India’s data centre market, valued at $7 billion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 8 per cent to reach $8 billion by 2025, a report showed on Thursday. Additionally, the country’s data centre capacity is set to expand from 1,150 MW in 2023 to 1,700 MW by … Read more
Indian shares are set to open little changed on Friday after a three session losing streak that was sparked by an exodus of foreign funds and disappointing results from marquee companies. The Gift Nifty was trading at 24,728 as of 08:20 a.m. IST, indicating that the benchmark Nifty 50 will open near its close of … Read more
The Indian rupee is poised to open nearly flat on Friday amid a rally in the dollar index and U.S. rates and expectations that the country's central bank will aid the local currency. The 1-month non-deliverable forward indicated that the rupee will open barely changed to the U.S. dollar from 84.0675 in the previous session. … Read more
Gold breached the $2,700-per-ounce level on Friday for the first time ever, as U.S. election jitters and simmering Middle East tensions boosted safe-haven demand, while a looser monetary policy environment also added fuel to the rally. Spot gold firmed 0.5% to $2,706.76 per ounce by 0220 GMT, adding nearly 2% so far in the week. … Read more
The Australian dollar and Chinese yuan ticked higher on Friday after China's closely watched third-quarter growth figures came in slightly better than forecasts, but kept the pressure on policymakers to roll out more stimulus quickly. Elsewhere, the dollar was headed for its third weekly gain in a row, helped by a dovish European Central Bank … Read more
Asian stocks traded cautiously on Friday after a mixed reading on the health of China's economy, while Japanese markets were buoyed by a weaker yen. The dollar hovered close to an 11-week high versus major peers on Friday after robust U.S. economic data allowed for a more patient path of Federal Reserve easing. The U.S. … Read more
Crude oil futures inched higher on Friday, supported by a surprise drop in U.S. oil inventories and simmering Middle East tensions, but prices were headed for their biggest weekly loss in more than a month on worries of lower demand. Brent crude futures rose 16 cents, or 0.2%, to $74.61 a barrel by 0025 GMT … Read more
Adani Enterprises Limited (AEL) on Thursday said it has successfully raised $500 million (about Rs 4,200 crore) primary equity via qualified institutional placement (QIP) to further its growth plans. The flagship company of the Adani Group completed the QIP of face value of Rs 1 each, aggregating to Rs 4,200 crore. A total of 1,41,79,608 … Read more
India has the potential to become a science and technology-driven global biomanufacturing hub, the government has stressed. Union Minister of State for Science and Technology (Independent Charge), Dr Jitendra Singh, said the country should have a global vision about biochemical manufacturing and global strategies should be devised for this. Addressing an event at the CSIR-NIIST … Read more
India is poised to become the content creation capital of the world, with the market projected to grow from the current $30 billion to $480 billion by 2035, Union Minister for Communications Jyotiraditya Scindia has said. Addressing a panel discussion during the ‘India Mobile Congress 2024’ in the national capital, the minister emphasised the democratisation … Read more