Sovereign wealth funds globally amassed a record $15 trillion in assets under management in a year when many deepened their technology investments and profited from buoyant markets. Overall, sovereign owned investors ploughed $66 billion into investments in artificial intelligence and digitalization in 2025, the data firm said. Middle East sovereign wealth funds led on digital […]
India’s economic growth accelerated to 8.2% year-on-year in the July-September period, boosted by strong consumer spending and a front-loading of production ahead of local festivals and punitive U.S. tariffs. Economists polled by Reuters had forecast a 7.3% expansion for the quarter ended September, during which the U.S. imposed an additional 25% punitive tariff on Indian exports, raising the total levy to 50%. The gross domestic product grew by 7.8% in the previous quarter. Private consumer spending, which accounts for around 57% of GDP, rose 7.9% year-on-year in July-September, compared with a 7% rise a quarter ago, the data released on Friday showed. To counter subdued external demand and mitigate the effects of U.S. tariffs tied to its Russian oil purchases, India introduced tax cuts on mass consumption items which kicked in at the end of September. “The blockbuster GDP growth has been led by front-loading of exports,” said Garima Kapoor, economist, institutional equities, at Elara Securities in Mumbai. “With today’s print, full-year FY26 GDP growth will now see an upside and will be close to 7.5%, way above the (central bank’s) and government’s estimate,” Kapoor said. GOVERNMENT EXPECTS SUSTAINED GROWTH Economists said stockpiling for the festive season as well as expedited exports ahead of the 50% tariff deadline on August 27 might have contributed to the quarterly growth figures. Manufacturing output rose 9.1% in the quarter ending in September from a year earlier against growth of 7.7% a quarter ago, while construction expanded 7.2% year-on-year from 7.6% a quarter ago. Government spending decelerated, declining 2.7% year-on-year in the three-month period compared with growth of 7.4% in the previous quarter. The government expects strong demand, firm public spending and easing inflation to help India weather trade uncertainties and sustain growth through the rest of the 2025/26 financial year. Retail inflation in October slumped to a record low of 0.25% in October, raising chances of an interest rate cut by the Reserve Bank of India in its next review in December. Nominal growth, which includes inflation, was 8.7% in July-September as against 8.8% in the quarter earlier, weighing on corporate profits and tax collection. Gross value added, considered by economists as a more accurate measure of underlying economic activity, grew 8.1% year-on-year in July-September from 7.6% in the three months to June. GVA excludes indirect taxes and government subsidy payouts, which tend to be volatile. The agriculture sector grew 3.5% year-on-year compared with an increase of 3.7% a quarter ago. Source: Gulftimes
Bank of Singapore plans more investment in hiring and technology as it aims to climb into Asia’s top five private banks within five years after assets under management rose nearly 20% to exceed $145 billion in the third quarter, Chief Executive Jason Moo said. Asia’s wealth surge anchors the push. Global high-net-worth individual wealth rose […]
Blackstone Inc. is nearing an acquisition of MacLean Power Systems in a deal that could value the utility-parts maker at more than $4 billion according to people familiar with the matter. The private equity firm may announce a purchase of MacLean from Centerbridge Partners as soon as next week, the people said, asking not to […]
Why are so many veins of gold running through China? Its vast land mass rests on several tectonic plates. Geological activity creates conditions ideal for the formation of the element known as aurum in Latin, which is what gives gold its abbreviation Au. Volcanic activity or magma in Earth’s mantle heats subsurface water, which will then dissolve traces of gold from deep […]
Marshall Wace is preparing to return $3.1 billion to investors from two of its main hedge fund strategies in an effort to curb asset growth. The London-based firm plans to distribute the funds in January, reducing its assets under management to approximately $75 billion The move aligns with a broader trend among top hedge fund […]
UBS has raised its 2026 mid-year gold target price to $4,500/oz – up from $4,200 previously – on Fed rate cut expectations, persistent geopolitical risks, fiscal concerns and strong demand from central banks and ETF investors. “We expect gold demand to rise further in 2026, influenced by anticipated Fed rate cuts, lower real yields, continued […]
A planned US$20 billion (RM82.93 billion) bailout for Argentina from JPMorgan Chase, Bank of America and Citigroup has been shelved as bankers pivot instead to a smaller, short-term loan package. In October, the US Treasury reached a US$20 billion exchange-rate stabilisation agreement with Argentina, to be paired with a bank-led debt facility for the same amount. The deal came […]
Africa’s estimated $100 billion credit shortfall for small and medium enterprises is forcing banks, telecom operators, and fintech startups into deeper and unexpected partnerships. The Africa-wide figure comes from a detailed assessment by the African Development Bank (AfDB), which identifies SME financing constraints as one of the continent’s most persistent economic obstacles and warns that […]
The economic momentum generated by the White House meeting between Saudi Crown Prince Mohammed bin Salman and US President Donald Trump on Tuesday shifted swiftly to the US-Saudi Investment Forum at the Kennedy Center in Washington, D.C. It was here on Wednesday that high-level government agreements announced in the Oval Office and at a White […]