Eco/Invest/Demography

Half the world's banks are too weak to survive a downturn: McKinsey

International News       Oct 22, 2019

  More than half of the world’s banks are too weak to survive a downturn, according to a survey from consultancy McKinsey & Co.   A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, McKinsey said...

India's household wealth more than doubles to $12.6 trn in 2019: Report

Indian News       Oct 22, 2019

  Mumbai: In a year when the overall economic growth decelerated to a five-year low of 5.8 percent, a report has claimed that household wealth more than doubled $12.6 trillion in the calendar year 2019.   Total wealth held by the households in the country had stood...

Number of 'unicorn' startups in China exceeds US number for first time

      Oct 21, 2019

  China now has more privately-held start-ups valued by investors at over $1 billion than the US, a report said Monday.   There were 206 Chinese firms out of a global total of 494 ultra-valuable start-ups -- known as "unicorns" -- in June 2019, according to the...

Few Hong Kong firms have riot insurance so they’ll be paying for protest damages

International News       Oct 21, 2019

  Hong Kong: Hong Kong’s businesses will likely foot the bill for vandalism inflicted over the past four months during the territory’s most violent protests in living memory as few of them bought insurance coverage for riot damage, industry insiders said.   Businesses big and small have...

Boris Johnson sends unsigned letter to EU asking for Brexit delay

International News       Oct 20, 2019

  London:  Prime Minister Boris Johnson sent an unsigned letter to the European Union requesting a delay to Britain's exit from the bloc and also said he did not want the extension after his latest Brexit setback in parliament on Saturday.   Johnson had previously said he...

Many countries have cautioned on rushing into crypto currencies, says Sitharaman

Indian News       Oct 20, 2019

  Washington: Many countries have cautioned against rushing into crypto currencies, Union Finance Minister Nirmala Sitharaman said on Sunday, as Facebook's proposed virtual currency Libra became a buzzword during the annual meeting of the International Monetary Fund and the World Bank.   In fact, Reserve Bank of...

FPIs stay bullish on India, pour in Rs 5,072 cr in October so far

Indian News       Oct 20, 2019

New Delhi: Foreign portfolio investors (FPIs) have infused a net sum of Rs 5,072 crore into the Indian capital markets in October so far amid the government's efforts to revive domestic demand.   In the preceding month, FPIs had invested a net Rs 6,557.8 crore in...

Will prepare blueprint for companies moving out of China: FM Sitharaman

Indian News       Oct 20, 2019

New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday said she will prepare a blueprint for international companies that are looking beyond China to make India as their preferred investment destination.   She said industry leaders who are contemplating getting their businesses out of China are...

UK heading for ‘fairly hard’ Brexit if Johnson deal passes

International News       Oct 18, 2019

  London: Britain will be on course for more distant economic ties with the European Union, making the country poorer, if Prime Minister Boris Johnson wins parliamentary backing for the Brexit deal he clinched with Brussels on Thursday.   Compared with the deal his predecessor Theresa May...

Typhoons Faxai, Hagibis, not likely to materially impact Japanese non-life insurers’ capitalisation

International News       Oct 18, 2019

  Hong Kong: The recent mega-typhoons in Japan are unlikely to affect the financial stability of the country’s three major non-life insurers due to their appropriate catastrophe risk management and strong capitalization levels, according to a new AM Best commentary.   In a new Best’s Commentary, titled,...

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