India is 80% dependent on imports for meeting its oil needs and retail rates adjust according to the global movement in crude prices. (Representative Image) Prices of petrol and diesel have remained steady for over 40 days now. Since the end of a four-and-a-half-month-long stop in rate revision on March 22, rates of petrol and diesel have increased by Rs 10 a litre each through 14 revisions. Fuel prices were last hiked on April 6 by 80 paise a litre each. According to a price notification from fuel retailers, petrol in Delhi costs Rs 105.41 a litre and diesel Rs 96.67 a litre. In Mumbai, petrol and diesel prices are at Rs 120.51 and Rs 104.77 respectively. In Chennai, petrol costs Rs 110.85 and diesel Rs 100.94 . In Kolkata, petrol is at Rs 115.12 and diesel Rs 99.83. Oil marketing companies (OMCs) began to raise retail prices of fuel on March 22. In March, the hike was Rs 6.40 a litre each and in April the hike was Rs 3.60 a litre each. In May, there has been no … [Read more...] about Fuel Prices on May 19: Check out petrol, diesel rates in Mumbai, Delhi and other cities
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Keeping it Real with Real Vision’s Raoul Pal
A super slide for stocks, bonds, and cryptocurrencies rolled all the way into last week, right up until Friday, when the Nasdaq posted its strongest one-day gain since November of 2020. Despite Friday's gains, the major averages posted losses for the week, with the Dow closing down more than 2% and posting its first seven-week losing streak since 2001. The S&P 500 fell 2.5% and hit its longest weekly losing streak since 2011, while the Nasdaq fell 2.8%. It's been a rough, rough year across capital markets. A full $35 trillion in global market value has been erased since the beginning of the year. That's 14% of all global wealth, including a trillion dollars of losses in cryptocurrencies. To put those losses in perspective, 2008 saw a 19% decline in global market value, and that doesn't include non-financial assets such as housing. Still, perspective is everything, especially for investors who have been invested in the U.S. stock market for at least five years. Believe it or not, … [Read more...] about Keeping it Real with Real Vision’s Raoul Pal
Philippine peso firms after rate hike, Asian stocks fall on growth fears
- A + A BENGALURU (May 19): The Philippine peso firmed on Thursday after its central bank raised rates for the first time in more than three years, while Asian shares tumbled on concerns around surging inflation, its impact on retail demand, and the threat of a recession. Stocks in Manila fell 1%, while the Philippine peso edged up 0.2%. The Philippine central bank raised its benchmark interest rate by 25 basis points, as expected, to address rising inflationary pressures. "With the recovery in hand and price pressures surging, Bangko Sentral ng Pilipinas (BSP) finally decided to join the rate-hike club... The bigger development was the quick walk-back of pandemic support with BSP closing the provisional advance and tweaking the bond purchase window," said Nicholas Antonio Mapa, senior economist at ING. Equities in the region also tracked weakness on Wall Street overnight as retail giant Target Corp warning of a bigger margin hit due to rising fuel and freight … [Read more...] about Philippine peso firms after rate hike, Asian stocks fall on growth fears