Fed to shutter pandemic support asset purchases by end-2022

By Administrator_ India Capital Sands The Federal Reserve will shutter its asset purchases program by the end-2022, according to a Reuters poll, with a few more economists now predicting a rate hike as early as next year, but they pegged new COVID-19 variants as the biggest economic risk. However, Fed chair Jerome Powell said on Wednesday withdrawing monetary policy support was a long way off, with 7.5 million jobs still missing from before the pandemic. Following his testimony, where he also concluded that high inflation would be transitory, the US…

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Saudi Arabia plans spending cuts in 2021 as economy recovers: Report Economic News 

Saudi Arabia plans spending cuts in 2021 as economy recovers

By Administration_ India Capital Sands Saudi Arabia said its spending plans for next year would be expansionary, as it leans more heavily on government-controlled funds to make up for cuts to a finance ministry budget battered by a decline in oil prices and the coronavirus pandemic. The kingdom will stick to its plan to cut spending by 7.3 per cent in 2021 after its deficit widened dramatically this year, according to an annual budget statement released Tuesday. Spending is projected at 990 billion riyals ($264 billion). Revenue is expected to rise…

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India tries to beat the pandemic, the health-startup way!

By Administrator_India Capital Sands As the long-standing COVID-19 pandemic shows no signs of abating, healthy living has assumed massive significance the world over. Now, Indian health tech startups are reaping the benefits of growing awareness among Indians as more take to working out at home. Digital platforms are not only seeing increased traction but are also generating good revenues looking for profitability in this space. Gurugram-based Fittr is growing at a monthly rate of 30 percent with more people working out actively. Sharing its revenue figures, Chief Executive Officer Jitendra…

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