As U.S. President Joe Biden pushed for lower fuel prices, putting pressure on significant U.S. corporations to lessen the burden on drivers during the nation’s peak summer demand, oil prices fell in early trade on Wednesday. While Brent crude prices declined $1.33, or 1.2 percent, to $113.32 a barrel at 0031 GMT, U.S. West Texas …
Oil prices fell almost 5% to a three-week low on Friday, prompting investors to fear that interest rate rises by major central banks would slow the global economy and reduce energy demand. Shares of energy companies fell up to 17% on the BSE in Monday’s session. In intra-day trading on the BSE, Mangalore Refinery & …
The State Bank of India (SBI) has reshuffled its senior management and subsidiaries to improve efficiency, according to a media report published on Thursday. The portfolios of all four MDs have been reshuffled, according to the Indian Express story. SBI’s fourth MD, Alok Kumar Choudhary, DMD (Finance), was inducted. According to the article, he is …
India urged the World Trade Organization (WTO) on Monday to allow exports of food grains from public reserves for international food aid and humanitarian purposes, particularly on a government-to-government basis, because the UN’s World Food Programme was unable to meet demand. Commerce and Industry Minister Piyush Goyal stated during an agro intervention at a WTO …
On Friday, the price of gold rose by Rs 250 from the previous day’s closing to Rs 52,310 for a gramme of 24-carat gold. In the meantime, a gramme of 22-carat gold costs Rs 47,950. Although gold is utilised as an inflation hedge, rising interest rates raise the opportunity cost of owning the non-yielding asset. …
Based on inflationary pressures, supply-chain challenges, and geopolitical concerns resulting from Russia’s invasion of Ukraine, the World Bank decreased India’s real gross domestic product (GDP) growth prediction for 2022-23 (FY23) to 7.5 percent from 8%. The multinational agency also cut its global growth prediction for 2022 to 2.9 percent from 4.1 percent in its latest …
The dollar extended its overnight run into Asian trading hours on Tuesday, reaching new two-decade highs against the yen as concerns over continuing inflation drove up US bond rates. The dollar gained ground against the euro, pound, and Swiss franc. It also rose against the Australian dollar, with the market divided on whether the country’s …
External Affairs Minister S Jaishankar met with members of the Indian community here on Sunday and briefed them on recent events in India as well as the health of the bilateral relationship. Jaishankar is in town on the final phase of a two-nation journey to Slovakia and the Czech Republic, where he hopes to bolster …
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