The Tamil Nadu government has signed an MoU with American construction and engineering equipment manufacturing company Caterpillar to expand its operations in the state, an official statement said on Thursday. The company will invest an amount of Rs 500 crore for expanding the operations of the company in Krishnagiri and Tiruvallur districts, the state government … Read more
The upcoming festive season in India is likely to see the creation of up to 10 lakh jobs with a notable surge in gig and female workforce participation, a report showed on Thursday. The festive season is expected to bring a significant boost in job opportunities, with a 35 per cent increase in both … Read more
India's bio-economy has experienced remarkable growth, skyrocketing from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030, Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh, said on Thursday. Speaking at the inaugural ceremony of ‘Global Bio India 2024’ in the national … Read more
The Indian rupee is expected to rise on Friday after media reports prompted investors to pile into wagers that the U.S. Federal Reserve may cut interest rates by 50 basis points next week. The 1-month non-deliverable forward indicated that the rupee will likely open at 83.92-83.94 to the U.S. dollar, compared with 83.9650 on Thursday. … Read more
Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of a U.S. interest rate cut next week, while palladium has gained 15% so far this week. Spot gold was up 0.2% at $2,565 per ounce, as of 0258 GMT, after hitting a record high of $2,567.93 earlier in the … Read more
The dollar on Friday slumped against the yen while gold hit an all-time peak as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week after media reports suggested the decision was a tough one for officials. Shares in Asia also advanced after traders raised bets back to 41% for a … Read more
The dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks ahead of next week's central bank bonanza where the focus is on the Federal Reserve and the size of its expected interest rate cut. While the Fed is all but certain to cut rates next week, … Read more
India's growth potential is 7.5% or more, the country's central bank chief said on Friday, which is a little above the bank's full-year forecast for 2024 of 7.2%. "I think India's potential growth today … is about seven-and-a-half-percent-plus," Reserve Bank of India Governor Shaktikanta Das said at the Bretton Woods Committee's annual Future of Finance Forum. … Read more
Oil prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana. Brent crude futures rose by 34 cents, or 0.5%, to $72.31 per barrel by 0016 GMT. U.S. West Texas Intermediate crude futures … Read more
Indian shares are set to open flat on Friday, after a sharp rally in the previous session to an all-time high, with traders expecting markets to consolidate near current levels. The GIFT Nifty was at 25,384.5 points, as of 08:17 a.m. IST, indicating the NSE Nifty 50 will open near Thursday's record closing high of … Read more