The auto component sector is projected to reach the $100 billion export target by 2030, making the industry one of the largest job creators in the country, Union Minister of Commerce and Industry, Piyush Goyal, said on Monday. Addressing the 64th annual session of Automotive Component Manufacturers Association of India (ACMA) in the national capital, … Read more
Gold prices eased on Tuesday, pressured by a firmer dollar, while traders braced for key U.S. inflation figures that could offer hints about the size of the Federal Reserve's interest rate reduction next week. Spot gold dipped 0.1% to 2,503.09 per ounce, as of 0301 GMT. U.S. gold futures remained steady at $2,532.20. The dollar … Read more
Union Electronics and IT Minister Ashwini Vaishnaw on Monday announced that consumer electronics majors HP Inc and Padget Electronics have signed an MoU to manufacture HP laptops, personal computers, and All-in-One PCs at a factory in Tamil Nadu. Vaishnaw, who is also the Union Minister for Railways and I&B, told reporters here that this … Read more
Oil was steady in early trade on Tuesday as investors weighed supply disruptions from Tropical Storm Francine and the potential for further output cuts against persistently weak Chinese demand. Brent crude futures rose 16 cents, or 0.22%, to $72.00 a barrel by 0004 GMT. U.S. West Texas Intermediate crude futures rose 12 cents, or 0.17%, … Read more
Asian stocks reversed early losses to rise marginally on Tuesday following Wall Street's overnight rally, though concerns about a still-struggling Chinese economy kept sentiment in check. MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.2%, after falling 1.11% the previous session to hit a one-month low. Japan's Nikkei last traded 0.4% higher, … Read more
The dollar was steady in early trading on Tuesday, with the yen inching away from one-month highs as investors brace for U.S. inflation data and reassess expectations of a large interest rate cut from the Federal Reserve starting next week. A mixed labour report on Friday failed to make a clear-cut case on whether the … Read more
Indian consumer inflation probably held below the Reserve Bank of India's 4.0% medium-term target for a second month in August thanks to a moderation in food price rises due to last year's high base, a Reuters poll of economists found. Although food prices, which make up nearly half the inflation basket, have eased significantly in … Read more
Indian shares are set to open higher on Tuesday, tracking a rebound in global stocks ahead of the key U.S. inflation data and the Federal Reserve's interest rate decision. The GIFT Nifty was at 25,035 points, as of 08:06 a.m. IST, indicating the NSE Nifty 50 will open above its previous close of 24,936.4. The … Read more
Indian equity indices closed higher on Monday, snapping its three-day losing streak following a rally in FMCG and private bank stocks. At closing, the Sensex was up 375 points or 0.46 per cent at 81,559 and the Nifty was up 84 points or 0.34 per cent at 24,936. The market was led by private banking … Read more
Life Insurance Corporation (LIC) of India saw a 35.1 per cent surge in its new business premium for the month of August to Rs 19,309.10 crore, from Rs 14,292.53 crore in the same month last year, showed data by the Life Insurance Council on Monday. The LIC’s new business premium collection for the first five … Read more
