They are of peculiar relevance as much as imminence for the Indian economy: Non-financial or shadow lenders are the country’s backbone of infrastructure investment. Now these very institutions have slid into trouble.
Ouch! Yesterday’s manufacturing PMI numbers for the UK have confirmed the bleak projection of our UKES in the worst possible manner.
As of this June, updates of the SiNGES, our one-stop economic indicator for Singapore, will be available as podcasts, too.
Here’s the first edition:
The confusion about Brexit has just become considerably greater. Yes, the government has survived voting on the amendments to its EU Withdrawal Bill without a formal defeat. Yet that was achieved only at the price of an increased danger of the Prime Minister’s eventual downfall later on by aggravating the factional infighting in the Tory party.
All over the months in between 2011-2015, retail sales growth in Hong Kong lost steam continuously, falling to a multi-year low of almost -20 per cent year-on-year at the beginning of 2016. Once among the stars of retail hot spots, the city state lost out to direct competitors such as Singapore as much as upcoming cities in Asia and the Gulf states.
The US Treasury 10-year yield has hit three per cent finally, and investors as well as businesses and governments wonder whether it will rise further. Pro and con Arguments are exchanged with increased velocity as some fear the end of the decades-old bonds bull market has arrived. Well, it would appear it has indeed.
Lately, the Korean minimum wage has become a bone of contention. Its increase of some 16 per cent to Won7,530 this year has been frowned at by economists and small businesses; in 2020, it is set to rise by yet a further, whopping 30 per cent plus.
By cutting its main policy rate to 9.5 per cent, Patrick Njoroge and his colleagues at the Central Bank of Kenya have reduced the country’s key lending rate to its lowest in one and a half years. However, in a rather perverse way, at least in the short run this might have just the opposite effect of what a rate cut is usually expected to trigger.