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Oil Heads For Fourth Straight Monthly Loss as OPEC Meeting Looms
Oil prices rose slightly on Friday, but were set for a fourth straight month of losses amid growing concerns over weakening demand, with the focus now turning to a potential supply cut by the OPEC next week. London-traded Brent oil futures, the global benchmark, were flat at $87.50 a barrel by 21:55 ET (01:55 GMT), […]
Govt hikes DA by 4% under 7th Pay Commission; details here
The Union Cabinet has hiked the Dearness Allowance (DA) of central government employees and pensioners by 4 percent under the 7th Pay Commission, The hike takes DA to 38 percent from the current 34 percent of basic pay/pension. The Finance Ministry said that the central government employees and pensioners will become entitled to a higher […]
Asia FX Battered by Hawkish Fedspeak, Dollar Back at 20-Year Peak
Asian currencies plummeted on Wednesday, while the dollar surged to new 20-year highs on hawkish comments from Federal Reserve officials and growing safe haven demand. The dollar index jumped 0.4% to a new 20-year high of 114.68, while dollar index futures rose in a similar range. A broad market rout in risk-driven assets also drove […]
Indian economy showing resilience and recovery: CEA
However, there are challenges, and geopolitics is messy for which foreign investors are cautious, the CEA said. Chief Economic Advisor (CEA) V Anantha Nageswaran has said the Indian economy was on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Speaking at a virtual seminar organised by Swadeshi Research Institute, […]
Indian economy showing resilience and recovery: CEA
However, there are challenges, and geopolitics is messy for which foreign investors are cautious, the CEA said. Chief Economic Advisor (CEA) V Anantha Nageswaran has said the Indian economy was on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Speaking at a virtual seminar organised by Swadeshi Research Institute, […]
Oil Prices Hover Near 8-Mth Low as Recession Fears Dent Outlook
Oil prices held near eight-month lows on Monday after falling sharply last week as markets feared that slowing global economic activity will dent demand for crude. Anderson-traded Brent oil futures rose 0.3% to $85.29 a barrel, while U.S. West Texas Intermediate futures were unchanged at $78.67 a barrel by 21:30 ET (01:30 GMT). Both contracts […]
BOJ Holds Ultra-Low Interest Rates Despite High Inflation, Fed Pressures
The Bank of Japan (BOJ) held its benchmark interest rates at ultra-low levels on Thursday, as expected, citing the need for accommodative monetary policy amid continued headwinds from rising commodity prices and the aftermath of the COVID-19 pandemic. The world’s third-largest central bank held its short -term policy interest rate. at negative 0.1% after a […]
Asian Stocks Slammed by Fed Rate Hike Risks
Asian stock markets sank on Wednesday, tracking overnight losses on Wall Street as investors awaited an interest rate hike and more hawkish signals from the Federal Reserve. Hong Kong’s technology-heavy Hang Seng index continued to lag behind its peers, falling 1.5%, while Japan’s Nikkei index lost 1.3%. The day’s losses also negated a soft rebound […]