China's central bank raised its daily guidance rate for the yuan by the most in nearly 15 months on August 28, its latest move to put a floor under the currency as a trade war with the United States grinds on.But the near 0.7 percent jump in the official mid-point fixing sparked more corporate demand for cheaper dollars, capping the yuan's gains in the spot market.The People's Bank of China (PBOC) confirmed market suspicions on Friday by announcing it had started changing the way it calculates the mid-point earlier in August, a sign authorities are wary of letting the yuan weaken further after a record 10 straight weeks of losses.Close But market watchers say the yuan will come under ongoing depreciation pressure as the Sino-US trade battle deepens and China continues to ease policy to support its cooling economy. related news Hong Kong leader Lam heads for Beijing as pressure mounts at home Congressional panel ask Google, Apple if apps like TikTok disclose non-US ties US … [Read more...] about China raises yuan mid-point most in 15 months, spurs dollar buying
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15-20 kg onions stolen from woman vendor’s pushcart in Hyderabad
About 15-20 kg of onions, whose prices have skyrocketed, were allegedly stolen from a woman vendor's pushcart with the act caught on camera, police said on Saturday.The incident happened on the intervening night of Thursday and Friday, and the woman found the onions missing from her pushcart on Friday morning, police said.However, no case was registered as the woman did not file any complaint, Chikkadpally Police Station Inspector P Shiva Shankar Rao said.Close A CCTV footage showed an unidentified man parking his two-wheeler and then opening the gunny bag covers kept on the pushcart and later putting the onions from a basket into his bag and later driving away.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE. … [Read more...] about 15-20 kg onions stolen from woman vendor’s pushcart in Hyderabad
EPL: Manchester United have fashioned a complete striker in Marcus Rashford
Marcus Rashford has always had the tools to become a world-class forward. Now he has added a clinical touch to his searing pace and box of tricks. The 22-year-old already has 13 goals for United this season -- equalling his best-ever return for the club in a single campaign and is the undisputed leader of the team's attack.Just weeks ago Rashford was struggling for goals in Ole Gunnar Solskjaer's misfiring team, finding the net just once between the opening day of the season and the match against Liverpool on October 20.But then things clicked for the former United trainee and he has scored regularly for club and country, including three in his past two appearances, against Tottenham and defending champions Manchester City.Close His goals have lifted United to fifth in the table, five points behind fourth-placed Chelsea, after an unbeaten run of five Premier League games, with Everton to come at home on December 15. related news EPL: Breaking down the reasons behind … [Read more...] about EPL: Manchester United have fashioned a complete striker in Marcus Rashford
Are the RBI’s repo rate cuts enough to reinforce GDP growth?
Rahul AgarwalIn its latest Monetary Policy Committee (MPC) meeting on December 5, the Reserve Bank of India kept key rates unchanged at 5.15 per cent (lowest in nine years, after five straight cuts with a cumulative 135 bps reduction this calendar year, to boost the country’s sagging economy.RBI retained its 'accommodative' policy stance, which suggests that this is a pause rather than an end to the loosening cycle, and it still has room for a rate cut. Core inflation, which excludes energy and food items, slid beyond a seven-year low of 3.47 per cent, which clearly indicates that there is hardly any demand for non-food items in the market.Close Usually, a rate cut helps revive economic growth as it allows retail customers to avail cheaper loans and works like a big booster for the large industrial sector, who will be able to avail bulk loans at lower interest rates. related news Reliance forms a base, recommend delta appreciating based … [Read more...] about Are the RBI’s repo rate cuts enough to reinforce GDP growth?
US-China trade deal cuts tariffs for Beijing promise of big farm purchases
The United States and China cooled their trade war on November 13 and announced "Phase one" agreement that reduces some US tariffs in exchange for what officials said would be a big jump in Chinese purchases of American farm products and other goods.Beijing has agreed to import at least $200 billion in additional US goods and services over the next two years on top of the amount it purchased in 2017, the top US trade negotiator said on November 13.If the purchases are made, they would represent a huge jump in US exports to China. China bought $130 billion in American goods in 2017 before the trade war began, and $56 billion in services, data from the US Bureau of Economic Analysis show.Close In return, the US would suspend tariffs on Chinese goods due to go into effect on December 15 and reduce others, officials said. The 86-page agreement is due to be signed the first week of January in Washington by principal negotiators. related news Hong Kong leader Lam … [Read more...] about US-China trade deal cuts tariffs for Beijing promise of big farm purchases
