China’s yuan spikes higher, but stocks tumble

China guided its yuan currency higher on Monday, and offshore it surged against the dollar, spurred by what traders called aggressive intervention by Beijing, although Chinese stocks tumbled again as doubts persisted over policymakers’ intent. Perceived mis-steps by China’s authorities have stoked concerns in global markets that Beijing More...

by Crish | Published 1 year ago
By anik On Sunday, November 29th, 2015
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Don’t let economy slip below 6.5 pct: China’s Xi Jinping tells officials

In the most unambiguous signal yet of a slowdown in China’s economy, President Xi Jinping today ordered officials to ensure that the GDP does not slip below 6.5 per cent, putting for the first time a minimum More...

By anik On Saturday, November 28th, 2015
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Black money: HSBC whistleblower Herve Falciani offers to ‘cooperate’ with India

Claiming that millions of crores worth illicit funds are flowing out of India, HSBC whistleblower Herve Falciani today said he is willing to “cooperate” with the Indian investigative agencies in their black More...

By nhdownyflake On Friday, July 31st, 2015
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Eurozone inflation and unemployment hold steady in July

Inflation in the eurozone held steady in July, as falling energy prices offset rises in industrial goods. The annual inflation rate stayed at 0.2%, according to the flash estimate from the EU’s statistics More...

By nhdownyflake On Friday, July 31st, 2015
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Swiss central bank makes 50bn Swiss franc loss

The soaring value of the Swiss franc against the euro has led Switzerland’s central bank to report a first half loss of 50bn francs (£33bn). The bank, which is owned by the Swiss federal government, said More...

By nhdownyflake On Thursday, July 30th, 2015
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Royal Dutch Shell cuts 6,500 jobs

Oil giant Royal Dutch Shell has announced it has shed 6,500 jobs as part of cost-cutting plans as it seeks to counter falling oil prices. The job cuts comprised part of its $4bn reduction in operating costs. Shell, More...

By nhdownyflake On Thursday, July 30th, 2015
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US economic growth picks up to 2.3%

The US economy grew at an annualised pace of 2.3% in the three months to June, official figures have shown. The figure – the first estimate of growth in the second quarter – followed an upwardly revised More...

By nhdownyflake On Wednesday, July 15th, 2015
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Bank of Canada cuts key interest rate as economy falls into recession

  Bank of Canada Governor Stephen Poloz. The Bank of Canada cut its trend-setting interest rate to 0.5 per cent on Wednesday to help boost an economy that’s in retreat. The central bank said it believes More...

By Joy Mitra On Tuesday, June 23rd, 2015
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Vishal Sikka seeks ‘Bhishma Pitamaha’ Murthy’s guidance to steer growth

  BENGALURU: The 34th annual general meeting (AGM) of Infosys started with a dramatic flourish that had the company’s first non-founder CEO Vishal Sikka touching the feet of its most famous co-founder More...

By Joy Mitra On Tuesday, June 23rd, 2015
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Money market traders’ firm to set Mumbai inter-bank rate

Mumbai: The association of bond dealers, local currency traders and bankers on Monday formed a new firm to fix the Mumbai Inter-Bank Offer Rate (Mibor), in line with a Reserve Bank of India (RBI) panel recommendation More...