Philip Chua Business Blog

Posts Tagged ‘India’

INVESTORS today are increasingly looking towards emerging markets like the BRIC economies (Brazil, Russia, India and China) to park their money. The term was first coined nearly a decade ago by Goldman Sachs economist Jim O'Neill, who argued that the combined economies of the BRICs could eclipse those of the world's richest countries by 2050. These four countries today certainly lo... more

Rumours of a hike in the US discount rate on Thursday proved unfounded but served as the starting shot of a rally in the dollar index, with monetary tightening in India on Friday triggering subsequent profit taking in commodity currencies. Accompanied by the increased aversion for EUR and GBP, the…

THIS year, for the first time, more than half of the world’s foreign investments will flow into emerging markets. Before, industrialised nations received most of the investments.
Asia in particular, the first continent to recover from the global financial crisis, is set to benefit. Despite the crisis, India and China will grow this year by more than 6 per cent and 8 per cent, respectively, while t… more

(SINGAPORE) Gold surged to a new record yesterday, crossing the US$1,090 level for the first time, a day after the International Monetary Fund announced a massive sale of the metal to India.
The precious metal touched US$1091.1 an ounce by late afternoon – up 2.8 per cent from US$1061.50 a day ago.
Analysts said a weaker dollar could push prices to US$1,100 an ounce.
Indeed, traders say gold is… more

THE seeds of the next financial crisis could be sowed in the volatile currency markets, according to the deputy governor of the Reserve Bank of India.
Attending an awards ceremony at the Intercontinental Hotel yesterday, Mrs Usha Thorat said it was important that the world addressed currency market volatility – noting that the burden of adjustment can fall much more heavily on some countries than … more

A MOTOR insurer has been ordered to pay $10,000 in legal costs after it took a ‘customer’ to court over a $5,000 dispute and lost.
This is because Kenso Leasing, which India International Insurance (III) sued, proved it was not aware that an insurance policy for a truck was taken out under its name.
The Nissan Cabstar was among 60 vehicles acquired by used car dealer and rental company Auto & … more