India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Chennai: The escalating tensions in the Middle East saw a spurt in the prices of crude, natural gas, gold and silver on Monday. Analysts warn that prices could move further northwards if the tensions remain heightened. In the Multi Commodity Exchange, crude prices gained 8.5 per cent to Rs 6600 per barrel from the Friday closing level of Rs 6092. West Texas Intermediate (WTI) prices moved up 7.6 per cent on Monday, a day after Iran supreme leader Ayatollah Khamenei died in a US-Israeli strike. It had gone up to $75.43 a barrel in the morning but cooled down after the OPEC countries announced their plan to increase April output by 206,000 barrels per day, around 0.2 per cent of the global demand. Brent crude too had gone up to $82.37/bbl in the morning but came down to $78.45 later in the day. "Increased production by OPEC will not solve the supply situation as ships are not moving through the Strait of Hormuz, which is used for carrying roughly 20 per cent of global oil," said Ajay Kedia, MD, Kedia Commodities. If WTI prices move towards $92.40, Indian crude prices can see levels of Rs 7800 per barrel as oil from other sources like Venezuela add to the shipment cost. Natural gas prices climbed 4 per cent to Rs 300 MMBtu, as prices in the international market crossed $3.5. This was mainly due to the movement in crude prices. With the winter season receding in the US and Europe, the demand for natural gas is subdued. However, if tensions continue till the restocking period in April, prices can move up faster. Gold and silver made gains due to geo-political tensions. Gold in the MCX gained around Rs 7000 per 10 gm as it moved up to Rs 1,69,000. Silver too gained 5 per cent to touch Rs 2,97,000 per kg. In the international market, gold was trading at $5380 levels as silver at $97. "If tensions continue, gold prices can shoot up to $6180 and silver to $110. However, any effort to de-escalate tension will see prices falling off from these levels," he said. Meanwhile the dollar index too gained on Monday to 98.60 as safe haven demand triggered purchase of greenback along with gold and silver. Aluminum was another metal that made gains on Monday due to supply concerns. Some of the agri commodities were trading lower in the fear of lower consumption by the Middle East.
Air India launched a Black Friday Sale with discounts up to 20% on domestic flights and up to 12% on international flights to various destinations. The sale is available through the airline's website and mobile apps. Additional savings are possible with waived convenience fees and specific payment methods. The airline continues offering student and senior citizen discounts.Air India on Friday launched a limited-time Black Friday Sale offering discounts of up to 20 per cent off base fares for domestic flights within India. The Tata-owned airlines will also offer up to 12 per cent off base fares ...Read More >
Air India is also offering additional discounts through various payment offers, so you can enjoy even more savings. Air India has launched its limited-time Black Friday Sale, offering up to 20 percent off base fares for domestic flights and up to 12 percent off on international flights to destinations like the United States, Europe (including the UK), Australia, Southeast Asia, and South Asia. The sale is available exclusively on Air India's official website and mobile apps for iOS and Android. The sale runs from 00:01 IST on 29 November 2024 to 23:59 IST on 2 December 2024. The travel peri ...Read More >
Ahmedabad, Dec 4 (VOICE) A grand celebration of BAPS volunteer services is set to be organised at Narendra Modi stadium, the world's biggest cricket stadium on December 7, to mark the selfless service and devotion of more than 1 lakh volunteers. The occasion will begin with a heartfelt tribute to Pramukh Swami Maharaj on his birth anniversary, celebrating his pioneering efforts in fostering a global community of selfless volunteers. The event will be graced by BAPS spiritual leader Mahant Swami Maharaj and attended by Home Minister Amit Shah, Gujarat Chief Minister Bhupendra Patel. The year- ...Read More >
NEW DELHI, Dec 11 (Reuters) - London copper prices climbed to a nearly one-month high on Wednesday, as markets drew support from top consumer China's recent announcement that it will ease monetary policy and adopt a proactive fiscal policy to propel growth next year. Three-month copper on the London Metal Exchange (LME) was up 0.8% at $9,290 per metric ton, as of 0353 GMT. The contract briefly touched $9,314 per metric ton, its highest level since Nov. 12. The most-traded January copper contract on the Shanghai Futures Exchange (SHFE) rose 0.4% to 75,690 yuan ($10,443.31) a ton. China will ...Read More >
The best performers of the session on the Moroccan All Shares were Disty Technologies SA (CSE:DYT), which rose 4.94% or 12.00 points to trade at 255.00 at the close. Meanwhile, Ste de Travaux de Realisation d'Ouvrages et de Constuction Industielle SA (CSE:STR) added 4.62% or 2.14 points to end at 48.49 and Jet Contractors (CSE:JET) was up 4.50% or 68.00 points to 1,580.00 in late trade. The worst performers of the session were Disway SA (CSE:DWY), which fell 4.26% or 28.00 points to trade at 630.00 at the close. AFMA SA (CSE:AFM) declined 4.22% or 48.00 points to end at 1,090.00 and Stokvis N ...Read More >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
Bhubaneswar: Opposition BJD and Congress MLAs Tuesday staged a walkout from the Odisha assembly, accusing the ruling BJP of failing to control prices of essential commodities and resolve the potato crisis in the state. The issues were debated in the House over the admissibility of an adjournment motion moved by the Opposition on price rise of vegetables, pulses, edible oil and fuel. The opposition members took exception to comments made by Food Supplies and Consumer Welfare Minister K C Patra that adverse climate conditions, rates in international and domestic markets, and less production by ...Read More >
The Indian government has awarded fiscal incentives totaling Rs 4,150 crore to four companies, including the BCGCL joint venture, for developing coal gasification projects aimed at producing ammonium nitrate, synthetic natural gas, and ethanol. This initiative is part of India's Rs 8,500 crore Coal Gasification Incentive Scheme. In a strategic move, the Indian government on Thursday granted fiscal incentives amounting to Rs 4,150 crore to four companies to bolster coal gasification projects. Amo ...Read More >
Ghaziabad: The police arrested a couple on Wednesday for robbing a pedestrian in Crossings Republik on Nov 15. Wave City ACP Lipi Nagayach said unknown individuals on a scooter snatched a woman's gold chain near Ajnara market in the Crossings Republik area on Nov 15. Once the woman filed a complaint, a case was registered under section 304 (snatching) of BNS, and police teams were formed to probe the incident. "With the help of CCTV footage, manual input, surveillance, and a tip-off, Vivek Pandey (29) and his wife Kirti Sharma (28) were nabbed from Chitrawan society in the Crossings Republik ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
Mumbai, (UNI) The Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit (MZU), has successfully busted a major gold extraction and refining facility involved in the illegal melting of smuggled gold, officials said here on Tuesday. Acting on a specific intelligence, DRI officers conducted searches at three related locations, leading to the recovery of substantial quantities of smuggled gold, silver, and cash. The operation resulted in the seizure of 23.92 kilograms of gold bars and melted form, including foreign-marked gold, along with 37 kilograms of silver. Additionally, cash amount ...Read More >
New Delhi, Dec 12 (PTI) Tata Consultancy Services (TCS) has extended its partnership with mobile operator firm Telenor Denmark, signing a five-year deal to manage the telecom operator's IT infrastructure. Over the last six years, TCS has implemented its Machine First Delivery Model to enhance Telenor Denmark's IT infrastructure, which caters to more than 1.6 million users. With the extension of this partnership, TCS will work from its delivery centre in Europe to ensure operational cost reductions and improved IT infrastructure for Telenor, according to a company statement. "The key highlig ...Read More >
The escalating conflict could upset a hard-fought consensus that G20 negotiators reached around 5 a.m. on Sunday, after an overnight push to ready the joint statement for final review by leaders arriving in Rio. That preliminary consensus after six days of negotiations included streamlined language about global conflicts including the war in Ukraine, focusing on the need to negotiate peace rather than criticism of any participants. However, sources said even that "simpler" consensus may now be up for reconsideration following the Russian air strike and the prospect of further escalation. Un ...Read More >
In the financial sector, the rise of generalist lenders is gaining traction as market dynamics shift. Once overlooked, lenders offering a broad spectrum of services are now favored over specialists like microfinance or affordable housing lenders. Post-COVID, regulatory pressures and emerging risks in niche sectors have driven many lenders to diversify their portfolios, appealing to investors seeking stability. From gold loans to SME lending, diversification mitigates risk and strengthens customer relationships. As the financial landscape evolves, the demand for generalist lenders is expected t ...Read More >
The global smoke grenade market is expected to grow from $297.24 million in 2023 to $456.46 million by 2031, driven by a 5.5% CAGR. Military, law enforcement, and emergency services are the primary sectors fueling demand, especially for tactical operations, training, and crowd control. Advances in technology have led to safer, more effective smoke grenades, while commercial uses in activities like paintball and film production are rising. Environmental concerns are promoting the development of eco-friendly products. North America leads the market, with rising military expenditures further boos ...Read More >
New Delhi: ONGC's production trend is beginning to turn after eight straight years of fall as a key new field in KG Basin ramps up and the old Mumbai High asset arrests decline. ONGC's crude production rose 3% year-on-year in November to 53,804 tonnes per day (tpd) and the output growth so far in December has accelerated to 4.2% to 54,535 tpd, according to people with knowledge of the matter. The output was marginally higher in three of the first seven months this fiscal year but there is a cle ...Read More >
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as things come back, we should be holding our projections and FY25 should be one of the strongest years in t ...Read More >
Uber has launched India's first Shikara ride on Srinagar's Dal Lake, offering a unique and scenic experience. This new service allows passengers to enjoy the tranquil beauty of the lake while riding in a traditional Shikara boat. Booking is easy through the Uber app, with rides available daily from 10 AM to 6 PM. This initiative aims to boost tourism in the region while providing locals with a new way to experience the lake. With Uber's entry into the Shikara market, visitors can now enjoy a blend of modern convenience and traditional charm on Dal Lake. ...Read More >
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. "The next big thing is going to be the payrolls on Friday night because it'll tell us whether the Fed is essentially going to green-light the interest rate cut in a couple of weeks," said Kyle Rodda, financial market analyst at Capital.com. Fed Governor Christopher Waller on Monday said with inflation still forecast to fall to 2%, he is inclined "at present" to support another rate cut later this month. The comments boosted expectations of a rate ...Read More >
Benchmark indices Sensex and Nifty rallied for the third straight session on Tuesday (December 3, 2024) amid buying in blue-chip stocks like HDFC Bank, Reliance Industries and firm trends in global markets. The BSE benchmark Sensex jumped 597.67 points or 0.74% to settle at 80,845.75. During the day, it surged 701.02 points or 0.87% to 80,949.10. The NSE Nifty went up by 181.10 points or 0.75% to 24,457.15. From the 30-share Sensex pack, Adani Ports surged nearly 6%. NTPC, Axis Bank, State Bank of India, Larsen & Toubro, UltraTech Cement, Tata Motors, HDFC Bank and Reliance Industries were ...Read More >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...Read More >
New Delhi, Dec 12 (PTI) Gold prices climbed Rs 500 to Rs 80,900 per 10 grams in the national capital on Thursday due to persistent buying by retailers and jewellers, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity finished at Rs 80,400 per 10 grams in the previous trading session. The yellow metal has jumped nearly Rs 2,000 in the past three sessions. Silver also rallied Rs 700 to Rs 97,000 per kg on Thursday. The white metal settled at Rs 96,300 per kg in the previous session. The price of gold of 99.5 per cent purity also surged Rs 500 to Rs 80,5 ...Read More >
New Delhi, Dec 13 (PTI) The Supreme Court on Friday granted conditional future bail to former West Bengal minister Partha Chatterjee in a money laundering case related to the cash-for-job scam. A bench of Justices Surya Kant and Ujjal Bhuyan said that Chatterjee shall be released on February 1, 2025 subject to the trial court framing charges before the winter vacation and examination of vulnerable witnesses by the second and third week of January 2025. The top court said upon his release Chatterjee shall not hold any public office but can continue as MLA. The bench said that a suspect canno ...Read More >
A summary of world news briefs includes Hezbollah's media chief killed by Israeli airstrike, U.S. policy shift allowing Ukraine to use American weapons against Russia, Xi Jinping's final talks with Joe Biden, and other geopolitical developments including climate finance consensus at the G20 in Brazil. In a significant escalation of regional tensions, Lebanese Hezbollah's media relations head, Mohammad Afif, was killed in an Israeli strike in central Beirut. The attack targets a senior Hezbollah figure, signaling a rare focus on individuals without explicit military roles. The U.S. administra ...Read More >
Still, the ongoing U.N. climate talks have thrown a spotlight on their efforts to tackle global warming. While the COP29 summit in Baku, Azerbaijan, is tasked with agreeing a goal to mobilize hundreds of billions of dollars for climate, leaders of the Group of 20 major economies half a world away in Rio are holding the purse strings. G20 countries account for 85% of the world's economy and are the largest contributors to multilateral development banks helping to steer climate finance. "The spotlight is naturally on the G20. They account for 80 percent of global emissions," U.N. Secretary Ge ...Read More >
In the Indo-Pacific region, if one development would prove to be a landmark event in the region's modern history, it would be the signing of the Treaty of Comprehensive Partnership between North Korea and Russia in June 2024. The partnership has paved the way for strengthening bilateral ties between Moscow and Pyongyang and marked the onset of the global order transition, which was already underway. The institutionalization of the U.S., South Korea, and Japan's trilateral security cooperation has also given Russia and North Korea another strategic reason to collaborate. Therefore, with the geo ...Read More >
Chennai, Dec 3 (PTI) Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. As the country's heating, ventilation, air-conditioning, and refrigeratio ...Read More >
New Delhi, Dec 13 (PTI) The Supreme Court on Friday granted conditional future bail to former West Bengal minister Partha Chatterjee in a money laundering case related to the cash-for-job scam. A bench of Justices Surya Kant and Ujjal Bhuyan said that Chatterjee shall be released on February 1, 2025 subject to the trial court framing charges before the winter vacation and examination of vulnerable witnesses by the second and third week of January 2025. Also Read | Atul Subhash Suicide Case: Wife Nikita Singhania Absconds, Karnataka Police Arrest Her Mother, Brother From Uttar Pradesh's Jaunp ...Read More >
Mumbai, Dec 17 (PTI) The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 84.90 (provisional) against the US dollar on Tuesday, weighed down by disappointing trade balance data and weak domestic markets. Forex traders said the rupee is likely to remain under pressure due to concerns over slowdown in the economy and dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.89 and touched an all-time low of 84.93 against the greenback during intra-day trade. The unit finally ended the session marginally higher by ...Read More >