60 ringgit to dollar

(Photo by Chung Sung-Jun/Getty Images) The dollar jumped on Friday after data showed that employers added significantly more jobs in January than economists expected, potentially giving the Federal Reserve more leeway to keep hiking interest rates. The Labor Department's closely watched employment report showed that nonfarm payrolls surged by 517,000 jobs last month. Data for December was revised higher to show 260,000 jobs added instead of the previously reported 223,000. Average hourly earnings rose 0.3% after gaining 0.4% in December. That lowered the year-on-year increase in wages to 4.4% from 4.8% in December. Economists polled by Reuters had forecast payrolls increasing by 185,000 jobs and wages advancing 4.3% year-on-year. The dollar was last up 0.55% on the day against a basket of currencies at 102.35. The euro fell 0.53% to $1.08545. The dollar gained 0.80% against the Japanese yen to 129.74. … [Read more...] about Dollar jumps as employers add more jobs than expected in January

(CTN News) – With officials at the European Central Bank and the Bank of England stating that inflationary pressures in their respective economies have become more controllable, the euro and pound fell versus the dollar on Friday. In other markets, the dollar generally rose due to the decrease in its Atlantic rivals, restoring the week’s losses. The pound dropped 1.2% in the previous session, its worst daily loss in a month, before dropping another 0.15% to a more than two-week low of $1.2206 in early Asian trading. The euro fell by 0.7% on Thursday, falling farther from its 10-month high of $1.1034. It last traded 0.16% down at $1.0893. As anticipated, the ECB and the BoE increased interest rates by 50 basis points on Thursday, with the latter indicating that the struggle against rising inflation was beginning to win ground. President Christine Lagarde recognized that the prognosis for GDP and inflation in the eurozone had grown less concerning, even if the ECB hinted … [Read more...] about U.S. Dollar Climbs as Central Banks See Inflation Risks Unwind

Representative image A new research report released by the C40 Cities -- a network of the world’s megacities committed to addressing climate change – have revealed that planned coal expansion will cause a 60 percent rise in premature deaths due to coal air pollution in Indian metro cities such as Delhi, Mumbai, and Kolkata. As per the C40 report, the current proposed coal expansion by 64 GW around Delhi, Mumbai, Kolkata, Bengaluru, and Chennai could cause 52,700 premature deaths, 31,300 preterm births, and 5,700 new asthma cases among children, over just a decade. India is the second-largest coal user in the world, with 55 percent of the country’s coal-generated electricity coming from areas within 500 km of these five megacities. Air pollution generated by coal-fired power plants travels long distances and all of the coal plants within a wider geographical area put urban residents’ health at risk, especially the young, the elderly, and pregnant women. Also read: … [Read more...] about India’s proposed coal expansion could cause 60% more premature deaths due to pollution: C40 Cities report

(Representative image) Goods and Services Tax (GST) return filings have risen from 60 percent almost two years back to over 85 percent now, said V Rama Mathew, Member- Tax policy at the Central Board of Indirect Taxes and Customs (CBIC). “Two years back, we would be happy if we got 60 percent filings, but now they have risen to over 85 percent GSTR (GST Return) filings,” Mathew said at a post-budget conference, analysing tax-related proposals, organised by the Associated Chambers of Commerce. Two days ago, the Ministry of Finance, in a statement, said GST collections in January surged to over Rs 1.55 lakh crore, the second highest ever. “Over the last year, various efforts have been made to increase the tax base and improve compliance. The percentage of filing of GST returns (GSTR-3B) and of the statement of invoices (GSTR-1), till the end of the month, has improved significantly over years,” the ministry said in a statement. Ease of doing business Read More … [Read more...] about GST return filings up from 60 percent two years ago to 85 percent

Share to Twitter Share to Linkedin In a letter to the Chair of the Federal Reserve, Congressman Bill Foster (D-IL), Chair of the AI Task Force and Congressional Blockchain Caucus Co-Chair, along with Congressman French Hill (R-AR), Ranking Member on the AI and Fintech Task Force sent a letter this week to the Federal Reserve asking to start looking at a U.S. Dollar Digital Currency. Former Chair of the FDIC, Sheila Bair, has been talking about this issue for some time. Since she was ahead of the curve in calling the Global Financial Crisis with her concern on subprime mortgages, it makes sense that we start listening to her on her latest concern for the U.S. At the Senate Hearing last week on September 25 called “Facilitating Faster Payments in the U.S.”, the former Chair of the FDIC, Sheila Bair, was asked by Senator Cortez Masto (D-NV) why in her testimony she recommended the Fed look into central bank digital currencies, including cryptocurrencies run on … [Read more...] about As Congress Asks The Fed To Look Into A Digital Dollar, Former FDIC Chair Sheila Bair Is Ahead Of The Curve … Again

Share to Twitter Share to Linkedin Topline Here’s a timeline of how Indian billionaire Gautam Adani has seen his fortune shrink by $64.7 billion in just 10 days as his group of companies battles allegations of stock manipulation and fraud from U.S.-based activist investor Hindenburg Research. Timeline January 24, 2023 Hindenburg Research discloses a short position against Adani Group’s listed companies and publishes a report that accuses the Indian conglomerate of engaging in “brazen stock manipulation and accounting fraud scheme over the course of decades.” January 25, 2023 The Adani Group’s CFO Jugeshinder Singh dismisses the allegations in a video address calling them “a malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India’s highest courts.” Adani’s fortune dips from $126.4 billion to $120 billion as the Indian stock market responds negatively … [Read more...] about How Gautam Adani Lost More Than $60 Billion In Just 10 Days—And His Ranking As Asia’s Richest

Govt could use the additional headroom available from subsidy savings on ramping up capex in Budget 2023. ICICI Direct's currency report on GBPINR The pound depreciated by 1.20% yesterday after the Bank of England raised its interest rate by 50 basis points to 4.00% in its 10th straight hike while hinting that rates were near their peak. Further, the sterling was pressurised by a strong dollar and sharp drop in UK 10 year bond yields. The pound is expected to trade with a negative bias for the day amid strong dollar and sharp decline in UK 10 year bond yields. Further, market participants will closely watch services PMI and composite PMI data from the UK to gauge economic health of the country. GBPUSD is likely to break the key support level of 1.2180 to continue its downward trend towards the level of 1.2120. GBPINR (February) is expected to drop towards the level of 100.90. Intra-day strategy GBPINR Feb futures contract (NSE) Sell GBPINR in the range … [Read more...] about Sell GBPINR; target of : 100.90 : ICICI Direct

Republican State Treasurer Todd Russ of Oklahoma sent a letter to over 100 financial institutions to determine if their Environmental, Social and Governance (ESG) policies disqualify them from working with the Oklahoma government, Russ’ office announced Wednesday. Companies will have until March 31 to respond to a series of 19 questions that the state of Oklahoma will use to determine if the company is violating Oklahoma law by engaging in a boycott of energy companies, according to the letter obtained by the Daily Caller News Foundation. Russ specifically mentioned BlackRock, the world’s largest asset manager and frequent target of GOP criticism for its consistent support of ESG investing, which Republican critics allege violates its fiduciary duty to its clients, in a statement to the DCNF. “This list is crucial to provide accountability for our government entities, including organizations responsible for pension funds such as the Oklahoma Public Employees Retirement … [Read more...] about Oklahoma Treasurer Presses Financial Institutions To Say Whether They’re Boycotting Energy Firms

Share to Twitter Share to Linkedin Three African youth-led Agritech businesses— Kenya’s DigiCow, Botswana’s Brastorne Enterprises and Nigeria’s ThriveAgric— will receive mentorship and $1.5 million in grants to help them to aggressively expand solutions to long-standing challenges faced by smallholder farmers across the continent. As winners of the 2022 AYuTe Africa Challenge — an initiative launched by international development organization Heifer International— they will be able to scale up innovations that hold the potential to disrupt agriculture on the continent and reposition the sector as a rewarding career path for the youth. This is according to Adesuwa Ifedi, senior vice president of Africa Programs at Heifer International , who says that the agritech accelerator sought innovations that were “poised to provide the positive disruption” that farmers urgently need. And there couldn’t be a better time. Climate change induced prolonged drought … [Read more...] about Three Youth-Led African Agritech Businesses Receive Investment To Help Scale Up African Agriculture

Share to Twitter Share to Linkedin Despite dire warnings earlier in the year that U.S. wine sales had decreased in 2021, the recently released Gomberg & Fredrikson report, based on government tax paid data, shows wine dollar sales up a surprising 16.8% in 2021 over 2020. Total wine sales, including domestic and imported wine were $78.4 billion, compared to the previous year’s figure of $67.3 billion. Yet the reasons behind these increases suggest the wine industry still needs to focus on being more innovative and reaching out to new wine consumers. Fortunately, some of the most popular wine categories of 2021 point the ways to hot trends to consider capitalizing on for the remainder of 2022. According to Jon Moramarco, Editor & Partner with Gomberg & Fredrikson, as well as Managing Partner for bw166 – both well-known wine research firms – “The wine category performed well in 2021, but not great. A headline increase of 16.8% in consumer spending … [Read more...] about U.S. Wine Market Sales Up 16.8% In 2021, Pointing Towards Hot Wine Trends In 2022