Gold Silver Reports – Powell Sees Gradual Hikes Amid Strong U.S. Growth Outlook — Federal Reserve Chairman Jerome Powell said the central bank can continue gradually raising interest rates as the outlook for growth remains strong, and the recent bout of financial volatility shouldn’t weigh on the U.S. economy.
Global Economic
Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.
New Rules for Chit Funds and Deposit Schemes – Gold Silver Reports (GSR)
Gold Silver Reports – New Rules for Chit Funds and Deposit Schemes – Taking advantage of low financial literacy and greed of people looking for higher returns on their investments, many fraudulent deposit schemes and chit funds have collected huge amounts of money and vanished.
Nifty Earnings Must Break Six-Year Jinx To Meet FY19 Forecasts
Gold Silver Reports – Nifty Earnings Must Break Six-Year Jinx To Meet FY19 Forecasts — Analysts expect average earnings of companies in the benchmark Nifty 50 Index to grow at its fastest pace in eight years. To be proven right, they will have to break a six-year jinx.
State-Run Banks Told To Examine Bad Loans Above Rs 50 Crore For Fraud
Gold Silver Reports – State-Run Banks Told To Examine Bad Loans Above Rs 50 Crore For Fraud — The Finance Ministry has asked public sector banks to examine all bad loans above Rs 50 crore for possible fraud.
UBS Says Modi Win In 2019 Key To India’s Rich Stock Valuations
Gold Silver Reports – UBS Says Modi Win In 2019 Key To India’s Rich Stock Valuations — Most investors have priced in Prime Minister Narendra Modi winning a second term in the 2019 elections. A change in expectations through this year could derail a rally that’s almost doubled the nation’s equity values since Modi took office four years ago.
Bank Fraud Fallout in India Spreads to Market for Trade Finance
Gold Silver Reports – Bank Fraud Fallout in India Spreads to Market for Trade Finance — The fallout from India’s biggest banking fraud is spreading to the market for trade financing, as foreign lenders become more reluctant to accept the guarantees from their local counterparts that underpin the loans.
India Is Said to Plan Asking PNB to Pay Banks for PNB Bank Fraud
Gold Silver Reports – India is planning to ask state-owned lender Punjab National Bank to compensate other lenders for losses arising out of the $1.8 billion fraud allegedly perpetrated by jewelers Nirav Modi and Mehul Choksi, a person familiar with the matter said.