2024-09-26 12:29

BANGKOK, Sept 26 (Reuters) - Thailand's main international airport in Bangkok said on Thursday it received a bomb threat concerning an incoming Thai VietJetAir flight traveling from Danang, Vietnam, but no explosives were found and all passengers and crew were safe. "The incident did not affect the airport's overall operations," Suvarnabhumi airport's general manager said in a statement, adding emergency measures had since been lifted and a passenger suspected of making the threat had been handed over to police for further investigation. Sign up here. https://www.reuters.com/world/asia-pacific/thailands-suvarnabhumi-airport-reports-bomb-hoax-flight-vietnam-2024-09-26/

2024-09-26 12:19

NEW DELHI, Sept 26 (Reuters) - India expects food inflation to ease in the absence of climatic shocks, and low oil prices will be a "bright spot for the economy", the government's monthly economic report said on Thursday. India's central bank said this month headline inflation may average 4.5% in the second half of the fiscal year, aided by weaker crude oil prices, but volatility in food prices could pose a challenge. India's retail inflation (INCPIY=ECI) was 3.65% in August, higher than the revised 3.60% in July, as vegetable prices soared. While the report retained the nation's GDP growth projection of 6.5%-7% for the current fiscal year, it said urban consumption was showing some signs of weakness, evident in declining auto sales between April and August. High transport costs are a key constraint for Indian businesses in increasing exports, the report said. Indian goods exports in August fell for a second straight month, which traders blamed on rising shipping costs, an economic slowdown in China and recessionary trends in Europe and the United States. Sign up here. https://www.reuters.com/world/india/low-oil-prices-are-bright-spot-indian-economy-government-report-says-2024-09-26/

2024-09-26 11:47

MOSCOW, Sept 26 (Reuters) - Russian President Vladimir Putin said on Thursday that the vast domestic energy sector will be able to achieve its goals and overcome "illegal" western sanctions, while also praising ties with BRICS and OPEC+ groups. Russian oil and gas sales account for around a third of total state budget revenues and have been crucial for underpinning country's economy, which faces multiple sanctions from the West over the military conflict with Ukraine. Speaking at the Russian energy week forum, Putin praised cooperation with the BRICS group of countries, which Moscow sees as a counterbalance to the West, adding that Russia will continue cooperation with the OPEC+ oil producers. "Russia fulfils its obligations to supply energy resources to the global market. It plays a stabilising role in it by participating in such authoritative formats as OPEC+ and the forum of gas exporting countries," Putin said. "And we will certainly continue this cooperation with our partners." Putin also acknowledged difficulties in payments for Russian energy exports, for which "friendly" countries, which not introduced sanctions against Russia, account for 90%. He said that the government should renew the country's energy strategy in the next several months to address the challenges. Sign up here. https://www.reuters.com/business/energy/putin-lauds-cooperation-with-opec-brics-2024-09-26/

2024-09-26 11:45

NEW DELHI, Sept 26 (Reuters) - India is considering raising domestic prices of ethanol and sugar, the food minister said on Thursday, as the country seeks to boost local supplies. Reuters reported this month that India, the world's biggest sugar producer after Brazil, was planning to extend a sugar export ban and raise the price at which oil companies buy ethanol from sugar mills. Sign up here. https://www.reuters.com/markets/commodities/india-considering-raising-sugar-ethanol-prices-minister-says-2024-09-26/

2024-09-26 11:44

NEW DELHI, Sept 26 (Reuters) - India's Saatvik Solar is in talks with international lenders to fund its 22 billion rupees ($263 million) expansion plan over the next two years, its chief financial officer Abani Jha said on Thursday. The company, which owns 3.8 gigawatt (GW) solar modules capacity, plans to set up 2 GW solar cells manufacturing capability in the next two years, costing 20 billion rupees, he said. Saatvik Solar is in talks with international lenders such as French development agency Proparco and the Asian Development Bank, Jha said, adding that it will also seek partnerships with private equity funds. Saatvik Solar wants to double the solar cell making capacity by 2027, he said. The company would list its shares in the next few years, he said. An increasing number of Indian renewable energy-linked companies are looking to tap public markets to raise funds for their expansion projects and gain from booming stock markets. The government has set a target to add 500 GW of clean energy by 2030 to reduce carbon emissions. Between July and September, ACME Solar, PMEA Solar Tech Solutions and NTPC Green Energy filed draft papers with the Securities and Exchange Board of India for initial public offerings. Last week, state-owned Solar Energy Corporation of India announced plans to go public in the next one to two years. India's benchmark Nifty 50 index (.NSEI) , opens new tab has hit record highs over 50 times this year, with nearly 200 companies, including e-scooter maker Ola Electric OLAE.NS and telecom operator Bharti Hexacom (BHAX.NS) , opens new tab, raising billions. As of mid September, 235 companies had raised $8.66 billion, more than double in the same period last year, LSEG data showed. ($1 = 83.6700 Indian rupees) Sign up here. https://www.reuters.com/business/energy/indias-saatvik-solar-talks-with-international-lenders-expansion-2024-09-26/

2024-09-26 11:38

US weekly jobless claims slip; Q2 GDP unrevised Accenture gains after upbeat annual revenue forecast Miners jump after report of Chinese stimulus Indexes up: Dow 0.62%, S&P 500 0.4%, Nasdaq 0.6% Sept 26 (Reuters) - The S&P 500 scored a record closing high and the Dow and Nasdaq rose on Thursday, as Micron Technology (MU.O) , opens new tab shares rallied and a strong U.S. jobless claims report eased labor market concerns. Shares of Micron Technology (MU.O) , opens new tab rose 15.78% after the memory chip maker projected first-quarter revenue above expectations, highlighting strong demand for memory chips used in artificial intelligence computing. The broader Philadelphia SE Semiconductor index (.SOX) , opens new tab added 3.77% as most chip stocks rallied. A string of robust U.S. economic data eased concerns that the Federal Reserve may be cutting rates aggressively to curb any slowdown. Weekly jobless claims fell more than anticipated, signaling a steady labor market, while the final reading of gross domestic product confirmed that the economy grew 3% in the second quarter. "It (the GDP number) just kind of reinforces that strong economic growth backdrop that we have been seeing," said Mike Dickson, head of research at Horizon Investments in Charlotte, North Carolina. The benchmark S&P 500 (.SPX) , opens new tab closed up 23.11 points, or 0.40%, at 5,745.37, after rising to a record intraday high of 5,767.37. The blue-chip Dow Jones Industrial Average (.DJI) , opens new tab rose 260.36 points, or 0.62%, to 42,175.11. The Nasdaq Composite (.IXIC) , opens new tab advanced 108.09 points, or 0.60%, to 18,190.29. Seven of the 11 S&P 500 sectors climbed, led by materials (.SPLRCM) , opens new tab, which rose 1.97%. The S&P 500 and Dow have hit multiple record highs this year, while the tech-heavy Nasdaq is about 2% shy of its own milestone. Market rallies have been driven by optimism surrounding AI and expectations of lower interest rates. Metal prices got a boost after China pledged to deploy , opens new tab"necessary fiscal spending." Copper miners such as Freeport-McMoRan (FCX.N) , opens new tab gained 7.45%, while lithium miners including Albemarle (ALB.N) , opens new tab and Arcadium (ALTM.N) , opens new tab added 9.92%. "The story driving the market absolutely has to do with the Chinese stimulus and the announcement of the support that the government's willing to provide to help just boost consumer health there (and) reduce real estate pressures," Dickson added. However, energy stocks (.SPNY) , opens new tab lost 2%, tracking crude prices that slid on expectations of greater supply by the Organization of the Petroleum Exporting Countries. The Russell 2000 index tracking small caps (.RUT) , opens new tab outperformed the broader market with a 0.62% gain. Late on Wednesday, Fed Governor Adriana Kugler said she "strongly supported" the central bank's decision to kick off monetary policy easing last week. Investors have been swaying between a 25- and 50-basis point cut since the Fed commenced its easing cycle, with bets favoring a bigger cut now, up from 38.8% a week ago, the CME Group's FedWatch Tool showed. U.S.-listed Chinese firms such as Li Auto gained 7.13%, PDD Holdings advanced 13.28%, while Alibaba added 10.08%. Shares of Wells Fargo (WFC.N) , opens new tab gained 5.19% after a report showed the banking giant had sent the Fed a review for lifting asset cap restrictions. Southwest Airlines (LUV.N) , opens new tab gained 5.42% after the carrier raised its third-quarter revenue forecast, while Accenture (ACN.N) , opens new tab rose 5.57% after the IT services provider forecast annual revenue above estimates. Advancing issues outnumbered decliners by a 1.94-to-1 ratio on the NYSE. There were 626 new highs and 71 new lows on the NYSE. The S&P 500 posted 50 new 52-week highs and two new lows while the Nasdaq Composite recorded 95 new highs and 94 new lows. Volume on U.S. exchanges was 12.46 billion shares, compared with the 11.82 billion average for the full session over the last 20 trading days. Sign up here. https://www.reuters.com/markets/us/nasdaq-leads-wall-st-futures-higher-ai-optimism-after-microns-forecast-2024-09-26/