WION’s Business Desk brings you this daily round up of global stories from the world of business and economy.
IndiGo’s expansion plans face hurdles amid Pratt & Whitney engine troubles
India’s largest airline, IndiGo, remains committed to its capacity growth projections for the year, even as it anticipates grounding of over 30 planes in the fourth quarter due to ongoing concerns with its Pratt & Whitney (P&W) engines.
Singapore Airlines achieves record half-year profit amid surging air travel demand
Singapore Airlines reported record-breaking half-year profits on Tuesday, indicating the resurgence of travel demand, particularly to Northern Asia, as countries have fully reopened post the Covid-19 pandemic.
Global banking chiefs warn of geopolitical uncertainty and regulatory concerns
Top leaders from global banking institutions on Tuesday expressed their apprehension that the next financial crisis could originate from escalating geopolitical tensions and the persistent spectre of regulatory tightening.
Nintendo raises profit outlook as Nintendo Switch remains a gaming force
Japanese gaming giant Nintendo has raised its operating profit forecast for the financial year ending in March 2024 by 11 per cent, projecting a figure of 500 billion yen (approximately $3.32 billion). This increase is attributed to the appeal of its ageing Switch console.
IMF raises China’s 2023 and 2024 growth forecasts amid post-Covid recovery
The International Monetary Fund (IMF) on Tuesday upgraded its growth forecasts for China, indicating that the country’s economy is set to expand by 5.4 per cent this year, reflecting a robust post-Covid recovery.
Oil prices tumble over 4pc to its lowest level since July. Here’s why
Oil prices experienced a substantial drop of more than 4 per cent on Tuesday, hitting their lowest point since late July. Brent crude futures closed below the $84 per barrel mark for the first time since the October 7 attack by Hamas Islamists on Israel.
Sipping with sorrow: Wine output drops to 1961 levels
The International Organisation of Vine and Wine (OIV) has predicted a 7% drop in global wine production in 2023, taking it to a level not seen since 1961.
