Euro zone catches up with U.S. as global growth gets more in sync - OECD

By Leigh Thomas

PARIS - Growth rates among the world's major economies are synchronising at levels not seen in years as the euro zone catches up with United States, the OECD said on Wednesday in an update of its forecasts.

The global economy is set for growth this year of 3.5 percent before reaching 3.7 percent next year, up marginally from estimates in

Rupee trades lower against dollar as Fed outcome looms

The Indian Rupee continued losing streak against the US dollar on Wednesday amid fund outflows by foreign funds and importers due to strong demand for the American currency ahead of US Fed policy outcome.

The Federal Open Market Committee will conclude its two-day policy meeting today which will give some clue about the timing of interest rates hike. At the Interbank Foreign Exchange

US dollar declines as Fed meeting begins

The US dollar decreased against most other major currencies on Tuesday, as the Federal Reserve began its two-day monetary policy meeting.

In late New York trading, the euro rose to $1.1998 from $1.1950 in the previous session, and the British pound gained to $1.3523 from $1.3489 in the previous session, Xinhua news agency reported.

The Australian dollar climbed to $0.8012 fr

Swiss shut down `fake` E-Coin in latest cryptocurrency crackdown

By Joshua Franklin

ZURICH - Switzerland's financial watchdog has closed down what it said was the provider of a fake cryptocurrency and is investigating around a dozen other possible fraud cases, in the latest clamp-down on the risks involving virtual money.

The move by the FINMA watchdog comes on the heels of Chinese authorities' ordering Beijing-ba

Rupee weakens against dollar ahead of Fed meet

The Indian Rupee was trading lower against the US dollar on Tuesday amid fund outflows by foreign funds and importers due to strong demand for the American currency ahead of US Fed policy outcome. The Federal Open Market Committee will begin a two-day policy meeting today to take a call on unwinding of the balance sheet and tweaking of interest rates. At the Interbank Foreign Exchange Market, t

A winning bearish dollar bet: local currency emerging markets bonds

By Dion Rabouin

NEW YORK  - One of the best strategies to cash in on the dollar's slide since Donald Trump’s election victory is a rather exotic one: buying local emerging market currency bonds.

Investors who doubted Trump could quickly deliver promised tax cuts, big spending and better trade deals - and by doing so boost the dollar - are now

What crackdown? Expect more China deals, bankers say

SINGAPORE - China will remain a major source of deals as local firms invest overseas and foreign companies put money into the world's second-largest economy, despite a government crackdown on splashy acquisitions, bankers and investors said.

While new rules to curb irrational spending and outflows have dragged down overseas investments by China's acquisitive c

Nail euro zone problems first, fix institutions later, ministers say

By Jan Strupczewski and Francesco Guarascio

TALLINN - The euro zone must identify its problems, then see what changes to its institutions are needed to fix them, euro zone finance ministers said on Friday.

Their discussions in the Estonian capital of Tallinn follow differing proposals from France, Germany and the European Commission to revamp the institution

New hedging rules will make FX traders put up or shut up - every day

By Saikat Chatterjee

LONDON  - New European Union regulations on foreign exchange trading will make it harder and more expensive to manage currency risk, traders said, especially for large financial counterparties such as hedge funds and insurance companies.

The regulations will impose "variation margins" on banks, companies and funds that use

Rupee down 6 paise at 64.15 against US dollar

The Indian Rupee was trading lower against the US dollar on Thursday amid fund outflows by foreign funds and importers due to strong demand for the American currency. However, firm cues from domestic equity market restricted Rupee's downward movement.

At the Interbank Foreign Exchange Market, the local currency was down by 06 paise at 64.15 per dollar against a previous close of 6

Rupee trades higher against greenback

The Indian Rupee was trading higher against the US dollar on Wednesday on selling of the US currency by exporters and banks. According to forex dealers, weakness in dollar against major currencies overseas also boosted the rupee. The dollar fell to its weakest level since 2015 as experts warn that Hurricane Irma could have a devastating impact on the US.

The powerful storm has left a

Rupee down 2 paise at 64.05 against dollar

The Indian Rupee was trading lower against the US dollar on Tuesday amid fund outflows by foreign funds and importers due to strong demand for the American currency. However, firm cues from domestic equity market restricted Rupee's downward movement.

At the Interbank Foreign Exchange Market, the local currency was down by 02 paise at 64.05 per dollar against a previous close of 64

Rupee slides by 08 paise against dollar

The Indian Rupee was trading lower against the US dollar on Monday on fresh demand for the greenback from banks and importers. A strong dollar in overseas markets weighed on the rupee sentiment, currency traders said. The dollar gained against global currencies amid the United Nations’ move to impose fresh sanctions on North Korea.

At the Interbank Foreign Exchange Market, the l

China fiscal revenue and spending growth slow in August

BEIJING  - Government spending in China rose at its slowest monthly pace in 10 months, though for the whole of 2017 spending is still up slightly from last year in a boon to broad economic activity.

China has pledged a pro-active fiscal policy to support the economy, and analysts have credited Beijing's pump-priming as one of the key factors underpinning soli

Rupee strengthens 16 paise against greenback

The Indian Rupee was trading higher against the US dollar on Friday on continuous selling of the US currency by exporters and banks. According to forex dealers, dollar's weakness against major currencies overseas boosted the rupee.

The dollar fell to its weakest level since 2015 as experts warn that Hurricane Irma could have a devastating impact on the US. The powerful storm has l

Rupee up 08 paise at 64.02 against greenback

The Indian Rupee was trading higher against the US dollar on Thursday on dollar selling by banks and exporters and foreign fund inflows. According to forex dealers, the dollar’s slide against some currencies overseas and a firm domestic equity market supported the rupee.

According to provisional data, FPIs had turned net buyers in equity and debt markets yesterday after two days

Foreigners buy up Japanese bonds as geopolitical tensions take hold

By Shinichi Saoshiro

TOKYO  - Foreign investors were big buyers of Japanese bonds last week, with geopolitical tensions and concerns over U.S. fiscal policy boosting demand for such safe (if low-yielding) assets.

Weekly data from Japan's finance ministry issued on Thursday showed foreign investors bought a net 1.3592 trillion yen ($12.46 billion) of

Rupee slides by 10 paise against dollar

The Indian Rupee was trading lower against the US dollar on Wednesday amid fund outflows by foreign funds and importers due to strong demand for the American currency. Dealers said increased demand for the American currency from importers and banks and losses in domestic equity markets weighed on the rupee.

At the Interbank Foreign Exchange Market, the local currency was down by 10 pa

Emerging market inflows down $4 billion from July to lowest since January - IIF

By Dion Rabouin

NEW YORK - Foreign investors cut capital flows to emerging market debt and equities in August, reducing inflows to $15.8 billion as investor caution and profit-taking have slowed flows, a survey from the Institute of International Finance revealed on Tuesday.

The reading marked the lowest level of inflows since January's $13.2 billion rea

Bain makes first close for Asia credit fund, raising $557 million - filing

HONG KONG  - Bain Capital made the first close to its Asia credit fund, raising $557 million as the private equity firm looks to scoop up distressed debt in China and other countries in the region.

Bain Capital Special Situations Asia LP, as the fund is called, tapped 38 investors so far for the fund, according to a filing with the U.S. Securities and Exchange Co

ECB replaces North Korea in euro zone bond market spotlight

By Dhara Ranasinghe

LONDON  - Government bond yields in the euro area crept up on Tuesday as attention moved away from tensions over North Korea to an approaching European Central Bank meeting that could shed light on the timing for an unwinding of massive monetary stimulus.

The renewed tensions over North Korea have bolstered demand for safe bonds in r

Rupee slips by 6 paise against dollar

The Indian Rupee was trading lower against the US dollar on Tuesday amid fund outflows by foreign funds and importers due to strong demand for the American currency. At the Interbank Foreign Exchange Market, the local currency was down by 6 paise at 64.11 per dollar against a previous close of 64.05 per dollar at 12:21 hours.

Meanwhile, the benchmark BSE Sensex was trading at 31740.5

Euro zone investor morale improves unexpectedly in Sept - survey

BERLIN - Investor sentiment in the euro zone improved unexpectedly in September as concerns about the potential impact of a widening car emissions scandal in Germany and the development of the U.S. economy faded into the background, a survey showed on Monday.

The Frankfurt-based Sentix research group said its euro zone index rose to 28.2 points from 27.7 points in Aug

Rupee up 5 paise at 64.12 against greenback

The Indian Rupee extended gaining momentum against the greenback Thursday amid sustained selling of dollar by banks and exporters, while foreign fund inflows also boosted home currency. At the Interbank Foreign Exchange Market, the local currency was up by 05 paise at 64.12 per dollar against a previous close of 64.17 per dollar at 14:10 hours. In the day’s trade so far, the Rupee touched

China`s yuan posts best month since 2005 revaluation

SHANGHAI  - China's yuan eased on Thursday but posted its biggest monthly gain at the month-end, in percentage terms, since the Chinese currency was revalued and taken off a fixed dollar peg in 2005.

Spot yuan opened at 6.5974 per dollar and settled at 6.5969 by the 4:30 p.m (0830 GMT) domestic close. It was 3 pips weaker than the previous late session close