Market participants are now awaiting the release of the US consumer price index for February, scheduled for Wednesday, as well as the Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation gauge, due on Friday. Among other precious metals, spot silver rose 3 per cent to $89.60 per ounce. Platinum gained 1.2 per cent to…
Asian stocks inched higher on Tuesday as oil prices relaxed, coming down to around $90 per barrel from nearly $120. South Korea’s Kospi recovered from its heavy losses, surging more than 6%, while Tokyo’s Nikkei 225 also gained over 3% before easing slightly. The rally came as West Texas Intermediate (WTI) crude fell 6.54% to…
US President Donald Trump on Tuesday said that he would remove “some oil sanctions” to reduce the soaring prices as the crude cost hit $100 a barrel amid Iran war.“We’re also waiving certain oil-related sanctions to reduce prices,” he said addressing reporters. “We’re going to take those sanctions off till this straightens out,” he added.Moreover,…
BENGALURU: Karnataka govt has suspended online sales of Mysore silk saris after surging orders outstripped supply of the GI-tagged weave made with pure mulberry silk, gold zari and silver threads. State-owned Karnataka Silk Industries Corporation will prioritise limited stocks for buyers visiting its exclusive outlets.Sericulture minister K Venkatesh made the announcement in the assembly on…
Oil prices surged to $120 a barrel before retreating to $102 Monday as Saudi Arabia was reported to be cutting output, adding to the supply squeeze due to disruption in the Strait of Hormuz.Finance ministers of developed G7 nations, who met Monday evening, deferred plans to tap their strategic reserves to cool down the global…
US stock markets tumbled on Monday as a sharp spike in oil prices following the Middle East conflict rattled investors and raised fears about the resilience of the global economy.The S&P 500 fell 1.3%, coming off its worst week since October. The Dow Jones Industrial Average dropped 721 points, or 1.5%, to 9:35 a.m. Eastern…
Mumbai: Warburg Pincus-backed housing finance company Truhome Finance ( formerly Shriram Housing) has filed draft papers with capital markets regulator SEBI to raise Rs 3,000 crore through an initial public offering.The IPO will comprise a fresh issue of equity shares of face value Rs 10 aggregating up to Rs 1,500 crore and an offer for…
India will not participate in the International Energy Agency’s (IEA) proposal to release strategic petroleum reserves to stabilise global oil markets, government sources said on Monday, even as crude prices surge amid the escalating Middle East conflict, reported PTI.The decision comes as G7 nations consider coordinated releases of emergency oil reserves to calm markets after…
Benchmark equity indices Sensex and Nifty ended sharply lower on Monday, as surging crude oil prices and weak global cues triggered a broad-based sell-off amid escalating tensions in Middle East.The 30-share BSE Sensex plunged 1,352.74 points, or 1.71%, to settle at 77,566.16, marking its second straight day of decline. During the session, the index had…
Lower office rentals are helping Navi Mumbai emerge as a preferred destination for multinational companies and global capability centres (GCCs), with rents in the city about 21% below the average of major Tier-I markets, according to a report by real estate data analytics firm CRE Matrix.The report, ‘Navi Mumbai Rising: A Comprehensive Perspective on India’s…