India’s Adani Group is reportedly in talks to expand into e-commerce and payments
February 9, 2023 Adani Group logo. A huge win is about $7 a day.
Indiram Aditya | Bloomberg | Getty Images
Adani India The group is in talks to expand into the country’s e-commerce and payments sectors Financial Times Tuesday’s report quoted four people familiar with the matter.
It will compete with similar Google In payments and India Reliance Industries On the e-commerce front, the port-to-retail group is expanding its operations in the world’s most populous country.
According to the Financial Times, Adani may apply for a license to operate on India’s public digital payments platform Unified Payments Interface (UPI) and is also in talks with banks to finalize a previously announced Adani co-branded credit card plan .
According to the Financial Times, Adani is also negotiating to provide online shopping services through the Digital Commerce Open Network, a public e-commerce platform supported by the Indian government.
In addition, Adani Group will launch several road shows this week to raise up to US$4 billion through equity and refinancing of old debt. According to Business Standard reports, citing banking sources.
—Shreyashi Sanyal, Financial Times
Australian retail sales edged up in April, but fell short of expectations
Australian Bureau of Statistics data shows retail sales rising Quarterly growth of 0.1% in Apriladjusted for seasonality.
The reading was lower than the 0.2% growth predicted by a Reuters poll. Retail sales in April increased by 1.3% compared with the same period last year.
Ben Dorber, head of retail statistics, said: “Underlying retail spending continues to be weak, with turnover rising slightly in April but not enough to make up for the decline in March.” In the Australian Bureau of Statistics.
“Trend retail turnover has been flat since the start of 2024 as cautious consumers reduce discretionary spending,” Dauber added.
—Shreyash Sanyal
Japan’s service sector producer price index hits fastest rise since March 2015
Japan Services Producer Price Index The annual increase of 2.8% in April was the fastest in nine years and provided the Bank of Japan with another indicator of persistent inflation.
PPI in March was higher than the revised 2.4%, rising for the second consecutive month.
The Services PPI measures the average change in prices received by domestic producers.
— Lim Hui Jie
Stocks higher on Monday
Here’s how futures opened Monday night:
- Futures tied to the Dow Jones Industrial Average rose 57 points, or 0.1%.
- S&P futures rose 0.2%.
- Nasdaq 100 futures edged up 0.3%
— Pia Singh
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