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Three global rating agencies, Fitch, Moody's and Standard and Poor’s, have recently raised India’s outlook, putting the country on track for further rating upgrades. Below is a summary of the rating agencies comments on India.   Fitch Rating Outlook – April., 2015 Broad based structural reform agenda has brought dynamism back to the Indian economy New government policy initiatives to bring the investment climate in…
India in a Sweet Spot Cyclical recovery has begun Macro imbalances have been reduced External environment expected to remain benign, particularity the outlook for oil Structural reforms are in progress under the new government Overall, Goldman Sachs remains positive and recognizes India’s “favorable demographics and the scope for catch-up from a very low base in investment, infrastructure and productivity”. In their report, they state that…
Many emerging markets have delivered significant returns this year, far outpacing the major indices in Canada and the United States. In mainland China, for instance, the Shanghai Stock Exchange Composite Index has surged 38 percent year-to-date, or 42 percent when you factor in China’s rising currency against the loonie. Korea, Taiwan, the Philippines, even Russia, have all posted double-digit gains since January for investors using…
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Hear commentary directly from Excel Funds’ analysts, portfolio managers and on-the-ground sub advisors and gain insights on where the investment opportunities are in the emerging markets today. http://www.excelfunds.com/index.php/exlegi-webcast-april-27th The Excel India Growth & Income Fund Managed by: Excel Funds Management Inc Su-Adviser: The Birla Sun Life Group As the new majority government led by Prime Minister Modi delivers on business-friendly reforms attracting foreign direct investment…
The Modi administration proposes to put an end to the controversial retroactive tax actions which have frazzled foreign investors. Finance Minister Arun Jaitley stated that the bill on retroactive taxation, that was passed in 2011, prior to the current government coming to power, will be renounced in the interest of encouraging foreign investment. In an article in the Financial Times, Mr. Jaitley stated that he…
April 23, 2015 - Thirteen percent of Canadian exports are now directed to emerging markets, up almost threefold over the last 15 years, and it makes good sense for domestic companies to continue that trend, says the head of Export Development Canada. “Companies in all sectors should look ahead and follow high-growth markets,” said Benoit Daignault, the chief executive officer of EDC, Canada’s export credit…
The global rating agency Moody's, believes that emerging economies in the Asia Pacific region, including India, are resilient to external shocks. According to the rating agency, "Asia Pacific sovereigns generally exhibit strong external payments positions and government debt profiles relative to peers elsewhere in the world - factors that should stand them in good stead." India is experiencing “accelerating GDP growth, improving fiscal and monetary…
India is moving up the global pecking order for Japanese automakers. The country now ranks among the top markets for Japanese automobile companies such as: Suzuki, Yamaha, Honda, Toyota and Nissan. In fact, the Indian market now ranks among the top five markets globally for almost all the top Japanese automobile brands. Maruti Suzuki is the leader in the car segment in India, which is…
April 23, 2015 - There has been plenty of concern in the investment community this year about China’s slowing economy. But with all the handwringing, it’s easy to forget the shear size of the expansion that continues in the world’s second-largest economy. China’s modern-day Silk Road is a case in point. First mentioned publicly by Chinese President Xi Jinping in 2013, the gargantuan scale of…
Clients who consider emerging markets to be too risky can benefit by investing in firms that do business in these regions. As multinational corporations (MNC) based in developed countries increasingly seek to leverage growth opportunities in fast-growing emerging markets, they offer your clients the ability to get exposure to emerging markets without investing directly in those markets. However, there is no consensus about whether developed-markets…
The visit to Canada by Prime Minister of India, Narendra Modi, netted commercial agreements valued at $1.6 billion in a wide range of sectors, including aerospace and defence, education, energy, mining, infrastructure, sustainable technologies, and information and communications technology. All together, agreements were signed with 13 companies, which include: Air Canada will reinstate its direct Toronto-Delhi flight on Boeing 787 Aircraft commencing in November 2015.…

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