The regulator in January came out with guidelines for entities operating as investment advisers in IFSC and said that any recognised entity desirous of operating in IFSC as an IA, may form a company or LLP (limited liability partnership) to provide investment advisory services. … [Read more...] about SEBI asks investment advisers operating in IFSC to have $700,000 net worth
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Nevertheless, it’s very likely that central banks will once again ride to the rescue. For several reasons: one, they have done so for far less reason; two, they will say it is necessary to keep confidence up; and three, it takes several months for a monetary stimulus to be effective, so cutting early may help the economy recover once the impact of the virus ebbs -- of course, that will also fuel the mother of all market rallies then. More importantly, central bank action may be needed to ensure that small businesses do not fold up and that banks relax their norms for classifying loans as bad. … [Read more...] about Moneycontrol Pro Weekender: Time to pay the bill?
The chart shows that China’s re-balancing away from investment and export-driven growth is well underway. In 2018, the main driver of growth was consumption, which contributed 4.6 percentage points to the estimated 6.5 percent GDP growth. But December’s contraction in imports suggests that all is not well with consumption demand in China. That has already been shown by car sales, which contracted in 2018 for the first time since the nineties. … [Read more...] about Opinion | China faces two options: Domestic stimulus or trade truce with US
That said, global growth fears are very strong, with a majority of investors expecting global growth to slow in the next 12 months, although most think a recession is unlikely. Investors are saying that a ‘secular stagnation’ environment is most likely in the next two-or-three quarters. With lower global growth, inflation expectations too have declined, allowing investors to discount a dovish Fed. That is why they now think the dollar is very overvalued, the most since June 2002, while they also think emerging market currencies are the cheapest since October 2004. … [Read more...] about Quick Take | Fund manager survey finds emerging markets favourites against backdrop of slowing growth