Top headlines: FPIs turn positive, Kamala Harris as V-P nominee and more

50% of youth depressed, 17% out of jobs in Covid-19 outbreak: ILO

Half of the world’s youth population is subject to anxiety or depression-causing circumstances and more than a third are uncertain of their future career prospects due to the Covid-19 pandemic, according to a survey by the International Labour Organization. Read more here

Foreign portfolio flows in 2020 turn positive on RBI’s stimulus action’

Foreign portfolio flows (FPIs) into the domestic equities have turned positive on a year-to-date basis. At one point—during end-April, the overseas investors had pulled out $7.1 billion for the year from domestic stocks. Since then, there has been a dramatic turnaround in FPI flows thanks to aggressive stimulus action taken by global central banks leading to softening of yields in the debt market. Read more here

India’s weak fuel demand drags on as coronavirus crisis worsens

India’s fuel demand dragged lower in July, posting its fifth consecutive year-on-year decline, government data showed on Tuesday as a spike in coronavirus cases and floods in many parts of the country restricted economic activity. Read more here

US inks $1.5 bn deal with Moderna for 100 mn doses of Covid-19 ‘vaccine’

The United States has entered an agreement with drugmaker Moderna Inc to acquire 100 million doses of its potential Covid-19 vaccine for around $1.5 billion (£1.15 billion), the company and White House said on Tuesday. Read more here

Biden picks Indian-origin Kamala Harris as his vice president nominee

Democratic nominee Joe Biden has named Indian-origin senator Kamala Harris as his running mate, making history by selecting the first black woman to compete on a major party’s presidential ticket. In choosing Harris, Biden is embracing a former rival from the Democratic primary who is familiar with the rigour of a national campaign. Read more here