How a billionaire’s empire lost $100bn in days
2023-02-02
The business tycoon has seen billions easily wiped off his prosperity after an US expense firm’s scathing record.Continue Reading
Adani’s adversity raises the stakes for India and investors
2023-02-02
Since the Jan 24 Hindenburg report which alleged improper use by the Adani Group of offshore tax havens and stock manipulation and also raised concerns about high debt, the market capitalisation of seven listed Adani Group companies has fallen by half or nearly US$100 billion. Its dollar bonds have tumbled. ToContinue Reading
Can India survive Adani’s $100 billion collapse?
2023-02-02
Indian Prime Minister Narendra Modi can’t be happy about the Adani Group market meltdown stealing his thunder. Modi’s Bharatiya Janata Party (BJP) had planned to use this week’s annual budget to launch its argument to remain in power after next year’s national elections. Yet Modi’s plans to trim debt, support middle-class families and empower women […]Continue Reading
Why ‘decoupling’ is a fatally flawed concept
2023-02-02
A recent issue of Bloomberg Businessweek said, “Despite the heated national-security rhetoric in Washington and talk of ‘decoupling’ in policy circles, the world’s top two economies remain firmly intertwined.” The article goes on to say that bilateral trade between the US and China for year ending 2022 is likely to be the highest ever recorded. […]Continue Reading
Can Sri Lanka trade its way back to prosperity?
2023-02-02
Ben Chu, Newsnight’s economic editor, takes a closer look at the country’s economic woes.Continue Reading
Pakistan’s economy in ‘collapse’ as IMF visits
2023-01-31
POLITICAL MAYHEM Pakistan is locked in an endless cycle of servicing external debt. State Bank governor Jamil Ahmed last month said that the country owed US$33 billion in loans and other foreign payments before the end of the fiscal year in June. A diplomatic offensive has seen US$4 billion rolledContinue Reading
Stress tests ahead for Vietnam’s post-Covid boom
2023-01-31
In 2022, the geopolitical tensions caused by the war in Ukraine, slowing growth in the Chinese economy and sharp rises in energy and food prices led to a significantly higher inflationary outlook globally. These factors all added to the risks confronting Vietnam as its economy recovered from its lengthy Covid-19 lockdowns. Communist Party General Secretary Nguyen Phu […]Continue Reading
Adani Group says Hindenburg fraud claim ‘calculated attack on India’
2023-01-30
Last week the particular Indian firm possessed by Asia’s wealthiest man had a lot more than $50bn wiped away its market value.Continue Reading
India’s Adani hits back at Hindenburg, insists made full disclosure
2023-01-29
NEW DELHI: India’s Adani Group issued a detailed response on Sunday (Jan 29) to a Hindenburg Research report that sparked a US$48 billion rout in its stocks, saying it complies with all local laws and had made the necessary regulatory disclosures. The conglomerate led by Asia’s richest man, the IndianContinue Reading
Sri Lanka leader suspends parliament until policy address
2023-01-28
He said that the suspension also “symbolises a fresh start” as the president gets the opportunity “to announce all the new things that are going to be done”. Unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic have led to aContinue Reading