India’s manufacturing Purchasing Managers’ Index (PMI) fell to 53.9 in June, the lowest level since September 2021, and below 54.6 in May. The PMI index was hurt by a slowdown in new orders and employment, while business confidence fell to a 27-month low. However, the PMI remained above 50, indicating an expansion in India’s manufacturing […]
India’s manufacturing PMI is the lowest in almost a year in June Read More »
According to the National Bureau of Statistics of India, the consumer price index (CPI) rose 7.04% on an annual basis in May. It slowed slightly after reaching an eight-year high of 7.79% in April, due to a slowdown in food prices. The figure remains above the Reserve Bank of India’s (RBI) inflation target of 2-6%
India’s Official Inflation Rate Remains Above 7% Read More »
The Reserve Bank of India (RBI) raised its repo rate by 0.50% to 4.90% today, in line with market expectations. And it raised interest rates at the meeting for two months in a row. The goal is to control inflation that has continued to rise. The Reserve Bank of India said “Inflation in India has
Bank of India Raised Interest Rates by 0.5% as Inflation Continues to Rise Read More »
The Indian government introduced measures to limit sugar exports on Wednesday (June 1) to stabilize domestic sugar prices. From June 1 to October 31, Indian exporters must obtain a government license before they can export sugar abroad. The Indian government has implemented sugar export restrictions for the first time in six years to combat high
India Begins Limiting Sugar Exports in Hopes of Tackling Rising Prices Read More »
Indian authorities reported yesterday (May 31) that India’s gross domestic product (GDP) grew 4.1% in the first quarter of this year compared to the same period last year. Growth was the lowest in a year, following 5.4% in the fourth quarter of last year and 8.4% in the third quarter. The report states that Indian
India’s GDP Growth in Q1/22 is the Slowest in a Year Read More »
As reported by the World Gold Council, gold demand has started the year well, with a 34% year-on-year increase. This is mainly due to exchange-traded funds and gold’s status as a safe haven. Demand for gold bars and coins was 11% above the five-year average at 282t. In the jewelry sector, however, demand decreased by
China Lockdowns Depress Gold Jewelry Sales Read More »
The Indian local newspaper Financial Express reported that Indian imports from Russia have more than tripled since the beginning of the Ukraine crisis and now amount to $4.67 billion. India is caught between two fronts, on the one hand, Russian manufacturers have lowered prices, and on the other hand, there is intense pressure from the
India’s Imports from Russia Have More Than Tripled Read More »
The Reserve Bank of India (RBI) raised its repo rate by 0.40% to 4.40% at its meeting on Wednesday, saying the continued spike in inflation has put pressure on the country’s economy. The yield on India’s 10-year government bond rose to 7.41% shortly after the central bank’s interest rate announcement. Bank of India Governor Shaktikhanta
Bank of India Raises Interest Rates by 0.40% Read More »
Asia is in the fast lane when it comes to building nuclear power plants. On no other continent in the world are so many nuclear power plants currently being built as in Asia. China is the main place with 19 reactors under construction. After that comes India with 8 and Korea with 4 being built.
Asia Takes Big Step Toward Carbon-Free Energy with Nuclear Power Read More »
The Reserve Bank of India (RBI) kept the repo rate at 4% and the reverse repo rate, the central bank’s benchmark for borrowing from commercial banks, at 4% at its meeting today. The interest rate remained at a record low. RBI’s decision to keep interest rates in line with market expectations is aimed at supporting