The announcement comes as the military conflict between Hamas militants and Israel continued for the fifth day.
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.
India's solidarity with the Palestinian cause dates back to Mahatma Gandhi's time and its rising global stature and influence over all key players in West Asia make it well-placed to play a crucial role in defusing the crisis arising out of the Israel-Hamas conflict, Palestine Ambassador Adnan Abu Alhaija said on Tuesday.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
The foreign ministry's statement came amidst the reported visit of Foreign Minister Sun Weidong to Pakistan on a mediation mission.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
US President Joe Biden is set to meet his Chinese counterpart on Wednesday in the San Francisco Bay Area, CNN reported, citing senior US administration officials.
As Donald Trump registered a historic comeback in the US presidential election, many former Indian diplomats on Wednesday concurred that the India-US ties will "continue to grow" from strength to strength, even as some of them cautioned that Trump is "highly unpredictable" and New Delhi will have to "wait and watch" to see what position he adopts going forward.
The Indian Navy, which regards itself as the 'net security provider' in the Indian Ocean Region, has also stepped up to the plate, with a warship stationed at all times off the Gulf of Aden for counter-piracy tasks. 91 Indian warships have been deployed in the region since 2008, patrolling high risk areas where piracy was rampant.
India, the world's third biggest oil consumer, meets more than 80 per cent of its oil needs through imports.
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
As China's Foreign Minister Sun Weidong visited Pakistan on a mediation mission, a statement from Foreign Ministry on Monday said it is maintaining close contacts with Pakistan and Iran to 'bridge their differences'.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
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.
Among the Sensex firms, UltraTech Cement, Reliance Industries, ICICI Bank, HDFC Bank, Bharti Airtel, IndusInd Bank, State Bank of India, Tata Consultancy Services, Larsen & Toubro, Kotak Mahindra Bank and State Bank of India were the major gainers. In contrast, Tata Motors, Maruti, Axis Bank, Mahindra & Mahindra, ITC, NTPC, Tata Steel and Bajaj Finserv were the major laggards.
The escalation of conflict in the West Asian region is expected to push already high logistics costs besides hurting trade in sectors such as oil, electronics and agriculture, according to exporters. They said that insurance costs for exports to the countries directly involved in the war could also go up, which will impact Indian exporters' working capital. Think tank Global Trade Research Initiative (GTRI) stated that the conflict is already hurting India's trade with countries like Israel, Jordan, and Lebanon.
Taking a dig at Pakistan without naming it, Prime Minister Narendra Modi on Friday said a country which was a supplier of aatank (terror) is struggling for aata (flour) these days.
Stocks in the automotive, financial, cement, metal, and hotel sectors are likely to benefit if the Narendra Modi-led Bharatiya Janata Party (BJP) comes back to power for a third time. The key investment themes have been identified after analysing the Sankalp Patra - the party's manifesto for the next five years - released on Sunday.
Putin said that the Indian leader had "aptly" noted that it is "not an anti-western one but a non-western one".
Putin expressed concern over the situation in Gaza, and said Palestinian President Mahmoud Abbas has been invited to BRICS events.
Most of India's oil supplies are expected to stay safe because of the country's good relations with both Russia and Iran. That would take care of over a third of India's supplies.
India's merchandise exports dipped marginally in March to $41.69 billion, and by 3.11 per cent during the last fiscal year to $437.06 billion mainly due to continued geopolitical turmoil, and depressed global trade. Imports, too, declined in March as well during the entire 2023-24. Trade deficit, or the gap between imports and exports, narrowed 17.74 per cent in March to $15.6 billion and came down 9.33 per cent to $240.17 billion in FY24.
Although India-US relations have strengthened significantly in recent years, partly because of the security situation in the region, the Indian policy establishment would have to be prepared to protect India's interests in a world that could get more unpredictable.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. The Iran and Israel conflict has escalated over the last few days. Iran first launched drone and rocket attacks on Israel, which retaliated by firing a missile. Crude oil prices have hovered around USD 90 per barrel since the conflict.
Israel said it had conducted a joint missile test with the United States over the Mediterranean Sea on Tuesday, hours after Russia's announcement of its detection of missile launches added to jitters about possible military action against the Syrian regime.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
US central command said that several US personnel are undergoing evaluation for "traumatic brain injuries" and at least one Iraqi service member was wounded in the attack.
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
While Rohit Sharma will be eager to test his ultra-aggressive batting template against the Asian giants, for Virat Kohli it is the perfect platform to return to form after enduring a tough phase in the last few years.
As global tensions put pressure on the cost of crude oil, sending petrol prices above 1 a litre across the UK, This is Money investment writer Philip Scott investigates how investors can profit from rising oil prices.
In the Indian markets, along with the international gold prices, the rupee rate and government taxes also play an important role in determining gold prices.
Israel temporarily put on hold a decision on a possible ground invasion of Gaza to give more time to Egypt's truce efforts, but seven days of incessant raids took the Palestinian death toll to 111 amid warnings by Hamas that it won't succumb to Israeli conditions.
Bahrain has of late emerged as a regional hub for banking because of low tax rates and easy regulations. At present, 409 banks and financial institutions have operations there.
Putin said work would be completed on building storage units for tactical nuclear weapons in Belarus on July 1, a move he likened to US nuclear deployments in Europe.
Organisers hope a high-tech opening ceremony on Saturday will help drum up excitement for the Games. Interest at home has been muted as the economy sputters and some question the cost of hosting the mega-event.
BCCI puts Asia Cup in Pakistan on Indian team's roster for 2023
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