With the United States and Britain striking Houthi military targets in Yemen in retribution for attacks by the Iran-backed group on ships in the Red Sea beginning late last year, oil prices increased by more than 2% on Friday. U.S. West Texas Intermediate oil futures were up $1.53, or 2.1%, at $73.55 a barrel, while…
The majority of Asian currencies fell in tandem with the dollar index’s increase to 102.60.The core CPI is predicted by Reuters’ panel of experts to increase by 0.3% month over month in December, when U.S. consumer inflation data is expected on Thursday. Core CPI is predicted to increase by 3.8% year over year, which is…
While the UK and Europe have been exceptions for Indian IT companies over the past few quarters, businesses could anticipate to face currency headwinds in the third quarter due to the pound and euro depreciating between 1% and 2% versus the US dollar. Indian IT companies, particularly those in the UK and Europe, have been…
Investments of Rs 70,800 crore are planned by Tata Power Renewable Energy Ltd (TPREL) for renewable energy projects in Tamil Nadu. As to a regulatory filing on Tuesday, the company, which is a part of Tata Power, has inked two Memorandums of Understanding (MoUs) with the Tamil Nadu government to facilitate the advancement of the…
An all-time high of 13.14 million tonne (MT) of mustard seed is expected to be produced in the 2023–24 season thanks to record sowing this season, which will increase domestic edible oil supply. A reassessment of the import tariff relief for food oils such as palm, soybean, and sunflower may be required by this. The…
Profit booking amid a complicated mix of reasons that included the most recent EIA report, riots in Libya, and growing tensions in the Middle East drove crude oil’s 2.15% spike, which it settled at 6071. According to the EIA Petroleum Status Report, U.S. crude stocks fell by 5.503 million barrels in the week ending December…
Zinc prices fell -0.91% to settle at 228.45 in December as a result of China’s official PMI dropping to 49 from the previous month, which heightened expectations of further government support. With expectations of early interest rate reductions by major central banks and a more complete economic recovery in China, the world’s largest zinc consumer,…
Cotton prices, as indicated by Cotton candy, saw a slight increase of 0.04%, ultimately reaching 56180. The Cotton Association of India (CAI) has not altered its pressing forecast of 294.10 lakh bales weighing 170 kg apiece for the 2023–24 season. Market arrivals, imports, and opening stocks made up the 92.05 lakh bales total supply that…
With the United States producing an expected 13.3 million barrels of crude oil per day, the price of crude oil fell by -1.39% to settle at 5943. Oil prices were further pressured by this increase in crude output, which was up 200,000 barrels per day from the previous week. The downward pressure was also fueled…
Profit booking after previous gains caused cotton prices, as represented by Cottoncandy, to somewhat drop, ending at 56160. Market attitude was influenced by the Cotton Association of India (CAI) maintaining its pressing forecast of 294.10 lakh bales for the 2023–24 season. With market arrivals, imports, and opening stocks included, the total supply was anticipated to…
