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Economy
Pakistan has to return USD 3 billion to Saudi Arabia within one year: Finance Minister Shaukat Tarin
Finance Minister Shaukat Tarin told the Senate, the upper house, that the Saudi Fund for Development (SFD) in October 2021 placed the amount in the account of the country’s central bank, the State Bank of Pakistan. Cash-strapped Pakistan has to return USD 3 billion to Saudi Arabia within a year which it had borrowed from Riyadh in 2021 to improve…
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Top News
Tea exports decline to 175.38 million kg in first 11 months of 2021
According to industry experts, the decline in exports could be attributed to shortage of containers, high ocean freight and less offtake by the lucrative Iran market due to payment issues. Exports of tea during the first 11 months of 2021 declined to 175.38 million kg as compared to 189.83 million kg in the corresponding period a year ago, the Tea…
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Economy
Forex reserves rise to USD 631.953 bln
In the previous week ended January 28, the reserves had declined by USD 4.531 billion to USD 629.755 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021. The country’s foreign exchange reserves increased by USD 2.198 billion to USD 631.953 billion in the week ended February 4, RBI data showed. In the…
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Mutual Fund
SBI MF launches multi-cap fund. Details here
The new fund offer will open on 14 February and close on February 28. The fund will not have any sector or style bias as the outcome of portfolio selection will be based on the analyst recommendations Source link
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IPO's
Sequoia-backed Cloudnine files DRHP with SEBI, plans to raise Rs 1,200 crore via IPO
Cloudnine, a super-specialty mother and babycare chain of hospitals has filed its draft IPO papers with capital markets regulator SEBI today. Cloudnine, a super-specialty mother and babycare chain of hospitals has filed its draft IPO papers with capital markets regulator SEBI today. The company is looking to raise around Rs 1,200 crore from the public issue of equity shares, news…
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Global Markets
US smallcap stocks attractive for 2022, says Goldman Sachs; equities will continue to outperform fixed income
US small cap stocks have outperformed large cap stocks over the past two decades, and the same might continue in 2022 US small cap stocks have outperformed large cap stocks over the past two decades, and the same might continue in 2022, analysts at Goldman Sachs said. “We believe smallcap stocks can continue to outperform in 2022. The expectation for…
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Mutual Fund
Christopher Wood says Indian MF industry assets may hit ₹90 trillion by 2030
NEW DELHI: India’s mutual fund industry has the potential to have total assets under management (AUM) worth ₹90 trillion by the end of this decade, up from ₹38 trillion at present, Christopher Wood, global head of equity strategy at Jefferies said in a research note titled, Greed & Fear. According to the expert, this will be driven by systematic investment…
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Global Markets
What’s in store for Financials, Tech stocks as US 10-year yield tops 2% amidst upcoming rate hikes?
Statistically speaking, the absolute performance of the Information Technology sector has had an insignificant direct relationship with interest rates. Coming on the back of high inflation numbers for January, showing a 7.5% annual increase, the biggest since 1982, the 10-year Treasury yield crossed the 2 per cent mark. The two-year yield climbed the most since 2009 and the 10-year US…
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Market Update – February 11 – USD on bid as equities crushed
The markets were crushed, and especially bonds, as a hotter than expected CPI and hawkish comments from Bullard weighed heavily on the markets. The 7.5% y/y pace of CPI, a 40-year high, boosted concerns that the FOMC will have to take a more aggressive stance on rate hikes and tightening down the road. But the nail in the coffin were comments from the Fed hawk Bullard who said he now…
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Markets
SEBI diktat to bring parity between listed, unlisted AMCs
The recent diktat by the Securities and Exchange Board of India (SEBI) for putting in place an audit committee at all asset management companies (AMCs) will bring parity between those that are listed and the majority that are unlisted, and hence, are under no compulsion to have such a panel in place, industry insiders say. Earlier this week, the capital…
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