Due to the east Asian Lunar New Year vacation, which thinned down early trading on Monday, oil prices dipped lower. However, they managed to hold onto the majority of last week’s gains due to the likelihood that China, the world’s top oil consumer, will experience an economic revival this year. The price of Brent crude…
The Government of India has been requested to impose a standard import charge on all crude edible oils the Solvent Extractors’ Association (SEA) of India. Ajay Jhunjhunwala, president of SEA, stated in a monthly letter to association members on Friday that the association sent a representation to the government in its pre-budget memorandum covering numerous…
On Thursday, the Reserve Bank of India (RBI) stated that its goal for 2023 is to control inflation and bring it into line with the desired level by 2024. The consumer price index (CPI) eased to 5.7% in December from 5.9% a month earlier, according to the most recent data, driven mostly by a strong…
Hindustan Unilever, a major FMCG company, increased its consolidated net profit by 7.86 percent to $2,481 billion for the quarter that ended in December from $2,300 billion in the same quarter last year.Comparing the net profit to the Rs. 2,670 crore profit from the prior quarter, the net profit decreased by 7% sequentially. In comparison…
After the Central government banned exports on May 13 of last year, at least 1.75 lakh tonnes of wheat that had been stored in warehouses near various ports around the nation were sold on the local market. After reaching record highs, wheat prices have since fallen. “After the government forbade exports last year, at least…
Early on Wednesday, the rupee lost 13 paise to reach 81.82 against the U.S. dollar as investor sentiment was dampened by the strengthening of the US dollar and high crude oil prices. At the interbank foreign exchange, the local unit started out weakly versus the dollar at 81.80, then dropped to 81.82, losing 13 paise…
On January 19, gold prices increased slightly in early Asian trading as investors assessed the likelihood that the US Federal Reserve will decrease the rate at which it raises interest rates. Gold’s spot price increased by 0.2% to $1,907.18 per ounce. To $1,909.40, US gold futures increased by 0.1 percent. Deveya Gaglani, Research Analyst –…
At the beginning of January, there was a decrease in the arrivals of tur (red gram, arhar, or pigeon pea) in agricultural produce marketing committee (APMC) yards in the important producing States of Karnataka and Maharashtra. Prices are therefore rising compared to the same time last year due to concerns that production will likely drop…
On the strength of strong rise in net interest income, Bank of India (BoI) announced a 12% increase in third quarter net profit at 1,151 crore. The net profit was achieved despite a significant rise in provisions, including those for standard assets, poor and questionable assets, and other assets, as well as a reduction in…
The expectation that China’s harsh COVID-19 regulations will be relaxed will result in a rebound in gasoline consumption in the world’s largest oil importer drove up oil prices on Wednesday, extending gains from the previous session. Following a 1.7% gain in the prior session, Brent crude futures were up 52 cents, or 0.6%, at $86.44…
