Tomato prices have recently shot up in the markets across the country from Rs 10-20 per kg to a price of Rs 80-100 per kg. The reason behind this is the dip in supply due to heatwaves in tomato-growing areas and heavy rain. Ajay Kedia, a Mumbai-based commodity market expert and head of Kedia Advisory […]
Chairman and Managing Director of Food Corporation of India Ashok KK Meena said that the central government has directed the agency to conduct the e-auctions of wheat and rice to check the “inflationary trends” and to control the price of such staple foodgrains. The maximum quantity that a buyer can bid for is limited to […]
Fitch Ratings has raised the global growth forecast for 2023 to 2.4 per cent from its March estimate of 2.0 and noted that economic activity the world over is holding up better than as was expected. “The biggest upgrades have been to emerging markets (EM) where incoming (macro) data have been a lot stronger than […]
A recent industry analysis conducted by ICRA foresees that fashion retailers will see a moderation in revenue growth and a decline in operating profit margins (OPMs) in the current fiscal year (FY2024). The report, based on the analysis of 11 listed retail entities, suggests that revenue growth is expected to moderate to 10 per cent, […]
Wholesale inflation in India based on the Wholesale Price Index continued to stay in the negative zone in May. It hit a three-year low at minus 3.48 per cent in May, as against minus 0.92 the previous month, official data released by the Ministry of Commerce and Industry showed on Wednesday. The decrease in wholesale […]
With headline inflation based on the consumer price index (CPI) dropping near Reserve Bank of India (RBI) target, manufacturing on revival, Indian economy on a steady upturn, said Deepak Sood, Secretary General, Assocham. In May, India’s CPI inflation moderated to an almost 25-month low to 4.25 per cent as compared to 4.70 per cent in […]
Australian lender Westpac Banking Corp (WBC.AX) is set to cut approximately 300 jobs in its consumer and business banking divisions, the news agency Reuters reported. According to the report, the Finance Sector Union of Australia (FSU) cited an internal memo from Westpac as the source of the information. These potential job losses, which represent 0.8 […]
The prices of food items in Pakistan have increased by 100 per cent this year compared to last year, as per the Pakistan Bureau of Statistics, Daily Dunya reported. Daily Dunya is an Urdu daily newspaper from Pakistan. In 1922, a bag of 20 kg flour was 1400 rupees, it has now exceeded 2300 rupees, […]
The Reserve Bank of India (RBI) has lowered India’s inflation projection for 2023-24 to 5.1 per cent against its April estimate of 5.2 per cent. On a quarterly basis, retail inflation (or Consumer Price Index) in Q1 is seen at 4.6 per cent, Q2 at 5.2 per cent, Q3 at 5.4 per cent, and Q4 […]
Food inflation may soften in quarter one (Q1) of the financial year (FY) 2024 with upside risks seen, said the rating agency Icra in the monthly research compendium. It also said that second advance estimates (SAE) suggested a healthy year-on-year (YoY) rise in the output of rabi crops in FY2023 The SAE of crop production […]
