So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Terming the RBI action on Wednesday as a "pleasant surprise", analysts today cautioned that possibility of a rate hike in the future cannot be ruled out. Urijit Patel committee's report on monetary policy would clear the air on RBI's future stand, they added.
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
According to a survey of expatriates across four continents, conducted by global banking major HSBC, Singapore, the United States and the United Arab Emirates have emerged as the top three most popular destinations among expats.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
The move is aimed at reducing costs and improving efficiency.
The task force will look at emerging markets, technology, regulatory and monetary policies, loss of trust in financial services, and financial inclusion.
UBS reduced its Nifty target to 8,600 by December from 9,200.
This is the lowest amount of funds held by Indians in the Swiss banks ever since the Alpine nation began making the data public in 1997.
There are still bumps in the road ahead for Swiss banks.
Wiping off nearly Rs 4 lakh crore of investors' wealth during the day, benchmark Sensex crashed on Friday.
Many requests are pending with the Swiss authorities.
Income Tax dept will launch over 100 fresh prosecution complaints.
A raft of banks could face tough questions in the sweeping US crackdown on alleged corruption in global soccer as prosecutors review how much they knew about millions of dollars in bribes flowing through the US banking system to accounts around the world.
Raising the issue during Zero Hour, he said SBI has signed an MoU pledging one of the single largest loans to a corporate house despite five international banks refusing to lend to the Adani project.
Currently, foreign lenders are present in India only through branches or representative offices.
Delaying action on climate change will hurt growth: Global CEOs.
Ratnakar Bank to absorb RBS' employees involved in three businesses
The RBI is working to nudge large foreign banks with 30 or more branches in India to get incorporated locally.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
A leading Chinese bank may have been used by Palestinian terrorist group Hamas and its allies to launder money for their global operations,according to Israeli intelligence reports.
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Bank has cited trend of global easing and weak growth
The muted CPI inflation print at 5% earlier this week, followed by a similar WPI number released Wednesday, seems to have spurred India's central bank into action, is how the economists are reading into Reserve Bank of India governor Raghuram Rajan's 25 basis point cut in repo rate.
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
Markets
The value of the index, adjusted from its all-time high for the relative loss in the rupee's value, is close to sub-10,000 levels.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as Britain's Asia-focused Standard Chartered said they would try to support London's financial sector
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
Indian frontline benchmarks - the S&P BSE Sensex and the Nifty50 - have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) - the third such hike this year - and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 - 3.25 per cent and is highest since January 2008.
The list includes 1,195 Indians with funds totalling $4.1 billion.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
Chances of a rate cut in April improve if core inflation continues to ease, growth falling below the projected 7.2% for FY19 and if the global trade slowdown exacerbates.
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.'
Industrial output fell 3.2 per cent in November.
History would indicate that a recession is not that far off.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
Markets closed the day in green on favourable domestic factors,
Investment banking giant Goldman Sachs has named housing loan major HDFC among world's seven best companies from the financial services space to sustain a competitive advantage in the long term, alongside global giants like Standard Chartered, HSBC and Morgan Stanley.
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