Moving beyond ride-hailing, Southeast Asia’s Grab is rolling out financial services

Grab Financial, a unit of Southeast Asian ride-hailing giant Grab, said Tuesday it is rolling out several financial services across the region. Those include launching an online checkout system that would let sellers accept Grab’s digital payment service, GrabPay. Another option, to buy goods and pay for them in installments through Grab Financial, is also in the works. Last year, Grab teamed up with Credit Saison, a Japanese financial services company, to lend in the region. The joint venture a


Grab Financial, a unit of Southeast Asian ride-hailing giant Grab, said Tuesday it is rolling out several financial services across the region. Those include launching an online checkout system that would let sellers accept Grab’s digital payment service, GrabPay. Another option, to buy goods and pay for them in installments through Grab Financial, is also in the works. Last year, Grab teamed up with Credit Saison, a Japanese financial services company, to lend in the region. The joint venture a
Moving beyond ride-hailing, Southeast Asia’s Grab is rolling out financial services Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, afif c kusuma, istock editorial, getty images
Keywords: news, cnbc, companies, financial, southeast, rolling, credit, services, moving, singapore, grab, venture, service, payment, asias, ridehailing, company


Moving beyond ride-hailing, Southeast Asia's Grab is rolling out financial services

Grab Financial, a unit of Southeast Asian ride-hailing giant Grab, said Tuesday it is rolling out several financial services across the region.

Those include launching an online checkout system that would let sellers accept Grab’s digital payment service, GrabPay. The company also plans to provide a post-paid payment credit option, where users accumulate spending on the company’s products like ride-hailing and food delivery and pay the total amount at the end of each month without additional costs.

That credit service will first be available in Singapore before expanding to other countries. Another option, to buy goods and pay for them in installments through Grab Financial, is also in the works.

The company added it will launch an online insurance marketplace in April for entrepreneurs following a joint venture with China’s Zhong An earlier this year.

Last year, Grab teamed up with Credit Saison, a Japanese financial services company, to lend in the region. The joint venture also provides working capital loans to small businesses in Singapore while Grab pursues lending licenses in other markets.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, afif c kusuma, istock editorial, getty images
Keywords: news, cnbc, companies, financial, southeast, rolling, credit, services, moving, singapore, grab, venture, service, payment, asias, ridehailing, company


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Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e


Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e
Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


Golden Gate Ventures and South Korea's Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia.

The firms are looking to raise around $200 million in funds and already have about $80 million worth of commitments from investors, according to a source familiar with the matter.

Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far.

In a press release, however, the companies said investments will focus on start-ups that are raising funds in the so-called Series B round — at that stage, start-ups have moved past the early development phase, achieved a few important initial milestones, and are looking for financing to grow their businesses to meet user demands.

Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an early-stage venture capital fund in the region.

“Just like there was a Seed-stage gap in 2013 that closed by 2015, then a Series A gap in 2015 that closed by 2017, now there’s a Series B gap that started in 2018,” Vinnie Lauria, a founding partner at Golden Gate Ventures, told CNBC by email.

Seed and Series A refer to early-stage fundraising efforts from new start-ups.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


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Moving beyond ride-hailing, Southeast Asia’s Grab is rolling out financial services

Grab Financial, a unit of Southeast Asian ride-hailing giant Grab, said Tuesday it is rolling out several financial services across the region. Those include launching an online checkout system that would let sellers accept Grab’s digital payment service, GrabPay. Another option, to buy goods and pay for them in installments through Grab Financial, is also in the works. Last year, Grab teamed up with Credit Saison, a Japanese financial services company, to lend in the region. The joint venture a


Grab Financial, a unit of Southeast Asian ride-hailing giant Grab, said Tuesday it is rolling out several financial services across the region. Those include launching an online checkout system that would let sellers accept Grab’s digital payment service, GrabPay. Another option, to buy goods and pay for them in installments through Grab Financial, is also in the works. Last year, Grab teamed up with Credit Saison, a Japanese financial services company, to lend in the region. The joint venture a
Moving beyond ride-hailing, Southeast Asia’s Grab is rolling out financial services Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, afif c kusuma, istock editorial, getty images
Keywords: news, cnbc, companies, financial, southeast, rolling, credit, services, moving, singapore, grab, venture, service, payment, asias, ridehailing, company


Moving beyond ride-hailing, Southeast Asia's Grab is rolling out financial services

Grab Financial, a unit of Southeast Asian ride-hailing giant Grab, said Tuesday it is rolling out several financial services across the region.

Those include launching an online checkout system that would let sellers accept Grab’s digital payment service, GrabPay. The company also plans to provide a post-paid payment credit option, where users accumulate spending on the company’s products like ride-hailing and food delivery and pay the total amount at the end of each month without additional costs.

That credit service will first be available in Singapore before expanding to other countries. Another option, to buy goods and pay for them in installments through Grab Financial, is also in the works.

The company added it will launch an online insurance marketplace in April for entrepreneurs following a joint venture with China’s Zhong An earlier this year.

Last year, Grab teamed up with Credit Saison, a Japanese financial services company, to lend in the region. The joint venture also provides working capital loans to small businesses in Singapore while Grab pursues lending licenses in other markets.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, afif c kusuma, istock editorial, getty images
Keywords: news, cnbc, companies, financial, southeast, rolling, credit, services, moving, singapore, grab, venture, service, payment, asias, ridehailing, company


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Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e


Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia. Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far. Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an e
Golden Gate Ventures and South Korea’s Hanwha planning a Southeast Asia investment fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


Golden Gate Ventures and South Korea's Hanwha planning a Southeast Asia investment fund

Singapore-based Golden Gate Ventures said Tuesday it is teaming up with South Korean asset manager Hanwha Asset Management to invest in technology start-ups in Southeast Asia.

The firms are looking to raise around $200 million in funds and already have about $80 million worth of commitments from investors, according to a source familiar with the matter.

Both Golden Gate Ventures and Hanwha Asset Management declined to comment on the goal for the fund’s size or on how much had been committed so far.

In a press release, however, the companies said investments will focus on start-ups that are raising funds in the so-called Series B round — at that stage, start-ups have moved past the early development phase, achieved a few important initial milestones, and are looking for financing to grow their businesses to meet user demands.

Start-ups in Southeast Asia receive fewer investments during Series B funding than their counterparts in the U.K. and the United States, according to Golden Gate Ventures, an early-stage venture capital fund in the region.

“Just like there was a Seed-stage gap in 2013 that closed by 2015, then a Series A gap in 2015 that closed by 2017, now there’s a Series B gap that started in 2018,” Vinnie Lauria, a founding partner at Golden Gate Ventures, told CNBC by email.

Seed and Series A refer to early-stage fundraising efforts from new start-ups.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: saheli roy choudhury, bryan van der beek, bloomberg, getty images
Keywords: news, cnbc, companies, gap, investment, southeast, planning, koreas, ventures, golden, gate, asset, south, startups, fund, funds, series, hanwha


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Today’s technology lets terrorists ‘become their own mass media,’ analyst says

A lot of people scoff at saying ‘see something, say something’ but it really works,” he said, adding that there should be tools made available for people to report instances of radicalism on social media, chat rooms or even in real life. Last Friday, a gunman opened fire at two mosques in Christchurch, and killed 50 people in what is said to be the country’s worst ever peacetime mass killing. The attacker left behind a lengthy document that stated he was a white nationalist who hates immigrants


A lot of people scoff at saying ‘see something, say something’ but it really works,” he said, adding that there should be tools made available for people to report instances of radicalism on social media, chat rooms or even in real life. Last Friday, a gunman opened fire at two mosques in Christchurch, and killed 50 people in what is said to be the country’s worst ever peacetime mass killing. The attacker left behind a lengthy document that stated he was a white nationalist who hates immigrants
Today’s technology lets terrorists ‘become their own mass media,’ analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: saheli roy choudhury, -scott stewart
Keywords: news, cnbc, companies, todays, media, social, press, mass, reportedly, technology, report, things, lets, videos, attacks, analyst, video, terrorists, reported


Today's technology lets terrorists 'become their own mass media,' analyst says

In the past, terrorists relied on mass media to propagate their messages but the internet has made it easier for them to spread their agenda, said Stewart, previously a special agent for the U.S. State Department who was involved in numerous terrorism investigations.

“One of the things that does need to be done is for people to shout out when they see things developing, and when they see these attacks coming down the pipe. A lot of people scoff at saying ‘see something, say something’ but it really works,” he said, adding that there should be tools made available for people to report instances of radicalism on social media, chat rooms or even in real life.

“I think everybody shares a little bit of the responsibility.”

Last Friday, a gunman opened fire at two mosques in Christchurch, and killed 50 people in what is said to be the country’s worst ever peacetime mass killing. Dozens more were wounded, some of them critically. Prime Minister Jacinda Ardern called the attack an act of terrorism.

The attacker left behind a lengthy document that stated he was a white nationalist who hates immigrants and was set off by attacks in Europe that were perpetrated by Muslims, the Associated Press reported. He was charged with murder on Saturday.

The shooter livestreamed the attacks on Facebook for 17 minutes using an app designed for extreme sports enthusiasts and copies of that video have reportedly been circulated around various social media platforms such as Twitter, Alphabet’s YouTube and Facebook-owned Whatsapp and Instagram.

That led to many calling on social media giants to do more to crack down on online extremism.

Facebook reported in the first 24 hours since the shootings, that it had removed 1.5 million videos of the attack globally — 1.2 million of those were blocked during uploads. In a series of tweets, the social network said it is also removing all edited versions of the video that do not show graphic content.

The social network giant is reportedly building its own artificial intelligence chips that can help the company filter videos that violate its terms of services quicker.

For her part, Ardern said she plans to hold discussions with Facebook over the issue of livestreaming.

— The Associated Press and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: saheli roy choudhury, -scott stewart
Keywords: news, cnbc, companies, todays, media, social, press, mass, reportedly, technology, report, things, lets, videos, attacks, analyst, video, terrorists, reported


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Today’s technology lets terrorists ‘become their own mass media,’ analyst says

A lot of people scoff at saying ‘see something, say something’ but it really works,” he said, adding that there should be tools made available for people to report instances of radicalism on social media, chat rooms or even in real life. Last Friday, a gunman opened fire at two mosques in Christchurch, and killed 50 people in what is said to be the country’s worst ever peacetime mass killing. The attacker left behind a lengthy document that stated he was a white nationalist who hates immigrants


A lot of people scoff at saying ‘see something, say something’ but it really works,” he said, adding that there should be tools made available for people to report instances of radicalism on social media, chat rooms or even in real life. Last Friday, a gunman opened fire at two mosques in Christchurch, and killed 50 people in what is said to be the country’s worst ever peacetime mass killing. The attacker left behind a lengthy document that stated he was a white nationalist who hates immigrants
Today’s technology lets terrorists ‘become their own mass media,’ analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: saheli roy choudhury, -scott stewart
Keywords: news, cnbc, companies, todays, media, social, press, mass, reportedly, technology, report, things, lets, videos, attacks, analyst, video, terrorists, reported


Today's technology lets terrorists 'become their own mass media,' analyst says

In the past, terrorists relied on mass media to propagate their messages but the internet has made it easier for them to spread their agenda, said Stewart, previously a special agent for the U.S. State Department who was involved in numerous terrorism investigations.

“One of the things that does need to be done is for people to shout out when they see things developing, and when they see these attacks coming down the pipe. A lot of people scoff at saying ‘see something, say something’ but it really works,” he said, adding that there should be tools made available for people to report instances of radicalism on social media, chat rooms or even in real life.

“I think everybody shares a little bit of the responsibility.”

Last Friday, a gunman opened fire at two mosques in Christchurch, and killed 50 people in what is said to be the country’s worst ever peacetime mass killing. Dozens more were wounded, some of them critically. Prime Minister Jacinda Ardern called the attack an act of terrorism.

The attacker left behind a lengthy document that stated he was a white nationalist who hates immigrants and was set off by attacks in Europe that were perpetrated by Muslims, the Associated Press reported. He was charged with murder on Saturday.

The shooter livestreamed the attacks on Facebook for 17 minutes using an app designed for extreme sports enthusiasts and copies of that video have reportedly been circulated around various social media platforms such as Twitter, Alphabet’s YouTube and Facebook-owned Whatsapp and Instagram.

That led to many calling on social media giants to do more to crack down on online extremism.

Facebook reported in the first 24 hours since the shootings, that it had removed 1.5 million videos of the attack globally — 1.2 million of those were blocked during uploads. In a series of tweets, the social network said it is also removing all edited versions of the video that do not show graphic content.

The social network giant is reportedly building its own artificial intelligence chips that can help the company filter videos that violate its terms of services quicker.

For her part, Ardern said she plans to hold discussions with Facebook over the issue of livestreaming.

— The Associated Press and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: saheli roy choudhury, -scott stewart
Keywords: news, cnbc, companies, todays, media, social, press, mass, reportedly, technology, report, things, lets, videos, attacks, analyst, video, terrorists, reported


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Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded


Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded
Asia markets: Brexit deal, pound and China economic data in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place.

The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29.

In South Korea, the Kospi wavered between gains and losses to close up 0.34 percent at 2,155.68. Hong Kong’s Hang Seng Index was down 0.22 percent in afternoon trade.

Chinese mainland shares withdrew as the Shanghai composite fell 1.2 percent to 2,990.68 while the Shenzhen composite tumbled 2.311 percent.

Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. That further pointed to an economic slowdown in the world’s second-largest economy. But investments picked up pace as the government fast-tracked more road and rail projects, the news agency added.

Beijing has already pledged hundreds of billions of dollars in tax cuts and infrastructure spending to support the flagging economy.

The on-shore yuan traded at 6.7134 to the dollar at 2:44 p.m. HK/SIN after the People’s Bank of China set the day’s yuan midpoint at 6.7009. China’s central bank allows the currency exchange rate to rise or fall 2 percent from the midpoint rate.

Australia’s benchmark ASX 200 closed up 0.3 percent at 6,179.60.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


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Asia trades mixed amid growing concerns over global growth

Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week. Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81. The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. Indian stocks rose after the country on Sun


Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week. Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81. The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. Indian stocks rose after the country on Sun
Asia trades mixed amid growing concerns over global growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: saheli roy choudhury, seung-il ryu, nurphoto, getty images
Keywords: news, cnbc, companies, stocks, gains, amid, trades, mixed, concerns, traded, rose, oil, tokyo, shares, trade, reportedly, bank, growing, global, asia, growth


Asia trades mixed amid growing concerns over global growth

Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week.

Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81.

The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. The People’s Bank of China is expected to ease monetary policy further to encourage lending as it seeks to support the country’s slowing economy. Its head, Governor Yi Gang, reportedly said on Sunday the central bank will not use the exchange rate to boost its exports or as a tool in trade frictions.

Japan’s Nikkei 225 see-sawed between gains and losses to finish up 0.47 percent at 21,125.09 while the Topix index added 0.57 percent to 1,581.44.

Nissan shares advanced 1.11 percent as the company’s former boss, Carlos Ghosn, is reportedly seeking permission from the Tokyo District Court to attend the automaker’s board meeting on Tuesday, Reuters said, citing a source.

Ghosn, the former Nissan chairman, was released from a detention center in Tokyo last week on $9 million in bail after being detained for more than 100 days on financial misconduct charges. He has called those charges “meritless.”

In South Korea, the Kospi was near flat at 2,138.10 while major indexes in Singapore and Malaysia struggled for gains in afternoon trade. Hong Kong’s Hang Seng index traded up 0.93 percent. Indian stocks rose after the country on Sunday announced it will hold parliamentary election in seven stages starting April 11. The Nifty 50 was up 1.09 percent while the Indian rupee traded around 69.91 to the dollar at 3:21 p.m. HK/SIN, strengthening from levels above 70.40 last week.

The ASX 200 in Australia fell 0.38 percent to 6,180.20 as most sectors declined. The energy sector was down 1.55 percent as oil stocks retreated: Shares of Santos were down 2.16 percent, Oil Search lower by 1.99 percent and Woodside Petroleum declined 1.73 percent.

Oil prices were under pressure on Friday following data that showed U.S. job gains came to a grinding halt in February while Chinese imports and exports last month slumped. The European Central Bank also slashed its growth outlook for the euro zone.

U.S. crude rose 0.66 percent to $56.44 a barrel on Monday afternoon during Asian hours while international benchmark Brent was up 0.58 percent at $66.12.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: saheli roy choudhury, seung-il ryu, nurphoto, getty images
Keywords: news, cnbc, companies, stocks, gains, amid, trades, mixed, concerns, traded, rose, oil, tokyo, shares, trade, reportedly, bank, growing, global, asia, growth


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Two factors India investors should watch out for

Driving that growth are two important factors: oil prices and the monsoon season in India, Jayant Sinha told CNBC’s “Street Signs.” “If oil prices come down further and we have a strong and good monsoon, we can easily accelerate (growth) over 8 or 9 percent,” Sinha said. “A lot of our own policies, and a lot of what the central bank does, is actually set off these two exogenous parameters,” he added. India is a net importer of oil and benefits whenever crude prices decline. It also has a sizable


Driving that growth are two important factors: oil prices and the monsoon season in India, Jayant Sinha told CNBC’s “Street Signs.” “If oil prices come down further and we have a strong and good monsoon, we can easily accelerate (growth) over 8 or 9 percent,” Sinha said. “A lot of our own policies, and a lot of what the central bank does, is actually set off these two exogenous parameters,” he added. India is a net importer of oil and benefits whenever crude prices decline. It also has a sizable
Two factors India investors should watch out for Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: saheli roy choudhury, sonu mehta, hindustan times, getty images
Keywords: news, cnbc, companies, prices, told, growth, sinha, lot, policies, monsoon, supported, factors, india, oil, investors, watch


Two factors India investors should watch out for

India’s economy is “well-positioned” for further growth as it is supported by manageable levels of inflation and government debt, the country’s minister of state for civil aviation told CNBC Friday.

Driving that growth are two important factors: oil prices and the monsoon season in India, Jayant Sinha told CNBC’s “Street Signs.”

“If oil prices come down further and we have a strong and good monsoon, we can easily accelerate (growth) over 8 or 9 percent,” Sinha said. “A lot of our own policies, and a lot of what the central bank does, is actually set off these two exogenous parameters,” he added.

India is a net importer of oil and benefits whenever crude prices decline. It also has a sizable agrarian economy which is often supported by the government during instances of poor monsoon seasons.

Farmers in India have been struggling for years due to low crop prices, rising costs, widespread droughts and as a result of two landmark policies of the current government — demonetization and the goods and services tax.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: saheli roy choudhury, sonu mehta, hindustan times, getty images
Keywords: news, cnbc, companies, prices, told, growth, sinha, lot, policies, monsoon, supported, factors, india, oil, investors, watch


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The worst is ‘conclusively’ over for India’s troubled public-sector lenders, minister says

The ‘worst is behind’ India’s state banks, minister says 3:11 AM ET Fri, 8 March 2019 | 02:39The worst is over for India’s public sector banks, which have struggled in recent years with large levels of bad debt that have hamstrung their growth, according Jayant Sinha, the country’s minister of state for civil aviation. India has massively reformed its public sector banks over the last five years, he told CNBC’s “Street Signs” on Friday. “We were very, very seized with that matter and we started


The ‘worst is behind’ India’s state banks, minister says 3:11 AM ET Fri, 8 March 2019 | 02:39The worst is over for India’s public sector banks, which have struggled in recent years with large levels of bad debt that have hamstrung their growth, according Jayant Sinha, the country’s minister of state for civil aviation. India has massively reformed its public sector banks over the last five years, he told CNBC’s “Street Signs” on Friday. “We were very, very seized with that matter and we started
The worst is ‘conclusively’ over for India’s troubled public-sector lenders, minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: saheli roy choudhury, saikat paul, pacific press, lightrocket, getty images
Keywords: news, cnbc, companies, minister, conclusively, banks, public, debt, sector, lenders, worst, troubled, sinha, state, levels, publicsector, indias


The worst is 'conclusively' over for India's troubled public-sector lenders, minister says

The ‘worst is behind’ India’s state banks, minister says 3:11 AM ET Fri, 8 March 2019 | 02:39

The worst is over for India’s public sector banks, which have struggled in recent years with large levels of bad debt that have hamstrung their growth, according Jayant Sinha, the country’s minister of state for civil aviation.

India has massively reformed its public sector banks over the last five years, he told CNBC’s “Street Signs” on Friday.

“We were very, very seized with that matter and we started to put in place a very important reform package, which, in fact, has moved forward quite aggressively over the last few years,” Sinha said.

Public-sector financial institutions control about 70 percent of all banking assets in India and they have had the highest exposure to soured loans.

Banks are a key source of funding for Indian companies and as their levels of bad debt grew, their lending capabilities were reduced.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: saheli roy choudhury, saikat paul, pacific press, lightrocket, getty images
Keywords: news, cnbc, companies, minister, conclusively, banks, public, debt, sector, lenders, worst, troubled, sinha, state, levels, publicsector, indias


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