As a result of a strong US dollar and unfavorable attitude in the equities market, the rupee fell for the third straight day, losing 6 paise to 83.23 against the US dollar in early trade on Thursday. Despite the fact that crude oil prices were hovering around USD 90 per barrel due to geopolitical tensions…
Anticipated colder weather and higher heating demand in the upcoming week caused the natural gas market to see a 1.86% price hike, ultimately settling at 279.9. Record-high output levels and a generally benign weather forecast through early November did not prevent this growth. Notably, gas output in the Lower 48 U.S. states surpassed prior records…
Following the USDA’s October WASDE report, which indicated that lower yields in Texas would limit U.S. cotton production in 2023–2024 to 12.8 million bales, cotton candy experienced a 0.66% gain, closing at 58,200. Brazil is predicted to produce more cotton than the United States, almost matching American exports of the crop for the first time…
The continuation of domestic leisure travel, the demand from meetings, incentives, conferences, and exhibitions (MICE), business travel, and an increase in foreign tourist arrivals (FTAs) are all expected to support the Indian hotel industry’s double-digit revenue growth in FY24, according to a report by ICRA. It further stated that the current ICC World Cup 2023…
The company is working on many initiatives to expand its capacity in the pipes and fittings market, according to Ajit Venkataraman, MD of Finolex Industries. The organization is attempting to enhance the product mix for pipes and fittings. Approximately 60% of the business in the pipes and fittings industry originates from the low-value, high-volume agro…
On October 25, gold prices rose as a result of falling U.S. Treasury yields, but the safe-haven demand for gold began to wane, making further gains difficult. After officials from all around the world tried to defuse the Israel-Hamas conflict, this development occurred. After falling the previous two days, spot gold increased by 0.3 percent…
Tuesday’s early Asian trading saw an increase in oil prices as investors maintained their concern that the Israel-Hamas conflict could spread into a larger battle in the oil-exporting area, potentially disrupting supply. Brent crude prices had risen by 70 cents, or 0.8%, to $90.53 per barrel, while U.S. West Texas Intermediate crude futures had gained…
Based on robust internal fundamentals and low inflation forecasts, India’s major economy will continue to grow at the fastest rate in the world in the 2023–24 fiscal year, according to a report released by the finance ministry on Monday. The Monthly Economic Review’s September issue also noted that recent events in the Persian Gulf have…
Based on the long-term positive outlook for the Indian economy and a strong focus on emerging areas like technical textiles, home furnishings, specialized fabrics, and fashion apparels, the market for Indian textile and apparel manufacturers may reach the $ 350 billion mark by 2030, according to a report. According to a survey by FICCI-Wazir Advisors,…
Despite a number of events unfolding both domestically and globally over the past few weeks, the rupee has been trading in a limited range with little volatility. Due to a lack of domestic cues, active RBI intervention is keeping volatility in control, and it is anticipated that this will continue throughout the next several weeks…
