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Bitcoin Sees Major Drop, Settles Around USD 90,000

Bitcoin Sees Major Drop, Settles Around USD 90,000

18 Nov 2024 08:29 AM IST

Bitcoin saw its largest two-day decline since the U.S. presidential election, dropping nearly 3% over the weekend before recovering slightly. By Monday morning in Singapore, it was trading at $90,100. This retreat follows caution in global markets as traders assess the impact of President-elect Donald Trump’s policy agenda on digital
Tomato Prices Drop Over 22% in a Month Due to Improved Supply

Tomato Prices Drop Over 22% in a Month Due to Improved Supply

17 Nov 2024 16:56 PM IST

Tomato retail prices in India have declined by more than 22% in the past month, thanks to an increase in supply, according to a statement released by the Department of Consumer Affairs on Sunday. The all-India average retail price of tomatoes as of November 14, 2024, stood at ₹52.35 per
India Poised to Become Major Hub for High-Street Fashion Manufacturing: McKinsey Report

India Poised to Become Major Hub for High-Street Fashion Manufacturing: McKinsey Report

17 Nov 2024 14:50 PM IST

Global consulting firm McKinsey & Company has identified India as a key focus area for high-street fashion brands, as manufacturers shift their attention to Asian growth markets like India due to challenges in China. According to McKinsey’s latest report, the economic slowdown in China, evolving consumer preferences, and the revival
India’s Forex Reserves Drop for Sixth Straight Week, Decline by $6.4 Billion

India’s Forex Reserves Drop for Sixth Straight Week, Decline by $6.4 Billion

17 Nov 2024 14:45 PM IST

India’s foreign exchange (forex) reserves fell for the sixth consecutive week, reaching $675.65 billion as of November 8, according to data released by the Reserve Bank of India (RBI) on November 15. The reserves declined by $6.477 billion during the reporting week, marking a significant drop from the record high
India’s Textile Exports Surge in October; Apparel Exports Jump Over 35%

India’s Textile Exports Surge in October; Apparel Exports Jump Over 35%

17 Nov 2024 14:40 PM IST

India’s textile exports recorded an 11.56% increase in October, reaching $1,833.95 million compared to the same month last year. This growth highlights the sector’s continued strength despite global economic uncertainties, according to data released by the Confederation of Indian Textile Industry (CITI). Apparel Exports Register Strong 35% Growth In a
India Could Save $10 Billion Annually by Expanding Insurance Coverage: McKinsey Report

India Could Save $10 Billion Annually by Expanding Insurance Coverage: McKinsey Report

17 Nov 2024 14:35 PM IST

According to a report by global consulting firm McKinsey, expanding insurance coverage to currently uninsured people and assets could save India approximately $10 billion annually. The report suggests that redirecting these saved funds could help the Indian government stimulate economic growth and reduce financial strain. The McKinsey report highlights that
Gold Prices In India Drop Below UAE, Qatar, Oman, And Singapore: What’s Driving The Shift?

Gold Prices In India Drop Below UAE, Qatar, Oman, And Singapore: What’s Driving The Shift?

16 Nov 2024 21:09 PM IST

Gold prices in India have taken a surprising turn, now lower than those in gold hubs like the UAE, Qatar, Oman, and Singapore. As of November 16, 24K gold in India is priced at ₹75,650 per 10 grams, a ₹110 dip from the previous day. The 22K variant fell to
Moody’s Projects 7.2% Growth for India in 2024, Calls Economy a ‘Sweet Spot’

Moody’s Projects 7.2% Growth for India in 2024, Calls Economy a ‘Sweet Spot’

16 Nov 2024 12:13 PM IST

The Indian economy is positioned in a “sweet spot” with a combination of robust growth and moderating inflation, according to Moody’s Ratings. The agency has projected a 7.2% GDP growth for the 2024 calendar year, followed by 6.6% in 2025 and 6.5% in 2026. In its Global Macro Outlook 2025-26,
Geopolitical Crisis Identified as Major Threat to Global Credit Growth: Moody’s Report

Geopolitical Crisis Identified as Major Threat to Global Credit Growth: Moody’s Report

15 Nov 2024 15:43 PM IST

A recent report from Moody’s has flagged growing geopolitical tensions as the primary threat to global credit stability. The report underscores the escalating friction between the United States and China, citing this economic and political conflict as a key factor affecting global credit conditions. Trump’s Proposed Tariffs Could Further Disrupt
Piyush Goyal Calls Link Between Food Inflation and Interest Rates “Flawed”; RBI Governor Responds

Piyush Goyal Calls Link Between Food Inflation and Interest Rates “Flawed”; RBI Governor Responds

15 Nov 2024 12:21 PM IST

Union Minister Piyush Goyal has criticized the idea that food inflation should influence the Reserve Bank of India’s (RBI) interest rate decisions, describing it as an “absolutely flawed theory.” Speaking at a CNBC-TV18 event in Mumbai, Goyal argued that food inflation is primarily driven by supply and demand factors, not
Reliance and Disney Finalize $8.5B Merger of Indian Assets; Future of ‘JioHotstar’ Unclear

Reliance and Disney Finalize $8.5B Merger of Indian Assets; Future of ‘JioHotstar’ Unclear

15 Nov 2024 10:12 AM IST

The $8.5 billion merger between Reliance Industries and Disney’s Indian media assets was completed on Thursday, appointing Nita Ambani as Chairperson of the new joint venture. In a joint announcement, the companies confirmed that their Indian media assets are now organized into three divisions—Entertainment, Digital, and Sports—each led by its
Stock Markets Closed Today for Guru Nanak Jayanti Holiday

Stock Markets Closed Today for Guru Nanak Jayanti Holiday

15 Nov 2024 09:25 AM IST

In observance of Guru Nanak Jayanti, the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are closed today. This closure means no trading will occur in the Equity, Equity Derivative, Securities Lending and Borrowing (SLB), or Currency Derivatives segments. However, in the Commodity Derivatives and Electronic Gold Receipts (EGR)
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