Brazil will be embarking on an ambitious 350 billion dollar 'growth acceleration' plan. The new economic plan pushes for more public-private partnership and greater focus on ecological transition. The plan is the brainchild of Lula da Silva, who first implemented it during his first tenure in the mid-2000s.

Brazil's economic revival plan | World Business Watch

Softbank Group Corp, a prominent player in the tech industry, is reportedly in talks to secure full ownership of arm ltd, a major chip designer. This chip designer has garnered attention for its potential IPO valuation of $60 billion to $70 billion on Nasdaq next month. Softbank, which currently holds 75% of arm, aims to seize control and potentially deliver gains to investors who have weathered previous losses.

Softbank considers full ownership of Arm ltd | World Business Watch

Teach for America, the non-profit organization known for placing college graduates in underserved schools across the US is making waves once again. With a surge of nearly 40% in recruits for the upcoming academic year, the program's popularity is on the rise.

Teach for America recruits surge by 40% amid pandemic

Analysts at Goldman Sachs predict the federal reserve to start cutting interest rates by the end of next June. Watch the video to know more.

Goldman Sachs: Fed rates cut in Q2 next year | World DNA

In an effort to support the ruble as it fell toward 100 per dollar, its weakest level in 16 months, the Bank of Russia stated it will stop buying foreign currency on the domestic market for the remainder of 2023. The central bank stated in a statement released late on Wednesday that "the decision was made in order to reduce the volatility of financial markets."

Trade decline hit Ruble's value; Ruble near the 100 per dollar mark

A bloomberg report claims adani enterprises is exploring selling its stake in its mumbai-listed consumer-staple joint venture with wilmar international, that could potentially free up capital for their core business, according to people familiar with the matter.

Adani mulls selling stake in wilmar joint venture: Reports

Shares of Apollo global management hit an all-time high after reporting a record profit. Apollo's insurance business benefited from rising interest rates and solid inflows. New York-based Apollo said Thursday that its net income for the April-June quarter jumped 75% to 1 billion dollars or 1.7 dollars per share. That's higher than the average prediction of 1.65 dollars per share from experts polled by Bloomberg.

Apollo management posts $1 bn profit | World Business News

Saudi Arabia's economic plans to move away from oil-related activity seem to have encountered a significant dent as business growth in the kingdom slowed in July. Saudi Arabia's non-oil industries started to feel the effects of rising interest rates, which hurt the overall business growth last month. Riyad bank said the purchasing managers' index for Saudi Arabia was 57.7 in July, down from 59.6 in June. While the figure was still well above 50, which differentiates growth from contraction, the slowdown was mostly caused by slower growth in new orders.

Saudi Arabia's business growth decelerates in July | World Business Watch

Mankind pharma limited one of India's leading pharmaceutical companies has achieved a remarkable milestone in its latest quarterly results.

Mankind pharma's Q1 highlights

Global factory activity remained in a slump in July, signifying the toll that slowing growth and weakness in China are taking on the manufacturing sector. S&P global's gauge of worldwide manufacturing activity holds steady at 48.7 in July, matching the lowest level since June 2020. factory output and new orders both slid to six-month lows, signifying a contraction in activity.

China's slowdown impacts global manufacturing

Amid the global economic gloom, the euro zone has begun to grow again as inflation continues to cool down. Latest data shows that euro zone's gross domestic product rose by 0.3% between April and June, compared with the January to march quarter, when the economy had stagnated. Moreover, the GDP had fallen by 0.1% in the last three months of 2022. Euro zone's inflation continued to fall in July. The Consumer Price Index (CPI) for the euro zone fell to 5.3%, down from 5.5% in June.

Euro zone grows 0.3% in April-June quarter | World Business Watch

Panasonic reported a 42% surge in first-quarter operating profit, buoyed by a weaker Yen and stronger sales in its automotive and energy segments. Panasonic’s operating profit came to $637 million in the three months to end-June, almost exactly in line with analyst forecasts. Overall, first-quarter operating profit of the battery unit came to $206 million, jumping more than 80% from the same period the previous year.

Panasonic’s Q1 profit surges 42% | World Business Watch

To head its India and South Asia operations, Microsoft Corp has named Puneet Chandok as the corporate vice president.&nbsp;

As per a statement released on Tuesday, Chandok will take the reins from Anant Maheshwari, effective September 1st.

<h2>India's digital awakening</h2>

In a statement, Chandok&nbsp;said: "As India expands its own digital public infrastructure, I believe that this mission is more relevant here than ever before."

Reuters reports that along with India, Chandok will oversee the integration of Microsoft's businesses across multiple other nations in South Asia, namely Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/exxonmobil-in-lithium-supply-talks-with-tesla-ford-report-621264">ExxonMobil in lithium supply talks with Tesla, Ford:&nbsp;Report</a>

The move reportedly comes as the technology giant seeks to grab a bigger share of the cloud technology market, further boosting the company’s presence in the region, while "deepening its focus on key industries through a customer-centric approach with generative AI at its core."

Microsoft, as per Reuters, has been investing more in India, which has emerged as a global innovation hub.

<h2>Company announcement</h2>

Announcing Chandok's appointment, Microsoft Asia President Ahmed Mazhari said: "We are delighted to announce that Puneet will be joining Microsoft India."

"Puneet has a strong track record of building and growing technology businesses and leveraging technology to deliver impact and change. As we embrace an AI-led future, Puneet’s leadership will play a vital role in ensuring Microsoft’s ongoing success in South Asia, and I extend my thanks to Anant Maheshwari for setting us on a growth path," he added.

Also read |&nbsp;<a href="https://www.wionews.com/world/argentina-wont-use-one-dollar-of-reserves-to-repay-imf-says-economy-minister-621283">Argentina won't use 'one dollar' of reserves to repay IMF, says economy minister&nbsp;</a>

<h2>Past experience</h2>

Chandok joins Microsoft Corp after working as Amazon Web Services (AWS) India and South Asia Vice President for over four years.&nbsp;

He holds a master’s in business administration (MBA) from the Indian Institute of Management Calcutta, a bachelor’s degree in commerce, and diplomas in Computer Programming, Networking, and High-level Computer Systems.

During his time with AWS, Puneet as per Microsoft " led the company’s India and South Asia business, working closely with enterprises, digital businesses, startups, and SMBs to help them reduce technical debt, bring in agility, and innovate."

Before AWS, He was a Partner at a global management consulting firm McKinsey in India and Asia and also held senior regional and global roles at IBM.

(With inputs from agencies)

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To head its India and South Asia operations, Microsoft Corp has named Puneet Chandok as the corporate vice president. As per a statement released on Tuesday, Chandok will take the reins from Anant Maheshwari, effective September 1st.

To head its India and South Asia operations, Microsoft Corp has named Puneet Chandok as the corporate vice president. As per a statement released on Tuesday, Chandok will take the reins from Anant Maheshwari, effective September 1st. India's digital awakening In a statement, Chandok said: "As India expands its own digital public infrastructure, I believe that this mission is more relevant here than ever before." Reuters reports that along with India, Chandok will oversee the integration of Microsoft's businesses across multiple other nations in South Asia, namely Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka. Also read | ExxonMobil in lithium supply talks with Tesla, Ford: Report The move reportedly comes as the technology giant seeks to grab a bigger share of the cloud technology market, further boosting the company’s presence in the region, while "deepening its focus on key industries through a customer-centric approach with generative AI at its core." Microsoft, as per Reuters, has been investing more in India, which has emerged as a global innovation hub. Company announcement Announcing Chandok's appointment, Microsoft Asia President Ahmed Mazhari said: "We are delighted to announce that Puneet will be joining Microsoft India." "Puneet has a strong track record of building and growing technology businesses and leveraging technology to deliver impact and change. As we embrace an AI-led future, Puneet’s leadership will play a vital role in ensuring Microsoft’s ongoing success in South Asia, and I extend my thanks to Anant Maheshwari for setting us on a growth path," he added. Also read | Argentina won't use 'one dollar' of reserves to repay IMF, says economy minister Past experience Chandok joins Microsoft Corp after working as Amazon Web Services (AWS) India and South Asia Vice President for over four years. He holds a master’s in business administration (MBA) from the Indian Institute of Management Calcutta, a bachelor’s degree in commerce, and diplomas in Computer Programming, Networking, and High-level Computer Systems. During his time with AWS, Puneet as per Microsoft " led the company’s India and South Asia business, working closely with enterprises, digital businesses, startups, and SMBs to help them reduce technical debt, bring in agility, and innovate." Before AWS, He was a Partner at a global management consulting firm McKinsey in India and Asia and also held senior regional and global roles at IBM. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Microsoft appoints Puneet Chandok as lead for its India, South Asia operations

In a big boost to India's global ambitions, India's economy will soon be among the world's top three. That's the projection by Indian bank SBI in its research report. According to SBI's latest ecowrap, India is likely to be the world's third largest economy by 2027-28. The report credits economic reforms since 2014 for India achieving the target by 2027-28.

India to be third largest economy by 2027-28: Report | World Business Watch

The US economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the federal reserve’s 16-month-long fight to bring down inflation.

US economy accelerated to a 2.4% growth rate in April-June quarter | World Business Watch

We tell you all the factors behind the Chinese economy losing its fire. We also look at whether there is a new contender that could benefit from China's loss?

Why is China's economy losing its fire?

The European Central Bank (ECB) has raised its interest rate by 0.25 percentage points. With the latest hike, the ECB's current interest rate stands at 3.75%, this is a 23-year-high and indicates that the fight against inflation is far from over.

European central bank hikes rates from 3.5% to 3.75% | World Business Watch

The EU has launched an antitrust investigation into tech giant Microsoft, and it all revolves around their bundling tactics. The EU's concerns revolve around Microsoft's bundling of its video and chat application, teams, together with its other office products. The European Commission, the EU's executive arm, suspects that this practice may be tipping the scales in favor of teams, potentially denying customers the freedom to choose whether to include the app when subscribing to office 365.

Microsoft faces EU antitrust heat

The Bank of England is set to incur a loss of more than $ 190 billion from the sale of bonds due to the high interest rates. Reports suggest that the payment will be paid by the treasury out of current spending. The development comes after successive chancellors failed to set aside funds to cover losses.

Bank of England set to incur $190 bn loss from bond sales | World Business Watch

The rise of Artificial Intelligence is all set to revolutionise the nature of work. But this could also be bad news for women workers in the United States. A Mckinsey report states that more American women are more likely to lose their jobs by the end of this decade, compared to men, due to the rise of AI and automation.

Will AI snatch jobs from women? | World Business Watch

Top banks have finally spoken about a major threat, which will eventually put pressure on the global economy. Top European banks have pointed out that. Bad loans are going to negatively impact global finance, as well as people's confidence in the banking system.

Top European banks worry about bad loans | World Business Watch

The field of Information Technology is rapidly evolving, however, there's been an urgent need for laws and regulations to keep pace with advancements in the digital space soon. The Indian Government plans to bring in new and updated legislations in the field of IT and digital.

Indian Min Rajeev Chandrashekhar speaks to WION, says 'Digital India Act addresses new challenges'

Just ahead of a possible interest rate hike by the US fed, the world's largest economy has seen a two-year-high in consumer confidence. As per the conference board, a business research group, consumer confidence index rose to 117 in July from 110.1 in June. This was the highest since July 2021.

Consumer confidence at its highest since July 2021

In an overwhelmingly bipartisan move, the Senate has backed a game-changing legislation that aims to keep a tight leash on US investments in Chinese technologies, from cutting-edge semiconductors to Artificial Intelligence wonders. With a 91 to 6 vote, lawmakers are taking decisive action to secure America's critical technologies.

US senate's new rules for China deals | World Business Watch

The International Monetary Fund has raised its 2023 global growth estimates slightly. This is after the world recorded resilient economic activity in the first quarter. However, it warned that persistent challenges were dampening the medium-term outlook. The world economy is now projected to grow at 3.0% in 2023. That's up 0.2 percentage point from its April forecast. Its outlook for 2024 remained unchanged, which was also at 3.0%.

IMF provides a glimmer of hope | World DNA

In a major setback, India has rejected Chinese EV maker BYD's proposal to set up a 1 billion dollar plant. The EV maker had a proposed a joint venture with a Hyderabad-based company. Earlier this month, the BYD submitted a plan to the Indian Government, seeking permission to build EVS and car batteries with Megha Engineering & Infrastructure ltd. Reports suggest that security concerns over Chinese investments could be the reason behind India's blocking the deal.

India says no to BYD's investment | World Business Watch

In a significant development, a federal court has rejected the FTC's attempt to halt the $69 billion Microsoft deal to acquire gaming powerhouse Activision blizzard. The court ruling determined that the FTC failed to present compelling evidence that the deal would violate antitrust laws.

No pause in $69 bn Microsoft-activision merger deal

When the world talks of India's success story, UPI, India's very own digital payments platforms, takes the position of pride. It has not only made making transactions quick and efficient but is also an example of India's growing fintech prowess. Even as UPI continues with its spectacular journey in India, where it hit a record 9 billion transactions in may, the digital payment platform is spreading its wings abroad.

India's UPI's growing global footprint

The US inflation rate has taken a significant dip, hitting a more than two-year low. This development could potentially mark a turning point in the cost-of-living emergency, and have implications for the federal reserve's monetary tightening strategies. The latest data reveals that consumer-price inflation for the previous month stands at just 3%, which is a significant drop from the highest level seen last year in four decades.

US inflation rate hits 2-year low

Food prices, constituting almost half of the inflation index, have climbed steeply, contributing to the overall increase. Alongside this, clothing and footwear prices have seen a substantial jump, further exacerbating the situation. With housing costs also on the rise, the inflationary pressure is mounting.

India’s retail inflation hits 4.81% | World Business Watch

The global public debt has risen to record levels. A UN report states that global debt rose to 92 trillion dollars in 2022. Domestic and external debt worldwide has increased more than five times in the last two decades. The pace has outstripped economic growth too, as the gross domestic product has only tripled since 2002.

Global debt hits record high

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