Economy Financial News

By Gergely Szakacs

When Xi Jinping celebrated a decade of Beijing-funded global development last month, he said the effort has focused on “on enhancing connectivity." New figures show just how closely China has linked itself to other nations. China is the world’s No. 1 source of international development finance, with some $1.34 trillion in loans and grants disbursed over 22 years for 20,985 projects in 165 low- and middle-income nations, according to a compendium published Monday.

General Elections, inflation and interest rate trajectory are the key factors that will influence the market. Also Read: Stock Markets and Diwali 2023: What could be the top challenges before Nifty 50 in Samvat 2080? Analysts explain We talked to several experts to gain insights into their expectations regarding the market's trajectory in Samvat 2080 and the potential milestones the Nifty 50 may reach in the new Samvat.

Tata Motors, L&T amongst top 5 performers during Samvat 2079 Tata Motors Ltd, Larsen & Toubro stand amongst top 5 Sensex gainers since last Diwali. The share prices of Tata Motors and Larsen & Toubro have gained 55-61% during samvat 2079 till date (i.e since Diwali last year) The strong pickup in economic activity has been supportive for Tata Motors and Larsen & Toubro. For Tata Motors the pickup and improvement in domestic commercial vehicle demand as well as continued momentum in personal vehicles segment remains a key growth driver.

Investing.com — European stock markets edged largely lower Tuesday, as investors digested weak German industrial output data as well as more quarterly corporate earnings.

Investing.com — The U.S. dollar rose in early European trade Tuesday, rebounding from recent lows, while the Australian dollar slumped after the RBA hinted at the end of its cycle of rate hikes.. 

India is looking at ways such as free trade agreements to enable domestic MSMEs to participate in public procurement of different countries, Commerce Secretary Sunil Barthwal said on Monday.

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Vladimir Putin has moved to shore up support among his core base in the security forces, the armed forces and with regional voters outside Moscow, while Wagner has been brought firmly to heel. Russian defence, weapons and overall budget spending has soared while Putin has made numerous public appearances, including the regions, over recent months. "The decision has been made - he will run," said one of the sources who has knowledge of the planning.

country's growth forecast to 5% and 4.2% in 2023 and 2024 respectively. In an official statement, the IMF said that GDP growth could slow to 4.6% in 2024 because of continued weakness in China's property sector and subdued external demand, Reuters reported.

home loan and real estate industries see the festive season as a potential opportunity to increase their sales by attracting customers. A recent report by real estate advisory company Palladian Partners shows there was a 32% jump in bookings in Mumbai in September 2023 year-on-year (YoY) while stamp revenue rose 53 per cent during the same period. Anarock Group’s data for September showed a jump of 29% YoY in new bookings in Bengaluru.

BEIJING (Reuters) -The International Monetary Fund on Tuesday upgraded its 2023 gross domestic product growth forecast for China to 5.4% from 5%, citing a «strong» post-COVID-19 recovery, but said the fund still expected the world's second-biggest economy to slow next year.

The benchmark Nifty50 is expected to scale 21,000-mark by the next Diwali, according to over 56% of the 16 respondents who participated in the survey conducted by ETMarkets on what the new year for Dalal Street will look like. Since last Diwali, the 50-stock index has net gained 9.5%, and the 21000-level target for Nifty50 implies a somewhat similar quantum of gains from the current levels. The bullish optimism among money managers for the next year comes despite the general elections on the anvil. While events such as these will bring in short-term volatility, the structural growth story of India remains intact and this is likely to drive strong capital inflows, according to money managers. Key Drivers General elections will be one of the major events that will drive domestic equities.

One of the biggest reasons people cite when saying they won’t buy an electric vehicle is range anxiety

Shares have mostly fallen in Asia after a mixed close on Wall Street

China has reported that its imports rose in October while exports fell for a sixth straight month compared with a year earlier

Australia’s central bank has lifted its benchmark interest rate for the first time since June with a quarter percentage point hike that brought the cash rate to a 12-year high of 4.35%

Rajeev Thakker, CIO,PPFAS MF, says “ at a time when US bond yields are around 4 to 5% and threatening to go higher and for longer, I do not think one should be really looking at hitting sixes right now. People have made a good amount of returns in the last few years, not the last two years, but maybe from a five-year perspective. I think it is time to be more conservative in terms of the future outlook. I do not think it is a time to be very aggressive in terms of investing.” The PMS started with an AUM of less than Rs 500 crore, Is it worth Rs 20,000 crore now? Equity scheme is Rs 45,000 crore. So, Rs 45,000 crore of equity and you started in 2012? 2013.

Most news and commentary describes the war in Gaza as the latest brutal episode in the conflict between Israelis and Arabs. That is one dimension, but from the perspective of world-power politics, it isn’t the most important. What really matters in the Middle East is the battle between Iran, increasingly backed by Russia and China, and the loose and uneasy group of anti-Iranian powers that includes Israel and the American-backed Arab states.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says “L&T on one hand, shows extremely high competitiveness in bidding and winning the contracts. On the other hand, the input cost control has to be there. In a given situation, which remains quite fluid, it is difficult for companies to maintain the margin beyond a point. Of course, they have got a pass over clause in most of their contracts. But all said and done, there are certain challenges in the margin. As a result of which, the margins have remained relatively more competitive. That is where they are probably not getting a higher valuation.” Do you think a large part of the rally in the capex theme is done because in the last few weeks, we have seen sideways moves from the likes of Siemens and ABB. The big rally that we were witnessing a few months ago seems to have subsided, with the exception of L&T? I guess a few things need to be observed. While most of the companies are continuing to take advantage of a good capex cycle in the country because of the government spending, the spending by the industry, etc. I feel the more important part is that these companies would have a probability of growth rate moderated between 15% and 20%.

Investing.com-- Gold prices fell further in Asian trade on Tuesday, hit by a rebound in the dollar and Treasury yields before a string of major Federal Reserve speakers this week.