Mauritian Wadia group may play role in Go First saga

Mauritian Wadia group may play role in Go First saga

New Delhi: A Mauritius-based Wadia group company that together with its affiliates indirectly holds a stake in Britannia Industries could take centre stage in a face-off between Go First‘s bankers – some of whom want collateral provided by that company overseas for loans taken by the airline to be included in a common security pool, … Read more

A single bet on Deutsche Bank’s credit default swaps seen behind Friday’s rout

A single bet on Deutsche Bank’s credit default swaps seen behind Friday’s rout

Regulators are singling out a trade on Deutsche Bank AG’s credit default swaps that they suspect fuelled a global selloff on Friday. It was a roughly ₹5 million ($5.4 million) bet on swaps tied to the German bank’s junior debt, according to people familiar with the matter, who said regulators have spoken to market participants … Read more

Gold eases on steady dollar; market focus on banking risks

Gold eases on steady dollar; market focus on banking risks

Gold prices edged down on Monday as a steady U.S. dollar made bullion less affordable for overseas buyers, while authorities attempted to assuage investor fears over a potential liquidity crisis in the global banking sector. FUNDAMENTALS * Spot gold was down 0.1% at $1,975.76 per ounce, as of 0104 GMT. U.S. gold futures fell 0.3% … Read more

Deutsche Bank sees India stocks beating S&P 500 as earnings grow

Deutsche Bank sees India stocks beating S&P 500 as earnings grow

Stocks in India are likely to outperform US peers in the coming quarters, boosted by better economic prospects and stellar earnings growth, according to Deutsche Bank AG. “Indian macros are firing on all cylinders,” Mayank Khemka, chief investment officer for India at the bank, said in an interview, pointing to economic data ranging from power … Read more

JPMorgan, Deutsche and MUFG’s entry to give Gift City a big boost

JPMorgan, Deutsche and MUFG’s entry to give Gift City a big boost

The Gift City in Gujarat is set to get the biggest push yet in becoming the Indian hub for global finance, as Prime Minister Narendra Modi is likely to formally launch the operations of JPMorgan Chase, Deutsche Bank and Japan’s MUFG at the International Financial Services Centre (IFSC) on July 15, said three people familiar … Read more

Why EMs like India may remain resilient when a US recession hits

Why EMs like India may remain resilient when a US recession hits

Emerging markets are well positioned to stare down a US recession and may even be able to lure investors their way. That’s the message from money managers including JPMorgan Chase & Co. and Deutsche Bank AG even as fears of a contraction in the world’s largest economy spark a dash into Treasuries and other haven … Read more

Here’s what you need to know about America’s super-hot inflation

Here’s what you need to know about America’s super-hot inflation

The government reported Friday that consumer prices climbed 8.6% over the year through May, the fastest rate of increase in four decades. Americans are confronting more expensive food, fuel and housing, and some are grasping for answers about what is causing the price burst, how long it might last and what can be done to … Read more

FPIs keep selling, May tally at $4.6 billion

FPIs keep selling, May tally at $4.6 billion

Foreign investors net sold Indian equities worth over $4.6 billion (₹35,000 crore) in May so far – the highest in emerging markets – amid concerns over the possibility of a recession in the US, rising interest rates and a firming dollar. This flow included their activity both in secondary and primary markets. Only on the … Read more

Investors cast doubt on global recovery as Delta dims outlook

photo

LONDON: A drubbing in world equity markets and a huge flight to safety into US Treasuries this week suggests investors now doubt that a much-anticipated return to post-COVID normality is feasible any time soon. Data from the United States and China, which account for more than half of world growth, suggests a slowdown in the … Read more

Oil row flares as UAE rejects ‘unjust’ OPEC+ output deal

photo

The United Arab Emirates on Sunday criticised the current oil output deal among OPEC+ alliance members as unjust, escalating a row that could derail the energy market’s post-pandemic recovery. The UAE‘s push to increase its production baseline is reported to have derailed last week’s meeting of the alliance of oil-producing countries, and also sets it … Read more