In six weeks’ time Narendra Modi is expected to win a third term as India’s prime minister, cementing his status as its most important leader since Nehru. The electoral success of this tea-seller’s son reflects his political skill, the potency of his Hindu-nationalist ideology and his erosion of democratic institutions. But it also reflects a sense among ordinary voters and elites that he is bringing India prosperity and power.   Mr Modi’s India is an experiment in how to get richer amid deglobalisation and under strongman leadership. Whether it can grow fast and avoid unrest over the next 10-20 years will shape the fate of 1.4bn people and the world economy. As our special report explains, Mr Modi’s formula is working—up to a point. But there are questions over whether India’s success can last and whether it depends on him remaining in power.   India, the world’s fastest-growing big country, is expanding at an annual rate of 6-7%. New data show private-sector confidence at its highest since 2010. Already the fifth-largest economy, it may rank third by 2027, after America and China. India’s clout

Thailand’s Prime Minister, Mr. Srettha Thavisin, has issued a directive to address the pressing issue of industrial city planning that is impeding investment opportunities in the country. Under his guidance, Ms. Pimpatra Wichaiyakul, the Minister of Industry, has been tasked with convening executives from the Ministry of Industry to devise solutions. Additionally, discussions with the Department of Public Works and Town Planning, under the Ministry of Interior, are underway to overcome these obstacles.   The urgency of this directive stems from the significant increase in investment figures observed throughout 2023. This surge in investment, evident from the rising number of applications received by the Board of Investment (BOI) and the investment figures in the Eastern Economic Corridor (EEC), underscores Thailand’s attractiveness as an investment destination. However, challenges persist in industrial city planning, as highlighted by feedback from numerous investors.   One such investor of notable interest is Tesla, the renowned electric vehicle manufacturer. Following Prime Minister Srettha’s promotional efforts in the United States, Tesla expressed interest in exploring investment opportunities in Thailand. However, Tesla’s stringent requirement of a 2,000-rai plot

  Bitcoin was trading at $56,772 The move upward pushed Bitcoin’s market cap up to $1,093.4B, or 51.64% of the total cryptocurrency market cap. At its highest, Bitcoin’s market cap was $1,275.5B. Over the past seven days, Bitcoin has seen a rise in value, as it has 7.78%. The volume of Bitcoin traded in the twenty-four hours to the time of writing was $36.7B. Over the past week, Bitcoin has shown a significant increase in value, rising by 7.78% compared to the previous week. This growth highlights Bitcoin’s strong market performance, catching the interest of both investors and observers.  

A division of Goldman Sachs’ transaction-banking business (TxB) has stopped signing on riskier financial technology clients after a warning from the U.S. According to the Financial Times report on Thursday, the Federal Reserve had a discussion about risk and compliance earlier this year. The Fed has raised concerns about the Goldman division’s insufficient due diligence and monitoring processes when accepting high-risk non-bank clients.  

The market awaits a big interest rate decision from the Fed and ECB next week. And keeping an eye on the decisions of other central banks. The Reserve Bank of Australia surprised yesterday by raising interest rates. And today the focus is on the Federal Reserve Bank of Canada. Here are factors investors should consider before making a decision.   The crypto market moved higher this morning.   Updates from the Crypto Market, gain is in the focus.   Bitcoin is trading at $26,000 and Ethereum at $1,800.  

Most of the Asian currencies retreated on Friday, coming under pressure from uncertainty over U.S. monetary policy following mixed economic readings this week. The Chinese yuan traded at two-month lows after the worse-than-expected trade and inflation data released this week pointed to a slowing economic rebound in Asia’s largest economy. Weakness in the Chinese economy dulled sentiment towards broader Asian markets.  The South Korean won fell 0.2%, while the Malaysian ringgit shed 0.3%, even as data showed that Malaysia’s economy grew more than expected in the first quarter. The Australian dollar shed 0.1% but remained relatively underpinned by expectations of more interest rate hikes by the Reserve Bank. The Japanese yen fell 0.1% and was set for mild weekly gains as fears of a U.S. banking crisis and uncertainty over the debt ceiling made for some safe-haven demand.