Gold was flat on Tuesday as investors await fresh insights on the Federal Reserve's stance on U.S. interest rate reductions for further direction on bullion prices. Spot gold held its ground at $2,646.64 per ounce, as of 0319 GMT. Prices hit a record high of $2,685.42 last month. U.S. gold futures edged 0.1% lower to … Read more
In a boost for local manufacturing, 38 companies have applied for the PLI scheme for white goods (air conditioners and LED lights) with a net committed investment of Rs 4,121 crore in the third round, the government informed on Monday. The third round of the online application window ended on October 12 after being … Read more
India’s Consumer Price Index (CPI) inflation jumped 5.49 per cent in the month of September, up from 3.65 per cent in August, due to high base effect and weather conditions, the government said on Monday. The year-on-year inflation rate, based on the All India Consumer Price Index (CPI), for the month of September was 5.49 … Read more
Oil prices slid 3% in early Asian trade on Tuesday after a media report said Israel is willing not to strike Iranian oil targets, which eased fears of a supply disruption, and after OPEC lowered its outlook for global oil demand growth in 2024 and 2025. Both benchmarks plunged 3% in early trade on Tuesday, … Read more
The U.S. dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term, while the yen inched closer to the key 150 per dollar level. The euro was steady in early Asian hours but close to its … Read more
Asian stocks were mostly higher on Tuesday, supported by a strong Wall Street close and investor optimism about corporate earnings, while the dollar held near a two-month top, aided by bets on a smaller U.S. rate cut next month. Oil prices are down about 3% after Israeli Prime Minister Benjamin Netanyahu reportedly told the United … Read more
Indian shares are likely to open higher on Tuesday, tracking a climb in Asian peers, as traders gauged a record overnight finish on Wall Street and a slump in crude oil prices. The Gift Nifty was trading at 25,236, as of 7:44 a.m. IST, indicating that the benchmark Nifty 50 will open above Monday's close … Read more
Union Minister for Road Transport and Highways, Nitin Gadkari on Monday said that the research on blending 15 per cent ethanol in diesel is in advanced stages, and the Centre is exploring the prospects around how to prioritise it based on sound evidence. Addressing the 12th ‘CII Bioenergy Summit 2024’ in the national capital, the … Read more
The Ministry of Skill Development and Entrepreneurship (MSDE) on Monday announced its partnership with social media giant Meta to integrate artificial intelligence (AI), virtual reality (VR) and mixed reality (MR) into the Skill India ecosystem. As per the partnership, an AI Assistant will be launched for the Skill India Mission; and five Centers of Excellence … Read more
The Indian pharma market grew 5.1 per cent (year-on-year) in September, led by cardiac, dermal and anti-diabetic therapies, a report showed on Monday. For the 12 months ending in September, the industry grew 7.7 per cent YoY, led by price growth and new launches. However, volume growth was moderate at 0.8 per cent (on-year) last … Read more