Wed, Nov 29, 2023
The risk for investors lies in the rich valuations of these banks. HDFC and ICICI trade at a price-to-book (P/B) ratio, a metric that compares stock price with underlying assets, of 3, while Axis trades at 2.3 and BCA at 5.
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Prosus says share buybacks benefit shareholders because the Tencent stake, now worth $98 billion, is worth about 30 per cent more than Prosus itself.
The governments have raised 152.3 billion yuan ($21.05 billion) via such bonds so far in 2023 to replenish the capital of small and medium-sized banks, according to data from the official China Electronic Local Government Bond Market Access.
Tue, Nov 28, 2023
As per the forecasts, the consumer staples and software sectors are set to post earnings growth of 40 per cent and 30 per cent, respectively.
The global office market has been rattled by the bankruptcy of WeWork, darkening the outlook for the largest business hubs, where rising vacancies are already hitting investors.
The fast-fashion giant's moves to go public comes at a time when the market for initial public offerings is struggling to rebound after a string of lacklustre stock market debuts in the U.S.
Mon, Nov 27, 2023
According to Counterpoint Research, there were more than 700 phone brands in 2017 and that number has plunged to about 250 in September.
Sun, Nov 26, 2023
There is a low risk to India from the avian influenza, H9N2, cases reported in China as well as the clusters of respiratory illness, the Union health ministry has said.
Thu, Nov 23, 2023
The Philippine foreign ministry and the national security adviser's office did not immediately respond to a request for comment.
The speaker said that global monitoring for mycoplasma pneumoniae had been at a low over the past three years and epidemics were cyclical, occurring every three to seven years.
Wed, Nov 22, 2023
Most economists expect the global economy to avoid a recession but have flagged possibilities of "mild recessions" in Europe and the UK.
Tue, Nov 21, 2023
At $7.1 billion, the fund is Bain Capital's biggest to date for Asia and also the region's largest private equity fund raised this year, according to Preqin data.
Sun, Nov 19, 2023
The 43.5 trillion yen ($290 billion) in planned spending will go to new weapons such as longer-range missiles as well as to increase stocks of spare parts and munitions to fight a sustained conflict.
Thu, Nov 16, 2023
The result compared with the $14.45 billion average of seven analyst estimates compiled by LSEG.
US President Joe Biden on November 16 held a bilateral meeting with China President Xi Jinping in San Francisco in the USA. The meeting was held on the sidelines of the Asia-Pacific Economic Cooperation (APEC). The purpose behind the meeting was for both sides to make efforts to increase high-level communication amid continued tensions.
U.S. crude production held steady at a record 13.2 million barrels per day (bpd).
Wed, Nov 15, 2023
Chinese President Xi Jinping arrived in San Francisco. This marked the commencement of his first visit to the United States in six years. Jinping is due to meet US President Joe Biden at an undisclosed location in the San Francisco Bay Area. He will also attend the annual summit of the Asia Pacific Economic Cooperation (APEC) forum.
The United States and China said they support a declaration by G20 leaders to triple global renewable energy capacity by 2030, and also agreed to "accelerate the substitution for coal, oil and gas generation".
New construction starts measured by floor area fell 23.2 per cent year-on-year, after a 23.4 per cent slump in the first nine months.
The central bank also injected 495 billion yuan through seven-day reverse repos while keeping borrowing cost unchanged at 1.80 per cent, it said in the statement.
Tue, Nov 14, 2023
The government sees employment as key to pacifying China's most pessimistic generation in decades, while graduates gaining even limited work experience can also benefit their future employers if the economy recovers, analysts say.
Thu, Nov 09, 2023
The electric vehicle maker will increase the price of its Model 3 version in China by 1,500 yuan ($206), according to its website and official Weibo account.
Wed, Nov 08, 2023
The central bank will also provide liquidity support to areas with high debt when necessary, according to Pan.
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