile, since peaking at more than seven per cent last June, inflation, as measured by the Fed’s yardstick, has slowed by more than half but continued to be stuck firmly above three per cent.

The statement by the US central bank also noted that job gains remained “strong” and inflation still “elevated,” adding that it would consider “the extent of additional policy firming that may be appropriate to return inflation to 2% over time.”

<h2>‘Long way to go’</h2>

The US has a “long way to go” in bringing the inflation down to officials’ two per cent target sustainably, said Federal Reserve Chair Jerome Powell at a press conference after the initial statement.&nbsp;

“A few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal,” said Powell. He also said that they are monitoring a rise in longer-term yields.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/data-lab-women-led-startups-now-forge-18-share-in-indias-booming-startup-ecosystem-653993">Data Lab: Women-led Indian startups surge to 18% in past five years</a>

“We’re attentive to the increase in longer-term yields, which have contributed to a tightening of broader financial conditions since the summer,” said the Fed chair.&nbsp;

Meanwhile, as per Reuters, markets think the Fed may be done with its rate-hiking campaign. “The statement leans to the dovish side,” said Peter Cardillo, chief market economist at Spartan Capital Securities.

“The fact that they left rates unchanged for the second time in a row suggests the Fed might leave rates unchanged in December. And if they do, that means the Fed is done,” he added.&nbsp;

Powell said that the Fed is not discussing interest rate cuts “at all”.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/us-consumer-confidence-hits-a-five-month-low-653811">US consumer confidence hits a five-month low</a>

“The fact is the committee is not thinking about rate cuts, right now at all. We’re not talking about rate cuts,” said the Fed chair.&nbsp;

The earlier statement by the US central bank also said that the Fed is watching the developing impact of its past rate hikes as it is thinking about the next steps, indicating that the full impact of the 5.25 percentage points in rate hikes since March of 2022 has yet to be felt.

(With inputs from agencies) 
&nbsp;

The United States Federal Reserve, on Wednesday (Nov 1) voted to keep the interest rate, which currently stands at a 22-year high, unchanged for a second straight meeting.

The United States Federal Reserve, on Wednesday (Nov 1) voted to keep the interest rate, which currently stands at a 22-year high, unchanged for a second straight meeting. The American central bank also acknowledged the US economy’s surprising strength but has indicated that it may increase borrowing costs in a policy statement. The Fed’s recent decision would keep its benchmark lending rate between 5.25 per cent and 5.50 per cent where it has been since July. It also gives policymakers time to “assess additional information and its implications for monetary policy,” said the US central bank, in a statement following a two-day meeting. The central bank has been aggressively raising interest rates since March last year in a bid to control the US’ soaring inflation. However, this was the first time that the officials held rates steady at two consecutive meetings. ‘Economic activity expanded’ “Economic activity expanded at a strong pace in the third quarter,” said the US central bank. This comes as recent data showed US gross domestic product (GDP) grew at a 4.9 per cent annual rate in the third quarter, reported Reuters. ALSO READ | WION Business Wrap | WeWork's woes, fall in US consumer confidence Meanwhile, since peaking at more than seven per cent last June, inflation, as measured by the Fed’s yardstick, has slowed by more than half but continued to be stuck firmly above three per cent. The statement by the US central bank also noted that job gains remained “strong” and inflation still “elevated,” adding that it would consider “the extent of additional policy firming that may be appropriate to return inflation to 2% over time.” ‘Long way to go’ The US has a “long way to go” in bringing the inflation down to officials’ two per cent target sustainably, said Federal Reserve Chair Jerome Powell at a press conference after the initial statement. “A few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal,” said Powell. He also said that they are monitoring a rise in longer-term yields. ALSO READ | Data Lab: Women-led Indian startups surge to 18% in past five years “We’re attentive to the increase in longer-term yields, which have contributed to a tightening of broader financial conditions since the summer,” said the Fed chair. Meanwhile, as per Reuters, markets think the Fed may be done with its rate-hiking campaign. “The statement leans to the dovish side,” said Peter Cardillo, chief market economist at Spartan Capital Securities. “The fact that they left rates unchanged for the second time in a row suggests the Fed might leave rates unchanged in December. And if they do, that means the Fed is done,” he added. Powell said that the Fed is not discussing interest rate cuts “at all”. ALSO READ | US consumer confidence hits a five-month low “The fact is the committee is not thinking about rate cuts, right now at all. We’re not talking about rate cuts,” said the Fed chair. The earlier statement by the US central bank also said that the Fed is watching the developing impact of its past rate hikes as it is thinking about the next steps, indicating that the full impact of the 5.25 percentage points in rate hikes since March of 2022 has yet to be felt. (With inputs from agencies)

US Federal Reserve keeps interest rates unchanged at 22-year high, says economy is ‘strong’

Walt Disney Company, on Wednesday (Nov 1) has agreed to buy 33 per cent of Comcast’s stake in Hulu which will give Disney full ownership of the streaming service and freedom to incorporate it into Disney+ streaming service.&nbsp;

<h2>What did Disney say about the deal?</h2>

NBCUniversal, which controls the service, had first agreed in 2019 to sell its stake to Disney. “The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” said the company in a short statement.&nbsp;

Disney said it is expected to pay Comcast’s NBCU about $8.61 billion by December 1 as a part of the deal, which represents NBCU’s percentage of the $27.5 billion guaranteed floor value for Hulu set in 2019 minus the anticipated outstanding capital call contributions payable by NBCU to Disney.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/disney-raises-streaming-prices-prioritises-cost-management-to-reassure-investors-624078">Disney+ loses 11.7mn subscribers, streaming fee hike and password crackdown awaits</a>

As a part of the deal struck around four years ago, either NBCU or Disney could initiate the transaction as soon as November 1.&nbsp;

Disney said that Hulu’s equity value will be assessed as of September 30. If the value is determined to be greater than the guaranteed floor value, Disney will pay NBCU the difference.

The entertainment giant also said that while the timing of the appraisal process is uncertain, it believes that it should be completed by next year.&nbsp;

<h2>Disney's plan&nbsp;</h2>

In August, Disney Chief Executive Bob Iger told investors the company was making extensive Hulu content available to bundle subscribers, with the company moving closer to having one app in the United States which would combine Hulu’s general entertainment content with content from Disney’s other brands and franchises.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/entertainment/after-netflixs-success-disney-to-start-cracking-down-on-password-sharing-soon-641954">After Netflix, Disney+ to start cracking down on password sharing soon</a>

In the same month, Disney reported that its streaming platform lost more than 10 million subscribers in the recently ended quarter, mostly in India after the entertainment giant lost rights to stream popular Premier League cricket matches.

Disney had first gained a controlling interest in Hulu as part of its $71 billion acquisition of 21st Century Fox’s film and television assets, which helped the studio gain a competitive leg up in the streaming wars.&nbsp;

Hulu was founded in 2007 as a joint venture between News Corporation and NBC Universal.

(With inputs from agencies)

Walt Disney Company, on Wednesday (Nov 1) has agreed to buy 33 per cent of Comcast’s stake in Hulu which will give Disney full ownership of the streaming service and freedom to incorporate it into Disney+ streaming service.

Walt Disney Company, on Wednesday (Nov 1) has agreed to buy 33 per cent of Comcast’s stake in Hulu which will give Disney full ownership of the streaming service and freedom to incorporate it into Disney+ streaming service. What did Disney say about the deal? NBCUniversal, which controls the service, had first agreed in 2019 to sell its stake to Disney. “The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” said the company in a short statement. Disney said it is expected to pay Comcast’s NBCU about $8.61 billion by December 1 as a part of the deal, which represents NBCU’s percentage of the $27.5 billion guaranteed floor value for Hulu set in 2019 minus the anticipated outstanding capital call contributions payable by NBCU to Disney. ALSO READ | Disney+ loses 11.7mn subscribers, streaming fee hike and password crackdown awaits As a part of the deal struck around four years ago, either NBCU or Disney could initiate the transaction as soon as November 1. Disney said that Hulu’s equity value will be assessed as of September 30. If the value is determined to be greater than the guaranteed floor value, Disney will pay NBCU the difference. The entertainment giant also said that while the timing of the appraisal process is uncertain, it believes that it should be completed by next year. Disney's plan In August, Disney Chief Executive Bob Iger told investors the company was making extensive Hulu content available to bundle subscribers, with the company moving closer to having one app in the United States which would combine Hulu’s general entertainment content with content from Disney’s other brands and franchises. ALSO READ | After Netflix, Disney+ to start cracking down on password sharing soon In the same month, Disney reported that its streaming platform lost more than 10 million subscribers in the recently ended quarter, mostly in India after the entertainment giant lost rights to stream popular Premier League cricket matches. Disney had first gained a controlling interest in Hulu as part of its $71 billion acquisition of 21st Century Fox’s film and television assets, which helped the studio gain a competitive leg up in the streaming wars. Hulu was founded in 2007 as a joint venture between News Corporation and NBC Universal. (With inputs from agencies)

Disney to buy remaining stake and take over Hulu in $8.6 billion deal

Asian stock markets surged following the Federal Reserve's recent decision, mirroring the upward trajectory of U.S. equities and bonds. The Federal Reserve's indication that it might conclude its policy tightening cycle was met with optimism by investors.

Japanese, Hong Kong, and South Korean stocks all opened with gains, while mainland Chinese stocks started the day with a relatively stable performance.

On Wall Street, the S&amp;P 500 witnessed a robust rally, climbing by over 1%, positioning the leading U.S. benchmark for its most impressive weekly performance since March. Notably, the tech-heavy Nasdaq 100 outperformed other U.S. indices.

The decline in Treasury yields had a dampening effect on the U.S. dollar, causing it to weaken against major currencies and providing support for the Japanese yen, which continued to strengthen during early trading, extending its gains from the previous day.

Federal Reserve Chair Jerome Powell, in the central bank's decision, left the possibility of future interest rate hikes open. However, he also highlighted the considerable tightening of financial conditions in recent months, partly due to higher long-term bond yields and other contributing factors.

In the energy market, U.S. crude oil prices surged by over 1% at the market open, partly due to supply concerns arising from the ongoing conflict in Israel and Gaza. The Federal Reserve's decision to maintain its current stance also contributed to the oil price rally since any substantial increase in interest rates could potentially slow down the global economy, affecting oil demand.

The Federal Reserve's unchanged stance had a positive impact on non-yielding assets like gold. This is because higher interest rates would diminish the opportunity cost of holding precious metals.

The cryptocurrency markets also responded positively to the Federal Reserve's decision. Following Jerome Powell's public address, Bitcoin witnessed a notable increase of over 3%. Major alternative cryptocurrencies, including Ethereum and Ripple, followed suit with gains that mirrored Bitcoin's performance.&nbsp;

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Asian stock markets surged following the Federal Reserve's recent decision, mirroring the upward trajectory of U.S. equities and bonds. The Federal Reserve's indication that it might conclude its policy tightening cycle was met with optimism by investors.

Asian stock markets surged following the Federal Reserve's recent decision, mirroring the upward trajectory of U.S. equities and bonds. The Federal Reserve's indication that it might conclude its policy tightening cycle was met with optimism by investors. Japanese, Hong Kong, and South Korean stocks all opened with gains, while mainland Chinese stocks started the day with a relatively stable performance. On Wall Street, the S&P 500 witnessed a robust rally, climbing by over 1%, positioning the leading U.S. benchmark for its most impressive weekly performance since March. Notably, the tech-heavy Nasdaq 100 outperformed other U.S. indices. The decline in Treasury yields had a dampening effect on the U.S. dollar, causing it to weaken against major currencies and providing support for the Japanese yen, which continued to strengthen during early trading, extending its gains from the previous day. Federal Reserve Chair Jerome Powell, in the central bank's decision, left the possibility of future interest rate hikes open. However, he also highlighted the considerable tightening of financial conditions in recent months, partly due to higher long-term bond yields and other contributing factors. In the energy market, U.S. crude oil prices surged by over 1% at the market open, partly due to supply concerns arising from the ongoing conflict in Israel and Gaza. The Federal Reserve's decision to maintain its current stance also contributed to the oil price rally since any substantial increase in interest rates could potentially slow down the global economy, affecting oil demand. The Federal Reserve's unchanged stance had a positive impact on non-yielding assets like gold. This is because higher interest rates would diminish the opportunity cost of holding precious metals. The cryptocurrency markets also responded positively to the Federal Reserve's decision. Following Jerome Powell's public address, Bitcoin witnessed a notable increase of over 3%. Major alternative cryptocurrencies, including Ethereum and Ripple, followed suit with gains that mirrored Bitcoin's performance. WATCH WION LIVE HERE

Global Markets Roundup | Asian markets rally after U.S. Fed's monetary policy decision

Indian Prime Minister Narendra Modi's expansive geopolitical and geo-economic outreach appears to be yielding the benefits for the world's fifth biggest economy. The United Arab Emirates (UAE) is reportedly considering investing as much as $50 billion in India as part of its broader bet on India's rising economic potential.

According to a report in Bloomberg, the UAE could announce these investments into India next year, coinciding with the General Elections in which Prime Minister Narendra Modi is set to seek a third term in office.

Also read |&nbsp;<a href="https://www.wionews.com/trending/uae-emerges-as-social-media-capital-of-world-india-comes-19th-report-590554">UAE emerges as social media capital of world, India comes 19th: Report</a>

The term of India's Lok Sabha, the lower house of Indian parliament directly elected by the people, is set to end in May 2024.&nbsp;

The new set of investments would follow Prime Minister Narendra Modi's meetings with UAE President Sheikh Mohammed bin Zayed.&nbsp;

<h2>India-UAE ties</h2>

New Delhi and Abu Dhabi&nbsp;aim to increase the non-oil bilateral trade to $100 billion. A total of 2.8 million Indian citizens live in the UAE.&nbsp;

Modi's recent visit to Abu Dhabi marked his fifth trip to the West Asian nation since he took over as prime minister in 2014.&nbsp;

The last Indian premier to visit the UAE before him was Indira Gandhi in 1981.

<h2>What the new investment deals will be about</h2>

The Bloomberg report said that the deals being discussed include stakes in key Indian infrastructure projects and state-owned assets.&nbsp;

Some of the investments could involve sovereign wealth funds such as the Abu Dhabi Investment Authority, Mubadala Investment Co. and ADQ, the publication cited its sources as saying.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/exclusive-india-and-uae-have-strong-economic-partnership-says-uae-minister-al-sayegh-643570">Exclusive: India and UAE have strong economic partnership, says UAE Minister Al Sayegh</a>

India since long has been described as a prized economy in the United Arab Emirates due to a rising middle class seeking to diversify away from other investment destinations such as Europe.

The UAE’s plan is a further indicator of the government’s push to position itself as a country that avoids taking sides in a world increasingly split between Washington and Beijing. 
 
(With inputs from agencies)

Indian Prime Minister Narendra Modi's expansive geopolitical and geo-economic outreach appears to be yielding the benefits for the world's fifth biggest economy.

Indian Prime Minister Narendra Modi's expansive geopolitical and geo-economic outreach appears to be yielding the benefits for the world's fifth biggest economy. The United Arab Emirates (UAE) is reportedly considering investing as much as $50 billion in India as part of its broader bet on India's rising economic potential. According to a report in Bloomberg, the UAE could announce these investments into India next year, coinciding with the General Elections in which Prime Minister Narendra Modi is set to seek a third term in office. Also read | UAE emerges as social media capital of world, India comes 19th: Report The term of India's Lok Sabha, the lower house of Indian parliament directly elected by the people, is set to end in May 2024. The new set of investments would follow Prime Minister Narendra Modi's meetings with UAE President Sheikh Mohammed bin Zayed. India-UAE ties New Delhi and Abu Dhabi aim to increase the non-oil bilateral trade to $100 billion. A total of 2.8 million Indian citizens live in the UAE. Modi's recent visit to Abu Dhabi marked his fifth trip to the West Asian nation since he took over as prime minister in 2014. The last Indian premier to visit the UAE before him was Indira Gandhi in 1981. What the new investment deals will be about The Bloomberg report said that the deals being discussed include stakes in key Indian infrastructure projects and state-owned assets. Some of the investments could involve sovereign wealth funds such as the Abu Dhabi Investment Authority, Mubadala Investment Co. and ADQ, the publication cited its sources as saying. Also read | Exclusive: India and UAE have strong economic partnership, says UAE Minister Al Sayegh India since long has been described as a prized economy in the United Arab Emirates due to a rising middle class seeking to diversify away from other investment destinations such as Europe. The UAE’s plan is a further indicator of the government’s push to position itself as a country that avoids taking sides in a world increasingly split between Washington and Beijing. (With inputs from agencies)

UAE to bet on India's prized economy with up to $50bn in investments: Report

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

US Federal Reserve keeps interest rates unchanged at 22-year high, says economy is ‘strong’

The United States Federal Reserve voted to keep the interest rate, which currently stands at a 22-year high, unchanged for a second straight meeting. The American central bank also acknowledged the US economy’s surprising strength but has indicated that it may increase borrowing costs.&nbsp;

<a href="https://www.wionews.com/business-economy/us-fed-keeps-interest-rates-unchanged-at-22-year-high-says-economy-is-strong-654062">Read more here</a>

Japan announces $113-bln package to counter inflation woes&nbsp;

Japanese Prime Minister Fumio Kishida unveiled a comprehensive $113 billion economic package, aimed at controlling the effects of surging inflation. The proposed package encompasses various strategies, including temporary cuts to income and residential taxes, along with subsidies intended to alleviate the burdens of escalating gasoline and utility bills.&nbsp;

<a href="https://www.wionews.com/business-economy/japan-announces-113-bln-package-to-counter-inflation-woes-654131">Read more here</a>

UK removes guarantees on £1 bn Covid loans. Here's why it matters

The United Kingdom has taken a significant step by removing the guarantees on £979 million ($1.2 billion) worth of loans extended to businesses during the Covid-19 pandemic. Though the government's decision only impacts a small percentage of all loans, it could result in losses for lenders in the event that the loans are not repaid.

<a href="https://www.wionews.com/business-economy/uk-removes-guarantees-on-ps1-bn-covid-loans-heres-why-it-matters-654188">Read more here</a>

China’s Evergrande presents new debt restructuring plan with equity swap for bondholders

China Evergrande has unveiled a fresh debt restructuring proposal for its offshore bondholders, suggesting a debt-to-equity swap that would grant bondholders an approximate 30 per cent equity stake in each of its two Hong Kong-listed subsidiaries. &nbsp;

<a href="https://www.wionews.com/business-economy/chinas-evergrande-presents-new-debt-restructuring-plan-with-equity-swap-for-bondholders-654203">Read more here</a>

LinkedIn surpasses 1 billion members, expands AI capabilities for job seekers

LinkedIn, the business-oriented social network under the ownership of Microsoft, announced that it has exceeded 1 billion members on Wednesday. In conjunction with this achievement, the platform is introducing additional artificial intelligence (AI) features designed to enhance the experience of paying subscribers.&nbsp;

<a href="https://www.wionews.com/business-economy/linkedin-surpasses-1-billion-members-expands-ai-capabilities-for-job-seekers-654205">Read more here</a>

Toyota achieves impressive Q2 profit amid weak yen and growing hybrid demand&nbsp;

Toyota Motor has reported a remarkable surge in its second-quarter profit, more than doubling its earnings while significantly revising its full-year outlook. The substantial boost in profits is attributed to a weaker yen currency, which has amplified the impact of robust global sales. &nbsp;

<a href="https://www.wionews.com/business-economy/toyota-achieves-impressive-q2-profit-amid-weak-yen-and-growing-hybrid-demand-654214">Read more here</a>

India aims to digitise 20 per cent of GDP by 2025-26: Rajeev Chandrasekhar&nbsp;

India's Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, has announced the country's ambitious plans for digital transformation. Speaking at the recently-concluded global AI summit in London, Chandrasekhar highlighted India's significant progress in digitising its economy over the past eight years, from 4.5 per cent to about 20 per cent of total GDP by 2025-26.&nbsp;

<a href="https://www.wionews.com/business-economy/india-aims-to-digitise-20-per-cent-of-gdp-by-2025-26-rajeev-chandrasekhar-654261">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. US Federal Reserve keeps interest rates unchanged at 22-year high, says economy is ‘strong’ The United States Federal Reserve voted to keep the interest rate, which currently stands at a 22-year high, unchanged for a second straight meeting.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. US Federal Reserve keeps interest rates unchanged at 22-year high, says economy is ‘strong’ The United States Federal Reserve voted to keep the interest rate, which currently stands at a 22-year high, unchanged for a second straight meeting. The American central bank also acknowledged the US economy’s surprising strength but has indicated that it may increase borrowing costs. Read more here Japan announces $113-bln package to counter inflation woes Japanese Prime Minister Fumio Kishida unveiled a comprehensive $113 billion economic package, aimed at controlling the effects of surging inflation. The proposed package encompasses various strategies, including temporary cuts to income and residential taxes, along with subsidies intended to alleviate the burdens of escalating gasoline and utility bills. Read more here UK removes guarantees on £1 bn Covid loans. Here's why it matters The United Kingdom has taken a significant step by removing the guarantees on £979 million ($1.2 billion) worth of loans extended to businesses during the Covid-19 pandemic. Though the government's decision only impacts a small percentage of all loans, it could result in losses for lenders in the event that the loans are not repaid. Read more here China’s Evergrande presents new debt restructuring plan with equity swap for bondholders China Evergrande has unveiled a fresh debt restructuring proposal for its offshore bondholders, suggesting a debt-to-equity swap that would grant bondholders an approximate 30 per cent equity stake in each of its two Hong Kong-listed subsidiaries. Read more here LinkedIn surpasses 1 billion members, expands AI capabilities for job seekers LinkedIn, the business-oriented social network under the ownership of Microsoft, announced that it has exceeded 1 billion members on Wednesday. In conjunction with this achievement, the platform is introducing additional artificial intelligence (AI) features designed to enhance the experience of paying subscribers. Read more here Toyota achieves impressive Q2 profit amid weak yen and growing hybrid demand Toyota Motor has reported a remarkable surge in its second-quarter profit, more than doubling its earnings while significantly revising its full-year outlook. The substantial boost in profits is attributed to a weaker yen currency, which has amplified the impact of robust global sales. Read more here India aims to digitise 20 per cent of GDP by 2025-26: Rajeev Chandrasekhar India's Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, has announced the country's ambitious plans for digital transformation. Speaking at the recently-concluded global AI summit in London, Chandrasekhar highlighted India's significant progress in digitising its economy over the past eight years, from 4.5 per cent to about 20 per cent of total GDP by 2025-26. Read more here

WION Business Wrap | Japan's package, India's digitisation ambitions & much more

Toyota Motor has reported a remarkable surge in its second-quarter profit, more than doubling its earnings while significantly revising its full-year outlook. The substantial boost in profits is attributed to a weaker yen currency, which has amplified the impact of robust global sales. &nbsp;

The world's top-selling automaker, unveiled a record operating profit of 1.44 trillion yen ($9.5 billion) in the quarter ending September, marking a 155.6 per cent increase from the previous year.&nbsp;

This surge in earnings is driven by increased sales across all global regions, encompassing the United States, Asia, and Toyota's home market. Over the first six months of this fiscal year, Toyota witnessed a surge in car sales when compared to the same period a year earlier, reaffirming its strong position in the global automotive market.&nbsp;

While Toyota has faced criticism for its perceived hesitance in embracing battery electric vehicles (EVs), the company embarked on a significant overhaul of its EV strategy in June. Toyota made a substantial commitment to enhance the driving range and reduce the costs of electric vehicles. &nbsp;

Market sentiment appears to be rallying around this new strategy, and Toyota is experiencing renewed interest in its line-up of gasoline-electric hybrids. This resurgence in hybrid interest coincides with a recent decline in enthusiasm for pure EVs, particularly in the United States, where consumers grapple with higher financing costs.&nbsp;

Hybrids continue to make up over 90 per cent of Toyota's electrified car sales. In the quarter ending September, hybrid sales experienced a substantial 41 per cent increase, totalling 888,000 vehicles. This surge in hybrid sales indicates the continued demand for these vehicles, which tend to be more cost-effective than some battery-powered EVs.&nbsp;

Despite Toyota's performance, analysts have highlighted a set of challenges that lie ahead, particularly in the Chinese market. In China, the rapid ascent of domestic EV manufacturers and the swift transition to battery-powered vehicles have posed difficulties for companies like Nissan Motor and Honda Motor. &nbsp;

According to Reuters, Chief Financial Officer Yoichi Miyazaki acknowledged that China is currently experiencing a "very severe price competition," particularly concerning battery EVs.&nbsp;

Additionally, Toyota faces competitive challenges in Southeast Asian markets such as Thailand, where a surge in Chinese investments, driven by the increasing demand for EVs, has led to intense competition. &nbsp;

Despite this, Toyota is determined to navigate these competitive landscapes as it aims to further its growth plans. The company recently announced an $8 billion boost in investment in a North Carolina plant focused on manufacturing batteries for hybrids, plug-in hybrids, and full-battery vehicles.&nbsp;

Toyota's second-quarter results have led to an upward revision of its full-year profit forecast. The company now expects a full-year profit of 4.5 trillion yen, up from the previous projection of 3 trillion yen. The favourable impact of foreign exchange rates, attributed to a weaker yen, plays a significant role in this revised profit outlook. &nbsp;

The company assumed an average rate of 141 yen per dollar for its calculations for the 2023-24 financial year, compared to the previous rate of 125 yen per dollar.&nbsp;

Additionally, Toyota has announced a 100 billion yen share buyback program, and its shares gained 4.7 per cent following the release of these results, contributing to a 2.4 per cent increase in Japan's benchmark Nikkei index.&nbsp;

(With inputs from Reuters)&nbsp;

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Toyota Motor has reported a remarkable surge in its second-quarter profit, more than doubling its earnings while significantly revising its full-year outlook. The substantial boost in profits is attributed to a weaker yen currency, which has amplified the impact of robust global sales.

Toyota Motor has reported a remarkable surge in its second-quarter profit, more than doubling its earnings while significantly revising its full-year outlook. The substantial boost in profits is attributed to a weaker yen currency, which has amplified the impact of robust global sales. The world's top-selling automaker, unveiled a record operating profit of 1.44 trillion yen ($9.5 billion) in the quarter ending September, marking a 155.6 per cent increase from the previous year. This surge in earnings is driven by increased sales across all global regions, encompassing the United States, Asia, and Toyota's home market. Over the first six months of this fiscal year, Toyota witnessed a surge in car sales when compared to the same period a year earlier, reaffirming its strong position in the global automotive market. While Toyota has faced criticism for its perceived hesitance in embracing battery electric vehicles (EVs), the company embarked on a significant overhaul of its EV strategy in June. Toyota made a substantial commitment to enhance the driving range and reduce the costs of electric vehicles. Market sentiment appears to be rallying around this new strategy, and Toyota is experiencing renewed interest in its line-up of gasoline-electric hybrids. This resurgence in hybrid interest coincides with a recent decline in enthusiasm for pure EVs, particularly in the United States, where consumers grapple with higher financing costs. Hybrids continue to make up over 90 per cent of Toyota's electrified car sales. In the quarter ending September, hybrid sales experienced a substantial 41 per cent increase, totalling 888,000 vehicles. This surge in hybrid sales indicates the continued demand for these vehicles, which tend to be more cost-effective than some battery-powered EVs. Despite Toyota's performance, analysts have highlighted a set of challenges that lie ahead, particularly in the Chinese market. In China, the rapid ascent of domestic EV manufacturers and the swift transition to battery-powered vehicles have posed difficulties for companies like Nissan Motor and Honda Motor. According to Reuters, Chief Financial Officer Yoichi Miyazaki acknowledged that China is currently experiencing a "very severe price competition," particularly concerning battery EVs. Additionally, Toyota faces competitive challenges in Southeast Asian markets such as Thailand, where a surge in Chinese investments, driven by the increasing demand for EVs, has led to intense competition. Despite this, Toyota is determined to navigate these competitive landscapes as it aims to further its growth plans. The company recently announced an $8 billion boost in investment in a North Carolina plant focused on manufacturing batteries for hybrids, plug-in hybrids, and full-battery vehicles. Toyota's second-quarter results have led to an upward revision of its full-year profit forecast. The company now expects a full-year profit of 4.5 trillion yen, up from the previous projection of 3 trillion yen. The favourable impact of foreign exchange rates, attributed to a weaker yen, plays a significant role in this revised profit outlook. The company assumed an average rate of 141 yen per dollar for its calculations for the 2023-24 financial year, compared to the previous rate of 125 yen per dollar. Additionally, Toyota has announced a 100 billion yen share buyback program, and its shares gained 4.7 per cent following the release of these results, contributing to a 2.4 per cent increase in Japan's benchmark Nikkei index. (With inputs from Reuters) WATCH WION LIVE HERE

Toyota achieves impressive Q2 profit amid weak yen and growing hybrid demand 

The United Kingdom has taken a significant step by removing the guarantees on £979 million ($1.2 billion) worth of loans extended to businesses during the Covid-19 pandemic, Reuters reported on Wednesday.

Though the government's decision only impacts a small percentage of all loans, it could result in losses for lenders in the event that the loans are not repaid. Meanwhile, there is pressure on the Conservative administration to lower the losses from its Covid loans because of complaints that the borrower checks were insufficient and the anti-fraud procedures were put in place too late.

As per the Reuters report, British Business Bank has already removed state guarantees from 10,786 loans as of October 11, according to figures obtained through a Freedom of Information request. &nbsp;

A spokesperson for the UK's business department said that lenders have been engaging with British Business Bank over the loan schemes. These discussions revolve around the question whether it would be suitable to eliminate any loans from the guarantee.

The UK Finance, a lobbying group representing the industry, pointed out that in some cases, lenders have voluntarily removed loans from the guarantee, even when the guarantee might be valid. &nbsp;

This action places the full burden of potential losses on the lenders, ensuring that taxpayers are not exposed to any further financial risks. A breakdown of the removal of state guarantee loans by lender, however, was not disclosed, according to Reuters' report. &nbsp;

In response to the economic challenges brought about by the pandemic, the UK government established three government-guaranteed loan programs in the first half of 2020, with an aim to support businesses impacted by the Covid-19 crisis. &nbsp;

WATCH WION LIVE HERE

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These programs included the Bounce Back Loan Scheme, which provided 100 per cent guarantees on loans to smaller businesses for rapid access to financing. While these loans were intended to support businesses swiftly, they have faced criticism for the high levels of fraudulent activity. &nbsp;

In contrast, the Coronavirus Business Interruption Loan Scheme and the Coronavirus Large Business Interruption Loan Scheme, targeting larger companies, received 80 per cent guarantees from the UK government and have experienced considerably lower levels of fraud. &nbsp;

(With inputs from Reuters and Bloomberg) &nbsp;

The United Kingdom has taken a significant step by removing the guarantees on £979 million ($1.2 billion) worth of loans extended to businesses during the Covid-19 pandemic, Reuters reported on Wednesday.

The United Kingdom has taken a significant step by removing the guarantees on £979 million ($1.2 billion) worth of loans extended to businesses during the Covid-19 pandemic, Reuters reported on Wednesday. Though the government's decision only impacts a small percentage of all loans, it could result in losses for lenders in the event that the loans are not repaid. Meanwhile, there is pressure on the Conservative administration to lower the losses from its Covid loans because of complaints that the borrower checks were insufficient and the anti-fraud procedures were put in place too late. As per the Reuters report, British Business Bank has already removed state guarantees from 10,786 loans as of October 11, according to figures obtained through a Freedom of Information request. A spokesperson for the UK's business department said that lenders have been engaging with British Business Bank over the loan schemes. These discussions revolve around the question whether it would be suitable to eliminate any loans from the guarantee. The UK Finance, a lobbying group representing the industry, pointed out that in some cases, lenders have voluntarily removed loans from the guarantee, even when the guarantee might be valid. This action places the full burden of potential losses on the lenders, ensuring that taxpayers are not exposed to any further financial risks. A breakdown of the removal of state guarantee loans by lender, however, was not disclosed, according to Reuters' report. In response to the economic challenges brought about by the pandemic, the UK government established three government-guaranteed loan programs in the first half of 2020, with an aim to support businesses impacted by the Covid-19 crisis. WATCH WION LIVE HERE These programs included the Bounce Back Loan Scheme, which provided 100 per cent guarantees on loans to smaller businesses for rapid access to financing. While these loans were intended to support businesses swiftly, they have faced criticism for the high levels of fraudulent activity. In contrast, the Coronavirus Business Interruption Loan Scheme and the Coronavirus Large Business Interruption Loan Scheme, targeting larger companies, received 80 per cent guarantees from the UK government and have experienced considerably lower levels of fraud. (With inputs from Reuters and Bloomberg)

UK removes guarantees on £1 bn Covid loans. Here's why it matters

Japanese Prime Minister Fumio Kishida unveiled a comprehensive&nbsp;$113 billion&nbsp;economic package, aimed at controlling the effects of surging inflation.

The proposed package encompasses various strategies, including temporary cuts to income and residential taxes, along with subsidies intended to alleviate the burdens of escalating gasoline and utility bills.&nbsp;

According to Reuters, the government plans to compile a supplementary budget of 13.1 trillion yen for the ongoing fiscal year in order to&nbsp;finance a significant portion of the expenditure.&nbsp;

The prolonged period during which inflation has consistently exceeded the central bank's two per cent target has been taking a toll on consumer spending and casting a shadow on Japan's economic recovery.&nbsp;

The ever-increasing cost of living has played a pivotal role in driving down Kishida's approval ratings, putting immense pressure on him to alleviate the hardships faced by households. &nbsp;

While the prime minister acknowledges that economic growth remains strong, wage increases have been insufficient to counterbalance the surge in prices. As a solution, he envisions returning a portion of the expected increase in tax revenues generated by the robust economy back to households, effectively cushioning the impact of inflation.&nbsp;

The latest move comes close on heels of the Bank of Japan allowing 10-year government bond yields to rise above 1 per cent, in response to the yen's weakening over the previous 18 months.&nbsp;

(With inputs from Reuters)&nbsp;

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Japanese Prime Minister Fumio Kishida unveiled a comprehensive $113 billion economic package, aimed at controlling the effects of surging inflation. The proposed package encompasses various strategies, including temporary cuts to income and residential taxes, along with subsidies intended to alleviate the burdens of escalating gasoline and utility bills.

Japanese Prime Minister Fumio Kishida unveiled a comprehensive $113 billion economic package, aimed at controlling the effects of surging inflation. The proposed package encompasses various strategies, including temporary cuts to income and residential taxes, along with subsidies intended to alleviate the burdens of escalating gasoline and utility bills. According to Reuters, the government plans to compile a supplementary budget of 13.1 trillion yen for the ongoing fiscal year in order to finance a significant portion of the expenditure. The prolonged period during which inflation has consistently exceeded the central bank's two per cent target has been taking a toll on consumer spending and casting a shadow on Japan's economic recovery. The ever-increasing cost of living has played a pivotal role in driving down Kishida's approval ratings, putting immense pressure on him to alleviate the hardships faced by households. While the prime minister acknowledges that economic growth remains strong, wage increases have been insufficient to counterbalance the surge in prices. As a solution, he envisions returning a portion of the expected increase in tax revenues generated by the robust economy back to households, effectively cushioning the impact of inflation. The latest move comes close on heels of the Bank of Japan allowing 10-year government bond yields to rise above 1 per cent, in response to the yen's weakening over the previous 18 months. (With inputs from Reuters) WATCH WION LIVE HERE

Japan announces $113 bn package to counter inflation woes 

The stage is set, and the curtains are drawn as Airbnb, known for its unique and welcoming accommodations, takes the spotlight. In a world where travel has become a cherished experience of the 21st century, it appears that travelers are now navigating uncharted waters.

With travelers feeling the pinch due to a surge in living costs, the return to office routines, and fierce competition in the hotel industry, Airbnb finds itself in a transformative phase. The outlook for the fourth quarter anticipates revenue in the range of $2.13 billion to $2.17 billion, a slight dip from analysts' average estimate of $2.18 billion. This subtle shift indicates that travelers are recalibrating their expectations and preferences.

The exhilarating summer, often labeled as the era of "revenge travel," has begun to wane as travelers set boundaries. During this period, travelers displayed a willingness to pay a premium for flights and accommodations, unlocking their pent-up wanderlust post-Covid restrictions. But the tide is changing.

As we sail into the unknown, Airbnb's third-quarter results offer a ray of hope. With revenue exceeding expectations, recording an 18% increase from the previous year, amounting to $3.4 billion, and an impressive 113.2 million nights and experiences booked, an increase of 14 per cent, travelers continue to explore the world, undeterred by the challenges they face.

A significant shift is witnessed as travelers return to urban landscapes, relinquishing the comforts of rural domestic stays embraced during the pandemic. In the third quarter, high-density urban nights booked increased by 15 per cent&nbsp;compared to the previous year. International travel is also regaining momentum, with cross-border nights booked growing by 17 per cent. The Asia Pacific region has emerged as a resilient beacon, fully recovering to pre-pandemic levels, offering a glimpse of the global tourism revival.

While the cost of accommodations remains pivotal to Airbnb's success and its competitive edge against hotels, the platform introduces tools to help hosts set competitive pricing. In September, the average nightly price for a one-bedroom listing on Airbnb was $120, marking a slight 1 per cent&nbsp;increment from the previous year. In contrast, hotel prices surged by 10 per cent, averaging $153. These statistics reflect the delicate balance travelers strike between affordability and comfort.

Nevertheless, Airbnb faces the shadows of regulatory challenges, especially in destinations like New York City and Canada. These hurdles are poised to influence supply and room-night growth in the near term. New York City's recent regulatory framework, demanding hosts to meet specific criteria and adhere to stringent building standards, has significantly impacted Airbnb's operations. This change is perceived as a "de facto ban" and has led to the removal of thousands of listings. Before the shift in regulations, New York contributed about 1% to Airbnb's global revenue. Meanwhile, Canada contemplates measures to curb the use of short-term rental platforms in response to soaring rental costs.

In summary, although "increased regulatory restrictions" may pose short-term challenges, Airbnb's active listings exhibited a 19 per cent&nbsp;growth in the third quarter, compared to the previous year. Over the current year, Airbnb has added nearly 1 million active listings, reflecting its adaptability in the face of evolving challenges.

In this ever-evolving narrative, Airbnb's earnings report deciphers the state of the tourism industry. It serves as a compass for travelers, businesses, and policymakers to navigate through the shifting dynamics of the travel landscape. The journey is marked by surprises, lessons, and, most importantly, the unrelenting spirit of exploration and discovery.

The stage is set, and the curtains are drawn as Airbnb, known for its unique and welcoming accommodations, takes the spotlight. In a world where travel has become a cherished experience of the 21st century, it appears that travelers are now navigating uncharted waters.

The stage is set, and the curtains are drawn as Airbnb, known for its unique and welcoming accommodations, takes the spotlight. In a world where travel has become a cherished experience of the 21st century, it appears that travelers are now navigating uncharted waters. With travelers feeling the pinch due to a surge in living costs, the return to office routines, and fierce competition in the hotel industry, Airbnb finds itself in a transformative phase. The outlook for the fourth quarter anticipates revenue in the range of $2.13 billion to $2.17 billion, a slight dip from analysts' average estimate of $2.18 billion. This subtle shift indicates that travelers are recalibrating their expectations and preferences. The exhilarating summer, often labeled as the era of "revenge travel," has begun to wane as travelers set boundaries. During this period, travelers displayed a willingness to pay a premium for flights and accommodations, unlocking their pent-up wanderlust post-Covid restrictions. But the tide is changing. As we sail into the unknown, Airbnb's third-quarter results offer a ray of hope. With revenue exceeding expectations, recording an 18% increase from the previous year, amounting to $3.4 billion, and an impressive 113.2 million nights and experiences booked, an increase of 14 per cent, travelers continue to explore the world, undeterred by the challenges they face. A significant shift is witnessed as travelers return to urban landscapes, relinquishing the comforts of rural domestic stays embraced during the pandemic. In the third quarter, high-density urban nights booked increased by 15 per cent compared to the previous year. International travel is also regaining momentum, with cross-border nights booked growing by 17 per cent. The Asia Pacific region has emerged as a resilient beacon, fully recovering to pre-pandemic levels, offering a glimpse of the global tourism revival. While the cost of accommodations remains pivotal to Airbnb's success and its competitive edge against hotels, the platform introduces tools to help hosts set competitive pricing. In September, the average nightly price for a one-bedroom listing on Airbnb was $120, marking a slight 1 per cent increment from the previous year. In contrast, hotel prices surged by 10 per cent, averaging $153. These statistics reflect the delicate balance travelers strike between affordability and comfort. Nevertheless, Airbnb faces the shadows of regulatory challenges, especially in destinations like New York City and Canada. These hurdles are poised to influence supply and room-night growth in the near term. New York City's recent regulatory framework, demanding hosts to meet specific criteria and adhere to stringent building standards, has significantly impacted Airbnb's operations. This change is perceived as a "de facto ban" and has led to the removal of thousands of listings. Before the shift in regulations, New York contributed about 1% to Airbnb's global revenue. Meanwhile, Canada contemplates measures to curb the use of short-term rental platforms in response to soaring rental costs. In summary, although "increased regulatory restrictions" may pose short-term challenges, Airbnb's active listings exhibited a 19 per cent growth in the third quarter, compared to the previous year. Over the current year, Airbnb has added nearly 1 million active listings, reflecting its adaptability in the face of evolving challenges. In this ever-evolving narrative, Airbnb's earnings report deciphers the state of the tourism industry. It serves as a compass for travelers, businesses, and policymakers to navigate through the shifting dynamics of the travel landscape. The journey is marked by surprises, lessons, and, most importantly, the unrelenting spirit of exploration and discovery.

Decoding tourism trends through Airbnb's financial results

India's Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, has announced the country's ambitious plans for digital transformation.&nbsp;

Speaking at the recently-concluded global AI summit in London, Chandrasekhar highlighted India's significant progress in digitising its economy over the past eight years, from 4.5 per cent to about 20 per cent of total GDP by 2025-26.&nbsp;

As of now, 11 per cent of India's GDP is digitised. "The digital economy and the innovation economy are growing 2.5 or three times faster than the non-digital part of the GDP," ANI quoted Chandrasekhar as saying.&nbsp;

International digital ministers, technology leaders, esteemed academics, and representatives from civil society gathered for the two-day summit. They discussed the shared risks arising from emergent AI technology and potential mitigation strategies.&nbsp;

Chandrasekhar emphasised the importance of international collaboration and dialogues between countries, asserting their crucial role in shaping the future of technology.&nbsp;

"The future of tech, whether it be innovation, partnerships, or institutional framework for regulating technology, should be driven by a coalition of nations rather than just one or two countries," media reports quoted him as saying. &nbsp;

Chandrasekhar also stressed the significance of digital advancements as real objectives and described artificial intelligence as a catalyst that can accelerate growth, governance, and the digital economy.

(With inputs from agencies)

India's Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, has announced the country's ambitious plans for digital transformation.

India's Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, has announced the country's ambitious plans for digital transformation. Speaking at the recently-concluded global AI summit in London, Chandrasekhar highlighted India's significant progress in digitising its economy over the past eight years, from 4.5 per cent to about 20 per cent of total GDP by 2025-26. As of now, 11 per cent of India's GDP is digitised. "The digital economy and the innovation economy are growing 2.5 or three times faster than the non-digital part of the GDP," ANI quoted Chandrasekhar as saying. International digital ministers, technology leaders, esteemed academics, and representatives from civil society gathered for the two-day summit. They discussed the shared risks arising from emergent AI technology and potential mitigation strategies. Chandrasekhar emphasised the importance of international collaboration and dialogues between countries, asserting their crucial role in shaping the future of technology. "The future of tech, whether it be innovation, partnerships, or institutional framework for regulating technology, should be driven by a coalition of nations rather than just one or two countries," media reports quoted him as saying. Chandrasekhar also stressed the significance of digital advancements as real objectives and described artificial intelligence as a catalyst that can accelerate growth, governance, and the digital economy. (With inputs from agencies)

India aims to digitise 20 per cent of GDP by 2025-26: Rajeev Chandrasekhar 

In a rapidly changing world where the boundaries between work and personal life continue to blur, the debate over a 70-hour workweek has taken center stage. NR Narayana Murthy's impassioned call for India's youth to work longer hours has ignited discussions on productivity, practicality, and the very essence of what it means to thrive in a technology-driven era.

To shed light on this multifaceted debate, we turn to Neeti Sharma, the Co-Founder and President of TeamLease EdTech, who brings her experience and insights to the forefront. With her finger on the pulse of the modern workforce, Sharma offers a unique perspective on the evolving landscape of productivity, the practicality of extended work hours, and the dynamic forces reshaping our work culture.

The productivity paradigm shift

At the heart of this debate is the notion of productivity. Traditionally, productivity was often measured by the number of hours worked. However, as Neeti Sharma, Co-Founder and President of TeamLease EdTech, points out, the definition of productivity has evolved. In today's world, where remote work and technology have changed the way we operate, it's no longer about the hours on the clock but about the outcomes.

Sharma highlights that people often end up working longer hours without realising it, especially with the rise of remote work. The blurred boundaries between professional and personal life have led to a reevaluation of how we define productivity.

The practicality predicament

While proponents argue that a 70-hour workweek could lead to increased dedication and efficiency, critics raise valid concerns. They question whether such a rigid schedule is practical in a world where flexibility and work-life balance are increasingly valued.

Gig working, a growing trend, is also brought into the equation. This type of work blurs the lines further, with individuals often working more than a standard workweek without adhering to a fixed schedule. It's a dynamic shift in how we perceive work.

The multi-faceted nature of productivity

In this evolving landscape, productivity is revealed to be multi-faceted. It encompasses factors beyond just the number of hours worked. Attention span, focus, adaptability, and smart work play significant roles in determining true productivity.

Efficiency, as it turns out, can be achieved without confining oneself to a stringent work schedule. Discipline may be a part of the equation, but it doesn't always equate to productivity. The contemporary world requires an approach that adapts to the individual, recognising that peak productivity can differ from person to person.

A broader discourse

The debate over a 70-hour workweek serves as a microcosm of a broader conversation about the future of work. It challenges us to question our preconceived notions about productivity, practicality, and the balance between professional and personal life.

As we navigate this complex, fast-paced world, the 70-hour workweek debate compels us to consider the very essence of what it means to be productive. It urges us to break free from the constraints of rigid schedules and embrace a more dynamic, individualised approach to work.

In the end, productivity isn't about the hours we put in; it's about the value we create, the innovation we bring, and the balance we maintain in our lives. The 70-hour workweek debate is merely a reflection of a world in transition, challenging us to adapt, evolve, and ultimately redefine our understanding of success in the modern era.

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In a rapidly changing world where the boundaries between work and personal life continue to blur, the debate over a 70-hour workweek has taken center stage. NR Narayana Murthy's impassioned call for India's youth to work longer hours has ignited discussions on productivity, practicality, and the very essence of what it means to thrive in a technology-driven era.

In a rapidly changing world where the boundaries between work and personal life continue to blur, the debate over a 70-hour workweek has taken center stage. NR Narayana Murthy's impassioned call for India's youth to work longer hours has ignited discussions on productivity, practicality, and the very essence of what it means to thrive in a technology-driven era. To shed light on this multifaceted debate, we turn to Neeti Sharma, the Co-Founder and President of TeamLease EdTech, who brings her experience and insights to the forefront. With her finger on the pulse of the modern workforce, Sharma offers a unique perspective on the evolving landscape of productivity, the practicality of extended work hours, and the dynamic forces reshaping our work culture. The productivity paradigm shift At the heart of this debate is the notion of productivity. Traditionally, productivity was often measured by the number of hours worked. However, as Neeti Sharma, Co-Founder and President of TeamLease EdTech, points out, the definition of productivity has evolved. In today's world, where remote work and technology have changed the way we operate, it's no longer about the hours on the clock but about the outcomes. Sharma highlights that people often end up working longer hours without realising it, especially with the rise of remote work. The blurred boundaries between professional and personal life have led to a reevaluation of how we define productivity. The practicality predicament While proponents argue that a 70-hour workweek could lead to increased dedication and efficiency, critics raise valid concerns. They question whether such a rigid schedule is practical in a world where flexibility and work-life balance are increasingly valued. Gig working, a growing trend, is also brought into the equation. This type of work blurs the lines further, with individuals often working more than a standard workweek without adhering to a fixed schedule. It's a dynamic shift in how we perceive work. The multi-faceted nature of productivity In this evolving landscape, productivity is revealed to be multi-faceted. It encompasses factors beyond just the number of hours worked. Attention span, focus, adaptability, and smart work play significant roles in determining true productivity. Efficiency, as it turns out, can be achieved without confining oneself to a stringent work schedule. Discipline may be a part of the equation, but it doesn't always equate to productivity. The contemporary world requires an approach that adapts to the individual, recognising that peak productivity can differ from person to person. A broader discourse The debate over a 70-hour workweek serves as a microcosm of a broader conversation about the future of work. It challenges us to question our preconceived notions about productivity, practicality, and the balance between professional and personal life. As we navigate this complex, fast-paced world, the 70-hour workweek debate compels us to consider the very essence of what it means to be productive. It urges us to break free from the constraints of rigid schedules and embrace a more dynamic, individualised approach to work. In the end, productivity isn't about the hours we put in; it's about the value we create, the innovation we bring, and the balance we maintain in our lives. The 70-hour workweek debate is merely a reflection of a world in transition, challenging us to adapt, evolve, and ultimately redefine our understanding of success in the modern era. WATCH WION LIVE HERE

Redefining Productivity: How a 70-hour workweek debate challenges conventional wisdom

In a bipartisan call to action, leaders of a US congressional committee are pressing treasury secretary Janet Yellen, to swiftly implement outbound investment restrictions on China.

US-China investment rules under scrutiny | World Business Watch

Consumer confidence in the US hit a five-month low in October as gloomier economic forecasts & rising prices dampened optimism. Data released on Tuesday showed that the conference board's index dropped to 102.6 last month from 104.3 in September.

US consumer confidence drops to a five-month low

India's import of Russian oil eased in October after an increase in prices. However, oil supply from Saudi Arabia rose. Indian refiners have slowed Russian oil imports in recent months from the nearly 2 million barrels per peak seen earlier this year as discounts have narrowed.

India's Russian oil imports fall in October as prices rise

The World Gold Council (WGC) on Tuesday expressed concerns that gold prices reaching near record highs may diminish the demand for gold in India during the country's peak festival season.&nbsp;

India, the world's second-largest gold consumer, is now witnessing a potential drop in gold purchases, which could lead to the lowest buying volumes in three years, stated the WGC.&nbsp;

The surge in gold prices in India, particularly in the December quarter, which traditionally sees the highest sales of the year, is expected to limit purchases during the festive season. &nbsp;

Reuters cited Somasundaram PR, the regional chief executive officer of WGC's Indian operations, as saying that local gold prices have surged this week, nearing the all-time high set earlier this year. Last year, gold prices during the December quarter were nearly 20 per cent lower compared to this year.&nbsp;

Typically, gold demand in India strengthens towards the end of the year, coinciding with the traditional wedding season and major festivals such as Diwali and Dusherra, where purchasing gold is considered auspicious. However, the soaring prices could potentially reduce the demand. &nbsp;

While gold consumption in India during the July-September quarter increased by 10 per cent due to a correction in local prices, overall demand for the year is expected to decline by around 3.3 per cent, according to Somasundaram. This could result in 2023 seeing the lowest demand for gold in three years.&nbsp;

Higher gold prices have also led some individuals to sell their old jewellery and coins, resulting in a 37 per cent surge in scrap supplies in the first nine months of the year, as reported by WGC data. The trend is likely to continue into the December quarter if gold prices remain at their current levels.&nbsp;

(With inputs from Reuters)&nbsp;

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The World Gold Council (WGC) on Tuesday expressed concerns that gold prices reaching near record highs may diminish the demand for gold in India during the country's peak festival season.

The World Gold Council (WGC) on Tuesday expressed concerns that gold prices reaching near record highs may diminish the demand for gold in India during the country's peak festival season. India, the world's second-largest gold consumer, is now witnessing a potential drop in gold purchases, which could lead to the lowest buying volumes in three years, stated the WGC. The surge in gold prices in India, particularly in the December quarter, which traditionally sees the highest sales of the year, is expected to limit purchases during the festive season. Reuters cited Somasundaram PR, the regional chief executive officer of WGC's Indian operations, as saying that local gold prices have surged this week, nearing the all-time high set earlier this year. Last year, gold prices during the December quarter were nearly 20 per cent lower compared to this year. Typically, gold demand in India strengthens towards the end of the year, coinciding with the traditional wedding season and major festivals such as Diwali and Dusherra, where purchasing gold is considered auspicious. However, the soaring prices could potentially reduce the demand. While gold consumption in India during the July-September quarter increased by 10 per cent due to a correction in local prices, overall demand for the year is expected to decline by around 3.3 per cent, according to Somasundaram. This could result in 2023 seeing the lowest demand for gold in three years. Higher gold prices have also led some individuals to sell their old jewellery and coins, resulting in a 37 per cent surge in scrap supplies in the first nine months of the year, as reported by WGC data. The trend is likely to continue into the December quarter if gold prices remain at their current levels. (With inputs from Reuters) WATCH WION LIVE HERE

Gold demand in India dims amid soaring prices: Report 

Shares of Nvidia Corp, a prominent player in the artificial intelligence (AI) industry, tumbled by nearly 5 per cent, reaching a five-month low in the wake of a report that the company may be compelled to cancel advanced chip orders valued at up to $5 billion destined for China.&nbsp;

According to Reuters, the reason behind this potential cancellation is the necessity to comply with new U.S. government restrictions.&nbsp;

Nvidia's stock price plunged to as low as $392.30, representing a 4.7 per cent decline. This marks the lowest level the company's stock has reached since mid-June. The stock, which played a significant role in driving the Nasdaq's gains, has now fallen by nearly 20 per cent from its record high close of $493.55 achieved on August 31.&nbsp;

Nvidia recently received notification that its AI chip orders, set for delivery to major Chinese technology firms in the next year, including giants like Alibaba Group, ByteDance (the parent company of TikTok), and Baidu, are now subject to the most recent export restrictions unveiled by the U.S. Commerce Department.

Tom Plumb, the CEO and lead portfolio manager at Plumb Funds, noted, "The stock is getting oversold," adding that Nvidia had previously indicated that the impact of these restrictions would be more long-term rather than immediate. Despite the current volatility, he still views Nvidia as a strong long-term investment.&nbsp;

A Nvidia spokesperson told Reuters about the "high demand" for its advanced chips, which often entail a significant lead time for production. The company is actively working on distributing orders to a broad range of customers in the United States and elsewhere, emphasising that these new export controls are not anticipated to have a significant short-term impact.&nbsp;

This development follows the Biden administration's imposition of export restrictions earlier this month on the shipment of AI chips designed by Nvidia and other firms to China. The objective of these restrictions is to prevent Beijing from accessing cutting-edge U.S. technologies that could potentially strengthen its military capabilities. These new regulations are scheduled to go into effect in November and encompass export controls extending to countries such as Iran and Russia.&nbsp;

(With inputs from Reuters)&nbsp;

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Shares of Nvidia Corp, a prominent player in the artificial intelligence (AI) industry, tumbled by nearly 5 per cent, reaching a five-month low in the wake of a report that the company may be compelled to cancel advanced chip orders valued at up to $5 billion destined for China.

Shares of Nvidia Corp, a prominent player in the artificial intelligence (AI) industry, tumbled by nearly 5 per cent, reaching a five-month low in the wake of a report that the company may be compelled to cancel advanced chip orders valued at up to $5 billion destined for China. According to Reuters, the reason behind this potential cancellation is the necessity to comply with new U.S. government restrictions. Nvidia's stock price plunged to as low as $392.30, representing a 4.7 per cent decline. This marks the lowest level the company's stock has reached since mid-June. The stock, which played a significant role in driving the Nasdaq's gains, has now fallen by nearly 20 per cent from its record high close of $493.55 achieved on August 31. Nvidia recently received notification that its AI chip orders, set for delivery to major Chinese technology firms in the next year, including giants like Alibaba Group, ByteDance (the parent company of TikTok), and Baidu, are now subject to the most recent export restrictions unveiled by the U.S. Commerce Department. Tom Plumb, the CEO and lead portfolio manager at Plumb Funds, noted, "The stock is getting oversold," adding that Nvidia had previously indicated that the impact of these restrictions would be more long-term rather than immediate. Despite the current volatility, he still views Nvidia as a strong long-term investment. A Nvidia spokesperson told Reuters about the "high demand" for its advanced chips, which often entail a significant lead time for production. The company is actively working on distributing orders to a broad range of customers in the United States and elsewhere, emphasising that these new export controls are not anticipated to have a significant short-term impact. This development follows the Biden administration's imposition of export restrictions earlier this month on the shipment of AI chips designed by Nvidia and other firms to China. The objective of these restrictions is to prevent Beijing from accessing cutting-edge U.S. technologies that could potentially strengthen its military capabilities. These new regulations are scheduled to go into effect in November and encompass export controls extending to countries such as Iran and Russia. (With inputs from Reuters) WATCH WION LIVE HERE

Nvidia's shares plunge to five-month low amid cancelled China orders

Asian stock markets kicked off the day with a positive note, opening in the green, while U.S. stocks faced losses for the third consecutive month. Oil prices made a marginal climb, and the price of gold dropped below $2,000 per ounce. These market dynamics set the stage for a day filled with economic activity and events to watch closely.

One of the key cues to keep an eye on today is the U.S. Federal Reserve's policy decision. The Federal Reserve is concluding its two-day monetary policy meeting, and the prevailing expectation in the markets is that the central bank will maintain the status quo by keeping interest rates unchanged.

In the Asian markets, Japan's Nikkei 225 Index opened with a significant rise of over 2 per cent, indicating strong early trading activity. South Korea's KOSPI also opened nearly 1 per cent higher. In contrast, Hong Kong and mainland Chinese stocks opened relatively flat.

In the U.S., the situation is a bit different. U.S. stocks closed higher on Tuesday, regaining some lost ground after a challenging month. However, it's important to note that U.S. stocks posted losses for the third straight month, which is a concerning trend in the financial markets.

The oil market saw a slight uptick in prices during early Asian trading hours. This increase comes as the market closely monitors the latest developments in the Israel-Hamas conflict. It's essential to remember that the trajectory of interest rates plays a critical role in the oil market. Interest rate hikes, aimed at curbing inflation, have the potential to slow down economic growth and reduce oil demand. Conversely, rate cuts, which are intended to stimulate spending, could increase oil consumption.

Meanwhile, the price of gold witnessed a decline, falling below the $2,000 per ounce mark. This drop followed a significant rally of over 8 per cent in the previous week. The primary reason for this decline is the anticipation of higher interest rates for a more extended period, which is impacting the demand for non-yielding assets like gold. Additionally, the strengthening U.S. dollar is contributing to the downward pressure on gold prices.

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Asian stock markets kicked off the day with a positive note, opening in the green, while U.S. stocks faced losses for the third consecutive month. Oil prices made a marginal climb, and the price of gold dropped below $2,000 per ounce.

Asian stock markets kicked off the day with a positive note, opening in the green, while U.S. stocks faced losses for the third consecutive month. Oil prices made a marginal climb, and the price of gold dropped below $2,000 per ounce. These market dynamics set the stage for a day filled with economic activity and events to watch closely. One of the key cues to keep an eye on today is the U.S. Federal Reserve's policy decision. The Federal Reserve is concluding its two-day monetary policy meeting, and the prevailing expectation in the markets is that the central bank will maintain the status quo by keeping interest rates unchanged. In the Asian markets, Japan's Nikkei 225 Index opened with a significant rise of over 2 per cent, indicating strong early trading activity. South Korea's KOSPI also opened nearly 1 per cent higher. In contrast, Hong Kong and mainland Chinese stocks opened relatively flat. In the U.S., the situation is a bit different. U.S. stocks closed higher on Tuesday, regaining some lost ground after a challenging month. However, it's important to note that U.S. stocks posted losses for the third straight month, which is a concerning trend in the financial markets. The oil market saw a slight uptick in prices during early Asian trading hours. This increase comes as the market closely monitors the latest developments in the Israel-Hamas conflict. It's essential to remember that the trajectory of interest rates plays a critical role in the oil market. Interest rate hikes, aimed at curbing inflation, have the potential to slow down economic growth and reduce oil demand. Conversely, rate cuts, which are intended to stimulate spending, could increase oil consumption. Meanwhile, the price of gold witnessed a decline, falling below the $2,000 per ounce mark. This drop followed a significant rally of over 8 per cent in the previous week. The primary reason for this decline is the anticipation of higher interest rates for a more extended period, which is impacting the demand for non-yielding assets like gold. Additionally, the strengthening U.S. dollar is contributing to the downward pressure on gold prices. WATCH WION LIVE HERE

Global Markets Roundup | Markets await US Fed's monetary policy decision today

In the Asia-Pacific region, the majority of markets saw declines ahead of a significant monetary policy decision by the Bank of Japan. Investors were also evaluating manufacturing data from China. The Bank of Japan is set to conclude its two-day policy meeting later today, and market participants are closely monitoring for any indications of the central bank raising its inflation forecasts. Further adjustments to its bond yield control may also be discussed.

Japan's Nikkei 225 dipped in anticipation of the central bank's inflation forecasts. On the other hand, South Korea's KOSPI continued its upward momentum for a second consecutive session.

Hong Kong's Hang Seng Index started the day in negative territory, mirroring the performance of mainland Chinese stocks.

Meanwhile, in the United States, stocks rallied on Monday, with the S&amp;P 500 moving out of correction territory. This sets the stage for a significant week that includes the Federal Reserve rate decision, employment report, and Apple's earnings.

The Dow Jones Industrial Average gained over 1 per cent, marking its best day since June 2. The S&amp;P 500 also recorded an increase of over 1 per cent, representing its most robust performance since late August.

Turning to the commodities market, oil prices rose during early Asian trading, amid global central bank meetings and ongoing high tensions in the Middle East. Notably, oil had fallen more than 3 per cent in the previous session due to escalated conflicts involving Israel's attacks on Gaza. However, concerns eased regarding disruptions in the region's oil supply caused by the Israel-Hamas war.

In the realm of precious metals, gold prices remained near the psychologically significant $2,000 level, supported by safe-haven demand driven by the Middle East conflict. Market participants are keenly watching this week's U.S. Federal Reserve policy meeting. It's worth noting that spot gold prices reached $2,009 per ounce on Friday, surpassing the $2,000 level for the first time since mid-May. Gold has been a standout performer this month, surging over 8 per cent since the onset of the war in Gaza on October 7th.

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In the Asia-Pacific region, the majority of markets saw declines ahead of a significant monetary policy decision by the Bank of Japan. Investors were also evaluating manufacturing data from China.

In the Asia-Pacific region, the majority of markets saw declines ahead of a significant monetary policy decision by the Bank of Japan. Investors were also evaluating manufacturing data from China. The Bank of Japan is set to conclude its two-day policy meeting later today, and market participants are closely monitoring for any indications of the central bank raising its inflation forecasts. Further adjustments to its bond yield control may also be discussed. Japan's Nikkei 225 dipped in anticipation of the central bank's inflation forecasts. On the other hand, South Korea's KOSPI continued its upward momentum for a second consecutive session. Hong Kong's Hang Seng Index started the day in negative territory, mirroring the performance of mainland Chinese stocks. Meanwhile, in the United States, stocks rallied on Monday, with the S&P 500 moving out of correction territory. This sets the stage for a significant week that includes the Federal Reserve rate decision, employment report, and Apple's earnings. The Dow Jones Industrial Average gained over 1 per cent, marking its best day since June 2. The S&P 500 also recorded an increase of over 1 per cent, representing its most robust performance since late August. Turning to the commodities market, oil prices rose during early Asian trading, amid global central bank meetings and ongoing high tensions in the Middle East. Notably, oil had fallen more than 3 per cent in the previous session due to escalated conflicts involving Israel's attacks on Gaza. However, concerns eased regarding disruptions in the region's oil supply caused by the Israel-Hamas war. In the realm of precious metals, gold prices remained near the psychologically significant $2,000 level, supported by safe-haven demand driven by the Middle East conflict. Market participants are keenly watching this week's U.S. Federal Reserve policy meeting. It's worth noting that spot gold prices reached $2,009 per ounce on Friday, surpassing the $2,000 level for the first time since mid-May. Gold has been a standout performer this month, surging over 8 per cent since the onset of the war in Gaza on October 7th. WATCH WION LIVE HERE

Global Markets Roundup | S&P 500 rebounds after correction

In India's rapidly evolving startup ecosystem, female entrepreneurs are carving their paths to success, transforming their ventures into thriving businesses. According to the <a href="https://ifmrlead.org/wp-content/uploads/2023/10/Women-in-India-s-Startup-Ecosystem-Report-WISER_October_2023.pdf">'Women in India's Startup Ecosystem Report' (WISER),</a> women-led startups in India have experienced substantial growth, accounting for 18 per cent of the startup landscape in the past five years.

Back in 2017, India boasted around 6,000 startups, with a mere 10 per cent being led by female founders. Fast-forward to 2022, and the number of startups has skyrocketed to 80,000, with women-led startups claiming an impressive 18 per cent&nbsp;share of the market.

<h2>Women-led startups, unicorns on the rise</h2>

The WISER report reveals a remarkable surge in unicorn startups, with 105 achieving this prestigious status in 2022, compared to just 13 in 2017. Notably, the percentage of women-led unicorn startups has jumped from 8 per cent&nbsp;to 17 per cent, highlighting their growing influence in the industry. A unicorn startup is defined as a company valued at over $1 billion in the venture capital arena.

The WISER report's data draws from the active participation of more than 200 startups, including prominent names like Urban Company, Meesho, and Zomato. This reflects the growing interest and support for women-led businesses within India's entrepreneurial community.

<a href="https://www.wionews.com/business-economy/explained-why-are-foreign-investors-no-longer-funding-indian-startups-583991">Also read |&nbsp;Explained: Why are foreign investors no longer funding Indian startups?&nbsp;</a>

In 2017, venture capital funding for Indian startups amounted to $5.9 billion, of which only 11 per cent was allocated to women-led startups. However, by 2022, total VC funding had soared to $21.9 billion, and the proportion directed towards women-led startups had risen to 20 per cent. This shift underscores a positive change in the investment landscape, enhancing the prospects of female entrepreneurs.

The WISER report accentuates the ascent of women in leadership positions within startups, setting them apart from their counterparts in corporate enterprises.

The data reveals that startups outperform traditional businesses, with 32% of women in managerial roles compared to 21 per cent&nbsp;in corporate settings. This disparity becomes even more pronounced at the CXO level, where corporates have just 5 per cent&nbsp;of women in leadership roles, while startups boast 18 per cent. Moreover, startups founded by women display a significant trend, with 2.5 times more women in senior roles compared to those founded by men.

<a href="https://www.wionews.com/business-economy/paytm-founder-launches-36-mn-fund-to-boost-ai-and-ev-startups-report-650639">Also read |&nbsp;Paytm founder launches $3.6 mn fund to boost AI and EV startups: Report</a>

Despite the overall progress, the report says&nbsp;that there is still work to be done. After a decade in their careers, 8 out of 10 men in startups occupy director-level positions or higher, whereas only 5 in 10 women attain such roles.

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In India's rapidly evolving startup ecosystem, female entrepreneurs are carving their paths to success, transforming their ventures into thriving businesses. According to the 'Women in India's Startup Ecosystem Report' (WISER), women-led startups in India have experienced substantial growth, accounting for 18 per cent of the startup landscape in the past five years.

In India's rapidly evolving startup ecosystem, female entrepreneurs are carving their paths to success, transforming their ventures into thriving businesses. According to the 'Women in India's Startup Ecosystem Report' (WISER), women-led startups in India have experienced substantial growth, accounting for 18 per cent of the startup landscape in the past five years. Back in 2017, India boasted around 6,000 startups, with a mere 10 per cent being led by female founders. Fast-forward to 2022, and the number of startups has skyrocketed to 80,000, with women-led startups claiming an impressive 18 per cent share of the market. Women-led startups, unicorns on the rise The WISER report reveals a remarkable surge in unicorn startups, with 105 achieving this prestigious status in 2022, compared to just 13 in 2017. Notably, the percentage of women-led unicorn startups has jumped from 8 per cent to 17 per cent, highlighting their growing influence in the industry. A unicorn startup is defined as a company valued at over $1 billion in the venture capital arena. The WISER report's data draws from the active participation of more than 200 startups, including prominent names like Urban Company, Meesho, and Zomato. This reflects the growing interest and support for women-led businesses within India's entrepreneurial community. Also read | Explained: Why are foreign investors no longer funding Indian startups? In 2017, venture capital funding for Indian startups amounted to $5.9 billion, of which only 11 per cent was allocated to women-led startups. However, by 2022, total VC funding had soared to $21.9 billion, and the proportion directed towards women-led startups had risen to 20 per cent. This shift underscores a positive change in the investment landscape, enhancing the prospects of female entrepreneurs. The WISER report accentuates the ascent of women in leadership positions within startups, setting them apart from their counterparts in corporate enterprises. The data reveals that startups outperform traditional businesses, with 32% of women in managerial roles compared to 21 per cent in corporate settings. This disparity becomes even more pronounced at the CXO level, where corporates have just 5 per cent of women in leadership roles, while startups boast 18 per cent. Moreover, startups founded by women display a significant trend, with 2.5 times more women in senior roles compared to those founded by men. Also read | Paytm founder launches $3.6 mn fund to boost AI and EV startups: Report Despite the overall progress, the report says that there is still work to be done. After a decade in their careers, 8 out of 10 men in startups occupy director-level positions or higher, whereas only 5 in 10 women attain such roles. WATCH WION LIVE HERE:

India's women-led startups surge 18%, unicorns climb to 17%: Report

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

WeWork nears bankruptcy amidst crushing debt and plummeting value

The embattled flexible workspace provider, WeWork, is reportedly on the verge of filing for bankruptcy in the coming week. This revelation triggered a sharp decline in the company's stock, with shares plummeting 32 per cent in after-hours trading. In the last one year, its shares have slide by almost 96 per cent.

<a href="https://www.wionews.com/business-economy/wework-nears-bankruptcy-amidst-crushing-debt-and-plummeting-value-653710">Read more here</a>

Nokia sues Amazon and HP for patent infringement in video streaming&nbsp;

Finnish telecom giant&nbsp;Nokia has taken legal action against Amazon and HP, filing a lawsuit in Delaware federal court that alleges patent infringement related to video streaming technology.&nbsp;

<a href="https://www.wionews.com/business-economy/nokia-sues-amazon-and-hp-for-patent-infringement-in-video-streaming-653725">Read more here</a>

Nvidia's shares plunge to five-month low amid cancelled China orders

Shares of Nvidia Corp, a prominent player in the artificial intelligence (AI) industry, tumbled by nearly 5 per cent, reaching a five-month low in the wake of a report that the company may be compelled to cancel advanced chip orders valued at up to $5 billion destined for China.&nbsp;

<a href="https://www.wionews.com/business-economy/nvidias-shares-plunge-to-five-month-low-amid-cancelled-china-orders-653757">Read more here</a>

Gold demand in India dims amid soaring prices: Report&nbsp;

The World Gold Council (WGC) on Tuesday expressed concerns that gold prices reaching near record highs may diminish the demand for gold in India during the country's peak festival season.&nbsp;

<a href="https://www.wionews.com/business-economy/gold-demand-in-india-dims-amid-soaring-prices-report-653761">Read more here</a>

'Deeply regret': FTX founder Sam Bankman-Fried faces intense scrutiny in fraud trial

FTX founder Sam Bankman-Fried, in his latest testimony, has expressed "regret" for failing to investigate the $8 billion debt his hedge fund borrowed from the cryptocurrency exchange before its collapse last November. Bankman-Fried also reiterated his belief that using money deposited by FTX customers into an Alameda-controlled bank account was "permissible."

<a href="https://www.wionews.com/business-economy/deeply-regret-ftx-founder-sam-bankman-fried-faces-intense-scrutiny-in-fraud-trial-653768">Read more here</a>

US consumer confidence hits a five-month low

Consumer confidence in the United States fell for a third straight month in October as gloomier economic forecasts and rising prices dampened optimism. Data released on Tuesday showed that The Conference Board's index dropped from 104.3 in September to 102.6 last month, which is a five-month low.&nbsp;

<a href="https://www.wionews.com/business-economy/us-consumer-confidence-hits-a-five-month-low-653811">Read more here</a>

Ukraine War: EU mulling fresh sanctions on Russia

The European Union is considering fresh sanctions on Russia that would impact Moscow's trade worth about $5 billion. The new sanctions may include export bans on welding machines, chemicals, and other technology used for military reasons.

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WION's Business Desk brings you this daily round up of global stories from the world of business and economy. WeWork nears bankruptcy amidst crushing debt and plummeting value The embattled flexible workspace provider, WeWork, is reportedly on the verge of filing for bankruptcy in the coming week.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. WeWork nears bankruptcy amidst crushing debt and plummeting value The embattled flexible workspace provider, WeWork, is reportedly on the verge of filing for bankruptcy in the coming week. This revelation triggered a sharp decline in the company's stock, with shares plummeting 32 per cent in after-hours trading. In the last one year, its shares have slide by almost 96 per cent. Read more here Nokia sues Amazon and HP for patent infringement in video streaming Finnish telecom giant Nokia has taken legal action against Amazon and HP, filing a lawsuit in Delaware federal court that alleges patent infringement related to video streaming technology. Read more here Nvidia's shares plunge to five-month low amid cancelled China orders Shares of Nvidia Corp, a prominent player in the artificial intelligence (AI) industry, tumbled by nearly 5 per cent, reaching a five-month low in the wake of a report that the company may be compelled to cancel advanced chip orders valued at up to $5 billion destined for China. Read more here Gold demand in India dims amid soaring prices: Report The World Gold Council (WGC) on Tuesday expressed concerns that gold prices reaching near record highs may diminish the demand for gold in India during the country's peak festival season. Read more here 'Deeply regret': FTX founder Sam Bankman-Fried faces intense scrutiny in fraud trial FTX founder Sam Bankman-Fried, in his latest testimony, has expressed "regret" for failing to investigate the $8 billion debt his hedge fund borrowed from the cryptocurrency exchange before its collapse last November. Bankman-Fried also reiterated his belief that using money deposited by FTX customers into an Alameda-controlled bank account was "permissible." Read more here US consumer confidence hits a five-month low Consumer confidence in the United States fell for a third straight month in October as gloomier economic forecasts and rising prices dampened optimism. Data released on Tuesday showed that The Conference Board's index dropped from 104.3 in September to 102.6 last month, which is a five-month low. Read more here Ukraine War: EU mulling fresh sanctions on Russia The European Union is considering fresh sanctions on Russia that would impact Moscow's trade worth about $5 billion. The new sanctions may include export bans on welding machines, chemicals, and other technology used for military reasons. Read more here

WION Business Wrap | WeWork's woes, fall in US consumer confidence