Mains: Relations between India and African countries
Context:
♻️4th Session of India-Ghana Joint Trade Committee held in Accra.
♻️Details:
✅In the meeting, both sides undertook a detailed review of recent developments in bilateral trade and investment ties and acknowledged the vast untapped potential for further expansion.
✅Both sides agreed to work expeditiously towards the operationalisation of the Unified Payment Interface (UPI) of the National Payments Corporation of India (NPCI) on Ghana’s Ghana Interbank Payment and Settlement Systems (GHIPSS) within 6 months.
✅Both sides delved into discussions regarding the possibilities of a Memorandum of Understanding (MoU) on Digital transformation Solutions; and Local Currency Settlement System and also deliberated on the opportunities offered by the African Continental Free Trade Agreement (AfCFTA).
✅Both sides identified several areas of focus for enhancing bilateral trade and mutually beneficial investments.
✅The areas include pharmaceuticals, healthcare, information and communication technology, agriculture and food processing, renewable energy, power sector, digital economy and digital infrastructure, critical minerals, textiles and garments, etc. India – Ghana Relations:
✅Ghana is an important trading partner of India in the African region.
✅Bilateral trade between India and Ghana stood at USD 2.87 billion in 2022-23.
✅India is a leading investor in Ghana and emerged as the third-largest investor.
✅These investments traverse diverse sectors, encompassing pharmaceuticals, construction, manufacturing, trade services, agriculture, tourism, and more.
Mains: Relations between India and African countries
Context:
♻️4th Session of India-Ghana Joint Trade Committee held in Accra.
♻️Details:
✅In the meeting, both sides undertook a detailed review of recent developments in bilateral trade and investment ties and acknowledged the vast untapped potential for further expansion.
✅Both sides agreed to work expeditiously towards the operationalisation of the Unified Payment Interface (UPI) of the National Payments Corporation of India (NPCI) on Ghana’s Ghana Interbank Payment and Settlement Systems (GHIPSS) within 6 months.
✅Both sides delved into discussions regarding the possibilities of a Memorandum of Understanding (MoU) on Digital transformation Solutions; and Local Currency Settlement System and also deliberated on the opportunities offered by the African Continental Free Trade Agreement (AfCFTA).
✅Both sides identified several areas of focus for enhancing bilateral trade and mutually beneficial investments.
✅The areas include pharmaceuticals, healthcare, information and communication technology, agriculture and food processing, renewable energy, power sector, digital economy and digital infrastructure, critical minerals, textiles and garments, etc. India – Ghana Relations:
✅Ghana is an important trading partner of India in the African region.
✅Bilateral trade between India and Ghana stood at USD 2.87 billion in 2022-23.
✅India is a leading investor in Ghana and emerged as the third-largest investor.
✅These investments traverse diverse sectors, encompassing pharmaceuticals, construction, manufacturing, trade services, agriculture, tourism, and more.
In general, many financial experts support their clients’ desire to buy cryptocurrency, but they don’t recommend it unless clients express interest. “The biggest concern for us is if someone wants to invest in crypto and the investment they choose doesn’t do well, and then all of a sudden they can’t send their kids to college,” says Ian Harvey, a certified financial planner (CFP) in New York City. “Then it wasn’t worth the risk.” The speculative nature of cryptocurrency leads some planners to recommend it for clients’ “side” investments. “Some call it a Vegas account,” says Scott Hammel, a CFP in Dallas. “Let’s keep this away from our real long-term perspective, make sure it doesn’t become too large a portion of your portfolio.” In a very real sense, Bitcoin is like a single stock, and advisors wouldn’t recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if you’re passionate about it. “If it was one stock, you would never allocate any significant portion of your portfolio to it,” Hammel says.
Spiking bond yields driving sharp losses in tech stocks
A spike in interest rates since the start of the year has accelerated a rotation out of high-growth technology stocks and into value stocks poised to benefit from a reopening of the economy. The Nasdaq has fallen more than 10% over the past month as the Dow has soared to record highs, with a spike in the 10-year US Treasury yield acting as the main catalyst. It recently surged to a cycle high of more than 1.60% after starting the year below 1%. But according to Jim Paulsen, the Leuthold Group's chief investment strategist, rising interest rates do not represent a long-term threat to the stock market. Paulsen expects the 10-year yield to cross 2% by the end of the year.
A spike in interest rates and its impact on the stock market depends on the economic backdrop, according to Paulsen. Rising interest rates amid a strengthening economy "may prove no challenge at all for stocks," Paulsen said.
