Business

India’s retail inflation eases to 4-month low


New Delhi: India’s retail inflation slowed to a four-month low of 5.09 per cent in February bringing some relief to household budgets, official figures released showed. There was a sharp decline in cooking oil prices during February which came down by as much as 11.67 per cent. The price rise in spices slowed to 13.51...

US inflation up 3.2% in February, no change in Fed’s stance


Washington: The US consumer price index increased 3.2 percent in February from a year ago. The consumer price index was in line with expectations of 3.1 percent. The consumer price index increased 0.4 percent from the previous month, reported the Labor Department. Core CPI, which excludes food and energy prices, increased 0.4 percent from the...

Jeff Bezos overtakes Elon Musk as world’s richest person


New Delhi: Amazon founder Jeff Bezos has overtaken Tesla and SpaceX CEO, Elon Musk, as the richest person in the world, as per the Bloomberg Billionaires Index. As per the latest figures, the Amazon founder’s net worth is $200 billion, while Musk’s net worth is at $198 billion. Bernard Arnault is ranked third with a net...

Gold scales record high on possible US interest rate cut


New Delhi: Gold scaled a record high moving further above $2,100 in a rally sparked by growing bets for a US interest rate cut in June and on safe-haven demand due to the conflict in the Middle East, says Manav Modi, Analyst, Commodity and Currency, Motilal Oswal Financial Services. A wider robust fundamental backdrop added...

Sensex scales 74,000 peak for first time


Mumbai: The Sensex jumped 409 points to close above the 74,000 mark for the first time. The Sensex settled at 74,085.99, up 409 points, or 0.55 per cent, while the Nifty 50 closed at 22,474.05, up 118 points, or 0.53 per cent, both settling at their fresh closing peaks. This was achieved by Sensex in...

Swedish defense major Saab to establish maiden manufacturing plant at Reliance MET City

Post Date: March 4, 2024

A significant milestone was achieved by MET City, a wholly-owned subsidiary of Reliance Industries Limited, as it becomes home to Saab´s first manufacturing facility of the famous Carl-Gustaf Weapon System in India. It is a significant development for India to become Aatmanirbhar in defense manufacturing as this will be India’s first 100% FDI in...

Global economy remains resilient: Janet Yellen


Mumbai: Strong U.S. economic growth has been a "key driver" of better than expected global growth, U.S. Treasury Secretary Janet Yellen said ahead of G20 finance officials’ meeting in Sao Paulo, Brazil. Yellen said the International Monetary Fund and other forecasters had projected a broad-based slowdown in the global economy in 2023 that did not...

Oil drops as sticky US inflation heightens demand concerns


Singapore: Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the U.S., the world’s biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth. U.S. producer prices increased more than expected in January amid strong gains in the costs...

India’s FY2024 Q3 GDP growth at 6%: ICRA


Chennai: Credit rating agency ICRA said India’s Gross Domestic Product (GDP) would grow at 6 percent in Q3 FY2024 from 7.6 percent in Q2 FY2024. Further, the Gross Value Added (GVA) growth is estimated to ease to 6 percent in Q3 FY2024 from 7.4 percent in Q2 FY2024, driven by the industrial and agriculture sectors,...