Market and Business News

Global market turmoil ahead of talks to end Ukraine-Russia war (Gujarat News Correspondent) MUMBAI: As the two countries prepare for peace talks amid a fierce war between Russia and Ukraine, Russia's currency, the ruble, has plummeted against the US dollar ahead of the talks, with Russia's economy crumbling and the economy weakening. Amid the turmoil in global markets, the Indian stock market also witnessed a major upheaval today. Crude oil prices rose again, with Brent rising ૯૭ 4.5 to close at ૨ 103.50 and Nymex rising ૫ 2.15 to ૭૪ 4.5. The US dollar had gained five paise to Rs 4.5 against the rupee. Foreign portfolio investors (FPIs) continued to exit today, with FIIs continuing to sell heavily in Indian stocks. While local institutional investors were constantly buying local funds. Indian stock markets will be closed on Tuesday, March 1, 2072 on the occasion of Mahashivaratri. Sensex rebounded 4 points after a sharp recovery after an initial 108-point crash. Funds, expe...

MUMBAI: Madhabi Puri Butch, the first month chairperson of the Securities and Exchange Board of India (SEBI), has been appointed as the new head of the Securities and Exchange Board of India (SEBI). He will replace current chairman Ajay Tyagi, whose term ends on February 8. Former SEBI full-time Madhabi Puri Butch was earlier nominated to head the new technology committee formed by SEBI. Butch is not only the first woman full time member of SEBI but also the first person from the private sector to take the helm of SEBI. She started her career with ICICI Bank and was the MD and CEO of ICICI Securities from February 2009 to May 2011. He moved to Singapore in 2011 to join Greater Pacific Capital LLP. Until October 2021, he was the full time director of SEBI.

New Delhi: The war between Russia and Ukraine has erupted in crude oil and will have the most adverse effect on India. India's crude oil import bill is expected to cross ૦૦ 100 billion in the current financial year 206-2. This is double the cost of importing crude oil from India last year. Russia's attack on Ukraine has led to a surge in global crude oil prices to ૫ 105 a barrel, the highest in seven years. On the other hand, the weakening rupee against the dollar has pushed up imports. According to the Ministry of Petroleum, India has spent a whopping ૩ 4.5 billion on crude oil imports in the first 10 months of the current financial year. In January alone, KD spent ૬ 11.5 billion, up from ૭ 4.5 billion last year. According to economists, India's crude oil import bill could reach થી 110 billion to ૫ 115 billion in the current financial year. India imports 3% of its crude oil needs. So, in the last financial year 2020-21, India spent ૬૨ 4.5 billion on importing 127 milli...

New Delhi: Global crude oil, cereals, metals and edible oil prices continued to rise on Monday in the wake of Russia's nuclear attack. Aluminum showed a new record surface. Chicago wheat prices have risen as much as five percent due to concerns over supply disruptions due to sanctions imposed on Russia. Aluminum prices on the London Metal Exchange were quoted at an all-time high of ૩૫૨૫ 6 a tonne. Concerns over supply disruptions have pushed up aluminum prices. Nickel prices were also pro-improvement. Russia accounts for about 3% of global aluminum production. Malaysian palm oil also rose 3%. Higher crude oil prices have led to a rebound in Japanese rubber futures, according to reports. Natural rubber prices are quoted according to the direction of energy prices. Because synthetic rubber is derived from crude oil. The rise in Chicago wheat prices on Monday in agricultural markets was the biggest daily surge in a decade. The rise in global wheat prices is expected to be benefic...

(Gujarat News Office) MUMBAI: Gold and silver prices rose sharply in the Mumbai jewelery market today. There was news of a resurgence of prices in the world market. Global gold prices jumped again to ૯ 1,200 an ounce. Crude oil prices in the world market today rose sharply by 3 to 4 percent. Gold and crude prices rose in world markets as tensions between Russia and Ukraine escalated. Russia's central bank has raised interest rates from 8.50 per cent to 20 per cent. Russia's central bank has also said it will increase buying in gold. Gold prices in the world market today jumped from ૮૮૯ 15 to ૮૯ 120 and were quoted at ૬ 1,308 to ૭ 1,305. Global crude oil prices jumped from ૫૯ 61.3 a barrel in New York to ૧ 8.10 a barrel today, while Brent crude jumped from ૯૩ 6.5 a barrel to a high of ૫ 105.05 and a 104.5 a barrel. Russia's crude supply in the world market was seen to be surging. The rise in crude also had a knock-on effect on gold prices. After gold, the global silver pr...

(Gujarat News Office) MUMBAI: The Mumbai oilseeds market rallied today. Manufacturing establishments were booming. The global variety of edible oils rose as crude oil rebounded in the world market. However, new demand was on the rise in the Mumbai market, meanwhile, trade in sunflowers in the Mumbai market came to a standstill today and no price was raised, market sources said. Sunflower is mainly grown in Ukraine and Russia, and supply from there is stagnant. As a result, prices in the Mumbai market have come to a halt. Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil was quoted at Rs 150 to Rs 1,200 and cottonseed oil at Rs 1,200. Palm oil rose by Rs 1,215 to Rs 120 while crude palm oil CPO Kandla was quoted at Rs 1,200. In the Mumbai market, soyoil prices rose to Rs 15 for digam and Rs 150 for refined. On the Saurashtra side, there were indications that the price of cingulum oil was Rs. In the US today, soyoil prices rose 4 to 5 points in the project...

Chart Hint: Ashok Trivedi The BSE Index (Closed 7.5 on 9-08-2) is prone to softening from a peak of 7.5. At present, the average for 15 days is 6.15 and for 8 days it is 8.05 and for 200 days it is 304.5. Daily and weekly MACDs are soft. Shows position towards oversold on daily and weekly basis as well as oversold on monthly basis. Above 212, 30, 2110 is considered as resistance level. If the bottom 2 breaks down to 2, the probability is up to 20, 2110, 20, 21500. Aarti Industries (closing price of Rs. 3.3 dt. 2-06-9) is pro-softening from the top of 1112. At present, the average for 15 days is 7.5 and for 8 days it is 4.5 and for 200 days it is 313.5. Daily and weekly MACD is pro-softening. Shows position towards oversold on daily, weekly as well as monthly basis. Above 6 is considered as 3 above resistance surface. Possibility of 50, 210, 5 below 21 below. Adani Enterprise (Closed Price Rs. 1912.50 Dt. 3-06-9) is pro-softening from the top of 1905. At present the average for 15 d...

- Swift is headquartered in Belgium and is governed by a board of 25 people New delhi date. Sunday, February 27, 2022 Many countries, including Ukraine, are worried about Russia's attacking mood. Ukraine has also urged all countries to take steps to stop Russia. Following the Russian invasion, the Baltic foreign ministers demanded a ban on Russia for SWIFT, the Society for Worldwide Interbank Financial Telecommunications. The foreign ministers said the facility should not be launched for Russia until the ceasefire. So let's find out now what this Swift facility is that banning it could hurt Russia. What is the Swift system In fact SWIFT is a code. Just as the IFSC code is required for banking transactions in India, the SWIFT code has to be used for sending or receiving money from abroad. Swift codes are used to identify a bank or branch in an international money transaction. Its full name is Society for worldwide interbank financial telecommunication. As the name implies, ...

(Gujarat News Correspondent) MUMBAI: Global stock markets and commodity markets have seen the expected major upheaval in the past week as Russia finally invaded Ukraine. In today's world, many nations have large quantities of nuclear weapons, so developed nations, such as the United States, Russia, and China, do not have the strength to wage a world war. The history of what happened between Ukraine and Russia last Thursday is being forgotten and it is now imperative to keep investing in stocks of companies with good fundamentals. The Sensex and Nifty closed higher on Friday. In which the US Federal Reserve will raise interest rates by 0.50%, the factor has also been discounted. If the US Federal Reserve raises interest rates by 0.5 per cent, the market could rise or fall from Friday's close. Even if the Federal Reserve raises the interest rate by 0.50%, the market may fall one day, but then it is likely to return to its level. There is a golden opportunity to invest in the mar...

MUMBAI: The Cotton Association of India has slashed its crop production estimates by five lakh bales for the October-September 2031 Neeru season from 2021 to 5.15 lakh bales of 150 kg each. Gujarat, Telangana and Karnataka have seen lower crop yields than expected, said Atul Ganatra, president of the association, in a statement. Due to low domestic production, cotton imports are expected to increase to 12 lakh bales in the current season. Exports of cotton from India, which was 3 lakh bales last year, are expected to fall to 5 lakh bales this year. In the first four months of the current season, a total of 2.50 lakh bales were collected, the statement said.

MUMBAI: Gold and silver prices remained soft in the global market over the weekend, with prices falling privately in the domestic closed market on Saturday. World markets on Friday saw a sharp fall in the price of the precious metal, following reports that Russia and Ukraine will be on the negotiating table. At home, the Mumbai gold and silver market was closed on Saturday, but behind the world market, private prices were quoted lower than on Friday. Gold was quoted at Rs 30,800 per ten grams excluding GST and Rs 30,100 per 2.50. Prices were quoted three per cent higher with GST. Silver also traded at Rs 200 per kg in the closed market, market sources said. In Ahmedabad, silver was priced at Rs 2,000 per kg. While gold was quoted at Rs 2.50 per ten grams, Rs 31,200 and Rs 2.50 per gram. Gold for immediate delivery closed at ૮૮૯ 17.8 an ounce and silver at ૨૭ 4.5 an ounce on Friday. Palladium, another precious metal, was trading at ૭૨ 6.5 an ounce, while platinum was trading at ૫૯...

New Delhi: According to the Department for the Promotion of Industry and Internal Trade (DPIIT), foreign direct investment (FDI) inflows to India fell by 12 per cent to 2.16 billion during the nine months from April to December 2021. Last year, foreign direct investment (FDI) in the country stood at 21.5 billion during the period under review. Total FDI inflows (including equity flows, reinvestment of earnings and other capital) during the first nine months of the current financial year have declined to ૬ 20.8 billion from ૫ 4.8 billion in the year-ago period. Equity inflows also fell to ૨ 16 billion in the third quarter from October 2011 to December 2011 from ૨ 21.5 billion in the same period last year.

New Delhi: The Center on Saturday approved up to 50 per cent foreign direct investment (FDI) in LIC. The government has approved a proposal to increase foreign investment in the Life Insurance Corporation of India, which is preparing for an IPO. The government's move will ease the disinvestment of the country's largest insurance company. The decision was taken at a cabinet meeting chaired by Prime Minister Narendra Modi on Saturday. The government has approved the listing of LIC's shares in the stock market through an IPO. It is only natural that foreign investors should be willing to participate in this mega IPO. However, under the current FDI policy, there is no special provision for foreign investment in LIC, a corporation formed under the LIC Act, 18. It may be mentioned here that as per the FDI rule, the limit for foreign investment in public sector banks under the government approval process is 50 per cent. Therefore, it has been decided to allow up to 50 per cent ...

MUMBAI: Amid chaos in the equity-debt market, Indian foreign exchange reserves rose last week. India's foreign exchange reserves rose by ૭૬ 2.6 billion to ૬૩૨ 2.7 billion in the week ended February 15. According to the weekly data released by the Reserve Bank of India, foreign exchange reserves rose by ૭૬૨ 2.7 billion to ૬૩૨ 2.7 billion in the week ended February 18, 2008. It may be mentioned here that the country's foreign exchange reserves reached a historic high of ૪૫૩ 4.5 billion on September 4, 2021. Foreign currency assets, which account for a significant share of the total reserves. Depreciation of global currencies other than the dollar, such as the euro, pound and yen, against the dollar also affects the FCA. Last week's rise in foreign exchange was attributed to Foreign Currency Assets (FCAs). FCA accounts for a significant portion of total currency reserves. The Reserve Bank of India (RBI) said India's FCA rose by ૪૯૬ 1.6 billion to ૬ 3.08 billion in the ...

MUMBAI: Eleven brokerage firms and two foreign portfolio investors (FPIs) are on the radar of the income tax department in the National Stock Exchange (NSE) scandalous co-location case. His involvement in the co-location case is being investigated by the income tax department. It has been investigated whether some of the board members of NSE got hidden benefits in return for providing sensitive information. Sources familiar with the case said income tax officials suspect the brokerage entities used the tax haven to buy property, finance the holiday and invest in some of the board members 'families' businesses. Investigators include Infotech Financial Pvt Ltd, which obtained trading data from the NSE to calculate the liquidity index. Sunita Thomas, wife of Suprabhat Lala, a senior NSE official, was among the directors of Infotech Financial. According to the first report of the SEBI co-location case, Thomas was also the sister-in-law of Ajay Shah, another NSE official. He was...

MUMBAI: Nine out of 10 Indians who have a bank account in major Indian cities are now using a mobile banking application, which has seen an increase in online payments following the Corona epidemic. According to a survey conducted by a global agency, 4% of Indians living in metro cities and 4% of Chinese urban dwellers use their mobile banking app at least once a month. "The epidemic has redefined how consumers connect with banks and accelerate the digital transformation in banking," the survey said. With the rise of online payments, the use of ATMs is declining, with the Kovid-12 epidemic leading people to digital payments. Fintech and technology giants are empowering the industry through innovation. Leading technology companies such as Amazon, Antigroup, Apple, Google, Meta, Ping Un and Tencent will work together to enable collaboration of mobile, cloud, application programming interfaces, real-time data and flexible architectures, and to build a comprehensive platform ...

MUMBAI: The stock market's morale has plummeted as Ukraine-Russia war erupts. In these circumstances, analysts believe that if LIC's IPO comes as scheduled, it will face many difficulties. Given the government's stand on the issue, the IPO is unlikely to be postponed. The IPO is likely to come in the second week of March. FPI has risen to Rs. 1.5 lakh crore net sales. If the Russia-Ukraine crisis becomes predominant, the selling of foreign investors may become stronger. Which will affect the market sentiment. Sanctions imposed on Russia will have the opposite effect on global trade and the associated economy. These sanctions are expected to have far-reaching effects on India. Given the way things are going, the possibility of further rise in oil prices cannot be ruled out. If the nuclear deal with Iran fails and OPEC countries refuse to increase production, oil shortages will worsen and global crude prices will rise further. Which will affect India and also increase inf...

MUMBAI: An estimated 3.50 lakh tonnes of sunflower oil coming into India from the Black Sea region has stalled at ports and producers, local dealers said. India has also halted new purchases of sunflowers and forced imports of soy and palm oil to halt operations at ports after Russia's invasion of Ukraine. India had signed contracts with Black Sea region suppliers for import of 2.10 lakh tonnes of sunflower oil for February and March delivery. Of this, 1.8 million tonnes of oil was shipped in February, while the remaining 2.4 million tonnes of sunflower oil, valued at ૫૭ 50 million, was stuck in Ukraine and Russia, local traders said. The movement of goods is unlikely to begin until the war is over. The Black Sea region accounts for 40% of the world's sunflower oil production. Out of the total exports of Santel, 3% is exported from this area. India is the largest importer of sunflower oil in the world. Traders are also turning to soy and palm oil as imports of sunflower oi...

(From our representative) MUMBAI: Gold and silver prices rose sharply on Thursday in anticipation of an early end to the war, with NATO countries, including the US, refraining from getting directly involved in the Russia-Ukraine war. Gold and silver also fell sharply from yesterday's prices on the back of global markets. The rupee also appreciated significantly against the dollar. Crude oil prices fell again to within ડો 100. The Russian ruble also stabilized. In the domestic market, the rise in gold prices in the Mumbai market was washed away yesterday and the GST-free price of 10.50 per ten grams, which had closed at Rs 50 yesterday, fell by Rs 15 to Rs 305 today. Gold, which had closed at Rs 70 on Thursday, also fell to close at Rs 303. Prices were quoted three per cent higher with GST. Silver also declined by Rs 4,000 to Rs 315 per kg from Rs 315 per kg. Prices were quoted three per cent higher with GST. In Ahmedabad, silver fell by Rs 1,200 per kg to close at Rs 500, while ...

MUMBAI: The Indian economy, which is recovering from the Corona epidemic, is reported to be hit hard by the Russia-Ukraine war. Nomura, a Japanese financial company, said in a report that the Russia-Ukraine crisis would hurt India the most. The Ukraine crisis will increase inflationary pressures and India will suffer the most in Asia. Rising food and oil prices will have an adverse effect on Asian countries, the report said. The financial position of these countries is not strong. India has raised its fiscal deficit target for the current financial year to 7.5 per cent of GDP. For the next financial year, the estimate has been kept at 7.5 per cent. Nomura said it would have the worst impact on the economies of India, Thailand and the Philippines in Asia. India is a major importer of crude oil. In such a scenario, a price increase would widen the trade deficit. Nomura estimates that a 10 per cent rise in crude oil will reduce GDP growth by 0.50 per cent. It is believed that the Rese...

MUMBAI: The more than 20 per cent rise in crude oil prices in the last one month has led to fears that the Indian government's fiscal arithmetic for the next financial year could deteriorate. Russia's invasion of Ukraine pushed crude oil prices above ૧ 100 a barrel to ૫ 105 a barrel. A report prepared by the Economic Branch of the State Bank of India (SBI) estimates that rising crude oil prices will hit the Government of India's treasury by Rs 1 trillion in the next financial year. Despite the rise in global crude oil prices, the Indian government has maintained retail prices of petrol and diesel unchanged since November 2021. The government has refrained from announcing increase in fuel prices due to Assembly elections in five states. If the current rate of value added tax (VAT) and the price of Brent crude at થી 100 to ૦ 110 per barrel are taken into account, then the price of diesel and petrol should be Rs 5-12 higher than the current price. If the government cuts ex...

(Gujarat News Correspondent) MUMBAI: After the Russian invasion of Ukraine, a swift Russian army captured the Ukrainian city-capitals one after the other and reached the Ukrainian capital in less than 30 hours. Funds also had short covering in the stock markets. Funds that received the signal ahead of the report that Russia is ready to end the war if the Ukrainian government accepts surrender today include stocks in special banking-finance, metal-mining, IT-software services, consumer durables, power-capital goods, automobiles, automobiles. With reduced cover the buying opportunity was faster. With realty, oil-gas and FMCG stocks gaining value, the Sensex jumped 17.61 points to close at 4.50 and the Nifty spot jumped 210.5 points to close at 19.50. International crude oil prices, which had jumped to ન્ટ 105 a barrel yesterday, fell to close at ૩૫ 4.5 a barrel today and close to ય 4.50 a barrel on Nymex crude. The US dollar had lost 3 paise to Rs 4.5 against the rupee. Bankex jumps 12...

Ahmedabad: Russia has launched a war by attacking Ukraine. President Putin says he has no desire to occupy Ukraine but could do so. Putin wants to bring back the days of his former Soviet Union. On the other hand, despite good relations with India, if chaos spreads in Ukraine, instability could affect India. Not geographically, not in terms of imports and exports or the economy, but the protracted Ukraine war in the kitchen could have serious repercussions. In India, the effects of the tense situation in Russia and Ukraine can be seen on things like edible oil, maize, wheat. One, India is the largest importer of edible oil in the world. India imports palm oil from Indonesia and Malaysia, soyoil oil from Argentina and sunflower oil from Ukraine. Ukraine accounts for 40% of India's total sunflower oil imports. The area in which Ukraine is located is called the Black Sea region. With 70 per cent of the world's sunflower oil being produced and 5 per cent exported from here, ther...

AHMEDABAD: The Russia-Ukraine war has sent shockwaves through stock markets around the world, including in India. As a result, the Indian rupee depreciated to its highest level in 10 months against the US dollar on Thursday. The Indian rupee had lost 110 paise, or 1.3 per cent, to close at 5.5 against the dollar in early trade on Thursday. The Indian rupee opened at 6.5 against the dollar on Wednesday's closing level of 4.5 on Thursday and touched a high of 6.5 and a low of 6.5 during the session. According to forex market analysts, the Indian rupee may now find some support at 7.50 as the Reserve Bank of India (RBI) may sell foreign exchange reserves against the dollar to curb the depreciation of its currency. India had foreign exchange reserves of 20.12 billion as on February 11. However, if the Indian currency comes under further pressure, it could depreciate by Rs 5 against the dollar. There are many reasons behind the depreciation of the rupee. Factors such as the Russia-U...

MUMBAI: Prices of major industrial commodities manufactured and exported by Russian companies invading Ukraine have finally risen sharply, with aluminum and nickel prices hitting record highs. While tensions are unlikely to ease in the near future, global prices of most commodities are still expected to rise. Global food inflation is expected to rise as a result of rising wheat and palm oil prices. Wheat prices hit a nine-year high. Palm oil prices hit record highs. The movement of cargo ships in the European region has begun to be affected, with the country's importers worried that supplies will be disrupted in the coming days, an analyst said. Aluminum prices rose to record highs on the London Metal Exchange. Aluminum futures were quoted at 6 a tonne. Nickel prices have also risen to બાદ 50 per tonne, the highest level since 2011. Russia is the third largest producer of gold in the world after Australia and China. Russia's share in global gold mining is about 10 percent....

AHMEDABAD: The Sensex and Nifty lost significant 200 DMA (Daily Moving Average) support today on reports of crude oil surpassing સપાટી 100 in global markets following the outbreak of war between Russia and Ukraine. The Sensex and Nifty fell three per cent in early trade today after the Indian stock market started trading with a gap on the back of adverse reports. According to analysts, if the Sensex loses its support level of 2000, further erosion will be seen. The technical Nifty has slipped below its 200 DMA. Which could lead to further weakness towards 15,000. While 1800 is the intermediate support level. A bounceback can be expected from the 15000 level, but the Nifty will only move forward if it manages to cross the 1500 level. If the Nifty breaks the 12000 level, the worst case scenario could be 12000. The Bank Nifty has also slipped below its 200 level where 20 is the next important support level. While 5,000 is the next major support. You have to cross the level of 200 to ...

MUMBAI: Russia's attack on Ukraine has raised concerns that inflation could skyrocket, prompting the US Federal Reserve to raise interest rates by 0.50 per cent in its March monetary policy. The rapid recovery in the economy, rising demand and the rise in crude oil have led to worries about rising inflation. Notably, inflation in the United States has reached a post-150 year high. In addition to the Russia-Ukraine conflict, global stock markets have been on a sell-off for the past several months, following the possibility of an aggressive Fed hike by the US Fed. Foreign investors have been fearful of rising interest rates in the Indian stock market for the past five months. The CME's Kheiguchabar tool shows that traders now see the US Central Bank raising interest rates by 20 basis points to only 4.5 per cent, as against the 5 per cent a week ago. Similarly, traders now firmly believe that the US Fed will raise interest rates by 3 basis points. Global investment banks, suc...

Record erosion of Rs 12.5 lakh crore in investors' assets in one day (Gujarat News Correspondent) MUMBAI: The world watched as Russia launched a one-sided invasion of Ukraine, launching airstrikes on several Ukrainian cities and military bases, and NATO urged all nations to be ready to defend themselves after the United States threatened NATO countries not to join them. The Indian stock market today witnessed a historic upheaval with global stock markets amid a clear threat of a sharp rise in inflation with the outbreak of crude oil. The Sensex today closed at a record low of 17.8, down 4.31 points and the Nifty spot at 216.50 points, the fourth-ever record-breaking 206.12 points amid a global slump in stocks. Crude oil, gold and silver prices rose sharply on the global front, with stock markets crashing. International crude oil prices rose sharply today, hitting બ્રે 6.91 a barrel for Brent to close at ૫ 103.05 and ના 4.5 a barrel for Nymex crude, close to ૭૩ 4.5. The US dollar ...

(Gujarat News Correspondent) MUMBAI: Amid a flurry of war between Ukraine and Russia over the past week, the possibility of a world war has been looming, with Russia yesterday recognizing the two regions of eastern Ukraine, Luhansk and Donetsk, as independent states. Amid reports that nothing special will be done, the Indian stocks witnessed a recovery of short covering after an initial crash in global markets today. International crude oil prices also rose sharply, hitting ન્ટ 4.50 on Brent, jumping ૨૮ 4.5 in the evening to ૬૭ 2.3 and ના 2.3 on Nymex crude, to close at ૪ 4.31. The Sensex, which had earlier lost 18.5 points to a low of 4.5 on the back of global markets, fell short by 3.61 points to close at 200.5. While the Nifty spot initially fell by 4.5 points to 17.30, it finally fell by 114.5 points to close at 1,304.50. The US dollar had gained 3 paise to Rs 4.5 against the rupee. Undertone downturn despite short covering Despite the short covering, the undertone is still unde...

MUMBAI: Emerging market currencies could come under heavy depreciation pressure if the US tightens its monetary policy at a rapid pace, according to a report by Fitch Ratings. Exchange rate pressures will force emerging markets to make their monetary policy decisions. Interest rates will also rise on loans raised in dollar terms by emerging markets. Even before the US Federal Reserve raises its interest rates, some countries, including Chile, Brazil, and Russia, have raised interest rates to reduce possible capital outflows from their countries. These earlier emerging markets lag far behind the US in raising interest rates. Inflation in the US is currently at a 40-year high, with interest rates relatively low. Although some emerging markets have raised interest rates, we expect exchange rates in emerging markets to come under broader pressure as monetary policy tightens in the United States, the agency said in a report.

(By commerce representative) MUMBAI: Precious metals, including gold and silver, have been rocked in the crisis-ridden world market after Russia declared the two regions of Ukraine as independent nations. In the global market, gold crossed the 1,200 an ounce level at one point and silver also rose. However, gold and silver retreated late in the evening following indications from NATO nations that they would rather impose economic sanctions than just wage war against Russia. The back of the world market also saw huge fluctuations in gold and silver. In the Mumbai market, silver had gained more than Rs 200. The rupee continued its five-day rally and weakened against the dollar. Crude oil prices were in favor of reform. In the domestic market, the gold price in the Mumbai market, which is 8.50 per gram, excluding GST, opened with a gap this morning as compared to yesterday's closure. In the morning, it opened at Rs 205 and finally closed at Rs 30,151. Gold prices closed at Rs 305, ...

BEIJING: China's Alibaba Group and its owner, Jack Ma, have come under fire again. The Chinese government has asked public sector banks and companies for information on investments and exposures in Ant Group. Sources familiar with the developments said that various regulatory bodies, including the investigating NGOs, had recently asked the agencies under their supervision to scrutinize all the exposures of Ant Group and its subsidiaries and its shareholders till January. The probe is believed to be the most comprehensive and in-depth investigation into the Ant Group case. It is unknown at this time what he will do after leaving the post. The National Audit Office is leading the investigation. The Chinese government has launched an investigation a year after Ant Group's IPO was not approved. Notably, the Chinese government has been adopting strict rules against technology companies, startups for the past several months.

MUMBAI: Former CEO of the country's largest stock exchange, the National Stock Exchange, Chitra Ramakrishna, has for the first time issued a statement on the exchange of confidential information about the exchange with a mysterious yogi. The government is investigating whether market regulator SEBI has taken adequate action on corporate governance violations in the NSE, Finance Minister Nirmala Sitaram said. The Finance Minister's statement is significant as it is the first official comment from the central government since the NSE scam came to light. He said the NSE scam was an example of "completely opaque, discretionary decision-making, out of the realm of law and governance". The government will not tolerate or tolerate anyone's 'assumptions' about transparency and credibility in the exchange. The Chitra Ramakrishna case should not hurt the NSE and create illusions in the minds of investors. Credibility and confidence in the money market is the key...

New Delhi: In the first six months of the current financial year, the growth in exports from SEZs has been slower than the growth in exports across the country. According to government data, India exported ૮ 215.7 billion worth of goods and services during April-November, an increase of about 3 per cent over the same period last year. During the period, exports from SEZs increased by 21 per cent to ૯૫ 2.7 billion. Data on outbound shipments since the beginning of the financial year show that the effects of the first phase of the epidemic have ended and demand in overseas markets has picked up as economies have opened. Looking at the details of SEZ exports this year, the share of software and services exports was the highest at 9 per cent. This is followed by the export of commercial goods. Including product. Exports of software and services grew by 12 per cent to 21.2 billion, while exports of commercial goods rose by 9 per cent to ૫ 21.71 billion. It shows signs of recovery in the ...

MUMBAI: Despite the government's announcement of higher taxes on investments in cryptocurrencies in the 206-2 budget, a survey has found that 9 per cent of the country's investors are willing to invest more in the cryptocurrency market. Investors are investing more and more in the crypto market in the hope of getting more returns in less time. Cryptocurrency is the most volatile investment tool in the current asset class. This is the reason why experts advise to adopt Systematic Investment Plan (SIP) route for investing in crypto. Some exchanges such as Bitbins, Unocoin, Wald, Jebbe and Giotts allow investors to invest in crypto through SIPs. Investing piecemeal can save investors from the huge losses caused by cryptocurrencies. The shocking figure of the survey is that investors from 6 centers in small towns and rural areas participated in the study. Out of this, 7.5 per cent investors were from tier-3 cities like Balasore, Medinipur, Anglu, Ballia, Deoria, Sikar, Nadia, Si...

MUMBAI: The Kremlin's assertion that a meeting between the US and Russia on the Ukraine issue is setting the stage for a meeting, while the Kremlin's assertion that no concrete plan has been finalized yet, has finally hit gold and silver prices. Gold in the world market returned to the 1,200 level on Monday morning after the US President Joe Biden and Russian President Vladimir Putin reportedly discussed the Ukraine issue. Crude oil prices also remained firm. Heavy fire-like conditions continued on the first day of the week. In the domestic Mumbai market, the price of gold, excluding GST at 9.50 per 10 grams, opened at 8 am and finally closed at 2008 compared to Friday's close. Prices were quoted three per cent higher with GST. Gold opened at Rs 2.50 and closed at Rs 5. Silver also opened at Rs 61 per kg, excluding GST, and closed at Rs 71. Prices were quoted three per cent higher with GST. In the Ahmedabad market, gold was priced at Rs 21,600 per ten grams and Rs 2.50...

(Gujarat News Correspondent) MUMBAI: Amid uncertain reports of a resurgence of tensions in the Ukraine-Russia war, Indian stock markets tumbled earlier today amid cautious easing in global stock markets. With the Sensex, Nifty-based market recovering sharply after the initial crash, funds, experts managed the index today and did not bring about a particularly large decline, with widespread offloading in small, mid-cap, cash stocks. At the close of trading, the Sensex was down 17.5 points at 9.5 points and the Nifty spot was down 4.5 points at 1,207.5. Nifty breaks intra-day 203 The Sensex opened at 31.8 against the previous close of 7.5 and offloading in stocks including banking and finance from the outset fell to a low of 9.5.05 points at a time. From the decline, the newcomers digested the decline and came up to 2121.1. Finally, offloading in leading stocks fell by 12.5 points to close at 7.5. The Nifty spot was down by 203.50 points at the beginning of the day and came down to 12...

- Consumption of production capacity also increased: Market activity is likely to increase in the pre-monsoon months The country's cement market has seen a surge in demand and demand. As the Corona infestation subsided and the reopening process began in various cities and states, activity in the construction and infrastructure sectors resumed, leading to indications of increased withdrawals in the cement and iron-steel market. Prices have also gone up. According to cement market experts, the country has seen an average increase of 3 to 4 per cent in January. Such price rise has been observed especially in the eastern and southern states of the country. In the year 2021, November was the month of slow demand in the cement market, but since then, demand and inquiries have been seen again since December. However, demand remained sluggish in the first half of December and has seen a slow recovery since then, market sources said. Cement market activity in South India was slow during t...

- Imports of refined edible oils from overseas increase in such a situation, a blow to domestic refineries The recent trend in the edible oil market in the country has seen a rapid reversal. The mantra of self-reliance is spreading in the country and as a result, the government has started efforts to increase the cultivation of oilseeds in the country and reduce the import of edible oils. Market players are now keeping a close eye on how far such efforts are heading. Meanwhile, prices of various edible oils have been rising in the country recently and the government is keeping an eye on it. The government is also concerned about this issue and has been seen issuing new fatwas on Wednesday to control price rise. Recently the government has raised the weapon of stock limitation. However, according to market insiders, in fact the prices of edible oils in the world market have risen significantly recently and the effect has been seen at home. Palm oil, soyoil oil, sunflower oil vs. domes...

- Why shipbuilding does not develop like shipping despite 200 kilometers of sea, 12 large and 3 medium ports - Three shipyards went bankrupt for Rs 20,000 crore due to lack of orders, huge expenses and long running business cycle! The shipbuilding business is currently under discussion. Rishi Agarwal, the promoter of ABG Shipyard, has been charged by the Central Bureau of Investigation (CBI) in the country's biggest bank scam. ABG's business did not thrive even after the company stopped repaying loans and the banks helped with the new package. The company is facing bankruptcy proceedings, no one is willing to bid to buy the property, so what is left is being auctioned off. Following the release of so many horses, a case has now been registered on the basis of an 18-month-old complaint lodged by the State Bank of India. Anil Ambani bought a company called Pipavav Ship Building and now a company called Reliance Naval Defense is also facing bankruptcy proceedings. Earlier, the ...

According to figures released by the Ministry of Commerce and Industry, growth in India's exports slowed in January after a record surge in exports of goods in December. However, despite an increase in Omicron cases worldwide, it has been above ૩ 50 billion for the 11th consecutive month. Merchandise exports in January grew by 6.5 per cent to 2.7 billion, compared to the same period last year, as global demand for Indian products continued to grow. Exports of engineering goods, petroleum products, gems and jewelery, organic and inorganic chemicals, medicines and pharmaceuticals remained strong. However, exports declined by 7.5 per cent over the previous month. In the first 10 months of the current financial year, India's merchandise exports stood at 2.7 billion, up 3 per cent from the same period last year. The government has set an export target of 200 billion for the fiscal year 205. Imports are also steadily rising. The country imported 21.7 billion, an increase of 2.4 per...