India’s eight core infrastructure sectors recorded a two-month high growth of 1.7 per cent in April, supported by higher output in steel, cement and electricity, according to government data released on Wednesday, PTI reported.The core sector had expanded by 1 per cent in April last year, while growth stood at 1.2 per cent in March…
The rupee fell to a fresh record low on Wednesday as elevated oil prices and rising US Treasury yields weighed on investor sentiment, while concerns over prolonged geopolitical tensions and potential global rate hikes continued to pressure emerging market currencies, Reuters reported.The domestic currency touched an all-time low of 96.96 against the US dollar during…
Milk prices in Kerala will go up by Rs 4 per litre from June 1 after dairy cooperative major Milma approved a price revision citing rising production, procurement and distribution costs amid mounting pressure on farmers.The decision was taken at a meeting of the Board of Directors of the Kerala Cooperative Milk Marketing Federation (KCMMF),…
US stocks moved higher on Wednesday and edged toward their first gain in four sessions as easing pressure in the bond market and stronger-than-expected corporate earnings supported investor sentiment.The S&P 500 rose 0.3 per cent in early trade, moving closer to the record high reached last week. The Dow Jones Industrial Average slipped 62 points,…
The Reserve Bank of India (RBI) on Tuesday announced a $5 billion USD/INR buy-sell swap auction scheduled for May 26 as part of efforts to inject long-term liquidity into the banking system, PTI reported. The move also comes at a time when the rupee has weakened sharply against the US dollar amid continued global uncertainties….
Toffee became the talk of the town when Prime minister Narendra Modi gifted Melody toffees to Italian counterpart Giorgia Meloni during his Italy. The visit has brought fresh attention to India’s toffees sector with Commerce and Industry minister Piyush Goyal on Wednesday highlighting that the country’s toffee exports have climbed 166 per cent over the…
Mumbai: Skydo, a cross-border payments platform for Indian exporters/businesses, is among the first to receive in-principle approval to operate as a cross-border Payment Service Provider at GIFT City IFSC.The GIFT City presence plugs Skydo into a globally-aligned finance hub built for cross-border flows. It unlocks build-for-global infra/products tailored to firms selling, buying, operating abroad. These…
Mumbai: Indian bank branches continue to draw their heaviest footfall from entrepreneurs, rural customers and affluent clients, while younger, digital-native users remain the least likely to walk in, according to a report by EY, which also noted that 55% of customers want better digital support across apps, websites and chatbots.The report finds that middle-age entrepreneurs…
China has signalled that it is willing to accept a certain level of US tariffs while pushing for an extension of the ongoing trade truce with Washington, a move that could indicate further stabilisation in ties between the world’s two largest economies, Bloomberg reported.According to a statement issued by China’s Commerce Ministry on Wednesday, Beijing…
In US, single Gen Z women are buying homes at a significantly higher rate than their male counterparts even as overall first-time homebuying activity has fallen to its lowest level in decades, according to survey data from the National Association of Realtors (NAR) as reported AP.Single Gen Z women accounted for 35 per cent of…