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India's economic growth has slowed to its lowest rate in almost two years, leading to concerns about the stock market's performance. The NSE Nifty 50 Index is down 8% from its September high, with foreign investors withdrawing billions from equities. Analysts predict a potential market correction due to weak growth, but some see opportunities for investment, especially if the Reserve Bank of India cuts interest rates. The outlook for India's assets remains uncertain, with differing opinions on the impact of the growth slowdown on the economy and financial markets. [Extracted from the article]

Swiss National Bank President Martin Schlegel stated that Switzerland is experiencing economic weakness due to a slowdown in Germany, its largest trading partner in the EU. The strong franc has impacted industrial exports, leading to job cuts and a decrease in demand for Swiss industry. The Swiss National Bank faces challenges in balancing interest rates to combat slow inflation and maintain price stability, with further easing likely in the future. [Extracted from the article]

Turkey's economy has entered a technical recession, with a 0.2% quarter-on-quarter contraction in the third quarter. The annual growth rate of 2.1% fell below expectations, reflecting the impact of high-interest rates. The Central Bank of the Republic of Turkey is considering a monetary easing cycle in response to the economic slowdown and high inflation rates. President Recep Tayyip Erdogan's economic policies may shift towards more market-friendly approaches as the country navigates its first recession since 2018. [Extracted from the article]

Goldman Sachs Group Inc. predicts that President-elect Donald Trump's proposed tariffs on Canada could have significant consequences for US consumers, particularly in raising fuel prices. The 25% levy on all Canadian products may impact US refiners and Canadian producers as well. However, the implementation of these tariffs is uncertain, with Goldman suggesting that they may be a negotiating tactic rather than a concrete policy. The briefing also highlighted risks to Iranian oil flows, OPEC's defense of a $70 per barrel price floor, and other factors affecting global oil markets. [Extracted from the article]

Aikido Technologies Inc., a US-based startup, has developed a floating platform for offshore wind turbines that cuts construction time in half compared to conventional platforms. Despite being backed by the federal government, the company is looking to overseas markets due to challenging economics and political hostility towards offshore wind in the US. Countries like Scotland are seen as more promising for offshore wind development, with Aikido also eyeing expansion into France, Japan, Taiwan, and South Korea. [Extracted from the article]

The Central Bank of Nigeria has raised interest rates for the sixth time this year in an effort to combat high inflation and support the country's currency. Governor Olayemi Cardoso emphasized the importance of price stability for Nigeria's economy and expressed optimism about seeing results in the first quarter of 2025. Despite efforts to stabilize the naira, inflation remains high due to fuel and food price increases, as well as currency weakness. President Bola Tinubu's economic reforms aim to attract foreign investors and improve efficiency, but have sparked domestic criticism over rising living costs. [Extracted from the article]

Aikido Technologies Inc., a US-based startup, has developed a floating platform for offshore wind turbines that cuts construction time in half compared to conventional platforms. Despite being backed by the federal government, the company is looking to overseas markets due to challenging economics and political hostility towards offshore wind in the US. Countries like Scotland are seen as more promising for offshore wind development, with Aikido eyeing expansion into France, Japan, Taiwan, and South Korea. [Extracted from the article]

Iraq, Russia, and Saudi Arabia, key members of the OPEC+ alliance, held discussions in Baghdad regarding energy markets ahead of the group's upcoming meeting. The officials focused on global energy market conditions, crude oil production, and maintaining stability and fair prices. The OPEC+ alliance, led by Saudi Arabia and Russia, is set to meet on December 1 to consider plans for resuming halted production, which has been delayed twice already. Iraq, Russia, and Kazakhstan have faced challenges in implementing production cutbacks but have shown improvement in recent months. [Extracted from the article]

Russia's seaborne crude exports experienced a significant decline, particularly to India, resulting in a two-month low in shipments. The drop in exports was concentrated in Russia's western ports, with a notable decrease in flows from the Baltic, Arctic, and Black Sea. The reduction in exports may be attributed to Russia's efforts to meet its OPEC+ output cuts and past over-production. Additionally, the article highlights changes in export values, destination flows to Asia, Europe, and Turkey, and provides insights into the overall trends in Russia's crude oil exports. [Extracted from the article]

The Federal Reserve officials are considering a more deliberate approach to cutting interest rates next year due to uncertainties surrounding a Republican takeover in Washington, increased productivity, and slower progress on inflation. The upcoming release of the minutes from the Nov. 6-7 meeting could provide insights into potential changes in the pace and extent of rate cuts. Policymakers are reassessing the neutral rate and the impact of a potential quarter-point cut in December, with some officials expressing concerns about overstimulating the economy. Additionally, the unexpected surge in productivity and uncertainties related to inflation under President-elect Donald Trump's proposals are influencing the Fed's decision-making process. [Extracted from the article]

UK regulators will maintain the original deadline of December 19 for making a crucial decision on Thames Water's future business plan, despite financial challenges faced by the utility. Thames Water is seeking emergency debt funding and equity to address infrastructure issues and population growth. Ofwat's final determination may lead to higher customer bills due to increased regulatory requirements, potentially prompting an appeal from Thames Water to the Competition and Markets Authority. [Extracted from the article]

The European Union has made limited progress in negotiations with China to replace tariffs on electric vehicles, with technical talks ongoing but minimal engagement between the two sides. China has not yet met the EU's requirements for an enforceable agreement, and disagreements persist over price undertakings and agreements with individual carmakers. The EU recently imposed additional tariffs on EVs, prompting China to threaten retaliatory measures on dairy, pork, and brandy. Talks are focused on establishing communication mechanisms and avoiding cross-compensation risks. [Extracted from the article]

Singapore's core inflation rate in October 2024 slowed to its weakest pace since December 2021, with healthcare and recreation prices showing reduced gains. The core measure, excluding housing and private transportation costs, increased by 2.1% from the previous year, lower than the median estimate of 2.5%. Headline inflation was reported at 1.4%, the slowest since March 2021, with a non-seasonally adjusted monthly measure showing a 0.3% decrease. The Monetary Authority of Singapore anticipates core inflation to end the year at around 2% and average within its forecast range of 1.5-2.5% in 2025, with a policy review scheduled for the end of January. [Extracted from the article]

The Swiss National Bank's President, Martin Schlegel, believes that the bank's equity is insufficient to cover the risks posed by its large balance sheet. He emphasized the need to prioritize increasing the central bank's capital base over distributing profits to the Swiss government and cantons. Schlegel's comments suggest that the SNB may not make a payout to the state this year, despite posting a solid profit in the first nine months. The institution's large balance sheet is a result of foreign-currency purchases made to stabilize the franc after the 2008 global financial crisis, with Schlegel noting that the currency's impact on inflation is significant due to the Swiss economy's openness. [Extracted from the article]

The article discusses the oil market's perceived complacency towards potential sanctions against Iran and Russia, as highlighted by Bob McNally of Rapidan Energy Group. McNally predicts that the US may intensify pressure on Iran, potentially reducing oil exports by 1-1.2 million barrels per day. Tensions between Iran and the West have escalated, with implications for global oil prices. Additionally, McNally suggests that US efforts to curb Russian energy exports may continue, despite potential conflicts with domestic energy policies. [Extracted from the article]

The UK energy price cap is set to rise by 1.2% in January, indicating a continued inflationary impact. This increase, the first in two consecutive periods, is attributed to a 50% rise in wholesale prices due to global geopolitical risks, particularly the war in Ukraine. The government faces challenges in fulfilling promises to lower bills, while campaign groups advocate for additional support for vulnerable customers during the winter months. [Extracted from the article]

Singapore has raised its growth forecast for 2024 to around 3.5%, indicating a faster-than-expected recovery. The government warns of potential risks in 2025, including tariffs from a new Trump administration. Despite global economic uncertainties, Singapore's external demand outlook remains resilient, with the economy expanding 3.2% in the third quarter of 2024. The Monetary Authority of Singapore is monitoring price growth and has left monetary settings unchanged due to concerns about inflation. [Extracted from the article]

The European Central Bank is reevaluating its approach to supply shocks, with Executive Board Member Frank Elderson emphasizing the need to address these shocks promptly to prevent long-lasting impacts on inflation. Recent events have shown that supply shocks can lead to persistent deviations from inflation targets, prompting a reassessment of monetary policy strategies. The ECB is conducting a review of its monetary policy strategy, aiming to better handle potential supply shocks in the future to maintain price stability. [Extracted from the article]

South African Reserve Bank Governor Lesetja Kganyago stated that the review of the country's 3% to 6% inflation target is nearing completion. The central bank aims to anchor inflation expectations at the midpoint of its target range, which has not been revised since 2000. Kganyago has advocated for a lower target to address the country's higher inflation compared to its emerging market peers. [Extracted from the article]

The article discusses the stance of European Central Bank Governing Council member Robert Holzmann on the need for restrictive monetary policy due to lingering inflation risks. Holzmann emphasizes the importance of maintaining policy tightness to ensure inflation reaches the 2% target sustainably, citing wage gains and geopolitical threats as factors. While some officials advocate for a more accommodative approach to support the economy, Holzmann urges caution and highlights ongoing price pressures and risks. The article also mentions the likelihood of an interest rate cut in December, but emphasizes that it is not yet certain. [Extracted from the article]

The UK energy price cap is set to rise by 1.2% to £1,738 ($2,182.2) in January, indicating ongoing inflationary pressures. This increase, the first in two consecutive periods, is attributed to a 50% rise in wholesale prices due to Russia's conflict with Ukraine. The government's challenge to lower bills and the Bank of England's efforts to control inflation are further complicated by the rising costs. Campaign groups are advocating for additional government support for vulnerable customers facing difficulties in keeping warm during the winter months. [Extracted from the article]

The European Central Bank's Governing Council member Francois Villeroy de Galhau stated that potential trade levies under a second Donald Trump presidency would not impact the ECB's easing plans. He mentioned that possible US tariffs are not expected to significantly affect inflation in Europe, where risks to price increases and growth are shifting downwards. Villeroy emphasized the importance of maintaining flexibility in monetary policy decisions, with the ECB expected to announce another 25 basis-point rate cut in December. [Extracted from the article]

A little-known Turkish holding company, Zeren Group, has made significant moves in the fuel retail market by acquiring TP Petrol Dagitim AS and Alpet, totaling 1,120 gas stations in Turkey. This expansion comes as major oil companies like BP and TotalEnergies have exited the market due to limited profitability from price controls. Zeren Group's CEO emphasized the strategic importance of energy growth for the country and the diversification of services for consumers. The company's diverse interests span energy, media, shipping, and tourism globally, with plans to expand into banking as well. [Extracted from the article]

The article discusses the Reserve Bank of India's Governor Shaktikanta Das's stance on inflation control, emphasizing the importance of stable inflation for the economy and its people. Despite calls for rate cuts from government officials, Das has maintained a hawkish approach due to a recent spike in inflation. The next rate decision is scheduled for December 6, with uncertainty surrounding Das's potential continuation as governor. [Extracted from the article]

Hedge fund managers presented a variety of investment ideas at the Sohn conference in London, including long bets on companies like Pennon Group Plc and Spotify Technology SA, as well as short positions on firms like Elf Beauty Inc. and Cargojet Inc. Activist campaigns were also discussed, such as CIAM's opposition to Vivendi SE's spinoff plans. The event highlighted diverse perspectives on the investment landscape following the re-election of Donald Trump as US President. [Extracted from the article]

UK inflation rose to 2.3% in October, surpassing the 2% target and exceeding forecasts, driven by increased energy costs. The Bank of England is expected to remain cautious about interest rate cuts due to the inflationary pressures at home and abroad. Services inflation also remained high at 5%, in line with BOE predictions, indicating ongoing domestic pressures. The rise in inflation is attributed to a 10% increase in the UK's energy price cap for households in October. [Extracted from the article]

Federal Reserve Governor Michelle Bowman advocates for a cautious approach to further interest-rate cuts due to a slowdown in progress towards reducing inflation. She expressed a preference for gradual adjustments to assess the distance from the desired endpoint, especially considering the inflation goal has not been met. Bowman's remarks suggest she may not support another rate cut if the labor market remains strong while inflation progress stalls. Additionally, she criticized the regulatory response to bank failures in early 2023, emphasizing the importance of promoting safety, soundness, and financial stability without favoring specific institutions. [Extracted from the article]

UK inflation rose to 2.3% in October, exceeding the 2% target, driven by higher energy costs. The Bank of England is expected to remain cautious about interest rate cuts due to the inflationary pressures. Services inflation also increased to 5%, in line with BOE forecasts, indicating domestic pressures. The BOE anticipates inflation to reach nearly 3% by the third quarter of the following year, influenced by an expansionary budget and energy price fluctuations. [Extracted from the article]

Russia's seaborne crude exports have decreased to the lowest levels since September, with a notable drop in shipments from Baltic ports. The decline in exports is attributed to reduced loading schedules at the main Baltic port of Primorsk and an increase in Russia's primary refining rate. The European Union is considering sanctions targeting Russia's shadow fleet of tankers, while Russia's oil income has decreased due to lower export volumes and prices. The destination of most Russian crude shipments is Asia, with China and India being the primary recipients, while exports to European countries have ceased. [Extracted from the article]

The European Central Bank's Executive Board member Frank Elderson warns of inflation risks stemming from nature degradation, similar to those caused by climate change. Elderson emphasizes that economic activities reliant on ecosystem services could be impacted by supply-chain disruptions, leading to price increases and inflation. He highlights the importance of considering nature degradation and climate change in the ECB's mandate for ensuring price stability across the euro zone. Elderson's remarks come as the ECB conducts a review of its monetary-policy strategy, with a focus on addressing environmental challenges within the euro area. [Extracted from the article]

The article discusses European Central Bank Governing Council member Joachim Nagel's concerns about the potential fragmentation of the global economy, which could lead to challenges such as higher inflation and volatility. Nagel warns that escalating international tensions, particularly due to potential protectionist measures by the re-elected Donald Trump, could further exacerbate these risks. Despite the potential impact on inflation, Nagel remains optimistic that the effects on prices may not be severe, but emphasizes the need for central banks to be prepared to address any significant increase in inflationary pressures. [Extracted from the article]

Bank of Japan Governor Kazuo Ueda refrained from indicating a clear timeline for a potential interest rate hike at the upcoming December meeting, causing the yen to weaken. Ueda emphasized that the decision on rate adjustments will be based on economic conditions and prices, maintaining a data-dependent approach. Market participants had anticipated a more hawkish stance from Ueda, leading to speculation about the potential impact on the yen if no hints of a rate hike were provided. Ueda highlighted the need to monitor various risks, including the US economy, and emphasized the importance of gradually adjusting policy to support economic growth and price stability. [Extracted from the article]

Bank of England policymaker Megan Greene expressed concerns about high underlying inflation pressures in the UK, advocating for a cautious approach to interest rate cuts. Greene highlighted that services inflation and wage growth are higher than desired, posing risks to overall inflation levels. Her comments reflect a more hawkish stance within the Monetary Policy Committee, which has been hesitant to reduce rates further. Greene's remarks were made at an event in London, where she emphasized the need to monitor inflation trends closely amidst economic uncertainties. [Extracted from the article]

Bank of Japan Governor Kazuo Ueda refrained from indicating a clear timeline for a potential interest rate hike at the upcoming December meeting, causing the yen to weaken. Ueda emphasized that the decision will be based on economic conditions and data, keeping the possibility of a rate hike open. Market participants were expecting more hawkish comments from Ueda, leading to speculation about the future direction of the yen. Ueda highlighted the need to monitor various risks, including the US economy, and maintained a cautious approach towards signaling a specific date for the next rate hike. [Extracted from the article]

European Central Bank Governing Council member Joachim Nagel warns of potential global economic fragmentation following Donald Trump's re-election, which could lead to higher inflation and increased volatility. Nagel emphasizes the importance of restoring cooperation and free trade to mitigate these risks. He also highlights the potential impact of Trump's protectionist policies on global trade and inflation, while expressing confidence in central banks' ability to address any challenges that may arise. [Extracted from the article]

Bank of Japan Governor Kazuo Ueda's recent comments did not provide a clear indication of a potential interest rate hike at the upcoming December meeting, causing the yen to weaken. Ueda emphasized that the timing of any policy adjustments will depend on economic conditions and kept his options open regarding rate hikes. Market participants were expecting more hawkish comments, leading to speculation about the future direction of the yen. Ueda reiterated the bank's commitment to gradually raising rates in line with economic improvements and maintaining price stability. [Extracted from the article]

China and the European Union have reached a "technical consensus" in talks regarding tariffs on China-made electric vehicles, as reported by China Central Television. The discussions have focused on price undertakings to control prices and volumes of exports to avoid tariffs. While progress has been made, the EU views the negotiations as having limited progress and sees little chance of a quick deal. [Extracted from the article]

The European Union is preparing a new set of sanctions to target Russia's shadow fleet of tankers used to transport oil, with a focus on individuals involved in the trade. These sanctions, expected to be approved by the end of the year, aim to restrict the movement of Russian crude and cut Moscow's revenues. The EU is also planning a larger sanctions package for early next year, which may include trade restrictions and tariffs on Russian agricultural goods. Some member states are advocating for targeting Russia's LNG trade as well. [Extracted from the article]

European Central Bank Vice President Luis de Guindos stated that Euro-area consumer-price numbers are showing positive signs for policymakers, with inflation expected to converge towards the 2% target. Despite three rate cuts since June, the ECB is likely to cut rates again next month, depending on inflation trends. Guindos also noted a slower-than-expected economic recovery and expressed concerns about the impact of potential US tariffs under a returning Donald Trump administration. [Extracted from the article]

The Reserve Bank of India Governor, Shaktikanta Das, expressed optimism about India's economy, citing strong macroeconomic fundamentals and a resilient external sector. Despite global risks such as geopolitical tensions and climate change, India's economy is projected to grow at 7.2% for the current fiscal year. The RBI has maintained a neutral monetary policy stance to address inflation risks while supporting economic growth and banking system stability. [Extracted from the article]

Amazon.com Inc. has introduced a new online storefront called Haul to compete with Temu, a popular low-cost shopping app. Haul offers a variety of products priced at $20 or less, including clothing, home goods, jewelry, and electronics, with delivery in one to two weeks. Amazon aims to attract customers who are willing to wait longer for their orders in exchange for lower prices, with a $3.99 shipping fee that is waived for orders over $25. The company has partnered with China-based sellers and reduced fees for merchants selling affordable clothing to enhance the selection available on Haul. [Extracted from the article]

The article discusses the rebound in Russia's seaborne crude exports, driven by increased shipments from the Arctic region, which offset lower flows from other terminals. The country's primary refining rate also rose, but may be impacted by a Ukrainian drone strike on an oil refinery. Russia's oil income increased due to higher export volumes and prices, with Asia being a key destination for Russian crude shipments. European exports have ceased, with Turkey being the only short-haul market for Russian crude. [Extracted from the article]

The European Union is facing challenges in negotiating with China to avoid tariffs on electric vehicles, with limited progress and little hope for a quick deal. Talks between China and the EU have focused on price undertakings and communication mechanisms, but disagreements persist over enforcement and compliance with trade rules. China has threatened retaliatory tariffs on dairy, pork, and brandy in response to the EU's levies on EVs, leading to tensions between the two parties. [Extracted from the article]

Turkey's central bank has revised its inflation forecasts, predicting a year-end rate of 44% for 2024 and 21% by the end of 2025. Governor Fatih Karahan remains cautiously optimistic about slowing domestic demand and improving services inflation. While markets speculate on a potential rate-cutting cycle, the central bank's policy stance remains unchanged, with the next meetings scheduled for November and December. President Recep Tayyip Erdogan's past influence on monetary policy is noted, as the country aims to address its inflation crisis. [Extracted from the article]

The Czech Republic's central bank chief advocates for maintaining higher interest rates post-pandemic to prevent a cost-of-living crisis, attributing lingering inflation to loose monetary policies. Ales Michl emphasizes the importance of government budget discipline to avoid a potential second wave of inflation. Amid economic uncertainty, European policymakers are cautious about trade conflicts, while Michl plans to increase the central bank's gold holdings to diversify reserves and reduce volatility. The Czech currency has shown resilience compared to regional peers, reflecting a cautious approach to economic stability. [Extracted from the article]

The European Union and China have reported progress in negotiations to address tariffs on electric vehicles made in China. Both parties described the talks as making technical progress, but significant gaps remain regarding unfair subsidies to Chinese-made EVs. The EU and China are working on price undertakings to control prices and volumes of exports to avoid tariffs, with negotiations set to continue at a technical level next week. [Extracted from the article]

Turkey's central bank has increased its inflation forecasts for 2024 and 2025, aligning them more closely with market expectations. The new projections indicate that inflation could reach 44% by the end of this year and 21% by the end of 2025. Despite these adjustments, Governor Fatih Karahan emphasized that the bank's policy stance will remain tight until price stability is achieved, hinting at a cautious approach to potential rate cuts. Analysts are skeptical about the possibility of rate reductions before 2025, with the lira remaining relatively stable as discussions around monetary policy continue. [Extracted from the article]

The Czech central bank governor, Ales Michl, emphasized the need for higher global interest rates post-pandemic and advocated for budget austerity to control inflation. He attributed current price pressures to loose monetary policies of the past decade, leading to an excess of money in the economy. Michl highlighted the importance of maintaining price stability in the Czech Republic through budget cuts and aiming for core inflation slightly below the central bank's 2% target. The Czech National Bank recently cut interest rates for the eighth consecutive time but hinted at nearing the end of the easing cycle. [Extracted from the article]

Turkey's central bank has increased its inflation forecasts for 2024 and 2025, aligning them more closely with market expectations. The new projections indicate inflation reaching 44% by the end of this year and 21% by the end of 2025. Governor Fatih Karahan emphasized the need for a continued tight policy stance until price stability is achieved, with economists speculating on the timing of potential rate cuts. The lira remained relatively stable during the announcement, with the Borsa Istanbul 100 index showing slight gains. [Extracted from the article]