Globally, gold fell by 0.94 per cent to $1,094.20.
Snapping its 3-day winning spree against the American currency, the rupee on Wednesday dropped by 21 paise to end at 66.64 on fag-end dollar demand from banks and importers despite a sharp rally in domestic equities.
'Washington appears to be playing the long game, and making the argument to India that over the longer term, Russia -- sanctioned, cash-strapped, isolated by the West -- will no longer be a viable defence partner for India'
Increased month-end demand for the US currency from importers put pressure on the rupee
The two sides are also expected to explore ways to deepen defence collaboration, including exercises, defence transfers and technologies ahead of the next edition of the 2+2 defence and foreign ministerial dialogue to be held in the US later this year, they said.
Oil prices jumped nearly $3 a barrel and gold and safe-haven bonds rallied on Friday after the killing of top Iranian commander Qassem Soleimani in an airstrike by the US in Baghdad.
Africa is second only to West Asia as a net exporter of oil.
Major global airlines, including Gulf carriers, are keen to invest in this space.
The shipping business is like the heaving sea -- it's up and down, observes Shyam G Menon.
The Trinamool Congress MP, considered number 2 in the party, also advised Shah to teach nationalism to his son and make sure that the law and order situation improves in Delhi.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
Enthused by rising potato prices after a prolonged slump, Pradeep Sharma was planning to sow the crop on his 15-acre farm near Agra slightly earlier than usual. The delayed departure of the southwest monsoon also prompted his decision, since the good soil moisture would have saved at least one initial irrigation. But the acute shortage of diammonium phosphate (DAP), a crucial nutrient ahead of the sowing season for potatoes, nipped those hopes in the bud. DAP is the second-most used fertiliser in the country after urea.
Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But that may not necessarily mean flow of more investments into India, unless investors are assured, besides important economic factors and impartiality of institutions, that social disharmony will not cause unexpected disruptions.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
This rally is largely being driven by hopes that the Modi government will drive economic growth higher, and, thus, increase earnings growth for companies.
High frequency indicators suggest that a growth recovery is underway, but very tentatively and with weak legs, says Saugata Bhattacharya.
The Salman-starrer rakes in Rs 26.4 crore on opening day; more expected on day of Eid
Whoever can make acquiring smartphones more affordable will win the sales game.
After the latest spike in crude oil prices, petrol prices could potentially go up to around Rs 90 a litre making a dent in the consumer's wallet. This, the analysts fear, will push the cost of vehicle ownership in the country, further reducing the demand potential for the industry.
'There will be some issues of contention, especially on H1B visa and on trade policy.'
"South Asian studies" academics in the US would do well to introspect how they wittingly or unwittingly become part of Pakistan's proxy war in wielding influence over academics and policy, says Sankrant Sanu.
Indian companies place orders worth $600 million for US crude, which is likely to increase by nearly $2 billion in the near future.
A weakening dollar against other currencies overseas supported the rupee.
British Prime Minister Boris Johnson, who landed in Ahmedabad on Thursday morning on a two-day India visit, was accorded a grand welcome at the airport in Ahmedabad. Soon after, he visited Sabarmati Ashram in the company of Gujarat Chief Minister Bhupesh Patel.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
India has the ability in all respects to be a great power and address our security challenges in the best national interests, says Commodore Venugopal Menon (retd).
GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia's third-largest economy, chairman Manoj Jain said. India's No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies. "In 3Q (October-December 2021) we preponed a couple of cargoes (LNG shiploads) from supplies that we were to receive next year and we did it again in the current quarter," Jain told PTI. This is because US LNG costs one-third of the price of gas available in the spot or current market.
Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
.jpg)
The company will be increasing the prices of its compact car Beat, SAIL and multi-purpose vehicle Enjoy by 1.5 per cent, which translates to a range of Rs 2,000 to Rs 10,000.
Forecasts of a further rise in bullion prices keep Indians away from selling gold.
'I am seven months into the job, but it feels like seven years.'
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
Iran is preparing for a trade and investment boom that could reshape the region after agreeing with world powers to curb its nuclear programme, paving the way for sanctions that have stifled its economy to be lifted.
So far, almost every positive development in terms of the bilateral ties has been overtaken by innate hostility that is often driven by popular sentiments.
The reduction of tension on the Chinese border may have reduced the urgency of a Biden-Modi meeting, but the sooner Modi starts a bromance with Biden the better as he had done with Obama and Trump, suggests Ambassador T P Sreenivasan.
The report said South Asia is expected to be the fastest-growing region.
The rupee was trading lower at Rs 61.38 after dipping to 61.74 (intra-day).
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
India is the world's fourth-largest importer of natural gas, accounting for six per cent of the global market.
