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Elon Musk says X could soon receive payment licenses in New York, California Elon Musk said on Wednesday that his social media platform X could soon receive approval for a money transmitter license in New York, putting the platform a step closer to offering payment features. While speaking at the Morgan Stanley technology, media and telecom conference, Musk also said X could receive its license in California in the next month or so, while getting the New York approval could be "a few months away". Since acquiring the company formerly known as Twitter i...
Elon Musk says X could soon receive payment licenses in New York, California
Elon Musk says X could soon receive payment licenses in New York, California
Source: Reuters
2024-03-07 09:02:48 am
Indian-American ex-USAID head named to New York Fed Board of Directors Dr Rajiv Shah, the Indian-American president of Rockefeller Foundation, has been named to the Board of Directors of the Federal Reserve Bank of New York. The Board of Governors of the Federal Reserve System appointed Shah as a Class C director for a three-year term ending December 31, 2026. Class C directors on the New York Fed’s Board of Directors represent the interests of the public, the Federal Reserve Bank of New York said in a statement released on Friday. Shah has led Th...
Indian-American ex-USAID head named to New York Fed Board of Directors
Indian-American ex-USAID head named to New York Fed Board of Directors
Source: IANS
2024-01-06 12:24:03 pm
US dollar gains but set for worst monthly loss in a year, euro falls The dollar gained on Thursday as investors took profits on bets the currency would weaken further and shrugged off data showing signs the U.S. economy is slowing. Thursday's economic data suggested that the Federal Reserve is likely done raising interest rates and may start easing by the middle of next year, typically a dollar-negative factor. Euro weakness after a soft euro zone inflation report also partly helped boost the greenback, analysts said. The dollar index, which measu...
US dollar gains but set for worst monthly loss in a year, euro falls
US dollar gains but set for worst monthly loss in a year, euro falls
Source: Reuters
2023-12-01 08:52:51 am
Nitinn R. Miranni, first Indian artist to perform at the Statue of Liberty in NYC Award-winning host and comedian Nitinn R. Miranni, becomes the first Indian artist to perform at the Statue of Liberty In New York. On November 19th, 2023 he took to the stage to host the Elite Magazine 50 Most Influential Indians. The event was attended by the who’s who of the Asian Community in the United States and included names such as Gaur Gopal Das, Chef Vikas Khanna, Seema Taparia, Elli Evram, Sarah Todd, and NYC Deputy Commissioner Dilip Kumar Chauhan to name a few. Havin...
Nitinn R. Miranni, first Indian artist to perform at the Statue of Liberty in NYC
Nitinn R. Miranni, first Indian artist to perform at the Statue of Liberty in NYC
Source: IANS
2023-11-28 05:39:06 pm
Americans may be forced to finally pull back on their post-Covid spending spree Some experts think the combination of high housing costs, rising credit card debt and shrinking savings could mean the end of post-Covid splurges, maybe even as soon as this year’s holiday shopping season, the media reported. “Headwinds are going to eventually force the consumer to buckle, and I think that we’re going to see consumers have to pull back on spending for a quarter or two,” CNN quoted Erik Lundh, a principal economist at The Conference Board, as saying....
Americans may be forced to finally pull back on their post-Covid spending spree
Americans may be forced to finally pull back on their post-Covid spending spree
Source: IANS
2023-11-27 01:54:09 pm
India`s RMZ to invest $7 billion to expand real estate business Indian office landlord RMZ Corp said on Wednesday it will invest $7 billion to diversify into four new segments, in a bid to more than double the value of its rent-yielding real estate assets to $40 billion by 2029. The privately-held firm, whose rent-yielding assets are currently valued at $15 billion, told Reuters that it will fund the investment through a combination of internal accruals and funds raised from existing and new investors as it expands into ultra luxury residential living,...
India`s RMZ to invest $7 billion to expand real estate business
India`s RMZ to invest $7 billion to expand real estate business
Source: Reuters
2023-11-23 09:40:08 am
Yen`s fall toward multi-decade lows keeps markets on intervention watch The battered yen was stuck near a three-decade low against the dollar on Tuesday, struggling to find a floor as the Bank of Japan's (BOJ) ultra-easy monetary policy settings remained at odds with the prospect of higher-for-longer rates elsewhere. The Japanese currency slumped to a 15-year low of 162.38 per euro in early Asia trade and slid to a roughly three-month trough of 186.25 per British pound. Against the dollar, the yen last stood at 151.72, languishing near a one-year low of...
Yen`s fall toward multi-decade lows keeps markets on intervention watch
Yen`s fall toward multi-decade lows keeps markets on intervention watch
Source: Reuters
2023-11-14 09:41:20 am
Cocoa prices at highest level since 1978 Cocoa prices topped $4,000 per tonne in New York on Friday, the highest since 1978, as the outlook of poor crop harvests across West Africa has been a bullish factor pushing prices higher this week. There is also an increasing risk that El Nino-induced weather disturbances could cause the global cocoa market to sink into a deficit for the third year, Zero Hedge reported.  According to Bloomberg, harvests in Ivory Coast and Ghana - some of the world's largest cocoa producers - a...
Cocoa prices at highest level since 1978
Cocoa prices at highest level since 1978
Source: IANS
2023-11-12 09:54:22 am
Gold lacks momentum as spotlight shifts to Jerome Powell`s speech Gold struggled for momentum on Wednesday as investors looked for more clarity on interest rates from the Federal Reserve chief after mixed messages from a host of U.S. central bank policymakers. Spot gold was unchanged at $1,968.11 per ounce by 0247 GMT after hitting its lowest since Oct. 24 on Tuesday. U.S. gold futures were little changed at $1,974.70. "The geopolitical risk premium is getting digested out and as central banks turned away from rate hikes, it is ultimately pushing...
Gold lacks momentum as spotlight shifts to Jerome Powell`s speech
Gold lacks momentum as spotlight shifts to Jerome Powell`s speech
Source: Reuters
2023-11-08 09:06:07 am
Wall Street rallies 1%, yen gains vs dollar; talk of BOJ policy tweak Global stock indexes advanced on Monday, with U.S. stocks rallying more than 1% after recent sharp declines, while the yen rose to a two-week high against the dollar after a report that the Bank of Japan is considering tweaking its yield curve control policy. Oil prices settled more than 3% lower, partly as fears eased about the Israel-Hamas war disrupting supply from the region. The Nikkei report, that the BOJ is considering adjusting its yield curve control policy to allow the 10-year...
Wall Street rallies 1%, yen gains vs dollar; talk of BOJ policy tweak
Wall Street rallies 1%, yen gains vs dollar; talk of BOJ policy tweak
Source: Reuters
2023-10-31 08:56:44 am
Reliance Foundation has reached out to 70 mn people in India: Nita Ambani Reliance Foundation has reached out to 70 million people in India and it is present in all the states of the country, Nita Mukesh Ambani said in an interview. “For me, I think a nation’s development depends on women's empowerment, the well-being of its children and transformation through sports. I think these three aspects are key to a developed nation. With the Bill and Melinda Gates Foundation, we are offering employment to one million women to ensure that they get income...
Reliance Foundation has reached out to 70 mn people in India: Nita Ambani
Reliance Foundation has reached out to 70 mn people in India: Nita Ambani
Source: IANS
2023-10-27 12:54:11 pm
Global hedge funds are boosting their presence in the long-shunned Indian market Global hedge funds are making a beeline to set up shop in India, a market long-shunned by international investors, tempted both by its growing depth and liquidity and its emergence as an alternative to investing in China. Singapore-based multi-strategy hedge fund Dymon Asia Capital and Citadel Securities are among funds and securities brokers entering a market they had smaller exposure to in the past, worried about tax issues and their ability to hedge investments through short-selling. ...
Global hedge funds are boosting their presence in the long-shunned Indian market
Global hedge funds are boosting their presence in the long-shunned Indian market
Source: Reuters
2023-10-27 12:15:54 pm
Gold scales 3-month peak as Middle East conflict lifts demand Gold prices hit a three-month high on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve's rate hikes are nearing an end.Spot gold was up 0.2% at $1,978.17 per ounce by 0332 GMT, after hitting its highest since July 20. U.S. gold futures added 0.5% to $1,990.50.Israeli Defence Minister Yoav Gallant told troops gathered at the Gaza border on Thursday that they would soon see the Palestinian enclave ...
Gold scales 3-month peak as Middle East conflict lifts demand
Gold scales 3-month peak as Middle East conflict lifts demand
Source: Reuters
2023-10-20 09:57:19 am
Gold firms on Middle East conflict; spotlight on Jerome Powell speech Gold prices hovered near a 2-1/2-month high on Thursday as escalating Middle East turmoil buoyed demand for the safe-haven asset, while investors awaited U.S. Federal Reserve Chair Jerome Powell's speech due later in the day.Spot gold was steady at $1,947.45 per ounce by 0318 GMT after hitting its highest since Aug. 1 on Tuesday. U.S. gold futures eased 0.4% to $1,959.70."Gold's resilience in the face of rising yields and a rebounding U.S. dollar, especially over the past several days, have r...
Gold firms on Middle East conflict; spotlight on Jerome Powell speech
Gold firms on Middle East conflict; spotlight on Jerome Powell speech
Source: Reuters
2023-10-19 09:14:02 am
India rupee to struggle on US yield concerns; odds of record low seen rising The Indian rupee is expected to be under pressure on Thursday after long-maturity U.S. Treasury yields climbed to multi-year highs on expectations that rates will remain high for long.Non-deliverable forwards indicate the rupee will open at around 83.26-83.27 to the U.S. dollar compared with 83.2575 in the previous session and within a whisker of the 83.29 record low.The Reserve Bank of India has over the last several days intervened to prevent the rupee from falling to a lifetime low."Lookin...
India rupee to struggle on US yield concerns; odds of record low seen rising
India rupee to struggle on US yield concerns; odds of record low seen rising
Source: Reuters
2023-10-19 09:00:17 am
India`s Wipro says Q3 IT service rev to fall further on weak client demand India's Wipro on Wednesday reported a surprise dip in second-quarter revenue and warned a fall in its key IT services business would worsen in the current quarter as clients cut spending amid ongoing global economic uncertainties.U.S.-listed shares of India's fourth largest IT services provider dropped 3.7% in pre-market trading in New York.The $245 billion Indian IT sector has been contending with soft demand for the last three quarters as clients delayed deal-making decisions.A revival of d...
India`s Wipro says Q3 IT service rev to fall further on weak client demand
India`s Wipro says Q3 IT service rev to fall further on weak client demand
Source: Reuters
2023-10-18 04:46:17 pm
Rupee may not respond to higher oil prices on RBI intervention bets The Indian rupee is likely to open little changed on Wednesday on expectations of the Reserve Bank of India keeping a check on the currency's slip amid a rise in oil prices and U.S. Treasury yields.Non-deliverable forwards indicate the rupee will open around Tuesday's level of 83.2575. Oil prices jumped in Asia with the Brent crude contract racing past $92 per barrel following a flare up in the Middle East conflict. Brent is now up nearly 9% since the breakout of the conflict.The 2-year U.S. ...
Rupee may not respond to higher oil prices on RBI intervention bets
Rupee may not respond to higher oil prices on RBI intervention bets
Source: Reuters
2023-10-18 08:57:12 am
Dollar buoyed by safe-haven bids, rate jitters The dollar was on the front foot on Monday in cautious trade as tensions in the Middle East escalated, while investors awaited a speech by Federal Reserve Chair Jerome Powell later this week for further clues on the U.S. central bank's rate outlook.The Israeli shekel fell to more than an eight-year low of 3.9900 per dollar in early Asia trade, after the country's Prime Minister Benjamin Netanyahu vowed on Sunday to "demolish Hamas" as his troops prepared to move into the Gaza Strip in pursuit...
Dollar buoyed by safe-haven bids, rate jitters
Dollar buoyed by safe-haven bids, rate jitters
Source: Reuters
2023-10-16 08:58:24 am
Gold listless as investors await US CPI data for Fed policy guidance Gold prices settled into a holding pattern on Tuesday as investors awaited U.S. inflation figures that could provide an updated view on interest rates after the Federal Reserve kept the door open for further policy tightening.Spot gold was flat at $1,922.30 per ounce by 0306 GMT, while U.S. gold futures eased 0.1% to $1,946.10.Market activity is likely to be broadly subdued until the U.S. Consumer Price Index (CPI) data is out on Wednesday, which could provide guidance on U.S. interest rates ...
Gold listless as investors await US CPI data for Fed policy guidance
Gold listless as investors await US CPI data for Fed policy guidance
Source: Reuters
2023-09-12 09:46:21am
Stocks steady, dollar catches breath as traders eye US CPI Asian stock markets nudged sideways on Tuesday while the dollar took a breather, its recent gains chastened by resistance from central banks in China and Japan and by traders waiting on U.S. inflation data to signal that interest rates may have peaked.The yen notched its best day against the dollar in two months overnight, after Bank of Japan Governor Kazuo Ueda said policymakers might have enough economic information by year's end to determine that short-term rates will need to rise.The yuan...
Stocks steady, dollar catches breath as traders eye US CPI
Stocks steady, dollar catches breath as traders eye US CPI
Source: Reuters
2023-09-12 08:53:41am