Oil rises after reports of Iranian tanker attack

LONDON: Oil prices rose as high as $ 60.65 a barrel on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, but bearish oil demand forecasts soon pulled crude off session highs. The Iranian Suezmax crude tanker Sabiti was ablaze and suffered heavy […]

Dussehra fails to buoy India gold demand

BENGALURU/MUMBAI: Gold demand in top-consumer China was subdued this week as investors awaited outcome of crucial trade negotiations with the United States, while purchases in India during a key festival were lower-than-usual because of higher prices. India celebrated Dussehra festival on Tuesday, when buying gold is considered auspicious. “Consumers were struggling to adjust (to) the […]

Haryana allows purchase of bajra, paddy sans land records

Chandigarh: The farmers in Haryana are not required to get copy of farad or mutation from the Patwari to sell their produce of paddy and bajra in state mandies. They can sell their produce in the mandis of the State on the basis of information registered on the ‘Meri Fasal Meral Byora Portal’. The farmers […]

Economic Buzz: India Industrial Production Dips 1.1% In August

Industrial output in India declined by 1.1 per cent in August due to poor performance by manufacturing, power generation and mining sectors, official data released on Friday showed. The Index of Industrial Production (IIP) had expanded by 4.8 per cent in August 2018. The manufacturing sector, which contributes over 77 per cent to the IIP, […]

Crude oil futures ease on low demand

Crude oil futures fell 0.77 per cent to Rs 3,736 per barrel on Thursday after speculators booked profits at existing levels amid subdued spot demand. Crude oil for delivery in October was trading lower by Rs 29, or 0.77 per cent, to Rs 3,736 per barrel with a business volume of 16,902 lots on the […]

Indian Rupee: Optimistic On US-China Trade Talks

The Indian rupee appreciated against the dollar in early trades on Friday, 11 October 2019 as optimism about US-China trade talks and gains in domestic equity market enthused investors. Moreover, weakening of the American currency vis-a-vis other currencies overseas also propped the rupee. However, sustained foreign fund outflows and rising crude prices weighed on local […]

Pulses Prices Rise up to 10% as Rains may Harm Output

Prices of pulses such as chana, urad, moong and masoor have increased 5-10 per cent in the past month and are likely to remain firm because rains in Madhya Pradesh and Maharashtra are expected to reduce output, traders said. Chana prices have increased 6 per cent in a month to ₹42-43 a kg now while […]