An employee counts Indian currency notes at a cash counter inside a bank in Kolkata. Reuters
India’s foreign exchange reserves rose by $5.271 billion during the week ended May 28. According to the Reserve Bank of India’s (RBI) weekly statistical supplement,
Indian shares tumbled on Friday, as banking stocks came under pressure after the country’s central bank placed troubled lender Yes Bank under a moratorium and took over its board.
The Indian rupee has breached the 74 per dollar mark and experts feel that with continued global economic concerns and possibilities of further plunge in financial and oil markets, it may continue to witness volatility in the coming days.
Brent crude futures climbed 71 cents, or 0.76%, to $93.98 a barrel by 0809 GMT after settling 3 cents lower on Friday. US West Texas Intermediate crude futures extended gains for a second session, trading at $90.63 a barrel, up 60 cents, or 0.67%.
“Future100,” a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office, has forged 25 strategic partnerships.
Suhail Bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, led the UAE delegation to the UAE-Indonesia Business Forum, which was held recently in the capital, Jakarta.