Oil prices fall on demand concerns after US stock build
Thu, Dec 21, 2023 8:51 AM

Oil prices fall on demand concerns after US stock build

Oil prices fell on Thursday, as concerns over low demand following a surprise U.S. crude inventory build outweighed jitters over global trade disruptions and geopolitical tensions in the Middle East. Brent crude futures fell 65 cents, or 0.8%, to $79.05 a barrel by 0120 GMT while U.S. West Texas Intermediate crude was at $73.67 a barrel, down 55 cents, or 0.7%.

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Buzzing Stocks to eye on 21 December 2023! 🎉
Thu, Dec 21, 2023 8:49 AM

Buzzing Stocks to eye on 21 December 2023! 🎉

đź“ŚMazagon Dock Shipbuilders has signed a contract worth Rs 1,600 crore. đź“ŚInox India is set to list its equity shares on the BSE and NSE. đź“ŚCochin Shipyard has signed a contract worth Rs 488.25 crore with the Ministry of Defence (MoD). đź“ŚBlackstone sold its entire 23.5% stake in Embassy Office Parks REIT. đź“ŚAstraZeneca Pharma India will launch Enhertu in January 2024 in India.

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RBI sold $310 million in spot forex market in October: Bulletin
Wed, Dec 20, 2023 5:37 PM

RBI sold $310 million in spot forex market in October: Bulletin

The Reserve Bank of India (RBI) sold $310 million in the spot foreign exchange market in October, according to the central bank’s monthly Bulletin. The central bank in the Bulletin said that it purchased $ 36.65 billion and sold $ 36.96 billion during the period. In September, the central bank had sold a net of $1.5 billion in the spot market. The RBI Bulletin is a monthly publication.

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UPI-based transaction touched Rs 17.4 lakh crore in December 2023!
Wed, Dec 20, 2023 5:35 PM

UPI-based transaction touched Rs 17.4 lakh crore in December 2023!

UPI-based transactions touched a total value of Rs 17.4 lakh crore in December 2023, according to the monthly bulletin of the Reserve Bank of India. The RBI Bulletin is a monthly publication that offers insights into the developments in domestic and global economies but doesn’t represent the views of the central bank. "Merchant transactions on the UPI platform, however, recorded a 74 percent.

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Bear attack! Nifty 50 sees biggest 1-day fall in 9 months!
Wed, Dec 20, 2023 5:35 PM

Bear attack! Nifty 50 sees biggest 1-day fall in 9 months!

MUMBAI - The non-stop bull run on Dalal Street came to a halt on Wednesday, as benchmark indices registered the biggest losses in a single session in over nine months after scaling record highs in early trade. From the all-time high level of 21,593 points, the Nifty 50 slumped more than 400 points or 1.4% and settled at 21,150. The Sensex plunged by over 1,400 points from its lifetime high.

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India urges G7 to delay ban on Russian diamonds as rules lack clarity!
Wed, Dec 20, 2023 5:34 PM

India urges G7 to delay ban on Russian diamonds as rules lack clarity!

India has urged the Group of Seven (G7) countries to delay an incoming ban on Russian diamonds because the rules to trace the origins of gems remain unclear, two sources aware of the matter said. India, home to 90% of the world’s diamond cutting and polishing industry, is critical to the implementation of the ban. New Delhi has also sought more clarity in its talks with G7 leaders.

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Gold jumps Rs 300; silver rallies Rs 800
Wed, Dec 20, 2023 5:30 PM

Gold jumps Rs 300; silver rallies Rs 800

Gold price jumped Rs 300 to Rs 63,100 per 10 grams in the national capital on Wednesday amid strong cues in international markets, according to HDFC Securities. The precious metal had closed at Rs 62,800 per 10 grams in the previous trade. Silver also rallied Rs 800 to Rs 78,500 per kilogram. In its previous close, it had settled at Rs 77,700 per kg. In the futures trade.

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Govt to release rules for data protection law soon, aims to notify!
Wed, Dec 20, 2023 5:29 PM

Govt to release rules for data protection law soon, aims to notify!

The government intends to release the draft rules for the Digital Personal Data Protection Law in the coming days and notify it in January, according to sources. This was conveyed to the industry during a consultation meeting held on December 20, 2022, at the Ministry of Electronics and Information Technology (MeitY). The meeting, chaired by Minister of State for Electronics and Information.

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Currency in circulation growth fell to 4% after Rs 2,000 notes withdrawal!
Wed, Dec 20, 2023 5:29 PM

Currency in circulation growth fell to 4% after Rs 2,000 notes withdrawal!

Growth in currency in circulation (CIC), the largest component of reserve money, declined to 4 percent from 8 percent a year ago due to the withdrawal of Rs 2,000 notes, the Reserve Bank of India (RBI) said in its monthly bulletin. The RBI Bulletin is a monthly publication that offers insights into the developments in domestic and global economies, but doesn’t represent the views.

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RBI Bulletin: More warnings on inflation as lowering it to 4% target!
Wed, Dec 20, 2023 5:28 PM

RBI Bulletin: More warnings on inflation as lowering it to 4% target!

India's central bank has sounded a strong warning on inflation, reiterating that a durable return to the medium-term objective of 4 percent is "far from assured" and that growth could also take a hit if it is not brought down to the target rate and "tethered" to it. "The softer inflation prints for September and October 2023 and the prolonged pause in the stance of monetary policy has engendered.

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Asia feels the sting of India's onion export ban
Wed, Dec 20, 2023 5:25 PM

Asia feels the sting of India's onion export ban

India's ban on the export of onions has driven up prices of the vegetable for Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year. The world's biggest exporter of onions banned shipments on Dec. 8 after domestic prices more than doubled in three months following a drop in production.

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DLF launches commercial in Gurugram, low-rise township in Panchkula!
Wed, Dec 20, 2023 5:22 PM

DLF launches commercial in Gurugram, low-rise township in Panchkula!

Listed real estate developer DLF Limited has announced the launch of a commercial plotted development project in Gurugram and a low-rise residential township in Panchkula, both in Haryana, having a cumulative revenue estimation of over Rs 1,400 crore, a senior executive of the real estate developer said. The Gurugram project “Central 67” is a commercial plotted development having shop-cum-office.

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Rupee settles flat at 83.18 against US dollar
Wed, Dec 20, 2023 5:21 PM

Rupee settles flat at 83.18 against US dollar

The rupee ended flat at 83.18 (provisional) against the US dollar on Wednesday amid massive selling in equity markets as concerns over oil supplies through the Red Sea route dented investor sentiment. Forex traders said though the US dollar index below 102 level provided support, the Indian currency was weighed down by foreign fund outflow amid volatile crude oil prices.

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Consumer Affairs Ministry mandates selling of welding electrodes by kilo.
Wed, Dec 20, 2023 5:12 PM

Consumer Affairs Ministry mandates selling of welding electrodes by kilo.

The Consumer Affairs Ministry has begun tightening the screws on the construction sector, mandating that welding electrodes must be sold in kilograms instead of pieces/numbers. It has also issued notices to tile companies, asking them to mention tile sizes on the boxes. An order passed by the Legal Metrology division of the Consumer Affairs Ministry on November 30, has directed the manufacturer.

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International tourist arrivals pick up in Goa but far from pre-pandemic.
Wed, Dec 20, 2023 5:12 PM

International tourist arrivals pick up in Goa but far from pre-pandemic.

The number of foreign tourist arrivals in Goa is picking up after a major drop due to COVID, but is yet to touch the pre-pandemic levels, according to official figures. For the first seven months of this calendar year, 2.81 lakh foreign tourists arrived in the coastal state, which is more compared to the figures for 2021 and 2022, when the sector was hit by the coronavirus outbreak.

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