Veeam appoints Gil Vega as chief information security officer
Veeam Software, Backup solutions that deliver Cloud Data Management, on Monday announced that Gil Vega has been appointed chief information security officer (CISO).
Vega will be responsible for establishing and maintaining Veeam’s vision and strategy to ensure its information assets and solutions are adequately protected, and will be pivotal in driving strategies to help customers protect their critical data across multiple environments and ensure regulatory compliance.
“Data is the most critical asset in any organisation, but protecting it [data] against threats – both external and internal – is becoming more complex,” said Bill Largent, CEO at Veeam.
Goa’s economic situation worsens, debt zooms to over Rs 20,000 cr: GMOEA
Sensex jumps over 200 points, Nifty reclaims 9,300-mark
The benchmark indices continued the rally as the Sensex jumped 231.26 points or 0.73 percent to 31,819.98 while the Nifty was up 53 points or 0.57 percent at 9,319.75 at around 2.15 pm.
HDFC Bank, Infosys, Tech Mahindra and Sun Pharma were the top gainers in the Sensex pack.
Dollar gains broadly as risk sentiment subdued
The dollar gained broadly against its rivals on Monday as concerns about global growth boosted the safe-haven appeal of the greenback and weighed on risk-oriented currencies such as the Australian dollar.
Risk appetite was broadly on the back foot in the Asian session as data showed Japanese exports falling by its biggest margin in nearly four years and as oil prices weakened to a 21-year, reflecting a widening evaporation in global demand.
Against a basket of its rivals, the greenback rose 0.2 percent to 99.90 and edged closer towards a three-year high of near 103 hit last month.
RBI authorises Transcorp to issue co-branded PPI cards, wallets
Transcorp International, a 25-year-old BSE-listed company, announced the receipt of RBI’s nod for entering into co-branding arrangements for prepaid instruments that can be used for in over 35 lakh stores and online gateways.
In line with the government’s initiatives of cashless India and to promote safe transactions by eliminating the handling of currency, Transcorp has launched multi-wallet prepaid cards which has become the gold standard for expenses, incentives and reimbursements across business houses.
Amitava Ghosh, chief executive officer, Transcorp said “These cards can replace cash payment for all value transactions up to Rs 1,00,000. Organisations that need to disburse payments like wages, reimbursements, incentives and other recurring payments to their employees or beneficiaries can seamlessly do so. This facilitates the accounting department to manage expenses by not having to check every individual bill; eliminating cash as a medium of paying for company expenses.”
Wheat harvest continues in Amritsar, Punjab
Punjab: Harvesting of wheat crop continues in Amritsar amid extended lockdown. #COVID19 pic.twitter.com/ODMzWtZeUr— ANI (@ANI) April 20, 2020
Crude oil futures ease on low demand
Crude oil futures on Monday plummeted 21.24 percent to Rs 1,131 per barrel as participants trimmed their positions on weak spot demand.
On the Multi Commodity Exchange, crude oil for April delivery fell by Rs 305, or 21.24 percent, to Rs 1,131 per barrel with a business volume of 26,807 lots.
Crude oil for May delivery was quoting lower by Rs 182, or 9.04 percent, to Rs 1,832 per barrel with an open interest of 16,037 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by participants amid low demand.
Gold futures slide on weak global cues
Gold prices on Monday plunged Rs 44 to Rs 45,691 per 10 gram in futures trade as participants were engaged in profit-booking at prevailing levels in tandem with the yellow metal slipping overseas.
On the Multi Commodity Exchange, gold prices for June delivery fell by Rs 44, or 0.1 percent, to Rs 45,691 per 10 gram in a business turnover of 16,959 lots.
The yellow metal for August delivery declined by Rs 74, or 0.16 percent, to Rs 45,840 per 10 gram in 108 lots.
Globally, gold was trading 0.70 percent lower at $1,686.90 per ounce in New York.
IIFL Foundation supports hospitals, migrant labourers
IIFL Foundation has contributed another 20 lakhs to various hospitals and NGOs to provide protective gears to frontline staff and food to migrant labourers. It had earlier made a contribution of Rs 5 crore to the PM CARES Fund.
Madhu Jain, director, IIFL Foundation, said, “We have partnered with industry body FICCI and CSR platform Goodera. We have partnered with Saad Foundation to provide food and ration for few hundred families on a monthly basis.”
India’s new FDI norms violate WTO principle of free trade: Chinese embassy
India’s new norms for foreign direct investment from specific countries violate the WTO’s principle of non-discrimination and are against the general trend of free trade, a Chinese embassy spokesperson said on Monday.
The official said the new policy introducing ‘additional barriers’ was also against the consensus arrived at the G20 grouping to realize a free, fair, non-discriminatory and transparent environment for investment.
Last week, India made grant of prior approval mandatory for foreign investments from countries that share land border with India to curb ‘opportunistic takeovers’ of domestic firms following the coronavirus pandemic.
Stock Market Today LIVE Updates: Sensex up, Nifty reclaims 9,300-mark; Infosys, Tata Motors among major gainers
Sydney: Caution gripped Asian share markets on Monday on expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown, while US crude prices took an early spill.
Japan reported its exports fell almost 12 percent in March from a year earlier, with shipments to the US down over 16 percent. Early readings on April manufacturing globally are due on Thursday and are expected to show recession-like readings.
MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2 percent in slow early trade, with a pause needed after five straight weeks of gains. Japan’s Nikkei fell 1.3 percent and South Korea 0.1 percent.
Representational image. Getty
E-Mini futures for the S&P 500 ESc1 slipped 0.7 percent, having jumped last week on hopes some US states would soon start to re-open their economies.
US President Donald Trump said Sunday that Republicans were “close” to getting a deal with Democrats on a support package for small business.
But the US Centers for Disease Control and Prevention reported an increase of 29,916 in new infections and said the number of deaths had risen by 1,759 to 37,202.
The S&P 500 has still rallied 30 percent from its March low, thanks in part to the extreme easing steps taken by the Federal Reserve. The Fed has bought nearly $1.3 trillion of Treasuries alone, and many billions of non-sovereign debt it would historically have never gone near.
“The Fed will be a major buyer of risky assets in the coming months, and has displayed its willingness to backstop virtually any part of the domestic financial system in trouble,” said Oliver Jones, a senior markets economist at Capital Economics.
Yet the particular composition of the S&P 500 was also a major factor, he added, as three sectors relatively resilient to a virus-induced lockdown — IT, communications services and healthcare — make up around 50 percent of the index.
Indeed, Microsoft, Apple, Amazon, Alphabet and Facebook account for more than a fifth of the index.
“What’s more, the S&P 500 is skewed towards a few ultra-large firms, some of which are also in those sectors. Their sheer size might make them better able to weather a few months of dramatically-low revenues than most.”
#CNBCTV18Market | US stocks end higher on Friday, giving markets the second week of gains in a row pic.twitter.com/AJs3aK2AbZ
— CNBC-TV18 (@CNBCTV18Live) April 20, 2020
The rebound in the S&P 500 therefore likely overstated optimism on the economy, Jones argued, noting European benchmark equities indices and US small cap indices were still in bear market territory.
Bond markets suggested investors expected tough economic times ahead with yields on US 10-year Treasuries steady at 0.65 percent, from 1.91 percent at the start of the year.
That decline has shrunk the US dollar’s yield advantage over its peers and left it range-bound in recent weeks. So far in April, the dollar index has wandered between 98.813 and 100.940 and was last at 99.791.
The dollar was a fraction firmer on the yen on Monday at 107.63 but again well within recent ranges, while the euro idled at $1.0868.
Gold had recoiled to $1,676 per ounce, having touched a 7-1/2 peak of $1,746.50 last week.
Oil prices remained under pressure as the global lockdown saw fuel demand evaporate, leaving so much extra supply countries were finding it hard to find space to store it.
So great was the near-term glut that the May futures contract for US crude was trading down 7 percent at $16.96 a barrel CLc1, while June was standing at $24.28 CLc2.
Brent crude LCOc1 futures have already rolled over into June and that contract was off 32 cents at $27.75 a barrel.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Updated Date: Apr 20, 2020 14:37:10 IST
Asian Share Markets,
US Crude Prices