The Indian fintech startup ecosystem secured $778 million in funding in the July-September period, reaching second spot globally after the US in terms of fintech funding raised in the third quarter, according to a report on Tuesday. This growth can be credited to government initiatives such as the promotion of digital payments through UPI, with … Read more
Indian rupee weakened against the US dollar on Tuesday, weighed down by sustained foreign fund outflows and strength of the American currency in the overseas market. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 3,731.59 crore, exchange data showed. While, rising India’s retail inflation … Read more
The Indian housing market saw over 225,000 units being sold during the first nine months of the year, demonstrating strong performance in absolute terms, according to a new report. The sustained positive sentiment in the housing market has encouraged developers to launch new projects and additional phases, resulting in approximately 215,000 new units entering the … Read more
The government has advanced its target for 20 per cent ethanol blending by 2025, reinforcing its commitment to sustainable energy, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Monday. The minister said discussions have already started to develop a roadmap for the future, post the attainment of the 20 per … Read more
The Indian rupee is likely to open mostly unchanged on Tuesday, holding near its all-time low, with the dollar making its way to the highest in more than two months. The decline in oil prices alongside expectations that the Reserve Bank of India will intervene are likely to counter the dollar's rally. The 1-month non-deliverable … Read more
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