Oil prices surged to multi-week highs today amid OPEC hinted at optimism over its deal to curb oil production. WTI crude April futures were trading at $54.50 per barrel (1:30AM) and yesterday the previous month contract expired at the highest level since Jan, 3, hitting a 19-month high in intraday trade. OPEC secretary general said that January data showed that the conformity from member countries participating in the output cut had been above 90% and oil inventories would further slide this year.However, market participants are closely watching the release of inventory numbers from the US, to be released by the AMI to be followed tomorrow by government data. Bloomberg survey of eight analysts expects crude stock to rise by 3.325 million barrel at the end of this week. A stronger dollar is also putting some pressure on prices but apparently not enough to keep the current momentum of prices in check.In the days ahead, oil prices are likely to break out of their recent range and head … [Read more...] about Is Oil headed higher?
Wall Street ended higher yesterday amid hopes that US President Donald Trump would elaborate more on his spending and tax plans, in his speech to the Congress scheduled later today. The Dow Jones Industrial Average yesterday ended up by 15 points to 20,837 and closed at a record high for a 12th straight session, its longest streak since 1987. US equities markets have rallied since Trumps election victory in November, on the hopes for further tax reform, looser regulation and fiscal stimulus plans. … [Read more...] about Dow Heading To More Record Highs?
While the full extent of the harm done by Facebook India is yet to be determined, event so far highlights the urgent and serious nature of these demands. “We believe that taking decisive action to address these issues isn’t just the right thing to do for everyone harmed in India,” the letter added. … [Read more...] about Civil rights organisations write to Facebook CEO Zuckerberg to address hate content
Manish Chopra, director and head of partnerships at Facebook India said India is the first country where a separate Reels tab has been enabled, due to the "interest" and "creativity" seen, according to a report by The Economic Times. The company might even integrate more tools into Reels feature. … [Read more...] about Instagram rolls out separate Reels tab for Indian users
The first and foremost effect of the Yes Bank crisis was on Life Insurance Corporation of India. The insurer has usually seen a high amount of revenue collection coming in the month of March every year. The premiums usually flow in these days as online payments. With the automation of processes, the bank for NACH debit and cheque clearances for LIC was Yes Bank which is expected to affect the collections for the corporation for the month of March for Q4 ‘20. … [Read more...] about How the Yes Bank crisis has caused a domino effect