The impact on rural demand and growth could be ‘substantial’ if rains are below normal, global brokerage firm HSBC said, adding that the Reserve Bank of India will be mindful and is likely to cut the repo rate by 25 basis points in the June meeting. According to the global financial services major, a weak monsoon endangers both growth recovery and steady disinflation. But of the two, rural growth could hurt more. "Food prices seem to be benefiting from better supply management, low ... Rediff.com, 1 month ago
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India has offered a ‘cash reward’ to a former HSBC bank employee-turned-whistleblower in exchange for any fresh information about its citizens holding illegal accounts in various tax haven countries, including in Swiss banks, as it looks to combat black money and unearth funds stashed away abroad. Sources said that the government is ‘still awaiting’ a response to the offer it has made to former HSBC employee Herve Falciani after he hinted that he possessed additional ...Rediff.com, 2 months ago
BEIJING : China’s manufacturing activity recorded its worst contraction in a year in April, a survey by HSBC showed today, as subdued domestic demand weighed on growth in the world’s second-largest economy. The British bank’s final ...Himalayan times, 3 weeks ago China's manufacturing activity slows down to 11-month low Rediff.com, 2 months ago
The RBI is slated to announce its bi-monthly monetary policy on June 2. Foreign brokerage HSBC on Wednesday said the Reserve Bank of India will go for a 25 bps cut in repo rates in June 2 policy review but the El Nino impact may curtail the prospect of further cuts in the coming months. "If the monsoon is worse than feared, this will severely constrain the RBI's ability to ease policy over the medium-term, seeing that its CPI targets would be at risk," it said. The note came days after the US, ...Rediff.com, 1 week ago
The HSBC India Services Business Activity Index, which tracks changes in activity at Indian service companies on a monthly basis, eased to 53.0 in March from 53.9 in February, indicative of a moderate rate of expansion that was slightly weaker than in the ...Jagran Post, 1 month ago Services growth soars to 8-month high: HSBC Rediff.com, 2 months ago
MUMBAI : India’s factory output eased in April as domestic demand remained weak, a key survey showed today, which raised concerns about the pace of job creation in the key sector. Banking giant HSBC said its purchasing managers index (PMI) fell to 51.3 ...Himalayan times, 3 weeks ago
A raft of banks could face tough questions in the sweeping US crackdown on alleged corruption in global soccer as prosecutors review how much they knew about millions of dollars in bribes flowing through the US banking system to accounts around the world. More than a dozen banks are named in the U.S. Department of Justice's indictment of nine officials at FIFA, the game's powerful governing body, and five sports media and promotion executives, over charges involving more than $150 million in ...Rediff.com, 2 days ago
Respondents say benign inflation and growth imperative may prompt repo rate action The Reserve Bank of India is expected to go for a third cut in interest rates this year. The unanimous response to a Business Standard poll of 10 market participants was Governor Raghuram Rajan would reduce the repo rate by 25 basis points in the monetary policy review on June 2, as inflation was benign and there was a need to support growth. Since the beginning of this year, the central bank has reduced the repo ...Rediff.com, 4 days ago
It is six years since the financial crisis. If another hits soon, the world has no tools left to deal with it, notes Akash Prakash HSBC Global Research has recently published a very interesting research note, titled ‘The world economy’s titanic problem’. In the piece, they make the basic point that if we were to get another recession either in the United States or the global economy, there are almost no policy tools available to combat the slowdown. We have been unable to ...Rediff.com, 1 week ago
Markets finished flat amid a choppy trading session because of weakness in metal stocks. Weak Chinese factory data and disappointing quarterly results posted by Tata Steel were the triggering factors. Also, earning numbers of blue-chips, including ITC and SBI due on Friday, contributed to the decline. However, a stellar rally in the auto stocks led by Bajaj Auto limited losses on the bourses. The Sensex dropped 28 points to end at 27,809 and the Nifty shed 2 points to close at 8,421 mark.Rediff.com, 1 week ago
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