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equity mutual funds fell to ₹15,536 crore in the month of November from ₹19,957 crore in October, revealed the AMFI (Association of Mutual Funds in India) data for the month of November. The number of systematic investment plans (SIPs) exceeded ₹17,000 crore for the first time. The SIP book for the month reached ₹17,073 crore, surpassing the October figure of ₹16,928 crore, shows AMFI data.

Back in June, when China’s youth unemployment rate hit a record 21.3%, Western analysts saw it as a sign of a moribund recovery. China’s ministry of statistics responded by announcing it would no longer publish the statistic. Six months on, that move might have had the desired effect.

RAYONG, Thailand—Ever since Nissan Motors started building cars in Thailand in the early 1960s, Japanese companies have been a driving force in the country’s rise as an auto manufacturing powerhouse. Now, Chinese competitors are moving in to bring it into the electric age. On the outskirts of Thailand’s carmaking capital, Rayong, not far from the industrial zones home to Japanese auto plants, China’s largest electric-vehicle maker, BYD, is developing what industry experts believe will be Thailand’s biggest car plant.

RBI Governor Shaktikanta Das said that notwithstanding the progress made on lowering inflation, the regulator’s 4% target was yet to be reached. The Reserve Bank kept its inflation forecast unchanged, projecting CPI-based inflation at 5.4% for FY24.

Ted Sarandos, co-CEO of Netflix, feels that the company has finally cracked the Indian market and is seeing remarkable growth in both subscribers and engagement. In an interview, he said Netflix is committed to investing in India and that getting to 100 million subscribers in the country is achievable. Sarandos also said that introducing an ad-supported plan in the US made sense as the subscription market there was saturated, while India's still had room to grow.

rupee closed slightly lower on Friday, tracking subdued moves in its Asian peers, as investors turned their attention to a crucial U.S. labour market report due later in the day. The rupee ended at 83.3850 against the U.S.

Canada is threatening to cap the number of foreign student visas if the quality of education and housing doesn’t improve for the newcomers, a move that would limit an important source of revenue for colleges and universities. “We are prepared to take necessary measures, including significantly limiting visas, to ensure that designated learning institutions provide adequate and sufficient student supports,” Immigration Minister Marc Miller told reporters at an Ottawa event Thursday. Think you check all the immigration boxes? Find out The number of foreign students in Canada has nearly tripled in the past decade, reaching more than 800,000 last year. The students pay about five times as much tuition as Canadians and are also grappling with soaring housing costs due to a severe supply shortage. Post-secondary schools, and the provinces and territories that regulate them, have until September to ensure that international students are “set up for success,” Miller said. Canada has a responsibility to support newcomers and protect them from “unscrupulous individuals” who offer inadequate living conditions with inflated prices, he added. “There are in provinces the diploma equivalent of puppy mills that are just churning out diplomas and this is not a legitimate student experience,” he said. “There is fraud and abuse and it needs to end.”

By Paul Carsten

By Phuong Nguyen

Investing.com — Most Asian currencies moved little on Friday as traders positioned for a potentially softer U.S. nonfarm payrolls reading, while the yen sat near a four-month high to the dollar tracking hawkish signals from the Bank of Japan. 

(Reuters) — U.S. stock index futures were subdued on Friday as investors prepared for the crucial monthly payrolls report to gain more insight into the Federal Reserve's stance on monetary policy for the upcoming year.

At the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting on December 08, 2023, the RBI Governor Shaktikanta Das announced the MPC’s decision to maintain the repo rate at 6.5 per cent. After a three-day bi-monthly meeting, the committee emphasized its dedication to maintaining its existing policy stance. It was evident from the announcement that the RBI has no intent to withdraw its accommodation stance regarding its decision on repo rates. 

Can the U.S. economy achieve a much-hyped “soft landing”

World shares are mostly higher ahead of a U.S. jobs report after Wall Street rose Thursday to snap its first three-day losing streak since Halloween

Indian Hotels Company Ltd. traded 1.48 per cent down in Friday's trade at 01:55PM (IST). Around 89,193 shares changed hands on the counter.

Bajaj Holdings & Investment Ltd. traded 1.44 per cent down in Friday's trade at 02:05PM (IST). Around 827 shares changed hands on the counter.

Colgate-Palmolive (India) Ltd. dropped 0.61 per cent to Rs 2292.15 at 02:00PM (IST) in Friday's trade. The stock has hit a high of Rs 2317.0 and low of Rs 2274.3 so far during the session.

Apple and its suppliers have ambitious plans to manufacture over 50 million iPhones in India every year within the next two to three years, Wall Street Journal reported citing sources. This move is part of Apple's strategy to reduce its dependence on China and diversify its supply chain. If successful, India would account for a quarter of global iPhone production by the end of the decade. Last month, Foxconn, one of Apple's key suppliers, showed its commitment to India by announcing an investment of over $1.5 billion in India.

Stocks extended gains to fresh record highs this week, as the local election results are seen diminishing risk of political upheaval in national polls next year. The NSE Nifty 50 Index is up 16% so far this year, outperforming most Asian peers as investors bet on strong earnings growth and improvement in domestic consumption as well as the likelihood of Modi winning a third term. Common futures trades by overseas investors target the Nifty 50 and Nifty Bank Index, among others.

Earlier the market regulator had alleged that IIFL Securities failed to segregate client funds, and mixed its own funds with client funds, and misused credit balances in clients’ funds for the benefit of clients having a debit balance. Sebi had alleged that IIFL Securities used pool accounts. Meanwhile, in the latest order, SAT has said there has been no misuse of client funds and «since there is no failure on the part of the appellant to segregate monies of the client nor monies of the client have been misused by the appellant for its own purposes, no penalty could be imposed.» However, it added that IIFL Securities failed to change the nomenclature of the bank accounts of the client as required to be done under the 1993 circular. «Considering the aforesaid that it is only a technical breach, we are of the opinion that in the given circumstances for the two show cause notices, a penalty of Rs 20 lakh in total would be sufficient for the purpose of this case,» it said. The company further clarifies that the issue about the nomenclature of the client accounts has been rectified and the company is compliant with the applicable Regulations/Circulars. At 11.46 am, the scrip was trading 6.6% higher at Rs 125.8 on BSE.

Shriram Finance Ltd. traded 0.22 per cent down at Rs 2029.0 on Friday at around 12:43PM (IST), while the benchmark BSE Sensex advanced 188.25 points to 69709.94. As many as 9,951 shares changed hands on the counter with a total value of Rs 2.03 crore.