The Nasdaq closed higher Tuesday, while the S&P 500 and Dow declined as investors assessed economic data for the Federal Reserve’s policy outlook. Nonfarm payrolls saw a modest increase, but the unemployment rate rose. Investors are now pricing in significant interest rate cuts for next year.Read More
Oil prices surged Wednesday following President Trump’s order for a complete blockade of sanctioned Venezuelan oil tankers. This move, aimed at increasing pressure on President Maduro, introduces fresh geopolitical concerns amid existing demand worries. The blockade could impact significant daily oil volumes, potentially boosting prices. The U.S. has recently intensified its campaign against Venezuela’s oil sector.Read More
Gold prices surged as a weaker-than-expected U.S. jobs report fueled expectations of future interest rate cuts. The rising unemployment rate in November pressured the dollar and Treasury yields, making gold more attractive. Investors are now keenly awaiting key inflation data this week for further market direction.Read More
Kotak Mahindra Bank is restructuring its microfinance portfolio, significantly reducing joint liability group (JLG) loans to focus on individually underwritten loans. The bank aims to rebuild its microfinance book to previous levels, cautiously expanding to manage the cyclical nature of the business. Early indicators for its new underwriting model are encouraging, with improved collection efficiency.Read More
State Bank of India’s chairman CS Setty has reshuffled top management portfolios following the arrival of new MD Ravi Ranjan. Ranjan will now oversee risk, compliance, and stressed assets, while Rana Ashutosh Kumar Singh takes charge of international banking, global markets, and technology. The changes aim to streamline operations and leverage expertise across key banking functions.Read More
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