Economy Financial News
06.12 / 06:29
06.12 / 06:15
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Angst mounts over Germany’s green transition
When Robert Habeck, co-leader of the Green party and the economy tsar in Germany’s ruling coalition, floated a bill last spring that mandated replacing gas and oil boilers with cleaner heat pumps, he got more heat than he bargained for. Tabloids screamed his “heat hammer" would push millions into debt. Whipped-up fury against “Green fascism" boosted ratings for the hard-right Alternative for Germany (AfD) party.
06.12 / 06:15
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Nifty 50 likely to touch 23,200 by end of 2024, ICICI Securities forecasts; check out top picks
ICICI Securities. The upbeat domestic GDP growth with the rising capex cycle, the cyclical factors are expected to accelerate next year, which would drive the markets higher. “We expect favourable cyclical factors to accelerate in CY24 driven by capex-cycle firing on all cylinders (reflected in Q2FY24 GDP print), thereby triggering the corporate re-leveraging cycle," ICICI Securities said in a report.
06.12 / 06:15
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RBI monetary policy meeting begins today: Here's all you need to know
Bank of India (RBI) began on Wednesday, December 6. RBI Governor Shaktikanta Das will disclose the decision of the Monetary Policy Committee (MPC) around 10 am on Friday, December 8. There is widespread anticipation of rates staying as it is after the RBI MPC meeting even as inflation has eased significantly and economic growth remains strong.
06.12 / 06:15
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Nifty at new high again! B&K sees another 10% upside in 12 months, suggests this strategy
Nifty50 has been on a bull run, hitting record high for the fourth straight session on the back of stellar GDP growth in the September quarter, foreign investors inflows returning to Indian equities, stabalising dollar and yields, and hopes of a rate cut sooner than anticipated. Moreover, state election results indicating a very high probability of policy continuity also aided the sentiment. Indian markets also saw a strong rally in November, rising 5.5 percent after a weak October following strong global cues as the risk of worst-case scenarios reduced both internationally and in India.
06.12 / 05:59
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Marketmind: Optimism over peaking rates propels stocks
A look at the day ahead in European and global markets from Kevin Buckland
06.12 / 05:03
06.12 / 03:43
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Oil prices pinned near 5-mth low on China woes, US inventory build
Investing.com-- Oil prices moved little in Asian trade on Wednesday, sticking to near five-month lows after a warning on China's economy rattled markets, while signs of an unexpected build in U.S. crude stockpiles also added to pressure on prices.
06.12 / 03:43
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China blue-chip stocks hit 5-year lows, yuan eases after Moody's move
SHANGHAI (Reuters) -China's blue-chip stocks slumped to an almost five-year trough on Wednesday while the Chinese yuan extended losses, with market sentiment fragile after ratings agency Moody's (NYSE:MCO) cut China's credit outlook.
06.12 / 03:43
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Australia Q3 GDP slightly misses expectations as exports shrink
Investing.com-- Australia’s economy grew slightly less than expected in the third quarter on weak export demand, particularly in China, although domestic spending remained robust amid high interest rates and inflation.
06.12 / 03:43
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China state banks selling dollars for second day to support yuan-sources
SHANGHAI (Reuters) -China's major state-owned banks were selling U.S. dollars in the onshore spot foreign exchange market for a second day on Wednesday to support the yuan currency, three sources with knowledge of the matter said.
06.12 / 03:43
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Asian stocks surge as Fed rate cut bets offset China fears
Investing.com-- Most Asian stocks rallied on Wednesday as weak U.S. labor market indicators fueled more bets that the Federal Reserve had limited room to keep interest rates higher, helping investors look past a warning on China’s economy.
06.12 / 02:44
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Wall Street ends mixed after job openings hint at cooling economy
Wall Street's most valuable companies rose as Treasury yields dipped to multi-month lows. Nvidia and Apple rose more than 2%, while Amazon.com and Tesla gained more than 1%. Most S&P 500 sector indexes ended down after data showed U.S.
06.12 / 02:43
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Asia stocks gain as lower bond yields buoy tech; oil sags
bond yields continued to decline. Japanese government bond yields dipped to the lowest since mid-August as U.S. Treasury yields hovered close to a three-month trough. Meanwhile, crude oil sank to a nearly five-month low, while bullion held steady after dropping back from an all-time high.
06.12 / 02:23
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Kirloskar co Arka Fincap eyes Rs 300 crore from NCD sale
Arka Fincap on Tuesday announced the sale of non-convertible debentures (NCDs) with a base size of ₹150 crore and an option to retain another up to ₹150 crore. The issue will open on December 7 and close on December 20.
06.12 / 02:23
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Canara Bank, Bank of Maharashtra plan bond sales to raise Rs 4,500 crore
Canara Bank (CanBank) and Bank of Maharashtra are looking to raise up to ₹4,500 crore in bond sales amid surging demand for credit in a rapidly expanding economy. Canara Bank plans to carry out an issuance of additional tier-1 (AT-1) bonds with a base size of ₹1,000 crore and a greenshoe option of ₹2,500 crore on December 7, sources aware of the development told ET. The bonds are rated AA+/Stable by rating agencies Crisil and ICRA. Bank of Maharashtra is looking to raise up to ₹1,000 crore worth of funds through sale of a tier-2 bond around December 12-13, sources said.
06.12 / 02:23
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Fed risks losing control of messaging on rates: El-Erian
El-Erian said the Fed may well tolerate higher inflation instead of pushing the economy into recession to hit its 2% target. But he also said investors are over-reacting by pricing in sharp rate cuts. Market prices have swung wildly in recent days as traders bet on a drop in borrowing costs amid signs that inflation is falling and comments from Fed Chair Jerome Powell that the actions taken so far have pushed policy «well into restrictive territory.» Speaking to Bloomberg Radio on Tuesday, El-Erian warned that the Fed needs to recover its credibility on forward guidance with the markets or the recent «tremendous loosening of financial conditions» will undermine its policy.
06.12 / 02:23
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BJP MP Sudhanshu Trivedi reminds Rajya Sabha of "Hindu Growth Rate" under Congress, says country now seeing "Hindutva Growth Rate"
Sudhanshu Trivedi on Tuesday said the country's robust GDP numbers reflect the «growth rate of Hindutva». In a veiled dig at the previous Congress-led United Progressive Alliance (UPA) government at the Centre, Trivedi said the Indian economy was striving to go beyond 2 per cent, which was jokingly labelled as the «Hindu rate of growth». Addressing the Upper House during the discussion on the economy, the BJP MP said, «With respect to the Indian economy, I am being reminded of the days when the country was under Congress rule. Our country was made fun of back in those days and it was said, in a jocular vein, that our economy couldn't grow beyond 2 per cent.
06.12 / 02:07
06.12 / 02:07
06.12 / 02:03
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2024
budget 2024
Budget 2024: A quick guide on how to read the Budget document
Nirmala Sitharaman will rise up in the Lok Sabha to present the Union Budget 2024-25. It will be an interim Budget as the elections for the Lok Sabha are due early next year. The full Budget for FY25 will be presented after the formation of the new government following the general elections.
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