Capital Gain

US Fed holds rates at zero, projects two hikes by the end of 2023

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Federal Reserve officials held interest rates near zero but signaled they expect two increases by the end of 2023, pulling forward the date of liftoff as the economy recovers. “Progress on vaccinations has reduced the spread of Covid-19 in the United States,” the Federal Open Market Committee said in a […]

India gets wide support on TRIPS waiver for Covid-19 vaccines at G-7 meet

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India is a “natural ally” of the G-7 nations in defending the shared values from a host of threats stemming from authoritarianism, terrorism, violent extremism, and economic coercion, Prime Minister Narendra Modi said at an outreach session of the summit in Cornwall, UK, on Sunday. He said open societies were […]

US announces $57 mn aid for TB treatment in seven high-burden countries

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The United States on Friday announced a USD 57 million aid for efforts against tuberculosis in seven high-burden countries, including India. Other countries for which the aid is being given are Bangladesh, Indonesia, the Philippines, South Africa, Tajikistan and Ukraine. Designed in collaboration […]

Biden proposes $2 trillion ‘once-in-a-generation’ investment in US economy

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President Joe Biden on Wednesday called for a sweeping use of government power to reshape the world’s largest economy and counter China’s rise in a $2 trillion-plus proposal that has been met with swift political resistance. Biden’s proposal would put corporate America on the hook for the tab for projects […]

Fed sees growth surge, above-target inflation in 2021; no change on rates

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The Federal Reserve on Wednesday projected a rapid jump in US economic growth and inflation this year as the Covid-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come. The US central bank now sees the economy growing 6.5% this […]

Cryptocurrency inflows hit record high of $4.2 billion, CoinShares says

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By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Inflows into cryptocurrency funds and products have already hit a record $4.2 billion for the first quarter, reflecting growing institutional investor interest, CoinShares data showed. The previous high for crypto inflows was $3.9 billion in the fourth quarter […]

Jerome Powell signals Fed to keep buying bonds even as outlook improves

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Federal Reserve Chairman Jerome Powell signaled that the central bank was nowhere close to pulling back on its support for the pandemic-damaged US economy even as he voiced expectations for a return to more normal, improved activity later this year. “The economy is a long way from our employment and […]

Triggering alarm: Reserve Bank of India’s lack of support pushes up yields

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The bond market is not in a mood to reason with the Reserve Bank of India (RBI) on keeping yields low. The 10-year bond yields continued to rise for the fourth straight session to close at 6.202 per cent from its previous close of 6.135 per cent. The yield was […]

Musk-fuelled bitcoin surge triggers cryptocurrency exchange glitches

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Major cryptocurrency exchanges experienced technical issues on Monday as trading volumes soared after billionaire Elon Musk’s Tesla Inc revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment. The electric-vehicle company’s move marked the latest step toward mainstream acceptance of bitcoin, sending […]

Biden launches sweeping Covid-19 changes on first full day in White House

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US President Joe Biden moved swiftly on his first full day in the White House on Thursday to fight the Covid-19 pandemic, his top priority as he turns the page on four years of Donald Trump’s tumultuous leadership. The Biden administration is aiming at a coordinated federal coronavirus response to […]