Indian rupee strengthened marginally against the US dollar on Wednesday, tracking firm domestic equities, in spite of strengthening American currency and exodus of foreign funds from Indian equities to China. Foreign institutional investors were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,978.61 crore, exchange data showed. However, some … Read more
The retail inflation rate for farm and rural workers reached 6.36 per cent and 6.39 per cent in the month of September, compared to 6.70 per cent and 6.55 per cent in the same month last year, the government said on Tuesday. The corresponding figures for August were 5.96 per cent for agricultural labourers and … Read more
Air India and Singapore Airlines (SIA) on Wednesday announced to expand their codeshare agreement, adding 11 Indian cities and another 40 international destinations to their network. From October 27, Air India and SIA will codeshare on each other’s flights between Singapore and Bengaluru and Chennai, increasing their total weekly scheduled codeshare services between the countries … Read more
India’s annual GDP growth is projected to be between 7 and 7.2 per cent in FY 2024-2025, a Deloitte report said on Tuesday, which is in line with the Reserve Bank of India’s (RBI) prediction of the country witnessing real GDP growth at 7.2 per cent for FY25. Dr. Rumki Majumdar from Deloitte India said … Read more
Oil prices edged down on Wednesday after industry data showed U.S. crude inventories had swelled more than expected, while the market kept watch on diplomatic efforts in the Middle East as Israel continued attacks on Gaza and Lebanon. Brent crude futures dipped 31 cents, or 0.4%, to $75.73 a barrel by 0011 GMT. U.S. West … Read more
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