Oil prices rose on Monday as concerns grew about possible supply disruptions from the Middle East producing region after Israel stepped up attacks on Iranian-backed forces. Brent crude futures for November delivery rose 16 cents, or 0.22%, to settle at $72.14 a barrel. That contract expires on Monday and the contract for December delivery rose…
To establish Pumped Storage Projects (PSPs) and Floating Solar Projects (FSPs) in Maharashtra, SJVN Limited announced on Friday that it had inked two Memorandums of Understanding (MoUs) with the Maharashtra government. SJVN and the Maharashtra government’s Department of Water Resources signed the first Memorandum of Understanding to develop five pumped storage projects with a combined…
The Food Minister Pralhad Joshi stated on Thursday that the government is expected to approve raising the minimum sale price (MSP) for sugar as well as domestic ethanol pricing, as requested by the industry. In addition to the mills’ MSP for sugar, Joshi stated that the government is considering proposals to raise the price of…
Oil prices ended the week down for a third straight day on Friday as investors focused on expectations of more supply from Libya and the wider OPEC+ group of oil exporters. Brent crude futures fell 57 cents, or 0.8%, to $71.03 a barrel, while U.S. West Texas Intermediate crude futures were down 58 cents, or…
According to the agriculture ministry, India’s foodgrain production reached a record 332.22 million tonnes in the 2023-24 crop year, driven by strong wheat and rice production. The final estimate for 2023-24 shows an increase of 2.61 million tonnes from the previous year’s 329.6 million tonnes. Rice production reached a record 137.82 million tonnes, up from…
With the recent announcement of increased import levies on crude and refined oil, consumers are starting to feel the squeeze of inflation in kitchen basics like edible oil. The modal or benchmark retail prices of mustard, sunflower, and palm oil all of which are frequently used in Indian kitchens—have increased to Rs 148/litre, Rs 129/litre,…
Gold prices were steady in Asian trade on Thursday, closing at an all-time high as attention focused on the Federal Reserve chairman’s upcoming speech, although key US economic indicators showed weakness. For industrial metals, prices remained somewhat acceptable due to additional stimulus measures in China. It is the largest importer, and copper prices remained stable…
SEBI has approved Hyundai Motor India’s IPO, bringing the company’s intentions to list one step closer. Hyundai India hopes to raise Rs 25,000 crore, or $3 billion, through the offer, regarded as India’s largest public issue. This indicates a $20 billion valuation for Hyundai. According to rumors, the business may be preparing to list in…
Oil prices fell on Wednesday as investors reassessed the ability of China’s stimulus programs to boost the economy enough to spur higher fuel demand growth in the world’s biggest crude importer. Brent crude futures were down 17 cents, or 0.2%, at $75 a barrel. U.S. West Texas Intermediate crude was down 24 cents, or 0.3%,…
Gold prices reached record highs on Wednesday due to a weaker dollar and an escalated Middle East conflict. Spot gold held steady at $2,658.07 per ounce, while gold futures edged 0.2% higher to $2,682.60. The dollar was down 0.2%, making greenback-priced bullion less expensive for other currency holders. This data raised hopes that the U.S….
