Posts in category Economic Times
Gold shatters record roof, heads for third straight weekly gain on buying momentum (05-04-2024)
Spot gold gained 1.3% to $2,320.04 per ounce, as of 10:57 a.m. EDT, after hitting a record high of $2,324.79 earlier in the session. Bullion has risen 3.8% so far this week and is headed for a third straight weekly gain. U.S. gold futures edged 1.4% higher to $2,339.70.
Titan Q4 Update: Revenue grows 17% YoY; 36 stores added (05-04-2024)
Watches & Wearables domestic business surged 7% year-on-year, comprising 7% revenue growth in analogue watches and 2% in wearables.
Oil heads for second weekly gain on tighter supply outlook (05-04-2024)
Oil prices extended gains on Friday and were on course for a second weekly gain, supported by geopolitical tensions in the Middle East, concerns over tightening supply and expectations about demand growth as economies improve.
Forex reserves accumulation to continue despite record kitty (05-04-2024)
Central bank continues to build reserves to counter volatility, with India's reserves at $645.6 billion. Governor Das emphasizes the need to create a buffer for future risks. Governor Das, in his monetary policy statement, has said that the external sector is resilient and the latest external vulnerability is eminently manageable. The country’s forex reserves are at 99.6% of outstanding external debt at end-December 2023.
Dollar jumps as soaring US job growth beats expectations (05-04-2024)
The dollar strengthened on Friday after data showed U.S. employers hired far more workers than expected in March, potentially delaying anticipated interest rate cuts from the Federal Reserve this year.
Nestle India approves royalty fee of up to 5.25% of net sales to parent company (05-04-2024)
Royalty payments have been a contentious issue in India Inc's debating circles ever since another FMCG giant HUL decided to increase its fee to parent Unilever.
RBI penalises IDFC First Bank, LIC Housing Finance (05-04-2024)
The Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violating certain norms. IDFC First Bank's penalty is for non-compliance with directions on 'Loans and Advances - Statutory and Other Restrictions', while LIC Housing Finance's penalty is for non-compliance with provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021'. Additionally, the RBI has cancelled the registration certificates of four NBFCs and five NBFCs have surrendered their certificates.
MSCI May rejig to trigger $3.2 billion inflows into 17 stocks (05-04-2024)
MSCI will announce the changes in constituents of the MSCI global standard indices on May 14, while the changes will take place on May 31.
US stocks open higher after non-farm payrolls data (05-04-2024)
The Dow Jones Industrial Average rose 68.0 points, or 0.18%, at the open to 38664.98.