November 2020 - DigitalMedia

‘Q2 GDP looks much better but no guarantee of improvement unless government spends more’

30Nov

By Administrator_IndiaNo Comments

Economy

‘Q2 GDP looks much better but no guarantee of improvement unless government spends more’

By Administrator_India Capital Sands The Indian economy contracted 7.50 percent in the second quarter of this financial year against a decline of 23.90 percent in the first quarter. Technically, the country is in a recession following two straight quarters of contraction but the slowdown is gradually easing. The gross domestic product (GDP) growth is at an 11-year low, compared to 4.20 percent in 2019-20 and an expansion of 6.10 percent in 2018-19. It is to be understood that the slowdown in growth accentuated and converted itself into a recession, with the pandemic and the lockdown and the demand destruction that followed. A return to normalcy was expected as soon as the situation improved, which was reflected in the slowdown in the sluggishness seen in the September quarter ...

WHAT TO LOOK FOR IN A FOREX TECHNOLOGY PROVIDER

28Nov

By Administrator_IndiaNo Comments

Business

WHAT TO LOOK FOR IN A FOREX TECHNOLOGY PROVIDER

The online trading industry is not what it used to be. In fact, many would argue that the arena has entirely changed in recent years. Europe in particular has seen a severe tightening in regulation which has dramatically forced brokers to change the way they approach their mode of operation. At the same time, banks and Payment Service Providers have toughened their positions with regards to Forex, following a string of notoriously fraudulent businesses who made a bad name for the industry. In today’s market, finding the best jurisdiction, the most flexible PSP, and the most welcoming bank to open an account in, is becoming increasingly difficult. Of course, you can always take the crooked path and get yourself registered in some godforsaken pacific island, but that’s almost certain to l...

India Inc feels the rising pressure to serve up jobs for locals

27Nov

By Administrator_IndiaNo Comments

India

India Inc feels the rising pressure to serve up jobs for locals

By Administrator_India Capital Sands NEW DELHI : In a large industrial park in Haryana’s Bahadurgarh, a supplier of zinc and aluminium die cast parts runs a busy plant. The company’s 150 staffers produce, polish and pack parts of security locks, sanitary and decorative hardware. Only about two per cent of the workers are native to Haryana. Why are so few locals employed by the company? The company’s owner, who didn’t want to be identified because labour inspectors would come knocking, listed many reasons: workers from the state are inflexible; they don;t want to do overtime, and at the drop of a hat, they can create chaos, demand more money, fight. Employing a large number of migrants on the factory floor has its drawbacks too but the industrialist said he had littl...

Indian markets seen under pressure on global cues, F&O expiry

26Nov

By Administrator_IndiaNo Comments

Stock Market

Indian markets seen under pressure on global cues, F&O expiry

By Administrator_India Capital Sands MUMBAI: Indian stock markets may see a subdued start on Thursday given mixed global cues and because of the expiry of the November F&O series. SGX Nifty traded 0.1% lower in early deals today, indicating a gap-down opening for India's benchmark indices. On Wednesday, the Sensex ended at 43,828.10, down 694.92 points, or 1.56%, while the Nifty50 index closed at 12,858.40, down 196.75 points, or 1.51% lower. Asian shares fell marginally on Thursday as the rally in global equities took a breather, with investors switching their focus from vaccine hopes to disappointing US jobs data and new pandemic-induced lockdowns. The US Labor Department said 7,78,000 people filed for unemployment benefits for the first time last w...

Gold drops to 4-month low on Covid vaccine hope, signs of economic recovery

25Nov

By Administrator_IndiaNo Comments

Commodity

Gold drops to 4-month low on Covid vaccine hope, signs of economic recovery

By Administrator_India Capital Sands Gold fell to a four-month low as growing optimism over a coronavirus vaccine and signs of a increasing momentum in US economic growth stifled demand for the metal as a haven. Bullion extended last week’s loss after AstraZeneca said its vaccine prevented most people from developing Covid-19, marking another promising development in the quest to end the pandemic US business activity powered ahead in November at the fastest pace since March 2015, IHS Markit figures Monday showed. The dollar erased losses after the report. Gold prices have posted two straight weekly declines and holdings in exchange-traded funds backed by the metal have slipped as hopes for a virus vaccine buoyed markets and curbed demand for haven assets. Improving US econom...

Oil up on Vaccine Positivity, U.S. Electoral Transition Certainty

24Nov

By Administrator_IndiaNo Comments

Commodity

Oil up on Vaccine Positivity, U.S. Electoral Transition Certainty

By Administrator_India Capital Sands Oil was up on Tuesday morning in Asia as a rollout of at least one COVID-19 vaccine within the next month looks increasingly certain, promising increased demand in the new year. Also, the U.S. presidential transition is finally underway, offering political certainty. Brent oil futures rose 0.83% to $46.42 by 04:01 AM GMT and WTI futures jumped 0.91% to $43.45. Oil has reached its highest price since March on the back of the likelihood of a vaccine being rolled out within the next month. There are currently three viable vaccines, with AstraZeneca PLC adding its candidate to those of Pfizer Inc and Moderna Inc . The U.S. has said that it will hopefully begin a vaccination program by Dec. 12. Investors are looking toward a strong build in ...

23Nov

By Administrator_IndiaNo Comments

Forex Business

Want to Start a Forex Brokerage?

Here is a scholarly research article to give you information that may help you make that decision. Some of the questions are: What is the best location to form a corporation to operate a new Forex business? Where should I get the license? We should say up front that we assist clients in obtaining licenses, including Forex licenses. We have formed literally tens of thousands of corporations worldwide for our clients and have been in business since 1906. So, once you get the information the next step is to pick up the phone and call a representative. That being said, we will list five separate categories of jurisdictions and label them A through E. We will consider how difficult it is to obtain a license as well as the costs and the hoops you must jump through to obtain and maintain a ...

Pfizer files for covid-19 vaccine approval

21Nov

By Administrator_IndiaNo Comments

Coronavirus News

Pfizer files for covid-19 vaccine approval

By Administrator_India Capital Sands Pfizer Inc applied to U.S. health regulators on Friday for emergency use authorization (EUA) of its COVID-19 vaccine, the first such application in a major step toward providing protection against the new coronavirus. The application to the U.S. Food and Drug Administration (FDA) comes just days after Pfizer and German partner BioNTech SE reported final trial results that showed the vaccine was 95% effective in preventing COVID-19 with no major safety concerns. Pfizer Chief Executive Officer Albert Bourla confirmed the application had been made in a video posted on the company's website on Friday afternoon. The FDA said on Friday it would hold a meeting of the advisory committee on Dec. 10 at which members would discuss the vaccin...

COVID-19 vaccine should be available for public by April 2021: Serum Institute CEO Adar Poonawalla

20Nov

By Administrator_IndiaNo Comments

Coronavirus News

COVID-19 vaccine should be available for public by April 2021: Serum Institute CEO Adar Poonawalla

By Administrator_India Capital Sands Vaccine maker Serum Institute of India’s CEO Adar Poonawalla on November 19 said the Oxford COVID-19 vaccine should be available for healthcare workers and elderly people by around February 2021 and by April for the general public, and will be priced at a maximum of Rs 1,000 for two necessary doses for the public, depending on the final trial results and regulatory approvals. Probably by 2024, every Indian will get vaccinated, he said at the Hindustan Times Leadership Summit (HTLS), 2020. "It will probably take two or three years for every Indian to get inoculated, not just because of the supply constraints but because you need the budget, the vaccine, logistics, infrastructure and then, people should be willing to take the vaccine. So these...

Dollar Up, Hopes of Fed Monetary Stimulus Rise

19Nov

By Administrator_IndiaNo Comments

U.S

Dollar Up, Hopes of Fed Monetary Stimulus Rise

By Administrator_India Capital Sands The dollar was up on Thursday morning in Asia, clawing back gains from earlier losses. The market saw small moves as the number of COVID-19 cases globally continues to rise incessantly, and expectations of further monetary stimulus from the U.S. Federal Reserve begin to grow. “Central bankers continue to offer promises of almost endlessly easy money. That, when U.S. COVID-19 infection rates are causing enough concern about growth prospects to offset vaccine news, has kept the dollar on the back foot, even as equities soften," Societe Generale currency strategist Kit Juckes told Reuters. The U.S. Dollar Index Futures that tracks the greenback against a basket of other currencies inched up 0.09% to 92.472 by 10:07 PM ET (2:07 AM GMT). It has b...