Umesh Desai

Umesh Desai is Executive Editor at Asia Times Financial and Finance Editor at Asia Times.

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Stimulus hopes boosts mood, but volatility looms

Stimulus hopes boosts mood but volatility looms

(ATF) Hong Kong: Investors piled into risky assets on hopes the United States will unveil fresh stimulus measures but concerns about volatility reined in gains as people are mindful about the potential for problems in the transition of power after the US elections.“Hopes that a US fiscal stimulus package could ...

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Investors braced for a rocky ride as the US election nears

Investors braced for a rocky ride as the US election nears

(ATF) Hong Kong: Investors braced for stormy sessions ahead as sparks flew at the US Presidential Debate on Tuesday night (early Wednesday in Asia) with both candidates indulging in name calling and US President Donald Trump refusing to commit to a peaceful transfer of power if he loses the election. ...

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Alibaba’s cloud unit expected to turn a profit soon 

Alibaba’s cloud unit expected to turn a profit soon

China’s e-commerce giant Alibaba’s cloud unit will turn profitable and its parcel-tracking platform operator Cainiao is expected to generate positive operating cash flow in fiscal 2021, Chief Financial Officer Maggie Wu said at an investor day event on Wednesday.Alibaba said revenue growth was robust, rising in the year to June ...

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India's Ambani earned $12 million an hour: Hurun list

India's Ambani earned $12 million an hour: Hurun list

(ATF) Mukesh Ambani, the world’s fourth richest man, earned over $12 million every hour since the March lockdown in Asia’s third biggest economy – while the number of Indian billionaires jumped by over a quarter, according to IIFL Wealth Hurun India Rich List 2020.“The combined wealth of India’s richest is ...

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US presidential debate spurs caution 

US presidential debate spurs caution 

(ATF) Hong Kong: Investors are holding their breath ahead of the first of the three televised debates between President Donald Trump and challenger Joe Biden that will influence voters in the November US Presidential elections. Also awaited are speeches from two Federal Reserve officials and a rash of data from ...

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Markets this week: US moves against SMIC, India rate decision, non farm payroll

Markets this week: US moves against SMIC, India rate decision, non farm payroll

Economic eventsFinancial markets will be edgy in the week ahead as tensions between the world’s two biggest economies remain elevated with Washington moving over the weekend to set curbs on China’s biggest chip maker SMIC over security concerns. The United States imposed restrictions on exports to SMIC stating it could ...

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Investors tiptoe back but jittery about US stimulus

Investors tiptoe back but jittery about US stimulus

(ATF) Hong Kong: Risk assets were on the defensive after a spike in infections in some of the biggest European countries stoked economic worries and amid fading hopes of a stimulus in the world’s biggest economy.“As Covid-19's third wave is beginning to take hold of the US, Americans need stimulus ...

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