India Investment Rebound Hinges on This Growth Engine of Economy

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Source: Bloomberg MarketsIndia’s dominant services sector is not called the economic engine without reason.The sector, which accounts for about 55.2 percent of gross value added, is likely to lead growth in gross fixed capital formation -- a measure of investment spending -- that had remained subdued in the last couple of years, according to an analysis by Care Ratings Ltd.The … [Read more...]

Pity Japan Bulls Who Get Inflation and a $200 Billion Stock Rout

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Source: Bloomberg MarketsTokyo bulls can’t buy a break. Just as the economy shows signs of life, they’re ensnared in a global equity meltdown that on Friday alone lopped $200 billion from the price of shares.Indexes in Japan are now squarely below their worst level of February, down more than 8 percent for the year and headed for more as the Topix index opened 0.8 percent lower … [Read more...]

Saudis Intercept Multiple Ballistic Missiles Fired From Yemen

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Source: Bloomberg MarketsSaudi Arabia said it intercepted seven ballistic missiles fired at Riyadh and other cities by Houthi forces in Yemen, marking an escalation from previous rocket launches at the kingdom.The missiles were intercepted over the northeastern part of the capital and the cities of Najran, Jazan and Khamis Mushait. Fragments killed one Egyptian national and … [Read more...]

Chinese Oil Contract to Rival U.S. WTI and U.K.’s Brent Is Born

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Source: Bloomberg MarketsChina launched its first ever crude-futures contract as the world’s biggest oil buyer seeks to wield greater power over pricing and challenge benchmarks in the U.S. and Europe.The long-awaited yuan-denominated futures on the Shanghai International Energy Exchange traded at 432.3 yuan a barrel ($68.47) for September settlement by 11:30 a.m. local time … [Read more...]

China Is About to Shake Up the Oil Futures Market

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Source: Bloomberg MarketsIt’s taken a quarter of a century, but China finally has its own oil futures. At 9 a.m. local time on Monday, crude contracts began trading on the Shanghai International Energy Exchange. Futures for September settlement opened at 440 yuan a barrel, up from a reference price of 416 yuan. The world’s biggest oil buyer is offering yuan-denominated futures … [Read more...]

Toys ‘R’ Us Champion Larian Steps Forward With $100 Million to Save Stores

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Source: Bloomberg MarketsThe head of the company that created Bratz dolls and Little Tikes is putting $100 million toward a long-shot bid to save Toys “R” Us.MGA Entertainment Inc. Chief Executive Officer Isaac Larian is aiming to buy the toy-store company’s assets as part of an investment group that includes a crowd-funding campaign. He said it’s his own money on the line, and … [Read more...]

Thai Tourism Stocks Are Looking Good as Trade War Looms

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Source: Bloomberg MarketsAs a U.S.-China trade war threatens to wreak collateral damage on the globally-connected North Asian economies, Southeast Asia’s domestically-focused stocks are starting to look more appealing.“Asean would act as a relative safe haven during a trade war,” said Nader Naeimi, the Sydney-based head of dynamic markets at AMP Capital Investors Ltd., which … [Read more...]

TPG Nears Deal for India’s No. 2 Listed Hospital Chain

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Source: Bloomberg MarketsA consortium led by TPG is nearing an agreement to gain control of Fortis Healthcare Ltd., India’s second-largest private hospital chain by market value, people with knowledge of the matter said.The investor group, which also includes Manipal Health Enterprises Pvt, could announce a deal as soon as the next few days, according to the people, who asked … [Read more...]

Dropbox Stock Pop Puts Kansas Native in Tech Billionaires Club

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Source: Bloomberg MarketsDropbox Inc.’s warm welcome from the market has minted the startup’s second billionaire.Co-founder Arash Ferdowsi’s net worth climbed to $1.1 billion Friday as shares of the file-sharing company jumped as much as 50 percent on its first day of trading. The 32-year-old Kansas native joins co-founder and Chief Executive Officer Drew Houston in the … [Read more...]

The Manhattan Luxury-Home Market Is Screaming: I’m Overpriced!

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Source: Bloomberg MarketsLuxury homes in Manhattan are selling at the biggest discounts on record as owners grow tired of waiting for buyers to match their price.Homes priced at $4 million or more that went into contract in the first 12 weeks of the year had their asking prices cut by an average of 10 percent, the most in data going back to 2012, according to Olshan Realty Inc. … [Read more...]