Latest Developments

Asia
The Hindu BusinessLine

India auto retail sales rise 17.5% in August: FADA

India's ​automobile ‌retail sales rose 17.5 per cent ​year-on-year ⁠in August, driven ‌by stronger ‌demand ‌for two-wheelers ⁠and passenger ⁠vehicles, the Federation ​of Automobile ‌Dealers Associations said on Monday. Dealers ‌sold a ​total of 2.4 ⁠million vehicles during ‌the month, compared with 2.6 million ‌units in ​July, the industry body ⁠said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

India auto retail sales rise 17.5% in August: FADA
Asia
The Hindu BusinessLine

Reports of privatisation ‘baseless and incorrect’: ISRO

To quell internal anxieties about privatisation amid reports of its employees seeking clarification, space body ISRO said on Sunday that reports of privatisation were “baseless and incorrect”. “We wish to categorically state that ISRO will neither be privatised nor will its importance be diminished. ISRO will continue to remain India’s principal institution for advanced space research and technology development, national and strategic missions, space science and exploration and critical and frontier space capabilities,” the marquee institution said in a statement. The organisation noted that increased private participation in space is not about reducing ISRO’s role. “It is about enabling ISRO to focus even more strongly on the next generation of India’s space programme, while industry scales mature technologies and capabilities,” it said. The Indian government initiated space-sector reforms since 2020 and institutionalised it through the Indian Space Policy 2023, along with progressive liberalisation of FDI policy in the sector. The reforms should, therefore, be seen as “ecosystem expansion and capability multiplication, not privatisation”, said ISRO. The controversy began from recent public remarks made by Pawan Kumar Goenka, Chairperson of the Indian National Space Promotion and Authorisation Centre (IN-SPACe), that eventually ISRO will not make any launch vehicles and that it can be done by the private sector. Following this, major employee associations of ISRO wrote to ISRO Chairman V Narayanan demanding urgent clarification. Employees worried that ISRO will be diminished and sought clarifications regarding employment and other concerns. ISRO, in its statement, clarified that technology transfers do not mean ISRO is withdrawing from that domain, but helps enable large-scale production and commercialisation. “The transition is therefore towards an ISRO-led national space ecosystem.” By ISROs focus will move to frontier R&D, advanced technologies, human spaceflight, next-generation launch systems, and deep-space, among others. This transition, it notes, is particularly important in the context of Space Vision 2047, which includes establishing the Bharatiya Antariksh Station by 2035, undertaking an Indian crewed mission to the Moon by 2040 and developing next-generation and reusable launch systems, among others. Defining roles, ISROs statement says that it remains the core organisation for advanced R&D, technology development and national missions, and IN-SPACe facilitates and authorises participation of non-government entities. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Reports of privatisation ‘baseless and incorrect’: ISRO
Asia
The Hindu BusinessLine

Google-backed Indian space startup raises $100 million in latest funding round

Indian space tech startup Pixxel said on Monday it had ​raised $100 million in a Series ‌C funding round led by Singapore state ​investor Temasek and British space-technology ⁠venture firm Seraphim, marking the single-largest funding round by a space technology company ‌in India. Google-backed Pixxel's latest round included existing investors Radical Ventures and growX ‌Ventures, as well as new ‌investors ⁠360 ONE Asset and IMM ⁠Investment, bringing its total funding to $195 million, the company said. Pixxel is one of the ​Indian space startups ‌that emerged after the government opened the sector to private players. Founded by Awais Ahmed, Pixxel began with ‌hyperspectral satellites that could reveal information ​about the Earth's surface beyond what conventional imagery could capture. Since ⁠then, it has expanded its scope to include Aurora, its Earth intelligence ‌software, and satellite systems for both commercial and sovereign space missions. Together, these form the core of Pixxel's planetary infrastructure vision, connecting sensors, software, and space systems to help governments, industries, ‌and institutions turn Earth observation into actionable ​intelligence, its statement said. The fresh capital will help Pixxel expand ⁠its sensing capabilities through its Honeybee satellite ⁠constellation and high-resolution optical imaging satellites, while further developing Aurora as ‌a platform that combines these datasets into decision-ready insights. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Google-backed Indian space startup raises $100 million in latest funding round
North America
CNBC Economy

Singapore inflation hits highest in nearly two years, but undershoots expectations

Singapore inflation missed estimates even as it accelerated to a near two-year high in July, as higher energy prices due to the Iran war lifted electricity prices. The city-state reported that consumer prices last month rose 2.2%, year on year, compared with the 2.3% expected by economists polled by Reuters, and the 1.9% rise seen in June. The consumer price index fell 0.2% on a month-on-month basis.Elevated global energy prices have led to a rise in Singapore's electricity and gas charges, as well as higher transportation fares, according to a joint release by the Monetary Authority of Singapore and the Ministry of Trade and Industry. "Global oil prices remain high and volatile while adverse weather conditions are expected to lower agricultural yields and raise Singapore's imported food prices," the statement said, adding that prices of more imported goods and services are expected to climb moving forward. The MAS had tightened its monetary policy in a surprise move in July, warning last month that imported inflation was likely to rise in the coming quarters due to higher fuel and electronic input costs. Core inflation, which strips out prices of private transport and accommodation, rose to 2% compared to the 2.2% forecast. Singapore had rolled out two support packages for the country in response to the Iran war, totaling about 2 billion Singapore dollars, with cash handouts, consumption vouchers for households, and tax rebates for companies. The inflation data also comes as the city-state upgraded its GDP forecast sharply for the full year 2026, with growth now expected to come in at 4.5% to 5.5%, more than double the lower-end of its previous forecast of 2%-4%. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Singapore inflation hits highest in nearly two years, but undershoots expectations
Asia
The Economic Times

Nifty Outlook: Analysts pick key levels and stocks to watch

Nifty has experienced a decline for four straight weeks, breaking through the crucial 24,000 support level. Experts recommend adopting a market-neutral approach to capitalize on expected volatility. Among the stocks to watch are APL Apollo Tubes and One 97 Communications, which may offer promising returns. The Bank Nifty indicates upward trends, encouraging investors to buy on dips around 56,400. Additionally, Hindustan Oil Exploration Company and Engineers India present attractive opportunities.

Nifty Outlook: Analysts pick key levels and stocks to watch
Asia
The Hindu BusinessLine

FCNR-led rupee rally makes gold cheaper, weighs on prices

After the relentless rally, spot gold prices have fallen by ₹7,270 per 10 grams, or four per cent in last eight trading sessions to ₹1,54,884 on Friday against ₹162,154 logged on August 26, due to th sharp appreciation of the rupee against dollar. Rupee has appreciated against dollar by 1 per cent to 94.49 on Friday against 95.35 on August 26 on the back of $127 billion mop-up through FCNR deposit. When rupee appreciates the value of dollar-denominated gold depreciates and it makes the yellow metal cheaper for consumers in rupee terms. However, any sharp dip in gold makes consumers to cut down on gold purchases in anticipation of further fall in prices. Domestic silver prices have also dipped four per cent or ₹9,935 per kg to ₹2,35,456 on Friday from ₹2,45,391 logged on August 24, according the India Bullion and Jewellers Association data. In the US, the spot gold prices had fallen 3 per cent from $4,654 an ounce registered on August 26 and fell to $4,523 an ounce on Friday. Prithviraj Kothari, President, India Bullion and Jewellers Association said many consumers prefer to wait rather than buy gold during period of uncertainty and this leads to bunching of purchases around perceived dips. A steadier or stronger rupee, in turn, softens the domestic price of gold somewhat, since a large part of India’s gold is imported and priced based on USD-INR conversion. This could offer some relief to jewellery buyers already contending with elevated global gold prices, he said. The overall footfall likely holds up reasonably well, but average ticket size and gold volume per purchase could see a mild dip if volatility persists, he added. Rajesh Rokde, Chairman, All India Gem and Jewellery Domestic Council said the fall in gold prices should overall help gold demand during the upcoming festive season, with the industry continuing to encourage responsible consumption, transparency and value creation. Even as gold prices may remain volatile, people buy gold for weddings, festivals, auspicious occasions and as a form of long term wealth and security for the future, he said. Aarav Bafna, Director, Akoirah by Augmont said volatile gold prices are making festive demand more selective rather than smaller in value as consumers continue to prioritise weddings and auspicious purchases. If prices settle after the recent volatility, deferred demand should return relatively quickly, particularly during weddings and the main festive buying days, he added.

FCNR-led rupee rally makes gold cheaper, weighs on prices
Asia
The Hindu BusinessLine

BS7 opens up close to 10,000-crore annual opportunity for auto-component makers

India’s move towards Bharat Stage 7 emission norms opens up an estimated 10,000-crore annual opportunity for auto-component manufacturers as tighter pollution standards increase the value of catalysts, filters, sensors, electronic controls and exhaust-treatment systems fitted to combustion vehicles. Industry experts told businessline that heavy trucks and buses could see the richest incremental content at ₹75,000-1 lakh per vehicle, followed by medium commercial vehicles at ₹30,000-40,000 and light commercial vehicles at ₹15,000-20,000, reflecting more complex dosing, after-treatment and electronic-control requirements. Diesel cars and SUVs could add ₹12,000-16,000 through more sophisticated SCR after-treatment and NOx monitoring, while petrol, CNG and hybrid passenger vehicles could require ₹3,000-4,000 of additional content through components such as particulate filters and sensors. Two-wheelers sit at the other end at ₹750-1,130 per vehicle, but annual volumes exceeding two crore units make them a significant part of the opportunity. The government is moving closer to putting the next emission regime on paper. Speaking at the SIAM Annual Convention in New Delhi on September 3, Road Transport and Highways Secretary V Umashankar said final consultations were nearing completion. “Consultations are going on. The draft should come in a couple of months,” he said. Exhaust and after-treatment systems are estimated to capture the largest slice of the BS7 opportunity, about 40-45 per cent, or ₹3,000-4,500 crore—followed by sensors and monitoring controls at 25-30 per cent, or ₹2,000-3,000 crore. Fluid-dosing systems could represent another 15-20 per cent, or ₹1,200-2,000 crore, and precision engine and valve hardware 10-15 per cent, or ₹800-1,500 crore. “The annual incremental opportunity for the component industry is directionally possible if BS7 requires the expected step-up in after-treatment, sensors, dosing and electronic controls across major vehicle categories,” said Randheer Singh of ForeSee Advisors. “The value addition will not be uniform: heavy commercial vehicles and diesel passenger vehicles could see the largest increase per vehicle, while two-wheelers could become significant because of their volumes.” That puts Sharda Motor Industries and Tenneco Clean Air India among the more direct beneficiaries through exhaust and after-treatment assemblies, alongside Eberspächer and Cummins in heavy-duty applications. Bosch, Uno Minda, Continental and Sensata have exposure to the sensors and monitoring opportunity, while Bosch and Cummins also participate in dosing systems. Diesels offer higher content because they already use particulate filters and selective catalytic reduction systems. That makes diesel-heavy portfolios such as Mahindra’s and Tata Motors’, alongside diesel offerings from Hyundai, Kia and Toyota, higher-value applications for suppliers. Singh said the final opportunity would depend particularly on real-driving emissions, onboard monitoring and the treatment of two-wheelers. That makes two-wheelers a key swing factor in the final tally. SIAM, backed by Japanese industry body JAMA, wants the segment kept out of initial Real-Driving Emissions (RDE) testing. Their argument hinges on physical load: standard Portable Emissions Measurement Systems (PEMS), which include gas cylinders, power packs, and heavy analyzers, weigh over 100 kg. While four-wheelers absorb that weight easily, strapping 100 kg onto a lightweight commuter motorcycle essentially acts like a permanent heavy passenger, artificially spiking engine load and distorting tailpipe readings. “Deferring RDE for two-wheelers could push back a sizable portion of the incremental sensor, monitoring, and control revenue linked to the segment,” experts noted, tracking the natural rollout of BS7. BS7 will overlap with tighter CAFE III fuel-economy requirements and India’s shift to WLTP emissions testing from April 2027, creating parallel compliance programmes for automakers. “India’s framework is expected to draw from Europe’s Euro 7 regime, but emission limits, testing and monitoring requirements, vehicle coverage and implementation dates remain undecided. Once that is clarified, a better analysis of the opportunity for the domestic component makers can be given” Singh of ForeSee indicated

BS7 opens up close to 10,000-crore annual opportunity for auto-component makers
Europe
The Guardian

Meet the gen Zers finding job opportunities teaching English abroad

Arianna Marie and Zwiwe Dlamini teach English in South Korea. Photograph: Courtesy Arianna Marie and Zwiwe DlaminiView image in fullscreenArianna Marie and Zwiwe Dlamini teach English in South Korea. Photograph: Courtesy Arianna Marie and Zwiwe DlaminiWork & careersMeet the gen Zers finding job opportunities teaching English abroadSome young people are teaching in countries like South Korea as education funding is gutted and recent grads face a tough job market in their own countries A year ago, Arianna Marie, 25, was struggling to control the students in her Florida elementary school classroom. She was living with her parents to save on rent and quickly feeling her passion for teaching dry up, even though it was her first job since graduation. “I was extremely burnt out,” Marie said. “We had a teacher shortage, so all of my classes were overcrowded.” When her district wanted to transfer her to a new school, she looked for opportunities abroad. Through an English-language teaching job in South Korea, Marie is now living in Daegu, a city in the south-eastern part of the country, with enough pay and benefits that she can save and travel. The fact that it’s the home to K-pop and K-dramas doesn’t hurt – and in a striking shift, she’s rediscovered her love for the job. “I never have to crack down on behavior issues, and both students and teachers respect me so much,” Marie said. “I actually get to focus solely on teaching.” Marie is part of a program by the South Korean government that is placing native English speakers with a college degree and Teaching English as a Foreign Language (TEFL) certificates with local public schools, as it increases spending on education. Benefits include free housing, flight reimbursements, healthcare and monthly salaries starting at about $1,400. Graduating with a college degree in the US no longer comes with the stability it once guaranteed. Since the Covid pandemic, the unemployment rate for recent college graduates has been higher than the overall unemployment rate. For those who have a job, earnings have been rising slower than the pace of inflation. New entrants in US public service jobs like teaching are increasingly leaving the profession, citing low pay and high stress. Other countries, including Japan and Taiwan, are similarly investing in full-time English-language teachers, attracting young workers with benefits they would be hard-pressed to find in their home countries. Gen Z is spreading the word. Some English-language teachers have garnered thousands of followers on TikTok and Instagram, showing audiences their lives abroad. Marie has been keeping track of her travels, and documenting some of her classroom experiences, on her Instagram account. The TEFL Institute, which issues TEFL certification courses that accredit English-language teachers, notes that the English-language teaching market was valued at $95bn in 2026, with more than 2m TEFL jobs available worldwide. The market is expected to reach $181bn by 2034, and the Asia-Pacific region is growing the fastest.

Meet the gen Zers finding job opportunities teaching English abroad
Europe
BBC Business

'My parents won't lend me £10k but helped my brother': When families play financial favourites

Financial favouritism can cause jealousy and resentment long into adulthood and, in some cases, even spark legal disputes after a parent dies. But experts say there are strategies that can help you avoid it. John says his parents, who have always supported his younger brother, recently refused to lend him £10,000 towards a house deposit after he broke up with his partner. His parents had previously given his brother a deposit to buy a home and subsidised his living expenses. John, 47, whose real name we have changed, says he was viewed as the more academic one growing up and expected to stand on his "own two feet" financially, while his brother, 42, struggled to make his way in the world and was "coddled". He says the favouritism has made him believe "the needs of others take precedence over my own", leaving him feeling "isolated" and affecting friendships and romantic relationships. Forums like Mumsnet and Reddit, external are full of posts complaining about siblings being shown preferential treatment regarding money. Common gripes include the amount of financial support adult children have received, external from their parents during their lifetime, the way inheritance is divided, external, and whether a sibling has supported their parents more than others, external. Dr Fenia Christodoulidi, from counselling service Relate, says that disagreements about money between siblings are rarely just about the money itself. "Financial support from parents often carries a powerful emotional meaning and some siblings tend to interpret differences in support as signs of favouritism, unequal love or a lack of recognition." She adds that even when parents have "practical reasons" for treating their children differently, failing to communicate these clearly can "leave room for misunderstanding and resentment". Those reasons might include an adult child needing more support because they earn significantly less, have an illness, or have to pay more to get on the housing ladder due to rising prices, external. Ellis, who works in finance in London, tells the BBC that she and her siblings have had "different levels of support at different times" from their parents and it's never been a problem.

'My parents won't lend me £10k but helped my brother': When families play financial favourites