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Economy

NBFCs are running out of options and selling bonds to the public

NBFCs are selling public bonds with the purpose of building a retail base. But individual investors may not be aware of the high risks.
A man pushes a cart past the Imperial, a twin-tower residential skyscraper complex developed by S D Corp. | Dhiraj Singh |Bloomberg

Delays in sales of bankrupt firms raising funding costs, JSW Steel complains

Resolution process of bankrupt firms has been slowed as courts are inundated with appeals from founders, administrators, lenders & bidders.
A Bharat Petroleum Corp. oil refinery in the Mahul area of Mumbai | Bloomberg

Oil prices are climbing again and that’s bad news for inflation outlook

Crude prices are at 5-month high and pose a risk to benign inflation expectations that allowed RBI to cut rates.
An electronic ticker board indicates British pound to Indian rupee currency exchange rate outside the Bombay Stock Exchange building in Mumbai| Dhiraj Singh/Bloomberg

Market opens cautiously as India sees day 1 of voting in Lok Sabha elections

The rupee depreciated 4 paise to 69.15 against the US dollar in early trade on Thursday.
Infographic: Arindam Mukherjee | ThePrint

Currency, forex, growth in free fall: Economy is Pakistan’s real crisis, IMF only saviour

Pakistan has reserves for just two months of imports, and also faces a current account, fiscal deficit, inflation crisis.
A man stands in front of an electronic ticker board showing stock information figures outside the Bombay Stock Exchange (BSE) in Mumbai

Global analysts are ratcheting up their profit forecasts for Indian equities

Fundamentals of corporate India are improving & projections for next year’s earnings at S&P BSE Sensex Index companies has jumped to a record high.
Woman walk past a transmission tower in Rajouri district, Jammu and Kashmir |Dhiraj Singh/Bloomberg

Weak power demand indicates more slowdown pain ahead

Listless growth in electricity demand points to lack of appetite among factories & commercial firms who consume about half of India’s power.
A man leaves the New York Stock Exchange in New York, Wednesday

The world is not even close to the next great recession

The world economy might be messy and there will be regional divergences aplenty, but it is not terrible as IMF data shows there are still some chances of growth.

Banking big-wigs turn to self-employment as Indian credit markets look worse than ever

The bankers branching out say that the recent market turmoil has created the need for a more boutique approach to navigating the credit markets.
Gita Gopinath

IMF’s Gita Gopinath says there’s no free lunch in modern monetary theory

Gita Gopinath is latest big-name economist to weigh in on MMT theory, which is seeking to shift debate on limits to how much countries can spend.

On Camera

IAS poll observer: With Modi breaking rules, should EC give him special security treatment?

The Election Commission has suspended an IAS officer who had inspected PM Narendra Modi’s chopper in Odisha’s Sambalpur Tuesday.

Defence

Satellite images suggest that China is testing and weaponising its naval platforms for space denial

China is now testing laser ASAT weapons from its naval ships

China has already tested missile & EMP anti-satellite weapons from the ground. Now it’s using icebreaker ships in the Yellow Sea/Bohai Sea area.
National interest

Imran Khan’s ‘support’ for Modi shows BJP has walked into its own Pakistan trap

Modi & the BJP hope to return to power by exploiting the fear of Pakistan. Imran Khan has turned the tables and become a factor dividing Indian public opinion.