Compilation Financial News

You can already feel the nip in the air. The festival of Diwali is fast approaching and you can already sense a feeling of celebration in the air. With this festival being one of the most luminous and in line with many other festivals synonymous with happiness, wealth, and prosperity, many millennial investors sense a strong urge to spend money on things or resort to frivolous spending.

EA YONG, Vietnam—In the verdant highlands of central Vietnam, warehouses the size of airplane hangars dominate small farming towns, bristling with mounds of tropical fruit. The bounty is destined for a colossal market: China. Farmers are felling coffee trees traditionally grown in this cool hilly region to plant spiky durians, pungent fruits that have become wildly popular in China.

Michael Burry, Rakesh Jhunjhunwala, Charlie Munger, and more who had never attended B-Schools in their lives. Mohnish Pabrai is one of them. This Indian-American businessman and investor is the founder and Managing Partner of the Pabrai Investments Funds while managing Dhandho Funds too.

By Naomi Rovnick and Marc Jones

Gold has served as a safety net during times of financial distress. The concept of gold loans, known as loan against gold, has gained substantial prominence, offering a secure and accessible method for individuals to avail funds. Gold is not only a symbol of wealth but also a form of investment, gifting, and security. Gold is traditionally passed down through generations, and many families have substantial reserves of this precious metal.

Qatar Investment Authority is examining opportunities to invest in China's retail, healthcare, tech and logistics sectors, said Abdulla Al-Kuwari, head of the fund's unit Qatar Investment Authority Advisory (Asia Pacific). Those opportunities could involve public and private companies, Al-Kuwari said on Thursday during the Caixin Summit in Beijing.

In an exciting development, Bloomberg ETF research analysts, Eric Balchunas and James Seyffart, unveiled data showing an eight-day long window wherein the Securities and Exchange Commission (S.E.C) could approve all 12 spot Bitcoin ETF applicants beginning as soon as tomorrow. 

₹3.52 trillion by the end of FY23, according to the Bharat Microfinance Report 2023. The report released by industry body Sa-Dhan on the inaugural day of the National Conference on Inclusive Growth attributed the growth to a favourable economic environment and the revised regulatory framework issued by the RBI and quickly adopted by all MFIs. The report compiled data from 213 microfinance institutions (MFIs) representing more than 99% MFI activities in the country.

Ivanka Trump began testifying on Wednesday in the the civil fraud trial that is publicly probing the Trump family business, making an appearance she tried to prevent. Ex-President Donald Trump's elder daughter, who has been in his inner circle in both business and politics, rounds out a major stretch in the trial. Her father gave caustic testimony on Monday, and her brothers Eric Trump and Donald Trump Jr.

UBS Group AG has begun the sale of hotly-anticipated additional tier 1 bonds, marking its first issuance of the securities since Credit Suisse’s writedown of about $17 billion of the debt.

It's Ivanka Trump's turn to take the witness stand in the civil fraud trial that is publicly probing into former President Donald Trump's family business

China is owed more than a trillion dollars through its Belt and Road project, making it the biggest debt collector in the world, a report said this week, with an estimated 80 percent of the loans supporting countries in financial distress. Beijing says upwards of 150 countries stretching from Uruguay to Sri Lanka have signed up to the BRI, a vast global infrastructure push unveiled by President Xi Jinping a decade ago. The first decade of the initiative saw China distribute huge loans to fund the construction of bridges, ports and highways in low and middle-income countries. But much more than half of those loans have now entered their principal repayment period, said a report released Monday by AidData, a research institute tracking development finance at Virginia's College of William and Mary. That figure is set to hit 75 percent by the end of the decade, it added. Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid and credit «hovering around $80 billion a year» to low and middle-income nations. The United States, in contrast, has provided $60 billion to such countries a year. «Beijing is navigating an unfamiliar and uncomfortable role — as the world's largest official debt collector,» the report said.

benchmark NSE Nifty 50 Index has climbed in the six months leading to the vote in each of the past five elections, posting an average 16 percent return during the period, data compiled by Bloomberg show. Gains in the three months after the polls have averaged more than 3 percent. Prime Minister Narendra Modi faces a test in five state polls this month before the nationwide contest in the summer of 2024.

Credit Suisse began compiling estimates of wealth inequality across the globe after the 2008 global financial crash. Its 2023 report combines data from surveys, financial accounts, regulatory information and rich lists to rank countries based on wealth inequality. As in other years, India stands out as a country with an exceptionally high concentration of wealth.

Instagram users are now reveling in a similar feature that encapsulates their entire year on the platform. Instagram Wrapped provides an engaging summary of a user's social media activity, including details on top friends, popular content, and even insights into followers' engagement.

Analysts at most brokerages retained their share price targets on State Bank of India, after the lender's second quarter results beat market estimates. The stock, however, slid 0.7% to ₹573.95 in a firm market on Monday. The average price target on State Bank of India of all analysts compiled by Bloomberg following the second quarter results is at ₹715.11, implying an upside of 24.5% over Monday's closing. Jefferies said SBI is one of the best PSU bank franchises, with a strong current account savings account (CASA) franchise and digital-banking platform.

A Los Angeles gallery installation offers a unique art-meets-data look at the eviction crisis in the Venice Beach neighborhood

Any year-end rally in stocks could prove short-lived because equities don’t fully reflect the outlook for rates remaining higher for longer, according to Jean Boivin, who heads the research arm at BlackRock Inc.

Bankers servicing one of the world’s biggest ESG debt markets are now actively seeking legal protections to guard against the potential greenwashing allegations that may be ahead.In the handful of years they’ve existed, sustainability-linked loans have mushroomed into a $1.5 trillion market. SLLs let borrowers and lenders say that a loan is tied to some environmental or social metric.

LONDON (Reuters) — The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed on Monday, suggesting there is a growing chance of a recession in the 20-country currency union.

Southeast Asia's largest lender DBS Group reported a 17% jump in third-quarter profit on Monday, benefiting from a high-interest rate environment.