Rate Cut

Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20% by 2029.

Better-than-expected earnings from a raft of US and European companies helped steady global stock markets on Wednesday, cutting through gloom caused by rising interest rates and the threat of an energy crunch due to Russian gas supply cuts.

World shares skidded and bond markets rallied on Tuesday as some disappointing earnings, the prospect of another super-sized US interest rate hike this week, and Europe's looming gas crisis all kept investors on edge.

Jet fuel (ATF) prices on Saturday were reduced by 2.2 per cent, reflecting a fall in international oil prices.

The price of cooking gas was cut by Rs 198 per cylinder in Delhi on Friday, according to Indian Oil Corporation.

The National Anti-Profiteering Authority has found L'Oreal India guilty of not passing on GST rate cut benefit worth over Rs 186.39 crore to customers

Oil prices tumbled about 6% to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy.

Petrol and diesel prices have been kept steady for a month after the government's much-needed move to cut excise duty on May 21.

Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit

Oil prices tumbled about 6 per cent to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy.

India's retail inflation eased to 7.04 per cent in May from a year ago, after hitting an eight-year high in April, data showed on Monday.

Surging retail inflation likely eased in May on lower fuel costs, but price pressures remain elevated, and the rate was expected to have held above the Reserve Bank of India's upper tolerance level of its 2-6 per cent target band for the fifth month in a row.

The World Bank on Tuesday cut India's economic growth forecast for the current fiscal to 7.5 per cent

The already-elevated India's crude oil basket price is rising, with the average based on daily costs for June jumping to over $115 per barrel, compared to $109.51 in May and $102.97 in April.

RBI is expected to go for another rate hike of 0.40 per cent at the scheduled review of the monetary policy next week, a foreign brokerage said

Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20% by 2029.

Better-than-expected earnings from a raft of US and European companies helped steady global stock markets on Wednesday, cutting through gloom caused by rising interest rates and the threat of an energy crunch due to Russian gas supply cuts.

World shares skidded and bond markets rallied on Tuesday as some disappointing earnings, the prospect of another super-sized US interest rate hike this week, and Europe's looming gas crisis all kept investors on edge.

Jet fuel (ATF) prices on Saturday were reduced by 2.2 per cent, reflecting a fall in international oil prices.

The price of cooking gas was cut by Rs 198 per cylinder in Delhi on Friday, according to Indian Oil Corporation.

The National Anti-Profiteering Authority has found L'Oreal India guilty of not passing on GST rate cut benefit worth over Rs 186.39 crore to customers

Oil prices tumbled about 6% to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy.

Petrol and diesel prices have been kept steady for a month after the government's much-needed move to cut excise duty on May 21.

Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit

Oil prices tumbled about 6 per cent to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy.

India's retail inflation eased to 7.04 per cent in May from a year ago, after hitting an eight-year high in April, data showed on Monday.

Surging retail inflation likely eased in May on lower fuel costs, but price pressures remain elevated, and the rate was expected to have held above the Reserve Bank of India's upper tolerance level of its 2-6 per cent target band for the fifth month in a row.

The World Bank on Tuesday cut India's economic growth forecast for the current fiscal to 7.5 per cent

The already-elevated India's crude oil basket price is rising, with the average based on daily costs for June jumping to over $115 per barrel, compared to $109.51 in May and $102.97 in April.

RBI is expected to go for another rate hike of 0.40 per cent at the scheduled review of the monetary policy next week, a foreign brokerage said