In early Asian trade on Friday, oil prices surged, poised to achieve their first weekly gain in two months, fueled by a positive outlook on oil demand from the International Energy Agency (IEA) for the coming year and a decline in the value of the dollar. According to Reuters, Brent futures experienced a 9-cent increase, […]
Overall logistics costs in India are in the range of 7.8-8.9 per cent of the country’s total GDP, a report released by the economic policy research think tank National Council of Applied Economic Research (NCAER) stated on Thursday. The central government has been working to reduce the overall logistics costs and enhance the competitiveness of […]
Financial market participants in India will closely monitor the outcome and the policy stance of the central bank, the Reserve Bank of India (RBI), to be announced at 10 am Friday (today), for fresh cues. As things stand, the monetary policy committee is most likely to maintain status quo. The three-day bi-monthly monetary policy committee […]
Gold held its ground on Tuesday after touching a six-month peak, buoyed by expectations the US Federal Reserve has concluded its interest rate hikes, ahead of the release of key economic data. Spot gold was steady at USD 2,013.59 per ounce by 1306 GMT, after hitting its highest since May 16 earlier in the session. […]
Since China is the world’s largest trading nation, a slowdown in its economy is likely to affect its trading partners. Certain Asian nations like Taiwan, Malaysia, Korea and Thailand and African countries such as Congo, Zambia, Angola and Gabon are likely to be more vulnerable due to their significant exposure to China, CareEdge Ratings has […]
The Indian rupee rose on Monday, but higher near-maturity US Treasury yields were expected to limit the upside for the currency. The rupee was at 82.61 against the US dollar by 10:35 a.m. IST, compared with 82.6475 in the previous session. The domestic currency reached an intraday high of 82.5325. The two-year US Treasury yield […]
India’s current account deficit narrowed sharply in the January-March 2023 quarter, RBI data showed on Tuesday, attributable to a moderation in the trade deficit and robust services exports. India’s CAD decreased to USD 1.3 billion (0.2 per cent of GDP) during the quarter from USD 16.8 billion (2.0 per cent of GDP) in the October-December […]
Vedanta has announced its plans to invest USD 1.7 billion in the current financial year to expand its business operations. Chairman Anil Agarwal shared this information in the company’s Annual Report for the financial year 2022-23. The company has already invested USD 1.2 billion in growth capital expenditure during the same period to enhance its […]
When the International Monetary Fund (IMF) called the Indian economy a “bright spot” in an otherwise dark immediate future for the world economy, it was met with cautious optimism by the decision-makers in India. The truth is that PM Modi and his team had hunkered down in the immediate aftermath of the headwinds of the […]
Shopify has launched the Shopify Entrepreneurship Index, highlighting the significant growth and influence of Indian entrepreneurs on the country’s economy. The data reveals the crucial role played by Indian entrepreneurs on Shopify, contributing to the national GDP and creating employment opportunities. In 2022, Indian entrepreneurs contributed Rs 139 billion to the national GDP, an increase […]
