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Tata to Launch 20 "Beauty Tech" Stores in India

India's Tata Group is planning to open at least 20 "beauty tech" stores where it will use virtual makeup kiosks and digital skin tests to convince young, wealthy customers to buy high-end cosmetic products, according to a company document and a person familiar with its strategy.

The move pits LVMH's Sephora and domestic rival Nykaa against Tata, whose businesses range from jewelry to automobiles, for a piece of the rapidly expanding $16 billion beauty and personal care market in the second-most populous nation on earth.


Housing prices in South Korea plummeted at the fastest rate in at least 19 years in October, fueling speculation that the country's central bank will slow the pace of interest rate hikes in the coming weeks. According to the Korea Real Estate Board, apartment prices in South Korea fell 1.20% month on month in October, marking the largest monthly drop since the data series began in November 2003 as rising mortgage rates continue to dampen demand.

Former President Donald Trump's entry into the 2024 presidential race on Tuesday confirmed the world's "worst kept secret" and added another variable for markets that some investors say is still a low priority for the time being. Trump who has been scrutinizing the American voting system since his 2020 election defeat, announced his candidacy at his Mar-a-Lago estate in Florida, ostensibly to pre-empt potential Republican rivals.


The dollar stabilized on Wednesday morning after experiencing recent losses as investors sought safety in the greenback. The majority of Asian currencies fell as investors fled risky assets in response to a potential Russian missile strike on Poland. The Dollar Index, which tracks the greenback against a basket of six other currencies, inched higher by 0.02% to 106.310.


Gold prices reached a three-month high on Wednesday, after a Russian missile strike on Polish territory fueled fears of a NATO-led escalation in the Ukraine conflict, boosting demand for traditional safe haven assets. Gold prices fell by 0.03% to $1,776 per ounce.


Oil prices fell on Wednesday as COVID-19 cases in China increased, raising concerns about lower fuel demand in the world's top crude importer, which outweighed concerns about an escalation of geopolitical tensions and tighter oil supply. Brent crude futures slid by 0.67% to $93.23 a barrel, while West Texas Intermediate crude fell by 0.81% to $86.22 a barrel.


USA: S&P500 +0.87%, Dow Jones Industrial Average +0.17%, Nasdaq Composite +1.45%

Europe: FTSE 100 -0.21%, DAX +0.46%, CAC 40 +0.49%

Asia: Nikkei 225 +0.14%, Hang Seng -1.10%, CSI 300 -0.82%, Nifty 50 +0.03%


IPO of Saudi Aramco's Luberef to Raise up to $1.32 Billion

The base oil division of Saudi Arabia's Aramco expects to raise up to 4.95 billion riyals ($1.32 billion) from its IPO, according to a statement released on Sunday.

According to a statement from Luberef, the company will sell 50.045 million shares, or close to 30% of its issued share capital, for a price ranging between 91 and 99 riyals each.

In stark contrast to the United States and Europe where global banks have been reducing headcount in a dealmaking drought, state-led IPO programs in Saudi Arabia, Abu Dhabi, and Dubai have held equity capital markets in the gulf region.

Amazon to Restart Advertising on Twitter

According to a Platformer report, e-commerce giant Amazon intends to restart advertising on Twitter at a cost of about $100 million per year, subject to some security adjustments to the social media company's ad platform.

Elon Musk, the CEO of Twitter, also claimed that Apple has resumed running advertisements on the service, according to a Bloomberg report, which cited remarks made on Saturday during a Twitter Spaces conversation.

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