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
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
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
MUMBAI: US records management services company Iron Mountain is in advanced talks to acquire data centre service provider Web Werks India. Web Werks is expected to attract a valuation of $180-200 million, said three people with direct knowledge of the matter. “Currently, Iron Mountain is doing due diligence and have signed exclusivity clause with the … Read more
An accelerating decline in the US dollar is reverberating around the world, adding fuel to a global momentum rally that has boosted prices for everything from technology stocks to gold. The US dollar index, which measures the greenback against six other major currencies, is down around 9% from its March highs and is on track … Read more
Berlin: The plot thickens in the spectacular collapse of payment provider Wirecard: the Austrian man at large over Germany’s worst financial fraud scandal may also have had links to secret services. Jan Marsalek, Wirecard’s former chief operating officer, has vanished since the technology company was busted for what accountants described as an “elaborate and sophisticated … Read more