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The gathering comes at a time when global investors and banks are warning that confidence is waning in China's economic outlook. Such a meeting, with a clear agenda to discuss challenges facing global fund managers investing in China, is rare, the three sources said, and reflected Beijing's keenness to shore up confidence among foreign investors. Weighed down by strict COVID measures, China's economy grew just 3% in 2022, one of its worst showings in decades. The meeting is organized by China's fund regulator Asset Management Association of China (AMAC). U.S. dollar-denominated fundraising by China-focused venture capital and PE firms this year also had its weakest first half year in the past decade, data from industry tracker Preqin showed.

Persons: Fang Xinghai, didn't, Andrew Collier, Premier Li Qiang, Xie Yu, Julie Zhu, Selena Li, Kim Coghill Organizations: U.S ., Reuters, Canada's, Ontario, China Securities Regulatory Commission, Management Association of China, ., Orient Capital Research, Ant, Premier, Wednesday, Thomson Locations: HONG KONG, Beijing, U.S, China, Taiwan, Hong Kong

☆ Morning Bid: Banks lob earnings into giddy markets
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +4 min

But there's likely to be a scattering of the herd in terms of performance during that three months. For universal banks such as JPMorgan and Wells Fargo that serve retail consumers and firms, earnings per share are expected to have jumped more than 40% over the previous year. Overall, the U.S. earnings season is expected to show S&P500 profits down 6.4% from the same period a year earlier - with revenue down a more modest 0.8%, according to Refinitiv research. Stock markets around the world and S&P500 futures held most of their outsize weekly gains, however, and were mostly flat into the open. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, Wells, behemoths Goldman Sachs, Morgan Stanley, Christopher Waller, that's, Toby Chopra Organizations: Federal Reserve, JPMorgan, Citigroup, Bank, Export, Stock, Nasdaq, Bank of Japan, University of Michigan, European Union, Brussels Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Wells Fargo, BlackRock, China, Brussels

☆ India is on pace to pass the US on the list of the world's biggest economies — but there's a looming chance it squanders this promise
▼ + stars: | 2023-07-14 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

According to a recent Goldman report, India's economy is projected to top America's around 2075, becoming the second-largest in the world. India's economic growth is fueled by several key factors, including its vast labor force, technological advances, and burgeoning capital investment. A significant driver of this growth is innovation and technology, as noted by Goldman Sachs's chief India economist, Santanu Sengupta. The Goldman Sachs team noted that the biggest risk facing the country is if the labor force participation rate does not reverse its current 15-year downward trend. "If you have more opportunities — especially for women, because the women's labor force participation rate is significantly lower than men's — you can shore up your labor force participation rate, which can further increase your potential growth."

Persons: Goldman Sachs, Goldman, Zahra Tayeb, Goldman Sachs's, Santanu Sengupta, Sengupta, Tan, Elon Musk Organizations: Service, Apple, SpaceX, Goldman Locations: India, China, Wall, Silicon, India's, Mexico, Pacific

☆ Rupee to climb near 82/USD on bets Fed will end rate hikes
▼ + stars: | 2023-07-13 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, July 13 (Reuters) - The Indian rupee is poised to rise on Thursday on expectations that cooling inflation in the United States will allow the Federal Reserve to pause interest rate hikes soon. Non-deliverable forwards indicate the rupee will open at around 82-82.05 to the U.S. dollar compared with 82.2475 in the previous session. "Having talked of an upside breakout (for USD/INR) last week, this has been quite a turnaround," a fx trader said. The larger-than-expected slowdown in the U.S. inflation fuelled expectations that the U.S. Federal Reserve is close to halting rate hikes. "The Federal Reserve seems intent on pushing ahead with a July rate hike, but the need for additional tightening thereafter is questionable," ING Bank said in a note.

Persons: interbank, Nimesh Vora, Nivedita Organizations: Federal Reserve, U.S, Reserve Bank of, U.S . Federal, ING Bank, Korean, Brent, Thomson Locations: MUMBAI, United States, Reserve Bank of India, U.S, Malaysian

[1/3] Pedestrians are reflected on a window of a commercial building at closing hour at a financial district in Tokyo, Japan, November 22, 2017. The number of activist funds has trebled over the last five years to 69, according to data from IR Japan. Joining a hedge fund where you might lose your job tomorrow because you lost money or didn't raise funds is a very foreign world for such workers." "Many global hedge funds are opening up Tokyo offices and hiring talent" to support a growing investment focus, said Masa Yanagisawa, head of prime services Japan at Goldman Sachs in Tokyo. Hong Kong-headquartered activist hedge fund Oasis Management has hired people in Japan this year, including a former senior regulatory official it appointed to its advisory council.

Persons: Kim Kyung, Warren Buffett, Stefan Nilsson, Masa Yanagisawa, Goldman Sachs, Seth Fischer, FinCity.Tokyo, Keiichi Aritomo, Toby Bartlett, Goldman's Yanagisawa, UBP, Cedric Le Berre, Xie Yu, Makiko Yamazaki, Scott Murdoch, David Dolan, Lincoln Organizations: REUTERS, Global, Nikkei, Funds, Oasis Management, Oasis, Citadel, Citadel Securities, Nasdaq, May, Angel, Asset Management, Thomson Locations: Tokyo, Japan, HONG KONG, TOKYO, Hong Kong, Singapore, Swiss, China, Taiwan, Sydney

☆ India's been touted as the new China — but here are 4 key areas where the South Asian giant is still playing catch up
▼ + stars: | 2023-07-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Some investors see India as the new China, but the South Asian economy still has to narrow a few gaps. These factors make it difficult for India to surpass China as the factory of the world. The country's potential appears brighter after its population surpassed China's, prompting many observers to tout the South Asian country as the next economy to watch. There's so much optimism about India that Goldman Sachs forecasts India's economy will surpass the US by 2075. Here are four ways India is still playing catch-up to its Asian rival, China.

Persons: Goldman Sachs, Pramit Chaudhuri, Chaudhuri, Narendra Modi's, hasn't, Eurasia Group's Chaudhuri, Ashutosh Sharma, Forrester Organizations: Service, Eurasia Group, Swiss, UBS, East, China, US International Trade Administration, Bank Locations: India, China, Wall, Silicon, South Asia, China's, Eurasia

☆ Foxconn eyes India chipmaking incentives after quitting $19.5 billion JV
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Foxconn remains committed to chipmaking in IndiaFoxconn seeks new partner for India chipmaking - sourceTAIPEI/NEW DELHI, July 11 (Reuters) - Taiwan's Foxconn (2317.TW) said on Tuesday it plans to apply for incentives that India is offering under its semiconductor manufacturing policy, a day after the company parted ways with Vedanta (VDAN.NS) on a $19.5 billion chipmaking joint venture. Foxconn withdrew from its semiconductor JV with Indian metals-to-oil conglomerate Vedanta on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. "Foxconn is working toward submitting an application," the company said in a statement. The Vedanta-Foxconn joint venture was among three applicants last year under the government's incentives plan. Explaining its breakup with Vedanta, Foxconn said on Tuesday "there was recognition from both sides that the project was not moving fast enough" and there were other "challenging gaps we were not able to smoothly overcome", without sharing more details.

Persons: India Foxconn, Foxconn, Narendra Modi's chipmaking, Modi, Vedanta, Yimou Lee, Ben Blanchard, Aditya Karla, Jacqueline Wong, Sonali Paul Organizations: India, Vedanta, Semiconductors, Vedanta Ltd, Thomson Locations: chipmaking, India, TAIPEI, DELHI, Taipei, Mumbai, New Delhi

TAIPEI/BENGALURU, July 10 (Reuters) - Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. Foxconn, the world's largest contract electronics maker, and Vedanta signed a pact last year to set up semiconductor and display production plants in Modi's home state of Gujarat. "Foxconn (2354.TW) has determined it will not move forward on the joint venture with Vedanta," the electronics maker said in a statement, without elaborating on the reasons. India, which expects its semiconductor market to be worth $63 billion by 2026, last year received three applications to set up plants under a $10 billion incentive scheme. These were from the Vedanta-Foxconn joint venture, a global consortium ISMC which counts Tower Semiconductor (TSEM.TA) as a tech partner and from Singapore-based IGSS Ventures.

Persons: Taiwan's Foxconn, Narendra Modi's chipmaking, Vedanta, Foxconn, Modi, STMicro, IGSS, Munsif, Ben Blanchard, Aditya Kalra, Louise Heavens, Jason Neely, Alexander Smith Organizations: Vedanta, Apple, Reuters, IGSS Ventures, Intel, Thomson Locations: TAIPEI, BENGALURU, India, Gujarat, Singapore, Bengaluru, Taipei, New Delhi

☆ Most Gulf markets gain; Egypt extends losses
▼ + stars: | 2023-07-09 | by ( Ateeq Shariff | ) www.reuters.com time to read: +1 min

July 9 (Reuters) - Most stock markets in the Gulf ended higher on Sunday in response to Friday's rise in oil prices, while the Egyptian index extended losses for a fourth session. In Qatar, the index (.QSI) gained 0.3%, led by a 1.8% increase in telecoms firm Ooredoo (ORDS.QA). Outside the Gulf, Egypt's blue-chip index (.EGX30) slid 3.2%, extending losses for a fourth session, as foreign investors continue to sell amid difficult economic conditions locally and internationally. Almost all the stocks on the index were in negative territory including Misr Fertilizers (MFPC.CA), which retreated about 18%. Reporting by Ateeq Shariff in Bengaluru; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Dr Sulaiman Al, Ateeq, Alison Williams Organizations: Habib Medical Services, OPEC, Thomson Locations: Saudi, OPEC, Qatar, Ateeq Shariff, Bengaluru

☆ Israeli protests reignite as Netanyahu pushes new justice bill
▼ + stars: | 2023-07-08 | by ( Rami Amichay | ) www.reuters.com time to read: +2 min

[1/5] An aerial view shows protesters as they take part in a demonstration against Israeli Prime Minister Benjamin Netanyahu and his nationalist coalition government's judicial overhaul, in Tel Aviv, Israel July 8, 2023. Tens of thousands demonstrated across the country, with the rally in Tel Aviv drawing crowds far larger than recent protests, news channels N12 News and Channel 13 reported. The protests subsided a little from late March when Netanyahu, under pressure at home and abroad, suspended the plan for compromise talks with opposition parties meant to reach broad agreement over justice reforms. The opposition says that move is another dangerous step towards curbing judicial independence that would eventually subject the Supreme Court to politicians and open the door to corruption. "We have no choice, we have to defend our democracy," said Sigal Peled-Leviatan, 51, a tech worker demonstrating in Tel Aviv.

Persons: Benjamin Netanyahu, Oren Alon TEL, Benjamin Netanyahu's, Netanyahu, Sigal, Maayan, Mark Potter Organizations: Israeli, REUTERS, Nationwide, Thomson Locations: Tel Aviv, Israel, Oren Alon TEL AVIV

☆ Adani case threatens watchdog’s rising credibility
▼ + stars: | 2023-07-06 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

In June the Securities and Exchange Board of India, the country’s markets regulator, disciplined two media tycoons for alleged wrongdoing and strengthened disclosure norms for foreign investors. Going all-in on the Adani case would entail working with other law enforcers, such as the Directorate of Enforcement and the Directorate of Revenue Intelligence. Unless Buch’s team pulls out all the stops, the regulator’s toughest test under her leadership so far is a threat to its rising credibility. The markets regulator on June 12 barred Zee Entertainment Enterprises CEO Punit Goenka and Chair Emeritus Subhash Chandra from holding key managerial positions in any listed company. In a separate order dated June 22 Sebi barred Eros group Managing Director Sunil Arjan Lulla and three group entities including Eros International Media from the securities market, citing accounting irregularities.

Persons: Puri, Gautam, Punit Goenka, Subhash Chandra, Breakingviews, Sebi, Sunil Arjan Lulla, Antony Currie, Katrina Hamlin Organizations: Reuters, Securities and Exchange Board of India, Zee Entertainment Enterprises, Eros International, Reuters Graphics Reuters, of Revenue Intelligence, Securities, Exchange Board, India, Eros International Media, Thomson Locations: MUMBAI

The research arm of BlackRock, the world's biggest asset manager, shifted its view on Japanese equities to neutral from underweight. "We are looking for more evidence of corporate reform to support the enthusiasm for its equity markets that has gripped foreign investors so far this year," wrote analysts at BlackRock Investment Institute, in its mid-year outlook report last week. "It's not the case that we've already seen the completion of offshore investors' quite aggressive investment in Japan equity markets," said Nomura's chief equity strategist for Japan, Yunosuke Ikeda. "Now, a lot of asset owners have decided just not to invest in China any more, and that's made Japan the top dog in Asia." Many analysts and investors, though, consider the declines a healthy and necessary retracement before the next leg higher, with 35,000 often touted as a target for this year as slower-moving foreign investors start to buy in size.

Persons: Nomura, It's, Yunosuke Ikeda, Archie Ciganer, Rowe Price, Ciganer, that's, Warren Buffett, Vikas Pershad, Kevin Buckland, Ankur Banerjee, Junko Fujita, Jacqueline Wong Organizations: Nikkei, BlackRock Investment Institute, Nomura Securities, Graphics, G Investments, Thomson Locations: TOKYO, Japan, BlackRock, China, Asia, Tokyo, Singapore

☆ Samsung’s A.I. Moment Is Here, but Is It Ready?
▼ + stars: | 2023-07-04 | by ( Chang Che | ) www.nytimes.com time to read: +1 min

The introduction of ChatGPT has lit a fire under the shares of companies that produce microchips, the brains of artificial intelligence. Bets on the potential of so-called generative A.I. Samsung Electronics, the South Korean giant, is hoping to get in on the action. At an event in California last week, Samsung detailed what it called its “vision in the A.I. era.” Samsung believes it can snatch market share from the leading chip manufacturer, Taiwan Semiconductor Manufacturing Company, but recently the trend has gone the other way.

Persons: Samsung, TSMC Organizations: Nvidia, Samsung Electronics, Samsung, Taiwan Semiconductor Manufacturing Company, Counterpoint Research Locations: Hong Kong, California, TSMC

☆ China plays it safe with new central bank chief
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 3 (Reuters Breakingviews) - The new boss of the People’s Bank of China (PBOC) is probably a relief to those anxiously watching the future of the most meritocratic regulator in the country. The ruling Communist Party on Saturday appointed Pan Gongsheng, who has been deputy governor for the past 11 years, as party secretary – the de facto boss that supervises the institution. The Wall Street Journal said that would be a prelude to Pan becoming governor next, citing unnamed sources. The appointment of Pan, who has since 2015 also run the State Administration of Foreign Exchange (SAFE), is a surprise. It’s unlikely Pan will deviate much from the current monetary policy trajectories, even if he helms both the party secretary and governor roles.

Persons: Pan Gongsheng, –, Pan, Yi Gang, helms, Yawen Chen, ’, George Hay, Pranav Kiran Organizations: Reuters, People’s Bank of China, Communist Party, Saturday, Street Journal, State Administration of Foreign Exchange, Committee, Cambridge, Harvard, Agricultural Bank of China, U.S ., Twitter, KKR, Thomson Locations: United States, Hong Kong, Shanghai, China

☆ US warns new Chinese counterespionage law puts companies at risk
▼ + stars: | 2023-06-30 | by ( Michael Martina | ) www.reuters.com time to read: +2 min

WASHINGTON, June 30 (Reuters) - The U.S. on Friday warned about a new Chinese counter-espionage law, saying American and other foreign companies in the country could face penalties from Chinese authorities for regular business activities. Chinese lawmakers this year passed a wide-ranging update to Beijing's anti-espionage legislation that goes into effect on July 1, banning the transfer of any information related to national security and broadening the definition of spying. It said the ambiguities of the law meant that "any documents, data, materials or items" could be deemed relevant to Chinese national security, also putting journalists, academics and researchers at risk. Chinese leader Xi Jinping has emphasized national security since taking office in 2012. U.S. officials have told Reuters that since the enactment of the Chinese law in April they have received a flood of questions from businesses and other groups about the risks of traveling to China.

Persons: Xi Jinping, China Nicholas Burns, Michael Martina, Chizu Organizations: U.S . National Counterintelligence and Security, People's, U.S, China, U.S ., Reuters, The U.S . State Department, Thomson Locations: U.S, China, People's Republic of China, Beijing, Washington, The

☆ Factbox: Sri Lanka asks foreign investors for a 30% haircut in debt restructure
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +5 min

The domestic debt restructure is needed to help the country reach the IMF programme goal of reducing overall debt to 95% of GDP by 2032. WHAT WILL THE DOMESTIC DEBT RESTRUCTURING INCLUDE? "We are asking foreign debt holders for a 30% haircut but that is still under discussion," Weerasinghe said. This will be implemented in Phase 2 of the domestic debt restructuring. Aiming to contain any potential market volatility, Sri Lanka declared a five-day holiday from June 29 to July 3.

Persons: Read, Nandalal Weerasinghe, Weerasinghe, Mahinda Siriwardana, CBSL, Uditha Jayasinghe, Shilpa Jamkhandikar, Kim Coghill, Emelia Organizations: International Monetary Fund, IMF, Sri Lanka Development, Bank of Sri, Treasury, Sri, Thomson Locations: Colombo, Sri Lanka, Britain, Bank of Sri Lanka, China, Japan, India

☆ Foreigners turned sellers of Japan shares after 12 straight weeks of purchases
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: +1 min

Foreign investors turned net sellers of Japanese equities after 12 straight weeks of purchases that helped propel shares to three-decade highs, official data showed on Thursday June 29, 2023. Foreign investors turned net sellers of Japanese equities after 12 straight weeks of purchases that helped propel shares to three-decade highs, official data showed on Thursday. Foreigners sold net shares worth 543.8 billion yen ($3.77 billion) in the week through June 24, according to capital flows data from the Finance Ministry. Overseas investors had been net buyers of Japanese stocks every week since the end of March, snapping up a cumulative 9.9 trillion yen in equities. Japan's benchmark Nikkei share gauge has soared 21% over the past three months, outpacing global indexes, driven by a boom in chip-related companies and inflows into trading houses after billionaire investor Warren Buffett said he was adding to investments in the sector.

Persons: Warren Buffett Organizations: Foreigners, Finance Ministry, Overseas, Nikkei

☆ Clearstream suspends processing of new Russian share conversions after EU sanctions
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

June 29 (Reuters) - European clearing giant Clearstream has suspended processing new client instructions to convert or cancel their American and Global Depository Receipt holdings in Russian companies after the latest round of European Union sanctions against Moscow. Investors globally are facing challenges in recovering stranded Russian investments in a saga that is spilling over to implicate Western depositories. Deutsche Bank (DBKGn.DE) has told clients it can no longer guarantee full access to Russian stocks that belong to them. Clearstream previously halted DR conversions in June 2022, only to resume processing in October. "The new rules quite strictly limit the conditions for the conversion of Russian securities for residents and citizens of the European Union," Grzegorz Drozdz, market analyst at investment company Conotoxia said.

Persons: Western, Clearstream, Grzegorz Drozdz, Conotoxia, Alexander Marrow, Sinead Cruise, Emelia Sithole Organizations: Global, Union, Moscow, Deutsche Bank, Deutsche, EU, Clearstream Banking, European Union, Thomson Locations: Russia, Europe

☆ India's gearing up to be the new China, but even Elon Musk is finding it hard to crack into the market. Here are 5 reasons why.
▼ + stars: | 2023-06-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

India has overtaken China as the world's most populous country, and it's pushing for foreign investments. But foreign investors keen to enter the Indian market face various barriers to entry. Earlier this year, India overtook China as the world's most populous country. Among investors keen on investing in India are Tesla and SpaceX CEO Elon Musk, and tech giant Apple. But given the huge Indian market, Tesla isn't giving up.

Persons: —, Narendra Modi's, Elon Musk, Mark Mobius, Modi —, Modi, Musk, Ashutosh Sharma, Forrester, That's, Sharma, India's, Mukesh Ambani Organizations: Service, India, Indian, Tesla, SpaceX, US International Trade Administration, ITA, Bank, World Bank, US, Reliance Industries SpaceX, Reliance, Reuters, Ambani's Locations: India, China

☆ China's growth to be higher in Q2, projected to hit annual 5% target - Premier Li
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

TIANJIN, China, June 27 (Reuters) - China's economic growth in the second quarter will be higher than the first and was projected to reach the annual economic growth target of around 5%, China's Premier Li Qiang told delegates at the World Economic Forum in Tianjin on Tuesday. However, analysts are now downgrading their economic growth forecasts for China for the rest of the year. The pandemic is unlikely to be the last public health crisis the world faces, Li said, adding that it will be over and visible and invisible barriers will disappear. The trend of globalisation remains intact despite some setbacks, said the Chinese premier, reiterating a key theme of his since taking up his post that China remains open for business and welcomes foreign investors. Reporting by Kevin Yao; Writing by Joe Cash; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, Li, Kevin Yao, Joe Cash, Michael Perry Organizations: China's, Economic, Thomson Locations: TIANJIN, China, Tianjin, Beijing

☆ China-bashing throws Vodafone a curveball
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 27 (Reuters Breakingviews) - Vodafone's (VOD.L) M&A ambitions in Britain are falling prey to anti-China rhetoric. Parliamentarians are also fretting over the security impact on contracts with government departments once the deal goes through. Vodafone may face similar scrutiny, leading to inevitable delays. The fact that CK Hutchison has retained the right to appoint the chief financial officer may be a red flag. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: CK Hutchison's, Li Ka, Franco, Patrick Drahi, Hakan Koc, Pyrros Koussios, Roman Abramovich, CK Hutchison, Pamela Barbaglia, Aston Martin, Lisa Jucca, Streisand Neto Organizations: Reuters, HK, Vodafone, BT, UK's National Security and Investment Act, Twitter, Siemens, Thomson Locations: Britain, China, Hong Kong, Canada

☆ Japan stocks are roaring back. This rally may be different from the 1990's 'bubble high'
▼ + stars: | 2023-06-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

The bubble burst after the Bank of Japan tightened monetary policy at the start of 1990, triggering the collapse of equity and land prices. But analysts who spoke to CNBC said Japan is not headed for another crash like the one during the bubble. Furthermore, "current high inflation rates in Japan are due to higher import costs on the back of a weaker yen and high commodity prices. What led to Japan's bubble? Nikkei reported in March that share buybacks by Japanese companies was set to reach their highest level in 16 years.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Nogi, Dong Chen, Ryota Abe, Abe, Japan's, Shinzo Abe, Chen, SMBC, Warren Buffet's Organizations: Nikkei, Getty, Afp, Bank of Japan, CNBC, Sumitomo Mitsui Banking Corporation, Tokyo Exchange, Billionaire, Global Locations: Tokyo, AFP, Japan, China

☆ Israel's tech sector troubles persist in 2023, state agency says
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

A global tech downturn began in the second half of 2022 when inflation and interest rates began to rise and supply chains faltered. But as the negative trends appear to be reversing elsewhere, the problems in Israel have continued in 2023, the Innovation Authority said in its latest report. The Innovation Authority said that "senior figures" in Israel's tech industry had warned of a backlash and of "foreign investors' concerns about continued investment in Israel." So far in 2023, the Nasdaq has risen 29%, while Israel's main technology index (.TATECH) is up 7.8%. "Insofar as this trend persists, it may have an adverse effect on the economy in the long term," Yaron said.

Persons: Benjamin Netanyahu's, Amir Yaron, Yaron, Ari Rabinovitch, Steven Scheer, Mark Potter Organizations: Israel Innovation Authority, Innovation Authority, Nasdaq, Bank of Israel, Thomson Locations: Israel, Tel Aviv

☆ Time for world to dust off its post-Putin plans
▼ + stars: | 2023-06-26 | by ( Pierre Briancon | ) www.reuters.com time to read: +3 min

LONDON, June 26 (Reuters Breakingviews) - Whatever happens after Vladimir Putin’s humiliation at the hand of his former protégé Yevgeny Prigozhin, the rest of the world sees the Russian president as wounded. The United States, Europe and China will need to dust off their post-Putin plans. The worst outcome would be a period of long uncertainty with different clans vying for power in Moscow. Confusion about who runs the show in the Kremlin would also send shivers among world governments worried about the fate of Russia’s nuclear weapons. And the balance of power in Russia, where vaguely liberal reformers have remained in charge of the economy, could be destabilised.

Persons: Vladimir Putin’s, Yevgeny Prigozhin, Putin, Prigozhin’s Wagner, Wagner, shivers, Xi Jinping, Alexander Lukashenko, Prighozhin, Sergei Shoigu, Staff Valery Gerasimov, Peter Thal Larsen, Katrina Hamlin Organizations: Reuters, The, Moscow, Kremlin, Russian Defense, Staff, Thomson Locations: Moscow, The United States, Europe, China, Ukraine, Belarus, Russia, Crimea, States, India, Prigozhin’s, Russian, Rostov

☆ Analysis: Investors lament lost opportunity after unconvincing Turkish rate hike
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Murad Sezer/IllustrationLONDON, June 23 (Reuters) - Foreign investors hoping for a game-changing rate hike from Turkey's newly appointed central bank chief said Thursday's disappointing move to a key rate of just 15% could keep some money on the sidelines. "They lost one perfect chance to demonstrate that they mean business," said Viktor Szabo, emerging markets investment director with Abrdn. But analysts said that after Thursday's decision, Erkan and Simsek would need to work even harder to prove the country had indeed shifted course. Already in the week to June 16, foreign investor holdings of Turkish government bonds had fallen by $16.2 million. "I don't think investors will throw in the towel just yet because I think there is still expectation there is more to come in the coming months," said Kaan Nazli, portfolio manager at Neuberger Berman.

Persons: Murad Sezer, Thursday's, Hafize Gaye Erkan, Viktor Szabo, Abrdn, it's, It's, Tayyip Erdogan, Mehmet Simsek, Eric Fine, Marek Drimal, Simsek, Dan Wood, William Blair, Fitch, Erdogan, Erkan, Kaan, Neuberger Berman, Karin Strohecker, Marc Jones, Toby Chopra Organizations: REUTERS, Societe Generale, Thomson Locations: Istanbul, Turkey, VanEck

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