By Kavya Guduru (Reuters) – Gold rallied on Wednesday as the dollar and Treasury yields retreated after the Federal Reserve announced the biggest U.S. interest rate hike since 1994 and flagged economic risks. The Fed raised its target interest rate by three-quarters of a percentage point to stem a surge in inflation and projected a …
Gold charges higher as dollar, yields retreat after big Fed rate hike Read More »
By Philip Blenkinsop and Emma Farge GENEVA (Reuters) -The global technology industry is pressing the World Trade Organization to exempt data flows from cross-border tariffs, saying a failure to do so would undermine a global recovery already threatened by spiralling prices. The WTO’s 164 members presented their views on the topic on Wednesday as negotiations …
Global tech on edge as WTO weighs e-commerce tariffs Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell more than $3 on Wednesday as markets worried about a fall in demand after the Federal Reserve hiked interest rate by three-quarters of a percentage point. Brent crude futures for August settled down $2.7, or 2.2%, at $118.51 a barrel, having fallen as low as $117.75. U.S. …
Oil prices fall over 2% as Fed hikes interest rates Read More »
By Nidhi Verma NEW DELHI (Reuters) – India’s gasoil demand rose at a rapid pace during the first two weeks of June, preliminary data released on Wednesday showed, and long queues appeared at some fuel stations as concerns grew over supply. State-controlled retailers sold 3.4 million tonnes of gasoil from June 1 to 14, up …
India diesel sales rise 48% in first two weeks of June Read More »
DUBAI (Reuters) – The United Arab Emirates (UAE) has ordered a four-month suspension in exports and re-exports of wheat and wheat flour originating from India, the world’s second biggest producer of the grain, state news agency WAM said on Wednesday. The Gulf nation’s economy ministry cited interruptions to global trade flows as the reason for …
UAE to suspend exports of Indian wheat for four months Read More »
By Munsif Vengattil NEW DELHI (Reuters) -India said on Wednesday it would reserve part of its next-generation telecoms spectrum for private in-house networks, as the government announced a 5G auction to take place by the end of July. Until now, India’s telecoms services have been run by specialist companies in a market dominated by Vodafone …
India holds some bandwidth for private networks in July’s 5G auction Read More »
NEW DELHI (Reuters) – India’s May trade deficit widened to $24.29 billion from $6.53 billion a year ago, a government statement said on Wednesday. May’s trade deficit was pushed up by a surge in imports, which rose 62.83% year-on-year to $63.22 billion, while exports rose 20.55% to $38.94 billion, revised trade data released by the …
India’s May trade deficit widens to $24.29 billion – trade ministry Read More »
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China’s economy showed signs of recovery in May after slumping in the prior month as industrial production rose unexpectedly, but consumption was still weak and underlined the challenge for policymakers amid the persistent drag from strict COVID curbs. The data, however, provides a path to revitalise growth …
China’s factories perk up, but frail consumption points to weak economic recovery Read More »
By Kavya Guduru (Reuters) – Gold gave up small gains in range-bound trading on Tuesday as the dollar resumed its climb and hit a 20-year high, eroding bullion’s safe-haven appeal on investor bets of aggressive rate hikes by the U.S. Federal Reserve. Spot gold fell 0.4% to $1,811.59 per ounce by 1:54 p.m. EDT (1754 …
Gold eases as dollar resumes rally in run up to Fed decision Read More »
By Shilpa Jamkhandikar and Sudipto Ganguly MUMBAI (Reuters) -U.S. media behemoth Walt Disney and Indian conglomerate Reliance Industries were the major winners in a high-stakes bid to broadcast the IPL, the world’s richest cricket league, for the next five years in deals fetching the organisers $6.2 billion. Disney-owned Star India retained the television broadcast rights …
Cricket-IPL broadcast deal fetches $6.2 billion; Disney, Viacom18 bag rights Read More »
