Pandemic Financial News

BEIJING (Reuters) — China has ordered its local governments to halt public-private partnership projects identified as «problematic» and replaced a 10% budget spending allowance for these ventures with a vetting mechanism by Beijing as it tries to curb municipal debt risks.

By Emily Chow and Trixie Yap

EIH Ltd., which runs the eponymous hotel chain. His death brings to an end two generations of the family that built the Oberoi empire into an Indian hospitality powerhouse with a significant global footprint. Mohan Singh Oberoi, the man who started it all in 1934, passed away in 2002 and Tilak Raj, his older son, died prematurely in 1984.

That’s because the container shipping industry, cast as the Grinch that spoiled Christmas over the past two years with record-high freight rates and slow deliveries, is returning to its pre-pandemic place in the corporate world: perennial underachiever Charlie Brown. The biggest carriers posted net income totaling $364 billion in 2021 and 2022, according to figures compiled by industry veteran John McCown, after a decade of scant profits. They’ll likely drift back into the red this quarter as the rates they charge fall below costs and look to stay there for the foreseeable future. Booms-turned-busts have been more abrupt and sensational, but rarely has an established industry so tied to the global economy lurched from historic profits to below break-even levels more directly than the shipping lines that move 80% of the world’s merchandise trade have this year.

Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports. Brent crude futures rose 33 cents, or 0.4%, to $82.85 a barrel by 0113 GMT. U.S.

Amazon Games, in the Nov. 13 email. The company began informing employees Monday morning that their roles had been eliminated, in the second cut to the division this year.

Warner Bros.' decision to shelve the completed film «Coyote vs. Acme» as a $30 million tax write-off, the studio is now allowing the film to be pitched to other distributors. Screenings are reportedly being arranged for streaming giants Amazon Prime Video, Apple, and Netflix to potentially acquire the movie, which concluded filming in 2022 with initial plans for theatrical release. While Amazon and Netflix have been active buyers during the pandemic, the fate of «Coyote vs.

Investing.com -- The Federal Reserve's higher for longer rate regime will be followed up by a series of rate cuts starting in June next year that will go «well beyond» market expectations, Morgan Stanley says, expecting the Fed to achieve a soft landing as it embarks on the last mile to curbing inflation to target.  

commercial vehicle (CV) market may hit a new peak by the end of 2023-24 and continue to advance at a brisk pace next fiscal amid robust demand from construction, mining, and other segments, said Dheeraj Hinduja, executive chairman of Ashok Leyland. As a result, the CV market may defy the traditional demand cycle of an upswing and slowdown, Hinduja said. «We do think that we (industry) will hit a new peak and surpass the previous one,» he told ET.

By Greg Bensinger

Muthoot Finance Ltd. But so far in this financial year, Muthoot has lost some of its spark with sequentially declining gold loan assets under management (AUM) growth and contracting net interest margin (NIM). The challenge for Muthoot is to maintain its loan growth and margin expansion simultaneously.

By Huw Jones

As a new year approaches, people will once again commit to improve their lives and achieve new goals, but is there value for investors beyond the ‘New Year, New You’ bounce?

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₹2.5-3 lakh per annum (or $4,500-6,500 at then prevailing exchange rates). Apart from some exceptions, it appears as if the hiring of fresh engineering talent at the same low salaries as two decades ago is an exploitative tactic that is still used by the country’s IT majors. Accounting for inflation, this means that engineers graduating today are only making a fraction of what their seniors did 20 years ago! The only exception was the sudden surge during the pandemic, which pushed global clients to outsource more of their operations in a bid to keep down costs.

ANZ reported a record full-year cash profit of $7.4 billion, 14 per cent higher than a year earlier, boosted by its diversification into institutional banking for large companies amid competitive pressure in Australian housing.

Dubai has long lived by the adage that more is more, and this year's edition of the biennial air show stands to fulfill that principle. Emirates, already the world's largest international airline, is poised to kick off the first day of the event with a major aircraft order to renew its widebody fleet. President Tim Clark has publicly declared that he's in the market for more than 100 planes, possibly buying from both Airbus SE and Boeing Co. Now Turkish Airlines is muscling into the event, planning to one-up the local champion with a giant order for about 350 aircraft, according to people familiar with the negotiations.

The strange thing is that the unease created by such events has been made worse for some investors because of a partial reversal of a long-standing trend. Longtime readers may have noticed my recurring observation regarding the heavy dependence of Indians on traditional fixed income investments.

Tens of thousands of shipping containers stuffed with consumer goods like electronics, clothing and food remained trapped at ports around the country on Sunday after stevedore DP World Australia was struck by a cyberattack on Friday.

Fear: An Alternative History of the World. By Robert Peckham. Profile Books; 448 pages; £25 One of the bestselling books of all time was about witches.

In the lexicon of the Indian bourses ‘Samvat 2080’ is more than the traditional Hindu accounting year beginning today. As always, there is a renewed air of anticipation as the bourses herald the new Samvat with their decades-old practice of  Muhurat (auspicious hour) trading. Post the pandemic, while the businesses have rebound with airlines, hotel-chains, cab-hire outfits getting busy, hospitals are also seeing increased footfalls with patients preferring a physical meet with the physicians than over a zoom call and other health  needs that took a back seat during the pandemic getting priority. What then is the outlook for the pharmaceutical industry and the healthcare providers.