By Andy Mukherjee
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
(Any opinions expressed here are those of the author and not of Thomson Reuters)
The fortunes of hedge funds focused on India continue to twist and turn, with many plots and subplots. After witnessing widespread losses and heavy redemptions in 2008, Indian hedge fund managers bounced back remarkably to post a 50 percent return in 2009. They continued their good form in 2010, delivering healthy gains of 12 percent during the year.
Rakesh Kumar is not like most of the street vendors in Old Delhi. The hand-painted sign on his wooden counter, “exchange damaged, old notes,” reveals a different story. He sells money.
Nelson Mandela, who emerged from 27 years in apartheid prisons to help guide South Africa to democracy, died on Thursday.
By Aditya Kalra and Shashank Chouhan
The Bharatiya Janata Party (BJP) is likely to win in four of the five states that went to polls over the past month, exit poll surveys conducted by Cvoter and the India Today-ORG group showed. Such a victory will be a boost for the party and its prime ministerial candidate Narendra Modi ahead of the 2014 general elections.
Srinivas Porika tried for months to get a loan of 250,000 rupees ($4,000) to pay for his sister’s wedding, but every bank he tried turned him down. The problem: Porika’s employer, a tech start-up company, was not on the banks’ lists of pre-approved companies.
India’s diversified equity funds bucked the trend in the broader markets to eke out gains in November, as a strong performance by mid- and small-cap shares and sectors such as capital goods supported unit values.
Anyone who keeps a radio turned on in India's National Capital Region knows that election fever has settled on Delhi ahead of the Dec. 4 state polls. The ruling Congress party, main opposition Bharatiya Janata Party (BJP) and newcomer Aam Aadmi Party (AAP) are betting big on radio campaigning -- a medium that reaches millions of people across economic classes and backgrounds.
By Shadi Bushra
Yet another sign of the growth convergence between developed and emerging markets. Two of the "BRIC' countries have dropped out of the Top-30 in a growth index compiled by political risk consultancy Maplecroft, while several Western powerhouses have nudged their way onto the list.