Gold prices were flat on Monday, as investors awaited U.S. inflation print due this week to strengthen their bets on the size of a likely reduction in Federal Reserve's interest rates. Spot gold held its ground at $2,497.25 per ounce, as of 0305 GMT. U.S. gold futures edged 0.1% higher to $2,526.10. Major data points … Read more
Global aerospace major Boeing on Sunday announced it has reached a tentative pay agreement with the International Association of Machinists and Aerospace Workers (IAM) which represents more than 33,000 employees. The pact has ended weeks of intense negotiations and avoiding a potential strike. “We've heard what’s important to you for the new contract. And we … Read more
With an aim to ensure less burden on the taxpayers, the 54th GST Council meeting on Monday is likely to deliberate on a slew of issues, including rate rationalisation, taxation of insurance premiums, online gaming, and more. According to industry sources, the GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, is also likely to … Read more
Asian share markets slid on Monday after worries about a possible U.S. economic downturn slugged Wall Street, though U.S. stock futures did rally from an early dip and bond yields came off their lows. Data on consumer prices (CPI) from China showed the Asian giant remained a driver of global disinflation, with producer prices falling … Read more
The dollar held to tight ranges on Monday while the yen pared its safe-haven gains, as investors were undecided on the scale of a Federal Reserve rate cut expected later this month and looked to this week's U.S. inflation reading for more clues. In China, data showed consumer prices accelerated in August to the fastest … Read more
In a major move to position Uttar Pradesh as a key player in semiconductor manufacturing, the Yogi Adityanath-led government is set to host Semicon India 2024 at the India Expo Mart in Greater Noida from September 11 to 13. This event, which will be organised in collaboration with SEMI, Messe Muenchen India, and the … Read more
The Indian rupee is likely to open weaker on Monday, tracking the decline in Asian equities and currencies fuelled by U.S. slowdown worries. The 1-month non-deliverable forward indicated that the rupee will open at 83.97-83.98 to the U.S. dollar compared with 83.9475 in the previous session. The rupee for a large part of last week … Read more
Indian shares are set to open flat on Monday as concerns over the health of the U.S. economy persist after a weaker-than-expected jobs data, while analysts expect profit-taking for local stocks that are trading near record highs. The GIFT Nifty was at 24,842.5 points as of 8:10 a.m. IST, indicating the NSE Nifty 50 will … Read more
India's equity market witnessed a sharp fall last week by breaking a three-week streak of consecutive weekly gains. Nifty was down by 1.52 per cent and Sensex by 1.43 per cent between September 2 and September 6. The benchmark indices fell this week led by weaker global cues. "One key factor could be weaker job … Read more
There is a huge scope of growth in logistics industry with over 300 initiatives and Rs 80 lakh crore being earmarked for the growth of this sector, Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development and Entrepreneurship, said on Saturday. The minister said the government is also creating an enabling ecosystem for the … Read more