Nobel Laureate Philippe Aghion (Credit-University of Oxford) The ongoing conflict in the Middle East is unlikely to trigger a global economic collapse on the scale of the 2008 financial crisis, Nobel Prize-winning economist Philippe Aghion has said, even as he warned that a prolonged war and sharply rising oil prices could slow global growth, AFP…
Benchmark equity indices Sensex and Nifty ended sharply lower on Monday, as surging crude oil prices and weak global cues triggered a broad-based sell-off amid escalating tensions in Middle East.The 30-share BSE Sensex plunged 1,352.74 points, or 1.71%, to settle at 77,566.16, marking its second straight day of decline. During the session, the index had…
Lower office rentals are helping Navi Mumbai emerge as a preferred destination for multinational companies and global capability centres (GCCs), with rents in the city about 21% below the average of major Tier-I markets, according to a report by real estate data analytics firm CRE Matrix.The report, ‘Navi Mumbai Rising: A Comprehensive Perspective on India’s…
Gold futures tumbled on Monday, slipping Rs 1,052 to close at Rs 1,60,582 per 10 grams, as local spot demand weakened. On the Multi Commodity Exchange, April gold contracts fell 0.65% in a turnover of 1,729 lots, with analysts pointing to soft global cues as the key factor behind the decline. Meanwhile, silver futures advanced…
India is focused on securing its energy supplies and protecting its citizens, as the Middle East conflict continues to escalate. Speaking in the Rajya Sabha on Monday, external affairs minister S Jaishankar said that national interest, including energy security will always be top priority and that the government is committed to ensure “that it takes…
As the Middle East war continues to cast a shadow over energy supplies, G-7 nations are considering to jointly release strategic oil reserves. According to a report by Financial Times, finance ministers of the Group of Seven are set to discuss a potential joint release of strategic emergency reserves, on Monday, in a bid to…
Oil markets skyrocketed beyond the $100 mark on Monday as Middle East conflict continues to intensify, fueling fears about energy supplies disruption and shipping routes across the region. Brent crude, the global benchmark, climbed past $118 a barrel. US benchmark West Texas Intermediate followed a similar trajectory as the light, sweet crude grade jumped 30%…
Asian stocks opened sharply lower on Monday, weighed down by surging oil prices and concerns over economies reliant on energy imports from the Middle East. South Korea’s Kospi emerged as the hardest hit, tumbling over 7.8% or 437 points to 5,147. Nikkei plunged 6.6% or 3,683 points to 51, 937. Around 11 am IST, HSI…
Stock market began the week in red with Nifty trading below 24,000 and Sensex tumbling over 2,000 points as the Middle East conflict continues to intensify. As of 9:27 am, NSE Nifty50 was trading 23,703.60, down 746.85 points or 3.05%. BSE Sensex plunged 2,415.69 points or 3.06% to trade at 76,503.21. This follows a weak…
MUMBAI: Axis Bank has entered into an agreement with Max Financial Services to pursue a listing of their life insurance joint venture, Axis Max Life Insurance, by April 2027, potentially through a merger of Max Financial into the insurer. The agreement outlines a sequence of options to unlock value from the insurance business, with the…