With the Federal Reserve on a dollar printing spree to save the American economy from a deeper pandemic hit, the supply of US treasury securities has increased dramatically since March. The RBI has been an avid buyer of these securities, despite the risk of capital loss and low interest rate on these instruments.

A Fed release shows that the aggregate foreign holding of US treasury securities held by all countries increased just 1.6 per cent in four months — from $6.9 trillion towards the end of March to $7.08 trillion towards the end of July. This shows that most countries have been wary of increasing dollar exposure in this period.

But, at 24.3 per cent, India registered the highest increase in US treasury holdings in this period, from $156.5 billion in March to $194.6 billion in July. Next came Ireland, with a 21.8 per cent increase. A few other countries,

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“Going up against a Spotify, I don’t think anyone wants to be doing that,” says Anthony Matchett, the new owner of Napster. Last month, the 32-year-old’s London-based music tech startup, MelodyVR, made waves by announcing a surprise $70m (£52m) reverse takeover of the pioneer of the music streaming revolution. Matchett is hoping that a marriage of MelodyVR, which films and streams gigs, with the 21-year-old Napster will be music to the ears, and eyes, of fans and investors alike.

“There is something very apt about a disruptive company that works with technology like MelodyVR and the original music industry disrupter,” he says. “We see synergies for a service that combines music streaming, immersive content, live events. Something that an Apple Music, a Spotify, or any other service doesn’t provide. Everything a music fan might really want.”

For the time being, the two companies will operate separately, although Matchett doesn’t

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For 16 years, abaTina Boutique has been a beloved local spot for customers to browse, shop, and find a little bliss in Colorado Springs. Owner Tina Fredrickson spent those years pouring her heart and soul into the store and building lifelong relationships with customers. Now, she believes it’s time to move on.

In a recent newsletter, Fredrickson and her daughter and store manager, Jen Johnstone, announced they are looking for a passionate individual interested in buying abaTina.

“We are looking to hand the reins over to a new buyer who will take what we’ve built, bring their unique charms to it, and propel abaTina Boutique to even greater heights,” the letter stated.

“If you, or a group of you, have ever dreamed of owning your own boutique, the timing of our decision couldn’t be better. We are just about to enter the most profitable time of year for retail, and

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By Giuseppe Fonte and Valentina Za

ROME (Reuters) – Italy’s Treasury wants to find a buyer for Monte dei Paschi di Siena by the end of the year to help the bailed-out bank to clean up its remaining problem loans, two sources familiar with the matter said.

The government rescued Monte dei Paschi in 2017, taking a 68% stake for 5.4 billion euros ($6.4 billion), but must sell its holding next year to meet the terms of the bailout negotiated at the time with European Union competition authorities.

To attract buyers, Monte dei Paschi plans to offload 8.1 billion euros in impaired loans to state-owned bad loan manager AMCO.

The deal would cut the ratio of Monte dei Paschi’s problem loans to 4% of total lending, below the industry average and down from peaks of more than 40% before the bailout and 12% currently.

But the European Central Bank has

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Newly public companies are having a great year.

The Renaissance IPO ETF (IPO), which invests in companies that have gone public in the last two years, is outperforming substantially, up over 53% for 2020 and closing in on $100 million in assets under management. The ETF closed up nearly 1% after hitting an all-time high on Friday.

The ETF buys into the top 80% largest companies by market cap that have debuted in the last two years and rebalances quarterly to give the biggest players a chance to be added on a fast-entry basis. Its top holding as of Thursday were Zoom Video, Uber, Pinduoduo, Moderna and Nio.

But there’s a trend emerging that concerns Renaissance Capital co-founder and Chairman Kathleen Smith, she told CNBC’s “ETF Edge” on Monday.

While SPACs, or special purpose acquisition companies, have exploded in popularity this year as a way of “enabling companies that don’t

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(Bloomberg) — The Reserve Bank of India has bought the most dollars among its Asian peers recently, a sign that the central bank may be worried about a sovereign credit downgrade, according to Australia & New Zealand Banking Group Ltd.

It purchased $30 billion of foreign exchange in the four months to July to bolster what is already the world’s fifth-largest FX hoard, according to estimates by Khoon Goh. That accounts for more than half of Asia ex-China’s $55 billion intervention during the period, the ANZ analyst said.

“The persistent intervention even when the Indian rupee had not been under strong appreciation pressure represents a change in the RBI’s forex policy,” the Singapore-based head of Asia research at ANZ, wrote in a note. This could reflect a “desire to build a bigger buffer amid India’s deteriorating fiscal position to safeguard against a further downgrade in the sovereign rating.”

With 4.8%

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