Economy Financial News

Global fund managers are turning bearish again and increasing allocations to cash in preparation for weaker economic growth over the next 12 months, according to a survey conducted by Bank of America.

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BEIJING (Reuters) -China has told state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with knowledge of the matter said, as part of Beijing's efforts to reduce debt risks in a faltering economy.

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Indian stocks, which has delivered stellar return to shareholders in YTD. This Indian auto major has backing of various mutual funds and state-owned insurer Life Insurance Corporation (LIC) of India.

The real estate industry plays a pivotal role in the lives of the common man, as it provides the foundation for shelter, investment, and financial stability. It is a linchpin of the economy, shaping GDP, generating employment, and driving economic growth. However, certain issues have been observed in the behaviour of specific participants within the sector.

Safexpay, a digital payments company, has launched NeuX, a neo-banking platform for MSMEs, corporates and B2B businesses. 

Jio Financial Services (JFS) plans to launch auto, home loans and other products, as the billionaire Mukesh Ambani-backed company seeks to establish itself as a full-service financial services firm in a rapidly growing market. Despite strong growth, penetration of financial investment products in India is low relative to the size of the economy. Ambani is looking to tap into this market after similar disruptive forays into the telecom and retail sectors. JFS has already launched personal loans for salaried and self-employed individuals in the financial capital of Mumbai and consumer durable loans across 300 stores in India, it said in a presentation to analysts late on Monday, offering a first glimpse into operational details that had largely been vague at the time of its listing in August. It will now also launch business and merchant loans for self-employed individuals, it said. The company's insurance broking arm has also partnered with 24 insurance companies, while its payments bank division, which relaunched savings account and bill payment services, plans to launch debit cards.

new world order. Inaugurating the three-day Global Maritime India Summit in the national capital on Tuesday, PM Modi said, «In this changing world order, the whole world is looking towards India with new aspirations. The Indian economy is gathering more strength while the world is in the grip of an economic crisis.

Inflows to U.S.-listed emerging market ETFs that invest across developing nations as well as those that target specific countries totaled $228 million in the week ended Oct. 13, compared with losses of $3.1 billion in the previous week, according to data compiled by Bloomberg.

Bajaj Auto is expected to report mid-single-digit revenue growth in the second quarter of the current fiscal, mainly driven by better realisations despite a drop in volumes. Volumes for the September quarter declined 8% year-on-year (YoY), led by a 19% fall in the domestic two-wheeler segment due to base effect, and a 5% dip in export two-wheeler segment due to weak demand trends in African and South Asian regions. Revenue for the quarter is seen growing anywhere between 6-8%, while profit is likely to rise about 16%, according to an average estimate of three brokerages. EBITDA margin expansion YoY will likely be driven by better net pricing and product mix.

Virgin Australia’s chief development officer David Marr, the executive tasked with leading the airline’s mooted IPO, has stepped down from the role.

Top economists and central bankers appear to be in agreement on one thing: interest rates will stay higher for longer, clouding the outlook for global markets.

Stalled spending on electrical grids worldwide is slowing the rollout of renewable energy and could put efforts to limit climate change at risk if millions of miles of power lines aren't added or refurbished in the next few years

Commercial operations have begun at Cambodia’s newest and biggest airport, designed to serve as an upgraded gateway to the country’s major tourist attraction, the centuries-old Angkor Wat temple complex in the northwestern province of Siem Reap

A populist former prime minister of Slovakia who plans to end the country’s military support for Ukraine has signed a coalition agreement with the leaders of two other parties to form a new government

China’s Belt and Road Initiative looks to become smaller and greener after a decade of big projects that boosted trade but left big debts and raised environmental concerns

China’s property market meltdown created a multibillion-dollar opportunity for distressed-debt investors. It hasn’t paid off. The country’s real-estate sector is reeling from a yearslong slowdown that has put strains on the economy, sparked widespread protests and triggered defaults on around $81 billion of Chinese developers’ international bonds between 2021 and 2022, according to figures from S&P Global Ratings.

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a chance to stand in solidarity with people living in poverty, truly listen to their daily struggles, and renew commitments to create a just economy focused on protecting human and environmental wellbeing over maximizing financial gains. The ultimate goal is to eliminate poverty entirely by creating the conditions for everyone to live with dignity.

UBS managing director and senior portfolio manager Jason Katz discusses whether the U.S. stock market is ignoring the threat of a wider Middle East war on 'Varney & Co.'