Vedanta Resources, which has made 80,000 crores of rupees in Odisha, announced that it intends to invest an additional 25,000 crores there in order to grow the mining, ferrochrome, and aluminium sectors of the state’s economy. According to a firm statement, with this amount of investment, its operations (direct and indirect) are generating close to…
Vegetable inflation is high but that of spices is higher, retail inflation data shows. According to experts, pest attacks and decreased production are the main causes of rising spice inflation. The planting of spice seeds is hoped to benefit from a delayed monsoon. Vegetable retail inflation in August reached 13.23%, while spice retail inflation hit…
American Petroleum Institute (API) statistics released on Tuesday, which came before the government released its official inventory figures, which would have included drawdowns from the national oil reserve, showed that U.S. crude stockpiles increased by more than 6 million barrels over the previous week. September 9, API reported that U.S. crude stockpiles increased by 6.035…
An increase in the cost of cereals, vegetables, pulses, milk, and milk products, retail food inflation increased to 7.6% in August from 6.7% in July. As a result, the consumer price index’s total inflation rate increased to 7% on a yearly basis in August from 6.71% in the previous month. Because of an increase in…
According to a senior finance ministry official, the Centre will likely provide the state-run fuel dealers an extra sum totaling about Rs. 20,000 crores – over the Rs. 5,800 crores allocated – to make up for the under-recoveries on cooking gas in the current fiscal year. This indicates that gasoline subsidies, which were reduced to…
Indian rupee appreciated 28 paise to 79.25 against the U.S. dollar in opening trade on Tuesday, tracking the dollar’s decline versus its major peers and foreign fund inflows. At the interbank foreign exchange, the local unit struck 79.25 in initial deals after starting at 79.30 against the dollar, gaining 28 paise from its previous close….
Gold prices moved little on Tuesday, but they managed to hold onto recent gains as investors looked for additional evidence that U.S. inflation was declining from recent peaks.While gold futures declined 0.2% to $1,736.35 per ounce, spot gold increased by over 0.1% to $1,725.70. As the dollar fell from a 20-year high reached last week,…
Oil prices slipped during Asian trade on Monday as the prospect of further interest rate hikes in the United States and Europe to end inflation and the imposition of strict COVID-19 restrictions in China overshadowed the global demand outlook. Brent crude futures dropped 78 cents, or 0.9%, to $86.01 a barrel, after settling 4.1% higher…
A five-year contract between Infosys and Spirit AeroSystems covers the provision of MRO (Maintenance, Repair, and Overhaul) services as well as aerostructure and systems engineering services for the product development of emerging commercial, business jet, and commercial aircraft programs. The two have had a close connection for 16 years, during which time Infosys has offered…
The National Commodity and Derivatives Exchange (NCDEX), which established the Turmeric Product Advisory Committee (PAC), has stated that futures trading ensures transparent price discovery for all participants in the commodity value chain and that future prices serve as a benchmark for physical trade as well. The PAC report was released in response to some dealers…
