The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Global financial markets are wrong in hoping that the worst is over in geopolitical crises such as the Iran-Israel conflict and the Russia-Ukraine war, wrote Christopher Wood, global head of equity strategy at Jefferies, in a recent note to investors called 'GREED & fear'. While most investors and the media are focused on United States (US) Federal Reserve policy and the "endless chatter" of Fed governors, Wood believes the news flow in the financial sphere "pales into complete insignificance" compared with the "tectonic shifts" going on in geopolitics.
Travels to Gulf accounted for 40% of India's international air traffic in 2016.
All investors should ideally have a 10 to 15 per cent allocation to gold. Whether they invest in gold ETFs or SGBs should depend on their investment horizon.
"The conference will signal broad international support for the Israeli and Palestinian leaders' courageous efforts and will be a launching point for negotiations leading to the establishment of a Palestinian state and the realization of Israeli-Palestinian peace," State Department spokesman Sean McCormack said in Washington on Wednesday.
India on Friday asked its citizens not to travel to Iran and Israel amid increasing fears that Tehran may launch an attack on Israeli soil in retaliation to a strike on the Iranian consulate in Syria 11 days ago.
TVS Motor Company met expectations in terms of revenue and posted a strong margin performance in Q1FY25. The key drivers were material cost savings and a better mix. The domestic demand outlook looks good with a rural rebound but geopolitical uncertainties in key export markets may dent overall growth.
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
From being on the verge of war and violence, West Asia has actually got a sudden reprieve. Seema Mustafa explains
'China is India's primary strategic challenge, which will not go away.
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
When S Jaishankar became India's external affairs minister in May 2019, he was largely considered a political lightweight despite his undisputed mastery over foreign policy.
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
L&T surprised on the upside of consensus due to stronger-than-expected growth overseas. The Q1FY25 results were ahead of estimates on both revenue and net profit fronts. The company reported a 15 per cent year-on-year (Y-o-Y) growth in revenues along with 15 per cent Y-o-Y growth in operating profit and 12 per cent Y-o-Y growth in net profit on consolidated basis.
The prime minister's visit will begin from Palestine on February 10 after transiting through Jordan, where he will meet King Abdullah II.
A new West Asia is emerging and India must engage at the highest level and help shape this change, says Saeed Naqvi
The travel and tourism sector's contribution to global gross domestic product will return to pre-pandemic levels by the end of 2024, according to a new report by the World Economic Forum (WEF) on Tuesday. This recovery is driven by a considerable increase in worldwide demand, coinciding with more available flights, better international openness, and increased interest and investment in natural and cultural attractions.
As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
'Given that the situation is quickly escalating, such attacks will affect the flow of crude in the short term from West Asia' Subhayan Chakraborty and Dhruvaksh Saha report.
Ahead of his much-anticipated visit to conflict-torn Ukraine, Prime Minister Narendra Modi on Thursday said India firmly believes that no problem can be solved on the battlefield and it is ready to extend all possible cooperation for the restoration of peace and stability in the region.
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
Israeli Prime Minister Benjamin Netanyahu termed it the 'largest cooperation project in our history', one that would 'change the face of the Middle East, Israel, and impact the entire world'.
Talmiz Ahmad is a former Indian ambassador to Saudi Arabia, Oman and the UAE. In an interview with Aditi Phadnis, he says the disequilibrium in Iraq will continue to prevail. Ahmad also says there are indications that the US is now anxious to avoid intervening militarily in West Asia, and that this is the appropriate moment for Asia to assume responsibility for its own security. Edited excerpts:
Global consumer preferences can be influenced through music, films, literature, yoga and sports because they create interest and a sense of familiarity that can help our businesses to access foreign markets, suggests T N C Rajagopalan.
India's merchandise exports rose by 9.1 per cent to $38.13 billion in May even as the trade deficit widened to a seven-month high of $23.78 billion during the month, according to government data. Healthy growth in sectors, such as engineering, electronics, pharmaceuticals, textiles and plastics helped register growth in exports despite global economic uncertainties.
Raisi's condition currently remains unknown, Iranian state news agency IRNA has reported, after the helicopter he was traveling in crashed in the country's East Azerbaijan Province.
With the fight now having been taken to the seizure of nuclear plants, it is one more warning to Europe that this prolonged war could end up with disastrous consequences, observes Rashme Sehgal
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
Pezeshkian gained the attention of people for his stance against the crackdown on the 2009 pro-democracy protests and the violence perpetrated by the notorious morality police in 2022 after Mahsa Amini's death.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Sources are in touch with Iranian authorities through diplomatic channels, both in Tehran and in Delhi.
The new Samvat 2080 is viewed as a year of hope for industrial and precious metals. A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
Iran's Islamic Revolution Guard Corps (IRGC) said the attack was aimed at "specific targets".
As many as 73 people have been killed and 170 injured in twin blasts near the burial site of Iranian military commander Qasem Soleimani in the Iranian city of Kerman on Wednesday in what officials called a terror attack, according to state media, as per CNN.
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