"There's been so much speculation about the contents of the deal... we know the broad outlines but it's not even clear whether the full terms of the deal will be made public," said Andrew Watkins, senior analyst at the International Crisis Group consultancy. … [Read more...] about Afghanistan’s future in the balance as US, Taliban sign deal
Why rights issue at discount
The GDP data, announced on Friday, indicate that the Indian economy continues to be very weak. The second advance estimates for the current fiscal year keep real GDP growth at 5 percent, the same as in the first advance estimates. But there’s a twist -- the GDP growth rate for 2018-19 had been revised down from 6.8 percent to 6.1 percent. So the second advance estimate’s 5 percent growth rate is on top of a 6.1 percent growth, while the first advance estimates 5 percent growth rate was on top of a 6.8 percent growth. In other words, growth is now estimated to be weaker than earlier. … [Read more...] about Moneycontrol Pro Weekender: Time to pay the bill?
The Nikkei India Composite PMI Output index, a yardstick of private sector economic activity both in the manufacturing and services sectors, fell to 53.6 in December 2018 from a 25-month high of 54.5 in November. Since any reading above 50 indicates expansion from the previous month, the composite index shows economic activity remained strong in December, although the momentum slowed. While the New Year has started with worries about slowing global growth, the PMI survey says the Indian economy has so far remained relatively immune. … [Read more...] about 100-word take | PMI shows Goldilocks moment for Indian economy
On January 4, at a roundtable with former Fed bosses Janet Yellen and Ben Bernanke, Powell said he’s listening closely to the market’s fears of a slowdown, that he’ll change policy if there’s a slowdown and the changes in policy could include the timeline of shrinking the balance sheet. The markets whooped with joy. An upbeat TV analyst hit the nail on the head when he dubbed the rally as ‘Goldilocks with a capital J’ -- a reference to Jay Powell. That’s because Powell signalled that the Fed ‘put’, the policy of backstopping the markets initiated by former Fed Chairman Alan Greenspan, is alive and well. … [Read more...] about Opinion | Central banks’ ride to rescue the markets once again
The markets are betting that this means more stimulus from China and some furious backpedalling from the US Federal Reserve and the European Central Bank. And why not---the years after the financial crisis have proved again and again the central banks rush in to the rescue at the first hint of trouble. … [Read more...] about Opinion | Can Trump heroically bring the world economy back from the brink?