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Brazil, Russia, India and China – together termed BRICs have been an investment disaster and were a marketing-led concept , according to John-Paul Smith, emerging markets equity strategist at Deutsche Bank.
John-Paul Smith, global emerging markets equity strategist at Deutsche Bank gives his view on emerging markets, "The BRICS have been a disaster, they are almost un-investible."
Recent news out of India has given investors little to cheer about as Asia’s third largest economy grapples with slowing growth, stubborn inflation and fiscal inefficiencies that threaten to strip it off its investment grade rating.
McDonald’s, the US-based hamburger chain, is to open its first ever vegetarian-only outlets in two Indian pilgrimage centers as it seeks to expand in a market where cows are sacred and beef-eating taboo.
“The risk-return reward of investing in emerging markets works very much in your favor as opposed to investing in some of the U.S. stocks that have gone up spectacularly well this year,” one pro says.
Gross domestic product (GDP) growth in India picked up pace in the April-June quarter helped by a rise in construction output, prompting economists to say the worst might just be over for Asia’s third largest economy struggling to return to the days of 8-9 percent growth rates.
India’s gross domestic product (GDP) report is due out Friday and economists are not expecting any dramatic turnaround in Asia’s third largest economy. The consensus is that growth in the April to June quarter was likely a repeat of the previous quarter’s lackluster 5.3 percent - but investors are shrugging it off.
Long known as India’s software hub and a magnet for information technology (IT) jobs, Bangalore is facing challenges as other Indian cities compete for IT investment and the nation’s economy struggles with slowdown and graft. The Christian Science Monitor reports.
According to the U.S. government’s Energy Information Agency, “In 2009, India was the fourth largest energy consumer in the world, after the United States, China, and Russia. Despite a slowing global economy, India's energy demand continues to rise. As vehicle ownership expands, petroleum demand in the transport sector is expected to grow in the coming years. While India's domestic energy resource base is substantial, the country relies on imports for a considerable amount of its energy use. According to the International Energy Agency, hydrocarbons account for the majority of India's energy use.”
Greater spending from the burgeoning emerging market middle class is one of those themes global and emerging market investors have clung to as developed market consumers and governments deleverage. But there’s a growing risk emerging market consumers could start pulling back as industrial commodity prices fall and higher food prices lighten consumers’ wallets.
India has been in the headlines for all the wrong reasons lately - erratic policy, massive power failures and the risk of becoming the first BRIC country to lose its investment grade status. But is it wise of investors to ignore about 6 percent growth in an era where many economies are struggling to stay out of recession?
Many urban, upper middle class Indians have not cut back on spending despite a slowing economy and rising prices.
Indian corporates already under stress from a slowing economy cannot afford a credit ratings cut, which would raise their borrowing costs, further hurting profitability, Chanda Kochhar, CEO of the country’s second-largest lender ICICI Bank told CNBC.
Tackling high inflation remains the top priority for India’s central bank and it is the government’s responsibility to do more to spur growth in the weakening economy, Subir Gokarn, the Deputy Governor of the Reserve Bank of India (RBI) tells CNBC.
Which locations have Wall Street companies chosen for their mid-level operations? Read ahead to find out.
Vishnu Varathan, Market Economist, Mizuho Corporate Bank and Rahul Bajoria, Regional Economist, Barclays discuss the challenges facing India as its economy expands at its slowest pace in almost a decade.
The weak Indian rupee has impacted earning s at Standard Chartered Bank and India needs to exercise some “fiscal control” with regards to the currency, Jaspal Bindra, CEO Asia for Standard Chartered, said on Thursday.
India has replaced China as the world’s largest arms buyer, accounting for 10 percent of all arms purchases during the past five years, the New York Times reports.
First it was corruption of staggering proportions, then an ill-conceived tax to claw back capital gains from foreign companies; that was followed by slowing growth and a swooning rupee. Now a power blackout in India has left 700 million people without electricity.
With a drier-than-hoped monsoon season, power outages threatening to cripple large parts of the economy, high interest rates and inflation, India’s growth story has faltered this year.