Benchmark stock indices opened on a negative note following weak global cues after the US Federal Reserve left key interest rates on hold last night, but hinted a rate hike next month.
Stocks and forex markets will remain closed for 'Diwali Balipratipada'.
China central bank governor Yi Gang said he still sees plenty of room for adjustment in interest rates and the reserve requirement ratio (RRR), as downside risks from trade tensions with the United States remain significant.
China’s vice finance minister Zou Jiayi on Saturday acknowledged debt issues with some of its ‘Belt and Road’ projects, saying the government will strengthen macro-supervision on the debt sustainability aspect of its overseas investments.
Asserting that trade tensions and rising oil prices are affecting emerging nations, Economic Affairs Secretary Subhash Chandra Garg said G-20 countries should take coordinated action to minimise the negative spillover effects of global risks on developing economies.
Tensions remained among the G20 group on trade that must be solved among countries directly involved, said Nicolas Dujovne, chairman of the group’s finance leaders’ meeting.
From cutting power subsidies to forcing currency devaluations that stoke inflation, the hard choices facing Pakistan as it seeks a bailout from the International Monetary Fund (IMF) pose a major headache for populist new Prime Minister Imran Khan.
State Bank of India, the country’s largest lender, sees its provision for bad loans remaining high for at least the next two quarters, after which it will start softening as it steps up efforts to improve asset quality, its chairman said.
The direct impact of potential car tariffs that the United States could impose on European cars would be relatively limited but they could still affect investor sentiment, the head of the International Monetary Fund’s European unit said.
A magnitude 6 earthquake struck off the Indonesian islands of Java and Bali on Thursday, the U.S. Geological Survey (USGS) said, killing three people in Java and damaging some buildings while causing panic among residents.