Author: Press Room
© Reuters. NEW DELHI – The Reserve Bank of India (RBI) has reported a decline in India’s foreign exchange reserves, with a net decrease of $460 million, bringing the total to $590.32 billion as of the week ending on Thursday. This shift interrupts a previous increase in reserves due to active measures taken by the RBI to support the rupee amidst global economic uncertainties, which had seen gains of $7.3 billion over two weeks. The change in reserves is primarily attributed to the central bank’s currency market interventions aimed at managing the volatility in foreign exchange rates. Despite the overall…
With less than two months until the first votes in the battle for the 2024 Republican presidential nomination, two new polls in the first primary state show sustained momentum for former ambassador and former South Carolina Gov. Nikki Haley.However, the surveys in New Hampshire, which holds the second overall contest in the GOP nominating calendar following the Iowa caucuses, reaffirm that former President Donald Trump remains the dominant front-runner.The polls also suggest that Trump’s supporters are more enthusiastic and committed about voting for their candidate compared to those backing the former president’s rivals for the nomination.Trump stands at 46% support…
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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Ministers are preparing to allow private train companies in England to make greater profits if they succeed in boosting passenger numbers that were hit hard by the Covid pandemic.The transport department is holding talks with operators to reopen their contracts and introduce an incentive to boost passenger revenue as soon as next month, according to industry executives and government officials. The government stepped in to save the industry from collapse when the pandemic struck and assumed all financial risk by shifting train companies…
© Reuters. FILE PHOTO: Martin Gruenberg, acting chairman of the Federal Deposit Insurance Corporation (FDIC), speaks at a briefing about the bank and thrift industry earnings for the second quarter 2011 at FDIC headquarters in Washington August 23, 2011. REUTERS/Yur WASHINGTON (Reuters) -Lawmakers on Capitol Hill on Friday renewed public calls for an investigation into the allegations of sexual harassment and other workplace misconduct at the U.S. Federal Deposit Insurance Corporation. The announcements came as FDIC Chair Martin Gruenberg this week faced calls for his resignation following Wall Street Journal reporting according to which the agency had failed to eradicate…
© Reuters. TORONTO – Ernst & Young Inc., the court-appointed monitor for Traynor Ridge Capital Inc., has identified additional potential creditors entangled in the hedge fund’s difficulties following the death of its founder, Chris Callahan. The new parties impacted include National Bank of Canada (OTC:) and JonesTrading Canada Inc., joining the previously recognized creditors Echelon Wealth Partners Inc. and Virtu Financial (NASDAQ:) Inc. The Ontario Securities Commission (OSC) initiated an investigation into Traynor Ridge, resulting in a trading freeze that will remain in effect until February 8. This action comes after unsettled trades led to estimated brokerage losses between C$85…
© Reuters. OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration By Olesya Astakhova and Alex Lawler MOSCOW/LONDON (Reuters) – OPEC+ is set to consider whether to make additional oil supply cuts when the group meets later this month, three OPEC+ sources told Reuters after prices dropped by almost 20 percent since late September. Oil has slid to around $79 a barrel for from a 2023 high in September near $98. Concern about demand and a possible surplus next year has pressured prices, despite support from the OPEC+ cuts and conflict in the Middle East. Saudi…
imaginima/E+ via Getty Images Total active drilling rigs in the U.S. rose by 2 to 618, climbing after back-to-back weekly declines, according to the latest survey reported by Baker Hughes. Drilling rigs targeting crude oil in the U.S. jumped by 6 to 500, the largest weekly increase since February, while gas rigs fell by 4 to 114 and 4 rigs remain classified as miscellaneous. Rigs targeting crude oil in the Permian Basin added 4 to 307, and oil rigs in the Eagle Ford stayed flat at 47. ETFs: (NYSEARCA:USO), (UCO), (SCO), (USL), (DBO), (DRIP), (GUSH), (NRGU), (USOI), (UNG), (UGAZF), (BOIL),…
ISLAMABAD – The Pakistani rupee experienced a notable improvement in the inter-bank market, appreciating to close at 286.50 against the dollar, marking an uptick from its previous position. This gain was observed after the currency ended its weeks-long losing streak the day before. The positive shift comes on the heels of a staff-level agreement with the International Monetary Fund (IMF), which has helped mitigate recent pressures stemming from import payments. In open market transactions, the buying rates were recorded at 285.50 while selling rates stood at 288.50 for customers. This adherence to IMF structural benchmarks is significant as it mandates…
Nikki Haley ratcheted up her calls this week for the U.S. government to ban TikTok, the Chinese-owned social media platform, after some users, weighing in on the war between Israel and Hamas, promoted “Letter to America,” a text written by Osama bin Laden after the Sept. 11 terrorist attacks.Ms. Haley, a Republican presidential contender and former U.S. ambassador to the United Nations under President Donald J. Trump, argued that the document was another example of foreign adversaries using social media to spread anti-American propaganda to young people.“Stop giving the Chinese Communist Party the ability to influence Americans,” she wrote Thursday…