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Rupee falls 16 paise to close at 92.01 against US dollar

Mumbai, Mar 11 (PTI) The rupee declined 16 paise to settle at 92.01 (provisional) against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in West Asia raged on. FII outflows and weak sentiments in the domestic equity markets further pressured the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 91.92 against the US dollar and traded in the range of 91.85-92.06 before settling at 92.01 (provisional), down 16 paise from its previous close. The rupee staged a strong

Sensex, Nifty tumble nearly 2% as crude oil surges amid growing tensions in West Asia

Mumbai, Feb 11 (PTI) Stock market benchmark indices Sensex and Nifty ended nearly 2 per cent lower on Wednesday after a day’s breather following a spike in crude oil prices amid growing tensions in West Asia. Besides, sustained foreign fund outflows and selling in blue-chip bank stocks also drove the markets lower. The 30-share BSE Sensex tumbled 1,342.27 points or 1.72%, to settle at 76,863.71. During the day, it dropped 1,446.72 points or 1.84%, to 76,759.26. The 50-share NSE Nifty tanked 394.75 points or 1.63%, to end at 23,866.85. From the 30-Sensex firms, Bajaj Finance, Axis Bank, Bajaj Finserv, Mahindra

Trump announces new US refinery backed by India’s Reliance

HOUSTON, March 11 (Reuters) – President Donald Trump on Tuesday announced the construction of a refinery on the southern U.S. border backed by India’s ​Reliance Industries, operator of the world’s biggest refining complex. Trump made the announcement as drivers react to spiking gasoline prices since the ‌start of the U.S.-Israeli war with Iran, and while Republicans and Democrats prepare for midterm elections that could determine which party controls Congress through the last two years of his presidency. “Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous Investment,” Trump said on social

Panic buying of petrol just makes shortages worse. Why do people do it anyway?

Gold Coast (Australia), Mar 11 (The Conversation): Have you visited a petrol station recently? You might have been in for a shock – and not just because the price on display was probably over A$2 a litre. As the world grapples with one of the most severe energy shocks in decades, Australians have flocked to the fuel pump in their thousands, filling up cars, trailer-mounted fuel tanks and even jerry cans. In response, some stations have begun rationing fuel and closing pumps. But many Australians will be feeling a sense of déjà vu. In early 2020, as the COVID pandemic

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