12:18 pm
Petrol prices not coming down as states don’t want to bring fuel under GST: Hardeep Singh Puri
Petrol prices are not coming down in the country Because the states do not want to bring fuel under the ambit of the Goods and Services Tax. (GST), Petroleum Minister Hardeep Singh Puri said.
in an interview to PTI In Kolkata, Mr Puri said the Trinamool Congress (TMC) government is imposing heavy taxes, so petrol prices in West Bengal have crossed Rs 100.
11:50 am
Oil prices rise on tight supplies, renewed risk appetite
Oil prices rose today, fueled by rising fuel demand and higher-than-expected US crude inventories, as production remains disrupted in the Gulf of Mexico after two storms. Reuters informed of.
US West Texas Intermediate crude rose 0.4% to $72.48 a barrel, while Brent crude was up 0.3% to $76.45 a barrel.
11:28 am
Fitch slashes China 2021 GDP forecast to 8.1% on asset slump
Fitch Ratings on Thursday lowered its 2021 economic growth forecast for China to 8.1% from 8.4%, citing the impact of the slowdown in the country’s property sector on domestic demand. Reuters informed of.
11:11 am
Copper Falls as Dollar Firms on Fed Taper Signals
Copper prices fell today after the US Federal Reserve said it would begin easing its stimulus program in November. Reuters report good.
Three-month copper fell 0.5% to $9,242.50 a tonne on the London Metal Exchange, while the most-traded October contract on the Shanghai Futures Exchange rose 0.1% to 68,710 yuan ($10,633.26) a tonne, tracking overnight gains in London. does, the report said. .
10:58 am
Supply chain shocks could cost automakers $210 billion this year, forecast finds
Global automakers could lose $210 billion in revenue this year due to supply chain disruptions, consulting firm AlixPartners said on Thursday, nearly double what it did earlier this year.
A shortage of semiconductors is only part of the problem, AlixPartners said in a new forecast. High prices and tight supplies of commodities such as steel and plastic resins are driving up costs and forcing automakers to cut production. Reuters report good.
According to the new forecast, automakers are on track to lose production of 7.7 million vehicles in 2021. Alixpartners advises automakers on supply chain and other issues.
10:43 am
Rupee rises 10 paise against US dollar in early trade
appreciation of indian rupee 10 paise at 73.77 level in early trade today against US Dollar PTI informed of.
At the interbank foreign exchange, the rupee opened at 73.85 against the dollar, then rose 10 paise to 73.77 over its previous close.
10:33 am
HSBC CEO Evergrande sees market impact from debt crisis
HSBC Holdings Plc expects debt problems related to troubled property developer China Evergrande Group to have an impact on capital markets, but does not appear to have a direct impact on the bank. Reuters report good.
Evergrande’s position “was concerning and is likely to have second- and third-order effects, particularly on capital markets and bond markets. And we have to stay close to that,” said HSBC Group CEO Noel Quinn.
10:17 am
Oyo to file $1.2 billion IPO next week
Hospitality firm OYO is planning to raise between $1 billion and 1.2 billion through an initial public offering and is expected to file a draft red herring prospectus (DRHP) with Sebi next week. PTI Quoting sources.
He said OYO has appointed investment banks like JP Morgan, Citi and Kotak Mahindra Capital to manage its public issue.
Last week, shareholders of Orawell Stages, the parent company of hospitality firm OYO, approved the transition of the company from a private limited company to a public limited company, according to a regulatory filing.
9:58 am
Cut in EV import duty may boost domestic demand
By reducing the import duty on electric vehicles (EVs) Help boost domestic demand Balbir Singh Dhillon, Head, Audi India, said that by enabling automobile manufacturers to bring in more models, thus paving the way for local manufacturing.
“Local manufacturing of electric vehicles (EVs) can start only when we reach a certain threshold,” he said, adding that “by that time, we will be importing the car.”
9:46 am
FDI more than doubled to $20.42 billion
More than Foreign Direct Investment (FDI) in the country Doubled to $20.42 billion during the April-July period of the current fiscalMinistry of Commerce and Industry said.
Total FDI inflows increased to $27.37 billion during the first four months of 2021-22. It was $16.92 billion in the year-ago period.
9:32 am
Fed signs bond-buying taper coming ‘soon’, rate hike moved to 2022
The Federal Reserve on Wednesday cleared the way for reducing its monthly bond purchases “soon” Indicated interest rate increases may happen faster than expectedBorrowing costs will need to rise in 2022, with nine out of 18 US central bank policymakers Reuters informed of.
The actions, covered in the Fed’s latest policy statement and separate economic projections, represent a blatant tilt by the central bank that has kept inflation this year running at 4.2%, more than double its target rate, and its in a position to take action against , ns report good noted.
9:17 am
Indian benchmark indices rise on positive global cues
Indian Indices Opened Strongly Sensex opened up 430.85 points at 59,358.18 today on positive global cues, while Nifty opened up 124.20 points at 17,670.85.
On Wednesday, the 30-share BSE Sensex slipped 77.94 points or 0.13% to end at 58,927.33, while the broader NSE Nifty fell 15.35 points or 0.09% to end at 17,546.65.
9:12 am
Asian stocks edge up but Evergrande’s panic keeps investors on edge
Asian stocks rose today, backed by some positive news from struggling developer China Evergrande Group. Reuters Report noted.
However, investors remained on edge about Evergrande’s future, with a major test coming later today when $83.5 million in dollar-bond interest payments are to be paid.
The Hong Kong benchmark was up 1.6%, up 0.64%, boosting MSCI’s broadest index of Asia-Pacific shares outside Japan. Elsewhere, Chinese blue chips fell 0.74%, Australia’s benchmark 1.04% and Korea’s Kospi fell 0.6%.
9:00 am
Wall Street ends higher as Fed signals bond-buying is on its way soon
Three major US stock indexes rose 1% on Wednesday as investors mostly accepted the latest signs from the Federal Reserve, which included paving the way for the central bank to reduce its monthly bond purchases soon, Reuters informed of.
The S&P 500 posted its biggest daily percentage gain since July 23.
The Dow Jones Industrial Average rose 338.48 points, or 1%, to 34,258.32, the S&P 500 rose 41.45 points, or 0.95%, to 4,395.64, and the Nasdaq Composite rose 150.45 points, or 1.02%, to 14,896.85.
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