Tuesday saw a little decline in oil prices as traders gave up the majority of the gains made the previous session in the wake of Saudi Arabia’s declaration that it will further reduce the output, of the world’s largest exporter. At $76.48 a barrel, Brent crude futures were down 23 cents, or 0.3%. American West…
The majority of Asian currencies fell versus the US dollar in May due to tighter supply and haven bidding, which was a bad month for their value. Although the US government was able to suspend the debt ceiling before the anticipated June 5 X date, June got off to a somewhat better start. A fiscal…
At 76.26 million tonnes (MT) in May, domestic coal production increased year over year by 7.10%. India produced 71.21 MT of coal in the same month in 2022, according to a statement from the coal ministry. “Ministry of Coal has accomplished a remarkable feat with a significant surge in overall coal production during May 23,…
Gold yesterday increased by 0.06% to settle at 60234 as Treasury yields and the U.S. currency declined. Days before the largest economy in the world is scheduled to begin defaulting on its debt, improved risk sentiment impacted bullion as the plan to raise the debt limit and curb government spending in the U.S. was passed…
The Aditya Birla Group plans to invest Rs 1,250 crore in its financial services division, Aditya Birla Capital Ltd. According to a statement on Thursday, the board of Aditya Birla Capital Ltd. (ABCL), which engages in lending, asset management, and insurance, approved a preferential issue of Rs. 1,250 crores to its promoter and promoter group…
The price of Jeera yesterday decreased by -0.29% to 44400 as a result of profit taking due to the seasonal rise in supply. Market morale is also being kept down by the rising imports of jeera at a lower price. Due to the expected increase in the seasonal supply of jeera in Gujarat and Rajasthan,…
In response to encouraging macroeconomic statistics, the rupee rose by 33 paise to settle at 82.42 (provisional) against the US dollar on Thursday. Against the US dollar, the local unit traded in the interbank foreign exchange market with an opening price of 82.54 and ended the day at 82.42 (provisional), up 33 paise from the…
Oil prices fell in early trade on Thursday for the third straight day as a result of data showing an unexpectedly big gain in U.S. oil storage last week. This data, together with indications of weaker Chinese demand, raised concerns about an oversupply. The price of Brent crude futures for August delivery dropped by 40…
The National Electricity Plan (NEP) for 2022–2032, with a proposed investment of Rs. 33,60,594 crore, was announced by the Central Electricity Authority (CEA) on Wednesday. The plan aims to increase the share of non-fossil fuel capacity to about 70%. “The share of non-fossil based capacity is expected to increase from around 42.5% at present to…
As investors await the votes on the debt deal, gold yesterday closed up by 0.33% at 60198 as the yield on the US 10-year Treasury note dropped to just 3.7%, significantly below the 3.85% seen last week. After passing a significant procedural obstacle, the debt-limit agreement reached by US President Joe Biden and Speaker Kevin…
