ESG funds: What makes for good performance?
ESG labelled funds hold approximately $7 trillion in assets according to Bloomberg’s analysis of 14,500 funds with ESG called out in their prospectus.
Italy Shocks Banks with 40 Windfall Tax for 2023
To tax income from gap in lending, deposit rates Govt had criticised lenders for keeping deposit rates low Banks have earned record profits in recent quarters ROME, Aug 8 Reuters Italy dealt a surprise blow to its banks and sent shockwaves across the sector in Europe by setting a oneoff 40 tax on profits reaped […]
India Wheat Prices Jump to 6mth High on Demand, Limited Supply
MUMBAI, Aug 8 Reuters Indian wheat prices surged to a sixmonth high on Tuesday due to limited supplies and robust demand ahead of the festival season, dealers said. The increasing prices may prompt New Delhi to eliminate import duties on the cereal to bolster supplies and control prices ahead of key state polls and next […]
Australian Consumer Sentiment Slips in Aug amid Economic Angst
SYDNEY, Aug 8 Reuters Australian consumer sentiment slipped in August as a decision by the country39;s central bank not to hike interest rates for a second month did little to soothe worries about the economic outlook. The WestpacMelbourne Institute index of consumer sentiment dipped 0.4 in August from July, when it bounced 2.7. The index […]
Chinas July Coal Imports Surge as Heatwaves Drive Power Use
July imports 67 on yr; JanJuly imports 89 on yr Power loads hit peaks amid heatwaves Inventory at top utilities at record around 200 mln t Aug 8 Reuters China39;s coal imports remained at elevated levels in July after overseas purchases nearly doubled in the first half of 2023, as utilities continued to bring in […]
Australian July Business Conditions Hold Firm, Costs Jump
SYDNEY, Aug 8 Reuters Australian business conditions again proved solid in July with sales, profits and employment all above average, while a spike in labour costs and prices suggested inflationary pressures had yet to abate. A survey from National Australia Bank Ltd NAB released on Tuesday showed its index of business conditions dipped to 10 in […]
Indian Private Credit Funds Rush to Fill Gap Left by Banks
MUMBAI, Aug 8 Reuters A growing number of Indian alternative investment funds are expanding their private credit business, filling a void left by banks and nonbank lenders and mirroring a pickup in activity across Asia. Private credit funds typically invest in debt or hybrid securities of unrated and lowerrated companies. Kotak Alternate Assets Managers KAAM, Edelweiss […]
Chinas July Crude Imports Drop to Lowest since January
China crude imports down 18.8 mm, but up 17 yy Refined fuel exports up 17.7 mm Natural gas imports down slightly mm, but up 18.5 on last year BEIJING, Aug 8 Reuters China39;s crude oil imports in July fell 18.8 from the previous month to the lowest daily rate since January, customs data showed on […]
Chinas Trade Slumps, Threatening Recovery Prospects
BEIJING, Aug 8 Reuters China39;s imports and exports fell much faster than expected in July as weaker demand threatens recovery prospects in the world39;s secondlargest economy, heightening pressure for authorities to release fresh stimulus to steady growth. The grim trade numbers reinforce expectations that economic activity could slow further in the third quarter, with construction, […]
Indias July Fuel Demand Up 1.9 Year on Year
Aug 8 Reuters India39;s fuel consumption, a proxy for oil demand, rose by 1.9 yearonyear in July to about 18.09 million tonnes, data from the Petroleum Planning and Analysis Cell PPAC of the oil ministry showed on Tuesday. Fuel demand was still down about 6.6 from the previous month, when demand stood at 19.36 million […]