SEBI awaiting forensic audit reports on credit rating agencies for greater clarity
By Ritu, Capital Sands SEBI is waiting for forensic audit reports on credit rating agencies which will give a clearer picture of wrongdoings. The forensic audit or investigation report from Care, ICRA and India Rating may come out in a month’s time. “SEBI is awaiting forensic audit report on credit rating agencies which will give […]
Putin speeds up Russian political shake-up, details new power centre
By Ritu, Capital Sands President Vladimir Putin accelerated a shake-up of Russia’s political system on Monday, submitting a constitutional reform blueprint to parliament that will create a new centre of power outside the presidency. Putin also replaced Prosecutor General Yuri Chaika, who had held the role since 2006, a move suggesting his planned changes could […]
World’s richest 2000 people hold more than poorest 4.6 billion combined: Oxfam
By Ritu, Capital Sands The world’s richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019, while unpaid or underpaid work by women and girls adds three times more to the global economy each year than the technology industry, Oxfam said on Monday. The Nairobi-headquartered charity said in a report released […]
Fines for European privacy breaches reach 114 million euros: report
By Ritu, Capital Sands European regulators have imposed 114 million euros ($126 million) in fines for data breaches since tougher privacy rules came into force in mid-2018, with approaches varying widely from country to country. A report by law firm DLA Piper said France has imposed the biggest single fine – of 50 million euros […]
Pound Falls After Weak U.K. Retail Boosts Prospect of Rate Cut
By Ritu, Capital Sands The pound slipped after U.K. retail sales data unexpectedly fell in December, increasing the chances that the Bank of England may cut a key interest rate this month. Sterling dropped 0.2% to $1.3049 and declined against all its Group-of-10 peers as the volume of goods sold in stores and online fell 0.6% in December, confounding […]
BJP’s OBC meet to begin in Patna today, all eyes on Mahagathbandhan vote bank
By Ritu, Capital Sands After wooing upper caste voters by bringing a law to provide 10 per cent reservation to economically weaker section amongst the forward caste, the Bharatiya Janata Party is now eyeing to make inroads into the OBC vote bank of the Mahagathbandhan ahead of the crucial 2019 Lok Sabha elections. The […]
Sensex gained 1,000 points in 36 sessions to scale Mt 42K; over 300 stocks up 10-100%
By Ritu Capital Sands The Sensex crossed 42,000 for the first time as it touched 42,059 in the morning trade on January 16. It took 36 sessions for the index to make the journey from 41,000 (first hit on November 26) to 42,000, but the big movers were the small & midcap stocks. The Sensex […]
Oil gains after U.S.-China trade deal, rise in inventories
By Ritu, Capital Sands Oil prices rose on Thursday after the signing of an initial Sino-U.S. trade deal that sets the stage for a surge in Chinese purchases of American energy products, while U.S. crude inventories fell more than expected. Brent was 45 cents, or 0.7%, higher at $64.45 a barrel, while U.S. crude was up […]
Bank of England’s Saunders sticks to rate cut view
By Ritu, Capital Sands Bank of England interest-rate setter Michael Saunders said on Wednesday he was sticking to his view that borrowing costs should be cut because of weakness in Britain’s labor market and its broader economy. “It probably will be appropriate to maintain an expansionary monetary policy stance and possibly to cut rates further, […]
Michael Patra appointed deputy governor of RBI for a three-year term
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. […]