Economic News 

Asia shares bounce as mood shifts, sentiment fickle

By Administrator_India Capital Sands Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week. In the United States, inflation data could provide a scare ahead of testimony by Federal Reserve Chair Jerome Powell on Wednesday and Thursday, where markets will be hypersensitive to any talk of early tapering. The earnings season also kicks off with JP Morgan, Goldman, Citigroup, and Wells…

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Economic News 

Good news for pilgrims! IRCTC to operate ‘Char Dham Yatra’ special train

By Administrator_ India Capital Sands In view of declining cases of coronavirus across the country, the Indian Railways has decided to operate a special train in September covering several top tourist destinations, including Char Dham–Badrinath, Jagannath Puri, Rameshwaram, and Dwarkadhish. After the great popularity and success of the “Shri Ramayana Yatra” train operated on the Ramayana circuit, IRCTC has now launched another very popular pilgrimage circuit “Chardham Yatra” by “Dekho Apna Desh” Deluxe AC Tourist Train. According to a press release, this 16 days tour will start from Delhi Safdarjung…

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Economic News 

Petrol inches closer to Rs 100 in Delhi, Kolkata, check rates in your city

By Administrator_ India Capital Sands Petrol prices saw a rise in prices again by 31 to 39 paise again on July 5, taking it to a historic high. However, the diesel rates remain unchanged. In the last two months, petrol prices increased by 34 times and diesel prices saw a surge in prices 33 times. Delhi and Kolkata were the only cities where petrol and diesel prices remained below Rs 100. In the national capital, petrol price stands at Rs 99.90 a litre and diesel is priced at Rs 89.40…

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Economic News 

Petrol, Diesel Prices Today, June 21, 2021

By Administrator_ India Capital Sands After a day’s pause, fuel prices were again hiked on Friday, pushing rates to fresh all-time record highs, according to a price notification of state-owned fuel retailers. In Delhi, petrol and diesel prices were increased by 29 paise and 27 paise, respectively. With the latest revision in the prices, petrol is now retailing at Rs 97.22 per litre and diesel is selling at Rs 97.97 in the national capital. Likewise, there’s no stopping petrol and diesel prices in Mumbai, which are retailing at Rs 103.36…

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Economic News 

Japan Inflation Gains for the First Time Since March 2020

By Administrator_ India Capital Sands Japan’s inflation edged into positive territory for the first time in 14 months as rising commodity costs fed higher gasoline prices at the pump, according to data that comes before a central bank policy decision later today. Consumer prices excluding fresh food ticked up 0.1% compared with a year earlier, lifted by a 20% jump in gas prices, the ministry of internal affairs reported Friday. Economists had predicted flat prices overall. While even the smallest uptick in inflation is likely to be seen positively by…

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Economic News 

Dollar on tenterhooks as payrolls test looms

By Administrator_ India Capital Sands The U.S. dollar wobbled above major support levels on Thursday, as traders awaited a batch of U.S. economic data that could set the tone at central bank meetings later this month. Investors have bet on the dollar falling as the world recovers from the COVID-19 pandemic, but they have lately grown nervous over whether a surprisingly strong U.S. economic rebound poses a threat to a key assumption that interest rates will stay low for a long time. The mood has kept speculators from adding much…

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Economic News 

Japan ruling party heavyweight calls for $239-billion extra budget

By Administrator_ India Capital Sands Japan’s government is expected to compile an extra budget in October or November, senior ruling party lawmaker Kozo Yamamoto said on Wednesday, calling for spending of around $239 billion to cushion the economic blow from the COVID-19 pandemic. Yamamoto, a heavyweight close to former Prime Minister Shinzo Abe, also urged the Bank of Japan to ramp up asset buying to weaken the yen further and help the export-reliant economy. Yamamoto called for compiling a 26-trillion-yen ($239 billion) extra budget as soon as possible to pull…

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Economic News 

Dollar holds near two-week high, U.S. jobs data eyed for Fed clues

By Administrator_ India Capital Sands The dollar hovered below a two-week high on Thursday, consolidating ahead of a key U.S. jobs report that may provide clues on when the Federal Reserve will dial back monetary stimulus. The greenback has rebounded from a one-month low over the past week, swung by U.S. economic data that has largely supported the case for a rapid recovery from the pandemic, with traders weighing whether a lift in inflation may force the Fed’s hand earlier than policymakers have so far suggested. The dollar index, which measures…

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India, UK decide to wrap up key talks for Free Trade Agreement by year-end Economic News 

India, UK decide to wrap up key talks for Free Trade Agreement by year-end

By Administrator_ India Capital Sands India and the United Kingdom have decided to wrap up key talks on trade issues by the end of 2021, expediting negotiations for a proposed free trade agreement (FTA) between both nations in the future. Bilateral trade and investment ties were a major part of the talks between Prime Minister Narendra Modi and his British counterpart Boris Johnson during the digital summit held on May 5. The proposed FTA is a key part of the Enhanced Trade Partnership (ETP) launched by both nations that hope to galvanize bilateral business…

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Economic News 

Dollar near multi-week lows before Fed, bitcoin reclaims $54,000

By Administrator_ India Capital Sands The dollar hovered near multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields, as investors consolidated positions ahead of the Federal Reserve’s policy decision this week. The safe-haven greenback was also out of favor after world stocks started the week hitting a record high, amid increasing investor confidence in a rapid global recovery from the pandemic. In cryptocurrencies, bitcoin traded around $54,000 following a 10% surge on Monday, driven by reports that JPMorgan Chase  is planning to offer a managed bitcoin fund.…

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