In a significant shift in the global energy market, oil prices have dropped below $70 per barrel, raising concerns over slower demand growth, especially in China, the world’s largest importer of crude oil. As of Friday, the price of Brent crude futures fell by 39 cents, settling at $68.99 per barrel. Similarly, US West Texas …
India has solidified its position as the largest recipient of remittances globally in 2024, with an estimated inflow of $129 billion, surpassing nations like Mexico, China, the Philippines, and Pakistan. This milestone, as reported by World Bank economists, underscores the country’s strong economic ties with its diaspora and the critical role of remittances in the …
Heavy industries play a crucial role in the economic development of a nation, and India is no exception. These industries are not only vital for generating employment but also serve as the backbone for the country’s industrial and infrastructural growth. They encompass a wide range of sectors including automotive manufacturing, energy, aerospace, defence, and more. …
India faces a significant shortfall in certain types of coal, particularly coking coal and high-grade thermal coal in spite of owning the 5-largest coal reserves globally. These specific coal types are not sufficiently available from domestic sources, creating a gap in supply. Decline in Coal Imports (FY 2024-25) During the April-October period of FY 2024-25, …
The Securities and Exchange Board of India (SEBI) has launched a new initiative, the “Past Risk and Return Verification Agency” (PaRRVA), to combat misleading claims about investment returns. This agency will verify the risk-return metrics of services offered by investment advisors, research analysts, algorithmic trading platforms, and similar entities. Mandatory Verification for High Return Claims …
On December 19, 2024, the Government of India and the Asian Development Bank (ADB) signed a $42 million loan agreement aimed at providing coastal and riverbank protection in Maharashtra. This initiative seeks to enhance the resilience of local communities and ecosystems in the state. Key Signatories to the Loan Agreement The loan agreement for the …
The central government has launched the second phase of its flagship housing initiative, Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0), to provide affordable housing for one crore economically disadvantaged families and middle-income groups in urban areas. Approved by the Union Cabinet on August 9, 2024, the scheme aims to ensure all-weather pucca houses …
Oil prices dropped as the Federal Reserve’s outlook for fewer interest-rate cuts in 2025 led to a stronger dollar. Brent crude fell to around $73 per barrel, and West Texas Intermediate (WTI) traded at $70. Although the Fed lowered borrowing costs as expected, it reduced the number of rate cuts expected next year, boosting the …
On December 18, the Indian rupee dropped to an all-time low of 84.9550 against the U.S. dollar before closing at 84.9525, down 0.07%. The decline was driven by strong dollar demand from importers, expected outflows from local equities, and speculative dollar bids. Weak Regional Currencies Add Pressure The rupee’s fall mirrored the broader weakness in …
India’s merchandise trade deficit reached a record $37.8 billion in November, fueled by rising gold and petroleum imports, while falling petroleum export prices impacted export growth. What Led to the Surge in India’s Trade Deficit? India’s merchandise trade deficit has surged to an all-time high of $37.8 billion in November 2024. The sharp increase is …
