Author: user

India central bank cuts policy rate for the first time in nearly five years

Share

[ad_1] Sanjay Malhotra, governor of the Reserve Bank of India (RBI), during a news conference in Mumbai, India, on Wednesday, Dec. 11, 2024. India’s newly-appointed central bank governor Malhotra said he will look to uphold stability and continuity in policy in his role. Photographer: Dhiraj Singh/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesThe Reserve Bank of India has cut its key interest rate for the first time in nearly five years, as cooling inflation has offered room to stimulate the slowing economy.The Monetary Policy Committee decided to trim the repo rate by 25 basis points to 6.25%, RBI Governor…

Read More

Rupee strengthens, forwards dip ahead of central bank policy decision

Bond

[ad_1] By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose in early trading on Friday, tracking the gains in most Asian currencies, while dollar-rupee forward premiums dipped ahead of a closely watched monetary policy announcement by the Reserve Bank of India. The rupee was at 87.46 against the U.S. dollar as of 09:20 a.m. IST, stronger by 0.1% on the day. The dollar index was little changed at 107.7, while Asian currencies were mostly up between 0.1% and 0.4%. The RBI will announce its policy decision at 10 a.m. IST and is widely expected to cut policy rates by…

Read More

The White House says Trump wants to close a favorite tax break of hedge fund managers

News

[ad_1] President Trump sat down with Republican lawmakers Thursday to discuss tax cuts and made a favorite deduction of hedge fund managers one of his targets, White House press secretary Karoline Leavitt said Thursday. Leavitt listed “the tax priorities of the Trump administration” Thursday while reading from a prepared list. She had listed many familiar ideas, such as ending taxes on tips, but also included a promise to “close the carried interest tax deduction loophole.” “The president is committed to working with Congress to get this done,” she added. It’s an idea that, if Trump follows through and pushes it,…

Read More

The Johnson Group continues tradition of hometown investing

Investments

[ad_1] For siblings Geordy Johnson and Susanna Johnson Shannon, investing in their hometown of Spartanburg is a family tradition. Both are the latest generation of the family to fill leadership roles in The Johnson Group, a collection of companies founded in Spartanburg by their father George Dean Johnson Jr. From its origins developing retail centers in Spartanburg County in the 1980s with the founding of Johnson Development Associates Inc., The Johnson Group of companies has grown to encompass projects in all 50 states. The group’s activities range from commercial, industrial and multifamily residential developments to hospitality development and…

Read More

The impact a scandal has on ecosystem already in deep water

Share

[ad_1] EFishery “was supposed to be reflective of what the local ecosystem could do, what Indonesian founders could do. This was supposed to be one of the better companies from Southeast Asia. This was supposed to be a winner,” Justin Hall, partner at Golden Gate Ventures, told CNBC.Dimas Ardian | Bloomberg | Getty ImagesSoutheast Asia’s startup ecosystem has been braving a multi-year funding drought, and a recent scandal has delivered yet another blow to investor sentiment in the region.Indonesian agritech unicorn eFishery — backed by investors such as SoftBank Group and Temasek Holdings — was among Indonesia’s top startups, but…

Read More