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China's Shanghai Composite index rose 0.26 per cent to 3,455.65. South Korea’s Kospi added 0.66 per cent to 3,168.85 while Hong Kong’s Hang Seng jumped 1.04 per cent to 28,720.37. Taiwan's TWSE index advanced 1.24 per cent to 17,052.29. Data released overnight showed the US services sector added hundreds of thousands of jobs last month.
Recovery incomplete, high inflation unlikely: PowellMost economists say they think the Fed’s continued low rates, further government financial aid and progress in combating the viral pandemic could create a mini-economic boom as soon as this summer. Powell acknowledged the pot… Read MoreBankers fear spike in NPAs from Mudra loansBankers say that the Supreme Court moratorium over classifying loans as non performing assets (NPAs) has so far kept defaults under wraps, even as recovery efforts are ongoing. But they fear that as much as 25% loans under th… Read MoreHigher PF outgo may blunt salary hikes Salary hikes this year may not translate into higher cash-in-hand for employees if organisations choose to pay more in provident fund (PF) contributions due to the new definition of wages proposed by the government, showed a… Read MoreCut fuel taxes to tame inflation: EconomistsInflation has fallen under 6%, the upper tolerance limit. But the RBI's RBI's Monetary Policy Committee(MPC) minutes also flags members' concerns and warning that core inflation needs monitoring, particularly due to rising gl… Read MoreIRDAI gives nod to Axis-Max Life dealAs per the proposed transaction, Axis Entities have the right to acquire up to 19% stake in Max Life, of which, Axis Bank proposes to acquire up to 9%, and Axis Capital Limited and Axis Securities Limited together propose to … Read More
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