In anticipation of a meeting of OPEC+ producers to negotiate a significant output cut in what energy executives and experts view as a tight supply market, oil prices increased little on Wednesday, adding to gains of 3% in the previous session. After rising $2.94 the day before, Brent crude increased by 11 cents to $91.91…
Reliance Industries subsidiary RSBVL and US-based Sanmina Corporation have concluded a contract to establish an electronics manufacturing joint venture worth around Rs 3,300 crore. Reliance Strategic Business Ventures Limited (RSBVL) will own 50.1 percent of the joint venture, while Sanmina will own 49.9 percent. This ownership will be obtained principally by an investment of up…
Gold and silver increased slightly on Tuesday with 10 grams of 24-carat yellow metal trading at Rs 51,110, up Rs 380. Following a 500 rupee increase, silver is currently trading at Rs 57,400 per kilogram. 10 grams of 22-carat gold is currently being offered for sale for Rs 46,850. In Mumbai and Kolkata, 10-gram quantities of…
The Central government will likely cut the sugar export quota by 29% for the new marketing year that started on October 1 to keep domestic supplies steady It could cap sugar exports at just eight million tonnes in 2022-23, compared with estimated despatches of 11.2 million tonnes in the recently concluded marketing year. To manage…
According to an RBI assessment, persistently high inflation remains a key policy worry for the Reserve Bank, which has raised rates aggressively this year, but the pressure may subside next fiscal assuming normal rains and the continued normalization of global supply chains without any exogenous shocks. The Reserve Bank of India (RBI) anticipates retail inflation…
The food ministry said on Sunday that while the prices of atta (flour) were steady over the last week, the retail and wholesale prices of wheat and rice had decreased. According to the ministry, “wheat and rice prices have increased more or less in line with the increase in the minimum support price over the…
The food ministry announced on Sunday that until March 2023, certain edible oils are subject to preferential import taxes. In order to increase domestic supply and manage retail prices, the Central Board of Indirect Taxes and Customs (CBIC) made this decision on August 31, 2022. The CBIC’s decision to extend the current reduced import taxes…
