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…
India’s export of oil meals increased by 60% over the first nine months of the 2022–23 fiscal year, thanks to an increase in the export of rapeseed meal and soyabean meal. The country exported 28.25 lakh tonnes (lt) of oil meals between April and December of 2022–23, up from 17.67 lt during the same period…
India’s overall imports from Russia increased by 400% (year over year) to $32.88 billion in April–December 2022, making it the country’s fourth-largest crude oil supplier. According to data made public by the Commerce and Industry Ministry, the Ukrainian situation led to a rise in the sourcing of discounted crude. Russia ranked as India’s eighteenth-largest trading…
Based on the Wholesale Price Index (WPI), producer inflation fell to a 22-month low in December. WPI-based inflation decreased from 5.85 percent in November to 4.95 percent in December, primarily as a result of lower prices for food items and crude oil. The Monetary Policy Committee is anticipated to face pressure to postpone the increase…
In Mumbai, a residential community is getting ready to move off the grid and use captive solar energy for home purposes. A contract for the provision of solar energy has been inked by Tata Power Renewable Energy Ltd and Vivarea Condominium, a housing association in south Mumbai. The 3.125 MW solar project, a first of…
Goldman Sachs Group Inc predicts that the price of commodities, particularly crude oil, would be largely determined by when China reopens following the Lunar New Year celebrations later this month. If China and other Asian economies entirely remove coronavirus limitations, a barrel of Brent oil may hit $110 by the third quarter, according to Currie….
With effect for the 2023–24 fiscal year, the Union Commerce Ministry has discontinued duty-free imports of soyabean oil under the tariff rate quota (TRQ) regime. Sunflower oil imports, however, will continue to be duty-free under the TRQ system. According to the notification, imports of soyabean oil are still permitted under the TRQ till June 30….
