India may get thrown out of MSCI Indices

MSCI Inc. (NYSE: MSCI), a leading provider of research-based indexes and analytics, announced today that it is closely monitoring developments related to the concerted announcement by three Indian stock exchanges, including the two principal exchanges, of the imposition of anti-competitive measures restricting the accessibility of the Indian equity market. MSCI is evaluating the measures’ potential…

Modi’s Cash Ban Helped This Money Manager Beat 99% of Peers

For India bull Robert Marshall-Lee, stock valuations near the highest level in almost a decade are no deterrence. The London-based money manager, who oversees 2.6 billion pounds ($3.4 billion) for Newton Investment Management, has stepped up allocations for Mumbai-listed equities to 31 percent, compared with their 9 percent weight in the MSCI Emerging Markets Index….

Rupee’s plunge drives up offshore debt costs

The rupee’s slide to record lows is squeezing mid-sized companies that borrowed offshore when times were good, with a slowing economy now making it even harder for them to generate the extra funds needed to cover dollar payments. Many firms in capital-intensive industries such as infrastructure, manufacturing and metals that borrowed in offshore markets lack…

Time to treat savers fairly

India is too reliant on foreign hot money. The reason: it doesn’t give savers enough reason to put their money in the bank. That is now becoming a pressing concern. The outmoded state-built apparatus of financial repression needs to be junked. Domestic savers aren’t getting their dues. While consumer prices shot up 9.9 percent in…

How Aggressively Investors Dumped Emerging Market Bonds This Week

It’s almost unbelievable how rapidly investors are yanking their money out of the Emerging Markets. The sucking sounds particularly loud in the EM debt markets. “Emerging Markets debt-dedicated funds recorded net outflows of $5,578MM (2.19% AUM) for the week ending on June 26, 2013, reports EPFR,” said Morgan Stanley’s Robert Habib. “This is the largest…