Month: February 2021

Pope begins Lent as Ash Wednesday rites scaled again for COVID-19 By Reuters

wayne February 17, 2021
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© Reuters. Ash Wednesday mass in St. Peter’s Basilica on the Vatican

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By Philip Pullella

VATICAN CITY (Reuters) – Pope Francis led the world’s 1.3 billion Roman Catholics into Lent on Ash Wednesday, as they scaled again a centuries-old ritual to assist stem the unfold of the coronavirus.

Francis, who usually marks the beginning of the penitential season with an outside procession between two historical church buildings in Rome, as an alternative stated a Mass for about 120 individuals in St. Peter’s Basilica.

Throughout Lent, which ends with Easter, Christians are referred to as on to quick, observe extra good deeds, give alms, be near the needy and struggling, and quit one thing, comparable to sweets.

Final month the Vatican issued tips for Ash Wednesday within the COVID-19 period.

They stated clergymen ought to sprinkle ashes on the pinnacle moderately than rub them on the brow, put on masks and recite the standard “Bear in mind that you’re mud and to mud you’ll return” as soon as earlier than everybody moderately that to every congregant.

The pope himself, nonetheless, didn’t completely apply the brand new guidelines, generously dumping ashes on the crown of the heads of some cardinals

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gold worth immediately: Joe Biden’s stimulus package deal to maintain supporting gold worth

wayne February 17, 2021
With US charge hikes wanting doomed for now, the Federal Reserve is printing more cash than ever to stimulate restoration from Covid-19. On prime of that, President Joe Biden has a brand new $1.9 trillion coronavirus aid plan searching for Congressional approval, after the $4 trillion issued final yr by the Trump administration.

Though the stimulus measures and different uncertainties are preserving market individuals on the sting, we count on that will preserve supporting valuable metallic costs. The invoice remains to be underneath negotiation and just like the earlier invoice this one has additionally seen few delays making the market individuals anxious. President Biden has already introduced few stimulus packages and is predicted to announce extra with Treasury Secretary Janet Yellen additionally in help of injecting extra liquidity into the economic system. This situation shouldn’t be excellent for the economic system as it’ll improve the debt and affect inflation, however will create a helpful surroundings for the bullion market.

Funding in gold decreased for the week ended 14th Feb and holdings stood at 1,146 tonne, in comparison with holdings of about 1,156 tonne earlier. ETF holdings elevated by about 827 tonne to 19,549 tonne.

Aside from retail gross sales and

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India shuns US bonds amid rising yields

wayne February 17, 2021
Mumbai: India bought a report $10 billion price US treasuries (USTs)taking income off the desk amid rising yields. This might enhance the RBI’s revenues and earnings as properly this fiscal 12 months benefiting the federal government from surplus switch.

India’s publicity to USTs stands at $210 billion as of finish December, down from $220 billion in finish November, in response to information from the US treasury division. “RBI promoting UST in December could also be a mirrored image of foreign money diversification, in gentle of rising yields, notably in US,” stated Rahul Bajoria, chief economist at Barclays India. “This may occasionally additionally level to their views on fiscal spending.” Notably even the 2 largest holders of USTs, China and Japan together with some European buyers like France and rising market buyers like Philippines and Brazil have additionally minimize down their publicity to USTs. international buyers in USTs have lowered their publicity to USTs by $61 billion between July and December, the US treasury division information signifies.

For India, the place the central financial institution is one the biggest buyers within the US treasuries, the foreign exchange reserves pile-up that’s occurring because the pandemic induced lockdown, the pull down from USTs

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Japan’s Olympic minister Hashimoto is most well-liked candidate to succeed Mori: NHK By Reuters

wayne February 17, 2021
© Reuters. Japan’s Olympics Minister Hashimoto attends a information convention at PM Abe’s official residence in Tokyo

TOKYO (Reuters) – Japan’s Olympic Minister Seiko Hashimoto has emerged as the popular candidate to succeed Yoshiro Mori as president of the Tokyo 2020 organising committee after he stepped down final week, public broadcaster NHK mentioned.

The panel will ask Hashimoto if she needs to take the place, NHK added.

“I’m conscious of the report, however the committee is an unbiased physique that makes its personal determination,” the federal government’s spokesman, Chief Cupboard Secretary Katsunobu Kato, instructed a daily information convention.

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Coronavirus newest: UK inflation picks as much as lengthen rise from 4-year low

wayne February 17, 2021

Brussels is about to announce plans to plough thousands and thousands of euros into analysis on new coronavirus variants because it seeks to step up its response to the quickly evolving pandemic. Ursula von der Leyen, European Fee president, is getting ready to announce €150m in funding for analysis into novel mutant strains

Texas, which has been hit laborious by snow and freezing temperatures, expects this week’s vaccine deliveries to start on Wednesday “on the earliest” after the US Facilities for Illness Management and Prevention and its supply companions postponed vaccine shipments on Friday because of the incoming winter storm.

Scottish kids will start returning to nurseries and colleges subsequent week amid falling coronavirus case numbers, first minister Nicola Sturgeon confirmed on Tuesday. However she informed the Scottish parliament that additional lockdown easing should be “cautious, cautious and gradual” to keep away from future restrictions.

Authorities spending on shopping for and distributing vaccines may have a noticeable direct affect on the UK financial system, boosting output as a lot as 1 proportion level within the first quarter, Deutsche Financial institution forecast. “It may actually soften the blow of the winter lockdown,” stated economist Sanjay Raja.

A Southwest Airways worker

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Ford invests $1 billion in German electrical car plant

wayne February 17, 2021

GEORGES GOBET | AFP | Getty Photographs

Ford is investing $1 billion in an electrical car manufacturing facility in Cologne, Germany, with the European arm of the automotive big committing to go “all-in” on electrical automobiles within the years forward.

In plans introduced Wednesday morning, Ford stated its complete passenger car vary in Europe can be “zero-emissions succesful, all-electric or plug-in hybrid” by the center of 2026, with a “fully all-electric” providing by 2030. 

The funding in Cologne will see the corporate replace an present meeting plant, changing it right into a facility centered on the manufacturing of electrical automobiles.

“Our announcement in the present day to rework our Cologne facility, the house of our operations in Germany for 90 years, is among the most important Ford has made in over a technology,” Stuart Rowley, Ford of Europe’s president, stated in an announcement.

“It underlines our dedication to Europe and a contemporary future with electrical automobiles on the coronary heart of our technique for development,” Rowley added.

The enterprise additionally desires its industrial car section in Europe to be zero-emissions succesful, plug-in hybrid or all-electric by 2024.

A ‘transformative’ decade

With governments around the globe saying plans to maneuver away

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