Fitch Financial News

By Manoj Kumar

GDP data, heightening expectations that the industry will continue to power the economy for years to come. The construction sector grew 13.3% in July-September from a year earlier, up from 7.9% in the previous quarter and its best performance in five quarters, the data released on Thursday showed. That helped India expand at a forecast-beating 7.6%, making it one of the world's fastest-growing major economies. In contrast, Western economies have been squeezed by high interest rates and energy prices, while China has been hobbled by a debt crisis in its property sector. The long-awaited boom — which has created millions of jobs — comes after about six years of debt and pandemic-induced downturn before the construction sector began improving last year and hitting its stride this year.

Pakistani rupee is set to end the year as Asia’s worst-performing currency and the losses are seen extending into 2024. The currency has fallen about 20% against the dollar this year and analysts say its troubles are far from over. BMI expects the currency will weaken to 350 rupees per dollar by the end of next year, while Karachi-based brokerage Topline Securities Ltd.

MUMBAI : The Reserve Bank of India (RBI) slapped penalties totalling ₹71.4 crore in 56 cases in the year so far as it enhanced scrutiny of banks, non-banks and other regulated entities, data compiled by Mint showed. In comparison, the banking regulator levied fines of ₹26 crore across 34 cases in all of last year.

By Marc Jones

By Luiza Ilie

October alone saw a 21% jump from a year ago. Demand is usually lower in these months than in the preceding summer months, but the deviation surprised the sector. August's electricity consumption was 9% higher than in July and 12% higher than in May. The highest-ever peak demand of 240 GW was met on September 1, against the anticipated peak of 229 GW for April. August saw a 16.3% year-on-year increase in electricity consumption, while September recorded a 10.3% increase. Peak demand in October was 221.6 GW, up 18.5% from 187 GW a year ago.

Write to Asa Fitch at [email protected] Alert!Livemint tops charts as the fastest growing news website in the world

The idea of a Bitcoin supercycle, first introduced by Bitcoin educator Dan Held in 2020, is once again gaining traction in the community as Bitcoin is entering what some believe could be another long-term bullish phase.

Investing.com — The Dow closed lower Tuesday, as the minutes from the Federal Reserve most recent meeting showed members backed higher for longer interest rates for some time. 

₹6,470 per bbl, having swung between ₹6,420 and ₹6,500 per bbl during the session so far, against a previous close of ₹6,543 per barrel. Also Read: Crude below $80/barrel to support OMCs in near-term; ONGC, Oil India key beneficiaries of high prices -Between now and the weekend meeting, traders will get fresh insights into US fundamentals with the release of official figures on crude and product stockpiles. Nationwide crude inventories have expanded for the past four weeks to the highest since August.

By Juveria Tabassum and Juby Babu

Investing.com — Abercrombie & Fitch (NYSE:ANF) posted a sharp increase in net sales to $1.06 billion in the third quarter, topping Bloomberg consensus expectations of $987.3 million.

general elections in May. “Post-elections, we expect investment growth to re-accelerate, especially from the private side. While we expect the government to continue its focus on capital spending, given the medium-term fiscal consolidation path, the rate of growth in capex will likely decrease from the next fiscal year," it added.

₹70,000 crore, from ₹1.3 trillion in June 2022, when LPS was launched. “We expect receivable days for Fitch-rated gencos to further shorten in the near term, although at a slower rate than the sharp improvement in FY23," Fitch said.

₹700 billion, from ₹1.3 trillion in June 2022, when LPS was launched. “We expect receivable days for Fitch-rated gencos to further shorten in the near term, although at a slower rate than the sharp improvement in FY23," it said.

Google is at your service. Google has announced expanding its artificial intelligence (AI) capabilities to help people shop during the holiday season. Google will be updating its Search Generative Experience (SGE) so that the generative AI capabilities are brought into search to assist customers in their shopping. Moreover, in December, Google will also come up with its virtual try-on tool which will help generate photorealistic images about what to shop.

By Katherine Masters

By Libby George

By Ankur Banerjee

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.49% higher, while Tokyo's Nikkei gained 0.36%. Australia's S&P/ASX 200 index was up 0.61%. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday.