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India’s retail inflation accelerates to 3.93% in May on higher food, fuel costs

NEW DELHI, June 12 (Reuters) – India’s retail inflation rose to 3.93% ​in May, driven by higher food and fuel ‌costs, government data showed on Friday, as the outlook continued to remain clouded by price pressures stemming ​from the Middle East conflict. May’s reading came ​in marginally below Reuters’ projection of 4.0%, and close to the ⁠central bank’s medium term inflation target. The May ​print is the highest in the new series ​launched in January this year with a revised basket of goods and a new base. The data comes after state-owned ​fuel retailers raised fuel prices four times in

TMC’s Lok Sabha revolt: Signature sheets go viral, feature names of 19 MPs

Kolkata, Jun 12 (PTI) The scale of the TMC’s parliamentary revolt came into sharper focus on Friday after purported signatures of 19 party MPs surfaced on a letter to the Lok Sabha Speaker seeking recognition of a separate bloc under Kakoli Ghosh Dastidar and extending support to the BJP-led NDA. The emergence of the signature sheets, however, appears to offer the clearest picture yet of the lawmakers who have aligned with the dissident camp that has challenged the authority of TMC chief Mamata Banerjee in the aftermath of the party’s crushing defeat in the West Bengal assembly elections. PTI could

Sensex jumps 1,695 points, Nifty rises 2 pc propelled by global rally as US ends war with Iran

Mumbai, Jun 12 (PTI) Benchmark indices ended sharply higher on Friday, with the Sensex climbing 1,695.40 points and the Nifty surging nearly 2 per cent, in tandem with a rally in global markets and a decline in crude oil prices after US President Donald Trump declared that his country has ended the war with Iran. The 30-share BSE Sensex jumped 1,695.40 points, or 2.30 per cent, to settle at 75,527.95. During the day, it surged 1,775.47 points, or 2.40 per cent, to 75,608.02. The 50-share NSE Nifty ended sharply higher by 461.30 points, or 1.99 per cent, to close at

Rupee surges 77 paise to settle at 95.08 against US dollar

Mumbai, Jun 12 (PTI) The rupee surged 77 paise to close at 95.08 (provisional) against the greenback on Friday as global oil prices fell sharply after US President Donald Trump indicated an imminent deal with Iran. A firm trend in domestic equity markets and a weaker American currency also supported the rupee during the day, forex traders said. Trump has said a deal to end the war with Iran is nearly complete, and is expected to be signed over the weekend in Europe, as he called off military strikes on the Islamic Republic hours after threatening to take control of

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