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Central Bank hires Amundi to manage €240m equities portfolio

January 11, 2018

The Central Bank has hired French asset manager Amundi to manage a €240 million equities portfolio, the first time it has outsourced the management of part of its investments. A spokeswoman for the bank said that the decision to “outsource in this instance was taken for operation”. Amundi bought Dublin based KBI Global in 2016 […]

Economy

Bitcoin falls as South Korea plans to ban cryptocurrency trading

January 11, 2018

The South Korean government said it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax evasion. The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymakers around the […]

Economy
 

UK watchdog’s warning on spreadbetting sparks a fall in shares

January 11, 2018

Britain’s financial watchdog says there are “areas of serious concern” in Britain’s contracts for differences (CFDs) market. Shares in spread-betting companies fell sharply as trading opened on Wednesday following the review by the Financial Conduct Authority (FCA). Shares in CMC Markets, IG Group and Plus500 fell by more than 7 per cent, with IG Group […]

Economy

Bank rally pushes markets up again

January 10, 2018

Global bond yields rose after Bloomberg reported that Chinese officials were said to be wary of American government debt, further roiling a bond market unnerved by a recent sell-off. This drove financial stocks across Europe higher and kept markets on winning run. Reduced asset purchases by the world’s top central banks, rising commodity prices and […]

Economy

UK watchdog warns on spreadbetting, knocking shares

January 10, 2018

Britain’s financial watchdog says there are “areas of serious concern” in Britain’s contracts for differences (CFDs) market. Shares in spread-betting companies fell sharply as trading opened on Wednesday following the review by the Financial Conduct Authority (FCA). Shares in CMC Markets, IG Group and Plus500 fell by more than 7 per cent, with IG Group […]

Economy

JPMorgan’s Jamie Dimon regrets calling bitcoin a ‘fraud’

January 9, 2018

JPMorgan chief executive Jamie Dimon regrets having called bitcoin a “fraud” but would still not be interested in the cryptocurrency, he said in an interview on Fox Business on Tuesday. Mr Dimon, known for his candid comments, slammed the viability of bitcoin in September. His comments were followed by a more tempered view from chief […]

Economy

Dollar index hits 11-day high after slump last week

January 9, 2018

The dollar climbed against a basket of major currencies on Tuesday, recovering further from last week’s decline to the lowest in more than three months, which drew bargain hunters. The dollar index, which measures the greenback against six rival currencies, was up 0.28 per cent at 92.62. The index fell to 91.751 on January 2nd, […]

Economy

Coal India stock rises up to 7.69% on hike in non-coking coal price

January 9, 2018

The Coal India stock rose up to 7.69% on Tuesday after the state run miner said its board has approved a hike in non-coking coal prices for both power and non-power consumers with immediate effect. At 2:45 pm, the stock was trading 5.71% or 16.45 points higher at 304.15 level on BSE. On the NSE […]

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European shares ride high on strong economic growth

January 9, 2018

European shares hit their highest level in more than two years on Monday as confidence over global economic growth and mergers and acquisitions continued to boost investor appetite for stocks. In the US, the S&P 500 and the Dow struggled to edge higher, stalling the strong rally that marked the start of 2018, pressured by […]

Economy

Jindal Steel and Power stock rises up to 13% on plan to raise Rs 1,000 crore via QIP

January 8, 2018

The Jindal Steel and Power Ltd (JSPL) stock rose up to 13% intra day after the firm said it would raise Rs 1,000 crore through qualified institutional placement (QIP) route in February. At 1:40 pm, the stock was trading 7.96% or 19.05 points higher at 258.35 on BSE. The stock hit an intra day high […]

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