Trade war threatens best emerging market bond gain in decade

Representative image After closing at an all-time low against the US dollar on Thursday, the rupee recovered some lost ground to trade at 77.31 against the US dollar in morning trade on Friday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close. On Thursday, the rupee plunged 25 paise to close at its lifetime low of 77.50 against the US currency. Forex traders said the Indian Rupee could see range-bound trade against the US dollar as broad dollar strength could offset losses from a rate hike by the Indian central bank next month due to rising domestic inflation. India's headline inflation galloped for a seventh straight month to touch an 8-year high of 7.79 per cent in April on rising food and fuel prices, raising the odds of an interest rate hike by the RBI early next month to … [Read more...] about Indian rupee rebounds from all-time low; rises 19 paise to 77.31/USD

Representative image The soaring dollar is propelling the global economy deeper into a synchronized slowdown by driving up borrowing costs and stoking financial-market volatility -- and there’s little respite on the horizon. A closely watched gauge of the greenback has risen 7% since January to a two-year high as the Federal Reserve embarks on an aggressive series of interest-rate increases to curb inflation and investors have bought dollars as a haven amid economic uncertainty. A rising currency should help the Fed cool prices and support American demand for goods from abroad, but it also threatens to drive up the import prices of foreign economies, further fueling their inflation rates, and sap them of capital. That’s especially worrying for emerging economies, which are being forced to either allow their currencies to weaken, intervene to cushion their slide, or raise their own interest rates in a bid to buttress their foreign exchange levels. ALSO READ: The Dollar … [Read more...] about Dollar’s strength pushes world economy deeper into slowdown

Indian markets remained bearish for the the second consecutive week ended May 13 as the benchmark share indices lost nearly 4 percent. Persistent worries over rising inflation, possibility of further rate hikes by global central bank, China lockdown and weakening rupee kept the investors on the edge. During the last week, BSE Sensex declined 2,041.96 points (3.72 percent) to close at 52,793.62, while the Nifty50 shed 629.05 points (3.83 percent) to end at 15,782.20 levels. However, in the month of May Sensex and Nifty have lost more than 7 percent each. During the week gone by, all the sectoral indices were in the red with BSE Metal and Power indices falling 13 percent each. BSE Telecom index shed 6.7 percent and Realty index declined 5.8 percent. In broader market, the BSE Mid-cap index lost 5.6 percent, Small-cap index shed 6.5 percent and Large-cap Index declined 4.4 percent. In absence of any major event, market participants will be closely eyeing the performance of … [Read more...] about Dalal Street Week Ahead | LIC listing, earnings among 10 key factors that will keep traders busy

Share to Twitter Share to Linkedin China this week reported a 47% plunge in auto sales in April from a year earlier as Covid-19 lockdowns wreaked havoc in the world’s largest auto market and a major global manufacturing hub for auto parts and electric vehicles. Amid business uncertainties in the wake of the country’s Covid policies, “one thing remains certain,” China’s state-run Xinhua news agency said yesterday. “China will stick to its dynamic zero-COVID policy.” So what’s ahead for the global auto industry? I spoke on Tuesday with Bill Russo, the founder and CEO of Automobility, a Shanghai-headquartered strategy and investment advisory firm. The 18-year China business veteran and former head of North East Asia at Chrysler had been on the ground in Shanghai through this year’s lockdowns until last week, when he returned home to the United States. Industry supply chains will remain constrained for the foreseeable future, fueling inflationary pressure, … [Read more...] about ‘Gigantic’ Impact From China Lockdowns To Hit Auto Industry Globally: Automobility’s Bill Russo

Share to Twitter Share to Linkedin You see them all the time–generational labels assigned to age cohorts suggesting shared beliefs, behaviors and values. They are used in marketing and advertising strategies as well as in articles and research. If they are so prominent, then why are they a problem? Because the assigned characteristics are trivial, misleading and often lead to bigotry. Age-bashing and generational finger-pointing negatively influence societal attitudes from healthcare to employment. And it goes both ways. It’s ugly, to be sure. But it’s also driven, in part, by the fact that current culture has been duped into thinking these labels have any real meaning. They don’t. This irrelevance is why Dr. Philip N. Cohen, Professor of Sociology at the University of Maryland, College Park, is keen on eradicating them. Last year, Dr. Cohen sent an open letter to Pew Research Center, imploring them to refrain from using generational labels that do … [Read more...] about Generational Labels: Why It’s Time To Put Them To Rest

- A + A SYDNEY (May 16): Asian share markets were struggling to sustain even a minor rally on Monday, after shockingly weak data from China underlined the deep damage lockdowns were doing to the world's second-largest economy. China's April retail sales plunged 11.1% on the year, almost twice the drop forecast, while industrial output dropped 2.9% when analysts had looked for a slight increase. The risks had been to the downside, given new bank lending in China hit the lowest in nearly four and half years in April. China's central bank also disappointed those hoping for a rate easing, though Beijing on Sunday did allow a further cut in mortgage loan interest rates for some home buyers. News that Shanghai was relaxing some of its lockdown restrictions offered only cold comfort to investors. Chinese blue chips shed 0.4% in reaction while commodity currencies took a knock led by the Australian dollar, which is often used as a liquid proxy for the yuan. MSCI's … [Read more...] about Asia stocks struggle after dire China data

FIND YOUR SPOT Joggers, bikers and picnickers soak in nature’s beauty under a canopy of fire trees along University Avenue of the University of the Philippines campus in Diliman, Quezon City, on Sunday morning, hours before rain drenched parts of Metro Manila. —NIÑO JESUS ORBETA MANILA, Philippines — The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) has retained the most relaxed Alert Level 1 status for the entire Metro Manila (the National Capital Region or NCR) and various provinces, cities and municipalities from May 16 to 31, Malacañang announced on Sunday. Communications Secretary Martin Andanar, who is also acting presidential spokesperson, said the task force approved the recommendations for the alert levels last Saturday. He quoted the IATF secretariat as saying that following the new classifications, there are already 79 provinces, highly urbanized cities (HUCs) and independent component cities (ICCs), as well as 160 other cities … [Read more...] about Metro Manila, other areas stay under Alert Level 1

Big shocks to the global economy, such as Russia's invasion of Ukraine, understandably capture the most attention. But a new worldwide pattern of "little fires everywhere" may be equally consequential for longer-term economic well-being. Over time, these small fires can coalesce into one that is just as threatening as the initial large fire that acted as the catalyst. In addition to causing widespread death and destruction, and displacing millions of people, the Ukraine war continues to stoke strong stagflationary winds throughout the global economy. The resulting damage -- whether in the form of higher food and energy prices or new supply-chain disruptions -- cannot be easily or rapidly countered by domestic policy adjustments. For most countries, the war's immediate economic consequences include higher inflation (which erodes purchasing power), lower growth, increased inequality and greater financial instability. The multilateral system, meanwhile, now faces greater obstacles to … [Read more...] about Beware a global economy with many little fires

Gautam Adani, Chairman of the Adani Group with Holcim CEO Jan Jenisch (image courtesy - Twitter) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The Adani Group said on May 15 that it has entered into definitive agreements to acquire Swiss cement major Holcim Ltd.’s businesses in India - Ambuja Cements and ACC Ltd , in a deal that propels the infrastructure conglomerate helmed by billionaire Gautam Adani as the second-largest cement maker in the country. The deal, which will take place through an offshore special purpose vehicle, values the Holcim stake and open offer consideration for Ambuja Cements and ACC at about $10.5 billion, making this the largest ever acquisition by Adani, and India’s largest ever M&A transaction in the infrastructure and materials space, according to a company statement. With this, Adani now … [Read more...] about Adani to buy Holcim’s stake in Ambuja Cements and ACC for $10.5 billion to seal largest infra and materials deal in India

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Tata Motors has launched a long-range version of the Nexon EV in the Indian market on May 11 called the Nexon EV Max which is top of the line among subcompact sport utility vehicles ( SUV s). Experience EVs at their MAX with the new Nexon EV MAX. India’s best-selling EV now is even more electrifying with enhanced range, safety, performance and luxury to give a truly MAX experience. Book Now - https://t.co/M6PyRjs3oz #NexonEVMAX #MovesYouToTheMAX pic.twitter.com/kg8qkn4JIn — Tata Passenger Electric Mobility Limited (@Tatamotorsev) May 11, 2022 Close The new upgraded electric vehicle (EV) has a larger battery pack and longer range. The Nexon EV Max will have a 40.5 kWh battery pack, up from 30.3 kWh for the existing model Nexon EV. The real-world range … [Read more...] about Tata Motors unveils subcompact sport utility vehicle Nexon EV Max in India: Here are the key features & highlights