On November 8, 2016, Modi declared that Rs500 ($7.30) and Rs1,000 notes were no longer legal tender. He hailed demonetization as an iconic move to nip forfeit currency and corruption in the bud. Has Narendra Modi succeeded in removing black money from the economy or has he brought India to its knees?
Nick Malkoutzis via Macropolis | One of the things that makes children laugh at Tom and Jerry cartoons is the ingenious ways that Jerry finds to set Tom up. But the real punchline, and the most laughter, is generated by Tom’s inexplicable ability to fall for Jerry’s stunts all the time.
Since Donald Trump’s victory in the US elections, the markets have seen declines in fixed income securities – bonds have lost 1.5 billion dollars – and rises in equities – with the value of global equities rising by 1.7 billion dollars. The emerging markets have retreated, while there has been an improved performance from cyclical sectors, particularly the financial sector. So we need to ask what will be the best bets for investors once Trump’s presidency begins.
The unexpected weakness of the US dollar continues to provide support to precious metals. Prices gained 1.2% and 2.3% to USD 1,217 and USD 17.2 per ounce yesterday as president-elect Donald Trump said the dollar was overvalued.
The Industry Minister is preparing a new renewable energy auction for the end of March. It plans to invite tenders for 3,000 technology neutral MW. This will try to avoid some of the mistakes made in the previous one at the start of 2016. Furthermore, it is another boost for these technologies to comply with the EU directive of fulfilling at least 20% of its total energy needs with renewables by 2020.
Fair Observer | Since before he first took over the presidential office in 2009, the young senator from Chicago Barack Obama carried an air of hope and promise. “Yes we can!” became a winning slogan that sought to propel America forward into a brighter future.
Santander will not have to take the Fed’s qualitative stress test. From this year, only those banks with over $250 billion on their balance sheet. Its US holding has just $142 billion in assets. Not having to take the qualitative part of the test will increase Santander’s flexibility for implementing its plans to reward shareholders (dividends and/or share buybacks).
If Theresa May could deliver on the proposals in her speech the UK would not see a ‘ hard Brexit ’. PM May suggested, to our mind, a ‘ cherry picking approac.Furthermore, PM May did not address the divorce bill the EU has said it will see.
Cellnex shares have under performed the sector by c.16% since mid -Oct 2016, mainly due to higher government bond yields and the market’s rotation out of yield stocks which, in the case of TowerCos, may have been exacerbated by their dependence on M&A.
As was expected, Teresa May announced that her plan is for the UK to exit the EU and the single market, also taking back control of its frontiers. Analysts believe that she will face problems with her EU partners because she seems to overlook the fact that the Brexit negotiations are not one-sided.