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India’s wholesale inflation inches up to 3.88% in March, a more than 3-year high

NEW DELHI, April 15 (Reuters) – India’s wholesale prices rose 3.88% ​year-on-year in March, its fastest pace in ‌over three years, driven by higher prices of oil, food and ​manufactured products, government data ​showed on Wednesday. The data was ⁠higher than the 2.13% ​rise a month ago and ​economists’ projection of 3.04%. UPDATE • Wholesale food prices rose 1.85% year-on-year in ​March after rising 1.85% ​in February. • Vegetable prices increased 1.45% ‌year-on-year ⁠in March, as compared to a 4.73% year-on-year increase a month ago. • Prices of ​manufactured products ​rose ⁠3.39% year-on-year in March after a 2.92% ​year-on-year rise

US shuts down Iran’s maritime trade despite optimism for more talks

DUBAI/WASHINGTON, April 15 (Reuters) – The United States said on Wednesday its military had completely halted trade going in and out ​of Iran by sea, while President Donald Trump said talks with Tehran on ending the war could resume this week, sending oil prices down for a second day. Trump said ‌negotiations between U.S. and Iranian officials could resume in Pakistan in the next two days and Vice President JD Vance, who led weekend talks that ended without a breakthrough, said he felt positive about where things stood. “I think you’re going to be watching an amazing two days ahead,”

Stock markets surge in early trade amid hopes of resumption of US-Iran peace talks

Mumbai, Apr 15 (PTI) Equity benchmark indices Sensex and Nifty surged in early trade on Wednesday, mirroring a rally in global markets and a drop in crude oil prices below the USD 100 per barrel mark, amid hopes of renewed diplomatic engagement between the US and Iran. The 30-share BSE Sensex jumped 1,422.85 points to 78,270.42 in early trade. The 50-share NSE Nifty climbed 438.25 points to 24,280.90. All the 30-Sensex firms were trading in positive territory during initial trade. InterGlobe Aviation, Infosys, Tata Consultancy Services, Eternal, Larsen & Toubro and Bajaj Finance were the major gainers. Brent crude, the

Iran war promises green edge for Asia as plastic packaging runs short

SEOUL/TOKYO, April 15 (Reuters) – An ‘eco-friendly’ range of paper tubes and pouches touted by Yonwoo, a South Korean maker ​of packaging for cosmetics, has reaped unexpected benefit from the Iran war, which has disrupted supplies of the plastic needed to turn out single-use ‌wrapping. While the conflict has sent prices of plastic soaring to roughly four-year highs by choking off flows of the required raw materials of oil and petrochemicals, the company says it has fuelled inquiries three-fold for paper-based options. “Interest initially came from companies focused on sustainability … but if the plastics issue gets prolonged we expect

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