India will not participate in the International Energy Agency’s (IEA) proposal to release strategic petroleum reserves to stabilise global oil markets, government sources said on Monday, even as crude prices surge amid the escalating Middle East conflict, reported PTI.The decision comes as G7 nations consider coordinated releases of emergency oil reserves to calm markets after […]
US stocks today: Dow slides over 700 points, S&P 500 drops 1.3% as oil briefly nears $120
US stock markets tumbled on Monday as a sharp spike in oil prices following the Middle East conflict rattled investors and raised fears about the resilience of the global economy.The S&P 500 fell 1.3%, coming off its worst week since October. The Dow Jones Industrial Average dropped 721 points, or 1.5%, to 9:35 a.m. Eastern […]
Can the Middle East war trigger a crisis like 2008? Nobel laureate Philippe Aghion weighs in
Nobel Laureate Philippe Aghion (Credit-University of Oxford) The ongoing conflict in the Middle East is unlikely to trigger a global economic collapse on the scale of the 2008 financial crisis, Nobel Prize-winning economist Philippe Aghion has said, even as he warned that a prolonged war and sharply rising oil prices could slow global growth, AFP […]
Outdated job rules on women could slow India’s growth as it ages
Mumbai: India must increase women’s labour force participation to sustain high growth over the next decade as labour availability could become a key constraint, according to a report by Axis Bank.According to the report `The Missing Half, India is likely to age much faster before it becomes wealthy because of a sharp decline in fertility […]
Office market: Lower rentals put Navi Mumbai on GCC radar, says CRE Matrix
Lower office rentals are helping Navi Mumbai emerge as a preferred destination for multinational companies and global capability centres (GCCs), with rents in the city about 21% below the average of major Tier-I markets, according to a report by real estate data analytics firm CRE Matrix.The report, ‘Navi Mumbai Rising: A Comprehensive Perspective on India’s […]
Rupee hits all-time low: Currency falls 53 paise to close at 92.35 against US dollar
The rupee slumped to a record closing low of 92.35 (provisional) against the US dollar on Monday, losing 53 paise during the session amid a sharp spike in global crude oil prices and a strengthening US currency as tensions escalated in the Middle East, reported new agency PTI.Forex traders said heavy foreign fund outflows and […]
Gold price today: How much gold costs in your city today? Check rates for Delhi, Mumbai & more
Gold futures tumbled on Monday, slipping Rs 1,052 to close at Rs 1,60,582 per 10 grams, as local spot demand weakened. On the Multi Commodity Exchange, April gold contracts fell 0.65% in a turnover of 1,729 lots, with analysts pointing to soft global cues as the key factor behind the decline. Meanwhile, silver futures advanced […]
‘Consumer always priority’: Jaishankar calls Iran crucial to India’s energy security as Middle East conflict intensifies
India is focused on securing its energy supplies and protecting its citizens, as the Middle East conflict continues to escalate. Speaking in the Rajya Sabha on Monday, external affairs minister S Jaishankar said that national interest, including energy security will always be top priority and that the government is committed to ensure “that it takes […]
Oil above $100 as Iran war disrupts supply: Will G7 tap emergency reserves?
As the Middle East war continues to cast a shadow over energy supplies, G-7 nations are considering to jointly release strategic oil reserves. According to a report by Financial Times, finance ministers of the Group of Seven are set to discuss a potential joint release of strategic emergency reserves, on Monday, in a bid to […]
District domestic product estimation to be better
NEW DELHI: India’s official statistical machinery is set to better its estimation of district domestic products (DDP), with the availability of more granular data in the new GDP series, statistics secretary Saurabh Garg told TOI.“We have given more focus on having more granular data in this series, so that state domestic products are captured much […]