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Clearing Corp of India (CCIL), paving the decks for billions of dollars of trade in Indian sovereign bonds routed through London lenders that needed a mutually beneficial deal to commit personal funds and effectively discharge their custodian role. The MoU between the Reserve Bank of India (RBI) and the Bank of England (BoE), while acting as an actionable template for other regulatory regimes uncertain about oversight rights over CCIL, also helps establish a framework robust enough to accommodate the potential $25 billion in incremental inflows Indian sovereign bonds are likely to receive by mid-2025 after their inclusion in JPMorgan's keenly tracked global index. Relief for UK Banks in India «The MoU establishes a framework for the BoE to place reliance on RBI's regulatory and supervisory activities while safeguarding UK's financial stability,» the RBI said in a statement Friday. «The MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities and the BoE's commitment to deference to other regulators' regimes.» ET had reported on November 28 that the RBI and UK regulators had made significant progress on a new MoU for the treatment of the CCIL and that the BoE would likely communicate a «hands-off» approach on potentially contentious issues, such as rights of audit over the Indian clearing house. Investor & Custodian The move is a relief to UK-based banks Standard Chartered, Barclays and HSBC, which are themselves large players in the domestic bond and derivatives markets and are also custodians of foreign investment flows into India.

By Kate Abnett

Lana Del Rey pays homage to John Denver by covering his 1971 classic «Take Me Home, Country Roads» in a one-off single. Del Rey, known for her dreamy vocals, beautifully interprets the Americana favorite, infusing it with a reflective and haunting quality.

After three consecutive La Niña winters, a moderate El Niño is now well established in the central Pacific Ocean.

I previously discussed a slate of recessionary indicators with high correlations to recessionary onsets. However, as we head into 2024, many Wall Street economists predict a “soft landing” or “no recession” outcome for the economy.

economy grew by 7.6% year-on-year in real terms in the July-September quarter of FY2024, surpassing projections by all domestic and international agencies. This follows the 7.8% expansion registered in the first quarter. The fact that this has been achieved amid a weak and uncertain global backdrop shows the resilience of the economy. Importantly, this growth performance was driven by construction and industry.

Federal Reserve Chair Jerome Powell participates in a fireside chat with Spelman College President.

Titan submersible saw millions of dollars worth of Canadian military equipment and personnel deployed in the search, estimates suggest.The figure, calculated by Global News with data provided by the government, gives an idea of the financial value of Ottawa’s involvement in the search for the lost vessel, which suddenly imploded while on an expedition to the Titanic wreckage in June.The operation fell within the budgets of the departments involved – Fisheries and Oceans Canada and the Department of National Defence (DND) – spokespeople for both told Global News. Officials say that means DND did not incur incremental, or additional, costs while Fisheries and Oceans Canada – which oversees the Canadian Coast Guard (CCG) – said it does not track expenditures incurred from specific search and rescue cases.“Responding to incidents is part of our overall daily operations, and as a result it would be difficult to calculate and allocate costs on a case-by-case basis,” the fisheries spokesperson told Global News.“Canadian Armed Forces’ (CAF) resources respond to incidents of distress.… The goal is to save lives and CAF search and rescue services are provided free of cost to those in peril; they do not function on a cost-recovery basis,” the DND spokesperson said.But based on the resources deployed in the search, the time they were deployed and their average hourly operating costs, the total value of the recovery operation appears to be around $3,125,226 to $3,130,576.The search for Titan – a deep-sea submersible operated by American tourism and expeditions company OceanGate – captivated the world’s attention following its sudden disappearance on June 18.The U.S.

Chinese e-commerce firm. Alibaba's U.S. shares slipped 1.5% to $73.7 in premarket trading, tracking a fresh one-year low.

Investing.com -- Traders look ahead to the start of the final month of trading in 2023 following a positive November for stocks on Wall Street. Elsewhere, Tesla (NASDAQ:TSLA) reveals a price tag for the cheapest model of its futuristic-looking Cybertruck that is well above boss Elon Musk's initial estimates, and a private survey shows Chinese manufacturing activity unexpectedly expanded last month.

November was a breathtaking month for stocks, with the S&P 500 surging 9% led by Information Technology. It was the fourth-best monthly gain on the S&P going back to 1950. Given the huge surge, there are worries that December's usual gains will be taken away from. The Stock Trader's Almanac ran the numbers and said this is usually not the case.

WhiteOak Mutual Fund announced the launch of the WhiteOak Capital Large & Mid Cap Fund, an open-ended equity scheme investing in both large-cap and mid-cap stocks. The scheme opened for public subscription on December 01, 2023, and will close on December 15, 2023.

Investing.com -- Traders look ahead to the start of the final month of trading in 2023 following a positive November for stocks on Wall Street. Elsewhere, Tesla (NASDAQ:TSLA) reveals a price tag for the cheapest model of its futuristic-looking Cybertruck that is well above boss Elon Musk's initial estimates, and a private survey shows Chinese manufacturing activity unexpectedly expanded last month.

emergency SOS satellite service for free, reported HT Tech. However, the challenge of determining its long-term costs remains a significant question. Gruber highlights Apple's careful strategy, suggesting that the company is taking a cautious approach by gradually extending the free period.

HONG KONG—Investing in China has never been this perilous. When global investors flocked to the country during its economic boom in the past decade, geopolitical risks were at the back of their minds. Such risks are now a top consideration for buyers of Chinese stocks, bonds and stakes in private companies—and are turning many people off investing in China.

Indian Railways will be installing an AI-based surveillance system to prevent elephant deaths on railway tracks. These surveillance system will be installed on 700 kilometres of route passing through forest areas. Announcing this, Railway Minister Ashwini Vaishnaw said on Wednesday said, “We have identified forest areas in Assam, West Bengal, Odisha, Kerala, Jharkhand and some parts of Chhattisgarh and Tamil Nadu which are home to elephants." The Minister also said that the technology, which was created by the railroads in association with a few start-ups, was implemented on a 150-kilometer section of Assam last year and has shown to be quite beneficial.

GDP print came above expectations on Thursday driven by robust growth in the manufacturing, mining and construction sectors. However, growth in the agriculture segment cooled due to an erratic monsoon. India's Q2 GDP grew 7.6 per cent, significantly exceeding the expectations.

Investing.com-- Chinese manufacturing activity unexpectedly rose back into expansion in November, a private survey showed on Friday, as  a mild increase in domestic demand helped offset a persistent decline in overseas orders.

Economists had, in an ET poll, estimated a median 6.7% rise in gross domestic product (GDP) in the quarter. The second-quarter GDP growth is just shy of 7.8% clocked in the June quarter and significantly higher than the 6.2% recorded in the September quarter last year. Growth in the first half of FY24 was 7.7% compared with 9.5% a year earlier. «Manufacturing sustained expansion, endorsed by IIP (Index of Industrial Production) and core infra sector growth,» said chief economic advisor V Anantha Nageswaran. The higher-than-expected growth triggered a raft of upgrades in full FY24 growth estimates. «The latest numbers indicate that the economic recovery is on track despite the adverse geopolitical situation,» said Sunil Kumar Sinha, principal economist, India Ratings.

The Federal Reserve’s preferred inflation measure cooled last month, the latest sign that price pressures are waning in the face of high interest rates and moderating economic growth

General Motors is losing money on every electric vehicle it sells, but the company says it’s on track to generate mid single-digit pretax profit margins in 2025 as it produces more higher margin EVs, works out kinks in battery manufacturing and sees ba...