ECONOMIC COMPETITION
Kazakhstan’s strategic investment plan aims to boost economic growth
Kazakhstan, Central Asia’s largest state rich in resources, is actively seeking foreign investments and global brands. Gabidulla Ospankulov, Chairman of the Investment Committee of the Kazakh Ministry of Foreign Affairs, outlined strategies to attract $150 billion in investments by 2029, aiming to elevate the national economy to $450 billion. Measures include state preferences, anti-corruption efforts, and reducing bureaucratic barriers.
IT stocks: A comeback which just needs a bit more confirmation; 7 stocks with an upside potential of up to 23%
Just before the expiry of the June series contract, bulls were seen in a segment of the market which has been long ignored by them — IT stocks. Because the upward movement was taking place at the end of expiry, one could not rule out the element of short covering. If one looks a bit deeper in the trend in IT stocks, two things have become clear. That while the news and opinion has been negative, the price action has not been so bad as has been painted. Now let's look at what happened in the IT sector and why there could be a case for contrarian buying. Yes, the sector has some headwinds which not many had thought would appear two years back. But the bigger question is whether this phase of underperformance is about to get over or not. It might be time to shed the bias of negativity around large IT players.
Economic cracks are getting exposed in the 2024 market bounty
Dispiriting trends that have been visible for months now alongside the frenzy for megacap tech stocks and private credit – are on display yet again. Companies with dicey balance sheets have underperformed anew in June. Equal-weighted stock benchmarks where disruptive AI market leaders have the same weighting as industrial bellwethers have lagged yet again.
India's entry into JPMorgan Bond Index set to benefit real estate & manufacturing: Abhishek Banerjee
Analyzing India's economic shifts from surplus to GDP growth projections, Abhishek Banerjee says the focus lies on potential impacts on export sectors and bond markets, indicating promising growth opportunities in the economy. While India's increased production and exports are positive, the shift necessitates careful sector allocation in the near term to manage potential impacts on export-oriented industries.
World MSME Day: MSMEs must develop a competitive advantage to operate in the global market: Rajneesh, AS & DC, MSME Ministry
Synopsis: Developing Indigenous technology besides collaborating with global partners is crucial for MSME, says Rajneesh, AS & DC, MSME Ministry.
Competitive intensity in used vehicle market to be on the rise: India Ratings
India Ratings and Research predicts that vehicle financiers will increase the share of used vehicles in their AUM due to rising new vehicle prices, food inflation, heat wave, moderation in capacity utilization due to elections, and slowing rural economy. The agency also expects a decrease in FY25 growth rates from FY24 levels. The agency expects non-bank finance companies to focus on used vehicles as assets class, presenting a favorable risk-return in terms of asset quality and pricing power.
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China premier calls to 'oppose decoupling' at economic forum
Friction between the West and the world's second-largest economy has intensified in recent years, particularly as Beijing and Washington compete for supremacy in advanced technology and new "green" industries.
Apple is first company charged under new EU competition law
Apple is facing intense regulatory scrutiny globally, with charges in the EU, legal battles in the US, and regulatory actions in Britain, signaling a turbulent period for the tech giant in various markets.
Is it a good time to play the urban consumption theme? Samit Vartak answers
When a lot of chemical companies went through huge capacity expansion and then it is impacting the margins significantly and so maybe it is not the right time yet but there will be time but similar if you see the capacity expansion happening across many of these companies, just look at the number of QIPs which are coming and they will go through similar fate what chemical companies went through before, so one needs to be careful on that.
IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
G7 draft confronts China's 'unfair' business competition
The G7 nations are set to pledge action against Chinese financial institutions that aided Russia in obtaining weaponry for its war in Ukraine, according to a draft summit communique seen by Reuters. The draft, involving leaders from the UK, Canada, France, Italy, Germany, Japan, and the US, also promises sanctions against entities helping Russia evade oil sanctions through fraudulent transportation. The G7 leaders emphasized that entities supporting Russia's defense industry undermine Ukraine's sovereignty and pledged to restrict financial system access for individuals and entities in third countries, including Chinese ones, engaged in such activities.
12 Lessons from Polls 2024
Lessons in governance and strategy for corporate India from the 2024 Elections and the formation of the third NDA government include the importance of competition, cooperation, feedback, communication, supply chain management, consumer knowledge, CEO dynamics, outsider directors, underdogs, and consistent performance.
ITC Hotels to have a net worth of Rs 10,000 crore and debt-free balance sheet
As of March 2024, ITC Hotels' capital structure stood at approximately Rs 207.85 crore. However, this figure may see slight adjustments on the listing day due to the issuance of shares under the ESOP scheme, according to Puri. This information was shared with shareholders on Thursday during an NCLT-convened audio-visual meeting of ITC Ltd shareholders concerning the demerger process.
India set for first current account surplus in 10 quarters by Q4FY24: Ind-Ra
India's current account balance (CAB) is projected to reach a surplus of approximately USD 6 billion in Q4 2024, marking the first surplus since Q1 2022. However, the overall CAB for FY24 is expected to remain in deficit at 0.6% of GDP, the lowest since FY17. The global economic environment is showing signs of improvement for 2024, with easing inflationary pressures and robust economic growth in the US and emerging markets.
Silver Medal Linings: In sports, business, or elections, it is the runner-up who defines a memorable winner
Evolution has hardwired into us the idea of a winner and, by the principle of complementarity, a loser. Out of breath and hiding away from a sabre-toothed tiger, managing to grab a seat on one of those Polynesian canoes headed to Hawaii (no stops), escaping the yearning jaws of prehistoric crocodiles at a watering hole, it was either ancient cremation rites or a few extra happy years for furthering hominid genes. Not a surprise that our genes learnt to be selfish, to think of a binary of win or lose.
India’s expanding defence ties in Indo-Pacific region to increase Sino-Indian competition
The International Institute of Strategic Studies (IISS) highlighted India's expanding defence role and partnerships in the Indo-Pacific region, which could further intensify the competitive nature of India-China relations. India's focus on being a preferred security partner through defence partnerships, combined exercises, and arms transfers is increasing its regional presence and influence, countering Beijing's influence. The report noted that India's defence engagement is primarily focused on the Indian Ocean region but is expanding to Southeast Asia and the Pacific Ocean.
Yen's relentless slide revives Japan's interest in structural reforms
Japanese policymakers are focusing on structural economic factors driving persistent yen declines, as market intervention has limited impact on the currency's broader slide.
View: Your first 100 days to-do list, Gov
The upcoming government will have its work cut out for it as it steps into power following the conclusion of the 18th Lok Sabha polls. While the current administration has made strides in improving the business environment in India, there are key reforms that the new government must prioritize to fully capitalize on the country's growth potential.
India's global travel & tourism index rank up at 39th: WEF index
India climbed to the 39th position on the World Economic Forum's Travel & Tourism Development Index 2024, reflecting the resurgence of global tourism post-pandemic. The US leads the list, while India ranks highest in South Asia and among lower-middle-income economies. India boasts competitive infrastructure and resources, driving travel demand sustainability.
Flat stuck in a delayed or stalled real estate project? Six things aggrieved homebuyers can do
Homebuyers stuck in stalled real estate projects face financial strain and uncertainty. They pay EMIs and rent while bearing the loss of opportunity cost. If you have property in a delayed or stalled real estate project, here are some things you can do as a home buyer.
CCI to boost strength for better oversight of digital, other sectors
The regulator is firming up a proposal to enhance its strength to strictly enforce regulations under the amended competition law of 2023, which has significantly widened the scope for oversight. On top of this, it is also planning to bolster its oversight of the digital market by adding quality manpower should the government come out with a new digital competition law and give it the oversight responsibility, said the person.
CCI chief flags 'opacity of algorithms', potential 'data dominance' concerns in digital markets
Competition Commission of India (CCI) chief Ravneet Kaur highlighted the opacity of algorithms in assessing their impact on competition, emphasizing the need for competition law to evolve in digital markets. The CCI is closely monitoring digital markets to combat anti-competitive practices. Kaur also announced a forthcoming market study on Artificial Intelligence during the 15th annual day event.
Biden's China tariffs are the end of an era for cheap Chinese goods
Biden's decision this past week to codify and escalate tariffs imposed by Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs. A single tariff rate embodies that closure: a 100% tax on Chinese electric vehicles, which start at less than $10,000 each and have surged into showrooms around the world but have struggled to crack government barriers to the U.S. market.
New study challenges benefits of healthcare privatisation
A study published in The Lancet Public Health journal highlights the negative effects of healthcare privatisation, particularly in high-income countries like the US, Germany, Canada, and South Korea. The research, led by the University of Oxford, suggests that privatisation seldom improves the quality of care but is associated with higher profits. It challenges the notion that market competition and flexibility in privately-owned healthcare systems lead to better outcomes.
Not just a one-horse town: Empower Opposition to become active political participants
India aims to be a $5 tn economy. So, there's much talk about accelerating growth and enhancing economic competitiveness. But are we through talking about political competition?
What football says about competition
Intense competition defines this season in sports, with surprises in the English Premier League and Champions League. Strong rivals elevate the game, echoing Serena Williams' belief that competition drives passion and excellence.
Indian investors have reason to cheer with Kazakhstan initiating major economic reforms
Indian private investors are looking for a liberalized economic environment with fair competition in the Central Asian region. Kazakhstan being the biggest and modern economy in the region provides a platform to expand business. Kazakhstan is India’s largest trade and investment partner in Central Asia. F
A clean technology trade war shows how empires fall
China produces 84% of the world’s solar modules and 86% of its lithium-ion batteries, as well as 67% of the nacelles that join wind turbines' blades to their towers, and 70% of electrolyzers for manufacturing green hydrogen.
Countries should undertake process reforms to improve economic and policy efficiency: Sanjeev Sanyal
Sanjeev Sanyal, member of the Economic Advisory Council to the PM, emphasized the need for governments worldwide to assess processes under various regulations periodically. In a joint working paper, he highlighted the importance of process reforms, defining them as microeconomic changes aimed at enhancing efficiency in specific sectors or issues.
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