Business & Economy

June 3, 2024 4:45 PM

SBI’s market cap crosses Rs 8 lakh crore, stocks surge to all-time high

The market capitalization of the State Bank of India (SBI) crossed the Rs 8 lakh crore mark on Monday after the bank's shares surged by 9 per cent during a rally in the stock market, hitting an all-time high of Rs 912. SBI's shares have increased by more than 50 per cent in the past six months. Fi...

June 3, 2024 4:31 PM

OPEC+ extends oil output cuts into 2025

OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production. Brent crude oil prices have been trading near $80 per barrel in recent days, below what many OPE...

June 3, 2024 4:24 PM

Global markets-European shares rally, eyeing ECB rates move

European stocks bounced and government bond yields dropped on Monday as investors looked forward to an interest rate cut from the European Central Bank (ECB), while U.S. jobs data kept the focus squarely on inflation. The pan-European STOXX was up 0.6% by 0850 GMT, while U.S. stock futures also ros...

June 3, 2024 2:58 PM

European Union maintains ban on Pakistani air carriers after safety review

The European Union (EU) has reaffirmed its decision to maintain the ban on Pakistani air carriers, including the flagship Pakistan International Airlines (PIA), following a comprehensive safety review. This decision follows an extensive assessment by the EU Air Safety Committee, which included an o...

September 16, 2024 5:35 PM

Sensex, Nifty hit record highs on expectation of Modi 3.0

The stock market opened with an unprecedented uptick on Monday, reaching an all-time high after exit polls forecast a decisive victory for the BJP-led NDA coalition, sparking widespread investor optimism. The Sensex surged by 1859.88 points, opening at a record 75,821.19, while Nifty jumped 603.85 p...

September 16, 2024 5:43 PM

Asia shares rally on promise of rate relief, factory pick up

Asian share markets rallied on Monday as investors looked forward to a rate cut in Europe, and quite possibly Canada, as the next step in global policy easing, though sticky inflation threatens to make the process a drawn out affair. There was also better news from China as the private Caixin surve...

June 2, 2024 2:29 PM

Saudi Arabia kicks off landmark Aramco share sale to raise up to $13 bln

Saudi Arabia kicked off a secondary share sale in oil giant Aramco on Sunday, a landmark deal that could raise up to $13.1 billion in a major test of international appetite for the kingdom's assets. The banks on the deal will take institutional orders through Thursday and will price the shares the ...

May 31, 2024 10:18 PM

Global stocks lose steam after U.S. data

MSCI's global equities index gave up earlier gains on Friday after data showed modest U.S. inflation in April, while the dollar fell with Treasury yields as investors still bet on Fed interest rate cuts this year. The U.S. Commerce Department said the personal consumption expenditures (PCE) price i...