Day: June 19, 2020

Stocks Rise on Trade Talks, Stimulus; Bonds Dip: Markets Wrap

(Bloomberg) — Global stocks rose with U.S. equity futures on Friday as investors cheered the latest breakthrough in trade negotiations between America and China and stimulus talks in Europe. Treasuries slipped.

The Stoxx 600 Index climbed as attention turned to Friday’s negotiations over the European Union’s proposed 750 billion-euro ($840 billion) program to help economies rebound from lockdowns. Wirecard AG shares bucked the trend, continuing their free-fall as the German payments company faced a potential cash crunch. Contracts on the three main U.S. stock gauges advanced after China said it plans to accelerate purchases of American farm goods to comply

Modi’s Van Dhan Yojana to tribal economy’s rescue; high MSP helps tribals earn Rs 2,000 cr amid lockdown

With an aim to boost the sagging tribal economy, the government raised the minimum support prices (MSP) of minor forest produces by up to 90% on May 1, providing higher incomes for the tribal gatherers.

In a major boost to India’s tribal economy, the government and private traders procured large quantities of minor forest produce during the nationwide lockdown, which led to the infusion of over Rs 2,000 crores into the tribal communities. With an aim to boost the sagging tribal economy, the government raised the minimum support prices (MSP) of minor forest produces by up to 90 per cent

Mukesh Ambani’s promise fulfilled: RIL becomes net debt free thanks to Jio stake sale, rights issue

The company owed Rs 161,035 crore, as on 31st March 2020.

Mukesh Ambani’s RIL has become net debt free after the company raised money by multiple stake sales of its telecom arms Jio and Reliance Industries Ltd.’s rights issue, much before the March 2021 deadline of becoming net debt free. “Today I am both delighted and humbled to announce that we have fulfilled our promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” RIL chairman Mukesh Ambani said in a statement on Friday. The company owed Rs 161,035