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Joe Biden and Narendra Modi to make progress on GE jet engines, nuclear The White House expects to see meaningful progress on GE jet engines and civil nuclear technology in upcoming bilateral talks between U.S. President Joe Biden and India Prime Minister Narendra Modi, national security adviser Jake Sullivan told reporters on Thursday. Earlier this year, the aerospace unit of General Electric (GE.N) announced it had signed an agreement with India's state-owned Hindustan Aeronautics to jointly make engines in India to power fighter jets for the Indian Air ...
Joe Biden and Narendra Modi to make progress on GE jet engines, nuclear
Joe Biden and Narendra Modi to make progress on GE jet engines, nuclear
Source: Reuters
8/09/2023 9:35:13 AM
India removes additional duty on 12 US products ahead of Joe Biden`s visit India has done away with additional duties on some American products like chickpeas, lentils, and apples, as US President Joe Biden is set to arrive on a three-day visit to India. These additional duties were imposed in 2019 in response to America’s decision to increase tariffs on certain steel and aluminium products. India had imposed these duties on 28 US products in 2019. The decision to remove these duties on American products was taken through a Finance Ministry notificati...
India removes additional duty on 12 US products ahead of Joe Biden`s visit
India removes additional duty on 12 US products ahead of Joe Biden`s visit
Source: IANS
7/09/2023 5:33:08 PM
Indian billionaires Mukesh Ambani, Gautam Adani set to attend G20 summit dinner India's richest businessmen, led by rivals Mukesh Ambani and Gautam Adani, will join G20 leaders at a dinner in the capital on Saturday, as the South Asian nation showcases its position as the world's fastest growing major economy. Prime Minister Narendra Modi has sought to wield leadership of the G20 grouping of the world's most powerful economies to promote India as a destination for trade and investment, particularly as China's economy slows. U.S. President Joe B...
Indian billionaires Mukesh Ambani, Gautam Adani set to attend G20 summit dinner
Indian billionaires Mukesh Ambani, Gautam Adani set to attend G20 summit dinner
Source: Reuters
6/09/2023 3:21:56 PM
Gold under pressure from elevated US dollar, bond yields Gold prices eased on Tuesday as the dollar benefited from elevated bond yields and China's economic concerns, with markets now looking ahead to U.S. retail sales data that could shed light on the impact of higher rates on consumer spending. Spot gold was down 0.2% at $1,905 per ounce by 0319 GMT, trading near its lowest level in 1-1/2 months hit in the previous session. U.S. gold futures dropped 0.3% to $1,937.80. Gold prices fell as the U.S. dollar and Treasury yields were pushed h...
Gold under pressure from elevated US dollar, bond yields
Gold under pressure from elevated US dollar, bond yields
Source: Reuters
15/08/2023 9:26:53 AM
Gold sags as investors buckle up for US inflation test Gold prices hovered near one-month lows on Thursday, as investors braced for the make-or-break U.S. inflation data that would shape the Federal Reserve's upcoming interest rate decisions. FUNDAMENTALS * Spot gold was steady at $1,916.19 per ounce by 0123 GMT, a few dollars away from its lowest level since July 10 hit on Wednesday. U.S. gold futures were down 0.1% at$1,948.90. * China's consumer sector fell into deflation in July as it struggled to revive demand and pressure m...
Gold sags as investors buckle up for US inflation test
Gold sags as investors buckle up for US inflation test
Source: Reuters
10/08/2023 8:49:14 AM
Asian shares slip on China worries; U.S. inflation figures awaited Asian stocks lost ground on Thursday, still hurting from China's slip into deflation, with investors particularly cautious ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.33% and it looked set to log a second...
Asian shares slip on China worries; U.S. inflation figures awaited
Asian shares slip on China worries; U.S. inflation figures awaited
Source: Reuters
10/08/2023 8:43:49 AM
India, US discuss G20 cross-border payments, global debt challenges India and the US have held wide-ranging discussions on cross-border payments issues including G20 payments roadmap, India’s United Payments Interface (UPI) platform, and the Federal Reserve’s implementation of the FedNow payments system. The meeting was held on August 3 between senior Finance Ministry officials led by Chief Economic Adviser V. Anantha Nageswaran and the US Treasury Department representatives in New Delhi, as part of their second sub-ministerial meeting followin...
India, US discuss G20 cross-border payments, global debt challenges
India, US discuss G20 cross-border payments, global debt challenges
Source: IANS
8/08/2023 9:22:59 AM
Critical & emerging technologies to emerge as important metrics of power: S. Jaishankar External Affairs Minister S. Jaishankar on Sunday said that critical and emerging technologies (CETs) are going to emerge as important metrics of power. Addressing the SemiconIndia conference virtually, Jaishankar said, "It is not surprising that CETs should now emerge as one of the important metrics of power. Who invents, who manufactures, what are the market shares, where are the resources, who has the skills, where is the talent pool -- these are increasingly the crucial questions....
Critical & emerging technologies to emerge as important metrics of power: S. Jaishankar
Critical & emerging technologies to emerge as important metrics of power: S. Jaishankar
Source: IANS
30/07/2023 12:19:45 PM
US President Joe Biden to host trilateral summit with South Korean , Japanese leaders in August: White House US President Joe Biden will host a trilateral summit with his South Korean counterpart Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida in Washington on August 18, the White House said. "At the summit (in Camp David), the leaders will celebrate a new chapter in their trilateral relationship as they reaffirm their strong bonds of friendship and the ironclad alliances between the US and Japan, and the US and the Republic of Korea," Yonhap News Agency quoted White House press...
US President Joe Biden to host trilateral summit with South Korean , Japanese leaders in August: White House
US President Joe Biden to host trilateral summit with South Korean , Japanese leaders in August: White House
Source: IANS
29/07/2023 10:25:58 AM
Eric Garcetti is being just the ambassador he said he would be Eric Garcetti was very clear from the very start what kind of ambassador he will be in India: someone who will not hesitate to rise to the defence of human rights and democracy. And that's what he did recently when asked about the situation in Manipur, although he did in the end cover his flanks well, saying India is for Indians to determine. Garcetti is a politician and his last job was as Mayor of Los Angeles, the second largest city in the US, Los Angeles. And unlike a profession...
Eric Garcetti is being just the ambassador he said he would be
Eric Garcetti is being just the ambassador he said he would be
Source: IANS
23/07/2023 11:36:16 AM
Yoon Suk Yeol, Joe Biden, Kishida to hold summit in US on Aug 18 South Korean President Yoon Suk Yeol will hold a trilateral summit with his US counterpart Joe Biden and Japanese Prime Minister Fumio Kishida at Camp David, near Washington, on August 18, sources said on Thursday. The three leaders are expected to discuss ways to strengthen deterrence against North Korea's nuclear and missile threats during the summit at the US presidential retreat in Maryland, reports Yonhap News Agency. The presidential office acknowledged in a notice to reporter...
Yoon Suk Yeol, Joe Biden, Kishida to hold summit in US on Aug 18
Yoon Suk Yeol, Joe Biden, Kishida to hold summit in US on Aug 18
Source: IANS
20/07/2023 2:36:36 PM
India-France interests in Indo-Pacific region vast & deep: Prime Minister Narendra Modi As Prime Minister Narendra Modi embarked on a trip to France on Thursday, he said interests between the two nations in the Indo-Pacific region were vast and deep. He made the remarks to French newspaper Les Echos ahead of his trip, which will also take him to the United Arab Emirates (UAE). "Our (India AND France) interests in the Indo-Pacific region are vast, and our engagement is deep. I have described our vision for this region in one word, 'SAGAR', which stands for Secu...
India-France interests in Indo-Pacific region vast & deep: Prime Minister Narendra Modi
India-France interests in Indo-Pacific region vast & deep: Prime Minister Narendra Modi
Source: IANS
13/07/2023 11:39:36 AM
Gujarat government to sign MoU with Micron Technology for Semiconductor Facility in Sanand The Gujarat government is set to sign a Memorandum of Understanding (MoU) with Micron Technology, a leading semiconductor chip making company based in the United States, on Wednesday. The signing ceremony will take place in the presence of the State Chief Minister Bhupendra Patel. The MoU aims to establish a semiconductor Assembly and test facility at Sanand in the Ahmedabad district. Micron Technology had previously announced its plans to set up a semiconductor assembly and test plant ...
Gujarat government to sign MoU with Micron Technology for Semiconductor Facility in Sanand
Gujarat government to sign MoU with Micron Technology for Semiconductor Facility in Sanand
Source: IANS
28/06/2023 12:45:51 PM
India-US friendship a force for global good, says Prime minister Prime Minister Narendra Modi on Monday said that India-US friendship is a force for global good. Modi's remark was in response to a tweet by US President Joe Biden, who said: "The friendship between the United States and India is among the most consequential in the world. And it's stronger, closer, and more dynamic than ever." To this the Prime Minister said: "I fully agree with you, @POTUS @JoeBiden! Friendship between our countries is a force of global good. It ...
India-US friendship a force for global good, says Prime minister
India-US friendship a force for global good, says Prime minister
Source: IANS
26/06/2023 11:37:56 AM
Prime Minister Narendra Modi ends US visit with a ringing endorsement of Biden While ending his four-day US visit, Prime Minister Narendra Modi, who is an astute politician, left behind a gift for his host, President wBiden: a resounding endorsement. "Over the last three days, we have been together continuously," Modi said on Friday in his address to a packed auditorium of Indian-Americans who had travelled from all over the US. Modi was at the White House for a private dinner on Wednesday, the day he arrived here from New York, and the whole of next mor...
Prime Minister Narendra Modi ends US visit with a ringing endorsement of Biden
Prime Minister Narendra Modi ends US visit with a ringing endorsement of Biden
Source: IANS
25/06/2023 12:48:54 PM
US-India collaboration on DPIs will make us a global digital innovation hub: Nasscom The partnership between the US and India to enable development and deployment of Digital Public Infrastructure (DPI) in developing countries will provide India with an opportunity to solidify its position as a global digital innovation hub, setting an exemplary model for other nations to follow, Nasscom has said. US President Joe Biden and Prime Minister Narendra Modi intend to work together to provide global leadership for the implementation of DPI to promote inclusive development, compet...
US-India collaboration on DPIs will make us a global digital innovation hub: Nasscom
US-India collaboration on DPIs will make us a global digital innovation hub: Nasscom
Source: IANS
24/06/2023 12:03:08 PM
`This is the moment` to invest in India, Narendra Modi tells US business community In a direct appeal to the US business community, Prime Minister Narendra Modi has said "this is the moment" to invest in India as both the Indian and the US governments have done everything to prepare -- "plough" -- the ground for them to come, play, and thrive. The Prime Minister said on Friday that this was the clear message from the technology handshake event at the White House earlier in the day in which he and President Joe Biden met leading CEOs from the US and In...
`This is the moment` to invest in India, Narendra Modi tells US business community
`This is the moment` to invest in India, Narendra Modi tells US business community
Source: IANS
24/06/2023 9:36:22 AM
India, US to develop small modular reactors for domestic and export markets India and the US are working together for developing next generation small modular reactor technologies for domestic and export markets. According to a joint statement issued by the US White House, amid Prime Minister Narendra Modi's US visit, President Joe Biden and Prime Minister Modi noted "the ongoing discussion on developing next generation small modular reactor technologies in a collaborative mode for the domestic market as well as for export". Small modular reactors...
India, US to develop small modular reactors for domestic and export markets
India, US to develop small modular reactors for domestic and export markets
Source: IANS
24/06/2023 9:20:49 AM
Boeing to invest $100 million in infrastructure, pilot training in India Boeing has announced a $100 million investment in infrastructure and programs to train pilots in India, according to a White House statement released on Thursday. This comes on the heels of Air India signing firm orders of over 200 jets earlier this week from Boeing, which include 20 787 Dreamliners, 10 777Xs, and 190 737 MAX narrowbody aircraft. The development also comes along with a flurry of deals signed by U.S. and Indian companies on the sidelines of Prime Minister Narendra Modi&#...
Boeing to invest $100 million in infrastructure, pilot training in India
Boeing to invest $100 million in infrastructure, pilot training in India
Source: Reuters
23/06/2023 5:29:39 PM
Millet, saffron to star in Joe Biden's dinner for Narendra Modi Millet, the coarse and hearty cereal India has been pushing on the world, will make a glitzy first world splash at a state dinner US President Joe Biden and First Lady Jill Biden are hosting for Prime Minister Narendra Modi at the White House on Thursday. Millet stalks will be seen in the talons of a peacock that will form the backdrop for Prime Minister Modi during his remarks. The first course will feature marinated millet with grilled corn kernel salad and compressed watermelon, acco...
Millet, saffron to star in Joe Biden's dinner for Narendra Modi
Millet, saffron to star in Joe Biden's dinner for Narendra Modi
Source: IANS
22/06/2023 9:24:59 AM
Narendra Modi visit to elevate focus on tech partnership, says top US commerce official US Secretary of Commerce Gina Raimondo on Tuesday said the upcoming state visit of Prime Minister Narendra Modi will give the two countries an opportunity to elevate their focus on commercial and strategic technology partnership in defense, clean energy, and medical supply chain. Raimondo was in India earlier this year and has talked fondly - as she did again on Tuesday - of celebrating Holi with her Indian counterpart Piyush Goyal. Modi's upcoming visit on June 22, "will be an...
Narendra Modi visit to elevate focus on tech partnership, says top US commerce official
Narendra Modi visit to elevate focus on tech partnership, says top US commerce official
Source: IANS
14/06/2023 10:23:20 AM
RushiSunak, Joe Biden unveil new economic partnership Visiting UK Prime Minister Rishi Sunak and US President Joe Biden have unveiled a new economic partnership called the "Atlantic Declaration" designed to strengthen co-operation between the two nations. This was Sunak's first visit to the Oval Office since assuming office in October 2022. The partnership will also reduce vulnerabilities" across supply chains and "keep Russia out of global civil nuclear power market", reports the BBC. It also covers areas s...
RushiSunak, Joe Biden unveil new economic partnership
RushiSunak, Joe Biden unveil new economic partnership
Source: IANS
9/06/2023 10:36:01 AM
India, US to discuss ways to strengthen strategic partnership during PM Narendra Modi's visit India and the US will discuss ways to strengthen their strategic partnership during Prime Minister Narendra Modi's upcoming visit to the country on June 22. Both the countries will also discuss ways to enhance the strategic technology partnership, specifically focussed on defence, the US press secretary, Karine Jean Pierre said in Washington on Wednesday. PM Modi and US President Joe Biden will also discuss ways to strengthen the shared commitment towards ensuring a free, prosperous...
India, US to discuss ways to strengthen strategic partnership during PM Narendra Modi's visit
India, US to discuss ways to strengthen strategic partnership during PM Narendra Modi's visit
Source: IANS
8/06/2023 10:30:47 AM
Looking forward to host Prime Minister Narendra Modi on June 22, says US The US administration has said that it is looking forward to host Prime Minister Narendra Modi on June 22. During a press briefing on Monday when asked about Modi's upcoming official state visit, the State Department's Principal Deputy Spokesperson Vedant Patel said: "We are very much looking forward to hosting Prime Minister Modi for the state visit later this month. Our partnership with India is one of our most consequential relations and we are looking forward to deepening ...
Looking forward to host Prime Minister Narendra Modi on June 22, says US
Looking forward to host Prime Minister Narendra Modi on June 22, says US
Source: IANS
6/06/2023 9:47:45 AM
Yellen urges new World Bank chief to `get the most` from balance sheet U.S. Treasury Secretary Janet Yellen on Thursday told incoming World Bank Group President Ajay Banga to "get the most out of the bank's balance sheet" and mobilize more private capital for climate finance and global development objectives, the Treasury said. During a meeting with Banga a day before the former Mastercard CEO takes office at the World Bank, Yellen "conveyed her strong desire for Treasury to continue close collaboration" with him on the lender's ev...
Yellen urges new World Bank chief to `get the most` from balance sheet
Yellen urges new World Bank chief to `get the most` from balance sheet
Source: Reuters
2/06/2023 9:11:08 AM
Gold eyes best week in nearly 2 months on Fed pause hopes Gold was set on Friday for its biggest weekly gain in nearly two months, as hopes for a pause in the Federal Reserve's tightening campaign bolstered bullion's appeal amid progress on the U.S. debt-ceiling deal. Spot gold was flat at $1,978.74 per ounce, as of 0241 GMT. U.S. gold futures were also little changed, at $1,996.20. Bullion has gained 1.7% so far in the week, heading for its best week since the week ended April 7. Current gold market sentiment remains constructive, ...
Gold eyes best week in nearly 2 months on Fed pause hopes
Gold eyes best week in nearly 2 months on Fed pause hopes
Source: Reuters
2/06/2023 8:57:40 AM
Dollar wallows as June Fed bets ebb, debt ceiling deal close The U.S. dollar wallowed near a one-week low versus major peers on Friday, on course for its worst week since late March, amid strengthening views that the Federal Reserve will forgo an interest rate hike this month. Signs that a bill to suspend the U.S. debt ceiling and avert a disastrous default would soon become law also removed a pillar of support for the dollar, which had paradoxically been a key beneficiary because of its safe-haven status. The U.S. dollar index, which measures th...
Dollar wallows as June Fed bets ebb, debt ceiling deal close
Dollar wallows as June Fed bets ebb, debt ceiling deal close
Source: Reuters
2/06/2023 8:52:17 AM
Exclusive-US set to allow GE to make engines in India for New Delhi`s military jets The Biden administration is poised to sign off on a deal that would allow General Electric Co to produce jet engines powering Indian military aircraft in that country, according to three people briefed on the decision. A deal finalizing the joint production of the engines is expected to be inked and announced by the time President Joe Biden hosts Indian Prime Minister Narendra Modi for an official state visit on June 22, the people said on condition of anonymity because the decision has no...
Exclusive-US set to allow GE to make engines in India for New Delhi`s military jets
Exclusive-US set to allow GE to make engines in India for New Delhi`s military jets
Source: Reuters
1/06/2023 8:59:42 AM
Oil falls as weak China data offsets US debt ceiling progress Oil prices extended losses early on Wednesday as worries of slowing demand from top oil importer China after the release of weaker-than-expected economic data outweighed some positive progress on the U.S. debt ceiling bill. Brent crude futures for August delivery fell 28 cents to $73.43 a barrel by 0250 GMT, while U.S. West Texas Intermediate crude (WTI) slipped 26 cents to $69.20 a barrel, with earlier gains reversed after China manufacturing data was released. Both benchmarks fell by mor...
Oil falls as weak China data offsets US debt ceiling progress
Oil falls as weak China data offsets US debt ceiling progress
Source: Reuters
31/05/2023 9:15:47 AM
Gold set for monthly drop as US debt agreement saps appeal  Gold prices eased on Wednesday, set for a monthly drop, as progress in the U.S. debt ceiling deal and expectations that the Federal Reserve will likely raise interest rates further eroded bullion's safe-haven status. Legislation brokered by U.S. President Joe Biden and House Speaker Kevin McCarthy to lift the $31.4 trillion debt ceiling and achieve new federal spending cuts passed an important hurdle, advancing to the full House of Representatives for debate and an expected vote ...
Gold set for monthly drop as US debt agreement saps appeal
Gold set for monthly drop as US debt agreement saps appeal
Source: Reuters
31/05/2023 9:15:00 AM
Risks on Indian rupee seen on the downside in wake of yuan`s plunge The bias on the Indian rupee is seen on the downside in Wednesday's trading session after the Chinese yuan dropped to a fresh six-month low to the U.S. dollar. Non-deliverable forwards indicate the rupee will open slightly weaker than 82.71 in the previous session. "Looking at the yuan, you would have to say a move higher (on USD/INR) is more likely," a spot trader said. Having said that, the question then is if the 82.85-82.90 level can be taken out, the trader added. ...
Risks on Indian rupee seen on the downside in wake of yuan`s plunge
Risks on Indian rupee seen on the downside in wake of yuan`s plunge
Source: Reuters
31/05/2023 8:50:06 AM
Global stocks and oil prices rise following US debt ceiling agreement Global stocks and oil prices moved higher on Monday as investors gave a cautious welcome to news of an agreement that could avert a catastrophic US debt default, media reports said. Germany's DAX was up 0.3 per cent in early trade, with France's CAC 40 edging up 0.2 per cent. In Asia, Japan's Nikkei 225 closed at a 33 year high, boosted by optimism over the debt ceiling deal and a weaker yen, which lifted exporters. The index has rallied nearly 20 per cent this year, CNN report...
Global stocks and oil prices rise following US debt ceiling agreement
Global stocks and oil prices rise following US debt ceiling agreement
Source: IANS
30/05/2023 9:44:46 AM
Gold prices hover near 2-month low as US debt deal weighs Gold prices traded in a narrow range on Tuesday, hovering close to a recent two-month low, as optimism over a U.S. debt ceiling deal and reduced bets for a pause in the Federal Reserve's rate hike policy in June dented the metal's appeal. Spot gold was flat at $1,945.19 per ounce by 0253 GMT. U.S. gold futures were listless at $1,944.10. U.S. President Joe Biden said on Monday he feels good about prospects for passage by Congress of the debt ceiling deal that he reached with Hou...
Gold prices hover near 2-month low as US debt deal weighs
Gold prices hover near 2-month low as US debt deal weighs
Source: Reuters
30/05/2023 9:02:23 AM
Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasm Oil prices rose on Tuesday as the expectations the debt ceiling deal in U.S., the world's biggest oil user, will spur more demand but fears of further interest rate rises and that OPEC+ will leave output quotas unchanged capped gains. Brent crude futures climbed 35 cents, or 0.5%, to $77.42 a barrel by 0145 GMT after gaining 12 cents on Monday. U.S. West Texas Intermediate (WTI) crude rose 53 cents to $73.20 a barrel, up 0.7% from Friday's close. There was no settlement on Monda...
Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasm
Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasm
Source: Reuters
30/05/2023 8:58:58 AM
Indian rupee may struggle on rising likelihood of Fed rate hike The Indian rupee may come under pressure on Monday, after a tentative deal to raise the U.S. debt ceiling made it likely that the U.S. Federal Reserve will raise rates next month. Non-deliverable forwards indicate the rupee will slightly lower from the previous session's level of 82.575 per U.S. dollar. Odds of a 25 basis points Fed rate hike at the June 13-14 meeting climbed to 2-in-3 after President Joe Biden on Sunday finalised a budget agreement with House Speaker Kevin McCarthy...
Indian rupee may struggle on rising likelihood of Fed rate hike
Indian rupee may struggle on rising likelihood of Fed rate hike
Source: Reuters
29/05/2023 9:06:49 AM
Oil rises after US leaders strike provisional debt deal Oil prices rose on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest economy and oil consumer, although concerns about further interest rate hikes capped gains. Brent crude futures climbed 66 cents, or 0.9%, to $77.61 a barrel by 0247 GMT, while U.S. West Texas Intermediate crude was at $73.42 a barrel, up 75 cents, or 1%. Trade is expected to be subdued on Monday because of UK and U.S. holidays. U.S. President Joe Bi...
Oil rises after US leaders strike provisional debt deal
Oil rises after US leaders strike provisional debt deal
Source: Reuters
29/05/2023 9:00:34 AM
Asian shares, US futures rise on debt ceiling deal Asian shares and U.S. stock futures rose on Monday, thanks to a weekend deal by U.S. President Joe Biden and House Speaker Kevin McCarthy to suspend the government's debt ceiling, ending a protracted stalemate and providing some relief for investors. After weeks of negotiations, congressional Republican McCarthy and Biden forged an agreement late on Saturday to avert an economically destabilising default to suspend the $31.4 trillion debt ceiling until 2025. The deal will now have to p...
Asian shares, US futures rise on debt ceiling deal
Asian shares, US futures rise on debt ceiling deal
Source: Reuters
29/05/2023 8:42:08 AM
Hyundai Motor, LG Energy Solution to invest $4.3 bn in US battery plant South Korea's Hyundai Motor Group and LG Energy Solution said on Friday they will invest 5.7 trillion won ($4.3 billion) in a battery cell plant in the United States, with an aim to begin operations in 2025. The two companies will set up a 50:50 joint venture within this year to build the plant with an annual capacity of 30 gigawatt-hours near Hyundai Motor Group's dedicated electric vehicle (EV) and battery plant under construction in Georgia, they said in separate statements....
Hyundai Motor, LG Energy Solution to invest $4.3 bn in US battery plant
Hyundai Motor, LG Energy Solution to invest $4.3 bn in US battery plant
Source: IANS
26/05/2023 3:27:14 PM
Oil settles lower as Russia downplays additional OPEC+ cuts Oil prices settled lower on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further OPEC+ production cuts at its meeting next week. Brent crude futures settled down $2.10, or 2.7%, to $76.25 a barrel. U.S. West Texas Intermediate crude (WTI) settled down $2.51, or 3.4%, to $71.83. At their session low, both benchmarks were down by more than $3. Oil prices began falling after Novak was quoted saying he did not think additional OPEC+ cuts were like...
Oil settles lower as Russia downplays additional OPEC+ cuts
Oil settles lower as Russia downplays additional OPEC+ cuts
Source: Reuters
26/05/2023 12:13:48 PM
Oil steady as markets await clarity on OPEC's next policy move Oil prices were roughly unchanged in early trading on Friday, as markets awaited clarity on OPEC and its allies' next oil policy moves after conflicting messages made it hard to predict the outcome of the meeting next week. Brent crude slipped 4 cents to $76.22 a barrel at 0022 GMT, while U.S. West Texas Intermediate was up 9 cents, or 0.1%, at $71.92 a barrel. Benchmarks had settled more than $2 per barrel lower on Thursday, after Russian Deputy Prime Minister Alexander Novak playe...
Oil steady as markets await clarity on OPEC's next policy move
Oil steady as markets await clarity on OPEC's next policy move
Source: Reuters
26/05/2023 8:50:32 AM
Dollar eyes third weekly gain on higher US rate expectations The dollar stood near a two-month high against its major peers on Friday and was headed for a third weekly gain on expectations that U.S. interest rates could remain higher for longer than initially expected. Jitters over debt ceiling negotiations between U.S. President Joe Biden and top congressional Republican Kevin McCarthy also continued to cast a shadow over market sentiment, with just a week to go before the so-called "X-date" on June 1, when the government would be unable ...
Dollar eyes third weekly gain on higher US rate expectations
Dollar eyes third weekly gain on higher US rate expectations
Source: Reuters
26/05/2023 8:48:07 AM
Indian rupee caught between rising Fed rate hike odds and support at 82.80/dollar The Indian rupee is expected to open little changed on Friday amid increasing probability of another Federal Reserve rate hike next month and the USD/INR's failure to move above 82.80, traders said. Non-deliverable forwards indicate the rupee will open barely changed from the previous session's level of 82.74 per U.S. dollar. The USD/INR pair has over the last few sessions repeatedly struggled to convincingly move above the 82.80-82.90 level despite the dollar's rally agains...
Indian rupee caught between rising Fed rate hike odds and support at 82.80/dollar
Indian rupee caught between rising Fed rate hike odds and support at 82.80/dollar
Source: Reuters
26/05/2023 8:46:12 AM
Stocks limp toward U.S. debt denouement; Japan sparkles Stocks were subdued on Friday, apart from standout gains in Japan, as an artificial intelligence rally took a breather and as time ticked out on high-stakes talks to avoid a U.S. debt default. MSCI's broadest index of Asia-Pacific shares outside Japan drifted 0.3% higher in trade thinned by a holiday in Hong Kong. The index is down 1.6% on the week. Japan's Nikkei, by contrast, rose 0.7% and is riding momentum from foreign inflows and basking in the afterglow of revenue and prod...
Stocks limp toward U.S. debt denouement; Japan sparkles
Stocks limp toward U.S. debt denouement; Japan sparkles
Source: Reuters
26/05/2023 8:43:34 AM
Rupee weakens against US dollar on Thursday Indian rupee weakened against the US dollar on Thursday driven by strong US dollar and weak Chinese Yuan, while worries over the US debt ceiling also pressurizing the domestic currency. Reports showed representatives of US President Joe Biden and congressional Republicans finished another round of debt ceiling talks on Tuesday with no signs of progress as the deadline to raise the government's borrowing limit or risk default ticked closer. However, Foreign Institutional Investors were net...
Rupee weakens against US dollar on Thursday
Rupee weakens against US dollar on Thursday
Source: Accord Fintech
25/05/2023 12:10:31 PM
Gold listless as debt ceiling talks show no progress Gold prices traded in a narrow range on Thursday as investors awaited further developments in the drawn-out debt ceiling negotiations, while a stronger dollar capped advances. Spot gold held steady at $1,957.49 per ounce by 0300 GMT. U.S. gold futures fell 0.3% to $1,958.60. The dollar index held firm close to the previous session's high, keeping a lid on gold prices. [USD/] Bullion has been attempting to recover from its previous sell-off, but a stronger dollar and higher U.S. T...
Gold listless as debt ceiling talks show no progress
Gold listless as debt ceiling talks show no progress
Source: Reuters
25/05/2023 9:59:36 AM
Oil prices fall on US debt uncertainty Oil prices fell in early Asian trading on Thursday after uncertainty that the United States will avoid a debt default weighed against the prospect of further OPEC+ production cuts. Brent crude futures slipped 5 cents, or 0.1%, to $78.31 a barrel by 0042 GMT. U.S. West Texas Intermediate crude (WTI) fell 16 cents, or 0.2%, to $74.18. Some progress had been made but several issues remained unresolved in U.S. debt ceiling negotiations, House Speaker Kevin McCarthy said Thursday, as the dea...
Oil prices fall on US debt uncertainty
Oil prices fall on US debt uncertainty
Source: Reuters
25/05/2023 9:15:19 AM
Asian stocks sink on debt ceiling jitters Asian shares fell to a two-month low on Thursday, and the U.S. dollar rose as the impasse in negotiations to raise the U.S. debt ceiling kept investors wary of risky assets due to the hit the global economy will take if the U.S. government defaults. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.56% to a two-month low of 505.35, with Australia's S&P/ASX 200 index was down 0.78%. Japan's Nikkei remained an outlier for the region, gaining 0.32%. China sh...
Asian stocks sink on debt ceiling jitters
Asian stocks sink on debt ceiling jitters
Source: Reuters
25/05/2023 8:48:16 AM
Asia stocks falter, New Zealand $ stumbles as RBNZ signals hikes over Asian stocks on Wednesday extended a global sell-off as U.S. debt ceiling negotiations dragged on without resolution, while the New Zealand dollar tumbled after the central bank caught markets off-guard by flagging that its tightening cycle is over. The U.S. dollar - paradoxically - remained elevated amid safe-haven demand, which was also a driver of Treasuries and pushed yields lower. Crude gained, though, as a warning from the Saudi energy minister to speculators raised the prospect o...
Asia stocks falter, New Zealand $ stumbles as RBNZ signals hikes over
Asia stocks falter, New Zealand $ stumbles as RBNZ signals hikes over
Source: Reuters
24/05/2023 9:00:20 AM