Wealth Management

ITR forms for 2019-20 notified; govt makes mandatory disclosure of electricity bill exceeding Rs 1L

Indian News       May 31, 2020

  New Delhi:  The government has notified forms for filing tax returns for income earned in 2019-20 and made it mandatory for people to file ITR in case their deposits in a current account exceed Rs 1 crore or electricity bill in the fiscal is Rs...

Coronavirus sinks U.S. consumer spending; savings hit record high

Facts       May 29, 2020

WASHINGTON:  (U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.The report from the Commerce...

China's rich moving out of Hong Kong to seek asset safety elsewhere: Report

International News       May 28, 2020

  Rich Chinese are expected to park fewer funds in Hong Kong on worries that Beijing's proposed national security law for the city could allow mainland authorities to track and seize their wealth, bankers and other industry sources said.   More than half of Hong Kong's estimated...

Gold imports dip for fifth consecutive month in April, fall by almost 100%

Indian News       May 25, 2020

  New Delhi: India's gold imports contracted for the fifth consecutive month in a row, falling by about 100 per cent to USD 2.83 million in April due to the lockdowns imposed globally on account of coronavrius outbreak.   The import of the yellow metal stood at...

People more worried about economic crisis than coronavirus, says study

Facts       May 25, 2020

  Indians are more worried about the economic crisis than health issues emanating from coronavirus pandemic, according to an online study conducted by IIM Lucknow on "Understanding public sentiment during lockdown". The study - conducted by Centre for Marketing in Emerging Economies (CMEE) at IIM Lucknow...

Richer in pandemic: Bezos, Musk among US billionaires whose net worth rose

Facts       May 23, 2020

  The combined wealth of America's billionaires, including Amazon.com Inc founder Jeff Bezos and Tesla Inc chief Elon Musk, increased nearly 10 per cent during the ongoing Covid-19 pandemic, according to a report published by the Institute for Policy Studies (IPS).   The wealth surge of America's...

Hindujas share second spot with Reuben brothers in UK Rich List 2020

Facts       May 17, 2020

   New Delhi: Two sets of Indian-origin siblings dominate the annual tally of Britain's wealthiest as the Hinduja and Reuben brothers share the second spot with a fortune of 16 billion pounds each, while British inventor-entrepreneur James Dyson tops 'The Sunday Times Rich List 2020' with...

Jeff Bezos could be world’s first trillionaire, followed by Mukesh Ambani in 2033, says study

Facts       May 15, 2020

  Amazon founder and CEO Jeff Bezos could potentially become the worlds first trillionaire as early as 2026, at which point he will be aged 62, says a study.   Despite losing an estimated $38 billion as part of his recent divorce, Bezos is still by far...

Coronavirus to leave a legacy of unprecedented global debt

International News       May 15, 2020

  LONDON:  Enormous doses of stimulus spending are offering relief from coronavirus damage but their lifelong legacy of debt could seed future crises by hobbling economic growth and worsening poverty, especially in developing countries. Central banks and governments worldwide have unleashed at least $15 trillion of...

Global Markets: Asian stocks stumble on fears of second coronavirus wave

International News       May 12, 2020

SYDNEY: Asian shares skidded on Tuesday on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.   The central Chinese city of Wuhan reported five new cases on...

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