Rupee is down to a record low, dragging stocks and bonds. And with few signs the commodity boom will end soon, investors are bracing for more possible losses.
With oil costs now 40% higher than they were two weeks ago, Chinese businesses are facing a profit squeeze and a fall in global demand for Chinese-made goods.
The surge in edible and crude oil prices are bound to feed into headline inflation, which has already breached the upper tolerance limit of RBI's 2-6% target range.
Material costs for industry will go up, pandemic recovery will take longer. But question is how long oil prices will stay high, with West avoiding sanctions on Russia’s energy sector.
This is worrying for the US Fed and fellow central banks as they seek to contain the strongest price pressures in decades without derailing recoveries from the pandemic.
More cars have thronged the main roads in December amid year-end festivities than seen last month. All but one major Asian country registered a rise in mobility on-month.
The Modi govt had hiked duties & cesses on fuels like petrol and diesel to record levels after a sharp dip in global crude prices last year resulting in higher revenue collections.
The effective duty, which includes cess and other charges, on crude palm oil will be 30.25% while for refined palm oil it would be 41.25% from Wednesday.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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