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Govt. hikes fuel prices again

Govt. hikes fuel prices again

Energy Minister Kanchana Wijesekera says price hike still has mixed results with profits and losses Manages to make profits from all petrol products and super diesel, while incurring losses from kerosene and auto diesel Admits to instructing Govt. for a partial lockdown to limit travel given the fuel shortage  Token … Read more

Free float of currency bloats foreign debt by 50% to Rs. 9.5 t

Free float of currency bloats foreign debt by 50% to Rs. 9.5 t

Fresh debate over merits of sudden flotation of the rupee Total outstanding Govt. debt tops Rs. 20 b mark to Rs. 21.7 t end March from Rs. 17.6 t Foreign debt share is 44%; at current exchange rate figure is $ 26.5 b By Nisthar Cassim … Read more

Volatility no bar: DIIs cushion FPI exit impact over last 8 months

Volatility no bar: DIIs cushion FPI exit impact over last 8 months

Undaunted by the massive sell-off by foreign portfolio investors (FPIs) from the Indian stock markets, domestic institutional investors (DIIs), led by mutual funds and insurance companies, have invested Rs 2,88,167 crore in the stock market (excluding debt and IPOs) since November 2021. According to stock exchange data, FPIs have pulled out Rs 3,54,285 crore in … Read more

Sell-off continues; FPIs pull out Rs 46,000 cr from Indian equities in June so far amid monetary policy tightening and higher oil prices

Sell-off continues; FPIs pull out Rs 46,000 cr from Indian equities in June so far amid monetary policy tightening and higher oil prices

Continuing to desert Indian equity markets and Foreign investors pulled out close to Rs 46,000 crore so far this month following monetary policy tightening by the Reserve Bank and US Federal Reserve, high oil prices, and volatile rupee. The net outflow by foreign portfolio investors (FPIs) from equities reached Rs 2.13 lakh crore unitll now … Read more

RBI mulls fewer rate hikes than other mkts

RBI mulls fewer rate hikes than other mkts

TNN Mumbai: The Reserve Bank of India (RBI) plans to undertake fewer rate hikes than other markets and bring back inflation within its target in two years, a top official said on Friday. At the same time, it hopes that inflation can ease earlier if the monsoon brings in a more benign outlook on food … Read more

How the economic crisis in Sri Lanka is affecting Indian businesses?

Sri Lanka

Sri Lanka is in a crisis. Covid-19 has sent the economy into a tailspin, and it is in free fall now. Its Prime Minister Ranil Wickremesinghe recently said that the country’s economy has “collapsed”. The spillover of the crisis has reached Indian shores too. ITC has said that its first … Read more

Economic revival steady, RBI calming inflation: Governor

Economic revival steady, RBI calming inflation: Governor

MUMBAI: The revival of economic activity continues to be steady and is gaining traction, and RBI is on track to bring down inflation and inflationary expectations, governor Shaktikanta Das has said. “GDP has exceeded 2019-20 levels, and from April 2022 onwards, many high-frequency indicators we monitor are showing steady improvement. The economy is back on … Read more

US FED raises interest rates, SBV gives message about exchange rate

US FED raises interest rates, SBV gives message about exchange rate

The State Bank of Vietnam (SBV) has affirmed that it will apply a flexible monetary policy amid global uncertainties Since early 2022, the international financial market has experienced complicated movements. Russia-Ukraine tensions have had a negative impact on the global economic and financial system, affecting fuel prices and basic commodities, and exacerbating the consequences of … Read more

$ 16 m investment by Anunine Holdings to revive Embilipitiya Paper Mill

$ 16 m investment by Anunine Holdings to revive Embilipitiya Paper Mill

BOI Chairman Raja Edirisuriya and Director General Renuka M. Weerakone exchange the agreement with KSPA Directors Saveen Abeyratne and Sonali Abeyratne     Plans to set up pulp mill in second phase to recycle waste paper and produce wet pulp for exports … Read more