Tag: Economy

  • 18 Sep

    Gold ETFs Attract Highest Inflow in 16 Months in August

    Gold ETFs attracted Rs 1,028 crore in August 2023, the highest inflow in 16 months. This is despite continued hikes in interest rates in the US, which have led to a slowing down in growth rate there. The factors driving inflows into gold ETFs include its role as a safe haven asset, hedge against inflation, and diversification tool. The outlook for gold ETFs is positive in the near term, given the current macroeconomic environment. Investors who are looking to add a safe haven asset to their portfolio and/or hedge against inflation may consider investing in gold ETFs. However, it is important to note that gold is a volatile asset and investors should carefully consider their risk tolerance and investment objectives before investing.

  • 16 Sep

    Pakistan: Petrol, HSD Prices Reach Historic Highs

    Pakistan's caretaker government has hiked petrol and diesel prices to over Rs 330 per litre, the highest ever in the country's history. The move comes as the country struggles with double-digit inflation and is under pressure from the IMF to raise taxes and reduce subsidies. The hike will put an unbearable burden on the masses and make it difficult for many people to make ends meet.

  • 16 Sep

    Former RBI Governor C Rangarajan Says India Needs to Grow Fast to Increase Per Capita Income

    Former RBI Governor C Rangarajan says India needs to grow fast to increase per capita income and become a developed economy. He says India needs to achieve 7% growth continuously over the next two decades, absorb new technologies, develop a skilled workforce, and create jobs.

  • 15 Sep

    Consumer durables output contracts in India, but hopes are high for festive season

    The output of consumer durable goods in India contracted in July, even as industrial growth hit a five-month high. However, hopes are high that the festive season will boost demand.

  • 14 Sep

    Crude Oil Prices to Fall Back to $75 per Barrel

    Crude oil prices have surged to above $90 per barrel due to Saudi Arabia's production cuts. However, the high prices are expected to be temporary as other producers, such as Russia and Iran, are likely to increase their output. Prices are expected to fall back to $75 per barrel by next year.

  • 14 Sep

    Red Chilli Prices to Rise on Festival Demand, Weak Rains

    The prices of red chilli, India's most exported single spice, are expected to rise again due to higher festive demand and weak rains in the coming weeks. The prices have fallen from ₹250 per kg to around ₹230 per kg in recent weeks due to subdued export demand and accumulation of sufficient inventory. However, the prices are expected to rise again in the coming weeks due to the Dussehra festival season and the late setting in of the southwest monsoon.

  • 12 Sep

    India’s Industrial Output Grows 5.7% in July, Highest in Five Months

    the industrial output growth in July is a positive sign, but economists will be closely monitoring the manufacturing sector in the coming months to get a better sense of the overall health of the Indian economy.

  • 12 Sep

    Indian shrimp production to decline by 15-20% in FY23

    Indian shrimp production is set to decline by 15-20% in the current fiscal year due to a sharp fall in global prices and sluggish exports. The decline in production is being attributed to a number of factors, including a glut in the global shrimp market, economic problems in major importing countries, and increased competition from other shrimp producers. The aquaculture farmers are stocking less in their farms due to the drop in prices, and the seafood export target of $9.1 billion for the current fiscal year appears far-fetched. However, the passing of the Coastal Aquaculture Authority (Amendment) Bill 2023 has come as a huge boost to the seafood sector, and the industry hopes that the passage of the bill will help to boost the growth of the seafood sector in India.

  • 11 Sep

    India and Saudi Arabia Discuss Settling Trade in Local Currencies

    India and Saudi Arabia have begun discussions on settling their trade in local currencies. This would help to reduce the volatility of exchange rates and make it easier for businesses to trade with each other. The two countries have also agreed to expedite the negotiations on the India-Gulf Cooperation Council Free Trade Agreement and strengthen co-operation in the fintech space.

  • 11 Sep

    ECB to Decide Whether to Hike Rates Amid Mounting Recession Risks

    The European Central Bank is facing a tough decision on whether to hike interest rates amid mounting recession risks. The ECB has raised rates by 0.75 percentage points since July last year, but the war in Ukraine and rising energy prices are putting renewed upward pressure on inflation. The ECB is likely to pause its rate-hiking cycle at this week's meeting, but it will keep the door open for further tightening in the future if inflation continues to rise.