How Asia’s Richest Person Gave Bezos a Run for His Money

Gautam Adani has had a very good year. The Indian billionaire briefly surpassed Amazon founder Jeff Bezos to become the world’s second richest person in September, according to Bloomberg. He is now ranked as the world’s fourth richest person. Outside of Southeast Asia, Adani is hardly a household name. That could change now that he’s … Read more

‘The Fed Is Breaking Things Up’ – Here’s What Is Putting Wall Street On The Edge As Risks Grow Across The Globe

Jerome Powell, chairman of the US Federal Reserve, at a Fed Listens event in Washington, DC, US, on Friday, September 23, 2022. Al Drago | Bloomberg | Getty Images As the Federal Reserve ramps up its efforts to tame inflation, sending the dollar soaring and sending bonds and stocks into a tailspin, concerns are mounting … Read more

Erdogan says Turkey will continue to cut interest rates, mocking the British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting in parliament in Ankara, Turkey, May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE IS PROVIDED BY A THIRD PARTY SIDE. NO RESALE. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar Reuters Turkey will continue to cut interest rates, its … Read more

From the Fed to the currency crisis in Europe, here’s what’s behind this sell-off in the financial markets:

Stocks fell sharply, bond yields rose and the dollar strengthened Friday as investors heeded the Federal Reserve’s signal that the battle with inflation could lead to much higher interest rates and a recession. The sell-off was global on Friday, in a week in which the Fed raised interest rates by another three-quarters of a point … Read more

British pound plunges, bonds fall after tax cut announcement

Sterling hit its lowest level since July 1, 2020. Matt Cardy | Getty Images The controversial British pound fell 3% against the dollar on Friday after the new British government announced a radical economic plan to boost growth. Sterling had fallen to $1.0923 at 4:20 p.m. London time, increasing the losses it incurred after the … Read more

Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe dropped dramatically during the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa images | Light rocket | Getty Images Turkey’s central bank surprised markets again with its decision Thursday to cut its key interest rate, despite inflation in the country soaring above … Read more

Asia’s emerging economies will grow faster than China’s

Chinese workers work on a construction site at sunset in Chongqing, China. Getty Images Asia’s emerging economies may be showing signs of recovery, but the Asian Development Bank (ADB) cut its growth forecasts for them again – thanks to China’s protracted zero-covid policy. But this will be the first time in more than three decades … Read more

2-year government bond yields above 4% for the first time since 2007

Two-year Treasury yields topped 4% for the first time since 2007 on Wednesday, as traders bet the Federal Reserve has much more to do in raising interest rates to fight inflation. The policy-sensitive 2-year Treasury rose by 4 basis points to 4.006%, a level not seen since October 2007. Meanwhile, the return on the benchmark … Read more

What to expect at the next Bank of Japan (BOJ) meeting as the yen falls?

The Japanese yen is hovering close to its weakest level since 1998, and authorities have suggested taking action to stem the currency’s decline. Ahead of the Bank of Japan’s rate decision later this week, CNBC is looking at whether Japan’s central bank could move away from its ultra-easy monetary policy as the Federal Reserve maintains … Read more

India is the ‘best bet’ in the global economy

The Indian chairman of the Hinduja Group conglomerate said he is optimistic about India, calling it “the very large emerging, fast-moving market”. Speaking to CNBC on Thursday, Ashok Hinduja explained: “We see a recession coming in the US, a recession in the UK, in Europe, trouble in China, [a] problem in Southeast Asia under the … Read more