By Uditha Jayasinghe and Sudipto Ganguly COLOMBO (Reuters) -Sri Lankans handed Anura Kumara Dissanayake a thumping win in a snap general election, giving its new leftist president greater legislative power to pursue policies to alleviate poverty and fight graft as the country recovers from a financial meltdown. Dissanayake, a political outsider in a country dominated by family parties for decades, comfortably won the island’s presidential election in September. But his Marxist-leaning coalition, the National People’s Power (NPP), had just three of parliament’s 225 seats before Thursday’s election, prompting him to dissolve it and seek a fresh mandate. The NPP won…
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By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options players are piling in to riskier bets across the U.S. stock market, supporting a rally that has come on the back of fading election worries and expectations of a Republican lock on power in Washington next year. The bullish plays span a wide array of assets, from electric car maker Tesla (NASDAQ:) to small-cap stocks and regional banks. Together, they have helped drive the ‘s gain of 3% since the Nov. 5 vote. “We’ve got this relief from this big risk,” said Garrett DeSimone, head of quantitative research at OptionMetrics. “It’s…
Bookings for Disney’s first cruise in Asia open on Dec. 10, 2024, about a year ahead of the ship’s maiden voyage, which is scheduled to depart Singapore in December 2025.Prices for a three-night cruise on the Disney Adventure for two adults start at $958, while double occupancy rates for four- and five-night cruises start at $1,318 and $2,694, respectively, according to the company’s website.But those who want rooms with a view can expect to pay more. Rates for a three-night cruise for two adults jump to $1,318 for an ocean-view room, and $1,438 for a room with a private verandah.…
Federal Reserve Bank Chair Jerome PowellChip Somodevilla/Getty Images Indexes slipped Thursday as traders focused on remarks from Fed Chair Jerome Powell. Powell said the Fed is in no hurry to cut rates, and reiterated the strength of the US economy. Traders also digested wholesale inflation data, which was in line with expectations. Indexes ended lower on Thursday, with the election rally fizzling out as traders digested remarks from Federal Reserve Chair Jerome Powell and assessed the latest inflation data. The S&P 500 and Nasdaq fell more than 0.5%, while the Dow Jones Industrial Average lost over 200 points. The 10-year…
A look at the day ahead in European and global markets from Stella Qiu Asian shares ended a brutal week on a steadier note helped by Chinese consumers pushing retail sales beyond forecasts after a blitz of policy support measures shored up… well, the stock market, mostly. Yes, property sales picked up a tad but they are still down a whopping 15.8% from a year ago. A decline in property investment deepened and home prices fell the most in nine years – hardly the turnaround investors wanted to see. Chinese shares trimmed losses after the data blast though blue chips…
As a founding member of the International Solar Alliance, India can leverage its natural abundance in renewable energy to develop an efficient primary market for carbon credits Source link
By Nicole Jao and Gabrielle Ng SINGAPORE (Reuters) -Oil prices fell on Friday on signs demand in China, the world’s biggest crude importer, continues to underperform amid its uneven economic recovery. futures were down 65 cents, or 0.9%, at $71.91 a barrel by 0450 GMT. U.S. West Texas Intermediate crude futures were down 62 cents, or 0.9%, at $68.08. For the week, Brent is set to fall 2.7% while WTI is set to decline 3.3%. “While oil prices have somewhat stabilised around the $71.00 level of support this week, the lack of a concrete bullish catalyst suggests that price recovery…
(Bloomberg) — Turns out that Billionaire investor David Tepper, who said recently he would buy “everything” China-related amid Beijing’s stimulus blitz, trimmed exposure in e-commerce giant Alibaba Group Holding Ltd. in the third quarter. Most Read from Bloomberg Tepper’s Appaloosa Management cut its Alibaba stake by 5% in the three months through September, according to a 13F filing released on Thursday. Alibaba, however, remains the hedge fund’s largest holding, accounting for 16% of its $6.7 billion equity portfolio. Tepper also trimmed exposure in the iShares China Large-Cap exchange-traded fund, the KraneShares CSI China Internet ETF and Baidu Inc. At the…
By Amy Lv and Pratima Desai BEIJING/LONDON (Reuters) – New capacity for converting bauxite into alumina due online next year is set to ease tight supplies and potentially halt a record-breaking price rally of the material used to make aluminium. Higher alumina prices outside China have turned the top producer and consumer into a net exporter this year from a net importer and boosted prices of aluminium, which is used in the transportation, construction and packaging industries. Disruptions in supplies of bauxite from Guinea and Brazil and output suspensions in Australia contributed to a 70% surge in alumina prices this…
At his perch just across the river from the Federal Reserve, Neal Wilson likes to evangelize about the opportunity that the regulator is helping create for investment firms like his.A campaign by US watchdogs to strengthen banks’ balance sheets is spurring lenders to explore creative ways to reduce risks on their books. Increasingly, they’re turning to significant risk transfers — a bit of Wall Street alchemy that shifts the first losses on loans for things like cars, commercial properties and corporate operations — to investors such as Wilson. If the loans perform well, he can reap a tidy profit. Source…