Ethiopia has become the latest african nation to default, failing to pay a $33 million coupon on its bond by the December 11 deadline. The country joins the ranks of Zambia, Ghana, and Sri Lanka in defaulting on eurobond payments. Ethiopia had recently reached an agreement with bilateral creditors to suspend loan payments, requesting an extension of maturity to January 2032 and a reduced yield of 5.5%.

Ethiopia joins Zambia, Ghana and Sri Lanka in default list | World Business Watch

A groundbreaking story from the heart of Arizona, where a tidal wave of solar panels is reaching the end of its life cycle. As the world embraces renewable energy, the challenge arises: what do we do with the mounting waste? In a race against time, companies like we recycle solar are pioneering innovative solutions, turning potential pollution into gold.

Turning solar panels and wind blades into ‘Gold’ | World Business Watch

Russia grapples with an unprecedented workforce crisis, leaving 4.8 million jobs unfilled. A mass exodus of skilled professionals, triggered by a military operation and mobilisation call, has sent shockwaves through the nation's economy. From drivers to shop workers, industries are struggling, prompting companies to raise wages in a bid to attract talent.

Russia faces acute labour crisis in 2023 and beyond | World Business Watch

A seismic shift is underway in the tech industry as two giants, Google and Paytm, grapple with the transformative power of Artificial Intelligence. Both companies are in the midst of significant layoffs, with over a thousand employees impacted, shedding light on the evolving landscape where technology meets the workforce.

Google & Paytm navigate layoffs in the AI era | World Business Watch

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 shares slump on safety scandal at Daihatsu, vehicle recall

The landscape of luxury retail is undergoing a transformation. Once a haven for wealthy Chinese shoppers seeking high-end brands, Hong Kong's allure is shifting, reshaping the city's visitor economy.

Despite closures, Hong Kong leads in luxury spending

2023 was meant to be the year that Hong Kong made a comeback to the global scene, kicking off a period tainted by protests, political repression, and covid restrictions. Instead, this year ended up being one of the worst years for the financial centre in recent memory. The hang seng index has dropped 15%, placing it among the largest decliners in the world.

Hong Kong's comeback story turns terrible this year

The german government is tightening its purse strings and the first casualty seems to be the electric vehicles industry. The federal government has decided to end its subsidy programme for the sector.

Germany ends e-vehicle subsidy | World Business Watch

The ongoing political tensions have an underlying economic dimension to them. The thickly forested esequibo region is at the centre the dispute. While it is a part of english-speaking guyana, venezuela has revived its claim to the region. The dispute is at least two centuries old and has its origins in european colonialism. The dispute would have lingered without any flare up. But things took a drastic turn in 2015. U.s. Firm exxon found crude oil reserves in esequibo's offshore waters.

How oil discovery transformed esequibo dispute | World Business Watch

Indonesia workers are making a beeline for japan and this trend is likely to continue for the next few years. This is being seen as a win-win for both countries, as workers from indonesia secure employment while japan gets much-needed manpower.

Indonesian workers flock to japan | World Business Watch

Germany makes a bold fiscal move as it approves the 2023 supplementary budget, breaking free from its self-imposed borrowing cap. A recent constitutional court ruling forced the government to rethink spending plans, leading to a dramatic shift in financial strategy. The absolute majority in the bundestag, with 414 votes in favor, 242 against, and 9 abstentions, paves the way for the unprecedented move to exceed the debt brake by 44.8 billion euros, addressing a 60-billion-euro financial gap.

Green transition & fiscal strain: Impact of Germany's debt brake suspension

In a big set back for crypto firms in the united states, the US Securities and exchange commission has denied a petition by coinbase, which sought new rules for the digital asset sector. The crypto exchange is all set to challenge this decision in court.

US Securities regulator says no to crypto rules

Sri lankan economy has expanded for the first time since the end of 2021. Government data suggests that the economy grew by 1.6% in the quarter ending in september. That was largely due to moderating inflation, a strengthening currency & lower interest rates.

Economy expands for the first time since 2021| World Business Watch

"There are three things about market expansion - geographical, behavioural and cultural. One thing which we have been focusing on very clearly now is behavioral," says Amit Sarda, MD, Soulflower Co Ltd, to Jasper Reid.

Amit Sarda who is the MD, Soulflower Co Ltd speaks to WION

"The core of our business thought was how do we address the needs of our consumers and how do we make the lives of our consumers easier," says Rakesh Kaul, MD & CEO, Livpure Private Limited to Jasper Reid.

Rakesh Kaul who is the MD & CEO, Livpure Private Limited speaks to WION

A unique conversational show that brings the top leaders across all industries, sharing their insights on different agendas, right at the centre of WION's headquarters, a joint initiative with DMAasia.

Brand leaders from different businesses and brands in conversation with WION

"Mahindra Holidays was set up about 27 years back based on 2 basic human insights- a deep sense of family bonding & a sense of wanderlust," says Pratik Mazumder, CMO, Mahindra Holidays & Resorts India Limited, to Jasper Reid.

Pratik Mazumder, the CMO, Mahindra Holidays & Resorts India Limited speaks to WION

"We are an IT services company, we play with technology... Post covid we are seeing a different change in the thought process of youngsters," says Satinder Juneja, Global Marketing Head of Birlasoft to Jasper Reid.

Satinder Juneja who is the Global Marketing Head of Birlasoft speaks to WION

"We have been an independent agency largely local and I believe that's an advantage for us... we are vocal for local," says Vishal Chinchankar, CEO, Madison Digital & Madison Alpha, to Jasper Reid.

Vishal Chinchankar who is the CEO, Madison Digital & Madison Alpha speaks to WION

Alphabet just got a reminder of how crucial it is for investors to believe the company has a successful ai strategy. This past week, the owner of Google saw a $87 billion rise in market worth in a single day following the demonstration of its Gemini big language model. The company says Gemini can compete with OpenAI's ChatGPT. Alphabet must demonstrate to investors how its technological expertise will increase sales if it hopes to maintain those gains.

Alphabet’s AI model ‘Gemini’ sparks $87 bn surge | World Business Watch

Amazon has secured a major legal victory as the European Union's top court ruled in favour of the tech giant. The court stated that it does not have to pay $273 million in back taxes to Luxembourg. This decision comes as a blow to EU antitrust Chief Margrethe Vestager's efforts to crack down on preferential tax deals for multinational corporations.

Amazon's tax deal with Luxembourg deemed legal | World Business Watch

After firing nine senior executives, GM's cruise is continuing its restructuring of the struggling autonomous car industry by laying off 24% of its workforce. President Mo Elshenawy sent a note to staff on thursday informing them of the layoffs.

GM’s Cruise slashes 24% of its workforce | World Business Watch

South Africa's government turns to the business community to boost economic growth. The country aims to boost GDP by as much as six percentage points by fixing the country's collapsing ports and freight-rail network.

South Africa's plans to fire up economy | World Business Watch

Saudi Aramco buys a portion of fuel retailer gas & oil Pakistan Ltd. That marks its entry into the South Asian country.

Saudi Aramco enters Pakistan | World Business Watch

President Xi Jinping and other senior chinese officials pledged to prioritise industrial strategy above stimulus spending in the next year, that is sure to disappoint investors.

China's economic focus shifts to AI amid US Tensions | World Business Watch

A recent Reuters report sparks a current of uncertainty in the electric vehicle landscape, revealing a potential speed bump on the road to an all-electric future. Buckle up as we navigate the twists and turns of the ev market, where projections might be hitting a few potholes.

Explained: why EVs are hitting a speed bump globally? | World Business News

Big tech's AI profits loom over S&P 500. The ability of the largest tech companies to turn their investments in artificial intelligence into even greater profits will determine the fate of the S&P 500.

Outlook for investors betting on AI | World Business Watch

In the coming week, central bankers, from Washington to Frankfurt to London and beyond, will make their final policy decision for the year. That comes at a time of apprehension about the direction the global inflation cycle is taking.

Global rate-cut standoff looms | World Business Watch

With key state elections being concluded in India, the focus shifts to the General Elections where Prime Minister Narendra Modi will be looking to secure a third term in office. But how are markets placing their bets for the biggest democratic exercise in the world. That's what this report decodes.

Indian markets surge on political optimism | World Business Watch

India's Paytm will issue fewer personal loans of 600 dollars or less. This annoucement comes weeks after India's Central Bank tightened rules on consumer lending after a surge in demand.

Paytm to issue fewer personal loans of 600 dollars or less | World Business Watch

The global fast-food giant, McDonald's, is all set to expand in the next few years. That's what the fast-food giant said while revealing its future plans. The plan includes expanding to 50,000 restaurants by 2027.

McDonald's global plans include expanding to 50,000 restaurants by 2027 | World Business News

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