NEW DELHI :Robust investment activity and strong private consumption demand will drive the Indian economy in FY25 amid sluggish global growth, the finance ministry on Friday said in its economic review for February. However, challenges such as the impact of the ongoing crisis in the Red Sea and rising crude oil prices loom over the …
New Delhi: The Red Sea crisis has become a major threat to global trade and its impact on trade volumes will become visible in FY25, according to a report released on Tuesday by the Global Trade Research Initiative (GTRI), an economic think tank. The crisis began when Houthi militants attacked civilian-operated cargo ships near the …
Canada’s Foreign Minister Melanie Joly on Sunday said China should play a role in keeping the Red Sea safe for commerce because Chinese ships are at risk there as well, and urged Beijing to stop helping Russia sidestep international sanctions. In an interview, Joly said she told China’s Foreign Minister Wang Yi in a bilateral …
iStock Synopsis Supply chain woes mount for traders as the Houthi attacks increase freight rates, insurance costs and travel time. 13 mins read, Last Updated: Feb 14, 2024, 01:01:00 PM IST As the spectre of Houthi attacks engulf the Red Sea region, its repercussions on global trade are tightening the choke on Indian exporters. Freight …
New Delhi: Government officials are working to assign internationally recognized identifiers—needed for all exports—for some uncommon and unique Indian rice varieties so that they do not inadvertently fall into the dragnet of a sweeping export ban. New Delhi: Government officials are working to assign internationally recognized identifiers—needed for all exports—for some uncommon and unique Indian …
Oil prices gained over two per cent on Thursday, February 8, as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in US fuel stocks. Diplomatic efforts continue, with a Hamas delegation arriving in Cairo on Thursday for ceasefire talks with mediators Egypt and Qatar. Brent crude futures …
Gold rate today: Despite commitments in the US Fed meeting to maintain a high-interest rate regime, gold price finished more than 0.75 percent higher in the week gone by. Gold future contract on the Multi Commodity Exchange (MCX) for February 2024 expiry ended at ₹63,200 per 10 gm level, clocking ₹1,250 per 10 gm weekly …
Rejecting the impact of the ongoing Red Sea attacks on India’s oil imports, Hindustan Petroleum Corporation Ltd (HPCL) chairman Pushp Kumar Joshi, said that Houthi militants’ attacks on ship vessels have not affected the crude oil flows to India. India is the world’s third-largest oil importer and remains heavily dependent on Russian supplies through the …
Oil prices rose for a second week in a row and settled at their highest in nearly two months on Friday, January 26, as positive US economic growth and signs of Chinese stimulus boosted global demand expectations, while Middle East supply concerns added support to price rise. Brent crude futures rose $1.12, or 1.4 per …