Day: June 18, 2020

Stocks, U.S. Futures Turn Higher; Treasuries Gain: Markets Wrap

(Bloomberg) — European equities and U.S. futures erased declines on Thursday as investors shrugged off accelerating coronavirus infections in some countries. Treasuries trimmed their advance.

The Stoxx Europe 600 reversed its earlier decline, as tech and retailer shares turned higher. Contracts on the main U.S. equity benchmarks came off their session lows to notch modest gains. Asian stocks mostly fell amid a cluster of infections in Beijing that emerged after a lull of nearly two months. The pound weakened ahead of a Bank of England decision; policy makers are expected to add to economic stimulus. Crude oil prices erased earlier

Coal sector liberation: PM Modi launches coal auction for commercial mining; lists out these benefits

India has the fourth-largest coal reserves and the country is the second-largest producer of coal.

In an effort to make India self-reliant in the energy sector, Prime Minister Narendra Modi today launched the auction of 41 coal mines for commercial mining, via video conference. In his address, PM Modi said for decades, the country’s coal sector was entangled in a web of captive and non-captive and was excluded from the competition. Narendra Modi added that the commercial coal mining auction is an event in challenging times, which will increase transparency in the sector and make the country less reliant on

‘Uncertainty looming over Covid crisis bottoming out for MSMEs to assess need for more govt stimulus’

Several thousands of MSMEs are falling sick every year owing to lack of resources.

Ease of Doing Business for MSMEs: The MSME sector contributes significantly to India’s GDP and provides livelihood to more than 10 per cent of the national population. It involves low capital costs and this makes it particularly suitable for the socio-economic set-up of India. Several thousands of MSMEs are falling sick every year owing to lack of resources, market or inappropriate business strategies, and Covid-19 and the related economic crises are likely to aggravate the situation. The seriousness of the situation has led the government to