Indian importers are exploring options strategies to hedge against currency risks amid muted volatility in the rupee, moving away from outright forwards that have become expensive, traders said. Premiums, which reflect the interest rate differential between the United States and India, have surged as the Federal Reserve is expected to embark on a rate-cutting cycle, … Read more
Uttar Pradesh Chief Minister Yogi Adityanath, on Wednesday, highlighted the state's big strides in the semiconductor industry while addressing the SEMICON India 2024 event at the India Expo Mart, here. He extended a warm welcome to the attendees, which included industry leaders and captains of the semiconductor sector. "I welcome you all to this inauguration … Read more
The Maharashtra Government has appointed a Chief Secretary (CS)-led committee for the implementation of the NITI Aayog’s report on making the bursting Mumbai Metropolitan Region (MMR) a growth hub with a $300 billion economy by 2030 from the present $140 billion. The state government, in its Government Resolution (GR) released late on Tuesday night … Read more
Indian rupee strengthened against the US dollar on Wednesday tracking its Asian peers, and as the American currency and crude oil prices retreated. Meanwhile investors are awaiting for US inflation data to be released later today, which could offer cues on the magnitude of an expected rate cut from the Fed later this month. Moreover, … Read more
Driven by the production-linked incentive (PLI) scheme, Apple has reached around $5 billion in iPhone exports from India in the April-August period this fiscal. According to industry data, this is a growth of over 50 per cent from the same period of first five months in FY24. With the country set to commence production of … Read more
India’s total coal production reached 384.07 million tonnes (MT) in the April-August period this fiscal, a growth of 6.36 per cent compared to 361.11 MT during the corresponding period of the previous year, the government said on Tuesday. However, in August, overall coal production decreased slightly to 62.67 MT, down from 67.76 MT in August … Read more
Union Minister of Road Transport Highways, Nitin Gadkari has said that India will soon be in a position to export lithium-ion batteries. The Union Minister said ‘I am confident that we’ll be in a position to export lithium-ion batteries to the different parts of the world. At the same time, the research is going on. … Read more
Gold prices steadied on Wednesday, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve's potential interest rate cut next week. Spot gold held its ground at $2,518.22 per ounce by 0319 GMT. U.S. gold futures rose 0.2% to $2,547.10. "Gold is range-bound in a well-supported market ahead … Read more
India has the capability to become a trusted partner in a diversified semiconductor supply chain globally and the government will follow a predictable and stable policy regime, Prime Minister Narendra Modi said on Tuesday. Chairing the Semiconductor Executives’ Roundtable at his residence in the national capital on the eve of the three-day ‘Semicon India … Read more
Asian markets wobbled and U.S. stock futures slipped on Wednesday after Democratic Vice President Kamala Harris and Republican Donald Trump clashed in a keenly-awaited U.S. presidential debate. The presidential hopefuls battled over abortion, the economy, immigration and Trump's legal woes at their combative first debate. That left investors skittish in Asian trade as markets also … Read more