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CBDT Temporarily Suspends Foreign Funds Taxation By Investors

A notification stating that a controversial taxation circular issued last month is being reconsidered and will be put on suspension has reassured Foreign Portfolio Investors (FPI) having considerable exposure to Indian stocks. The circular contained new provisions to tax India-dedicated

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Pound Sterling Takes A Beating On Expectations Of A Hard Brexit

The British pound has dropped yet again now reaching a three-month low on fears of a formal confirmation that UK will be pursuing a hard Brexit in its negotiations with the European Union. The pound sterling was down to $1.1983

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Euro remains weak on worries over political uncertainty

Between December 15th and January 11th , the EUR/NZD pair appreciated from 1.4740 to 1.5230. The main reason for the appreciation was the FOMC’s statement underlining the possibility of three rate hikes of 25 basis points in 2017. The statement

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DOJ Charges UK-based Traders For Forex Currency Rigging

Three former traders from the UK have been charged by American officials for conspiracy under an ongoing probe into the largescale foreign exchange rate rigging scam that occurred between 2007 and 2013. The U.S. Department of Justice (DOJ) brought criminal

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British Prime Minister Calls For New Trading Relationship With EU

British Prime Minister Theresa May has said that Britain will have an entirely new trading relationship with Europe post Brexit, causing the pound to slide further on fears that her remarks indicate a total withdrawal from EU’s single market. Hinting

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Euro strengthens as economy shows signs of recovery

The Fed’s outlook of three rate hikes this year considerably eroded the prominence of the New Zealand dollar as a ‘carry trade’ currency. This was the prime reason for the Euro, which buckled against the Greenback, to gain ground against

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New Chinese Forex Restrictions Impact Likely To Be Minimal

China’s new rules for foreign currency transactions that attempt to control conversion of yuan into foreign currencies for buying property overseas might not have the desired impact as per experts. From January 1 onwards, Chinese citizens are not allowed to

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UK Treasury Department Approves New Penalties For Tax Evasion

The HM Revenue & Customs (HMRC) department in the UK is now empowered to name and shame all those financial intermediaries who are acting as enablers for the ultra-rich to evade tax. This is one of the many new laws

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Economic contraction in Q3 2016 turns Rouble weak

The Greenback strengthened against all the major currencies in the past two months, mainly due to the Fed’s statement indicating the possibility of up to three rate hikes in 2017, instead of two expected by the market. However, the US

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FTSE Reaches Record Highs After Rallying By Mining Shares

UK’s blue-chip index FTSE 100 is soaring to record heights on the back of a strong rally by mining shares, the falling value of the sterling pound after Brexit and optimism about the American economy. The pound is down by

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