The three officials banned by the U.S. are Chen Quanguo, CCP Party Secretary of the Xinjiang Uyghur Autonomous Region; Zhu Hailun, Party Secretary of the Xinjiang Political and Legal Committee; and Wang Mingshan, the current Party Secretary of the Xinjiang Public Security Bureau. … [Read more...] about China imposes visa restrictions on top U.S. officials, politicians in response to Xinjiang ban
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US dollar in opening trade on Tuesday tracking weak domestic equities and strengthening American currency. The rupee opened at 75.33 at the interbank forex market, then lost ground and touched 75.35 against US dollar, down 16 paise over its last close. It had settled at 75.19 against the US dollar on Monday. Forex traders said steady crude oil prices and foreign fund inflows supported the rupee, while factors like strong dollar, negative domestic equities and rising COVID-19 cases dragged the local unit down. Moreover, investor sentiment weakened after India's June Consumer Price Index (CPI) breached Reserve Bank of India's tolerance band of 6 per cent, traders said. Retail inflation increased to 6.09 per cent in June, mainly on account of higher prices of food items, government data showed on Monday. Food inflation in June increased by 7.87 per cent, according to the CPI data. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 per … [Read more...] about Rupee slips 16 paise to 75.35 against US dollar in early trade
“There is a risk that the divergence between a gloomy economic outlook and unexpectedly strong returns from equity markets is reconciled by some pull-back in asset prices rather than a surge in economic optimism,” said Chris Iggo at AXA Investment Managers. “There is a case for caution.” … [Read more...] about Asian markets hit by new lockdowns, fresh China-US tensions
“It is... important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore there’s no question of this having any bearing on ‘loan book’ or causing any loss to the bank,” a bank spokesperson said. … [Read more...] about Probe on vehicle-finance lending practices will not cause any loss: HDFC Bank
Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India’s top exports to China remain in the raw materials category, shows the latest data released by the commerce department for FY20. … [Read more...] about What does India export the most to China?