Category «ECONOMIC NEWS»

US dollar clings to gains as bets on further Fed hikes firm

The dollar fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments, while the prospect of higher energy prices helped exporters’ currencies and weighed on those of importers. The dollar rose 1% on the euro and 1.3% on sterling overnight and was trying to hold those …

Asian Stocks Slammed by Fed Rate Hike Risks

Asian stock markets sank on Wednesday, tracking overnight losses on Wall Street as investors awaited an interest rate hike and more hawkish signals from the Federal Reserve. Hong Kong’s technology-heavy Hang Seng index continued to lag behind its peers, falling 1.5%, while Japan’s Nikkei index lost 1.3%. The day’s losses also negated a soft rebound seen earlier this week. …

Foreign investors snap up Indian bonds set for inclusion in global indexes

Foreign investors have stepped up purchases in a clutch of Indian government bonds that have no limits on foreign investments ahead of an anticipated inclusion of Indian debt in global bond indexes, analysts said. The central bank removed foreign investment caps for a number of securities under the ‘fully accessible route’  in April 2020 to help meet …

WPI inflation rises to 8-month high of 1.48% on pharma, metal prices

By Administrator _India Capital Sands The wholesale price index-based (WPI-based) inflation rate rose for the third straight month to an eight-month high of 1.48 per cent in October from 1.32 per cent in the previous month. Economists said the WPI data enforced the case for the status quo in the Reserve Bank of India’s policy …

India’s services activity contracted for fifth straight month in July – PMI

By Administrator_India Capital Sands India’s dominant services industry, a key driver of economic growth, shrank for a fifth straight month in July as restraining measures to stop the spread of the coronavirus hurt business activity and led to record job cuts, a survey showed. India has recorded the third highest number of coronavirus cases globally, …

India, U.S. closing in on trade deal

India, U.S. closing in on trade deal

By Administrator_India Capital Sands India and the United States are closing in on a trade deal, Commerce Minister Piyush Goyal said on Tuesday, after two years of negotiations. India is seeking concessions for generic drugs it exports to the United States in return for opening its dairy markets and slashing tariffs on farm goods as …

Indian stocks to lag rivals as stimulus falls short

Indian stocks to lag rivals as stimulus falls short

By Administrator_India Capital Sands Foreign investors have begun to price in a slower rebound for Indian stocks this year on concerns that the relatively meagre stimulus the government has delivered for businesses and consumers will leave the economy trailing its main rivals. Mumbai’s equity indices have bounced about 43% since crashing to a four-year low …

Indian shares rise on recovery hopes, Nifty set for best quarter in 11 years

Sensex, Nifty gain as HDFC Bank earnings boost financials

By Administrator_India Capital Sands Indian shares rose on Tuesday, with the benchmark index set for its best quarter since 2009, as upbeat U.S. and China data renewed economic recovery hopes, while investors awaited Prime Minister Narendra Modi’s speech later in the day. The Nifty rose 0.74% to 10,389.05 by 0351 GMT, while the Sensex was …

India’s election-bound Bihar state records nearly double national jobless rate

India's election-bound Bihar state records nearly double national jobless rate

By Administrator_India Capital Sands India’s eastern Bihar state, one of the country’s largest and poorest states, posted a steep rise in unemployment in the year ended June 2019 to record nearly double the national jobless rate, only months out from elections. The latest state unemployment data released on Tuesday is a lagging indicator and the …