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Private cryptocurrencies threat to macroeconomic, financial stability, warns RBI guv
Business

Private cryptocurrencies threat to macroeconomic, financial stability, warns RBI guv

The comments by Shaktikanta Das gain in significance because they come days after the Union Budget put a 30 per cent tax on gains made on such assets

US Federal Reserve plans interest-rate hikes from March to cool inflation
World

US Federal Reserve plans interest-rate hikes from March to cool inflation

The Fed's rate hikes will make it more expensive, over time, to borrow for a home, car or business

Global growth could slow sharply due to Omicron variant of COVID-19, warns World Bank
World

Global growth could slow sharply due to Omicron variant of COVID-19, warns World Bank

In its latest Global Economic Prospects report, the Washington-based development lender cut its forecast for world economic growth this year to 4.1 percent after the 5.5 percent rebound last year.

Gold and silver MCX futures rise by Rs 109 and Rs 115 on 13 July
Business

Gold and silver MCX futures rise by Rs 109 and Rs 115 on 13 July

MCX gold futures were at Rs 47,883 per 10 grams, going up slightly from Rs 47,774. Silver futures also rose to Rs 69,490 per kilogram.

Sensex drops over 300 points in early trade, Nifty slips below 15,700; Asian Paints gains, Tech Mahindra disappoints
Business

Sensex drops over 300 points in early trade, Nifty slips below 15,700; Asian Paints gains, Tech Mahindra disappoints

Sensex Nifty today: The 30-share BSE index was trading 302.80 points or 0.58 percent lower at 52,199.18 in initial deals and the broader NSE Nifty declined 93.70 points or 0.59 percent to 15,673.85.

Reserve Bank of India becomes world's first central bank to reach 1 million Twitter followers
India

Reserve Bank of India becomes world's first central bank to reach 1 million Twitter followers

What makes the achievement all the more impressive it that the 85-year-old Reserve Bank was a latecomer to the world of Twitter, creating its account only in January 2012

US economy will recover, could stretch through end of next year, says Federal Reserve chairman Jerome Powell
Business

US economy will recover, could stretch through end of next year, says Federal Reserve chairman Jerome Powell

The US economy, the world's largest, which has been thrown into a recession due to the coronavirus pandemic, will rebound but the recovery could stretch through the end of next year, Federal Reserve Chairman Jerome Powell has said

Gold holds steady ahead of US Federal Reserve Chairman Jerome Powell's speech
Business

Gold holds steady ahead of US Federal Reserve Chairman Jerome Powell's speech

Gold held steady on Wednesday as market participants stayed away from making big bets ahead of a speech by Federal Reserve Chairman Jerome Powell amid rising speculation the United States could one day adopt negative interest rates

Wall Street rallies as some US states relax lockdown restrictions; all major indexes claw back, gain over 1%
Business

Wall Street rallies as some US states relax lockdown restrictions; all major indexes claw back, gain over 1%

The indexes are all now within 20 percent of their record closing highs reached in February, with the benchmark S&P 500 on track for its best month since 1987, after trillions of stimulus dollars helped US equities recover from March lows.

Coronaviorus Outbreak: US Fed's economic rescue plan may shape global economy for decades to come
Business

Coronaviorus Outbreak: US Fed's economic rescue plan may shape global economy for decades to come

US Federal Reserve officials launched an economic rescue plan in record time last month as the coronavirus pandemic spread, reaching decisions that may shape the global economy for decades to come in the space of a few frantic weeks

Gold gains after a fall in previous session; set for second weekly drop amid flight for cash, widening economic fallout
Business

Gold gains after a fall in previous session; set for second weekly drop amid flight for cash, widening economic fallout

Spot gold rose 0.4 percent to $1,475.43 per ounce by 0029 GMT. It was down more than 3 percent for the week

Dollar thrives, Aussie trampled in rush for liquidity amid deepening fear around coronavirus drives scramble for greenback
Business

Dollar thrives, Aussie trampled in rush for liquidity amid deepening fear around coronavirus drives scramble for greenback

All other currencies are well-below where they were a week ago as investors sell just about everything for dollars and businesses seek to draw down loans and hoard cash to ride out the crisis.

Gold rises in early trade after Fed rate cut, but pares gains as investors go for cash hunt
Business

Gold rises in early trade after Fed rate cut, but pares gains as investors go for cash hunt

Spot gold was up 0.9 percent at $1,543.60 per ounce by 0248 GMT, having risen as much as 2.8% earlier. The metal fell 3 percent on Friday. US gold futures rose 1.8 percent to $1,544.20 per ounce.

Fed slashes rates; global central banks coordinate to cushion world economy from coronavirus blow
Business

Fed slashes rates; global central banks coordinate to cushion world economy from coronavirus blow

In a news conference, Federal Reserve chairman Jerome Powell said the epidemic was having a “profound” impact on the economy, forcing whole industries like travel and leisure offline.

Stock rebound stalls as doubts about US stimulus package to fight coronavirus outbreak response grows
Business

Stock rebound stalls as doubts about US stimulus package to fight coronavirus outbreak response grows

Many analysts say investors need to remain on guard for further market volatility because the coronavirus still poses a risk to public health in many countries, which could place additional strain on the global economy

Asian markets skid again; selling restrained by hopes of central bank rate cuts, stimulus talks
Business

Asian markets skid again; selling restrained by hopes of central bank rate cuts, stimulus talks

Speculation of more central bank rate cuts and possible fiscal stimulus saw US Treasury yields edge up from historic lows, and oil prices paused after the steepest fall since the 1991 Gulf war.

Coronavirus outbreak and economic impact: If G7 call is talk and no action, markets could be disappointed, say analysts
Business

Coronavirus outbreak and economic impact: If G7 call is talk and no action, markets could be disappointed, say analysts

G7 finance ministers and central bank governors will hold a conference call on Tuesday to discuss measures to deal with the coronavirus outbreak and its economic impact.

Sensex opens over 150 points higher at 40,562, Nifty rises 47 points to 11,957; Yes Bank top gainer with over 4% jump
Business

Sensex opens over 150 points higher at 40,562, Nifty rises 47 points to 11,957; Yes Bank top gainer with over 4% jump

Yes Bank was the top gainer in the Sensex pack rallying up to 4.32 percent, followed by Tata Motors, Tata Steel, Vedanta, IndusInd Bank, Hero MotoCorp, SBI and Sun Pharma

Rupee slips 11 paise against dollar in early trade as investors remain cautious ahead of Fed's interest rate decision
Business

Rupee slips 11 paise against dollar in early trade as investors remain cautious ahead of Fed's interest rate decision

A positive opening in domestic equity market and easing crude oil prices supported the rupee and restricted the fall, forex dealers said.