Day: July 22, 2020

R1bn budget cut for tourism department
Stock News

R1bn budget cut for tourism department

Even the Tourism Department is taking a massive hit from the economic fallout of the Covid-19 pandemic.Tourism Minister Mmamoloko Kubayi-Ngubane confirmed during her department’s adjustment budget vote on Wednesday that its allocation for the 2020/21 financial year has been slashed by just over 60% or R1 billion. “Before the Covid-19 crisis, our 2020/21 budget allocation was R2.48 billion, of which R1.304 billion was for transfers and subsidies. The department’s revised budget allocation for 2020/21 is R1.48 billion, of which R505 million is for transfers and subsidies,” she said. “The department has had a total budget reduction of R1 billion, with South African Tourism sustaining the largest budget cut amounting to R886 million, due to suspension of most of the marketing activities.”...
Forex Trading in Guyana • Forex Strategy
Forex News

Forex Trading in Guyana • Forex Strategy

Benzinga Money is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more. The currency trading sphere of Guyana is expanding, as new loosened regulations make the forex market more accessible to everyday citizens. According to a report by the Bank of Guyana, the forex market of the country reached $7.1 million in 2017. If you’re interested in learning more about how you can trade forex in Guyana, be sure to read our guide to opening your account before you start.  Get Started with Forex in Guyana The rise of online brokerage accounts has made it easier for Guyanese traders to find access to reliable, regulated forex brokers. Expect to take the following steps before you begin trading. Step 1: Check your internet connection...
Bond Report: 10-year Treasury yield lowest in three months as U.S.-China tensions spurs bond rally
Stock News

Bond Report: 10-year Treasury yield lowest in three months as U.S.-China tensions spurs bond rally

U.S. Treasury yields fell Wednesday after the U.S. ordered China to close its consulate in Houston, exacerbating tensions between the two world’s largest economies. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, 0.595% was down 1.1 basis points to 0.595%, its lowest since April 24, while the 2-year note rate TMUBMUSD02Y, 0.161% was at 0.145%. The 30-year bond yield TMUBMUSD30Y, 1.294% slipped 2.3 basis points to 1.290%, its lowest since May 1. Bond prices move in the opposite direction of yields. What’s driving Treasurys? A resurfacing of geopolitical concerns rattled markets on Wednesday, buoying prices for haven assets like government bonds. The U.S. State Department told China to close its consulate in Houston “to protect American intellectual property” and...
RBL to lead small banks’ capital charge with Rs 1k cr
Stock News

RBL to lead small banks’ capital charge with Rs 1k cr

The revival in investor sentiment towards banks after a brutal sell off in the first quarter due to concerns on deposit outlfows and uncertainties related to Covid-19 has caused smaller banks to consider a share sale to bullet proof their balance sheets.Banks like RBL Bank, Federal Bank and DCB Bank are now likely to join the their bigger peers such as ICICI Bank and Axis Bank in planning a share sale some time this year. RBL Bank, which raised Rs 2025 crore through a qualified institutional placement (QIP) as recently as December is likely to be first off the block seeking to raise another Rs 1000 crore through a preferential allotment as it seeks to insulate itself from any shocks in the future due to the Covid 19 pandemic. "A preferrential issue is on the table because it can be don...
Analyse India Report – Top Tweets, Posts, Charts, Analysis, Opinions etc
Technical Analysis, Top Trading

Analyse India Report – Top Tweets, Posts, Charts, Analysis, Opinions etc

Starting a new series – The Analyse India Report What will it contain ? Top 10 best tweets or posts or Charts or a Technical Analysis or Fundamental Analysis Note or a Blog Posts. If you find something super interesting do mail us on analyseindia@analyseindia.com This will be 2-6 times a month. For now we are experimenting with the format. So starting the first draft through a public post to get more feedback. 1) India – A Shallow Market !!! by Nithin Kamath – Zerodha We tried to guesstimate retail investor's participation in Indian stock markets. Total daily active traders Equity: 16L to 20L F&O: 5L to 7L Daily active Intraday traders Equity: 4L to 6L F&O: 1.5L to 2.5L It's a shallow market, and lot needs to be done to expand it. #advisors — Nithin Kamath (@Nithin0dha) July 22...
Global Risk-On Sentiments Back on EU Deal: ETFs to Play
ETFs

Global Risk-On Sentiments Back on EU Deal: ETFs to Play

Despite rising coronavirus cases globally, a Europe stimulus deal and strong vaccine hopes boosted risk-on sentiments in the global markets. After a tough negotiation, European Union leaders agreed on a massive stimulus plan for their coronavirus-shattered economies in one of the longest EU summits in history. Global Stimulus Talks At the meeting, the leaders agreed to distribute 390 billion euros, out of the total 750 billion fund, in the form of grants — down from an initial proposal made by France and Germany in May for 500 billion euros of grants. The rest of the stimulus will comprise low-interest loans. The EU agreed to repay all the new debt by 2058. Meanwhile, member states will also have to come up with plans on how the new funds will be invested. Apart from this stimulus, th...
Commodities Trader Turns Utility in Green Energy Venture – Data Center Knowledge
Commodities

Commodities Trader Turns Utility in Green Energy Venture – Data Center Knowledge

Rachel Morison (Bloomberg) -- Hartree Partners LP, the commodities firm formed by a pair of Goldman Sachs Group Inc. traders, is starting a new unit that will build renewable energy plants to supply customers with emissions-free electricity. Companies from Amazon.com Inc. to Apple Inc. are pledging to make their operations greener as the Paris climate deal prompts nearly every country in the world to run their economies on cleaner energy. Investment in new renewable energy capacity is climbing, rising 5% to $132 billion in the first half of 2020, according to BloombergNEF. “Companies have set their green targets and they come to us asking how they can make it happen,” said Adam Lewis, an energy trader for 20 years who is leading the London-based venture called Hartree Solutions. “The e...
A Polkadot-Based Project Wants to Unlock Staked Coins for DeFi Collateral
Crypto News

A Polkadot-Based Project Wants to Unlock Staked Coins for DeFi Collateral

An upcoming decentralized finance project built on Polkadot (DOT) is looking to unlock liquidity that would be tied up in staking as part of its consensus mechanism. Called Stafi, short for Staking Finance, the project wants to implement liquid staking on Polkadot and potentially other blockchains as well. A drawback of staking funds for consensus is that they cannot be used for anything else while locked up. “Liquid staking” as implemented by Stafi would allow users to maintain the ability to transact with their tokens while also participating in consensus and receiving staking rewards on their money. Cointelegraph spoke with Liam Young, CEO and co-founder of Stafi, as well as Bonna Zhu, head of business development in Asia at BitMax. Zhu explained that Stafi is a candidate for the e...
Share Market Trading Tips for 23rd July 2020
Top Trading, Trading Tips

Share Market Trading Tips for 23rd July 2020

SELL HINDUNILVR (NSE Code) Sell Below 2244.40 after cooling period. SIGNAL : DARK CLOUDS NEAR MINOR TOP WITH HIGHER VOLUME. Stop Loss : 2302.85 Target : 2198.35 (Short term) HOT BUZZING STOCKS (23.07.2020) NSE SYMBOL      CLOSING RATE MATRIMONY    559.25 5PAISA    403.35 ARVINDFASN    130.20 WABAG    125.10 SEYAIND    86.50 GTPL    88.65 INTELLECT    147.80 AXISCADES    56.20 EDELWEISS    74.45 SHREYAS    72.90 FSC    141.50 OMAXE    65.85 RUCHI    740.85 FLUOROCHEM    429.50 ARVSMART    79.30 Strategy : INSIDE CANDLES (Intraday/Short term) DALMI...
Economic Spotlight: New Zealand And Australia’s Currencies – Benzinga
Currencies

Economic Spotlight: New Zealand And Australia’s Currencies – Benzinga

Since 2011, the currencies of Australia (AUD) and New Zealand (NZD) have fallen versus USD. Of the two, NZD has done a little better. While AUD has fallen 31% versus USD since the beginning of 2011, NZD is down about 15% over the same period (Figure 1). In fact, AUD peaked versus NZD nine years ago, with an AUD worth 1.37 NZD at its height. Earlier this year, the AUDNZD rate nearly reached parity for the first time, before rebounding to around 1.05 (Figure 2). Figure 1: AUD and NZD versus USD Figure 2: AUDNZD fell to an intraday record low close to parity earlier this year NZD’s outperformance of AUD over the past decade appears to come down to three factors: Prices for commodity exports from New Zealand held up better than Australia’s New Zealand’s economic growth was m...