By Ritu, Capital Sands As the budget day draws near, economists have strongly argued against personal tax cuts arguing that government should use the money it has to invest and stimulate demand. Exports said income tax cut would benefit only 2-3 percent of the population and may not be the best option to stimulate growth. […]
By Ritu, Capital Sands In a massive outreach by the central government in Jammu and Kashmir two months after it formally became a Union territory, about 36 union ministers are scheduled to visit it from January 18 to January 25 to meet people and exchange ideas on the possibilities in the region. While the Citizenship Amendment Act […]
By Ritu, Capital Sands Michael Debabrata Patra, 59, has been appointed the Reserve Bank of India (RBI) deputy governor for three years. The post fell vacant after Viral Acharya resigned on July 23 last year. Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012. […]
By Ritu, Capital Sands The pound extended its decline to the longest run in eight months as speculation of an imminent Bank of England interest-rate cut increased. Sterling fell as much as 0.3% against the dollar to $1.2955. Credit Agricole SA pointed out that more than half of the members of the bank’s Monetary Policy Committee are […]
By Ritu, Capital Sands Asian stocks rose in morning trade on Tuesday after the U.S. dropped China’s currency manipulator label, saying that it has made “enforceable commitments” not to devalue the yuan. China’s Shanghai Composite inched up 0.1%, while the Shenzhen Component gained 0.3%. “China has made enforceable commitments to refrain from competitive devaluation, while promoting transparency and accountability. […]
By Ritu, Capital Sands The dollar opened the week stronger against the pound sterling and the Japanese yen, but weaker against the euro, with markets still unsettled by the weak labor market report on Friday. The dollar index, which measures the greenback against a basket of currencies, was effectively unchanged at 97.130. However, that masked a 0.5% rise for […]
By Ritu, Capital Sands China’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday. Liu will visit Washington on Jan. 13-15, said Gao Feng, spokesman at the commerce ministry. Negotiating teams from both sides […]
By Ritu, Capital Sands The Japanese yen and Swiss franc retreated on Thursday as the United States and Iran backed away from the brink of further conflict in the Middle East. U.S. President Donald Trump responded overnight to an Iranian attack on U.S. forces with sanctions, not violence. Iran offered no immediate signal it would […]
By Ritu, Capital Sands The Swiss franc held gains against the dollar on Tuesday as traders sought save-havens amid heightened anxiety about potential Iranian retaliation to a U.S. drone strike that killed its most prominent military commander. The yen, another safe-haven currency, pulled back from a three-month high versus the dollar, but sentiment remains fragile […]
By Ritu, Capital Sands BNP Paribas is planning to join JPMorgan Chase & Co. and Citigroup Inc . by setting up an electronic currency trading and pricing platform in Singapore. The facility will support electronic trading of 50 currencies in spot, forward, swaps, non-deliverable forwards and options, according to a company statement. It will also […]