Salient to Investors: Bachhraj Bamalwa at All India Gems & Jewellery Trade Federation said Indian households and temples hold 25,000 metric tons of gold – 10 percent would ensure supplies to Indian jewelers for 3 years. Bamalwa said Indians will continue spending on gold on marriages and in festivals, and with no social security, investment in
READ MORE... →Salient to Investors: Joshua Shapiro at Maria Fiorini Ramirez the US economy will grow 1.5 percent in 2013. monetary policy is having a limited near-term impact on growth the $1 trillion U.S. fiscal deficit is an important drag on future expansion. adjustments that affect the economy are all very long-term and are
READ MORE... →Salient to Investors: Credit Agricole CIB said markets are pricing in an increasing likelihood that India’s credit rating will be cut to junk status. The median economist predicts Q3 GDP will increase 5.3 percent from a year ago. Sajjid Chinoy and Jahangir Aziz at JPMorgan expect full-year growth through March 2013 to be 5.6 percent, and 6 percent the following
READ MORE... →Salient to Investors: Official inflation data is often incomplete or months out of date. Jahangir Aziz at JPMorgan Chase said that to a large extent, the Reserve Bank of India is essentially making decisions in the dark – India lacks a solid, good measure of inflation with much broader coverage of services, and
READ MORE... →Salient to Investors: 10 of 26 analysts analysts expect the RBI to cut the repurchase rate to 7.75 percent from 8 percent, 2 expect a reduction to 7.5 percent and the rest no change. Rajeev Malik at CLSA Asia-Pacific Markets cites blatant pressure from the government to ease and it will be hard
READ MORE... →Salient to Investors: Men’s wages are growing faster than women’s in China. Japan and South Korea have famously thick glass ceilings. China has an estimated 20 million to 30 million surplus men, and India is not far behind. In the 2020s in China and northwest India, marriageable men will outnumber marriageable females by 15 to 20
READ MORE... →Salient to Investors: For the first time in 13 years, the real, ruble and rupee are weakening the most among developing-nation currencies, while the yuan has depreciated more than in any other period since its 1994 devaluation. Investors are fleeing the BRICs, after Brazil’s consumer default rate rose to the
READ MORE... →Carl Pope says: Abundant, cheap fossil-fuel energy – that created the modern consumer economies of the U.S., Europe, Russia, Australia and Japan – is not viable in the 21st century due to cost. Coal is geologically more abundant than oil, but cheap coal, close to population centers, is not. Powder
READ MORE... →Salient to Investors: A prolonged slowdown in the BRICs threatens a world economy in its weakest spell since the end of the 2009 recession, which the BRICs helped shorten by contributing about half of the international expansion since 2007. Citigroup’s surprise index, which measures how much data miss predictions, is
READ MORE... →Salient to Investors: Indian GDP rose the least in nine years last quarter. Standard & Poor’s said slowing growth and political roadblocks to economic policy risks India becoming the first BRIC to lose investment-grade credit rating – economy in much better shape than earlier, especially the early 1990s, with $250 billion in foreign-exchange reserves and a floating exchange
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