Economy Financial News

Investing.com — European stock markets fell Monday, continuing the losses seen in Asia overnight after Friday's weakness on Wall Street, ahead of the release of key U.S. inflation data.

(Reuters) -Bitcoin is back in the headlines, having roared to a new record high, just as many of the world's major central banks are starting to pave the way towards cutting interest rates, but only if inflation behaves.

By Abraham Achirga and Seun Sanni

Ashish Gupta, CIO, Axis Mutual Fund, says “we have seen a big deleveraging of the corporate balance sheet and the expectation is that the next five-seven years will again be a deleveraging cycle for corporate India. We are still in the early part of the capex upcycle. So while multiples of some of these companies have gone up, the confidence stems from the fact that it is a multi-year cycle. Typically, these cycles last for seven-eight years. We are probably in the first couple of years of the upturn. Notwithstanding the elections, just the capex cycle has turned around and should benefit these companies.”

NEW DELHI : New Delhi: India's economic performance is better than what the headline numbers reveal, with the sharp GDP growth coming amid challenging global macroeconomic conditions, Sanjeev Sanyal, member of Prime Minister Narendra Modi’s Economic Advisory Council, told Mint in an interview. India's higher-than-expected growth of 8.4% during the third quarter of fiscal 2023-24 came without accompanying macroeconomic stresses, he added. Edited excerpts: The latest reading of an 8%-plus growth rate exceeds even the government's expectations.

BEIJING — China's struggling real estate developers won't be getting a major bailout, Chinese authorities have indicated, warning that those who «harm the interests of the masses» will be punished.

TEL AVIV—The last email Israeli tech executive Itamar Ben Hemo sent before a bullet ripped through his ribs, diaphragm and intestine was a note to a colleague. Ben Hemo wanted to know how close the startup he founded was to signing on a new client.For weeks, Ben Hemo—an Israeli army reservist who returned to active duty after Hamas’s deadly Oct. 7 attack on southern Israel—had been using breaks in combat to fire up his laptop, messaging investors and working on making his next sales.

Gold And Silver Prices Today: Gold prices experienced a slight increase on Monday. The price of 24 carat gold is Rs.6631.9 per gram, up by Rs.65.0. The price of 22 carat gold is Rs.6074.8 per gram, up by Rs.59.0.

invasion of Ukraine, Russia’s economy has repeatedly defied the doomsayers. A financial collapse, widely predicted in the spring of 2022, never came to pass. The economy fell into recession, but it was less severe than expected and did not last long.

Pranay Karkale is spending years of savings and $60,000 in student loans to pursue a master’s degree in the United States, yet he considers himself lucky. At home in India, it’s common to hear about families selling off their land to send children to universities overseas. Karkale was willing to do whatever it took once he got into Johns Hopkins University. A degree from a prestigious U.S. college, he believed, would open doors to a better job and higher pay than he would find in India.

Investing.com-- Japanese stocks fell sharply on Monday, while the yen hovered near one-month highs as media reports suggested the Bank of Japan could end its yield curve control policies by as soon as next week.

Investing.com-- Most Asian stocks fell on Monday, tracking a weak lead-in from Wall Street as anticipation of key U.S. inflation data kept markets on edge, while Japanese shares fell sharply amid growing conviction that the Bank of Japan will raise interest rates soon.

technical recession, revised government GDP data showed on Monday, even though the upward change in the fourth quarter was weaker than expected and highlighted concerns about the sluggish economic recovery. Japan's revised gross domestic product (GDP) expanded at an annualised clip of 0.4% in the October-December period from the previous quarter, better than the initial estimate for a 0.4% contraction, according to the Cabinet Office.

Sensex gained 33.40 points, or 0.05%, to close at 74,119.39, while the Nifty 50 settled 19.50 points, or 0.09%, higher at 22,493.55. Market participants will now look out for several stock market triggers as the focus will shift to crucial economic data, such as inflation data releases from both India and the US, electoral announcements ahead of General Elections 2024, foreign capital inflow and other global cues. Read here: Week Ahead: Inflation data, FII activity, global cues among key market triggers as Nifty 50 eyes 22,800 this week “Investors will take cues from the outcome of the ECB interest rate meeting and US Non-Farm Payroll data.

Investing.com-- Japan avoided a recession in the fourth quarter, a revised gross domestic product reading showed on Monday, aided chiefly by increased company spending on new facilities and equipment.

By Jamie McGeever

By Ryan Woo and Liangping Gao

car industry has for the second time revised upwards its growth projections for this fiscal to more than 8%, nearly twice the rate projected at the start of the year. Passenger vehicle sales in the local market are expected to grow by 8.1-8.2% to 4.23 million units in FY24, buoyed by better-than-expected economic growth especially in the last two quarters, favourable monsoons despite the El Nino conditions, and effective monetary policies that helped rein in high inflation without affecting domestic consumption buoyed demand, industry insiders said. Earlier in the year, the industry had estimated sales of 4 million units and 4.13 million units.

For those wondering why private sector capex is not visible, here's an answer — it has reached a critical stage from where it is beginning to flow — said, CEO at Crisil, the biggest rating company that has the pulse of the Indian corporate world. Recent regulatory actions may slow the growth rate, but there is no trouble in sight, Mehta told Bhaskar Dutta and MC Govardhana Rangan in an interview. Edited excerpts: The latest GDP growth numbers surprised everyone. There are divergent views on it and we aren't seeing private capex yet. What are the corporates telling you? There are a few parts to this. One is the PLI (production-linked incentive scheme). It's very targeted — 15 sectors — and it's going to happen. Then there is conventional capex, the point that you are talking about. We are looking at capacity utilisation across multiple segments right now. What we are seeing is that in the top eight key segments, the capacity today is higher than the decadal average capacity utilisation that we have seen across those segments whether you take cement, steel, oil and gas, etc. Cement and steel plants are already expanding, refining is talking about green capex investment. Capex investment in these companies is at 13-14% versus 7-8% earlier. We are talking 13-14% growth in fixed assets. They have now started investing at a higher pace than earlier. The next question is about the sustainability of this growth. Can this be repeated?

By Yousef Saba and Maha El Dahan

The script at China’s National People’s Congress is pre-determined months before the event, but there had been speculation this week that Beijing might name a new foreign minister. Instead, it seems senior diplomat Wang Yi will continue in the role. The world’s second-largest economy has missed a trick.