The continent’s stocks and bonds have performed worse than those of all other emerging-market regions in 2018, reversing their outperformance of last year. The selloff has left equities in nations such as South Africa, Egypt, Nigeria and Kenya at or near their cheapest levels in years. Risks abound from tense elections in the two biggest economies -- Nigeria and South Africa -- to low oil prices, potential credit-rating downgrades and the prospect of sovereign defaults.
India’s spending is exceeding its revenue, leaving the government looking for funds to help an ailing banking sector -- key to boosting loans and investment and creating jobs. Finance ministry officials estimate the Reserve Bank of India has at least 3.6 trillion rupees ($50 billion) more capital than it needs, which they say can be used to help bolster the banks. “It will be difficult for the government to meet its targets absent substantial new revenue from asset sales or as a transfer from the RBI,” said Sasha Riser-Kositsky, an analyst with Eurasia Group.
“A lot of people have been buying at one rupee,” according to Gaurav Mathur, managing director of digital platform SafeGold, which has partnered with payments apps such as Flipkart Online Services Pvt.’s PhonePe to sell gold starting at that price. Since its launch last year, about 3 million people have already transacted on the platform and the company, which counts the World Gold Council as one of its investors, is targeting to raise this to 15 million by next year, he said.
Steve Cohen‘s Point72 Asset Management began managing outside capital in 2018 after operating for several years as a family office following Cohen’s former hedge fund SAC Capital Advisors being involved in one of the 10 Biggest Insider Trading Scandals Ever to Rock Companies. That’s great news for investors, who have reportedly poured $5 billion of […]
Semiconductor stocks have been battered by recent market-wide volatility and concerns that the industry's strong cycle is nearing its end. Check out these Zacks buy-ranked semiconductor stocks right now!
LANSING, Mich. (AP) — Michigan Republicans determined to dilute the authority of newly elected Democrats could see the power play thwarted by a moderate GOP governor, who is not certain to go along with the Legislature like Wisconsin's more partisan Gov. Scott Walker.