Oil Jumps As Yuan Hits 2016 High; Investors Put Fresh Cash Into Oil

Singapore: Oil prices jumped on Friday supported by fresh investment and a weaker dollar, which makes fuel cheaper for importers using other currencies, but analysts warned that a stronger price rally was premature as a global glut remained in place. U.S. crude futures were trading at $38.64 a barrel at…

Mumbai, Bangalore Ranked Among Cheapest Cities in World: Report

London: Mumbai and Bangalore are among the cheapest cities in the world, according to a top London-based forecast group that named Singapore as the most expensive city. Economist Intelligence Unit (EIU) ranked Singapore as the priciest ahead of Zurich, Hong Kong, Geneva and Paris. It also said India and Pakistan…

Gold Hits 13-month Top On Firm Euro As ECB Signals Rate Cut End

Manila: Gold climbed to a 13-month high on Friday before pulling back slightly, as the euro hovered near a three-week peak against the dollar after the European Central Bank signalled it was done reducing interest rates for now. After rolling out bold measures to boost the euro zone economies, including…

Oil Prices May Have Bottomed, Says IEA

London: Oil prices might have bottomed as production declines in the United States and other non-OPEC producers accelerate and an increase in Iranian supply has been less than dramatic, the International Energy Agency said on Friday. After a spectacular 2015, growth in global demand was slowing – with India and…

Crisil Sees GDP Growing At 7.9% in 2016-17

Mumbai: The country’s GDP can grow by 7.9 per cent next fiscal if the monsoon is normal and government implements the reform measures announced so far, domestic rating agency Crisil said on Friday. The growth forecast, highest by any house and even above the government’s own estimate of 7-7.75 per…