Economy Financial News

By Lananh Nguyen

Investing.com — Oil prices rose Thursday, recovering from near four-month lows although concerns over a slowdown in global crude demand remain.

By Amruta Khandekar and Shristi Achar A

Markets have been very quiet in the last couple of days, with the lack of any major data causing stocks to drift higher, extending their recent trend, while the dollar has drifted back higher following last week’s data-driven sell-off. As a result, gold and silver have weakened so far this week. But are we now going to see a recovery? Will the dollar resume lower amid the peak US interest rates narrative? Attention will be on Federal Reserve chair Jerome Powell, who is due to speak, as well as US jobless claims data.

President Xi Jinping mulls over rare policy changes like increasing the budget deficit which was increased to its most substantial scale in three decades. The country introduced a sovereign debt package that signaled a departure from its conventional fiscal support framework. 1.

GuideStone Capital Management President and CIO David Spika discusses the markets, inflation, and how the latest jobs report reflects the current state of the economy.

SINGAPORE—The list of business executives and political figures who have gone missing in China keeps growing. Top executives at a video-streaming platform and a pharmaceutical company were the latest to disappear, as an intensifying clampdown by Beijing on alleged corruption and malfeasance shakes business confidence in China, among local and foreign firms alike. Chen Shaojie, chief executive of livestreaming firm DouYu, has been unreachable since October, a person familiar with the matter said.

Americans are still spending more of their money on stuff than they did before the pandemic. There is little reason to think that is about to stop. Early in the pandemic, unable to spend on things such as traveling and dining out, and with their finances buoyed by government relief, people bought goods with abandon.

Over the past 8 days, several key factors, from the recent Fed meeting to US economic data and a series of statements by Federal Reserve board members, have halted the EUR/USD pair's resurgence. Currently, the pair finds itself amidst a broad correction, but there's still a possibility that the uptrend could resume.

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Iran on Thursday rejected a G7 statement which called on Tehran to stop supporting Hamas militants and taking actions that «destabilise» the Middle East. Tehran's comment came a day after foreign ministers from the G7 group of advanced economies, meeting in Tokyo, expressed support for «humanitarian pauses and corridors» in the Israeli-Hamas war. Israeli air strikes have pounded the Palestinian territory of Gaza since Hamas gunmen stormed across the heavily militarised border on October 7 to kill more than 1,400 people, most of them civilians, and seize around 240 hostages, according to Israeli officials. The subsequent Israeli bombing campaign in Gaza has killed more than 10,500 people, two-thirds of them women and children, according to the Hamas-run health ministry. The G7 also called on Iran to «refrain from providing support for Hamas and taking further actions that destabilise the Middle East, including support for Lebanese Hezbollah and other non-state actors.» On Thursday, Iran's foreign ministry spokesman Nasser Kanani «strongly condemned» the statement by the group which includes the United States, Britain, Germany, Canada, Italy, France, and Japan. He said Iran has engaged in «non-stop efforts to stop military attacks of the Zionist aggressor regime (Israel) on the defenceless citizens» in Gaza.

Manish Chokhani, Director, Enam Holdings, says “in a bull market, if you try to change horses midway, like last year, when a lot of banks did not do well, many thought why don’t I jump to real estate? Next year, I will try tactically to jump from real estate to auto. If you do that, you will miss out by not being invested. If you miss the best 15-20 days of a market in a year, you have basically given away your returns. So, whatever you like and you understand, the market does not owe money to anyone.” Chokahni also says: «If I put FDI, FPI and equities and debt inflows together, the country is slated to be getting in excess of a hundred billion dollars starting post election.» Our theme this year is Yeh Diwali Muskaan Wali (A smiling Diwali). You already have that muskaan (smile) but what is bringing about that muskaan? I was remembering RRR, so thankfully that is not coming back. We have got a better googly for you this time. But yes much like RRR, the way it shot up all the way to the Oscars like Indian equity markets despite all odds? Well a lot of things to feel bullish about.

PV Subramanyam, CEO, Subramoney.com, says “I would rather put it in a multi-asset fund because a multi-asset fund would have 10% of its money in gold. So at any point in time, they will keep selling equity, buying gold or selling debt, buying gold or maybe selling gold and buying equity. That balancing will be done by the fund house and that is more tax efficient than you being able to do it. If you sell gold, you will pay capital gains tax. If you buy more gold, you will pay GST and things like that but if you let the fund manager sell equity, sell debt and buy gold when it is efficient that makes more sense. So a multi-asset fund with 10% in gold or 15% in gold makes more sense and it is more tax efficient also.” During Diwali time, especially Dhanteras, talk about gold is mandated even as we are dealing with a lot of uncertainties right now. There are geopolitical concerns, concerns over crude oil prices, which way they are going to go and of course slowdown in key economies. How important is gold as an investment class today? Normally you tend to have about 5-10% of your portfolio in gold but gold is not very efficiently taxed.

stark choice in the second round of its presidential election on November 19th. Sergio Massa, the current finance minister whose government is presiding over inflation of 138% and a bizarre system of various official exchange rates, is facing Javier Milei. Mr Milei is a libertarian who says he wants to tear down the system, borrowing ideas from Friedrich Hayek, Milton Friedman and other free-market economists.

Samvat 2079 has come to an end and now we usher in... moreSamvat 2079 has come to an end and now we usher in Samvat 2080.

Moody’s Investor Service, reaffirming its 6.7% growth forecast for the Indian economy for 2023. “With exports remaining weak amid an unfavourable global economic backdrop, strong domestic demand will likely sustain growth in the near-term,” the research firm said Thursday, predicting the Indian economy to grow 6.1% in 2024 and 6.3% in the subsequent year. India’s economy grew 7.8% in the April-June quarter; Moody’s expects growth momentum to have continued in subsequent quarters. “High-frequency indicators show that the economy's strong Q2 momentum carried into Q3.

offshore platforms after the government levied 1% tax deducted at source (TDS) on trading of virtual digital assets (VDAs) with effect from July 2022. The study, by Delhi-based think-tank Esya Centre, found that over Rs 3,50,000 crore was traded by Indians on offshore platforms between July 2022 and July 2023, which is over 90% of total VDAs traded by Indians. This has deprived the exchequer of Rs 3,493 crore of revenue, as against the collected revenue of Rs 258 crore, because of offshore trades that are not TDS compliant. This also means that billions of dollars of capital gains tax will not be collected on these trades conducted offshore.

Read here: SBI, L&T and more: ICICI Direct lists 7 stocks to buy this Diwali With a positive outlook ahead, what strategy should you follow in the next year? Here's what experts recommend. Despite global uncertainties, India remains a shining star and is expected to maintain its outperformance.

general elections in India would be one of the key triggers for the markets. Also Read: Diwali 2023 Stock Picks: Reliance, GAIL, Dr Reddy’s among top 10 buys from HDFC Securities However, analysts are bullish on the domestic markets given the resilient macros of the Indian economy. “The market is likely to witness a major rally before the next Samvat.

Some policymakers at the Bank of Canada expressed concerns last month that interest rates weren’t high enough to fully tame inflation, according to newly released deliberations that took place ahead of the last rate decision.

Q: At Adobe's Best of SUMMIT event, a crucial concept of how 'Experience Led Growth' is foundational to the success of every business was explored. How does this aspect of digital transformation fit into your company's growth? Manav Sethi: Traditionally OEMs (Original Equipment Manufacturers) have managed dealerships and it's them that manage end customer identities and relationships.