Mumbai, May 15 (IANS) India’s foreign exchange reserves rose sharply by $6.295 billion to $696.988 billion during the week ended May 8, mainly driven by a significant increase in gold reserves, according to data released by the Reserve Bank of India on Friday.The latest rise comes after the country’s forex reserves had declined by $7.794 billion to $690.693 billion in the previous reporting week.India’s foreign exchange reserves had earlier touched a record high of $728.494 billion in the …
Latest Middle East conflict News & Updates
New Delhi, May 15 (IANS) As oil marketing companies (OMCs) face mounting losses amid the ongoing West Asia crisis, they raised petrol and diesel prices by Rs 3 per litre each on Friday.The revised rates came into effect immediately across the country. In Delhi, petrol prices rose by Rs 3.14 per litre to Rs 97.77, while diesel became costlier by Rs 3.11 per litre.Meanwhile, amid the Middle East crisis, oil companies have also raised CNG prices. Effective Friday, the price of CNG has increased by …
New Delhi, May 14 (IANS) India’s inflation rate based on the wholesale price index (WPI) rose to 8.3 per cent during April, compared to the same month of the previous year, primarily due to an increase in prices of fuels and crude oil amid the Middle East conflict, according to a statement issued by the Ministry of Commerce and Industry on Thursday.The WPI inflation for April was higher than the corresponding figure of 3.88 per cent recorded for March this yearWPI food inflation remained constan…
New Delhi, May 13 (IANS) Historical analysis of oil spikes showed that they do not permanently alter India’s GDP or inflation path and the structural relationships are weak over the long run, a report said on Wednesday.The report from Bank of Baroda said that autoregressive distributed lag model analysis of crude price changes over the last 54 years does not establish any long run relationship between oil prices, GDP, CPI (Consumer Price Index) and WPI (Wholesale Price Index).Over the past 54 …
New Delhi, May 12 (IANS) The global fuel price shock has shattered Pakistan because of the country’s heavy reliance on imported energy and its weak balance-of-payments position, taking its monthly trade deficit ballooned to $4.07 billion in April, according to a new report.The April figures are Pakistan’s highest level since June 2022, further straining the fragile economy, reports Dawn.The massive 43.5 per cent month-on-month jump in the trade gap “was anticipated due to energy supply dis…
New Delhi, May 8 (IANS) Pakistan has entered into a difficult phase of economic management as petrol and high‑speed diesel near Rs 400 a litre, compounding pressures on households and the government, a report has said.Pakistan-based The News International said in the report that State Bank of Pakistan’s policy rate hike to 11.5 per cent adds strain on borrowers.”While citizens are bearing the brunt of inflation, the government is risking its political capital by making unpopular decisions,” it…
Seoul, May 6 (IANS) South Korea’s consumer prices rose at the fastest pace in 21 months in April, driven by soaring fuel costs amid the Middle East conflict, government data showed on Wednesday.Consumer prices, a key gauge of inflation, increased 2.6 percent from a year earlier last month, according to the data from the Ministry of Data and Statistics. It marks the largest on-year increase since July 2024, when inflation climbed 2.6 percent, reports Yonhap news agency.The latest rise was driven …
Washington, May 6 (IANS) US job openings remained unchanged in March at 6.9 million, according to data released by the US Bureau of Labor Statistics. The labour market has been volatile this year after a lacklustre year in 2025, with the Middle East conflict introducing significant uncertainty into the economic forecast and labour market.The Job Openings and Labor Turnover Survey showed that layoffs increased in March. However, hiring increased, and more people quit their jobs, evidence of confi…
Wellington, May 6 (IANS) New Zealand’s unemployment rate eased to 5.3 per cent in the March 2026 quarter from 5.4 per cent in the December 2025 quarter, Stats NZ said on Wednesday. The statistics department reported the number of unemployed falling to 163,000 in the March 2026 quarter from 165,000 in the December 2025 quarter, with the employment rate standing at 66.7 per cent, reports Xinhua news agency.The underutilisation rate, a broader measure of untapped labour market capacity than unemplo…
New Delhi, May 4 (IANS) India’s air traffic registered a sequential slowdown in April compared to March for both domestic and international passengers, according to data compiled by the Ministry of Civil Aviation.The downturn comes in the backdrop of the Middle East conflict which led to sharp decline in international flights.Domestic air traffic stood at 140.8 lakh passengers, which represents a 4 per cent drop (year-on-year) as well as month-on-month. International traffic saw a sharper declin…