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Xi Jinping's demand for total obedience and the elimination of any potential rivals within the ruling Communist Party, analysts say. State media this week confirmed that former defense minister Gen. Li Shangfu and former foreign minister Qin Gang were «no longer serving in office,» but offered no details. The opacity of China's one-party authoritarian system creates huge speculation about why the officials left office and whether they will face legal censure.

By Ranjan Dhar India, currently the fastest-growing major economy, is set to emerge as the third largest by 2027, propelled by a host of factors, including favourable demographics, stable and progressive policies with a strategic focus on infrastructure, digitisation, manufacturing, logistics, trade, and energy transition. Despite strong global headwinds and rising interest rates, India is still expected to grow between 6.5 per cent and 7.0 per cent by 2030. Steel will be at the heart of industrial expansion, which is why India plans to double steel production to 300 million tonnes per annum by 2030.

World shares are mixed after China pledged more spending to counter its economic slowdown

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Federal Reserve officials say soaring long-term bond yields are a key factor in the economic outlook and their interest-rate decisions. They also say the swelling federal deficit is one reason yields are rising. What they won’t say is that political leaders should therefore do something about the deficit.

The Bank of Canada is set to announce its interest rate decision Wednesday morning.

Beijing has pumped a record amount of short-term cash into its financial system to shore up lending in recent days, only to elicit a refrain familiar to China watchers this year — not enough, more required.

US equity-index futures dropped after Microsoft Corp. and Google’s parent Alphabet Inc. delivered a mixed picture of big tech earnings.

An El Salvador town has grown tired of waiting for President Nayib Bukele to build Bitcoin City – and will instead build its own “Bitcoin City” project “a few kilometers away.”

Thrice in a week, the Japanese government passed on intervening in the forex markets when the USD/JPY pair crossed 150 to the dollar. 

By Natalie Grover

(Reuters) — T-Mobile US (NASDAQ:TMUS) on Wednesday raised the lower end of its annual free cash flow forecast after quarterly subscriber additions topped estimates as customers flocked to the company's more affordable plans in a highly competitive market.

Investing.com — Results from Microsoft and Alphabet (NASDAQ:GOOGL) receive differing reactions as quarterly earnings season continues with Meta Platforms and IBM due. Beijing has decided to issue a substantial amount of sovereign debt to support the struggling Chinese economy, while results from Deutsche Bank come in ahead of expectations.

Several of Wall Street's biggest names convened in Riyadh, Saudi Arabia, for the kingdom's annual Future Investment Initiative, during which they weighed in on risks and opportunities for investors and the global economy.

Harsha Upadhyaya, CIO-Equity, Kotak AMC, says “from a medium- to long-term perspective, we still continue to be quite positive on India from both earnings perspective as well as how markets are expected to behave. However, in the very short term given the kind of strong performance that we have seen and some reversal inflows as well as some red flags that I mentioned, probably markets would kind of show some weakness or consolidate at current level.” Upadhyaya also says that “although the earnings expectations are much higher in the midcap basket, I would say that most of that positiveness is also discounted in terms of valuations. I would say, if the markets go into a correction mode or into a decline, we will probably see more downside volatility on the midcap side rather than the largecap side.” Let us try and get your understanding of the current market movement. How is the market looking to you, talking about a few quarters down the line? Quite bullish from an undertone perspective I would say. However, for the past two months, we have seen some red flags emerging as well as foreign liquidity turning negative. For September and up until now in October, we have seen foreign institutional investors selling about $3 billion worth of Indian equities. We have also seen crude oil moving up beyond $90 per barrel level and monsoon which ended the season with the deficiencies of about 6% or so is also a red flag.

Circle Squared Alternative Investments founder Jeff Sica explains why consumer spending will dramatically decline before the holidays on 'Varney & Co.'

Hong Kong’s leader has cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub

Congress expressed concern on Wednesday over the economic trends that have come out of a recent RBI bulletin and alleged that the economy has been mismanaged by the BJP-led Centre due to which a vast majority of Indians are suffering. The opposition party also expressed serious concern over the inflationary trends that have remained above the Reserve Bank of India's (RBI) threshold level of 4 per cent.

Hong Kong's leader on Wednesday cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub. Chief Executive John Lee said the extra stamp duties imposed on non-resident buyers and current local homeowners looking to buy additional properties would be halved, making the first easing over the past decade since property cooling measures were introduced. In his annual policy address, Lee also unveiled plans to reduce stamp duty on stock transactions to 0.1% from 0.13%, saying a vibrant stock market is vital to upholding the city's status as a financial hub. After the easing of COVID-19 restrictions, Hong Kong's economy has begun to recover, fuelled by growth in tourism and private consumption. The city's economy expanded 2.2% in the first half of 2023 year-on-year and is expected to grow between 4% and 5% for the full year. However, the path to full recovery remains uneven, particularly with geopolitics tensions rising and mainland China, its largest trading partner, struggling to rebound quickly.

Jaishankar on Wednesday embarked on a two-day visit to Kyrgystan to attend the 22nd meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of Government (CHG), to be held under the chairmanship of Kyrgyzstan, the Ministry of External Affairs said. The October 25-October 26 meeting in the Kyrgyz capital city of Bishkek will be attended by the heads of governments of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan, the Vice-President of Iran, and the foreign ministers of India and Pakistan. «In Bishkek, the external affairs minister will also meet with his counterparts from other SCO member states and call on the country's top leadership,» the MEA statement read. SCO observer States including Belarus and Mongolia as well as guest state Turkmenistan will also attend the meeting. The CHG is the second-highest forum in SCO.

By Summer Zhen and Xie Yu