NEW DELHI: The Karnataka government announced a hike in petrol and diesel prices, which will come into effect from Saturday onwards. The decision to increase the prices is a result of a change in the sales tax imposed on petroleum products by the state government.The price of petrol has increased by Rs 3 per litre,…
NEW DELHI: Retail inflation eased slightly to a 12-month low in May with prices of some food items moderating marginally, while the index of industrial production (IIP) growth held steady at 5% level in April.Data released by the National Statistical Office (NSO) on Wednesday showed retail inflation, as measured by the Consumer Price Index (CPI),…
NEW DELHI: State-run oil marketing companies reduced the prices of a 19 kg commercial LPG gas cylinder by Rs 69.50 to Rs 1,676 on Saturday in Delhi, providing relief to businesses.State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) of cooking gas on the 1st of…
India‘s gold imports in 2024 could fall by nearly a fifth from the previous year, as record high prices spur retail consumers to exchange old jewellery for new items, the head of an industry body told Reuters. Lower imports by India, the world’s second biggest consumer of the precious metal, could cap a rally that…
Prices of Indian lab-grown diamonds (LGDs) have crashed by 45% in FY24 due to overproduction in the global markets. In FY24 global production of lab-grown diamonds stood at 40 million carats, which is almost 33% higher than FY23 production. Indian LGD exports have dropped by 18.2 % in April to $83.77 million in value terms…
Elevated prices, fewer weddings and election-related restrictions will likely impact consumer demand of gold, according to World Gold Council (WGC). However, any price stability ahead of Akshaya Tritiya could provide some respite, said Kavita Chacko – Research Head, India of WGC. At the same time, gold’s continued strong performance this year could encourage investment demand,…
NEW DELHI: Global fashion retailers including H&M and Gap are committed to raising purchase prices for Bangladesh-made clothing to help factories there offset higher workers’ wages, a U.S.-based association representing more than 1,000 brands said. Bangladesh is the world’s biggest garments exporter after China. This week, after deadly protests between police and factory workers, the…
