On Thursday, a protest was staged in the Sri Lankan capital against the proposed windmill project in the northeastern district of Mannar, which is being developed by India’s Adani business. The Gotagogama (President Gotabaya, go home) demonstrators congregated in the bustling Bambalapitiya district south of Colombo. They carried signs protesting the lack of transparency in […]
On Monday, oil prices fell more than $2 as a flare-up in COVID-19 cases in Beijing dampened prospects for a quick increase in China’s fuel demand, while concerns about global inflation and economic development weighed on the market. Brent oil futures were down $2.06, or 1.7 percent, to $119.95 a barrel at 0033 GMT, while […]
The rupee fell to a new all-time low against the US dollar on Wednesday, ending at 77.74, slightly lower than its previous close of 77.71. Despite continued foreign capital outflows and higher global crude oil prices, the local currency traded in a limited range. The previous low was set on May 19, when it closed […]
The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) unanimously decided on Wednesday to raise the benchmark policy rate by 50 basis points, bringing the repo rate to 4.90 percent, following a surprise rate hike in an off-cycle meeting in May. As a result, the standing deposit facility (SDF) rate has […]
The dollar extended its overnight run into Asian trading hours on Tuesday, reaching new two-decade highs against the yen as concerns over continuing inflation drove up US bond rates. The dollar gained ground against the euro, pound, and Swiss franc. It also rose against the Australian dollar, with the market divided on whether the country’s […]
External Affairs Minister S Jaishankar met with members of the Indian community here on Sunday and briefed them on recent events in India as well as the health of the bilateral relationship. Jaishankar is in town on the final phase of a two-nation journey to Slovakia and the Czech Republic, where he hopes to bolster […]
On Thursday, Prime Minister Narendra Modi will lay the foundation stones for the reconstruction of five Tamil Nadu railway stations: Chennai Egmore, Rameswaram, Madurai, Katpadi, and Kanyakumari. The railway station redevelopment project will cost around Rs 1,800 crore to complete. The project was undertaken to improve the passengers’ convenience and comfort by providing modern amenities. […]
Prime Minister Narendra Modi, Japanese Prime Minister Fumio Kishida, US President Joe Biden, and Australian Prime Minister Anthony Albanese issued a joint statement on May 24 stating that the Quad will seek to extend more than $50 billion in infrastructure assistance and investment to the Indo-Pacific region over the next five years. The leaders are […]
The price of gold jumped by Rs 100 per 10 gramme on Tuesday, with 24-carat gold retailing at Rs 51,430. On Tuesday, the price of silver climbed by Rs 700 per kilogramme, to Rs 62,100 per kg. The price of 10 grammes of 22-carat gold increased by Rs 100 from the previous day’s rate, with […]
Steel company shares were hammered on Monday, plunging up to 14% on the BSE, after the government imposed export tariffs on 11 iron and steel intermediates and essential steel products. On practically all major steel products, the government imposed a 15% export levy (including stainless steel). However, to lower the overall cost of steel production […]
