Beyond Financial News

Middle East could upend countries’ inflation and growth calculations, leading to a higher than expected inflation for India as well, according to Fitch Ratings. “Higher oil prices would lead to higher-than-expected inflation rates in 2024, followed by corrections in 2025.

Hamas's devastating attacks on October 7, Israel's intelligence ministry produced a chilling document. It advocated that Israel remove all of Gaza's Palestinian population and forcibly resettle them in the Egyptian Sinai Peninsula. In November, a poster advertising a far-right rally in Tel Aviv juxtaposed an image of two cherubic Jewish-Israeli children on a beach (presumably in a vision of a future Gaza) with the ominous policy prescriptions of “occupy, expel, settle”. Most worryingly, a cabinet minister suggested that Israel could use nuclear weapons against the Gaza Strip.

Stock market news: As Diwali 2023 is fast approaching, stock market experts and investors are busy finding out investment options that may generate alpha return in long term. For such retail investors mulling to make new investment on Diwali 2023 Muhurat trading, they are advised to know the levels of key benchmark indices or say Nifty 50 and BSE Sensex.

Consolidating debt: Personal loans offer the opportunity to consolidate high-interest debts, like credit card balances, into a single loan with a more favourable interest rate. This simplifies the repayment process and makes it more affordable. Emergency funding: Personal loans can be a lifeline for unexpected expenses such as medical bills, home repairs, or car repairs, providing quick and flexible financial support during emergencies.

Fitch Ratings predicts that higher-than-expected oil prices, stemming from potential disruptions in the Middle East's oil supply due to conflicts, could significantly impact global economic growth and lead to a surge in inflation. According to Fitch's Global Economic Outlook (GEO), a scenario with average oil prices of USD 75 per barrel in 2024 and USD 70 per barrel in 2025 could be upended if oil prices spike to USD 120 per barrel in 2024 and USD 100 per barrel in 2025 due to supply restrictions. The simulations, conducted using the Oxford Economics Global Economic Model, reveal a potential 0.4 percentage point (pp) reduction in world Gross domestic product (GDP) growth in 2024, with a lingering 0.1 pp lower growth in 2025. Despite the modest rebound anticipated in 2025, Fitch suggests a persistent moderate impact beyond the initial shock. The impact of higher oil prices would be felt across the board, with the absence of significant growth rebound in 2025 indicating a potentially longer-lasting effect on GDP levels in most countries. Notably, the negative growth impact in 2024 ranges from 0.1 pp in Indonesia to a substantial 0.9 pp in Korea, with the US, the Eurozone and Japan experiencing impacts of 0.5 pp. Emerging market countries like South Africa and Turkey would face significant impacts of 0.7 pp, while Russia and Brazil, owing to their reliance on oil production, would experience varied effects. The aggregate impact on the Fitch 20 suggests a global GDP growth shortfall of 0.4 pp in 2024 and 0.1 pp in 2025. Moreover, higher oil prices would lead to elevated inflation rates in 2024, with India, Turkey, and Poland experiencing the highest percentage point rises. Developed economies would witness more

anti-incumbency are key challenges for the Congress as it seeks to repeat its 2018 performance in the Surguja administrative division of Chhattisgarh in the ongoing assembly elections. In 2018, the party had swept all 14 seats in the region for the first time since the formation of the state, which gave its tally a considerable boost as it went on to win 68 out of the total 90 seats and oust the BJP from power after 15 years.

Gaza Strip, World Health Organization Director-General Tedros Adhanom Ghebreyesus told the United Nations Security Council on Friday, warning: «Nowhere and no one is safe.» He said that half of Gaza's 36 hospitals and two-thirds of its primary healthcare centers were not functioning and those that were operating were way beyond their capacities, describing the healthcare system as being «on its knees.» «Hospital corridors crammed with the injured, the sick, the dying. Morgues overflowing. Surgery without anesthesia.

This is in stark contrast to one of the toughest placement seasons in recent memory faced by students at the country's top B-schools and engineering institutes as the technology sector — the biggest recruiter of white-collar talent — has cut fresher hiring amid macroeconomic uncertainty.

A number of altcoins bankrolled by recently convicted FTX founder, Sam Bankman-Fried, appropriately dubbed “Sam coins,” have continued to rally this week ahead of his potential March trial.

Digital Currency Group’s (DCG) subsidiary Genesis Global is seeking approval from the US court to revise its settlement agreement with the bankrupt Three Arrows Capital Ltd (3AC).

Jewish billionaire and philanthropist Henry Swieca has resigned from the Columbia University board of directors. His decision to step down is in response to events on campus, including a violent attack on an Israeli student and numerous pro-Hamas demonstrations.

Marine Corps Birthday is an American holiday that is celebrated on November 10 every year with great zeal. On this day, a traditional ball and cake-cutting ceremony takes place. Further, the day commemorates the birth of the United States Marine Corps. In order to augment naval forces in the Revolutionary War, the United States Marine Corps was established on November 10, 1775. The Continental Marines played a vital role in the war as they participated in many key battles including the Battle of Trenton and the Battle of Yorktown.

Higher interest rates and inflation have pushed household budgets to beyond their limits, forcing many American consumers to take on more debt.

A $290 million settlement between JPMorgan Chase & Co. and victims of Jeffrey Epstein was approved by a federal judge, who rejected a last-minute challenge from a group of state attorneys general that could have delayed the payout to almost 200 victims. 

Employees’ Provident Fund Organisation (EPFO) has initiated the process of crediting interest to provident fund (PF) accounts for the financial year 2022-23, offering an interest rate of 8.15 percent. This marks the highest interest rate on PF accounts in more than four decades. The interest rate set by the EPFO for the financial year 2022-23 represents a notable uptick from the 7.59 percent interest rate provided in the preceding financial year.

Programmable payments allows users to branch out beyond the limitations and rules applied to their transactions, accessible through a new portal on JP Morgan Payment’s online treasury portal, JPM ACCESS.

A boom in private credit has been moving a huge portion of corporate borrowing away from public view, taking it from the world of banks and the bond market and into the more opaque realm of private funds. Now analysts are piecing together clues showing how risky those loans might be. A recent analysis by S&P Global Ratings used the firm’s confidential credit assessments for clients to offer a rare view of roughly 2,000 private corporate borrowers with more than $400 billion in debt between them.

air purifier emerges as a knight in shining armour, ready to defend our indoor sanctuaries. These devices come in various types, from HEPA filters to activated carbon filters and UV purifiers, each tailored to combat specific pollutants. Bringing an air purifier into your home isn't just a convenience; it's a proactive stance, a commitment to the well-being of your nearest and dearest.

When it comes to making payments a credit card is probably one of the most consumer-friendly options. It offers several benefits ranging from convenient and secure payments to instant credit and added benefits such as discounts and cashback, all instantly, in a single swipe of your card.

Polyplex Corporation's share price. The really unlucky ones, who bought the stock in April 2022, are currently sitting on a huge nominal loss of about 62%. Back then the stock was trading around its all-time high of ₹2,813.After an impressive surge of over 40% in the first half of 2022, it has been all downhill for the stock.

Raamdeo Agrawal, Chairman, Motilal Oswal Group, says “there is a long-term trend to allocate more for defence, and these defence companies are monopolistic, though they are public sector. So there is a little bit of challenge but there are well-run public sector, monopolistic, high return on capital companies and all and their dividend policy is better than private sector’s. You have an opportunity there. But you have to be a little bit more careful where the action is. So, you have to decide company-wise.” This year our theme for Diwali is Yeh Diwali Muskaan Wali. Looking back, do you have a smile on your face on how the year has been? Yes, we have forgotten Covid because there is so much smile.