Euro zone PMI hits lowest in nearly 3 years, stirs recession worries
The Eurozone is facing a broad-based economic downturn as business activity unexpectedly worsened this month, according to a survey. The flash euro zone Composite Purchasing Managers' Index (PMI) fell to its lowest level since November 2020, indicating a possible slide into recession. The survey also revealed a decline in demand and a reduction in overall headcount. The services industry, which is the dominant sector, experienced a significant drop in demand. The manufacturing sector also contracted, with output and employment levels decreasing. Key Points
Economic TimesRussia’s TMH bids lowest for making 200 Vande Bharat trains in India
Indian engineering major Bharat Heavy Electricals Limited (BHEL) and Kolkata-based Titagarh Wagons tie-up has emerged as the second lowest bidder quoting Rs 139.8 crore per trainset. Key Points
The Indian ExpressIsle of Man bowled out for 10 runs in lowest T20 score
The previous lowest total was registered by the Turkish national team against Czech Republic in 2019, when they bundled out for 21 inside 8.3 overs. Key Points
The Indian ExpressMorning Bid: Buoyant markets hold near year's highs
A look at the day ahead in U.S. and global markets from Mike Dolan Key Points
ReutersRupee extends drop, seen at levels attractive to exporters
The Indian rupee declined on Friday to its lowest level in a month on worries that the U.S Federal Reserve will need to hike rates more than what was previously expected. Key Points
Reuters
India took even more Russian oil in May, crowding out Saudis
India took 1.96 million barrels a day from Russia last month, 15% more than the previous high in April, according to data from Vortexa Ltd. Shipments from Saudi Arabia slipped to the lowest level since February 2021. Key Points
FinancialexpressLIC hits lowest close since listing, down 39%
Shares of LIC closed at their lowest level since listing, at Rs 536.95, on Tuesday. Key Points
FinancialexpressRupee falls below 83 to lowest against US dollar since October 2022
The rupee was at 83.0500 to the dollar by 09:06 a.m. IST, down from 82.8450 on Friday. The 10-year U.S. yield rose to 4.18%, while several Asian currencies were down more than 0.5%. Clearly, it's all about the RBI (Reserve Bank of India), a dealer at a bank said. Key Points
Economic TimesRupee hits three-week low, forward premiums at lowest since 2011
The Indian rupee declined to a three-week low on Thursday, pressured by a strengthening U.S. dollar, while far forward premiums were hovering near the lowest level since 2011. Key Points
ReutersProfessor asks netizens to share their lowest academic scores, sparks chatter
Gaurav Sabnis, an Associate Professor of Marketing at the School of Business at Stevens Institute of Technology asked people to share their academic scores. Many posted about their experiences. | Trending Key Points
Hindustan Times
Formal job additions decline further in November: MoSPI
India's formal job market faced a decline in November, attributed to festive celebrations. Preliminary data reveals a 5% drop in new subscribers to the Employees' Provident Fund (EPF) and a 10.5% decline in the Employees' State Insurance Corporation (ESIC), marking the lowest figures in nearly two years. In contrast, the National Pension Scheme (NPS) experienced a 52% rise in new subscriptions, largely driven by state governments. Overall, formal job additions have dwindled for the fourth consecutive month, highlighting economic challenges. Key Points
Economic TimesMorning Bid: Stocks stall after VIX hits pre-COVID low
A look at the day ahead in U.S. and global markets from Mike Dolan Key Points
ReutersCrude oil prices extend losses after Fed interest rate rise
Brent futures fell 76 cents, or 1.1%, to $71.57 a barrel by 0002 GMT. The global benchmark on Wednesday posted its lowest settle since December 2021. Key Points
FinancialexpressBirths in France in 2023 lowest since World War II. Here's why
Additionally, fewer deaths over the same period translated into a 0.3-percent increase in the overall French population. | World News Key Points
Hindustan TimesOil falls more than 3%, extends losses after US inflation data
By Nicole Jao NEW YORK (Reuters) -Oil prices fell more than 3% on Tuesday, hitting their lowest level in six months amid growing concerns of oversupply and new U.S. economic data signaling softer Key Points
ThePrintStocks gain, Treasury yields fall after U.S. jobs market softens
By Caroline Valetkevitch and Harry Robertson NEW YORK/LONDON (Reuters) -Global stock indexes rose, the dollar weakened and benchmark 10-year U.S. Treasury yields fell to five-week lows on Friday after Key Points
ThePrintMorning Bid: Bond steamroller flattens all
A look at the day ahead in U.S. and global markets from Mike Dolan Key Points
ReutersUS Stocks: Wall Street set for gains after upbeat BofA, J&J earnings
The CBOE Volatility index, also known as Wall Street's fear gauge, slipped to 16.9, its lowest since January 2022. Key Points
FinancialexpressSVB collapse: 3 reasons why US bank crisis could be blessing in disguise for Nifty bulls
The SVB episode has sparked fears of a financial crisis leading to a drop in crude oil price. While WTI sank to its lowest level since December, Brent dipped to its lowest level since early January. As India imports most of its oil requirements, a fall in crude oil rates is seen as a positive for India. Key Points
Economic TimesStocks at record highs, treasury yields fall after US payrolls
By Alden Bentley and Huw Jones NEW YORK/LONDON (Reuters) - Investors stretched record-breaking stock rallies on Friday and U.S. Treasury yields fell to their lowest in a month after not-too-hot, Key Points
ThePrintBonds bask in talk of Fed interest rate cuts
By Tom Wilson LONDON (Reuters) - Treasury yields and the dollar hit multi-month lows on Wednesday after a U.S. Federal Reserve official made fresh hints of interest rate cuts, while stocks gained Key Points
ThePrintMorning Bid: Oil-fueled rally turns to Powell
A look at the day ahead in U.S. and global markets from Mike Dolan Key Points
ReutersGold hits near 4-month low on bets for hawkish Fed strategy
By Deep Kaushik Vakil (Reuters) - Gold prices on Wednesday fell to their lowest in nearly 4 months on bets for interest rates remaining higher for longer, while U.S. Federal Reserve Chair Jerome Key Points
ThePrintUS layoffs rise to highest in over 2 years, job openings in March dip to 9.6 million
US job openings fell to 9.6 million in March, the lowest level in almost two years. Layoffs rose to 1.8 million, the highest since December 2020, while the number of Americans quitting jobs dropped to 3.9 million, the lowest since May 2021. The Federal Reserve increased its benchmark interest rate nine times over the past year to mitigate inflation. The US job market was historically strong, but the higher interest rates are causing the market to lose momentum. Key Points
Economic TimesManufacturing activity climbs to five-month high of 56.9 in February
In February, manufacturing activity in India reached a five-month high due to increased new export orders and sustained domestic demand. The HSBC India Manufacturing Purchasing Managers Index rose to 56.9, with new export orders hitting a 21-month high. External demand was driven by countries like Australia, Bangladesh, Brazil, Canada, China, Europe, Indonesia, the US, and the UAE. Key Points
Economic TimesDollar surges to 11-week high as Fed rate cut bets diminish
By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) -The dollar climbed to its highest in almost three months against other major currencies on Monday as traders clawed back bets the U.S. Key Points
ThePrintIndians may get the highest pay hikes in Asia-Pacific region this year: Survey
In the Asia-Pacific region, Vietnam comes a far second, with a 6.7% median pay hike expected in 2024 (6.8% in 2023), followed by Indonesia with 6.5% (6.4% last year), according to the survey. Employees in Japan are likely to get the lowest increment at 2.5% (2.7% last year). Key Points
Economic TimesUK economy shrinks, raises risk of recession
It was the first time since July that GDP had shrunk on a month-by-month basis. Sterling fell by about a third of a cent against the US dollar and was weaker against the euro too. Investors added to their bets on the BoE starting to cut interest rates in June 2024, and the yield on 10-year British government bonds fell to its lowest since May. Key Points
Economic TimesOil falls 4% as build in gasoline stocks fuel demand concerns
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell about 4% on Wednesday to their lowest settlements since June, as a larger-than-expected rise in U.S. gasoline inventories exacerbated worries Key Points
ThePrintStocks, gold gain as investors stay cheery on rate outlook
By Amanda Cooper LONDON (Reuters) -Global equities rose on Wednesday after U.S. employment data reinforced investors' convictions that rates may soon start to fall, which has pushed down bond yields Key Points
ThePrintStocks, US yields fall as investors gauge economic health
By Chuck Mikolajczak NEW YORK (Reuters) - A gauge of global stocks declined for a second straight session and U.S. Treasury yields fell on Tuesday, as investors attempted to assess the policy path of Key Points
ThePrintFinancing the growth in Bharat: 4 small finance banks with upside scope of up to 38%
It might surprise many of you, ask your driver, your help at home, or the small chai shop owner how much interest he pays when he or she takes an unsecured loan taken in the private loan market. He or she might be paying four to five times more than the interest rate which any regular bank charges on an unsecured loan. That is what led to the birth of microfinance companies, now many of them are small finance banks. They are providing lending at the lowest end of the pyramid. Their interest rates were higher than normal banks would charge, but would surely much lower than what private money lenders in these parts of the country charges. That is where the opportunities are present for these small finance banks. After a phase of tough regulatory challenges, they have emerged stronger. Key Points
Economic TimesBonds enjoy Fed rate cuts talk
By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) - Treasury yields and the dollar hit multi-month lows on Wednesday after a U.S. Federal Reserve official made fresh hints of interest rate Key Points
ThePrintOil prices hit 4-month low on concerns about U.S., Chinese economy
By Stephanie Kelly NEW YORK (Reuters) -Oil prices dropped more than 5% on Thursday to their lowest in four months, as investors worried about global oil demand following weak data from the U.S. and Key Points
ThePrintAsian shares hit 11-month lows; focus on US economic data
MSCI's broadest index of Asia-Pacific shares outside Japan was 0.28% lower at 473.37, having touched 472.73 - the lowest since November 2022. The index is down 3% for the month and set for its third consecutive month in the red. Japan's Nikkei fell nearly 1%. Key Points
Economic Times
Births in China tumble 10% to hit lowest on record
China had just 9.56 million births in 2022, according to a report published by the National Health Commission. | World News Key Points
Hindustan TimesForeign holdings in Reliance rises from six-year low on spinoff
Foreign ownership in billionaire Mukesh Ambanis company rose to 22.55% in the three-months ended June after dipping to the lowest level since 2017 earlier this year, according to the latest shareholding filed by the firm on Thursday. A recent special session that saw Jio Financial Services Ltd. valued at about $20 billion also helped sentiment in Reliance, which has risen more than 26% from a low in March. Key Points
Economic TimesLondon new home sales tumble to lowest since 2012 as rates weigh: Report
London new-home sales have fallen to their lowest level in over a decade, with just over 3,000 new homes sold between April and June. The decrease in sales is attributed to surging borrowing costs and a decrease in overseas buyers, particularly from Hong Kong. Key Points
mintRupee's opening rally falters on dollar demand from importers, speculators
The Indian rupee rose on Thursday, helped by the U.S. currency's slide to its lowest in more than a year, but was off its opening highs on dollar demand from importers and speculators. Key Points
ReutersGold rises on softer dollar, yields ahead of US inflation data
Gold prices rose on Wednesday after the dollar and bond yields retreated as investors awaited U.S. inflation data that could offer more cues on the Federal Reserve's rate-hike policy path. Key Points
ReutersOil prices slip on global economic slowdown fears
By Florence Tan SINGAPORE (Reuters) - Oil prices slipped in early Asian trade on Monday as global macroeconomic headwinds and possible further interest rate hikes from the U.S. Federal Reserves offset Key Points
ThePrintHighest dividend-yielding small-cap shares in June; these 15 shares have paid up to 35% yields to shareholders
T.V. Today Network and Bhansali Engineering Polymers were the highest dividend yielding small-cap shares over the past twelve months, according to an Axis Securities report. Key Points
FinancialexpressPakistan growth slows sharply as economic challenges mount
International Business News: Pakistan's GDP grew provisionally by 0.29% in the fiscal year ending June 30, 2021, marking one of the lowest growth rates in country's history. The e Key Points
Times Of IndiaAsian stocks slide to two-month low on debt ceiling jitters
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.84% to 503.93, the lowest since March 21, and was on track for second straight month of losses. Key Points
FinancialexpressGR Infra lowest bidder for 2 NHAI projects worth Rs 1,613 cr in Karnataka
GR Infraprojects Ltd on Tuesday said it has emerged as the lowest bidder for two NHAI projects worth Rs 1,613.84 crore. The financial bids were opened on March 28, 2023. Key Points
Economic Times
Rupee gains 32 paise to close at 82.27 against US dollar
In intra-day trade, the rupee touched a high of 82.08 and hit the lowest level of 82.41 against the greenback. Key Points
FinancialexpressGold loses ground as further rate hike bets boost U.S. dollar, yields
By Seher Dareen (Reuters) - Gold prices dropped to their lowest in eight weeks on Friday, pushed down by a stronger dollar and bond yields as the market braced for more interest rate hikes by the U.S. Key Points
ThePrint