Japan's economy managed to dodge a technical recession, as per revised government data released on Monday.

The revised Gross Domestic Product (GDP) figures for the October-December period indicated an expansion, although weaker than anticipated, sparking concerns over the slow economic recovery.

According to the Cabinet Office, the revised GDP expanded at an annualised rate of 0.4 per cent, a notable improvement from the initial estimate of a 0.4 per cent contraction.

However, this upward revision fell short of economists' expectations, with a median forecast predicting a 1.1 per cent uptick in GDP, as revealed by a Reuters poll.

Regardless of the revision, concerns lingered over the dull performance of domestic demand, particularly in consumption, as noted by Saisuke Sakai, senior economist at Mizuho Research and Technologies.

Sakai remarked, "The headline is an upward revision, but domestic demand remains lackluster, particularly in consumption".

The positive revision in GDP figures was primarily driven by a 2.0 per cent increase in capital expenditure quarter-on-quarter, surpassing the preliminary estimate of a 0.1 per cent decrease.

Nonetheless, it still fell short of the median market forecast of a 2.5 per cent rise.

On the other hand, private consumption, a component constituting approximately 60 per cent of Japan's economy, experienced a decline of 0.3 per cent in the October-December period, slightly worse than the initial estimate.

Factors such as seafood and household appliances contributed to the downward pressure on consumption.

External demand contributed 0.2 percentage points to real GDP, remaining unchanged from the preliminary reading.

However, concerns regarding the current quarter loomed large, with predictions of a potential contraction due to various factors such as the slowdown in the Chinese economy, production halts at Toyota Motor Corp, and weak consumption, as per Sakai.

He observed, "In the current January-March quarter, the Japanese economy could suffer contraction after factoring in the slowdown in the Chinese economy, production halt at a unit of Toyota Motor Corp, and weak consumption".

Amid the economic indicators pointing to weaknesses, speculation intensified regarding the Bank of Japan's (BOJ) upcoming decisions.

There were growing expectations that the BOJ might abandon its negative interest rates as early as the following month.

This anticipation was fueled partly by recent hawkish comments from board members, suggesting that Japan was progressing towards the central bank's 2 per cent inflation target.

Marcel Thieliant, head of Asia-Pacific at Capital Economics, suggested, "The Bank of Japan will likely abandon the negative interest rates by next month citing a growing prospect of hefty pay hikes at annual wage talks with labor unions".

The looming decision of the BOJ gained further attention with Japan's largest trade union confederation, Rengo, demanding pay raises this year, exceeding 5 per cent for the first time in three decades.

The BOJ has stressed strong wage growth as crucial for unwinding its radical monetary policies spanning over a decade.

However, recent economic data painted a contrasting picture, with real wages shrinking for the 22nd consecutive month in January, and household spending witnessing the largest drop in 35 months.

As the BOJ prepares for its two-day policy-setting meeting scheduled for March 18-19, the economic indicators and demands from labor unions add complexity to the central bank's decision-making process.

(With inputs from Reuters)

Japan's economy managed to dodge a technical recession, as per revised government data released on Monday. The revised Gross Domestic Product (GDP) figures for the October-December period indicated an expansion, although weaker than anticipated, sparking concerns over the slow economic recovery.

Japan's economy managed to dodge a technical recession, as per revised government data released on Monday. The revised Gross Domestic Product (GDP) figures for the October-December period indicated an expansion, although weaker than anticipated, sparking concerns over the slow economic recovery. According to the Cabinet Office, the revised GDP expanded at an annualised rate of 0.4 per cent, a notable improvement from the initial estimate of a 0.4 per cent contraction. However, this upward revision fell short of economists' expectations, with a median forecast predicting a 1.1 per cent uptick in GDP, as revealed by a Reuters poll. Regardless of the revision, concerns lingered over the dull performance of domestic demand, particularly in consumption, as noted by Saisuke Sakai, senior economist at Mizuho Research and Technologies. Sakai remarked, "The headline is an upward revision, but domestic demand remains lackluster, particularly in consumption". The positive revision in GDP figures was primarily driven by a 2.0 per cent increase in capital expenditure quarter-on-quarter, surpassing the preliminary estimate of a 0.1 per cent decrease. Nonetheless, it still fell short of the median market forecast of a 2.5 per cent rise. On the other hand, private consumption, a component constituting approximately 60 per cent of Japan's economy, experienced a decline of 0.3 per cent in the October-December period, slightly worse than the initial estimate. Factors such as seafood and household appliances contributed to the downward pressure on consumption. External demand contributed 0.2 percentage points to real GDP, remaining unchanged from the preliminary reading. However, concerns regarding the current quarter loomed large, with predictions of a potential contraction due to various factors such as the slowdown in the Chinese economy, production halts at Toyota Motor Corp, and weak consumption, as per Sakai. He observed, "In the current January-March quarter, the Japanese economy could suffer contraction after factoring in the slowdown in the Chinese economy, production halt at a unit of Toyota Motor Corp, and weak consumption". Amid the economic indicators pointing to weaknesses, speculation intensified regarding the Bank of Japan's (BOJ) upcoming decisions. There were growing expectations that the BOJ might abandon its negative interest rates as early as the following month. This anticipation was fueled partly by recent hawkish comments from board members, suggesting that Japan was progressing towards the central bank's 2 per cent inflation target. Marcel Thieliant, head of Asia-Pacific at Capital Economics, suggested, "The Bank of Japan will likely abandon the negative interest rates by next month citing a growing prospect of hefty pay hikes at annual wage talks with labor unions". The looming decision of the BOJ gained further attention with Japan's largest trade union confederation, Rengo, demanding pay raises this year, exceeding 5 per cent for the first time in three decades. The BOJ has stressed strong wage growth as crucial for unwinding its radical monetary policies spanning over a decade. However, recent economic data painted a contrasting picture, with real wages shrinking for the 22nd consecutive month in January, and household spending witnessing the largest drop in 35 months. As the BOJ prepares for its two-day policy-setting meeting scheduled for March 18-19, the economic indicators and demands from labor unions add complexity to the central bank's decision-making process. (With inputs from Reuters)

Japan's economy evades recession, but concerns persist over weak recovery

It was a dream come true for a young entrepreneur Nazim Nazeer, 20, from South Kashmir’s Pulwama district, when he got a chance not only to interact with India’s Prime Minister Narendra Modi but also to click a selfie with him.

His picture is already viral all over social media sites and his happiness knows no bounds

Nazim started his bee-keeping hobby during his school days. He started the whole bee-keeping business with just two boxes. Taking advantage of the schemes provided by the government, he was able to expand his business manyfold.

From just two boxes, Nazim has now expanded his business to two thousand boxes producing over 5000 kgs of honey annually.

“I consider myself extremely lucky that I got an opportunity to meet the Honourable PM Modi. A few years ago, I had taken a selfie with a statue of honourable PM Modi, and it was a dream come true to take a selfie with him in real. He called me a friend and I am so happy and thankful for his kind gesture," said beekeeper Nazim Nazeer.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/bengalurus-rameshwaram-cafe-blast-trail-of-suspect-revealed-as-nia-takes-four-into-custody-report-697910">Bengaluru's Rameshwaram cafe blast: Trail of suspect REVEALED as NIA takes four into custody: Report</a>

"I started beekeeping in the year 2018, and not only beekeeping but we have been selling honey in major quantities. We have our own brand now. We have been selling honey via social media sites. We have been part of around seven exhibitions around India. We sell honey for around one lakh rupees in every exhibition," he added.&nbsp;

While the picture of Nazim with Prime Minister Modi has gone viral, it’s likely to push his business too. People have been enquiring about him and his business since yesterday after his interaction and photo with the prime minister.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/indian-cabinet-approves-4-hike-in-dearness-allowance-ahead-of-lok-sabha-polls-697907">Indian Cabinet approves 4% hike in Dearness Allowance ahead of Lok Sabha polls</a>

Prime Minister Modi took to his X social media handle and wrote, "A memorable selfie with my friend Nazim. I was impressed by the good work he’s doing. At the public meeting, he requested a selfie and was happy to meet him. My best wishes for his future endeavours."&nbsp;

Watch |&nbsp;<a href="https://www.wionews.com/videos/pm-modi-cuts-cooking-gas-cylinder-price-by-100-rupees-weeks-before-polls-697919">PM Modi cuts cooking gas cylinder price by 100 rupees, weeks before polls</a>

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Nazim was given a membership of the Farmers Producers Organisation. He says the government schemes have helped him a lot to take his business to new heights. He also said that the younger generation needs to take up this business and help from the government.&nbsp;

“The Holistic Agriculture Development Program&nbsp;also benefited us. We have been given a collection and storage centre by the government. I have gone through a huge struggle. I remember I used to sell two&nbsp;kgs of honey. And then it went to 50 kgs and after that to 100 kgs. I have a buyer in Hyderabad now and I just dispatched 600 kgs of honey a few days ago. It’s touching the sky now,"&nbsp;said Nazeer.&nbsp;

The central government has initiated hundreds of new schemes for the youth of Jammu and Kashmir in the last five years.&nbsp; 
&nbsp;

It was a dream come true for a young entrepreneur Nazim Nazeer, 20, from South Kashmir’s Pulwama district, when he got a chance not only to interact with India’s Prime Minister Narendra Modi but also to click a selfie with him.

It was a dream come true for a young entrepreneur Nazim Nazeer, 20, from South Kashmir’s Pulwama district, when he got a chance not only to interact with India’s Prime Minister Narendra Modi but also to click a selfie with him. His picture is already viral all over social media sites and his happiness knows no bounds Nazim started his bee-keeping hobby during his school days. He started the whole bee-keeping business with just two boxes. Taking advantage of the schemes provided by the government, he was able to expand his business manyfold. From just two boxes, Nazim has now expanded his business to two thousand boxes producing over 5000 kgs of honey annually. “I consider myself extremely lucky that I got an opportunity to meet the Honourable PM Modi. A few years ago, I had taken a selfie with a statue of honourable PM Modi, and it was a dream come true to take a selfie with him in real. He called me a friend and I am so happy and thankful for his kind gesture," said beekeeper Nazim Nazeer. Also Read | Bengaluru's Rameshwaram cafe blast: Trail of suspect REVEALED as NIA takes four into custody: Report "I started beekeeping in the year 2018, and not only beekeeping but we have been selling honey in major quantities. We have our own brand now. We have been selling honey via social media sites. We have been part of around seven exhibitions around India. We sell honey for around one lakh rupees in every exhibition," he added. While the picture of Nazim with Prime Minister Modi has gone viral, it’s likely to push his business too. People have been enquiring about him and his business since yesterday after his interaction and photo with the prime minister. Also Read | Indian Cabinet approves 4% hike in Dearness Allowance ahead of Lok Sabha polls Prime Minister Modi took to his X social media handle and wrote, "A memorable selfie with my friend Nazim. I was impressed by the good work he’s doing. At the public meeting, he requested a selfie and was happy to meet him. My best wishes for his future endeavours." Watch | PM Modi cuts cooking gas cylinder price by 100 rupees, weeks before polls × Nazim was given a membership of the Farmers Producers Organisation. He says the government schemes have helped him a lot to take his business to new heights. He also said that the younger generation needs to take up this business and help from the government. “The Holistic Agriculture Development Program also benefited us. We have been given a collection and storage centre by the government. I have gone through a huge struggle. I remember I used to sell two kgs of honey. And then it went to 50 kgs and after that to 100 kgs. I have a buyer in Hyderabad now and I just dispatched 600 kgs of honey a few days ago. It’s touching the sky now," said Nazeer. The central government has initiated hundreds of new schemes for the youth of Jammu and Kashmir in the last five years.

Nazim Nazeer's dream selfie with PM Modi goes viral, beekeeper credits govt schemes for business success

On this International women's day let's bring you a&nbsp;story from the late 19th century.

Born into poverty, Madam C.J. Walker wasn't just one of the first Black millionaires, she was a self-made titan. 
 
Her secret weapon? Hair care. In just over a decade, her empire, aptly named after herself, blossomed, generating millions (equivalent to nearly $10 million today) by empowering Black women to embrace their unique beauty. 
 
But her legacy extends beyond the bottom line. 
 
As her wealth grew, so did her heart. Madam Walker became a beacon of philanthropy and a champion for Black rights, etching her name not just in business history, but in the fight for equality. 
 
Foundations of flourishing 
 
Born Sarah Breedlove in 1867, life wasn't kind. Orphaned young, she married at 14, but fate dealt another blow when her husband died, leaving her with a daughter to raise. 
 
Seeking a new start, Sarah embarked to St. Louis in 1889. This bustling city sparked an interest in hair care. While juggling laundry and cooking jobs, Sarah battled hair loss and sought help from a local Black entrepreneur, Anne Turnbo Pope. 
 
Under Pope's treatments, her scalp thrived, and soon Sarah found herself selling Pope's remedies, becoming a door-to-door advocate for healthy hair. 
 
By 1905, her journey took her to Denver, where she became a sales agent for Pope, ready to spread the gospel of good hair care across the Western frontier. 
 
Triumphs and milestones 
 
In 1906, Sarah embarked on a bold journey with her hair treatment. She claimed inspiration struck her in a dream, where a towering figure, described as "a big Black man," imparted wisdom about a miraculous "remedy from Africa." 
 
Yet, whispers suggest her concoctions might have been influenced by Pope-Turnbo's elixirs, possibly refined with the assistance of a pharmacist friend she met while moonlighting as a cook. 
 
Under a new name Mrs. C.J. Walker, following her marriage to Charles Joseph Walker, Sarah introduced her inaugural product, the renowned Madam C.J. Walker's Wonderful Hair Grower, blending coconut oil and sulfur into a potent conditioner, all for a mere $1.25 investment. 
 
The returns? A staggering $1,000 that year alone. 
 
Her success reached new heights as she expanded her product line, showcasing an entire regimen during an extensive sales tour across the South, tripling revenues in its wake. 
 
By 1908, she had established a school in Pittsburgh, training "hair culturists" in her methods. Indianapolis became her next destination in 1910, transforming into the epicentre of the Madam C.J. Walker Manufacturing Company, complete with a bustling factory. 
 
Branch offices, salons, and training schools grew across cities, with Walker herself journeying to the Caribbean and Central America by 1913 to expand her empire. 
 
The financial reports of the Walker Manufacturing Company, preserved at the Indiana Historical Society, paint a vivid picture of prosperity: 
 
- 1917: $175,937 
- 1918: $275,937.88 
- 1919: $486,762 
- 1920: $595,353 
 
To review, $595,353 in 1920 translates to an amazing $16.9 million in today's currency. 
 
Sales flourished through mail orders, Walker Parlors, and a network of dedicated salespeople travelling the nation, offering a range of products from Temple Grower to Vegetable Shampoo, Glossine, and even cosmetics introduced in 1918. 
 
Walker's legacy extended far beyond her hair treatments; it symbolised empowerment and entrepreneurship for generations to come. 
 
The innovation engine 
 
Madam Walker rode the wave of the burgeoning Black middle class in the early 20th century, tapping into a community with newfound optional income eager to invest in beauty and self-care. 
 
Yet, her approach outperformed mere initiative; it was steeped in foresight and modern strategies that set her apart. 
 
In 1911, Walker logically incorporated the Madam C.J. Walker Manufacturing Company, injecting $10,000 of her capital and securing sole ownership of 1,000 shares at $10 each. 
 
This strategic move not only shielded her enterprise under the protective veil of the law but also granted a legal legitimacy rarely accessible to African American entrepreneurs of her time. 
 
Her company's multifaceted approach to sales and distribution set new standards. From a flourishing mail-order business to meticulously curated salons and treatment centres, Walker's empire thrived. 
 
She invested in a vital sales force comprised of independent yet closely-knit agents, providing ample training through specialised schools and affiliations with Black colleges. 
 
But Walker's brilliance didn't stop there. She meticulously crafted her image, weaving her narrative of ascent "from the washtub to the boardroom" into every advertisement and press release. 
 
Her face became synonymous with quality and success, anchoring her products in authenticity and efficacy. 
 
More than a trader of beauty, Walker positioned herself as a beacon of hope in an era where opportunities for Black women were scarce. Her opulent lifestyle, showcased through grand mansions, sleek automobiles, and plush offices, served as a testament to her achievements. 
 
Yet, she balanced this flashiness with generous contributions to African American causes and institutions, cementing her status as a trailblazer and philanthropist. 
 
In a time when Black celebrities were rare, Walker understood the power of her narrative and diligently cultivated her public persona, ensuring that her legacy would endure beyond her lifetime. 
 
Laurels of achievement 
 
Madam Walker's legacy echoes through the halls of fame, with honours vested upon her long after her earthly journey: 
 
In 1992, she mounted the pedestal of the Global Business Hall of Fame, once known as the National Business Hall of Fame, housed within the esteemed Museum of Science and Industry in Chicago. 
 
A year later, the echoes of her achievements resounded within the hallowed halls of the National Women's Hall of Fame in Seneca Falls, New York, where her name found its eternal place among the illustrious. 
 
The American Health and Beauty Aids Institute in Chicago also glorified her in their esteemed Hall of Fame, a testament to her profound impact on the industry. 
 
Her likeness stands immortalised in the National Great Blacks in Wax Museum in Baltimore, a testament to her enduring influence and cultural significance. In 1998, her visage graced a U.S. postage stamp, forever etching her into the annals of American history. 
 
The Direct Selling Association bestowed upon her the esteemed Distinguished Service Award, recognising her unparalleled contributions to the world of commerce. 
 
The National Coalition of 100 Black Women's Oakland/Bay area chapter annually celebrates her spirit through the Madam C.J. Walker Luncheon and Empowerment Forum, honouring her invincible legacy with an award that bears her name. 
 
In 2007, her remarkable journey became the subject of a Harvard Business School case study, ensuring that her pioneering spirit and business sense would inspire generations to come. 
 
The bridge between abundance and impact 
 
As her company flourished, Madam Walker's wealth transcended mere financial bounds. She delved into investments spanning real estate, adorned herself with jewels steeped in history, and curated a collection of antiques and art, painting her life with opulence. At the twilight of her days, her estate gleamed with assets nearing $600,000, a testament to her shrewd insight, worth a staggering $17.07 million in today's currency. 
 
Yet, Madam Walker's heartbeat is not just for prosperity but for the betterment of her people. Her philanthropic zeal mirrored her ascent, resonating with the inspiring call to "help my race." In 1911, she seeded the ground for community growth with a $1,000 contribution towards pitching a Black branch of the YMCA in Indianapolis. 
 
By 1918, her generosity knew no bounds as she spearheaded the campaign to liberate Frederick Douglass's abode from the shackles of debt. Her pledge of $5,000 to the NAACP's anti-lynching crusade in 1919 reverberated across the land, a beacon of hope amidst the darkness of racial injustice. 
 
Each donation stood as a monolith of benevolence, the largest single offering of its time, a hallmark of Madam Walker's unbeatable spirit. In her embrace of education, she illuminated paths at the Tuskegee Institute, sponsoring the tuition of six eager minds. 
 
Her will, a testament to her enduring legacy, endowed two-thirds of her company's net proceeds to noble causes, a perpetual wellspring of compassion. With a forward gaze, she earmarked $10,000 for an African mission school, sowing seeds of enlightenment across distant shores. 
 
Madam Walker's life was not just a story of riches amassed but of hearts uplifted, of dreams nurtured, and of destinies reshaped. Her philanthropy, a symphony of generosity, echoes through the corridors of time, a testament to the enduring power of one woman's vision. 
 
Inner landscape 
 
In the records of entrepreneurial history, Madam Walker's daughter, Lelia (later known as A'Lelia), emerges as a figure of considerable influence. In the newborn days of the company, she stood shoulder to shoulder with her mother, orchestrating the complex dance of supply and mail-order operations, her graceful touch guiding the company's early strides. As one of its esteemed board members, she lent her wisdom to the helm, a testament to her vital role in shaping its trajectory. 
 
But it was Lelia's vision that set the stage for a new chapter in the company's saga. In 1913, she made the bold move to New York, beckoning her mother to establish a foothold just as Harlem burgeoned into a pulsating nexus of Black commerce and artistic expression. 
 
Following Madam Walker's passing in 1919, the veil of leadership fell upon Lelia's shoulders, as she ascended to the presidency of the company. Yet, her stewardship zigged towards the realm of cultural custom and social refinement, as she cast her aura over the swelling Harlem Renaissance. Renowned poet Langston Hughes bestowed upon her the famed title of the "Joy Goddess of Harlem," a testament to her magnetic presence amid the spirited swirl of artistic innovation. 
 
The question lingers: Was Madam Walker the foremost African American female millionaire? The answer remains hidden in the mists of history's opacity. 
 
While the Guinness Book of World Records heralds her as the inaugural self-made American woman millionaire, the corridors of time bear witness to other stars who reportedly scaled the dizzying heights of seven-figure fortunes. 
 
The tapestry of Walker's wealth is woven with threads of complexity. Despite the meticulous documentation, the true extent of her riches remains shrouded in uncertainty. Newspaper headlines of the era proclaimed her as a "millionairess," even as she opposed, grappling with the untouchable nature of wealth's quantification. 
 
When she departed this mortal loop in 1919, her assets and investments stood at a tough $600,000, with her company commanding annual revenues nearing $500,000. By conservative estimates, the breakup value of her company exceeded $1.2 million, casting her into the rarefied echelons of millionaire status. 
 
In the mosaic of her legacy, Madam Walker's journey stands as a testament to resilience, innovation, and the indomitable spirit of entrepreneurship—a beacon of inspiration for generations to come. 
 
How did the Madam C.J. Walker company embrace evolution on its remarkable journey? 
 
Madam C.J. Walker Manufacturing Company endured beyond the earthly departure of its visionary founder in 1919. Through the roaring twenties, it stood as a beacon of innovation and enterprise, weathering the tempests of economic upheaval with fortitude. 
 
As the spectre of the Great Depression cast its shadow, the company's resilience wavered, yet it clung to its existence, a testament to its enduring spirit. Though the factory gates closed in 1981, the indomitable legacy of Madam Walker persevered through the shifting sands of time. 
 
In a symbolic passing of the torch, the trademark found new custodians, breathing life into the hallowed halls of tradition. For three decades, they meticulously crafted the original formulas, keeping alive the essence of Madam Walker's vision. 
 
Then, in a transformative moment of rebirth, Sundial Brands emerged as the torchbearer of Madam C.J. Walker's legacy in 2013. With reverence and innovation, they unveiled a new chapter under the banner of Madam C.J. Walker Beauty Culture in 2016, a testament to the enduring allure of her name. 
 
Today, the MADAM by Madam C.J. Walker product line graces the shelves of Walmart, a testament to the timeless allure and enduring legacy of one woman's indomitable spirit.&nbsp; 
 
Through the ebb and flow of history, Madam Walker's vision continues to resonate, a beacon of empowerment and beauty for generations to come.

On this International women's day let's bring you a story from the late 19th century. Born into poverty, Madam C.J. Walker wasn't just one of the first Black millionaires, she was a self-made titan.

On this International women's day let's bring you a story from the late 19th century. Born into poverty, Madam C.J. Walker wasn't just one of the first Black millionaires, she was a self-made titan. Her secret weapon? Hair care. In just over a decade, her empire, aptly named after herself, blossomed, generating millions (equivalent to nearly $10 million today) by empowering Black women to embrace their unique beauty. But her legacy extends beyond the bottom line. As her wealth grew, so did her heart. Madam Walker became a beacon of philanthropy and a champion for Black rights, etching her name not just in business history, but in the fight for equality. Foundations of flourishing Born Sarah Breedlove in 1867, life wasn't kind. Orphaned young, she married at 14, but fate dealt another blow when her husband died, leaving her with a daughter to raise. Seeking a new start, Sarah embarked to St. Louis in 1889. This bustling city sparked an interest in hair care. While juggling laundry and cooking jobs, Sarah battled hair loss and sought help from a local Black entrepreneur, Anne Turnbo Pope. Under Pope's treatments, her scalp thrived, and soon Sarah found herself selling Pope's remedies, becoming a door-to-door advocate for healthy hair. By 1905, her journey took her to Denver, where she became a sales agent for Pope, ready to spread the gospel of good hair care across the Western frontier. Triumphs and milestones In 1906, Sarah embarked on a bold journey with her hair treatment. She claimed inspiration struck her in a dream, where a towering figure, described as "a big Black man," imparted wisdom about a miraculous "remedy from Africa." Yet, whispers suggest her concoctions might have been influenced by Pope-Turnbo's elixirs, possibly refined with the assistance of a pharmacist friend she met while moonlighting as a cook. Under a new name Mrs. C.J. Walker, following her marriage to Charles Joseph Walker, Sarah introduced her inaugural product, the renowned Madam C.J. Walker's Wonderful Hair Grower, blending coconut oil and sulfur into a potent conditioner, all for a mere $1.25 investment. The returns? A staggering $1,000 that year alone. Her success reached new heights as she expanded her product line, showcasing an entire regimen during an extensive sales tour across the South, tripling revenues in its wake. By 1908, she had established a school in Pittsburgh, training "hair culturists" in her methods. Indianapolis became her next destination in 1910, transforming into the epicentre of the Madam C.J. Walker Manufacturing Company, complete with a bustling factory. Branch offices, salons, and training schools grew across cities, with Walker herself journeying to the Caribbean and Central America by 1913 to expand her empire. The financial reports of the Walker Manufacturing Company, preserved at the Indiana Historical Society, paint a vivid picture of prosperity: - 1917: $175,937 - 1918: $275,937.88 - 1919: $486,762 - 1920: $595,353 To review, $595,353 in 1920 translates to an amazing $16.9 million in today's currency. Sales flourished through mail orders, Walker Parlors, and a network of dedicated salespeople travelling the nation, offering a range of products from Temple Grower to Vegetable Shampoo, Glossine, and even cosmetics introduced in 1918. Walker's legacy extended far beyond her hair treatments; it symbolised empowerment and entrepreneurship for generations to come. The innovation engine Madam Walker rode the wave of the burgeoning Black middle class in the early 20th century, tapping into a community with newfound optional income eager to invest in beauty and self-care. Yet, her approach outperformed mere initiative; it was steeped in foresight and modern strategies that set her apart. In 1911, Walker logically incorporated the Madam C.J. Walker Manufacturing Company, injecting $10,000 of her capital and securing sole ownership of 1,000 shares at $10 each. This strategic move not only shielded her enterprise under the protective veil of the law but also granted a legal legitimacy rarely accessible to African American entrepreneurs of her time. Her company's multifaceted approach to sales and distribution set new standards. From a flourishing mail-order business to meticulously curated salons and treatment centres, Walker's empire thrived. She invested in a vital sales force comprised of independent yet closely-knit agents, providing ample training through specialised schools and affiliations with Black colleges. But Walker's brilliance didn't stop there. She meticulously crafted her image, weaving her narrative of ascent "from the washtub to the boardroom" into every advertisement and press release. Her face became synonymous with quality and success, anchoring her products in authenticity and efficacy. More than a trader of beauty, Walker positioned herself as a beacon of hope in an era where opportunities for Black women were scarce. Her opulent lifestyle, showcased through grand mansions, sleek automobiles, and plush offices, served as a testament to her achievements. Yet, she balanced this flashiness with generous contributions to African American causes and institutions, cementing her status as a trailblazer and philanthropist. In a time when Black celebrities were rare, Walker understood the power of her narrative and diligently cultivated her public persona, ensuring that her legacy would endure beyond her lifetime. Laurels of achievement Madam Walker's legacy echoes through the halls of fame, with honours vested upon her long after her earthly journey: In 1992, she mounted the pedestal of the Global Business Hall of Fame, once known as the National Business Hall of Fame, housed within the esteemed Museum of Science and Industry in Chicago. A year later, the echoes of her achievements resounded within the hallowed halls of the National Women's Hall of Fame in Seneca Falls, New York, where her name found its eternal place among the illustrious. The American Health and Beauty Aids Institute in Chicago also glorified her in their esteemed Hall of Fame, a testament to her profound impact on the industry. Her likeness stands immortalised in the National Great Blacks in Wax Museum in Baltimore, a testament to her enduring influence and cultural significance. In 1998, her visage graced a U.S. postage stamp, forever etching her into the annals of American history. The Direct Selling Association bestowed upon her the esteemed Distinguished Service Award, recognising her unparalleled contributions to the world of commerce. The National Coalition of 100 Black Women's Oakland/Bay area chapter annually celebrates her spirit through the Madam C.J. Walker Luncheon and Empowerment Forum, honouring her invincible legacy with an award that bears her name. In 2007, her remarkable journey became the subject of a Harvard Business School case study, ensuring that her pioneering spirit and business sense would inspire generations to come. The bridge between abundance and impact As her company flourished, Madam Walker's wealth transcended mere financial bounds. She delved into investments spanning real estate, adorned herself with jewels steeped in history, and curated a collection of antiques and art, painting her life with opulence. At the twilight of her days, her estate gleamed with assets nearing $600,000, a testament to her shrewd insight, worth a staggering $17.07 million in today's currency. Yet, Madam Walker's heartbeat is not just for prosperity but for the betterment of her people. Her philanthropic zeal mirrored her ascent, resonating with the inspiring call to "help my race." In 1911, she seeded the ground for community growth with a $1,000 contribution towards pitching a Black branch of the YMCA in Indianapolis. By 1918, her generosity knew no bounds as she spearheaded the campaign to liberate Frederick Douglass's abode from the shackles of debt. Her pledge of $5,000 to the NAACP's anti-lynching crusade in 1919 reverberated across the land, a beacon of hope amidst the darkness of racial injustice. Each donation stood as a monolith of benevolence, the largest single offering of its time, a hallmark of Madam Walker's unbeatable spirit. In her embrace of education, she illuminated paths at the Tuskegee Institute, sponsoring the tuition of six eager minds. Her will, a testament to her enduring legacy, endowed two-thirds of her company's net proceeds to noble causes, a perpetual wellspring of compassion. With a forward gaze, she earmarked $10,000 for an African mission school, sowing seeds of enlightenment across distant shores. Madam Walker's life was not just a story of riches amassed but of hearts uplifted, of dreams nurtured, and of destinies reshaped. Her philanthropy, a symphony of generosity, echoes through the corridors of time, a testament to the enduring power of one woman's vision. Inner landscape In the records of entrepreneurial history, Madam Walker's daughter, Lelia (later known as A'Lelia), emerges as a figure of considerable influence. In the newborn days of the company, she stood shoulder to shoulder with her mother, orchestrating the complex dance of supply and mail-order operations, her graceful touch guiding the company's early strides. As one of its esteemed board members, she lent her wisdom to the helm, a testament to her vital role in shaping its trajectory. But it was Lelia's vision that set the stage for a new chapter in the company's saga. In 1913, she made the bold move to New York, beckoning her mother to establish a foothold just as Harlem burgeoned into a pulsating nexus of Black commerce and artistic expression. Following Madam Walker's passing in 1919, the veil of leadership fell upon Lelia's shoulders, as she ascended to the presidency of the company. Yet, her stewardship zigged towards the realm of cultural custom and social refinement, as she cast her aura over the swelling Harlem Renaissance. Renowned poet Langston Hughes bestowed upon her the famed title of the "Joy Goddess of Harlem," a testament to her magnetic presence amid the spirited swirl of artistic innovation. The question lingers: Was Madam Walker the foremost African American female millionaire? The answer remains hidden in the mists of history's opacity. While the Guinness Book of World Records heralds her as the inaugural self-made American woman millionaire, the corridors of time bear witness to other stars who reportedly scaled the dizzying heights of seven-figure fortunes. The tapestry of Walker's wealth is woven with threads of complexity. Despite the meticulous documentation, the true extent of her riches remains shrouded in uncertainty. Newspaper headlines of the era proclaimed her as a "millionairess," even as she opposed, grappling with the untouchable nature of wealth's quantification. When she departed this mortal loop in 1919, her assets and investments stood at a tough $600,000, with her company commanding annual revenues nearing $500,000. By conservative estimates, the breakup value of her company exceeded $1.2 million, casting her into the rarefied echelons of millionaire status. In the mosaic of her legacy, Madam Walker's journey stands as a testament to resilience, innovation, and the indomitable spirit of entrepreneurship—a beacon of inspiration for generations to come. How did the Madam C.J. Walker company embrace evolution on its remarkable journey? Madam C.J. Walker Manufacturing Company endured beyond the earthly departure of its visionary founder in 1919. Through the roaring twenties, it stood as a beacon of innovation and enterprise, weathering the tempests of economic upheaval with fortitude. As the spectre of the Great Depression cast its shadow, the company's resilience wavered, yet it clung to its existence, a testament to its enduring spirit. Though the factory gates closed in 1981, the indomitable legacy of Madam Walker persevered through the shifting sands of time. In a symbolic passing of the torch, the trademark found new custodians, breathing life into the hallowed halls of tradition. For three decades, they meticulously crafted the original formulas, keeping alive the essence of Madam Walker's vision. Then, in a transformative moment of rebirth, Sundial Brands emerged as the torchbearer of Madam C.J. Walker's legacy in 2013. With reverence and innovation, they unveiled a new chapter under the banner of Madam C.J. Walker Beauty Culture in 2016, a testament to the enduring allure of her name. Today, the MADAM by Madam C.J. Walker product line graces the shelves of Walmart, a testament to the timeless allure and enduring legacy of one woman's indomitable spirit. Through the ebb and flow of history, Madam Walker's vision continues to resonate, a beacon of empowerment and beauty for generations to come.

Flashback Friday | Madam CJ Walker: From cotton fields to hair care queen

Faced with a struggling domestic Market, Chinese investors are rushing to put their money overseas, pushing sales of offshore funds to record highs the flight of capital is putting pressure on Beijing's efforts to stabilize the Yuan and revive domestic markets. Watch to know more!

China's domestic market in turmoil as investors flock overseas

The chat GPT maker has said that Musk wanted a merger with Tesla, the co-founders have also dismissed Musk's claims that OpenAI moved away from its original goals. Billionaire entrepreneur Elon Musk has sued ChatGPT-maker OpenAI and its CEO, Sam Altman. Musk argues that the company has abandoned its original mission to develop artificial intelligence for the benefit of humanity.

OpenAI denies Elon Musk's claims of moving away from original goal

Uncertainty about the US Federal Reserve's rate path and mounting international geopolitical tensions drove gold's price to a new record high on Tuesday.

Gold climbs to record even as momentum builds on rate-cut bets

Tesla's shares experienced a drop of more than 7 per cent on Monday following reports of a decline in sales in China for February.

The dip in sales in its key market has cast a shadow on the outlook for Tesla's global deliveries, especially amid mounting challenges such as diminishing demand and heightened competition.

The Lunar New Year holidays in China likely contributed to the slowdown in sales during February, affecting car purchasing activities in the region.

Tesla's sales in China, a crucial market for the EV giant, witnessed a decline in February, with sales of China-made vehicles dropping by 19 per cent compared to the same period last year.

Data from the China Passenger Car Association revealed that Tesla sold 60,365 vehicles during the month, marking the lowest volume since December 2022.

The Tesla Shanghai factory, which manufactures Model Y and Model 3 electric cars for the local market, Europe, and other countries, accounted for over half of Tesla's global deliveries last year.

The slump in Tesla's China sales has raised concerns among investors and analysts, particularly regarding the company's ability to sustain its global delivery momentum.

Wedbush analyst Dan Ives described the situation as a "perfect storm of headwinds" for Tesla in China, highlighting the negative impact on the company's stock performance.

In response to the challenging market conditions, Tesla has implemented several measures, including price cuts and incentives, to stimulate demand and fend off competition from Chinese rivals like BYD.

Tesla unveiled more incentives this week, including as insurance reimbursements, to draw customers in the biggest car market globally.

However, the competitive landscape in China has intensified, with BYD launching a new version of its best-selling car at a price lower than its predecessor.

This move has escalated a price war among EV manufacturers, further complicating Tesla's efforts to regain momentum in the region. BYD also reported a significant decline in sales, down 37 per cent from the previous year.

In the United States, Tesla has introduced various incentives to stimulate sales, including offering 5,000 free Supercharging miles to customers who trade in their older vehicles for a new Tesla vehicle by March 31.

Additionally, Tesla temporarily reduced prices for some of its Model Y cars in February.

Analyst Troy Teslike revised his forecast for Tesla's global deliveries for the first quarter of this year, citing weaker-than-expected sales in China despite price cuts as indicative of "a demand problem."

Tesla had previously warned of "notably lower" sales growth for the year ahead as it focuses on ramping up production of its cheaper electric vehicles.

Elon Musk: No longer the world's richest person

Meanwhile, Elon Musk, the CEO of Tesla, has renounced his title as the richest person in the world.

According to a Forbes report, he is now surpassed by Bernard Arnault, the chairman and CEO of LVMH.

Tesla's shares declined approximately 6.3 per cent on Monday, contributing to a significant drop in value this year, largely attributed to the aftermath of Musk's $44 billion acquisition of Twitter.

Musk's wealth, primarily tied to Tesla stock, soared during the carmaker's ascent, witnessing a surge of over 1,000 per cent in just two years.

Arnault, who holds over 60 per cent of LVMH's voting share class through various holding vehicles and family trusts, is estimated to be worth $186.2 billion by Forbes.

Meanwhile, Musk's fortune is closely linked to his Tesla shares, where he owns around 14.11 per cent of the outstanding shares, with a market value of $530 billion.

Additionally, Musk's ownership of more than 40 per cent of SpaceX shares further contributes to his net worth, boosted by the company's estimated valuation of $125 billion as of June 2022.

Despite a challenging year for stocks, LVMH shares have only experienced a modest decline of 1.5 per cent in 2022.

The luxury conglomerate, headquartered in Paris and listed on Euronext Paris, continues to demonstrate resilience amidst market volatility.

The shift in rankings, reflecting Arnault's ascent to the top of the wealth index, has been acknowledged by both Forbes and the Bloomberg Billionaires Index, although the latter uses slightly different methodologies for its assessments.

(With inputs from agencies)

Tesla's shares experienced a drop of more than 7 per cent on Monday following reports of a decline in sales in China for February. The dip in sales in its key market has cast a shadow on the outlook for Tesla's global deliveries, especially amid mounting challenges such as diminishing demand and heightened competition.

Tesla's shares experienced a drop of more than 7 per cent on Monday following reports of a decline in sales in China for February. The dip in sales in its key market has cast a shadow on the outlook for Tesla's global deliveries, especially amid mounting challenges such as diminishing demand and heightened competition. The Lunar New Year holidays in China likely contributed to the slowdown in sales during February, affecting car purchasing activities in the region. Tesla's sales in China, a crucial market for the EV giant, witnessed a decline in February, with sales of China-made vehicles dropping by 19 per cent compared to the same period last year. Data from the China Passenger Car Association revealed that Tesla sold 60,365 vehicles during the month, marking the lowest volume since December 2022. The Tesla Shanghai factory, which manufactures Model Y and Model 3 electric cars for the local market, Europe, and other countries, accounted for over half of Tesla's global deliveries last year. The slump in Tesla's China sales has raised concerns among investors and analysts, particularly regarding the company's ability to sustain its global delivery momentum. Wedbush analyst Dan Ives described the situation as a "perfect storm of headwinds" for Tesla in China, highlighting the negative impact on the company's stock performance. In response to the challenging market conditions, Tesla has implemented several measures, including price cuts and incentives, to stimulate demand and fend off competition from Chinese rivals like BYD. Tesla unveiled more incentives this week, including as insurance reimbursements, to draw customers in the biggest car market globally. However, the competitive landscape in China has intensified, with BYD launching a new version of its best-selling car at a price lower than its predecessor. This move has escalated a price war among EV manufacturers, further complicating Tesla's efforts to regain momentum in the region. BYD also reported a significant decline in sales, down 37 per cent from the previous year. In the United States, Tesla has introduced various incentives to stimulate sales, including offering 5,000 free Supercharging miles to customers who trade in their older vehicles for a new Tesla vehicle by March 31. Additionally, Tesla temporarily reduced prices for some of its Model Y cars in February. Analyst Troy Teslike revised his forecast for Tesla's global deliveries for the first quarter of this year, citing weaker-than-expected sales in China despite price cuts as indicative of "a demand problem." Tesla had previously warned of "notably lower" sales growth for the year ahead as it focuses on ramping up production of its cheaper electric vehicles. Elon Musk: No longer the world's richest person Meanwhile, Elon Musk, the CEO of Tesla, has renounced his title as the richest person in the world. According to a Forbes report, he is now surpassed by Bernard Arnault, the chairman and CEO of LVMH. Tesla's shares declined approximately 6.3 per cent on Monday, contributing to a significant drop in value this year, largely attributed to the aftermath of Musk's $44 billion acquisition of Twitter. Musk's wealth, primarily tied to Tesla stock, soared during the carmaker's ascent, witnessing a surge of over 1,000 per cent in just two years. Arnault, who holds over 60 per cent of LVMH's voting share class through various holding vehicles and family trusts, is estimated to be worth $186.2 billion by Forbes. Meanwhile, Musk's fortune is closely linked to his Tesla shares, where he owns around 14.11 per cent of the outstanding shares, with a market value of $530 billion. Additionally, Musk's ownership of more than 40 per cent of SpaceX shares further contributes to his net worth, boosted by the company's estimated valuation of $125 billion as of June 2022. Despite a challenging year for stocks, LVMH shares have only experienced a modest decline of 1.5 per cent in 2022. The luxury conglomerate, headquartered in Paris and listed on Euronext Paris, continues to demonstrate resilience amidst market volatility. The shift in rankings, reflecting Arnault's ascent to the top of the wealth index, has been acknowledged by both Forbes and the Bloomberg Billionaires Index, although the latter uses slightly different methodologies for its assessments. (With inputs from agencies)

Tesla shares plunge over 7 per cent as China sales decline: Report

Advanced Micro Devices has encountered a challenge in its efforts to offer an artificial intelligence chip specifically designed for the Chinese market,&nbsp;Bloomberg News reported.

The move comes amidst Washington's intensified scrutiny and crackdown on the export of advanced technologies to China.

According to sources familiar with the matter, AMD sought approval from the US Commerce Department to sell the AI processor to China, which was specifically designed to comply with US export restrictions.

However, the chip's performance, albeit lower compared to versions sold outside of China, has been deemed by US officials as still too powerful.

Consequently, the company has been instructed to obtain a license from the Commerce Department's Bureau of Industry and Security to proceed with the sale in China.

The AI chip developed by AMD, although tailored for the Chinese market and designed to meet US export regulations, has encountered regulatory hurdles due to concerns over its capabilities.

Despite efforts to ensure compliance, US officials maintain that the processor requires further scrutiny and control to prevent its potential misuse or diversion for military purposes.

Neither AMD nor the Commerce Department immediately responded to requests for comment from Reuters.

This development follows broader measures taken by the US government to curb the flow of advanced technologies to China, particularly those with potential military applications.

In October, the US announced plans to halt shipments of more advanced artificial intelligence chips, including those designed by Nvidia, as part of efforts to prevent Beijing from acquiring cutting-edge US technologies that could bolster its military capabilities.

(With inputs from agencies)

Advanced Micro Devices has encountered a challenge in its efforts to offer an artificial intelligence chip specifically designed for the Chinese market, Bloomberg News reported.

Advanced Micro Devices has encountered a challenge in its efforts to offer an artificial intelligence chip specifically designed for the Chinese market, Bloomberg News reported. The move comes amidst Washington's intensified scrutiny and crackdown on the export of advanced technologies to China. According to sources familiar with the matter, AMD sought approval from the US Commerce Department to sell the AI processor to China, which was specifically designed to comply with US export restrictions. However, the chip's performance, albeit lower compared to versions sold outside of China, has been deemed by US officials as still too powerful. Consequently, the company has been instructed to obtain a license from the Commerce Department's Bureau of Industry and Security to proceed with the sale in China. The AI chip developed by AMD, although tailored for the Chinese market and designed to meet US export regulations, has encountered regulatory hurdles due to concerns over its capabilities. Despite efforts to ensure compliance, US officials maintain that the processor requires further scrutiny and control to prevent its potential misuse or diversion for military purposes. Neither AMD nor the Commerce Department immediately responded to requests for comment from Reuters. This development follows broader measures taken by the US government to curb the flow of advanced technologies to China, particularly those with potential military applications. In October, the US announced plans to halt shipments of more advanced artificial intelligence chips, including those designed by Nvidia, as part of efforts to prevent Beijing from acquiring cutting-edge US technologies that could bolster its military capabilities. (With inputs from agencies)

AMD faces setback as US Government blocks sale of AI chip to China

Toyota, the Japanese automaker, is confident to announce an investment of $2.2 billion in Brazil over the next few years, according to statements made by Brazil's vice-president. 
 
This substantial investment puts a spotlight on Toyota's commitment to boosts its presence in the South American country. 
 
The announcement is expected to be made at an event hosted at Toyota's factory in Sorocaba, Sao Paulo state. 
 
Geraldo Alckmin, Brazil's vice-president and minister for industry, revealed on social media that the investments are anticipated to create around 2,000 job opportunities while also facilitating the launch of new vehicle models. 
 
While Toyota has refrained from commenting on the specifics of its future plans, the statement comes following local media reports highlighting the impending investments. 
 
According to reports from O Globo's columnist Lauro Jardim, Toyota is set to manufacture a hybrid car and a sport utility vehicle (SUV) at its Sorocaba unit as part of the planned investment. 
 
Toyota's forthcoming investment in Brazil follows a series of similar announcements from other global automakers, including Volkswagen, General Motors, and Hyundai Motor. 
 
(With inputs from Reuters)

Toyota, the Japanese automaker, is confident to announce an investment of $2.2 billion in Brazil over the next few years, according to statements made by Brazil's vice-president.

Toyota, the Japanese automaker, is confident to announce an investment of $2.2 billion in Brazil over the next few years, according to statements made by Brazil's vice-president. This substantial investment puts a spotlight on Toyota's commitment to boosts its presence in the South American country. The announcement is expected to be made at an event hosted at Toyota's factory in Sorocaba, Sao Paulo state. Geraldo Alckmin, Brazil's vice-president and minister for industry, revealed on social media that the investments are anticipated to create around 2,000 job opportunities while also facilitating the launch of new vehicle models. While Toyota has refrained from commenting on the specifics of its future plans, the statement comes following local media reports highlighting the impending investments. According to reports from O Globo's columnist Lauro Jardim, Toyota is set to manufacture a hybrid car and a sport utility vehicle (SUV) at its Sorocaba unit as part of the planned investment. Toyota's forthcoming investment in Brazil follows a series of similar announcements from other global automakers, including Volkswagen, General Motors, and Hyundai Motor. (With inputs from Reuters)

Toyota set to invest $2.2 billion in Brazil, unveil new vehicle models

Banco Santander SA, a prominent Spanish banking entity, has implemented workforce reductions in the United States, cutting approximately 320 jobs as part of its strategic shift towards digital operations, as reported by Bloomberg News. 
 
The layoffs, constituting about 2.7 per cent of the bank's US workforce of around 11,800 employees, are primarily concentrated within the bank's retail operations. 
 
While Banco Santander has yet to respond to requests for comment from Reuters, the reported layoffs puts a spotlight on the institution's efforts to realign its business priorities in response to evolving customer demands and technological advancements. 
 
In a statement provided to Bloomberg News, Banco Santander said it was modernising its US operations by investing in digital capabilities and streamlining processes to better serve its clientele. 
 
By focusing on digital transformation initiatives, Banco Santander aims to remain agile and competitive amid the evolving financial landscape. 
 
Earlier announcements from the bank have showed its intent to expand digital services beyond the US market, with plans to launch a digital bank service in Mexico, as disclosed by Santander Mexico's head of digital and innovation, Matias Nunez, in January. 
 
(With inputs from Reuters)

Banco Santander SA, a prominent Spanish banking entity, has implemented workforce reductions in the United States, cutting approximately 320 jobs as part of its strategic shift towards digital operations, as reported by Bloomberg News.

Banco Santander SA, a prominent Spanish banking entity, has implemented workforce reductions in the United States, cutting approximately 320 jobs as part of its strategic shift towards digital operations, as reported by Bloomberg News. The layoffs, constituting about 2.7 per cent of the bank's US workforce of around 11,800 employees, are primarily concentrated within the bank's retail operations. While Banco Santander has yet to respond to requests for comment from Reuters, the reported layoffs puts a spotlight on the institution's efforts to realign its business priorities in response to evolving customer demands and technological advancements. In a statement provided to Bloomberg News, Banco Santander said it was modernising its US operations by investing in digital capabilities and streamlining processes to better serve its clientele. By focusing on digital transformation initiatives, Banco Santander aims to remain agile and competitive amid the evolving financial landscape. Earlier announcements from the bank have showed its intent to expand digital services beyond the US market, with plans to launch a digital bank service in Mexico, as disclosed by Santander Mexico's head of digital and innovation, Matias Nunez, in January. (With inputs from Reuters)

Banco Santander announces job cuts in US amid digitalisation drive

In the latest development surrounding China Evergrande Group's financial turmoil, a second mansion once owned by the company's chairman, Hui Ka Yan, has been listed for sale by receivers, as reported by property agent Savills.

Evergrande, renowned as the world's most indebted property developer, encountered a default on its offshore debt towards the end of 2021.

Subsequently, in January, a Hong Kong court ordered the liquidation of Evergrande, although it's noteworthy that the personal assets of Chairman Hui Ka Yan are anticipated to remain separate from the liquidation process.

The mansion in question is located within the prestigious residential enclave on the Peak in Hong Kong, an area synonymous with luxury living.

This particular property joins the ranks of two other mansions owned by Hui Ka Yan within the same development. One of these mansions was already put on the market by receivers a year prior, while the other was seized by Hui's creditor in late 2021.

The latter development was reported by local media outlet HK01 in November.

According to Savills, the latest mansion to hit the market is valued at $63.9 million, as per reports from HK01.

The property, spanning across three floors, offers breathtaking views of the city's iconic skyline. It boasts a spacious 4,933 square feet of saleable area, complete with a private garden and an internal elevator, epitomising the epitome of opulent living.

This particular mansion had been pledged to Orix Asia Capital Ltd back in November 2021, although the exact amount remains undisclosed as per the Land Registry records.

As the saga unfolds, it's evident that Evergrande's assets in Hong Kong have either been seized or liquidated following the company's default on its staggering debt towards the end of 2021.

In light of these events, the fate of Evergrande's assets, particularly those owned by Chairman Hui Ka Yan, remains under scrutiny.

As the process of liquidation unfolds, stakeholders and observers keenly watch the developments within one of the most significant corporate crises in recent memory.

(With inputs from Reuters)

In the latest development surrounding China Evergrande Group's financial turmoil, a second mansion once owned by the company's chairman, Hui Ka Yan, has been listed for sale by receivers, as reported by property agent Savills.

In the latest development surrounding China Evergrande Group's financial turmoil, a second mansion once owned by the company's chairman, Hui Ka Yan, has been listed for sale by receivers, as reported by property agent Savills. Evergrande, renowned as the world's most indebted property developer, encountered a default on its offshore debt towards the end of 2021. Subsequently, in January, a Hong Kong court ordered the liquidation of Evergrande, although it's noteworthy that the personal assets of Chairman Hui Ka Yan are anticipated to remain separate from the liquidation process. The mansion in question is located within the prestigious residential enclave on the Peak in Hong Kong, an area synonymous with luxury living. This particular property joins the ranks of two other mansions owned by Hui Ka Yan within the same development. One of these mansions was already put on the market by receivers a year prior, while the other was seized by Hui's creditor in late 2021. The latter development was reported by local media outlet HK01 in November. According to Savills, the latest mansion to hit the market is valued at $63.9 million, as per reports from HK01. The property, spanning across three floors, offers breathtaking views of the city's iconic skyline. It boasts a spacious 4,933 square feet of saleable area, complete with a private garden and an internal elevator, epitomising the epitome of opulent living. This particular mansion had been pledged to Orix Asia Capital Ltd back in November 2021, although the exact amount remains undisclosed as per the Land Registry records. As the saga unfolds, it's evident that Evergrande's assets in Hong Kong have either been seized or liquidated following the company's default on its staggering debt towards the end of 2021. In light of these events, the fate of Evergrande's assets, particularly those owned by Chairman Hui Ka Yan, remains under scrutiny. As the process of liquidation unfolds, stakeholders and observers keenly watch the developments within one of the most significant corporate crises in recent memory. (With inputs from Reuters)

Second mansion of Evergrande chairman hits market amid liquidation

Japan's January factory output fell at the fastest pace since May 2020. The reason: a downturn in automobile production added to the fall in output. Industrial output fell 7.5% in January from the previous month, slightly worse than the market forecast for a 7.3% drop. This is not good news for the Japanese economy, which slipped into recession late last year.

Factory output falls at fastest pace since May 2020 in January

The robotic solution, called Homosep Atom, has already been deployed by civic bodies in 16 cities including Chennai, Madurai and Coimbatore where it replaces manual cleaning methods with robotic cleaning methods, using extensive blade cleanings, solid waste desilting, suction and storage by a single device.

India's ﬁrst septic tank cleaning robot strengthening Swatch Bharat campaign

India is making a major play to enter the global chip race. The government is considering proposals worth $21 billion from companies like tower semiconductor and tata group to set up semiconductor plants in the country. This move aims to reduce reliance on chip imports and establish India as a chip manufacturing hub. Watch to know more!

$21 billion in proposals aim to make India a chip manufacturing hub

As concerns about potential shortages in supply continue to grow, the price of cocoa rose to new all-time highs in New York. Monday saw futures reach a new high, climbing 4.6%. This comes after last week when cocoa prices marked the biggest weekly gain since 1999. Watch to know more!

Persistent supply fears push Cocoa to new record high

According to a new survey, poverty in India has significantly declined, with estimates suggesting it may be below 5%. The survey also reveals a notable rise in consumption across the country, along with a shift in spending patterns. Watch to know more!

Niti Aayog CEO claims poverty in India is below 5%

Medical debt in the united states has reached alarming levels, with an estimated 20 million adults owing roughly $220 billion. This translates to 1 in 10 adults struggling with medical bills exceeding $1,000, highlighting the widespread prevalence of this issue. Watch to know more!

US: 1 in 10 adults owes over $1,000 in medical debt in the United States

Chipmaker Broadcom is on the brink of finalising a $3.8 billion agreement to offload its end-user computing (EUC) business to private equity giant KKR, according to sources familiar with the matter.

This move marks a strategic decision by Broadcom CEO Hock Tan to streamline the company's portfolio following its massive $69 billion acquisition of software firm VMware in November. The transaction signals Broadcom's commitment to optimising its business focus in line with evolving market demands.

KKR emerged victorious in the competitive bidding process for Broadcom's EUC unit, outbidding other prominent private equity players, including EQT, sources revealed.

The deal, anticipated to be formally announced as early as Monday, is shrouded in confidentiality, with sources requesting anonymity due to the sensitive nature of the discussions.

While KKR declined to comment on the matter, neither Broadcom nor EQT responded immediately to requests for comment.

Broadcom had previously flags its intention to divest its end-user computing division in December as part of its strategic realignment efforts.

Concurrently, the company is also actively exploring options to divest VMware's security software business, Carbon Black.

The near sale of the EUC unit stresses Broadcom's strategic agility in reshaping its business landscape to enhance competitiveness and drive sustainable growth in core areas.

KKR's involvement in the acquisition aligns with its track record of strategic dealmaking within the technology sector.

Notably, the private equity firm executed the acquisition of US, in 2018, business software provider BMC was bought for $8.5 billion. Subsequently, KKR orchestrated the merger of BMC with Compuware, a company it acquired from buyout firm Thoma Bravo, two years later.

Additionally, in 2021, KKR bolstered its technology portfolio by acquiring information services technology provider Ensono for approximately $1.7 billion.

The transaction is being facilitated by prominent financial advisory firms, with Evercore, Deutsche Bank, and Jefferies advising KKR on the deal, while Citigroup is providing advisory services to Broadcom, as per insider sources.

(With inputs from Reuters)

Chipmaker Broadcom is on the brink of finalising a $3.8 billion agreement to offload its end-user computing (EUC) business to private equity giant KKR, according to sources familiar with the matter.

Chipmaker Broadcom is on the brink of finalising a $3.8 billion agreement to offload its end-user computing (EUC) business to private equity giant KKR, according to sources familiar with the matter. This move marks a strategic decision by Broadcom CEO Hock Tan to streamline the company's portfolio following its massive $69 billion acquisition of software firm VMware in November. The transaction signals Broadcom's commitment to optimising its business focus in line with evolving market demands. KKR emerged victorious in the competitive bidding process for Broadcom's EUC unit, outbidding other prominent private equity players, including EQT, sources revealed. The deal, anticipated to be formally announced as early as Monday, is shrouded in confidentiality, with sources requesting anonymity due to the sensitive nature of the discussions. While KKR declined to comment on the matter, neither Broadcom nor EQT responded immediately to requests for comment. Broadcom had previously flags its intention to divest its end-user computing division in December as part of its strategic realignment efforts. Concurrently, the company is also actively exploring options to divest VMware's security software business, Carbon Black. The near sale of the EUC unit stresses Broadcom's strategic agility in reshaping its business landscape to enhance competitiveness and drive sustainable growth in core areas. KKR's involvement in the acquisition aligns with its track record of strategic dealmaking within the technology sector. Notably, the private equity firm executed the acquisition of US, in 2018, business software provider BMC was bought for $8.5 billion. Subsequently, KKR orchestrated the merger of BMC with Compuware, a company it acquired from buyout firm Thoma Bravo, two years later. Additionally, in 2021, KKR bolstered its technology portfolio by acquiring information services technology provider Ensono for approximately $1.7 billion. The transaction is being facilitated by prominent financial advisory firms, with Evercore, Deutsche Bank, and Jefferies advising KKR on the deal, while Citigroup is providing advisory services to Broadcom, as per insider sources. (With inputs from Reuters)

Broadcom nears $3.8 billion deal to sell end-user computing business to KKR

In a win that could bolster its international standing, the United Arab Emirates has been dropped from a global watchdog's list of countries at risk of illicit money flows.

Global watchdog drops UAE from key list

In the forthcoming week, global markets are poised for a moment of reflection as they await crucial economic data releases, primarily from the United States.

Risks & opportunities in markets this week

Investor summits are increasingly becoming the preferred platform for Indian states to attract foreign investments. These summits are also emerging as a platform for states to become an active stakeholder in economic diplomacy.

Investor summit and India's economic diplomacy

States' role in economic diplomacy

Bereft of funds, the Finance Ministry wants Oil &amp; Natural Gas Corp (ONGC) and Oil India Ltd (OIL) to initially spend the Rs 3,200 crores ($390mn)&nbsp;required for drilling wells to find oil and natural gas in the high seas.

“ONGC and OIL will take up this work on behalf of the Ministry of Petroleum &amp; Natural Gas and the cost for drilling of these wells would be initially borne by ONGC and OIL,” says the Expenditure Finance Committee (EFC) order.

The Petroleum Ministry had sought budgetary support to drill four stratigraphic wells in Category II and Category III basins in India’s offshore region to obtain critical data for a robust modelling of petroleum reserves. Usually, the Directorate General of Hydrocarbons conducts such searches through budgetary support.

Though the Expenditure Department had approved the ministry’s hydrocarbon hunt, the EFC – headed by Finance Secretary -- decided that ONGC and OIL bear the expedition cost and their losses, if any, in this venture be reimbursed through gross budgetary support.

<a href="https://www.wionews.com/india-news/india-starts-oil-production-from-delayed-5-billion-deep-water-project-in-krishna-godavari-basin-677894">Also read |&nbsp;India starts oil extraction from $5 billion deep-water project in Krishna Godavari basin</a>

The onus of initial spending was shifted onto ONGC and OIL as the EFC said that fiscal constraint was a major issue and that the “fiscal situation had changed post presentation in the Budget”.

Officials said that subsequent to the budget announcement, there has been substantial increase in the expenditure on the revenue side which was not envisioned in the budget. As a result, there was not much fiscal space available.

The EFC has therefore ordained that “ONGC and OIL will take up this work on behalf of government. They will engage international expertise for the determination of well location. The cost&nbsp;incurred for drilling these wells would be borne by ONGC and OIL”.

“In case a discovery is made, the drilling cost would be recovered from successful bidders. However, when no discovery is made (in case of dry well), 90 percent of the estimated cost of Rs 3,200 Crores or the actuals, whichever is lower, will be borne by the government through gross budgetary support,” it said.

What that means is that if a discovery is made, 150 per cent of the drilling cost of the discovered well shall be recovered from the successful bidder whenever the block is awarded through the Open Acreage Licensing Policy regime.

In case no discovery is made, or the well is found dry, data from the well would be differentially priced so that at least 10 per cent of the cost is recovered from the purchasers of the well data from the National Data Repository.

For calculating the unrecovered expenditure on the drilling, the total cost of all four wells and the total recovery from all four wells shall be considered and the shortfall will be treated as “unrecovered actual expenditure”.

This expenditure will be reviewed by a committee under the chairmanship of Petroleum Secretary along with officials of NITI Aayog and Office of Chief Advisor Cost, and it will work out the amount to be reimbursed to the two national oil companies.

The committee will submit its recommendation to the Petroleum Minister who would approach the Budget Division in the Department of Economic Affairs for budgetary support.

Also watch |&nbsp;PM Modi in Goa: Key projects to be unveiled

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India’s&nbsp;primary objective of drilling these wells is to gather stratigraphic information of the basin and to understand the depth of play systems so that private operators are encouraged to take up exploration and production in them.

Stratigraphy is&nbsp;a branch of geology concerned with the study of rock layers (strata) and layering (stratification). It is primarily used in the study of sedimentary and layered volcanic rocks. It is used for preparing property maps to get a possible regional trend which can give the components of depositional environment.

&nbsp;

Bereft of funds, the Finance Ministry wants Oil & Natural Gas Corp (ONGC) and Oil India Ltd (OIL) to initially spend the Rs 3,200 crores ($390mn) required for drilling wells to find oil and natural gas in the high seas.

Bereft of funds, the Finance Ministry wants Oil & Natural Gas Corp (ONGC) and Oil India Ltd (OIL) to initially spend the Rs 3,200 crores ($390mn) required for drilling wells to find oil and natural gas in the high seas. “ONGC and OIL will take up this work on behalf of the Ministry of Petroleum & Natural Gas and the cost for drilling of these wells would be initially borne by ONGC and OIL,” says the Expenditure Finance Committee (EFC) order. The Petroleum Ministry had sought budgetary support to drill four stratigraphic wells in Category II and Category III basins in India’s offshore region to obtain critical data for a robust modelling of petroleum reserves. Usually, the Directorate General of Hydrocarbons conducts such searches through budgetary support. Though the Expenditure Department had approved the ministry’s hydrocarbon hunt, the EFC – headed by Finance Secretary -- decided that ONGC and OIL bear the expedition cost and their losses, if any, in this venture be reimbursed through gross budgetary support. Also read | India starts oil extraction from $5 billion deep-water project in Krishna Godavari basin The onus of initial spending was shifted onto ONGC and OIL as the EFC said that fiscal constraint was a major issue and that the “fiscal situation had changed post presentation in the Budget”. Officials said that subsequent to the budget announcement, there has been substantial increase in the expenditure on the revenue side which was not envisioned in the budget. As a result, there was not much fiscal space available. The EFC has therefore ordained that “ONGC and OIL will take up this work on behalf of government. They will engage international expertise for the determination of well location. The cost incurred for drilling these wells would be borne by ONGC and OIL”. “In case a discovery is made, the drilling cost would be recovered from successful bidders. However, when no discovery is made (in case of dry well), 90 percent of the estimated cost of Rs 3,200 Crores or the actuals, whichever is lower, will be borne by the government through gross budgetary support,” it said. What that means is that if a discovery is made, 150 per cent of the drilling cost of the discovered well shall be recovered from the successful bidder whenever the block is awarded through the Open Acreage Licensing Policy regime. In case no discovery is made, or the well is found dry, data from the well would be differentially priced so that at least 10 per cent of the cost is recovered from the purchasers of the well data from the National Data Repository. For calculating the unrecovered expenditure on the drilling, the total cost of all four wells and the total recovery from all four wells shall be considered and the shortfall will be treated as “unrecovered actual expenditure”. This expenditure will be reviewed by a committee under the chairmanship of Petroleum Secretary along with officials of NITI Aayog and Office of Chief Advisor Cost, and it will work out the amount to be reimbursed to the two national oil companies. The committee will submit its recommendation to the Petroleum Minister who would approach the Budget Division in the Department of Economic Affairs for budgetary support. Also watch | PM Modi in Goa: Key projects to be unveiled India’s primary objective of drilling these wells is to gather stratigraphic information of the basin and to understand the depth of play systems so that private operators are encouraged to take up exploration and production in them. Stratigraphy is a branch of geology concerned with the study of rock layers (strata) and layering (stratification). It is primarily used in the study of sedimentary and layered volcanic rocks. It is used for preparing property maps to get a possible regional trend which can give the components of depositional environment.

Exclusive: FinMin asks ONGC, OIL to fund India’s hydrocarbon hunt; promises to reimburse losses

<o:p></o:p>

Australian conglomerate Seven Group Holdings has made a substantial bid of $1.24 billion to acquire full control of Boral, a leading building products group, signalling a confident wager on the sustained growth of Australia's infrastructure sector.<o:p></o:p>

Led by billionaire Kerry Stokes and his family, Seven Group already commands nearly 72 per cent ownership of Boral. The offer, unveiled on Monday, aims to secure the remaining shares of the company. The proposed bid, valued at a minimum of approximately $4 per Boral share, comprises 0.1116 Seven Group shares and $0.98 in cash.<o:p></o:p>

If successful, the deal would value Boral at $4.35 billion, representing a 3.4 per cent premium over its recent closing price. Seven Group's proposal surpasses any closing price Boral has seen since 2007, underscoring the seriousness of the bid.<o:p></o:p>

Boral has strategically reshaped its operations over the past two years, focusing on bolstering its Australian building and industrial products segment to capitalise on the government's heightened infrastructure spending initiatives.<o:p></o:p>

The company divested several international assets, redirecting its attention to domestic opportunities. This shift in strategy aligns with the broader trend of governments ramping up infrastructure investments. Boral's proactive measures have positioned it to benefit from this trend, making it an attractive target for acquisition.<o:p></o:p>

Despite the enticing offer, Boral has advised its shareholders to refrain from immediate action regarding the takeover bid. The company emphasised that an independent board committee has been convened to evaluate the offer thoroughly.<o:p></o:p>

This cautious approach underscores the significance of the decision for Boral and its stakeholders. Seven Group's persistent pursuit of Boral highlights the latter's perceived value in the market, but Boral's board is keen on ensuring that shareholders' interests are adequately represented and protected.<o:p></o:p>

Seven Group's pursuit of Boral dates back to 2021 when it made several unsuccessful takeover attempts, citing the undervaluation of Boral's business. However, buoyed by record-low interest rates and robust domestic performance, Seven Group managed to accumulate a substantial stake in Boral within a short span.<o:p></o:p>

The current offer represents a renewed effort by Seven Group to secure full control of Boral, leveraging its existing ownership stake. The potential for further increases in the offer demonstrates Seven Group's commitment to acquiring Boral at a fair value.<o:p></o:p>

In response to the latest bid, Seven Group has signalled its flexibility by indicating a willingness to raise the offer under specific conditions. The company stated that it would increase its bid by an additional 10 Australian cents per share if it achieves an aggregate 80 per cent stake in Boral if Boral's board unanimously recommends the offer to its shareholders or both.<o:p></o:p>

Furthermore, the offer could rise by another 10 cents if Seven Group's ownership stake reaches 90.6 per cent, crossing the compulsory acquisition threshold. However, Seven Group has set a limit on the maximum price it would pay for Boral shares for at least a year following the offer's closure. This provision reflects Seven Group's strategic approach to acquisition, balancing its pursuit of control with prudent financial management.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Australian conglomerate Seven Group Holdings has made a substantial bid of $1.24 billion to acquire full control of Boral, a leading building products group, signalling a confident wager on the sustained growth of Australia's infrastructure sector.

Australian conglomerate Seven Group Holdings has made a substantial bid of $1.24 billion to acquire full control of Boral, a leading building products group, signalling a confident wager on the sustained growth of Australia's infrastructure sector. Led by billionaire Kerry Stokes and his family, Seven Group already commands nearly 72 per cent ownership of Boral. The offer, unveiled on Monday, aims to secure the remaining shares of the company. The proposed bid, valued at a minimum of approximately $4 per Boral share, comprises 0.1116 Seven Group shares and $0.98 in cash. If successful, the deal would value Boral at $4.35 billion, representing a 3.4 per cent premium over its recent closing price. Seven Group's proposal surpasses any closing price Boral has seen since 2007, underscoring the seriousness of the bid. Boral has strategically reshaped its operations over the past two years, focusing on bolstering its Australian building and industrial products segment to capitalise on the government's heightened infrastructure spending initiatives. The company divested several international assets, redirecting its attention to domestic opportunities. This shift in strategy aligns with the broader trend of governments ramping up infrastructure investments. Boral's proactive measures have positioned it to benefit from this trend, making it an attractive target for acquisition. Despite the enticing offer, Boral has advised its shareholders to refrain from immediate action regarding the takeover bid. The company emphasised that an independent board committee has been convened to evaluate the offer thoroughly. This cautious approach underscores the significance of the decision for Boral and its stakeholders. Seven Group's persistent pursuit of Boral highlights the latter's perceived value in the market, but Boral's board is keen on ensuring that shareholders' interests are adequately represented and protected. Seven Group's pursuit of Boral dates back to 2021 when it made several unsuccessful takeover attempts, citing the undervaluation of Boral's business. However, buoyed by record-low interest rates and robust domestic performance, Seven Group managed to accumulate a substantial stake in Boral within a short span. The current offer represents a renewed effort by Seven Group to secure full control of Boral, leveraging its existing ownership stake. The potential for further increases in the offer demonstrates Seven Group's commitment to acquiring Boral at a fair value. In response to the latest bid, Seven Group has signalled its flexibility by indicating a willingness to raise the offer under specific conditions. The company stated that it would increase its bid by an additional 10 Australian cents per share if it achieves an aggregate 80 per cent stake in Boral if Boral's board unanimously recommends the offer to its shareholders or both. Furthermore, the offer could rise by another 10 cents if Seven Group's ownership stake reaches 90.6 per cent, crossing the compulsory acquisition threshold. However, Seven Group has set a limit on the maximum price it would pay for Boral shares for at least a year following the offer's closure. This provision reflects Seven Group's strategic approach to acquisition, balancing its pursuit of control with prudent financial management. (With inputs from Reuters)

Seven Group Holdings makes a $1.24 billion bid for full control of Boral

Troubling news emerges from Argentina as a new study reveals a startling reality under Javier Milei's administration. Poverty levels have surged, marking the highest in two decades. Watch to know more!

Argentina's poverty rate hits 20-year high

Billionaire investor Nelson Peltz's Trian Fund Management has lambasted Walt Disney's investment strategies, labeling them as a "spaghetti against the wall plan."

In a letter addressed to the shareholders of the entertainment giant on Monday, Trian criticised Disney's approach to its investments, signaling a contentious stance in the ongoing proxy battle between the two parties.

The critique comes as Disney's CEO, Bob Iger, announced a $1.5 billion stake in Epic Games, the creator of "Fortnite," and revealed plans to introduce a flagship ESPN sports streaming service.

Trian has been pushing Disney to streamline its operations, particularly focusing on cost reduction measures and advocating for a strategy akin to Netflix's profitability for its streaming business.

The investor-led fund remains skeptical of Disney's recent moves, expressing concerns about the clarity and viability of its investment decisions. Trian stated in the letter that Disney's endeavours seemed more like attempts to divert shareholders' attention rather than genuine progress.

According to Trian, Disney's proposed sports streaming venture could potentially sow confusion among its customer base and pose competition against its existing services.

The fund also raised doubts about the rationale behind Disney's investment in Epic Games, highlighting the absence of a well-defined product roadmap. Trian's critique underscores the importance of strategic clarity and operational efficiency in Disney's decision-making process.

In response to Trian's criticisms, Disney has called for a shareholder meeting scheduled for April 3, where investors will have the opportunity to vote on the future direction of the company.

The clash between Disney's management and activist investors like Trian underscores the divergent perspectives on the optimal path forward for the entertainment giant. With stakes high and tensions mounting, shareholders are poised to play a pivotal role in shaping Disney's trajectory in the coming months.

(With inputs from Reuters)

Billionaire investor Nelson Peltz's Trian Fund Management has lambasted Walt Disney's investment strategies, labeling them as a "spaghetti against the wall plan.

Billionaire investor Nelson Peltz's Trian Fund Management has lambasted Walt Disney's investment strategies, labeling them as a "spaghetti against the wall plan." In a letter addressed to the shareholders of the entertainment giant on Monday, Trian criticised Disney's approach to its investments, signaling a contentious stance in the ongoing proxy battle between the two parties. The critique comes as Disney's CEO, Bob Iger, announced a $1.5 billion stake in Epic Games, the creator of "Fortnite," and revealed plans to introduce a flagship ESPN sports streaming service. Trian has been pushing Disney to streamline its operations, particularly focusing on cost reduction measures and advocating for a strategy akin to Netflix's profitability for its streaming business. The investor-led fund remains skeptical of Disney's recent moves, expressing concerns about the clarity and viability of its investment decisions. Trian stated in the letter that Disney's endeavours seemed more like attempts to divert shareholders' attention rather than genuine progress. According to Trian, Disney's proposed sports streaming venture could potentially sow confusion among its customer base and pose competition against its existing services. The fund also raised doubts about the rationale behind Disney's investment in Epic Games, highlighting the absence of a well-defined product roadmap. Trian's critique underscores the importance of strategic clarity and operational efficiency in Disney's decision-making process. In response to Trian's criticisms, Disney has called for a shareholder meeting scheduled for April 3, where investors will have the opportunity to vote on the future direction of the company. The clash between Disney's management and activist investors like Trian underscores the divergent perspectives on the optimal path forward for the entertainment giant. With stakes high and tensions mounting, shareholders are poised to play a pivotal role in shaping Disney's trajectory in the coming months. (With inputs from Reuters)

Trian fund management criticises Disney's investment plans in proxy battle

A federal judge has ramped up the Securities and exchange commission's scrutiny of Elon Musk's $44 billion takeover of Twitter, now branded as 'x'. The judge's order demands Musk's testimony. Watch to know more!

Elon musk faces court-ordered grilling over $44 bn twitter deal

Finland, home to legendary telecom giant Nokia and several other beloved brands, is among the countries engaged in India's growing market for years now. Business Finland, a leader in promoting Finnish business interests in India, is bullish about the South Asian economy as a business and investment destination and is helping Finnish companies achieve global growth through strategic matchmaking with Indian system integrators.&nbsp;

<h2>Indian markets with Finnish expertise</h2>

"India is the most important market so we started this programme with India and we are going to expand this further," said Robin Singh, head of the System Integrator Programme at Business Finland, in an exclusive interview with WION.

By partnering with key Indian integrators like Infosys and HCl, Business Finland matches Finnish technological expertise with Indian market needs, fostering fruitful collaborations, said Singh, explaining the group's strategies and initiatives.&nbsp;

He was speaking on the sidelines of an event organised in collaboration with the Embassy of Finland in India on Wednesday (Feb 7).

"We understand their (Indian companies) needs and what their clients are looking for and we go back to Finland, search for the right technologies partner from Finland, and bring them here to matchmake them with Indian system integrators."&nbsp;

<h2>India as the market place: Cultural understanding and market navigation</h2>

Singh stressed the importance of patience and focus when entering a diverse and complex market like India.&nbsp;

"The most important part is for them [companies] to understand the complexity of the Indian market. There was this company which came to us last year and they told us that when they started working in India, 30 years back, India was the most loss-making country for them but today India is the biggest market both in terms of value and volumes for them globally," he shared.&nbsp;

"So, that is the kind of reward that you get from India and we always tell them that when you come to India, take our support, take our guidance and you will be rewarded really really well."

Also Read |&nbsp;<a data-ved="2ahUKEwjfr-mxipuEAxWpn2MGHQ4SDMEQxfQBKAB6BAgIEAE" href="https://www.wionews.com/world/g20-raised-indias-profile-as-voice-of-global-south-imec-has-potential-finnish-envoy-to-wion-660098" jsname="YKoRaf" ping="/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.wionews.com/world/g20-raised-indias-profile-as-voice-of-global-south-imec-has-potential-finnish-envoy-to-wion-660098&amp;ved=2ahUKEwjfr-mxipuEAxWpn2MGHQ4SDMEQxfQBKAB6BAgIEAE">G20 raised India`s profile as voice of Global South, IMEC has potential: Finnish envoy to WION</a>

"India is a complex market. India is a big market," he said, adding, "But having said this, India is also a very rewarding market. India has already become, for some of our companies, either the biggest market already in the world for them or if not the biggest, one of the top three markets for our companies globally."

Business Finland provides essential support to Finnish companies, offering guidance on navigating cultural nuances and finding the right partners to ensure success in India's dynamic business landscape, he said.

"We explain that to Finnish companies and tell them that if you are looking at India, be patient, be focused. You just can't knock on the door, try and sell something and go back. It's not going to work that way in India. If you have to come and get rewarded in India, find the right partners, take our support and we can help them with market research, we can help them find the right partners. We can also guide them and navigate them in this complex Indian market," Singh said.&nbsp;

<h2>Fostering collaboration through strategic events</h2>

Business Finland creates opportunities for meaningful engagement and partnership building, by partnering with organisations like the Finnish Chamber of Commerce and participating in key tech summits.

Business Finland organises industry-specific meetings, networking events, and delegations to facilitate collaboration between Finnish and Indian companies.&nbsp;

"We also have the Finnish Chamber of Commerce, which has about 35 companies, part of the planning that they have and we organise events for Fincham. We also organise delegations with visits of Finnish companies to India," Singh pointed out. 
&nbsp; 
"These are our own events and then we also are the prime partners for other events such as the Bengaluru Tech Summit. We also have a collaboration with the government of Karnataka. We also participate in the India Mobile Congress (IMC) and then we also collaborate at the global scale for events Mobile World Congress etc."&nbsp;

Singh highlighted the significance of India's growing startup ecosystem and the potential for Finnish companies to thrive in collaboration. With a focus on emerging technologies like 6G, Artificial Intelligence, and sustainability, Business Finland looks forward to foster research partnerships and commercial ventures between Finnish and Indian entities.&nbsp;

<h2>6G Bridge programme: Seizing opportunities in emerging technologies</h2>

By leveraging India's aspirations in the 6G space in mobile telephony and Finland's expertise, the 6G Bridge programme seeks to facilitate collaboration between Indian system integrators and Finnish entities.&nbsp;

"There was a report where the government of India said that India would want to have at least 10 per cent of the total Intellectual Property Rights (IPR) registration globally in the 6G space and we at Finland and Finland as a country, we have decided to be the torchbearer of 6G globally."

"In the year 2018, we started working on 6G and the government has funded about 300 million euros to develop the right set of 6G skills and research within Finland and we believe that what India is looking for and what Finland can offer there is a great match."

<h2>6G Mobile World Congress 2024</h2>

Singh said that this year, at the 6G Mobile World Congress they are taking about 20 countries including Finland in the communication space, metaverse, and sustainability.&nbsp;

"Along with these 20 countries, we are also taking four research centres including the University of Oulu. We have already reached out to the system integrators from India. We have received a positive response and they have also agreed to do very focused matchmaking events in Barcelona."

<h2>Partnerships in AI</h2>

Finnish companies are seeking collaboration with Indian firms on AI, where India boasts a vast and rapidly growing market, fueled by a combination of technological advancements and increasing&nbsp;digitalisation.

WATCH | Finnish envoy speaks to WION on IMEC, G20, India-EU FTA &amp; more | WION Originals

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On this, Singh said, "We are the first country in Europe to have a metaverse strategy. We are the second in Europe to have an AI strategy. We are very strong. We are called the torchbearers of communication technologies and we are number one in sustainability solutions globally. Looking at the opportunities in India and the push from the government I think sustainability and AI... these are the two areas where I believe we are going to see a lot of opportunities for the Finnish companies, especially in the sustainability&nbsp;space."

&nbsp;

Finland, home to legendary telecom giant Nokia and several other beloved brands, is among the countries engaged in India's growing market for years now. Business Finland, a leader in promoting Finnish business interests in India, is bullish about the South Asian economy as a business and investment destination and is helping Finnish companies achieve global growth through strategic matchmaking with Indian system integrators.

Finland, home to legendary telecom giant Nokia and several other beloved brands, is among the countries engaged in India's growing market for years now. Business Finland, a leader in promoting Finnish business interests in India, is bullish about the South Asian economy as a business and investment destination and is helping Finnish companies achieve global growth through strategic matchmaking with Indian system integrators. Indian markets with Finnish expertise "India is the most important market so we started this programme with India and we are going to expand this further," said Robin Singh, head of the System Integrator Programme at Business Finland, in an exclusive interview with WION. By partnering with key Indian integrators like Infosys and HCl, Business Finland matches Finnish technological expertise with Indian market needs, fostering fruitful collaborations, said Singh, explaining the group's strategies and initiatives. He was speaking on the sidelines of an event organised in collaboration with the Embassy of Finland in India on Wednesday (Feb 7). "We understand their (Indian companies) needs and what their clients are looking for and we go back to Finland, search for the right technologies partner from Finland, and bring them here to matchmake them with Indian system integrators." India as the market place: Cultural understanding and market navigation Singh stressed the importance of patience and focus when entering a diverse and complex market like India. "The most important part is for them [companies] to understand the complexity of the Indian market. There was this company which came to us last year and they told us that when they started working in India, 30 years back, India was the most loss-making country for them but today India is the biggest market both in terms of value and volumes for them globally," he shared. "So, that is the kind of reward that you get from India and we always tell them that when you come to India, take our support, take our guidance and you will be rewarded really really well." Also Read | G20 raised India`s profile as voice of Global South, IMEC has potential: Finnish envoy to WION "India is a complex market. India is a big market," he said, adding, "But having said this, India is also a very rewarding market. India has already become, for some of our companies, either the biggest market already in the world for them or if not the biggest, one of the top three markets for our companies globally." Business Finland provides essential support to Finnish companies, offering guidance on navigating cultural nuances and finding the right partners to ensure success in India's dynamic business landscape, he said. "We explain that to Finnish companies and tell them that if you are looking at India, be patient, be focused. You just can't knock on the door, try and sell something and go back. It's not going to work that way in India. If you have to come and get rewarded in India, find the right partners, take our support and we can help them with market research, we can help them find the right partners. We can also guide them and navigate them in this complex Indian market," Singh said. Fostering collaboration through strategic events Business Finland creates opportunities for meaningful engagement and partnership building, by partnering with organisations like the Finnish Chamber of Commerce and participating in key tech summits. Business Finland organises industry-specific meetings, networking events, and delegations to facilitate collaboration between Finnish and Indian companies. "We also have the Finnish Chamber of Commerce, which has about 35 companies, part of the planning that they have and we organise events for Fincham. We also organise delegations with visits of Finnish companies to India," Singh pointed out. "These are our own events and then we also are the prime partners for other events such as the Bengaluru Tech Summit. We also have a collaboration with the government of Karnataka. We also participate in the India Mobile Congress (IMC) and then we also collaborate at the global scale for events Mobile World Congress etc." Singh highlighted the significance of India's growing startup ecosystem and the potential for Finnish companies to thrive in collaboration. With a focus on emerging technologies like 6G, Artificial Intelligence, and sustainability, Business Finland looks forward to foster research partnerships and commercial ventures between Finnish and Indian entities. 6G Bridge programme: Seizing opportunities in emerging technologies By leveraging India's aspirations in the 6G space in mobile telephony and Finland's expertise, the 6G Bridge programme seeks to facilitate collaboration between Indian system integrators and Finnish entities. "There was a report where the government of India said that India would want to have at least 10 per cent of the total Intellectual Property Rights (IPR) registration globally in the 6G space and we at Finland and Finland as a country, we have decided to be the torchbearer of 6G globally." "In the year 2018, we started working on 6G and the government has funded about 300 million euros to develop the right set of 6G skills and research within Finland and we believe that what India is looking for and what Finland can offer there is a great match." 6G Mobile World Congress 2024 Singh said that this year, at the 6G Mobile World Congress they are taking about 20 countries including Finland in the communication space, metaverse, and sustainability. "Along with these 20 countries, we are also taking four research centres including the University of Oulu. We have already reached out to the system integrators from India. We have received a positive response and they have also agreed to do very focused matchmaking events in Barcelona." Partnerships in AI Finnish companies are seeking collaboration with Indian firms on AI, where India boasts a vast and rapidly growing market, fueled by a combination of technological advancements and increasing digitalisation. WATCH | Finnish envoy speaks to WION on IMEC, G20, India-EU FTA & more | WION Originals × On this, Singh said, "We are the first country in Europe to have a metaverse strategy. We are the second in Europe to have an AI strategy. We are very strong. We are called the torchbearers of communication technologies and we are number one in sustainability solutions globally. Looking at the opportunities in India and the push from the government I think sustainability and AI... these are the two areas where I believe we are going to see a lot of opportunities for the Finnish companies, especially in the sustainability space."

Finnish businesses are entering India's dynamic market and Business Finland is empowering them

Pakistan's voters are the most pessimistic about the economy in the years leading up to Thursday's election. That is based on a Gallup poll, which also showed Pakistani voters struggle to make ends meet in the face of the highest inflation in Asia. This report is to understand the likely impact of the economic conditions on Pakistan's elections.

Pakistan's economic pessimism hits record

Many merchants have started to refuse online payments, instead opting for cash. Paytm is now sending its sales staff to retailers, urging them to continue using the app. Meanwhile, rivals are trying to capture Paytm's market space. Rival apps like Phonepe and Google Pay recorded an average of 52% growth.

Rivals seek Paytm's market share

Amazon's chief, Jeff Bezos, discloses that he plans to sell nearly 50 million shares of the company over the next 12 months. That is possibly to profit from amazon's stock surge that has moved him closer to being the world's richest person. If Bezos does execute his plan, it will be his first stock sale of amazon since 2021 and will get almost $8.6 billion at the current share price. Watch to know more!

Jeff Bezos plans to sell nearly 50 million shares of Amazon

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