European banks still booking profits in tax havens, says report
By Administrator_ India Capital Sands Top banks in Europe continue to use tax havens to book chunks of profits, a trend that has changed little since 2014 despite country-by-country disclosures becoming mandatory, the EU Tax Observatory said in a report on Monday. The independent research body, co-financed by the European Union, said disclosures from 36 major European banks showed they booked […]
ECB vows to persist with negative rates in bid to fuel inflation
By Administrator_ India Capital Sands The European Central Bank revised its guidance on when interest rates might rise to convince investors it won’t withdraw support too hastily and derail the economic recovery. The move is aimed at strengthening the ECB’s long-running efforts to push up inflation, but it also means policymakers won’t necessarily react immediately if price […]
Turkish Lira sinks after Tayyip Erdogan fires central bank chief
By Administrator_ India Capital Sands Turkey’s lira briefly fell 15 percent to near its all-time low on Monday after President Tayyip Erdogan’s shock weekend ousting of a hawkish central bank governor sparked fears of a reversal of recent rate hikes. The news is set to further rock the economy of 82 million people and could have a […]
Federal Reserve likely to forecast biggest economic boom in a generation
By Administrator_India Capital Sands Federal Reserve officials are due to issue new economic projections on Wednesday, with GDP growth likely to be a blow-out number that sets the stage for a historic experiment by US central bank policymakers. Fed Chair Jerome Powell and his colleagues are betting the economy can take off from the Covid-19 pandemic without generating excessive inflation, […]
IMF chief urges G20 action to reverse global economy’s dangerous divergence
By Administrator_India Capital Sands Group of 20 countries should take strong policy actions to reverse a “dangerous divergence” that threatens to leave most developing economies languishing for years, the head of the International Monetary Fund said. IMF Managing Director Kristalina Georgieva said “much stronger international collaboration” was needed to accelerate the rollout of Covid-19 vaccines in poorer countries, including […]
Oil Jumps After Industry Group Reports U.S. Crude Supply Decline
By Administration_ India Capital Sands Oil extended gains after an industry group reported a larger-than-expected decrease in U.S. crude stockpiles. Futures in New York rose in after-market trading after closing 0.8% higher on Tuesday amid thin liquidity. The American Petroleum Institute reported domestic crude inventories fell 4.79 million barrels last week. That would be the largest stockpile […]
Oil gains on hopes US pandemic stimulus payments to spur fuel demand
By Administration_ India Capital Sands Oil rose on Tuesday, for the third time in four sessions, on expectations for rising fuel demand as the United States may expand their pandemic aid payments and a final Brexit deal is set to stabilize trade between Europe and the UK. Brent crude futures climbed 36 cents, or 0.7%, […]
UK confronts threat of food crisis as coronavirus surge blocks trade
By Administration _ India Capital Sands The UK confronted threats of food insecurity and panicked shopping days before Christmas as European nations restricted trade and travel to guard against a resurgent coronavirus, offering Britain a preview of the border chaos to come in the absence of a Brexit deal. Fearing a fast-spreading new strain of the virus […]
US puts India on currency watch list, labels Switzerland as manipulator
By Administrator_ India Capital Sands The US Treasury labeled Switzerland and Vietnam as currency manipulators on Wednesday and added India, Taiwan and Thailand to a watch list of countries it suspects of taking measures to devalue their currencies against the dollar. The “monitoring list” of countries has now hit 10. Others on the list include China, Japan, Korea, Germany, Italy, Singapore […]
Walmart Prepares For $10 Billion Flipkart IPO In The US
By Administrator_ India Capital Sands Walmart is preparing for ecommerce major Flipkart’s $10 billion initial public offering in the US and has hired Goldman Sachs to assist with the listing. The US retail giant is looking to sell around 25 percent in Bengaluru-based Flipkart, Mint reported. “Work on the IPO (initial public offering) is in […]