E marketing challenges and opportunities

The rupee hit an all-time low of nearly 77 a dollar on Monday after crude oil made fresh surges on news reports that the US and its European allies were weighing a ban on Russian oil.  This was the fourth consecutive session when the currency weakened. At 12.11pm, the home currency was trading at 76.96 a dollar, down 1.03 percent from its previous close. It opened at 76.96 a dollar and touched a record low of 76.97 during the day. Analysts says that the higher crude is likely to widen India's current account deficit. A higher current account deficit is likely to put further pressure on the domestic currency. The Russian invasion of Ukraine and likely lower exports of Russian crude oil will keep the oil prices elevated for a protracted period. "We note increasing risks of global crude prices staying elevated in the next 6-9 months due to large imbalances in the global crude oil markets," an analyst said. Brent soared to a near 14-year high of $140. Oil reached its highest … [Read more...] about Rupee trades at record low of 76.96 a dollar on soaring crude prices

Representative image The rupee appreciated 7 paise to 77.49 against the US dollar in opening trade on Friday as crude oil prices retreated from the elevated levels. At the interbank foreign exchange, the rupee opened at 77.51 against the American dollar, then gained further ground to quote at 77.49, registering a rise of 7 paise from the last close. On Thursday, the rupee had settled at 77.56 against the US dollar. Global oil benchmark Brent crude futures fell 0.71 per cent to USD 111.24 per barrel. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.29 per cent higher at 103.02. Close According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee opened stronger against the US dollar on Friday supported by an overall fall in the greenback and easing bond yields. "Asian and emerging market peers have started weaker and could cap strength. However, crude prices have eased and could … [Read more...] about Rupee surges 7 paise to 77.49 against US dollar in early trade

US President Joe Biden (File image: Reuters) As Americans deal with the highest inflation in decades, President Joe Biden has declared that combating rising costs is a priority for his administration. Lately, he has cited one policy in particular as an inflation-fighting tool: shrinking the nation’s budget deficit. “Bringing down the deficit is one way to ease inflationary pressures in an economy,” Biden said this month. “We reduce federal borrowing and we help combat inflation.” The federal budget deficit — the gap between what the government spends and the tax revenue it takes in — remains large. But Biden has pointed out that it shrank by $350 billion during his first year in office and is expected to fall more than $1 trillion by October, the end of this federal budget year. Rather than stemming from any recent budget measures by his administration or Congress, the deficit reduction largely reflects the rise in tax receipts from strong economic growth and the winding … [Read more...] about Biden’s curious talking point: Lower deficits offer inflation relief

Petrol and diesel prices are expected to rise as the polls for the Assembly elections in five states including Uttar Pradesh come to an end. (Representative Image) Excise duty has to be reduced by Rs 10-12 on diesel and petrol, former finance secretary said, saying there was no other choice before the government to protect the consumer from rising global crude as the end to the fuel price looms. “(Tax) revenue will fall. No way retail prices can reduce without a hit on revenue. Excise duty has to be reduced by Rs 10 to Rs 12. There is no choice. Profitability of OMCs (oil marketing companies) will also get hit," Subhash Chandra Garg said in an interview to CNBC-TV18. Brent crude oil prices tested $139 a barrel on March 7 . Rupee hit an all-time low of nearly 77 a dollar after crude oil surged afresh on reports that the US and its European allies were weighing a ban on Russian oil. This is likely to have a major impact on domestic fuel prices. Petrol and … [Read more...] about Excise duty on fuel has to be reduced by Rs 10-12 as there is no other option: Former finance secretary

Money. Power. Fame. Success. All accomplishments in life that we’ve been told can “go to our head”—meaning, in the idiomatic sense, that we grow pompous, callous, and strangely forgetful of the people who cheered us on and the places from which we come. advertisement advertisement But such forces can also “go to your head” in a much less figurative way. As in, they can literally mold the shape of your brain. That’s the finding of a recent publication from the University of Pennsylvania and international collaborators, who studied the neural effects of socioeconomic status. According to the team, which is called BIG BEAR—for Brain Imaging and Genetics in Behavioral Research—such factors as your education, your job, your income, and the neighborhood in which you live can chisel the brain’s architecture across a variety of lobes, structuring its relative gray matter volume. Using the United Kingdom’s Biobank —a research-based treasure trove of human … [Read more...] about The neuroscience behind money and power: How socioeconomic status can literally shape your brain

The success of a well-run business is not determined by its financial performance levels alone, and that is why leaders need to take a holistic approach and consider how each area of the establishment and decisions made about specific contributions to the company can build it up or weigh it down. advertisement advertisement As you work towards achieving your financial goals, it’s also important to find the right balance and prioritize how to maintain a steady cash flow and make wise choices about how and where to invest your time and money to elevate the organization. Below are 16 members of Fast Company Executive Board to share some of the best practices they’ve received about how to manage their company finances. 1.  DEVELOP A LONG-TERM PERSPECTIVE. advertisement As Warren Buffet says: “Think long-term.” As a manager, you have to live months or years ahead of where your company is now. Ask where you want to be in a year and invest … [Read more...] about Leading executives share 16 tips that nurture corporate finance

IPOH: While some fathers feel that seven days of paternity leave is too short, others believe it is more than enough. Marketing designer Muhammad Luqman Hakim Mohamed Radzi, who will soon have his second child, said seven days will be good enough to “settle matters related to a newborn”. ALSO READ : SMEs unhappy with longer paternity leave “There are a number of things to be done such as registering the baby’s name and getting a birth certificate. “Most infants also develop jaundice a few days after birth so the extra days of leave will be important for the men as they need to accompany their wife and newborn to the doctor,” he said in response to the Dewan Rakyat’s passing of amendments to the Employment Act on March 21, which saw the three-day paternity leave extended to seven days. Working fathers are eligible for paternity leave for up to five children. They must also have worked at the company for at least 12 months to be entitled to such leave. Before this, the … [Read more...] about Seven days of paternity leave more than enough, say some dads

(Representative Image) In news that comes as a relief to the common man, the Centre has decided to cut excise duty on petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will effectively reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre. Finance Minister Nirmala Sitharaman , while making the announcement on her Twitter handle on May 21, requested state governments to follow the lead, especially those who didn't announce a reduction last time (Novemeber 2021). "I wish to exhort all state governments, especially the states where reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man", read her tweet. Also Read: Excise duty on fuel has to be reduced by Rs 10-12 as there is no other option: Former finance secretary 7/12 We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre. It will have revenue implication of … [Read more...] about Centre cuts excise duty on petrol by Rs 8 per litre, on diesel by Rs 6 per litre

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 more than 40 days now. Since the end of a four-and-a-half-month-long halt 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 now 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 per litre, respectively. In Chennai, petrol costs Rs 110.85 and diesel Rs 100.94 per litre; and in Kolkata, petrol is at Rs 115.12 per litre and diesel at Rs 99.83 per litre. 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 … [Read more...] about Fuel Prices on May 21: Check out petrol, diesel rates in Mumbai, Delhi and other cities

United States President Joe Biden U.S. President Joe Biden and his new South Korean counterpart will search for ways on Saturday to break a diplomatic stalemate with North Korea, as they worry Kim Jong Un could lash out with new nuclear tests. Biden and Yoon Suk-yeol will meet in Seoul for their first diplomatic engagement since the South Korean president’s inauguration 11 days ago. The friendly encounter between allies is clouded by intelligence showing North Korean leader Kim is prepared to launch nuclear or missile tests. A senior Biden administration official told reporters on Saturday that the two leaders will discuss nuclear cooperation and that Washington remains ready for diplomacy with North Korea. "It is very much our desire that we find ways to have a diplomatic approach,” the official said. ”We have made very clear we’re prepared to talk to them, and with no preconditions, and we’re also prepared to take steps to address their domestic challenges, including … [Read more...] about North Korea nuclear threat tops agenda for Biden-Yoon meeting in South Korea