Raghuram Rajan Top Contenders To Replace Mark Carney Bank Of England Governor

New Delhi: Raghuram Rajan has delivered some uncomfortable economic truths in a career spanning the International Monetary Fund and powerful positions in his native India. The question is whether Brexit Britain is ready to hear them from another foreign Bank of England governor.

The job of stewarding the U.K.’s monetary policy and maintaining its financial stability has rarely been more political, and Rajan is the only outsider among the top contenders in the running to replace Mark Carney, according to bookmakers and economists who follow the 325-year-old institution.

Carney’s tenure has been overshadowed by the convulsions over Brexit, with some hard liners in the governing Conservatives accusing the Canadian of exaggerating the economic pain and underplaying the benefits of leaving the European Union. As the party chooses a new leader following the resignation of Prime Minister Theresa May, her potential successors have vowed to deliver Brexit, andthe latest deadline is Oct. 31.


Tide Appears To Be Turning For Malaysian Stocks As Biggest Exodus Of Global Funds Since 2015 Dissipates

New Delhi: Bloomberg-compiled data show that tide appears to be turning for Malaysian stocks as the biggest exodus of global funds since 2015 dissipates. Overseas investors poured a net $84 million into the nation’s stocks last week, the most since late January,.

The FTSE Bursa Malaysia KLCI Index has clawed back about half of this year’s more than 5% loss that had made it the world’s worst major market. Areca Capital Sdn. says it’s time to buy, and company earnings are unlikely to get any worse.

“There is a bottom in earnings downgrades if you look at results, too-low expectations and low base,” said Danny Wong, chief executive officer at Areca Capital Sdn. “We started to nibble in stocks two weeks ago after raising cash since the start of the year,” he said. Wong has been buying stocks with exposure to glove makers and companies tied to consumer and digital services.


State Bank Of India Launches Repo Rate-Linked Home Loan Product From July 1

New Delhi: The country’s largest lender, State Bank of India (SBI), has launched repo rate-linked home loan product effective July 1. So far, all new floating rate home loans were linked to marginal cost of fund based lending rate (MCLR) since August 2016. From July 1, you will have the option to choose between MCLR-linked home loan rate and repo rate-linked home loan rate. “Customers coming to us for floating rate home loans will be offered both options—MCLR-linked home loans as well as repo rate-linked home loans,” said PK Gupta, managing director, SBI. If you opt for the repo rate-linked home loan, you will see a direct impact whenever the repo rate changes. Here is how the product works and what it means for you:


Amazon Founder Says Come To Me If You Are Willing To Play Gamble With Me On Disruptive Ideas

New Delhi: The world’s richest man, in a free-wheeling firechat at Amazon “re: Mars” event here, said that he is very stubborn on big ideas. From using Artificial Intelligence (AI) to deliver packages faster to helping developers build capabilities based on Machine Learning (ML) to delight its customers, Amazon Founder and CEO Jeff Bezos has an advice for dreamers and builders: Come to me if you are willing to play the gamble with me on disruptive ideas.

“I’m flexible on the details but I don’t like to give up on things that that we’re working on. If you want to be an entrepreneur, the most important thing is to be customer obsessed, so don’t just satisfy your customers, figure out how to absolutely delight them,” Bezos told the gathering last week.

“The number one thing is passion -- whosoever your customers are. You have got to have some passion for the arena that you’re going to develop and work in.


Three Indian-Origin Women Named By Forbes Among America’s 80 Richest Self-Made Women

New Delhi: Three Indian-origin women have been named by Forbes among America’s 80 richest self-made women, the “ceiling crashers” and “overachievers” blazing their own trails as they create new businesses and amass fortunes. President and CEO of computer networking firm Arista Networks Jayshree Ullal, cofounder of IT consulting and outsourcing firm Syntel Neerja Sethi and CTO and cofounder of streaming data technology company Confluent Neha Narkhede are in the Forbes list of ‘America’s Richest Self-Made Women 2019’.

The list has been topped by Diane Hendricks, who chairs ABC Supply, one of the largest wholesale distributors of roofing, siding and windows in America. The 72-year old has a net worth of USD 7 billion.