After settling around $2 a barrel on Friday, oil prices were little changed in early Asian trade on Monday as increased supplies in the United States and expectations of additional interest rate hikes dampened optimism about China’s demand rebound. To reach $82.91 a barrel, Brent crude lost 9 cents or 0.1%. The price of March…
The emphasis right now is on assuring greater output from fossil fuel-based power plants while also establishing new renewable energy projects, as the demand for energy is predicted to increase over the next ten years. This entails managing the energy transition by shutting down fossil fuel plants while making sure there is a sufficient supply…
Due to the dollar’s resurgence against its rivals, precious metals have been sluggish during the last few weeks. On February 2, 2023, gold fell by about 5% from a peak of Rs 58,847 on the MCX to Rs 55,850. Comex Gold’s 6.48 percent decline from $1,960 to $1,833 had a more significant effect. According to…
In an effort to diversify supply sources for the essential hydrocarbon resource, the state-run Gas Authority of India (GAIL) is considering acquiring a minority ownership of up to 26% in a liquefied natural gas (LNG) liquefaction plant in the US as well as long-term sourcing agreements. The largest gas utility in the nation issued an…
According to a warning in an article in the most recent monthly bulletin from the RBI, the decline in inflation is predicted to be obstinate and hampered by supply shocks over the coming year. According to the article headed “Status of the Economy,” almost every other component of the consumer price index, statistical and exclusion…
The American currency’s rise abroad and a flattish trend in local markets dampened investor optimism, causing the rupee to weaken 14 paise to close at 82.84 (provisional) on Friday. The rupee depreciated 14 paise from its previous closing of 82.70 to end the day at 82.84 (provisional) on the interbank foreign exchange market. It had…
If renewable energy companies miss project completion dates, the government will place them on a three- to five-year blacklist, according to a government decree viewed by Reuters. The New and Renewable Energy Ministry issued an order that stated, “If any renewable energy project is not finished by the set date of completion, then its bank…
Of the 15.25 lt of wheat available for sale in the open market by the Food Corporation of India (FCI), 3.85 lt had already been sold. This is 25% of the offer in the February 15th electronic auction’s second round. The second round’s weighted average price was 2,338.01/quintal, according to a statement released by the…
As a stronger currency and concerns about further interest rate hikes by the U.S. Federal Reserve clouded the picture for non-yielding metal, gold prices fell on February 17 in the international markets and were expected to decline for the week. At $1,832.42 per ounce, spot gold prices were down 0.3%. This week, the price of…
Despite government efforts, rupee trade has not taken off. The exchange rate mechanism and money repatriation are experiencing teething problems, according to officials from the ministry of trade. According to a representative of the trade ministry, “It hasn’t really taken off, but there are isolated situations where banks have started it.” India hasn’t, however, formally…
