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Ghana is set to hold presidential and parliamentary elections amid hopes for economic recovery following a severe financial crisis. Vice President Mahamudu Bawumia of the ruling New Patriotic Party faces off against former President John Dramani Mahama, with polls indicating a potential comeback for Mahama. Approximately 18.7 million voters are registered, and results are expected soon after the polls close.
Donald Trump has proposed blanket tariffs on goods from Canada, Mexico, and China, aiming to address issues like drug trafficking and immigration while protecting American interests. Foreign nations may view these tariffs as a negotiating tactic, raising questions about their potential responses and the implications for American consumers.
Domestic Institutional Investors (DIIs) net bought shares worth Rs 1,830 crore, while Foreign Institutional Investors (FIIs) net sold shares worth Rs 1,659 crore. Year-to-date, FIIs have net sold Rs 2.87 lakh crore, whereas DIIs have net bought Rs 5.76 lakh crore in shares.
The EU is moving forward with a significant trade deal with the Mercosur bloc, despite strong opposition from France. Ursula von der Leyen's support for the agreement has sparked tensions, particularly as the deal approaches its final stages amid concerns over potential trade wars with China.
The Reserve Bank of India (RBI) has raised the interest rate ceiling for foreign currency non-resident (FCNR-B) deposits to attract more forex inflows as the rupee faces pressure. NRIs can now open term deposit accounts in foreign currencies without exchange rate risk. The new rates apply to deposits with maturities between 1 and less than 3 years, capped at the relevant reference rate plus 400 basis points.
A cut in the cash reserve ratio (CRR) by the Reserve Bank of India is anticipated to inject Rs 1.16 lakh crore into the banking system, enhancing liquidity amid expected outflows due to GST and advance payments. This move aims to mitigate the impact of foreign investor withdrawals on the Indian rupee, reducing volatility and supporting overall banking liquidity. The reduction will occur in two phases, starting December 14 and December 28, 2024.
The global Healthcare BPO market is experiencing significant growth as healthcare providers and payers increasingly outsource non-core functions like billing and claims processing to enhance efficiency and reduce costs. The integration of advanced technologies such as AI and robotic process automation is further driving this trend, alongside the rising demand for patient-centric services and compliance with complex regulations. Key players in the market include Accretive Health, Genpact Ltd, and Infosys BPO Ltd, among others, as they navigate a landscape shaped by evolving market dynamics and technological advancements.
The EU and Mercosur are set to finalize a contentious free trade agreement after over 20 years of negotiations, with a political announcement expected in Montevideo. However, the deal faces significant hurdles in Europe, particularly from France and other member states concerned about agricultural imports and environmental standards. Supporters argue it is crucial for diversifying trade and accessing South American markets.
India's central bank chief, Shaktikanta Das, clarified that no decision has been made by BRICS regarding the creation of a common currency aimed at reducing dollar dependence. He noted that while the idea was discussed, the geographical diversity of member countries poses challenges, unlike the euro zone's contiguity.
RBI Governor Shaktikanta Das clarified that India is not pursuing de-dollarisation but is focused on reducing risks in domestic trade amid geopolitical tensions. In response to President-elect Trump's tariff threats on BRICS nations, Das emphasized that India has only taken steps to facilitate local-currency trade with a few countries to mitigate reliance on a single currency.
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