With the Brent variety of crude oil’s price falling below $100 a barrel for the first time since October 2011 on a slowing Chinese economy, hopes of some relief on the petroleum subsidy burden have revived in India.
However, the depreciating rupee works in the other direction, as crude oil is traded globally in dollars.
Oil prices fell a little more than three per cent today, with Brent crude to a nearly 16-month low. Weak US jobs data, poor Chinese manufacturing figures and the euro zone’s debt crisis prompted a cross-market selloff.
The benchmark Indian crude oil basket was about $4 lower at an average of $105 for the fortnight ending May 31, compared with the previous fortnight. However, the rupee fell by Rs 1.95 against the dollar during the same period, according to India government data released today.
Gold price is still not stabilized in India like everywhere else. After going down, the g
Gold price opens lower in Hong Kong
The gold price in Hong Kong went down 180 HK dollars to open at 12,720 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent
Market Cap Indices Turn Red at Qatar Exchange
The QE index spending almost the entire session below the break even line witnessed a bearish trend on Thursday 23rd May 2013. The index dropping 37.28 points or 0.41 percent reached at 9,048.62 leve
Small Cap and Large Cap Push ADX Index Lower
The ADX General Index sustained its downward march and finished the session with a decline of 1.23 percent on Thursday 23rd May 2013 . The index dropped 43.02 points, closing at 3,460.36.
M
WEF to focus on challenges
Leaders from the Middle East and North Africa in business, economics and politics will focus on the aftermath of the Arab Spring as they gather for the World Economic Forum in Jordan this weekend.