Gold prices surged to a record high on Wednesday as the conflicts in the Middle East and uncertainty surrounding the upcoming U.S. election spurred demand for safe-haven assets. Spot gold hit an all-time high at $2749.07, before easing by 0.3% to $2,738.79 per ounce as of 0313 GMT, amid some profit-taking. U.S. gold futures were … Read more
India scrapped the export tax on parboiled rice, the government said in an official order on Tuesday, as inventories in the world's biggest exporter of the grain surged and the country is set to produce a bumper crop after copious monsoon rains. Last month, India reduced the duty to 10% from 20% to boost exports, … Read more
The Indian rupee is likely to hold near lifetime low on Wednesday after U.S. Treasury yields climbed to a three-month high with eyes on the presidential election, helping the dollar extend its rally. The 1-month non-deliverable forward indicated that the rupee will open at 84.0750-84.0850 to the U.S. dollar compared with 84.0775 in the previous … Read more
Gold prices jumped to record high and the dollar was on the rise again on Wednesday, keeping the pressure on the yen and the euro, while stocks in Asia stuttered as investors were reluctant to place major bets ahead of a hotly contested U.S. election. The shifting expectations around how fast and deep the Federal … Read more
The U.S. dollar hovered at a 2-1/2-month peak on Wednesday as investors adjusted bets toward a gradual reduction of interest rates while keeping an eye on a close presidential election race. The yen remained under pressure as the dollar and U.S. Treasury yields marched higher, pushing it to a three-month low. The greenback has climbed … Read more
Indian shares will likely open marginally higher on Wednesday, after two straight days of losses on persistent foreign outflows and dull earnings, while Paytm will be in focus after getting approval to onboard new unified payment interface (UPI) users. The Gift Nifty was trading at 24,539 as of 08:00 a.m. IST, indicating that the benchmark … Read more
M-League, India’s leading gaming conglomerate, has announced its financial results for FY24, reporting a 22% rise in total income to $130 million. The company has also achieved break-even with an Adjusted EBITDA of $0.2 million. This growth is despite M-League absorbing headwinds associated with higher GST rates in its India operations. M-League’s portfolio includes Mobile … Read more
Muthoot FinCorp ONE, the all-in-one digital platform from Muthoot FinCorp Ltd., is revolutionising financial management by seamlessly integrating lending, investments, savings, insurance and payments into its one customer-friendly platform, Muthoot FinCorp Ltd said on Tuesday. Beyond traditional gold loans, Muthoot FinCorp ONE offers a diverse range of financial products including from its group companies. These … Read more
Shishir Priyadarshi, President of Chintan Research Foundation on Tuesday said that India's growth in renewable energy is quite phenomenal. Talking to IANS, Shishir Priyadarshi said, "India had phenomenal growth as far as renewable energy is concerned. I will give you just two statistics. In 2013, our total power generation was about 220 to 230 … Read more
Indian shares posted their biggest single-day drop in about three weeks on Tuesday, weighed down by slowing corporate earnings and sustained foreign selling. The NSE Nifty 50 fell 1.25% to 24,472.1, while the BSE Sensex shed 1.15% to 80,220.72. Both the benchmarks gained about 0.4% each in the first hour of trade before reversing gains, … Read more