Data released on Saturday revealed that Russia shipped a record 107.02 million metric tons of crude oil to China last year, equivalent to a staggering 2.14 million barrels per day.
On January 12, 2024, MeitY took a decisive step, blocking access to major crypto exchanges like Binance, Kucoin, and Huobi within India's digital borders. This move aimed to curb the burgeoning crypto market and address concerns about money laundering and financial instability.
The government's recent track record on fiscal consolidation is indeed commendable. From a staggering 9.2% of GDP in 2020-21, the Centre's fiscal deficit is projected to shrink to 5.9% in the current fiscal year.
The underlying details paint a picture of an economy struggling to maintain its footing. Construction, a key driver of growth in recent years, decelerated sharply, with its quarterly rise of 2.5% barely a shadow of the previous quarter's 7.2% surge.
Nearly 240 local funds were liquidated in 2023, marking the highest number since 2018's regulatory shakeup, according to Bloomberg data.
The BNM's decision comes despite easing inflation, which dipped to 1.5% in November 2023, its lowest level since March 2021. This figure falls below the government's projected range of 3%-4% for 2023 and can be partly attributed to the bank's previous rate hikes.
Prime Minister Srettha Thavisin confirmed the government's commitment to the program but admitted during a press conference on Friday that the rollout might be pushed back, leaving a crucial launch date unconfirmed.
The new law reduces the maximum shareholding an individual investor can hold in a Vietnamese bank from 5% to 2%, while institutional investors, such as pension or investment funds, will be capped at 10%, down from the current 15%.
The survey delves deeper into the specific strategies being contemplated. Mergers and acquisitions (M&A) emerge as a prominent avenue, with close to a third (32%) of respondents eyeing mergers between core businesses for synergy and scale.
Analysts predict this trend to continue in Q3 FY24, with volumes hovering between 2% and 5%. The weakness is attributed to a muted rural demand revival and increasing competition from smaller regional players chipping away at HUL's market share.
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