Country Financial News

By Tetsushi Kajimoto

By Paul Carsten

By Phuong Nguyen

Investing.com — Most Asian currencies moved little on Friday as traders positioned for a potentially softer U.S. nonfarm payrolls reading, while the yen sat near a four-month high to the dollar tracking hawkish signals from the Bank of Japan. 

Investing.com — Markets are focusing in on the impending publication of the November U.S. nonfarm payroll report, a highly-anticipated data point that may shed more light on the state of the American labor market and serve as a signpost for the Federal Reserve's future policy choices. Elsewhere, Apple (NASDAQ:AAPL) and its suppliers are reportedly aiming to move a quarter of global iPhone production to India, as the tech giant looks to reduce its reliance on China during a time of strained relations between the U.S. and Beijing.

From trade to human rights, the leaders of China and the European Union differed on a wide range of issues at a summit this week in the Chinese capital

President Joe Biden is heading to Las Vegas to showcase $8.2 billion in funding for 10 major passenger rail projects across the country

India has a two-to-three year window to capitalise on the global strategy of de-risking from China and the government must come up with a set of policies and programs that make doing business and shifting to India not just attractive but easier also, NITI Aayog vice chairman BVR Subrahmanyam said. “In the next 15 to 20 year time span, India has an opportunity in manufacturing. But the opportunity and the window for India is at best two to three years because supply chains are unwinding, becoming short term and looking for new geographies.

Narendra Modi while inaugurating the Uttarakhand Global Investors Summit on Thursday said that the country must focus now on Vocal for local and Local for Global. Speaking at the event, PM Modi said "India's special development has happened in the last few years. There was a population of the country that was deprived of everything. Now, due to the government's schemes, more than 13 crore people have come out of poverty in just 5 years.

Sebi) chairperson Madhabi Puri Buch on Friday said the inclusion of Indian sovereign bonds in the global indices would not just help the government raise resources but also deepen the country’s corporate bond market. Speaking at the industry body CII’s Global Economic Policy Forum event in the capital, Buch said: “This is hugely important for us as a country, not only because it will help the government raise resources, but once the Indian yield curve is established globally, on the back of that, the corporate bond market can also get a lot of traction, and a lot of interest from foreign investors.” “And so we are hoping that down the line, it will be a case of my name is bond. Indian bond,” she added. Finance minister Nirmala Sitharaman had in October said JPMorgan’s decision to include Indian government bonds in its widely tracked emerging market debt index could potentially lead to annual inflows of about $23 billion into the country. JPMorgan will start adding the securities from June 28, 2024 and India will have a maximum weight of 10% on the index. Same-day settlement Buch said Sebi wants to introduce the same-day settlement of trades on the bourses--or the T-plus zero regime--by the end of this fiscal year. The capital markets regulator also aims to move towards the instantaneous settlement regime within 12 months after that.

The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% in its December Monetary policy which is also its last for 2023. While retaining its stance of withdrawal of accommodation, the Central Bank's decision to leave rates unchanged was unanimously voted by the 6-member MPC panel, while the need to retain the stance was voted by 5 out of 6 members. While the policy was pretty much in line with the Street's expectations, here is how experts reacted to Governor Shaktikanta's monetary policy speech: Santosh Meena, Head of Research, Swastika Investmart In response to RBI policy decision and Das' confidence in economic growth, our market continues its bullish momentum, with the Nifty reaching a significant milestone of 21,000.

NCP rival faction chief and fellow Deputy CM Ajit Pawar, opposing Nawab Malik's induction into the ruling alliance in the state, Nationalist Congress Party (NCP) MP Supriya Sule said that what BJP did to Nawab Malik was wrong and Court would do justice «What BJP did to Nawab Malik is wrong...Nawab Malik fought against the drug mafia. BJP has become the 'Bhrasht Jumla Party' and Nawab Malik continued to expose them...Everybody is innocent till they are proven guilty.

carbon tax on certain imported goods, Commerce and Industry Minister Piyush Goyal on Friday said, adding that «I will retaliate» if required. The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026. However, from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, will have to share data with regard to carbon emissions with the EU. «Bharat will address the problem of CBAM with confidence, and we will find solutions.

Trinamool Congress leader in Lok Sabha Sudip Bandyopadhyay Friday described the Ethics Committee's recommendation to expel party MP Mahua Moitra in a «cash-for-query» allegation as «political vendetta» and claimed that it was aimed at stopping her from raising issues against the Adani Group. Bandyopadhyay said he had a one-on-one meeting with Lok Sabha Speaker Om Birla, who informed him that the report would be tabled along with a resolution.

Inflation’s “volatility’” is keeping the Bank of Canada cautious about the future path for interest rate decisions, according to a senior central bank official.

Government suspends 70 lakh mobile numbers. Here's what you should know The lawyer said Patel used 99% of the Jaguars' funds were used for betting on the FanDuel and DraftKings sites.

RBI) Monetary Policy Committee (MPC) projects CPI inflation at 5.4 percent in 2023-24 (FY24), unchanged from earlier. For Q3FY24 (September-December), the projection has been slightly lowered to 5.4 percent from 5.6 percent. The forecast for Q4FY24 (January - March) remains unchanged at 5.2 percent.

The Reserve Bank of India left the inflation aim unchanged at 5.4%. In the August policy, the RBI had raised its FY24 inflation forecast to 5.4% from 5.1%. The Reserve Bank of India's (RBI) Monetary Policy Committee unanimously decided to keep the repo rate- key lending rate- unchanged at 6.5% for the fifth time in a row.

Amnish Aggarwal, Head-Research, Prabhudas Lilladher, says “there are some sectors or stocks that represent the multi-year trends; one clearly is capital goods which benefits from the recent state elections results as the uncertainty with regards to the next Lok Sabha elections has got reduced. So the capital goods companies, whether they are on the engineering side, railway side, defence should continue to do well. We like Siemens Hindustan, Aeronautics, and Carborundum looks good. The entire capital goods is one pack which looks very interesting to us. ” What is your view on HUL and the rest of the FMCG players like ITC? Do you think in terms of the sector churn that we are seeing, the FMCG companies will not be in those top three, top four bets that investors would be looking at actively? We have been having an underperformer in our model portfolio.

The Reserve Bank of India (RBI) commenced its three-day Monetary Policy Committee (MPC) meeting on December 6, 2023. The committee’s verdict on the crucial policy rates is eagerly awaited and is scheduled to be disclosed on December 8, 2023.

Liechtenstein, died “unexpectedly” at the age of 51 on Tuesday.The Princely House of Liechtenstein announced the sudden passing in a statement Wednesday. The cause of death was not revealed.Prince Constantin was seventh in line for the throne.The prince’s eldest brother, Hereditary Prince Alois, is first in line to succeed their father Hans-Adam II, the reigning Prince of Liechtenstein.