Economy Financial News

Mahesh Patil, CIO, ABSL AMC, talking to ET Now at the sidelines of ABSL Voyage 2024, says “the theme of our event is Dominant Bharat. If you really believe that Bharat is going to be the third largest economy in the next seven years, and the GDP is going to grow at 7% plus, then you will see a lot of opportunities emerging. Corporate India growth has been very strong in the last two years and will continue to grow at a double digit rate. If that is the case, then while markets might consolidate a bit in the near term because of the huge outperformance, you will still make the long-term returns the markets have given.” 30 years of wealth management, 30 years of superlative CAGR returns. They say good news and good prices rarely come together. Right now, the news is great. But when the news is great, prices are bad. What is the way forward? What should be the message from Birla AMC? And what should be the takeaway for them? Mahesh Patil: Yes, good morning and welcome to this voyage event. I think we have been through this occasion and we have been trying to put forward our views. Okay, every time we come, okay, and talk over here, we are always worried. The market has reached a peak now. That is a common question which is there. But you are right, Last one year has been unprecedented. The kind of returns that we have seen and the market has been climbing the wall of worry.

Investing.com-- Gold prices moved in a flat-to-low range on Wednesday, extending their recent run of muted performance as anxiety over higher-for-longer U.S. interest rates persisted ahead of key economic readings.

By Clare Jim and James Pomfret

READ HERE: India's GDP growth to moderate in Q3 & Q4; Capex to remain tepid: ICRA's Aditi Nayar The brokerage further informed that its estimates are corroborated with the in-house developed SBI-ANN (Artificial Neural Network) model, with 30 high-frequency indicators. ANN has been trained for the quarterly GDP data from 2011Q4 to 2020Q4 and the in-sample forecast performance of the model in the training period has been precise.

By Jihoon Lee

renewable energy capacity, it faces a conundrum, despite targets for renewable power generation, the nation is poised for significant growth in fossil fuel-fired power generation in the coming years. This dilemma, highlighted by BP chief economist Spencer Dale, underscores the mounting sense of «frustration and anger» in developing economies over Western-imposed climate policies. «Even if that happens, the country will still need to boost coal- and/or gas-fired generation to meet forecasts of energy demand growth», Dale said.

Investing.com-- Most Asian currencies moved in a flat-to-low range on Wednesday, while the dollar strengthened as markets positioned for more cues on the U.S. economy and interest rates due later in the week.

Investing.com-- Hong Kong-listed Chinese property stocks fell on Wednesday, coming under pressure from renewed concerns over a real estate meltdown after Country Garden (HK:2007) was slapped with a liquidation petition. 

Finance minister Nirmala Sitharaman urged industry to “join in a big way" the national effort to push India’s growth trajectory higher. Speaking at an event on Tuesday, she said that global investments are flowing to India and called on India Inc to look for greater joint-venture partnerships around the world. “You are here, you are watching the situation, watching the flow of investment capital," she said.

By Andrea Shalal

G20 finance ministers will meet Wednesday in Brazil, seeking ways to shore up a global economy whose nascent recovery is threatened by a raft of conflicts and crises, including the wars in Ukraine and Gaza. The Ukraine war could take center stage at the meeting, with G7 countries due to meet on the sidelines to discuss shoring up Western support against Russia's invasion — including what US Treasury Secretary Janet Yellen called an «urgent» proposal to use frozen Russian assets to increase aid for Kyiv.

eBay beat market expectations for quarterly revenue and profit on Tuesday, helped by healthy consumer spending during the holiday season and strength in its focus categories such as refurbished goods and auto parts. Shares of the company rose around 4% in extended trading.

By Lucy Craymer

IMF and the first person from an emerging market economy. Keeping Georgieva on for a second term would answer longstanding concerns raised by emerging market and developing countries over the US-European duopoly at the two global financial institutions, the IMF and World Bank.

Mint that 77% of the rooms signed in 2023 were within the luxury and premium portfolio segment, compared to the 48% in 2022. Edited excerpts: Asia Pacific had a particularly strong year across the industry. In our case, we almost broke every record that there was.

The Kentucky Senate has voted to lay the foundation to attract nuclear energy projects to a state where coal has fueled the economy for generations

American consumers are feeling less confident this month as concerns over a possible recession grew, despite most indicators pointing to a healthy U.S. economy

While it seems increasingly unlikely the U.S. economy is headed for recession, small businesses still face headwinds like higher costs and difficulty retaining qualified workers

Bank of Montreal (BMO) on Tuesday missed analysts’ estimates for quarterly profit as the lender set aside a larger-than-expected sum of money to cover bad loans in an uncertain economy.

By Andrea Shalal

By Lucia Mutikani