Friday, 15 Nov 2024

Rupee slumps 17 paise to 74.79 against US dollar in early trade

Listen: Trevor Story greets DIA travelers headed to MLB All-Star Game – The Denver Post

Keep your ears open for a new voice welcoming travelers flocking to Denver International Airport ahead of the Major League Baseball All-Star Game.

Rockies shortstop Trevor Story’s voice is piped into the DIA trains to the gates, wishing travelers a warm welcome to “beautiful Colorado and the Mile High City.”

The festivity-filled week kicks off Thursday afternoon with MLB’s Pitch, Hit and Run and Junior Home Run Derby events and ends Tuesday with the namesake game.

All activities can be found online at denvergov.org/allstarinfo.

Herald afternoon quiz: July 8

Test your brains with the Herald’s afternoon quiz. Be sure to check back on nzherald.co.nz for the morning quiz tomorrow.

To challenge yourself with more quizzes, CLICK HERE.

John Dean Reveals The Massive Legal ‘Trap’ Trump Accidentally Set For Himself

John Dean, a central figure in the Watergate scandal that brought down President Richard Nixon, said Donald Trump just created a huge trap for himself with his latest court filing.

The former president on Wednesday sued Twitter, Facebook and Google for banning him from certain websites, claiming they could pay out “trillions” in damages.

Former cable TV host and sportscaster Keith Olbermann tweeted a reminder that even a frivolous lawsuit such as this one could lead to a days-long deposition: 

Dean retweeted Olbermann’s message ― then added: 

Most legal observers believe Trump’s lawsuit will go nowhere and is actually a scheme to help raise money.  

Dean, who served as White House counsel under Nixon, was dubbed the “master manipulator” of the Watergate affair by the FBI. However, he ultimately cooperated with prosecutors and played a key role in the investigation that led to Nixon’s resignation.  

China’s Manufacturing Sector Growth Weakens In June

China’s manufacturing sector growth softened in June as output and new orders growth slowed due to an uptick in COVID-19 cases and supply chain difficulties, data from IHS Markit showed on Thursday.

The Caixin manufacturing Purchasing Managers’ Index fell to a 3-month low of 51.3 in June from 52.0 in May. The reading was below economists’ forecast of 51.8. However, a score above 50.0 indicates expansion in the sector.

Production grew at the slowest pace since March and total new business grew at a slower rate in June. New export work was broadly stagnant in June.

Data signaled a slower increase in purchasing activity due to the lack of stock at vendors and logistical delays related to the pandemic.

On the employment front, the survey showed that manufacturers added to their workforce numbers again in June. Though marginal, the rate of job creation was the second strongest since January 2013.

At the same time, backlogs of work rose for the fourth month in a row, though the rate of accumulation was only slight.

Inflationary pressures eased in June. The rate of input price inflation softened to a seven-month low. At the same time, prices charged by manufacturers rose at the slowest rate since February.

Business confidence towards the year-ahead outlook for output remained strong in June. But the degree of optimism was unchanged from May’s four-month low.

Fielmann H1 Profit, Sales Climb; Sees Higher FY21 Results – Quick Facts

German optics firm Fielmann AG (FLMNF.PK) reported Thursday that its first-half Group sales climbed 29 percent to 790 million euros from previous year’s 610.8 million euros.

External sales, including VAT and changes in inventories, increased 29 percent to 919 million euros from 712.7 million euros a year ago.

The company reported preliminary results, expecting profit before taxes or EBT to be around 150 percent higher to around 95 million euros from previous year’s 37.5 million euros.

The company said the results were accelerated by declining coronavirus incidences, the success of vaccination programs and investments in the digitisation and internationalisation of the
business.

Fielmann said its recovery gained pace in the second quarter across all major markets.

Looking ahead for the full year 2021, based on the swift recovery, the company expects external sales of about 1.9 billion euros, up from previous year’s 1.6 billion euros, and group sales of about 1.7 billion euros, up from previous year’s 1.4 billion euros.

Pre-tax profit for the year is expected to be around 200 million euros, higher than last year’s 175.5 million euros.

Rupee slumps 17 paise to 74.79 against US dollar in early trade

In the previous session, the rupee had settled at 74.62 against the US dollar

The rupee depreciated 17 paise to 74.79 against the US dollar in opening trade on Thursday, following a strong dollar overseas and subdued sentiment in the domestic equities.

However, lower crude prices and fresh foreign fund inflows restricted the rupee’s fall, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 74.75 against the dollar, then fell further to 74.79 in the morning session, registering a fall of 17 paise over its previous close.

In the previous session, the rupee had settled at 74.62 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, surged 0.11 per cent at 92.74.

On the domestic equity market front, BSE Sensex was trading 74.49 points or 0.14 per cent lower at 52,980.27, while the broader NSE Nifty slipped 31.70 points to 15,847.95.

Foreign institutional investors were net buyers in the capital market on Wednesday as they bought shares worth Rs 532.94 crore, as per exchange data.

Global oil benchmark Brent crude futures fell 0.07 per cent to USD 73.38 per barrel.

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