On Friday the 10-year US Treasury yields fell slightly but held above the 1.5% level, ahead of data out later in the morning showing the number of jobs added in February.
The 20 biggest nations need to back a $650 billion boost to the International Monetary Fund’s currency, reallocate existing reserves and extend debt payment relief to the poorest countries, former policymakers and poverty campaigners said.
The spike in diesel and petrol prices in India has brought attention to the country’s high dependence on crude oil imports. India produces less than one-fifth of its oil requirements and imports the rest.
Central banks from Hong Kong, China, Thailand and United Arab Emirates are exploring a digital currency cross-border payment project together. The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) worked together to study the application of central bank digital currencies (CBDC) last year.
On Monday Huawei launched a foldable smartphone as it faces questions over the future of its handset business that has been hurt by a number of United States sanctions. The Huawei Mate X2 launch highlights Huawei’s continued push into the high-end smartphone space.
On Friday WhatsApp, a Facebook-owned messaging platform said it conveyed to the government of India its commitment to protecting personal communications across the nation.
On Thursday crude oil futures edged higher to Rs 4,388 per barrel after hitting a fresh intraday high for February series of Rs 4,500 on the MCX. Crude oil rose on higher drawdown of US crude stockpiles and as cold weather in Texas shut production across the largest US crude producing state.
On Wednesday Epic Games announced that it has filed an antitrust complaint against Apple with the EU Commission, which is the executive arm of the European Union. In a complaint filed with the commission’s directorate-general for competition, the Fortnite developer said that the 30% cut that Apple takes on App Store purchases is anti-competitive.
On Tuesday morning the 30-year U.S. Treasury yields held above the 2% mark, as U.S. markets reopened following President’s Day. The yield on the benchmark 10-year Treasury note climbed to 1.232% at 3:45 a.m. ET, while the yield on the 30-year Treasury bond rose to 2.029%. Yields move inversely to prices.
Oil And Natural Gas Corporation (ONGC) Ltd’s performance for the quarter ended December bore the impact of lower realization in oil and gas business as well as in value-added products (VAP). The crude oil production and sales, however, have continued to rebound since the Centre eased lockdown-related restrictions.