World Business News in English

India's Adani Total Gas reported a 17.2% rise in quarterly profit on Thursday on price hikes and shortterm contracts, and the company said it was evaluating an independent

Adani Group also plans to prepay a $500 million loan due next month to a group of banks that includes Barclays, Standard Chartered and Deutsche Bank

A new report by the non-profit organization Canadians for Tax Fairness says Canada should institute a windfall tax on all large corporations to help recover some of the public funds awarded to businesses during the pandemic.

Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended with gains, while Tokyo settled in the red.

West Fraser Timber says it's curtailing operations at Cariboo Pulp & Paper in Quesnel, B.C., beginning in mid-April for one month and then for another month in the third quarter.

Freshii Inc. says its shareholders have approved the sale of the healthy fast-food chain to Montreal-based Foodtastic Inc.

Justice BM Shyam Prasad, in his interim order on February 6, 2023 recorded the Department's assurance against coercive action till the next date of hearing on February 24.

In the company’s first earnings report since Bob Iger returned as C.E.O., it exceeded Wall Street’s expectations. But about 7,000 jobs are expected to be cut.

In a first for the Bank of Canada, it has released a summary of deliberations by its governing council regarding its policy decision to raise its key interest rate target by a quarter of a percentage point to 4.5 per cent in January. Here are five key takeaways from those discussions.

Seven key Adani companies have lost at least a combined $110 billion in value after Hindenburg Research alleged improper use of offshore tax havens and stock manipulation by the conglomerate

The Finance Minister held a virtual conversation with the IMF MD to discuss the upcoming G20 Finance Ministers and Central Bank Governors meeting, scheduled to be held in Bengaluru later this month.

In his plea, Advocate Vishal Tiwari has said the petition depicts the "drastic condition and fate of people" when there is a situation of share fall in the securities market due to various reasons

Widespread blackouts, runaway inflation, depreciating currency and plummeting foreign exchange reserves plague Pakistan

A weak rupee against major rivals and persistent foreign capital outflows impacted domestic equity market sentiments, traders said.

At the interbank foreign exchange, the domestic unit opened weak at 82.59 against the dollar, then fell to 82.66, registering a decline of 12 paise over its last close.

Canada's main stock index gained almost 100 points Tuesday as strong performance in the energy sector was dragged down by losses in telecom and utilities, while U.S. markets also rose.

New Statistics Canada data shows investors made up almost one third of homeowners in some provinces in 2020.

Chief Executive Eric Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus

Bank of Canada Governor Tiff Macklem argued that the rapid interest rate hikes from the central bank in the past year are working already to tame inflationary pressures.

A new poll finds one-third of Canadian households say their financial situation has worsened over the last year.

The union representing WestJet pilots says contract negotiations with the airline have been unproductive and federal conciliation may be needed to avert a strike.

Alberta set an annual record for oil production last year with an output of approximately 3.73 million barrels a day in crude oil, findings from ATB Financial showed.

Adani Enterprises zoomed 14.63 per cent to settle at Rs 1,802.50 apiece.

Luxury outerwear maker Canada Goose Holdings Inc. has charted a new five-year growth path it says could nearly triple its annual revenue by 2028.

Canada's main stock index edged higher in late-morning trading, while U.S. stock markets were mixed.

Concerns have also been raised in certain quarters about LIC’s investments in Adani Group companies

Govt. will cope with whatever fresh shocks that may emerge due to global developments, says Sitharaman; Minister cites example of manner in which Centre coped with unexpected jump in fertiliser prices in 2021

Paytm' stock rose as much as 7.4% yesterday, its biggest intraday jump in two months after the firm posted its first-ever quarterly operating profit as a listed firm.

Revenue from operations rose to ₹1,991 crore from ₹1,541 crore

Assets amounting to Rs 289.28 crore have also been seized under the Foreign Exchange Management Act, 1999

Total revenue rose nearly 20% year-on-year to ₹35,804 crore in the December quarter (Q3FY23) "backed by strong and consistent performance delivery across the portfolio"

Stock indices closed on a lower note.

Muted domestic equities, unabated foreign capital outflows and rising crude prices restricted the rupee's rise, forex dealers said

As of January 30 this year, more than Rs 2.24 lakh crore have been disbursed to eligible farmers through various instalments as income support, Agriculture Minister Narendra Singh Tomar said.

The policy rate now stands at 6.25%. The RBI's rate-setting panel - Monetary Policy Committee - will decide on the interest rate.

Some Adani Group stocks revived post the confident statement by TotalEnergies, a French energy company, raising the sentiment of the market, said Vinod Nair, Head of Research at Geojit Financial Services.

While the RBI did not name the conglomerate, the recent rout in Adani Group shares has triggered widespread concern about the group’s level of indebtedness and its ability to meet its debt obligations.

Ministers will then start on an outreach programme to spread the word in States

Canada’s economic growth is weighed down by its sensitivity to interest rates when compared to the U.S., allowing the Bank of Canada to pause rate hikes while its counterpart continues to drive rates higher, according to one economist.

While rising interest rates may make some Canadians hesitant to use their credit card, one personal finance expert said continuing to do so allows consumers to accumulate points from loyalty programs.

Loblaw's corporate Twitter account sought to set the record straight on whether the grocer is profiteering from food inflation, but few online seemed convinced.

The Real Estate Board of Greater Vancouver says January home sales were more than halved from the year before and down 21 per cent from December.

Dairy giant Saputo has announced sweeping changes to its U.S. operations, saying it will permanently close three facilities, build a new packaging facility and expand string cheese operations.

The CEO of Rogers Communications believes the company is ready to handle increased competition from Videotron if its merger with Shaw Communications goes through.

The Union Budget assumes a nominal GDP growth of 10.5% in 2023-24, which implies a projected inflation rate of just 4%, given the economic survey’s baseline real GDP growth projection of 6.5%. How does this fare against the figures of the previous governments?

Market experts believe that putting in this framework means intra-day trading would require 100% upfront margin.

The stock prices of seven Adani group companies have lost significant value with Adani Total Gas shares taking the biggest plunge of 56% since January 24

The S&P/TSX composite index was up 51.40 points at 20,802.45.

Air fare rationalisation and route stabilisation for India-Malaysia flights will push tourist arrivals to pre-pandemic levels, says Malaysia Tourism Promotion Board

​Can almost call it Telecom Thursday around these parts, with the nation's two largest service providers both reporting results.