Paytm Shares Climb After Payments Giant Reports Narrower Loss

The stock rose 7.4 percent in early trading Monday after Friday’s earnings report, its biggest one-day gain in nearly two months, paytm’s net loss for the quarter that ended December narrowed to Rs 3.9 billion ($48 million) from Rs 7.8 billion a year earlier. Operating income rose 42 percent to Rs 20.6 billion, while overheads grew at a more moderate pace, Shares of the company fell on mounting losses and fears of increased competition from Google Pay, Amazon Pay and Amazon.com Inc. and Alphabet Inc.’s Walmart PhonePe, and some smaller fintech startups.

Paytm founder Vijay Shekhar Sharma

In an interview in July, Paytm founder Vijay Shekhar Sharma promised that the company would shift its focus from growth to profitability.

 After a year-long cooling-off period for some shareholders that ended on November 15, shares have fluctuated in recent months, allowing them to reduce their holdings. Alibaba Group’s Softbank Holdings sold a 3% stake in the company in January after reducing its holdings in November. The Paytm acquisition, announced in December, did not convince rice investors.

Paytm announced Friday that Ant CEO Douglas Feigin has resigned from the board, citing Paytm’s growth and maturity. He left after the fintech company went public with SoftBank executives.

Paytm says its lending business continues to grow, with loans issued more than doubling to 10.5 million last year.

Indonesia’s economic growth slowed down in Q4 2022

Indonesia's economic growth slowed down in Q4 2022

(Bloomberg) — Economic output in Indonesia slowed for the first time in five quarters as weaker exports and above-target inflation likely dampened demand.

Gross domestic product (GDP) rose 5.01% year-on-year in the three months to December. This compares with last quarter’s adjusted growth of 5.73% and the average Bloomberg survey estimate of 4.92%.

The fourth outcome was an increase in the annual limit of 5.31%, in line with the planned extension of 5.3%.

The slowdown means Indonesia’s central bank, which has hiked borrowing costs by 225 basis points since August, may make one last rate hike at its month-end meeting. Governor Perry Vargio said last month that the risks of a global economic slowdown outweigh inflation concerns as the central bank lowered its exchange rate by a quarter point.

Headline inflation, which has been above the central bank’s target of 2-4% for most of 2022 and is likely to be consumption-driven, is already showing signs of slowing as January growth eased to 5.28%.

National Bureau of Statistics official Margot Zuwono said Monday that inflation was “checked and controlled” for a brief period. According to officials, economic activity continues to strengthen, tourism is recovering, and industrial activity is increasing.

Last year’s increase in foreign direct investment had a very large positive impact on the economy, but exports began to decline in the last months of 2022. This suggests that the economy will not regain the benefits of the downturn that helped boost exports until 2022. on record.

Last month, the Ministry of Finance said weak global economic activity and rising interest rates could slow gross domestic product (GDP) growth in 2013.

According to sources, Hillhouse will share Loch Lomond weight in the profits of the sale.

According to sources, Hillhouse will share Loch Lomond weight in the profits of the sale.

(Bloomberg Opinion) — Hillhouse Capital is considering selling its stake in Loch Lomond Scotch Whiskey Group and a potential buyer is showing interest, a family member said.

The private equity firm and investment firm asked not to be identified when contacted to handle the matter, people familiar with the matter said. People say that Loch Lomond is worth about 800 million dollars.

Hill House bought Le Monde in 2019. The company and Chongqing Xiaobai Liquor, a Hill House-backed Chinese spirits producer, will jointly manage the Scotch maker, the sources said.

Sources say negotiations are in the early stages and Hillhouse may still keep his promise. A spokesman for Hillhouse declined to comment.

According to their website, the first distillery in Loch Lomond dates back to 1814. We produce single malt and single grain Scotch whiskey at our distillery in Alexandria, Scotland.

Hillhouse, founded by Zhang Li in 2005 with support from the Yale University Foundation, had assets under management of about $106 billion at the end of 2021. We employ more than 450 investment and management professionals, as listed on our website.

Gold climbed, but H fears, and a stronger dollar pushed it below $1,900.

Gold climbed, but H fears, and a stronger dollar pushed it below $1,900.

Reuters – Gold prices edged higher on Monday but remained at $1,900 an ounce on concerns of a stronger dollar and more borrowing from the US Federal Reserve.

Gold rose 0.6% at $1,876.61 an ounce by 0540 GMT, and early in the session, he reached his lowest level since January 6. US gold prices rose 0.7% to $1888.80.

Precious metals fell more than 2% on Friday after data showed a sharp acceleration in U.S. job growth last month, with the unemployment rate rising to 3.4%.

Initially, the market expected its first rate cut in the third quarter of 2023 (after the FOMC meeting and before the release of nonfarm payroll data), but expectations for the first rate cut have now been lowered. I’m here. From November 2023 until December, he says OCBC FX strategist Christophe Wang.

Market H now expects rates to remain high (still around 5%) for a long time. On the other hand, this can make gold less attractive.

Interest rates helped the dollar index rise by 0.2%, increasing pressure on gold and boosting the number of buyers for other currencies. [USD/]

Rising U.S. interest rates will reduce the attractiveness of gold. As the dollar rises, the opportunity cost of holding troubled assets increases, pushing up the value of gold.

We see the (gold) price in the $1820 to $1950 range, but I think it’s more constructive, especially as the market is eager to return to low-interest rates and a weaker dollar (we think). Marex Metallurgy analyst Edward Meer wrote in his monthly report:

Silver rose 0.5% to $22.47 an ounce, platinum rose 0.1% to $973.45 and palladium rose 0.3% to $1,628.63.

As for PGM, supply disruptions to South Africa as the industry crisis deepens will stabilize prices in the short term, he said in a statement.

Investors have 20 to 30 percent ownership in some provinces: Statistics Canada

Investors have 20 to 30 percent ownership in some provinces: Statistics Canada

According to new 2020 data from Statistics Canada, nearly a third of homeowners in some provinces were investors.

Investors accounted for 31.5 percent of Nova Scotia owners and 29 percent of New Brunswick owners that year, according to the data.

Investment in British Columbia accounts for 23.3%, Manitoba 20.4%, and Ontario 20.2%.

According to the agency’s estimates, by 2020, 1 in 5 households in British Columbia, Manitoba, Ontario, New Brunswick, and Nova Scotia considered investing in real estate.

Those who lived in the same state and property generally owned houses on the mortgage.

However, condos are used more for investment purposes than for housing, and in Ontario, alone condos are mostly used for investment purposes at 41.9%.

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