EU reaches deal for $60 per barrel price cap on Russian oil

BRUSSELS: The European Union reached a deal Friday for a $60-per-barrel price cap on Russian oila key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. After a last-minute flurry of negotiations, the EU presidency, held by […]

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Foreign Exchange Reserves Rise For Third Straight Week To $550 Billion

For the week ended Nov 18, India’s reserves were at $547.25 billion.(File) Mumbai: India’s foreign exchange reserves rose for the third straight week, to $550.14 billion in the week through Nov. 25, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday. For the week ended Nov 18, the country’s reserves were at $547.25 […]

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Govt Launches Fourth Tranche of Bharat Bond ETF; Details Here

The government on Friday launched the fourth tranche of Bharat Bond ETF, India’s first corporate bond exchange-traded fund. The new fund offer of the ETF opened on December 2 and will close for subscription on December 8. Edelweiss Mutual Fund is managing the fund. The funds raised would be utilised for undertaking capital expenditures by […]

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Rupee Nearly Flat At 81.25 Even As Dollar Languishes Near A 16-Week Low

Rupee Today: Rupee nearly flat on Friday The rupee reversed some of the gains from earlier in the session on Friday to close nearly flat against a dollar languishing near 16-week lows as investors eye the much-awaited US jobs data later in the day for clues on the peak in US interest rates. Bloomberg showed […]

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EU tentatively agrees $60 price cap on Russian seaborne oil

BRUSSELS: European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil – an idea of the Group of Seven (G7) nations – with an adjustment mechanism to keep the cap at 5% below the market price, according to diplomats and a document seen by Reuters. The agreement […]

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What Compounding Means For Investors

Last Updated: December 01, 2022, 20:12 IST Compound interest is another name for this phenomenon, which is a direct application of the time value of money (TMV) idea. Compounding is important in finance, and many investing techniques are driven by the profits associated with its effects Compounding is the term used to describe how an […]

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Here’s Why Nureca Shares Are Down Over 70% in 2022

Currently, 95% of Nureca’s revenue comes from e-commerce and digital channels. No company is always good in every year. They have ups and downs as per market conditions. Take the example of Paytm or Zomato. Zomato saw a bumper listing as retail investors fueled the subscription numbers at the time of its initial public offer […]

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ATF price slashed by 2.3% to Rs 1.17 lakh per kilolitre

NEW DELHI: Jet fuel price was on Thursday reduced by 2.3%, reflecting softening international oil prices but petrol and diesel rates remained on freeze for a record eighth month in running. Aviation Turbine Fuel (ATF) price was cut by Rs 2,775 per kilolitre, or 2.3%, to Rs 1,17,587.64 per kl in the national capital, according […]

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Is India’s Digital Rupee a Cryptocurrency? How to Use & Buy It Explained as RBI Launches CBDC Today

The Reserve Bank is set to launch the first pilot for retail digital rupee (e₹-R) on December 1, 2022, in which four banks including SBI and ICICI Bank will initially participate. On November 1, the RBI had launched the first pilot in the digital rupee – wholesale segment. Announcing the operationalisation of Central Bank Digital […]

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India to use G20 presidency for global biofuels alliance

NEW DELHI: India will leverage its presidency of the G20 to form a global biofuels alliance on the lines of International Solar Alliance (ISA), the Indian inter-government initiative that was jointly launched by prime minister Narendra Modi and then French president Francois Hollande at the Paris COP21 meet in 2015. “India is committed to the […]

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5 Agrochemical Stocks To Watch Out For In 2023

Farmers use agrochemicals on crops to ensure a good harvest.(Representational) Along with infrastructure, agriculture is also the backbone of India’s economy. The sector employs almost half of India’s population, accounting for about 16% of the country’s gross domestic product (GDP). Despite all this, the sector has seen little reforms over decades. India lagged in the […]

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Who Are Angel Investors? Know About Top 5 Angel Investors in India

Angel investors are the ones who get involved with a company at an early stage or the seed funding phase. Angel investors provide capital to needy but worthy business start-ups in exchange of convertible debt or equity. People who have embarked on the journey to form their business ventures should know about the term angel […]

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Kirit Parikh panel for price band to tame CNG, PNG spike

NEW DELHI: A panel under economist Kirit Parikh is set to recommend a price band of $4-6.5 per unit for gas produced from old fields of state-run ONGC and OIL, which would ease pressure on city gas utilities as well as CNG and PNG consumers. But the committee’s report, to be submitted on Wednesday, is […]

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Reserve Bank of India, digital currency, e rupee, RBI Set To Launch Retail Digital Rupee Pilot: 10 Points

Retail digital rupee can, however, be converted into deposits with banks that earn interest. (File) New Delhi: Users can carry out transactions through digital wallets; only those digital wallets offered by banks participating in the RBI’s digital currency drive can transact in retail digital rupee. Come this Thursday, some customers in select cities can start transacting […]

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Sensex, Nifty Settle at Fresh Lifetime Highs; Maintain Winning Momentum for 6th Day

The Sensex and Nifty ended at fresh lifetime peaks on Tuesday amid a largely firm trend in other Asian markets and continuous foreign fund inflows. The 30-share BSE Sensex gained 177.04 points or 0.28 per cent to settle at 62,681.84, its fresh record closing high. During the day, it jumped 382.6 points or 0.61 per […]

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Crypto Exchange Bitfront Shuts Down

Bitfront said it has suspended new sign-ups and credit card payments as of Nov 28.(Representational) Bitfront, a US crypto exchange backed by Japanese social media firm Line Corp, said it has suspended new sign-ups and credit card payments and will cease operations in a few months despite efforts to overcome challenges in the rapidly evolving industry. […]

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Crypto lender BlockFi files for bankruptcy, cites FTX exposure

Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest industry casualty after the firm was hurt by exposure to the spectacular collapse of the FTX exchange earlier this month. The filing in a New Jersey court comes as crypto prices have plummeted. The price of bitcointhe most popular […]

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Bank Credit Growth Rose To 17.2% In July-September, Says RBI

Aggregate deposit growth was at 9.8 per cent in September 2022, RBI said.(File) New Delhi: Bank credit growth increased to 17.2 per cent in the September quarter as against 7 per cent in the year-ago period, the Reserve Bank of India (RBI) said today. It stood at 14.2 per cent at the end of June quarter […]

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Strong bank loan growth in FY23 despite higher interest rates: Fitch

NEW DELHI: Fitch Ratings on Monday said India’s bank credit will see strong growth in current financial year despite effects of higher interest rates. It said the strong loan growth should benefit net revenue, particularly as it will be coupled with wider net interest margins. “We see bank credit expanding by around 13 per cent […]

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