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Dollar index renews momentum; US PPI data awaited
The dollar index is edging closer to 100 on Thursday, lingering near its highest levels in two months amid fresh US attacks over Iran and as US consumer inflation accelerated in May to its fastest pace in more than three years due to soaring energy costs. May US inflation accelerated at its fastest pace in over three years due to surging energy costs, though the data matched expectations. Market focus now turns to the upcoming release of May's Producer Price Index (PPI) and Initial Jobless Claims. The yield on the US 10-year Treasury note steadied around 4.55% on Thursday awaiting fresh US economic data for further clues on the Federal Reserves policy outlook.
Why India is the centerpiece of LG's billion-dollar bet on the Global South
LG India growth strategy and consumer electronics market expansion: LG Electronics is targeting a significant revenue increase in India, Saudi Arabia, and Brazil by 2030. India is a crucial market, offering opportunities for both new buyers and upgrades. The company is adapting its products and manufacturing to meet local needs. This strategy aims for profitable and sophisticated growth in emerging economies.
INR extends downside as dollar firms and oil renews surge
The Indian rupee slipped back against the dollar in opening trades on Thursday as dollar index renewed gains and crude oil prices took flight. The dollar index traded around 100 on Thursday, lingering near its highest levels in two months amid fresh US attacks over Iran and as US consumer inflation accelerated in May to its fastest pace in more than three years due to soaring energy costs. INR opened at Rs 95.55 per dollar and slipped further to a low of 95.64 so far during the day. Yesterday, rupee was largely flat and settled almost unchanged at Rs 95.25 per dollar. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Local equities are likely to open on a cautious note on Thursday as concerns mounted about a re-escalation of the Middle East conflict and a stronger U.S. inflation print reinforced expectations that borrowing costs would remain higher for longer. On Wednesday, Indian shares gave up early gains to end little .
Rupee falls 25 paise against dollar in early trade: What's weighing on the currency
Indian rupee opens weaker as Brent crude surges after Iran US conflict escalates, RBI steps up support while markets watch oil prices and global risk trends.
Rupee opens 25 paise lower at 95.52 against US dollar
The rupee fell 25 paise to 95.52 against the US dollar amid escalating US-Iran tensions and rising crude oil prices, raising concerns about India's inflation and external balance. The RBI's intervention aims to stabilize the currency, but sustained support is needed alongside moderating oil prices.
SpaceX IPO vs OpenAI IPO: Valuations, fundamentals to growth prospects - key things to know
OpenAI has filed for a confidential IPO, following Anthropic's lead, as both aim for trillion-dollar valuations amid rising investor interest in AI. The listings may reshape financial markets, but analysts warn of high valuations and risks associated with operational execution and competition.
US senator Elizabeth Warren asks regulator to delay SpaceX IPO, flags concerns over high valuation
Sen. Elizabeth Warren urges the SEC to delay SpaceX IPO, citing valuation, governance, conflicts over Elon Musk and xAI, and risks to investors from a 135 dollar fixed share price
Power finance cos turn to global markets for cheaper funds
Indian power and renewable energy firms are looking abroad for loans. The Reserve Bank of India's new dollar-rupee swap facility has made foreign currency borrowing cheaper. Companies like REC and PFC are planning to raise significant funds through external commercial borrowings. This move is expected to lower borrowing costs for these public sector undertakings.
At 22, he moved from US to India with a food idea. Now it's a multi-million-dollar business
What began as a study-abroad trip to Jaipur turned into a life-changing business idea for American entrepreneur Bert Mueller. Thirteen years after moving to India to introduce Southern California-style burritos, his restaurant chain has grown to more than 100 outlets across the country.
India Infrastructure Lender Seeks Dollar Loan After RBI Move
The state-owned infrastructure lender is looking at a total pricing of 6.5% to 7%, including hedging costs, Managing Director Rajkiran Rai G. said in an interview.
INR pares initial losses and settles largely unchanged
The Indian rupee was largely flat and settled almost unchanged at Rs 95.43 per dollar, down just 2 paise on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Indian shares gave up early gains to end little changed on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation data later in the day for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks. The BSE Sensex ended the day at 73,983.18, up by 64.42 points (0.09%), while the NSE Nifty 50 settled at 23,214.95, slipping by 27.15 points (-0.12%).
Short-term bond yields hit three-month low on RBI dollar measures
On Friday, the Reserve Bank of India unveiled steps to attract dollar inflows, including fully subsidising hedging costs on foreign currency deposits raised from non-resident Indians