Economy Financial News

Prime Minister Justin Trudeau’s Liberal government faces pressures from two ends heading into Tuesday’s fall economic statement.

₹9,421 crore and purchased over ₹8,776 crore, resulting in an outflow of ₹645 crore on Monday. Meanwhile, Domestic Institutional Investors (DIIs) invested ₹ 6,646 crore and offloaded ₹6,369 crore, registering an inflow of ₹77 crore. Meanwhile, on Friday, FIIs cumulatively sold Indian equities ₹12,035.41 crore and purchased over ₹11,557.

By Steven Scheer

By Hernan Nessi and Eliana Raszewski

The dollar extended a decline, with a gauge of greenback strength hitting its lowest level since August, amid speculation the Federal Reserve is nearing the end of its rate-hike cycle.

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Also read: Xiaomi reveals its first electric car SU7 Xiaomi is emerging from a years-long funk, when global demand for smartphone and other electronics cratered and rivals from Huawei Technologies Co. to Apple Inc. and Oppo encroached on its once-dominant position.

China Asset Management’s Hong Kong branch has entered into a memorandum of understanding with Hashkey exchange and HamsaTech Hong Kong.

RBI has smothered the sector with, seeking higher risk weightage and capital provisioning. The myriad agents who process loan documents saw brisk work. Television advertisers saw hectic action.

₹70,000 crore so far this fiscal. Part of the reason is the government's decision to withdraw ₹2,000 notes from circulation in May this year. Meanwhile, the total number of ATMs increased by about 3,000, or by about 1.2%, during this period.

Vishal Goyal, Head of Research, UBS Securities, says NBFCs which are purely or mostly doing unsecured lending, are the most impacted as would be some banks which are unsecured and who have just entered unsecured and because their own cost of funding constraints might have taken additional risk. Then there is a category of large banks or top banks. They have historically been doing this business and have been taking less risk, even within unsecured. They would largely be unimpacted from a credit loss point of view. But almost everywhere we would see a slowdown.” You analyse this space pretty closely and RBI did kind of drop hints in multiple platforms about the way unsecured, especially consumer loans were growing at a very scorching pace and now they have moved. How much capital requirement or slowdown in the growth these names would have to see before they normalise? One, there is a direct impact on tier one which we estimate would be anywhere between 30 to 50 bps depending upon which bank we are talking about. Second, there is an indirect impact of increasing risk weights on lending to NBFCs which increases the cost of borrowing for NBFCs effectively and therefore, it will also have an indirect slowdown impact on overall consumer loans.

Nordic Baltic Eight (NB8) is a regional cooperation format that includes Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The NB8 is an innovation and technological powerhouse, while India, with its increasingly strong focus on technology, offers immense opportunities for partnerships.

Students from all over the world have chosen the United States of America as their top international study destination. The United States (US) hosted more than one million (1,057,188 to be precise) international students during the 2022-2023 academic year, a 12% increase over the previous academic year and showing the fastest rate of growth in over 40 years. The data is from the Open Doors 2023 Report on International Educational Exchange released recently. According to the US Department of Commerce, international students accounted for 6% of the total higher education population in the US and contributed nearly $38 billion to the US economy.

In a decisive win during Argentina’s presidential run-off on November 19, pro-bitcoin and far-right populist candidate Javier Milei clinched victory with over 55% of the votes, boasting a substantial lead of nearly 3 million votes, according to Bloomberg data.

By Rae Wee

“We believe India's investment and real estate cycle are in their early stages and can witness multi-year growth led by continuity of public and private sector investments and favourable govt policy,” says Taher Badshah, CIO, Invesco Mutual Fund. In an interview with ETMarkets, Badshah said: “We have recently increased our exposure to residential real estate noting demand resilience, steady improvement in demand-supply,” Edited excerpts: We are seeing some turnaround in Indian markets – is it the Diwali dhamaka or Santa rally? Indian markets were off to a weak start in the early part of 2023, trailing global markets due to growth concerns, particularly in the consumption economy, from rising interest rates and higher relative valuations.

BANGKOK(Reuters) — Thailand's economy expanded at a slower-than-expected pace in the third quarter, weighed down by weak exports and agriculture but supported by consumption and the continued recovery in tourism, the state planning agency said on Monday.

By Jorgelina do Rosario

Bank of India (RBI) watched almost helplessly as the residuary non-bank finance company (the term then used for the main engine of the group, Sahara India and Financial Corp) went on to garner deposits from ignorant savers, captivated by its charismatic promoter, the promise of high returns and the dramatic growth of the group. At one point of time, it was the country’s biggest employer after the Indian Railways, according to Time magazine.