China is slowing and Western governments increasingly see it as a rival rather than an economic partner. On its southwestern border, another rising economy is vying to take its place as the world’s next growth driver.
India’s stock market is booming, foreign investment is flooding in and governments are lining up to sign new trade deals …

Ethiopia looks set to miss an interest payment due later on Monday on its December 2024 dollar bond, becoming the latest emerging-market sovereign to default on debt.
The country’s finance ministry said on Friday, it was “not in a position to pay” the $33 million coupon because of the nation’s “fragile external position.” It added that “restricted discussions” it had held with a group of bondholders …

Russia and Iran are building a new transcontinental trade route stretching from the eastern edge of Europe to the Indian Ocean, a 3,000–kilometer (1,860–mile) passage that’s beyond the reach of any foreign intervention.
The two countries are spending billions of dollars to speed up delivery of cargos along rivers and railways linked by the Caspian Sea. Ship–tracking data compiled by Bloomberg show dozens of Russian and Iranian …

Warren Buffett’s Berkshire Hathaway Inc. took a stake of about $5 billion in Taiwan Semiconductor Manufacturing Co., a sign the legendary investor thinks the world’s leading chipmaker has bottomed out after a selloff of more than $250 billion. Shares surged.
The Omaha-based conglomerate acquired about 60 million American depository receipts in TSMC in the three months ended September, it said in a filing. The Taiwanese company produces semiconductors for clients …

India will need to invest over $10 billion in cell manufacturing by 2030 as it seeks to accelerate the shift to electric vehicles, according to a report by Arthur D. Little released Wednesday.
Increasing cellmaking capacity is crucial for India to meet its demand for lithium-ion batteries, which will increase from 3 gigawatt-hour currently to 20 gigawatt-hour by 2030, Arthur D. Little estimates. The lack of local production is forcing India to import 70% of its lithium-ion cell requirement from China …

Some things never change. The battle between Hong Kong and Singapore to attract global business talent might just be one of them.
Five years after Bloomberg first created its guide for expatriates considering which of the two cities to live and work in, here’s a fresh look at some of the key factors in this long-running rivalry. It’s been a period of seismic upheavals. The Covid-19 pandemic upended …

Iran’s state-run shipping company said it started its first transfer of Russian goods to India, using a new trade corridor that transits the Islamic Republic, an Iranian port official said.
The Russian cargo consists of two 40-foot (12.192 meters) containers of wood laminate sheets, weighing 41 tons, that departed St. Petersburg for the Caspian Sea port city of Astrakhan, the state-run Islamic Republic News Agency said on Saturday, citing Dariush …

Russia has offered India a dual-payment mechanism to allow more trade in local currencies as pressure mounts on the sanction-hit nation over its war in Ukraine, according to people with knowledge of the matter …