Economy Financial News

Stating that financials as a sector and banks specifically offer better risk reward opportunity, Chandraprakash Padiyar, Senior Fund Manager, Tata Asset Management, says given the positive regulatory environment for banks in terms of early warning, asset quality will remain strong over cycle enabling higher growth in credit and ROE, leading to better valuations. «We see ingredients in place for a positive next few years for the market with the largecap segment doing better than midcap and smallcaps,» he says. Edited excerpts from a chat:

Chinese economy looks like it is taking a major hit from certain provinces, that is making their possibilities of finishing on a high, even more difficult. The economic slowdown in China is slowly becoming a harsh reality, with the Asian country seeing five provinces going through a sharp downswing effect in recent days, with Tibet and Jilin taking centerstage in this doomsday scenario, according to a Bloomberg report.

Saphyre Vice Chairman Wolfgang Koester details his excitement around the fin-tech sector, looks ahead to this weeks earnings and previews the October jobs report.

Gold imports are surging to cater to festive demand and have been added by sharp duty cuts in this year's budget. Central banks, including RBI, are also propping up demand for gold as they bulk up reserves in an effort to diversify their reserves. The metal is still serving as a safe haven, with economic data from advanced economies not offering investors clarity on the extent of economic slowdown.

U.S. job openings tumbled last month to their lowest level since January 2021, a sign that the labor market is losing some momentum

American consumers are feeling quite a bit more confident this month as Election Day approaches, a business research group says

ByteDance founder Zhang Yiming tops the list of China’s richest people, according to the Hurun Research Institute, although many of them have seen their net worth plunge over the past year

While the Bank of Canada’s interest rate cut last week may be seen by some as good news, it points to worrisome underlying problems.

More than half of generation Z and millennials are planning to buy a home within the next five years, despite housing market challenges and an apparent decline in young homeowners, according to the latest Scotiabank Housing Poll.

The Canadian dollar is at risk of falling to lows only seen during big economic shocks as forces once again line up against the currency, economists warn.

Also Read :Message for Ben Affleck? Here's Jennifer Lopez's revenge look for Unstoppable Premiere

Deepti Sharma has been rewarded for her excellent recent form as she moved up two places to reach career-high second spot in the latest ICC women's ODI rankings for bowlers on Tuesday. On the back of some strong performances in the recent ICC Women's T20 World Cup in the UAE, Deepti has been one of India's best players through the opening two matches of her side's ongoing white-ball series against New Zealand at home. Deepti has three wickets from two matches against the White Ferns at a miserly economy rate of 3.42. It has seen Deepti gain two places to move to second on the table, and the senior India spinner has closed in on England tweaker and No.1 ranked ODI bowler Sophie Ecclestone.

biogas sector is rapidly emerging as a key player in the global renewable energy landscape as energy demands rise in emerging economies such as India. The urgent need to address climate change, enhance energy security and promote sustainable development also makes biogas an attractive option. Modern biogas technology significantly uplifts rural communities by creating economic opportunities and enhancing self-sufficiency, says Piyush Sohani, Country Director-India, Sistema.bio, in an interaction with ET Digital. The implementation of biogas projects generates jobs and allows farmers to sell excess biofertiliser, diversifying their income streams, he adds. Edited excerpts: The Economic Times (ET): What is the current standing of the biogas sector in the global renewable energy market. What are its projections, especially in emerging economies like India? Piyush Sohani (PS): The biogas sector is rapidly emerging as a key player in the global renewable energy landscape, projected to grow at a compound annual growth rate (CAGR) of approximately 5.2% from 2020 to 2030. This trajectory could elevate the market size to around $86.7 billion by 2030.

Subscribe to enjoy similar stories. The world needs an effective International Monetary Fund (IMF). Countries have become hugely indebted after the covid pandemic, and the risk of new shocks grows as the world warms and new pathogens emerge.

Asian shares mostly rose after U.S. stocks closed broadly higher with gains in Big Tech companies offsetting a skid in oil-and-gas stocks

startup ecosystem, the strength of its digital economy and the proliferation of the world’s largest global capability centres (GCCs) in the country will position India as one of the top three artificial intelligence (AI) economies globally, said Shanker Trivedi, senior vice president of enterprise business at Nvidia, the world’s largest chip maker, in conversation with Himanshi Lohchab & Surabhi Agarwal. “India has unique characteristics. Some other regions are still a fragmented market. But India has always been one market with one currency, even while multiple cultures exist,” he told ET in an exclusive interview. “Even the market in Nagaland is bigger, I can assure you, than some other nations. And I bet you, there’s somebody in Kohima right now planning a startup using this amazing infrastructure and platform,” said Trivedi, who has helmed Nvidia’s enterprise business for 15 years and is now a key member of chief executive Jensen Huang’s core team.

British Prime Minister Keir Starmer says fixing Britain’s troubled economy will be a long haul in a “harsh” fiscal environment

A port in Vizhinjam was one of former Kerala CM Oommen Chandy's dreams. Multiple governments attempted to construct a port in the PPP mode but failed. IFC, which was roped in to prepare a report, pointed out that the project would not be viable on a standalone basis without substantial government funding of 85% of the cost. Even though the project was financially unviable, both CPI(M)-led and Congress-led political formations were intent on developing the port. They both knew it had the potential to change the economic landscape of Kerala. Planning Commission's help was sought.

Subscribe to enjoy similar stories. Treasury Secretary Janet Yellen warned that the West Bank’s economy could collapse if Israel doesn’t preserve its banking relationship with Palestinian financial institutions in the territory it occupies, highlighting another potential source of instability as Israel also fights foes in Gaza, Lebanon and Iran. In a letter to Prime Minister Benjamin Netanyahu, Yellen and several of her global counterparts urged the Israeli leader’s government to approve a waiver that would continue to allow Palestinian and Israeli banks to correspond.

Jim Rogers has said. Rogers, who co-founded the famed Quantum fund with billionaire George Soros in the 1970s, told MarketWatch in a recent interview that history would suggest that a recession is imminent. He believes “America’s never gone this long without a recession in its history,” and it’s “overdue” for more economic problems. “I do know there’s going to be a recession again, and I do know it’s going to be extremely bad.” If the economy turns sour, Rogers believes gold and silver will do well, along with commodities in general. Amid this prediction, Jim Rogers also has an investing advice.

Nomura on Monday said the Indian economy has entered a phase of "cyclical growth slowdown" and the Reserve Bank's estimate of 7.2 per cent GDP expansion is «overly optimistic». The brokerage said it sees «rising downside risks» to its GDP growth estimates of 6.7 per cent in the ongoing FY25 and 6.8 per cent in FY26. «We believe India's economy has entered a cyclical growth slowdown. Coincident and leading growth indicators point to a further moderation in GDP growth and the RBI's forecast of 7.2 per cent for FY25 is overly optimistic,» the brokerage said in a note. The RBI maintained its FY25 growth estimate at 7.2 per cent earlier this month, even as some watchers have been coming out with lower numbers.