Steel stocks have witnessed a strong recovery since the lows of February. Furthermore, the balance in demand and supply has favored Indian companies. Additionally, dipping coking coal prices and rising domestic steel prices lay the ground for profits for Indian steel manufacturers. Moreover, the depleting geopolitical crisis reduced European steel supplies from Ukraine and Russia.
Presently, India struggles with slow growth and high inflation. On Thursday, the finance ministry said in its Monthly Economic Review that the Russia-Ukraine crisis presents a twin challenge to the Indian economy. Furthermore, the ministry informed that the government sought affordable options to procure crude oil. In January, the Economic Survey predicted the Indian economy
The US and its allies have issued trade and economic sanctions against the Russian economy. The sanctions are a measure to aid Ukraine to avoid a nuclear confrontation between NATO and Russia. However, many wonder if the trade and economic sanctions against Russia are risky. Furthermore, these sanctions actively damage users requiring clarity on deployment
Oil prices dip on Sunday, and Russia agrees to substantial negotiations over Ukraine. Last week Brent was down 4.8% after reaching $139.13 on March 7. Furthermore, U.S. crude reported a weekly dip of 5.7% after soaring to $130.50 on March 7. However, both contracts last touched those price peaks in 2008. Russian invasion called “special
Ukraine’s government has raised cryptocurrency donations worth $13 million, according to Elliptic. As per data from Elliptic, a blockchain analysis firm, bitcoin donations poured in after Ukraine appealed to social media. Ukraine’s cryptocurrency and digital token donations On Saturday, Ukraine’s official Twitter account appealed for cryptocurrency donations. Ukraine’s Vice-Prime Minister and minister of digital transformation,
India’s economic recovery remains unrushed due to the recent pandemic and Russian invasion. As previously predicted, India’s economic recovery is growing slower due to last year’s Covid cases and rising commodity prices. India’s economic recovery delayed According to the median estimate in a Bloomberg survey, GDP probably expanded 9.1% in the year to March 31.
The National Bank of Ukraine ordered to suspend issuing e-money. As a result, Ukrainians turn to crypto. Electronic money refers to digital accounts platforms like PayPal and Venmo. National Bank of Ukraine suspends e-money On Thursday, The National Bank of Ukraine released a statement including an order to suspend the foreign exchange market. Furthermore, they
Rising crude oil and energy prices due to the Ukraine-Russia standoff may slow global growth. While the West hits sanctions on Russia, crude oil prices are about to reach $100 a barrel. Rupee to reach 80 a dollar MD and Chief Strategist at JM Financial Institutional Securities Dhananjay Sinha shares with Moneycontrol that the Indian
While the United States is yet to verify the pullback of Russian troops, Brent traded at $93.19 a barrel. Brent traded down 10%, sliding 3.3% overnight after the Russian-Ukraine tensions cooled down. Oil prices steadied on Wednesday On Tuesday, Moscow announced a partial pullback of troops from Ukraine’s borders. However, U.S. President Joe Biden says
