Economy Financial News

By Xie Yu and Selena Li

By David Milliken and William Schomberg

Investing.com-- China’s trade balance grew more than expected in December, aided by an outsized rise in exports as foreign demand improved, while the country’s imports continued to lag. 

Investing.com-- Most Asian stocks moved in a tight range on Friday as investors digested mixed inflation readings from the U.S. and China, while Japan’s Nikkei 225 index continued to blaze past its global peers.

Investing.com-- Most Asian currencies tread water on Friday, while the dollar saw little strength as traders looked to U.S. interest rate cuts this year despite a stronger inflation reading for December.

In this article

New Delhi: India’s G20 Sherpa and former NITI Aayog chief executive Amitabh Kant emphasized the country's strategic shift towards a circular economy, citing its potential to foster environmental conservation, economic growth, and job creation. Speaking at the ‘FICCI Circular Economy Symposium’, Kant set forth an ambitious target for India to reduce the cost of green hydrogen production to $1 per kg by 2030, down from the current rate of $4.5 per kg. Kant underscored the urgency for India to accelerate its growth rate from the current 7.5 percent to between 9 and 10 percent per annum in the coming years, with a particular focus on renewable energy and green hydrogen.

Union Budget 2024-2025 is expected to have a significant impact on the MSME sector, which is considered the backbone of India’s economy as it contributes to about 30% of our GDP, 48% of exports, and employs over 11 crore people. “Allocation of more funds for the ‘Raising and Accelerating MSME Performance’ (RAMP) scheme would provide major financial and technical support to MSMEs.

Ajay Bagga, Market Expert, says “some of the NBFCs have a lot going in the rural economy where the demand has still not picked up. So, I am a little circumspect on this NBFC segment. I think margins will come down and the growth trajectory of revenues as well as profits will come into single digit this year. I think that is the anticipation.” Fundamentally, how is Shriram Finance looking? Where do you see it headed from here on now? Ajay Bagga: I do not talk about particular stocks, but I will take it to the broader NBFC sector. We are expecting revenues and margins to go down over the year. The growth trajectory to go down. Single digit growth in profits. So, the kind of run up today we are seeing in some select NBFC counters, we should be cautious about it. The cost of capital is increasing and the margins are under pressure. RBI has been putting pressure as well on certain segments of the NBFCs.

IMF's executive board approved an immediate disbursement of around $700 million for Pakistan Thursday as part of a program to support the cash-strapped South Asian country through an economic crisis. The funds were unlocked after the International Monetary Fund board approved the first review of a nine-month, $3 billion loan agreement reached in July 2023 to help Pakistan weather a balance-of-payments crisis and service crippling external debt.

Q3 results today: Despite speculations about a global slowdown, Indian companies reported strong quarterly results in the April to June 2023 quarter. The performance improved further in the July to September 2023 quarter after a better-than-expected recovery in the Indian economy. The Indian economy has managed to keep inflation under control throughout the year, which is expected to fuel industrial and other demands in India.

“Key areas of focus could include tax relief measures to boost consumption and investment, especially for salaried individuals and MSMEs,” says Sonam Srivastava, smallcase Manager & Founder, Wright Research. In an interview with ETMarkets, Srivastava said: “Increased allocation for infrastructure projects is anticipated, which would create jobs and stimulate economic growth,” Edited excerpts: The market seems to have climbed all wall of worries to hit fresh highs in the first week of January 2024. But the voice is getting louder both domestic and global that these valuations are unsustainable. What is you take? Sonam Srivastava: The market reaching new highs in early 2024 reflects a blend of optimism and speculative fervor. The concerns about unsustainable valuations, both domestically and globally, are not unfounded.

BEIJING (Reuters) — China's exports grew 2.3% in December from a year earlier, customs data showed on Friday, adding to signs global trade is slowly turning a corner with the prospect of lower borrowing costs on the horizon, but deflationary pressures still loom.

BEIJING (Reuters) -China's consumer prices declined for a third month in December while factory-gate prices extended their prolonged slide, highlighting persistent deflationary pressures in an economy struggling to mount a solid recovery.

The December inflation report came in slightly hot. So what should financial advisors do if it really catches fire?

By Victoria Waldersee

An industry association reports that China’s auto exports surged 63.7% in 2023 while sales at home rose 4.2%

The number of Americans applying for unemployment benefits inched down to its lowest level in nearly three months last week as the U.S. labor market continues to flex its muscle in spite of elevated interest rates

Higher energy and housing prices boosted overall U.S. inflation in December, a sign that the Federal Reserve’s drive to slow inflation to its 2% target will likely remain a bumpy one

Beijing's threat to use force to claim the self-governed island of Taiwan isn't just about missiles and warships

Wall Street is drifting in mixed trading after an inflation report forced some investors to push back forecasts for when the Federal Reserve will deliver long-sought cuts to interest rates, but not to abandon them