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 U.S. President Donald Trump threw his support, welcome or not, behind Democratic presidential contender Bernie Sanders in his back-and-forth with rival Elizabeth Warren, saying he did not believe Sanders would suggest a woman could not win the 2020 election. Tensions between Warren and Sanders, two progressive U.S. senators who are running […]
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 U.S. and China to bury the trade hatchet Chinese Vice Premier Liu He will visit Washington to sign the Phase 1 trade deal with the U.S. on Wednesday, which will deescalate the trade war between the two sides. But no deadline has been set for the next phase of talks to begin […]
By Ritu, Capital Sands USD/JPY trades positive near the two-week high, on a five-day winning streak. Bullish engulfing on the weekly chart confronts 109.48/52 resistance confluence. 200-week SMA adds to the resistance. USD/JPY takes the bids to 109.55 during the initial trading session on Friday. In doing so, the pair registers a bullish candlestick formation on the […]
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 […]