Business

February 7, 2025 7:29 PM February 7, 2025 7:29 PM

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Oil Prices Rise on Iran Sanctions

Oil prices advanced today following the imposition of new sanctions on Iran's crude exports. However, they were on track for a third straight week of decline, impacted by US President Donald Trump's renewed trade conflict with China and potential tariffs on other nations. Brent Crude was trading 0.6...

February 7, 2025 6:40 PM February 7, 2025 6:40 PM

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Asian & European Markets Trade Mixed

Major Asian indices displayed a mixed trend today. Hong Kong's Hang Seng surged over 1.1 percent, China's Shanghai Composite index rose one percent, and Singapore's Straits Times index gained 0.8 percent. Meanwhile, Japan's Nikkei fell over 0.7 percent, and South Korea's Kospi lost almost 0.6 percen...

February 7, 2025 7:50 PM February 7, 2025 7:50 PM

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Sensex-Nifty Extend Losing Streak for 3rd Session

Benchmark domestic equity indices today ended with modest losses, extending their losing streak to the third consecutive session. The broader market indices at BSE displayed mixed trends.   The 30-share index at the Bombay Stock Exchange, Sensex, dipped 198 points, or 0.25 percent, to close at 77,86...

February 7, 2025 2:09 PM February 7, 2025 2:09 PM

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RBI reduces interest rates for first time in nearly 5 years

Almost after 5 years, the Reserve Bank of India (RBI) has reduced the policy repo rate by 25 basis points, from 6.50 per cent to 6.25 per cent. Governor Sanjay Malhotra made the announcement today in Mumbai, following a three-day meeting of the MPC. As a result, the standing deposit facility (SDF) r...

February 6, 2025 6:09 PM February 6, 2025 6:09 PM

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Oil Prices Rise as Brent Hits $75, WTI Nears $72

Oil prices rose today. Brent Crude was trading 0.7 percent up at 75 dollars and 13 cents per barrel, and WTI Crude gained almost 0.8 percent to trade at around 71 dollars and 59 cents per barrel when reports last came in. Meanwhile, US commercial crude oil inventories increased by 8.7 million barrel...

February 6, 2025 5:57 PM February 6, 2025 5:57 PM

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Asian-European Major Indices End in positive territory

Major Asian indices ended in positive territory today. Hong Kong's Hang Seng surged over 1.4 percent, China's Shanghai Composite index rose over 1.2 percent, South Korea's Kospi increased over one percent, Japan's Nikkei added 0.6 percent, and Singapore's Straits Times index gained almost 0.4 percen...

February 6, 2025 5:26 PM February 6, 2025 5:26 PM

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Rupee Hits Record Low of 87.57 Against US Dollar

In the Forex market, the rupee today depreciated by 11 paise to settle at a record low of 87 rupees and 57 paise against the US dollar as rising odds of a rate cut by the Reserve Bank of India in its monetary policy meeting tomorrow pressurised the rupee. The dollar index, which indicates the US dol...

February 6, 2025 1:49 PM February 6, 2025 1:49 PM

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Govt takes considerable measures to combat rising digital payment frauds

The government has said that amid the rising number of digital payment frauds, considerable measures have been taken to combat this form of cybercrime. In a written reply in the Rajya Sabha, the Minister of State in the Ministry of Finance, Pankaj Chaudhary, said that the Reserve Bank of India (RBI)...

February 5, 2025 5:57 PM February 5, 2025 5:57 PM

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Major Asian markets show mixed trends

Major Asian indices displayed mixed trends today. Hong Kong's Hang Seng shed over 0.9 percent, China's Shanghai Composite index declined over 0.6 percent, and Singapore's Straits Times index fell 0.2 percent. Meanwhile, South Korea Kospi rose 1.1 percent, while Japan's Nikkei ended marginally down b...