Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Oil was down Friday morning in Asia, but held onto the bulk of a three-day advance, as optimism that rising demand will tighten the global market prevailed. Brent oil futures were down 0.37% to $73.52 by 11:24 PM ET (3:24 AM GMT). WTI futures fell 0.38% to $71.64 and was 0.3% lower in early Asian …

Byju’s acquires US-based digital reading platform Epic for $500 mn

Byju's acquires US-based digital reading platform Epic for $500 mn

By Administrator_India Capital Sands Byju’s, India’s most valuable start-up, has acquired US-based digital reading platform Epic for $500 million, strengthening its position in the education technology (edtech) sector. The acquisition will help Byju’s expand its US footprint by providing access to the more than two million teachers and 50 million kids in Epic’s existing global …

Wall Street closes higher, Treasury yields rebound despite COVID variant fears

Wall Street closes higher, Treasury yields rebound despite COVID variant fears

By Administrator_India Capital Sands Wall Street notched a comeback on Tuesday with all the major indexes closing higher, and yields on safe-haven U.S. Treasuries bouncing off lows as investors sought riskier assets even as worries remained about a resurgence in COVID-19. Wall Street’s main indexes all rose by more than 1.5%, with the Dow ahead …

Air traffic grows 47% in June as Delhi, Maharashtra ease Covid-19 curbs

Air traffic grows 47% in June as Delhi, Maharashtra ease Covid-19 curbs

By Administrator_India Capital Sands Domestic air traffic grew 47.6% in June over May as states such as Delhi and Maharashtra eased Covid-19 curbs. In May, the traffic had fallen 63%. Industry-wide passenger load factor rose to 62.9% in June from May’s 50.5%. SpiceJet had the highest load factor of 70%. Air India retained the number two rank in market share for …

MARKETS: Sensex down 350 pts, Nifty tests 15,800; IT stocks gain, banks dip

Wall Street closes higher, Treasury yields rebound despite COVID variant fears

By Administrator_India Capital Sands Dalal Street clocked a gap-down start on Monday as concerns about the impact of elevated inflation and Covid-19 outbreaks on economic prospects weighs on sentiment. The benchmark S&P BSE Sensex declined 360 points in early deals to trade at 52,781 levels while the Nifty50 started with a 100-pts cut at 15,823. In the …

India’s economy may have grown 22.1% in Q1, but demand is still low: RBI

India's economy may have grown 22.1% in Q1, but demand is still low: RBI

By Administrator_India Capital Sands The tapering of the second Covid-19 wave, coupled with an aggressive vaccination push, has brightened the near-term prospects for the Indian economy, and real gross domestic product (GDP) growth is estimated at 22.1 per cent in the April-June quarter, the Reserve Bank of India (RBI) said in its July bulletin on Thursday. “A …

Dollar regroups after Powell push

Dollar regroups after Powell push

By Administrator_India Capital Sands The dollar retreated from recent peaks on Thursday, following further reassurance from Federal Reserve chair Jerome Powell that he was in no rush to tighten policy, though losses were kept in check by investor nerves ahead of Chinese growth data. Powell said overnight that high inflation seemed linked to reopening, that …

Flipkart employees to return to office for three days a week starting December 2021

Flipkart employees to return to office for three days a week starting December 2021

By Administrator_India Capital Sands Walmart-owned Flipkart’s employees will return to office thrice a week starting December 2021, as it looks to vaccinate all of its employees and move to a hybrid working model. Flipkart CEO Kalyan Krishnamurthy made the announcement at an employee townhall on July 13th, 2021, hours after the e-commerce major raised a …

Retail inflation eases slightly to 6.26%, remains above RBI’s comfort level

Retail inflation eases slightly to 6.26%, remains above RBI's comfort level

By Administrator_India Capital Sands India’s retail inflation eased marginally to 6.26 per cent in June from 6.30 per cent in the previous month owing to moderation in rural inflation, even as it remained above the upper range of the Reserve Bank of India’s (RBI’s) 2-6 per cent target for the second straight month, the official data showed …

Dollar Up, Investors Await U.S. Inflation Trajectory

Dollar regroups after Powell push

By Administrator_India Capital Sands The dollar was up on Monday morning in Asia. Risk currencies remained above their recent lows against both the U.S. currency and the yen as investor fears of a slowdown in the global economic recovery from COVID-19 calmed down for now. The U.S. Dollar Index that tracks the greenback against a basket of …