"Investors are in wait-and-watch mode ahead of the OPEC+ meeting," ANZ analysts said in a note. Sources from the producer group said it will extend its latest round of output cuts until the end of the first quarter at its Dec. 5 meeting. OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has been looking to unwind production cuts by the first quarter of 2025. However, the outlook for surplus supply has put pressure on prices. The group accoun...Read More
The dollar drifted higher, making greenback-priced bullion more expensive for overseas buyers. [USD/] Key U.S. data this week includes the job openings due later in the day, the ADP employment report on Wednesday, and the payrolls report on Friday. "It seems we're just oscillating in one place until a new trigger emerges... Fed rate cut expectations are likely to define what comes next," said Ilya Spivak, head of global macro at Tastylive. "Another 25-basis-point cut this month seems likely a...Read More
The Employees' Provident Fund Organisation (EPFO) via its circular asked the employees to activate their Universal Account Number (UAN) and Aadhaar seeding of the bank account. The activation and linking was to be done by November 30, 2024, so employees could get the direct benefit transfer (DBT)of the Employment Linked Incentive (ELI) scheme directly into their bank account. However, some employees would have missed the deadline to activate and link their UAN by November 30, 2024. ET Wealth spo...Read More
Nagaland Lottery Sambad Tuesday (December 3, 2024): The conducting and playing of lottery games is completely prohibited in all other states of India, except for 13 states where these activities are permitted. Lottery games and operations have been permitted in 13 Indian states since 1967, including Nagaland. These twelve states are Assam, Mizoram, Kerala, Meghalaya, Manipur, Madhya Pradesh, Maharashtra, Goa, West Bengal, and Sikkim. Under the direction of the Finance Department, the Nagaland S...Read More
SpaceX is in discussions to sell insider shares that could boost the value of Elon Musk's rocket and satellite company to around $350 billion, according to people familiar with the matter. That would be a significant premium to a previously mulled valuation of $255 billion as reported by Bloomberg News and other media outlets just last month. It would also cement SpaceX's status as the most valuable private startup in the world. SpaceX was last valued at about $210 billion in a tender offer ear...Read More
Oppo recently announced its latest flagship smartphones, the Find X8 and Find X8 Pro, in India. Starting today, both handsets are available for purchase via online and offline platforms. In addition to this, Oppo is also offering additional bank discounts, easy no-cost EMI options and other benefits on the purchase. Oppo Find X8 and Find X8 Pro: Price and availability Oppo Find X8 is available in two variants. The 12GB + 256GB variant costs Rs 69,999, and the 16GB + 512GB variant costs Rs 79,...Read More
Shares of Mukesh AMbani led Reliance Industries (RIL) and state-owned ONGC saw a recovery of about 2% from their day's lows on Monday following the government's decision to scrap the windfall tax on crude oil, aviation turbine fuel (ATF), petrol, and diesel exports. On 3rd December at 12.35 PM, RIL shares were trading positively at ₹1,321.35 per share, marking a 0.93% increase from yesterday. ONGC shares went up by 2.04% at 12.35 PM on 3rd December as compared to 2nd December's closure. The win...Read More
The report underlined a sharp slowdown in incremental credit and deposits compared to the previous year, indicating a challenging environment for banking sector growth. It said, "It's clear that credit growth is declining across sectors as momentum has turned negative, even as favorable base effect is waning". The report highlighted that as of November 15, 2024, incremental credit from all scheduled commercial banks (ASCBs) has grown by Rs 9.3 lakh crore, marking a year-to-date (YTD) growth of...Read More
The Nifty 50 index opened at 24,367.50 points, gaining 91.45 points or 0.38 per cent, while the BSE Sensex opened at 80,529.20 points, up by 281.12 points or 0.35 per cent. Experts noted that Indian stock markets have ignored the GDP numbers and, being in an oversold territory, may rise further and witness a rally leading up to the budget in February. Ajay Bagga Banking and Market Expert stated that "The Indian markets shrugged off the GDP number and moved up on Monday. The government has remo...Read More
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index ...Read More
also read From RBI policy to GDP data to FII flow: Here are 5 factors that will impact market this week JM Financial in a recent report said that foreign investors may be heading back to the United States amid growing optimism about the growth of the world's largest economy with Donald Trump coming back to power. The report highlighted that the sell-off in the Indian market started as a "Sell India, Buy China" trade post the Chinese government announcing stimulus measures for the economy in Sep...Read More
The Ministry of Finance has abolished the windfall tax on crude oil, aviation turbine fuel (ATF), and exports of diesel and petrol products with immediate effect. The government has also scrapped the Road and Infrastructure Cess (RIC) on petrol and diesel exports. The decision was announced through the notifications numbered 29/2024 and 30/2024 released by the Centre on Monday which were laid in the Parliament as well. This move follows an evaluation by the government with reports suggesting th...Read More
India has witnessed a decline in foreign tourist arrivals from Bangladesh during July and August 2024, compared to the same period of the previous year. Additionally, there has been a decrease in the overall number of tourists traveling between the two countries throughout the year. India's tourism sector has seen a noticeable decline in foreign tourists from Bangladesh during July and August this year, as reported by the Ministry of Tourism to the Lok Sabha on Monday. Tourism Minister Gajendr...Read More
The European share index dropped as investors reacted to France's political unrest and the abrupt resignation of Stellantis' CEO. The STOXX 600 fell 0.1%, while the CAC 40 underperformed. France's borrowing costs increased, and sectors like automobiles and tech faced challenges, although some companies saw gains. Europe's primary share index experienced a decline on Monday as investors offloaded French stocks amidst growing political uncertainty in the country. The resignation of Stellantis' CE...Read More
Maruti Dzire Pros And Cons: Maruti Suzuki Dzire, the 4th best-selling car in India to date, has entered its 4th generation with enhanced styling, a youthful design, updated features, and a new Z-series engine. It is priced between Rs 6.79 lakh and Rs 10.14 lakh (introductory, ex-showroom, pan-India). Now, the question is: should you buy the new Maruti Dzire? To answer this, I took the Maruti Dzire for a spin to understand it from the driver's seat and through real-world experience. Based on my e...Read More
Investing.com -- The US e-commerce sector performed strongly during the Thanksgiving and Black Friday shopping period, Oppenheimer revealed in a new industry report. Specifically, Data from Adobe (NASDAQ:ADBE) and Salesforce (NYSE:CRM) indicated year-over-year accelerations in consumer spending on Thanksgiving, while Black Friday also showed positive trends, with Adobe and Mastercard (NYSE:MA) SpendingPulse reports suggesting year-over-year accelerations. Shopify (NYSE:SHOP) recorded a 22% inc...Read More
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable...Read More
SHANGHAI, Dec. 02, 2024 (GLOBE NEWSWIRE) -- MultiMetaVerse Holdings Limited (NASDAQ: MMV) (MMV or the Company), a leading animation and entertainment company for young consumers in China, today announced that it has signed a definitive share exchange agreement (the Share Exchange Agreement) with the shareholders (the Transferors) of Bowong AI Limited (Bowong Cayman), which, after a series of restructuring transactions, is expected to indirectly hold 100% equity interests in Bowong Technology (Sh...Read More
LONDON - The Rank Group (LON:RNK) Plc, a British gambling company, announced today the appointment of Mr. Christian Nothhaft as a non-executive director, effective immediately. This change comes as Mr. Chew Seong Aun retires from the board, also effective today. Mr. Nothhaft brings a broad range of experience to the Rank board, including expertise in digital transformation. Alex Thursby, Rank's chairman, expressed confidence in Nothhaft's abilities, stating that his international and strategic ...Read More
Investing.com -- Analysts at RBC Capital Markets in a note dated Monday have provided updated ratings of five key players in the UK housebuilding sector as part of its 2025 UK Housebuilder preview. The analysts reflect on a broad spectrum of adjustments, market challenges, and changes in valuations for these companies: Crest Nicholson (LON:CRST), Gleeson (LON:GLEG), Barratt and Redrow (LON:RDW), Vistry (LON:VTYV), and Persimmon (LON:PSN). Crest Nicholson has been upgraded to "sector perform" f...Read More
Vastu Housing has raised $100 million from the global consumer internet group Prosus. The Amsterdam-based investor has acquired an 8.4% stake (7.8% fully diluted) in the home finance company. Vastu Housing Finance is a prominent player in the affordable housing finance sector, focusing on underserved communities. In September, Vastu received a $50 million loan from the United States International Development Finance Corporation (USDFC). Housing finance companies have attracted significant fund...Read More
Black Friday and Cyber Monday are more than just retail extravaganzas. If used and analysed properly, they're a treasure trove of insights into consumer behaviour. For startups aiming to carve out their niche, understanding the dynamics of these shopping events can offer valuable lessons about what drives purchasing decisions, how to create urgency and how to foster customer loyalty. Because, of course, every business is different. One of the key behavioural triggers on Black Friday and Cyber ...Read More
Seoul : Hyundai Motor, South Korea's biggest carmaker, said on Monday its sales fell 3.7 per cent last month from a year earlier due to a slowdown in vehicle demand. Hyundai Motor sold 355,729 vehicles in November, down from 369,356 units a year earlier, the company said in a statement. Domestic sales slumped 12.3 per cent to 63,170 units, while overseas sales slipped 1.6 per cent to 292,559, the statement said. From January to October, its sales dropped 1.7 per cent to 3,809,424 units from 3...Read More
New Delhi: In an effort to further strengthen its maritime operational capabilities, India will be inking two deals next month, to procure 26 Rafale (M) fighter aircraft and three Scorpene class submarine, with France under the inter-governmental agreement. Speaking at the annual press conference in the national capital, Indian Navy chief Admiral Dinesh K Tripathi on Monday said: "Rafale Marine is at an advanced stage of negotiations and is only one level short of taking it to the Cabinet Commi...Read More
The raids were conducted over a period of 10 days. A total of Rs 352 crore was seized in these operations. IT raids are common in India. However, a recent IT raid made headlines. Officials spent nearly ten days counting the cash. Initially, they started counting manually. Income Tax officials used a scanning wheel machine to detect buried items, indicating the raid's intensity. The Income Tax Department teams conducted raids in various locations. The Income Tax Department ordered three dozen ...Read More
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers s...Read More
Mahindra's total sales volumes stood at 79,083 in November 2024 with the company's SUV lineup making up a major share of 46,222 units Mahindra has released its sales data for November 2024. Sales of the company's passenger vehicles have improved to 46,222 units which was a 15.16% YoY growth from 39,981 units sold in Nov 2023. This related to a 6,241 unit volume growth. MoM sales however fell by 15.20% when compared to 54,504 units sold in Oct 2024 relating to a decline by 8,282 units. The comp...Read More
A comfortable launch pipeline (availability of low-cost land bank and scope to accumulate more) would drive bookings/collections CAGR of 18%/39%, respectively, during FY24-27E, generating a healthy cashflow stream. This, coupled with a deleveraged balance sheet and likely fund-raise of Rs20bn, would pave the way for a sharp ramp up of the company's Data Center (DC) business. Availability of land/civil structures gives competitive advantage and would aid faster capacity addition (expected @102MW ...Read More
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, an...Read More
Monthly Love Horoscope For December 1- 31: December Might Bring A New Partner In Your Life, Zodiacs India Passenger Vehicle Sales In November 2024: The passenger vehicle (PV) sales in India increased about 4 per cent (year-on-year) at 3,50,000 units in the month of November, data showed on Monday. The total domestic PV wholesales stood at 335,954 units last month, driven by robust demand during the wedding season, increasing private consumption and SUV sales. If we look at the January-November ...Read More