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Turkey's annual inflation rate slightly increased in November, indicating a leveling off after a series of interest rate hikes. The rate rose to 61.98 percent from 61.36 percent in October. The pace of rising consumer prices has started to ease as borrowing costs have slowed down consumption. Analysts predict a final rate hike of 2.5 percentage points at the central bank's next policy meeting. While signs of Turkey's economy recovering are noticed by foreign investors, bringing inflation down will require prolonged tight monetary policy.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SR7AgMU
The World Bank is collaborating with a club of 15 finance executives, including BlackRock's Larry Fink and AXA SA's Thomas Buberl, through the Private Sector Investment Lab (PSIL) to reduce investment risks in climate projects in emerging economies. The PSIL aims to create a securitisable asset class that will attract deep-pocketed investors like BlackRock and large pension funds. This initiative is part of the World Bank's efforts to mobilize funds for addressing climate change and facilitating the transition to clean energy.
The NSE market capitalisation surpasses the USD 4 trillion mark for the first time ever, with the Nifty hitting an all-time high. The Nifty-500 index also reaches a new high, indicating a broader market rally. The achievement is attributed to a technology-driven and knowledge-based economy with strong public finances. The top three companies by market valuation, including Reliance Industries Limited, Tata Consultancy Services, and HDFC Bank, retain their positions.
The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review later this week, with inflation staying in comfort zone and economic growth moving at an accelerated pace, opined experts. The RBI has left the benchmark policy rate (repo) unchanged in its past four bi-monthly monetary policies. RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) is scheduled to begin its three-day deliberations on December 6.
The combined market valuation of nine of the top-10 most valued firms climbed Rs 1,30,391.96 crore last week, with Bharti Airtel and Tata Consultancy Services (TCS) emerging as the biggest gainers, amid an overall optimistic trend in equities. Last week, the BSE benchmark jumped 1,511.15 points or 2.29 per cent. Barring Reliance Industries, nine other companies including HDFC Bank, ICICI Bank, Infosys and Hindustan Unilever witnessed addition in their market valuation.
