Economy Financial News

By Yasin Ebrahim

DeBeers completely revolutionized the Diamond industry through arguably one of the best marketing campaigns of all time….A Diamond is Forever. The famous line, coined by a young copywriter, Miss Frances Gerety in 1947, hit home at a subliminal level, creating a desire that enraptures with its magic and its promise.

LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government's recent mandate to blend one per cent biogas with piped natural gas (PNG) supplies in the country from April 1, 2025 under the compressed biogas blending obligation (CBO) scheme. The biogas blending is proposed to be further increased to 5 per cent by fiscal year 2028-29.

Indian equity market has witnessed an astounding surge in IPO activity, defying global economic uncertainties and underscoring the resilience of the Indian economy. Post the 2020 Covid crash, Rossari Biotech initiated the wave of IPOs, witnessing overwhelming subscription and listing success. This event paved the way for numerous IPOs, demonstrating the robustness of Indian equity markets and attracting investments from various segments, including fervent participation from HNIs and retail investors. Over the past three years, the main board IPOs have displayed remarkable strength. In 2021, 63 companies went public, raising Rs 1.2 lakh crore. Despite global market challenges, 2022 witnessed 40 IPOs, accumulating Rs 60,000 crore. As of November in 2023, 48 companies have already gone public, raising more than Rs 45,000 crore. This IPO surge extends to the SME space as well, with 2023 breaking records with 156 IPOs, raising more than Rs 4,200 crore. The increasing average ticket size in SME IPOs, from Rs 13 crores in 2021 to Rs 18 crore in 2022 and Rs 25 crore in 2023, indicates that promoters are seeking larger capital to fuel their growth ambitions, and investors are responding positively to these opportunities. The active participation of retail investors has been a key driver of this IPO boom, often resulting in massive oversubscriptions. This reflects a growing appetite for equities among retail investors and a heightened confidence in the Indian economy.

health insurance coverage. The anxiety surrounding the risk of falling seriously ill and facing significant medical expenses can be daunting, particularly for individuals lacking sufficient health insurance. Given these apprehensions, it is essential to underscore the significance of possessing comprehensive health insurance coverage.

OECD warned. Growth is losing momentum in many countries and won’t edge up until 2025, when real incomes recover from the inflation shock and central banks will have begun cutting borrowing costs, according to the organization. Inflation eased in Europe, Brazil and Australia in recent readings but remains too high for central bankers’ comfort. Meantime, price pressures accelerated in Japan’s service sector, as well as in Zimbabwe, where officials recently adopted a new inflation metric. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: World The Organization for Economic Cooperation and Development forecasts global gross domestic product to expand only 2.7% next year after an already weak 2.9% in 2023.

golden opportunity to capitalise on it? Globally, a new 'loneliness economy' is rapidly taking shape. US surgeon general Vivek Murthy has been fighting loneliness for a while now. He's been at it at least since he published a 2017 piece, 'Work and the Loneliness Epidemic' (rb.gy/flwppa), in the Harvard Business Review, following it up in his 2020 book, Together: The Healing Power of Human Connection in a Sometimes Lonely World, and via his role in the recent reshaping of US policy to acknowledge social connection as 'a fundamental human need, as essential to survival as food, water, and shelter'.

Pitti Engineering Ltd Share Price: Shares of Pitti Engineering Limited (PEL) have soared more than 2000 per cent in the last three years, showing a strong uptrend over the company's increasing capacity and global footprint along with a robust order book. Domestic brokerage firm Axis Securities has initiated coverage on PEL with a ‘buy’ rating, setting a target price of ₹915.

With the Bank of Canada offering little hope to those aching for interest rate relief, experts say some Canadians might be able to get a break on their mortgage by paying closer attention to the bond market.

OpenAI, a leading artificial intelligence research lab, has announced a significant change in its leadership. Sam Altman, the previous CEO, has stepped down and left the board of directors. The decision comes after the board concluded that Altman was not consistently candid in his communications, affecting their ability to fulfill their responsibilities. As a result, Mira Murati, OpenAI's Chief Technology Officer, initially took over as the interim CEO​​.

Historically, November has been among the most prosperous for the Nifty 50 and the overall Indian stock market. While writing this, Nifty 50 was trading at around 20,094.50, and Nifty November 2023 was trading at almost 19,889.70 points premium in the cash market. 

In India’s ever-fluctuating real estate domain, understanding the nuances of home loan rates is paramount for prospective homebuyers and those contemplating refinancing.

As the real estate market continues to evolve, experts are examining the factors that contribute to its growth and stability. In this analysis, we explore the current situation and offer insights into the potential trajectory of the real estate market.

Jagdeep Dhankhar lamented on Saturday that retired judges have kept the country's arbitral system in a «tight-fist grip», denying a chance to other qualified minds, and echoed the remarks of Chief Justice of India D Y Chandrachud that it resembles an «old boys' club». Dhankhar suggested that the time has come when people need to introspect and move forward by bringing about necessary changes, including, if required, by legislation. «Nowhere on the planet, in no other country, in no other system there is such a tight-fist grip on the arbitral system by retired judges.

₹10.74 lakh and ₹14.05 lakh, the Jimny Thunder Edition is available at ex-showroom rates. Standard accessories included in the Thunder Edition encompass a front skid plate, side door cladding, door visor, door sill guard, grip cover in rustic tan, floor mat, and exterior graphics. Additionally, the edition features garnish on the front bumper, ORVM, side fender, and hood.

Financial markets construed the much awaited Powell's speech Friday as decisively dovish as he did not seem to push hard against the markets' expectations of hefty rate cuts next year. Powell, in his speech at Spelman College, said that the Federal Reserve's monetary policy is in a restrictive territory and it is too early to time the Fed rate cuts. He added that if appropriate, they are ready to hike rates further.

Sandeep Bagla, CEO of TRUST Mutual Fund says within mid-caps and small-caps, there are significant variations in valuations. He pointed out that the mid-cap and small-cap space will always be a stock pickers’ canvas. In an interview with Mint, Bagla talked about the current market structure and sectors he is positive about.

US Federal Reserve is done with interest rate hike have acted as key catalysts for the foreign fund inflows into emerging markets like India. The FPI inflows into Indian equities during the month of November stood at ₹9,001 crore as against selling of over ₹39,000 crore in September and October together, according to National Securities Depository Ltd (NSDL) data. Taking into account debt, hybrid, debt-VRR, and equities, FPI inflows were at ₹24,546 crore during the month.

Also Read: US stock market ends higher as Powell raises peak rate hopes; S&P logs highest close of year He also noted that the “full effects" of the Fed’s 5.25 percentage points of rate hikes to date have likely not yet been felt, Reuters reported. “We are getting what we wanted to get" out of the economy, Powell said during an event at Spelman College in Atlanta.

GDP data, heightening expectations that the industry will continue to power the economy for years to come. The construction sector grew 13.3% in July-September from a year earlier, up from 7.9% in the previous quarter and its best performance in five quarters, the data released on Thursday showed. That helped India expand at a forecast-beating 7.6%, making it one of the world's fastest-growing major economies. In contrast, Western economies have been squeezed by high interest rates and energy prices, while China has been hobbled by a debt crisis in its property sector. The long-awaited boom — which has created millions of jobs — comes after about six years of debt and pandemic-induced downturn before the construction sector began improving last year and hitting its stride this year.

RBI Governor Raghuram Rajan's comments on India's GDP growth, KV Subramanian, Executive Director of the International Monetary Fund (IMF) and Former Chief Economic Advisor to the Government of India, expressed optimism. Speaking to ANI he highlighted the robust growth of the Indian economy, citing a 7.2 percent growth last year and a 7.7 percent growth in the first half of the current year.