Gold prices spurted on the bullion market on Wednesday on the emergence of buying by stockists triggered by a rising trend in international markets and closed with notable gains.
Manufacturing activities in India touched a three-month high in November as new orders and exports expanded boosted by demand resilience and substantial easing of cost pressure, according to a monthly survey released on Thursday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 55.7 in November, up from 55.3 in October, signalling the strongest improvement in operating conditions in three months. The November PMI data pointed to an improvement in overall operating conditions for the 17th straight month.
Price hikes of controlled petroleum products such as diesel, cooking gas and kerosene have been happening annually in the month of June, irrespective of the companies' losses.
All Chinese nationals on the board of digital payments firm Paytm have been replaced by US and Indian citizens, while there is no change in existing shareholding, according to a regulatory filing of the company. Alipay representative Jing Xiandong, Ant Financial's Guoming Cheng, and Alibaba representatives Michael Yuen Jen Yao (US citizen) and Ting Hong Kenny Ho have ceased to be directors of the company, as per the regulatory document. According to a source, Paytm now has no Chinese national on its board.
He also launched a strident attack on Prime Minister Narendra Modi, saying he was 'globe-trotting', afraid of facing questions over the Manipur violence.
IMAGES from the first semi-final of the ICC World Cup played between India and New Zealand at the Wankhede stadium in Mumbai on Wednesday.
Packed to the brim with features that were missing in its predecessor, the all-new Scorpio N is a huge step forward, says Rajesh Karkera.
Jet fuel will cost Rs 37,300 per kl in Mumbai, home to the nation's busiest airport, from Rs 38,246.60. The reduced rates will help cash-strapped airlines cut fuel cost, which constitutes roughly 40 per cent of their operational cost.
As a sporting spectacle Alcaraz and Djokovic matches have delivered on every level and would be worthy of the Big Apple spotlight.
The long queue outside Cellular Jail is a testimony to its place in India's national consciousness. The Andamans is also where the only British viceroy was assassinated and where Bose unfurled the Tricolour for the first time in 1943.
Gold, silver, copper hit multi-year lows, Brent crude near $100 a barrel.
Loses notional value by 37.5% because of markdowns by investors
The price cuts by Coke and Pepsi follow the launch of the 200 ml size last year for Rs 5.
The prices of food items like mutton rose by 14 per cent, arhar by 9 per cent, gram by 4 per cent, fruit and vegetables by 2 per cent during the week. However, a major decline was registered in mineral index, as prices fell by 16.8 per cent mainly due to softening iron ore prices by 24 per cent and felspar by 3 per cent.
In a double delight, retail inflation eased to a one-year low of 5.72 per cent - staying below the upper tolerance limit for two months in a row, while factory output rose sharply to 7.2 per cent on the back of healthy growth in manufacturing. The retail inflation numbers based on Consumer Price Index (CPI) will provide some room for the Reserve Bank to further moderate the quantum of hike in key interest rate or even press a pause button. The RBI has been on a rate hiking spree since May 2022 in its bid to tame inflation, having raised the repo rate by a cumulative 225 basis points (bps).
The bill seeks to reserve one-third of all seats for women in the Lok Sabha and the state legislative assemblies.
The restructuring of UTI, which started seven years ago when the country's oldest mutual fund failed to meet redemption obligations, is nearly complete.
Reserve Bank of India (RBI) on Wednesday upped inflation projection for the current fiscal to 6.7 per cent from 5.7 per cent forecast in April. RBI Governor Shaktikanta Das said the upside risk to inflation persists and the recent spike in tomato prices would fuel food inflation. Also, high global crude oil prices would add to the upside pressure on inflation. The upward revision in inflation projection comes as domestic retail inflation has remained above RBI's comfort level of 6 per cent for four months in a row, mainly due to the Russia-Ukraine war which has impacted the prices of commodities across the globe.
The wholesale price inflation was negative for 10 weeks in a row, but retail prices of items consumed by people in villages rose at the rate of nearly 13 per cent in the month of July.
Global Food Price Index showed a sharp jump in June.
Gandhi also said the idea of 'One Nation, One Election' was aimed at distracting from real issues of the people.
The wholesale price-based inflation rose to a four-month high of 14.55 per cent in March, mainly due to hardening of crude oil and commodity prices, even though vegetables witnessed easing of price pressures. As per the government data released on Monday, WPI inflation has remained in double digits for the 12th consecutive month beginning April 2021. The last time such a level of WPI was recorded was in November 2021, when inflation was 14.87 per cent.
Toyota Kirloskar Motor on Tuesday said it is recalling around 994 units of its recently launched mid-sized sports utility vehicle Urban Cruiser Hyryder to fix a faulty seat belt part. In a statement, the company said it has initiated a voluntary recall campaign for certain Urban Cruiser Hyryder units to investigate for a possible issue with front seat belt shoulder height adjuster plate assembly. Around 994 vehicles of the specified models may have been impacted by this concern, Toyota Kirloskar Motor (TKM) said in a statement.
The Reserve Bank of India on Friday raised the retail inflation target for the current financial year to 5.7 per cent on the back of rising global prices amidst the ongoing geo-political tensions, even as it expected the prices of cereals and pulses to soften on prospects of good winter crop harvest. "Global food prices along with metal prices have hardened significantly. "Economy is grappling with a sharp rise in inflation... Inflation is now projected at 5.7 per cent in 2022-23 with Q1 at 6.3 per cent; Q2 at 5 per cent; Q3 at 5.4 per cent and Q4 at 5.1 per cent," RBI Governor Shaktikanta Das said while unveiling the first monetary policy review for the current fiscal year.
Extending gains for the fifth day in a row, gold prices surged to a 52-week high here at Rs 15,000 per ten gram on aggressive buying by funds in line with firming overseas trend.
The likelihood is that India will maintain a moderately upbeat economic tempo -- well short of tearaway growth, explains T N Ninan.
The party is very much united and working together, the AICC general secretary organisation said.
Retail inflation dropped marginally to 7.01 per cent in June mainly due to slight easing in prices of vegetables and pulses, though it still remained above the Reserve Bank's comfort level for the sixth month in a row. The consumer price index (CPI) based inflation stood at 7.04 per cent in the preceding month of May and 6.26 per cent in June 2021. Inflation in the food basket in June 2022 was 7.75 per cent, compared to 7.97 per cent in the previous month, as per the National Statistical Office (NSO) data released on Tuesday.
A clutch of global financial institutions led by T Rowe Price, HSBC and an investment arm of the Government of Singapore are the lead investors in the Rs 600 crore (Rs 6 billion) qualified institutional placement (QIP) issue of UB Holdings.
The termination of the MoU came after the deal with the Brazilian government for supply of 20 million doses of the vaccine landed in controversy and attracted investigation by authorities in that country.
Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to $34.98 billion in May, while the trade deficit widened to a five-month high of $22.12 billion. According to the data released by the commerce ministry on Thursday, key export sectors recording negative growth include petroleum products, gems and jewellery, engineering goods, ready-made garments of all textiles and chemicals. Imports also declined 6.6 per cent, six-month in a row, to $57.1 billion against $61.13 billion in the same month last year, the data showed.
The hike comes on back of two massive hikes effected on February 1 and 16.
Zimbabwe beat Bangladesh by 183 runs in the first Test to record their first win in more than two years.
The country's chief economic adviser Kaushik Basu had last month said he expects the hike in fuel prices to lead to one percentage point rise in inflation.
Food prices saw a sharp rise of 3.12 per cent in March compared to 2.69 per cent in the previous month
The task of Union Finance Minister Arun Jaitley to keep inflation under check, even when the country reeled under severe drought for two years in a row, and reduce the current account deficit, was made easier by low crude oil prices.
Fine arts auction house Christie's on Thursday sold artist MF Husain's paintings, including one for a hammer price of $ 1.4 million. Outside the Christie's building in New York, up to 30 supporters of the Indian American Intellectual Forum staged a two-hour protest chanting 'Shame, shame, MF Husain' and 'Boycott Christie's!'. At least 12 of Husain's paintings were auctioned, where the theme was South Asian Modern and Contemporary Art.
The funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
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